# EDGAR Filing Document

**Accession Number:** 0001084380
**File Stem:** 0001193125-23-021516
**Filing Date:** 2023-2
**Character Count:** 1573434
**Document Hash:** 5448895b8bc1ddccd70276e72fd6fe0c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-021516.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001193125-23-021516

**CONFORMED SUBMISSION TYPE**: N-CSR/A

**PUBLIC DOCUMENT COUNT**: 30

**CONFORMED PERIOD OF REPORT**: 20221031

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230201

**EFFECTIVENESS DATE**: 20230201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** TIAA-CREF FUNDS
- **CENTRAL INDEX KEY:** 0001084380
- **IRS NUMBER:** 134055167
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** N-CSR/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09301
- **FILM NUMBER:** 23576647

**BUSINESS ADDRESS:**
- **STREET 1:** 730 THIRD AVE.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 2129166746

**MAIL ADDRESS:**
- **STREET 1:** 730 THIRD AVE.
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TIAA CREF INSTITUTIONAL MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19990415

## Series and Classes Contracts Data

### TIAA-CREF Equity Index Fund (Series ID: S000005360)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014611 | Institutional Class | TIEIX           |
| C000033987 | Retirement Class    | TIQRX           |
| C000033988 | Retail Class        | TINRX           |
| C000079551 | Premier Class       | TCEPX           |
| C000162542 | Advisor Class       | TEIHX           |
| C000202742 | Class W             | TEQWX           |

### TIAA-CREF S&P 500 Index Fund (Series ID: S000005361)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014612 | Institutional Class | TISPX           |
| C000014613 | Retirement Class    | TRSPX           |
| C000162543 | Advisor Class       | TISAX           |
| C000202743 | Class W             | TISWX           |

### TIAA-CREF Small-Cap Blend Index Fund (Series ID: S000005367)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014624 | Institutional Class | TISBX           |
| C000014625 | Retirement Class    | TRBIX           |
| C000162544 | Advisor Class       | TRHBX           |
| C000202744 | Class W             | TRHWX           |

### TIAA-CREF International Equity Index Fund (Series ID: S000005368)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014626 | Institutional Class | TCIEX           |
| C000014627 | Retirement Class    | TRIEX           |
| C000079552 | Premier Class       | TRIPX           |
| C000162545 | Advisor Class       | TCIHX           |
| C000202745 | Class W             | TCIWX           |

### TIAA-CREF Growth & Income Fund (Series ID: S000005370)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014631 | Institutional Class | TIGRX           |
| C000014632 | Retirement Class    | TRGIX           |
| C000033989 | Retail Class        | TIIRX           |
| C000079554 | Premier Class       | TRPGX           |
| C000162547 | Advisor Class       | TGIHX           |
| C000202746 | Class W             | TGIWX           |

### TIAA-CREF Social Choice Equity Fund (Series ID: S000005371)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014633 | Institutional Class | TISCX           |
| C000014634 | Retirement Class    | TRSCX           |
| C000033990 | Retail Class        | TICRX           |
| C000079555 | Premier Class       | TRPSX           |
| C000162548 | Advisor Class       | TICHX           |

### TIAA-CREF International Equity Fund (Series ID: S000005381)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014645 | Institutional Class | TIIEX           |
| C000014646 | Retirement Class    | TRERX           |
| C000033996 | Retail Class        | TIERX           |
| C000079565 | Premier Class       | TREPX           |
| C000162558 | Advisor Class       | TIEHX           |
| C000202750 | Class W             | TIEWX           |

### TIAA-CREF Large-Cap Value Fund (Series ID: S000005383)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014648 | Institutional Class | TRLIX           |
| C000014649 | Retail Class        | TCLCX           |
| C000014650 | Retirement Class    | TRLCX           |
| C000079567 | Premier Class       | TRCPX           |
| C000162560 | Advisor Class       | TRLHX           |
| C000202751 | Class W             | TRLWX           |

### TIAA-CREF Mid-Cap Growth Fund (Series ID: S000005384)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014651 | Institutional Class | TRPWX           |
| C000014652 | Retail Class        | TCMGX           |
| C000014653 | Retirement Class    | TRGMX           |
| C000079568 | Premier Class       | TRGPX           |
| C000162561 | Advisor Class       | TCMHX           |

### TIAA-CREF Mid-Cap Value Fund (Series ID: S000005385)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014654 | Institutional Class | TIMVX           |
| C000014655 | Retail Class        | TCMVX           |
| C000014656 | Retirement Class    | TRVRX           |
| C000079569 | Premier Class       | TRVPX           |
| C000162562 | Advisor Class       | TRVHX           |

### TIAA-CREF Quant Small-Cap Equity Fund (Series ID: S000005386)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014657 | Institutional Class | TISEX           |
| C000014658 | Retail Class        | TCSEX           |
| C000014659 | Retirement Class    | TRSEX           |
| C000079570 | Premier Class       | TSRPX           |
| C000162563 | Advisor Class       | TSCHX           |
| C000202752 | Class W             | TSCWX           |

### TIAA-CREF Large-Cap Growth Index Fund (Series ID: S000005387)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014660 | Institutional Class | TILIX           |
| C000014661 | Retirement Class    | TRIRX           |
| C000162564 | Advisor Class       | TRIHX           |
| C000202753 | Class W             | TRIWX           |

### TIAA-CREF Large-Cap Value Index Fund (Series ID: S000005388)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014662 | Institutional Class | TILVX           |
| C000014663 | Retirement Class    | TRCVX           |
| C000162565 | Advisor Class       | THCVX           |
| C000202754 | Class W             | THCWX           |

### TIAA-CREF Large-Cap Growth Fund (Series ID: S000012197)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000033280 | Retail Class        | TIRTX           |
| C000033281 | Retirement Class    | TILRX           |
| C000033282 | Institutional Class | TILGX           |
| C000079573 | Premier Class       | TILPX           |
| C000162568 | Advisor Class       | TILHX           |
| C000202757 | Class W             | TILWX           |

### TIAA-CREF Emerging Markets Equity Fund (Series ID: S000029604)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000090850 | Retail Class        | TEMRX           |
| C000090851 | Retirement Class    | TEMSX           |
| C000090852 | Premier Class       | TEMPX           |
| C000090853 | Institutional Class | TEMLX           |
| C000162588 | Advisor Class       | TEMHX           |
| C000202763 | Class W             | TEMVX           |

### TIAA-CREF Emerging Markets Equity Index Fund (Series ID: S000029605)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000090854 | Retail Class        | TEQKX           |
| C000090855 | Retirement Class    | TEQSX           |
| C000090856 | Premier Class       | TEQPX           |
| C000090857 | Institutional Class | TEQLX           |
| C000162589 | Advisor Class       | TEQHX           |
| C000202764 | Class W             | TENWX           |

### TIAA-CREF International Opportunities Fund (Series ID: S000040206)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000124962 | Institutional Class | TIOIX           |
| C000124963 | Premier Class       | TIOPX           |
| C000124964 | Retail Class        | TIOSX           |
| C000124965 | Retirement Class    | TIOTX           |
| C000162599 | Advisor Class       | TIOHX           |
| C000202765 | Class W             | TIOVX           |

### TIAA-CREF Emerging Markets Debt Fund (Series ID: S000046660)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000145608 | Institutional Class | TEDNX           |
| C000145609 | Premier Class       | TEDPX           |
| C000145610 | Retail Class        | TEDLX           |
| C000145611 | Retirement Class    | TEDTX           |
| C000162600 | Advisor Class       | TEDHX           |
| C000202766 | Class W             | TEDVX           |

### TIAA-CREF Social Choice International Equity Fund (Series ID: S000050279)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000158754 | Institutional Class | TSONX           |
| C000158755 | Premier Class       | TSOPX           |
| C000158756 | Retail Class        | TSORX           |
| C000158757 | Retirement Class    | TSOEX           |
| C000162604 | Advisor Class       | TSOHX           |

### TIAA-CREF Social Choice Low Carbon Equity Fund (Series ID: S000050280)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000158758 | Premier Class       | TPWCX           |
| C000158759 | Retail Class        | TLWCX           |
| C000158760 | Retirement Class    | TEWCX           |
| C000158761 | Institutional Class | TNWCX           |
| C000162605 | Advisor Class       | TCCHX           |

### TIAA-CREF International Bond Fund (Series ID: S000054622)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000171516 | Advisor Class       | TIBNX           |
| C000171517 | Institutional Class | TIBWX           |
| C000171518 | Premier Class       | TIBLX           |
| C000171519 | Retail Class        | TIBEX           |
| C000171520 | Retirement Class    | TIBVX           |
| C000202768 | Class W             | TIBUX           |

### TIAA-CREF Quant Small/Mid-Cap Equity Fund (Series ID: S000054623)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000171521 | Retirement Class    | TSMOX           |
| C000171522 | Advisor Class       | TSMNX           |
| C000171523 | Institutional Class | TSMWX           |
| C000171524 | Premier Class       | TSMMX           |
| C000171525 | Retail Class        | TSMEX           |
| C000202769 | Class W             | TSMUX           |

### TIAA-CREF Quant International Small-Cap Equity Fund (Series ID: S000055721)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000175453 | Advisor Class       | TAISX           |
| C000175454 | Institutional Class | TIISX           |
| C000175455 | Premier Class       | TPISX           |
| C000175456 | Retail Class        | TLISX           |
| C000175457 | Retirement Class    | TTISX           |
| C000202770 | Class W             | TAIWX           |

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

**FORM N-CSR** 

**CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT** 

**INVESTMENT COMPANIES** 

Investment Company Act file number <u>File No.</u> <u>811-09301</u>

<u>TIAA-CREF FUNDS</u> 

(Exact Name of Registrant as specified in charter)

<u>730 Third Avenue, New York, New York 10017-3206</u> 

(Address of Principal Executive Offices) (Zip code)

Jeremy D. Franklin, Esq.

TIAA-CREF Funds

8500 Andrew Carnegie Blvd.

<u>Charlotte, N.C. 28262-8500</u> 

(Name and address of agent for service)

Registrant's telephone number, including area code: <u>704-595-1000</u>

Date of fiscal year end: <u>October</u> <u>31</u>

Date of reporting period: <u>October 31, 2022</u>

------

February 1, 2023

TIAA 730 Third Avenue New York NY 10017-3206

Securities and Exchange Commission

100 F Street, N.E.

Washington, D.C. 20549

**RE: TIAA-CREF Funds** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**811-09301** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Accession Number 0001193125-22-314537** 

Ladies and Gentlemen:

We are filing an amendment to Form Type N-CSR for the following funds (collectively, the "Fund"), originally filed on 29-December-2022:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. TIAA-CREF Growth & Income Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. TIAA-CREF Large-Cap Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. TIAA-CREF Large-Cap Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. TIAA-CREF Mid-Cap Growth Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. TIAA-CREF Mid-Cap Value Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6. TIAA-CREF Quant Small-Cap Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7. TIAA-CREF Quant Small/Mid-Cap Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8. TIAA-CREF Social Choice Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9. TIAA-CREF Social Choice Low Carbon Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10. TIAA-CREF Emerging Markets Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11. TIAA-CREF International Equity Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12. TIAA-CREF International Opportunities Fund

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13. TIAA-CREF Quant International Small-Cap Equity Fund

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14. TIAA-CREF Social Choice International Equity Fund

Explanation: We have amended this filing for the following:

The city and state of the accounting firm issuing the Report of Independent Registered Public Accounting Firm has been corrected from Baltimore, Maryland to Charlotte, North Carolina.

Sincerely,

<u>/s/ E. Scott Wickerham</u> 

E. Scott Wickerham

Principal Financial Officer, Principal

Accounting Officer and Treasurer

(principal financial officer)

------

**Item 1.** 

------

Equity

Funds

TIAA-CREF

#### Annual

#### Report
TIAA-CREF

Funds

October

31,

2022

The

annual

report

contains

the

audited

financial

statements.

Fund

name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1 Growth

&

Income

Fund

TIGRX

TGIHX

TRPGX

TRGIX

TIIRX

TGIWX

2.2 Large-Cap

Growth

Fund

TILGX

TILHX

TILPX

TILRX

TIRTX

TILWX

2.3 Large-Cap

Value

Fund

TRLIX

TRLHX

TRCPX

TRLCX

TCLCX

TRLWX

2.4 Mid-Cap

Growth

Fund

TRPWX

TCMHX

TRGPX

TRGMX

TCMGX

–

2.5 Mid-Cap

Value

Fund

TIMVX

TRVHX

TRVPX

TRVRX

TCMVX

–

2.6 Quant

Small-Cap

Equity

Fund

TISEX

TSCHX

TSRPX

TRSEX

TCSEX

TSCWX

2.7 Quant

Small/Mid-Cap

Equity

Fund

TSMWX

TSMNX

TSMMX

TSMOX

TSMEX

TSMUX

2.8 Social

Choice

Equity

Fund

TISCX

TICHX

TRPSX

TRSCX

TICRX

–

2.9 Social

Choice

Low

Carbon

Equity

Fund

TNWCX

TCCHX

TPWCX

TEWCX

TLWCX

–

3.01 Emerging

Markets

Equity

Fund

TEMLX

TEMHX

TEMPX

TEMSX

TEMRX

TEMVX

3.1 International

Equity

Fund

TIIEX

TIEHX

TREPX

TRERX

TIERX

TIEWX

3.2 International

Opportunities

Fund

TIOIX

TIOHX

TIOPX

TIOTX

TIOSX

TIOVX

3.3 Quant

International

Small-Cap

Equity

Fund

TIISX

TAISX

TPISX

TTISX

TLISX

TAIWX

3.4 Social

Choice

International

Equity

Fund

TSONX

TSOHX

TSOPX

TSOEX

TSORX

–

Contents

Understanding

this

report

Letter

to

investors

Market

monitor

About

the

funds'

benchmarks

Fund

performance

Portfolio

managers'

comments

Growth

&

Income

Fund

Large-Cap

Growth

Fund

Large-Cap

Value

Fund

Mid-Cap

Growth

Fund

Mid-Cap

Value

Fund

Quant

Small-Cap

Equity

Fund

Quant

Small/Mid-Cap

Equity

Fund

Social

Choice

Equity

Fund

Social

Choice

Low

Carbon

Equity

Fund

Emerging

Markets

Equity

Fund

International

Equity

Fund

International

Opportunities

Fund

Quant

International

Small-Cap

Equity

Fund

Social

Choice

International

Equity

Fund

Expense

examples

Portfolio

of

investments

Audited

financial

statements

Statements

of

assets

and

liabilities

Statements

of

operations

Statements

of

changes

in

net

assets

Financial

highlights

Notes

to

financial

statements

Report

of

Independent

Registered

Public

Accounting

Firm

Important

tax

information

Additional

fund

information

Trustees

and

officers

Additional

information

about

index

providers

How

to

reach

us

Inside

Back

Cover

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Understanding

this

report

For

the

purposes

of

this

report,

"TIAA-CREF

Funds"

refers

only

to

the

TIAA-CREF

Equity

Funds

listed

on

the

cover

of

this

report.

This

annual

report

contains

information

about

certain

TIAA-CREF

Funds

and

describes

their

results

for

the

twelve

months

ended

October

31,

2022

.

The

report

contains

four

main

sections:

A

letter

from

Brad

Finkle,

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

The

fund

performance

section

compares

each

fund's

investment

returns

with

those

of

its

benchmark

index.

The

portfolios

of

investments

list

the

industries

and

types

of

securities

in

which

each

fund

had

investments

as

of

October

31,

2022

.

The

financial

statements

provide

detailed

information

about

the

operations

and

financial

condition

of

each

fund.

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

any

fund,

please

read

the

latest

prospectus.

As

always,

you

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

important

information,

please

visit

our

websites

at

TIAA.org

or

nuveen.com,

or

call

800-842-

2252

for

the

Institutional,

Advisor,

Premier

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

We

urge

you

to

read

the

prospectus

carefully

before

investing.

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Letter

to

investors

![](g441435epub31499290148864.jpg)

Brad

Finkle

Global

stocks

posted

losses

for

the

twelve

months

ended

October

31,

2022. The

U.S.

economy

fluctuated

during

the

period,

experiencing

both

contraction

and

expansion.

The

Federal

Reserve

responded

to

growing

inflationary

pressure

by

aggressively

tightening

monetary

policy.

Other

economies

around

the

world

generally

grew

at

a

moderate

pace,

but

persistent

inflation

was

a

common

concern.

For

the

twelve

months:

The

Russell

3000®

Index,

which

measures

the

performance

of

the

broad

U.S.

stock

market,

returned

-16.5%.

Please

see

for

benchmark

definitions.

The

MSCI

EAFE®

Index,

which

represents

stocks

in

developed-markets

nations

outside

North

America,

returned

-23.0%.

The

MSCI

Emerging

Markets

Index,

which

tracks

the

performance

of

stocks

in

developing

nations,

returned

-31.0%.

Institutional

class

returns

were

negative

for

all

TIAA-CREF

Equity

Funds.

However,

six

of

the

funds

outperformed

their

respective

benchmarks

for

the

period.

U.S.

economy

produced

mixed

results

Domestic

stocks

recorded

declines

for

the

twelve

months

as

concerns

over

inflation

and

rising

interest

rates

strained

financial

markets.

The

U.S.

economy

grew

at

a

strong

pace

in

the

fourth

quarter

of

2021,

but

it

contracted

over

the

following

two

quarters

before

expanding

again

in

the

third

quarter

of

2022. Unemployment

declined,

while

inflation

accelerated

over

the

twelve

months.

The

Fed

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022,

and

policymakers

indicated

that

ongoing

increases

would

be

appropriate.

For

the

twelve

months,

small-cap

stocks

trailed

large-

and

mid-sized

equities,

while

growth

shares

underperformed

value

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Foreign

developed

markets

lost

ground

Foreign

developed-markets

stocks

declined,

though

many

of

the

world's

larger

economies

continued

to

grow.

The

19-nation

euro

area

recorded

moderate

economic

expansion

throughout

the

period;

however,

rising

prices,

particularly

those

for

energy,

became

increasingly

worrisome.

The

European

Central

Bank

began

to

tighten

monetary

policy

with

three

increases

to

its

suite

of

benchmark

interest

rates.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

Emerging

markets

stocks

posted

losses

Of

the

countries

in

the

MSCI

Emerging

Markets

Index,

more

than

one-half

declined

in

U.S.-dollar

terms.

China,

which

accounted

for

more

than

26.0%

of

the

index

at

period-end,

registered

a

larger

loss

than

the

index,

primarily

due

to

government-imposed

restrictions.

Taiwan

and

South

Korea,

which

represented

more

than

25.0%

of

the

index

combined,

also

underperformed

the

benchmark.

Six

funds

outperformed

their

benchmarks

All

TIAA-CREF

Equity

Funds

posted

losses,

though

six

outpaced

the

returns

of

their

respective

benchmarks.

Declines

for

the

twelve

months

ranged

from

a

-5.3%

return

for

the

Mid-Cap

Value

Fund

to

a

-37.8%

return

for

the

Mid-Cap

Growth

Fund.

Fund

performance

generally

reflected

market

trends

that

did

not

favor

smaller-

cap

and

growth-oriented

shares.

The

Large-Cap

Growth

Fund

returned

-32.1%,

and

the

Mid-Cap

Growth

Fund

returned

-37.8%.

Both

funds

trailed

their

respective

benchmarks,

the

Russell

1000®

Growth

Index

and

the

Russell

Midcap®

Growth

Index.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

The

Social

Choice

Equity

Fund

returned

-16.5%

and

outpaced

the

Russell

3000

Index.

The

Social

Choice

Low

Carbon

Equity

Fund

returned

-17.3%,

lagging

the

same

benchmark.

The

Growth

&

Income

Fund

trailed

its

S&P

500®

Index

benchmark

with

a

return

of

-18.5%.

The

Quant

Small-Cap

Equity

Fund

outperformed

its

Russell

2000®

Index

benchmark

with

a

return

of

-12.4%.

The

Quant

Small/Mid-Cap

Equity

Fund's

-13.7%

return

outpaced

the

performance

of

the

Russell

2500®

Index.

The

Mid-Cap

Value

Fund's

-5.3%

return

outperformed

the

Russell

Midcap

Value

Index.

The

Large-Cap

Value

Fund

returned

-6.8%,

outpacing

the

Russell

1000

Value

Index.

Among

international

funds,

the

Emerging

Markets

Equity

Fund

returned

-31.7%

to

trail

its

benchmark,

the

MSCI

Emerging

Markets

Index.

The

International

Opportunities

Fund

returned

-30.8%,

lagging

the

MSCI

All

Country

World

(ACWI)

ex

USA

Index.

The

Quant

International

Small-Cap

Equity

Fund

returned

-26.4%,

outpacing

the

MSCI

All

Country

World

(ACWI)

ex

USA

Small

Cap

Index.

The

Social

Choice

International

Equity

Fund

returned

-23.5%,

and

the

International

Equity

Fund

returned

-25.1%.

Both

funds

trailed

their

shared

benchmark,

the

MSCI

EAFE

Index.

A

detailed

overview

of

the

financial

markets

during

the

twelve-month

period

appears

on

page

6,

and

a

discussion

of

how

each

fund

performed

in

relation

to

its

benchmark

begins

on

page

8. Navigating

markets

with

long-term

goals

in

mind

After

more

than

a

decade

of

above-average

returns

in

the

equity

markets,

a

down

year—such

as

the

one

we

are

witnessing—is

not

unusual.

Nevertheless,

it's

natural

for

investors

to

feel

concerned

when

their

portfolios

are

showing

negative

results.

As

such,

we

remind

our

investors

that,

historically,

markets

have

weathered

periods

of

volatility,

and

that

these

experiences

can

serve

to

reinforce

the

value

of

a

well-developed

investment

plan

designed

to

help

investors

achieve

their

financial

goals.

We

believe

a

diversified

portfolio

of

stocks,

bonds

and

other

assets,

managed

by

professionals,

can

play

an

important

role

in

that

strategy.

Of

course,

diversification

cannot

guarantee

against

market

losses,

and

past

performance

cannot

guarantee

future

results.

If

you

have

any

questions

or

would

like

to

talk

about

your

portfolio,

please

contact

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

We

would

be

happy

to

help

you.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

Market

monitor

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Stocks

fell

as

inflation

rose

For

the

twelve

months

ended

October

31,

2022,

U.S.

stocks

declined

as

persistent

inflation

and

rising

interest

rates

caused

concern

among

investors.

The

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.5%,

while

international

developed-

and

emerging-markets

equities

posted

larger

losses.

U.S.

economy

turned

in

mixed

performance

During

the

twelve

months,

the

U.S.

economy

experienced

periods

of

growth

and

contraction.

Strong

consumer

spending

and

solid

job

growth

gave

the

economy

a

boost,

while

increasing

inflation

and

rising

interest

rates

created

headwinds.

Real

gross

domestic

product

(GDP),

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

grew

at

an

annualized

rate

of

7.0%

during

the

fourth

quarter

of

2021. But

GDP

contracted

by

1.6%

in

the

first

quarter

of

2022

and

by

0.6%

in

the

second

quarter.

However,

GDP

expanded

by

2.6%

in

the

third

quarter

according

to

the

government's

"advance"

estimate.

The

unemployment

rate

declined

during

the

period,

dropping

from

4.2%

in

November

2021

to

3.7%

in

October

2022. The

jobless

rate

fell

to

a

low

of

3.5%

late

in

the

period,

a

level

not

seen

since

before

the

pandemic.

Core

inflation,

which

includes

all

items

except

food

and

energy,

increased

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

had

large

swings

but

ended

only

slightly

higher.

The

price

of

West

Texas

Intermediate

crude

oil

rose

from

$84

per

barrel

on

November

1,

2021,

to

less

than

$87

on

October

31,

2022. The

dollar

rose

against

most

major

currencies

during

the

period.

Small-cap

and

growth

stocks

experienced

the

largest

losses

Among

U.S.

equity

investment

styles,

small-cap

shares

underperformed

mid-

and

large-cap

stocks,

while

growth

equities

lagged

value

shares

in

all

size

categories.

Small-cap

stocks

returned

-18.5%,

while

mid-cap

stocks

returned

-17.2%

and

large-cap

equities

returned

-16.4%.

Among

small

caps,

growth

stocks

returned

-26.0%

and

value

shares

returned

-10.7%.

In

the

mid-cap

category,

growth

equities

returned

-28.9%,

while

value

stocks

returned

-10.2%.

Within

large

caps,

growth

equities

returned

-24.6%

and

value

stocks

returned

-7.0%.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

International

stocks

experienced

generally

larger

declines

for

the

period.

The

MSCI

Emerging

Markets

Index

returned

-31.0%,

while

the

MSCI

EAFE®

Index,

which

measures

stock

performance

in

developed-markets

countries

outside

North

America,

returned

-23.0%.

Rising

inflation

and

interest

rates

weighed

on

U.S.

stocks

For

the

twelve-month

period,

U.S.

equities

declined

amid

concerns

over

the

pace

of

inflation

and

rising

interest

rates.

The

Federal

Reserve

acted

forcefully

in

response

to

inflation

concerns,

increasing

the

federal

funds

target

rate

five

times

during

the

period.

The

key

short-term

interest-rate

measure

was

raised

to

3.00%–3.25%,

its

highest

level

since

2008. Policymakers

indicated

that

further

increases

were

likely

and

raised

the

benchmark

rate

again

a

few

days

after

the

period

ended.

Economies

around

the

world

grew

at

varying

rates

during

the

twelve

months.

The

19-nation

euro

area

expanded

for

four

consecutive

quarters,

but

higher

prices—particularly

those

for

energy—posed

an

increasing

challenge.

China's

economy

also

grew

at

a

moderate

rate

despite

aggressive

action

by

the

government

to

limit

exposure

to

variants.

Central

banks

moved

to

tighten

monetary

policies

in

response

to

accelerating

global

inflation.

The

European

Central

Bank

raised

its

benchmark

rates

by

a

total

of

2.00 percentage

points,

while

the

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

Global

equities

posted

declines

across

the

board

Performance

for

the

twelve

months

ended

October

31,

2022

Source:

U.S.

small-cap

growth:

Russell

2000®

Growth

Index;

U.S.

small-cap

value:

Russell

2000

Value

Index;

U.S.

mid-cap

growth:

Russell

Midcap®

Growth

Index;

U.S.

mid-cap

value:

Russell

Midcap

Value

Index;

U.S.

large-cap

growth:

Russell

1000®

Growth

Index;

U.S.

large-cap

value:

Russell

1000

Value

Index;

Emerging

markets:

MSCI

Emerging

Markets

Index;

Foreign

developed

markets:

MSCI

EAFE®

Index.

Twelve-month

returns

as

of

October

31,

2022. 7

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

About

the

funds'

benchmarks

Broad

market

indexes

The

Russell

3000®

Index

measures

the

performance

of

the

stocks

of

the

3,000

largest

publicly

traded

U.S.

companies,

based

on

market

capitalization.

The

index

measures

the

performance

of

about

98%

of

the

total

market

capitalization

of

the

publicly

traded

U.S.

equity

market.

The

MSCI

All

Country

World

ex

USA

Index

measures

the

performance

of

large-

and

mid-cap

stocks

in

developed

and

emerging-markets

countries,

excluding

the

United

States.

The

MSCI

EAFE®

Index

measures

the

performance

of

the

leading

stocks

in

developed-markets

countries

outside

North

America—in

Europe,

Australasia

and

the

Far

East.

The

MSCI

Emerging

Markets

Index

measures

the

performance

of

the

leading

stocks

in

emerging-markets

countries

in

Europe,

Asia,

Africa,

Latin

America

and

the

Middle

East.

Large-cap

indexes

The

S&P

500®

Index

is

a

market-capitalization-weighted

index

of

the

stocks

of

500

leading

companies

in

major

industries

of

the

U.S.

economy.

The

Russell

1000®

Growth

Index

is

a

subset

of

the

Russell

1000

Index,

which

measures

the

performance

of

the

stocks

of

the

1,000

largest

companies

in

the

Russell

3000

Index,

based

on

market

capitalization.

The

Russell

1000

Growth

Index

measures

the

performance

of

those

stocks

of

the

Russell

1000

Index

with

higher

relative

forecasted

growth

rates

and

price/

book

ratios.

The

Russell

1000

Value

Index

is

a

subset

of

the

Russell

1000

Index,

which

measures

the

performance

of

the

stocks

of

the

1,000

largest

companies

in

the

Russell

3000

Index,

based

on

market

capitalization.

The

Russell

1000

Value

Index

measures

the

performance

of

those

stocks

of

the

Russell

1000

Index

with

lower

relative

forecasted

growth

rates

and

price/book

ratios.

Mid-cap

indexes

The

Russell

Midcap®

Growth

Index

is

a

subset

of

the

Russell

Midcap

Index,

which

measures

the

performance

of

the

stocks

of

the

800

smallest

companies

in

the

Russell

1000

Index,

based

on

market

capitalization.

The

Russell

Midcap

Growth

Index

measures

the

performance

of

those

stocks

of

the

Russell

Midcap

Index

with

higher

relative

forecasted

growth

rates

and

price/

book

ratios.

The

Russell

Midcap

Value

Index

is

a

subset

of

the

Russell

Midcap

Index,

which

measures

the

performance

of

the

stocks

of

the

800

smallest

companies

in

the

Russell

1000

Index,

based

on

market

capitalization.

The

Russell

Midcap

Value

Index

measures

the

performance

of

those

stocks

of

the

Russell

Midcap

Index

with

lower

relative

forecasted

growth

rates

and

price/

book

ratios.

Small/mid-cap

index

The

Russell

2500®

Index

is

a

subset

of

the

Russell

3000

Index

and

measures

the

smallest

2,500

companies,

covering

small-

and

mid-cap

market

capitalizations,

in

the

Russell

3000

Index.

Small-cap

indexes

The

Russell

2000®

Index

measures

the

performance

of

the

stocks

of

the

2,000

smallest

companies

in

the

Russell

3000

Index,

based

on

market

capitalization.

The

MSCI

ACWI

ex

USA

Small

Cap

Index

measures

the

performance

of

small-cap

stocks

in

developed-markets

countries,

excluding

the

United

States,

and

emerging-markets

countries.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds'

latest

prospectus.

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

"LSE

Group").©

LSE

Group

2022. FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

"FTSE®,"

"Russell®"

and

"FTSE

Russell®"

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company's

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

MSCI

makes

no

express

or

implied

warranties

or

representations

and

shall

have

no

liability

whatsoever

with

respect

to

any

MSCI

data

contained

herein.

This

report

is

not

approved,

reviewed

or

produced

by

MSCI.

S&P

500

is

a

registered

trademark

and

service

mark

of

Standard

&

Poor's

Financial

Services,

LLC,

a

division

of

S&P

Global.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Growth

&

Income

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Growth

&

Income

Fund returned

-18.53%

for

the

Institutional

Class,

compared

with

the

-14.61% return

of

its

benchmark,

the

S&P

500®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

large-cap-oriented

S&P

500

Index

outperformed

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

which

returned

-16.52%.

A

portion

of

the

Russell

3000

Index

consists

of

small-cap

equities,

which

underperformed

large

caps

for

the

period.

Most

benchmark

sectors

declined

Seven

of

the

eleven

industry

sectors

in

the

S&P

500

Index

posted

losses

for

the

twelve

months.

Communication

services

returned

-40.6%

and

was

the

worst

performer,

hurt

by

broad

weakness

in

media

and

entertainment

stocks.

Next

came

consumer

discretionary

and

real

estate,

which

returned

-28.5%

and

-20.6%,

respectively,

followed

by

information

technology—the

largest

sector—which

returned

-20.3%.

Together,

these

four

sectors

represented

more

than

45.0%

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. Energy

was

the

best

performer,

gaining

an

impressive

65.0%.

The

defensive

consumer

staples,

utilities

and

health

care

sectors

also

advanced,

rising

4.9%,

2.9%

and

0.8%,

respectively.

For

the

twelve-month

period,

only

one

of

the

five

largest

stocks

in

the

S&P

500

Index

generated

a

return

that

surpassed

the

overall

return

of

the

index.

That

stock

was

Apple,

which

posted

a

modest

gain

amid

resilient

demand

for

the

company's

products.

The

remaining

four

stocks

lagged

the

benchmark

by

a

sizeable

margin.

Amazon.com

registered

the

sharpest

decline,

hurt

by

a

slowdown

in

its

core

retail

business,

followed

by

Tesla,

which

was

pressured

by

several

factors,

including

supply-chain

disruptions

and

higher

input

costs.

Next

in

line

were

Alphabet

(the

parent

company

of

Google)

and

Microsoft.

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark

mainly

because

of

allocation

decisions

that

did

not

perform

as

anticipated.

The

largest

detractors

were

underweight

positions

in

Chevron,

which

announced

record

profits,

and

Berkshire

Hathaway,

which

reported

earnings

growth

across

all

of

its

major

business

units.

The

next-largest

detractor

was

an

overweight

position

in

technology

company

salesforce.com,

which

performed

poorly

on

softening

customer

demand.

Other

stock

choices

bolstered

the

Fund's

relative

return.

The

top

contributors

were

an

overweight

position

in

ConocoPhillips

and

an

out-of-benchmark

position

in

Cheniere

Energy.

An

overweight

position

in

agriculture

company

Corteva

was

also

helpful,

as

the

company

experienced

strong

sales

of

its

crop-protection

products.

Large-Cap

Growth

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Large-Cap

Growth

Fund returned

-32.08%

for

the

Institutional

Class,

compared

with

the

-24.60% return

of

its

benchmark,

the

Russell

1000®

Growth

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Portfolio

managers'

comments

continued

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Eight

of

the

eleven

industry

sectors

in

the

Russell

1000

Growth

Index

registered

losses

for

the

twelve

months.

Communication

services

and

consumer

discretionary

were

the

worst

performers,

returning

-47.1%

and

-33.1%,

respectively.

Information

technology—the

largest

sector,

representing

more

than

45.0%

of

the

benchmark's

total

market

capitalization

on

October

31,

2022—returned

-23.8%

and

detracted

most

from

the

index's

performance.

Together,

these

three

sectors

accounted

for

almost

three-quarters

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. Energy

was

the

best

performer,

surging

61.6%,

followed

by

the

defensive

consumer

staples

and

utilities

sectors,

which

gained

2.8%

and

2.3%,

respectively.

For

the

twelve-month

period,

only

one

of

the

five

largest

stocks

in

the

Russell

1000

Growth

Index

posted

a

return

that

surpassed

the

overall

return

of

the

index.

That

stock

was

Apple,

which

advanced

amid

resilient

demand

for

the

company's

products.

The

remaining

four

stocks

trailed

the

benchmark

by

a

significant

margin.

Amazon.com

generated

the

steepest

decline,

hurt

by

a

slowdown

in

its

core

retail

business.

Next

came

Tesla,

followed

by

Alphabet

(the

parent

company

of

Google)

and

Microsoft.

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark

as

certain

stock

allocations

did

not

perform

as

anticipated,

most

notably

an

underweight

position

in

Apple.

The

next-largest

detractors

were

overweight

positions

in

technology

company

salesforce.com,

which

experienced

softening

demand,

and

Meta

Platforms

(Facebook),

which

faced

several

headwinds,

including

changes

to

Apple's

privacy

policy

that

reduced

spending

on

digital

advertising.

On

the

plus

side,

the

top

contributing

factor

was

an

underweight

position

in

Netflix,

which

declined

following

two

consecutive

quarters

of

subscriber

losses.

Next

came

an

overweight

position

in

credit

card

issuer

Visa

and

an

out-of-benchmark

position

in

energy

company

ConocoPhillips.

Large-Cap

Value

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Large-Cap

Value

Fund returned

-6.76%

for

the

Institutional

Class,

compared

with

the

-7.00% return

of

its

benchmark,

the

Russell

1000®

Value

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

Most

benchmark

sectors

declined

Seven

of

the

eleven

industry

sectors

in

the

Russell

1000

Value

Index

posted

losses

for

the

twelve

months.

Communication

services,

which

returned

-30.3%,

was

the

worst

performer

and

largest

detractor

from

the

index's

performance.

Information

technology

and

real

estate

were

the

next-worst

performers,

returning

-22.7%

and

-20.8%,

respectively.

Financials—the

benchmark's

largest

sector—was

more

resilient

but

still

weak

with

a

-12.9%

return.

Together,

these

four

sectors

represented

almost

45.0%

of

the

index's

total

market

capitalization

on

October

31,

2022. Energy,

which

soared

64.9%

on

elevated

oil

prices,

was

the

best-performing

sector

and

largest

contributor

to

the

index's

return.

Consumer

staples

was

the

next-best

performer,

climbing

5.2%

as

investors

rewarded

stocks

with

stable

demand

characteristics.

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

Russell

1000

Value

Index

generated

returns

that

surpassed

the

overall

return

of

the

index.

Exxon

Mobil

and

Chevron

led

the

way,

posting

outsized

gains

on

the

back

of

strong

earnings

reports

from

both

companies.

While

substantially

lower,

returns

were

also

positive

for

Johnson

&

Johnson

and

Berkshire

Hathaway.

JPMorgan

Chase

trailed

the

index

due

to

several

factors,

including

a

slowdown

in

capital

markets

activity

and

an

increase

in

reserves

set

aside

for

potential

loan

losses.

Fund

outperformed

its

benchmark

A

number

of

stock

choices

helped

the

Fund

outperform

its

benchmark.

The

top

contributor

was

an

overweight

position

in

ConocoPhillips,

which

surged

in

response

to

the

company's

strong

operating

performance

and

increases

in

the

amount

of

capital

it

expected

to

return

to

shareholders

in

2022. The

next-largest

contributors

were

overweight

positions

in

Chevron

and

EOG

Resources,

an

oil

and

gas

producer.

Conversely,

the

largest

detractor

was

a

lack

of

exposure

to

Exxon

Mobil.

An

overweight

position

in

communications

provider

Comcast

and

an

out-of-benchmark

position

in

Microsoft

also

hurt

relative

performance.

Mid-Cap

Growth

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Mid-Cap

Growth

Fund returned

-37.82%

for

the

Institutional

Class,

compared

with

the

-28.94% return

of

its

benchmark,

the

Russell

Midcap®

Growth

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Nearly

all

benchmark

sectors

declined

Nine

of

the

eleven

industry

sectors

in

the

Russell

Midcap

Growth

Index

posted

losses

for

the

twelve

months.

Communication

services

and

consumer

discretionary

were

the

worst

performers,

returning

-55.4%

and

-34.1%,

respectively.

Next

came

information

technology—the

biggest

sector—which

returned

-34.0%

and

detracted

most

from

the

index's

performance.

Together,

these

three

sectors

accounted

for

more

than

one-half

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. On

the

plus

side,

energy

was

the

best

performer,

surging

65.0%,

while

utilities

rose

2.3%.

For

the

period,

all

of

the

five

largest

stocks

in

the

Russell

Midcap

Growth

Index

registered

returns

that

surpassed

the

overall

return

of

the

benchmark.

Car

parts

retailer

AutoZone

led

the

way

and

was

the

only

positive

performer,

followed

by

software

developers

Synopsys

and

Cadence

Design

Systems.

Next

in

line

were

restaurant

chain

Chipotle

Mexican

Grill

and

medical

device

maker

DexCom.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Portfolio

managers'

comments

continued

Fund

trailed

its

benchmark

The

Fund

underperformed

its

benchmark,

as

certain

stock

allocations

did

not

perform

as

expected.

The

largest

detractor

was

an

overweight

position

in

at-home

fitness

company

Peloton

Interactive,

which

saw

sales

drop

as

pandemic

habits

waned

and

many

consumers

returned

to

the

gym.

The

next-largest

detractors

were

an

overweight

position

in

dating

giant

Match

Group

and

an

out-of-benchmark

position

in

software

firm

Qualtrics

International.

The

top

contributor

to

relative

performance

was

an

overweight

position

in

health

insurer

Molina

Healthcare,

which

raised

its

full-year

profit

outlook

alongside

several

new

contract

wins.

An

overweight

position

in

discount

retailer

Dollar

Tree

and

a

lack

of

exposure

to

technology

company

Cloudflare

were

also

helpful.

Mid-Cap

Value

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Mid-Cap

Value

Fund returned

-5.28%

for

the

Institutional

Class,

compared

with

the

-10.18% return

of

its

benchmark,

the

Russell

Midcap®

Value

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Eight

of

the

eleven

industry

sectors

in

the

Russell

Midcap

Value

Index

registered

losses

for

the

twelve

months.

Communication

services

was

the

worst

performer

with

a

-32.5%

return.

Real

estate

and

consumer

discretionary

were

the

largest

detractors

from

the

index's

performance,

returning

-19.7%

and

-21.5%,

respectively.

Financials—the

benchmark's

largest

component—

returned

-10.7%.

Together,

these

four

sectors

represented

more

than

40.0%

of

the

index's

total

market

capitalization

on

October

31,

2022. Energy

was

the

best-performing

sector,

climbing

54.5%.

The

remaining

positive

performers

were

consumer

staples

and

utilities,

which

advanced

7.5%

and

4.5%,

respectively.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

Midcap

Value

Index

posted

gains

and

exceeded

the

overall

return

of

the

index.

Agriculture

company

Corteva

led

the

way,

helped

by

strong

demand

for

its

crop-protection

products.

Next

came

energy

refiner

Phillips

66,

which

resumed

its

share

buyback

program,

followed

by

health

care

firm

Biogen,

insurer

Aflac

and

communications

equipment

provider

Motorola

Solutions.

Fund

outperformed

its

benchmark

The

Fund

declined

but

surpassed

its

benchmark

due

to

favorable

stock

selections.

The

top

contributors

were

overweight

positions

in

Pioneer

Natural

Resources

and

Valero

Energy—both

energy

companies

that

benefited

from

elevated

oil

prices.

The

next-largest

contributor

was

an

out-of-benchmark

position

in

broker-dealer

LPL

Financial

Holdings.

In

contrast,

the

largest

detractor

was

an

overweight

position

in

sports

apparel

company

Under

Armour,

which

lowered

its

full-year

earnings

forecast

as

higher

promotional

activity

pressured

margins.

An

overweight

position

in

Signature

Bank

and

an

out-of-benchmark

position

in

online

travel

company

Expedia

also

hurt

relative

returns.

Quant

Small-Cap

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Quant

Small-Cap

Equity

Fund returned

-12.42%

for

the

Institutional

Class,

compared

with

the

-18.54% return

of

its

benchmark,

the

Russell

2000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Nearly

all

benchmark

sectors

declined

Nine

of

the

eleven

industry

sectors

in

the

Russell

2000

Index

posted

losses

for

the

twelve

months.

Communication

services

was

the

worst

performer

with

a

-39.2%

return,

followed

by

health

care—the

benchmark's

largest

sector—which

returned

-31.5%

and

detracted

most

from

the

index's

performance.

The

next-largest

detractors

were

information

technology

and

consumer

discretionary,

which

returned

-30.5%

and

-27.8%,

respectively.

Together,

these

four

sectors

accounted

for

almost

45.0%

of

the

index's

total

market

capitalization

on

October

31,

2022. Energy,

which

gained

44.8%,

was

the

best-performing

sector

and

top

contributor

to

the

benchmark's

return.

Utilities

was

the

other

positive

performer,

rising

3.7%.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

2000

Index

posted

gains

and

surpassed

the

overall

return

of

the

benchmark.

Energy

companies

Murphy

Oil

and

Matador

Resources

performed

best,

climbing

sharply

higher

on

elevated

oil

prices.

Next

came

Shockwave

Medical,

which

received

approval

to

market

its

cardiovascular

disease

treatments

in

China,

and

equipment

maker

Chart

Industries,

which

reported

record

sales.

Industrial

company

RBC

Bearings

was

last

in

line

with

a

single-digit

gain.

Fund

outperformed

its

benchmark

The

Fund

declined

but

surpassed

its

benchmark

due

to

favorable

stock

selections.

The

top

contributor

was

an

overweight

position

in

PBF

Energy,

a

refiner

that

benefited

from

strong

demand

for

gasoline,

diesel

and

jet

fuel.

The

next-largest

contributors

were

overweight

positions

in

medical

diagnostics

firm

Lantheus

Holdings

and

industrial

services

company

Comfort

Systems.

The

largest

detractor

was

an

overweight

position

in

mobile

applications

provider

Digital

Turbine,

which

was

hurt

by

weakness

in

the

digital

advertisement

market.

Next

in

line

were

overweight

positions

in

biotechnology

firm

Codexis

and

software

vendor

Asana.

Quant

Small/Mid-Cap

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Quant

Small/Mid-Cap

Equity

Fund returned

-13.73%

for

the

Institutional

Class,

compared

with

the

-17.58% return

of

its

benchmark,

the

Russell

2500®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Portfolio

managers'

comments

continued

Nearly

all

benchmark

sectors

declined

Nine

of

the

eleven

industry

sectors

in

the

Russell

2500

Index

posted

losses

for

the

twelve

months.

Communication

services

was

the

worst

performer,

returning

-33.9%.

Information

technology

and

health

care

were

the

largest

detractors

from

the

index's

performance,

returning

-28.0%

and

-31.7%,

respectively.

Industrials—the

benchmark's

largest

sector—was

more

resilient

with

a

-12.9%

return.

Together,

these

four

sectors

accounted

for

almost

one-half

of

the

index's

total

market

capitalization

on

October

31,

2022. On

the

plus

side,

energy

and

utilities

gained

52.2%

and

4.2%,

respectively.

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

2500

Index

generated

returns

that

surpassed

the

overall

return

of

the

benchmark.

Broker-dealer

LPL

Financial

Holdings

led

the

way

with

an

outsized

gain,

followed

by

three

stocks

that

also

posted

strong

increases:

Steel

Dynamics,

First

Solar

and

infrastructure

company

Quanta

Services.

Financial

data

provider

FactSet

Research

Systems

registered

a

single-digit

decline.

Fund

outperformed

its

benchmark

The

Fund

declined

but

surpassed

its

benchmark

due

to

favorable

stock

selections.

The

top

contributor

was

an

overweight

position

in

oil

refiner

PBF

Energy,

which

surged

amid

robust

demand

for

gasoline,

diesel

and

jet

fuel.

Next

in

line

were

overweight

positions

in

energy

producers

SM

Energy

and

Marathon

Oil,

both

of

which

benefited

from

high

oil

and

gas

prices.

In

contrast,

the

largest

detractor

was

an

overweight

position

in

financial

services

firm

LendingClub,

which

was

hurt

by

increases

in

the

federal

funds

target

rate.

The

next-largest

detractors

were

overweight

positions

in

cloud

software

provider

Domo

and

sports

apparel

company

Under

Armour.

Social

Choice

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Social

Choice

Equity

Fund returned

-16.45%

for

the

Institutional

Class,

compared

with

the

-16.52% return

of

its

benchmark,

the

Russell

3000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Avoiding

certain

stocks

helped

the

Fund's

relative

performance

The

Fund

utilizes

environmental,

social

and

governance

(ESG)

criteria,

while

the

benchmark

does

not.

Because

of

its

ESG

criteria,

the

Fund

did

not

invest

in

a

number

of

stocks

included

in

the

Russell

3000

Index.

Excluding

these

companies

produced

mixed

results

for

the

twelve-month

period,

but

the

net

effect

was

that

the

Fund

slightly

outperformed

its

benchmark.

Among

stocks

in

which

the

Fund

was

not

invested,

omitting

Meta

Platforms

(Facebook),

Amazon.com

and

Alphabet

(the

parent

company

of

Google)—three

stocks

that

posted

sharp

declines—benefited

performance

most

relative

to

the

index.

Meta

and

Alphabet

were

hurt

by

a

slowdown

in

digital

advertising

as

companies

cut

budgets

in

anticipation

of

weaker

global

economic

growth.

Amazon's

core

retail

business

experienced

softer

demand

as

pandemic

worries

eased

and

many

consumers

returned

to

in-store

shopping.

Excluding

other

benchmark

stocks

hindered

relative

performance

By

contrast,

not

owning

Apple,

Exxon

Mobil

and

UnitedHealth

Group

had

the

most

detrimental

effect

on

the

Fund's

relative

returns.

Apple

experienced

resilient

demand

for

its

products,

despite

a

global

downturn

in

sales

of

personal

computers

and

smartphones.

Exxon

Mobil

announced

record

profits

alongside

high

oil

prices.

UnitedHealth

increased

its

annual

earnings

forecast

amid

double-digit

growth

in

its

health

services

unit.

Fund

outperformed

its

benchmark

To

compensate

for

the

exclusion

of

some

stocks

within

the

Russell

3000

Index,

the

Fund's

managers

use

quantitative

(mathematical)

modeling

and

other

techniques

in

an

attempt

to

match

the

overall

investment

characteristics

of

the

portfolio

with

those

of

its

index

and

to

manage

risk.

Of

stocks

in

which

the

Fund

was

invested,

overweight

positions

in

ConocoPhillips

and

oilfield

services

company

SLB

were

the

top

contributors

to

relative

results.

ConocoPhillips

reported

strong

operating

performance

and

increased

the

amount

of

capital

it

expected

to

return

to

shareholders

in

2022. SLB

raised

its

full-year

revenue

outlook

as

global

oil-drilling

activity

accelerated.

The

next-largest

contributor

was

an

overweight

position

in

Marathon

Oil,

which

benefited

from

elevated

energy

prices.

Conversely,

an

underweight

position

in

Chevron

was

the

largest

detractor

from

the

Fund's

relative

performance.

Next

in

line

were

overweight

positions

in

cybersecurity

software

firm

Okta

and

PayPal

Holdings.

Okta

struggled

with

integration

issues

related

to

an

acquisition

the

company

made

in

2021. PayPal

issued

a

disappointing

sales

forecast

for

2022,

citing

several

factors,

including

loss

of

business

to

a

competitor

and

the

impact

of

high

inflation

on

consumer

spending.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

Social

Choice

Low

Carbon

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Social

Choice

Low

Carbon

Equity

Fund returned

-17.30%

for

the

Institutional

Class,

compared

with

the

-16.52% return

of

its

benchmark,

the

Russell

3000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Excluding

some

stocks

hurt

the

Fund's

relative

performance

The

Fund

utilizes

environmental,

social

and

governance

(ESG)

criteria,

while

the

benchmark

does

not.

Because

of

its

ESG

criteria,

the

Fund

did

not

invest

in

a

number

of

stocks

included

in

the

Russell

3000

Index.

Avoiding

these

companies

produced

mixed

results

for

the

twelve-month

period,

but

the

net

effect

was

that

the

Fund

underperformed

its

benchmark.

Among

stocks

the

Fund

excluded,

not

owning

Apple,

Exxon

Mobil

and

Chevron—three

stocks

that

posted

gains—detracted

most

from

the

Fund's

relative

performance.

Apple

experienced

resilient

demand

for

its

products,

despite

a

global

downturn

in

sales

of

personal

computers

and

smartphones.

Both

Exxon

Mobil

and

Chevron

announced

record

profits

amid

high

oil

prices.

Omitting

other

benchmark

stocks

aided

relative

performance

In

contrast,

the

exclusion

of

Meta

Platforms

(Facebook),

Amazon.com

and

Alphabet

(the

parent

company

of

Google)

had

the

largest

positive

impact

on

the

Fund's

relative

returns.

Meta

and

Alphabet

were

hurt

by

a

slowdown

in

digital

advertising

as

companies

cut

budgets

in

anticipation

of

weaker

global

economic

growth.

Amazon's

core

retail

business

experienced

softer

demand

as

pandemic

worries

eased

and

many

consumers

returned

to

in-store

shopping.

Fund

trailed

its

benchmark

To

compensate

for

the

exclusion

of

some

stocks

within

the

Russell

3000

Index,

the

Fund's

managers

use

quantitative

(mathematical)

modeling

and

other

techniques

in

an

attempt

to

match

the

overall

investment

characteristics

of

the

portfolio

with

those

of

the

index

and

to

manage

risk.

Of

stocks

the

Fund

held,

overweight

positions

in

cybersecurity

software

firm

Okta,

PayPal

Holdings

and

SVB

Financial

were

the

largest

detractors

from

the

Fund's

relative

performance.

Okta

struggled

with

integration

issues

related

to

an

acquisition

the

company

made

in

2021. PayPal

issued

a

disappointing

sales

forecast

for

2022,

citing

several

factors,

including

loss

of

business

to

a

competitor

and

the

impact

of

high

inflation

on

consumer

spending.

SVB

Financial,

a

bank

focused

on

serving

start-up

firms

and

venture

capitalists,

lowered

its

growth

projections

as

market

volatility

and

economic

uncertainty

reduced

liquidity

flows

to

private

companies.

On

the

plus

side,

overweight

holdings

in

Cheniere

Energy,

drug

maker

Merck

and

insurer

Cigna

contributed

most

to

relative

results

among

stocks

the

Fund

held.

Cheniere,

a

liquified

natural

gas

exporter,

saw

robust

demand

from

Europe

as

Russia

cut

off

gas

supplies

to

the

region.

Merck

benefited

from

strong

sales

of

the

company's

vaccines

and

oncology

treatments.

Cigna

reported

better-than-expected

earnings,

in

part

due

to

lower

costs,

and

increased

the

size

of

its

share

repurchase

program.

Emerging

Markets

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Emerging

Markets

Equity

Fund returned

-31.68%

for

the

Institutional

Class,

compared

with

the

-31.03% return

of

its

benchmark,

the

MSCI

Emerging

Markets

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Foreign

stocks

declined

despite

continued

growth

International

stocks

in

both

developed-

and

emerging-markets

countries

lost

ground

for

the

period

despite

continued

economic

growth

among

global

economies.

The

economy

in

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2021

and

in

each

of

the

following

three

quarters,

though

the

growth

rate

decelerated

in

the

third

quarter

of

2022. China's

economy

also

grew

during

the

twelve-month

period,

but

the

country

struggled

due

to

severe

restrictions

imposed

by

the

government.

Global

central

banks

began

to

aggressively

tighten

monetary

policy

in

response

to

rising

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

five

times

to

3.00%–3.25%

during

the

twelve-month

period

ended

October

2022. The

European

Central

Bank

raised

its

benchmark

rates

three

times

for

an

overall

increase

of

2.00 percentage

points.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

developed-markets

nations

outside

North

America,

returned

–23.00%

for

the

period,

outperforming

the

return

of

the

MSCI

Emerging

Markets

Index

but

trailing

the

-16.52%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Portfolio

managers'

comments

continued

Countries

in

the

benchmark

had

mixed

returns

Of

the

country

components

in

the

MSCI

Emerging

Markets

Index,

slightly

more

than

one-half

declined

in

U.S.-dollar

terms

for

the

twelve-month

period.

Hungary

was

the

worst

performer

with

a

loss

of

–48.8%.

China,

the

largest

index

component,

returned

–47.9%.

Taiwan,

the

third-largest

index

component,

returned

–34.5%,

while

South

Korea,

the

fourth-largest,

returned

–34.3%.

Together,

these

four

countries

accounted

for

more

than

one-half

of

the

index's

total

market

capitalization

on

October

31,

2022. Turkey

performed

best

with

a

gain

of

28.1%.

Two

of

the

five

largest

stocks

in

the

MSCI

Emerging

Markets

Index

had

performance

that

exceeded

the

benchmark's

overall

return.

Reliance

Industries

rose

modestly

in

local

currency

terms,

benefiting

from

a

rise

in

oil

prices,

but

the

stock

lost

ground

in

U.S.-dollar

terms

due

to

the

dollar's

strength.

Samsung

Electronics

declined

but

outpaced

the

index.

Internet

retailer

Alibaba

Group

Holding,

internet

firm

Tencent

Holdings

and

Taiwan

Semiconductor

Manufacturing

all

trailed

the

benchmark.

Fund

trailed

its

benchmark

For

the

twelve-month

period,

the

Fund

modestly

underperformed

its

benchmark,

primarily

due

to

the

effect

of

expenses.

The

top

detractor

was

an

overweight

position

in

Brazilian

e-commerce

company

Americanas.

An

overweight

in

Chinese

artificial

intelligence

firm

Baidu,

as

well

as

an

out-of-benchmark

position

in

China-based

e-commerce

firm

iClick

Interactive

Asia

Group,

also

detracted

as

both

companies

were

hurt

by

the

slowdown

in

China's

economy.

Helping

to

partially

offset

these

factors

were

out-of-benchmark

positions

in

Arcos

Dorados

Holdings,

which

owns

the

master

franchise

for

McDonald's

restaurants

in

Latin

America

and

the

Caribbean,

and

Brazilian

retail

giant

Lojas

Americanas.

An

overweight

position

in

Peru-based

Credicorp

was

the

third-largest

contributor.

The

Fund's

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund's

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund's

net

asset

value

(NAV)

is

calculated

(see

the

Fund's

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund's

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund's

portfolio

holdings

at

the

time

the

Fund's

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

International

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

International

Equity

Fund returned

-25.14%

for

the

Institutional

Class,

compared

with

the

-23.00% return

of

its

benchmark,

the

MSCI

EAFE®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Foreign

stocks

declined

despite

continued

growth

International

stocks

in

both

developed-

and

emerging-markets

countries

lost

ground

for

the

period

despite

continued

economic

growth

among

global

economies.

The

economy

in

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2021

and

in

each

of

the

following

three

quarters,

though

the

growth

rate

decelerated

in

the

third

quarter

of

2022. China's

economy

also

grew

during

the

twelve-month

period,

but

the

country

struggled

due

to

severe

restrictions

imposed

by

the

government.

Global

central

banks

began

to

aggressively

tighten

monetary

policy

in

response

to

rising

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

five

times

to

3.00%–3.25%

during

the

twelve-month

period

ended

October

2022. The

European

Central

Bank

raised

its

benchmark

rates

three

times

for

an

overall

increase

of

2.00 percentage

points.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

The

MSCI

EAFE

Index,

which

measures

stock

performance

in

developed-markets

nations

outside

North

America,

outperformed

the

–31.03%

return

of

the

MSCI

Emerging

Markets

Index

for

the

period.

Both

indexes

trailed

the

–16.52%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

All

countries

in

the

benchmark

lost

ground

All

of

the

countries

in

the

MSCI

EAFE

Index

posted

double-digit

losses

in

U.S.-dollar

terms

for

the

twelve-month

period.

The

largest

index

components

were

Japan

(22.1%),

the

United

Kingdom

(15.6%)

and

France

(11.7%),

returning

–24.7%,

–12.4%

and

-20.4%,

respectively.

Collectively,

these

three

nations

represented

nearly

one-half

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. The

Netherlands

was

the

worst

performer,

returning

–38.7%.

Three

of

the

five

largest

stocks

in

the

MSCI

EAFE

Index

exceeded

the

benchmark's

overall

return.

Shell

performed

best

with

a

strong

double-digit

gain,

followed

by

global

drug

manufacturer

AstraZeneca,

which

also

advanced.

Swiss

pharmaceutical

manufacturer

Roche

Holding

declined

but

outpaced

the

index.

Nestle

only

slightly

trailed

the

index's

return,

while

Dutch

semiconductor

firm

ASML

Holding

posted

a

sizable

loss.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

Fund

trailed

its

benchmark

For

the

twelve

months,

the

Fund

underperformed

its

benchmark.

Top

detractors

included

an

overweight

position

in

Recruit

Holdings,

a

Japanese

human

resources

company,

as

well

as

an

out-of-benchmark

position

in

Cyprus-based

TCS

Group

Holding,

a

digital

provider

of

online

financial

and

lifestyle

services.

An

overweight

in

German-based

shoe

and

apparel

company

adidas

also

detracted

as

the

company's

stock

saw

a

steep

decline

late

in

the

period.

By

contrast,

an

overweight

position

in

Japan-based

pharmaceutical

giant

Daiichi

Sankyo,

which

had

impressive

gains

in

a

down

market,

contributed

most

to

the

Fund's

relative

performance.

Overweights

in

Norwegian

energy

company

Equinor

and

British-based

Shell

were

the

next-largest

contributors,

with

strong

performance

resulting

from

the

sharp

increase

in

energy

prices.

The

Fund's

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund's

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund's

net

asset

value

(NAV)

is

calculated

(see

the

Fund's

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund's

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund's

portfolio

holdings

at

the

time

the

Fund's

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

International

Opportunities

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

International

Opportunities

Fund returned

-30.76%

for

the

Institutional

Class,

compared

with

the

-24.73% return

of

its

benchmark,

the

MSCI

All

Country

World

ex

USA

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Foreign

stocks

declined

despite

continued

growth

International

stocks

in

both

developed-

and

emerging-markets

countries

lost

ground

for

the

period

despite

continued

economic

growth

among

global

economies.

The

economy

in

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2021

and

in

each

of

the

following

three

quarters,

though

the

growth

rate

decelerated

in

the

third

quarter

of

2022. China's

economy

also

grew

during

the

twelve-month

period

but

the

country

struggled

due

to

severe

restrictions

imposed

by

the

government.

Global

central

banks

began

to

aggressively

tighten

monetary

policy

in

response

to

rising

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

five

times

to

3.00%–3.25%

during

the

twelve-month

period

ended

October

2022. The

European

Central

Bank

raised

its

benchmark

rates

three

times

for

an

overall

increase

of

2.00 percentage

points.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

developed-markets

nations

outside

North

America,

returned

-23.00%

for

the

period.

The

MSCI

Emerging

Markets

Index

returned

-31.03%

for

the

twelve

months.

Both

indexes

lagged

the

-16.52%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Most

country

components

outperformed

the

benchmark's

return

In

U.S.-dollar

terms,

of

countries

within

the

MSCI

ACWI

ex

USA

Index

had

returns

that

exceeded

the

benchmark's

return

for

the

twelve-month

period.

The

largest

markets

were

Japan

(14.1%),

the

United

Kingdom

(10.0%)

and

Canada

(8.5%),

which

returned

-24.7%,

-12.4%

and

-13.9%,

respectively.

Collectively,

these

three

nations

represented

almost

one-third

of

the

index's

total

market

capitalization

on

October

31,

2022. Fund

underperformed

its

benchmark

The

Fund

underperformed

its

benchmark,

mainly

due

to

stock

choices

that

did

not

perform

as

expected.

The

largest

detractor

was

an

overweight

position

in

Canadian

software

firm

Lightspeed

Commerce,

which

was

hurt

by

investor

concerns

over

the

company's

quarterly

results.

The

next-largest

detractors

were

overweight

positions

in

Canadian

e-commerce

company

Shopify

and

Chinese

semiconductor

manufacturer

Silergy.

On

the

plus

side,

the

top

contributors

to

relative

performance

were

overweight

positions

in

Norwegian

energy

producer

Equinor,

Canadian

discount

retailer

Dollarama

and

Canadian

convenience

store

operator

Alimentation

Couche-Tard.

The

Fund's

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund's

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund's

net

asset

value

(NAV)

is

calculated

(see

the

Fund's

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund's

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund's

portfolio

holdings

at

the

time

the

Fund's

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Portfolio

managers'

comments

continued

Quant

International

Small-Cap

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Quant

International

Small-Cap

Equity

Fund returned

-26.44%

for

the

Institutional

Class,

compared

with

the

-27.75% return

of

its

benchmark,

the

MSCI

ACWI

ex

USA

Small

Cap

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Foreign

stocks

declined

despite

continued

growth

International

stocks

in

both

developed-

and

emerging-markets

countries

lost

ground

for

the

period

despite

continued

economic

growth

among

global

economies.

The

economy

in

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2021

and

in

each

of

the

following

three

quarters,

though

the

growth

rate

decelerated

in

the

third

quarter

of

2022. China's

economy

also

grew

during

the

twelve-month

period

but

the

country

struggled

due

to

severe

restrictions

imposed

by

the

government.

Global

central

banks

began

to

aggressively

tighten

monetary

policy

in

response

to

rising

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

five

times

to

3.00%–3.25%

during

the

twelve-month

period

ended

October

2022. The

European

Central

Bank

raised

its

benchmark

rates

three

times

for

an

overall

increase

of

2.00 percentage

points.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

developed-markets

nations

outside

North

America,

returned

-23.00%

for

the

period.

The

MSCI

Emerging

Markets

Index

returned

-31.03%

for

the

twelve

months.

Both

indexes

lagged

the

-16.52%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Most

country

components

outperformed

the

benchmark's

return

For

the

twelve-month

period,

of

countries

had

returns

that

surpassed

that

of

the

benchmark

in

U.S.-dollar

terms.

The

largest

markets

were

Japan

(20.5%),

the

United

Kingdom

(10.0%)

and

Canada

(8.0%),

which

returned

-24.9%,

-37.6%

and

-17.6%,

respectively.

Together,

these

three

nations

made

up

almost

40.0%

of

the

index's

total

market

capitalization

on

October

31,

2022. Fund

outperformed

its

benchmark

The

Fund

outperformed

its

benchmark

on

the

strength

of

several

stock

allocations.

The

top

contributor

was

an

overweight

position

in

Dutch

fertilizer

producer

OCI,

which

benefited

from

high

fertilizer

prices.

The

next-largest

contributors

were

overweight

positions

in

Canadian

energy

company

Tourmaline

Oil

and

Dutch

infrastructure

firm

Fugro.

Conversely,

the

largest

detractors

from

the

Fund's

relative

performance

were

overweight

positions

in

Swedish

sports

helmet

maker

MIPS,

Taiwanese

semiconductor

supplier

Parade

Technologies

and

Israeli

printing

solutions

provider

Kornit

Digital.

The

Fund's

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund's

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund's

net

asset

value

(NAV)

is

calculated

(see

the

Fund's

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund's

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund's

portfolio

holdings

at

the

time

the

Fund's

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

Social

Choice

International

Equity

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Social

Choice

International

Equity

Fund returned

-23.47%

for

the

Institutional

Class,

compared

with

the

-23.00% return

of

its

benchmark,

the

MSCI

EAFE®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Omitting

certain

stocks

detracted

from

the

Fund's

relative

performance

The

Fund

utilizes

environmental,

social

and

governance

(ESG)

criteria,

while

the

benchmark

does

not.

Because

of

its

ESG

criteria,

the

Fund

excluded

certain

stocks

in

the

MSCI

EAFE

Index.

Excluding

these

companies

produced

mixed

results

during

the

twelve-month

period,

but

the

net

effect

was

that

the

Fund

underperformed

its

benchmark.

Among

the

stocks

the

Fund

excluded,

leaving

out

Shell,

Novartis

and

BHP

Group

detracted

most

from

relative

results.

Shell

accelerated

share

buybacks

and

announced

plans

to

increase

its

dividend.

Swiss

drug

manufacturer

Novartis

launched

an

organizational

restructuring

expected

to

produce

substantial

cost

savings.

Australian

mining

company

BHP

Group

reported

strong

earnings

growth,

driven

by

rising

prices

of

coal

and

other

commodities

it

sells.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Excluding

other

benchmark

stocks

aided

relative

performance

In

contrast,

not

owning

Sea,

Philips

and

Adyen

helped

relative

performance

most.

Singapore-based

internet

company

Sea

experienced

a

slowdown

in

its

e-commerce

division.

Dutch

medical

equipment

maker

Philips

posted

disappointing

operating

results

amid

supply-chain

disruptions

and

weak

sales

in

China.

Dutch

digital-payments

processor

Adyen

saw

a

surge

in

costs,

which

eroded

its

profit

margins.

Fund

trailed

its

benchmark

To

compensate

for

the

exclusion

of

some

stocks

within

the

MSCI

EAFE

Index,

the

Fund's

managers

use

quantitative

(mathematical)

modeling

and

other

techniques

in

an

attempt

to

match

the

overall

investment

characteristics

of

the

portfolio

with

those

of

its

index

and

to

manage

risk.

Among

stocks

the

Fund

held,

the

largest

detractors

were

an

underweight

position

in

Australian

financial

firm

Westpac

Banking,

which

fell

less

than

the

index,

and

an

overweight

position

in

New

Zealand

software

provider

Xero,

which

reported

a

full-year

operating

loss.

An

overweight

position

in

Japanese

technology

company

Z

Holdings

also

hurt

the

Fund's

relative

performance.

Conversely,

overweight

positions

in

Norway-based

Equinor

and

French

company

TotalEnergies—both

energy

producers—were

the

top

contributors

to

relative

results

amid

high

oil

and

gas

prices.

The

next-largest

contributor

was

an

overweight

position

in

Japanese

pharmaceutical

firm

Daiichi

Sankyo,

which

benefited

from

strong

sales

of

the

company's

flagship

cancer

and

cardiovascular

treatments.

The

Fund's

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund's

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund's

net

asset

value

(NAV)

is

calculated

(see

the

Fund's

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund's

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund's

portfolio

holdings

at

the

time

the

Fund's

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

Growth

&

Income

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Growth

&

Income

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

7/1/99

-

.53

%

.53

%

.93

%

.40

%

.40

%

Advisor

Class

12/4/15

-

.59

.44

.87

†

.50

.50

Premier

Class

9/30/09

-

.62

.38

.76

.55

.55

Retirement

Class

10/1/02

-

.68

.27

.65

.65

.65

Retail

Class

3/31/06

-

.73

.23

.60

.69

.69

Class

W

9/28/18

-

.17

.89

†

.12

†

.40

.00

S&P

500®

Index

–

-

.61

.44

.79

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

Growth

&

Income

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

5.12 billion

Portfolio

turnover

rate

74%

Number

of

holdings

Weighted

median

market

capitalization

$145.62

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

21.2 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

25.4 Health

care

16.6 Financials

11.6 Consumer

discretionary

9.4 Industrials

9.1 Consumer

staples

8.0 Communication

services

6.2 Energy

6.0 Materials

3.6 Utilities

2.7 Real

estate

1.2 Short-term

investments,

other

assets

&

liabilities,

net

0.2 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

72.1 More

than

$15

billion-$50

billion

19.1 More

than

$2

billion-$15

billion

8.1 $2

billion

or

less

0.7 Total

100.0 Large-Cap

Growth

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Large-Cap

Growth

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

3/31/06

-

.08

%

.33

%

.54

%

.40

%

.40

%

Advisor

Class

12/4/15

-

.13

.25

.48

†

.48

.48

Premier

Class

9/30/09

-

.17

.17

.38

.55

.55

Retirement

Class

3/31/06

-

.22

.07

.25

.65

.65

Retail

Class

3/31/06

-

.23

.02

.19

.69

.69

Class

W

9/28/18

-

.80

.69

†

.72

†

.40

.00

Russell

1000®

Growth

Index

–

-

.60

.59

.69

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

Large-Cap

Growth

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

4.70 billion

Portfolio

turnover

rate

64%

Number

of

holdings

Weighted

median

market

capitalization

$208.06

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

31.8 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

41.1 Consumer

discretionary

19.3 Health

care

10.7 Industrials

8.5 Communication

services

8.2 Consumer

staples

5.9 Energy

2.8 Financials

2.6 Materials

1.1 Short-term

investments,

other

assets

&

liabilities,

net

-0.2

Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

81.1 More

than

$15

billion-$50

billion

15.9 More

than

$2

billion-$15

billion

2.8 $2

billion

or

less

0.2 Total

100.0 Large-Cap

Value

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Large-Cap

Value

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.76

%

.57

%

.78

%

.41

%

.41

%

Advisor

Class

12/4/15

-

.83

.52

.74

†

.49

.49

Premier

Class

9/30/09

-

.88

.41

.61

.56

.56

Retirement

Class

10/1/02

-

.00

.31

.50

.66

.66

Retail

Class

10/1/02

-

.99

.27

.44

.72

.72

Class

W

9/28/18

-

.34

.93

†

.96

†

.41

.00

Russell

1000®

Value

Index

–

-

.00

.21

.30

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

Large-Cap

Value

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

4.92 billion

Portfolio

turnover

rate

21%

Number

of

holdings

Weighted

median

market

capitalization

$139.71

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

15.8 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

22.7 Health

care

18.3 Industrials

13.8 Information

technology

10.9 Energy

9.8 Communication

services

6.4 Consumer

discretionary

5.8 Materials

4.5 Utilities

3.4 Consumer

staples

3.4 Real

estate

0.9 Short-term

investments,

other

assets

&

liabilities,

net

0.1 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

82.8 More

than

$15

billion-$50

billion

13.8 More

than

$2

billion-$15

billion

3.4 Total

100.0 Mid-Cap

Growth

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Mid-Cap

Growth

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.82

%

.02

%

.17

%

.46

%

.46

%

Advisor

Class

12/4/15

-

.90

.95

.12

†

.50

.50

Premier

Class

9/30/09

-

.92

.86

.01

.61

.61

Retirement

Class

10/1/02

-

.94

.77

.90

.71

.71

Retail

Class

10/1/02

-

.94

.73

.84

.75

.75

Russell

Midcap®

Growth

Index

–

-

.94

.66

.95

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

Mid-Cap

Growth

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

1.08 billion

Portfolio

turnover

rate

62%

Number

of

holdings

Weighted

median

market

capitalization

$20.81

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

23.3 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

27.3 Industrials

18.3 Health

care

16.6 Consumer

discretionary

14.6 Energy

5.7 Financials

5.5 Consumer

staples

4.1 Communication

services

3.1 Materials

2.7 Real

estate

1.5 Short-term

investments,

other

assets

&

liabilities,

net

0.6 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

3.3 More

than

$15

billion-$50

billion

55.9 More

than

$2

billion-$15

billion

35.9 $2

billion

or

less

4.9 Total

100.0 Mid-Cap

Value

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Mid-Cap

Value

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.28

%

.11

%

.10

%

.45

%

.45

%

Advisor

Class

12/4/15

-

.39

.01

.03

†

.54

.54

Premier

Class

9/30/09

-

.46

.95

.93

.60

.60

Retirement

Class

10/1/02

-

.54

.84

.82

.70

.70

Retail

Class

10/1/02

-

.50

.80

.77

.76

.76

Russell

Midcap®

Value

Index

–

-

.18

.49

.42

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

Mid-Cap

Value

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

1.81 billion

Portfolio

turnover

rate

80%

Number

of

holdings

Weighted

median

market

capitalization

$16.14

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

14.6 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

17.9 Industrials

17.8 Health

care

10.6 Information

technology

10.2 Real

estate

9.2 Consumer

discretionary

8.9 Energy

6.8 Materials

6.4 Utilities

6.3 Consumer

staples

3.6 Communication

services

0.6 Short-term

investments,

other

assets

&

liabilities,

net

1.7 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

13.3 More

than

$15

billion-$50

billion

39.0 More

than

$2

billion-$15

billion

46.3 $2

billion

or

less

1.4 Total

100.0 Quant

Small-Cap

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Quant

Small-Cap

Equity

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.42

%

.68

%

.24

%

.41

%

.41

%

Advisor

Class

12/4/15

-

.48

.61

.19

†

.49

.49

Premier

Class

9/30/09

-

.58

.52

.08

.56

.56

Retirement

Class

10/1/02

-

.65

.42

.97

.66

.66

Retail

Class

10/1/02

-

.67

.40

.91

.72

.72

Class

W

9/28/18

-

.05

.03

†

.43

†

.41

.00

Russell

2000®

Index

–

-

.54

.56

.93

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

Quant

Small-Cap

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

2.73 billion

Portfolio

turnover

rate

74%

Number

of

holdings

Weighted

median

market

capitalization

$2.63

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

19.3 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

17.0 Health

care

16.2 Industrials

15.7 Information

technology

13.0 Consumer

discretionary

7.9 Energy

7.5 Real

estate

6.1 Consumer

staples

4.4 Materials

4.1 Utilities

3.8 Communication

services

2.9 Short-term

investments,

other

assets

&

liabilities,

net

1.4 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$2

billion-$15

billion

63.4 $2

billion

or

less

36.6 Total

100.0 Quant

Small/Mid-Cap

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

5,

2016)

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Quant

Small/Mid-Cap

Equity

Fund

Inception

date

year

years

since

inception

gross

net

Institutional

Class

8/5/16

-

.73

%

.28

%

.96

%

.47

%

.47

%

Advisor

Class

8/5/16

-

.81

.25

.91

.59

.59

Premier

Class

8/5/16

-

.86

.11

.79

.66

.66

Retirement

Class

8/5/16

-

.93

.02

.68

.72

.72

Retail

Class

8/5/16

-

.97

.90

.55

.87

.87

Class

W

9/28/18

-

.30

.72

†

.32

†

.47

.00

Russell

2500®

Index

–

-

.58

.07

.87

‡

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

Class

W

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

Class

W

shown

for

these

periods

would

have

been

different

because

Class

W

has

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

Quant

Small/Mid-Cap

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

1.23 billion

Portfolio

turnover

rate

90%

Number

of

holdings

Weighted

median

market

capitalization

$4.61

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

17.4 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Industrials

19.2 Financials

16.4 Information

technology

14.6 Health

care

12.2 Consumer

discretionary

8.8 Real

estate

7.7 Energy

6.6 Materials

6.0 Consumer

staples

5.0 Communication

services

2.0 Utilities

1.4 Short-term

investments,

other

assets

&

liabilities,

net

0.1 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

0.4 More

than

$15

billion-$50

billion

3.3 More

than

$2

billion-$15

billion

76.0 $2

billion

or

less

20.3 Total

100.0 Social

Choice

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Social

Choice

Equity

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

7/1/99

-

.45

%

.94

%

.26

%

.17

%

.17

%

Advisor

Class

12/4/15

-

.51

.87

.21

†

.25

.25

Premier

Class

9/30/09

-

.57

.77

.09

.33

.33

Retirement

Class

10/1/02

-

.65

.67

.98

.42

.42

Retail

Class

3/31/06

-

.64

.65

.95

.44

.44

Russell

3000®

Index

–

-

.52

.87

.46

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

Social

Choice

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

6.06 billion

Portfolio

turnover

rate

19%

Number

of

holdings

527

Weighted

median

market

capitalization

$78.75

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

20.3 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

26.6 Health

care

14.6 Financials

14.3 Industrials

9.9 Consumer

discretionary

9.9 Consumer

staples

5.7 Energy

5.2 Communication

services

4.8 Utilities

3.2 Materials

2.9 Real

estate

2.6 Short-term

investments,

other

assets

&

liabilities,

net

0.3 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

63.2 More

than

$15

billion-$50

billion

25.0 More

than

$2

billion-$15

billion

10.2 $2

billion

or

less

1.6 Total

100.0 Social

Choice

Low

Carbon

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

7,

2015)

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Social

Choice

Low

Carbon

Equity

Fund

Inception

date

year

years

since

inception

gross

net

Institutional

Class

8/7/15

-

.30

%

.06

%

.73

%

.31

%

.31

%

Advisor

Class

12/4/15

-

.39

.95

.64

†

.43

.43

Premier

Class

8/7/15

-

.44

.91

.58

.46

.46

Retirement

Class

8/7/15

-

.52

.79

.45

.56

.56

Retail

Class

8/7/15

-

.51

.73

.39

.62

.62

Russell

3000®

Index

–

-

.52

.87

.53

‡

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

Social

Choice

Low

Carbon

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

1.07 billion

Portfolio

turnover

rate

28%

Number

of

holdings

Weighted

median

market

capitalization

$77.42

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

21.3 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

26.7 Health

care

15.4 Financials

13.7 Industrials

9.9 Consumer

discretionary

9.6 Consumer

staples

7.6 Communication

services

4.9 Energy

3.5 Real

estate

3.3 Materials

2.6 Utilities

2.1 Short-term

investments,

other

assets

&

liabilities,

net

0.7 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

63.2 More

than

$15

billion-$50

billion

25.8 More

than

$2

billion-$15

billion

9.5 $2

billion

or

less

1.5 Total

100.0 Emerging

Markets

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Emerging

Markets

Equity

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

8/31/10

-

.68

%

-

.49

%

-

.21

%

.88

%

.88

%

Advisor

Class

12/4/15

-

.77

-

.54

-

.26

†

.97

.97

Premier

Class

8/31/10

-

.77

-

.61

-

.36

.03

.03

Retirement

Class

8/31/10

-

.85

-

.63

-

.41

.12

.12

Retail

Class

8/31/10

-

.97

-

.85

-

.60

.31

.31

Class

W

9/28/18

-

.16

-

.82

†

.14

†

.88

.00

MSCI

Emerging

Markets

Index

–

-

.03

-

.09

.79

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

Emerging

Markets

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2022

Net

assets

$

1.57 billion

Portfolio

turnover

rate

108%

Number

of

holdings

Weighted

median

market

capitalization

$29.13

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

9.1 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

21.6 Financials

19.5 Consumer

discretionary

17.0 Communication

services

11.9 Energy

9.1 Consumer

staples

4.9 Materials

2.4 Industrials

1.4 Health

care

0.9 Short-term

investments,

other

assets

&

liabilities,

net

11.3 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

35.1 More

than

$15

billion-$50

billion

31.3 More

than

$2

billion-$15

billion

24.4 $2

billion

or

less

9.2 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

Brazil

18.3 China

14.8 India

14.5 Taiwan

11.9 Korea,

Republic

of

9.3 Mexico

7.4 South

Africa

2.3 Indonesia

2.3 Peru

2.1 Hong

Kong

1.6 5

other

nations

4.3 Short-term

investments

11.2 Total

100.0 International

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

International

Equity

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

7/1/99

-

.14

%

-

.31

%

.98

%

.46

%

.46

%

Advisor

Class

12/4/15

-

.23

-

.43

.92

†

.56

.56

Premier

Class

9/30/09

-

.24

-

.46

.83

.61

.61

Retirement

Class

10/1/02

-

.32

-

.55

.74

.71

.71

Retail

Class

3/31/06

-

.32

-

.65

.64

.80

.80

Class

W

9/28/18

-

.76

-

.92

†

.19

†

.46

.00

MSCI

EAFE®

Index

–

-

.00

-

.09

.13

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

International

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2022

Net

assets

$

6.26 billion

Portfolio

turnover

rate

21%

Number

of

holdings

Weighted

median

market

capitalization

$65.92

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

9.9 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Health

care

15.9 Industrials

15.1 Financials

12.3 Consumer

staples

11.0 Consumer

discretionary

10.8 Energy

9.2 Materials

8.6 Communication

services

3.6 Information

technology

3.4 Utilities

1.9 Short-term

investments,

other

assets

&

liabilities,

net

8.2 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

62.8 More

than

$15

billion-$50

billion

32.0 More

than

$2

billion-$15

billion

5.2 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

Japan

18.8 United

Kingdom

15.9 France

10.6 Netherlands

10.0 Germany

8.7 Australia

6.0 Switzerland

5.0 United

States

4.7 Norway

2.0 Brazil

1.8 8

other

nations

9.0 Short-term

investments

7.5 Total

100.0 International

Opportunities

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

April

12,

2013)

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

International

Opportunities

Fund

Inception

date

year

years

since

inception

gross

net

Institutional

Class

4/12/13

-

.76

%

.20

%

.44

%

.60

%

.60

%

Advisor

Class

12/4/15

-

.83

.11

.38

†

.70

.70

Premier

Class

4/12/13

-

.88

.07

.29

.77

.77

Retirement

Class

4/12/13

-

.87

.04

.23

.85

.85

Retail

Class

4/12/13

-

.02

.79

.02

.06

.06

Class

W

9/28/18

-

.39

.70

†

.71

†

.60

.00

MSCI

All

Country

World

ex

USA

Index

–

-

.73

-

.60

.39

‡

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

International

Opportunities

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2022

Net

assets

$

2.39 billion

Portfolio

turnover

rate

15%

Number

of

holdings

Weighted

median

market

capitalization

$23.45

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

16.8 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Consumer

discretionary

16.4 Information

technology

15.8 Industrials

13.6 Financials

12.4 Consumer

staples

10.8 Health

care

8.5 Materials

8.2 Energy

6.2 Communication

services

0.8 Real

estate

0.6 Short-term

investments,

other

assets

&

liabilities,

net

6.7 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

21.6 More

than

$15

billion-$50

billion

45.6 More

than

$2

billion-$15

billion

29.6 $2

billion

or

less

3.2 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

Canada

13.0 Japan

9.3 United

Kingdom

9.0 Brazil

6.6 Germany

5.2 Netherlands

5.1 Australia

4.9 France

4.9 United

States

4.2 Italy

4.2 13

other

nations

26.3 Short-term

investments

7.3 Total

100.0 Quant

International

Small-Cap

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

December

9,

2016)

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Quant

International

Small-Cap

Equity

Fund

Inception

date

year

years

since

inception

gross

net

Institutional

Class

12/9/16

-

.44

%

-

.20

%

.59

%

.71

%

.71

%

Advisor

Class

12/9/16

-

.47

-

.24

.53

.80

.80

Premier

Class

12/9/16

-

.53

-

.32

.45

.96

.90

Retirement

Class

12/9/16

-

.62

-

.41

.37

.96

.96

Retail

Class

12/9/16

-

.71

-

.60

.18

.20

.14

Class

W

9/28/18

-

.88

-

.66

†

.07

†

.71

.00

MSCI

ACWI

ex

USA

Small

Cap

Index

–

-

.75

-

.29

.83

‡

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

Class

W

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

Class

W

shown

for

these

periods

would

have

been

different

because

Class

W

has

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

Quant

International

Small-Cap

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2022

Net

assets

$

1.20 billion

Portfolio

turnover

rate

119%

Number

of

holdings

681

Weighted

median

market

capitalization

$1.65

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

8.4 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Industrials

22.9 Financials

15.8 Materials

13.3 Energy

7.7 Information

technology

7.6 Consumer

staples

7.6 Consumer

discretionary

6.8 Utilities

5.2 Health

care

5.1 Real

estate

4.9 Communication

services

2.6 Short-term

investments,

other

assets

&

liabilities,

net

0.5 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

1.6 More

than

$15

billion-$50

billion

0.6 More

than

$2

billion-$15

billion

43.2 $2

billion

or

less

54.6 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

Japan

17.5 United

Kingdom

9.0 Canada

7.8 Australia

6.4 United

States

6.2 India

5.1 Taiwan

4.2 Sweden

3.4 Korea,

Republic

of

3.2 Israel

2.8 38

other

nations

28.5 Short-term

investments

5.9 Total

100.0 Social

Choice

International

Equity

Fund

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

7,

2015)

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Social

Choice

International

Equity

Fund

Inception

date

year

years

since

inception

gross

net

Institutional

Class

8/7/15

-

.47

%

.38

%

.31

%

.36

%

.36

%

Advisor

Class

12/4/15

-

.55

.31

.24

†

.46

.46

Premier

Class

8/7/15

-

.64

.21

.14

.52

.52

Retirement

Class

8/7/15

-

.66

.14

.05

.61

.61

Retail

Class

8/7/15

-

.72

.06

.96

.70

.70

MSCI

EAFE®

Index

–

-

.00

-

.09

.75

‡

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

this

period

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

this

period

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

Social

Choice

International

Equity

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2022

Net

assets

$

1.15 billion

Portfolio

turnover

rate

15%

Number

of

holdings

Weighted

median

market

capitalization

$31.75

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

9.8 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

18.0 Industrials

13.8 Health

care

12.5 Consumer

discretionary

10.6 Consumer

staples

10.3 Information

technology

8.3 Materials

7.6 Communication

services

5.7 Energy

5.4 Utilities

3.4 Real

estate

2.7 Short-term

investments,

other

assets

&

liabilities,

net

1.7 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

35.9 More

than

$15

billion-$50

billion

36.1 More

than

$2

billion-$15

billion

28.0 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

Japan

22.1 United

Kingdom

13.6 France

9.9 United

States

8.3 Germany

7.7 Australia

5.8 Switzerland

5.3 Netherlands

3.4 Sweden

3.0 Denmark

2.7 15

other

nations

16.4 Short-term

investments

1.8 Total

100.0 47

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Expense

examples

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

examples

that

appear

in

this

report

are

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

do

not

reflect

transactional

costs.

The

examples

are

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

funds

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

reinvested

dividends

or

other

distributions.

The

examples

are

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

six-month

period

and

held

for

the

entire

period

(May

1,

2022

–

October

31,

2022).

Actual

expenses

The

first

section

in

each

table

uses

the

Fund's

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

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

incurred

during

the

period"

to

estimate

the

expenses

you

paid

during

the

six-month

period.

Some

funds

have

a

contractual

fee

reimbursement.

Had

these

not

been

in

effect,

fund

expenses

would

have

been

higher.

Hypothetical

example

for

comparison

purposes

The

second

section

in

each

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund's

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class'

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

Fund

with

the

costs

of

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

other

mutual

funds.

2.1 Growth

&

Income

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$936.37

$936.58

$935.74

$935.37

$934.92

$938.48

Expenses

incurred

during

the

period\*

$1.96

$2.40

$2.71

$3.18

$3.38

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.18

$1,022.72

$1,022.40

$1,021.92

$1,021.71

$1,025.20

Expenses

incurred

during

the

period\*

$2.05

$2.51

$2.84

$3.32

$3.53

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.40%

for

Institutional

Class,

0.49%

for

Advisor

Class,

0.56%

for

Premier

Class,

0.65%

for

Retirement

Class,

0.69%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

examples

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

2.2 Large-Cap

Growth

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$885.91

$885.32

$885.32

$885.09

$884.76

$887.64

Expenses

incurred

during

the

period\*

$1.85

$2.20

$2.56

$3.03

$3.29

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.25

$1,022.87

$1,022.49

$1,021.99

$1,021.71

$1,025.20

Expenses

incurred

during

the

period\*

$1.98

$2.37

$2.75

$3.25

$3.53

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.39%

for

Institutional

Class,

0.46%

for

Advisor

Class,

0.54%

for

Premier

Class,

0.64%

for

Retirement

Class,

0.69%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.3 Large-Cap

Value

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$985.51

$985.01

$984.49

$984.45

$984.19

$987.53

Expenses

incurred

during

the

period\*

$2.07

$2.45

$2.83

$3.32

$3.60

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.12

$1,022.73

$1,022.36

$1,021.86

$1,021.58

$1,025.20

Expenses

incurred

during

the

period\*

$2.11

$2.50

$2.88

$3.38

$3.66

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.41%

for

Institutional

Class,

0.49%

for

Advisor

Class,

0.56%

for

Premier

Class,

0.66%

for

Retirement

Class,

0.72%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.4 Mid-Cap

Growth

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$871.53

$869.88

$870.49

$870.50

$870.14

Expenses

incurred

during

the

period\*

$2.29

$4.06

$3.00

$3.47

$3.75

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.76

$1,020.87

$1,021.99

$1,021.50

$1,021.20

Expenses

incurred

during

the

period\*

$2.48

$4.38

$3.25

$3.75

$4.05

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.49%

for

Institutional

Class,

0.86%

for

Advisor

Class,

0.64%

for

Premier

Class,

0.74%

for

Retirement

Class

and

0.80%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Expense

examples

continued

2.5 Mid-Cap

Value

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$981.99

$981.41

$980.83

$980.69

$980.62

Expenses

incurred

during

the

period\*

$2.27

$2.74

$3.03

$3.52

$3.82

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.92

$1,022.44

$1,022.15

$1,021.66

$1,021.35

Expenses

incurred

during

the

period\*

$2.31

$2.80

$3.09

$3.59

$3.90

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.45%

for

Institutional

Class,

0.55%

for

Advisor

Class,

0.61%

for

Premier

Class,

0.70%

for

Retirement

Class

and

0.77%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.6 Quant

Small-Cap

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,019.56

$1,018.95

$1,018.47

$1,017.78

$1,017.43

$1,021.38

Expenses

incurred

during

the

period\*

$2.14

$2.49

$2.92

$3.42

$3.70

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.08

$1,022.74

$1,022.32

$1,021.82

$1,021.53

$1,025.20

Expenses

incurred

during

the

period\*

$2.15

$2.49

$2.92

$3.42

$3.71

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.42%

for

Institutional

Class,

0.49%

for

Advisor

Class,

0.57%

for

Premier

Class,

0.67%

for

Retirement

Class,

0.73%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.7 Quant

Small/Mid-Cap

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$972.28

$972.33

$971.73

$971.36

$971.32

$975.34

Expenses

incurred

during

the

period\*

$2.38

$2.98

$3.16

$3.61

$3.87

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.79

$1,022.18

$1,022.00

$1,021.55

$1,021.28

$1,025.20

Expenses

incurred

during

the

period\*

$2.44

$3.06

$3.24

$3.70

$3.97

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.48%

for

Institutional

Class,

0.60%

for

Advisor

Class,

0.64%

for

Premier

Class,

0.73%

for

Retirement

Class,

0.78%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

examples

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

2.8 Social

Choice

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$952.77

$952.32

$951.75

$951.59

$951.37

Expenses

incurred

during

the

period\*

$0.81

$1.23

$1.77

$2.04

$2.19

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.37

$1,023.94

$1,023.40

$1,023.11

$1,022.97

Expenses

incurred

during

the

period\*

$0.84

$1.28

$1.83

$2.12

$2.27

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.17%

for

Institutional

Class,

0.25%

for

Advisor

Class,

0.36%

for

Premier

Class,

0.42%

for

Retirement

Class

and

0.44%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

2.9 Social

Choice

Low

Carbon

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$949.04

$948.41

$947.99

$947.64

$947.13

Expenses

incurred

during

the

period\*

$1.50

$2.03

$2.24

$2.73

$2.89

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.67

$1,023.12

$1,022.91

$1,022.41

$1,022.24

Expenses

incurred

during

the

period\*

$1.56

$2.11

$2.32

$2.83

$3.00

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.31%

for

Institutional

Class,

0.41%

for

Advisor

Class,

0.46%

for

Premier

Class,

0.56%

for

Retirement

Class

and

0.59%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

3.01 Emerging

Markets

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$807.50

$806.49

$806.49

$806.53

$806.01

$810.47

Expenses

incurred

during

the

period\*

$4.12

$4.26

$4.28

$4.28

$5.48

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,020.65

$1,020.49

$1,020.47

$1,020.47

$1,019.14

$1,025.20

Expenses

incurred

during

the

period\*

$4.61

$4.76

$4.79

$4.79

$6.12

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.90%

for

Institutional

Class,

0.93%

for

Advisor

Class,

0.94%

for

Premier

Class,

0.94%

for

Retirement

Class,

1.20%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Expense

examples

continued

3.1 International

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$900.08

$899.83

$899.92

$899.19

$898.07

$902.95

Expenses

incurred

during

the

period\*

$2.24

$2.78

$2.96

$3.44

$3.93

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.85

$1,022.28

$1,022.09

$1,021.58

$1,021.07

$1,025.20

Expenses

incurred

during

the

period\*

$2.38

$2.96

$3.15

$3.66

$4.18

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.47%

for

Institutional

Class,

0.58%

for

Advisor

Class,

0.62%

for

Premier

Class,

0.72%

for

Retirement

Class,

0.82%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

3.2 International

Opportunities

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$883.82

$883.29

$883.04

$882.92

$881.77

$885.61

Expenses

incurred

during

the

period\*

$2.91

$3.38

$3.04

$3.04

$4.31

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.11

$1,021.62

$1,021.98

$1,021.98

$1,020.63

$1,025.20

Expenses

incurred

during

the

period\*

$3.13

$3.62

$3.26

$3.26

$4.63

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.61%

for

Institutional

Class,

0.71%

for

Advisor

Class,

0.64%

for

Premier

Class,

0.64%

for

Retirement

Class,

0.91%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

3.3 Quant

International

Small-Cap

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$842.62

$841.64

$841.85

$840.66

$840.98

$845.33

Expenses

incurred

during

the

period\*

$3.38

$3.40

$4.19

$4.52

$5.30

$0.02

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,021.54

$1,021.51

$1,020.66

$1,020.29

$1,019.45

$1,025.19

Expenses

incurred

during

the

period\*

$3.70

$3.73

$4.59

$4.96

$5.81

$0.02

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.73%

for

Institutional

Class,

0.73%

for

Advisor

Class,

0.90%

for

Premier

Class,

0.97%

for

Retirement

Class,

1.14%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

examples

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

3.4 Social

Choice

International

Equity

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$870.86

$870.75

$870.12

$869.57

$869.57

Expenses

incurred

during

the

period\*

$1.71

$2.25

$2.44

$2.88

$2.94

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,023.38

$1,022.80

$1,022.60

$1,022.12

$1,022.06

Expenses

incurred

during

the

period\*

$1.84

$2.44

$2.64

$3.12

$3.18

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.36%

for

Institutional

Class,

0.48%

for

Advisor

Class,

0.52%

for

Premier

Class,

0.61%

for

Retirement

Class

and

0.62%

for

Retail

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Portfolio

of

investments

Growth

&

Income

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.8%

AUTOMOBILES

&

COMPONENTS

-

.5

%

101,817

\*,n

Aptiv

plc

$

9,272,474

167,585

\*

Dr

ING

hc

F

Porsche

AG.

17,141,238

293,546

n

General

Motors

Co

11,521,681

183,286

\*,n

Tesla,

Inc

41,704,896

TOTAL

AUTOMOBILES

&

COMPONENTS

79,640,289

BANKS

-

.4

%

1,803,325

Bank

of

America

Corp

64,991,833

470,788

Fifth

Third

Bancorp

16,802,424

506,600

n

JPMorgan

Chase

&

Co

63,770,808

203,547

M&T

Bank

Corp

34,271,208

961,512

Wells

Fargo

&

Co

44,219,937

TOTAL

BANKS

224,056,210

CAPITAL

GOODS

-

.1

%

100,607

Acuity

Brands,

Inc

18,468,427

88,097

\*,n

Boeing

Co

12,554,704

91,145

Carlisle

Cos,

Inc

21,765,426

92,886

Deere

&

Co

36,766,137

212,151

Dover

Corp

27,726,014

245,471

Eaton

Corp

36,837,833

124,410

HEICO

Corp

20,234,042

269,147

Honeywell

International,

Inc

54,911,371

456,777

Ingersoll

Rand,

Inc

23,067,239

27,691

Northrop

Grumman

Corp

15,202,636

252,655

Otis

Worldwide

Corp

17,847,549

181,830

Quanta

Services,

Inc

25,827,133

229,151

Raytheon

Technologies

Corp

21,728,098

98,434

n

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

2,279,731

429,434

n

Textron,

Inc

29,390,463

TOTAL

CAPITAL

GOODS

364,606,803

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.1

%

122,197

Thomson

Reuters

Corp

12,987,097

262,012

Waste

Management,

Inc

41,494,841

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

54,481,938

CONSUMER

DURABLES

&

APPAREL

-

.2

%

42,163

\*

Deckers

Outdoor

Corp

14,754,099

1,217,263

\*

Mattel,

Inc

23,079,306

241,023

n

Nike,

Inc

(Class

B)

22,338,012

TOTAL

CONSUMER

DURABLES

&

APPAREL

60,171,417

CONSUMER

SERVICES

-

.7

%

132,957

\*,n

Airbnb,

Inc

14,214,433

55,417

Churchill

Downs,

Inc

11,521,748

216,297

Darden

Restaurants,

Inc

30,960,753

77,527

\*,n

Expedia

Group,

Inc

7,246,449

134,265

Marriott

International,

Inc

(Class

A)

21,497,169

TOTAL

CONSUMER

SERVICES

85,440,552

DIVERSIFIED

FINANCIALS

-

.9

%

192,665

American

Express

Co

28,601,119

24,600

BlackRock,

Inc

15,889,386

84,959

CME

Group,

Inc

14,723,395

567,414

Equitable

Holdings,

Inc

17,374,217

1,001,000

\*

Grab

Holdings

Ltd.

2,602,600

612,871

Morgan

Stanley

50,359,610

Portfolio

of

investments

Growth

&

Income

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS—continued

53,154

S&P

Global,

Inc

$

17,075,722

TOTAL

DIVERSIFIED

FINANCIALS

146,626,049

ENERGY

-

.0

%

253,063

n

Cheniere

Energy,

Inc

44,642,844

535,484

ConocoPhillips

67,519,177

133,837

n

EOG

Resources,

Inc

18,271,427

568,796

n

EQT

Corp

23,798,425

676,739

Exxon

Mobil

Corp

74,989,449

154,582

n

Helmerich

&

Payne,

Inc

7,653,355

229,681

n

Hess

Corp

32,403,395

698,800

n

Schlumberger

Ltd

36,358,564

TOTAL

ENERGY

305,636,636

FOOD

&

STAPLES

RETAILING

-

.5

%

918,941

Albertsons

Cos,

Inc

18,847,480

399,290

Walmart,

Inc

56,830,946

TOTAL

FOOD

&

STAPLES

RETAILING

75,678,426

FOOD,

BEVERAGE

&

TOBACCO

-

.9

%

185,412

\*

Bunge

Ltd

18,300,164

439,156

Coca-Cola

Co

26,283,487

114,772

Hershey

Co

27,404,110

284,101

Kraft

Heinz

Co

10,929,365

297,507

Lamb

Weston

Holdings,

Inc

25,651,054

467,539

Mondelez

International,

Inc

28,744,298

335,209

\*

Monster

Beverage

Corp

31,415,788

389,687

PepsiCo,

Inc

70,759,365

55,953

Pernod-Ricard

S.A.

9,820,377

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

249,308,008

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.4

%

67,335

\*

Acadia

Healthcare

Co,

Inc

5,474,335

711,113

\*

Boston

Scientific

Corp

30,656,081

432,291

\*,n

Dexcom,

Inc

52,212,107

114,401

Elevance

Health,

Inc

62,551,035

157,289

n

HCA

Healthcare,

Inc

34,205,639

54,535

Humana,

Inc

30,434,893

73,580

\*,n

Intuitive

Surgical,

Inc

18,135,263

121,866

STERIS

plc

21,031,634

105,751

Stryker

Corp

24,242,359

181,199

UnitedHealth

Group,

Inc

100,592,625

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

379,535,971

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.6

%

382,852

Colgate-Palmolive

Co

28,269,792

102,367

n

Estee

Lauder

Cos

(Class

A)

20,523,560

265,850

Procter

&

Gamble

Co

35,802,019

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

84,595,371

INSURANCE

-

.3

%

817,542

American

International

Group,

Inc

46,599,894

211,780

Chubb

Ltd

45,509,404

42,854

Everest

Re

Group

Ltd

13,827,272

603,546

Hartford

Financial

Services

Group,

Inc

43,702,766

146,543

Marsh

&

McLennan

Cos,

Inc

23,665,229

619,145

Metlife,

Inc

45,327,605

TOTAL

INSURANCE

218,632,170

MATERIALS

-

.6

%

103,004

Air

Products

&

Chemicals,

Inc

25,792,202

Portfolio

of

investments

Growth

&

Income

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

161,160

Avery

Dennison

Corp

$

27,324,678

411,662

\*

Axalta

Coating

Systems

Ltd

9,599,958

786,891

n

Corteva,

Inc

51,415,458

166,706

Linde

plc

49,570,029

158,093

Nutrien

Ltd

13,358,858

63,315

n

Sociedad

Quimica

y

Minera

de

Chile

S.A.

(ADR)

5,931,349

TOTAL

MATERIALS

182,992,532

MEDIA

&

ENTERTAINMENT

-

.5

%

1,717,187

\*

Alphabet,

Inc

(Class

C)

162,548,921

264,810

\*

Meta

Platforms,

Inc

24,669,699

71,575

\*,n

Netflix,

Inc

20,891,311

188,093

\*,n

Take-Two

Interactive

Software,

Inc

22,285,259

466,868

\*

Walt

Disney

Co

49,740,117

TOTAL

MEDIA

&

ENTERTAINMENT

280,135,307

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.2

%

388,979

AbbVie,

Inc

56,946,526

15,026

\*

Argenx

SE

5,829,036

309,631

\*,e,n

Axsome

Therapeutics,

Inc

13,979,840

23,165

\*,n

Biogen,

Inc

6,565,888

79,707

\*

BioMarin

Pharmaceutical,

Inc

6,905,017

490,348

Bristol-Myers

Squibb

Co

37,987,259

218,386

Danaher

Corp

54,961,205

191,000

Eli

Lilly

&

Co

69,159,190

383,977

Gilead

Sciences,

Inc

30,126,835

76,394

\*

IQVIA

Holdings,

Inc

16,017,530

339,532

Johnson

&

Johnson

59,068,382

452,148

Merck

&

Co,

Inc

45,757,378

195,379

Sanofi-Aventis

16,813,886

42,583

\*

Vertex

Pharmaceuticals,

Inc

13,285,896

67,351

West

Pharmaceutical

Services,

Inc

15,497,465

144,608

Zoetis,

Inc

21,803,994

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

470,705,327

REAL

ESTATE

-

.2

%

70,818

AvalonBay

Communities,

Inc

12,401,648

79,505

Extra

Space

Storage,

Inc

14,107,367

261,449

Prologis,

Inc

28,955,477

92,691

Rexford

Industrial

Realty,

Inc

5,123,959

TOTAL

REAL

ESTATE

60,588,451

RETAILING

-

.0

%

85,723

Advance

Auto

Parts,

Inc

16,280,512

1,349,071

\*,n

Amazon.com,

Inc

138,198,833

286,455

\*,n

Children's

Place,

Inc

11,595,698

128,282

n

Home

Depot,

Inc

37,988,149

65,251

Target

Corp

10,717,477

563,357

TJX

Companies,

Inc

40,618,040

TOTAL

RETAILING

255,398,709

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.1

%

254,604

\*,n

Advanced

Micro

Devices,

Inc

15,291,516

55,483

n

ASML

Holding

NV

26,211,279

115,097

Broadcom,

Inc

54,109,402

61,537

\*,n

First

Solar,

Inc

8,957,941

470,575

Marvell

Technology,

Inc

18,672,416

52,664

n

Monolithic

Power

Systems,

Inc

17,876,795

292,590

n

NVIDIA

Corp

39,490,872

177,734

n

QUALCOMM,

Inc

20,912,182

Portfolio

of

investments

Growth

&

Income

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

136,000

\*,n

Wolfspeed,

Inc

$

10,710,000

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

212,232,403

SOFTWARE

&

SERVICES

-

.7

%

100,581

Accenture

plc

28,554,946

260,360

Mastercard,

Inc

(Class

A)

85,444,945

1,232,802

n

Microsoft

Corp

286,170,328

681,990

Oracle

Corp

53,242,959

113,930

\*,n

Palo

Alto

Networks,

Inc

19,549,249

157,340

\*,n

Salesforce,

Inc

25,581,910

70,520

\*,n

ServiceNow,

Inc

29,670,585

94,020

\*,n

Synopsys,

Inc

27,505,551

163,569

Visa,

Inc

(Class

A)

33,884,954

47,763

\*

Workday,

Inc

7,442,431

TOTAL

SOFTWARE

&

SERVICES

597,047,858

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.6

%

2,313,446

Apple,

Inc

354,743,810

265,146

\*,n

Calix,

Inc

19,525,351

465,695

\*

Ciena

Corp

22,306,790

898,425

Cisco

Systems,

Inc

40,815,448

42,358

Motorola

Solutions,

Inc

10,577,216

687,104

\*

Stratasys

Ltd

9,942,395

210,877

TE

Connectivity

Ltd

25,775,496

27,456

\*

Teledyne

Technologies,

Inc

10,926,939

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

494,613,445

TELECOMMUNICATION

SERVICES

-

.7

%

2,083,200

AT&T,

Inc

37,976,736

TOTAL

TELECOMMUNICATION

SERVICES

37,976,736

TRANSPORTATION

-

.9

%

331,002

\*

Delta

Air

Lines,

Inc

11,230,898

107,968

DSV

AS

14,589,525

422,928

Knight-Swift

Transportation

Holdings,

Inc

20,313,232

TOTAL

TRANSPORTATION

46,133,655

UTILITIES

-

.7

%

399,938

Alliant

Energy

Corp

20,864,765

394,437

American

Electric

Power

Co,

Inc

34,678,901

564,487

NextEra

Energy,

Inc

43,747,743

458,175

Public

Service

Enterprise

Group,

Inc

25,689,872

374,124

RWE

AG.

14,401,954

TOTAL

UTILITIES

139,383,235

TOTAL

COMMON

STOCKS

5,105,617,498

(Cost

$3,324,472,565)

PURCHASED

OPTIONS

-

0.0%

CAPITAL

GOODS

-

.0

%

76,000

Textron,

Inc

20,900

TOTAL

CAPITAL

GOODS

20,900

TOTAL

PURCHASED

OPTIONS

20,900

(Cost

$81,342)

Portfolio

of

investments

Growth

&

Income

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

0.9%

REPURCHASE

AGREEMENT

-

.8

%

$

41,840,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

%

11/01/22

$

41,840,000

TOTAL

REPURCHASE

AGREEMENT

41,840,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.1

%

5,687,120

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

5,687,120

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

5,687,120

TOTAL

SHORT-TERM

INVESTMENTS

47,527,120

(Cost

$47,527,120)

TOTAL

INVESTMENTS

-

100.7%

5,153,165,518

(Cost

$3,372,081,027)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.7)%

(35,284,436)

NET

ASSETS

-

100.0%

$

5,117,881,082

ADR

American

Depositary

Receipt

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$13,936,134.

n

All

or

a

portion

of

these

securities

have

been

segregated

by

the

custodian

to

cover

requirements

on

open

written

options

contracts.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$41,840,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$42,676,822.

Purchased

options

outstanding

as

of

October

31,

2022

were

as

follows:

Description/underlying

investment

Number

of

contracts

Notional

amount

Exercise

price

Expiration

date

Value

Textron,

Inc,

Put

760

$

81,342

$

.00

11/18/22

$

20,900

Written

options

outstanding

as

of

October

31,

2022

were

as

follows:

Description/underlying

investment

Number

of

contracts

Notional

amount

Exercise

price

Expiration

date

Value

Advanced

Micro

Devices,

Inc,

Call

$

(277,982)

$

.00

04/21/23

$

(307,000)

Advanced

Micro

Devices,

Inc,

Put

(241,983)

.00

04/21/23

(181,000)

Airbnb,

Inc,

Call

(204,489)

.00

12/16/22

(60,610)

Airbnb,

Inc,

Put

(150,104)

.00

11/18/22

(243,200)

Airbnb,

Inc,

Put

(137,926)

.00

11/18/22

(42,940)

Amazon.com,

Inc,

Call

(44,869)

.00

12/16/22

(3,300)

Amazon.com,

Inc,

Call

534

(206,638)

.00

02/17/23

(205,590)

Amazon.com,

Inc,

Put

(55,889)

.00

12/16/22

(46,920)

Amazon.com,

Inc,

Put

(221,598)

.00

02/17/23

(209,760)

Ambarella,

Inc,

Put

(851,273)

.00

06/16/23

(869,890)

Aptiv

plc,

Call

(138,917)

.00

05/19/23

(174,900)

Aptiv

plc,

Put

(236,265)

.00

05/19/23

(148,500)

ASML

Holding

NV,

Call

(180,533)

530

.00

12/16/22

(101,150)

ASML

Holding

NV,

Put

(64,596)

.00

12/16/22

(68,850)

Axsome

Therapeutics,

Inc,

Call

(237,341)

.00

03/17/23

(33,075)

Axsome

Therapeutics,

Inc,

Call

(347,180)

.00

03/17/23

(64,000)

Axsome

Therapeutics,

Inc,

Call

(183,529)

.00

03/17/23

(20,700)

Axsome

Therapeutics,

Inc,

Put

1,270

(467,312)

.00

01/20/23

(571,500)

Axsome

Therapeutics,

Inc,

Put

840

(418,286)

.00

03/17/23

(537,600)

Biogen,

Inc,

Call

(36,404)

.00

11/18/22

(27,200)

Boeing

Co,

Call

(240,036)

.00

02/17/23

(207,225)

Boeing

Co,

Put

(214,386)

.00

02/17/23

(137,700)

Portfolio

of

investments

Growth

&

Income

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

Description/underlying

investment

Number

of

contracts

Notional

amount

Exercise

price

Expiration

date

Value

Calix,

Inc,

Call

$

(42,523)

$

.00

11/18/22

$

(57,000)

CF

Industries

Holdings,

Inc,

Put

525

(144,986)

.00

01/20/23

(87,938)

Cheniere

Energy,

Inc,

Call

(137,490)

.00

12/16/22

(57,750)

Children's

Place,

Inc,

Call

(38,745)

.00

11/18/22

(23,625)

Cloudflare,

Inc,

Put

(272,374)

.00

06/16/23

(238,400)

Corteva,

Inc,

Call

650

(167,677)

.00

03/17/23

(217,750)

Corteva,

Inc,

Put

1,300

(159,858)

.00

03/17/23

(123,500)

Crowdstrike

Holdings,

Inc,

Put

(397,985)

.00

04/21/23

(351,000)

Crown

Holdings,

Inc,

Put

800

(32,776)

.00

12/16/22

(24,000)

Dexcom,

Inc,

Call

(362,523)

.00

03/17/23

(652,600)

Dexcom,

Inc,

Put

(384,880)

.00

03/17/23

(146,400)

Dexcom,

Inc,

Put

(204,779)

.00

03/17/23

(100,100)

DocuSign,

Inc,

Put

760

(908,157)

.00

06/16/23

(824,600)

Enphase

Energy,

Inc,

Put

(414,907)

.00

12/16/22

(57,900)

EOG

Resources,

Inc,

Call

(35,831)

.00

11/18/22

(32,900)

EOG

Resources,

Inc,

Call

(126,995)

.70

12/16/22

(152,880)

EQT

Corp,

Call

500

(24,485)

.00

11/11/22

(5,000)

EQT

Corp,

Put

500

(21,985)

.00

11/18/22

(5,000)

Estee

Lauder

Cos,

Inc,

Call

(214,379)

.00

06/16/23

(115,200)

Estee

Lauder

Cos,

Inc,

Put

(443,128)

.00

06/16/23

(507,200)

Expedia

Group,

Inc,

Call

(149,147)

.00

04/21/23

(146,850)

Expedia

Group,

Inc,

Put

(40,061)

.00

11/04/22

(11,900)

Expedia

Group,

Inc,

Put

(123,917)

.00

01/20/23

(82,500)

Expedia

Group,

Inc,

Put

(222,104)

.00

04/21/23

(187,000)

First

Solar,

Inc,

Call

(33,774)

.00

11/18/22

(49,530)

Generac

Holdings,

Inc,

Put

(257,279)

.00

06/16/23

(732,780)

General

Motors

Co,

Call

1,000

(158,967)

.00

03/17/23

(156,000)

Global

Payments,

Inc,

Put

(172,212)

.00

01/20/23

(108,000)

Hasbro,

Inc,

Put

760

(32,657)

.00

11/18/22

(11,400)

HCA

Healthcare,

Inc,

Put

(73,737)

.00

11/18/22

(4,837)

Helmerich

&

Payne,

Inc,

Call

750

(95,023)

.50

12/16/22

(112,500)

Helmerich

&

Payne,

Inc,

Put

750

(96,103)

.00

12/16/22

(71,250)

Hess

Corp,

Call

(234,453)

.00

02/17/23

(195,390)

Hess

Corp,

Put

(131,583)

.00

01/20/23

(128,590)

Home

Depot,

Inc,

Call

(270,707)

.00

06/16/23

(378,600)

Home

Depot,

Inc,

Put

(419,503)

.00

06/16/23

(304,200)

IDEXX

Laboratories,

Inc,

Put

(476,913)

.00

06/16/23

(382,155)

Intel

Corp,

Put

1,000

(707,955)

.00

06/16/23

(1,215,000)

Intuitive

Surgical,

Inc,

Call

(145,911)

.00

06/16/23

(303,050)

Intuitive

Surgical,

Inc,

Put

(271,308)

.00

06/16/23

(142,500)

JPMorgan

Chase

&

Co,

Call

(110,208)

.00

01/20/23

(113,850)

Lululemon

Athletica,

Inc,

Put

(194,361)

.00

01/20/23

(85,800)

Lululemon

Athletica,

Inc,

Put

(245,033)

.00

01/20/23

(109,313)

Microsoft

Corp,

Call

(55,244)

.00

11/18/22

(7,905)

Microsoft

Corp,

Put

(25,664)

.00

11/18/22

(7,990)

Moderna,

Inc,

Put

(529,674)

.00

06/16/23

(488,395)

Monolithic

Power

Systems,

Inc,

Call

(185,358)

.00

03/17/23

(226,000)

Monolithic

Power

Systems,

Inc,

Put

(585,728)

.00

03/17/23

(420,000)

NetFlix,

Inc,

Call

(103,819)

.00

12/02/22

(51,840)

NetFlix,

Inc,

Call

(49,174)

.00

12/02/22

(21,132)

NetFlix,

Inc,

Put

(32,395)

.00

11/11/22

(6,912)

NIKE,

Inc,

Call

500

(30,995)

.00

11/18/22

(35,000)

NIKE,

Inc,

Put

500

(138,397)

.00

11/18/22

(13,750)

NVIDIA

Corp,

Call

(155,108)

.00

03/17/23

(205,800)

NVIDIA

Corp,

Put

(190,387)

.00

03/17/23

(122,500)

Palo

Alto

Networks,

Inc,

Call

(10,299)

.00

11/18/22

(12,562)

Palo

Alto

Networks,

Inc,

Call

(50,042)

.67

12/16/22

(101,505)

Paramount

Global,

Put

(32,951)

.00

01/20/23

(67,900)

Paramount

Global,

Put

(80,039)

.00

01/20/23

(174,440)

Paramount

Global,

Put

(168,889)

.00

01/20/23

(271,975)

PayPal

Holdings,

Inc,

Put

(132,291)

.00

11/18/22

(50,925)

Petco

Health

&

Wellness

Co,

Inc,

Put

1,600

(364,745)

.50

06/16/23

(492,000)

QUALCOMM,

Inc,

Call

(31,900)

.00

11/18/22

(9,135)

Salesforce,

Inc,

Put

(204,430)

.00

03/17/23

(114,000)

Schlumberger

NV,

Call

1,000

(180,417)

.00

12/16/22

(215,500)

Schlumberger

NV,

Put

1,000

(120,808)

.50

12/16/22

(68,000)

Seagen,

Inc,

Put

(40,794)

.00

12/16/22

(68,800)

Portfolio

of

investments

Growth

&

Income

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

Description/underlying

investment

Number

of

contracts

Notional

amount

Exercise

price

Expiration

date

Value

ServiceNow,

Inc,

Call

$

(61,461)

$

.00

12/16/22

$

(59,375)

ServiceNow,

Inc,

Put

(49,681)

.00

12/16/22

(49,400)

Shake

Shack,

Inc,

Put

(492,935)

.50

06/16/23

(405,600)

Snowflake,

Inc,

Put

(1,013,576)

.00

06/16/23

(1,167,600)

Sociedad

Quimica

y

Minera

de

Chile

S.A.,

Put

1,200

(1,073,640)

.00

12/16/22

(339,000)

Spirit

AeroSystems

Holdings,

Inc,

Call

880

(319,838)

.00

06/16/23

(248,600)

Spirit

AeroSystems

Holdings,

Inc,

Put

880

(124,051)

.00

11/18/22

(57,200)

Spirit

AeroSystems

Holdings,

Inc,

Put

880

(482,388)

.00

06/16/23

(501,600)

Synopsys,

Inc,

Call

(6,253)

.00

11/18/22

(2,750)

Take-Two

Interactive

Software,

Inc,

Call

(40,591)

.00

12/16/22

(30,015)

Take-Two

Interactive

Software,

Inc,

Put

(153,920)

.00

12/16/22

(121,075)

Teradyne,

Inc,

Put

520

(172,101)

.00

01/20/23

(126,100)

Tesla,

Inc,

Call

(250,748)

.00

12/16/22

(419,063)

Tesla,

Inc,

Call

(438,458)

.00

02/17/23

(617,925)

Tesla,

Inc,

Put

(466,197)

.00

12/16/22

(176,565)

Tesla,

Inc,

Put

(810,452)

.00

02/17/23

(532,950)

Textron,

Inc,

Call

760

(74,456)

.00

11/18/22

(121,600)

Textron,

Inc,

Put

760

(28,097)

.00

11/18/22

(24,700)

Ulta

Beauty,

Inc,

Put

(96,734)

.00

11/18/22

(7,000)

Wolfspeed,

Inc,

Call

(62,920)

.00

11/18/22

(3,100)

Wolfspeed,

Inc,

Call

(204,582)

.00

03/17/23

(173,800)

Wolfspeed,

Inc,

Put

(412,698)

.00

03/17/23

(446,600)

Zscaler,

Inc,

Put

(935,980)

.00

05/19/23

(796,950)

Total

43,611

$

(25,628,220)

$

(22,758,882)

Large-Cap

Growth

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

100.2%

AUTOMOBILES

&

COMPONENTS

-

.7

%

55,888

\*,e

Rivian

Automotive,

Inc

$

1,954,403

556,550

\*

Tesla,

Inc

126,637,387

TOTAL

AUTOMOBILES

&

COMPONENTS

128,591,790

CAPITAL

GOODS

-

.6

%

264,573

\*

Boeing

Co

37,704,298

142,105

Deere

&

Co

56,248,001

241,723

Safran

S.A.

26,920,663

TOTAL

CAPITAL

GOODS

120,872,962

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.4

%

652,006

Experian

Group

Ltd

20,789,380

254,685

Verisk

Analytics,

Inc

46,564,059

696,442

Waste

Connections,

Inc

91,867,664

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

159,221,103

CONSUMER

DURABLES

&

APPAREL

-

.3

%

202,910

Essilor

International

S.A.

32,085,783

144,143

Nike,

Inc

(Class

B)

13,359,173

3,378,400

Prada

S.p.A

15,391,471

TOTAL

CONSUMER

DURABLES

&

APPAREL

60,836,427

CONSUMER

SERVICES

-

.6

%

77,263

\*

Booking

Holdings,

Inc

144,441,633

705,945

\*

Las

Vegas

Sands

Corp

26,832,970

TOTAL

CONSUMER

SERVICES

171,274,603

DIVERSIFIED

FINANCIALS

-

.7

%

167,298

American

Express

Co

24,835,388

3,133,698

\*

Grab

Holdings

Ltd.

8,147,615

343,487

\*

Liberty

Media

Acquisition

Corp

3,445,175

142,152

S&P

Global,

Inc

45,666,330

TOTAL

DIVERSIFIED

FINANCIALS

82,094,508

ENERGY

-

.8

%

490,630

ConocoPhillips

61,863,536

182,192

Pioneer

Natural

Resources

Co

46,715,851

182,536

Valero

Energy

Corp

22,917,395

TOTAL

ENERGY

131,496,782

FOOD

&

STAPLES

RETAILING

-

.1

%

197,489

Costco

Wholesale

Corp

99,040,734

TOTAL

FOOD

&

STAPLES

RETAILING

99,040,734

FOOD,

BEVERAGE

&

TOBACCO

-

.8

%

1,694,442

Davide

Campari-Milano

NV

15,216,633

936,001

\*

Monster

Beverage

Corp

87,722,014

414,600

PepsiCo,

Inc

75,283,068

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

178,221,715

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.8

%

87,518

\*

Align

Technology,

Inc

17,004,747

449,260

\*

Dexcom,

Inc

54,261,623

225,122

\*

Intuitive

Surgical,

Inc

55,485,819

259,885

UnitedHealth

Group,

Inc

144,275,158

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

271,027,347

Portfolio

of

investments

Large-Cap

Growth

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

INSURANCE

-

.9

%

741,313

American

International

Group,

Inc

$

42,254,841

TOTAL

INSURANCE

42,254,841

MATERIALS

-

.1

%

287,110

Corteva,

Inc

18,759,767

107,913

Linde

plc

32,087,931

TOTAL

MATERIALS

50,847,698

MEDIA

&

ENTERTAINMENT

-

.2

%

2,397,716

\*

Alphabet,

Inc

(Class

C)

226,967,797

303,218

\*

Match

Group,

Inc

13,099,018

557,080

\*

Meta

Platforms,

Inc

51,897,573

138,600

\*

Netflix,

Inc

40,454,568

642,625

\*

ROBLOX

Corp

28,751,042

216,523

\*

Walt

Disney

Co

23,068,360

TOTAL

MEDIA

&

ENTERTAINMENT

384,238,358

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.9

%

573,778

AbbVie,

Inc

84,001,099

1,159,955

\*

Avantor,

Inc

23,396,292

444,333

\*

Horizon

Therapeutics

Plc

27,690,833

223,356

\*

Illumina,

Inc

51,108,320

280,927

Zoetis,

Inc

42,358,173

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

228,554,717

RETAILING

-

.7

%

225,710

\*

Alibaba

Group

Holding

Ltd

(ADR)

14,350,642

3,844,868

\*

Amazon.com,

Inc

393,868,278

234,489

\*

CarMax,

Inc

14,775,152

869,911

\*

Coupang,

Inc

15,023,363

545,016

eBay,

Inc

21,713,437

32,247

Kering

14,767,864

1,032,763

TJX

Companies,

Inc

74,462,212

TOTAL

RETAILING

548,960,948

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.6

%

907,349

\*

Advanced

Micro

Devices,

Inc

54,495,381

568,133

Applied

Materials,

Inc

50,160,463

170,035

Broadcom,

Inc

79,936,854

524,617

Marvell

Technology,

Inc

20,816,802

427,831

NVIDIA

Corp

57,744,350

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

263,153,850

SOFTWARE

&

SERVICES

-

.6

%

219,859

Accenture

plc

62,417,970

15,935

\*,g

Adyen

NV

22,748,787

96,479

\*

Atlassian

Corp

19,559,188

285,131

\*

DocuSign,

Inc

13,771,827

187,119

Intuit,

Inc

79,993,372

1,976,713

Microsoft

Corp

458,854,389

664,491

Oracle

Corp

51,876,812

200,716

\*

Palo

Alto

Networks,

Inc

34,440,858

405,564

\*

PayPal

Holdings,

Inc

33,897,039

764,610

\*

Qualtrics

International,

Inc

9,152,382

107,302

Roper

Technologies,

Inc

44,480,971

653,354

\*

Salesforce,

Inc

106,228,827

135,934

\*

ServiceNow,

Inc

57,192,871

98,370

\*

Synopsys,

Inc

28,778,144

1,368,635

Visa,

Inc

(Class

A)

283,526,427

Portfolio

of

investments

Large-Cap

Growth

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

concluded

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

224,699

\*

Workday,

Inc

$

35,012,598

TOTAL

SOFTWARE

&

SERVICES

1,341,932,462

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.9

%

2,112,656

Apple,

Inc

323,954,671

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

323,954,671

TRANSPORTATION

-

.5

%

2,058,281

\*

Uber

Technologies,

Inc

54,688,526

328,535

Union

Pacific

Corp

64,767,390

TOTAL

TRANSPORTATION

119,455,916

TOTAL

COMMON

STOCKS

4,706,031,432

(Cost

$3,607,424,895)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.4%

GOVERNMENT

AGENCY

DEBT

-

.2

%

$

10,000,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

12/16/22

9,951,572

TOTAL

GOVERNMENT

AGENCY

DEBT

9,951,572

REPURCHASE

AGREEMENT

-

.2

%

7,020,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

11/01/22

7,020,000

TOTAL

REPURCHASE

AGREEMENT

7,020,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.0

%

31,045

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

31,045

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

31,045

TOTAL

SHORT-TERM

INVESTMENTS

17,002,617

(Cost

$17,005,545)

TOTAL

INVESTMENTS

-

100.6%

4,723,034,049

(Cost

$3,624,430,440)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.6)%

(26,026,816)

NET

ASSETS

-

100.0%

$

4,697,007,233

ADR

American

Depositary

Receipt

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$1,002,170.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$7,020,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$7,160,403.

Portfolio

of

investments

Large-Cap

Value

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.9%

BANKS

-

.3

%

3,587,125

Bank

of

America

Corp

$

129,279,985

1,191,418

JPMorgan

Chase

&

Co

149,975,698

405,867

PNC

Financial

Services

Group,

Inc

65,681,457

1,169,723

US

Bancorp

49,654,741

2,441,212

Wells

Fargo

&

Co

112,271,340

TOTAL

BANKS

506,863,221

CAPITAL

GOODS

-

.4

%

191,672

Allegion

plc

20,081,475

175,531

\*

Boeing

Co

25,014,923

128,438

Caterpillar,

Inc

27,801,690

148,137

Deere

&

Co

58,635,587

384,179

Dover

Corp

50,208,354

384,362

Eaton

Corp

57,681,205

413,685

Honeywell

International,

Inc

84,400,014

798,801

Masco

Corp

36,960,522

226,320

Parker-Hannifin

Corp

65,773,118

1,147,077

Raytheon

Technologies

Corp

108,765,841

152,947

Trane

Technologies

plc

24,414,930

TOTAL

CAPITAL

GOODS

559,737,659

CONSUMER

DURABLES

&

APPAREL

-

.8

%

9,751

\*

NVR,

Inc

41,322,300

TOTAL

CONSUMER

DURABLES

&

APPAREL

41,322,300

CONSUMER

SERVICES

-

.6

%

15,374

\*

Booking

Holdings,

Inc

28,741,385

511,987

Hilton

Worldwide

Holdings,

Inc

69,251,362

285,508

McDonald's

Corp

77,846,611

TOTAL

CONSUMER

SERVICES

175,839,358

DIVERSIFIED

FINANCIALS

-

.5

%

484,851

American

Express

Co

71,976,131

303,028

\*

Berkshire

Hathaway,

Inc

(Class

B)

89,420,533

72,441

BlackRock,

Inc

46,790,366

404,951

Charles

Schwab

Corp

32,262,446

236,587

Goldman

Sachs

Group,

Inc

81,506,587

TOTAL

DIVERSIFIED

FINANCIALS

321,956,063

ENERGY

-

.8

%

985,638

Chevron

Corp

178,301,914

1,278,244

ConocoPhillips

161,173,786

561,918

EOG

Resources,

Inc

76,713,046

525,244

Valero

Energy

Corp

65,944,384

TOTAL

ENERGY

482,133,130

FOOD

&

STAPLES

RETAILING

-

.7

%

577,194

Walmart,

Inc

82,152,022

TOTAL

FOOD

&

STAPLES

RETAILING

82,152,022

FOOD,

BEVERAGE

&

TOBACCO

-

.0

%

760,542

Mondelez

International,

Inc

46,758,122

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

46,758,122

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.9

%

618,949

Abbott

Laboratories

61,238,814

296,117

Cigna

Corp

95,663,558

199,663

Elevance

Health,

Inc

109,169,739

231,533

HCA

Healthcare,

Inc

50,351,482

Portfolio

of

investments

Large-Cap

Value

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

698,597

Medtronic

plc

$

61,015,462

162,854

UnitedHealth

Group,

Inc

90,408,398

186,901

Zimmer

Biomet

Holdings,

Inc

21,185,228

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

489,032,681

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.7

%

255,726

Procter

&

Gamble

Co

34,438,620

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

34,438,620

INSURANCE

-

.9

%

1,319,623

American

International

Group,

Inc

75,218,511

467,141

Chubb

Ltd

100,383,930

365,007

Marsh

&

McLennan

Cos,

Inc

58,944,980

748,183

Metlife,

Inc

54,774,477

TOTAL

INSURANCE

289,321,898

MATERIALS

-

.5

%

623,361

Crown

Holdings,

Inc

42,756,331

763,488

DuPont

de

Nemours,

Inc

43,671,513

244,423

Linde

plc

72,679,179

320,932

PPG

Industries,

Inc

36,644,016

128,385

Reliance

Steel

&

Aluminum

Co

25,867,010

TOTAL

MATERIALS

221,618,049

MEDIA

&

ENTERTAINMENT

-

.0

%

704,802

\*

Alphabet,

Inc

(Class

C)

66,716,558

71,365

\*

Charter

Communications,

Inc

26,235,201

1,941,865

Comcast

Corp

(Class

A)

61,634,795

318,402

\*

Meta

Platforms,

Inc

29,662,330

564,572

\*

Walt

Disney

Co

60,149,501

TOTAL

MEDIA

&

ENTERTAINMENT

244,398,385

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.4

%

191,471

AbbVie,

Inc

28,031,355

1,103,792

Bristol-Myers

Squibb

Co

85,510,766

77,449

Danaher

Corp

19,491,590

1,024,294

Johnson

&

Johnson

178,196,427

571,541

Merck

&

Co,

Inc

57,839,949

933,198

Pfizer,

Inc

43,440,367

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

412,510,454

REAL

ESTATE

-

.9

%

414,197

Prologis,

Inc

45,872,318

TOTAL

REAL

ESTATE

45,872,318

RETAILING

-

.4

%

232,371

Home

Depot,

Inc

68,812,024

TOTAL

RETAILING

68,812,024

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.8

%

338,722

Analog

Devices,

Inc

48,308,531

388,559

Applied

Materials,

Inc

34,305,874

24,124

Broadcom,

Inc

11,341,175

44,997

Lam

Research

Corp

18,213,886

811,947

Micron

Technology,

Inc

43,926,333

227,789

NXP

Semiconductors

NV

33,275,417

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

189,371,216

SOFTWARE

&

SERVICES

-

.6

%

163,572

Accenture

plc

46,438,091

563,364

\*

Fiserv,

Inc

57,880,017

Portfolio

of

investments

Large-Cap

Value

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

263,194

Microsoft

Corp

$

61,095,223

793,452

Oracle

Corp

61,944,798

TOTAL

SOFTWARE

&

SERVICES

227,358,129

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.5

%

1,113,245

Cisco

Systems,

Inc

50,574,721

598,888

TE

Connectivity

Ltd

73,202,080

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

123,776,801

TELECOMMUNICATION

SERVICES

-

.4

%

439,798

\*

T-Mobile

US,

Inc

66,655,785

TOTAL

TELECOMMUNICATION

SERVICES

66,655,785

TRANSPORTATION

-

.4

%

726,667

\*,†,b

AMR

Corporation

7,267

1,182,776

CSX

Corp

34,371,471

302,013

Union

Pacific

Corp

59,538,843

154,015

United

Parcel

Service,

Inc

(Class

B)

25,839,096

TOTAL

TRANSPORTATION

119,756,677

UTILITIES

-

.4

%

501,914

Ameren

Corp

40,916,029

522,543

American

Electric

Power

Co,

Inc

45,941,981

1,233,557

Centerpoint

Energy,

Inc

35,292,066

589,195

NextEra

Energy,

Inc

45,662,612

TOTAL

UTILITIES

167,812,688

TOTAL

COMMON

STOCKS

4,917,497,600

(Cost

$3,482,218,769)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

1.1%

REPURCHASE

AGREEMENT

-

.1

%

$

54,025,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

%

11/01/22

54,025,000

TOTAL

REPURCHASE

AGREEMENT

54,025,000

TOTAL

SHORT-TERM

INVESTMENTS

54,025,000

(Cost

$54,025,000)

TOTAL

INVESTMENTS

-

101.0%

4,971,522,600

(Cost

$3,536,243,769)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(1.0)%

(49,476,234)

NET

ASSETS

-

100.0%

$

4,922,046,366

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. b

In

bankruptcy

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$54,025,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$55,105,581.

Mid-Cap

Growth

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.3%

CAPITAL

GOODS

-

.6

%

35,872

Carlisle

Cos,

Inc

$

8,566,234

216,116

Carrier

Global

Corp

8,592,772

22,245

L3Harris

Technologies,

Inc

5,482,725

282,630

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

6,545,711

29,491

TransDigm

Group,

Inc

16,979,738

43,545

W.W.

Grainger,

Inc

25,445,521

TOTAL

CAPITAL

GOODS

71,612,701

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.2

%

550,172

\*,e

ACV

Auctions,

Inc

5,017,569

305,198

\*

Cimpress

plc

7,105,009

478,118

\*

Driven

Brands

Holdings,

Inc

15,290,214

319,613

Experian

Group

Ltd

10,190,943

822,340

\*

First

Advantage

Corp

11,553,877

157,855

Verisk

Analytics,

Inc

28,860,630

161,112

Waste

Connections,

Inc

21,252,284

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

99,270,526

CONSUMER

DURABLES

&

APPAREL

-

.2

%

185,642

\*

Capri

Holdings

Ltd

8,480,127

82,133

Garmin

Ltd

7,230,989

18,001

\*

Lululemon

Athletica,

Inc

5,923,049

2,028,700

Prada

S.p.A

9,242,445

890,414

\*,e

Traeger,

Inc

3,695,218

TOTAL

CONSUMER

DURABLES

&

APPAREL

34,571,828

CONSUMER

SERVICES

-

.8

%

147,206

\*,e

Dutch

Bros,

Inc

5,433,373

290,486

Entain

PLC

4,202,335

499,558

European

Wax

Center,

Inc

7,183,644

158,566

\*

Expedia

Group,

Inc

14,821,164

68,937

\*

Hyatt

Hotels

Corp

6,494,555

146,195

Restaurant

Brands

International,

Inc

8,681,059

82,215

\*

Wynn

Resorts

Ltd

5,253,539

TOTAL

CONSUMER

SERVICES

52,069,669

DIVERSIFIED

FINANCIALS

-

.1

%

42,573

Ameriprise

Financial,

Inc

13,160,166

814,235

\*

Grab

Holdings

Ltd.

2,117,011

262,691

Jefferies

Financial

Group,

Inc

9,039,197

87,301

\*

Liberty

Media

Acquisition

Corp

875,629

52,370

LPL

Financial

Holdings,

Inc

13,388,391

99,537

Tradeweb

Markets,

Inc

5,482,498

TOTAL

DIVERSIFIED

FINANCIALS

44,062,892

ENERGY

-

.7

%

146,195

Cheniere

Energy,

Inc

25,790,260

307,238

Halliburton

Co

11,189,608

95,722

Pioneer

Natural

Resources

Co

24,544,078

TOTAL

ENERGY

61,523,946

FOOD

&

STAPLES

RETAILING

-

.6

%

127,027

\*

Performance

Food

Group

Co

6,610,485

TOTAL

FOOD

&

STAPLES

RETAILING

6,610,485

FOOD,

BEVERAGE

&

TOBACCO

-

.5

%

1,078,137

Davide

Campari-Milano

NV

9,682,016

396,570

Fevertree

Drinks

plc

4,335,171

93,163

\*,e

Freshpet,

Inc

5,491,959

Portfolio

of

investments

Mid-Cap

Growth

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

74,563

Hershey

Co

$

17,803,407

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

37,312,553

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.2

%

42,558

\*

Align

Technology,

Inc

8,269,019

272,022

\*

Dexcom,

Inc

32,854,817

149,413

\*

Guardant

Health,

Inc

7,395,944

74,307

\*

Molina

Healthcare,

Inc

26,665,810

80,945

\*

Veeva

Systems,

Inc

13,593,903

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

88,779,493

INSURANCE

-

.4

%

172,639

\*

Arch

Capital

Group

Ltd

9,926,742

109,750

\*,e

Trupanion,

Inc

5,539,083

TOTAL

INSURANCE

15,465,825

MATERIALS

-

.7

%

32,321

Albemarle

Corp

9,045,678

136,343

Corteva,

Inc

8,908,651

87,852

Crown

Holdings,

Inc

6,025,769

52,258

Westlake

Chemical

Corp

5,050,736

TOTAL

MATERIALS

29,030,834

MEDIA

&

ENTERTAINMENT

-

.1

%

51,361

Electronic

Arts,

Inc

6,469,432

57,266

\*

IAC

2,787,709

254,537

\*

Match

Group,

Inc

10,995,998

304,899

\*,e

ROBLOX

Corp

13,641,181

TOTAL

MEDIA

&

ENTERTAINMENT

33,894,320

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.4

%

179,129

Agilent

Technologies,

Inc

24,782,497

554,764

\*

Avantor,

Inc

11,189,590

56,948

\*

Charles

River

Laboratories

International,

Inc

12,087,213

426,302

\*

Elanco

Animal

Health,

Inc

5,622,923

238,692

\*

Horizon

Therapeutics

Plc

14,875,286

51,464

\*

Repligen

Corp

9,391,665

55,612

West

Pharmaceutical

Services,

Inc

12,796,321

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

90,745,495

REAL

ESTATE

-

.5

%

149,185

Simon

Property

Group,

Inc

16,258,181

TOTAL

REAL

ESTATE

16,258,181

RETAILING

-

.6

%

4,796

\*

AutoZone,

Inc

12,147,692

83,272

\*

Burlington

Stores,

Inc

11,904,565

116,232

\*

CarMax,

Inc

7,323,778

199,824

\*

Coupang,

Inc

3,450,960

103,745

\*

Dollar

Tree,

Inc

16,443,583

616,893

\*,e

Farfetch

Ltd

5,231,253

105,396

\*

Five

Below,

Inc

15,424,705

TOTAL

RETAILING

71,926,536

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.0

%

142,365

Entegris,

Inc

11,295,239

191,123

Marvell

Technology,

Inc

7,583,761

153,578

Microchip

Technology,

Inc

9,481,906

54,781

Monolithic

Power

Systems,

Inc

18,595,410

Portfolio

of

investments

Mid-Cap

Growth

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

51,231

NXP

Semiconductors

NV

$

7,483,824

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

54,440,140

SOFTWARE

&

SERVICES

-

.8

%

5,817

\*,g

Adyen

NV

8,304,342

453,614

\*,e

Clear

Secure,

Inc

12,256,650

136,036

\*

Datadog,

Inc

10,952,258

198,414

\*

DocuSign,

Inc

9,583,396

35,068

\*

EPAM

Systems,

Inc

12,273,800

48,881

\*

Gartner,

Inc

14,758,151

46,144

\*

HubSpot,

Inc

13,684,465

2,069,968

\*

ironSource

Ltd

6,685,997

772,017

\*

Marqeta,

Inc

6,083,494

41,003

\*

MongoDB,

Inc

7,504,779

88,399

\*

Okta,

Inc

4,960,952

62,051

\*

Palo

Alto

Networks,

Inc

10,647,331

118,404

\*

Paylocity

Holding

Corp

27,444,863

472,760

\*

Qualtrics

International,

Inc

5,658,937

2,908,255

\*

Sabre

Corp

16,896,962

256,975

\*

SentinelOne,

Inc

5,869,309

116,481

\*

Synopsys,

Inc

34,076,517

145,945

\*

Trade

Desk,

Inc

7,770,112

59,616

\*

Zscaler,

Inc

9,186,826

TOTAL

SOFTWARE

&

SERVICES

224,599,141

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.5

%

132,831

\*

Arista

Networks,

Inc

16,053,955

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

16,053,955

TRANSPORTATION

-

.4

%

638,499

\*,e

Hertz

Global

Holdings,

Inc

11,748,382

55,432

JB

Hunt

Transport

Services,

Inc

9,482,752

345,160

\*

Lyft,

Inc

(Class

A)

5,053,142

TOTAL

TRANSPORTATION

26,284,276

TOTAL

COMMON

STOCKS

1,074,512,796

(Cost

$1,137,123,198)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.1%

TRANSPORTATION

-

.1

%

169,870

Hertz

Global

Holdings,

Inc

06/30/51

1,732,674

TOTAL

TRANSPORTATION

1,732,674

TOTAL

RIGHTS/WARRANTS

1,732,674

(Cost

$2,029,946)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

2.7%

REPURCHASE

AGREEMENT

-

.2

%

$

2,380,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

%

11/01/22

2,380,000

TOTAL

REPURCHASE

AGREEMENT

2,380,000

Portfolio

of

investments

Mid-Cap

Growth

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

SHARES

COMPANY

RATE

EXP

VALUE

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.5

%

26,810,407

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

%

$

26,810,407

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

26,810,407

TOTAL

SHORT-TERM

INVESTMENTS

29,190,407

(Cost

$29,190,407)

TOTAL

INVESTMENTS

-

102.1%

1,105,435,877

(Cost

$1,168,343,551)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(2.1)%

(22,949,600)

NET

ASSETS

-

100.0%

$

1,082,486,277

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$40,613,118.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$2,380,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.625%

and

maturity

date

4/15/25,

valued

at

$2,427,671.

Mid-Cap

Value

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

98.3%

BANKS

-

.1

%

235,934

Citizens

Financial

Group,

Inc

$

9,649,701

282,755

East

West

Bancorp,

Inc

20,236,775

368,061

First

Interstate

Bancsystem,

Inc

16,787,262

1,764,556

Huntington

Bancshares,

Inc

26,785,960

115,942

Signature

Bank

18,380,285

342,006

Webster

Financial

Corp

18,557,246

TOTAL

BANKS

110,397,229

CAPITAL

GOODS

-

.6

%

577,617

Carrier

Global

Corp

22,966,052

202,559

Crane

Holdings

Co

20,324,770

145,129

Curtiss-Wright

Corp

24,357,000

186,706

Dover

Corp

24,400,607

129,118

Eaton

Corp

19,376,738

541,175

Howmet

Aerospace,

Inc

19,238,771

322,185

Johnson

Controls

International

plc

18,635,181

97,404

Parker-Hannifin

Corp

28,307,551

132,732

Regal-Beloit

Corp

16,795,907

74,614

Rockwell

Automation,

Inc

19,048,954

708,827

Vertiv

Holdings

Co

10,143,314

156,092

\*

WESCO

International,

Inc

21,504,795

201,608

Westinghouse

Air

Brake

Technologies

Corp

18,805,994

TOTAL

CAPITAL

GOODS

263,905,634

CONSUMER

DURABLES

&

APPAREL

-

.6

%

231,714

Brunswick

Corp

16,375,228

1,252,705

Newell

Brands

Inc

17,299,856

2,012,402

\*

Under

Armour,

Inc

(Class

C)

13,201,357

TOTAL

CONSUMER

DURABLES

&

APPAREL

46,876,441

CONSUMER

SERVICES

-

.9

%

177,514

\*

Expedia

Group,

Inc

16,592,233

208,465

\*

Las

Vegas

Sands

Corp

7,923,755

266,754

MGM

Resorts

International

9,488,440

547,934

Travel

&

Leisure

Co

20,810,533

216,988

Wyndham

Hotels

&

Resorts,

Inc

16,475,899

TOTAL

CONSUMER

SERVICES

71,290,860

DIVERSIFIED

FINANCIALS

-

.1

%

115,178

Ameriprise

Financial,

Inc

35,603,823

771,572

Equitable

Holdings,

Inc

23,625,535

102,679

LPL

Financial

Holdings,

Inc

26,249,886

172,315

OneMain

Holdings,

Inc

6,644,467

TOTAL

DIVERSIFIED

FINANCIALS

92,123,711

ENERGY

-

.8

%

249,825

\*

Antero

Resources

Corp

9,158,585

233,696

Devon

Energy

Corp

18,076,386

114,175

Diamondback

Energy,

Inc

17,938,034

159,739

Phillips

16,659,180

134,240

Pioneer

Natural

Resources

Co

34,420,478

211,801

Valero

Energy

Corp

26,591,616

TOTAL

ENERGY

122,844,279

FOOD

&

STAPLES

RETAILING

-

.5

%

859,573

Albertsons

Cos,

Inc

17,629,842

516,614

\*

Performance

Food

Group

Co

26,884,593

TOTAL

FOOD

&

STAPLES

RETAILING

44,514,435

Portfolio

of

investments

Mid-Cap

Value

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO

-

.1

%

493,092

Kraft

Heinz

Co

$

18,969,249

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

18,969,249

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.7

%

458,211

Baxter

International,

Inc

24,903,768

321,885

Cardinal

Health,

Inc

24,431,071

190,498

\*

Centene

Corp

16,217,095

58,826

Cigna

Corp

19,004,327

36,908

Humana,

Inc

20,597,617

47,028

\*

Molina

Healthcare,

Inc

16,876,468

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

122,030,346

INSURANCE

-

.7

%

340,159

American

International

Group,

Inc

19,389,063

406,848

\*

BRP

Group,

Inc

11,534,141

64,282

Everest

Re

Group

Ltd

20,741,230

332,091

Metlife,

Inc

24,312,382

81,435

Prudential

Financial,

Inc

8,566,148

443,003

Unum

Group

20,196,507

73,853

Willis

Towers

Watson

plc

16,115,463

TOTAL

INSURANCE

120,854,934

MATERIALS

-

.4

%

1,591,275

e

Ardagh

Metal

Packaging

S.A.

7,065,261

796,337

\*

Axalta

Coating

Systems

Ltd

18,570,579

500,477

Corteva,

Inc

32,701,167

199,016

Crown

Holdings,

Inc

13,650,507

443,069

DuPont

de

Nemours,

Inc

25,343,547

825,499

Graphic

Packaging

Holding

Co

18,953,457

TOTAL

MATERIALS

116,284,518

MEDIA

&

ENTERTAINMENT

-

.6

%

137,543

\*

Ziff

Davis

Inc

10,644,453

TOTAL

MEDIA

&

ENTERTAINMENT

10,644,453

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.9

%

64,117

\*

Biogen,

Inc

18,173,323

723,999

\*

Elanco

Animal

Health,

Inc

9,549,547

127,574

\*

Jazz

Pharmaceuticals

plc

18,343,865

105,114

\*

United

Therapeutics

Corp

24,231,930

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

70,298,665

REAL

ESTATE

-

.2

%

649,906

American

Homes

Rent

20,757,998

584,009

Apartment

Income

REIT

Corp

22,443,466

112,416

Extra

Space

Storage,

Inc

19,947,095

425,611

Gaming

and

Leisure

Properties,

Inc

21,331,623

946,130

Kimco

Realty

Corp

20,228,259

1,487,586

Medical

Properties

Trust,

Inc

17,032,860

140,351

Sun

Communities,

Inc

18,926,332

797,339

VICI

Properties,

Inc

25,530,795

TOTAL

REAL

ESTATE

166,198,428

RETAILING

-

.4

%

157,310

Advance

Auto

Parts,

Inc

29,876,315

72,207

Lithia

Motors,

Inc

(Class

A)

14,307,817

TOTAL

RETAILING

44,184,132

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.0

%

52,049

Lam

Research

Corp

21,068,394

Portfolio

of

investments

Mid-Cap

Value

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

287,477

Micron

Technology,

Inc

$

15,552,506

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

36,620,900

SOFTWARE

&

SERVICES

-

.0

%

703,817

\*

DXC

Technology

Co

20,234,739

243,737

Fidelity

National

Information

Services,

Inc

20,227,734

257,823

\*

Fiserv,

Inc

26,488,735

1,064,406

NortonLifelock,

Inc

23,981,067

TOTAL

SOFTWARE

&

SERVICES

90,932,275

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.2

%

519,584

\*

Ciena

Corp

24,888,074

2,282,227

Hewlett

Packard

Enterprise

Co

32,567,379

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

57,455,453

TRANSPORTATION

-

.2

%

395,876

\*

Delta

Air

Lines,

Inc

13,432,073

272,949

\*

Kirby

Corp

19,038,193

387,386

\*

Southwest

Airlines

Co

14,081,481

126,307

e

TFI

International,

Inc

11,497,726

TOTAL

TRANSPORTATION

58,049,473

UTILITIES

-

.3

%

652,762

Alliant

Energy

Corp

34,054,594

285,563

American

Electric

Power

Co,

Inc

25,106,699

539,204

Brookfield

Renewable

Corp

16,731,500

355,390

Evergy,

Inc

21,724,991

252,349

Xcel

Energy,

Inc

16,430,443

TOTAL

UTILITIES

114,048,227

TOTAL

COMMON

STOCKS

1,778,523,642

(Cost

$1,666,163,888)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.7%

REPURCHASE

AGREEMENT

-

.5

%

$

8,540,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

%

11/01/22

8,540,000

TOTAL

REPURCHASE

AGREEMENT

8,540,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.2

%

3,846,798

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

3,846,798

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

3,846,798

TOTAL

SHORT-TERM

INVESTMENTS

12,386,798

(Cost

$12,386,798)

TOTAL

INVESTMENTS

-

99.0%

1,790,910,440

(Cost

$1,678,550,686)

OTHER

ASSETS

&

LIABILITIES,

NET

-

1.0%

17,785,158

NET

ASSETS

-

100.0%

$

1,808,695,598

REIT

Real

Estate

Investment

Trust

Portfolio

of

investments

Mid-Cap

Value

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$3,931,284.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$8,540,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.250%

and

maturity

date

9/30/25,

valued

at

$8,710,829.

Quant

Small-Cap

Equity

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

98.6%

AUTOMOBILES

&

COMPONENTS

-

.2

%

131,960

\*

Fox

Factory

Holding

Corp

$

11,592,686

873,990

\*

Goodyear

Tire

&

Rubber

Co

11,099,673

376,740

\*

Tenneco,

Inc

7,421,778

47,500

\*

XPEL,

Inc

3,286,525

TOTAL

AUTOMOBILES

&

COMPONENTS

33,400,662

BANKS

-

.5

%

98,930

Amalgamated

Financial

Corp

2,274,401

54,990

Ameris

Bancorp

2,832,535

380,260

Associated

Banc-Corp

9,259,331

175,030

\*

Axos

Financial,

Inc

6,819,169

139,331

Bank

of

NT

Butterfield

&

Son

Ltd

4,812,493

137,974

Banner

Corp

10,313,556

556,660

Cadence

BanCorp

15,391,649

255,090

Cathay

General

Bancorp

11,632,104

159,240

Central

Pacific

Financial

Corp

3,267,605

312,040

Columbia

Banking

System,

Inc

10,443,979

164,623

ConnectOne

Bancorp,

Inc

4,123,806

178,230

\*

Customers

Bancorp,

Inc

6,004,569

356,200

CVB

Financial

Corp

10,230,064

170,700

Eagle

Bancorp,

Inc

7,729,296

183,000

Enact

Holdings,

Inc

4,692,120

99,980

Enterprise

Financial

Services

Corp

5,345,931

297,760

Essent

Group

Ltd

11,785,341

33,570

Federal

Agricultural

Mortgage

Corp

(FAMC)

3,867,264

169,180

First

Busey

Corp

4,468,044

95,450

First

Financial

Corp

4,628,370

253,180

First

Foundation,

Inc

4,040,753

165,744

First

Interstate

Bancsystem,

Inc

7,559,584

174,680

First

Merchants

Corp

7,843,132

260,120

Hancock

Whitney

Corp

14,532,904

123,860

Heartland

Financial

USA,

Inc

6,108,775

198,300

Heritage

Commerce

Corp

2,835,690

401,800

Home

Bancshares,

Inc

10,241,882

147,370

Horizon

Bancorp

2,197,287

83,609

Independent

Bank

Corp

1,933,876

183,670

Lakeland

Bancorp,

Inc

3,425,445

77,520

\*

Metropolitan

Bank

Holding

Corp

5,116,320

121,560

\*

Mr

Cooper

Group,

Inc

4,800,404

132,870

National

Bank

Holdings

Corp

5,822,363

405,285

\*

NMI

Holdings,

Inc

8,887,900

271,640

OceanFirst

Financial

Corp

6,133,631

441,880

OFG

Bancorp

12,319,614

375,590

Old

National

Bancorp

7,346,540

259,960

Pacific

Premier

Bancorp,

Inc

9,465,144

56,740

Peapack

Gladstone

Financial

Corp

2,245,202

47,410

Premier

Financial

Corp

1,367,779

64,065

QCR

Holdings,

Inc

3,248,736

692,050

Radian

Group,

Inc

14,443,084

223,940

Renasant

Corp

9,040,458

230,100

Towne

Bank

7,579,494

41,920

Trico

Bancshares

2,427,587

419,152

United

Community

Banks,

Inc

16,137,352

268,310

Washington

Federal,

Inc

10,383,597

180,760

WesBanco,

Inc

7,309,934

111,670

Westamerica

Bancorporation

7,005,059

TOTAL

BANKS

341,721,153

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS

-

.9

%

236,180

Altra

Industrial

Motion

Corp

$

14,203,865

110,020

Applied

Industrial

Technologies,

Inc

13,684,288

158,453

\*

Atkore

International

Group,

Inc

15,100,571

220,880

Comfort

Systems

USA,

Inc

27,230,086

108,250

\*

Construction

Partners

Inc

3,370,905

44,319

CSW

Industrials,

Inc

5,713,605

70,810

e

Encore

Wire

Corp

9,742,748

121,400

\*

Energy

Recovery,

Inc

3,123,622

153,960

Enerpac

Tool

Group

Corp

3,912,124

482,090

\*,e

Enovix

Corp

9,097,038

80,865

EnPro

Industries,

Inc

8,612,122

111,910

\*

Evoqua

Water

Technologies

Corp

4,384,634

299,600

Federal

Signal

Corp

13,976,340

427,570

\*

Fluor

Corp

12,938,268

69,720

Franklin

Electric

Co,

Inc

5,712,857

58,010

H&E

Equipment

Services,

Inc

2,190,458

456,630

\*

Janus

International

Group,

Inc

4,397,347

42,750

Kaman

Corp

1,372,275

154,850

Kennametal,

Inc

4,136,043

51,110

McGrath

RentCorp

4,806,895

591,291

\*

MRC

Global,

Inc

5,930,649

172,480

Mueller

Industries,

Inc

10,804,147

714,710

\*

NOW,

Inc

9,098,258

56,080

\*

NV5

Global

Inc

8,128,796

199,310

\*

Parsons

Corp

9,343,653

333,580

\*

PGT

Innovations,

Inc

7,108,590

170,030

Rush

Enterprises,

Inc

(Class

A)

8,482,797

99,340

\*

SPX

Technologies,

Inc

6,540,546

42,060

Standex

International

Corp

4,166,043

473,480

\*,e

Stem,

Inc

6,439,328

154,390

Terex

Corp

6,258,971

136,450

\*

Titan

Machinery,

Inc

4,691,151

450,070

\*

Triumph

Group,

Inc

4,073,133

169,730

UFP

Industries,

Inc

12,089,868

284,870

Wabash

National

Corp

6,167,436

304,900

\*

WillScot

Mobile

Mini

Holdings

Corp

12,967,397

370,534

Zurn

Water

Solutions

Corp

8,703,844

TOTAL

CAPITAL

GOODS

298,700,698

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.7

%

39,320

Brink's

Co

2,344,651

207,740

\*

CBIZ,

Inc

10,312,214

102,242

Exponent,

Inc

9,739,573

380,520

\*

First

Advantage

Corp

5,346,306

84,360

\*

Franklin

Covey

Co

4,268,616

95,640

Heidrick

&

Struggles

International,

Inc

2,693,222

106,310

\*

Huron

Consulting

Group,

Inc

7,827,605

73,963

ICF

International,

Inc

8,848,194

170,960

KBR,

Inc

8,508,679

102,880

Kforce,

Inc

6,509,218

38,320

Korn/Ferry

International

2,130,209

209,170

\*

TrueBlue,

Inc

4,112,282

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

72,640,769

CONSUMER

DURABLES

&

APPAREL

-

.9

%

456,890

\*

Callaway

Golf

Co

8,552,981

245,880

Clarus

Corp

2,977,607

132,890

\*

Crocs,

Inc

9,401,967

63,630

Ethan

Allen

Interiors,

Inc

1,628,292

120,120

\*

M/I

Homes,

Inc

4,983,779

174,992

\*

Skyline

Champion

Corp

10,186,284

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

125,810

Steven

Madden

Ltd

$

3,757,945

384,570

\*

Taylor

Morrison

Home

Corp

10,129,574

TOTAL

CONSUMER

DURABLES

&

APPAREL

51,618,429

CONSUMER

SERVICES

-

.4

%

12,210

\*

Biglari

Holdings,

Inc

(B

Shares)

1,684,369

136,460

Bloomin'

Brands,

Inc

3,276,405

63,820

Bluegreen

Vacations

Holding

Corp

1,104,724

77,900

Carriage

Services,

Inc

1,901,539

278,260

\*

Coursera,

Inc

3,586,771

212,670

\*

Dave

&

Buster's

Entertainment,

Inc

8,474,899

178,400

\*

Denny's

Corp

2,021,272

91,760

\*

Duolingo,

Inc

7,509,638

419,070

\*

Everi

Holdings,

Inc

7,953,949

6,310

Graham

Holdings

Co

3,936,620

258,000

\*

Hilton

Grand

Vacations,

Inc

10,123,920

427,920

e

International

Game

Technology

plc

8,579,796

199,050

\*,e

Portillo's,

Inc

4,267,632

286,700

\*

PowerSchool

Holdings,

Inc

5,734,000

261,510

Ruth's

Hospitality

Group

Inc

5,434,178

167,450

Texas

Roadhouse,

Inc

(Class

A)

16,569,178

TOTAL

CONSUMER

SERVICES

92,158,890

DIVERSIFIED

FINANCIALS

-

.2

%

143,240

A-Mark

Precious

Metals,

Inc

4,355,928

174,360

Artisan

Partners

Asset

Management,

Inc

4,971,004

2,000,260

BGC

Partners,

Inc

(Class

A)

7,921,029

289,250

Broadmark

Realty

Capital,

Inc

1,683,435

97,560

Cohen

&

Steers,

Inc

5,869,210

271,490

e

Cowen

Group,

Inc

10,484,944

230,513

\*

Enova

International,

Inc

8,641,932

190,970

\*

Green

Dot

Corp

3,634,159

556,540

\*

LendingClub

Corp

5,921,586

486,470

Navient

Corp

7,365,156

258,080

\*

Open

Lending

Corp

1,850,434

69,020

Piper

Jaffray

Cos

8,832,489

188,310

Sculptor

Capital

Management,

Inc

1,997,969

157,040

StepStone

Group,

Inc

4,635,821

121,380

e

Victory

Capital

Holdings,

Inc

3,510,310

34,260

Virtus

Investment

Partners,

Inc

5,875,247

TOTAL

DIVERSIFIED

FINANCIALS

87,550,653

ENERGY

-

.5

%

162,880

\*

Ardmore

Shipping

Corp

2,203,766

718,260

Berry

Petroleum

Co

LLC

6,370,966

282,408

Brigham

Minerals,

Inc

8,754,648

175,480

Chesapeake

Energy

Corp

17,946,340

324,080

CVR

Energy,

Inc

12,658,565

309,150

Delek

US

Holdings,

Inc

9,169,389

70,330

\*

Denbury,

Inc

6,428,865

308,410

\*,e

Diamond

Offshore

Drilling,

Inc

3,037,838

64,320

Helmerich

&

Payne,

Inc

3,184,483

638,300

\*

Liberty

Oilfield

Services,

Inc

10,793,653

184,900

Murphy

Oil

Corp

8,969,499

791,390

\*

NexTier

Oilfield

Solutions,

Inc

7,977,211

2,294,310

Nordic

American

Tankers

Ltd

7,089,418

154,670

Ovintiv,

Inc

7,834,036

437,469

\*

Par

Pacific

Holdings,

Inc

10,009,291

599,496

\*

PBF

Energy,

Inc

26,527,698

31,200

PDC

Energy,

Inc

2,250,768

996,600

\*,e

Permian

Resources

Corp

9,736,782

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

759,830

RPC,

Inc

$

8,456,908

253,630

\*

Talos

Energy,

Inc

5,397,246

101,240

\*

Teekay

Tankers

Ltd

3,188,048

1,569,489

\*,e

Tellurian,

Inc

4,237,620

277,680

\*

US

Silica

Holdings,

Inc

3,995,815

119,490

\*

Valaris

Ltd

7,997,466

285,610

\*

Weatherford

International

Ltd

11,904,225

TOTAL

ENERGY

206,120,544

FOOD

&

STAPLES

RETAILING

-

.1

%

185,968

Andersons,

Inc

6,559,091

101,521

\*,d

BJ's

Wholesale

Club

Holdings,

Inc

7,857,726

206,670

\*

Chefs'

Warehouse

Holdings,

Inc

7,570,322

114,010

\*

Performance

Food

Group

Co

5,933,081

340,560

\*,e

Rite

Aid

Corp

1,777,723

TOTAL

FOOD

&

STAPLES

RETAILING

29,697,943

FOOD,

BEVERAGE

&

TOBACCO

-

.5

%

127,712

Calavo

Growers,

Inc

4,417,558

159,300

Cal-Maine

Foods,

Inc

9,002,043

17,220

Coca-Cola

Consolidated

Inc

8,386,312

190,710

\*

Duckhorn

Portfolio,

Inc

2,788,180

275,736

\*

Hostess

Brands,

Inc

7,301,490

46,160

MGP

Ingredients,

Inc

5,172,228

643,780

Primo

Water

Corp

9,392,750

639,260

\*

SunOpta,

Inc

7,178,890

197,330

\*

TreeHouse

Foods,

Inc

9,913,859

66,940

Universal

Corp

3,387,834

89,480

\*

Vital

Farms,

Inc

1,184,715

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

68,125,859

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.3

%

485,144

\*

1Life

Healthcare,

Inc

8,295,962

206,300

\*

AdaptHealth

Corp

4,703,640

479,390

\*

Allscripts

Healthcare

Solutions,

Inc

7,047,033

307,640

\*

Alphatec

Holdings

Inc

3,150,234

25,633

\*

AMN

Healthcare

Services,

Inc

3,216,941

185,827

\*

Avanos

Medical,

Inc

4,116,068

149,970

\*

Axonics

Modulation

Technologies,

Inc

10,968,806

339,770

\*

Cardiovascular

Systems,

Inc

4,906,279

338,090

\*

Cross

Country

Healthcare,

Inc

12,539,758

512,670

\*

DocGo,

Inc

5,075,433

288,250

\*

Evolent

Health,

Inc

9,169,232

203,340

\*

Health

Catalyst,

Inc

1,793,459

133,674

\*

HealthStream,

Inc

3,301,748

594,430

\*

Hims

&

Hers

Health,

Inc

2,698,712

115,010

\*

Integer

Holding

Corp

7,168,573

204,977

\*

Lantheus

Holdings,

Inc

15,166,248

167,310

\*

Meridian

Bioscience,

Inc

5,348,901

150,470

\*

Merit

Medical

Systems,

Inc

10,347,822

52,920

\*

ModivCare,

Inc

5,145,941

320,490

\*

Neogen

Corp

4,230,468

228,950

\*

NextGen

Healthcare,

Inc

4,588,158

435,160

\*

Option

Care

Health,

Inc

13,167,942

68,160

Patterson

Cos,

Inc

1,770,115

242,230

\*

Phreesia,

Inc

6,617,724

195,660

\*

Privia

Health

Group,

Inc

6,550,697

145,550

\*,e

PROCEPT

BioRobotics

Corp

6,612,336

246,850

\*

Progyny,

Inc

10,977,420

110,750

\*

RadNet,

Inc

2,117,540

57,090

\*

Shockwave

Medical

Inc

16,735,934

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

32,140

\*

Tenet

Healthcare

Corp

$

1,425,730

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

198,954,854

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.8

%

432,760

\*

BellRing

Brands,

Inc

10,481,447

279,980

\*

elf

Beauty,

Inc

12,111,935

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

22,593,382

INSURANCE

-

.3

%

49,580

American

Equity

Investment

Life

Holding

Co

2,135,906

84,960

Employers

Holdings,

Inc

3,705,105

2,343,350

\*

Genworth

Financial,

Inc

(Class

A)

10,943,444

117,570

Selective

Insurance

Group,

Inc

11,531,266

145,460

Stewart

Information

Services

Corp

5,667,122

151,916

Universal

Insurance

Holdings,

Inc

1,525,237

TOTAL

INSURANCE

35,508,080

MATERIALS

-

.1

%

34,240

AdvanSix,

Inc

1,245,651

48,770

American

Vanguard

Corp

1,134,878

181,900

\*

Aspen

Aerogels,

Inc

2,306,492

131,280

Avient

Corp

4,527,847

231,590

Commercial

Metals

Co

10,537,345

628,300

\*

Constellium

SE

6,923,866

24,240

Innospec,

Inc

2,423,758

56,190

\*

Intrepid

Potash,

Inc

2,542,597

293,440

\*

LSB

Industries,

Inc

5,173,347

112,080

Materion

Corp

9,606,377

150,114

Myers

Industries,

Inc

3,045,813

682,010

\*

O-I

Glass,

Inc

11,123,583

68,984

Olympic

Steel,

Inc

1,877,055

56,990

\*

Piedmont

Lithium,

Inc

3,545,918

333,310

\*

Rayonier

Advanced

Materials,

Inc

1,516,561

237,850

Ryerson

Holding

Corp

7,979,868

189,265

Schnitzer

Steel

Industries,

Inc

(Class

A)

5,108,262

299,600

Schweitzer-Mauduit

International,

Inc

7,112,504

130,080

Sensient

Technologies

Corp

9,295,517

37,610

Stepan

Co

3,927,988

111,420

Sylvamo

Corp

5,367,101

470,830

Tronox

Holdings

plc

5,649,960

TOTAL

MATERIALS

111,972,288

MEDIA

&

ENTERTAINMENT

-

.1

%

253,659

\*

Cargurus,

Inc

3,693,275

273,600

\*

Cars.com,

Inc

3,797,568

1,145,850

\*

Clear

Channel

1,638,565

592,660

Entravision

Communications

Corp

(Class

A)

2,773,649

345,720

\*

Integral

Ad

Science

Holding

Corp

2,910,962

184,800

\*

Liberty

Braves

Group

(Class

C)

5,758,368

463,590

\*

Magnite,

Inc

3,379,571

293,670

\*

PubMatic,

Inc

5,109,858

281,960

Sinclair

Broadcast

Group,

Inc

(Class

A)

5,021,708

609,890

TEGNA,

Inc

12,734,503

253,820

\*

WideOpenWest,

Inc

3,479,872

220,950

\*

Yelp,

Inc

8,486,690

TOTAL

MEDIA

&

ENTERTAINMENT

58,784,589

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.9

%

485,200

\*

AbCellera

Biologics,

Inc

5,739,916

1,663,550

\*,e

ADMA

Biologics,

Inc

4,691,211

2,026,661

\*

Agenus,

Inc

5,086,919

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

382,290

\*

Alkermes

plc

$

8,677,983

216,500

\*

Amphastar

Pharmaceuticals,

Inc

6,689,850

200,140

\*

Amylyx

Pharmaceuticals,

Inc

7,138,994

58,582

\*

Arrowhead

Pharmaceuticals

Inc

2,039,239

669,610

\*

BioCryst

Pharmaceuticals,

Inc

8,939,293

785,980

\*,e

Bluebird

Bio,

Inc

4,928,095

259,890

\*

C4

Therapeutics,

Inc

2,500,142

149,892

\*

CareDx,

Inc

2,984,350

714,470

\*

Catalyst

Pharmaceuticals,

Inc

9,909,699

333,350

\*

Chinook

Therapeutics,

Inc

7,250,362

446,931

\*

Codexis,

Inc

2,511,752

222,390

\*

Cogent

Biosciences,

Inc

3,035,623

215,380

\*

Coherus

Biosciences,

Inc

1,873,806

86,810

\*

Crinetics

Pharmaceuticals,

Inc

1,602,513

1,014,330

\*,e

CTI

BioPharma

Corp

4,970,217

469,220

\*

Cytek

Biosciences,

Inc

7,282,294

241,980

\*

Day

One

Biopharmaceuticals,

Inc

5,115,457

261,170

\*

Deciphera

Pharmaceuticals,

Inc

4,236,177

379,100

\*,e

Dynavax

Technologies

Corp

4,340,695

286,350

\*,e

Editas

Medicine,

Inc

3,593,693

391,710

\*,e

Esperion

Thereapeutics,

Inc

3,184,602

480,080

\*

Evolus,

Inc

4,109,485

258,390

\*,e

Gossamer

Bio,

Inc

2,868,129

136,203

\*

Harmony

Biosciences

Holdings,

Inc

7,082,556

148,130

\*

Ideaya

Biosciences,

Inc

2,501,916

44,790

\*

Intellia

Therapeutics,

Inc

2,364,016

272,320

\*,e

Intercept

Pharmaceuticals,

Inc

3,777,078

159,334

\*

Intra-Cellular

Therapies,

Inc

7,276,784

707,760

\*

Iovance

Biotherapeutics,

Inc

6,610,478

142,372

\*

Ironwood

Pharmaceuticals,

Inc

1,557,550

573,249

\*

IVERIC

bio,

Inc

13,712,116

707,600

\*

Karyopharm

Therapeutics,

Inc

3,368,176

650,510

\*

Kezar

Life

Sciences,

Inc

4,888,583

307,470

\*

Kura

Oncology,

Inc

4,771,934

831,170

\*

Mersana

Therapeutics,

Inc

6,532,996

156,860

\*

Morphic

Holding,

Inc

4,393,649

321,130

\*

NGM

Biopharmaceuticals

Inc

1,714,834

407,280

\*,e

Nkarta,

Inc

5,135,801

359,090

\*

Nurix

Therapeutics,

Inc

4,571,216

106,564

Phibro

Animal

Health

Corp

1,565,425

119,760

\*

Prometheus

Biosciences,

Inc

6,289,795

154,180

\*

Protagonist

Therapeutics,

Inc

1,248,858

181,280

\*

RAPT

Therapeutics,

Inc

3,955,530

120,900

\*,e

Recursion

Pharmaceuticals,

Inc

1,275,495

194,110

\*

Revance

Therapeutics,

Inc

4,330,594

921,920

\*

Rigel

Pharmaceuticals,

Inc

671,711

209,730

\*

Rocket

Pharmaceuticals,

Inc

3,913,562

1,117,656

\*

Sangamo

Therapeutics

Inc

4,906,510

91,866

\*

Travere

Therapeutics,

Inc

1,991,655

398,040

\*

Vanda

Pharmaceuticals,

Inc

4,167,479

162,150

\*

Vir

Biotechnology,

Inc

3,564,057

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

243,440,850

REAL

ESTATE

-

.1

%

131,700

Agree

Realty

Corp

9,047,790

226,810

Alexander

&

Baldwin,

Inc

4,418,259

654,630

Apple

Hospitality

REIT,

Inc

11,207,266

578,630

\*

Ashford

Hospitality

Trust,

Inc

4,698,476

529,700

\*

Cushman

&

Wakefield

plc

6,118,035

867,490

DiamondRock

Hospitality

Co

8,102,357

65,400

EastGroup

Properties,

Inc

10,247,526

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE—continued

448,320

Essential

Properties

Realty

Trust,

Inc

$

9,647,846

514,110

Macerich

Co

5,722,044

75,300

Marcus

&

Millichap,

Inc

2,774,052

229,680

National

Storage

Affiliates

Trust

9,798,149

208,870

Office

Properties

Income

Trust

3,195,711

165,510

Outfront

Media,

Inc

2,987,455

866,920

Paramount

Group,

Inc

5,608,972

341,910

Phillips

Edison

&

Co,

Inc

10,305,167

297,060

Piedmont

Office

Realty

Trust,

Inc

3,104,277

222,860

PotlatchDeltic

Corp

9,915,041

513,920

Retail

Opportunities

Investment

Corp

7,441,562

618,400

RLJ

Lodging

Trust

7,525,928

698,630

Service

Properties

Trust

5,665,889

108,440

STAG

Industrial,

Inc

3,425,620

569,520

Summit

Hotel

Properties,

Inc

4,920,653

511,190

Tanger

Factory

Outlet

Centers,

Inc

9,206,532

417,430

Whitestone

REIT

3,928,016

428,570

Xenia

Hotels

&

Resorts,

Inc

7,319,976

TOTAL

REAL

ESTATE

166,332,599

RETAILING

-

.4

%

150,880

e

Academy

Sports

&

Outdoors,

Inc

6,643,246

97,460

\*

Boot

Barn

Holdings,

Inc

5,535,728

667,190

\*

CarParts.com,

Inc

3,122,449

156,990

Macy's,

Inc

3,273,242

149,320

\*

MarineMax,

Inc

4,824,529

172,250

Monro

Muffler,

Inc

8,224,938

91,210

e

Signet

Jewelers

Ltd

5,950,540

TOTAL

RETAILING

37,574,672

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.0

%

130,340

\*,e

Credo

Technology

Group

Holding

Ltd

1,790,871

151,547

\*

Lattice

Semiconductor

Corp

7,351,545

137,380

\*

MACOM

Technology

Solutions

Holdings,

Inc

7,950,181

221,710

\*

MaxLinear,

Inc

6,846,405

444,400

\*

Photronics,

Inc

7,208,168

220,790

\*

Rambus,

Inc

6,659,026

190,320

\*

Semtech

Corp

5,269,961

313,260

\*,e

SunPower

Corp

5,792,177

300,890

\*

Veeco

Instruments,

Inc

5,485,225

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

54,353,559

SOFTWARE

&

SERVICES

-

.2

%

374,700

\*

ACI

Worldwide,

Inc

9,116,451

220,690

\*

Alkami

Technology,

Inc

3,497,936

808,130

\*

AvidXchange

Holdings,

Inc

7,353,983

444,770

\*

Box,

Inc

12,920,569

212,340

\*

Brightcove,

Inc

1,422,678

162,320

\*

ChannelAdvisor

Corp

3,739,853

303,910

\*,e

Clear

Secure,

Inc

8,211,648

800,570

\*

Conduent,

Inc

3,298,348

128,150

\*

Domo,

Inc

2,264,411

301,480

\*

EngageSmart,

Inc

5,921,067

95,900

\*

ExlService

Holdings,

Inc

17,439,415

306,660

\*

Flywire

Corp

6,731,187

421,920

\*

Grid

Dynamics

Holdings,

Inc

5,742,331

256,420

\*

International

Money

Express

Inc

6,931,033

385,500

\*

KnowBe4,

Inc

9,475,590

146,880

\*

Pagerduty,

Inc

3,663,187

1,088,310

\*

Payoneer

Global,

Inc

8,434,403

162,275

Progress

Software

Corp

8,280,893

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

100,570

\*

Qualys,

Inc

$

14,337,259

52,404

\*

Rapid7,

Inc

2,372,329

551,970

\*

Repay

Holdings

Corp

3,361,497

164,000

\*

Sprout

Social,

Inc

9,894,120

82,540

\*

SPS

Commerce,

Inc

10,442,961

718,770

\*

Sumo

Logic,

Inc

5,541,717

266,919

\*

Tenable

Holdings,

Inc

10,847,588

363,950

\*

Varonis

Systems,

Inc

9,742,942

776,730

\*,e

Zeta

Global

Holdings

Corp

6,477,928

TOTAL

SOFTWARE

&

SERVICES

197,463,324

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.8

%

175,070

Belden

CDT,

Inc

12,190,124

108,840

\*

Coherent

Corp

3,658,112

849,840

\*

CommScope

Holding

Co,

Inc

11,251,882

636,250

\*

Extreme

Networks,

Inc

11,414,325

97,380

\*

Fabrinet

11,140,272

302,040

\*

Knowles

Corp

4,153,050

48,523

\*

OSI

Systems,

Inc

3,987,620

241,866

\*

Ribbon

Communications,

Inc

640,945

370,461

\*

Sanmina

Corp

20,764,339

53,782

\*

Scansource,

Inc

1,666,166

156,310

\*

Super

Micro

Computer,

Inc

10,877,613

504,750

Vishay

Intertechnology,

Inc

10,554,323

44,559

\*

Vishay

Precision

Group,

Inc

1,503,866

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

103,802,637

TELECOMMUNICATION

SERVICES

-

.8

%

141,650

\*

Bandwidth

Inc

1,681,386

274,200

\*

EchoStar

Corp

(Class

A)

5,174,154

2,610,230

\*,e

Globalstar,

Inc

5,664,199

343,870

\*

Gogo,

Inc

4,889,831

436,020

\*

Radius

Global

Infrastructure,

Inc

4,076,787

TOTAL

TELECOMMUNICATION

SERVICES

21,486,357

TRANSPORTATION

-

.1

%

135,882

ArcBest

Corp

10,793,107

107,986

Forward

Air

Corp

11,432,478

164,079

\*

Hub

Group,

Inc

(Class

A)

12,732,530

36,100

Matson,

Inc

2,656,238

591,130

e

Safe

Bulkers,

Inc

1,495,559

53,510

\*

Saia,

Inc

10,640,999

301,122

Spirit

Airlines,

Inc

6,624,684

TOTAL

TRANSPORTATION

56,375,595

UTILITIES

-

.8

%

240,000

Avista

Corp

9,847,200

176,038

Black

Hills

Corp

11,507,604

268,699

Brookfield

Infrastructure

Corp

11,586,301

143,114

Clearway

Energy,

Inc

(Class

A)

4,626,876

274,730

Clearway

Energy,

Inc

(Class

C)

9,544,120

159,130

Northwest

Natural

Holding

Co

7,652,562

179,236

NorthWestern

Corp

9,469,038

146,340

Otter

Tail

Corp

9,866,243

223,921

Portland

General

Electric

Co

10,063,010

403,487

South

Jersey

Industries,

Inc

13,988,894

83,282

\*,e

Sunnova

Energy

International,

Inc

1,544,048

Portfolio

of

investments

Quant

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

concluded

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

68,740

Unitil

Corp

$

3,623,285

TOTAL

UTILITIES

103,319,181

TOTAL

COMMON

STOCKS

2,693,697,567

(Cost

$2,416,135,542)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

4.6%

GOVERNMENT

AGENCY

DEBT

-

.2

%

$

5,000,000

FHLB

.000

%

11/04/22

4,998,454

TOTAL

GOVERNMENT

AGENCY

DEBT

4,998,454

REPURCHASE

AGREEMENT

-

.6

%

44,195,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

44,195,000

TOTAL

REPURCHASE

AGREEMENT

44,195,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.8

%

77,524,561

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

77,524,561

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

77,524,561

TOTAL

SHORT-TERM

INVESTMENTS

126,718,015

(Cost

$126,718,311)

TOTAL

INVESTMENTS

-

103.2%

2,820,415,582

(Cost

$2,542,853,853)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(3.2)%

(87,461,589)

NET

ASSETS

-

100.0%

$

2,732,953,993

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

d

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$88,030,233.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$44,195,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.375%

and

maturity

date

7/15/25,

valued

at

$45,078,925.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

Russell

2000

E

Mini

Index

12/16/22

$

32,861,957

$

34,280,500

$

1,418,543

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.9%

AUTOMOBILES

&

COMPONENTS

-

.6

%

103,680

\*

Goodyear

Tire

&

Rubber

Co

$

1,316,736

84,005

\*

Stoneridge,

Inc

1,753,184

57,120

Thor

Industries,

Inc

4,653,567

TOTAL

AUTOMOBILES

&

COMPONENTS

7,723,487

BANKS

-

.4

%

39,570

\*

Axos

Financial,

Inc

1,541,647

82,399

Bank

of

NT

Butterfield

&

Son

Ltd

2,846,062

13,980

Banner

Corp

1,045,005

88,893

Berkshire

Hills

Bancorp,

Inc

2,600,120

184,334

Cadence

BanCorp

5,096,835

235,610

Capitol

Federal

Financial

1,927,290

89,701

Cathay

General

Bancorp

4,090,366

99,215

Central

Pacific

Financial

Corp

2,035,892

122,050

Columbia

Banking

System,

Inc

4,085,014

62,380

Community

Bank

System,

Inc

3,894,383

62,713

ConnectOne

Bancorp,

Inc

1,570,961

27,940

Cullen/Frost

Bankers,

Inc

4,332,097

34,180

Eagle

Bancorp,

Inc

1,547,670

34,230

Enterprise

Financial

Services

Corp

1,830,278

95,848

Essent

Group

Ltd

3,793,664

264,002

First

Bancorp

4,168,592

114,680

First

Financial

Bankshares,

Inc

4,414,033

81,850

First

Hawaiian,

Inc

2,093,723

119,502

First

Interstate

Bancsystem,

Inc

5,450,486

213,710

FNB

Corp

3,088,110

57,740

Glacier

Bancorp,

Inc

3,307,347

75,020

Hancock

Whitney

Corp

4,191,367

19,120

HomeStreet,

Inc

496,355

56,060

International

Bancshares

Corp

2,780,576

101,818

National

Bank

Holdings

Corp

4,461,665

39,640

NBT

Bancorp,

Inc

1,878,540

82,939

\*

NMI

Holdings,

Inc

1,818,852

120,530

OFG

Bancorp

3,360,376

73,122

Prosperity

Bancshares,

Inc

5,233,342

90,620

Renasant

Corp

3,658,329

21,480

Signature

Bank

3,405,224

38,280

South

State

Corp

3,461,660

61,834

Washington

Federal,

Inc

2,392,976

32,520

Westamerica

Bancorporation

2,039,980

TOTAL

BANKS

103,938,817

CAPITAL

GOODS

-

.9

%

41,542

Advanced

Drainage

Systems,

Inc

4,813,887

86,686

Aecom

Technology

Corp

6,525,722

28,310

\*

Aerojet

Rocketdyne

Holdings,

Inc

1,371,620

106,470

Allison

Transmission

Holdings,

Inc

4,498,357

168,280

\*

API

Group

Corp

2,774,937

43,930

Applied

Industrial

Technologies,

Inc

5,464,013

90,798

\*

Atkore

International

Group,

Inc

8,653,049

30,129

AZZ,

Inc

1,211,186

72,647

Boise

Cascade

Co

4,850,640

135,526

\*

Builders

FirstSource,

Inc

8,356,533

14,520

Carlisle

Cos,

Inc

3,467,376

253,020

\*,e

ChargePoint

Holdings,

Inc

3,537,220

38,632

Comfort

Systems

USA,

Inc

4,762,553

75,410

Donaldson

Co,

Inc

4,332,305

37,360

\*

Dycom

Industries,

Inc

4,415,205

43,981

EMCOR

Group,

Inc

6,205,719

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

53,640

\*

Energy

Recovery,

Inc

$

1,380,157

17,485

EnPro

Industries,

Inc

1,862,153

72,575

Federal

Signal

Corp

3,385,624

24,070

\*

Fluor

Corp

728,358

91,850

Fortune

Brands

Home

&

Security,

Inc

5,540,392

62,437

\*

Gibraltar

Industries,

Inc

3,189,282

120,160

Howmet

Aerospace,

Inc

4,271,688

11,110

Huntington

Ingalls

2,856,048

73,135

ITT,

Inc

5,586,783

83,560

\*

Janus

International

Group,

Inc

804,683

110,880

\*

Kratos

Defense

&

Security

Solutions,

Inc

1,228,550

8,760

Lincoln

Electric

Holdings,

Inc

1,243,920

286,883

\*

MRC

Global,

Inc

2,877,436

40,280

Mueller

Industries,

Inc

2,523,139

20,970

Nordson

Corp

4,718,250

257,260

\*

NOW,

Inc

3,274,920

94,950

nVent

Electric

plc

3,465,675

116,410

Pentair

plc

4,999,809

14,079

Quanta

Services,

Inc

1,999,781

118,100

Shyft

Group,

Inc

2,713,938

6,500

Snap-On,

Inc

1,443,325

41,970

\*

SPX

Technologies,

Inc

2,763,305

160,460

\*

Stem,

Inc

2,182,256

150,880

\*

Sunrun,

Inc

3,396,309

103,370

Textron,

Inc

7,074,643

63,960

\*

Titan

Machinery,

Inc

2,198,945

103,191

UFP

Industries,

Inc

7,350,295

165,790

\*

Univar

Solutions

Inc

4,224,329

46,462

\*

Vectrus,

Inc

1,904,477

168,550

Wabash

National

Corp

3,649,108

14,800

\*

WESCO

International,

Inc

2,038,996

TOTAL

CAPITAL

GOODS

172,116,896

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.1

%

77,779

Booz

Allen

Hamilton

Holding

Co

8,466,244

26,260

Brink's

Co

1,565,884

31,640

\*

Clean

Harbors,

Inc

3,874,634

178,280

\*

First

Advantage

Corp

2,504,834

41,390

Insperity,

Inc

4,884,848

56,300

KBR,

Inc

2,802,051

89,220

Kforce,

Inc

5,644,949

34,870

Tetra

Tech,

Inc

4,926,434

46,660

\*

TriNet

Group,

Inc

3,031,967

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

37,701,845

CONSUMER

DURABLES

&

APPAREL

-

.7

%

13,020

\*

Cavco

Industries,

Inc

2,951,243

86,660

\*

G-III

Apparel

Group

Ltd

1,689,870

70,618

\*

Skyline

Champion

Corp

4,110,674

95,930

Smith

&

Wesson

Brands,

Inc

1,083,050

106,943

Steven

Madden

Ltd

3,194,387

129,560

Tapestry,

Inc

4,104,461

288,620

\*

Under

Armour,

Inc

(Class

A)

2,150,219

208,260

\*

Under

Armour,

Inc

(Class

C)

1,366,186

TOTAL

CONSUMER

DURABLES

&

APPAREL

20,650,090

CONSUMER

SERVICES

-

.8

%

157,730

ARAMARK

Holdings

Corp

5,757,145

88,810

Boyd

Gaming

Corp

5,129,666

22,730

Choice

Hotels

International,

Inc

2,951,263

260,080

\*

Denny's

Corp

2,946,706

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

38,820

\*

Duolingo,

Inc

$

3,177,029

86,240

\*

Everi

Holdings,

Inc

1,636,835

117,920

H&R

Block,

Inc

4,852,408

178,280

e

International

Game

Technology

plc

3,574,514

51,182

Red

Rock

Resorts,

Inc

2,131,730

79,070

\*

Stride,

Inc

2,649,636

47,300

Texas

Roadhouse,

Inc

(Class

A)

4,680,335

240,800

\*

Vacasa,

Inc

878,920

17,030

Vail

Resorts,

Inc

3,731,784

106,210

Wendy's

2,207,044

TOTAL

CONSUMER

SERVICES

46,305,015

DIVERSIFIED

FINANCIALS

-

.0

%

89,510

A-Mark

Precious

Metals,

Inc

2,721,999

158,753

Brightsphere

Investment

Group,

Inc

2,987,732

150,502

\*

Cannae

Holdings,

Inc

3,485,626

139,590

Carlyle

Group,

Inc

3,947,605

62,250

CBOE

Global

Markets,

Inc

7,750,125

30,398

Cohen

&

Steers,

Inc

1,828,744

22,100

Evercore

Inc

2,322,710

15,550

Factset

Research

Systems,

Inc

6,616,370

33,280

Houlihan

Lokey,

Inc

2,972,570

15,000

e

iShares

Russell

2000

Index

Fund

2,749,950

262,430

\*

LendingClub

Corp

2,792,255

27,463

LPL

Financial

Holdings,

Inc

7,020,916

20,060

MarketAxess

Holdings,

Inc

4,895,442

509,380

\*

SoFi

Technologies,

Inc

2,771,027

48,220

StepStone

Group,

Inc

1,423,454

10,000

e

Vanguard

Small-Cap

ETF

1,878,400

155,830

Virtu

Financial,

Inc

3,487,475

TOTAL

DIVERSIFIED

FINANCIALS

61,652,400

ENERGY

-

.6

%

225,090

\*

Alto

Ingredients,

Inc

929,622

196,830

APA

Corp

8,947,892

111,800

Brigham

Minerals,

Inc

3,465,800

17,900

Chesapeake

Energy

Corp

1,830,633

75,410

\*

Comstock

Resources

Inc

1,416,200

63,470

CVR

Energy,

Inc

2,479,138

119,370

Delek

US

Holdings,

Inc

3,540,514

37,490

\*

Denbury,

Inc

3,426,961

25,410

Devon

Energy

Corp

1,965,463

107,530

\*

Diamond

Offshore

Drilling,

Inc

1,059,170

37,510

\*

Golar

LNG

Ltd

1,043,528

469,740

\*

Kosmos

Energy

Ltd

3,048,613

258,060

\*

Liberty

Oilfield

Services,

Inc

4,363,795

22,650

\*

Nabors

Industries

Ltd

3,941,779

459,469

\*

NexTier

Oilfield

Solutions,

Inc

4,631,448

188,380

\*

Par

Pacific

Holdings,

Inc

4,310,134

112,960

Patterson-UTI

Energy,

Inc

1,993,744

222,880

\*

PBF

Energy,

Inc

9,862,440

80,250

Range

Resources

Corp

2,285,520

153,840

SM

Energy

Co

6,919,723

315,620

\*

Southwestern

Energy

Co

2,187,247

152,110

\*

Talos

Energy,

Inc

3,236,901

96,860

\*

Weatherford

International

Ltd

4,037,125

TOTAL

ENERGY

80,923,390

FOOD

&

STAPLES

RETAILING

-

.1

%

69,990

Albertsons

Cos,

Inc

1,435,495

41,130

\*

BJ's

Wholesale

Club

Holdings,

Inc

3,183,462

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD

&

STAPLES

RETAILING—continued

17,880

Casey's

General

Stores,

Inc

$

4,160,855

105,320

\*

Chefs'

Warehouse

Holdings,

Inc

3,857,872

109,660

\*

Performance

Food

Group

Co

5,706,706

106,374

\*

United

Natural

Foods,

Inc

4,511,321

123,920

\*

US

Foods

Holding

Corp

3,687,859

TOTAL

FOOD

&

STAPLES

RETAILING

26,543,570

FOOD,

BEVERAGE

&

TOBACCO

-

.9

%

20,103

\*

Bunge

Ltd

1,984,166

45,660

Cal-Maine

Foods,

Inc

2,580,246

175,943

\*

Hostess

Brands,

Inc

4,658,971

80,530

Lamb

Weston

Holdings,

Inc

6,943,297

74,630

\*

Pilgrim's

Pride

Corp

1,720,221

259,700

Primo

Water

Corp

3,789,023

173,390

Vector

Group

Ltd

1,841,402

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

23,517,326

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.5

%

228,020

\*

Allscripts

Healthcare

Solutions,

Inc

3,351,894

56,990

\*

Axonics

Modulation

Technologies,

Inc

4,168,249

69,940

\*

Cano

Health,

Inc

250,385

84,740

\*

Cardiovascular

Systems,

Inc

1,223,646

161,210

\*

Cross

Country

Healthcare,

Inc

5,979,279

21,160

\*

DaVita,

Inc

1,544,892

163,030

\*

Evolent

Health,

Inc

5,185,984

21,000

\*

Glaukos

Corp

1,177,470

243,290

\*

Hims

&

Hers

Health,

Inc

1,104,537

45,630

\*

Integra

LifeSciences

Holdings

Corp

2,292,907

7,600

\*

iRhythm

Technologies,

Inc

968,924

42,100

\*

Lantheus

Holdings,

Inc

3,114,979

66,820

\*

Merit

Medical

Systems,

Inc

4,595,211

155,440

\*,e

Multiplan

Corp

446,113

75,240

\*

Oak

Street

Health,

Inc

1,522,105

148,730

\*

Option

Care

Health,

Inc

4,500,570

131,807

Patterson

Cos,

Inc

3,423,028

119,790

\*

Phreesia,

Inc

3,272,663

70,620

Premier,

Inc

2,463,226

90,240

\*

Progyny,

Inc

4,012,973

19,510

\*

Shockwave

Medical

Inc

5,719,356

166,280

\*

Signify

Health,

Inc

4,860,364

38,550

\*

Tandem

Diabetes

Care,

Inc

2,164,582

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

67,343,337

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.0

%

146,040

\*

BellRing

Brands,

Inc

3,537,089

127,304

\*

elf

Beauty,

Inc

5,507,171

24,234

Medifast,

Inc

2,835,135

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

11,879,395

INSURANCE

-

.0

%

35,291

American

Financial

Group,

Inc

5,121,077

76,160

Axis

Capital

Holdings

Ltd

4,163,667

121,600

Brown

&

Brown,

Inc

7,148,864

120,820

Conseco,

Inc

2,665,289

99,730

Lincoln

National

Corp

5,372,455

191,530

Old

Republic

International

Corp

4,445,411

23,140

\*

Palomar

Holdings,

Inc

2,058,535

38,200

W.R.

Berkley

Corp

2,841,316

1,979

White

Mountains

Insurance

Group

Ltd

2,802,561

TOTAL

INSURANCE

36,619,175

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS

-

.0

%

29,832

Avery

Dennison

Corp

$

5,058,016

132,070

Chemours

Co

3,781,164

226,300

\*

Coeur

Mining,

Inc

855,414

297,480

\*

Constellium

SE

3,278,230

33,970

Eagle

Materials,

Inc

4,154,871

202,695

Element

Solutions,

Inc

3,486,354

32,320

\*

Ingevity

Corp

2,174,166

13,839

Innospec,

Inc

1,383,762

115,050

\*

Livent

Corp

3,632,128

217,290

\*

LSB

Industries,

Inc

3,830,823

6,867

Materion

Corp

588,571

26,410

Minerals

Technologies,

Inc

1,452,814

93,470

\*

MP

Materials

Corp

2,807,839

40,524

Reliance

Steel

&

Aluminum

Co

8,164,775

29,920

Royal

Gold,

Inc

2,841,203

109,960

Sealed

Air

Corp

5,236,295

76,907

Silgan

Holdings,

Inc

3,642,316

42,930

Sonoco

Products

Co

2,665,094

137,600

SSR

Mining,

Inc

1,898,880

46,890

Steel

Dynamics,

Inc

4,410,004

103,744

\*

Summit

Materials,

Inc

2,733,654

151,550

Tronox

Holdings

plc

1,818,600

159,750

Valvoline,

Inc

4,690,260

TOTAL

MATERIALS

74,585,233

MEDIA

&

ENTERTAINMENT

-

.6

%

935,620

\*

Clear

Channel

1,337,937

98,970

\*

Eventbrite

Inc

650,233

84,084

\*

Liberty

Media

Group

(Class

C)

4,854,169

126,540

\*

Lions

Gate

Entertainment

Corp

(Class

A)

1,019,913

23,220

Madison

Square

Garden

Co

3,636,484

139,755

\*

Magnite,

Inc

1,018,814

142,110

Sinclair

Broadcast

Group,

Inc

(Class

A)

2,530,979

129,660

TEGNA,

Inc

2,707,301

48,230

\*

Yelp,

Inc

1,852,514

TOTAL

MEDIA

&

ENTERTAINMENT

19,608,344

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.7

%

157,520

\*

Acadia

Pharmaceuticals,

Inc

2,525,045

124,632

\*

Alkermes

plc

2,829,146

51,760

\*

AnaptysBio,

Inc

1,493,276

56,610

\*

Arcutis

Biotherapeutics,

Inc

1,000,865

40,730

\*

Avantor,

Inc

821,524

66,040

\*,e

Bioxcel

Therapeutics

Inc

831,444

2,762

\*

Charles

River

Laboratories

International,

Inc

586,234

157,070

\*

Chinook

Therapeutics,

Inc

3,416,272

248,910

\*

Codexis,

Inc

1,398,874

159,010

\*

Cytek

Biosciences,

Inc

2,467,835

33,140

\*

Day

One

Biopharmaceuticals,

Inc

700,580

168,380

\*

Deciphera

Pharmaceuticals,

Inc

2,731,124

132,510

\*

Evolus,

Inc

1,134,286

169,930

\*

FibroGen,

Inc

2,766,460

91,150

\*

Halozyme

Therapeutics,

Inc

4,357,881

131,600

\*

Innoviva,

Inc

1,784,496

162,990

\*

Insmed,

Inc

2,822,987

56,420

\*

Intellia

Therapeutics,

Inc

2,977,848

276,490

\*

Ironwood

Pharmaceuticals,

Inc

3,024,801

385,990

\*

Karyopharm

Therapeutics,

Inc

1,837,312

128,440

\*

Kezar

Life

Sciences,

Inc

965,227

104,240

\*

Kura

Oncology,

Inc

1,617,805

47,080

\*

Morphic

Holding,

Inc

1,318,711

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

80,470

\*

Nkarta,

Inc

$

1,014,727

108,500

Perrigo

Co

plc

4,370,380

47,448

Phibro

Animal

Health

Corp

697,011

32,780

\*

Prestige

Consumer

Healthcare,

Inc.

1,785,854

34,750

\*

Prothena

Corp

plc

2,135,040

142,200

\*

QIAGEN

NV

6,194,232

31,890

\*

Revance

Therapeutics,

Inc

711,466

66,800

\*

Rocket

Pharmaceuticals,

Inc

1,246,488

545,070

\*

Sangamo

Therapeutics

Inc

2,392,857

50,296

\*

Sarepta

Therapeutics,

Inc

5,734,750

103,140

\*

Supernus

Pharmaceuticals,

Inc

3,534,608

68,550

\*

Syneos

Health,

Inc

3,453,549

13,355

\*

United

Therapeutics

Corp

3,078,728

37,960

\*,e

Verve

Therapeutics,

Inc

1,431,092

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

83,190,815

REAL

ESTATE

-

.7

%

169,910

Acadia

Realty

Trust

2,373,643

109,021

Alexander

&

Baldwin,

Inc

2,123,729

82,650

American

Homes

Rent

2,639,841

115,140

Apartment

Income

REIT

Corp

4,424,830

96,500

Brixmor

Property

Group,

Inc

2,056,415

44,840

Camden

Property

Trust

5,181,262

136,220

CubeSmart

5,703,531

103,090

Douglas

Elliman,

Inc

476,276

60,280

Douglas

Emmett,

Inc

1,060,325

79,390

EPR

Properties

3,064,454

91,736

Equity

Lifestyle

Properties,

Inc

5,867,435

188,410

Essential

Properties

Realty

Trust,

Inc

4,054,583

75,639

First

Industrial

Realty

Trust,

Inc

3,602,686

94,995

Gaming

and

Leisure

Properties,

Inc

4,761,149

366,570

Host

Hotels

and

Resorts,

Inc

6,920,842

38,379

Life

Storage,

Inc

4,245,101

50,090

Marcus

&

Millichap,

Inc

1,845,316

79,470

National

Retail

Properties,

Inc

3,340,124

60,613

NexPoint

Residential

Trust,

Inc

2,763,953

196,630

Outfront

Media,

Inc

3,549,171

461,300

Paramount

Group,

Inc

2,984,611

101,280

Pebblebrook

Hotel

Trust

1,624,531

142,410

Piedmont

Office

Realty

Trust,

Inc

1,488,184

81,850

Regency

Centers

Corp

4,952,744

124,400

RLJ

Lodging

Trust

1,513,948

17,748

RMR

Group,

Inc

485,763

373,080

Service

Properties

Trust

3,025,679

99,470

Spirit

Realty

Capital,

Inc

3,862,420

124,830

STORE

Capital

Corp

3,969,594

38,630

VICI

Properties,

Inc

1,236,933

49,920

Whitestone

REIT

469,747

TOTAL

REAL

ESTATE

95,668,820

RETAILING

-

.7

%

48,811

\*

Autonation,

Inc

5,189,097

391,720

\*

CarParts.com,

Inc

1,833,250

482,850

\*

Chico's

FAS,

Inc

2,839,158

243,700

Designer

Brands,

Inc

3,711,551

4,710

\*

Five

Below,

Inc

689,308

16,150

\*

Genesco,

Inc

759,696

62,290

Kohl's

Corp

1,865,585

17,480

Murphy

USA,

Inc

5,497,635

87,230

\*

ODP

Corp

3,451,691

36,270

\*

Ollie's

Bargain

Outlet

Holdings,

Inc

2,031,120

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

47,050

Williams-Sonoma,

Inc

$

5,826,202

TOTAL

RETAILING

33,694,293

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.6

%

135,940

\*

Allegro

MicroSystems,

Inc

3,454,235

40,130

\*

Ambarella,

Inc

2,196,315

89,454

Amkor

Technology,

Inc

1,859,749

13,965

\*

Enphase

Energy,

Inc

4,287,255

56,257

\*

Formfactor,

Inc

1,136,954

44,235

\*

Impinj,

Inc

5,070,658

112,256

\*

Lattice

Semiconductor

Corp

5,445,539

21,500

\*

ON

Semiconductor

Corp

1,320,745

223,790

\*

Photronics,

Inc

3,629,874

70,860

\*

Semtech

Corp

1,962,113

71,530

\*

Ultra

Clean

Holdings

2,225,298

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

32,588,735

SOFTWARE

&

SERVICES

-

.2

%

70,490

\*

ACI

Worldwide,

Inc

1,715,022

67,550

\*

Alteryx,

Inc

3,291,711

71,043

Amdocs

Ltd

6,131,721

57,780

\*,e

Asana,

Inc

1,190,268

396,750

\*

AvidXchange

Holdings,

Inc

3,610,425

24,710

\*

Bill.Com

Holdings,

Inc

3,295,326

75,828

\*

Black

Knight,

Inc

4,585,319

22,721

Concentrix

Corp

2,777,188

79,380

\*

Domo,

Inc

1,402,645

142,780

\*

Dropbox,

Inc

3,105,465

93,300

\*

Duck

Creek

Technologies,

Inc

1,114,002

20,233

\*

Dynatrace,

Inc

713,011

69,975

\*

Elastic

NV

4,474,901

40,471

EVERTEC,

Inc

1,449,266

11,640

\*

ExlService

Holdings,

Inc

2,116,734

150,010

\*

Flywire

Corp

3,292,719

106,250

Genpact

Ltd

5,153,125

8,910

\*

Globant

S.A.

1,681,139

240,470

\*

Grid

Dynamics

Holdings,

Inc

3,272,797

22,680

Jack

Henry

&

Associates,

Inc

4,514,681

43,980

\*

Manhattan

Associates,

Inc

5,351,047

82,200

NortonLifelock,

Inc

1,851,966

186,305

\*

Nutanix,

Inc

5,104,757

157,200

\*

Paya

Holdings,

Inc

1,263,888

24,239

\*

Paylocity

Holding

Corp

5,618,358

154,700

\*

Payoneer

Global,

Inc

1,198,925

21,980

\*

Qualys,

Inc

3,133,469

50,180

\*

RingCentral,

Inc

1,782,394

155,170

\*

SentinelOne,

Inc

3,544,083

49,393

\*

SPS

Commerce,

Inc

6,249,202

44,866

\*

SVMK,

Inc

348,160

150,150

\*

Toast,

Inc

3,316,813

130,650

\*

Varonis

Systems,

Inc

3,497,500

191,580

Western

Union

Co

2,588,246

57,832

\*

Zendesk,

Inc

4,435,136

443,260

\*,e

Zeta

Global

Holdings

Corp

3,696,788

221,830

\*

Zuora

Inc

1,705,873

TOTAL

SOFTWARE

&

SERVICES

113,574,070

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.8

%

197,060

\*

Arlo

Technologies,

Inc

1,014,859

122,115

Avnet,

Inc

4,907,802

33,560

\*

Calix,

Inc

2,471,359

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

55,010

\*

Extreme

Networks,

Inc

$

986,879

38,350

\*

Fabrinet

4,387,240

212,170

\*

Harmonic,

Inc

3,278,027

95,736

Jabil

Inc

6,151,038

101,701

National

Instruments

Corp

3,882,944

27,722

\*

Sanmina

Corp

1,553,818

77,560

\*

Super

Micro

Computer,

Inc

5,397,400

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

34,031,366

TELECOMMUNICATION

SERVICES

-

.4

%

1,147,730

\*,e

Globalstar,

Inc

2,490,574

149,304

\*

Liberty

Latin

America

Ltd

(Class

C)

1,163,078

96,870

\*

Radius

Global

Infrastructure,

Inc

905,735

TOTAL

TELECOMMUNICATION

SERVICES

4,559,387

TRANSPORTATION

-

.2

%

29,602

\*

Alaska

Air

Group,

Inc

1,316,105

52,590

\*

Copa

Holdings

S.A.

(Class

A)

3,956,346

20,226

Forward

Air

Corp

2,141,327

99,450

\*

GXO

Logistics,

Inc

3,633,903

49,655

\*

Hub

Group,

Inc

(Class

A)

3,853,228

42,560

Ryder

System,

Inc

3,426,505

9,200

\*

Saia,

Inc

1,829,512

105,500

Schneider

National,

Inc

2,346,320

86,120

\*

XPO

Logistics,

Inc

4,455,849

TOTAL

TRANSPORTATION

26,959,095

UTILITIES

-

.4

%

66,584

Clearway

Energy,

Inc

(Class

A)

2,152,661

75,700

Essential

Utilities

Inc

3,347,454

13,550

MGE

Energy,

Inc

922,619

57,340

Northwest

Natural

Holding

Co

2,757,481

149,990

OGE

Energy

Corp

5,494,134

117,387

Vistra

Energy

Corp

2,696,379

TOTAL

UTILITIES

17,370,728

TOTAL

COMMON

STOCKS

1,232,745,629

(Cost

$1,116,045,484)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

2.1%

REPURCHASE

AGREEMENT

-

.5

%

$

6,440,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

%

11/01/22

6,440,000

TOTAL

REPURCHASE

AGREEMENT

6,440,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.6

%

20,239,769

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

20,239,769

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

20,239,769

TOTAL

SHORT-TERM

INVESTMENTS

26,679,769

(Cost

$26,679,769)

TOTAL

INVESTMENTS

-

102.0%

1,259,425,398

(Cost

$1,142,725,253)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(2.0)%

(24,979,157)

NET

ASSETS

-

100.0%

$

1,234,446,241

Portfolio

of

investments

Quant

Small/Mid-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

ETF

Exchange

Traded

Fund

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$30,408,210.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$6,440,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$6,568,850.

Social

Choice

Equity

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.7%

AUTOMOBILES

&

COMPONENTS

-

.1

%

199,551

\*

American

Axle

&

Manufacturing

Holdings,

Inc

$

1,933,649

110,497

\*

Aptiv

plc

10,062,962

12,746

BorgWarner,

Inc

478,357

263,562

\*,e

Lordstown

Motors

Corp

477,047

39,194

\*

Modine

Manufacturing

Co

702,357

492,526

\*

Tesla,

Inc

112,069,366

TOTAL

AUTOMOBILES

&

COMPONENTS

125,723,738

BANKS

-

.9

%

1,694

Ameris

Bancorp

87,258

47,422

Bank

OZK

2,038,197

3,518

Banner

Corp

262,970

47,884

Berkshire

Hills

Bancorp,

Inc

1,400,607

6,267

Brookline

Bancorp,

Inc

86,171

1,259

Cadence

BanCorp

34,811

3,985

Camden

National

Corp

173,427

830,296

Citigroup,

Inc

38,077,375

471,252

Citizens

Financial

Group,

Inc

19,274,207

Columbia

Banking

System,

Inc

14,727

108,335

Comerica,

Inc

7,637,617

Commerce

Bancshares,

Inc

26,211

1,572

Community

Trust

Bancorp,

Inc

74,340

46,110

\*

Customers

Bancorp,

Inc

1,553,446

6,874

Federal

Agricultural

Mortgage

Corp

(FAMC)

791,885

10,587

First

Busey

Corp

279,603

44,108

First

Republic

Bank

5,297,371

1,130

FNB

Corp

16,328

540

Glacier

Bancorp,

Inc

30,931

1,279

Hancock

Whitney

Corp

71,458

3,902

Heritage

Financial

Corp

131,458

19,184

HomeStreet,

Inc

498,017

285,811

Huntington

Bancshares,

Inc

4,338,611

218,676

Keycorp

3,907,740

24,031

Live

Oak

Bancshares,

Inc

780,287

15,374

\*

Mr

Cooper

Group,

Inc

607,119

26,162

National

Bank

Holdings

Corp

1,146,419

NBT

Bancorp,

Inc

14,691

7,838

Old

National

Bancorp

153,311

53,702

Pinnacle

Financial

Partners,

Inc

4,456,729

232,447

PNC

Financial

Services

Group,

Inc

37,616,898

682,855

Regions

Financial

Corp

14,988,667

19,485

\*

SVB

Financial

Group

4,500,256

1,879

\*

Texas

Capital

Bancshares,

Inc

112,740

10,055

TFS

Financial

Corp

141,273

17,614

\*

The

Bancorp,

Inc

485,794

3,796

Trico

Bancshares

219,826

513,618

Truist

Financial

Corp

23,004,950

Trustmark

Corp

12,799

2,167

UMB

Financial

Corp

180,338

650

Umpqua

Holdings

Corp

12,922

17,523

Univest

Financial

Corp

493,097

1,553

Westamerica

Bancorporation

97,420

Wintrust

Financial

Corp

21,533

55,123

Zions

Bancorporation

2,863,089

TOTAL

BANKS

178,014,924

CAPITAL

GOODS

-

.7

%

213,347

3M

Co

26,836,919

954

Acuity

Brands,

Inc

175,126

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

85,519

\*

Axon

Enterprise,

Inc

$

12,437,883

\*

Beacon

Roofing

Supply,

Inc

23,611

5,486

\*

Bloom

Energy

Corp

102,643

244,666

Carrier

Global

Corp

9,727,920

218,677

Caterpillar,

Inc

47,334,823

35,835

Cummins,

Inc

8,762,016

66,460

Curtiss-Wright

Corp

11,153,982

118,280

Deere

&

Co

46,817,590

180,177

Eaton

Corp

27,039,162

1,365

EMCOR

Group,

Inc

192,602

48,540

Emerson

Electric

Co

4,203,564

119,034

Fastenal

Co

5,752,913

99,730

Fortive

Corp

6,372,747

GATX

Corp

31,413

Granite

Construction,

Inc

8,264

11,668

Herc

Holdings,

Inc

1,372,273

143,741

Hexcel

Corp

8,006,374

1,801

IDEX

Corp

400,380

191,795

Illinois

Tool

Works,

Inc

40,953,986

317,614

Johnson

Controls

International

plc

18,370,794

171,085

Masco

Corp

7,916,103

98,990

\*

Mercury

Systems,

Inc

4,791,116

7,159

Moog,

Inc

(Class

A)

606,725

3,829

\*

MYR

Group,

Inc

335,076

6,412

Owens

Corning,

Inc

548,931

59,731

PACCAR,

Inc

5,783,753

37,955

Rockwell

Automation,

Inc

9,689,912

3,916

Rush

Enterprises,

Inc

(Class

A)

195,369

9,292

Snap-On,

Inc

2,063,289

69,059

Trane

Technologies

plc

11,023,888

109,782

\*

Triumph

Group,

Inc

993,527

30,230

\*

United

Rentals,

Inc

9,543,913

20,461

\*

Vectrus,

Inc

838,696

13,236

W.W.

Grainger,

Inc

7,734,457

1,174

Wabash

National

Corp

25,417

4,192

\*

WESCO

International,

Inc

577,532

36,655

Woodward

Inc

3,361,264

36,530

Xylem,

Inc

3,741,768

TOTAL

CAPITAL

GOODS

345,847,721

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.3

%

540

ABM

Industries,

Inc

24,035

9,872

ACCO

Brands

Corp

45,411

970

\*

ASGN

Inc

82,237

15,838

Cintas

Corp

6,771,537

285,941

\*

Copart,

Inc

32,888,934

4,282

Heidrick

&

Struggles

International,

Inc

120,581

Herman

Miller,

Inc

3,982

143,033

\*

KAR

Auction

Services,

Inc

2,078,269

39,570

Kelly

Services,

Inc

(Class

A)

646,574

52,605

Robert

Half

International,

Inc

4,022,178

1,210

Steelcase,

Inc

(Class

A)

9,402

120,100

TransUnion

7,118,327

2,825

\*

TriNet

Group,

Inc

183,568

14,026

Verisk

Analytics,

Inc

2,564,374

145,676

Waste

Management,

Inc

23,070,708

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

79,630,117

CONSUMER

DURABLES

&

APPAREL

-

.2

%

Columbia

Sportswear

Co

29,502

48,547

DR

Horton,

Inc

3,732,293

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

41,286

Ethan

Allen

Interiors,

Inc

$

1,056,509

56,305

\*

GoPro,

Inc

306,862

9,306

\*

Green

Brick

Partners,

Inc

215,248

Hasbro,

Inc

16,835

23,776

\*

iRobot

Corp

1,343,344

20,310

\*

Lovesac

Co

494,345

27,336

\*

Lululemon

Athletica,

Inc

8,994,637

5,483

Newell

Brands

Inc

75,720

473,335

Nike,

Inc

(Class

B)

43,868,688

1,897

\*

NVR,

Inc

8,039,012

1,614

PVH

Corp

82,830

136,133

\*

Sonos,

Inc

2,194,464

55,879

\*,e

Traeger,

Inc

231,898

87,275

\*

Tupperware

Brands

Corp

674,636

57,495

VF

Corp

1,624,234

TOTAL

CONSUMER

DURABLES

&

APPAREL

72,981,057

CONSUMER

SERVICES

-

.3

%

19,997

e

ADT,

Inc

169,175

26,652

\*

American

Public

Education,

Inc

341,412

21,539

\*

Booking

Holdings,

Inc

40,266,730

33,683

\*

Bright

Horizons

Family

Solutions

2,200,173

27,978

Carriage

Services,

Inc

682,943

79,641

\*

Dave

&

Buster's

Entertainment,

Inc

3,173,694

24,042

Domino's

Pizza,

Inc

7,987,714

36,071

El

Pollo

Loco

Holdings,

Inc

362,153

1,303

Graham

Holdings

Co

812,902

252,387

Hilton

Worldwide

Holdings,

Inc

34,137,866

28,107

\*

Planet

Fitness,

Inc

1,840,446

3,259

\*

Shake

Shack,

Inc

181,103

73,527

\*

Six

Flags

Entertainment

Corp

1,639,652

490,240

Starbucks

Corp

42,449,881

19,207

Vail

Resorts,

Inc

4,208,830

74,915

Wendy's

1,556,734

94,636

\*

WW

International

Inc

427,755

TOTAL

CONSUMER

SERVICES

142,439,163

DIVERSIFIED

FINANCIALS

-

.7

%

178,603

Ally

Financial,

Inc

4,922,299

286,307

American

Express

Co

42,502,274

60,154

Ameriprise

Financial,

Inc

18,594,804

502,214

Bank

of

New

York

Mellon

Corp

21,148,231

65,633

BlackRock,

Inc

42,393,011

620,164

Charles

Schwab

Corp

49,408,466

127,359

CME

Group,

Inc

22,071,315

Cohen

&

Steers,

Inc

16,845

318,912

Discover

Financial

Services

33,313,547

8,872

Factset

Research

Systems,

Inc

3,774,947

138,585

Goldman

Sachs

Group,

Inc

47,743,918

9,333

\*

Green

Dot

Corp

177,607

335,651

Intercontinental

Exchange

Group,

Inc

32,078,166

36,329

Invesco

Ltd

556,560

78,034

Moody's

Corp

20,668,866

528,225

Morgan

Stanley

43,404,248

68,637

Nasdaq

Inc

4,271,967

101,805

Northern

Trust

Corp

8,587,252

200,000

Nuveen

ESG

Large-Cap

ETF

6,563,300

5,668

\*

PRA

Group,

Inc

189,878

2,432

\*

PROG

Holdings,

Inc

40,177

7,993

Raymond

James

Financial,

Inc

944,293

137,355

S&P

Global,

Inc

44,125,294

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS—continued

123,600

State

Street

Corp

$

9,146,400

65,344

T

Rowe

Price

Group,

Inc

6,936,919

25,591

Voya

Financial,

Inc

1,749,401

TOTAL

DIVERSIFIED

FINANCIALS

465,329,985

ENERGY

-

.2

%

365,578

Antero

Midstream

Corp

3,893,406

182,220

APA

Corp

8,283,721

255,419

Baker

Hughes

Co

7,064,890

2,812

ChampionX

Corp

80,479

185,947

Cheniere

Energy,

Inc

32,802,910

431,649

ConocoPhillips

54,426,622

2,207

Delek

US

Holdings,

Inc

65,460

148,599

Devon

Energy

Corp

11,494,133

12,678

\*

DMC

Global,

Inc

274,352

152,325

EOG

Resources,

Inc

20,795,409

211,025

EQT

Corp

8,829,286

96,629

Hess

Corp

13,632,419

950,369

Kinder

Morgan,

Inc

17,220,686

681,982

\*

Kosmos

Energy

Ltd

4,426,063

91,865

Marathon

Petroleum

Corp

10,437,701

322,948

NOV,

Inc

7,234,035

295,497

Occidental

Petroleum

Corp

21,453,082

12,097

\*

Oceaneering

International,

Inc

169,237

19,522

ONEOK,

Inc

1,158,045

18,932

Ovintiv,

Inc

958,906

81,545

Pioneer

Natural

Resources

Co

20,908,954

766,162

Schlumberger

Ltd

39,863,409

744,346

\*

Southwestern

Energy

Co

5,158,318

201,345

Valero

Energy

Corp

25,278,865

TOTAL

ENERGY

315,910,388

FOOD

&

STAPLES

RETAILING

-

.7

%

191,931

\*

BJ's

Wholesale

Club

Holdings,

Inc

14,855,459

81,080

\*

Performance

Food

Group

Co

4,219,403

37,095

Pricesmart,

Inc

2,372,967

59,184

SpartanNash

Co

2,113,461

189,337

\*

Sprouts

Farmers

Market,

Inc

5,585,442

92,192

\*

United

Natural

Foods,

Inc

3,909,863

249,841

\*

US

Foods

Holding

Corp

7,435,268

TOTAL

FOOD

&

STAPLES

RETAILING

40,491,863

FOOD,

BEVERAGE

&

TOBACCO

-

.3

%

70,442

Archer-Daniels-Midland

Co

6,831,465

48,343

Campbell

Soup

Co

2,557,828

1,084,673

Coca-Cola

Co

64,917,679

13,309

\*

Darling

International,

Inc

1,044,490

35,374

Fresh

Del

Monte

Produce,

Inc

922,554

366,471

General

Mills,

Inc

29,896,704

3,800

\*

Hain

Celestial

Group,

Inc

71,098

206,505

Hormel

Foods

Corp

9,592,157

130,364

Kellogg

Co

10,014,563

70,056

McCormick

&

Co,

Inc

5,509,204

380,090

PepsiCo,

Inc

69,016,742

6,553

\*

TreeHouse

Foods,

Inc

329,223

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

200,703,707

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.9

%

36,512

\*

Abiomed,

Inc

9,203,945

42,465

\*

Align

Technology,

Inc

8,250,949

61,738

\*

Allscripts

Healthcare

Solutions,

Inc

907,549

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

59,123

\*

Angiodynamics,

Inc

$

833,043

7,715

\*

AtriCure,

Inc

324,956

983

\*

Axonics

Modulation

Technologies,

Inc

71,897

238,681

\*

Cerus

Corp

873,572

140,120

Cigna

Corp

45,267,167

19,097

\*

Computer

Programs

&

Systems,

Inc

616,833

34,556

Cooper

Cos,

Inc

9,447,265

8,944

Dentsply

Sirona,

Inc

275,654

191,328

\*

Dexcom,

Inc

23,108,596

356,778

\*

Edwards

Lifesciences

Corp

25,841,431

92,210

Elevance

Health,

Inc

50,417,662

141,106

\*

Envista

Holdings

Corp

4,657,909

11,862

\*

Globus

Medical,

Inc

794,754

105,672

HCA

Healthcare,

Inc

22,980,490

55,315

\*

Health

Catalyst,

Inc

487,878

17,140

\*

Henry

Schein,

Inc

1,173,404

5,398

\*

Heska

Corp

387,360

92,217

\*

Hologic,

Inc

6,252,313

74,312

Humana,

Inc

41,472,041

49,662

\*

IDEXX

Laboratories,

Inc

17,862,428

7,998

\*

Inogen,

Inc

181,235

148,542

\*

Intuitive

Surgical,

Inc

36,611,147

37,957

Laboratory

Corp

of

America

Holdings

8,421,140

25,670

LeMaitre

Vascular,

Inc

1,114,078

7,921

\*

LivaNova

plc

373,079

36,789

\*

Merit

Medical

Systems,

Inc

2,529,980

94,024

\*

NextGen

Healthcare,

Inc

1,884,241

36,544

\*

Omnicell,

Inc

2,825,582

365,030

\*

Opko

Health,

Inc

693,557

51,150

\*

OraSure

Technologies,

Inc

223,014

30,909

\*

Orthofix

Medical

Inc

496,399

13,076

\*

Penumbra,

Inc

2,242,142

1,887

Premier,

Inc

65,819

22,904

Quest

Diagnostics,

Inc

3,290,160

68,280

Resmed,

Inc

15,273,553

20,651

\*

Staar

Surgical

Co

1,463,536

27,192

STERIS

plc

4,692,795

4,512

\*

Tactile

Systems

Technology,

Inc

33,569

14,310

\*

Tandem

Diabetes

Care,

Inc

803,506

3,221

\*

Teladoc,

Inc

95,470

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

354,823,098

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.7

%

260,833

Colgate-Palmolive

Co

19,259,909

54,856

Kimberly-Clark

Corp

6,827,378

582,799

Procter

&

Gamble

Co

78,485,541

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

104,572,828

INSURANCE

-

.7

%

275,241

Aflac,

Inc

17,920,941

96,775

Allstate

Corp

12,217,844

10,501

Arthur

J. Gallagher

&

Co

1,964,527

204,631

Chubb

Ltd

43,973,156

909,210

\*

Genworth

Financial,

Inc

(Class

A)

4,246,011

73,799

Lincoln

National

Corp

3,975,552

178,033

Loews

Corp

10,151,442

255,970

Marsh

&

McLennan

Cos,

Inc

41,336,595

245,742

Progressive

Corp

31,553,273

268,139

Prudential

Financial,

Inc

28,205,541

128,444

Travelers

Cos,

Inc

23,692,780

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

12,115

Willis

Towers

Watson

plc

$

2,643,614

TOTAL

INSURANCE

221,881,276

MATERIALS

-

.9

%

15,724

Amcor

plc

182,084

10,332

Aptargroup,

Inc

1,024,418

242,787

Ball

Corp

11,991,250

78,491

\*

Century

Aluminum

Co

565,920

41,035

\*

Coeur

Mining,

Inc

155,112

1,709

Compass

Minerals

International,

Inc

67,574

98,034

Dow,

Inc

4,582,109

194,299

Ecolab,

Inc

30,518,544

52,352

Glatfelter

Corp

148,156

945

H.B.

Fuller

Co

65,876

58,009

International

Flavors

&

Fragrances,

Inc

5,662,258

36,220

Koppers

Holdings,

Inc

904,051

178,196

Linde

plc

52,986,581

15,280

Martin

Marietta

Materials,

Inc

5,133,774

268,049

Mosaic

Co

14,407,634

417,007

Newmont

Goldcorp

Corp

17,647,736

159,805

Nucor

Corp

20,995,181

19,087

PPG

Industries,

Inc

2,179,354

2,337

Reliance

Steel

&

Aluminum

Co

470,859

4,126

Schnitzer

Steel

Industries,

Inc

(Class

A)

111,361

145,000

\*

Summit

Materials,

Inc

3,820,750

21,681

e

Trinseo

plc

408,036

TOTAL

MATERIALS

174,028,618

MEDIA

&

ENTERTAINMENT

-

.9

%

183,270

\*

Cinemark

Holdings,

Inc

1,944,495

1,066,497

Comcast

Corp

(Class

A)

33,850,615

125,710

Electronic

Arts,

Inc

15,834,431

155,166

Gray

Television,

Inc

2,195,599

103,389

\*

iHeartMedia,

Inc

856,061

9,044

\*

Imax

Corp

115,130

104,365

Interpublic

Group

of

Cos,

Inc

3,109,033

13,563

John

Wiley

&

Sons,

Inc

(Class

A)

572,223

77,175

\*

Liberty

Broadband

Corp

(Class

C)

6,515,885

127,851

\*

Netflix,

Inc

37,317,150

13,180

New

York

Times

Co

(Class

A)

381,693

294,588

Omnicom

Group,

Inc

21,431,277

65,900

\*

Pinterest,

Inc

1,621,140

4,632

\*

Roku,

Inc

257,261

7,816

Scholastic

Corp

298,102

52,081

Sinclair

Broadcast

Group,

Inc

(Class

A)

927,563

1,245,240

e

Sirius

XM

Holdings,

Inc

7,521,249

139,881

\*

Take-Two

Interactive

Software,

Inc

16,573,101

8,077

TEGNA,

Inc

168,648

179,898

\*

TripAdvisor,

Inc

4,249,191

121,662

\*

Vimeo,

Inc

462,316

512,185

\*

Walt

Disney

Co

54,568,190

284,699

\*

Warner

Bros

Discovery,

Inc

3,701,087

90,288

\*

Yelp,

Inc

3,467,962

473,927

\*

ZoomInfo

Technologies,

Inc

21,103,969

TOTAL

MEDIA

&

ENTERTAINMENT

239,043,371

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.7

%

72,985

\*

Aerie

Pharmaceuticals,

Inc

1,110,832

225,045

Agilent

Technologies,

Inc

31,134,976

46,854

\*

Agios

Pharmaceuticals,

Inc

1,290,359

180,747

Amgen,

Inc

48,864,952

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

68,699

\*

Atara

Biotherapeutics,

Inc

$

320,137

2,503

\*,e

Axsome

Therapeutics,

Inc

113,010

87,107

\*

BioCryst

Pharmaceuticals,

Inc

1,162,878

47,040

\*

BioMarin

Pharmaceutical,

Inc

4,075,075

721,217

Bristol-Myers

Squibb

Co

55,872,681

67,570

\*

Chimerix,

Inc

119,599

54,314

\*

Collegium

Pharmaceutical,

Inc

974,393

206,042

Danaher

Corp

51,854,590

215,636

Eli

Lilly

&

Co

78,079,639

329,410

Gilead

Sciences,

Inc

25,845,509

16,303

\*

Illumina,

Inc

3,730,453

32,728

\*

Insmed,

Inc

566,849

16,514

\*

Intra-Cellular

Therapies,

Inc

754,194

64,325

\*

IQVIA

Holdings,

Inc

13,487,023

27,862

\*

Jazz

Pharmaceuticals

plc

4,006,277

28,395

\*

Karyopharm

Therapeutics,

Inc

135,160

32,897

\*

MacroGenics,

Inc

168,433

296,339

Merck

&

Co,

Inc

29,989,507

5,838

\*

Mettler-Toledo

International,

Inc

7,384,661

2,895

\*

Mirati

Therapeutics,

Inc

194,891

42,303

Perrigo

Co

plc

1,703,965

66,120

\*

Prothena

Corp

plc

4,062,413

98,240

\*,e

Provention

Bio,

Inc

681,786

9,835

\*

Regeneron

Pharmaceuticals,

Inc

7,363,956

14,849

\*

Repligen

Corp

2,709,794

74,418

\*

Revance

Therapeutics,

Inc

1,660,266

114,273

Thermo

Fisher

Scientific,

Inc

58,732,894

3,649

\*

Ultragenyx

Pharmaceutical,

Inc

147,639

134,887

\*

Vertex

Pharmaceuticals,

Inc

42,084,744

18,425

\*

Waters

Corp

5,512,207

37,317

West

Pharmaceutical

Services,

Inc

8,586,642

229,553

Zoetis,

Inc

34,612,001

14,602

\*,†

Zogenix,

Inc

9,929

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

529,104,314

REAL

ESTATE

-

.6

%

189,892

American

Tower

Corp

39,343,724

72,632

Boston

Properties,

Inc

5,280,346

54,010

Brixmor

Property

Group,

Inc

1,150,953

84,154

CBRE

Group,

Inc

5,969,885

50,854

City

Office

REIT,

Inc

540,070

46,458

Crown

Castle

International

Corp

6,190,993

309,873

DiamondRock

Hospitality

Co

2,894,214

8,358

Douglas

Emmett,

Inc

147,017

36,148

Equinix,

Inc

20,475,673

33,420

First

Industrial

Realty

Trust,

Inc

1,591,795

123,301

Franklin

Street

Properties

Corp

355,107

204,267

Healthpeak

Properties

Inc

4,847,256

1,487

\*

Howard

Hughes

Corp

91,227

27,253

iStar

Inc

285,611

5,945

\*

Jones

Lang

LaSalle,

Inc

945,790

4,739

Kilroy

Realty

Corp

202,545

243,312

Macerich

Co

2,708,063

4,166

Paramount

Group,

Inc

26,954

412,858

Park

Hotels

&

Resorts,

Inc

5,400,183

540

Piedmont

Office

Realty

Trust,

Inc

5,643

6,352

PotlatchDeltic

Corp

282,600

319,767

Prologis,

Inc

35,414,195

59,974

\*

Realogy

Holdings

Corp

445,607

2,009

RMR

Group,

Inc

54,986

11,019

\*

Tejon

Ranch

Co

186,662

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE—continued

63,246

Ventas,

Inc

$

2,474,816

Washington

REIT

5,670

177,561

Welltower,

Inc

10,838,323

238,457

Weyerhaeuser

Co

7,375,475

58,638

Xenia

Hotels

&

Resorts,

Inc

1,001,537

TOTAL

REAL

ESTATE

156,532,920

RETAILING

-

.3

%

42,656

\*

1-800-FLOWERS.COM,

Inc

(Class

A)

310,962

1,216

Aaron's

Co,

Inc

12,671

15,656

Advance

Auto

Parts,

Inc

2,973,388

Buckle,

Inc

9,833

1,601

\*

CarMax,

Inc

100,879

779,242

eBay,

Inc

31,045,001

6,360

\*

Five

Below,

Inc

930,786

24,775

\*

Genesco,

Inc

1,165,416

22,419

Hibbett

Sports,

Inc

1,399,394

261,416

Home

Depot,

Inc

77,413,120

25,413

\*

Lands'

End,

Inc

266,328

42,655

\*

Liquidity

Services,

Inc

732,813

77,025

LKQ

Corp

4,285,671

241,920

Lowe's

Companies,

Inc

47,162,304

424,516

Macy's,

Inc

8,851,159

35,671

\*

MarineMax,

Inc

1,152,530

Pool

Corp

120,779

147,288

\*

Quotient

Technology,

Inc

362,328

44,159

Ross

Stores,

Inc

4,225,575

5,448

\*

Sally

Beauty

Holdings,

Inc

69,244

32,132

Shoe

Carnival,

Inc

770,525

218,871

Target

Corp

35,949,562

97,689

\*,e

ThredUp,

Inc

120,157

467,945

TJX

Companies,

Inc

33,738,835

15,754

Tractor

Supply

Co

3,462,257

11,453

\*

TravelCenters

of

America,

Inc

728,182

860

Winmark

Corp

216,410

18,394

\*

Zumiez,

Inc

412,577

TOTAL

RETAILING

257,988,686

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.9

%

424,742

Applied

Materials,

Inc

37,500,471

22,180

\*

Cirrus

Logic,

Inc

1,488,722

75,276

\*

First

Solar,

Inc

10,957,927

1,436,016

Intel

Corp

40,825,935

79,447

Lam

Research

Corp

32,158,557

577,817

NVIDIA

Corp

77,987,960

475,421

\*

ON

Semiconductor

Corp

29,205,112

18,585

\*

Silicon

Laboratories,

Inc

2,135,788

320,381

Texas

Instruments,

Inc

51,462,800

13,239

Universal

Display

Corp

1,260,618

119,266

\*

Wolfspeed,

Inc

9,392,198

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

294,376,088

SOFTWARE

&

SERVICES

-

.1

%

203,342

Accenture

plc

57,728,794

142,621

\*

Adobe,

Inc

45,424,789

8,948

\*

Ansys,

Inc

1,978,940

165,953

\*

Autodesk,

Inc

35,563,728

185,674

Automatic

Data

Processing,

Inc

44,877,406

50,952

\*

Benefitfocus,

Inc

359,212

86,552

\*

Blackline,

Inc

4,846,912

133,543

\*

Cadence

Design

Systems,

Inc

20,217,075

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

51,744

\*

ChannelAdvisor

Corp

$

1,192,182

27,122

Concentrix

Corp

3,315,122

55,469

CSG

Systems

International,

Inc

3,587,180

113,572

Dolby

Laboratories,

Inc

(Class

A)

7,591,153

424,613

\*

DXC

Technology

Co

12,207,624

38,717

\*

Elastic

NV

2,475,952

57,024

\*

ExlService

Holdings,

Inc

10,369,814

302,563

Fidelity

National

Information

Services,

Inc

25,109,703

107,101

\*

Five9,

Inc

6,453,906

31,479

\*

HubSpot,

Inc

9,335,412

InterDigital,

Inc

9,076

352,656

International

Business

Machines

Corp

48,768,798

101,475

Intuit,

Inc

43,380,563

228,001

Mastercard,

Inc

(Class

A)

74,825,368

1,279,507

d

Microsoft

Corp

297,011,960

87,517

\*

New

Relic,

Inc

5,184,507

123,295

\*

Nutanix,

Inc

3,378,283

198,924

\*

Okta,

Inc

11,163,615

5,290

\*

OneSpan,

Inc

58,137

27,817

\*

Paylocity

Holding

Corp

6,447,702

492,146

\*

PayPal

Holdings,

Inc

41,133,563

57,668

\*

Perficient,

Inc

3,862,026

28,640

\*

Rapid7,

Inc

1,296,533

36,980

Roper

Technologies,

Inc

15,329,689

300,072

\*

Salesforce,

Inc

48,788,707

90,530

\*

ServiceNow,

Inc

38,089,592

34,748

\*

Smartsheet,

Inc

1,213,400

61,226

\*

SPS

Commerce,

Inc

7,746,314

110,299

\*

SVMK,

Inc

855,920

84,432

\*

Synopsys,

Inc

24,700,582

58,543

\*

Teradata

Corp

1,849,373

29,975

TTEC

Holdings,

Inc

1,332,988

280,648

VMware,

Inc

(Class

A)

31,581,319

79,109

\*

WEX,

Inc

12,984,951

160,899

\*

Workday,

Inc

25,071,282

9,332

\*

Workiva,

Inc

726,123

TOTAL

SOFTWARE

&

SERVICES

1,039,425,275

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.6

%

73,619

Avnet,

Inc

2,958,748

20,528

Badger

Meter,

Inc

2,308,989

62,976

Benchmark

Electronics,

Inc

1,787,889

131,980

\*

Ciena

Corp

6,321,842

1,263,337

Cisco

Systems,

Inc

57,393,400

294,075

Cognex

Corp

13,595,087

54,705

CTS

Corp

2,161,942

40,057

\*

ePlus,

Inc

1,951,577

63,716

\*

Fabrinet

7,289,110

31,557

\*

FARO

Technologies,

Inc

921,780

1,675,996

Hewlett

Packard

Enterprise

Co

23,916,463

1,185,365

HP,

Inc

32,739,781

39,174

\*

Insight

Enterprises,

Inc

3,702,335

3,493

\*

Itron,

Inc

170,773

197,605

\*

Keysight

Technologies,

Inc

34,412,911

37,235

\*

Kimball

Electronics,

Inc

769,647

155,805

\*

Knowles

Corp

2,142,319

14,814

\*

Lumentum

Holdings,

Inc

1,102,902

6,814

Methode

Electronics,

Inc

280,941

288,932

\*,e

Microvision,

Inc

1,057,491

3,474

Motorola

Solutions,

Inc

867,493

54,373

National

Instruments

Corp

2,075,961

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

3,344

\*

Novanta,

Inc

$

472,842

500

\*

OSI

Systems,

Inc

41,090

42,879

\*,e

PAR

Technology

Corp

1,234,058

21,181

\*

Plexus

Corp

2,084,210

55,453

\*

Ribbon

Communications,

Inc

146,950

33,155

\*

Rogers

Corp

7,802,366

74,821

SYNNEX

Corp

6,846,870

433,463

\*

Trimble

Inc

26,077,134

179,596

\*

TTM

Technologies,

Inc

2,749,615

18,688

\*

Vishay

Precision

Group,

Inc

630,720

276,797

Vontier

Corp

5,286,823

199,540

Xerox

Holdings

Corp

2,919,270

90,828

\*

Zebra

Technologies

Corp

(Class

A)

25,724,306

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

281,945,635

TELECOMMUNICATION

SERVICES

-

.9

%

167,393

\*

Iridium

Communications,

Inc

8,625,761

1,236,597

Verizon

Communications,

Inc

46,211,630

TOTAL

TELECOMMUNICATION

SERVICES

54,837,391

TRANSPORTATION

-

.9

%

43,563

ArcBest

Corp

3,460,209

26,629

\*

Avis

Budget

Group,

Inc

6,296,693

55,101

CH

Robinson

Worldwide,

Inc

5,384,470

1,265,121

CSX

Corp

36,764,416

885,928

\*

Delta

Air

Lines,

Inc

30,059,537

101,378

Expeditors

International

of

Washington,

Inc

9,919,837

Landstar

System,

Inc

28,120

113,436

Norfolk

Southern

Corp

25,871,349

50,452

Old

Dominion

Freight

Line

13,854,119

Ryder

System,

Inc

725

273,387

United

Parcel

Service,

Inc

(Class

B)

45,866,137

TOTAL

TRANSPORTATION

177,505,612

UTILITIES

-

.2

%

276,600

American

Electric

Power

Co,

Inc

24,318,672

187,145

Consolidated

Edison,

Inc

16,461,274

19,802

DTE

Energy

Co

2,220,002

73,702

Eversource

Energy

5,621,989

649,423

NextEra

Energy,

Inc

50,330,283

206,735

Public

Service

Enterprise

Group,

Inc

11,591,631

163,123

Sempra

Energy

24,621,786

6,282

South

Jersey

Industries,

Inc

217,797

499,130

Southern

Co

32,683,032

30,558

UGI

Corp

1,079,614

112,385

WEC

Energy

Group,

Inc

10,264,122

180,121

Xcel

Energy,

Inc

11,727,678

TOTAL

UTILITIES

191,137,880

TOTAL

COMMON

STOCKS

6,044,275,655

(Cost

$4,393,497,828)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.4%

REPURCHASE

AGREEMENT

-

.3

%

$

16,410,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

%

11/01/22

16,410,000

TOTAL

REPURCHASE

AGREEMENT

16,410,000

Portfolio

of

investments

Social

Choice

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

concluded

SHARES

COMPANY

RATE

EXP

VALUE

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.1

%

9,483,974

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

%

$

9,483,974

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

9,483,974

TOTAL

SHORT-TERM

INVESTMENTS

25,893,974

(Cost

$25,893,974)

TOTAL

INVESTMENTS

-

100.1%

6,070,169,629

(Cost

$4,419,391,802)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(6,474,101)

NET

ASSETS

-

100.0%

$

6,063,695,528

ETF

Exchange

Traded

Fund

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

d

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$11,981,504.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$16,410,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

0.250%

and

maturity

date

9/30/25,

valued

at

$16,738,219.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

S&P

500

E

Mini

Index

12/16/22

$

15,453,340

$

16,308,600

$

855,260

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.3%

AUTOMOBILES

&

COMPONENTS

-

2.2%

35,767

\*

Aptiv

plc

$

3,257,301

23,226

\*,e

Lordstown

Motors

Corp

42,039

90,174

\*

Tesla,

Inc

20,518,192

TOTAL

AUTOMOBILES

&

COMPONENTS

23,817,532

BANKS

-

2.7%

1,105

Amalgamated

Financial

Corp

25,404

Camden

National

Corp

14,753

160,289

Citigroup,

Inc

7,350,854

49,591

Citizens

Financial

Group,

Inc

2,028,272

4,770

\*

Customers

Bancorp,

Inc

160,701

Federal

Agricultural

Mortgage

Corp

(FAMC)

14,861

First

Commonwealth

Financial

Corp

1,707

5,530

First

Republic

Bank

664,153

HomeStreet,

Inc

10,747

16,834

Huntington

Bancshares,

Inc

255,540

5,919

Independent

Bank

Corp

136,907

33,252

Keycorp

594,213

Live

Oak

Bancshares,

Inc

8,507

42,628

PNC

Financial

Services

Group,

Inc

6,898,489

1,527

Premier

Financial

Corp

44,054

65,064

Regions

Financial

Corp

1,428,155

1,460

Stellar

Bancorp,

Inc

47,946

10,391

\*

SVB

Financial

Group

2,399,905

6,131

\*

Texas

Capital

Bancshares,

Inc

367,860

137,130

Truist

Financial

Corp

6,142,053

1,445

Univest

Financial

Corp

40,662

TOTAL

BANKS

28,635,743

CAPITAL

GOODS

-

7.2%

39,841

3M

Co

5,011,599

20,238

\*

Axon

Enterprise,

Inc

2,943,415

1,631

\*,e

Blink

Charging

Co

24,139

88,108

Carrier

Global

Corp

3,503,174

39,248

Caterpillar,

Inc

8,495,622

11,472

Curtiss-Wright

Corp

1,925,346

20,706

Deere

&

Co

8,195,849

46,006

Eaton

Corp

6,904,120

EMCOR

Group,

Inc

38,238

75,918

Emerson

Electric

Co

6,574,499

16,418

\*

Energy

Recovery,

Inc

422,435

28,654

Fastenal

Co

1,384,848

42,857

Fortive

Corp

2,738,562

3,575

\*

Generac

Holdings,

Inc

414,378

14,308

Hexcel

Corp

796,956

3,189

Hyster-Yale

Materials

Handling,

Inc

92,991

33,885

Illinois

Tool

Works,

Inc

7,235,464

32,510

Johnson

Controls

International

plc

1,880,378

8,222

Luxfer

Holdings

plc

118,972

20,763

Maxar

Technologies,

Inc

463,845

16,074

\*

Mercury

Systems,

Inc

777,982

1,616

Moog,

Inc

(Class

A)

136,956

3,920

Owens

Corning,

Inc

335,591

7,907

PACCAR,

Inc

765,635

21,743

Quanta

Services,

Inc

3,088,376

6,567

Rockwell

Automation,

Inc

1,676,555

2,387

Trane

Technologies

plc

381,037

17,595

\*

Triumph

Group,

Inc

159,235

18,884

\*

United

Rentals,

Inc

5,961,868

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

2,509

\*

Vectrus,

Inc

$

102,844

4,195

\*

Veritiv

Corp

487,711

4,248

W.W.

Grainger,

Inc

2,482,319

14,308

Wabash

National

Corp

309,768

6,960

\*

WESCO

International,

Inc

958,879

6,924

Woodward

Inc

634,931

1,778

Xylem,

Inc

182,120

TOTAL

CAPITAL

GOODS

77,606,637

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

1.2%

6,190

ACCO

Brands

Corp

28,474

14,820

Cintas

Corp

6,336,291

48,651

\*

Copart,

Inc

5,595,838

1,243

Heidrick

&

Struggles

International,

Inc

35,003

1,324

Herman

Miller,

Inc

28,042

ICF

International,

Inc

33,257

Insperity,

Inc

19,119

2,761

\*

KAR

Auction

Services,

Inc

40,117

5,463

Kelly

Services,

Inc

(Class

A)

89,266

Kforce,

Inc

5,558

TransUnion

329,423

1,943

\*

TrueBlue,

Inc

38,199

Verisk

Analytics,

Inc

71,852

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

12,645,324

CONSUMER

DURABLES

&

APPAREL

-

1.2%

5,721

DR

Horton,

Inc

439,831

16,985

\*

GoPro,

Inc

92,568

Hasbro,

Inc

1,724

\*

iRobot

Corp

97,406

2,929

\*

Lovesac

Co

71,292

13,993

\*

Lululemon

Athletica,

Inc

4,604,257

83,994

Nike,

Inc

(Class

B)

7,784,564

9,623

\*

Sonos,

Inc

155,123

10,943

\*

Tupperware

Brands

Corp

84,589

TOTAL

CONSUMER

DURABLES

&

APPAREL

13,329,956

CONSUMER

SERVICES

-

2.2%

21,317

\*

2U,

Inc

131,952

3,927

\*

American

Public

Education,

Inc

50,305

3,808

\*

Booking

Holdings,

Inc

7,118,980

12,782

\*

Brinker

International,

Inc

426,791

4,301

Carriage

Services,

Inc

104,987

12,260

\*

Dave

&

Buster's

Entertainment,

Inc

488,561

2,879

Domino's

Pizza,

Inc

956,519

1,397

El

Pollo

Loco

Holdings,

Inc

14,026

6,086

European

Wax

Center,

Inc

87,517

\*

frontdoor,

Inc

2,824

46,533

Hilton

Worldwide

Holdings,

Inc

6,294,054

5,037

\*

Shake

Shack,

Inc

279,906

4,968

\*

Six

Flags

Entertainment

Corp

110,786

85,464

Starbucks

Corp

7,400,328

2,511

Vail

Resorts,

Inc

550,235

7,087

\*

WW

International

Inc

32,033

TOTAL

CONSUMER

SERVICES

24,049,804

DIVERSIFIED

FINANCIALS

-

6.9%

53,145

Ally

Financial,

Inc

1,464,676

49,980

American

Express

Co

7,419,531

4,768

Ameriprise

Financial,

Inc

1,473,884

54,996

Bank

of

New

York

Mellon

Corp

2,315,882

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS—continued

12,262

BlackRock,

Inc

$

7,920,148

109,050

Charles

Schwab

Corp

8,688,014

29,021

CME

Group,

Inc

5,029,339

28,027

Discover

Financial

Services

2,927,700

2,047

\*

Donnelley

Financial

Solutions,

Inc

82,760

24,950

Goldman

Sachs

Group,

Inc

8,595,525

68,499

Intercontinental

Exchange

Group,

Inc

6,546,449

15,728

Moody's

Corp

4,165,875

92,603

Morgan

Stanley

7,609,189

12,285

Perella

Weinberg

Partners

96,806

1,527

Raymond

James

Financial,

Inc

180,400

24,500

S&P

Global,

Inc

7,870,625

19,202

State

Street

Corp

1,420,948

1,079

T

Rowe

Price

Group,

Inc

114,547

TOTAL

DIVERSIFIED

FINANCIALS

73,922,298

ENERGY

-

3.5%

38,102

Archrock,

Inc

286,146

216,395

Baker

Hughes

Co

5,985,486

16,830

Cactus,

Inc

870,448

60,854

ChampionX

Corp

1,741,641

34,185

Cheniere

Energy,

Inc

6,030,576

48,397

\*

Clean

Energy

Fuels

Corp

324,744

20,124

Delek

US

Holdings,

Inc

596,878

4,198

\*

DMC

Global,

Inc

90,845

8,392

\*

Dril-Quip,

Inc

208,793

28,495

DT

Midstream,

Inc

1,701,151

1,650

Enviva,

Inc

98,736

15,053

\*

Green

Plains

Inc

434,881

169,004

Halliburton

Co

6,155,126

44,121

HF

Sinclair

Corp

2,698,881

115,853

NOV,

Inc

2,595,107

29,233

\*

Oceaneering

International,

Inc

408,970

97,268

ONEOK,

Inc

5,769,938

20,180

\*

Weatherford

International

Ltd

841,102

17,818

World

Fuel

Services

Corp

454,181

TOTAL

ENERGY

37,293,630

FOOD

&

STAPLES

RETAILING

-

1.0%

36,632

\*

BJ's

Wholesale

Club

Holdings,

Inc

2,835,317

39,636

Kroger

Co

1,874,386

40,550

\*

Performance

Food

Group

Co

2,110,222

Pricesmart,

Inc

25,396

5,542

SpartanNash

Co

197,905

28,639

\*

Sprouts

Farmers

Market,

Inc

844,851

10,982

\*

United

Natural

Foods,

Inc

465,747

60,461

\*

US

Foods

Holding

Corp

1,799,319

TOTAL

FOOD

&

STAPLES

RETAILING

10,153,143

FOOD,

BEVERAGE

&

TOBACCO

-

4.7%

70,206

Archer-Daniels-Midland

Co

6,808,578

7,764

\*,e

Beyond

Meat,

Inc

121,895

17,950

Bunge

Ltd

1,771,665

191,448

Coca-Cola

Co

11,458,163

46,341

\*

Darling

International,

Inc

3,636,841

78,840

General

Mills,

Inc

6,431,767

\*

Hain

Celestial

Group,

Inc

1,628

38,355

Hormel

Foods

Corp

1,781,590

6,455

Kellogg

Co

495,873

127,363

Keurig

Dr

Pepper,

Inc

4,946,779

11,256

McCormick

&

Co,

Inc

885,172

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

65,415

PepsiCo,

Inc

$

11,878,056

3,305

\*

Vital

Farms,

Inc

43,758

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

50,261,765

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

6.4%

2,773

\*

Abiomed,

Inc

699,018

\*

Acadia

Healthcare

Co,

Inc

10,244

9,707

\*

Align

Technology,

Inc

1,886,070

\*

AMN

Healthcare

Services,

Inc

5,396

2,779

\*

Angiodynamics,

Inc

39,156

10,266

\*

Cerus

Corp

37,574

24,402

Cigna

Corp

7,883,310

2,905

\*

Computer

Programs

&

Systems,

Inc

93,831

2,215

Cooper

Cos,

Inc

605,559

8,877

\*

CryoLife,

Inc

99,067

85,813

CVS

Health

Corp

8,126,491

47,352

\*

Dexcom,

Inc

5,719,175

67,509

\*

Edwards

Lifesciences

Corp

4,889,677

16,630

Elevance

Health,

Inc

9,092,785

Encompass

Health

Corp

16,060

\*

Enhabit,

Inc

1,826

9,467

\*

Envista

Holdings

Corp

312,506

517

\*

Guardant

Health,

Inc

25,591

24,807

HCA

Healthcare,

Inc

5,394,778

16,334

\*

Health

Catalyst,

Inc

144,066

6,341

\*

Hologic,

Inc

429,920

12,944

Humana,

Inc

7,223,787

8,089

\*

IDEXX

Laboratories,

Inc

2,909,452

\*

Integer

Holding

Corp

5,610

31,780

\*

Intuitive

Surgical,

Inc

7,832,817

\*

LivaNova

plc

2,920

12,567

\*

Meridian

Bioscience,

Inc

401,767

7,558

\*

NextGen

Healthcare,

Inc

151,462

11,186

\*

Omnicell,

Inc

864,902

6,517

\*

Opko

Health,

Inc

12,382

17,854

\*

OraSure

Technologies,

Inc

77,843

5,698

\*

Orthofix

Medical

Inc

91,510

\*

Penumbra,

Inc

11,831

3,621

\*

PetIQ,

Inc

29,765

586

\*

RadNet,

Inc

11,204

6,489

Resmed,

Inc

1,451,524

5,277

\*

Shockwave

Medical

Inc

1,546,953

2,949

\*

Staar

Surgical

Co

208,996

\*

Tactile

Systems

Technology,

Inc

2,738

5,940

\*

Zimvie,

Inc

52,094

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

68,401,657

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

1.9%

80,172

Colgate-Palmolive

Co

5,919,900

1,875

Kimberly-Clark

Corp

233,363

102,063

Procter

&

Gamble

Co

13,744,824

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

19,898,087

INSURANCE

-

4.1%

57,909

Aflac,

Inc

3,770,455

5,460

Allstate

Corp

689,325

30,896

Arthur

J. Gallagher

&

Co

5,780,024

36,696

Chubb

Ltd

7,885,603

33,673

\*

Genworth

Financial,

Inc

(Class

A)

157,253

4,760

Lincoln

National

Corp

256,421

48,935

Loews

Corp

2,790,274

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

45,283

Marsh

&

McLennan

Cos,

Inc

$

7,312,752

54,568

Progressive

Corp

7,006,531

57,650

Prudential

Financial,

Inc

6,064,203

11,412

Travelers

Cos,

Inc

2,105,058

Willis

Towers

Watson

plc

65,463

TOTAL

INSURANCE

43,883,362

MATERIALS

-

2.6%

67,071

Ball

Corp

3,312,637

4,887

\*

Clearwater

Paper

Corp

217,374

34,438

\*

Coeur

Mining,

Inc

130,175

16,584

Commercial

Metals

Co

754,572

Compass

Minerals

International,

Inc

3,203

38,703

Ecolab,

Inc

6,079,080

44,407

Graphic

Packaging

Holding

Co

1,019,585

Innospec,

Inc

3,400

6,388

International

Flavors

&

Fragrances,

Inc

623,533

3,928

Koppers

Holdings,

Inc

98,043

4,790

Materion

Corp

410,551

90,600

Mosaic

Co

4,869,750

3,959

Myers

Industries,

Inc

80,328

84,958

Newmont

Goldcorp

Corp

3,595,422

6,517

PPG

Industries,

Inc

744,111

4,169

Reliance

Steel

&

Aluminum

Co

839,970

4,880

Ryerson

Holding

Corp

163,724

2,888

Schnitzer

Steel

Industries,

Inc

(Class

A)

77,947

3,886

Scotts

Miracle-Gro

Co

(Class

A)

178,406

51,393

Steel

Dynamics,

Inc

4,833,511

10,324

Trinseo

plc

194,298

TOTAL

MATERIALS

28,229,620

MEDIA

&

ENTERTAINMENT

-

4.0%

5,481

\*

Cardlytics,

Inc

51,686

4,181

\*

Cinemark

Holdings,

Inc

44,361

269,910

Comcast

Corp

(Class

A)

8,566,943

38,397

Electronic

Arts,

Inc

4,836,486

42,366

\*

Gannett

Co,

Inc

61,431

29,498

\*

Netflix,

Inc

8,609,876

99,449

\*

Pinterest,

Inc

2,446,445

4,197

\*

Roku,

Inc

233,101

13,672

\*

Take-Two

Interactive

Software,

Inc

1,619,859

29,331

\*

TripAdvisor,

Inc

692,798

40,872

\*

Vimeo,

Inc

155,314

97,190

\*

Walt

Disney

Co

10,354,623

69,536

\*

Warner

Bros

Discovery,

Inc

903,968

20,235

\*

Yelp,

Inc

777,226

22,813

\*

ZipRecruiter,

Inc

382,574

81,361

\*

ZoomInfo

Technologies,

Inc

3,623,005

TOTAL

MEDIA

&

ENTERTAINMENT

43,359,696

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

9.0%

7,453

\*

Aerie

Pharmaceuticals,

Inc

113,435

22,005

Agilent

Technologies,

Inc

3,044,392

34,268

Amgen,

Inc

9,264,354

12,823

\*

Atea

Pharmaceuticals,

Inc

76,938

126,425

Bristol-Myers

Squibb

Co

9,794,145

24,773

\*

Chimerix,

Inc

43,848

35,529

Danaher

Corp

8,941,583

37,439

Eli

Lilly

&

Co

13,556,288

71,560

Gilead

Sciences,

Inc

5,614,598

10,958

\*

Illumina,

Inc

2,507,410

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

1,896

\*

IQVIA

Holdings,

Inc

$

397,534

16,507

\*

Karyopharm

Therapeutics,

Inc

78,573

5,337

\*

MacroGenics,

Inc

27,325

120,841

Merck

&

Co,

Inc

12,229,109

10,477

\*,e

Provention

Bio,

Inc

72,710

\*,e

Reata

Pharmaceuticals,

Inc

13,427

9,303

\*

Regeneron

Pharmaceuticals,

Inc

6,965,621

2,210

\*

Revance

Therapeutics,

Inc

49,305

7,138

\*

Sangamo

Therapeutics

Inc

31,336

19,907

Thermo

Fisher

Scientific,

Inc

10,231,601

22,167

\*

Vertex

Pharmaceuticals,

Inc

6,916,104

3,424

West

Pharmaceutical

Services,

Inc

787,862

38,502

Zoetis,

Inc

5,805,332

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

96,562,830

REAL

ESTATE

-

3.3%

36,346

American

Tower

Corp

7,530,528

5,091

Boston

Properties,

Inc

370,116

41,029

\*

CBRE

Group,

Inc

2,910,597

11,949

City

Office

REIT,

Inc

126,898

40,039

Crown

Castle

International

Corp

5,335,597

24,207

DiamondRock

Hospitality

Co

226,093

11,972

Empire

State

Realty

Trust,

Inc

88,234

10,594

Equinix,

Inc

6,000,865

21,280

Franklin

Street

Properties

Corp

61,286

2,503

\*

Howard

Hughes

Corp

153,559

973

Hudson

Pacific

Properties

10,742

6,811

Iron

Mountain,

Inc

341,027

22,106

Macerich

Co

246,040

32,490

Paramount

Group,

Inc

210,210

33,468

Park

Hotels

&

Resorts,

Inc

437,761

3,043

PotlatchDeltic

Corp

135,383

69,047

Prologis,

Inc

7,646,955

18,005

\*

Realogy

Holdings

Corp

133,777

3,682

SL

Green

Realty

Corp

146,102

17,766

Sunstone

Hotel

Investors,

Inc

198,091

4,386

\*

Tejon

Ranch

Co

74,299

3,285

Ventas,

Inc

128,542

40,242

Welltower,

Inc

2,456,372

13,732

Xenia

Hotels

&

Resorts,

Inc

234,543

TOTAL

REAL

ESTATE

35,203,617

RETAILING

-

4.0%

6,440

\*

1-800-FLOWERS.COM,

Inc

(Class

A)

46,948

11,645

Academy

Sports

&

Outdoors,

Inc

512,729

140,395

eBay,

Inc

5,593,337

3,743

Hibbett

Sports,

Inc

233,638

44,851

Home

Depot,

Inc

13,281,727

2,594

\*

Lands'

End,

Inc

27,185

6,255

\*

Liquidity

Services,

Inc

107,461

LKQ

Corp

612

41,709

Lowe's

Companies,

Inc

8,131,169

20,066

Macy's,

Inc

418,376

546

Murphy

USA,

Inc

171,722

18,211

\*

Quotient

Technology,

Inc

44,799

43,725

Target

Corp

7,181,831

60,502

TJX

Companies,

Inc

4,362,194

1,951

\*

TravelCenters

of

America,

Inc

124,045

19,030

Williams-Sonoma,

Inc

2,356,485

Winmark

Corp

26,171

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

\*

Zumiez,

Inc

$

6,931

TOTAL

RETAILING

42,627,360

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

4.8%

73,938

Applied

Materials,

Inc

6,527,986

5,538

\*

Cirrus

Logic,

Inc

371,710

13,140

\*

First

Solar,

Inc

1,912,790

287,746

Intel

Corp

8,180,619

13,468

Lam

Research

Corp

5,451,577

104,424

NVIDIA

Corp

14,094,107

82,616

\*

ON

Semiconductor

Corp

5,075,101

10,812

\*

Rambus,

Inc

326,090

1,540

\*

Silicon

Laboratories,

Inc

176,977

54,897

Texas

Instruments,

Inc

8,818,105

1,125

Universal

Display

Corp

107,122

4,925

\*

Wolfspeed,

Inc

387,844

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

51,430,028

SOFTWARE

&

SERVICES

-

17.0%

36,138

Accenture

plc

10,259,578

27,492

\*

Adobe,

Inc

8,756,202

7,964

\*

Ansys,

Inc

1,761,318

24,328

\*

Autodesk,

Inc

5,213,490

32,367

Automatic

Data

Processing,

Inc

7,823,104

6,757

\*

Benefitfocus,

Inc

47,637

36,498

\*

Cadence

Design

Systems,

Inc

5,525,432

11,181

Concentrix

Corp

1,366,654

9,357

CSG

Systems

International,

Inc

605,117

68,918

\*

DXC

Technology

Co

1,981,393

\*

Elastic

NV

21,104

9,187

\*

ExlService

Holdings,

Inc

1,670,656

79,577

Fidelity

National

Information

Services,

Inc

6,604,095

63,682

International

Business

Machines

Corp

8,806,584

19,662

Intuit,

Inc

8,405,505

39,988

Mastercard,

Inc

(Class

A)

13,123,262

224,183

d

Microsoft

Corp

52,039,600

32,425

\*

Okta,

Inc

1,819,691

3,687

\*

OneSpan,

Inc

40,520

86,142

\*

PayPal

Holdings,

Inc

7,199,748

9,755

\*

Perficient,

Inc

653,292

2,252

Roper

Technologies,

Inc

933,544

58,257

\*

Salesforce,

Inc

9,472,006

16,419

\*

ServiceNow,

Inc

6,908,130

19,766

\*

Synopsys,

Inc

5,782,543

2,488

TTEC

Holdings,

Inc

110,641

28,135

\*

VeriSign,

Inc

5,639,942

27,056

VMware,

Inc

(Class

A)

3,044,612

55,305

Western

Union

Co

747,171

13,008

\*

WEX,

Inc

2,135,133

26,094

\*

Workday,

Inc

4,065,967

TOTAL

SOFTWARE

&

SERVICES

182,563,671

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

4.9%

28,112

Avnet,

Inc

1,129,821

8,425

Badger

Meter,

Inc

947,644

10,055

Benchmark

Electronics,

Inc

285,461

9,562

\*

Ciena

Corp

458,020

233,148

Cisco

Systems,

Inc

10,591,914

47,640

Cognex

Corp

2,202,397

9,052

CTS

Corp

357,735

6,932

\*

ePlus,

Inc

337,727

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

10,632

\*

Fabrinet

$

1,216,301

5,222

\*

FARO

Technologies,

Inc

152,535

389,211

Hewlett

Packard

Enterprise

Co

5,554,041

220,622

HP,

Inc

6,093,580

8,966

\*

Insight

Enterprises,

Inc

847,377

34,389

\*

Keysight

Technologies,

Inc

5,988,844

5,371

\*

Kimball

Electronics,

Inc

111,019

25,579

\*

Knowles

Corp

351,711

\*

Lumentum

Holdings,

Inc

12,805

600

Methode

Electronics,

Inc

24,738

47,269

\*,e

Microvision,

Inc

173,004

531

Motorola

Solutions,

Inc

132,596

24,331

National

Instruments

Corp

928,958

4,734

\*

OSI

Systems,

Inc

389,040

7,569

\*,e

PAR

Technology

Corp

217,836

7,905

\*

Plexus

Corp

777,852

21,532

\*

Ribbon

Communications,

Inc

57,060

5,484

\*

Rogers

Corp

1,290,550

12,241

SYNNEX

Corp

1,120,174

74,821

\*

Trimble

Inc

4,501,231

30,181

\*

TTM

Technologies,

Inc

462,071

2,890

\*

Vishay

Precision

Group,

Inc

97,537

46,607

Vontier

Corp

890,194

34,198

Xerox

Holdings

Corp

500,317

15,387

\*

Zebra

Technologies

Corp

(Class

A)

4,357,906

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

52,559,996

TELECOMMUNICATION

SERVICES

-

0.9%

6,905

\*

Bandwidth

Inc

81,962

21,856

\*

Consolidated

Communications

Holdings,

Inc

112,996

238,708

Verizon

Communications,

Inc

8,920,518

TOTAL

TELECOMMUNICATION

SERVICES

9,115,476

TRANSPORTATION

-

1.5%

4,518

CH

Robinson

Worldwide,

Inc

441,499

231,889

CSX

Corp

6,738,694

27,646

Expeditors

International

of

Washington,

Inc

2,705,161

10,134

\*

GXO

Logistics,

Inc

370,297

20,060

Old

Dominion

Freight

Line

5,508,476

8,212

Ryder

System,

Inc

661,148

TOTAL

TRANSPORTATION

16,425,275

UTILITIES

-

2.1%

23,616

Clearway

Energy,

Inc

(Class

C)

820,420

64,587

Consolidated

Edison,

Inc

5,681,073

67,495

Eversource

Energy

5,148,519

7,098

ONE

Gas,

Inc

549,953

40,175

Sempra

Energy

6,064,014

19,954

Southwest

Gas

Holdings

Inc

1,458,039

28,346

\*,e

Sunnova

Energy

International,

Inc

525,535

61,559

UGI

Corp

2,174,879

TOTAL

UTILITIES

22,422,432

TOTAL

COMMON

STOCKS

1,064,398,939

(Cost

$1,034,810,545)

Portfolio

of

investments

Social

Choice

Low

Carbon

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

0.8%

REPURCHASE

AGREEMENT

-

0.7%

$

7,710,000

r

Fixed

Income

Clearing

Corp

(FICC)

3.000 %

11/01/22

$

7,710,000

TOTAL

REPURCHASE

AGREEMENT

7,710,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

0.1%

550,934

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

3.120 550,934

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

550,934

TOTAL

SHORT-TERM

INVESTMENTS

8,260,934

(Cost

$8,260,934)

TOTAL

INVESTMENTS

-

100.1%

1,072,659,873

(Cost

$1,043,071,479)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(904,194)

NET

ASSETS

-

100.0%

$

1,071,755,679

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

d

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$780,701.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$7,710,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.000%

and

maturity

date

2/15/25,

valued

at

$7,864,226.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

S&P

500

E

Mini

Index

12/16/22

$

7,661,420

$

7,960,150

$

298,730

Emerging

Markets

Equity

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

VALUE

COMMON

STOCKS

-

88.7%

BRAZIL

-

.3

%

17,881,402

Americanas

S.A.

$

53,794,790

7,025,472

a

Arcos

Dorados

Holdings,

Inc

52,972,059

3,579,000

Cia

Brasileira

de

Distribuicao

15,277,698

6,121,100

\*

Embraer

S.A.

16,293,703

16,048

\*

MercadoLibre,

Inc

14,469,198

3,136,066

\*

Pagseguro

Digital

Ltd

42,901,383

6,936,500

Petroleo

Brasileiro

S.A.

(Preference)

40,030,407

1,308,647

\*

StoneCo

Ltd

13,740,793

5,382,500

Ultrapar

Participacoes

S.A.

13,973,347

1,835,600

Vale

S.A.

23,855,160

TOTAL

BRAZIL

287,308,538

CHINA

-

.8

%

6,185,308

\*

Alibaba

Group

Holding

Ltd

48,090,192

4,657,608

\*

Baidu,

Inc

44,652,464

922,773

\*

Baozun,

Inc

(ADR)

3,635,726

425,000

BYD

Co

Ltd

(H

shares)

9,521,330

2,882,000

China

Merchants

Bank

Co

Ltd

9,435,379

3,853,327

\*

HUYA,

Inc

(ADR)

7,205,722

2,745,513

\*

iClick

Interactive

Asia

Group

Ltd

(ADR)

613,622

2,815,571

Ping

An

Insurance

Group

Co

of

China

Ltd

(Class

A)

13,979,494

2,636,476

Tencent

Holdings

Ltd

69,278,081

3,774,766

\*

Vipshop

Holdings

Ltd

(ADR)

26,310,119

TOTAL

CHINA

232,722,129

COLOMBIA

-

.7

%

433,791

BanColombia

S.A.

(ADR)

11,005,278

TOTAL

COLOMBIA

11,005,278

HONG

KONG

-

.7

%

449,400

Hong

Kong

Exchanges

and

Clearing

Ltd

11,928,693

2,552,175

\*

Melco

Crown

Entertainment

Ltd

(ADR)

13,960,397

22,290

\*,†

Mongolian

Metals

Corporation

TOTAL

HONG

KONG

25,889,090

INDIA

-

.5

%

22,956,912

Edelweiss

Capital

Ltd

16,065,033

519,353

HDFC

Bank

Ltd

(ADR)

32,360,885

1,697,580

Housing

Development

Finance

Corp

50,755,537

1,897,777

Life

Insurance

Corp

of

India

13,841,513

2,361,933

Piramal

Healthcare

Ltd

24,273,109

6,790,115

\*

Piramal

Pharma

Ltd

13,526,501

9,060,118

\*,g

RBL

Bank

Ltd

14,803,533

2,009,840

Reliance

Industries

Ltd

62,017,149

TOTAL

INDIA

227,643,260

INDONESIA

-

.3

%

55,274,400

Astra

International

Tbk

PT

23,620,440

5,735,000

PT

United

Tractors

Tbk

11,863,052

TOTAL

INDONESIA

35,483,492

KOREA,

REPUBLIC

OF

-

.3

%

318,817

Hynix

Semiconductor,

Inc

18,456,797

712,539

KB

Financial

Group,

Inc

23,976,272

127,548

LG

Electronics,

Inc

7,285,571

153,250

Naver

Corp

18,178,244

1,305,429

Samsung

Electronics

Co

Ltd

54,331,725

Portfolio

of

investments

Emerging

Markets

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

KOREA,

REPUBLIC

OF—continued

46,533

Samsung

SDI

Co

Ltd

$

24,007,073

TOTAL

KOREA,

REPUBLIC

OF

146,235,682

MACAU

-

.8

%

32,515,700

\*,e

Wynn

Macau

Ltd

12,962,558

TOTAL

MACAU

12,962,558

MEXICO

-

.3

%

23,593,400

America

Movil

S.A.B.

de

C.V.

22,327,576

713,615

Fomento

Economico

Mexicano

SAB

de

C.V.

(ADR)

51,109,106

1,774,400

Grupo

Financiero

Banorte

S.A.

de

C.V.

14,423,213

3,269,438

Grupo

Televisa

SAB

(ADR)

17,164,550

1,051,790

\*,e

Sitios

Latinoamerica

SAB

de

C.V.

306,836

2,592,700

Wal-Mart

de

Mexico

SAB

de

C.V.

10,014,603

TOTAL

MEXICO

115,345,884

PERU

-

.1

%

230,497

Credicorp

Ltd

33,735,541

TOTAL

PERU

33,735,541

SAUDI

ARABIA

-

.8

%

1,406,272

g

Saudi

Arabian

Oil

Co

13,050,932

TOTAL

SAUDI

ARABIA

13,050,932

SINGAPORE

-

.1

%

2,138,513

\*

Grab

Holdings

Ltd

5,560,134

722,668

\*

Grab

Holdings

Ltd.

1,878,937

183,622

\*

Sea

Ltd

(ADR)

9,122,341

TOTAL

SINGAPORE

16,561,412

SOUTH

AFRICA

-

.3

%

3,735,641

FirstRand

Ltd

13,059,729

2,440,385

Standard

Bank

Group

Ltd

22,781,572

TOTAL

SOUTH

AFRICA

35,841,301

TAIWAN

-

.8

%

9,613,000

Hon

Hai

Precision

Industry

Co,

Ltd

30,531,623

2,426,000

MediaTek,

Inc

44,221,599

9,263,400

Taiwan

Semiconductor

Manufacturing

Co

Ltd

111,366,476

TOTAL

TAIWAN

186,119,698

TANZANIA,

UNITED

REPUBLIC

OF

-

.9

%

1,049,893

AngloGold

Ashanti

Ltd

(ADR)

13,701,104

TOTAL

TANZANIA,

UNITED

REPUBLIC

OF

13,701,104

TOTAL

COMMON

STOCKS

1,393,605,899

(Cost

$1,839,294,082)

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

11.1%

GOVERNMENT

AGENCY

DEBT

-

.1

%

$

17,500,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

11/01/22

17,500,000

8,750,000

FHLB

.000

11/02/22

8,749,081

17,750,000

FHLB

.000

11/03/22

17,746,342

10,000,000

FHLB

.000

11/07/22

9,993,818

10,000,000

FHLB

.000

12/16/22

9,951,573

10,150,000

FHLB

.000

12/21/22

10,095,399

Portfolio

of

investments

Emerging

Markets

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

GOVERNMENT

AGENCY

DEBT—continued

$

6,000,000

FHLB

.000

%

11/04/22

$

5,998,145

TOTAL

GOVERNMENT

AGENCY

DEBT

80,034,358

REPURCHASE

AGREEMENT

-

.0

%

94,610,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

94,610,000

TOTAL

REPURCHASE

AGREEMENT

94,610,000

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.0

%

765,300

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

765,300

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

765,300

TOTAL

SHORT-TERM

INVESTMENTS

175,409,658

(Cost

$175,416,705)

TOTAL

INVESTMENTS

-

99.8%

1,569,015,557

(Cost

$2,014,710,787)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.2%

2,833,525

NET

ASSETS

-

100.0%

$

1,571,849,082

ADR

American

Depositary

Receipt

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. a

Affiliated

holding

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$1,869,031.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$94,610,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

4.250%

and

maturity

date

10/15/25,

valued

at

$96,502,234.

Portfolio

of

investments

International

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

VALUE

COMMON

STOCKS

-

91.8%

AUSTRALIA

-

.0

%

3,074,960

BHP

Billiton

Ltd

$

73,861,164

1,738,377

Commonwealth

Bank

of

Australia

116,552,518

14,633,622

Glencore

Xstrata

plc

83,895,560

1,290,887

Rio

Tinto

plc

67,463,846

1,363,205

Woodside

Energy

Group

Ltd

31,515,184

TOTAL

AUSTRALIA

373,288,272

BRAZIL

-

.7

%

13,821,698

Banco

Bradesco

S.A.

(Preference)

53,140,823

9,483,600

Itau

Unibanco

Holding

S.A.

55,812,882

TOTAL

BRAZIL

108,953,705

DENMARK

-

.3

%

601,478

DSV

AS

81,276,662

TOTAL

DENMARK

81,276,662

FINLAND

-

.2

%

8,126,666

Nordea

Bank

Abp

77,664,188

TOTAL

FINLAND

77,664,188

FRANCE

-

.5

%

1,562,194

Airbus

SE

169,035,188

1,910,512

Compagnie

de

Saint-Gobain

78,103,507

678,390

Essilor

International

S.A.

107,272,556

167,462

Kering

76,691,042

2,260,419

Total

S.A.

123,313,430

569,521

Valeo

S.A.

9,381,704

799,622

Vinci

S.A.

73,594,767

2,463,065

Vivendi

Universal

S.A.

20,160,122

TOTAL

FRANCE

657,552,316

GERMANY

-

.7

%

315,661

Adidas-Salomon

AG.

30,813,268

3,030,994

Bayer

AG.

159,372,779

1,569,708

Deutsche

Post

AG.

55,488,840

183,742

\*

Dr

ING

hc

F

Porsche

AG.

18,793,838

926,512

HeidelbergCement

AG.

42,607,302

2,046,304

RWE

AG.

78,772,748

895,305

Siemens

AG.

97,775,327

458,437

Volkswagen

AG.

(Preference)

58,680,550

TOTAL

GERMANY

542,304,652

HONG

KONG

-

.6

%

1,535,024

Hong

Kong

Exchanges

and

Clearing

Ltd

40,745,060

TOTAL

HONG

KONG

40,745,060

IRELAND

-

.5

%

2,612,604

CRH

plc

94,100,303

TOTAL

IRELAND

94,100,303

ITALY

-

.7

%

8,138,215

Enel

S.p.A.

36,356,232

1,594,759

Moncler

S.p.A

68,804,607

TOTAL

ITALY

105,160,839

JAPAN

-

.7

%

5,546,000

Daiichi

Sankyo

Co

Ltd

177,531,675

481,616

Daikin

Industries

Ltd

72,139,903

3,347,979

\*

Hitachi

Ltd

151,910,560

Portfolio

of

investments

International

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

175,700

Keyence

Corp

$

66,250,328

2,346,080

Nintendo

Co

Ltd

95,248,719

3,549,200

ORIX

Corp

52,129,552

2,621,000

Recruit

Holdings

Co

Ltd

80,651,227

2,690,500

SBI

Holdings,

Inc

48,601,347

1,227,000

Shiseido

Co

Ltd

42,377,144

2,192,059

Sony

Corp

147,820,697

2,805,400

Sumitomo

Mitsui

Financial

Group,

Inc

78,780,003

11,231,445

Toyota

Motor

Corp

155,831,798

TOTAL

JAPAN

1,169,272,953

KOREA,

REPUBLIC

OF

-

.7

%

98,444

LG

Chem

Ltd

43,201,022

TOTAL

KOREA,

REPUBLIC

OF

43,201,022

NETHERLANDS

-

.0

%

227,049

ASML

Holding

NV

106,505,643

921,513

Heineken

NV

76,977,843

8,577,570

ING

Groep

NV

84,399,732

23,929,768

Koninklijke

KPN

NV

66,934,084

8,770,848

Shell

plc

242,966,386

2,344,698

e

Universal

Music

Group

NV

46,039,195

TOTAL

NETHERLANDS

623,822,883

NORWAY

-

.0

%

3,419,757

Equinor

ASA

124,594,465

TOTAL

NORWAY

124,594,465

SPAIN

-

.2

%

15,232,266

Banco

Bilbao

Vizcaya

Argentaria

S.A.

78,580,031

TOTAL

SPAIN

78,580,031

SWITZERLAND

-

.9

%

147,450

Lonza

Group

AG.

75,904,886

1,779,669

Novartis

AG.

143,958,686

207,895

Zurich

Insurance

Group

AG

88,599,418

TOTAL

SWITZERLAND

308,462,990

TAIWAN

-

.6

%

606,338

Taiwan

Semiconductor

Manufacturing

Co

Ltd

(ADR)

37,320,104

TOTAL

TAIWAN

37,320,104

UNITED

KINGDOM

-

.8

%

1,704,461

Ashtead

Group

plc

88,790,522

1,938,209

AstraZeneca

plc

227,414,167

9,189,507

BP

plc

50,841,878

1,940,691

British

American

Tobacco

plc

76,644,577

3,945,480

Diageo

plc

162,366,213

25,639,732

\*

Haleon

plc

78,622,989

442,736

Linde

plc

(Xetra)

132,191,687

1,510,680

Reckitt

Benckiser

Group

plc

100,254,702

7,216,398

Tesco

plc

17,823,640

1,212,332

Unilever

plc

55,105,750

TOTAL

UNITED

KINGDOM

990,056,125

UNITED

STATES

-

.7

%

3,634,916

GSK

plc

59,543,847

709,613

Nestle

S.A.

77,247,621

Portfolio

of

investments

International

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

SHARES

COMPANY

VALUE

UNITED

STATES—continued

468,818

Roche

Holding

AG.

$

155,552,931

TOTAL

UNITED

STATES

292,344,399

TOTAL

COMMON

STOCKS

5,748,700,969

(Cost

$5,870,304,349)

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

7.5%

GOVERNMENT

AGENCY

DEBT

-

.1

%

$

35,000,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

11/01/22

35,000,000

8,750,000

FHLB

.000

11/02/22

8,749,081

57,000,000

FHLB

.000

11/03/22

56,988,252

10,000,000

FHLB

.000

11/07/22

9,993,818

10,000,000

FHLB

.000

12/15/22

9,952,646

25,000,000

FHLB

.000

12/16/22

24,878,932

35,150,000

FHLB

.000

12/21/22

34,960,915

10,000,000

FHLB

.000

12/28/22

9,938,698

11,594,000

FHLB

.000

12/30/22

11,520,441

15,000,000

FHLB

.000

01/13/23

14,877,408

20,000,000

FHLB

.000

01/18/23

19,825,397

12,500,000

Federal

Home

Loan

Bank

(FHLB)

.000

12/29/22

12,422,033

6,000,000

FHLMC

.000

11/04/22

5,998,145

TOTAL

GOVERNMENT

AGENCY

DEBT

255,105,766

REPURCHASE

AGREEMENT

-

.4

%

212,535,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

212,535,000

TOTAL

REPURCHASE

AGREEMENT

212,535,000

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.0

%

92,693

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

92,693

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

92,693

TOTAL

SHORT-TERM

INVESTMENTS

467,733,459

(Cost

$467,802,559)

TOTAL

INVESTMENTS

-

99.3%

6,216,434,428

(Cost

$6,338,106,908)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.7%

41,746,235

NET

ASSETS

-

100.0%

$

6,258,180,663

ADR

American

Depositary

Receipt

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$486,506.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$212,535,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rates

2.625%–2.750%

and

maturity

dates

4/15/25–5/15/25,

valued

at

$216,785,784.

International

Opportunities

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

VALUE

COMMON

STOCKS

-

93.3%

AUSTRALIA

-

.9

%

1,903,584

Australia

&

New

Zealand

Banking

Group

Ltd

$

31,187,822

238,314

\*

Flutter

Entertainment

plc

31,586,428

1,246,106

e

IDP

Education

Ltd

23,510,019

551,627

Mineral

Resources

Ltd

25,861,254

4,272,409

\*,e

PointsBet

Holdings

Ltd

5,560,840

TOTAL

AUSTRALIA

117,706,363

BRAZIL

-

.6

%

4,678,524

Banco

BTG

Pactual

S.A.

-

Unit

26,211,690

4,914,300

Itau

Unibanco

Holding

S.A.

28,921,638

1,896,500

Localiza

Rent

A

Car

25,898,579

19,850,800

\*

Magazine

Luiza

S.A.

17,178,022

3,544,785

\*

NU

Holdings

Ltd

17,723,925

1,519,259

\*

Pagseguro

Digital

Ltd

20,783,463

1,685,900

Vale

S.A.

21,909,683

TOTAL

BRAZIL

158,627,000

CANADA

-

.1

%

1,155,286

Alimentation

Couche-Tard,

Inc

51,728,591

498,338

e

Bank

of

Montreal

45,903,355

1,284,206

Cameco

Corp

30,456,708

821,941

Dollarama,

Inc

48,839,229

1,240,775

\*,e

Lightspeed

Commerce,

Inc

23,779,965

512,736

Nutrien

Ltd

43,322,965

954,096

\*

Shopify,

Inc

(Class

A)

32,712,463

1,044,808

Suncor

Energy,

Inc

35,937,683

TOTAL

CANADA

312,680,959

CHINA

-

.2

%

1,264,407

e

JD.com,

Inc

23,025,497

922,400

Silergy

Corp

10,636,830

703,300

Tencent

Holdings

Ltd

18,480,454

TOTAL

CHINA

52,142,781

DENMARK

-

.8

%

220,935

Carlsberg

AS

(Class

B)

26,014,123

606,027

Novo

Nordisk

AS

65,894,073

TOTAL

DENMARK

91,908,196

FRANCE

-

.9

%

234,096

Essilor

International

S.A.

37,017,168

105,028

L'Oreal

S.A.

32,979,230

174,500

Teleperformance

46,753,755

TOTAL

FRANCE

116,750,153

GERMANY

-

.2

%

548,202

Bayer

AG.

28,825,025

246,077

Beiersdorf

AG.

23,622,205

186,424

Deutsche

Boerse

AG.

30,316,203

275,800

\*

Dr

ING

hc

F

Porsche

AG.

28,209,885

671,676

\*

HelloFresh

SE

13,426,241

TOTAL

GERMANY

124,399,559

INDIA

-

.9

%

509,472

MindTree

Ltd

20,951,733

TOTAL

INDIA

20,951,733

Portfolio

of

investments

International

Opportunities

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

INDONESIA

-

.1

%

85,976,300

Bank

Rakyat

Indonesia

$

25,649,575

TOTAL

INDONESIA

25,649,575

IRELAND

-

.7

%

787,680

CRH

plc

28,370,517

404,143

e

Keywords

Studios

plc

11,175,794

739,354

Smurfit

Kappa

Group

plc

24,474,794

TOTAL

IRELAND

64,021,105

ITALY

-

.3

%

791,372

Amplifon

S.p.A.

19,660,808

2,604,344

Davide

Campari-Milano

NV

23,387,845

168,795

Ferrari

NV

33,275,954

598,500

Moncler

S.p.A

25,821,806

TOTAL

ITALY

102,146,413

JAPAN

-

.4

%

787,000

BayCurrent

Consulting,

Inc

22,080,999

986,500

Benefit

One,

Inc

13,647,363

260,200

GMO

Payment

Gateway,

Inc

18,709,897

1,416,100

MonotaRO

Co

Ltd

21,496,188

295,900

Murata

Manufacturing

Co

Ltd

14,007,733

2,336,300

Nikon

Corp

22,594,663

303,100

Paltac

Corp

8,609,803

946,100

Recruit

Holdings

Co

Ltd

29,112,600

182,399

\*

SHIFT,

Inc

28,480,596

874,300

SMS

Co

Ltd

20,057,188

1,039,500

TechnoPro

Holdings,

Inc

24,937,967

TOTAL

JAPAN

223,734,997

NETHERLANDS

-

.1

%

20,253

\*,g

Adyen

NV

28,913,158

107,813

ASML

Holding

NV

50,573,634

4,392,227

ING

Groep

NV

43,217,692

TOTAL

NETHERLANDS

122,704,484

NORWAY

-

.4

%

1,186,930

e

Aker

BP

ASA

37,704,432

1,165,043

Equinor

ASA

42,446,849

TOTAL

NORWAY

80,151,281

PHILIPPINES

-

.9

%

7,172,404

BDO

Unibank,

Inc

15,853,774

6,009,020

Robinsons

Retail

Holdings,

Inc

5,576,073

TOTAL

PHILIPPINES

21,429,847

PORTUGAL

-

.2

%

1,448,603

Jeronimo

Martins

SGPS

S.A.

29,975,952

TOTAL

PORTUGAL

29,975,952

SINGAPORE

-

.1

%

980,069

\*

Grab

Holdings

Ltd.

2,548,179

TOTAL

SINGAPORE

2,548,179

SPAIN

-

.2

%

555,120

\*

Amadeus

IT

Holding

S.A.

28,952,429

142,139

\*,†,e

Let's

GOWEX

S.A.

1,405

TOTAL

SPAIN

28,953,834

SWEDEN

-

.0

%

191,348

g

Evolution

Gaming

Group

AB

17,849,453

Portfolio

of

investments

International

Opportunities

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

SWEDEN—continued

2,527,722

Hexagon

AB

$

24,988,775

819,983

Intrum

Justitia

AB

10,317,184

4,117,176

Swedish

Match

AB

42,344,697

TOTAL

SWEDEN

95,500,109

SWITZERLAND

-

.4

%

7,555

Givaudan

S.A.

22,566,327

66,488

Lonza

Group

AG.

34,226,952

TOTAL

SWITZERLAND

56,793,279

TAIWAN

-

.5

%

1,197,540

Dadi

Early-Childhood

Education

Group

Ltd

2,970,266

938,000

Eclat

Textile

Co

Ltd

12,309,103

2,700,349

Hota

Industrial

Manufacturing

Co

Ltd

6,245,682

2,597,000

\*

Taiwan

Semiconductor

Manufacturing

Co

Ltd

31,221,662

105,407

\*

Taiwan

Semiconductor

Manufacturing

Co

Ltd

(ADR)

6,487,801

TOTAL

TAIWAN

59,234,514

UNITED

KINGDOM

-

.1

%

1,109,005

Ashtead

Group

plc

57,771,420

4,091,064

Beazley

plc

29,340,334

719,822

Compass

Group

plc

15,160,758

5,803,058

\*,e

Darktrace

plc

23,753,046

431,669

Dechra

Pharmaceuticals

plc

12,976,942

2,297,796

Electrocomponents

plc

25,283,606

793,937

e

Fevertree

Drinks

plc

8,679,054

96,405

Linde

plc

(Xetra)

28,784,512

9,223,210

Tritax

Big

Box

REIT

plc

14,830,391

TOTAL

UNITED

KINGDOM

216,580,063

UNITED

STATES

-

.3

%

254,340

Ferguson

plc

27,737,982

96,780

\*

Lululemon

Athletica,

Inc

31,844,492

128,319

Roche

Holding

AG.

42,576,003

TOTAL

UNITED

STATES

102,158,477

TOTAL

COMMON

STOCKS

2,226,748,853

(Cost

$2,056,244,385)

REFERENCERATE

&

SPREAD

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

AUSTRALIA

-

.0

%

211,504

e

PointsBet

Holdings

Ltd

07/08/24

TOTAL

AUSTRALIA

TOTAL

RIGHTS/WARRANTS

(Cost

$0)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

7.4%

GOVERNMENT

AGENCY

DEBT

-

.9

%

$

20,000,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

11/01/22

20,000,000

12,750,000

FHLB

.000

11/03/22

12,747,372

10,000,000

FHLB

.000

11/07/22

9,993,818

10,000,000

FHLB

.000

12/16/22

9,951,573

10,150,000

FHLB

.000

12/21/22

10,095,399

Portfolio

of

investments

International

Opportunities

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

GOVERNMENT

AGENCY

DEBT—continued

$

6,000,000

FHLB

.000

%

11/04/22

$

5,998,145

TOTAL

GOVERNMENT

AGENCY

DEBT

68,786,307

REPURCHASE

AGREEMENT

-

.8

%

42,570,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

42,570,000

TOTAL

REPURCHASE

AGREEMENT

42,570,000

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.7

%

63,841,720

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

63,841,720

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

63,841,720

TOTAL

SHORT-TERM

INVESTMENTS

175,198,027

(Cost

$175,204,682)

TOTAL

INVESTMENTS

-

100.7%

2,401,946,880

(Cost

$2,231,449,067)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.7)%

(16,410,539)

NET

ASSETS

-

100.0%

$

2,385,536,341

ADR

American

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$89,537,295.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$42,570,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.000%

and

maturity

date

2/15/25,

valued

at

$43,421,417.

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

SHARES

COMPANY

VALUE

COMMON

STOCKS

-

99.5%

AUSTRALIA

-

.7

%

1,409,717

Abacus

Property

Group

$

2,527,217

333,136

AUB

Group

Ltd

4,407,909

1,123,081

e

Bank

of

Queensland

Ltd

(ASE)

5,288,906

4,957,831

Beach

Petroleum

Ltd

5,069,682

171,460

Centuria

Capital

Group

184,760

1,562,450

Centuria

Industrial

REIT

3,036,388

1,088,192

Centuria

Office

REIT

1,048,251

708,557

Charter

Hall

Education

Trust

1,573,475

2,111,565

Charter

Hall

Long

Wale

REIT

5,887,708

4,562,091

g

Coronado

Global

Resources,

Inc

5,443,171

23,717

Futuris

Corp

Ltd

197,736

320,917

Growthpoint

Properties

Australia

Ltd

683,172

198,877

Home

Consortium

608,014

1,159,908

HomeCo

Daily

Needs

REIT

949,118

927,338

Iluka

Resources

Ltd

5,137,944

2,842,265

Incitec

Pivot

Ltd

6,835,506

94,617

Independence

Group

NL

925,349

5,003,677

\*

ioneer

Ltd

1,773,303

1,580,869

Macquarie

CountryWide

Trust

4,070,668

223,904

Monadelphous

Group

Ltd

1,957,416

1,428,732

Nufarm

Ltd

5,091,824

1,965,369

Perenti

Global

Ltd

1,204,450

4,440,179

Perseus

Mining

Ltd

5,171,475

3,516,429

Qube

Logistics

Holdings

Ltd

6,121,941

1,191,677

Shopping

Centres

Australasia

Property

Group

2,075,563

377,582

SmartGroup

Corp

Ltd

1,190,439

970,740

United

Malt

Grp

Ltd

1,931,425

TOTAL

AUSTRALIA

80,392,810

AUSTRIA

-

.7

%

143,678

g

BAWAG

Group

AG.

6,936,170

23,711

Vienna

Insurance

Group

AG

Wiener

Versicherung

Gruppe

530,317

36,400

Wienerberger

AG.

832,061

TOTAL

AUSTRIA

8,298,548

BELGIUM

-

.3

%

128,655

Fagron

NV

1,601,640

19,555

Gimv

NV

834,876

13,984

KBC

Ancora

497,100

9,710

Melexis

NV

667,817

1,411

VAN

DE

Velde

44,521

TOTAL

BELGIUM

3,645,954

BRAZIL

-

.5

%

25,000

\*

3R

PETROLEUM

OLEO

E

GAS

S.A.

225,051

358,300

Blau

Farmaceutica

S.A.

2,346,586

1,118,499

Cia

Brasileira

de

Distribuicao

4,774,543

1,631,200

Cia

de

Saneamento

de

Minas

Gerais-COPASA

4,850,495

247,300

EDP

-

Energias

do

Brasil

S.A.

1,104,484

1,331,200

Enauta

Participacoes

S.A.

3,927,497

2,968,115

\*

Hidrovias

do

Brasil

S.A.

1,620,382

615,200

Jalles

Machado

S.A.

828,921

1,445,100

Metalurgica

Gerdau

S.A.

3,147,299

1,399,690

Odontoprev

S.A.

2,243,623

218,900

Uniao

de

Industrias

Petroquimicas

S.A.

4,525,473

111,925

Wilson

Sons

Holdings

Brasil

S.A.

245,930

TOTAL

BRAZIL

29,840,284

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CANADA

-

.2

%

13,190

AG

Growth

International

Inc

$

337,895

150,908

Atco

Ltd

4,685,586

675,847

\*,e

Baytex

Energy

Trust

3,671,060

72,157

\*,e

BELLUS

Health,

Inc

669,479

174,134

\*

Celestica,

Inc

1,910,892

188,620

e

Corus

Entertainment,

Inc

297,672

147,733

e

Definity

Financial

Corp

4,375,547

94,453

\*

dentalcorp

Holdings

Ltd

526,222

272,924

Enerplus

Corp

4,731,871

311,435

\*,e

Enthusiast

Gaming

Holdings,

Inc

205,741

335,981

Finning

International,

Inc

7,144,544

418,035

e

Freehold

Royalty

Trust

5,201,081

10,738

Granite

REIT

548,743

264,351

H&R

Real

Estate

Investment

Trust

2,175,193

21,904

e

Hardwoods

Distribution,

Inc

402,435

1,119,065

\*

Headwater

Exploration,

Inc

5,930,671

269,587

\*

Interfor

Corp

4,788,788

15,910

g

Jamieson

Wellness,

Inc

389,239

367,990

\*

Kelt

Exploration

Ltd

1,590,972

247,124

Killam

Apartment

Real

Estate

Investment

Trust

2,864,233

8,564

e

Morguard

Corp

703,991

466,342

e

PrairieSky

Royalty

Ltd

7,243,217

63,138

Primaris

REIT

650,219

35,487

Slate

Grocery

REIT

368,845

150,748

\*,e

Solaris

Resources,

Inc

536,667

203,415

e

StorageVault

Canada,

Inc

933,199

619,214

e

Superior

Plus

Corp

4,708,817

358,855

e

Topaz

Energy

Corp

6,068,939

245,200

\*

Torex

Gold

Resources,

Inc

1,670,243

116,997

e

Tourmaline

Oil

Corp

6,592,058

571,519

TransAlta

Corp

5,034,116

447,829

e

TransAlta

Renewables,

Inc

4,809,145

11,667

\*

Trican

Well

Service

Ltd

31,001

452,847

Whitecap

Resources,

Inc

3,510,158

685,354

Yamana

Gold,

Inc

3,008,344

TOTAL

CANADA

98,316,823

CHILE

-

.1

%

17,148,272

Colbun

S.A.

1,685,020

TOTAL

CHILE

1,685,020

CHINA

-

.2

%

141,200

g

AsiaInfo

Technologies

Ltd

168,705

2,946,000

Central

China

Management

Co

Ltd

203,064

5,336,000

China

BlueChemical

Ltd

1,018,531

492,000

China

Shineway

Pharmaceutical

Group

Ltd

295,673

3,287,749

China

XLX

Fertiliser

Ltd

1,254,920

4,565,760

\*,†,e

China

Zhongwang

Holdings

Ltd

5,817

8,786,000

Citic

Resources

Holdings

Ltd

386,040

729,000

Citic

Telecom

International

Holdings

Ltd

215,460

1,830,000

Cofco

International

Ltd

466,355

1,360,000

CSSC

Hong

Kong

Shipping

Co

Ltd

171,209

325,000

Excellence

Commercial

Property

&

Facilities

Management

Group

Ltd

87,847

4,220,000

\*,†,e

Fire

Rock

Holdings

Ltd

225,794

2,582,000

Fu

Shou

Yuan

International

Group

Ltd

1,289,921

10,258,023

Fushan

International

Energy

Group

Ltd

2,778,859

4,692,000

g

Greentown

Management

Holdings

Co

Ltd

2,686,081

674,000

\*

Harbin

Power

Equipment

227,562

848,000

JH

Educational

Technology,

Inc

120,310

288,500

JNBY

Design

Ltd

227,230

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

5,783,500

Shui

On

Land

Ltd

$

530,408

956,000

Sinopec

Engineering

Group

Co

Ltd

341,851

1,670,000

Sinopec

Kantons

Holdings

Ltd

451,000

881,000

TCL

Multimedia

Technology

Holdings

Ltd

336,597

674,000

Tianjin

Port

Development

Holdings

Ltd

40,376

372,440

\*

Tongdao

Liepin

Group

323,995

1,352,000

VST

Holdings

Ltd

650,074

247,400

e,g

Xiabuxiabu

Catering

Management

China

Holdings

Co

Ltd

127,692

TOTAL

CHINA

14,631,371

CZECH

REPUBLIC

-

.0

%

670

Philip

Morris

CR

448,400

TOTAL

CZECH

REPUBLIC

448,400

DENMARK

-

.5

%

7,449

\*

Chemometec

A.S.

702,147

3,179

D/S

Norden

164,529

9,251

Dfds

A.S.

280,740

51,149

\*

Jyske

Bank

2,760,468

74,984

Matas

A.S.

717,674

104,134

\*

NKT

Holding

AS

5,197,035

20,625

PER

Aarsleff

A.S.

576,240

5,628

Solar

Holdings

AS

(B

Shares)

424,427

92,782

Sydbank

AS

2,825,244

86,685

Topdanmark

AS

4,000,782

TOTAL

DENMARK

17,649,286

EGYPT

-

.3

%

2,518,212

Centamin

plc

2,560,000

84,128

Misr

Fertilizers

Production

Co

SAE

394,742

90,147

Telecom

Egypt

68,348

TOTAL

EGYPT

3,023,090

FINLAND

-

.3

%

29,468

\*

F-Secure

Corp

83,288

189,143

Kesko

Oyj

(B

Shares)

3,680,846

25,994

Marimekko

Oyj

234,708

TOTAL

FINLAND

3,998,842

FRANCE

-

.9

%

35,508

Beneteau

S.A.

393,509

34,799

Carmila

S.A.

486,851

2,566,205

\*

CGG

S.A.

2,179,934

175,129

Elis

S.A.

2,005,561

36,682

Eramet

2,403,095

471,165

Etablissements

Maurel

et

Prom

2,117,792

3,999

Neopost

S.A.

56,263

59,463

Nexans

S.A.

5,552,570

309,516

SPIE

S.A.

7,240,675

4,662

Vilmorin

&

Cie

206,579

TOTAL

FRANCE

22,642,829

GEORGIA

-

.0

%

16,702

TBC

Bank

Group

plc

360,858

TOTAL

GEORGIA

360,858

GERMANY

-

.2

%

2,597

Amadeus

Fire

AG

262,107

71,404

\*

CureVac

NV

520,276

15,049

Elmos

Semiconductor

AG.

687,921

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

GERMANY—continued

77,499

ElringKlinger

AG.

$

554,718

28,915

Gerresheimer

AG.

1,656,500

215,592

Hensoldt

AG.

5,065,306

4,749

Hornbach

Holding

AG.

&

Co

KGaA

323,718

143,814

Hugo

Boss

AG.

6,623,692

266,590

K&S

AG.

5,886,038

13,958

KWS

Saat

AG.

810,337

78,318

\*

PVA

TePla

AG.

1,312,274

9,275

Sixt

AG.

(Preference)

540,226

10,233

Steico

SE

449,840

26,431

TAG

Tegernsee

Immobilien

und

Beteiligungs

AG.

165,532

57,298

Wacker

Construction

Equipment

AG.

903,332

TOTAL

GERMANY

25,761,817

GREECE

-

.1

%

37,007

\*

Aegean

Airlines

S.A.

182,848

61,950

Holding

CO

ADMIE

IPTO

S.A.

102,603

58,212

Motor

Oil

Hellas

Corinth

Refineries

S.A.

1,000,490

37,625

Sarantis

S.A.

236,112

TOTAL

GREECE

1,522,053

GUERNSEY,

C.I.

-

.0

%

392,867

BMO

Commercial

Property

Trust

Ltd

376,201

TOTAL

GUERNSEY,

C.I.

376,201

HONG

KONG

-

.1

%

768,600

ASM

Pacific

Technology

4,227,686

10,858,000

\*,e

Beijing

Energy

International

Holding

Co

Ltd

251,751

3,552,500

China

Grand

Pharmaceutical

and

Healthcare

Holdings

Ltd

1,520,096

1,768,000

Digital

China

Holdings

Ltd

700,204

824,200

Far

East

Consortium

185,729

958,000

Hang

Lung

Group

Ltd

1,242,611

968,200

HKBN

Ltd

653,917

8,676,600

Hutchison

Port

Holdings

Trust

1,417,097

189,000

IVD

Medical

Holding

Ltd

49,359

2,414,000

e

LK

Technology

Holdings

Ltd

2,185,431

212,000

Luk

Fook

Holdings

International

Ltd

460,547

856,000

e

Nissin

Foods

Co

Ltd

686,728

TOTAL

HONG

KONG

13,581,156

HUNGARY

-

.0

%

367,609

Magyar

Telekom

263,968

TOTAL

HUNGARY

263,968

INDIA

-

.4

%

30,589

\*

Aditya

Birla

Fashion

and

Retail

Ltd

130,846

1,186,456

\*

Alok

Industries

Ltd

222,509

17,515

Amara

Raja

Batteries

Ltd

108,588

10,299

APL

Apollo

Tubes

Ltd

134,503

47,717

\*

Apollo

Tricoat

Tubes

Ltd

604,259

45,107

Astral

Polytechnik

Ltd

1,107,771

6,403

AstraZeneca

Pharma

India

Ltd

255,231

69,053

Bajaj

Electricals

Ltd

975,264

7,043

Bayer

CropScience

Ltd

398,213

385,899

Bharat

Dynamics

Ltd

4,460,123

6,704

Blue

Dart

Express

Ltd

614,757

1,167,458

Brightcom

Group

Ltd

466,792

85,578

BSE

Ltd

610,623

35,051

Caplin

Point

Laboratories

Ltd

306,985

735,426

Castrol

India

Ltd

1,104,358

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

INDIA—continued

335,702

Central

Depository

Services

India

Ltd

$

4,967,955

94,476

Century

Textile

&

Industries

Ltd

979,211

83,869

CESC

Ltd

77,830

168,938

Chambal

Fertilizers

&

Chemicals

Ltd

666,561

353,330

g

Cochin

Shipyard

Ltd

2,297,545

28,438

Computer

Age

Management

Services

Ltd

876,593

398,487

Coromandel

International

Ltd

4,632,444

50,730

\*

Crompton

Greaves

Ltd

159,709

8,439

Cummins

India

Ltd

137,413

52,699

Deepak

Fertilizers

&

Petrochemicals

Corp

Ltd

615,622

53,012

\*

Devyani

International

Ltd

124,157

623,803

\*

Dhani

Services

Ltd

430,802

57,104

EID

Parry

India

Ltd

427,473

26,926

Emami

Ltd

154,259

43,251

Exide

Industries

Ltd

86,655

135,199

Finolex

Cables

Ltd

851,541

9,836

GHCL

Ltd

76,865

1,502

Gillette

India

Ltd

93,348

41,278

GlaxoSmithKline

Pharmaceuticals

Ltd

686,889

92,588

Glenmark

Pharmaceuticals

Ltd

452,653

8,297

GMM

Pfaudler

Ltd

185,098

36,536

Godfrey

Phillips

India

Ltd

655,483

91,629

Great

Eastern

Shipping

Co

Ltd

616,322

11,593

Gujarat

Alkalies

&

Chemicals

Ltd

125,105

1,418

Gujarat

Fluorochemicals

Ltd

64,953

254,421

Gujarat

Mineral

Development

Corp

Ltd

434,550

482,248

Gujarat

Narmada

Valley

Fertilizers

Co

Ltd

4,139,075

261,187

Gujarat

Pipavav

Port

Ltd

270,880

291,899

Gujarat

State

Fertilisers

&

Chemicals

Ltd

434,596

59,891

Happiest

Minds

Technologies

Ltd

702,671

103,629

g

ICICI

Securities

Ltd

646,548

26,835

Indian

Bank

82,375

757,757

g

Indian

Energy

Exchange

Ltd

1,281,635

16,572,461

\*

Jaiprakash

Power

Ventures

Ltd

1,503,082

107,701

Kaveri

Seed

Co

Ltd

633,312

8,806

Linde

India

Ltd

326,928

33,599

Mahanagar

Gas

Ltd

349,947

52,448

Manappuram

General

Finance

&

Leasing

Ltd

66,745

11,483

Mastek

Ltd

234,509

5,104

\*

Max

Financial

Services

Ltd

43,733

2,263

Merck

Ltd

110,301

3,452

Multi

Commodity

Exchange

of

India

Ltd

64,123

349,398

Nagarjuna

Construction

Co

315,473

1,221,041

National

Aluminium

Co

Ltd

1,035,202

658,553

NBCC

India

Ltd

258,438

15,859

g

Nippon

Life

India

Asset

Management

Ltd

51,860

25,625

Polycab

India

Ltd

860,483

3,312

Polyplex

Corp

Ltd

67,274

4,828

Radico

Khaitan

Ltd

60,863

154,903

Rain

Commodities

Ltd

313,826

16,927

Rallis

India

Ltd

46,342

1,275,411

Rashtriya

Chemicals

&

Fertilizers

Ltd

1,570,431

301,579

Redington

India

Ltd

498,202

11,100

Relaxo

Footwears

Ltd

129,705

10,450,102

\*

Reliance

Power

Ltd

2,036,655

27,208

Route

Mobile

Ltd

431,212

6,513

Schaeffler

India

Ltd

216,867

3,106

SKF

India

Ltd

165,205

4,737

Solar

Industries

India

Ltd

223,053

42,249

Sonata

Software

Ltd

267,189

185,106

\*

SpiceJet

Ltd

89,398

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

INDIA—continued

325,052

Sumitomo

Chemical

India

Ltd

$

1,935,123

90,071

Tata

Chemicals

Ltd

1,234,063

13,440

Tata

Elxsi

Ltd

1,136,031

161,287

\*

Tata

Teleservices

Maharashtra

Ltd

198,643

242,007

Triveni

Turbine

Ltd

818,767

5,774

Tube

Investments

of

India

Ltd

191,317

392,573

TVS

Motor

Co

Ltd

5,440,560

838,073

Vakrangee

Ltd

318,918

15,002

Voltas

Ltd

158,954

46,562

Zensar

Technologies

Ltd

125,790

25,945

Zydus

Wellness

Ltd

551,503

TOTAL

INDIA

64,015,665

INDONESIA

-

.5

%

7,367,700

Bank

Pembangunan

Daerah

Jawa

Barat

Dan

Banten

Tbk

PT

649,464

5,499,000

Bank

Pembangunan

Daerah

Jawa

Timur

Tbk

PT

248,552

1,770,200

Bumitama

Agri

Ltd

742,854

1,492,000

First

Pacific

Co

395,089

1,254,100

First

Resources

Ltd

1,317,600

21,157,500

Golden

Agri-Resources

Ltd

4,338,528

24,012,337

Industri

Jamu

Dan

Farmasi

Sido

Muncul

Tbk

PT

1,139,229

1,151,000

Matahari

Department

Store

Tbk

PT

344,503

16,608,800

\*

Mitra

Adiperkasa

Tbk

PT

1,283,129

1,925,000

PT

Astra

Agro

Lestari

Tbk

1,049,198

16,636,300

PT

Indika

Energy

Tbk

3,468,167

11,542,100

PT

Perusahaan

Perkebunan

London

Sumatra

Indonesia

Tbk

836,026

2,796,800

PT

Sawit

Sumbermas

Sarana

Tbk

249,175

6,280,900

PT

Tambang

Batubara

Bukit

Asam

Tbk

1,572,995

TOTAL

INDONESIA

17,634,509

IRELAND

-

.2

%

44,711

Bank

of

Ireland

Group

plc

321,947

51,428

Keywords

Studios

plc

1,422,142

224,781

Origin

Enterprises

plc

833,670

TOTAL

IRELAND

2,577,759

ISRAEL

-

.9

%

2,564,469

Bezeq

Israeli

Telecommunication

Corp

Ltd

4,539,713

163,422

\*

Cellcom

Israel

Ltd

818,130

22,202

Danya

Cebus

Ltd

529,165

17,952

\*

Fattal

Holdings

1998

Ltd

1,823,413

153,166

First

International

Bank

Of

Israel

Ltd

6,613,916

220,846

Harel

Insurance

Investments

&

Finances

Ltd

2,125,858

12,999

Israel

Corp

Ltd

5,626,643

16,063

Ituran

Location

and

Control

Ltd

385,191

27,240

Magic

Software

Enterprises

Ltd

423,519

18,793

Malam-Team

Ltd

427,157

40,438

\*

OPC

Energy

Ltd

497,192

35,604

\*

OY

Nofar

Energy

Ltd

941,157

258,399

Plus500

Ltd

5,348,790

10,410

Rami

Levi

Chain

Stores

Hashikma

Marketing

Ltd

721,918

546,963

Shufersal

Ltd

3,733,868

375,465

\*

Taboola.com

Ltd

660,818

TOTAL

ISRAEL

35,216,448

ITALY

-

.1

%

122,888

ACEA

S.p.A.

1,548,450

146,844

Banca

Popolare

di

Sondrio

SCARL

526,738

50,833

Danieli

&

Co

S.p.A.

(RSP)

698,218

1,676,359

Iride

S.p.A.

2,491,206

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

ITALY—continued

6,512

Italmobiliare

S.p.A

$

166,468

17,044

MARR

S.p.A.

179,594

313,199

Piaggio

&

C

S.p.A.

804,654

25,072

Reply

S.p.A

2,727,170

25,875

Sesa

S.p.A

2,802,172

23,293

SOL

S.p.A.

419,000

183,288

Tamburi

Investment

Partners

S.p.A.

1,288,829

TOTAL

ITALY

13,652,499

JAPAN

-

.5

%

44,800

Aeon

Delight

Co

Ltd

895,454

408,700

Amada

Co

Ltd

2,874,620

141,800

\*,e

Bengo4.com,

Inc

3,021,632

13,400

\*

C

Uyemura

&

Co

Ltd

612,877

36,800

\*

Canon

Electronics,

Inc

388,566

59,100

\*,e

CellSource

Co

Ltd

1,743,115

16,500

Central

Glass

Co

Ltd

389,608

67,300

Chudenko

Corp

928,905

128,100

Citizen

Watch

Co

Ltd

537,983

42,100

Coca-Cola

West

Japan

Co

Ltd

380,371

21,300

Comture

Corp

346,555

12,400

Daiken

Corp

166,028

101,000

Digital

Arts,

Inc

4,244,427

7,900

Eiken

Chemical

Co

Ltd

97,577

397,500

Electric

Power

Development

Co

5,528,307

293,800

Fancl

Corp

5,566,082

1,057,600

Fujikura

Ltd

6,262,026

70,800

Fujimi,

Inc

2,955,979

92,700

e

Funai

Soken

Holdings,

Inc

1,652,408

72,000

Fuso

Chemical

Co

Ltd

1,626,320

21,100

Fuyo

General

Lease

Co

Ltd

1,172,660

21,000

e

Goldcrest

Co

Ltd

246,472

65,300

Hankyu

Department

Stores,

Inc

549,527

6,200

Hanwa

Co

Ltd

149,940

987,200

Hitachi

Zosen

Corp

5,691,210

562,400

Iino

Kaiun

Kaisha

Ltd

2,798,900

95,900

Inaba

Denki

Sangyo

Co

Ltd

1,790,147

584,600

Infomart

Corp

1,891,195

119,300

Insource

Co

Ltd

2,408,963

1,759

ITOCHU

Advance

Logistics

Investment

Corp

1,720,181

115,300

Itochu

Enex

Co

Ltd

793,454

364,000

Jafco

Co

Ltd

5,584,957

258,800

Japan

Petroleum

Exploration

Co

6,724,376

2,900

Japan

Pulp

&

Paper

Co

Ltd

89,482

319,100

JCR

Pharmaceuticals

Co

Ltd

4,742,627

42,000

Justsystems

Corp

883,368

265,100

Kandenko

Co

Ltd

1,490,112

21,500

Kanematsu

Electronics

Ltd

638,704

121,700

Kanto

Denka

Kogyo

Co

Ltd

776,316

184,300

Kawasaki

Heavy

Industries

Ltd

3,134,463

36,600

e

Kentucky

Fried

Chicken

Japan

Ltd

685,000

150,300

Kinden

Corp

1,529,356

184,700

Kitz

Corp

1,094,965

656,100

Kobe

Steel

Ltd

2,690,596

15,600

Kohnan

Shoji

Co

Ltd

326,634

102,200

Komeri

Co

Ltd

1,782,976

16,700

Konoike

Transport

Co

Ltd

175,745

18,100

Kyokuto

Kaihatsu

Kogyo

Co

Ltd

168,193

1,027,600

Kyushu

Electric

Power

Co,

Inc

5,087,721

40,100

Lintec

Corp

601,644

7,100

\*,e

M&A

Capital

Partners

Co

Ltd

180,657

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

13,200

Maruzen

Showa

Unyu

Co

Ltd

$

269,385

171,500

Maxell

Holdings

Ltd

1,422,754

15,500

Maxvalu

Tokai

Co

Ltd

292,253

142,040

\*

Medley,

Inc

3,444,317

80,900

METAWATER

Co

Ltd

1,035,316

44,400

Milbon

Co

Ltd

1,830,778

97,500

Mimasu

Semiconductor

Industry

Co

Ltd

1,507,763

342,900

Miraito

Holdings

Corp

3,295,143

807,000

\*

Mitsubishi

Motors

Corp

2,718,569

33,200

Mitsubishi

Research

Institute,

Inc

1,159,590

36,700

Mitsui

Sugar

Co

Ltd

468,856

57,900

Mitsui-Soko

Co

Ltd

1,206,998

88,600

Mizuno

Corp

1,516,824

13,100

Morita

Holdings

Corp

112,346

91,200

MOS

Food

Services,

Inc

1,934,791

45,600

Nakanishi,

Inc

832,019

8,600

Nichiden

Corp

101,665

53,800

Nichiha

Corp

1,018,784

103,000

Nihon

Kohden

Corp

2,306,389

59,100

Nihon

Unisys

Ltd

1,276,641

66,900

Nippon

Ceramic

Co

Ltd

1,162,385

173,400

Nippon

System

Development

Co

Ltd

2,963,156

47,300

Nishi-Nippon

Financial

Holdings,

Inc

241,240

115,300

Nissan

Shatai

Co

Ltd

663,870

138,300

Nissin

Electric

Co

Ltd

1,283,713

10,350

Nitto

Kogyo

Corp

171,295

143,600

NOF

Corp

4,939,328

315,300

Nomura

Co

Ltd

2,303,072

41,100

Noritsu

Koki

Co

Ltd

739,898

15,700

OBIC

Business

Consultants

Ltd

451,296

4,700

Okamoto

Industries,

Inc

117,216

101,600

Pacific

Metals

Co

Ltd

1,254,831

302,600

PHC

Holdings

Corp

3,141,065

474,000

Pola

Orbis

Holdings,

Inc

5,235,405

97,300

Prima

Meat

Packers

Ltd

1,287,584

177,300

Riso

Kyoiku

Co

Ltd

366,803

541,900

Ryohin

Keikaku

Co

Ltd

5,099,292

144,000

Sakata

Seed

Corp

4,746,209

210,100

Sankyo

Co

Ltd

6,937,890

241,700

Seria

Co

Ltd

3,948,538

7,800

Shibuya

Kogyo

Co

Ltd

134,618

304,300

Shikoku

Electric

Power

Co,

Inc

1,463,941

56,100

Shinko

Plantech

Co

Ltd

469,889

181,240

Shinwa

Kaiun

Kaisha

Ltd

4,510,747

89,000

e

Shizuoka

Gas

Co

Ltd

651,920

80,000

Shoei

Co

Ltd

2,950,274

994,600

Sky

Perfect

Jsat

Corp

3,483,617

39,100

Star

Micronics

Co

Ltd

447,892

69,500

Sumitomo

Bakelite

Co

Ltd

1,881,106

661,500

Sumitomo

Dainippon

Pharma

Co

Ltd

4,607,950

32,500

Sun

Frontier

Fudousan

Co

Ltd

250,932

231,500

Suzuken

Co

Ltd

5,154,055

11,400

Taihei

Dengyo

Kaisha

Ltd

251,631

291,300

Takara

Bio,

Inc

3,408,088

49,000

Takasago

Thermal

Engineering

Co

Ltd

596,088

211,200

Takeuchi

Manufacturing

Co

Ltd

4,259,265

80,200

Takiron

Co

Ltd

277,109

85,000

Tamron

Co

Ltd

1,888,163

51,200

TKC

1,306,978

55,500

Tokyo

Seimitsu

Co

Ltd

1,669,139

246,800

Tokyo

Steel

Manufacturing

Co

Ltd

2,118,953

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

44,500

Torii

Pharmaceutical

Co

Ltd

$

902,985

200,800

UBE

Industries

Ltd

2,589,877

20,900

\*,e

Universal

Entertainment

Corp

281,996

86,900

Yellow

Hat

Ltd

1,041,879

13,700

Yokogawa

Bridge

Holdings

Corp

182,068

190,100

Yonex

Co

Ltd

1,761,099

TOTAL

JAPAN

221,166,907

KOREA,

REPUBLIC

OF

-

.4

%

72,283

Daewoong

Co

Ltd

1,045,924

67,057

Daishin

Securities

Co

Ltd

656,109

29,500

Daishin

Securities

Co

Ltd

PF

273,071

6,706

Dong-A

Pharmaceutical

Co

Ltd

479,530

2,574

Dong-A

ST

Co

Ltd

98,387

162,464

Dongwon

Development

Co

Ltd

405,490

19,358

Golfzon

co

Ltd

1,564,040

1,641,472

Hanwha

Life

Insurance

Co

Ltd

2,513,044

217,289

Hyundai

Marine

&

Fire

Insurance

Co

Ltd

5,074,378

20,348

Ilyang

Pharmaceutical

Co

Ltd

253,634

5,805

Innocean

Worldwide,

Inc

163,508

236,686

JB

Financial

Group

Co

Ltd

1,191,840

92,125

Koh

Young

Technology,

Inc

770,613

1,581,018

\*

Korea

Line

Corp

2,181,617

14,152

Korea

United

Pharm

Inc

235,914

73,845

LIG

Nex1

Co

Ltd

5,264,709

40,240

Lotte

Rental

Co

Ltd

834,907

84,915

LS

Cable

Ltd

3,956,575

1,041

Miwon

Commercial

Co

Ltd

123,931

37,943

\*

NH

Special

Purpose

Acquisition

Co

Ltd

140,901

4,238

Nong

Shim

Co

Ltd

897,700

180,061

\*

SAM

KANG

M&T

Co

Ltd

2,553,591

120,867

Samsung

Techwin

Co

Ltd

5,628,953

6,099

Shinyoung

Securities

Co

Ltd

236,643

590,642

SK

Networks

Co

Ltd

1,668,253

4,771

TES

Co

Ltd

53,111

36,665

Tokai

Carbon

Korea

Co

Ltd

2,605,503

TOTAL

KOREA,

REPUBLIC

OF

40,871,876

KUWAIT

-

.2

%

285,633

Al

Ahli

Bank

of

Kuwait

KSCP

305,245

2,451,242

Burgan

Bank

SAK

1,724,730

5,662

Humansoft

Holding

Co

KSC

61,460

TOTAL

KUWAIT

2,091,435

MALAYSIA

-

.8

%

192,500

Astro

Malaysia

Holdings

BHD

27,483

818,200

Berjaya

Auto

BHD

342,374

315,800

Bursa

Malaysia

BHD

430,835

104,400

Carlsberg

Brewery-Malay

BHD

491,848

4,158,400

Frontken

Corp

BHD

2,164,351

130,000

Genting

Plantations

BHD

168,274

217,000

Guinness

Anchor

BHD

1,058,791

2,393,700

IGB

Real

Estate

Investment

Trust

794,790

589,809

g

Lotte

Chemical

Titan

Holding

BHD

163,570

3,347,500

Malakoff

Corp

BHD

436,250

669,500

Sunway

Real

Estate

Investment

198,427

1,558,000

Time

dotCom

BHD

1,499,344

5,318,400

TSH

Resources

BHD

1,192,046

56,300

United

Plantations

BHD

169,712

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

MALAYSIA—continued

5,658,700

\*

YTL

Corp

BHD

$

676,213

TOTAL

MALAYSIA

9,814,308

MALTA

-

.1

%

88,713

Kindred

Group

plc

769,570

TOTAL

MALTA

769,570

MEXICO

-

.8

%

1,836,800

g

Banco

del

Bajio

S.A.

5,180,456

1,053,400

Bolsa

Mexicana

de

Valores

S.A.

de

C.V.

1,918,269

45,200

Concentradora

Fibra

Danhos

S.A.

de

C.V.

55,893

200,700

e

Grupo

Comercial

Chedraui

S.a.

DE

C.V.

808,959

658,000

g

Macquarie

Mexico

Real

Estate

Management

SA

de

CV

875,097

41,900

Regional

SAB

de

C.V.

292,812

TOTAL

MEXICO

9,131,486

NETHERLANDS

-

.8

%

161,893

Aalberts

Industries

NV

5,616,338

76,782

AMG

Advanced

Metallurgical

Group

NV

2,398,892

9,605

Brunel

International

NV

88,475

572,001

\*

Fugro

NV

7,429,817

161,019

OCI

NV

6,158,636

TOTAL

NETHERLANDS

21,692,158

NEW

ZEALAND

-

.5

%

394,876

Contact

Energy

Ltd

1,732,086

1,233,579

Fletcher

Building

Ltd

3,683,382

TOTAL

NEW

ZEALAND

5,415,468

NORWAY

-

.5

%

83,466

Atea

ASA

928,768

28,014

\*,e,g

Crayon

Group

Holding

ASA

232,253

1,889,217

DNO

International

ASA

2,457,367

152,821

Kongsberg

Gruppen

ASA

5,480,223

289,386

\*

Odfjell

Drilling

Ltd

756,262

18,420

Protector

Forsikring

ASA

219,313

17,213

Sparebank

Oestlandet

186,102

120,469

Sparebanken

Nord-Norge

999,606

390,151

TGS

Nopec

Geophysical

Co

ASA

5,311,838

467,277

\*

Vaccibody

AS.

1,122,442

TOTAL

NORWAY

17,694,174

PHILIPPINES

-

.4

%

8,379,840

DMCI

Holdings,

Inc

1,381,357

485,000

Filinvest

REIT

Corp

47,705

1,197,600

RL

Commercial

REIT,

Inc

104,504

4,602,500

Semirara

Mining

&

Power

Corp

2,798,194

TOTAL

PHILIPPINES

4,331,760

POLAND

-

.3

%

96,206

Asseco

Poland

S.A.

1,384,207

48,814

\*

Ciech

S.A.

342,025

617,169

\*

Enea

S.A.

673,623

133,625

\*

Grupa

Azoty

S.A.

915,511

TOTAL

POLAND

3,315,366

PORTUGAL

-

.5

%

59,232

Corticeira

Amorim

SGPS

S.A.

572,482

581,774

\*

Greenvolt-Energias

Renovaveis

S.A.

4,468,809

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

PORTUGAL—continued

23,290

Semapa-Sociedade

de

Investimento

e

Gestao

$

296,255

TOTAL

PORTUGAL

5,337,546

RUSSIA

-

.0

%

81,310

\*,†

Sistema

PJSFC

(GDR)

813

TOTAL

RUSSIA

813

SAUDI

ARABIA

-

.1

%

149,185

Abdullah

Al

Othaim

Markets

Co

4,506,834

149,683

\*

Co

for

Cooperative

Insurance

3,373,338

229,110

\*

Saudi

Airlines

Catering

Co

4,718,012

TOTAL

SAUDI

ARABIA

12,598,184

SINGAPORE

-

.0

%

115,052

g

BW

LPG

Ltd

930,855

385,500

Far

East

Hospitality

Trust

156,496

115,000

Haw

Par

Corp

Ltd

767,740

7,948,700

NetLink

NBN

Trust

4,801,383

53,800

e

Overseas

Union

Enterprise

Ltd

47,887

1,262,900

Raffles

Medical

Group

Ltd

1,186,569

1,452,100

Sasseur

Real

Estate

Investment

Trust

728,592

1,786,100

Sheng

Siong

Group

Ltd

1,969,936

108,200

\*

SIA

Engineering

Co

Ltd

165,181

881,900

StarHub

Ltd

666,712

TOTAL

SINGAPORE

11,421,351

SOUTH

AFRICA

-

.1

%

148,093

Astral

Foods

Ltd

1,419,435

1,113,465

Coronation

Fund

Managers

Ltd

1,987,677

822,160

Omnia

Holdings

Ltd

3,223,069

1,639,104

Pick'n

Pay

Stores

Ltd

5,268,333

377,961

PSG

Konsult

Ltd

225,722

512,429

e

Super

Group

Ltd

725,315

TOTAL

SOUTH

AFRICA

12,849,551

SPAIN

-

.4

%

132,308

Applus

Services

S.A.

781,284

43,770

Cia

de

Distribucion

Integral

Logista

Holdings

SAU

905,228

18,867

Corp

Financiera

Alba

839,039

240,396

Ence

Energia

y

Celulosa

S.A.

823,322

518,386

Faes

Farma

S.A.

(Sigma)

1,956,640

469,148

g

Gestamp

Automocion

S.A.

1,652,006

20,956

Grupo

Catalana

Occidente

S.A.

569,147

49,536

Pharma

Mar

S.A.

2,968,098

383,217

Prosegur

Cia

de

Seguridad

S.A.

713,643

2,567,076

g

Unicaja

Banco

S.A.

2,275,684

60,942

Viscofan

S.A.

3,628,913

TOTAL

SPAIN

17,113,004

SWEDEN

-

.6

%

197,023

g

AcadeMedia

AB

843,324

293,464

AddTech

AB

3,546,021

182,690

AF

AB

2,453,305

49,018

g

Ambea

AB

173,387

398,501

Arjo

AB

1,589,614

55,263

Beijer

Alma

AB

772,660

323,867

Billerud

AB

4,181,025

50,364

Bufab

AB

951,871

128,500

Bure

Equity

AB

2,479,798

18,597

\*

Camurus

AB

431,479

761,317

Corem

Property

Group

AB

473,919

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

SWEDEN—continued

20,340

Creades

AB

$

136,536

59,681

Dios

Fastigheter

AB

391,911

121,415

Fagerhult

AB

483,848

449,819

\*,e

Humble

Group

AB

343,029

33,340

Investment

AB

Oresund

346,057

142,929

Inwido

AB

1,283,934

70,825

Mekonomen

AB

669,285

97,936

e

MIPS

AB

3,167,458

285,656

g

Munters

Group

AB

2,228,644

190,668

NCC

AB

(B

Shares)

1,588,731

12,894

Nyfosa

AB

77,056

181,120

\*

OX2

AB

1,249,640

19,026

Saab

AB

(Class

B)

672,265

2,841

\*

Sdiptech

AB

54,780

73,629

Sectra

AB

976,090

113,542

Ssab

Svenskt

Stal

AB

(Series

A)

546,145

1,158,221

Ssab

Svenskt

Stal

AB

(Series

B)

5,381,582

2,349,497

\*

Stillfront

Group

AB

4,572,948

49,644

Synsam

AB

222,891

11,609

Vitrolife

AB

187,623

113,499

Wihlborgs

Fastigheter

AB

743,557

15,546

\*

Xvivo

Perfusion

AB

223,549

TOTAL

SWEDEN

43,443,962

SWITZERLAND

-

.2

%

3,555,822

\*

Aryzta

AG.

3,645,070

3,126

Belimo

Holding

AG.

1,273,243

39,960

BKW

S.A.

4,661,842

7,348

Bucher

Industries

AG.

2,477,492

77,963

DKSH

Holding

AG.

5,624,295

8,336

Helvetia

Holding

AG.

827,784

692

LEM

Holding

S.A.

1,152,700

583,916

OC

Oerlikon

Corp

AG.

3,771,586

8,719

Orior

AG.

607,805

8,037

\*,g

Sensirion

Holding

AG.

731,224

9,260

Swissquote

Group

Holding

S.A.

1,096,857

826

Vetropack

Holding

AG.

26,411

2,093

\*

V-ZUG

Holding

AG.

151,047

920

Zehnder

Group

AG.

49,545

TOTAL

SWITZERLAND

26,096,901

TAIWAN

-

.4

%

1,155,000

Asia

Vital

Components

Co

Ltd

3,642,266

1,403,000

Chang

Wah

Technology

Co

Ltd

1,259,731

1,588,000

China

Bills

Finance

Corp

699,694

18,000

ECOVE

Environment

Corp

135,966

5,308,000

Evergreen

International

Storage

&

Transport

Corp

4,263,984

846,000

Faraday

Technology

Corp

3,704,961

517,000

Feng

Hsin

Iron

&

Steel

Co

901,591

120,000

Formosa

Advanced

Technologies

Co

Ltd

139,901

351,000

Global

Unichip

Corp

5,279,999

249,000

Hannstar

Board

Corp

221,514

284,000

International

Games

System

Co

Ltd

3,092,052

15,000

King

Slide

Works

Co

Ltd

194,632

594,000

Lung

Yen

Life

Service

Corp

650,192

23,000

\*

Medigen

Vaccine

Biologics

Corp

45,885

1,669,034

\*

Mercuries

Life

Insurance

Co

Lt

283,525

3,195,000

Sesoda

Corp

3,972,240

521,000

Shin

Zu

Shing

Co

Ltd

1,257,428

401,000

Shinkong

Insurance

Co

Ltd

547,881

470,000

Simplo

Technology

Co

Ltd

3,734,517

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

TAIWAN—continued

128,000

Sinbon

Electronics

Co

Ltd

$

993,996

5,978,000

Sincere

Navigation

3,263,192

68,000

Systex

Corp

139,590

2,626,000

Taiwan

Fertilizer

Co

Ltd

4,257,536

800,000

Taiwan

Glass

Industrial

Corp

505,311

365,000

Taiwan

Secom

Co

Ltd

1,045,688

344,000

Tong

Hsing

Electronic

Industries

Ltd

1,839,232

260,000

Topco

Scientific

Co

Ltd

1,203,151

15,000

Ttet

Union

Corp

67,453

577,000

TTY

Biopharm

Co

Ltd

1,340,257

90,000

VIA

Labs,

Inc

471,304

2,382,000

Wisdom

Marine

Lines

Co

Ltd

3,852,520

83,000

YungShin

Global

Holding

Corp

100,131

TOTAL

TAIWAN

53,107,320

THAILAND

-

.0

%

170,200

\*

Bangkok

Aviation

Fuel

Services

PCL

138,528

1,570,700

Bangkok

Life

Assurance

PCL

1,351,561

1,189,300

Mega

Lifesciences

PCL

1,382,725

120,540

Regional

Container

Lines

PCL

84,073

5,160,000

Sino

Thai

Engineering

&

Construction

PCL

1,590,403

475,500

SPCG

PCL

171,415

2,583,400

Supalai

PCL

1,405,055

14,057,100

Thoresen

Thai

Agencies

PCL

2,779,915

1,016,800

Tisco

Bank

PCL

2,566,406

895,000

TPI

Polene

Power

PCL

79,022

TOTAL

THAILAND

11,549,103

TURKEY

-

.4

%

507,894

\*

Migros

Ticaret

AS

3,301,512

1,429,385

Sok

Marketler

Ticaret

AS.

1,815,842

TOTAL

TURKEY

5,117,354

UNITED

ARAB

EMIRATES

-

.3

%

206,421

\*

Borr

Drilling

Ltd

1,000,208

8,870,787

Dana

Gas

PJSC

2,270,968

TOTAL

UNITED

ARAB

EMIRATES

3,271,176

UNITED

KINGDOM

-

.5

%

85,400

Advanced

Medical

Solutions

Group

plc

267,367

68,857

AG.

Barr

plc

354,834

98,645

AJ

Bell

plc

366,902

264,363

Alliance

Pharma

plc

188,026

275,649

\*,g

Aston

Martin

Lagonda

Global

Holdings

plc

333,113

292,946

Big

Yellow

Group

plc

3,769,500

622,812

Britvic

plc

5,196,100

327,294

Bytes

Technology

Group

plc

1,348,223

1,582,838

Capital

&

Counties

Properties

1,944,077

759,088

Chemring

Group

plc

2,631,481

21,685

Clarkson

plc

686,357

25,619

Computacenter

plc

531,559

108,672

Derwent

London

plc

2,689,555

210,620

Diploma

plc

5,990,636

1,707,688

DS

Smith

plc

5,695,004

1,407,436

\*

easyJet

plc

5,603,966

21,433

Fevertree

Drinks

plc

234,298

371,021

GB

Group

plc

1,619,616

651,341

Grafton

Group

plc

5,156,831

854,765

Halfords

Group

plc

1,728,170

922,713

Howden

Joinery

Group

plc

5,435,328

419,523

Hunting

plc

1,286,966

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

UNITED

KINGDOM—continued

508,741

IG

Group

Holdings

plc

$

4,640,357

680,241

Inchcape

plc

5,803,068

1,065,496

Just

Retirement

Group

plc

707,738

60,466

Kainos

Group

plc

858,539

11,001

Keller

Group

plc

79,228

81,926

Liontrust

Asset

Management

plc

802,356

885,230

LXI

REIT

plc

1,235,782

89,978

\*,e

Marlowe

plc

825,494

227,774

Morgan

Crucible

Co

plc

642,579

65,007

Morgan

Sindall

plc

1,147,053

1,474,391

\*

National

Express

Group

plc

2,858,121

72,135

Numis

Corp

plc

149,897

389,380

Polypipe

Group

plc

1,137,937

213,794

PZ

Cussons

plc

490,212

1,264,776

QinetiQ

plc

5,213,235

816,197

Redrow

plc

3,927,555

1,645,262

Rotork

plc

4,822,390

495,324

Safestore

Holdings

plc

5,131,745

382,112

Senior

plc

569,668

40,158

Softcat

plc

515,968

174,186

Spectris

plc

6,037,108

1,350,837

Spirent

Communications

plc

4,009,818

1,626,288

Tritax

Big

Box

REIT

plc

2,614,978

49,577

Vesuvius

plc

192,852

1,662,507

Virgin

Money

UK

plc

2,591,151

448,776

e

Volex

plc

1,273,774

912,859

Wickes

Group

plc

1,327,426

61,709

YouGov

plc

631,641

TOTAL

UNITED

KINGDOM

113,295,579

UNITED

STATES

-

.5

%

41,709

\*

Inmode

Ltd

1,431,453

450,381

iShares

Core

MSCI

Emerging

Markets

ETF

19,073,635

179,502

e

iShares

MSCI

Canada

Index

Fund

5,928,951

966,203

e

iShares

MSCI

EAFE

Small-Cap

ETF

49,218,381

136,366

\*

MDA

Ltd

669,643

45,000

Parade

Technologies

Ltd

847,440

25,942

\*

Taro

Pharmaceutical

Industries

Ltd

776,444

TOTAL

UNITED

STATES

77,945,947

TOTAL

COMMON

STOCKS

1,188,978,489

(Cost

$1,362,680,654)

SHORT-TERM

INVESTMENTS

-

6.3%

RATE

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.3

%

$

75,121,549

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

%

75,121,549

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

75,121,549

TOTAL

SHORT-TERM

INVESTMENTS

75,121,549

(Cost

$75,121,549)

TOTAL

INVESTMENTS

-

105.8%

1,264,100,038

(Cost

$1,437,802,203)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(5.8)%

(68,928,465)

NET

ASSETS

-

100.0%

$

1,195,171,573

Portfolio

of

investments

Quant

International

Small-Cap

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

concluded

ETF

Exchange

Traded

Fund

GDR

Global

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$95,189,162.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

VALUE

COMMON

STOCKS

-

98.3%

AUSTRALIA

-

.9

%

74,309

APA

Group

$

500,277

10,912

Aurizon

Holdings

Ltd

25,287

456,951

Australia

&

New

Zealand

Banking

Group

Ltd

7,486,566

8,834

Australian

Stock

Exchange

Ltd

382,764

135,330

BlueScope

Steel

Ltd

1,362,770

40,091

Brambles

Ltd

300,151

8,415

Cochlear

Ltd

1,074,962

143,000

Coles

Group

Ltd

1,495,159

200,026

Commonwealth

Bank

of

Australia

13,411,092

9,158

e

Evolution

Mining

Ltd

12,149

325,298

Fortescue

Metals

Group

Ltd

3,064,633

134,218

Goodman

Group

1,460,386

17,118

e

IDP

Education

Ltd

322,962

71,463

Insurance

Australia

Group

Ltd

224,318

125,987

Lend

Lease

Corp

Ltd

700,583

34,403

Macquarie

Group

Ltd

3,732,134

84,718

Mineral

Resources

Ltd

3,971,730

225,239

Newcrest

Mining

Ltd

2,494,584

98,399

Northern

Star

Resources

Ltd

549,174

13,401

Orica

Ltd

119,205

500,029

Origin

Energy

Ltd

1,786,392

83,107

QBE

Insurance

Group

Ltd

651,140

34,083

Ramsay

Health

Care

Ltd

1,278,424

14,047

e

REA

Group

Ltd

1,088,725

72,273

Seek

Ltd

994,900

599,266

Transurban

Group

5,083,541

186,464

Vicinity

Centres

232,458

97,982

Wesfarmers

Ltd

2,843,342

77,370

Wisetech

Global

Ltd

2,861,374

157,774

Woodside

Energy

Group

Ltd

3,647,490

185,763

Woolworths

Ltd

3,922,902

TOTAL

AUSTRALIA

67,081,574

AUSTRIA

-

.7

%

133,054

Erste

Bank

der

Oesterreichischen

Sparkassen

AG.

3,279,107

102,928

Mondi

plc

1,726,974

77,589

OMV

AG.

3,572,456

TOTAL

AUSTRIA

8,578,537

BELGIUM

-

.3

%

13,111

Dieteren

S.A.

2,182,038

87,998

KBC

Groep

NV

4,410,084

14,733

Solvay

S.A.

1,329,518

45,627

UCB

S.A.

3,438,806

91,229

Umicore

S.A.

3,007,447

TOTAL

BELGIUM

14,367,893

CHILE

-

.2

%

207,756

Antofagasta

plc

2,799,597

TOTAL

CHILE

2,799,597

CHINA

-

.0

%

1,272,017

BOC

Hong

Kong

Holdings

Ltd

3,952,546

115,791

Prosus

NV

5,006,996

852,500

Wilmar

International

Ltd

2,335,468

TOTAL

CHINA

11,295,010

DENMARK

-

.7

%

6,894

Chr

Hansen

Holding

A/S

382,900

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

DENMARK—continued

15,833

Coloplast

AS

$

1,764,907

45,400

\*

Demant

A.S.

1,239,749

9,484

\*

Genmab

AS

3,653,309

175,526

Novo

Nordisk

AS

19,085,161

15,481

Novozymes

AS

812,606

17,137

g

Orsted

AS

1,413,901

8,777

Pandora

AS

461,701

89,641

Vestas

Wind

Systems

A.S.

1,767,153

TOTAL

DENMARK

30,581,387

FINLAND

-

.1

%

9,843

Elisa

Oyj

(Series

A)

475,676

108,684

Neste

Oil

Oyj

4,763,452

1,157,902

Nokia

Oyj

5,145,616

12,657

Orion

Oyj

(Class

B)

582,452

37,810

Stora

Enso

Oyj

(R

Shares)

492,997

43,096

UPM-Kymmene

Oyj

1,448,777

TOTAL

FINLAND

12,908,970

FRANCE

-

.9

%

89,671

\*

Accor

S.A.

2,148,647

296,425

AXA

S.A.

7,320,179

21,408

BioMerieux

1,894,148

87,352

Bouygues

S.A.

2,492,253

110,805

Bureau

Veritas

S.A.

2,741,345

33,232

Cap

Gemini

S.A.

5,446,416

189,165

Cie

Generale

des

Etablissements

Michelin

S.C.A

4,820,690

123,766

Danone

6,151,107

43,886

Eiffage

S.A.

3,968,250

45,882

Essilor

International

S.A.

7,255,236

22,956

Eurazeo

1,309,994

18,200

Fonciere

Des

Regions

974,456

7,636

Gecina

S.A.

680,780

5,264

Hermes

International

6,813,643

13,630

Kering

6,242,007

113,347

Klepierre

2,278,077

32,458

Legrand

S.A.

2,473,449

31,083

L'Oreal

S.A.

9,760,192

515,401

Orange

S. A. 4,910,695

76,909

Publicis

Groupe

S.A.

4,307,240

5,764

SEB

S.A.

375,245

213,649

Societe

Generale

4,900,471

5,608

Teleperformance

1,502,551

279,301

Total

S.A.

15,236,805

31,305

\*

Unibail-Rodamco-Westfield

1,481,271

30,833

\*

Unibail-Rodamco-Westfield

1,457,154

108,628

Valeo

S.A.

1,789,426

215,899

Vivendi

Universal

S.A.

1,767,128

14,026

Wendel

1,098,262

TOTAL

FRANCE

113,597,117

GERMANY

-

.7

%

24,317

Adidas-Salomon

AG.

2,373,705

43,876

Allianz

AG.

7,893,487

123,285

BASF

SE

5,531,877

75,705

Bayerische

Motoren

Werke

AG.

5,942,227

41,358

Beiersdorf

AG.

3,970,169

9,703

Brenntag

AG.

588,742

19,676

Carl

Zeiss

Meditec

AG.

2,381,645

126,848

Daimler

AG.

(Registered)

7,342,159

32,851

Deutsche

Boerse

AG.

5,342,218

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

GERMANY—continued

37,149

HeidelbergCement

AG.

$

1,708,363

14,717

\*

HelloFresh

SE

294,181

52,206

Henkel

KGaA

3,064,758

47,964

Henkel

KGaA

(Preference)

3,021,662

30,073

Merck

KGaA

4,900,846

23,367

MTU

Aero

Engines

Holding

AG.

4,181,715

18,228

Muenchener

Rueckver

AG.

4,811,750

9,891

Puma

AG.

Rudolf

Dassler

Sport

437,289

124,993

SAP

AG.

12,030,921

89,699

Siemens

AG.

9,795,934

16,248

Symrise

AG.

1,658,474

538,456

Telefonica

Deutschland

Holding

AG.

1,173,241

TOTAL

GERMANY

88,445,363

HONG

KONG

-

.4

%

1,159,400

AIA

Group

Ltd

8,782,212

366,500

CLP

Holdings

Ltd

2,459,875

276,781

Hang

Seng

Bank

Ltd

3,896,462

79,000

HKT

Trust

and

HKT

Ltd

89,344

115,638

Hong

Kong

Exchanges

and

Clearing

Ltd

3,069,449

429,230

Link

REIT

2,537,012

800,731

MTR

Corp

3,523,368

262,468

Swire

Pacific

Ltd

(Class

A)

1,741,084

598,200

Swire

Properties

Ltd

1,149,689

TOTAL

HONG

KONG

27,248,495

IRELAND

-

.0

%

161,306

CRH

plc

5,809,891

50,414

Kerry

Group

plc

(Class

A)

4,378,700

25,708

Smurfit

Kappa

Group

plc

851,010

TOTAL

IRELAND

11,039,601

ISRAEL

-

.4

%

460,463

Bank

Hapoalim

Ltd

4,438,520

TOTAL

ISRAEL

4,438,520

ITALY

-

.9

%

65,306

Amplifon

S.p.A.

1,622,459

318,670

Assicurazioni

Generali

S.p.A.

4,782,312

106,174

Coca-Cola

HBC

AG.

2,319,191

1,470,778

Enel

S.p.A.

6,570,476

3,259,185

Intesa

Sanpaolo

S.p.A.

6,213,726

TOTAL

ITALY

21,508,164

JAPAN

-

.1

%

58,500

Aeon

Co

Ltd

1,091,059

155,900

Ajinomoto

Co,

Inc

4,287,750

50,714

\*

All

Nippon

Airways

Co

Ltd

985,815

137,300

Asahi

Kasei

Corp

880,356

228,100

Astellas

Pharma,

Inc

3,147,365

6,400

Azbil

Corp

173,924

178,965

Chugai

Pharmaceutical

Co

Ltd

4,146,951

9,127

Dai

Nippon

Printing

Co

Ltd

182,820

9,400

Daifuku

Co

Ltd

430,284

261,000

Daiichi

Sankyo

Co

Ltd

8,354,808

25,075

Daikin

Industries

Ltd

3,755,914

93,649

Daiwa

House

Industry

Co

Ltd

1,886,778

84,532

East

Japan

Railway

Co

4,504,318

54,348

Eisai

Co

Ltd

3,277,355

1,055,200

ENEOS

Holdings,

Inc

3,480,741

17,700

\*

Fanuc

Ltd

2,316,074

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

5,300

Fast

Retailing

Co

Ltd

$

2,952,848

72,300

Fujifilm

Holdings

Corp

3,307,716

43,372

Fujitsu

Ltd

4,990,319

95,816

Hankyu

Hanshin

Holdings,

Inc

2,845,806

21,900

\*

Hitachi

Construction

Machinery

Co

Ltd

428,452

70,141

Hulic

Co

Ltd

509,528

51,300

Ibiden

Co

Ltd

1,729,187

375,950

Inpex

Holdings,

Inc

3,794,236

178,500

JFE

Holdings,

Inc

1,635,259

44,200

JSR

Corp

839,845

77,100

Kao

Corp

2,879,834

252,596

KDDI

Corp

7,465,972

3,600

Keio

Corp

126,218

22,700

Keisei

Electric

Railway

Co

Ltd

602,505

25,446

Keyence

Corp

9,594,797

70,700

Kikkoman

Corp

3,831,236

46,365

Kintetsu

Corp

1,566,900

104,100

Komatsu

Ltd

2,039,339

109,572

Kubota

Corp

1,528,485

8,600

Kurita

Water

Industries

Ltd

314,803

48,200

Kyowa

Hakko

Kogyo

Co

Ltd

1,135,191

34,500

LIXIL

Group

Corp

521,132

497,600

Marubeni

Corp

4,355,947

20,100

MEIJI

Holdings

Co

Ltd

827,097

154,279

Mitsubishi

Chemical

Holdings

Corp

696,932

227,079

Mitsubishi

Corp

6,151,315

214,126

Mitsubishi

Estate

Co

Ltd

2,692,697

7,000

Mitsui

Chemicals,

Inc

129,563

236,000

Mitsui

Fudosan

Co

Ltd

4,519,014

44,200

MS&AD

Insurance

Group

Holdings

Inc

1,170,469

60,500

Murata

Manufacturing

Co

Ltd

2,864,035

59,201

NEC

Corp

1,959,606

5,600

NGK

Insulators

Ltd

65,330

151,040

Nintendo

Co

Ltd

6,132,087

18,500

Nippon

Express

Holdings,

Inc

929,586

172,000

Nippon

Paint

Co

Ltd

1,096,160

275,754

Nippon

Steel

Corp

3,782,937

147,000

e

Nippon

Yusen

Kabushiki

Kaisha

2,662,825

32,913

Nissin

Food

Products

Co

Ltd

2,130,421

27,900

Nitto

Denko

Corp

1,469,932

715,700

\*

Nomura

Holdings,

Inc

2,315,975

21,100

Nomura

Real

Estate

Holdings,

Inc

476,940

111,200

Nomura

Research

Institute

Ltd

2,460,878

48,485

Obayashi

Corp

311,209

44,521

Odakyu

Electric

Railway

Co

Ltd

529,263

14,600

Omron

Corp

680,920

71,200

Ono

Pharmaceutical

Co

Ltd

1,675,589

38,782

Oriental

Land

Co

Ltd

5,193,981

241,600

ORIX

Corp

3,548,546

92,900

Osaka

Gas

Co

Ltd

1,375,635

20,800

Otsuka

Corp

655,036

386,006

Panasonic

Corp

2,749,371

125,129

Recruit

Holdings

Co

Ltd

3,850,365

635,100

Resona

Holdings,

Inc

2,393,661

6,224

Sekisui

Chemical

Co

Ltd

77,726

17,563

Sekisui

House

Ltd

291,595

74,200

SG

Holdings

Co

Ltd

983,231

29,300

Shimadzu

Corp

771,846

18,468

Shimizu

Corp

92,155

42,500

Shin-Etsu

Chemical

Co

Ltd

4,417,022

61,300

Shionogi

&

Co

Ltd

2,846,603

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

85,000

Shiseido

Co

Ltd

$

2,935,662

419,800

Softbank

Corp

4,141,070

25,600

Sompo

Holdings,

Inc

1,067,323

152,615

Sony

Corp

10,291,537

75,400

Sumisho

Computer

Systems

Corp

1,112,411

470,700

Sumitomo

Chemical

Co

Ltd

1,584,968

122,671

Sumitomo

Metal

Mining

Co

Ltd

3,438,570

141,000

Sumitomo

Mitsui

Trust

Holdings,

Inc

4,056,431

73,300

Suntory

Beverage

&

Food

Ltd

2,452,375

32,100

Sysmex

Corp

1,727,746

78,900

TDK

Corp

2,464,706

79,300

Terumo

Corp

2,406,676

23,900

Tokyo

Electron

Ltd

6,288,005

38,100

Tokyo

Gas

Co

Ltd

680,904

30,400

Tokyu

Corp

350,527

150,400

Toray

Industries,

Inc

730,545

5,724

Toto

Ltd

163,264

1,168,275

\*

Toyota

Motor

Corp

16,209,347

94,900

Uni-Charm

Corp

2,884,146

28,800

West

Japan

Railway

Co

1,141,821

12,270

Yamaha

Corp

463,245

156,800

Yamaha

Motor

Co

Ltd

3,236,752

16,486

Yaskawa

Electric

Corp

456,486

34,098

Yokogawa

Electric

Corp

570,156

1,289,600

Z

Holdings

Corp

3,328,145

TOTAL

JAPAN

253,058,238

KOREA,

REPUBLIC

OF

-

.2

%

67,008

\*,g

Delivery

Hero

AG.

2,205,159

TOTAL

KOREA,

REPUBLIC

OF

2,205,159

NETHERLANDS

-

.4

%

923,937

Aegon

NV

4,277,050

13,763

Akzo

Nobel

NV

849,665

42,357

ASML

Holding

NV

19,869,101

17,823

DSM

NV

2,096,525

138,530

Koninklijke

Ahold

Delhaize

NV

3,863,362

392,350

Koninklijke

KPN

NV

1,097,444

81,907

NN

Group

NV

3,468,142

15,278

Randstad

Holdings

NV

761,443

20,742

Wolters

Kluwer

NV

2,204,014

TOTAL

NETHERLANDS

38,486,746

NEW

ZEALAND

-

.4

%

167,333

\*

Auckland

International

Airport

Ltd

748,049

147,799

Mercury

NZ

Ltd

499,751

176,761

Meridian

Energy

Ltd

501,046

48,013

Telecom

Corp

of

New

Zealand

Ltd

142,923

52,549

\*

Xero

Ltd

2,609,514

TOTAL

NEW

ZEALAND

4,501,283

NORWAY

-

.4

%

33,006

e

Aker

BP

ASA

1,048,480

179,494

Equinor

ASA

6,539,634

118,241

Mowi

ASA

1,764,839

599,235

Norsk

Hydro

ASA

3,802,937

301,625

Orkla

ASA

2,034,508

77,234

Telenor

ASA

701,892

TOTAL

NORWAY

15,892,290

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

PORTUGAL

-

.3

%

276,523

Energias

de

Portugal

S.A.

$

1,208,216

264,084

Galp

Energia

SGPS

S.A.

2,681,270

TOTAL

PORTUGAL

3,889,486

SINGAPORE

-

.8

%

604,508

Capitaland

Investment

Ltd

1,285,574

145,168

CapitaMall

Trust

192,660

49,700

City

Developments

Ltd

267,963

296,591

DBS

Group

Holdings

Ltd

7,170,474

242,404

\*

Grab

Holdings

Ltd

630,250

389,500

Keppel

Corp

Ltd

1,917,126

381,800

Oversea-Chinese

Banking

Corp

3,277,403

567,195

\*,e

Singapore

Airlines

Ltd

2,103,900

36,200

Singapore

Exchange

Ltd

215,268

688,000

Singapore

Technologies

Engineering

Ltd

1,603,958

937,425

Singapore

Telecommunications

Ltd

1,650,566

40,800

UOL

Group

Ltd

178,206

TOTAL

SINGAPORE

20,493,348

SPAIN

-

.3

%

1,206,913

Banco

Bilbao

Vizcaya

Argentaria

S.A.

6,226,208

862,093

Iberdrola

S.A.

8,766,859

173,323

e

Industria

De

Diseno

Textil

S.A.

3,934,120

76,625

Naturgy

Energy

Group

S.A.

1,966,391

18,137

Red

Electrica

Corp

S.A.

293,379

378,065

Repsol

YPF

S.A.

5,143,372

TOTAL

SPAIN

26,330,329

SWEDEN

-

.0

%

236,633

Assa

Abloy

AB

4,778,110

342,813

Atlas

Copco

AB

3,658,928

456,274

Atlas

Copco

AB

4,412,698

122,697

Boliden

AB

3,568,139

10,733

e

Electrolux

AB

132,415

153,811

Essity

AB

3,249,773

96,857

e

Hennes

&

Mauritz

AB

(B

Shares)

975,559

16,030

Holmen

AB

581,735

30,581

Husqvarna

AB

(B

Shares)

181,564

129,308

Sandvik

AB

2,020,663

83,068

Skanska

AB

(B

Shares)

1,291,819

47,299

SKF

AB

(B

Shares)

684,682

145,363

Svenska

Cellulosa

AB

(B

Shares)

1,714,961

85,007

Tele2

AB

(B

Shares)

696,719

905,615

e

TeliaSonera

AB

2,399,667

262,393

Volvo

AB

(B

Shares)

4,294,567

TOTAL

SWEDEN

34,641,999

SWITZERLAND

-

.3

%

256,267

ABB

Ltd

7,116,611

39,488

Adecco

S.A.

1,235,815

45,245

Clariant

AG.

727,124

4,405

Geberit

AG.

1,958,187

1,048

Givaudan

S.A.

3,130,312

17,439

Kuehne

&

Nagel

International

AG.

3,712,173

12,445

Lonza

Group

AG.

6,406,486

907

SGS

S.A.

1,999,491

26,395

Sika

AG.

5,951,432

16,041

Sonova

Holdings

AG

3,791,509

9,617

Swiss

Life

Holding

4,656,764

6,684

Swisscom

AG.

3,300,486

506,668

UBS

Group

AG

8,032,791

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

SWITZERLAND—continued

20,857

Zurich

Insurance

Group

AG

$

8,888,709

TOTAL

SWITZERLAND

60,907,890

UNITED

KINGDOM

-

.6

%

342,246

3i

Group

plc

4,558,156

75,875

Ashtead

Group

plc

3,952,558

182,119

Associated

British

Foods

plc

2,822,712

164,784

AstraZeneca

plc

19,334,456

250,567

Barratt

Developments

plc

1,080,717

13,766

Berkeley

Group

Holdings

plc

547,713

2,315,589

BP

plc

12,811,231

239,677

British

Land

Co

plc

1,005,418

1,924,138

BT

Group

plc

2,867,409

186,352

Burberry

Group

plc

3,883,035

347,072

CNH

Industrial

NV

4,490,097

88,682

\*

Coca-Cola

European

Partners

plc

(Class

A)

4,172,488

312,173

Compass

Group

plc

6,574,930

39,851

Croda

International

plc

3,087,238

10,324

DCC

plc

572,991

2,359,443

HSBC

Holdings

plc

12,108,778

630,980

Informa

plc

4,020,552

74,191

InterContinental

Hotels

Group

plc

3,986,335

22,639

Intertek

Group

plc

948,414

640,345

J

Sainsbury

plc

1,427,388

57,739

Johnson

Matthey

plc

1,281,667

92,142

Kingfisher

plc

231,501

155,413

Land

Securities

Group

plc

1,016,228

1,760,327

Legal

&

General

Group

plc

4,709,332

66,716

London

Stock

Exchange

Group

plc

5,783,076

606,526

National

Grid

plc

6,608,171

8,732

Next

plc

493,180

148,566

Pearson

plc

1,642,117

35,168

Persimmon

plc

526,249

295,807

RELX

plc

7,945,519

267,905

Schroders

plc

1,202,895

185,409

Scottish

&

Southern

Energy

plc

3,313,421

320,369

Segro

plc

2,883,321

147,275

St.

James's

Place

plc

1,798,455

724,585

Standard

Chartered

plc

4,329,204

974,688

Standard

Life

Aberdeen

plc

1,776,057

693,589

Taylor

Wimpey

plc

745,697

1,989,956

Tesco

plc

4,914,953

5,131,785

Vodafone

Group

plc

5,990,855

66,922

Whitbread

plc

1,969,654

284,301

WPP

plc

2,501,890

TOTAL

UNITED

KINGDOM

155,916,058

UNITED

STATES

-

.3

%

188,469

Computershare

Ltd

3,050,944

52,211

CSL

Ltd

9,346,573

47,946

Ferguson

plc

5,228,927

546,758

GSK

plc

8,956,486

85,109

James

Hardie

Industries

NV

1,858,183

277,112

Nestle

S.A.

30,166,080

70,152

Roche

Holding

AG.

23,276,302

73,471

Schneider

Electric

S.A.

9,290,871

Portfolio

of

investments

Social

Choice

International

Equity

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

See

notes

to

financial

statements

concluded

SHARES

COMPANY

VALUE

UNITED

STATES—continued

57,335

Swiss

Re

Ltd

$

4,259,117

TOTAL

UNITED

STATES

95,433,483

TOTAL

COMMON

STOCKS

1,125,646,537

(Cost

$1,269,634,431)

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

1.8%

REPURCHASE

AGREEMENT

-

.1

%

$

12,535,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

%

11/01/22

12,535,000

TOTAL

REPURCHASE

AGREEMENT

12,535,000

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.7

%

8,340,302

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

8,340,302

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

8,340,302

TOTAL

SHORT-TERM

INVESTMENTS

20,875,302

(Cost

$20,875,302)

TOTAL

INVESTMENTS

-

100.1%

1,146,521,839

(Cost

$1,290,509,733)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(697,737)

NET

ASSETS

-

100.0%

$

1,145,824,102

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$10,299,306.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$12,535,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$12,785,727.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

MSCI

EAFE

Index

12/16/22

$

11,748,072

$

11,940,120

$

192,048

TIAA-CREF

Funds

October

31,

2022

Statements

of

assets

and

liabilities

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

2.1 Growth

&

Income

Fund

2.2 Large-Cap

Growth

Fund

2.3 Large-Cap

Value

Fund

ASSETS

Portfolio

investments,

at

value

\*†

$

5,153,165,518

$

4,723,034,049

$

4,971,522,600

Affiliated

investments,

at

value

‡

–

–

–

Cash

926

4,217

4,999

Cash

-

foreign

^

–

–

–

Receivable

from

securities

transactions

60,677,562

12,178,361

–

Receivable

from

Fund

shares

sold

191,878

362,688

233,405

Dividends

and

interest

receivable

10,622,534

2,748,371

3,630,184

Due

from

affiliates

720,320

800,674

812,110

Receivable

for

variation

margin

on

open

futures

contracts

–

–

–

Other

994,020

887,103

870,798

Total

assets

5,226,372,758

4,740,015,463

4,977,074,096

LIABILITIES

Management

fees

payable

1,692,094

1,593,613

1,612,217

Service

agreement

fees

payable

83,570

57,892

97,665

Distribution

fees

payable

265,029

196,713

37,130

Due

to

affiliates

13,132

12,811

12,570

Overdraft

payable

–

–

–

Payable

for

collateral

for

securities

loaned

5,687,120

31,045

–

Payable

for

securities

transactions

38,984,275

5,854,007

–

Payable

for

Fund

shares

redeemed

38,434,083

34,796,878

52,793,698

Written

options

◊

22,758,881

–

–

Payable

for

trustee

compensation

316,820

213,097

329,373

Accrued

expenses

and

other

payables

256,672

252,174

145,077

Total

liabilities

108,491,676

43,008,230

55,027,730

NET

ASSETS

$

5,117,881,082

$

4,697,007,233

$

4,922,046,366

NET

ASSETS

CONSIST

OF:

Paid-in-capital

$

3,047,371,331

$

3,678,206,211

$

3,240,824,314

Total

distributable

earnings

(loss)

2,070,509,751

1,018,801,022

1,681,222,052

NET

ASSETS

$

5,117,881,082

$

4,697,007,233

$

4,922,046,366

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

2.4 Mid-Cap

Growth

Fund

2.5 Mid-Cap

Value

Fund

2.6 Quant

Small-Cap

Equity

Fund

2.7 Quant

Small/Mid-

Cap

Equity

Fund

2.8 Social

Choice

Equity

Fund

2.9 Social

Choice

Low

Carbon

Equity

Fund

3.01 Emerging

Markets

Equity

Fund

$

1,105,435,877

$

1,790,910,440

$

2,820,415,582

$

1,259,425,398

$

6,070,169,629

$

1,072,659,873

$

1,516,043,498

–

–

–

–

–

–

52,972,059

647

4,847

–

2,056

–

–

2,497

–

–

–

–

–

–

3,865,365

4,647,542

15,905,442

–

11,089,506

221,772

531,580

27,433,638

88,529

87,989

596,153

720,105

827,102

600,185

18,784,875

61,408

6,847,815

1,065,512

1,031,871

5,646,241

1,063,730

732,262

–

7,304

215,231

347,042

74,776

–

951,588

–

–

1,419,381

–

855,461

298,828

–

300,060

505,690

183,774

14,599

188,967

7,492

227,386

1,110,534,063

1,814,269,527

2,823,895,633

1,272,630,577

6,077,983,948

1,075,161,688

1,621,013,168

413,195

645,648

886,160

438,504

737,168

215,673

1,094,209

60,295

94,841

73,948

53,199

171,481

107,794

13,856

38,521

46,231

33,048

3,642

122,097

11,575

2,354

7,349

8,096

9,991

8,214

13,174

7,214

8,499

–

–

1,383,867

–

983,142

242,167

–

26,810,407

3,846,798

77,524,561

20,239,769

9,483,974

550,934

765,300

159,260

–

–

–

–

–

46,299,651

344,890

547,654

10,722,061

17,324,299

1,969,755

2,127,489

328,543

–

–

–

–

–

–

–

124,638

292,095

181,026

13,226

182,722

6,362

58,707

89,231

92,566

126,978

103,483

624,907

136,801

592,967

28,047,786

5,573,929

90,941,640

38,184,336

14,288,420

3,406,009

49,164,086

$

1,082,486,277

$

1,808,695,598

$

2,732,953,993

$

1,234,446,241

$

6,063,695,528

$

1,071,755,679

$

1,571,849,082

$

1,240,213,150

$

1,470,507,605

$

2,309,503,774

$

1,043,711,131

$

4,174,875,799

$

1,039,562,726

$

2,256,914,181

(157,726,873)

338,187,993

423,450,219

190,735,110

1,888,819,729

32,192,953

(685,065,099)

$

1,082,486,277

$

1,808,695,598

$

2,732,953,993

$

1,234,446,241

$

6,063,695,528

$

1,071,755,679

$

1,571,849,082

Statements

of

assets

and

liabilities

TIAA-CREF

Funds

October

31,

2022

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

continued

continued

2.1 Growth

&

Income

Fund

2.2 Large-Cap

Growth

Fund

2.3 Large-Cap

Value

Fund

INSTITUTIONAL

CLASS:

Net

assets

$

1,358,311,169

$

1,294,221,621

$

1,825,968,110

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

99,990,645

78,224,830

92,532,952

Net

asset

value

per

share

$

.58

$

.54

$

.73

ADVISOR

CLASS:

Net

assets

$

3,048,063

$

3,714,700

$

498,256

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

224,196

224,811

25,281

Net

asset

value

per

share

$

.60

$

.52

$

.71

PREMIER

CLASS:

Net

assets

$

8,396,278

$

11,302,720

$

67,184,909

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

616,553

684,206

3,413,716

Net

asset

value

per

share

$

.62

$

.52

$

.68

RETIREMENT

CLASS:

Net

assets

$

406,032,974

$

272,488,464

$

485,219,004

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

29,115,426

16,686,477

24,718,674

Net

asset

value

per

share

$

.95

$

.33

$

.63

RETAIL

CLASS:

Net

assets

$

1,292,439,366

$

936,049,112

$

144,800,959

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

62,973,857

56,966,615

7,757,558

Net

asset

value

per

share

$

.52

$

.43

$

.67

CLASS

W:

Net

assets

$

2,049,653,232

$

2,179,230,616

$

2,398,375,128

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

150,961,399

131,322,690

121,146,134

Net

asset

value

per

share

$

.58

$

.59

$

.80

\*

Includes

securities

loaned

of

$

13,936,134

$

1,002,170

$

–

†

Portfolio

investments,

cost

$

3,372,081,027

$

3,624,430,440

$

3,536,243,769

‡

Affiliated

investments,

cost

$

–

$

–

$

–

^

Foreign

cash,

cost

$

–

$

–

$

–

◊

Written

options

premiums

$

25,628,220

$

–

$

–

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

2.4 Mid-Cap

Growth

Fund

2.5 Mid-Cap

Value

Fund

2.6 Quant

Small-Cap

Equity

Fund

2.7 Quant

Small/Mid-

Cap

Equity

Fund

2.8 Social

Choice

Equity

Fund

2.9 Social

Choice

Low

Carbon

Equity

Fund

3.01 Emerging

Markets

Equity

Fund

$

591,704,905

$

1,089,731,373

$

1,557,567,397

$

67,644,847

$

4,583,693,160

$

473,328,760

$

187,604,872

35,592,525

62,454,702

93,375,020

5,210,178

197,551,113

28,235,631

29,060,833

$

.62

$

.45

$

.68

$

.98

$

.20

$

.76

$

.46

$

178,566

$

465,008

$

1,006,155

$

14,374,862

$

40,920,003

$

8,364,240

$

179,734

10,770

26,693

60,351

1,105,966

1,766,298

499,951

27,813

$

.58

$

.42

$

.67

$

.00

$

.17

$

.73

$

.46

$

28,493,747

$

53,550,735

$

59,269,925

$

130,587

$

69,975,849

$

6,136,069

$

7,296,235

1,736,971

3,076,918

3,583,708

10,000

3,032,347

365,808

1,129,033

$

.40

$

.40

$

.54

$

.06

$

.08

$

.77

$

.46

$

291,902,509

$

468,266,605

$

368,657,119

$

258,943,212

$

805,464,706

$

530,048,216

$

62,446,090

18,559,086

27,107,125

22,996,673

20,091,936

34,145,777

31,829,768

9,719,554

$

.73

$

.27

$

.03

$

.89

$

.59

$

.65

$

.42

$

170,206,550

$

196,681,877

$

129,747,145

$

17,928,984

$

563,641,810

$

53,878,394

$

6,239,052

10,855,429

11,780,163

8,232,162

1,393,249

27,970,479

3,233,195

968,639

$

.68

$

.70

$

.76

$

.87

$

.15

$

.66

$

.44

$

–

$

–

$

616,706,252

$

875,423,749

$

–

$

–

$

1,308,083,099

–

–

36,883,220

67,097,950

–

–

201,147,226

$

–

$

–

$

.72

$

.05

$

–

$

–

$

.50

$

40,613,118

$

3,931,284

$

88,030,233

$

30,408,210

$

11,981,504

$

780,701

$

1,869,031

$

1,168,343,551

$

1,678,550,686

$

2,542,853,853

$

1,142,725,253

$

4,419,391,802

$

1,043,071,479

$

1,976,930,776

$

–

$

–

$

–

$

–

$

–

$

–

$

37,780,011

$

–

$

–

$

–

$

–

$

–

$

–

$

3,867,385

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Statements

of

assets

and

liabilities

TIAA-CREF

Funds

October

31,

2022

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

continued

continued

3.1 International

Equity

Fund

3.2 International

Opportunities

Fund

3.3 Quant

International

Small-

Cap

Equity

Fund

ASSETS

Portfolio

investments,

at

value

\*†

$

6,216,434,428

$

2,401,946,880

$

1,264,100,038

Cash

6,804

62,114,356

–

Cash

-

foreign

^

874,712

186,428

4,561,426

Receivable

from

securities

transactions

454,326

29,889,142

26,688,169

Receivable

from

Fund

shares

sold

23,767,819

287,500

7,955,186

Dividends

and

interest

receivable

22,207,974

5,921,541

6,199,596

Due

from

affiliates

1,259,432

904,545

716,198

Receivable

for

variation

margin

on

open

futures

contracts

–

–

–

Other

864,209

347,986

18,546

Total

assets

6,265,869,704

2,501,598,378

1,310,239,159

LIABILITIES

Management

fees

payable

2,229,142

958,406

638,481

Service

agreement

fees

payable

65,324

21,814

1,780

Distribution

fees

payable

48,538

2,353

Due

to

affiliates

13,079

9,563

8,436

Overdraft

payable

–

–

3,894,475

Payable

for

collateral

for

securities

loaned

92,693

63,841,720

75,121,549

Payable

for

securities

transactions

454,161

28,820,581

32,858,418

Payable

for

Fund

shares

redeemed

4,174,217

21,053,556

1,722,755

Payable

for

trustee

compensation

320,551

52,045

17,294

Accrued

expenses

and

other

payables

291,336

1,301,999

804,218

Total

liabilities

7,689,041

116,062,037

115,067,586

NET

ASSETS

$

6,258,180,663

$

2,385,536,341

$

1,195,171,573

NET

ASSETS

CONSIST

OF:

Paid-in-capital

$

6,513,402,724

$

2,956,740,912

$

1,464,882,659

Total

distributable

earnings

(loss)

(255,222,061)

(571,204,571)

(269,711,086)

NET

ASSETS

$

6,258,180,663

$

2,385,536,341

$

1,195,171,573

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

3.4 Social

Choice

International

Equity

Fund

$

1,146,521,839

55,636

183,406

541,262

3,026,800

4,659,109

–

192,331

7,690

1,155,188,073

278,643

94,361

4,423

7,289

–

8,340,302

180,113

282,810

6,047

169,983

9,363,971

$

1,145,824,102

$

1,278,967,588

(133,143,486)

$

1,145,824,102

Statements

of

assets

and

liabilities

TIAA-CREF

Funds

October

31,

2022

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

continued

continued

3.1 International

Equity

Fund

3.2 International

Opportunities

Fund

3.3 Quant

International

Small-

Cap

Equity

Fund

INSTITUTIONAL

CLASS:

Net

assets

$

2,255,903,960

$

130,896,542

$

66,810,385

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

212,154,793

10,477,740

7,750,342

Net

asset

value

per

share

$

.63

$

.49

$

.62

ADVISOR

CLASS:

Net

assets

$

2,268,453

$

61,618,807

$

63,070

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

208,654

4,938,736

7,321

Net

asset

value

per

share

$

.87

$

.48

$

.61

PREMIER

CLASS:

Net

assets

$

57,289,280

$

2,269,143

$

63,962

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

5,398,931

181,212

7,327

Net

asset

value

per

share

$

.61

$

.52

$

.73

RETIREMENT

CLASS:

Net

assets

$

314,089,167

$

96,691,483

$

8,463,392

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

28,397,025

7,764,831

983,737

Net

asset

value

per

share

$

.06

$

.45

$

.60

RETAIL

CLASS:

Net

assets

$

201,686,579

$

36,527,474

$

823,580

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

30,919,736

2,927,128

95,598

Net

asset

value

per

share

$

.52

$

.48

$

.62

CLASS

W:

Net

assets

$

3,426,943,224

$

2,057,532,892

$

1,118,947,184

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

320,393,246

164,465,373

128,741,357

Net

asset

value

per

share

$

.70

$

.51

$

.69

\*

Includes

securities

loaned

of

$

486,506

$

89,537,295

$

95,189,162

†

Portfolio

investments,

cost

$

6,338,106,908

$

2,231,449,067

$

1,437,802,203

^

Foreign

cash,

cost

$

882,424

$

188,088

$

4,562,204

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

concluded

3.4 Social

Choice

International

Equity

Fund

$

657,815,639

64,186,859

$

.25

$

8,599,935

839,998

$

.24

$

618,441

60,316

$

.25

$

457,543,626

44,868,087

$

.20

$

21,246,461

2,082,743

$

.20

$

–

–

$

–

$

10,299,306

$

1,290,509,733

$

184,974

TIAA-CREF

Funds

For

the

year

ended

October

31,

2022

Statements

of

operations

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

2.1 Growth

&

Income

Fund

2.2 Large-Cap

Growth

Fund

2.3 Large-Cap

Value

Fund

INVESTMENT

INCOME

Dividends

from

unaffiliated

investments\*

$

86,061,330

$

37,933,551

$

100,378,797

Dividends

from

affiliated

investments

–

–

–

Other

income

1,569,506

1,536,480

1,175,512

Interest

335,844

430,259

297,205

Income

from

securities

lending,

net

39,834

50,950

Total

income

88,006,514

39,951,240

101,851,622

EXPENSES

Management

fees

23,386,529

22,676,599

20,474,180

Shareholder

servicing

—

Institutional

Class

1,830

3,552

1,766

Shareholder

servicing

—

Advisor

Class

3,145

3,533

Shareholder

servicing

—

Premier

Class

Shareholder

servicing

—

Retirement

Class

1,195,137

882,861

1,226,191

Shareholder

servicing

—

Retail

Class

527,758

525,609

79,583

Shareholder

servicing

—

Class

W

1,876

2,196

2,034

Distribution

fees

—

Premier

Class

20,175

19,680

106,990

Distribution

fees

—

Retail

Class

3,640,937

2,902,077

374,413

Administrative

service

fees

149,087

146,336

139,032

Miscellaneous

expenses

134,294

135,278

100,287

Trustee

fees

and

expenses

73,927

72,067

62,894

Custody

and

accounting

fees

43,434

123,631

49,167

Other

expenses

175,644

310,711

194,576

Total

expenses

29,353,840

27,804,188

22,811,554

Less:

Expenses

reimbursed

by

the

investment

adviser

(9,312,164)

(10,223,699)

(10,502,910)

Less:

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

(1,227,599)

(1,535,230)

(71,739)

Net

expenses

18,814,077

16,045,259

12,236,905

Net

investment

income

(loss)

69,192,437

23,905,981

89,614,717

NET

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

ON

TOTAL

INVESTMENTS

Realized

gain

(loss):

Portfolio

investments†

361,826,110

(50,456,490)

211,927,323

Affiliated

investments

–

–

–

Purchased

options

34,828

–

–

Written

options

(15,972,128)

–

–

Futures

contracts

–

–

–

Foreign

currency

transactions

38,267

(59,138)

(1) Net

realized

gain

(loss)

on

total

investments

345,927,077

(50,515,628)

211,927,322

Change

in

unrealized

appreciation

(depreciation)

on:

Portfolio

investments

‡

(1,615,514,700)

(2,208,785,522)

(643,297,117)

Affiliated

investments

–

–

–

Purchased

options

91,225

–

–

Written

options

1,065,590

–

–

Futures

contracts

–

–

–

Unfunded

commitment

with

a

SPAC

(1,581,580)

(4,951,243)

–

Translation

of

assets

(other

than

portfolio

investments)

and

liabilities

denominated

in

foreign

currencies

(54,833)

(31,651)

(2,905)

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(1,615,994,298)

(2,213,768,416)

(643,300,022)

Net

realized

and

unrealized

gain

(loss)

on

total

investments

(1,270,067,221)

(2,264,284,044)

(431,372,700)

Net

increase

(decrease)

in

net

assets

from

operations

$

(1,200,874,784)

$

(2,240,378,063)

$

(341,757,983)

\*

Net

of

foreign

withholding

taxes

of

$

895,512

$

490,651

$

122,421

†

Includes

net

realized

gain

(loss)

from

securities

sold

to

affiliates

of

$

3,752,542

$

5,402,620

$

(523,942)

‡

Includes

net

change

in

unrealized

foreign

capital

gains

taxes

$

–

$

–

$

–

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

2.4 Mid-Cap

Growth

Fund

2.5 Mid-Cap

Value

Fund

2.6 Quant

Small-Cap

Equity

Fund

2.7 Quant

Small/Mid-

Cap

Equity

Fund

2.8 Social

Choice

Equity

Fund

2.9 Social

Choice

Low

Carbon

Equity

Fund

3.01 Emerging

Markets

Equity

Fund

$

10,557,057

$

44,004,001

$

34,331,702

$

16,559,330

$

101,866,256

$

15,189,988

$

34,575,377

–

–

–

–

–

–

898,257

402,733

503,208

–

–

–

–

392,228

66,172

81,093

297,154

70,727

266,245

124,455

1,210,937

2,121,960

35,203

710,155

115,309

531,322

66,934

60,996

13,147,922

44,623,505

35,339,011

16,745,366

102,663,823

15,381,377

37,137,795

6,306,954

8,591,651

11,054,262

4,769,160

10,157,824

2,658,264

12,421,283

1,749

1,595

2,156

542

8,348

672

501

15,991

40,615

9,410

27,769

948,049

1,306,997

984,603

407,898

2,280,389

1,319,231

211,246

107,459

122,897

73,550

15,810

148,931

24,158

11,592

–

–

903

1,003

–

–

1,212

58,427

91,467

97,347

128,818

9,291

13,965

527,793

525,919

340,738

45,452

1,546,864

145,476

20,291

83,720

90,429

110,995

90,940

148,124

79,859

95,559

42,219

42,856

94,968

83,389

1,739,290

334,859

120,705

17,840

24,175

33,769

13,002

83,761

12,858

17,979

66,173

26,249

47,213

19,864

63,182

30,883

534,651

179,835

123,335

158,640

168,781

236,747

156,949

165,068

8,340,339

10,948,052

12,999,710

5,632,135

16,610,662

4,781,949

13,614,061

–

–

(2,799,063)

(3,921,647)

–

–

(10,455,688)

(158,377)

(208,621)

(46,545)

(5,246)

(908,674)

(10,048)

(4,657)

8,181,962

10,739,431

10,154,102

1,705,242

15,701,988

4,771,901

3,153,716

4,965,960

33,884,074

25,184,909

15,040,124

86,961,835

10,609,476

33,984,079

(82,841,661)

219,214,048

151,598,769

72,717,774

202,165,491

(1,362,760)

(193,874,306)

–

–

–

–

–

–

(1,285,319)

–

–

–

–

–

–

(456,849)

–

–

–

–

–

–

442,134

–

–

(5,203,874)

–

(3,326,544)

(2,035,100)

–

(19,727)

–

–

–

–

–

(2,020,082)

(82,861,388)

219,214,048

146,394,895

72,717,774

198,838,947

(3,397,860)

(197,194,422)

(656,531,701)

(361,741,573)

(542,792,028)

(240,247,767)

(1,534,372,041)

(213,254,086)

(410,220,277)

–

–

–

–

–

–

28,771,998

–

–

–

–

–

–

160,849

–

–

–

–

–

–

(346,134)

–

–

1,141,306

–

(369,301)

211,542

–

(1,286,491)

–

–

–

–

–

(1,141,815)

(666) (2,267)

–

–

–

–

(38,058)

(657,818,858)

(361,743,840)

(541,650,722)

(240,247,767)

(1,534,741,342)

(213,042,544)

(382,813,437)

(740,680,246)

(142,529,792)

(395,255,827)

(167,529,993)

(1,335,902,395)

(216,440,404)

(580,007,859)

$

(735,714,286)

$

(108,645,718)

$

(370,070,918)

$

(152,489,869)

$

(1,248,940,560)

$

(205,830,928)

$

(546,023,780)

$

126,030

$

151,961

$

68,301

$

27,747

$

70,618

$

10,197

$

3,477,771

$

(602,409)

$

1,708,655

$

(233,020)

$

12,621,649

$

2,229,311

$

(1,445,398)

$

(4,571,494)

$

–

$

–

$

–

$

–

$

–

$

–

$

6,092,831

Statements

of

operations

TIAA-CREF

Funds

For

the

year

ended

October

31,

2022

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

continued

continued

3.1 International

Equity

Fund

3.2 International

Opportunities

Fund

3.3 Quant

International

Small-

Cap

Equity

Fund

INVESTMENT

INCOME

Dividends\*

$

159,542,776

$

35,526,159

$

52,149,753

Interest

3,553,183

1,092,061

8,242

Other

income

1,294,247

690,273

–

Income

from

securities

lending,

net

480,135

817,446

922,707

Total

income

164,870,341

38,125,939

53,080,702

EXPENSES

Management

fees

26,430,868

12,558,278

8,721,054

Shareholder

servicing

—

Institutional

Class

3,254

Shareholder

servicing

—

Advisor

Class

2,833

5,153

Shareholder

servicing

—

Premier

Class

Shareholder

servicing

—

Retirement

Class

961,200

315,820

16,254

Shareholder

servicing

—

Retail

Class

220,325

9,936

4,187

Shareholder

servicing

—

Class

W

2,239

2,119

1,322

Distribution

fees

—

Premier

Class

97,419

2,760

Distribution

fees

—

Retail

Class

600,097

19,587

2,464

Custody

and

accounting

fees

303,184

204,430

625,606

Miscellaneous

expenses

266,339

115,604

168,688

Administrative

service

fees

148,218

104,416

94,557

Trustee

fees

and

expenses

72,451

26,996

16,733

Other

expenses

249,540

175,448

181,868

Total

expenses

29,358,047

13,540,868

9,833,033

Less:

Expenses

reimbursed

by

the

investment

adviser

(12,793,530)

(11,757,393)

(9,150,491)

Less:

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

(165,739)

(2,224)

(737) Net

expenses

16,398,778

1,781,251

681,805

Net

investment

income

(loss)

148,471,563

36,344,688

52,398,897

NET

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

ON

TOTAL

INVESTMENTS

Realized

gain

(loss):

Portfolio

investments†

(42,492,101)

(60,684,700)

(118,383,426)

Futures

contracts

–

–

–

Foreign

currency

transactions

(4,256,509)

(768,442)

(1,470,384)

Net

realized

gain

(loss)

on

total

investments

(46,748,610)

(61,453,142)

(119,853,810)

Change

in

unrealized

appreciation

(depreciation)

on:

Portfolio

investments

‡

(1,754,425,143)

(774,784,686)

(332,402,093)

Futures

contracts

–

–

–

Unfunded

commitment

with

a

SPAC

–

(1,548,509)

–

Translation

of

assets

(other

than

portfolio

investments)

and

liabilities

denominated

in

foreign

currencies

(2,033,076)

(421,283)

(232,975)

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(1,756,458,219)

(776,754,478)

(332,635,068)

Net

realized

and

unrealized

gain

(loss)

on

total

investments

(1,803,206,829)

(838,207,620)

(452,488,878)

Net

increase

(decrease)

in

net

assets

from

operations

$

(1,654,735,266)

$

(801,862,932)

$

(400,089,981)

\*

Net

of

foreign

withholding

taxes

of

$

13,940,763

$

4,399,977

$

4,925,703

†

Includes

net

realized

gain

(loss)

from

securities

sold

to

affiliates

of

$

(1,290,896)

$

(2,627,855)

$

–

‡

Includes

net

change

in

unrealized

foreign

capital

gains

taxes

$

–

$

535,900

$

2,552,324

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

concluded

3.4 Social

Choice

International

Equity

Fund

$

34,157,700

139,848

–

157,506

34,455,054

3,208,506

1,141

4,119

1,082,631

9,572

–

1,044

57,016

120,673

326,292

79,896

12,839

172,055

5,075,822

–

(623) 5,075,199

29,379,855

(8,293,716)

(2,735,834)

(701,397)

(11,730,947)

(309,637,979)

188,417

–

(212,396)

(309,661,958)

(321,392,905)

$

(292,013,050)

$

3,385,347

$

(843,445)

$

–

TIAA-CREF

Funds

For

the

year

ended

Statements

of

changes

in

net

assets

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

2.1 Growth

&

Income

Fund

2.2 Large-Cap

Growth

Fund

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

OPERATIONS

Net

investment

income

(loss)

$

69,192,437

$

54,000,162

$

23,905,981

$

13,702,389

Net

realized

gain

(loss)

on

total

investments

345,927,077

1,147,204,185

(50,515,628)

680,728,381

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(1,615,994,298)

968,060,527

(2,213,768,416)

1,425,879,304

Net

increase

(decrease)

in

net

assets

from

operations

(1,200,874,784)

2,169,264,874

(2,240,378,063)

2,120,310,074

DISTRIBUTIONS

TO

SHAREHOLDERS

–

–

–

–

Institutional

Class

Institutional

Class

(334,083,998)

(87,394,774)

(192,317,971)

(495,708,886)

Advisor

Class

Advisor

Class

(606,524)

(208,090)

(577,503)

(1,539,583)

Premier

Class

Premier

Class

(3,432,406)

(1,731,230)

(1,463,684)

(4,254,808)

Retirement

Class

Retirement

Class

(94,135,347)

(33,793,862)

(43,322,452)

(124,055,271)

Retail

Class

Retail

Class

(196,234,351)

(64,749,459)

(137,102,651)

(348,213,454)

Class

W

Class

W

(461,944,683)

(205,798,767)

(309,387,667)

(848,095,442)

Total

distributions

(1,090,437,309)

(393,676,182)

(684,171,928)

(1,821,867,444)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

130,746,149

782,730,670

302,444,472

385,391,956

Advisor

Class

Advisor

Class

1,421,455

309,126

2,211,313

669,741

Premier

Class

Premier

Class

662,024

2,645,200

3,407,594

4,337,006

Retirement

Class

Retirement

Class

10,344,439

18,208,471

18,053,754

81,274,283

Retail

Class

Retail

Class

35,037,623

49,610,121

39,782,138

75,701,123

Class

W

Class

W

299,996,084

37,560,438

466,466,389

123,356,319

Reinvestments

of

distributions:

Institutional

Class

301,560,693

73,553,405

180,688,008

467,006,881

Advisor

Class

Advisor

Class

562,755

190,606

493,249

1,465,577

Premier

Class

Premier

Class

3,432,406

1,731,230

1,463,685

4,254,808

Retirement

Class

Retirement

Class

94,124,567

33,793,717

43,242,143

123,785,256

Retail

Class

Retail

Class

188,296,167

62,436,062

131,323,453

335,163,445

Class

W

Class

W

427,267,439

168,568,108

309,387,666

848,095,442

Redemptions:

Institutional

Class

(394,600,558)

(373,372,169)

(416,502,427)

(487,899,163)

Advisor

Class

Advisor

Class

(1,059,066)

(663,032)

(1,893,804)

(1,626,783)

Premier

Class

Premier

Class

(10,251,892)

(16,701,841)

(2,956,166)

(7,607,552)

Retirement

Class

Retirement

Class

(81,527,001)

(77,051,639)

(81,059,809)

(135,341,767)

Retail

Class

Retail

Class

(93,969,596)

(98,144,849)

(109,376,418)

(123,391,610)

Class

W

Class

W

(496,827,353)

(1,182,040,218)

(455,263,080)

(895,638,365)

Net

increase

(decrease)

from

shareholder

transactions

415,216,335

(516,636,594)

431,912,160

798,996,597

Net

increase

(decrease)

in

net

assets

(1,876,095,758)

1,258,952,098

(2,492,637,831)

1,097,439,227

NET

ASSETS

Beginning

of

period

6,993,976,840

5,735,024,742

7,189,645,064

6,092,205,837

End

of

period

$

5,117,881,082

$

6,993,976,840

$

4,697,007,233

$

7,189,645,064

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

8,490,053

41,130,698

14,981,051

15,911,051

Advisor

Class

Advisor

Class

89,305

17,543

96,786

25,860

Premier

Class

Premier

Class

42,495

150,602

173,974

164,652

Retirement

Class

Retirement

Class

641,804

1,008,183

895,853

3,163,521

Retail

Class

Retail

Class

1,492,125

1,947,335

1,916,865

3,042,601

Class

W

Class

W

20,899,113

2,060,517

24,427,453

4,815,547

Shares

reinvested:

Institutional

Class

17,832,373

4,562,328

7,531,805

21,353,767

Advisor

Class

Advisor

Class

33,263

11,840

20,569

67,044

Premier

Class

Premier

Class

201,823

107,584

61,012

194,550

Retirement

Class

Retirement

Class

5,413,062

2,059,271

1,822,257

5,709,652

Retail

Class

Retail

Class

7,365,804

2,740,235

5,499,306

15,367,420

Class

W

Class

W

25,074,381

10,575,164

12,901,904

38,796,681

Shares

redeemed:

Institutional

Class

(25,410,724)

(20,935,592)

(20,654,785)

(20,091,976)

Advisor

Class

Advisor

Class

(69,019)

(36,806)

(95,716)

(67,429)

Premier

Class

Premier

Class

(658,497)

(926,687)

(145,540)

(295,966)

Retirement

Class

Retirement

Class

(5,070,876)

(4,175,691)

(3,982,522)

(5,621,765)

Retail

Class

Retail

Class

(4,092,978)

(3,834,659)

(5,590,529)

(4,998,521)

Class

W

Class

W

(31,518,130)

(68,374,602)

(23,020,176)

(34,626,932)

Net

increase

(decrease)

from

shareholder

transactions

20,755,377

(31,912,737)

16,839,567

42,909,757

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

2.3 Large-Cap

Value

Fund

2.4 Mid-Cap

Growth

Fund

2.5 Mid-Cap

Value

Fund

2.6 Quant

Small-Cap

Equity

Fund

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

$

89,614,717

$

83,601,978

$

4,965,960

$

(5,791,365)

$

33,884,074

$

21,711,960

$

25,184,909

$

16,355,887

211,927,322

543,811,379

(82,861,388)

257,714,184

219,214,048

397,738,710

146,394,895

702,575,926

(643,300,022)

1,446,993,603

(657,818,858)

261,915,131

(361,743,840)

400,861,142

(541,650,722)

651,401,055

(341,757,983)

2,074,406,960

(735,714,286)

513,837,950

(108,645,718)

820,311,812

(370,070,918)

1,370,332,868

–

–

–

–

–

–

–

–

(161,742,151)

(31,869,814)

(134,690,840)

(90,478,166)

(170,159,847)

(21,604,109)

(269,851,404)

(9,177,672)

(44,549)

(5,188)

(931,396)

(668,349)

(56,615)

(7,452)

(138,589)

(3,304)

(6,636,926)

(1,269,479)

(7,531,626)

(4,580,207)

(9,782,982)

(1,192,312)

(14,094,339)

(373,242)

(43,186,223)

(8,037,304)

(67,266,961)

(49,900,869)

(77,513,516)

(7,509,518)

(80,710,971)

(1,834,410)

(13,747,293)

(2,126,306)

(37,659,248)

(29,683,392)

(30,834,956)

(2,969,487)

(28,111,334)

(551,591)

(246,579,754)

(65,314,927)

–

–

–

–

(140,015,877)

(7,896,457)

(471,936,896)

(108,623,018)

(248,080,071)

(175,310,983)

(288,347,916)

(33,282,878)

(532,922,514)

(19,836,676)

265,829,866

133,743,043

28,664,645

285,201,706

47,301,175

102,653,252

276,499,544

211,019,674

119,195

170,386

416,895

1,371,008

305,463

4,720

363,757

108,903

11,551,573

11,564,404

4,632,804

20,193,148

4,608,802

8,607,714

8,313,921

10,252,527

65,280,711

18,837,038

28,803,740

80,553,067

7,699,439

61,576,910

32,286,648

30,327,919

11,557,732

12,506,585

8,412,668

19,994,591

7,716,476

12,001,549

7,447,328

11,767,487

309,346,128

81,382,905

–

–

–

–

81,506,587

42,011,723

158,256,372

31,490,431

134,634,833

90,440,535

169,742,430

21,420,211

269,705,941

9,164,887

32,012

3,012

912,074

651,922

42,537

6,067

113,370

2,656

6,636,672

1,269,438

7,531,219

4,580,207

9,782,982

1,192,312

14,093,294

373,242

43,181,838

8,036,604

67,266,962

49,900,869

77,510,009

7,509,195

80,709,212

1,834,376

13,205,794

2,035,509

36,761,274

29,015,395

29,908,188

2,863,255

26,999,078

528,992

246,579,754

65,314,927

–

–

–

–

140,015,877

7,896,457

(206,536,421)

(369,295,243)

(146,023,493)

(168,814,551)

(185,727,442)

(359,226,765)

(80,106,200)

(489,074,188)

(93,069)

(41,325)

(6,181,152)

(891,041)

(218,577)

(212,777)

(30,180)

(76,326)

(16,550,354)

(32,686,335)

(15,540,024)

(13,771,847)

(21,121,777)

(34,328,113)

(19,937,097)

(31,691,061)

(65,540,839)

(107,738,380)

(62,640,317)

(70,837,763)

(98,836,684)

(91,313,211)

(57,477,667)

(103,114,220)

(10,815,715)

(14,965,663)

(24,714,782)

(29,958,137)

(22,257,535)

(36,475,804)

(15,032,455)

(16,054,273)

(608,893,695)

(1,061,723,390)

–

–

–

–

(206,193,627)

(283,701,500)

223,147,554

(1,220,096,054)

62,937,346

297,629,109

26,455,486

(303,721,485)

559,277,331

(598,422,725)

(590,547,325)

745,687,888

(920,857,011)

636,156,076

(370,538,148)

483,307,449

(343,716,101)

752,073,467

5,512,593,691

4,766,905,803

2,003,343,288

1,367,187,212

2,179,233,746

1,695,926,297

3,076,670,094

2,324,596,627

$

4,922,046,366

$

5,512,593,691

$

1,082,486,277

$

2,003,343,288

$

1,808,695,598

$

2,179,233,746

$

2,732,953,993

$

3,076,670,094

13,008,661

6,503,547

1,247,820

9,883,675

2,583,227

5,345,685

16,126,576

9,716,425

6,178

8,528

17,362

47,752

16,721

22,496

5,909

563,356

536,900

209,301

699,816

257,898

458,761

484,253

479,097

3,255,980

898,578

1,283,953

2,889,766

424,665

3,318,028

1,793,463

1,473,354

584,468

635,015

441,189

727,074

429,921

645,315

453,653

582,700

15,818,173

3,979,023

–

–

–

–

4,998,057

2,078,095

7,412,476

1,714,232

5,508,790

3,429,675

8,990,595

1,310,906

14,531,570

515,171

1,501

37,350

24,731

2,256

6,108

311,289

69,179

311,852

175,218

518,991

73,058

764,693

21,111

2,029,223

438,679

2,903,192

1,976,272

4,138,281

462,674

4,513,938

106,341

652,460

116,316

1,591,397

1,151,862

1,652,387

181,679

1,535,785

31,081

11,554,815

3,555,521

–

–

–

–

7,552,097

444,120

(9,941,840)

(17,841,580)

(7,303,974)

(5,866,070)

(9,973,040)

(18,377,912)

(4,335,640)

(23,044,317)

(4,880)

(2,248)

(289,345)

(30,436)

(11,901)

(12,049)

(1,966)

(4,592)

(810,031)

(1,602,722)

(760,805)

(484,359)

(1,162,654)

(1,815,137)

(1,179,900)

(1,544,420)

(3,210,189)

(5,248,982)

(3,446,493)

(2,560,111)

(5,469,080)

(4,725,896)

(3,446,184)

(4,993,607)

(562,701)

(766,639)

(1,294,532)

(1,088,806)

(1,284,057)

(1,999,040)

(899,152)

(816,558)

(29,324,906)

(52,397,924)

–

–

–

–

(11,393,795)

(13,880,048)

11,344,033

(59,404,413)

457,057

10,976,059

1,114,210

(15,133,259)

31,526,052

(28,829,988)

Statements

of

changes

in

net

assets

TIAA-CREF

Funds

For

the

year

ended

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

continued

continued

2.7 Quant

Small/Mid-Cap

Equity

Fund

2.8 Social

Choice

Equity

Fund

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

OPERATIONS

Net

investment

income

(loss)

$

15,040,124

$

12,620,554

$

86,961,835

$

74,412,793

Net

realized

gain

(loss)

on

total

investments

72,717,774

201,940,527

198,838,947

631,961,028

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(240,247,767)

285,824,548

(1,534,741,342)

1,654,641,553

Net

increase

(decrease)

in

net

assets

from

operations

(152,489,869)

500,385,629

(1,248,940,560)

2,361,015,374

DISTRIBUTIONS

TO

SHAREHOLDERS

–

–

–

–

Institutional

Class

Institutional

Class

(10,543,842)

(972,771)

(507,547,892)

(63,889,184)

Advisor

Class

Advisor

Class

(1,671,229)

(41,428)

(4,791,532)

(566,039)

Premier

Class

Premier

Class

(43,542)

(2,337)

(9,768,722)

(1,238,365)

Retirement

Class

Retirement

Class

(18,326,059)

(488,125)

(87,918,098)

(10,248,378)

Retail

Class

Retail

Class

(3,347,480)

(122,412)

(68,248,252)

(7,105,313)

Class

W

Class

W

(162,456,600)

(19,278,776)

–

–

Total

distributions

(196,388,752)

(20,905,849)

(678,274,496)

(83,047,279)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

27,012,964

13,886,678

679,611,546

696,604,927

Advisor

Class

Advisor

Class

11,493,848

7,119,108

5,596,223

10,334,840

Premier

Class

Premier

Class

8,643

70,966

13,799,464

16,013,623

Retirement

Class

Retirement

Class

191,972,746

62,865,538

30,641,791

51,452,894

Retail

Class

Retail

Class

8,296,946

9,661,220

60,548,759

77,460,588

Class

W

Class

W

235,490,837

126,119,942

–

–

Reorganization

(see

note

1):

Institutional

Class

–

–

–

–

Advisor

Class

Advisor

Class

–

–

–

–

Retail

Class

Retail

Class

–

–

–

–

Class

W

Class

W

–

–

–

–

Reinvestments

of

distributions:

Institutional

Class

10,538,161

972,316

486,234,335

60,468,392

Advisor

Class

Advisor

Class

1,639,747

38,963

3,750,561

435,562

Premier

Class

Premier

Class

12,150

9,616,910

1,227,440

Retirement

Class

Retirement

Class

18,322,925

487,893

87,902,705

10,245,670

Retail

Class

Retail

Class

3,167,605

120,042

65,619,749

6,801,862

Class

W

Class

W

162,456,600

19,278,776

–

–

Redemptions:

Institutional

Class

(14,019,893)

(18,628,361)

(888,621,580)

(667,792,560)

Advisor

Class

Advisor

Class

(4,545,705)

(1,417,232)

(10,581,744)

(8,496,664)

Premier

Class

Premier

Class

(67,861)

(3,809)

(39,671,922)

(31,114,377)

Retirement

Class

Retirement

Class

(4,910,103)

(11,483,568)

(101,768,473)

(105,437,378)

Retail

Class

Retail

Class

(5,028,032)

(3,393,558)

(70,851,820)

(61,232,792)

Class

W

Class

W

(213,407,482)

(276,158,178)

–

–

Net

increase

(decrease)

from

shareholder

transactions

428,434,096

(70,463,258)

331,826,504

56,972,027

Net

increase

(decrease)

in

net

assets

79,555,475

409,016,522

(1,595,388,552)

2,334,940,122

NET

ASSETS

Beginning

of

period

1,154,890,766

745,874,244

7,659,084,080

5,324,143,958

End

of

period

$

1,234,446,241

$

1,154,890,766

$

6,063,695,528

$

7,659,084,080

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

2,031,284

931,096

26,193,208

26,180,624

Advisor

Class

Advisor

Class

817,462

452,442

214,091

387,748

Premier

Class

Premier

Class

610

4,052

532,765

613,684

Retirement

Class

Retirement

Class

14,111,284

3,879,239

1,167,869

1,933,918

Retail

Class

Retail

Class

562,167

588,662

2,648,384

3,286,419

Class

W

Class

W

17,755,879

9,509,833

–

–

Reorganization

(see

note

1):

Institutional

Class

—

—

—

—

Advisor

Class

Advisor

Class

–

–

–

–

Retail

Class

Retail

Class

–

–

–

–

Class

W

Class

W

–

–

–

–

Shares

reinvested:

Institutional

Class

711,077

72,184

17,427,754

2,526,886

Advisor

Class

Advisor

Class

110,421

2,886

134,525

18,217

Premier

Class

Premier

Class

814

–

346,056

51,465

Retirement

Class

Retirement

Class

1,243,075

36,356

3,091,900

420,767

Retail

Class

Retail

Class

215,044

8,945

2,702,625

322,364

Class

W

Class

W

10,954,592

1,429,116

–

–

Shares

redeemed:

Institutional

Class

(988,785)

(1,138,328)

(35,014,554)

(24,722,204)

Advisor

Class

Advisor

Class

(340,481)

(85,408)

(414,757)

(318,166)

Premier

Class

Premier

Class

(5,247)

(229)

(1,544,503)

(1,152,836)

Retirement

Class

Retirement

Class

(328,664)

(695,708)

(4,009,215)

(3,746,722)

Retail

Class

Retail

Class

(359,687)

(216,970)

(3,214,352)

(2,595,645)

Class

W

Class

W

(14,575,649)

(16,804,505)

–

–

Net

increase

(decrease)

from

shareholder

transactions

31,915,196

(2,026,337)

10,261,796

3,206,519

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

2.9 Social

Choice

Low

Carbon

Equity

Fund

3.01 Emerging

Markets

Equity

Fund

3.1 International

Equity

Fund

3.2 International

Opportunities

Fund

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

$

10,609,476

$

6,412,317

$

33,984,079

$

20,457,506

$

148,471,563

$

189,906,334

$

36,344,688

$

26,370,670

(3,397,860)

52,853,893

(197,194,422)

295,825,710

(46,748,610)

153,969,123

(61,453,142)

180,194,408

(213,042,544)

182,378,351

(382,813,437)

(258,918,981)

(1,756,458,219)

1,372,051,106

(776,754,478)

337,744,281

(205,830,928)

241,644,561

(546,023,780)

57,364,235

(1,654,735,266)

1,715,926,563

(801,862,932)

544,309,359

–

–

–

–

–

–

–

–

(25,369,815)

(5,334,207)

(57,149,105)

(27,194,444)

(78,121,349)

(32,194,161)

(12,354,356)

(3,386,116)

(392,122)

(37,812)

(32,120)

(17,018)

(80,609)

(38,781)

(464,051)

(114,492)

(353,066)

(89,062)

(2,048,469)

(863,824)

(2,007,432)

(789,476)

(67,149)

(10,930)

(29,391,640)

(5,039,612)

(19,011,896)

(11,602,050)

(11,150,380)

(4,316,468)

(13,180,758)

(4,385,253)

(3,402,491)

(536,250)

(1,747,210)

(802,316)

(11,664,129)

(4,327,792)

(703,812)

(151,722)

–

–

(261,412,650)

(104,871,081)

(96,863,433)

(35,398,089)

(203,729,522)

(52,658,909)

(58,909,134)

(11,036,943)

(341,401,450)

(145,350,733)

(199,887,332)

(77,064,767)

(230,499,648)

(60,707,422)

225,663,997

198,885,213

51,872,443

94,627,075

397,769,775

328,835,919

26,529,785

44,422,405

5,005,498

4,678,899

190,001

–

559,376

9,913

6,350,328

106,531

1,590,092

2,245,217

1,022,624

3,573,063

10,081,202

14,667,654

2,406,932

65,921

108,015,414

213,049,624

6,369,796

10,587,581

22,741,969

46,133,753

1,391,678

9,297,878

12,428,543

33,134,252

2,106,674

3,105,511

6,822,574

8,162,975

2,683,186

3,041,602

–

–

736,055,178

457,552,027

1,411,129,296

1,033,299,497

464,581,709

578,910,844

–

–

–

–

–

–

21,358,920

–

–

–

–

–

–

–

52,653,335

–

–

–

–

–

–

–

29,505,285

–

–

–

–

–

–

–

360,050,363

–

19,079,440

3,219,592

57,149,105

27,194,444

73,939,350

30,709,663

12,354,256

3,386,116

370,080

34,084

5,799

2,896

76,281

37,137

448,767

110,125

320,111

78,842

2,046,257

862,627

2,007,432

789,417

28,580

29,390,504

5,039,268

19,009,686

11,600,853

11,150,053

4,316,323

13,179,220

4,384,817

3,341,379

529,625

1,707,178

783,574

11,137,143

4,164,562

688,189

149,949

–

–

261,412,650

104,871,081

96,863,433

35,398,089

203,729,523

52,658,909

(109,525,821)

(63,080,281)

(73,621,431)

(89,806,824)

(254,136,131)

(507,702,082)

(15,686,155)

(53,008,116)

(1,779,612)

(300,579)

(83,207)

(454)

(691,357)

(849,177)

(475,597)

(293,485)

(539,660)

(859,534)

(1,314,333)

(1,600,686)

(9,807,232)

(43,612,992)

(13,696)

(3,605)

(5,673,242)

(3,236,812)

(16,269,473)

(31,395,093)

(62,428,214)

(95,239,367)

(30,428,952)

(37,133,199)

(9,477,384)

(6,856,766)

(2,637,789)

(1,699,045)

(20,426,949)

(22,242,154)

(1,758,640)

(1,285,178)

–

–

(261,953,506)

(439,996,709)

(329,829,265)

(424,136,087)

(251,578,035)

(384,473,943)

278,209,339

386,560,644

783,067,652

150,261,921

1,366,958,736

412,743,043

897,998,981

220,337,670

13,469,277

617,168,262

(104,357,578)

62,275,423

(487,663,862)

2,051,604,839

(134,363,599)

703,939,607

1,058,286,402

441,118,140

1,676,206,660

1,613,931,237

6,745,844,525

4,694,239,686

2,519,899,940

1,815,960,333

$

1,071,755,679

$

1,058,286,402

$

1,571,849,082

$

1,676,206,660

$

6,258,180,663

$

6,745,844,525

$

2,385,536,341

$

2,519,899,940

12,217,458

10,244,338

6,576,268

7,186,803

33,823,666

23,908,021

1,720,240

2,356,074

257,725

236,653

24,644

–

47,398

666

492,704

5,660

85,087

121,130

127,351

256,752

815,790

1,044,589

151,295

3,572

5,806,424

11,352,490

770,394

779,485

1,767,094

3,236,535

92,630

500,323

646,443

1,760,489

256,070

227,077

886,963

954,838

188,107

165,044

–

–

96,610,410

35,775,404

130,258,327

76,325,961

31,181,323

30,442,021

—

—

—

—

—

—

1,697,847

—

–

–

–

–

–

–

4,192,145

–

–

–

–

–

–

–

2,349,147

–

–

–

–

–

–

–

28,598,123

–

939,411

191,187

6,287,030

2,017,392

5,311,735

2,431,486

743,067

193,382

18,240

2,025

636

5,357

2,875

28,435

6,296

15,729

4,673

224,863

63,945

144,316

62,553

2,169

1,453,537

300,314

2,100,518

864,445

768,439

328,237

787,831

251,279

165,170

31,544

187,808

58,172

1,301,068

527,160

41,216

8,573

–

–

28,789,939

7,791,313

6,948,596

2,798,268

12,406,777

3,005,646

(6,004,414)

(3,313,130)

(8,938,105)

(6,709,714)

(20,613,377)

(37,122,016)

(1,077,062)

(2,843,764)

(99,286)

(15,545)

(11,980)

(33)

(56,802)

(59,305)

(30,553)

(15,032)

(30,280)

(44,846)

(156,811)

(114,108)

(764,750)

(3,304,435)

(995)

(208)

(318,448)

(159,556)

(1,944,866)

(2,324,309)

(4,974,263)

(6,575,673)

(2,014,103)

(1,972,237)

(509,775)

(358,583)

(314,784)

(126,274)

(2,724,032)

(2,584,314)

(116,497)

(68,781)

–

–

(30,280,297)

(32,148,875)

(26,768,058)

(30,946,083)

(17,529,734)

(20,411,726)

14,643,021

20,353,183

100,309,088

13,597,689

126,177,467

31,029,363

63,904,112

11,626,127

Statements

of

changes

in

net

assets

TIAA-CREF

Funds

For

the

year

ended

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

3.3 Quant

International

Small-Cap

Equity

Fund

3.4 Social

Choice

International

Equity

Fund

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

OPERATIONS

Net

investment

income

(loss)

$

52,398,897

$

30,492,326

$

29,379,855

$

20,402,002

Net

realized

gain

(loss)

on

total

investments

(119,853,810)

220,394,014

(11,730,947)

11,576,075

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(332,635,068)

106,477,374

(309,661,958)

165,995,801

Net

increase

(decrease)

in

net

assets

from

operations

(400,089,981)

357,363,714

(292,013,050)

197,973,878

DISTRIBUTIONS

TO

SHAREHOLDERS

–

–

–

–

Institutional

Class

Institutional

Class

(5,395,633)

(1,268,142)

(17,567,457)

(6,126,216)

Advisor

Class

Advisor

Class

(5,296)

(1,574)

(82,867)

(20,438)

Premier

Class

Premier

Class

(5,210)

(1,472)

(22,335)

(7,327)

Retirement

Class

Retirement

Class

(267,685)

(70,771)

(11,639,118)

(2,794,652)

Retail

Class

Retail

Class

(60,769)

(14,355)

(648,843)

(158,750)

Class

W

Class

W

(97,600,960)

(27,780,465)

–

–

Total

distributions

(103,335,553)

(29,136,779)

(29,960,620)

(9,107,383)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

10,412,826

23,096,217

386,940,795

150,759,120

Advisor

Class

Advisor

Class

–

–

9,767,041

1,028,850

Premier

Class

Premier

Class

–

–

78,149

376,232

Retirement

Class

Retirement

Class

7,229,214

1,552,842

190,021,816

157,333,490

Retail

Class

Retail

Class

75,837

217,740

12,210,822

11,860,819

Class

W

Class

W

168,518,734

346,760,366

–

–

Reinvestments

of

distributions:

Institutional

Class

5,394,899

1,267,923

11,047,222

3,943,381

Advisor

Class

Advisor

Class

–

–

63,694

18,561

Premier

Class

Premier

Class

–

–

9,913

4,242

Retirement

Class

Retirement

Class

267,572

70,739

11,638,754

2,794,500

Retail

Class

Retail

Class

59,813

14,221

634,425

155,211

Class

W

Class

W

97,600,960

27,780,465

–

–

Redemptions:

Institutional

Class

(8,392,506)

(8,313,017)

(112,953,530)

(56,774,439)

Advisor

Class

Advisor

Class

–

–

(2,476,276)

(146,523)

Premier

Class

Premier

Class

–

–

(32,711)

(216,406)

Retirement

Class

Retirement

Class

(1,306,110)

(1,369,442)

(1,070,872)

(451,363)

Retail

Class

Retail

Class

(80,518)

(105,920)

(6,540,478)

(4,529,964)

Class

W

Class

W

(160,256,693)

(121,608,379)

–

–

Net

increase

(decrease)

from

shareholder

transactions

119,524,028

269,363,755

499,338,764

266,155,711

Net

increase

(decrease)

in

net

assets

(383,901,506)

597,590,690

177,365,094

455,022,206

NET

ASSETS

Beginning

of

period

1,579,073,079

981,482,389

968,459,008

513,436,802

End

of

period

$

1,195,171,573

$

1,579,073,079

$

1,145,824,102

$

968,459,008

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

1,015,089

1,918,136

32,956,696

11,540,221

Advisor

Class

Advisor

Class

–

–

895,856

79,864

Premier

Class

Premier

Class

–

–

6,715

29,335

Retirement

Class

Retirement

Class

719,058

134,319

15,949,816

12,128,287

Retail

Class

Retail

Class

6,966

18,209

989,522

919,767

Class

W

Class

W

17,098,702

28,537,923

–

–

Shares

reinvested:

Institutional

Class

477,425

121,332

837,545

328,889

Advisor

Class

Advisor

Class

–

–

4,833

1,548

Premier

Class

Premier

Class

–

–

750

Retirement

Class

Retirement

Class

23,679

6,769

885,076

233,654

Retail

Class

Retail

Class

5,279

1,357

48,209

12,967

Class

W

Class

W

8,621,993

2,655,876

–

–

Shares

redeemed:

Institutional

Class

(806,177)

(738,954)

(9,861,747)

(4,376,717)

Advisor

Class

Advisor

Class

–

–

(245,872)

(11,594)

Premier

Class

Premier

Class

–

–

(2,912)

(16,300)

Retirement

Class

Retirement

Class

(130,592)

(116,343)

(91,973)

(36,699)

Retail

Class

Retail

Class

(7,647)

(9,005)

(542,892)

(348,385)

Class

W

Class

W

(15,191,250)

(10,541,298)

–

–

Net

increase

(decrease)

from

shareholder

transactions

11,832,525

21,988,321

41,829,622

20,485,190

TIAA-CREF

Funds

Financial

highlights

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.1 GROWTH

&

INCOME

FUND

Institutional

Class:

10/31/22

$

.07

$

.17

$

(3

.24)

$

(3

.07)

$

(0

.17)

$

(3

.25)

$

(3

.42)

$

.58

10/31/21

.16

.14

.97

.11

(0

.16)

(1

.04)

(1

.20)

.07

10/31/20

.63

.17

.33

.50

(0

.21)

(0

.76)

(0

.97)

.16

10/31/19

.44

.21

.20

.41

(0

.18)

(1

.04)

(1

.22)

.63

10/31/18

.34

.17

.62

.79

(0

.15)

(0

.54)

(0

.69)

.44

Advisor

Class:

10/31/22

.09

.15

(3

.23)

(3

.08)

(0

.16)

(3

.25)

(3

.41)

.60

10/31/21

.17

.12

.99

.11

(0

.15)

(1

.04)

(1

.19)

.09

10/31/20

.64

.15

.33

.48

(0

.19)

(0

.76)

(0

.95)

.17

10/31/19

.45

.20

.19

.39

(0

.16)

(1

.04)

(1

.20)

.64

10/31/18

.34

.15

.64

.79

(0

.14)

(0

.54)

(0

.68)

.45

Premier

Class:

10/31/22

.11

.14

(3

.23)

(3

.09)

(0

.15)

(3

.25)

(3

.40)

.62

10/31/21

.19

.11

.99

.10

(0

.14)

(1

.04)

(1

.18)

.11

10/31/20

.65

.15

.33

.48

(0

.18)

(0

.76)

(0

.94)

.19

10/31/19

.45

.19

.20

.39

(0

.15)

(1

.04)

(1

.19)

.65

10/31/18

.35

.14

.63

.77

(0

.13)

(0

.54)

(0

.67)

.45

Retirement

Class:

10/31/22

.51

.13

(3

.31)

(3

.18)

(0

.13)

(3

.25)

(3

.38)

.95

10/31/21

.47

.09

.11

.20

(0

.12)

(1

.04)

(1

.16)

.51

10/31/20

.91

.13

.36

.49

(0

.17)

(0

.76)

(0

.93)

.47

10/31/19

.69

.18

.22

.40

(0

.14)

(1

.04)

(1

.18)

.91

10/31/18

.57

.13

.64

.77

(0

.11)

(0

.54)

(0

.65)

.69

Retail

Class:

10/31/22

.59

.20

(4

.90)

(4

.70)

(0

.12)

(3

.25)

(3

.37)

.52

10/31/21

.14

.12

.46

.58

(0

.09)

(1

.04)

(1

.13)

.59

10/31/20

.02

.17

.86

.03

(0

.15)

(0

.76)

(0

.91)

.14

10/31/19

.30

.23

.65

.88

(0

.12)

(1

.04)

(1

.16)

.02

10/31/18

.94

.16

.83

.99

(0

.09)

(0

.54)

(0

.63)

.30

Class

W:

10/31/22

.07

.23

(3

.23)

(3

.00)

(0

.24)

(3

.25)

(3

.49)

.58

10/31/21

.16

.21

.98

.19

(0

.24)

(1

.04)

(1

.28)

.07

10/31/20

.64

.22

.32

.54

(0

.26)

(0

.76)

(1

.02)

.16

10/31/19

.45

.27

.19

.46

(0

.23)

(1

.04)

(1

.27)

.64

10/31/18

†

.93

.01

(1

.49)

(1

.48)

—

—

—

.45

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(18

.53)

%

$

1,358,311

.41

%

.40

%

.08

%

%

.33

1,988,937

.40

.40

.77

f

.81

1,126,795

.40

.40

.15

.94

1,409,853

.41

.40

.51

.61

1,688,858

.40

.40

.11

(18

.59)

3,048

.50

.50

.01

.23

3,428

.50

.50

.66

f

.70

2,701

.49

.49

.04

.83

2,075

.51

.50

.44

.56

.50

.50

.98

(18

.62)

8,396

.55

.55

.87

.08

20,731

.55

.55

.63

f

.67

25,805

.55

.55

.03

.74

44,314

.56

.55

.34

.52

132,573

.55

.55

.94

(18

.68)

406,033

.66

.65

.83

.96

577,096

.65

.65

.51

f

.50

452,343

.65

.65

.89

.67

497,202

.66

.65

.27

.39

553,819

.65

.65

.83

(18

.73)

1,292,439

.69

.62

.87

.97

1,664,005

.69

.69

.48

f

.50

1,212,620

.69

.69

.85

.60

1,199,088

.70

.69

.23

.32

1,162,488

.69

.69

.79

(18

.17)

2,049,653

.41

0.00 1

.49

.93

2,739,781

.40

0.00 1

.17

f

.21

2,914,760

.40

0.00 1

.53

.39

3,363,807

.41

0.00 1

.93

(9

.29)

b

3,027,314

.41

c

0.00 c

.95

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.2 LARGE-CAP

GROWTH

FUND

Institutional

Class:

10/31/22

$

.91

$

.06

$

(7

.91)

$

(7

.85)

$

(0

.03)

$

(2

.49)

$

(2

.52)

$

.54

10/31/21

.14

.02

.17

.19

(0

.11)

(8

.31)

(8

.42)

.91

10/31/20

.43

.08

.59

.67

(0

.09)

(0

.87)

(0

.96)

.14

10/31/19

.42

.11

.37

.48

(0

.12)

(2

.35)

(2

.47)

.43

10/31/18

.08

.12

.08

.20

(0

.10)

(0

.76)

(0

.86)

.42

Advisor

Class:

10/31/22

.88

.05

(7

.91)

(7

.86)

(0

.01)

(2

.49)

(2

.50)

.52

10/31/21

.12

.00

d

.17

.17

(0

.10)

(8

.31)

(8

.41)

.88

10/31/20

.41

.06

.59

.65

(0

.07)

(0

.87)

(0

.94)

.12

10/31/19

.40

.10

.37

.47

(0

.11)

(2

.35)

(2

.46)

.41

10/31/18

.06

.06

.11

.17

(0

.07)

(0

.76)

(0

.83)

.40

Premier

Class:

10/31/22

.88

.03

(7

.90)

(7

.87)

—

(2

.49)

(2

.49)

.52

10/31/21

.10

(0

.01)

.16

.15

(0

.06)

(8

.31)

(8

.37)

.88

10/31/20

.40

.05

.58

.63

(0

.06)

(0

.87)

(0

.93)

.10

10/31/19

.37

.08

.37

.45

(0

.07)

(2

.35)

(2

.42)

.40

10/31/18

.04

.08

.08

.16

(0

.07)

(0

.76)

(0

.83)

.37

Retirement

Class:

10/31/22

.63

.01

(7

.82)

(7

.81)

—

(2

.49)

(2

.49)

.33

10/31/21

.93

(0

.04)

.10

.06

(0

.05)

(8

.31)

(8

.36)

.63

10/31/20

.27

.02

.54

.56

(0

.03)

(0

.87)

(0

.90)

.93

10/31/19

.27

.06

.36

.42

(0

.07)

(2

.35)

(2

.42)

.27

10/31/18

.94

.05

.08

.13

(0

.04)

(0

.76)

(0

.80)

.27

Retail

Class:

10/31/22

.77

.02

(7

.87)

(7

.85)

—

(2

.49)

(2

.49)

.43

10/31/21

.03

(0

.05)

.14

.09

(0

.04)

(8

.31)

(8

.35)

.77

10/31/20

.34

.01

.57

.58

(0

.02)

(0

.87)

(0

.89)

.03

10/31/19

.33

.05

.36

.41

(0

.05)

(2

.35)

(2

.40)

.34

10/31/18

.00

.05

.08

.13

(0

.04)

(0

.76)

(0

.80)

.33

Class

W:

10/31/22

.00

.14

(7

.92)

(7

.78)

(0

.14)

(2

.49)

(2

.63)

.59

10/31/21

.24

.12

.19

.31

(0

.24)

(8

.31)

(8

.55)

.00

10/31/20

.50

.18

.61

.79

(0

.18)

(0

.87)

(1

.05)

.24

10/31/19

.43

.19

.37

.56

(0

.14)

(2

.35)

(2

.49)

.50

10/31/18

†

.77

.01

(2

.35)

(2

.34)

—

—

—

.43

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

d

Amount

represents

less

than

$0.01

per

share.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(32

.08)

%

$

1,294,222

.41

%

.40

%

.30

%

%

.36

2,055,310

.40

.40

.09

.43

1,606,751

.41

.40

.34

.60

1,333,235

.42

.41

.54

.30

1,122,258

.41

.41

.55

(32

.13)

3,715

.48

.47

.23

.25

5,462

.48

.48

.02

.33

4,820

.48

.48

.24

.55

2,995

.50

.50

.48

.19

7,303

.52

.52

.26

(32

.17)

11,303

.56

.55

.15

.18

15,987

.55

.55

(0

.06)

.22

14,407

.56

.55

.22

.45

19,839

.57

.56

.39

.11

19,249

.57

.57

.38

(32

.22)

272,488

.66

.65

.04

.99

477,945

.65

.65

(0

.16)

.08

395,851

.66

.65

.08

.35

309,694

.66

.66

.30

.03

343,094

.67

.67

.25

(32

.23)

936,049

.71

.62

.08

.96

1,476,126

.69

.69

(0

.20)

.05

1,127,972

.70

.70

.04

.25

991,814

.71

.71

.24

.97

986,875

.72

.72

.22

(31

.80)

2,179,231

.41

0.00 0

.70

.86

3,158,816

.40

0.00 0

.49

.94

2,942,406

.41

0.00 0

.75

.11

3,050,002

.41

0.00 0

.95

(9

.84)

b

2,671,086

.42

c

0.00 c

.42

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.3 LARGE-CAP

VALUE

FUND

Institutional

Class:

10/31/22

$

.14

$

.32

$

(1

.73)

$

(1

.41)

$

(0

.32)

$

(1

.68)

$

(2

.00)

$

.73

10/31/21

.01

.28

.20

.48

(0

.35)

—

(0

.35)

.14

10/31/20

.68

.33

(1

.62)

(1

.29)

(0

.38)

—

(0

.38)

.01

10/31/19

.98

.34

.23

.57

(0

.34)

(1

.53)

(1

.87)

.68

10/31/18

.56

.33

(0

.64)

(0

.31)

(0

.28)

(0

.99)

(1

.27)

.98

Advisor

Class:

10/31/22

.12

.31

(1

.74)

(1

.43)

(0

.30)

(1

.68)

(1

.98)

.71

10/31/21

.99

.26

.21

.47

(0

.34)

—

(0

.34)

.12

10/31/20

.67

.31

(1

.61)

(1

.30)

(0

.38)

—

(0

.38)

.99

10/31/19

.97

.33

.23

.56

(0

.33)

(1

.53)

(1

.86)

.67

10/31/18

.54

.32

(0

.63)

(0

.31)

(0

.27)

(0

.99)

(1

.26)

.97

Premier

Class:

10/31/22

.08

.29

(1

.73)

(1

.44)

(0

.28)

(1

.68)

(1

.96)

.68

10/31/21

.97

.24

.19

.43

(0

.32)

—

(0

.32)

.08

10/31/20

.63

.31

(1

.62)

(1

.31)

(0

.35)

—

(0

.35)

.97

10/31/19

.92

.32

.22

.54

(0

.30)

(1

.53)

(1

.83)

.63

10/31/18

.50

.30

(0

.64)

(0

.34)

(0

.25)

(0

.99)

(1

.24)

.92

Retirement

Class:

10/31/22

.03

.27

(1

.73)

(1

.46)

(0

.26)

(1

.68)

(1

.94)

.63

10/31/21

.93

.22

.19

.41

(0

.31)

—

(0

.31)

.03

10/31/20

.60

.29

(1

.63)

(1

.34)

(0

.33)

—

(0

.33)

.93

10/31/19

.88

.30

.23

.53

(0

.28)

(1

.53)

(1

.81)

.60

10/31/18

.46

.28

(0

.64)

(0

.36)

(0

.23)

(0

.99)

(1

.22)

.88

Retail

Class:

10/31/22

.99

.26

(1

.65)

(1

.39)

(0

.25)

(1

.68)

(1

.93)

.67

10/31/21

.23

.20

.86

.06

(0

.30)

—

(0

.30)

.99

10/31/20

.84

.26

(1

.54)

(1

.28)

(0

.33)

—

(0

.33)

.23

10/31/19

.22

.28

.17

.45

(0

.30)

(1

.53)

(1

.83)

.84

10/31/18

.78

.26

(0

.61)

(0

.35)

(0

.22)

(0

.99)

(1

.21)

.22

Class

W:

10/31/22

.22

.41

(1

.73)

(1

.32)

(0

.42)

(1

.68)

(2

.10)

.80

10/31/21

.07

.36

.22

.58

(0

.43)

—

(0

.43)

.22

10/31/20

.74

.39

(1

.61)

(1

.22)

(0

.45)

—

(0

.45)

.07

10/31/19

.98

.40

.25

.65

(0

.36)

(1

.53)

(1

.89)

.74

10/31/18

†

.54

.02

(1

.58)

(1

.56)

—

—

—

.98

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(6

.76)

%

$

1,825,968

.41

%

.41

%

.59

%

%

.32

1,898,837

.41

.40

.32

(7

.51)

1,467,747

.41

.40

.98

.23

1,922,604

.41

.39

.06

(1

.84)

2,427,959

.40

.40

.73

(6

.83)

.49

.49

.51

.30

520

.48

.48

.23

(7

.60)

.47

.46

.91

.17

.45

.43

.00

(1

.85)

.46

.45

.66

(6

.88)

67,185

.56

.56

.42

.06

77,309

.56

.55

.18

(7

.65)

69,391

.56

.55

.85

.10

130,723

.56

.54

.92

(2

.01)

209,131

.55

.55

.56

(7

.00)

485,219

.66

.66

.33

.01

521,413

.66

.65

.08

(7

.80)

423,110

.66

.65

.73

.03

579,719

.66

.64

.82

(2

.11)

750,194

.65

.65

.46

(6

.99)

144,801

.72

.67

.33

.88

155,733

.72

.71

.01

(7

.81)

108,093

.73

.72

.67

.92

132,317

.72

.70

.75

(2

.13)

130,587

.71

.70

.41

(6

.34)

2,398,375

.41

0.00 1

.99

.95

2,858,782

.41

0.00 1

.73

(7

.19)

2,698,308

.41

0.00 2

.37

.66

2,900,604

.41

0.00 2

.43

(7

.93)

b

2,706,272

.41

c

0.00 c

.56

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.4 MID-CAP

GROWTH

FUND

Institutional

Class:

10/31/22

$

.82

$

.09

$

(10

.55)

$

(10

.46)

$

—

$

(3

.74)

$

(3

.74)

$

.62

10/31/21

.15

(0

.06)

.91

.85

—

(3

.18)

(3

.18)

.82

10/31/20

.21

.00

d

.32

.32

(0

.04)

(2

.34)

(2

.38)

.15

10/31/19

.29

.04

.90

.94

(0

.08)

(2

.94)

(3

.02)

.21

10/31/18

.00

.09

.46

.55

(0

.13)

(2

.13)

(2

.26)

.29

Advisor

Class:

10/31/22

.79

.01

(10

.48)

(10

.47)

—

(3

.74)

(3

.74)

.58

10/31/21

.14

(0

.07)

.90

.83

—

(3

.18)

(3

.18)

.79

10/31/20

.20

(0

.08)

.39

.31

(0

.03)

(2

.34)

(2

.37)

.14

10/31/19

.28

.03

.90

.93

(0

.07)

(2

.94)

(3

.01)

.20

10/31/18

.99

.08

.45

.53

(0

.11)

(2

.13)

(2

.24)

.28

Premier

Class:

10/31/22

.51

.06

(10

.43)

(10

.37)

—

(3

.74)

(3

.74)

.40

10/31/21

.96

(0

.10)

.83

.73

—

(3

.18)

(3

.18)

.51

10/31/20

.05

(0

.03)

.28

.25

(0

.00)

d

(2

.34)

(2

.34)

.96

10/31/19

.14

.01

.89

.90

(0

.05)

(2

.94)

(2

.99)

.05

10/31/18

.85

.05

.46

.51

(0

.09)

(2

.13)

(2

.22)

.14

Retirement

Class:

10/31/22

.44

.04

(10

.01)

(9

.97)

—

(3

.74)

(3

.74)

.73

10/31/21

.21

(0

.13)

.54

.41

—

(3

.18)

(3

.18)

.44

10/31/20

.47

(0

.06)

.14

.08

—

(2

.34)

(2

.34)

.21

10/31/19

.63

(0

.01)

.81

.80

(0

.02)

(2

.94)

(2

.96)

.47

10/31/18

.35

.03

.45

.48

(0

.07)

(2

.13)

(2

.20)

.63

Retail

Class:

10/31/22

.36

.05

(9

.99)

(9

.94)

—

(3

.74)

(3

.74)

.68

10/31/21

.15

(0

.14)

.53

.39

—

(3

.18)

(3

.18)

.36

10/31/20

.44

(0

.07)

.12

.05

—

(2

.34)

(2

.34)

.15

10/31/19

.60

(0

.02)

.81

.79

(0

.01)

(2

.94)

(2

.95)

.44

10/31/18

.32

.01

.46

.47

(0

.06)

(2

.13)

(2

.19)

.60

a

Based

on

average

shares

outstanding.

d

Amount

represents

less

than

$0.01

per

share.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(37

.82)

%

$

591,705

.48

%

.48

%

.46

%

%

.33

1,113,795

.46

.46

(0

.20)

.16

721,712

.48

.48

(0

.02)

.93

761,182

.48

.48

.20

.29

759,278

.47

.47

.37

(37

.90)

.47

.47

.05

.26

7,557

.50

.50

(0

.24)

.09

5,113

.56

.56

(0

.32)

.87

.54

.54

.14

.22

.52

.52

.32

(37

.92)

28,494

.63

.63

.28

.11

60,298

.61

.61

(0

.35)

.03

39,582

.63

.63

(0

.16)

.70

52,210

.63

.63

.06

.13

71,504

.62

.62

.22

(37

.94)

291,903

.73

.73

.21

.93

524,637

.71

.71

(0

.46)

.91

375,489

.73

.73

(0

.28)

.61

350,839

.73

.73

(0

.05)

.04

352,638

.72

.72

.12

(37

.94)

170,207

.78

.70

.24

.93

297,057

.75

.75

(0

.50)

.80

225,291

.78

.78

(0

.33)

.56

198,852

.78

.78

(0

.10)

.99

179,846

.77

.77

.06

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.5 MID-CAP

VALUE

FUND

Institutional

Class:

10/31/22

$

.23

$

.33

$

(1

.23)

$

(0

.90)

$

(0

.23)

$

(2

.65)

$

(2

.88)

$

.45

10/31/21

.40

.21

.92

.13

(0

.30)

—

(0

.30)

.23

10/31/20

.40

.23

(2

.47)

(2

.24)

(0

.44)

(3

.32)

(3

.76)

.40

10/31/19

.30

.43

.87

.30

(0

.41)

(2

.79)

(3

.20)

.40

10/31/18

.81

.39

(0

.83)

(0

.44)

(0

.40)

(1

.67)

(2

.07)

.30

Advisor

Class:

10/31/22

.20

.31

(1

.23)

(0

.92)

(0

.21)

(2

.65)

(2

.86)

.42

10/31/21

.38

.20

.90

.10

(0

.28)

—

(0

.28)

.20

10/31/20

.37

.23

(2

.47)

(2

.24)

(0

.43)

(3

.32)

(3

.75)

.38

10/31/19

.28

.43

.84

.27

(0

.39)

(2

.79)

(3

.18)

.37

10/31/18

.77

.36

(0

.81)

(0

.45)

(0

.37)

(1

.67)

(2

.04)

.28

Premier

Class:

10/31/22

.18

.30

(1

.24)

(0

.94)

(0

.19)

(2

.65)

(2

.84)

.40

10/31/21

.37

.18

.90

.08

(0

.27)

—

(0

.27)

.18

10/31/20

.34

.21

(2

.46)

(2

.25)

(0

.40)

(3

.32)

(3

.72)

.37

10/31/19

.24

.39

.86

.25

(0

.36)

(2

.79)

(3

.15)

.34

10/31/18

.73

.35

(0

.81)

(0

.46)

(0

.36)

(1

.67)

(2

.03)

.24

Retirement

Class:

10/31/22

.04

.28

(1

.22)

(0

.94)

(0

.18)

(2

.65)

(2

.83)

.27

10/31/21

.28

.16

.86

.02

(0

.26)

—

(0

.26)

.04

10/31/20

.24

.20

(2

.45)

(2

.25)

(0

.39)

(3

.32)

(3

.71)

.28

10/31/19

.14

.38

.85

.23

(0

.34)

(2

.79)

(3

.13)

.24

10/31/18

.63

.32

(0

.81)

(0

.49)

(0

.33)

(1

.67)

(2

.00)

.14

Retail

Class:

10/31/22

.42

.27

(1

.17)

(0

.90)

(0

.17)

(2

.65)

(2

.82)

.70

10/31/21

.86

.15

.66

.81

(0

.25)

—

(0

.25)

.42

10/31/20

.76

.18

(2

.38)

(2

.20)

(0

.38)

(3

.32)

(3

.70)

.86

10/31/19

.70

.36

.83

.19

(0

.34)

(2

.79)

(3

.13)

.76

10/31/18

.19

.31

(0

.81)

(0

.50)

(0

.32)

(1

.67)

(1

.99)

.70

a

Based

on

average

shares

outstanding.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(5

.28)

%

$

1,089,731

.45

%

.45

%

.83

%

%

.13

1,291,813

.45

.44

.11

(14

.12)

1,045,293

.46

.43

.47

.32

1,881,808

.44

.40

.17

(2

.12)

2,312,195

.42

.39

.62

(5

.39)

.54

.54

.70

.96

.54

.54

.05

(14

.17)

.55

.53

.45

.18

879

.54

.49

.22

(2

.17)

.51

.48

.53

(5

.46)

53,551

.60

.60

.65

.84

73,331

.60

.59

.95

(14

.20)

68,187

.61

.58

.36

.11

124,254

.59

.55

.98

(2

.21)

207,370

.57

.54

.46

(5

.54)

468,267

.70

.70

.56

.70

589,412

.70

.69

.86

(14

.29)

413,497

.71

.68

.29

.01

590,795

.69

.65

.92

(2

.33)

716,431

.67

.64

.37

(5

.50)

196,682

.76

.70

.57

.65

224,262

.76

.75

.80

(14

.37)

168,504

.78

.76

.21

.96

230,989

.74

.70

.89

(2

.40)

243,079

.72

.69

.32

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.6 QUANT

SMALL-CAP

EQUITY

FUND

Institutional

Class:

10/31/22

$

.18

$

.15

$

(2

.62)

$

(2

.47)

$

(0

.12)

$

(3

.91)

$

(4

.03)

$

.68

10/31/21

.40

.10

.80

.90

(0

.12)

—

(0

.12)

.18

10/31/20

.59

.09

(1

.38)

(1

.29)

(0

.18)

(0

.72)

(0

.90)

.40

10/31/19

.77

.16

.55

.71

(0

.14)

(2

.75)

(2

.89)

.59

10/31/18

.69

.14

.06

.20

(0

.16)

(1

.96)

(2

.12)

.77

Advisor

Class:

10/31/22

.17

.14

(2

.62)

(2

.48)

(0

.11)

(3

.91)

(4

.02)

.67

10/31/21

.39

.08

.80

.88

(0

.10)

—

(0

.10)

.17

10/31/20

.56

.08

(1

.38)

(1

.30)

(0

.15)

(0

.72)

(0

.87)

.39

10/31/19

.75

.15

.53

.68

(0

.12)

(2

.75)

(2

.87)

.56

10/31/18

.67

.11

.08

.19

(0

.15)

(1

.96)

(2

.11)

.75

Premier

Class:

10/31/22

.01

.12

(2

.60)

(2

.48)

(0

.08)

(3

.91)

(3

.99)

.54

10/31/21

.30

.07

.73

.80

(0

.09)

—

(0

.09)

.01

10/31/20

.47

.07

(1

.37)

(1

.30)

(0

.15)

(0

.72)

(0

.87)

.30

10/31/19

.64

.14

.54

.68

(0

.10)

(2

.75)

(2

.85)

.47

10/31/18

.57

.10

.06

.16

(0

.13)

(1

.96)

(2

.09)

.64

Retirement

Class:

10/31/22

.43

.10

(2

.53)

(2

.43)

(0

.06)

(3

.91)

(3

.97)

.03

10/31/21

.94

.04

.53

.57

(0

.08)

—

(0

.08)

.43

10/31/20

.08

.06

(1

.35)

(1

.29)

(0

.13)

(0

.72)

(0

.85)

.94

10/31/19

.27

.12

.52

.64

(0

.08)

(2

.75)

(2

.83)

.08

10/31/18

.20

.08

.06

.14

(0

.11)

(1

.96)

(2

.07)

.27

Retail

Class:

10/31/22

.12

.10

(2

.49)

(2

.39)

(0

.06)

(3

.91)

(3

.97)

.76

10/31/21

.75

.04

.41

.45

(0

.08)

—

(0

.08)

.12

10/31/20

.87

.05

(1

.32)

(1

.27)

(0

.13)

(0

.72)

(0

.85)

.75

10/31/19

.08

.12

.50

.62

(0

.08)

(2

.75)

(2

.83)

.87

10/31/18

.00

.07

.07

.14

(0

.10)

(1

.96)

(2

.06)

.08

Class

W:

10/31/22

.25

.22

(2

.62)

(2

.40)

(0

.22)

(3

.91)

(4

.13)

.72

10/31/21

.43

.19

.81

.00

(0

.18)

—

(0

.18)

.25

10/31/20

.64

.14

(1

.37)

(1

.23)

(0

.26)

(0

.72)

(0

.98)

.43

10/31/19

.77

.23

.55

.78

(0

.16)

(2

.75)

(2

.91)

.64

10/31/18

†

.86

.00

d

(2

.09)

(2

.09)

—

—

—

.77

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

d

Amount

represents

less

than

$0.01

per

share.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(12

.42)

%

$

1,557,567

.42

%

.42

%

.87

%

%

.02

1,554,570

.41

.41

.49

f

(8

.35)

1,150,062

.43

.40

.65

.34

1,482,549

.42

.39

.01

.85

1,728,014

.41

.40

.68

(12

.48)

1,006

.48

.48

.81

.95

781

.48

.47

.40

f

(8

.46)

.50

.48

.58

.25

757

.52

.50

.89

.84

2,770

.48

.47

.58

(12

.58)

59,270

.57

.57

.72

.90

80,889

.56

.56

.31

f

(8

.57)

65,169

.58

.55

.49

.28

114,749

.57

.54

.85

.68

152,816

.56

.55

.51

(12

.65)

368,657

.67

.67

.61

.64

451,648

.66

.66

.22

f

(8

.61)

328,265

.68

.65

.40

.14

440,064

.67

.64

.76

.60

527,678

.66

.65

.40

(12

.67)

129,747

.72

.69

.60

.59

157,995

.72

.69

.18

f

(8

.61)

100,998

.74

.67

.38

.06

127,462

.72

.65

.74

.62

146,385

.71

.67

.38

(12

.05)

616,706

.42

0.00 1

.29

.73

830,786

.41

0.00 0

.88

f

(8

.01)

679,638

.42

0.00 0

.98

.78

778,275

.42

0.00 1

.40

(10

.02)

b

794,946

.41

c

0.00 c

(0

.30)

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.7 QUANT

SMALL/MID-CAP

EQUITY

FUND

Institutional

Class:

10/31/22

$

.26

$

.15

$

(2

.26)

$

(2

.11)

$

(0

.19)

$

(2

.98)

$

(3

.17)

$

.98

10/31/21

.43

.12

.96

.08

(0

.10)

(0

.15)

(0

.25)

.26

10/31/20

.29

.10

(0

.24)

(0

.14)

(0

.11)

(0

.61)

(0

.72)

.43

10/31/19

.43

.11

.08

.19

(0

.10)

(1

.23)

(1

.33)

.29

10/31/18

.38

.13

.60

.73

(0

.13)

(0

.55)

(0

.68)

.43

Advisor

Class:

10/31/22

.28

.12

(2

.25)

(2

.13)

(0

.17)

(2

.98)

(3

.15)

.00

10/31/21

.45

.10

.97

.07

(0

.09)

(0

.15)

(0

.24)

.28

10/31/20

.31

.08

(0

.23)

(0

.15)

(0

.10)

(0

.61)

(0

.71)

.45

10/31/19

.44

.11

.08

.19

(0

.09)

(1

.23)

(1

.32)

.31

10/31/18

.37

.07

.68

.75

(0

.13)

(0

.55)

(0

.68)

.44

Premier

Class:

10/31/22

.35

.13

(2

.28)

(2

.15)

(0

.16)

(2

.98)

(3

.14)

.06

10/31/21

.49

.09

.00

.09

(0

.08)

(0

.15)

(0

.23)

.35

10/31/20

.27

.08

(0

.24)

(0

.16)

(0

.01)

(0

.61)

(0

.62)

.49

10/31/19

.41

.09

.08

.17

(0

.08)

(1

.23)

(1

.31)

.27

10/31/18

.36

.09

.62

.71

(0

.11)

(0

.55)

(0

.66)

.41

Retirement

Class:

10/31/22

.16

.11

(2

.25)

(2

.14)

(0

.15)

(2

.98)

(3

.13)

.89

10/31/21

.38

.08

.93

.01

(0

.08)

(0

.15)

(0

.23)

.16

10/31/20

.24

.07

(0

.24)

(0

.17)

(0

.08)

(0

.61)

(0

.69)

.38

10/31/19

.39

.08

.07

.15

(0

.07)

(1

.23)

(1

.30)

.24

10/31/18

.34

.07

.63

.70

(0

.10)

(0

.55)

(0

.65)

.39

Retail

Class:

10/31/22

.12

.10

(2

.24)

(2

.14)

(0

.13)

(2

.98)

(3

.11)

.87

10/31/21

.36

.05

.92

.97

(0

.06)

(0

.15)

(0

.21)

.12

10/31/20

.21

.06

(0

.23)

(0

.17)

(0

.07)

(0

.61)

(0

.68)

.36

10/31/19

.37

.07

.06

.13

(0

.06)

(1

.23)

(1

.29)

.21

10/31/18

.32

.06

.63

.69

(0

.09)

(0

.55)

(0

.64)

.37

Class

W:

10/31/22

.36

.22

(2

.27)

(2

.05)

(0

.28)

(2

.98)

(3

.26)

.05

10/31/21

.48

.19

.99

.18

(0

.15)

(0

.15)

(0

.30)

.36

10/31/20

.34

.15

(0

.23)

(0

.08)

(0

.17)

(0

.61)

(0

.78)

.48

10/31/19

.44

.17

.07

.24

(0

.11)

(1

.23)

(1

.34)

.34

10/31/18

†

.81

.00

d

(1

.37)

(1

.37)

—

—

—

.44

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

d

Amount

represents

less

than

$0.01

per

share.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(13

.73)

%

$

67,645

.48

%

.48

%

.08

%

%

.76

63,132

.47

.47

.73

(1

.48)

41,061

.50

.50

.88

.20

43,317

.50

.50

.95

.02

34,106

.50

.50

.01

(13

.81)

14,375

.60

.60

.91

.57

9,481

.59

.59

.57

(1

.55)

1,702

.58

.58

.72

.18

.54

.54

.94

.19

1,789

.57

.57

.54

(13

.86)

.64

.64

.92

.45

.66

.66

.54

(1

.61)

.68

.68

.71

.04

.66

.66

.80

.89

1,241

.66

.66

.74

(13

.93)

258,943

.73

.73

.80

.34

91,997

.72

.72

.48

(1

.70)

21,008

.75

.75

.61

.89

11,950

.75

.75

.71

.83

10,728

.76

.76

.57

(13

.97)

17,929

.81

.78

.75

.02

17,683

.87

.87

.32

(1

.76)

6,757

.89

.89

.51

.67

5,765

.88

.88

.59

.77

5,699

.88

.87

.48

(13

.30)

875,424

.48

0.00 1

.55

.50

972,344

.47

0.00 1

.19

(0

.97)

675,231

.50

0.00 1

.37

.73

624,076

.50

0.00 1

.46

(9

.92)

b

593,204

.52

c

0.00 c

(0

.12)

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.8 SOCIAL

CHOICE

EQUITY

FUND

Institutional

Class:

10/31/22

$

.44

$

.34

$

(4

.89)

$

(4

.55)

$

(0

.33)

$

(2

.36)

$

(2

.69)

$

.20

10/31/21

.42

.31

.05

.36

(0

.30)

(0

.04)

(0

.34)

.44

10/31/20

.36

.31

.76

.07

(0

.33)

(0

.68)

(1

.01)

.42

10/31/19

.40

.34

.25

.59

(0

.31)

(1

.32)

(1

.63)

.36

10/31/18

.19

.33

.65

.98

(0

.31)

(0

.46)

(0

.77)

.40

Advisor

Class:

10/31/22

.40

.32

(4

.88)

(4

.56)

(0

.31)

(2

.36)

(2

.67)

.17

10/31/21

.39

.29

.05

.34

(0

.29)

(0

.04)

(0

.33)

.40

10/31/20

.34

.29

.75

.04

(0

.31)

(0

.68)

(0

.99)

.39

10/31/19

.39

.33

.24

.57

(0

.30)

(1

.32)

(1

.62)

.34

10/31/18

.18

.33

.64

.97

(0

.30)

(0

.46)

(0

.76)

.39

Premier

Class:

10/31/22

.29

.29

(4

.86)

(4

.57)

(0

.28)

(2

.36)

(2

.64)

.08

10/31/21

.32

.27

.01

.28

(0

.27)

(0

.04)

(0

.31)

.29

10/31/20

.27

.28

.74

.02

(0

.29)

(0

.68)

(0

.97)

.32

10/31/19

.33

.31

.23

.54

(0

.28)

(1

.32)

(1

.60)

.27

10/31/18

.11

.30

.66

.96

(0

.28)

(0

.46)

(0

.74)

.33

Retirement

Class:

10/31/22

.90

.28

(4

.97)

(4

.69)

(0

.26)

(2

.36)

(2

.62)

.59

10/31/21

.75

.25

.19

.44

(0

.25)

(0

.04)

(0

.29)

.90

10/31/20

.66

.26

.79

.05

(0

.28)

(0

.68)

(0

.96)

.75

10/31/19

.67

.30

.27

.57

(0

.26)

(1

.32)

(1

.58)

.66

10/31/18

.44

.29

.66

.95

(0

.26)

(0

.46)

(0

.72)

.67

Retail

Class:

10/31/22

.78

.24

(4

.25)

(4

.01)

(0

.26)

(2

.36)

(2

.62)

.15

10/31/21

.88

.21

.98

.19

(0

.25)

(0

.04)

(0

.29)

.78

10/31/20

.07

.22

.55

.77

(0

.28)

(0

.68)

(0

.96)

.88

10/31/19

.40

.26

.99

.25

(0

.26)

(1

.32)

(1

.58)

.07

10/31/18

.28

.25

.59

.84

(0

.26)

(0

.46)

(0

.72)

.40

a

Based

on

average

shares

outstanding.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(16

.45)

%

$

4,583,693

.18

%

.17

%

.34

%

%

.13

5,751,972

.17

.16

.15

.45

3,961,520

.18

.17

.52

.83

3,440,954

.17

.17

.81

.17

2,595,050

.17

.17

.69

(16

.51)

40,920

.27

.26

.26

.05

55,706

.25

.25

.06

.34

37,323

.26

.25

.43

.74

22,476

.24

.24

.73

.15

12,595

.22

.22

.64

(16

.57)

69,976

.37

.36

.15

.89

112,030

.33

.32

.99

.26

89,235

.34

.33

.38

.62

95,411

.33

.33

.66

.07

91,623

.33

.33

.54

(16

.65)

805,465

.43

.42

.09

.75

1,047,445

.42

.41

.90

.20

767,329

.43

.42

.27

.48

674,563

.42

.42

.55

.96

476,339

.42

.42

.44

(16

.64)

563,642

.46

.41

.11

.78

691,931

.44

.43

.88

.09

468,736

.46

.45

.25

.51

462,601

.45

.45

.54

.93

447,785

.45

.45

.42

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

2.9 SOCIAL

CHOICE

LOW

CARBON

EQUITY

FUND

Institutional

Class:

10/31/22

$

.44

$

.21

$

(3

.71)

$

(3

.50)

$

(0

.17)

$

(1

.01)

$

(1

.18)

$

.76

10/31/21

.16

.19

.47

.66

(0

.16)

(0

.22)

(0

.38)

.44

10/31/20

.93

.19

.43

.62

(0

.18)

(0

.21)

(0

.39)

.16

10/31/19

.77

.22

.64

.86

(0

.19)

(0

.51)

(0

.70)

.93

10/31/18

.50

.20

.36

.56

(0

.17)

(0

.12)

(0

.29)

.77

Advisor

Class:

10/31/22

.41

.18

(3

.70)

(3

.52)

(0

.15)

(1

.01)

(1

.16)

.73

10/31/21

.14

.17

.46

.63

(0

.14)

(0

.22)

(0

.36)

.41

10/31/20

.92

.19

.41

.60

(0

.17)

(0

.21)

(0

.38)

.14

10/31/19

.77

.20

.64

.84

(0

.18)

(0

.51)

(0

.69)

.92

10/31/18

.49

.18

.38

.56

(0

.16)

(0

.12)

(0

.28)

.77

Premier

Class:

10/31/22

.46

.18

(3

.72)

(3

.54)

(0

.14)

(1

.01)

(1

.15)

.77

10/31/21

.18

.16

.48

.64

(0

.14)

(0

.22)

(0

.36)

.46

10/31/20

.95

.18

.42

.60

(0

.16)

(0

.21)

(0

.37)

.18

10/31/19

.79

.19

.65

.84

(0

.17)

(0

.51)

(0

.68)

.95

10/31/18

.51

.18

.38

.56

(0

.16)

(0

.12)

(0

.28)

.79

Retirement

Class:

10/31/22

.32

.16

(3

.69)

(3

.53)

(0

.13)

(1

.01)

(1

.14)

.65

10/31/21

.09

.14

.44

.58

(0

.13)

(0

.22)

(0

.35)

.32

10/31/20

.87

.16

.42

.58

(0

.15)

(0

.21)

(0

.36)

.09

10/31/19

.72

.18

.64

.82

(0

.16)

(0

.51)

(0

.67)

.87

10/31/18

.46

.16

.37

.53

(0

.15)

(0

.12)

(0

.27)

.72

Retail

Class:

10/31/22

.32

.15

(3

.68)

(3

.53)

(0

.12)

(1

.01)

(1

.13)

.66

10/31/21

.09

.13

.44

.57

(0

.12)

(0

.22)

(0

.34)

.32

10/31/20

.88

.15

.41

.56

(0

.14)

(0

.21)

(0

.35)

.09

10/31/19

.72

.17

.65

.82

(0

.15)

(0

.51)

(0

.66)

.88

10/31/18

.46

.15

.38

.53

(0

.15)

(0

.12)

(0

.27)

.72

a

Based

on

average

shares

outstanding.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(17

.30)

%

$

473,329

.31

%

.31

%

.14

%

%

.55

452,025

.31

.31

.00

.88

211,659

.35

.32

.36

.52

89,166

.41

.32

.67

.54

77,376

.53

.32

.50

(17

.39)

8,364

.42

.42

.02

.44

6,920

.43

.43

.87

.72

1,517

.45

.42

.31

.33

1,132

.52

.43

.52

.54

.62

.41

.40

(17

.44)

6,136

.46

.46

.98

.36

6,335

.46

.46

.85

.72

3,253

.50

.47

.27

.33

2,171

.56

.47

.50

.46

714

.69

.47

.34

(17

.52)

530,048

.56

.56

.88

.19

530,497

.56

.56

.74

.65

202,084

.60

.57

.14

.21

118,956

.66

.57

.38

.26

22,392

.78

.57

.24

(17

.51)

53,878

.60

.58

.86

.09

62,509

.62

.62

.68

.47

22,606

.66

.63

.09

.21

15,561

.73

.64

.36

.23

11,882

.85

.64

.17

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

3.01 EMERGING

MARKETS

EQUITY

FUND

Institutional

Class:

10/31/22

$

11.77 $

0.14 $

(3.23)

$

(3.09)

$

(0.43)

$

(1.79)

$

(2.22)

$

6.46 10/31/21

12.53 0.08 0.37 0.45 (0.10)

(1.11)

(1.21)

11.77 10/31/20

11.54 0.07 1.10 1.17 (0.18)

—

(0.18)

12.53 10/31/19

10.05 0.18 1.75 1.93 (0.05)

(0.39)

(0.44)

11.54 10/31/18

12.87 0.11 (2.38)

(2.27)

(0.10)

(0.45)

(0.55)

10.05 Advisor

Class:

10/31/22

11.77 0.11 (3.21)

(3.10)

(0.42)

(1.79)

(2.21)

6.46 10/31/21

12.52 0.07 0.37 0.44 (0.08)

(1.11)

(1.19)

11.77 10/31/20

11.54 0.04 1.11 1.15 (0.17)

—

(0.17)

12.52 10/31/19

10.05 0.17 1.76 1.93 (0.05)

(0.39)

(0.44)

11.54 10/31/18

12.86 0.04 (2.31)

(2.27)

(0.09)

(0.45)

(0.54)

10.05 Premier

Class:

10/31/22

11.78 0.14 (3.25)

(3.11)

(0.42)

(1.79)

(2.21)

6.46 10/31/21

12.53 0.07 0.38 0.45 (0.09)

(1.11)

(1.20)

11.78 10/31/20

11.55 0.05 1.09 1.14 (0.16)

—

(0.16)

12.53 10/31/19

10.04 0.17 1.77 1.94 (0.04)

(0.39)

(0.43)

11.55 10/31/18

12.85 0.09 (2.38)

(2.29)

(0.07)

(0.45)

(0.52)

10.04 Retirement

Class:

10/31/22

11.72 0.14 (3.23)

(3.09)

(0.42)

(1.79)

(2.21)

6.42 10/31/21

12.48 0.07 0.37 0.44 (0.09)

(1.11)

(1.20)

11.72 10/31/20

11.49 0.05 1.10 1.15 (0.16)

—

(0.16)

12.48 10/31/19

10.00 0.17 1.74 1.91 (0.03)

(0.39)

(0.42)

11.49 10/31/18

12.82 0.08 (2.37)

(2.29)

(0.08)

(0.45)

(0.53)

10.00 Retail

Class:

10/31/22

11.72 0.11 (3.23)

(3.12)

(0.37)

(1.79)

(2.16)

6.44 10/31/21

12.49 0.03 0.36 0.39 (0.05)

(1.11)

(1.16)

11.72 10/31/20

11.51 0.02 1.10 1.12 (0.14)

—

(0.14)

12.49 10/31/19

10.00 0.14 1.76 1.90 (0.00)

d

(0.39)

(0.39)

11.51 10/31/18

12.83 0.06 (2.37)

(2.31)

(0.07)

(0.45)

(0.52)

10.00 Class

W:

10/31/22

11.85 0.21 (3.25)

(3.04)

(0.52)

(1.79)

(2.31)

6.50 10/31/21

12.62 0.21 0.37 0.58 (0.24)

(1.11)

(1.35)

11.85 10/31/20

11.63 0.17 1.10 1.27 (0.28)

—

(0.28)

12.62 10/31/19

10.06 0.28 1.76 2.04 (0.08)

(0.39)

(0.47)

11.63 10/31/18

†

10.77 0.01 (0.72)

(0.71)

—

—

—

10.06 †

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

d

Amount

represents

less

than

$0.01

per

share.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(31.68)

%

$

187,605

0.90 %

0.90 %

1.66 %

%

2.44 295,907

0.88 0.88 0.61 112

10.04 283,658

0.88 0.88 0.58 128

20.10 255,775

0.90 0.90 1.66 129

(18.47)

239,932

0.91 0.91 0.93 127

(31.77)

0.94 0.94 1.34 108

2.28 171

0.97 0.97 0.51 112

10.06 179

0.95 0.95 0.31 128

20.11 236

0.97 0.97 1.59 129

(18.48)

0.96 0.96 0.30 127

(31.77)

7,296

1.05 0.96 1.61 108

2.27 10,994

1.03 0.98 0.54 112

9.99 9,112

1.03 0.99 0.46 128

19.99 7,700

1.05 1.02 1.54 129

(18.63)

8,057

1.06 1.06 0.70 127

(31.85)

62,446

1.15 0.96 1.64 108

2.36 103,033

1.12 0.98 0.49 112

9.94 118,191

1.13 0.99 0.44 128

19.96 137,434

1.15 1.04 1.58 129

(18.63)

88,764

1.16 1.13 0.67 127

(31.97)

6,239

1.30 1.24 1.32 108

2.00 9,842

1.31 1.31 0.19 112

9.68 8,500

1.27 1.27 0.17 128

19.64 9,348

1.27 1.27 1.28 129

(18.78)

7,636

1.27 1.27 0.50 127

(31.16)

1,308,083

0.90 0.00 2.49 108

3.33 1,256,261

0.88 0.00 1.54 112

11.11 1,194,291

0.88 0.00 1.47 128

21.10 1,166,939

0.89 0.00 2.54 129

(6.59)

b

1,081,436

0.91 c

0.00 c

0.91 c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

3.1 INTERNATIONAL

EQUITY

FUND

Institutional

Class:

10/31/22

$

.61

$

.28

$

(3

.86)

$

(3

.58)

$

(0

.40)

$

—

$

(0

.40)

$

.63

10/31/21

.91

.41

.45

.86

(0

.16)

—

(0

.16)

.61

10/31/20

.06

.18

(0

.14)

.04

(0

.19)

—

(0

.19)

.91

10/31/19

.24

.20

.35

.55

(0

.24)

(0

.49)

(0

.73)

.06

10/31/18

.24

.26

(1

.94)

(1

.68)

(0

.15)

(0

.17)

(0

.32)

.24

Advisor

Class:

10/31/22

.93

.28

(3

.96)

(3

.68)

(0

.38)

—

(0

.38)

.87

10/31/21

.15

.39

.54

.93

(0

.15)

—

(0

.15)

.93

10/31/20

.29

.17

(0

.13)

.04

(0

.18)

—

(0

.18)

.15

10/31/19

.23

.05

.50

.55

—

(0

.49)

(0

.49)

.29

10/31/18

.24

.23

(1

.93)

(1

.70)

(0

.14)

(0

.17)

(0

.31)

.23

Premier

Class:

10/31/22

.58

.26

(3

.85)

(3

.59)

(0

.38)

—

(0

.38)

.61

10/31/21

.89

.37

.45

.82

(0

.13)

—

(0

.13)

.58

10/31/20

.03

.16

(0

.13)

.03

(0

.17)

—

(0

.17)

.89

10/31/19

.21

.18

.35

.53

(0

.22)

(0

.49)

(0

.71)

.03

10/31/18

.21

.23

(1

.93)

(1

.70)

(0

.13)

(0

.17)

(0

.30)

.21

Retirement

Class:

10/31/22

.18

.26

(4

.02)

(3

.76)

(0

.36)

—

(0

.36)

.06

10/31/21

.33

.39

.59

.98

(0

.13)

—

(0

.13)

.18

10/31/20

.48

.16

(0

.14)

.02

(0

.17)

—

(0

.17)

.33

10/31/19

.63

.18

.36

.54

(0

.20)

(0

.49)

(0

.69)

.48

10/31/18

.69

.23

(2

.01)

(1

.78)

(0

.11)

(0

.17)

(0

.28)

.63

Retail

Class:

10/31/22

.11

.15

(2

.37)

(2

.22)

(0

.37)

—

(0

.37)

.52

10/31/21

.86

.23

.15

.38

(0

.13)

—

(0

.13)

.11

10/31/20

.02

.09

(0

.08)

.01

(0

.17)

—

(0

.17)

.86

10/31/19

.42

.10

.20

.30

(0

.21)

(0

.49)

(0

.70)

.02

10/31/18

.84

.14

(1

.28)

(1

.14)

(0

.11)

(0

.17)

(0

.28)

.42

Class

W:

10/31/22

.69

.34

(3

.87)

(3

.53)

(0

.46)

—

(0

.46)

.70

10/31/21

.96

.48

.45

.93

(0

.20)

—

(0

.20)

.69

10/31/20

.10

.23

(0

.13)

.10

(0

.24)

—

(0

.24)

.96

10/31/19

.25

.25

.34

.59

(0

.25)

(0

.49)

(0

.74)

.10

10/31/18

†

.32

.01

(1

.08)

(1

.07)

—

—

—

.25

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(25

.14)

%

$

2,255,904

.46

%

.46

%

.33

%

%

.59

2,828,714

.46

.46

.95

.33

2,230,915

.48

.48

.74

.73

2,484,368

.48

.48

.87

(13

.04)

1,892,458

.48

.48

.99

(25

.23)

2,268

.57

.57

.20

.42

3,175

.56

.56

.75

.34

2,993

.57

.57

.60

.46

3,929

.60

.60

.38

(13

.16)

196,238

.61

.61

.79

(25

.24)

57,289

.61

.61

.14

.31

75,862

.61

.61

.68

.26

80,569

.63

.63

.53

.52

133,306

.63

.63

.76

(13

.20)

164,943

.63

.63

.75

(25

.32)

314,089

.71

.71

.05

.28

467,995

.71

.71

.68

.10

383,646

.73

.73

.45

.44

459,274

.73

.71

.63

(13

.25)

525,331

.73

.73

.73

(25

.32)

201,687

.80

.74

.04

.05

286,699

.80

.80

.61

.03

223,406

.82

.82

.38

.24

249,406

.82

.82

.53

(13

.32)

274,948

.80

.80

.65

(24

.76)

3,426,943

.46

0.00 2

.77

.17

3,083,400

.46

0.00 3

.45

.89

1,772,710

.48

0.00 2

.19

.16

1,480,782

.48

0.00 2

.35

(8

.69)

b

1,377,271

.48

c

0.00 c

.08

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

3.2 INTERNATIONAL

OPPORTUNITIES

FUND

Institutional

Class:

10/31/22

$

.77

$

.17

$

(5

.88)

$

(5

.71)

$

(0

.33)

$

(1

.24)

$

(1

.57)

$

.49

10/31/21

.70

.13

.40

.53

(0

.09)

(0

.37)

(0

.46)

.77

10/31/20

.35

.07

.42

.49

(0

.14)

—

(0

.14)

.70

10/31/19

.99

.16

.35

.51

(0

.15)

—

(0

.15)

.35

10/31/18

.06

.20

(1

.11)

(0

.91)

(0

.16)

—

(0

.16)

.99

Advisor

Class:

10/31/22

.73

.16

(5

.87)

(5

.71)

(0

.30)

(1

.24)

(1

.54)

.48

10/31/21

.67

.11

.40

.51

(0

.08)

(0

.37)

(0

.45)

.73

10/31/20

.34

.06

.41

.47

(0

.14)

—

(0

.14)

.67

10/31/19

.97

.11

.40

.51

(0

.14)

—

(0

.14)

.34

10/31/18

.05

.18

(1

.10)

(0

.92)

(0

.16)

—

(0

.16)

.97

Premier

Class:

10/31/22

.80

.20

(5

.94)

(5

.74)

(0

.30)

(1

.24)

(1

.54)

.52

10/31/21

.72

.11

.41

.52

(0

.07)

(0

.37)

(0

.44)

.80

10/31/20

.37

.04

.44

.48

(0

.13)

—

(0

.13)

.72

10/31/19

.00

.15

.35

.50

(0

.13)

—

(0

.13)

.37

10/31/18

.07

.18

(1

.11)

(0

.93)

(0

.14)

—

(0

.14)

.00

Retirement

Class:

10/31/22

.69

.16

(5

.86)

(5

.70)

(0

.30)

(1

.24)

(1

.54)

.45

10/31/21

.63

.10

.40

.50

(0

.07)

(0

.37)

(0

.44)

.69

10/31/20

.30

.06

.40

.46

(0

.13)

—

(0

.13)

.63

10/31/19

.93

.15

.35

.50

(0

.13)

—

(0

.13)

.30

10/31/18

.02

.16

(1

.11)

(0

.95)

(0

.14)

—

(0

.14)

.93

Retail

Class:

10/31/22

.67

.13

(5

.87)

(5

.74)

(0

.21)

(1

.24)

(1

.45)

.48

10/31/21

.65

.05

.38

.43

(0

.04)

(0

.37)

(0

.41)

.67

10/31/20

.32

.01

.41

.42

(0

.09)

—

(0

.09)

.65

10/31/19

.94

.12

.36

.48

(0

.10)

—

(0

.10)

.32

10/31/18

.01

.14

(1

.10)

(0

.96)

(0

.11)

—

(0

.11)

.94

Class

W:

10/31/22

.89

.26

(5

.90)

(5

.64)

(0

.50)

(1

.24)

(1

.74)

.51

10/31/21

.78

.25

.42

.67

(0

.19)

(0

.37)

(0

.56)

.89

10/31/20

.42

.16

.43

.59

(0

.23)

—

(0

.23)

.78

10/31/19

.99

.24

.36

.60

(0

.17)

—

(0

.17)

.42

10/31/18

†

.52

.01

(1

.54)

(1

.53)

—

—

—

.99

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

e

Includes

voluntary

compensation

from

the

Adviser

as

further

described

in

the

investment

adviser

and

other

transactions

with

affiliates

note

in

the

Notes

to

financial

statements.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

e

Portfolio

turnover

rate

(30

.76)

%

$

130,897

.61

%

.61

%

.16

%

%

.21

146,168

.60

.60

.70

.84

120,668

.61

.61

.53

.84

117,428

.62

.62

.31

(7

.07)

87,135

.62

.62

.43

(30

.83)

61,619

.71

.71

.21

.09

5,052

.70

.70

.59

.66

4,060

.71

.71

.41

.85

4,168

.71

.71

.85

(7

.17)

.69

.69

.35

(30

.88)

2,269

.76

.66

.43

.06

569

.77

.73

.58

.69

.77

.70

.32

.74

1,308

.77

.73

.21

(7

.17)

1,562

.78

.78

.34

(30

.87)

96,691

.86

.68

.06

.13

175,169

.85

.73

.56

.62

158,190

.86

.72

.40

.77

175,643

.87

.77

.19

(7

.34)

127,760

.87

.87

.18

(31

.02)

36,527

.99

.96

.89

.62

9,152

.06

.06

.26

.26

5,638

.01

.01

.10

.50

4,122

.02

.02

.92

(7

.41)

4,341

.02

.02

.04

(30

.39)

2,057,533

.61

0.00 1

.77

.03

2,183,791

.60

0.00 1

.31

.52

1,527,006

.61

0.00 1

.14

.62

1,487,781

.62

0.00 1

.94

(11

.32)

b

1,330,650

.63

c

0.00 c

.76

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

3.3 QUANT

INTERNATIONAL

SMALL-CAP

EQUITY

FUND

Institutional

Class:

10/31/22

$

.48

$

.33

$

(3

.45)

$

(3

.12)

$

(0

.37)

$

(0

.37)

$

(0

.74)

$

.62

10/31/21

.41

.20

.09

.29

(0

.22)

—

(0

.22)

.48

10/31/20

.30

.19

(0

.73)

(0

.54)

(0

.35)

—

(0

.35)

.41

10/31/19

.22

.26

.40

.66

(0

.29)

(0

.29)

(0

.58)

.30

10/31/18

.90

.33

(2

.22)

(1

.89)

(0

.34)

(0

.45)

(0

.79)

.22

Advisor

Class:

10/31/22

.46

.33

(3

.45)

(3

.12)

(0

.36)

(0

.37)

(0

.73)

.61

10/31/21

.40

.20

.08

.28

(0

.22)

—

(0

.22)

.46

10/31/20

.29

.19

(0

.73)

(0

.54)

(0

.35)

—

(0

.35)

.40

10/31/19

.22

.26

.39

.65

(0

.29)

(0

.29)

(0

.58)

.29

10/31/18

.88

.31

(2

.20)

(1

.89)

(0

.32)

(0

.45)

(0

.77)

.22

Premier

Class:

10/31/22

.62

.31

(3

.49)

(3

.18)

(0

.34)

(0

.37)

(0

.71)

.73

10/31/21

.52

.19

.11

.30

(0

.20)

—

(0

.20)

.62

10/31/20

.42

.17

(0

.74)

(0

.57)

(0

.33)

—

(0

.33)

.52

10/31/19

.23

.25

.41

.66

(0

.18)

(0

.29)

(0

.47)

.42

10/31/18

.88

.29

(2

.17)

(1

.88)

(0

.32)

(0

.45)

(0

.77)

.23

Retirement

Class:

10/31/22

.45

.29

(3

.43)

(3

.14)

(0

.34)

(0

.37)

(0

.71)

.60

10/31/21

.40

.18

.07

.25

(0

.20)

—

(0

.20)

.45

10/31/20

.29

.18

(0

.73)

(0

.55)

(0

.34)

—

(0

.34)

.40

10/31/19

.19

.25

.39

.64

(0

.25)

(0

.29)

(0

.54)

.29

10/31/18

.87

.27

(2

.18)

(1

.91)

(0

.32)

(0

.45)

(0

.77)

.19

Retail

Class:

10/31/22

.47

.29

(3

.45)

(3

.16)

(0

.32)

(0

.37)

(0

.69)

.62

10/31/21

.41

.16

.08

.24

(0

.18)

—

(0

.18)

.47

10/31/20

.30

.15

(0

.73)

(0

.58)

(0

.31)

—

(0

.31)

.41

10/31/19

.18

.22

.40

.62

(0

.21)

(0

.29)

(0

.50)

.30

10/31/18

.86

.26

(2

.19)

(1

.93)

(0

.30)

(0

.45)

(0

.75)

.18

Class

W:

10/31/22

.56

.40

(3

.46)

(3

.06)

(0

.44)

(0

.37)

(0

.81)

.69

10/31/21

.46

.29

.09

.38

(0

.28)

—

(0

.28)

.56

10/31/20

.35

.25

(0

.72)

(0

.47)

(0

.42)

—

(0

.42)

.46

10/31/19

.22

.33

.40

.73

(0

.31)

(0

.29)

(0

.60)

.35

10/31/18

†

.37

.01

(1

.16)

(1

.15)

—

—

—

.22

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(26

.44)

%

$

66,810

.72

%

.72

%

.20

%

%

.40

88,124

.71

.69

.73

(5

.51)

54,223

.71

.66

.06

.04

55,449

.71

.66

.68

(15

.62)

43,174

.71

.66

.71

(26

.47)

.74

.74

.18

.28

.80

.78

.66

(5

.56)

.76

.71

.01

.96

.76

.71

.66

(15

.59)

.73

.68

.44

(26

.53)

.90

.90

.01

.08

.96

.88

.56

(5

.71)

.91

.85

.85

.85

.89

.84

.53

(15

.54)

.87

.82

.29

(26

.62)

8,463

.97

.97

.98

.00

4,626

.96

.93

.51

(5

.67)

3,259

.96

.84

.93

.86

3,113

.96

.84

.54

(15

.79)

3,620

.97

.89

.21

(26

.71)

824

.40

.14

.80

.77

1,134

.20

.12

.31

(5

.93)

757

.44

.09

.60

.61

851

.35

.09

.26

(15

.95)

971

.17

.08

.15

(25

.88)

1,118,947

.72

0.00 3

.90

.31

1,485,005

.71

0.00 2

.42

(4

.97)

923,105

.71

0.00 2

.73

.85

926,729

.71

0.00 3

.38

(10

.11)

b

852,681

.72

c

0.00 c

.80

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

3.4 SOCIAL

CHOICE

INTERNATIONAL

EQUITY

FUND

Institutional

Class:

10/31/22

$

.82

$

.33

$

(3

.48)

$

(3

.15)

$

(0

.32)

$

(0

.10)

$

(0

.42)

$

.25

10/31/21

.34

.35

.31

.66

(0

.18)

—

(0

.18)

.82

10/31/20

.16

.23

(0

.87)

(0

.64)

(0

.18)

—

(0

.18)

.34

10/31/19

.14

.31

.95

.26

(0

.24)

—

(0

.24)

.16

10/31/18

.21

.29

(1

.13)

(0

.84)

(0

.23)

(0

.00)

d

(0

.23)

.14

Advisor

Class:

10/31/22

.81

.29

(3

.45)

(3

.16)

(0

.31)

(0

.10)

(0

.41)

.24

10/31/21

.33

.35

.30

.65

(0

.17)

—

(0

.17)

.81

10/31/20

.16

.21

(0

.86)

(0

.65)

(0

.18)

—

(0

.18)

.33

10/31/19

.14

.30

.95

.25

(0

.23)

—

(0

.23)

.16

10/31/18

.21

.30

(1

.14)

(0

.84)

(0

.23)

(0

.00)

d

(0

.23)

.14

Premier

Class:

10/31/22

.83

.32

(3

.50)

(3

.18)

(0

.30)

(0

.10)

(0

.40)

.25

10/31/21

.34

.34

.31

.65

(0

.16)

—

(0

.16)

.83

10/31/20

.17

.15

(0

.81)

(0

.66)

(0

.17)

—

(0

.17)

.34

10/31/19

.13

.32

.92

.24

(0

.20)

—

(0

.20)

.17

10/31/18

.19

.32

(1

.16)

(0

.84)

(0

.22)

(0

.00)

d

(0

.22)

.13

Retirement

Class:

10/31/22

.76

.30

(3

.47)

(3

.17)

(0

.29)

(0

.10)

(0

.39)

.20

10/31/21

.30

.33

.29

.62

(0

.16)

—

(0

.16)

.76

10/31/20

.12

.20

(0

.86)

(0

.66)

(0

.16)

—

(0

.16)

.30

10/31/19

.11

.26

.96

.22

(0

.21)

—

(0

.21)

.12

10/31/18

.17

.29

(1

.14)

(0

.85)

(0

.21)

(0

.00)

d

(0

.21)

.11

Retail

Class:

10/31/22

.76

.30

(3

.48)

(3

.18)

(0

.28)

(0

.10)

(0

.38)

.20

10/31/21

.30

.31

.30

.61

(0

.15)

—

(0

.15)

.76

10/31/20

.13

.20

(0

.88)

(0

.68)

(0

.15)

—

(0

.15)

.30

10/31/19

.10

.27

.96

.23

(0

.20)

—

(0

.20)

.13

10/31/18

.17

.28

(1

.15)

(0

.87)

(0

.20)

(0

.00)

d

(0

.20)

.10

a

Based

on

average

shares

outstanding.

d

Amount

represents

less

than

$0.01

per

share.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

concluded

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(23

.47)

%

$

657,816

.37

%

.37

%

.85

%

%

.70

556,304

.36

.36

.68

(5

.83)

338,692

.41

.40

.21

.77

192,475

.58

.40

.03

(7

.61)

46,432

.98

.40

.62

(23

.55)

8,600

.48

.48

.56

.60

2,557

.46

.46

.66

(5

.96)

1,192

.52

.51

.99

.71

1,174

.66

.47

.89

(7

.58)

579

.03

.45

.69

(23

.64)

618

.52

.52

.65

.49

771

.52

.52

.58

(5

.99)

.56

.55

.35

.55

1,754

.74

.55

.05

(7

.66)

.13

.55

.84

(23

.66)

457,544

.62

.62

.60

.42

386,981

.61

.61

.50

(6

.08)

162,780

.66

.65

.91

.40

59,932

.83

.65

.56

(7

.72)

9,304

.23

.65

.61

(23

.72)

21,246

.66

.65

.55

.27

21,846

.70

.70

.41

(6

.18)

10,335

.72

.72

.89

.47

6,456

.92

.74

.62

(7

.88)

4,525

.32

.74

.53

TIAA-CREF

Funds

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Notes

to

financial

statements

Note

1—organization

TIAA-CREF

Funds

(the

"Trust")

is

a

Delaware

statutory

trust

that

is

registered

with

the

U.S. Securities

and

Exchange

Commission

("SEC")

under

the

Investment

Company

Act

of

1940,

as

amended

("1940

Act"),

as

an

open-end

management

investment

company.

The

following

TIAA-CREF

Funds

are

included

in

this

report: Growth

&

Income

Fund,

Large-Cap

Growth

Fund,

Large-Cap

Value

Fund,

Mid-

Cap

Growth

Fund,

Mid-Cap

Value

Fund,

Quant

Small-Cap

Equity

Fund,

Quant

Small/Mid-Cap

Equity

Fund,

Social

Choice

Equity

Fund,

Social

Choice

Low

Carbon

Equity

Fund, Emerging

Markets

Equity

Fund, International

Equity

Fund,

International

Opportunities

Fund,

Quant

International

Small-Cap

Equity

Fund

and

the

Social

Choice

International

Equity

Fund (collectively

the

"Funds"

or

individually,

the

"Fund").

Teachers

Advisors,

LLC

(the

"Adviser"),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

("TIAA"),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Funds.

The

Funds

offer

their

shares,

without

a

sales

load,

through

their

principal

underwriter,

Nuveen

Securities,

LLC

("Nuveen

Securities"),

which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Funds

offer

up

to

six

share

classes,

although

any

one

Fund

may

not

necessarily

offer

all

six

classes.

The

Funds

may

offer

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class, Retail

Class

and

Class

W

shares.

Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Fund

reorganization:

At

a

special

meeting

held

on

October

3,

2022,

shareholders

of

the

Nuveen

International

Growth

Fund,

a

series

of

Nuveen

Investment

Trust

II

(the

"Target

Fund"),

approved

the

reorganization

of

the

Target

Fund

into

the

International

Opportunities

Fund

(the

"Acquiring

Fund")

(the

"Reorganization").

The

Reorganization

became

effective

after

the

close

of

business

on

October

28,

2022. Upon

closing

of

the

Reorganization,

the

Target

Fund

transferred

its

assets

to

the

Acquiring

Fund

in

exchange

for

shares

of

the

Acquiring

Fund

and

the

assumption

by

the

Acquiring

Fund

of

the

liabilities

of

the

Target

Fund.

The

Acquiring

Fund

shares

were

distributed

to

Target

Fund

shareholders

and

the

Target

Fund

was

terminated.

Each

Target

Fund

shareholder

received

Acquiring

Fund

shares

with

a

total

value

equal

to

the

total

value

of

that

shareholder's

Target

Fund

shares

immediately

prior

to

the

closing

of

the

Reorganization.

Details

of

the

Reorganization

are

further

described

in

Note

-

fund

reorganization.

Note

2—significant

accounting

policies

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 Funds

are

investment

companies

and

follow

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

. The net

asset

value ("NAV")

for

financial

reporting

purposes

may

differ

from

the NAV

for

processing

transactions.

The NAV

for

financial

reporting

purposes

includes

security

and shareholder

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the NAV

used

for

processing

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds.

Investments

and

investment

income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

Dividend

income

is

recorded

on

the

ex-dividend

date.

Foreign

dividend

income

is

recorded

on

the

ex-dividend

date

or

as

soon

as

possible

after

the Funds

determine

the

existence

of

a

dividend

declaration.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned on

cash

collateral

investments. 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

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The

Funds estimate

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

operations

and

allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation

of

a

Fund

are

allocated

on

a

pro

rata

basis

to

each

class

of

shares,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses, which

are

unique

to

each

class

of

shares.

Most

expenses

of

the

Trust

can

be

directly

attributed

to

a

fund.

Expenses

that

cannot

be

directly

attributed

are

allocated

to

each

fund

in

the

Trust

based

upon

the

average

net

assets

of

each

fund.

Distributions

to

shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

currency

transactions

and

translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i) foreign

currency,

(ii) investments

and

(iii) derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

"Net

realized

gain

(loss)

on

total

investments"

on

the

Statements

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i) investments

and

(ii) other

assets

and

liabilities

are

recognized

as

a

component

of

"Net

change

in

unrealized

appreciation

(depreciation)

of

total investments"

on

the

Statements

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative's

related "Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments"

on

the

Statements

of

operations,

when

applicable.

Foreign

taxes:

The Funds

may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the Funds

invest.

Trustee

compensation:

The

Funds pay

the

members

of

the

Board

of

Trustees

("Board"),

all

of

whom

are

independent,

certain

remuneration

for

their

services,

plus

travel

and

other

expenses.

Trustees

may

elect

to

participate

in

a

deferred

compensation

plan

and

defer

all

or

a

portion

of

their

compensation.

In

addition,

trustees

participate

in

a

long-term

compensation

plan.

Amounts

deferred

are

retained

by

the

Funds

until

paid.

Amounts

payable

to

the

trustees

for

compensation

are

included

separately

in the

accompanying

Statements

of

assets

and

liabilities.

Trustees'

fees,

including

any

deferred

and

long-term

compensation

incurred,

are

reflected

in

the

Statements

of

operations.

Indemnification:

Under

the

Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Other

matters:

The

outbreak

of

the

novel

coronavirus

("COVID-19")

and

subsequent

global

pandemic

began

significantly

impacting

the

U.S.

and

global

financial

markets

and

economies

during

the

calendar

quarter

ended

March

31,

2020. The

worldwide

spread

of

has

created

significant

uncertainty

in

the

global

economy.

The

duration

and

extent

of

over

the

long

term

cannot

be

reasonably

estimated

at

this

time.

The

ultimate

impact

of

and

the

extent

to

which

impacts

the Funds'

normal

course

of

business,

results

of

operations,

investments,

and

cash

flows

will

depend

on

future

developments,

which

are

highly

uncertain

and

difficult

to

predict.

Management

continues

to

monitor

and

evaluate

this

situation.

New

accounting

pronouncement:

In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

("Topic

820").

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1) clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2) amends

a

related

illustrative

example,

and

(3) introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820. For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

Management

is

currently

assessing

the

impact

of

these

provisions

on

the

Funds' financial

statements.

New

rule

issuance:

A

new

rule

adopted

by

the

SEC

governing

fund

valuation

practices,

Rule

2a-5

under

the

1940

Act,

has

established

requirements

for

determining

fair

value

in

good

faith

for

purposes

of

the

1940

Act.

Rule

2a-5

permits

fund

boards

to

designate

certain

parties

to

perform

fair

value

determinations,

subject

to

board

oversight

and

certain

other

conditions.

Rule

2a-5

also

defines

when

market

quotations

are

"readily

available"

for

purposes

of

Section

2(a)(41)

of

the

1940

Act,

which

requires

a

fund

to

fair

value

a

security

when

market

quotations

are

not

readily

available.

Separately,

new

SEC

Rule

31a-4

under

the

1940

Act

sets

forth

the

recordkeeping

requirements

associated

with

fair

value

determinations.

The Funds

adopted

a

valuation

policy

conforming

to

the

new

rules,

effective

September

1,

2022,

and

there

was

no

material

impact

to

the

Funds.

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

Note

3—valuation

of

investments

The Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

the

review

and

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management's

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management's

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Debt

securities:

Prices

of

fixed-income

securities

are

provided

by

independent

pricing

services

("pricing

services")

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security's

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2. Exchange-traded

equity

securities,

common

and

preferred

stock:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

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 Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1. When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. Investments

in

registered

investment

companies:

Investments

in

investment

companies

are

valued

at

their

respective NAVs

on

the

valuation

date

and

are

generally

classified

as Level

1. Repurchase

agreements:

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2. Futures

contracts:

Futures

contracts

are

valued

using

the

closing

settlement

price

or,

in

the

absence

of

such

a

price,

the

last

traded

price and

are

generally

classified

as

Level

1. Option

contracts:

Purchased

and

written

options

traded and

listed on

a

national

market

or

exchange

are

valued

at

the

last

sale

price

as

of

the

close

of

such

exchange

or

at

the

mean

of

the

closing

bid

and

asked

prices

if

no

sale

is

reported and

are

generally

classified

as

Level

1. Over-the-counter

("OTC")

options

are

marked-to-market

daily

based

upon

a

price

supplied

by

a

pricing

service.

OTC

options

are

generally

classified

as

Level

2. For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. 195

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

The

following

table

summarizes

the

market

value

of

the Funds'

investments

as

of

October

31,

2022,

based

on

the

inputs

used

to

value

them:

Fund

Level

Level

Level

Total

Growth

&

Income

Common

stocks

$5,032,850,518

$72,766,980

$—

$5,105,617,498

Short-term

investments

5,687,120

41,840,000

—

47,527,120

Purchased

options

20,900

—

—

20,900

Written

options\*

(22,758,882)

—

—

(22,758,882)

Total

$5,015,799,656

$114,606,980

$—

$5,130,406,636

Large-Cap

Growth

Common

stocks

$4,558,110,851

$147,920,581

$—

$4,706,031,432

Short-term

investments

31,045

16,971,572

—

17,002,617

Total

$4,558,141,896

$164,892,153

$—

$4,723,034,049

Large-Cap

Value

Common

stocks

$4,917,490,333

$—

$7,267

$4,917,497,600

Short-term

investments

—

54,025,000

—

54,025,000

Total

$4,917,490,333

$54,025,000

$7,267

$4,971,522,600

Mid-Cap

Growth

Common

stocks

$1,028,555,544

$45,957,252

$—

$1,074,512,796

Rights/Warrants

1,732,674

—

—

1,732,674

Short-term

investments

26,810,407

2,380,000

—

29,190,407

Total

$1,057,098,625

$48,337,252

$—

$1,105,435,877

Mid-Cap

Value

Common

stocks

$1,778,523,642

$—

$—

$1,778,523,642

Short-term

investments

3,846,798

8,540,000

—

12,386,798

Total

$1,782,370,440

$8,540,000

$—

$1,790,910,440

Quant

Small-Cap

Equity

Common

stocks

$2,693,697,567

$—

$—

$2,693,697,567

Short-term

investments

77,524,561

49,193,454

—

126,718,015

Futures

contracts\*

1,418,543

—

—

1,418,543

Total

$2,772,640,671

$49,193,454

$—

$2,821,834,125

Quant

Small/Mid-Cap

Equity

Common

stocks

$1,232,745,629

$—

$—

$1,232,745,629

Short-term

investments

20,239,769

6,440,000

—

26,679,769

Total

$1,252,985,398

$6,440,000

$—

$1,259,425,398

Social

Choice

Equity

Common

stocks

$6,044,265,726

$—

$9,929

$6,044,275,655

Short-term

investments

9,483,974

16,410,000

—

25,893,974

Futures

contracts\*

855,260

—

—

855,260

Total

$6,054,604,960

$16,410,000

$9,929

$6,071,024,889

Social

Choice

Low

Carbon

Equity

Common

stocks

$1,064,398,939

$—

$—

$1,064,398,939

Short-term

investments

550,934

7,710,000

—

8,260,934

Futures

contracts\*

298,730

—

—

298,730

Total

$1,065,248,603

$7,710,000

$—

$1,072,958,603

Emerging

Markets

Equity

Common

stocks

$561,744,228

$831,861,671

$—

$1,393,605,899

Short-term

investments

765,300

174,644,358

—

175,409,658

Total

$562,509,528

$1,006,506,029

$—

$1,569,015,557

International

Equity

Common

stocks

$146,273,809

$5,602,427,160

$—

$5,748,700,969

Short-term

investments

92,693

467,640,766

—

467,733,459

Total

$146,366,502

$6,070,067,926

$—

$6,216,434,428

International

Opportunities

Common

stocks

$512,188,431

$1,714,559,017

$1,405

$2,226,748,853

Short-term

investments

63,841,720

111,356,307

—

175,198,027

Total

$576,030,151

$1,825,915,324

$1,405

$2,401,946,880

Quant

International

Small-Cap

Equity

Common

stocks

$217,118,129

$971,627,936

$232,424

$1,188,978,489

Short-term

investments

75,121,549

—

—

75,121,549

Total

$292,239,678

$971,627,936

$232,424

$1,264,100,038

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

Note

4—investments

Repurchase

agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund's policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

Restricted

securities:

Restricted

securities

held

by

the

Funds,

if

any,

may

not

be

sold

except

in

exempt

transactions

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933,

as

amended.

The

risk

of

investing

in

such

securities

is

generally

greater

than

the

risk

of

investing

in

securities

that

are

widely

held

and

publicly

traded.

Securities

lending:

Certain Funds

may

lend

their

securities

to

qualified

institutional

borrowers

to

earn

additional

income.

A

Fund 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;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the Fund

the

next

business

day.

Cash

collateral

received

by the

Fund will

generally

be

invested

in

high-quality

short-term

instruments

or

in

one

or

more

funds

maintained

by

the

securities

lending

agent

("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

Statements

of

assets

and

liabilities.

Non-cash

collateral

is

not

disclosed

in

the

Funds'

Statements

of

assets

and

liabilities

as

it

is

held

by

the Agent

or

by

a

third

party

bank

engaged

by

the

Agent

as

a

special

"tri-party" custodian on

behalf

of

the Funds,

and

the

Funds

do

not

have

the

ability

to

sell

or

re-hypothecate

those

securities.

As

of

October

31,

2022,

securities

lending

transactions are

for equity

securities,

and

the

resulting

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

Securities

lending

income

recognized

by

the

Funds consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

reflected

separately

in

the

Statements

of

operations.

In

lending

its

securities,

a

Fund bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned.

As

of October

31,

2022,

the

total

value

of

securities

on

loan

and

the

total

value

of

collateral

received

were

as

follows:

Purchases

and

sales:

Purchases

and

sales

of

securities

(other

than

short-term

instruments)

for

all

of

the Funds

for

the year

ended

October

31,

2022

were

as

follows:

Fund

Level

Level

Level

Total

Social

Choice

International

Equity

Common

stocks

$4,802,738

$1,120,843,799

$—

$1,125,646,537

Short-term

investments

8,340,302

12,535,000

—

20,875,302

Futures

contracts\*

192,048

—

—

192,048

Total

$13,335,088

$1,133,378,799

$—

$1,146,713,887

\*

Derivative

instruments

are

not

reflected

in

the

market

value

of

portfolio

investments.

Aggregate

value

of

securities

on

loan

Fund

Equity

Securities

Cash

collateral

received\*

Non-cash

collateral

received

Total

collateral

received

Growth

&

Income

$13,936,134

$5,687,120

$7,688,624

$13,375,744

Large-Cap

Growth

1,002,170

31,045

1,012,224

1,043,269

Mid-Cap

Growth

40,613,118

26,810,407

15,127,638

41,938,045

Mid-Cap

Value

3,931,284

3,846,798

114,581

3,961,379

Quant

Small-Cap

Equity

88,030,233

77,524,561

13,202,341

90,726,902

Quant

Small/Mid-Cap

Equity

30,408,210

20,239,769

10,946,417

31,186,186

Social

Choice

Equity

11,981,504

9,483,974

3,264,278

12,748,252

Social

Choice

Low

Carbon

Equity

780,701

550,934

260,243

811,177

Emerging

Markets

Equity

1,869,031

765,300

1,956,390

2,721,690

International

Equity

486,506

92,693

–

92,693

International

Opportunities

89,537,295

63,841,720

32,430,058

96,271,778

Quant

International

Small-Cap

Equity

95,189,162

75,121,549

24,570,340

99,691,889

Social

Choice

International

Equity

10,299,306

8,340,302

3,077,165

11,417,467

\*May

include

cash

and

investment

of

cash

collateral.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Special

Purpose

Acquisition

Companies

(SPACs):

Also

known

as

a

"blank

check

company,"

SPACs

are

shell

companies

that

have

no

operations

but

go

public

with

the

intention

of

merging

with

or

acquiring

a

company

with

the

proceeds

of

the

SPAC's

initial

public

offering

("IPO").

A

Fund

may

purchase

units

or

shares

of

SPACs

that

have

completed

an

IPO

on

a

secondary

market,

during

a

SPAC's

IPO

or

through

a

PIPE

offering,

if

and

when

the

SPAC

completes

its

merger

or

acquisition.

Purchased

PIPE

shares

will

be

restricted

from

trading

until

the

registration

statement

for

the

shares

is

declared

effective.

Upon

registration,

the

shares

can

be

freely

sold.

Note

5—derivative

investments

Each Fund is

authorized

to

invest

in

certain

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

variables.

At

October

31,

2022,

the

following Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statements

of

assets

and

liabilities

as

follows:

Fund

Non-U.S.

government

purchases

Non-U.S.

government

sales

2.1 Growth

&

Income

$

4,346,620,607

$

4,939,238,591

2.2 Large-Cap

Growth

3,625,910,896

3,819,359,950

2.3 Large-Cap

Value

1,053,459,413

1,192,971,149

2.4 Mid-Cap

Growth

868,458,290

1,043,249,906

2.5 Mid-Cap

Value

1,563,285,141

1,804,220,488

2.6 Quant

Small-Cap

Equity

2,032,817,463

2,009,871,488

2.7 Quant

Small/Mid-Cap

Equity

1,227,183,385

979,943,702

2.8 Social

Choice

Equity

1,308,920,925

1,526,248,591

2.9 Social

Choice

Low

Carbon

Equity

529,500,539

296,335,749

3.01 Emerging

Markets

Equity

1,914,921,275

1,497,138,973

3.1 International

Equity

2,282,090,501

1,214,922,643

3.2 International

Opportunities

1,061,277,125

298,149,659

3.3 Quant

International

Small-Cap

Equity

1,677,735,972

1,614,212,407

3.4 Social

Choice

International

Equity

645,733,750

159,744,153

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

Growth

&

Income

Fund

Purchased

options

Equity

price

Options

purchased,

at

value

$

20,900

-

$

–

Written

options

Equity

-

–

Options

written,

at

value

(22,758,882)

Quant

Small-Cap

Equity

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

1,418,543

-

–

Social

Choice

Equity

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

855,260

-

–

Social

Choice

Low

Carbon

Equity

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

298,730

-

–

Social

Choice

International

Equity

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

192,048

-

–

\*

Value

represents

the

cumulative

unrealized

appreciation

(depreciation)

of

cleared

derivative

contracts

as

reported

in

the

Fund's

Portfolio

of

investments.

The

Statements

of

assets

and

liabilities

only

reflects

the

current

day

variation

margin

receivable/payable

from/to

brokers

on

open

cleared

derivative

contracts.

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

For

the year

ended

October

31,

2022,

the

effect

of

derivative

contracts

on

the Funds'

Statements

of

operations

was

as

follows:

Options:

Certain Funds

are

subject

to

equity

price

risk

in

the

normal

course

of

pursuing their

investment

objectives. To

manage

the

risk,

the Funds

may

invest

in

both

equity

and

index

options.

The Funds

may

purchase

(buy)

or

write

(sell)

put

and

call

options

on

specific

securities

(including

groups

or

"baskets"

of

specific

securities),

interest

rates,

stock

indices

and/or

bond

indices

(each

a

"financial

instrument").

Options

can

be

settled

either

directly

with

the

counterparty

(over

the

counter)

or

through

a

central

clearing

house

(exchange

traded).

Call

and

put

options

give

the

holder

the

right,

in

return

for

a

premium

paid,

to

purchase

or

sell,

respectively,

a

financial

instrument

at

a

specified

exercise

price

at

any

time

during

the

period

of

the

option.

Purchased

options

are

included

in

the Portfolio

of

investments.

When a

Fund

writes

an

option,

an

amount

equal

to

the

net

premium

received

(the

premium

less

commission)

is

recognized

as

a

liability

on

the

Statements

of

assets

and

liabilities

and

is

subsequently

adjusted

to

reflect

the

current

value

of

the

written

option

until

the

option

is

exercised

or

expires

or

the

Fund

enters

into

a

closing

purchase

transaction.

The

changes

in

the

value

of

options

purchased

and/or

written

during

the

fiscal

period

are

recognized

as

in

unrealized

appreciation

(depreciation)

on

the

Statements

of

operations.

When

an

option

expires,

the

premiums

received

or

paid

are

recognized

as

realized

gains

or

losses

on

the

Statements

of

operations.

When

an

option

is

exercised

or

a

closing

purchase

transaction

is

entered

into,

the

difference

between

the

premium

and

the

amount

received

or

paid

in

a

closing

transaction

is

recognized

as

a

realized

gain

or

loss

on

the

Statements

of

operations.

The

market

risk

associated

with

purchasing

options

is

limited

to

the

premium

paid.

The

Fund,

as

writer

of

an

option,

has

no

control

over

whether

the

underlying

instrument

may

be

sold

(called)

or

purchased

(put)

and

as

a

result

bears

the

risk

of

an

unfavorable

change

in

the

market

value

of

the

instrument

underlying

the

written

option.

There

is

also

the

risk

the

Fund may

not

be

able

to

enter

into

a

closing

transaction

because

of

an

illiquid

market.

The

average

notional

amount

of

options

contracts

purchased

and

options

contracts

written outstanding

during

the

current

fiscal

period

ended October

31,

2022

was

as

follows:

Futures

contracts:

Certain

Funds

are

subject

to

equity

price

and

interest

rate

risk

in

the

normal

course

of

pursuing

their

investment

objectives.

The Funds

use

futures

contracts

to

manage

exposure

to

the

equity

and

bond

markets and

for

cash

management

purposes

to

remain

highly

invested

in

these

markets

while

minimizing

transaction

costs.

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

2.1 Growth

&

Income

Fund

Purchased

option

contracts

Equity

$

34,828

$

91,225

Written

option

contracts

Equity

(15,972,128)

1,065,590

2.6 Quant

Small-Cap

Equity

Fund

Futures

contracts

Equity

(5,203,874)

1,141,306

2.8 Social

Choice

Equity

Fund

Futures

contracts

Equity

(3,326,544)

(369,301)

2.9 Social

Choice

Low

Carbon

Equity

Fund

Futures

contracts

Equity

(2,035,100)

211,542

3.01 Emerging

Markets

Equity

Fund

Purchased

option

contracts

Equity

(456,849)

160,849

Written

option

contracts

Equity

442,134

(346,134)

3.4 Social

Choice

International

Equity

Fund

Futures

contracts

Equity

(2,735,834)

188,417

Fund

Average

notional

amount

of

options

contracts

purchased

outstanding\*

2.1 Growth

&

Income

$

141,695

3.01 Emerging

Markets

Equity

91,370

Fund

Average

notional

amount

of

options

contracts

written

outstanding\*

2.1 Growth

&

Income

$

(24,421,360)

3.01 Emerging

Markets

Equity

(88,427)

\*

The

average

notional

amount

is

calculated

based

on

the

outstanding

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

A

futures

contract

is

an

agreement

between

two

parties

to

buy

and

sell

a

financial

instrument

for

a

set

price

on

a

future

date.

Upon

execution

of

a

futures

contract,

the

Fund

is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

"initial

margin,"

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statements

of

assets

and

liabilities.

During

the

period

the

futures

contract

is

open,

changes

in

the

market

value

of

the

contract

are

recognized

as

an

unrealized

gain

or

loss

by

"marking-to-market"

on

a

daily

basis.

The

Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

contracts.

These

daily

cash

settlements

are

known

as

"variation

margin"

which are

recognized

on

the

Statements

of

assets

and

liabilities

as

a

receivable

or

payable

for

variation

margin

on

futures

contracts.

When

the

contract

is

closed

or

expired,

the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

contract

on

the

closing

date

and

value

of

the

contract

when

originally

entered

into.

The

net

realized

gain

or

loss

and

the

change

in

unrealized

appreciation

(depreciation)

on

futures

contracts

held

during

the

period

is

included

on

the

Statement

of

operations.

Risks

of

investments

in

futures

contracts

include

the

possible

adverse

movement

in

the

price

of

the

securities

or

indices

underlying

the

contracts,

the

possibility

that

there

may

not

be

a

liquid

secondary

market

for

the

contracts

and/or

that

a

change

in

the

value

of the

contract

may

not

correlate

with

a

change

in

the

value

of

the

underlying

securities

or

indices.

The

average

notional

amount

of

futures

contracts

outstanding

during

the

current

fiscal

period

ended October

31,

2022

was

as

follows:

Note

6—income

tax

information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund's

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund's

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

distribution

reallocations,

foreign

currency

transactions,

foreign

taxes

paid,

investments

in

partnerships,

investments

in

passive

foreign

investment

companies,

nondeductible

reorganization

expenses,

reorganization

adjustments,

return

of

capital

and

long-term

capital

gain

distributions

received

from

portfolio

investments,

and

tax

equalization.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund's

net

assets.

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

Fund

Average

notional

amount

of

futures

contracts

outstanding\*

2.6 Quant

Small-Cap

Equity

$

24,230,867

2.8 Social

Choice

Equity

28,135,218

2.9 Social

Choice

Low

Carbon

Equity

10,920,483

3.4 Social

Choice

International

Equity

7,057,599

\*

The

average

notional

amount

is

calculated

based

on

the

absolute

aggregate

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of

year

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

The

tax

character

of

distributions

paid was

as

follows:

As

of

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

Fund

Tax

cost

Gross

unrealized

appreciation

Gross

unrealized

(depreciation)

Net

unrealized

appreciation

(depreciation)

2.1 Growth

&

Income

$3,431,425,714

$1,882,423,280

$(157,814,138)

$1,724,609,142

2.2 Large-Cap

Growth

3,711,509,685

1,394,516,911

(382,992,547)

1,011,524,364

2.3 Large-Cap

Value

3,557,111,521

1,533,133,218

(118,722,139)

1,414,411,079

2.4 Mid-Cap

Growth

1,185,423,846

156,359,002

(236,346,971)

(79,987,969)

2.5 Mid-Cap

Value

1,682,818,289

259,741,356

(151,649,205)

108,092,151

2.6 Quant

Small-Cap

Equity

2,547,938,604

548,187,743

(274,292,222)

273,895,521

2.7 Quant

Small/Mid-Cap

Equity

1,151,679,452

208,269,439

(100,523,493)

107,745,946

2.8 Social

Choice

Equity

4,441,149,389

2,085,479,557

(455,604,057)

1,629,875,500

2.9 Social

Choice

Low

Carbon

Equity

1,055,870,638

129,621,198

(112,533,233)

17,087,965

3.01 Emerging

Markets

Equity

2,050,044,524

67,816,476

(548,845,443)

(481,028,967)

3.1 International

Equity

6,354,682,081

494,774,046

(633,021,699)

(138,247,653)

3.2 International

Opportunities

2,237,420,587

466,440,752

(301,914,459)

164,526,293

3.3 Quant

International

Small-Cap

Equity

1,455,376,982

53,315,333

(244,592,277)

(191,276,944)

3.4 Social

Choice

International

Equity

1,298,183,951

37,172,193

(188,642,257)

(151,470,064)

Fund

Undistributed

ordinary

income

Undistributed

long-term

capital

gains

Unrealized

appreciation

(depreciation)

Capital

loss

carryforwards

Late-year

loss

deferrals

Other

book-to-tax

differences

Total

2.1 Growth

&

Income

$24,695,085

$321,570,812

$1,724,554,283

$–

$–

$(310,429)

$2,070,509,751

2.2 Large-Cap

Growth

23,360,988

–

1,011,487,690

(15,842,152)

–

(205,504)

1,018,801,022

2.3 Large-Cap

Value

74,280,060

192,856,659

1,414,406,977

–

–

(321,644)

1,681,222,052

2.4 Mid-Cap

Growth

4,863,713

–

(79,987,969)

(82,476,807)

–

(125,810)

(157,726,873)

2.5 Mid-Cap

Value

41,363,114

189,015,912

108,091,040

–

–

(282,073)

338,187,993

2.6 Quant

Small-Cap

Equity

16,937,880

132,786,269

273,895,521

–

–

(169,451)

423,450,219

2.7 Quant

Small/Mid-Cap

Equity

9,469,120

73,534,643

107,745,946

–

–

(14,599)

190,735,110

2.8 Social

Choice

Equity

76,754,047

182,365,133

1,629,875,500

–

–

(174,951)

1,888,819,729

2.9 Social

Choice

Low

Carbon

Equity

8,694,392

6,418,088

17,087,965

–

–

(7,492)

32,192,953

3.01 Emerging

Markets

Equity

9,141,867

–

(481,474,103)

(212,672,740)

–

(60,123)

(685,065,099)

3.1 International

Equity

133,673,095

–

(140,364,041)

(248,213,298)

–

(317,817)

(255,222,061)

3.2 International

Opportunities

1,725,332

–

164,081,710

(736,958,036)

–

(53,577)

(571,204,571)

3.3 Quant

International

Small-Cap

Equity

41,735,100

–

(191,858,954)

(119,568,686)

–

(18,546)

(269,711,086)

3.4 Social

Choice

International

Equity

25,726,156

–

(151,719,054)

(7,143,343)

–

(7,245)

(133,143,486)

10/31/2022

10/31/2021

Fund

Ordinary

income

Long-term

capital

gains

Ordinary

income

Long-term

capital

gains

2.1 Growth

&

Income

$

294,227,402

$

796,209,907

$

57,606,075

$

336,070,107

2.2 Large-Cap

Growth

320,994,450

363,177,478

613,008,989

1,208,858,455

2.3 Large-Cap

Value

82,151,692

389,785,204

108,623,018

–

2.4 Mid-Cap

Growth

49,490,967

198,589,104

15,281,591

160,029,392

2.5 Mid-Cap

Value

131,807,949

156,539,967

33,282,878

–

2.6 Quant

Small-Cap

Equity

215,551,902

317,370,612

19,836,676

–

2.7 Quant

Small/Mid-Cap

Equity

113,426,289

82,962,463

9,707,535

11,198,314

2.8 Social

Choice

Equity

214,455,378

463,819,118

83,047,279

–

2.9 Social

Choice

Low

Carbon

Equity

23,294,379

35,614,755

7,175,755

3,861,188

3.01 Emerging

Markets

Equity

218,358,924

123,042,526

32,233,466

113,117,267

3.1 International

Equity

199,887,332

–

77,064,767

–

3.2 International

Opportunities

70,973,021

159,526,627

19,274,950

41,432,472

3.3 Quant

International

Small-Cap

Equity

55,918,997

47,416,556

29,136,779

–

3.4 Social

Choice

International

Equity

25,155,629

4,804,991

9,107,383

–

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Note

7—investment

adviser

and

other

transactions

with

affiliates

Under

the

terms

of

the

Investment

Management

Agreement

with

respect

to

each

Fund, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Funds

have

entered

into

an

Administrative

Service

Agreement

with

the

Adviser

under

which

the

Funds

pay the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Funds.

Under

the

terms

of

a

Retirement

Class

Service

Agreement

with

respect

to

each

Fund,

the

Retirement

Class

of

the

Fund

incurs

an

annual

fee

of

0.25%

of

the

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain

administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statements

of

operations

are

paid

to

the

Adviser

under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

each

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund's

Retail

Class.

The

Premier

Class

of

each

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund's

Premier

Class.

The

Adviser has

contractually

agreed

to

waive

and/or

reimburse

Class

W's

shares'

Management

fees

and

Other

expenses

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses,

trustee

expenses

and

extraordinary

expenses)

in

their

entirety.

The

Adviser

expects

this

waiver

and/or

reimbursement

to

remain

in

effect

indefinitely,

unless

changed

or

terminated

with

approval

of

the

Board.

The

Management

fees

and

Other

expenses

of

Class

W

shares

that

have

been

waived

by the

Adviser may

be

incurred

directly

or

indirectly,

all

or

in

part,

by

investors

in

Class

W

shares.

The

Adviser

has

agreed

to

reimburse

each

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

October

31,

2022

,

the

investment

management

fee,

service

agreement

fee,

distribution

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Fund

Short-term

Long-term

Total

2.1 Growth

&

Income

$

–

$

–

$

–

2.2 Large-Cap

Growth

15,842,152

–

15,842,152

2.3 Large-Cap

Value

–

–

–

2.4 Mid-Cap

Growth

82,476,807

–

82,476,807

2.5 Mid-Cap

Value

–

–

–

2.6 Quant

Small-Cap

Equity

–

–

–

2.7 Quant

Small/Mid-Cap

Equity

–

–

–

2.8 Social

Choice

Equity

–

–

–

2.9 Social

Choice

Low

Carbon

Equity

–

–

–

3.01 Emerging

Markets

Equity

198,236,601

14,436,139

212,672,740

3.1 International

Equity

236,086,832

12,126,466

248,213,298

3.2 International

Opportunities\*

635,592,974

101,365,062

736,958,036

3.3 Quant

International

Small-Cap

Equity

119,568,686

–

119,568,686

3.4 Social

Choice

International

Equity

6,008,832

1,134,511

7,143,343

\*

A

portion

of

International

Opportunities'

capital

loss

carryforwards

is

subject

to

limitation

under

the

Internal

Revenue

Code

and

regulated

regulations.

Investment

management

fee

range

Investment

management

fee-

effective

rate

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1 Growth

&

Income\*

0.300 %

—0.450

%

0.395 %

0.520 %

0.670 %

0.670 %

0.770 %

0.910 %

0.520 %

2.2 Large-Cap

Growth\*

0.300 %

—0.450

%

0.397 0.520 0.670 0.670 0.770 0.910 0.520 2.3 Large-Cap

Value\*

0.300 %

—0.450

%

0.401 0.520 0.670 0.670 0.770 0.910 0.520 2.4 Mid-Cap

Growth\*

0.290 %

—0.480

%

0.449 0.550 0.700 0.700 0.800 0.940 –

2.5 Mid-Cap

Value\*

0.290 %

—0.480

%

0.437 0.550 0.700 0.700 0.800 0.940 –

2.6 Quant

Small-Cap

Equity\*

0.270 %

—0.460

%

0.402 0.530 0.680 0.680 0.780 0.920 0.530 2.7 Quant

Small/Mid-Cap

Equity\*

0.270 %

—0.460

%

0.441 0.530 0.680 0.680 0.780 0.920 0.530 2.8 Social

Choice

Equity

0.150 %

0.150 0.220 0.370 0.370 0.470 0.610 –

2.9 Social

Choice

Low

Carbon

Equity\*

0.200 %

—0.250

%

0.249 0.320 0.470 0.470 0.570 0.710 –

3.01 Emerging

Markets

Equity\*

0.700 %

—0.850

%

0.840 0.950 1.100 1.100 1.200 1.340 0.950 3.1 International

Equity\*

0.350 %

—0.500

%

0.445 0.600 0.750 0.750 0.850 0.990 0.600 3.2 International

Opportunities\*

0.450 %

—0.600

%

0.582 0.700 0.850 0.850 0.950 1.090 0.700 3.3 Quant

International

Small-Cap

Equity\*

0.500 %

—0.650

%

0.642 0.750 0.900 0.900 1.000 1.140 0.750 3.4 Social

Choice

International

Equity\*

0.250 %

—0.300

%

0.299 0.400 0.550 0.550 0.650 0.790 –

\*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund's

net

assets

increase.

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

Effective

May

1,

2022,

for

a

one

year

period, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

This

waiver

is

voluntary

in

nature

and

can

be

discontinued

at

any

time

without

prior

notice

to

shareholders

upon

Board

approval.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Prior

to

May

1,

2022, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waiver)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

The

Funds

receive

voluntary

compensation

from

the

Adviser

in

amounts

that

approximate

the

cost

of

research

services

obtained

from

broker-dealers

and

research

providers

if

the

Adviser

had

purchased

the

research

services

directly.

This

income

received

by

the

Funds is

recognized

in

"Other

income"

on

the

Statements

of

Operations.

At

October

31,

2022,

the

values

of

voluntary

compensation

were

as

follows:

The Funds may

purchase

or

sell

investment

securities

in

transactions

with

affiliated

entities

under

procedures

adopted

by

the

Board,

pursuant

to

the

1940

Act.

These

transactions

are

effected

at

market

rates

without

incurring

broker

commissions.

For

the

year

ended

October

31,

2022,

the

Funds

engaged

in

the

following

security

transactions

with

affiliated

entities:

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

February

28,

2023. The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.1 Growth

&

Income\*

0.290 %

—0.440

%

0.510 %

0.660 %

0.660 %

0.760 %

0.900 %

0.510 %

2.2 Large-Cap

Growth\*

0.275 %

—0.425

%

0.495 0.645 0.645 0.745 0.885 0.495 2.3 Large-Cap

Value\*

0.300 %

—0.450

%

0.520 0.670 0.670 0.650 0.910 0.520 2.5 Mid-Cap

Value\*

0.285 %

—0.475

%

0.545 0.695 0.695 0.795 0.935 –

2.8 Social

Choice

Equity

0.135 %

0.205 0.355 0.355 0.455 0.595 –

3.01 Emerging

Markets

Equity\*

0.700 %

—0.850

%

0.950 1.100 0.940 0.940 1.275 0.950 3.2 International

Opportunities\*

0.450 %

—0.600

%

0.700 0.850 0.640 0.640 1.090 0.700 \*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund's

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

2.5 Mid-Cap

Value\*

0.285 %

—0.475

%

0.545 %

0.695 %

0.695 %

0.795 %

0.935 %

–

%

2.8 Social

Choice

Equity

0.145 %

0.215 0.365 0.365 0.465 0.605 –

3.01 Emerging

Markets

Equity\*

0.700 %

—0.850

%

0.950 1.100 0.970 0.970 1.340 0.950 3.2 International

Opportunities\*

0.450 %

—0.600

%

0.700 0.850 0.700 0.700 1.090 0.700 \*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund's

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Fund

Value

2.1 Growth

&

Income

$1,569,506

2.2 Large-Cap

Growth

1,536,480

2.3 Large-Cap

Value

1,175,512

2.4 Mid-Cap

Growth

402,733

2.5 Mid-Cap

Value

503,208

3.01 Emerging

Markets

Equity

392,228

3.1 International

Equity

1,294,247

3.2 International

Opportunities

690,273

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

A

registered

separate

account

of

TIAA

(collectively

"TIAA

Access")

has

various

sub-accounts

that

invest

in

the

Funds,

and

certain

funds

within

the

Trust

also

make

investments

in

the

Funds.

The

following

is

the

percentage

of

the

Funds'

shares

owned

by

affiliates

as

of

October

31,

2022:

Companies

in

which a

Fund holds

5%

or

more

of

the

outstanding

voting

shares

are

considered

"affiliated

companies"

of

the

Fund, pursuant

to

the

1940

Act.

Information

regarding

transactions

with

affiliated

companies

is

as

follows:

Note

8—emerging

markets

risks

The

Emerging

Markets

Equity

Fund

holds

a

large

portion

of

its

assets

in

emerging

market

securities.

Emerging

market

securities

are

often

subject

to

greater

price

volatility,

less

liquidity

and

higher

rates

of

inflation

and

deflation

than

U.S.

securities.

In

addition,

emerging

markets

may

be

subject

to

greater

political,

economic

and

social

uncertainty,

and

differing

regulatory

environments

that

may

potentially

impact

the

Fund's

ability

to

buy

or

sell

certain

securities

or

repatriate

proceeds

to

U.S.

dollars.

Fund

Purchases

Sales

Realized

gain

(loss)

Growth

&

Income

$

25,650,196

$

13,648,727

$

3,752,542

Large-Cap

Growth

21,249,653

208,099,664

5,402,620

Large-Cap

Value

–

4,594,498

(523,942)

Mid-Cap

Growth

5,912,519

27,284,492

(602,409)

Mid-Cap

Value

796,331

6,162,295

1,708,655

Quant

Small-Cap

Equity

13,233,796

5,385,946

(233,020)

Quant

Small/Mid-Cap

Equity

15,931,543

65,790,358

12,621,649

Social

Choice

Equity

60,287,639

22,189,757

2,229,311

Social

Choice

Low

Carbon

Equity

59,965,135

6,404,772

(1,445,398)

Emerging

Markets

Equity

50,465,294

26,634,618

(4,571,494)

International

Equity

353,891,102

2,760,178

(1,290,896)

International

Opportunities

–

1,156,721

(2,627,855)

Quant

International

Small-Cap

Equity

3,468,552

–

–

Social

Choice

International

Equity

35,565,117

3,696,228

(843,445)

Underlying

Fund

TIAA-CREF

Lifecycle

Funds

TIAA-CREF

Lifestyle

Funds

TIAA-CREF

Managed

Allocation

Fund

TIAA

Access

Total

2.1 Growth

&

Income

%

%

%

%

%

2.2 Large-Cap

Growth

2.3 Large-Cap

Value

2.4 Mid-Cap

Growth

–

–

–

2.5 Mid-Cap

Value

–

–

–

2.6 Quant

Small-Cap

Equity

–

2.7 Quant

Small/Mid-Cap

Equity

–

2.8 Social

Choice

Equity

–

–

–

2.9 Social

Choice

Low

Carbon

Equity

–

–

–

3.01 Emerging

Markets

Equity

3.1 International

Equity

3.2 International

Opportunities

–

3.3 Quant

International

Small-Cap

Equity

–

3.4 Social

Choice

International

Equity

–

–

–

Issue

Value

at

10/31/21

Purchases

cost

Sales

proceeds

Realized

gain

(loss)

Change

in

unrealized

appreciation

(depreciation)

Dividend

income

Shares

at

10/31/22

Value

at

10/31/22

Emerging

Markets

Equity

Fund

Common

stocks

Brazil

Arcos

Dorados

Holdings,

Inc

$

48,305,780

$

–

$

22,820,401

$

(1,28

5,318)

$

28,771,998

$

898,257

7,025,472

$

52,972,059

Total

$48,305,780

–

22,820,401

(1,285,318)

28,771,998

898,257

7,025,472

$52,972,059

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

continued

Note

9—inter-fund

lending

program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Funds may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Funds to

lend

cash

to

and/or

borrow

cash

from

certain

other

affiliated

Funds for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

no

Fund may

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

a

Fund may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund's investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During the year

ended October

31,

2022,

there

were

no

inter-fund

borrowing

or

lending

transactions.

Note

10—line

of

credit

The Funds

participate

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

14,

2022

expiring

on

June

13,

2023,

replacing

the

previous facility,

which

expired

June

2022. Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by the

Adviser,

or

an

affiliate

of

the

Adviser, 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

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The Funds are

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

For

the year

ended

October

31,

2022,

there

were

no

borrowings

under

this

credit

facility

by

the

Funds.

Note

11—fund

reorganization

The

Reorganization,

as

previously

described

in

Note

1—organization,

Fund

reorganization,

was

structured

to

qualify

as

a

tax-free

reorganization

under

the

Code

for

federal

income

tax

purposes,

and

the

Target

Fund's

shareholders

recognized

no

gain

or

loss

for

federal

income

tax

purposes

as

a

result.

Prior

to

the

closing

of

the

Reorganization,

the

Target

Fund

distributed

all

of

its

net

investment

income

and

capital

gains,

if

any.

Such

distribution

may

be

taxable

to

the

Target

Fund's

shareholders

for

federal

income

tax

purposes.

Investments

of

the

Target

Fund

The

cost,

fair

value

and

net

unrealized

appreciation

(depreciation)

of

the

investments

of

the

Target

Fund

as

of

the

date

of

the

Reorganization

were

as

follows:

For

financial

reporting

purposes,

assets

received

and

shares

issued

by

the

Acquiring

Fund

was

recorded

at

fair

value;

however,

the

cost

basis

of

the

investments

received

from

the

Target

Fund

was

carried

forward

to

align

ongoing

reporting

of

the

Acquiring

Fund's

realized

and

unrealized

gains

and

losses

with

amounts

distributable

to

shareholders

for

tax

purposes.

Share

transactions

The

shares

outstanding,

net

assets

and

NAV

per

share

immediately

prior

to

and

after

the

Reorganization

were

as

follows:

Nuveen

International

Growth

Fund

Cost

of

investments

$393,453,802

Fair

value

of

investments

440,656,370

Net

unrealized

appreciation

(depreciation)

of

investments

7,202,567

Target

Fund

-

Prior

to

Reorganization

Shares

Outstanding

Net

Assets

NAV

per

Share

Nuveen

International

Growth

Fund

Class

A

739,771

$26,886,405

$36.34

Class

C

77,261

2,618,880

33.90 Class

I

1,430,433

52,653,335

36.81 Class

R6

10,414,536

381,409,283

36.62 Acquiring

Fund

-

Prior

to

Reorganization

Shares

Outstanding

Net

Assets

NAV

per

Share

International

Opportunities

Institutional

Class

8,906,987

$112,009,385

$12.58

Advisor

Class

756,425

9,500,078

12.56 Premier

Class

181,039

2,281,925

12.60 Retirement

Class

7,773,128

97,433,080

12.53 Retail

Class

578,629

7,268,587

12.56 Class

W

137,405,075

1,730,267,477

12.59 205

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

concluded

Pro

forma

results

of

operations

(unaudited)

The

beginning

of

the

current

fiscal

period

for

the

Nuveen

International

Growth

Fund

was

August

1,

2022. Assuming

the

Reorganization

had

been

completed

on

November

1,

2022,

the

beginning

of

the

Acquiring

Fund's

current

fiscal

period,

the

pro

forma

results

of

operations

for

the

current

fiscal

period

are

as

follows:

Because

the

combined

investment

portfolios

for

the

Reorganization

have

been

managed

as

a

single

integrated

portfolio

since

the

Reorganization

was

completed,

it

is

not

practicable

to

separate

the

amounts

of

revenue

and

earnings

of

the

Target

Fund

that

have

been

included

in

the

Statements

of

operations

for

the

Acquiring

Fund

since

the

Reorganization

was

consummated.

Cost

and

Expenses

In

connection

with

the

Reorganization,

the

Acquiring

Fund

incurred

certain

associated

costs

and

expenses.

Such

amounts

were

included

as

a

component

of

"Accrued

other

expenses"

on

the

Statement

of

Assets

and

Liabilities

and

"Other

expenses"

on

the

Statement

of

Operations.

Acquiring

Fund

-

After

Reorganization

Shares

Outstanding

Net

Assets

NAV

per

Share

International

Opportunities

Institutional

Class

10,604,877

$133,361,187

$12.58

Advisor

Class

4,948,840

62,153,413

12.56 Premier

Class

181,038

2,281,925

12.60 Retirement

Class

7,773,128

97,433,080

12.53 Retail

Class

2,927,456

36,773,873

12.56 Class

W

165,998,101

2,090,324,957

12.59 Acquiring

Fund

-

Pro

Forma

Results

from

Operations

International

Opportunities

Net

investment

income

(loss)

$52,640,418

Net

realized

and

unrealized

gains

(losses)

(1,539,106,787)

Change

in

net

assets

resulting

from

operations

(1,486,466,369)

Report

of

Independent

Registered

Public

Accounting

Firm

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

To

the

Board

of

Trustees

of

TIAA-CREF

Funds

and

Shareholders

of

TIAA-CREF

Growth

&

Income

Fund,

TIAA-CREF

Large-Cap

Growth

Fund,

TIAA-CREF

Large-Cap

Value

Fund,

TIAA-CREF

Mid-Cap

Growth

Fund,

TIAA-CREF

Mid-Cap

Value

Fund,

TIAA-CREF

Quant

Small-Cap

Equity

Fund,

TIAA-CREF

Quant

Small/Mid-Cap

Equity

Fund,

TIAA-CREF

Social

Choice

Equity

Fund,

TIAA-CREF

Social

Choice

Low

Carbon

Equity

Fund,

TIAA-CREF

Emerging

Markets

Equity

Fund,

TIAA-CREF

International

Equity

Fund,

TIAA-CREF

International

Opportunities

Fund,

TIAA-CREF

Quant

International

Small-Cap

Equity

Fund

and

TIAA-CREF

Social

Choice

International

Equity

Fund

Opinions

on

the

Financial

Statements

We

have

audited

the

accompanying

statements

of

assets

and

liabilities,

including

the

portfolios

of

investments,

of

TIAA-CREF

Growth

&

Income

Fund,

TIAA-CREF

Large-Cap

Growth

Fund,

TIAA-CREF

Large-Cap

Value

Fund,

TIAA-CREF

Mid-Cap

Growth

Fund,

TIAA-CREF

Mid-Cap

Value

Fund,

TIAA-CREF

Quant

Small-Cap

Equity

Fund,

TIAA-CREF

Quant

Small/Mid-Cap

Equity

Fund,

TIAA-CREF

Social

Choice

Equity

Fund,

TIAA-CREF

Social

Choice

Low

Carbon

Equity

Fund,

TIAA-CREF

Emerging

Markets

Equity

Fund,

TIAA-CREF

International

Equity

Fund,

TIAA-CREF

International

Opportunities

Fund,

TIAA-CREF

Quant

International

Small-Cap

Equity

Fund

and

TIAA-CREF

Social

Choice

International

Equity

Fund

(fourteen

of

the

funds

constituting

TIAA-CREF

Funds,

hereafter

collectively

referred

to

as

the

"Funds")

as

of

October

31,

2022,

the

related

statements

of

operations

for

the

year

ended

October

31,

2022,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

periods

indicated

therein

(collectively

referred

to

as

the

"financial

statements").

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

as

of

October

31,

2022,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022

and

each

of

the

financial

highlights

for

each

of

the

periods

indicated

therein

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

of

the

Funds'

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds'

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2022

by

correspondence

with

the

custodian

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/PricewaterhouseCoopers

LLP

Charlotte,

North Carolina

December

22,

2022

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

TIAA-CREF

Funds'

investment

company

group

since

2005. 207

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Important

tax

information

(unaudited)

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-term

capital

gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

allowable

amount,

as

being

from

net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code:

Dividends

received

deduction

(DRD)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

eligible

for

the

dividends

received

deduction

for

corporate

shareholders:

Fund

Net

long-term

capital

gains

2.1 Growth

&

Income

$

822,466,686

2.2 Large-Cap

Growth

363,177,478

2.3 Large-Cap

Value

410,737,163

2.4 Mid-Cap

Growth

198,589,104

2.5 Mid-Cap

Value

170,180,326

2.6 Quant

Small-Cap

Equity

326,821,997

2.7 Quant

Small/Mid-Cap

Equity

87,446,800

2.8 Social

Choice

Equity

485,212,923

2.9 Social

Choice

Low

Carbon

Equity

36,337,341

3.01 Emerging

Markets

Equity

123,042,526

3.1 International

Equity

–

3.2 International

Opportunities

159,526,627

3.3 Quant

International

Small-Cap

Equity

47,416,556

3.4 Social

Choice

International

Equity

4,804,991

Fund

Percentage

2.1 Growth

&

Income

21.2 %

2.2 Large-Cap

Growth

6.8 2.3 Large-Cap

Value

100.0 2.4 Mid-Cap

Growth

3.7 2.5 Mid-Cap

Value

21.0 2.6 Quant

Small-Cap

Equity

10.6 2.7 Quant

Small/Mid-Cap

Equity

11.4 2.8 Social

Choice

Equity

39.9 2.9 Social

Choice

Low

Carbon

Equity

43.2 3.01 Emerging

Markets

Equity

–

3.1 International

Equity

–

3.2 International

Opportunities

–

3.3 Quant

International

Small-Cap

Equity

0.4 3.4 Social

Choice

International

Equity

–

Important

tax

information

(unaudited)

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Qualified

dividend

income

(QDI)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

dividend

income

for

individuals

pursuant

to

Section

1(h)(11)

of

the

Internal

Revenue

Code:

Qualified

interest

income

(QII)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

interest

income

and/or

short-term

capital

gain

dividends pursuant

to

Section

871(k)

of

the

Internal

Revenue

Code:

Foreign

source

income

and

foreign

tax

credit

pass

through

Each

Fund

listed

below

has

made

an

election

under

Section

853

of

the

Internal

Revenue

Code

to

pass

through

foreign

taxes

paid:

Fund

Percentage

2.1 Growth

&

Income

23.1 %

2.2 Large-Cap

Growth

8.2 2.3 Large-Cap

Value

100.0 2.4 Mid-Cap

Growth

5.3 2.5 Mid-Cap

Value

22.8 2.6 Quant

Small-Cap

Equity

10.7 2.7 Quant

Small/Mid-Cap

Equity

11.7 2.8 Social

Choice

Equity

41.1 2.9 Social

Choice

Low

Carbon

Equity

44.2 3.01 Emerging

Markets

Equity

13.3 3.1 International

Equity

86.4 3.2 International

Opportunities

52.1 3.3 Quant

International

Small-Cap

Equity

30.7 3.4 Social

Choice

International

Equity

81.1 Fund

Prior

Year

End

to

12/31

Percentage

1/1

to

Current

Year

End

Percentage

2.1 Growth

&

Income

0.0 %

0.0 %

2.2 Large-Cap

Growth

0.0 0.0 2.3 Large-Cap

Value

0.0 0.0 2.4 Mid-Cap

Growth

0.0 0.0 2.5 Mid-Cap

Value

0.0 0.0 2.6 Quant

Small-Cap

Equity

0.0 0.0 2.7 Quant

Small/Mid-Cap

Equity

0.0 0.0 2.8 Social

Choice

Equity

0.0 0.0 2.9 Social

Choice

Low

Carbon

Equity

0.0 0.0 3.01 Emerging

Markets

Equity

0.0 0.0 3.1 International

Equity

0.0 0.0 3.2 International

Opportunities

0.1 2.8 3.3 Quant

International

Small-Cap

Equity

0.0 0.0 3.4 Social

Choice

International

Equity

0.0 0.0 Fund

Foreign

source

income

Foreign

source

income

per

share

Qualifying

foreign

taxes

paid

Qualifying

foreign

taxes

paid

per

share

2.1 Growth

&

Income

$

–

$

–

$

–

$

–

2.2 Large-Cap

Growth

–

–

–

–

2.3 Large-Cap

Value

–

–

–

–

2.4 Mid-Cap

Growth

–

–

–

–

2.5 Mid-Cap

Value

–

–

–

–

2.6 Quant

Small-Cap

Equity

–

–

–

–

2.7 Quant

Small/Mid-Cap

Equity

–

–

–

–

2.8 Social

Choice

Equity

–

–

–

–

2.9 Social

Choice

Low

Carbon

Equity

–

–

–

–

3.01 Emerging

Markets

Equity

48,037,968

0.19846 3,357,722

0.01387 3.1 International

Equity

144,508,569

0.24187 11,804,679

0.01976 3.2 International

Opportunities

35,945,900

0.18844 2,978,729

0.01562 3.3 Quant

International

Small-Cap

Equity

49,012,745

0.35623 4,064,992

0.02955 3.4 Social

Choice

International

Equity

29,119,856

0.25991 2,787,595

0.02488 209

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

Additional

fund

information

Portfolio

holdings

Securities

and

Exchange

Commission

(SEC)

rules

allow

investment

companies

to

list

the

top

holdings

of

each

fund

in

their

annual

and

semiannual

reports

instead

of

providing

complete

portfolio

listings.

The

TIAA-CREF

Funds

also

file

complete

portfolio

listings

with

the

SEC,

and

they

are

available

to

the

public.

You

can

obtain

a

complete

list

of

the

TIAA-CREF

Funds'

holdings

(Schedules

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

websites

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

TIAA-CREF

Funds'

portfolio

holdings

as

of

the

most

recently

completed

fiscal

quarter,

and

for

prior

quarter-ends,

from

our

SEC

Form

N-CSR

and

Form

N-PORT

or

Form

N-Q

filings.

Form

N-CSR

filings

are

as

of

October

or

April

30;

Form

N-PORT

or

Form

N-Q

filings

are

as

of

January

or

July

31. Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC's

website

at

sec.gov;

or

From

the

SEC's

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

TIAA-CREF

Funds'

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.org

or

on

the

SEC's

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

to

request

a

free

copy.

A

report

of

how

the

funds

voted

during

the

most

recently

completed

twelve-month

period

ended

June

can

be

found

on

our

website

or

on

Form

N-PX

at

sec.gov.

Contacting

TIAA

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,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

TIAA-CREF

Funds

are

managed

by

the

portfolio

management

teams

of

Teachers

Advisors,

LLC. The

members

of

these

teams

are

responsible

for

the

day-to-day

investment

management

of

the

funds.

TIAA-CREF

Funds

October

31,

2022

Trustees

and

officers

(unaudited)

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

Trustees

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Forrest

Berkley

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2006. Partner

(1990–2005)

and

Head

of

Global

Product

Management

(2003–2005),

GMO

(formerly,

Grantham,

Mayo,

Van

Otterloo

&

Co.)

(investment

management),

and

member

of

asset

allocation

portfolio

management

team,

GMO

(2003–2005).

Mr.

Berkley

has

particular

experience

in

investment

management,

global

operations

and

finance,

as

well

as

experience

with

non-profit

organizations

and

foundations.

Investment

Committee

Member,

Maine

Community

Foundation.

Joseph

A. Boateng

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Trustee

Indefinite

term.

Trustee

since

2019. Chief

Investment

Officer,

Casey

Family

Programs

(since

2007).

Director

of

U.S.

Pension

Plans,

Johnson

&

Johnson

(2002–2006).

Mr.

Boateng

has

particular

experience

in

investments,

pensions,

and

public

finance.

Board

Member,

Lumina

Foundation

and

Waterside

School;

Emeritus

Board

Member,

Year-Up

Puget

Sound;

Investment

Advisory

Committee

Chair,

Seattle

City

Employees'

Retirement

System;

Investment

Committee

Member,

The

Seattle

Foundation.

Janice

C. Eberly

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2018. James

R. and

Helen

D. Russell

Professor

of

Finance

at

the

Kellogg

School

of

Management,

Northwestern

University

(2002–2011

and

since

2013),

Senior

Associate

Dean

for

Strategy

and

Academics

(since

2020)

and

Chair

of

the

Finance

Department

(2005–

2007).

Vice

President,

American

Economic

Association

(2020–2021).

Assistant

Secretary

for

Economic

Policy,

United

States

Department

of

the

Treasury

(2011–2013).

Prof.

Eberly

has

particular

experience

in

education,

finance

and

public

economic

policy.

Member

of

the

Board

of

the

Office

of

Finance,

Federal

Home

Loan

Banks;

Director,

Avant,

LLC. Nancy

A. Eckl

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2007. Vice

President

(1990–2006),

American

Beacon

Advisors,

Inc.

and

of

certain

funds

advised

by

American

Beacon

Advisors,

Inc.

Ms.

Eckl

has

particular

experience

in

investment

management,

mutual

funds,

pension

plan

management,

finance,

accounting

and

operations.

Ms.

Eckl

is

licensed

as

a

certified

public

accountant

in

the

State

of

Texas.

Independent

Director,

The

Lazard

Funds,

Inc.,

Lazard

Retirement

Series,

Inc.

and

Lazard

Global

Total

Return

and

Income

Fund,

Inc.

Michael

A. Forrester

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1967

Trustee

Indefinite

term.

Trustee

since

2007. Chief

Executive

Officer

(2014–2021)

and

Chief

Operating

Officer

(2007–2014),

Copper

Rock

Capital

Partners,

LLC. Mr.

Forrester

has

particular

experience

in

investment

management,

institutional

marketing

and

product

development,

operations

management,

alternative

investments

and

experience

with

non-profit

organizations.

Trustee,

Dexter

Southfield

School;

Member,

Governing

Council

of

the

Independent

Directors

Council.

Howell

E. Jackson

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2005. James

S. Reid,

Jr.

Professor

of

Law

(since

2004),

Senior

Adviser

to

President

and

Provost

(2010–2012),

Acting

Dean

(2009),

Vice

Dean

for

Budget

(2003–2006)

and

on

the

faculty

(since

1989)

of

Harvard

Law

School.

Prof.

Jackson

has

particular

experience

in

law,

including

financial

regulation,

federal

securities

laws,

consumer

protection,

finance,

federal

budget

policy,

pensions

and

Social

Security,

and

organizational

management

and

education.

Director,

Build

Commonwealth

(non-profit

organization).

TIAA-CREF

Funds:

Equity

Funds

2022

Annual

Report

continued

Officers

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Thomas

J. Kenny

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Chairman

of

the

Board

and

Trustee

Indefinite

term.

Trustee

since

2011;

Chairman

for

term

ending

June

30,

2023. Chairman

since

September

13,

2017. Advisory

Director

(2010–2011),

Partner

(2004–2010),

Managing

Director

(1999–2004)

and

Co-Head

of

Global

Cash

and

Fixed

Income

Portfolio

Management

Team

(2002–2010),

Goldman

Sachs

Asset

Management.

Mr.

Kenny

has

particular

experience

in

investment

management

of

mutual

funds

and

alternative

investments,

finance,

and

operations

management,

as

well

as

experience

on

non-profit

boards.

He

is

designated

as

an

audit

committee

financial

expert.

Director

and

Chair

of

the

Finance

and

Investment

Committee,

Aflac

Incorporated;

Director,

ParentSquare;

Member,

University

of

California

at

Santa

Barbara

Arts

and

Lectures

Advisory

Council.

James

M. Poterba

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1958

Trustee

Indefinite

term.

Trustee

since

2006. President

and

Chief

Executive

Officer

(since

2008)

and

Program

Director

(1990–2008),

National

Bureau

of

Economic

Research.

Mitsui

Professor

of

Economics,

Massachusetts

Institute

of

Technology

("MIT")

(since

1996);

Affiliated

Faculty

Member

of

the

Finance

Group,

Alfred

P. Sloan

School

of

Management

(since

2014);

Head

(2006–2008)

and

Associate

Head

(1994–2000

and

2001–2006),

Economics

Department

of

MIT.

Prof.

Poterba

has

particular

experience

in

education,

economics,

finance,

tax,

and

organizational

development.

Director,

National

Bureau

of

Economic

Research;

Member,

Congressional

Budget

Office

Panel

of

Economic

Advisers.

Loren

M. Starr

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1961

Trustee

Indefinite

term.

Trustee

since

2022. Independent

Consultant/Advisor

(2021–Present).

Vice

Chair,

Senior

Managing

Director

(2020–2021),

Chief

Financial

Officer,

Senior

Managing

Director

(2005–

2020),

Invesco

Ltd.

Mr.

Starr

has

particular

experience

in

finance,

investment

management

of

mutual

funds,

exchange-traded

funds

and

other

alternative

investments,

corporate

strategy

and

development

and

regulatory

change

management.

None

currently.

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

Richard

S. Biegen

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1962

Chief

Compliance

Officer

One-year

term.

Chief

Compliance

Officer

since

2008. Senior

Managing

Director,

TIAA.

Chief

Compliance

Officer

of

the

College

Retirement

Equities

Fund

("CREF"),

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

(collectively,

the

"TIAA-CREF

Fund

Complex").

Derek

B. Dorn

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1976

Senior

Managing

Director

and

Corporate

Secretary

One-year

term.

Senior

Managing

Director

and

Corporate

Secretary

since

2020. Senior

Managing

Director

and

Corporate

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America

("TIAA")

and

the

TIAA-CREF

Fund

Complex.

Formerly,

Managing

Director,

Special

Assistant

to

the

CEO

and

Managing

Director,

Regulatory

Affairs,

TIAA.

John

L. Douglas

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1950

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

One-year

term.

Executive

Vice

President

since

2021

and

Chief

Legal,

Risk

and

Compliance

Officer

since

2022. Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA.

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Senior

Advisor

to

the

CEO,

and

Senior

Executive

Vice

President,

Chief

Advocacy

&

Oversight

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Douglas

was

a

Partner

at

Davis

Polk

&

Wardwell

LLP.

W. Dave

Dowrich

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1967

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022. Senior

Executive

Vice

President

and

Chief

Financial

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Prior

to

joining

TIAA,

Mr.

Dowrich

served

as

Chief

Financial

Officer,

International

Businesses

at

Prudential

Financial,

Inc.

Trustees

and

officers

(unaudited)

TIAA-CREF

Funds

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Funds

concluded

Please

note

that

the

Funds'

Statement

of

Additional

Information

(SAI)

includes

additional

information

about

the

Funds'

trustees

and

is

available,

without

charge,

through

our

website,

tiaa.org,

or

by

calling

800

223-1200.

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

Bradley

Finkle

TIAA

730

Third

Avenue

New

York,

NY 10017-3206

YOB:

1973

Principal

Executive

Officer

and

President

One-year

term.

Principal

Executive

Officer

and

President

since

2017. Executive

Vice

President,

Head

of

Complementary

Businesses

and

Chief

Administrative

Officer,

Office

of

the

Chief

Operating

Officer.

Formerly,

Executive

Vice

President,

Chief

Operating

Officer,

Nuveen;

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

Jose

Minaya

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1971

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018. Chief

Executive

Officer,

Nuveen.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Executive

Vice

President,

President

and

Chief

Investment

Officer,

Nuveen.

Colbert

Narcisse

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1965

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022. Senior

Executive

Vice

President,

Chief

Product

and

Business

Development

Officer

of

TIAA.

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

Executive

Vice

President

of

TIAA-CREF

Funds

and

TIAA-

CREF

Life

Funds.

Formerly,

Executive

Vice

President

and

Head

of

Advisory

and

Corporate

Solutions,

TIAA.

Prior

to

joining

TIAA,

Mr.

Narcisse

served

as

Managing

Director

and

Head

of

International

Wealth

Management

and

Head

of

Traditional

and

Alternative

Investment

Products

at

Morgan

Stanley.

David

G. Nason

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2020. Senior

Executive

Vice

President,

Chief

Operating

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA,

Executive

Vice

President,

Chief

Risk

and

Compliance

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Nason

served

as

President

and

CEO

of

GE

Energy

Financial

Services.

E. Scott

Wickerham

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1973

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

One-year

term.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

since

2017. Senior

Managing

Director,

Head,

Public

Investment

Finance,

Nuveen.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

of

the

TIAA-CREF

Fund

Complex;

and

Vice

President

and

Controller

of

the

Nuveen

Funds.

Formerly,

Managing

Director,

Head,

TC

Fund

Administration,

Nuveen.

Sean

N. Woodroffe

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018. Senior

Executive

Vice

President,

Chief

People

Officer

of

TIAA

and

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex. Prior

to

joining

TIAA,

Mr.

Woodroffe

served

as

Chief

People

Officer

at

National

Life

Group.

Additional

information

about

index

providers

(unaudited)

TIAA-CREF

Funds:

Equity

Funds

Annual

Report

Russell

Indexes

Source:

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

"LSE

Group").©

LSE

Group

2022. FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

"FTSE®,"

"Russell®"

and

"FTSE

Russell®"

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company's

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

Standard

&

Poor's

Index

The

S&P

500®

Index

is

a

product

of

S&P

Dow

Jones

Indices

LLC,

a

division

of

S&P

Global,

or

its

affiliates

("SPDJI"),

and has

been

licensed

for

use

by

the

Growth

&

Income

Fund.

Standard

&

Poor's®

and

S&P®

are

registered

trademarks

of

Standard

&

Poor's

Financial

Services

LLC,

a

division

of

S&P

Global

("S&P");

Dow

Jones®

is

a

registered

trademark

of

Dow

Jones

Trademark

Holdings

LLC

("Dow

Jones").

It

is

not

possible

to

invest

directly

in

an

index.

The

fund

is not

sponsored,

endorsed,

sold

or

promoted

by

SPDJI,

Dow

Jones,

S&P,

any

of

their

respective

affiliates

(collectively,

"S&P

Dow

Jones

Indices").

S&P

Dow

Jones

Indices

does

not

make

any

representation

or

warranty,

express

or

implied,

to

the

owners

of

the fund

or

any

member

of

the

public

regarding

the

advisability

of

investing

in

securities

generally

or

in

the fund

particularly

or

the

ability

of

the

S&P

500

Index to

track

general

market

performance.

Past

performance

of

an

index

is

not

an

indication

or

guarantee

of

future

results.

S&P

Dow

Jones

Indices'

only

relationship

to

the

fund

with

respect

to

the

S&P

500

Index is

the

licensing

of

the Index

and

certain

trademarks,

service

marks

and/or

trade

names

of

S&P

Dow

Jones

Indices

and/or

its

licensors.

The S&P

500

Index

is

determined,

composed

and

calculated

by

S&P

Dow

Jones

Indices

without

regard

to

the

fund.

S&P

Dow

Jones

Indices

has

no

obligation

to

take

the

needs

of

the fund

or

the

owners

of

the fund

into

consideration

in

determining,

composing

or

calculating

the

S&P

500

Index.

S&P

Dow

Jones

Indices

is

not

responsible

for

and

has

not

participated

in

the

determination

of

the

prices,

and

amount

of

the fund

or

the

timing

of

the

issuance

or

sale

of

fund

shares

or

in

the

determination

or

calculation

of

the

equation

by

which fund

shares

are

to

be

converted

into

cash,

surrendered

or

redeemed,

as

the

case

may

be.

S&P

Dow

Jones

Indices

has

no

obligation

or

liability

in

connection

with

the

administration,

marketing

or

trading

of

the

fund.

There

is

no

assurance

that

investment

products

based

on

the

S&P 500

Index

will

accurately

track

index

performance

or

provide

positive

investment

returns.

S&P

Dow

Jones

Indices

LLC

is

not

an

investment

or

tax

advisor.

A

tax

advisor

should

be

consulted

to

evaluate

the

impact

of

any

tax-exempt

securities

on

portfolios

and

the

tax

consequences

of

making

any

particular

investment

decision.

Inclusion

of

a

security

within

an

index

is

not

a

recommendation

by

S&P

Dow

Jones

Indices

to

buy,

sell,

or

hold

such

security,

nor

is

it

considered

to

be

investment

advice.

S&P

DOW

JONES

INDICES

DOES

NOT

GUARANTEE

THE

ADEQUACY,

ACCURACY,

TIMELINESS

AND/OR

THE

COMPLETENESS

OF

THE

S&P 500

Index

OR

ANY

DATA

RELATED

THERETO

OR

ANY

COMMUNICATION,

INCLUDING

BUT

NOT

LIMITED

TO,

ORAL

OR

WRITTEN

COMMUNICATION

(INCLUDING

ELECTRONIC

COMMUNICATIONS)

WITH

RESPECT

THERETO.

S&P

DOW

JONES

INDICES

SHALL

NOT

BE

SUBJECT

TO

ANY

DAMAGES

OR

LIABILITY

FOR

ANY

ERRORS,

OMISSIONS,

OR

DELAYS

THEREIN.

S&P

DOW

JONES

INDICES

MAKES

NO

EXPRESS

OR

IMPLIED

WARRANTIES,

AND

EXPRESSLY

DISCLAIMS

ALL

WARRANTIES,

OF

MERCHANTABILITY

OR

FITNESS

FOR

A

PARTICULAR

PURPOSE

OR

USE

OR

AS

TO

RESULTS

TO

BE

OBTAINED

BY

THE

FUND,

OWNERS

OF

THE

FUND,

OR

ANY

OTHER

PERSON

OR

ENTITY

FROM

THE

USE

OF

THE

S&P

500

INDEX

OR

WITH

RESPECT

TO

ANY

DATA

RELATED

THERETO.

WITHOUT

LIMITING

ANY

OF

THE

FOREGOING,

IN

NO

EVENT

WHATSOEVER

SHALL

S&P

DOW

JONES

INDICES

BE

LIABLE

FOR

ANY

INDIRECT,

SPECIAL,

INCIDENTAL,

PUNITIVE,

OR

CONSEQUENTIAL

DAMAGES

INCLUDING

BUT

NOT

LIMITED

TO,

LOSS

OF

PROFITS,

TRADING

LOSSES,

LOST

TIME

OR

GOODWILL,

EVEN

IF

THEY

HAVE

BEEN

ADVISED

OF

THE

POSSIBILITY

OF

SUCH

DAMAGES,

WHETHER

IN

CONTRACT,

TORT,

STRICT

LIABILITY,

OR

OTHERWISE.

THERE

ARE

NO

THIRD

PARTY

BENEFICIARIES

OF

ANY

AGREEMENTS

OR

ARRANGEMENTS

BETWEEN

S&P

DOW

JONES

INDICES

AND

THE

FUND,

OTHER

THAN

THE

LICENSORS

OF

S&P

DOW

JONES

INDICES.

MSCI

Indexes

Source:

MSCI.

The

MSCI

information

may

only

be

used

for

your

internal

use,

may

not

be

reproduced

or

redisseminated

in

any

form

and

may

not

be

used

as

a

basis

for

or

a

component

of

any

financial

instruments

or

products

or

indices.

None

of

the

MSCI

information

is

intended

to

constitute

investment

advice

or

a

recommendation

to

make

(or

refrain

from

making)

any

kind

of

investment

decision

and

may

not

be

relied

on

as

such.

Historical

data

and

analysis

should

not

be

taken

as

an

indication

or

guarantee

of

any

future

performance

analysis,

forecast

or

prediction.

The

MSCI

information

is

provided

on

an

"as

is"

basis

and

the

user

of

this

information

assumes

the

entire

risk

of

any

use

made

of

this

information.

MSCI,

each

of

its

affiliates

and

each

other

person

involved

in

or

related

to

compiling,

computing

or

creating

any

MSCI

information

(collectively,

the

"MSCI

Parties")

expressly

disclaims

all

warranties

(including,

without

limitation,

any

warranties

of

originality,

accuracy,

completeness,

timeliness,

non-infringement,

merchantability

and

fitness

for

a

particular

purpose)

with

respect

to

this

information.

Without

limiting

any

of

the

foregoing,

in

no

event

shall

any

MSCI

Party

have

any

liability

for

any

direct,

indirect,

special,

incidental,

punitive,

consequential

(including,

without

limitation,

lost

profits)

or

any

other

damages.

(www.msci.com)

How

to

reach

us©2022

Teachers

Insurance

and

Annuity

Association

of

America—College

Retirement

Equities

Fund,

730

Third

Avenue,

New

York,

NY

10017-3206

Websites

TIAA.org

nuveen.com

Automated

telephone

service

800-842-2252

hours

a

day,

days

a

week

For

the

hearing-

or

speech-impaired

800-842-2755

a.m.

to

p.m.

(ET),

Monday–Friday

You

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

information,

please

visit

TIAA.org,

or

call

800-842-2252

for

the

Institutional,

Advisor,

Premier,

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

Please

read

the

prospectus

carefully

before

investing.

Investment,

insurance

and

annuity

products

are

not

Federal

Deposit

Insurance

Corporation

(FDIC)

insured,

are

not

bank

guaranteed,

are

not

bank

deposits,

are

not

insured

by

any

federal

government

agency,

are

not

a

condition

to

any

banking

service

or

activity,

and

may

lose

value.

Nuveen,

a

subsidiary

of

TIAA,

provides

investment

advice

and

portfolio

management

services

through

a

dozen

affiliated

registered

investment

advisers.

Nuveen

Securities,

LLC

and

TIAA-CREF

Individual

&

Institutional

Services,

LLC,

members

FINRA,

distribute

securities

products.

This

material

is

for

informational

or

educational

purposes

only

and

does

not

constitute

fiduciary

investment

advice

under

ERISA,

a

securities

recommendation

under

all

securities

laws,

or

an

insurance

product

recommendation

under

state

insurance

laws

or

regulations.

This

material

does

not

take

into

account

any

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor's

own

objectives

and

circumstances.

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Equity

Index

Funds

TIAA-CREF

#### Annual

#### Report
TIAA-CREF

Funds

October

31,

2022

The

annual

report

contains

the

audited

financial

statements.

Fund

name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

4.1 Equity

Index

Fund

TIEIX

TEIHX

TCEPX

TIQRX

TINRX

TEQWX

4.2 Large-Cap

Growth

Index

Fund

TILIX

TRIHX

–

TRIRX

–

TRIWX

4.3 Large-Cap

Value

Index

Fund

TILVX

THCVX

–

TRCVX

–

THCWX

4.4 S&P

500

Index

Fund

TISPX

TISAX

–

TRSPX

–

TISWX

4.5 Small-Cap

Blend

Index

Fund

TISBX

TRHBX

–

TRBIX

–

–

4.6 Emerging

Markets

Equity

Index

Fund

TEQLX

TEQHX

TEQPX

TEQSX

TEQKX

TENWX

4.7 International

Equity

Index

Fund

TCIEX

TCIHX

TRIPX

TRIEX

–

TCIWX

Contents

Understanding

this

report

Letter

to

investors

Market

monitor

About

the

funds'

benchmarks

Fund

performance

Portfolio

managers'

comments

Equity

Index

Fund

Large-Cap

Growth

Index

Fund

Large-Cap

Value

Index

Fund

S&P

500

Index

Fund

Small-Cap

Blend

Index

Fund

Emerging

Markets

Equity

Index

Fund

International

Equity

Index

Fund

Expense

examples

Portfolio

of

investments

Audited

financial

statements

Statements

of

assets

and

liabilities

Statements

of

operations

Statements

of

changes

in

net

assets

Financial

highlights

Notes

to

financial

statements

Report

of

Independent

Registered

Public

Accounting

Firm

Important

tax

information

Additional

fund

information

Trustees

and

officers

Additional

information

about

index

providers

How

to

reach

us

Inside

back

cover

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Understanding

this

report

For

the

purposes

of

this

report,

"TIAA-CREF

Funds"

refers

only

to

the

TIAA-CREF

Equity

Index

Funds

listed

on

the

cover

of

this

report.

This

annual

report

contains

information

about

certain

TIAA-CREF

Funds

and

describes

their

results

for

the

twelve

months

ended

October

31,

2022

.

The

report

contains

four

main

sections:

A

letter

from

Brad

Finkle,

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

The

fund

performance

section

compares

each

fund's

investment

returns

with

those

of

its

benchmark

index.

The

portfolios

of

investments

list

the

industries

and

types

of

securities

in

which

each

fund

had

investments

as

of

October

31,

2022

.

The

financial

statements

provide

detailed

information

about

the

operations

and

financial

condition

of

each

fund.

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

any

fund,

please

read

the

latest

prospectus.

As

always,

you

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

important

information,

please

visit

our

websites

at

TIAA.org

or

nuveen.com,

or

call

800-842-

2252

for

the

Institutional,

Advisor,

Premier

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

We

urge

you

to

read

the

prospectus

carefully

before

investing.

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Letter

to

investors

![](g441435epub31688268709888.jpg)

Brad

Finkle

Global

stocks

posted

losses

for

the

twelve

months

ended

October

31,

2022. The

U.S.

economy

fluctuated

during

the

period,

experiencing

both

contraction

and

expansion.

The

Federal

Reserve

responded

to

growing

inflationary

pressure

by

aggressively

tightening

monetary

policy.

Other

economies

around

the

world

generally

grew

at

a

moderate

pace,

but

persistent

inflation

was

a

common

concern.

For

the

twelve

months:

The

Russell

3000®

Index,

which

measures

the

performance

of

the

broad

U.S.

stock

market,

returned

-16.5%.

Please

see

for

benchmark

definitions.

The

MSCI

EAFE®

Index,

which

represents

stocks

in

developed-markets

nations

outside

North

America,

returned

-23.0%.

The

MSCI

Emerging

Markets

Index,

which

tracks

the

performance

of

stocks

in

developing

nations,

returned

-31.0%.

All

seven

TIAA-CREF

Equity

Index

Funds

(Institutional

Class)

posted

losses

for

the

period.

U.S.

economy

produced

mixed

results

Domestic

stocks

recorded

declines

for

the

twelve

months

as

concerns

over

inflation

and

rising

interest

rates

strained

financial

markets.

The

U.S.

economy

grew

at

a

strong

pace

in

the

fourth

quarter

of

2021,

but

it

contracted

over

the

following

two

quarters

before

expanding

again

in

the

third

quarter

of

2022. Unemployment

declined,

while

inflation

accelerated

over

the

twelve

months.

The

Fed

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022,

and

policymakers

indicated

that

ongoing

increases

would

be

appropriate.

For

the

twelve

months,

small-cap

stocks

trailed

large-

and

mid-sized

equities,

while

growth

shares

underperformed

value

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Foreign

developed

markets

lost

ground

Foreign

developed-markets

stocks

declined,

though

many

of

the

world's

larger

economies

continued

to

grow.

The

19-nation

euro

area

recorded

moderate

economic

expansion

throughout

the

period;

however,

rising

prices,

particularly

those

for

energy,

became

increasingly

worrisome.

The

European

Central

Bank

began

to

tighten

monetary

policy

with

three

increases

to

its

suite

of

benchmark

interest

rates.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

Emerging

markets

stocks

posted

losses

Of

the

countries

in

the

MSCI

Emerging

Markets

Index,

more

than

one-half

declined

in

U.S.-dollar

terms.

China,

which

accounted

for

more

than

26.0%

of

the

index

at

period-end,

registered

a

larger

loss

than

the

index,

primarily

due

to

government-imposed

restrictions.

Taiwan

and

South

Korea,

which

represented

more

than

25.0%

of

the

index

combined,

also

underperformed

the

benchmark.

All

index

funds

posted

declines

All

of

the

TIAA-CREF

Equity

Index

Funds

experienced

losses

for

the

twelve

months.

Each

fund

invests

in

a

portfolio

that

attempts

to

match

the

risk

and

return

characteristics

of

its

benchmark

index

at

a

low

cost

per

invested

dollar.

The

funds'

performance

includes

a

deduction

for

expenses,

while

the

returns

of

their

respective

indexes

do

not.

The

funds'

twelve-month

returns

ranged

from

–7.0%

for

the

Large-Cap

Value

Index

Fund

to

-31.0%

for

the

Emerging

Markets

Equity

Index

Fund.

(All

fund

returns

are

for

the

Institutional

Class.)

The

Large-Cap

Value

Index

Fund

performed

best

with

a

low

single-digit

loss,

while

its

growth

counterpart,

the

Large-Cap

Growth

Index

Fund,

returned

–24.7%.

The

Small-Cap

Blend

Index

Fund

posted

a

loss

of

–18.4%.

The

Equity

Index

Fund

returned

–16.5%

and

the

S&P

500

Index

Fund

returned

–14.6%.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Among

TIAA-CREF's

international

equity

index

portfolios,

the

International

Equity

Index

Fund

returned

–23.0%,

while

the

Emerging

Markets

Equity

Index

Fund

posted

a

sizable

double-digit

loss.

A

detailed

overview

of

the

financial

markets

during

the

twelve-month

period

appears

on

page

6,

and

a

discussion

of

how

each

fund

performed

in

relation

to

its

benchmark

begins

on

page

8. Navigating

markets

with

long-term

goals

in

mind

After

more

than

a

decade

of

above-average

returns

in

the

equity

markets,

a

down

year—such

as

the

one

we

are

witnessing—is

not

unusual.

Nevertheless,

it's

natural

for

investors

to

feel

concerned

when

their

portfolios

are

showing

negative

results.

As

such,

we

remind

our

investors

that,

historically,

markets

have

weathered

periods

of

volatility,

and

that

these

experiences

can

serve

to

reinforce

the

value

of

a

well-developed

investment

plan

designed

to

help

investors

achieve

their

financial

goals.

We

believe

a

diversified

portfolio

of

stocks,

bonds

and

other

assets,

managed

by

professionals,

can

play

an

important

role

in

that

strategy.

Of

course,

diversification

cannot

guarantee

against

market

losses,

and

past

performance

cannot

guarantee

future

results.

If

you

have

any

questions

or

would

like

to

talk

about

your

portfolio,

please

contact

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

We

would

be

happy

to

help

you.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

Market

monitor

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Stocks

fell

as

inflation

rose

For

the

twelve

months

ended

October

31,

2022,

U.S.

stocks

declined

as

persistent

inflation

and

rising

interest

rates

caused

concern

among

investors.

The

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.5%,

while

international

developed-

and

emerging-markets

equities

posted

larger

losses.

U.S.

economy

turned

in

mixed

performance

During

the

twelve

months,

the

U.S.

economy

experienced

periods

of

growth

and

contraction.

Strong

consumer

spending

and

solid

job

growth

gave

the

economy

a

boost,

while

increasing

inflation

and

rising

interest

rates

created

headwinds.

Real

gross

domestic

product

(GDP),

which

measures

the

value

of

all

goods

and

services

produced

in

the

United

States,

grew

at

an

annualized

rate

of

7.0%

during

the

fourth

quarter

of

2021. But

GDP

contracted

by

1.6%

in

the

first

quarter

of

2022

and

by

0.6%

in

the

second

quarter.

However,

GDP

expanded

by

2.6%

in

the

third

quarter

according

to

the

government's

"advance"

estimate.

The

unemployment

rate

declined

during

the

period,

dropping

from

4.2%

in

November

2021

to

3.7%

in

October

2022. The

jobless

rate

fell

to

a

low

of

3.5%

late

in

the

period,

a

level

not

seen

since

before

the

pandemic.

Core

inflation,

which

includes

all

items

except

food

and

energy,

increased

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

had

large

swings

but

ended

only

slightly

higher.

The

price

of

West

Texas

Intermediate

crude

oil

rose

from

$84

per

barrel

on

November

1,

2021,

to

less

than

$87

on

October

31,

2022. The

dollar

rose

against

most

major

currencies

during

the

period.

Small-cap

and

growth

stocks

experienced

the

largest

losses

Among

U.S.

equity

investment

styles,

small-cap

shares

underperformed

mid-

and

large-cap

stocks,

while

growth

equities

lagged

value

shares

in

all

size

categories.

Small-cap

stocks

returned

-18.5%,

while

mid-cap

stocks

returned

-17.2%

and

large-cap

equities

returned

-16.4%.

Among

small

caps,

growth

stocks

returned

-26.0%

and

value

shares

returned

-10.7%.

In

the

mid-cap

category,

growth

equities

returned

-28.9%,

while

value

stocks

returned

-10.2%.

Within

large

caps,

growth

equities

returned

-24.6%

and

value

stocks

returned

-7.0%.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

International

stocks

experienced

generally

larger

declines

for

the

period.

The

MSCI

Emerging

Markets

Index

returned

-31.0%,

while

the

MSCI

EAFE®

Index,

which

measures

stock

performance

in

developed-markets

countries

outside

North

America,

returned

-23.0%.

Rising

inflation

and

interest

rates

weighed

on

U.S.

stocks

For

the

twelve-month

period,

U.S.

equities

declined

amid

concerns

over

the

pace

of

inflation

and

rising

interest

rates.

The

Federal

Reserve

acted

forcefully

in

response

to

inflation

concerns,

increasing

the

federal

funds

target

rate

five

times

during

the

period.

The

key

short-term

interest-rate

measure

was

raised

to

3.00%–3.25%,

its

highest

level

since

2008. Policymakers

indicated

that

further

increases

were

likely

and

raised

the

benchmark

rate

again

a

few

days

after

the

period

ended.

Economies

around

the

world

grew

at

varying

rates

during

the

twelve

months.

The

19-nation

euro

area

expanded

for

four

consecutive

quarters,

but

higher

prices—particularly

those

for

energy—posed

an

increasing

challenge.

China's

economy

also

grew

at

a

moderate

rate

despite

aggressive

action

by

the

government

to

limit

exposure

to

variants.

Central

banks

moved

to

tighten

monetary

policies

in

response

to

accelerating

global

inflation.

The

European

Central

Bank

raised

its

benchmark

rates

by

a

total

of

2.00 percentage

points,

while

the

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

Global

equities

posted

declines

across

the

board

Performance

for

the

twelve

months

ended

October

31,

2022

Source:

U.S.

small-cap

growth:

Russell

2000®

Growth

Index;

U.S.

small-cap

value:

Russell

2000

Value

Index;

U.S.

mid-cap

growth:

Russell

Midcap®

Growth

Index;

U.S.

mid-cap

value:

Russell

Midcap

Value

Index;

U.S.

large-cap

growth:

Russell

1000®

Growth

Index;

U.S.

large-cap

value:

Russell

1000

Value

Index;

Emerging

markets:

MSCI

Emerging

Markets

Index;

Foreign

developed

markets:

MSCI

EAFE®

Index.

Twelve-month

returns

as

of

October

31,

2022. 7

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

About

the

funds'

benchmarks

Broad

market

indexes

The

Russell

3000®

Index

measures

the

performance

of

the

stocks

of

the

3,000

largest

publicly

traded

U.S.

companies,

based

on

market

capitalization.

The

index

measures

the

performance

of

about

98%

of

the

total

market

capitalization

of

the

publicly

traded

U.S.

equity

market.

The

MSCI

EAFE®

Index

measures

the

performance

of

the

leading

stocks

in

developed-markets

countries

outside

North

America—in

Europe,

Australasia

and

the

Far

East.

The

MSCI

Emerging

Markets

Index

measures

the

performance

of

the

leading

stocks

in

emerging-markets

countries

in

Europe,

Asia,

Africa,

Latin

America

and

the

Middle

East.

Large-cap

indexes

The

S&P

500®

Index

is

a

market-capitalization-weighted

index

of

the

stocks

of

500

leading

companies

in

major

industries

of

the

U.S.

economy.

The

Russell

1000®

Growth

Index

is

a

subset

of

the

Russell

1000

Index,

which

measures

the

performance

of

the

stocks

of

the

1,000

largest

companies

in

the

Russell

3000

Index,

based

on

market

capitalization.

The

Russell

1000

Growth

Index

measures

the

performance

of

those

stocks

of

the

Russell

1000

Index

with

higher

relative

forecasted

growth

rates

and

price/

book

ratios.

The

Russell

1000

Value

Index

is

a

subset

of

the

Russell

1000

Index,

which

measures

the

performance

of

the

stocks

of

the

1,000

largest

companies

in

the

Russell

3000

Index,

based

on

market

capitalization.

The

Russell

1000

Value

Index

measures

the

performance

of

those

stocks

of

the

Russell

1000

Index

with

lower

relative

forecasted

growth

rates

and

price/book

ratios.

Small-cap

index

The

Russell

2000®

Index

measures

the

performance

of

the

stocks

of

the

2,000

smallest

companies

in

the

Russell

3000

Index,

based

on

market

capitalization.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds'

latest

prospectus.

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

"LSE

Group").©

LSE

Group

2022. FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

"FTSE®,"

"Russell®"

and

"FTSE

Russell®"

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company's

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

MSCI

makes

no

express

or

implied

warranties

or

representations

and

shall

have

no

liability

whatsoever

with

respect

to

any

MSCI

data

contained

herein.

This

report

is

not

approved,

reviewed

or

produced

by

MSCI.

S&P

500

is

a

registered

trademark

and

service

mark

of

Standard

&

Poor's

Financial

Services,

LLC,

a

division

of

S&P

Global.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Equity

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Equity

Index

Fund returned

-16.50%

for

the

Institutional

Class,

compared

with

the

-16.52% return

of

its

benchmark,

the

Russell

3000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund's

return

slightly

outperformed

that

of

its

benchmark

index,

despite

the

effect

of

expenses.

The

Fund's

return

includes

a

deduction

for

expenses,

while

the

benchmark's

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Eight

of

the

eleven

industry

sectors

in

the

Russell

3000

Index

registered

losses

for

the

twelve

months.

Communication

services

and

consumer

discretionary

were

the

worst

performers,

returning

-40.9%

and

-29.5%,

respectively.

Information

technology—the

largest

sector,

representing

more

than

25.0%

of

the

benchmark's

total

market

capitalization

on

October

31,

2022—returned

-23.8%

and

detracted

most

from

the

index's

performance.

Together,

these

three

sectors

accounted

for

close

to

one-half

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. Energy

was

the

best

performer,

surging

62.5%,

followed

by

the

defensive

consumer

staples

and

utilities

sectors,

which

gained

4.0%

and

2.9%,

respectively.

Only

one

of

the

benchmark's

five

largest

stocks

outperformed

For

the

twelve-month

period,

only

one

of

the

five

largest

stocks

in

the

Russell

3000

Index

posted

a

return

that

surpassed

the

overall

return

of

the

index.

That

stock

was

Apple,

which

advanced

amid

resilient

demand

for

the

company's

products.

The

remaining

four

stocks

trailed

the

benchmark

by

a

significant

margin.

Amazon.com

generated

the

steepest

decline,

hurt

by

a

slowdown

in

its

core

retail

business.

Next

came

Tesla,

followed

by

Alphabet

(the

parent

company

of

Google)

and

Microsoft.

Large-Cap

Growth

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Large-Cap

Growth

Index

Fund returned

-24.65%

for

the

Institutional

Class,

compared

with

the

-24.60% return

of

its

benchmark,

the

Russell

1000®

Growth

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund's

return

underperformed

that

of

its

benchmark

index

due

to

the

effect

of

expenses.

The

Fund's

return

includes

a

deduction

for

expenses,

while

the

benchmark's

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Portfolio

managers'

comments

continued

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Eight

of

the

eleven

industry

sectors

in

the

Russell

1000

Growth

Index

registered

losses

for

the

twelve

months.

Communication

services

and

consumer

discretionary

were

the

worst

performers,

returning

-47.1%

and

-33.1%,

respectively.

Information

technology—the

largest

sector,

representing

more

than

45.0%

of

the

benchmark's

total

market

capitalization

on

October

31,

2022—returned

-23.8%

and

detracted

most

from

the

index's

performance.

Together,

these

three

sectors

accounted

for

almost

three-quarters

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. Energy

was

the

best

performer,

surging

61.6%,

followed

by

the

defensive

consumer

staples

and

utilities

sectors,

which

gained

2.8%

and

2.3%,

respectively.

Only

one

of

the

benchmark's

five

largest

stocks

outperformed

For

the

twelve-month

period,

only

one

of

the

five

largest

stocks

in

the

Russell

1000

Growth

Index

posted

a

return

that

surpassed

the

overall

return

of

the

index.

That

stock

was

Apple,

which

advanced

amid

resilient

demand

for

the

company's

products.

The

remaining

four

stocks

trailed

the

benchmark

by

a

significant

margin.

Amazon.com

generated

the

steepest

decline,

hurt

by

a

slowdown

in

its

core

retail

business.

Next

came

Tesla,

followed

by

Alphabet

(the

parent

company

of

Google)

and

Microsoft.

Large-Cap

Value

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Large-Cap

Value

Index

Fund returned

-6.99%

for

the

Institutional

Class,

compared

with

the

-7.00% return

of

its

benchmark,

the

Russell

1000®

Value

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund's

return

slightly

outperformed

that

of

its

benchmark

index,

despite

the

effect

of

expenses.

The

Fund's

return

includes

a

deduction

for

expenses,

while

the

benchmark's

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Most

benchmark

sectors

declined

Seven

of

the

eleven

industry

sectors

in

the

Russell

1000

Value

Index

posted

losses

for

the

twelve

months.

Communication

services,

which

returned

-30.3%,

was

the

worst

performer

and

largest

detractor

from

the

index's

performance.

Information

technology

and

real

estate

were

the

next-worst

performers,

returning

-22.7%

and

-20.8%,

respectively.

Financials—the

benchmark's

largest

sector—was

more

resilient

but

still

weak

with

a

-12.9%

return.

Together,

these

four

sectors

represented

almost

45.0%

of

the

index's

total

market

capitalization

on

October

31,

2022. Energy,

which

soared

64.9%

on

elevated

oil

prices,

was

the

best-performing

sector

and

largest

contributor

to

the

index's

return.

Consumer

staples

was

the

next-best

performer,

climbing

5.2%

as

investors

rewarded

stocks

with

stable

demand

characteristics.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

Four

of

the

benchmark's

five

largest

stocks

outperformed

For

the

twelve-month

period,

four

of

the

five

largest

stocks

in

the

Russell

1000

Value

Index

generated

returns

that

surpassed

the

overall

return

of

the

index.

Exxon

Mobil

and

Chevron

led

the

way,

posting

outsized

gains

on

the

back

of

strong

earnings

reports

from

both

companies.

While

substantially

lower,

returns

were

also

positive

for

Johnson

&

Johnson

and

Berkshire

Hathaway.

JPMorgan

Chase

trailed

the

index

due

to

several

factors,

including

a

slowdown

in

capital

markets

activity

and

an

increase

in

reserves

set

aside

for

potential

loan

losses.

S&P

500

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

S&P

500

Index

Fund returned

-14.62%

for

the

Institutional

Class,

compared

with

the

-14.61% return

of

its

benchmark,

the

S&P

500®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund's

return

slightly

underperformed

that

of

its

benchmark

index

due

to

the

effect

of

expenses.

The

Fund's

return

includes

a

deduction

for

expenses,

while

the

benchmark's

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

large-cap-oriented

S&P

500

Index

outperformed

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

which

returned

-16.52%.

A

portion

of

the

Russell

3000

Index

consists

of

small-cap

equities,

which

underperformed

large

caps

for

the

period.

Most

benchmark

sectors

declined

Seven

of

the

eleven

industry

sectors

in

the

S&P

500

Index

posted

losses

for

the

twelve

months.

Communication

services

returned

-40.6%

and

was

the

worst

performer,

hurt

by

broad

weakness

in

media

and

entertainment

stocks.

Next

came

consumer

discretionary

and

real

estate,

which

returned

-28.5%

and

-20.6%,

respectively,

followed

by

information

technology—the

largest

sector—which

returned

-20.3%.

Together,

these

four

sectors

represented

more

than

45.0%

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. Energy

was

the

best

performer,

gaining

an

impressive

65.0%.

The

defensive

consumer

staples,

utilities

and

health

care

sectors

also

advanced,

rising

4.9%,

2.9%

and

0.8%,

respectively.

Only

one

of

the

benchmark's

five

largest

stocks

outperformed

For

the

twelve-month

period,

only

one

of

the

five

largest

stocks

in

the

S&P

500

Index

generated

a

return

that

surpassed

the

overall

return

of

the

index.

That

stock

was

Apple,

which

posted

a

modest

gain

amid

resilient

demand

for

the

company's

products.

The

remaining

four

stocks

lagged

the

benchmark

by

a

sizeable

margin.

Amazon.com

registered

the

sharpest

decline,

hurt

by

a

slowdown

in

its

core

retail

business,

followed

by

Tesla,

which

was

pressured

by

several

factors,

including

supply-chain

disruptions

and

higher

input

costs.

Next

in

line

were

Alphabet

(the

parent

company

of

Google)

and

Microsoft.

Small-Cap

Blend

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Small-Cap

Blend

Index

Fund returned

-18.42%

for

the

Institutional

Class,

compared

with

the

-18.54% return

of

its

benchmark,

the

Russell

2000®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund's

return

outperformed

that

of

its

benchmark

index,

despite

the

effect

of

expenses.

The

Fund's

return

includes

a

deduction

for

expenses,

while

the

benchmark's

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

During

the

twelve

months,

the

Fund

participated

in

a

securities

lending

program.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Portfolio

managers'

comments

continued

U.S.

stocks

fell

amid

mixed

economic

performance

The

U.S.

economy

grew

at

a

robust

pace

early

in

the

fourth

quarter

of

2021,

but

then

contracted

for

two

consecutive

quarters

before

expanding

again

in

the

third

quarter

of

2022. Key

economic

drivers,

such

as

consumer

spending

and

job

growth,

remained

solid.

However,

inflation

concerns

and

rising

interest

rates

took

a

toll

on

economic

momentum.

The

unemployment

rate

declined

throughout

the

period,

falling

to

3.7%

in

October

2022. Core

inflation,

which

includes

all

items

except

food

and

energy,

rose

6.3%

for

the

twelve

months

ended

in

October.

Oil

prices

were

volatile

but

finished

the

period

only

modestly

higher.

Equity

markets

recorded

declines

across

all

size

and

style

categories

as

investors

responded

to

aggressive

monetary

policy

actions

aimed

at

taming

inflation.

The

Federal

Reserve

raised

the

federal

funds

target

rate

five

times

during

the

twelve-month

period

ended

October

2022. The

Fed

increased

the

key

short-term

interest-rate

measure

to

3.00%–3.25%,

its

highest

level

since

January

2008. For

the

twelve

months,

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market,

returned

-16.52%.

Large-

cap

stocks

outperformed

smaller

equities,

while

value

shares

outpaced

growth

stocks.

(Returns

by

investment

style

and

capitalization

size

are

based

on

the

Russell

indexes.)

Nearly

all

benchmark

sectors

declined

Nine

of

the

eleven

industry

sectors

in

the

Russell

2000

Index

posted

losses

for

the

twelve

months.

Communication

services

was

the

worst

performer

with

a

-39.2%

return,

followed

by

health

care—the

benchmark's

largest

sector—which

returned

-31.5%

and

detracted

most

from

the

index's

performance.

The

next-largest

detractors

were

information

technology

and

consumer

discretionary,

which

returned

-30.5%

and

-27.8%,

respectively.

Together,

these

four

sectors

accounted

for

almost

45.0%

of

the

index's

total

market

capitalization

on

October

31,

2022. Energy,

which

gained

44.8%,

was

the

best-performing

sector

and

top

contributor

to

the

benchmark's

return.

Utilities

was

the

other

positive

performer,

rising

3.7%.

All

of

the

benchmark's

five

largest

stocks

outperformed

For

the

twelve-month

period,

all

of

the

five

largest

stocks

in

the

Russell

2000

Index

posted

gains

and

surpassed

the

overall

return

of

the

benchmark.

Energy

companies

Murphy

Oil

and

Matador

Resources

performed

best,

climbing

sharply

higher

on

elevated

oil

prices.

Next

came

Shockwave

Medical,

which

received

approval

to

market

its

cardiovascular

disease

treatments

in

China,

and

equipment

maker

Chart

Industries,

which

reported

record

sales.

Industrial

company

RBC

Bearings

was

last

in

line

with

a

single-digit

gain.

Emerging

Markets

Equity

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Emerging

Markets

Equity

Index

Fund returned

-30.98%

for

the

Institutional

Class,

compared

with

the

-31.03% return

of

its

benchmark,

the

MSCI

Emerging

Markets

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund's

return

outperformed

that

of

its

benchmark

index,

despite

the

effect

of

expenses.

The

Fund's

return

includes

a

deduction

for

expenses,

while

the

benchmark's

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

Foreign

stocks

declined

despite

continued

growth

International

stocks

in

both

developed-

and

emerging-markets

countries

lost

ground

for

the

period

despite

continued

economic

growth

among

global

economies.

The

economy

in

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2021

and

in

each

of

the

following

three

quarters,

though

the

growth

rate

decelerated

in

the

third

quarter

of

2022. China's

economy

also

grew

during

the

twelve-month

period,

but

the

country

struggled

due

to

severe

restrictions

imposed

by

the

government.

Global

central

banks

began

to

aggressively

tighten

monetary

policy

in

response

to

rising

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

five

times

to

3.00%–3.25%

during

the

twelve-month

period

ended

October

2022. The

European

Central

Bank

raised

its

benchmark

rates

three

times

for

an

overall

increase

of

2.00 percentage

points.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

The

MSCI

EAFE®

Index,

which

measures

stock

performance

in

developed-markets

nations

outside

North

America,

returned

–23.00%

for

the

period,

outperforming

the

return

of

the

MSCI

Emerging

Markets

Index

but

trailing

the

-16.52%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

Countries

in

the

benchmark

had

mixed

returns

Of

the

country

components

in

the

MSCI

Emerging

Markets

Index,

slightly

more

than

one-half

declined

in

U.S.-dollar

terms

for

the

twelve-month

period.

Hungary

was

the

worst

performer

with

a

loss

of

–48.8%.

China,

the

largest

index

component,

returned

–47.9%.

Taiwan,

the

third-largest

index

component,

returned

–34.5%,

while

South

Korea,

the

fourth-largest,

returned

–34.3%.

Together,

these

four

countries

accounted

for

more

than

one-half

of

the

index's

total

market

capitalization

on

October

31,

2022. Turkey

performed

best

with

a

gain

of

28.1%.

Two

of

the

benchmark's

five

largest

stocks

outperformed

Two

of

the

five

largest

stocks

in

the

MSCI

Emerging

Markets

Index

had

performance

that

exceeded

the

benchmark's

overall

return.

Reliance

Industries

rose

modestly

in

local

currency

terms,

benefiting

from

a

rise

in

oil

prices,

but

the

stock

lost

ground

in

U.S.-dollar

terms

due

to

the

dollar's

strength.

Samsung

Electronics

declined

but

outpaced

the

index.

Internet

retailer

Alibaba

Group

Holding,

internet

firm

Tencent

Holdings

and

Taiwan

Semiconductor

Manufacturing

all

trailed

the

benchmark.

The

Fund's

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund's

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

Many

foreign

exchanges

close

for

trading

before

the

Fund's

net

asset

value

(NAV)

is

calculated

(see

the

Fund's

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund's

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund's

portfolio

holdings

at

the

time

the

Fund's

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

International

Equity

Index

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

International

Equity

Index

Fund returned

-23.00%

for

the

Institutional

Class,

compared

with

the

-23.00% return

of

its

benchmark,

the

MSCI

EAFE®

Index.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

For

the

twelve-month

period,

the

Fund's

return

matched

that

of

its

benchmark

index.

The

Fund's

return

includes

a

deduction

for

expenses,

while

the

benchmark's

does

not.

The

Fund

had

a

risk

profile

similar

to

that

of

its

benchmark.

Foreign

stocks

declined

despite

continued

growth

International

stocks

in

both

developed-

and

emerging-markets

countries

lost

ground

for

the

period

despite

continued

economic

growth

among

global

economies.

The

economy

in

the

19-nation

euro

area

expanded

in

the

fourth

quarter

of

2021

and

in

each

of

the

following

three

quarters,

though

the

growth

rate

decelerated

in

the

third

quarter

of

2022. China's

economy

also

grew

during

the

twelve-month

period,

but

the

country

struggled

due

to

severe

restrictions

imposed

by

the

government.

Global

central

banks

began

to

aggressively

tighten

monetary

policy

in

response

to

rising

inflation.

The

Federal

Reserve

increased

the

federal

funds

target

rate

five

times

to

3.00%–3.25%

during

the

twelve-month

period

ended

October

2022. The

European

Central

Bank

raised

its

benchmark

rates

three

times

for

an

overall

increase

of

2.00 percentage

points.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

The

MSCI

EAFE

Index,

which

measures

stock

performance

in

developed-markets

nations

outside

North

America,

outperformed

the

–31.03%

return

of

the

MSCI

Emerging

Markets

Index

for

the

period.

Both

indexes

trailed

the

–16.52%

return

of

the

Russell

3000®

Index,

a

broad

measure

of

the

U.S.

stock

market.

All

countries

in

the

benchmark

lost

ground

All

of

the

countries

in

the

MSCI

EAFE

Index

posted

double-digit

losses

in

U.S.-dollar

terms

for

the

twelve-month

period.

The

largest

index

components

were

Japan

(22.1%),

the

United

Kingdom

(15.6%)

and

France

(11.7%),

returning

–24.7%,

–12.4%

and

-20.4%,

respectively.

Collectively,

these

three

nations

represented

nearly

one-half

of

the

benchmark's

total

market

capitalization

on

October

31,

2022. The

Netherlands

was

the

worst

performer,

returning

–38.7%.

Three

of

the

benchmark's

five

largest

stocks

outperformed

Three

of

the

five

largest

stocks

in

the

MSCI

EAFE

Index

exceeded

the

benchmark's

overall

return.

Shell

performed

best

with

a

strong

double-digit

gain,

followed

by

global

drug

manufacturer

AstraZeneca,

which

also

advanced.

Swiss

pharmaceutical

manufacturer

Roche

Holding

declined

but

outpaced

the

index.

Nestle

only

slightly

trailed

the

index's

return,

while

Dutch

semiconductor

firm

ASML

Holding

posted

a

sizable

loss.

The

Fund's

returns

may

sometimes

diverge

from

the

returns

of

its

benchmark

more

than

would

be

expected.

This

divergence

may

be

the

result

of

the

Fund's

fair

value

pricing

adjustments

or

of

the

timing

of

foreign

currency

valuations.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Portfolio

managers'

comments

concluded

Many

foreign

exchanges

close

for

trading

before

the

Fund's

net

asset

value

(NAV)

is

calculated

(see

the

Fund's

current

prospectus

for

more

details

on

NAV

calculations).

In

the

intervening

hours,

the

values

of

foreign

securities

can

change,

and

these

changes

are

not

reflected

immediately

in

the

returns

of

the

Fund's

benchmark.

These

changes

are,

however,

taken

into

account

to

value

the

Fund's

portfolio

holdings

at

the

time

the

Fund's

NAV

is

calculated;

these

are

known

as

fair

value

pricing

adjustments.

Equity

Index

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$10,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Equity

Index

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

7/1/99

-16.50%

9.83%

12.43%

0.05%

0.05%

Advisor

Class

12/4/15

-16.59

9.70 12.35 †

0.17 0.17 Premier

Class

9/30/09

-16.62

9.66 12.26 0.20 0.20 Retirement

Class

3/31/06

-16.71

9.56 12.14 0.30 0.30 Retail

Class

3/31/06

-16.70

9.53 12.11 0.32 0.32 Class

W

9/28/18

-16.46

9.87 †

12.45 †

0.05 0.00 Russell

3000®

Index

–

-16.52

9.87 12.46 –

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Equity

Index

Fund

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

32.78 billion

Portfolio

turnover

rate

7%

Number

of

holdings

2,847

Weighted

median

market

capitalization

$116.00

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

21.9 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

25.0 Health

care

15.0 Financials

12.0 Consumer

discretionary

10.9 Industrials

9.4 Communication

services

6.8 Consumer

staples

6.3 Energy

5.4 Real

estate

3.2 Materials

2.8 Utilities

2.8 Short-term

investments,

other

assets

&

liabilities,

net

0.4 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

65.8 More

than

$15

billion-$50

billion

18.2 More

than

$2

billion-$15

billion

13.5 $2

billion

or

less

2.5 Total

100.0 Large-Cap

Growth

Index

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$10,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Large-Cap

Growth

Index

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.65

%

.52

%

.61

%

.05

%

.05

%

Advisor

Class

12/4/15

-

.73

.38

.52

†

.17

.17

Retirement

Class

10/1/02

-

.84

.24

.33

.30

.30

Class

W

9/30/19

-

.60

.56

†

.63

†

.05

.00

Russell

1000®

Growth

Index

–

-

.60

.59

.69

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Large-Cap

Growth

Index

Fund

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

8.91 billion

Portfolio

turnover

rate

34%

Number

of

holdings

514

Weighted

median

market

capitalization

$255.79

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

28.2 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

43.0 Consumer

discretionary

15.6 Health

care

12.6 Industrials

7.6 Communication

services

6.8 Consumer

staples

5.7 Financials

3.7 Energy

1.8 Real

estate

1.5 Materials

1.4 Utilities

0.1 Short-term

investments,

other

assets

&

liabilities,

net

0.2 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

79.1 More

than

$15

billion-$50

billion

14.7 More

than

$2

billion-$15

billion

6.2 Total

100.0 Large-Cap

Value

Index

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$10,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Large-Cap

Value

Index

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.99

%

.18

%

.24

%

.05

%

.05

%

Advisor

Class

12/4/15

-

.11

.02

.15

†

.19

.19

Retirement

Class

10/1/02

-

.25

.90

.96

.30

.30

Class

W

9/30/19

-

.98

.20

†

.25

†

.05

.00

Russell

1000®

Value

Index

–

-

.00

.21

.30

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Large-Cap

Value

Index

Fund

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

7.96 billion

Portfolio

turnover

rate

21%

Number

of

holdings

850

Weighted

median

market

capitalization

$77.41

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

17.1 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

20.7 Health

care

17.0 Industrials

10.3 Energy

8.8 Information

technology

8.7 Consumer

staples

7.2 Communication

services

7.2 Consumer

discretionary

6.0 Utilities

5.5 Real

estate

4.5 Materials

4.1 Short-term

investments,

other

assets

&

liabilities,

net

0.0 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

61.6 More

than

$15

billion-$50

billion

23.8 More

than

$2

billion-$15

billion

14.5 $2

billion

or

less

0.1 Total

100.0 S&P

500

Index

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$10,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

S&P

500

Index

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.62

%

.39

%

.72

%

.05

%

.05

%

Advisor

Class

12/4/15

-

.74

.24

.63

†

.18

.18

Retirement

Class

10/1/02

-

.83

.11

.44

.30

.30

Class

W

9/30/19

-

.59

.42

†

.73

†

.05

.00

S&P

500®

Index

–

-

.61

.44

.79

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

S&P

500

Index

Fund

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

6.85 billion

Portfolio

turnover

rate

5%

Number

of

holdings

507

Weighted

median

market

capitalization

$151.26

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

20.4 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Information

technology

26.1 Health

care

15.2 Financials

11.3 Consumer

discretionary

10.8 Industrials

8.1 Communication

services

7.3 Consumer

staples

6.9 Energy

5.3 Utilities

2.9 Real

estate

2.6 Materials

2.5 Short-term

investments,

other

assets

&

liabilities,

net

1.0 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

76.8 More

than

$15

billion-$50

billion

19.2 More

than

$2

billion-$15

billion

4.0 Total

100.0 Small-Cap

Blend

Index

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$10,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Small-Cap

Blend

Index

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.42

%

.67

%

.10

%

.05

%

.05

%

Advisor

Class

12/4/15

-

.53

.52

.01

†

.76

.21

Retirement

Class

10/1/02

-

.63

.42

.83

.30

.30

Russell

2000®

Index

–

-

.54

.56

.93

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class.

If

these

actual

expenses

had

been

reflected,

the

performance

of

the

Advisor

Class

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

has

different

expenses

than

the

Institutional

Class.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Small-Cap

Blend

Index

Fund

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

as

of

10/31/2022

Net

assets

$

3.30 billion

Portfolio

turnover

rate

25%

Number

of

holdings

1,958

Weighted

median

market

capitalization

$2.48

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

39.1 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

17.5 Health

care

16.7 Industrials

15.1 Information

technology

12.8 Consumer

discretionary

10.5 Energy

7.0 Real

estate

6.3 Materials

4.1 Consumer

staples

3.5 Utilities

3.3 Communication

services

2.6 Short-term

investments,

other

assets

&

liabilities,

net

0.6 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$2

billion-$15

billion

60.2 $2

billion

or

less

39.8 Total

100.0 Emerging

Markets

Equity

Index

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$10,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Emerging

Markets

Equity

Index

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

8/31/10

-

.98

%

-

.34

%

.62

%

.18

%

.18

%

Advisor

Class

12/4/15

-

.08

-

.46

.55

†

.32

.32

Premier

Class

8/31/10

-

.06

-

.48

.48

.33

.33

Retirement

Class

8/31/10

-

.12

-

.57

.38

.43

.43

Retail

Class

8/31/10

-

.19

-

.69

.26

.56

.56

Class

W

9/28/18

-

.81

-

.18

†

.71

†

.18

.00

MSCI

Emerging

Markets

Index

–

-

.03

-

.09

.79

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Emerging

Markets

Equity

Index

Fund

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2022

Net

assets

$

4.55 billion

Portfolio

turnover

rate

7%

Number

of

holdings

1,392

Weighted

median

market

capitalization

$25.06

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

10.3 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

23.3 Information

technology

18.5 Consumer

discretionary

12.3 Materials

8.9 Communication

services

8.6 Consumer

staples

6.6 Energy

5.8 Industrials

5.6 Health

care

3.9 Utilities

3.3 Real

estate

1.6 Short-term

investments,

other

assets

&

liabilities,

net

1.6 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

31.0 More

than

$15

billion-$50

billion

29.0 More

than

$2

billion-$15

billion

38.2 $2

billion

or

less

1.8 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

China

26.2 India

15.9 Taiwan

13.1 Korea,

Republic

of

11.7 Brazil

6.4 Saudi

Arabia

5.0 South

Africa

3.4 Mexico

2.6 Indonesia

2.3 Thailand

2.1 23

other

nations

9.4 Short-term

investments

1.9 Total

100.0 International

Equity

Index

Fund

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$10,000,000

over

years

Institutional

Class

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

International

Equity

Index

Fund

Inception

date

year

years

years

gross

net

Institutional

Class

10/1/02

-

.00

%

-

.03

%

.24

%

.05

%

.05

%

Advisor

Class

12/4/15

-

.10

-

.15

.16

†

.17

.17

Premier

Class

9/30/09

-

.10

-

.18

.08

.20

.20

Retirement

Class

10/1/02

-

.20

-

.28

.98

.30

.30

Class

W

9/28/18

-

.96

.01

†

.26

†

.05

.00

MSCI

EAFE®

Index

–

-

.00

-

.09

.13

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

International

Equity

Index

Fund

concluded

Fund

profile

Portfolio

composition

Holdings

by

company

size

Holdings

by

country

as

of

10/31/2022

Net

assets

$

16.73 billion

Portfolio

turnover

rate

5%

Number

of

holdings

812

Weighted

median

market

capitalization

$38.49

billon

Price/earnings

ratio

(weighted

12-month

trailing

average)

†

11.5 †

Price/earnings

ratio

is

the

price

of

a

stock

divided

by

its

earnings

per

share

for

the

past

twelve-month

period.

Sector

%

of

net

assets

as

of

10/31/2022

Financials

17.4 Industrials

14.9 Health

care

13.6 Consumer

discretionary

11.2 Consumer

staples

10.4 Information

technology

8.2 Materials

7.7 Energy

5.0 Communication

services

4.3 Utilities

3.7 Real

estate

1.8 Short-term

investments,

other

assets

&

liabilities,

net

1.8 Total

100.0 Market

capitalization

%

of

equity

investments

as

of

10/31/2022

More

than

$50

billion

40.8 More

than

$15

billion-$50

billion

36.4 More

than

$2

billion-$15

billion

22.8 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

Japan

21.7 United

Kingdom

11.8 France

10.7 Australia

8.0 Germany

7.7 United

States

6.8 Switzerland

5.9 Netherlands

5.4 Sweden

3.2 Denmark

2.7 21

other

nations

14.2 Short-term

investments

1.9 Total

100.0 Expense

examples

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

examples

that

appear

in

this

report

are

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

do

not

reflect

transactional

costs.

The

examples

are

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

funds

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

reinvested

dividends

or

other

distributions.

The

examples

are

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

six-month

period

and

held

for

the

entire

period

(May

1,

2022

–

October

31,

2022).

Actual

expenses

The

first

section

in

each

table

uses

the

Fund's

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

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

incurred

during

the

period"

to

estimate

the

expenses

you

paid

during

the

six-month

period.

Some

funds

have

a

contractual

fee

reimbursement.

Had

these

not

been

in

effect,

fund

expenses

would

have

been

higher.

Hypothetical

example

for

comparison

purposes

The

second

section

in

each

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund's

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class'

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

Fund

with

the

costs

of

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

other

mutual

funds.

4.1 Equity

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$946.08

$945.41

$945.28

$944.89

$944.76

$946.10

Expenses

incurred

during

the

period\*

$0.23

$0.72

$0.97

$1.46

$1.61

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.97

$1,024.46

$1,024.21

$1,023.71

$1,023.55

$1,025.20

Expenses

incurred

during

the

period\*

$0.24

$0.75

$1.01

$1.52

$1.68

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.15%

for

Advisor

Class,

0.20%

for

Premier

Class,

0.30%

for

Retirement

Class,

0.33%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Expense

examples

continued

4.2 Large-Cap

Growth

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$917.21

$916.85

$916.11

$917.55

Expenses

incurred

during

the

period\*

$0.24

$0.79

$1.44

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.96

$1,024.38

$1,023.70

$1,025.20

Expenses

incurred

during

the

period\*

$0.25

$0.83

$1.52

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.16%

for

Advisor

Class,

0.30%

for

Retirement

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.3 Large-Cap

Value

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$968.29

$967.38

$967.16

$968.29

Expenses

incurred

during

the

period\*

$0.25

$0.95

$1.48

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.96

$1,024.24

$1,023.70

$1,025.19

Expenses

incurred

during

the

period\*

$0.25

$0.98

$1.53

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.19%

for

Advisor

Class,

0.30%

for

Retirement

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.4 S&P

500

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$944.90

$944.35

$943.80

$945.12

Expenses

incurred

during

the

period\*

$0.24

$0.88

$1.46

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.96

$1,024.30

$1,023.70

$1,025.20

Expenses

incurred

during

the

period\*

$0.25

$0.91

$1.52

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.18%

for

Advisor

Class,

0.30%

for

Retirement

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

examples

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

concluded

4.5 Small-Cap

Blend

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Retirement

Class

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$998.60

$998.12

$997.67

Expenses

incurred

during

the

period\*

$0.31

$1.06

$1.57

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.90

$1,024.14

$1,023.63

Expenses

incurred

during

the

period\*

$0.31

$1.08

$1.59

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-

month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.06%

for

Institutional

Class,

0.21%

for

Advisor

Class

and

0.31%

for

Retirement

Class.

The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.6 Emerging

Markets

Equity

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$811.48

$811.08

$810.96

$810.61

$810.79

$812.73

Expenses

incurred

during

the

period\*

$0.82

$1.59

$1.50

$1.96

$2.22

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.31

$1,023.45

$1,023.55

$1,023.05

$1,022.75

$1,025.20

Expenses

incurred

during

the

period\*

$0.91

$1.78

$1.68

$2.18

$2.48

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.18%

for

Institutional

Class,

0.35%

for

Advisor

Class,

0.33%

for

Premier

Class,

0.43%

for

Retirement

Class,

0.49%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

4.7 International

Equity

Index

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$881.76

$881.08

$881.02

$880.63

$881.82

Expenses

incurred

during

the

period\*

$0.26

$0.81

$0.97

$1.44

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,024.93

$1,024.34

$1,024.17

$1,023.67

$1,025.20

Expenses

incurred

during

the

period\*

$0.28

$0.88

$1.05

$1.55

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.05%

for

Institutional

Class,

0.17%

for

Advisor

Class,

0.20%

for

Premier

Class,

0.30%

for

Retirement

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.6%

AUTOMOBILES

&

COMPONENTS

-

.1

%

73,044

\*

Adient

plc

$

2,555,079

85,722

\*

American

Axle

&

Manufacturing

Holdings,

Inc

830,646

227,692

\*

Aptiv

plc

20,735,910

187,250

BorgWarner,

Inc

7,027,493

194,066

\*,e

Canoo,

Inc

265,870

150,754

\*,e

Cenntro

Electric

Group

Ltd

153,769

111,367

Dana

Inc

1,777,417

20,723

\*

Dorman

Products,

Inc

1,691,411

119,971

\*,e

Fisker,

Inc

977,764

3,366,514

Ford

Motor

Co

45,010,292

32,192

\*

Fox

Factory

Holding

Corp

2,828,067

1,241,517

General

Motors

Co

48,729,542

189,791

Gentex

Corp

5,027,564

26,007

\*

Gentherm,

Inc

1,519,329

296,266

\*

Goodyear

Tire

&

Rubber

Co

3,762,578

108,072

Harley-Davidson,

Inc

4,647,096

41,093

\*,e

Holley,

Inc

163,550

18,753

LCI

Industries,

Inc

1,989,881

45,981

Lear

Corp

6,378,025

298,149

\*,e

Lordstown

Motors

Corp

539,650

428,068

\*,e

Lucid

Group,

Inc

6,117,092

315,849

\*,e

Luminar

Technologies,

Inc

2,555,218

37,350

\*

Modine

Manufacturing

Co

669,312

12,250

\*

Motorcar

Parts

of

America,

Inc

232,750

197,369

\*,e

Mullen

Automotive,

Inc

94,027

17,563

Patrick

Industries,

Inc

802,805

187,621

\*,e

QuantumScape

Corp

1,562,883

457,865

\*,e

Rivian

Automotive,

Inc

16,011,539

46,512

\*

Solid

Power,

Inc

260,932

16,474

Standard

Motor

Products,

Inc

624,859

20,436

\*

Stoneridge,

Inc

426,499

52,766

\*

Tenneco,

Inc

1,039,490

2,163,942

\*

Tesla,

Inc

492,383,363

42,695

Thor

Industries,

Inc

3,478,362

22,062

\*

Visteon

Corp

2,878,429

24,358

Winnebago

Industries,

Inc

1,453,929

183,399

\*,e

Workhorse

Group,

Inc

495,177

28,689

\*

XPEL,

Inc

1,984,992

TOTAL

AUTOMOBILES

&

COMPONENTS

689,682,591

BANKS

-

.3

%

19,264

1st

Source

Corp

1,120,394

15,222

Amalgamated

Financial

Corp

349,954

26,709

Amerant

Bancorp

Inc

803,941

4,767

American

National

Bankshares,

Inc

174,329

50,096

Ameris

Bancorp

2,580,445

7,416

Arrow

Financial

Corp

258,225

161,860

Associated

Banc-Corp

3,941,291

60,073

Atlantic

Union

Bankshares

Corp

2,074,921

46,076

\*

Axos

Financial,

Inc

1,795,121

52,464

Banc

of

California,

Inc

875,100

25,552

Bancfirst

Corp

2,448,393

8,255

e

Bank

First

Corp

711,168

5,976,993

Bank

of

America

Corp

215,410,828

35,591

Bank

of

Hawaii

Corp

2,703,136

6,797

Bank

of

Marin

Bancorp

245,372

41,122

Bank

of

NT

Butterfield

&

Son

Ltd

1,420,354

93,778

Bank

OZK

4,030,578

64,540

BankUnited

2,320,213

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

27,864

Banner

Corp

$

2,082,834

13,280

Bar

Harbor

Bankshares

398,533

16,845

BCB

Bancorp,

Inc

331,004

45,048

Berkshire

Hills

Bancorp,

Inc

1,317,654

13,256

Blue

Ridge

Bankshares,

Inc

172,991

25,187

BOK

Financial

Corp

2,775,356

16,126

\*

Bridgewater

Bancshares,

Inc

308,329

61,942

Brookline

Bancorp,

Inc

851,702

20,231

Business

First

Bancshares,

Inc

501,324

26,674

Byline

Bancorp,

Inc

616,703

147,992

Cadence

BanCorp

4,091,979

5,146

Cambridge

Bancorp

452,076

11,481

Camden

National

Corp

499,653

Capital

Bancorp,

Inc

4,862

4,674

Capital

City

Bank

Group,

Inc

165,553

109,579

Capitol

Federal

Financial

896,356

21,751

Capstar

Financial

Holdings,

Inc

384,558

16,499

\*

Carter

Bankshares,

Inc

295,332

61,319

Cathay

General

Bancorp

2,796,146

16,564

Central

Pacific

Financial

Corp

339,893

1,629,600

Citigroup,

Inc

74,733,456

5,365

Citizens

&

Northern

Corp

127,580

393,359

Citizens

Financial

Group,

Inc

16,088,383

13,730

City

Holding

Co

1,384,670

5,944

Civista

Bancshares,

Inc

140,873

8,140

CNB

Financial

Corp

206,919

15,203

\*

Coastal

Financial

Corp

708,764

59,238

Columbia

Banking

System,

Inc

1,982,696

28,774

\*

Columbia

Financial,

Inc

591,018

103,353

Comerica,

Inc

7,286,386

95,168

Commerce

Bancshares,

Inc

6,741,701

46,320

Community

Bank

System,

Inc

2,891,758

14,544

Community

Trust

Bancorp,

Inc

687,786

34,091

ConnectOne

Bancorp,

Inc

853,980

33,310

\*,e

CrossFirst

Bankshares,

Inc

463,342

48,386

Cullen/Frost

Bankers,

Inc

7,502,249

22,797

\*

Customers

Bancorp,

Inc

768,031

144,179

CVB

Financial

Corp

4,140,821

29,954

Dime

Community

Bancshares,

Inc

1,034,312

27,023

Eagle

Bancorp,

Inc

1,223,601

130,541

East

West

Bancorp,

Inc

9,342,819

138,123

Eastern

Bankshares,

Inc

2,647,818

34,703

Enact

Holdings,

Inc

889,785

5,411

Enterprise

Bancorp,

Inc

169,256

29,950

Enterprise

Financial

Services

Corp

1,601,426

11,532

Equity

Bancshares,

Inc

411,923

8,798

Esquire

Financial

Holdings,

Inc

397,494

91,723

Essent

Group

Ltd

3,630,396

9,707

e

Farmers

&

Merchants

Bancorp,

Inc

284,027

12,212

Farmers

National

Banc

Corp

167,793

35,572

FB

Financial

Corp

1,492,601

8,455

Federal

Agricultural

Mortgage

Corp

(FAMC)

974,016

574,825

Fifth

Third

Bancorp

20,515,504

191,298

\*,e

Finance

Of

America

Cos,

Inc

307,990

9,067

Financial

Institutions,

Inc

216,067

25,537

First

Bancorp

1,138,184

163,833

First

Bancorp

2,586,923

7,861

First

Bancorp,

Inc

240,232

15,263

First

Bancshares,

Inc

499,711

607

First

Bank

9,542

39,833

First

Busey

Corp

1,051,990

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

9,091

First

Business

Financial

Services,

Inc

$

346,822

10,170

First

Citizens

Bancshares,

Inc

(Class

A)

8,360,960

70,866

First

Commonwealth

Financial

Corp

1,016,218

14,507

First

Community

Bancshares,

Inc

540,241

76,443

First

Financial

Bancorp

1,992,869

115,831

First

Financial

Bankshares,

Inc

4,458,335

4,468

First

Financial

Corp

216,653

29,791

First

Foundation,

Inc

475,464

11,724

e

First

Guaranty

Bancshares,

Inc

270,473

140,002

First

Hawaiian,

Inc

3,581,251

438,755

First

Horizon

National

Corp

10,753,885

11,154

First

Internet

Bancorp

286,546

74,550

First

Interstate

Bancsystem,

Inc

3,400,225

48,621

First

Merchants

Corp

2,183,083

12,500

First

Mid-Illinois

Bancshares,

Inc

447,625

12,953

First

of

Long

Island

Corp

227,714

157,032

First

Republic

Bank

18,859,543

10,253

\*

First

Western

Financial,

Inc

283,085

15,793

e

Five

Star

Bancorp

458,155

42,221

Flagstar

Bancorp,

Inc

1,633,953

13,945

Flushing

Financial

Corp

274,716

336,180

e

FNB

Corp

4,857,801

129,937

Fulton

Financial

Corp

2,368,752

16,035

\*,e

FVCBankcorp,

Inc

325,831

20,011

German

American

Bancorp,

Inc

786,232

104,952

Glacier

Bancorp,

Inc

6,011,651

7,373

Great

Southern

Bancorp,

Inc

456,979

6,186

e

Greene

County

Bancorp,

Inc

411,988

5,229

Guaranty

Bancshares,

Inc

193,630

72,550

Hancock

Whitney

Corp

4,053,368

30,069

Hanmi

Financial

Corp

805,248

40,940

HarborOne

Northeast

Bancorp,

Inc

623,516

7,463

HBT

Financial,

Inc

152,171

35,713

Heartland

Financial

USA,

Inc

1,761,365

57,544

Heritage

Commerce

Corp

822,879

29,249

Heritage

Financial

Corp

985,399

48,488

Hilltop

Holdings,

Inc

1,403,728

1,749

Hingham

Institution

for

Savings

432,440

2,987

Home

Bancorp,

Inc

127,694

189,289

Home

Bancshares,

Inc

4,824,977

15,661

HomeStreet,

Inc

406,560

8,504

HomeTrust

Bancshares,

Inc

204,351

102,627

Hope

Bancorp,

Inc

1,392,648

39,049

Horizon

Bancorp

582,221

1,156,006

Huntington

Bancshares,

Inc

17,548,171

42,450

Independent

Bank

Corp

3,693,574

16,543

Independent

Bank

Corp

382,640

28,509

Independent

Bank

Group,

Inc

1,798,633

44,385

International

Bancshares

Corp

2,201,496

11,079

e

John

Marshall

Bancorp,

Inc

319,075

2,480,042

JPMorgan

Chase

&

Co

312,187,687

64,314

Kearny

Financial

Corp

652,144

749,627

Keycorp

13,395,834

56,398

Lakeland

Bancorp,

Inc

1,051,823

20,428

Lakeland

Financial

Corp

1,688,374

23,838

Live

Oak

Bancshares,

Inc

774,020

650

Luther

Burbank

Corp

8,209

149,665

M&T

Bank

Corp

25,199,096

13,130

Macatawa

Bank

Corp

140,885

9,212

Mercantile

Bank

Corp

321,959

14,385

Merchants

Bancorp

344,521

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

23,658

Meta

Financial

Group,

Inc

$

994,346

29,419

Metrocity

Bankshares,

Inc

654,573

7,388

\*

Metropolitan

Bank

Holding

Corp

487,608

252,629

MGIC

Investment

Corp

3,448,386

11,416

Mid

Penn

Bancorp,

Inc

390,199

23,372

Midland

States

Bancorp,

Inc

655,351

6,127

MidWestOne

Financial

Group,

Inc

205,867

55,761

\*

Mr

Cooper

Group,

Inc

2,202,002

7,598

MVB

Financial

Corp

188,126

22,010

National

Bank

Holdings

Corp

964,478

35,972

NBT

Bancorp,

Inc

1,704,713

421,976

e

New

York

Community

Bancorp,

Inc

3,928,597

9,277

\*

Nicolet

Bankshares,

Inc

707,742

62,520

\*

NMI

Holdings,

Inc

1,371,064

46,460

Northfield

Bancorp,

Inc

745,218

104,851

Northwest

Bancshares,

Inc

1,579,056

53,843

OceanFirst

Financial

Corp

1,215,775

39,594

OFG

Bancorp

1,103,881

241,962

Old

National

Bancorp

4,732,777

15,788

Old

Second

Bancorp,

Inc

252,608

21,000

Origin

Bancorp,

Inc

867,930

3,740

Orrstown

Financial

Services,

Inc

98,998

92,085

Pacific

Premier

Bancorp,

Inc

3,352,815

89,618

PacWest

Bancorp

2,227,903

11,966

Park

National

Corp

1,764,985

13,292

Parke

Bancorp,

Inc

286,576

10,634

PCSB

Financial

Corp

207,257

10,600

Peapack

Gladstone

Financial

Corp

419,442

25,625

PennyMac

Financial

Services,

Inc

1,366,325

23,909

Peoples

Bancorp,

Inc

723,725

8,413

Peoples

Financial

Services

Corp

462,631

58,710

Pinnacle

Financial

Partners,

Inc

4,872,343

\*

Pioneer

Bancorp,

Inc

4,103

356,021

PNC

Financial

Services

Group,

Inc

57,614,878

61,128

Popular,

Inc

4,322,972

12,596

Preferred

Bank

968,255

29,544

Premier

Financial

Corp

852,344

5,879

Primis

Financial

Corp

75,780

85,183

Prosperity

Bancshares,

Inc

6,096,547

5,101

Provident

Bancorp

Inc

63,048

106,697

Provident

Financial

Services,

Inc

2,392,147

14,544

QCR

Holdings,

Inc

737,526

137,907

Radian

Group,

Inc

2,878,119

23,011

RBB

Bancorp

517,978

4,675

Red

River

Bancshares

Inc

266,101

747,169

Regions

Financial

Corp

16,400,360

44,579

Renasant

Corp

1,799,654

4,277

Republic

Bancorp,

Inc

(Class

A)

198,239

30,260

\*

Republic

First

Bancorp,

Inc

85,636

102,918

e

Rocket

Cos,

Inc

710,134

34,231

S&T

Bancorp,

Inc

1,294,274

35,885

Sandy

Spring

Bancorp,

Inc

1,271,764

40,441

Seacoast

Banking

Corp

of

Florida

1,249,627

43,049

ServisFirst

Bancshares,

Inc

3,242,881

15,425

Shore

Bancshares,

Inc

307,574

5,427

Sierra

Bancorp

119,665

54,637

Signature

Bank

8,661,604

27,691

\*

Silvergate

Capital

Corp

1,571,741

101,705

Simmons

First

National

Corp

(Class

A)

2,427,698

16,613

SmartFinancial,

Inc

485,764

South

Plains

Financial

Inc

11,445

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

72,091

South

State

Corp

$

6,519,189

2,839

\*

Southern

First

Bancshares,

Inc

126,847

5,867

Southern

Missouri

Bancorp,

Inc

300,684

25,174

Southside

Bancshares,

Inc

861,958

39,498

Stellar

Bancorp,

Inc

1,297,114

21,811

Stock

Yards

Bancorp,

Inc

1,705,402

6,059

Summit

Financial

Group,

Inc

176,135

49,149

\*

SVB

Financial

Group

11,351,453

114,400

Synovus

Financial

Corp

4,558,840

40,076

\*

Texas

Capital

Bancshares,

Inc

2,404,560

41,223

TFS

Financial

Corp

579,183

38,659

\*

The

Bancorp,

Inc

1,066,215

11,508

Tompkins

Financial

Corp

953,323

58,073

Towne

Bank

1,912,925

25,146

Trico

Bancshares

1,456,205

18,271

\*

Triumph

Bancorp,

Inc

940,956

1,126,243

Truist

Financial

Corp

50,444,424

20,180

TrustCo

Bank

Corp

NY

753,118

47,111

Trustmark

Corp

1,722,849

40,148

UMB

Financial

Corp

3,341,117

191,110

Umpqua

Holdings

Corp

3,799,267

106,114

United

Bankshares,

Inc

4,493,928

80,778

United

Community

Banks,

Inc

3,109,953

22,856

Univest

Financial

Corp

643,168

1,133,317

US

Bancorp

48,109,307

75,868

e

UWM

Holdings

Corp

248,847

428,136

Valley

National

Bancorp

5,081,974

35,703

Veritex

Holdings,

Inc

1,127,501

34,749

Walker

&

Dunlop,

Inc

3,126,020

54,015

Washington

Federal,

Inc

2,090,381

16,423

Washington

Trust

Bancorp,

Inc

796,516

20,122

Waterstone

Financial,

Inc

341,672

139,403

Webster

Financial

Corp

7,564,007

3,227,075

Wells

Fargo

&

Co

148,413,179

53,314

WesBanco,

Inc

2,156,018

8,649

West

Bancorporation,

Inc

194,343

21,091

Westamerica

Bancorporation

1,323,038

99,588

Western

Alliance

Bancorp

6,689,326

47,645

Wintrust

Financial

Corp

4,460,525

48,660

WSFS

Financial

Corp

2,265,610

122,076

Zions

Bancorporation

6,340,627

TOTAL

BANKS

1,422,106,669

CAPITAL

GOODS

-

.4

%

479,528

3M

Co

60,319,827

119,824

A.O.

Smith

Corp

6,563,959

52,091

Aaon,

Inc

3,359,349

24,480

\*

AAR

Corp

1,084,954

27,479

Acuity

Brands,

Inc

5,044,320

57,047

Advanced

Drainage

Systems,

Inc

6,610,606

108,026

Aecom

Technology

Corp

8,132,197

63,106

\*

Aerojet

Rocketdyne

Holdings,

Inc

3,057,486

22,936

\*

Aerovironment,

Inc

2,098,644

28,197

\*

AerSale

Corp

597,776

48,114

AGCO

Corp

5,974,315

83,044

Air

Lease

Corp

2,930,623

7,671

Alamo

Group,

Inc

1,166,606

35,627

Albany

International

Corp

(Class

A)

3,264,146

70,689

Allegion

plc

7,406,087

6,418

Allied

Motion

Technologies,

Inc

217,057

77,480

Allison

Transmission

Holdings,

Inc

3,273,530

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

13,325

Alta

Equipment

Group,

Inc

$

162,965

49,939

Altra

Industrial

Motion

Corp

3,003,331

36,782

\*

Ameresco,

Inc

2,224,575

13,260

\*

American

Woodmark

Corp

601,341

194,036

Ametek,

Inc

25,158,708

175,284

\*

API

Group

Corp

2,890,433

18,861

Apogee

Enterprises,

Inc

865,343

31,823

Applied

Industrial

Technologies,

Inc

3,958,145

99,588

\*,e

Archer

Aviation,

Inc

283,826

53,235

Arcosa,

Inc

3,417,687

11,927

Argan,

Inc

413,509

36,407

Armstrong

World

Industries,

Inc

2,751,277

120,554

\*

Array

Technologies,

Inc

2,182,027

18,121

Astec

Industries,

Inc

790,982

185,186

\*,e

Astra

Space,

Inc

116,741

18,079

\*

Astronics

Corp

167,412

35,759

\*

Atkore

International

Group,

Inc

3,407,833

62,164

\*

Axon

Enterprise,

Inc

9,041,132

86,875

\*

AZEK

Co,

Inc

1,521,181

18,636

AZZ,

Inc

749,167

42,265

\*

Babcock

&

Wilcox

Enterprises,

Inc

192,728

38,782

Barnes

Group,

Inc

1,371,719

47,218

\*

Beacon

Roofing

Supply,

Inc

2,660,734

170,455

\*,e

Berkshire

Grey,

Inc

228,410

29,480

\*,e

Blink

Charging

Co

436,304

142,113

\*

Bloom

Energy

Corp

2,658,934

11,902

\*

Blue

Bird

Corp

109,141

11,443

\*

BlueLinx

Holdings,

Inc

806,274

466,894

\*

Boeing

Co

66,537,064

34,874

Boise

Cascade

Co

2,328,537

20,563

Brookfield

Business

Corp

526,824

138,501

\*

Builders

FirstSource,

Inc

8,539,972

90,784

BWX

Technologies,

Inc

5,172,872

9,104

Cadre

Holdings,

Inc

267,384

13,838

e

Caesarstone

Sdot-Yam

Ltd

122,881

42,478

Carlisle

Cos,

Inc

10,143,746

703,747

Carrier

Global

Corp

27,980,981

450,504

Caterpillar,

Inc

97,516,096

241,193

\*,e

ChargePoint

Holdings,

Inc

3,371,878

29,395

\*

Chart

Industries,

Inc

6,551,558

21,040

\*

CIRCOR

International,

Inc

434,897

20,834

Columbus

McKinnon

Corp

594,186

29,839

Comfort

Systems

USA,

Inc

3,678,552

917

\*

Concrete

Pumping

Holdings

Inc

5,873

29,596

\*

Construction

Partners

Inc

921,619

56,775

\*,e

Core

&

Main,

Inc

1,338,754

49,545

Crane

Holdings

Co

4,971,345

12,276

CSW

Industrials,

Inc

1,582,622

121,648

Cummins,

Inc

29,744,152

34,560

Curtiss-Wright

Corp

5,800,205

57,706

\*,e

Custom

Truck

One

Source,

Inc

399,903

82,645

\*,e

Decarbonization

Plus

Acquisition

Corp

157,852

238,514

Deere

&

Co

94,408,611

322,322

\*,e

Desktop

Metal,

Inc

815,475

108,154

Donaldson

Co,

Inc

6,213,447

17,667

Douglas

Dynamics,

Inc

599,795

120,680

Dover

Corp

15,771,669

7,712

\*

Ducommun,

Inc

364,084

13,025

\*

DXP

Enterprises,

Inc

372,645

22,700

\*

Dycom

Industries,

Inc

2,682,686

339,370

Eaton

Corp

50,929,256

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

40,967

EMCOR

Group,

Inc

$

5,780,444

506,170

Emerson

Electric

Co

43,834,322

16,665

Encore

Wire

Corp

2,292,937

47,978

\*

Energy

Recovery,

Inc

1,234,474

98,206

\*,e

Energy

Vault

Holdings,

Inc

316,223

57,294

Enerpac

Tool

Group

Corp

1,455,841

34,599

EnerSys

2,293,568

87,496

\*,e

Enovix

Corp

1,651,050

16,945

EnPro

Industries,

Inc

1,804,642

35,865

Esab

Corp

1,337,764

19,986

ESCO

Technologies,

Inc

1,722,194

83,566

\*,e

ESS

Tech,

Inc

353,484

91,845

\*

Evoqua

Water

Technologies

Corp

3,598,487

482,190

Fastenal

Co

23,304,243

47,719

Federal

Signal

Corp

2,226,091

101,738

Flowserve

Corp

2,917,846

25,385

\*,e

Fluence

Energy,

Inc

378,998

147,778

\*

Fluor

Corp

4,471,762

306,131

Fortive

Corp

19,561,771

107,925

Fortune

Brands

Home

&

Security,

Inc

6,510,036

38,542

Franklin

Electric

Co,

Inc

3,158,131

61,150

\*,e

FTC

Solar,

Inc

126,580

358,973

\*,e

FuelCell

Energy,

Inc

1,119,996

72,324

\*

Gates

Industrial

Corp

plc

806,413

27,685

GATX

Corp

2,898,896

50,100

\*

Generac

Holdings,

Inc

5,807,091

208,784

General

Dynamics

Corp

52,154,243

938,787

General

Electric

Co

73,047,016

27,344

\*

Gibraltar

Industries,

Inc

1,396,732

11,337

Global

Industrial

Co

359,836

39,078

\*

GMS,

Inc

1,844,482

19,536

Gorman-Rupp

Co

530,207

152,702

Graco,

Inc

10,625,005

154,211

GrafTech

International

Ltd

784,934

40,702

Granite

Construction,

Inc

1,372,878

63,016

\*

Great

Lakes

Dredge

&

Dock

Corp

476,401

25,927

Greenbrier

Cos,

Inc

915,482

42,215

Griffon

Corp

1,356,790

22,964

H&E

Equipment

Services,

Inc

867,121

56,695

\*,e

Hayward

Holdings,

Inc

524,429

36,873

HEICO

Corp

5,997,025

64,443

HEICO

Corp

(Class

A)

8,203,594

441,054

\*,e

Heliogen,

Inc

793,897

24,756

Helios

Technologies,

Inc

1,403,418

19,232

Herc

Holdings,

Inc

2,261,876

81,651

Hexcel

Corp

4,547,961

55,966

Hillenbrand,

Inc

2,472,578

106,925

\*

Hillman

Solutions

Corp

835,084

574,257

Honeywell

International,

Inc

117,159,913

303,383

Howmet

Aerospace,

Inc

10,785,266

47,823

Hubbell,

Inc

11,357,006

34,578

\*

Hudson

Technologies,

Inc

318,463

32,215

Huntington

Ingalls

8,281,510

39,661

\*

Hydrofarm

Holdings

Group,

Inc

102,325

88,714

\*,e

Hyliion

Holdings

Corp

252,835

7,398

Hyster-Yale

Materials

Handling,

Inc

215,726

63,942

IDEX

Corp

14,214,946

9,052

\*

IES

Holdings,

Inc

299,078

263,327

Illinois

Tool

Works,

Inc

56,228,214

347,429

Ingersoll

Rand,

Inc

17,545,164

16,162

Insteel

Industries,

Inc

425,869

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

68,836

ITT,

Inc

$

5,258,382

65,108

\*

Janus

International

Group,

Inc

626,990

169,585

\*

JELD-WEN

Holding,

Inc

1,799,297

31,877

John

Bean

Technologies

Corp

2,907,182

580,595

Johnson

Controls

International

plc

33,581,615

9,592

Kadant,

Inc

1,706,896

23,713

Kaman

Corp

761,187

65,544

Kennametal,

Inc

1,750,680

92,618

\*

Kratos

Defense

&

Security

Solutions,

Inc

1,026,207

159,062

L3Harris

Technologies,

Inc

39,204,011

2,093

\*

Lawson

Products,

Inc

62,957

26,217

Lennox

International,

Inc

6,123,505

94,044

\*,e

Lightning

eMotors,

Inc

144,828

49,125

Lincoln

Electric

Holdings,

Inc

6,975,750

8,690

Lindsay

Corp

1,471,217

199,798

Lockheed

Martin

Corp

97,237,691

31,560

Luxfer

Holdings

plc

456,673

26,764

\*

Manitowoc

Co,

Inc

244,088

189,513

Masco

Corp

8,768,767

17,983

\*

Masonite

International

Corp

1,286,324

49,503

\*

Mastec,

Inc

3,815,714

61,987

Maxar

Technologies,

Inc

1,384,790

22,508

McGrath

RentCorp

2,116,877

171,686

MDU

Resources

Group,

Inc

4,889,617

57,974

\*

Mercury

Systems,

Inc

2,805,942

136,621

\*,e

Microvast

Holdings,

Inc

334,721

44,005

\*

Middleby

Corp

6,154,539

12,956

Miller

Industries,

Inc

329,471

28,046

Moog,

Inc

(Class

A)

2,376,899

77,007

\*

MRC

Global,

Inc

772,380

41,467

MSC

Industrial

Direct

Co

(Class

A)

3,440,932

47,311

Mueller

Industries,

Inc

2,963,561

127,783

Mueller

Water

Products,

Inc

(Class

A)

1,495,061

16,136

\*

MYR

Group,

Inc

1,412,061

3,880

National

Presto

Industries,

Inc

273,501

234,141

\*,e

Nikola

Corp

887,394

51,791

Nordson

Corp

11,652,975

124,246

Northrop

Grumman

Corp

68,212,296

5,310

\*

Northwest

Pipe

Co

180,487

82,939

\*

NOW,

Inc

1,055,813

26,440

\*,e

NuScale

Power

Corp

298,243

11,407

\*

NV5

Global

Inc

1,653,445

163,242

nVent

Electric

plc

5,958,333

2,460

e

Omega

Flex,

Inc

232,224

52,982

Oshkosh

Corp

4,662,416

348,217

Otis

Worldwide

Corp

24,598,049

80,311

Owens

Corning,

Inc

6,875,425

292,432

PACCAR,

Inc

28,316,191

17,936

Park

Aerospace

Corp

223,124

106,435

Parker-Hannifin

Corp

30,932,140

28,133

\*

Parsons

Corp

1,318,875

138,317

Pentair

plc

5,940,715

44,109

\*

PGT

Innovations,

Inc

939,963

460,362

\*,e

Plug

Power,

Inc

7,356,585

6,448

Powell

Industries,

Inc

159,072

1,196

Preformed

Line

Products

Co

94,927

60,342

Primoris

Services

Corp

1,218,305

177,926

\*,e

Proterra,

Inc

1,110,258

21,351

\*

Proto

Labs,

Inc

815,395

25,421

Quanex

Building

Products

Corp

563,329

114,391

Quanta

Services,

Inc

16,248,098

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

1,265,453

Raytheon

Technologies

Corp

$

119,990,253

26,664

\*

RBC

Bearings,

Inc

6,760,124

52,282

Regal-Beloit

Corp

6,615,764

115,983

\*

Resideo

Technologies,

Inc

2,739,518

36,153

REV

Group,

Inc

496,742

170,591

\*

Rocket

Lab

USA,

Inc

868,308

97,822

Rockwell

Automation,

Inc

24,973,957

30,831

Rush

Enterprises,

Inc

(Class

A)

1,538,159

4,548

Rush

Enterprises,

Inc

(Class

B)

243,864

103,449

\*,e

Sarcos

Technology

and

Robotics

Corp

208,967

119,164

Sensata

Technologies

Holding

plc

4,791,584

104,667

\*

Shoals

Technologies

Group,

Inc

2,418,854

25,668

Shyft

Group,

Inc

589,851

38,684

Simpson

Manufacturing

Co,

Inc

3,306,708

42,241

\*

SiteOne

Landscape

Supply,

Inc

4,894,465

47,587

Snap-On,

Inc

10,566,693

122,961

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

2,847,777

34,159

\*

SPX

Technologies,

Inc

2,249,029

8,739

Standex

International

Corp

865,598

121,491

Stanley

Black

&

Decker,

Inc

9,535,829

126,000

\*,e

Stem,

Inc

1,713,600

20,407

\*

Sterling

Construction

Co,

Inc

550,785

184,580

\*

Sunrun,

Inc

4,154,896

14,704

Tennant

Co

856,508

80,118

Terex

Corp

3,247,984

40,242

Textainer

Group

Holdings

Ltd

1,204,041

189,311

Textron,

Inc

12,956,445

23,343

\*

Thermon

Group

Holdings

414,572

50,017

Timken

Co

3,565,712

53,749

\*

Titan

International,

Inc

804,085

14,352

\*

Titan

Machinery,

Inc

493,422

94,336

Toro

Co

9,945,844

45,085

\*

TPI

Composites,

Inc

449,047

199,453

Trane

Technologies

plc

31,838,682

5,325

\*,e

Transcat

Inc

440,697

44,025

TransDigm

Group,

Inc

25,347,834

90,020

\*

Trex

Co,

Inc

4,329,062

69,451

Trinity

Industries,

Inc

1,981,437

51,326

Triton

International

Ltd

3,114,975

48,910

\*

Triumph

Group,

Inc

442,636

51,028

\*

Tutor

Perini

Corp

378,628

50,326

UFP

Industries,

Inc

3,584,721

61,097

\*

United

Rentals,

Inc

19,288,934

140,651

\*

Univar

Solutions

Inc

3,583,787

19,082

Valmont

Industries,

Inc

6,091,356

11,878

\*

Vectrus,

Inc

486,879

236,670

\*,e

Velo3D,

Inc

932,480

11,760

\*

Veritiv

Corp

1,367,218

249,794

Vertiv

Holdings

Co

3,574,552

16,098

\*

Vicor

Corp

769,001

164,836

\*,e

View,

Inc

222,529

217,140

\*,e

Virgin

Galactic

Holdings,

Inc

1,003,187

38,746

W.W.

Grainger,

Inc

22,641,225

40,766

Wabash

National

Corp

882,584

26,572

Watsco,

Inc

7,199,949

21,033

Watts

Water

Technologies,

Inc

(Class

A)

3,078,390

34,309

\*

WESCO

International,

Inc

4,726,751

151,561

Westinghouse

Air

Brake

Technologies

Corp

14,137,610

174,669

\*

WillScot

Mobile

Mini

Holdings

Corp

7,428,673

48,289

Woodward

Inc

4,428,101

153,650

Xylem,

Inc

15,738,370

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

92,718

Zurn

Water

Solutions

Corp

$

2,177,946

TOTAL

CAPITAL

GOODS

2,100,582,919

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.2

%

52,190

ABM

Industries,

Inc

2,322,977

94,105

ACCO

Brands

Corp

432,883

90,162

\*

ACV

Auctions,

Inc

822,277

272,563

\*

Alight,

Inc

2,259,547

14,321

Aris

Water

Solution,

Inc

243,887

40,816

\*

ASGN

Inc

3,460,381

10,334

\*

Atlas

Technical

Consultants,

Inc

78,332

5,507

Barrett

Business

Services,

Inc

480,321

113,988

Booz

Allen

Hamilton

Holding

Co

12,407,594

38,542

Brady

Corp

(Class

A)

1,763,297

35,982

\*

BrightView

Holdings,

Inc

320,959

36,672

Brink's

Co

2,186,751

18,835

\*

CACI

International,

Inc

(Class

A)

5,726,405

43,026

\*

Casella

Waste

Systems,

Inc

(Class

A)

3,519,957

44,572

\*

CBIZ,

Inc

2,212,554

14,083

\*

Cimpress

plc

327,852

74,095

Cintas

Corp

31,679,317

400,916

\*

Clarivate

Analytics

plc

4,141,462

46,261

\*

Clean

Harbors,

Inc

5,665,122

184,829

\*

Copart,

Inc

21,259,032

104,364

\*

CoreCivic,

Inc

1,092,691

344,522

\*

CoStar

Group,

Inc

28,498,860

4,636

CRA

International,

Inc

476,303

32,030

Deluxe

Corp

588,711

41,168

\*

Driven

Brands

Holdings,

Inc

1,316,553

202,898

Dun

&

Bradstreet

Holdings,

Inc

2,607,239

17,354

e

Ennis,

Inc

391,506

102,714

Equifax,

Inc

17,414,132

43,415

Exponent,

Inc

4,135,713

47,573

\*

First

Advantage

Corp

668,401

8,467

\*

Forrester

Research,

Inc

358,323

9,450

\*

Franklin

Covey

Co

478,170

32,878

\*

FTI

Consulting,

Inc

5,116,803

100,798

\*,e

Geo

Group,

Inc

852,751

63,399

\*

Harsco

Corp

335,381

58,399

Healthcare

Services

Group

815,250

15,494

Heidrick

&

Struggles

International,

Inc

436,311

8,521

\*

Heritage-Crystal

Clean,

Inc

234,072

57,994

Herman

Miller,

Inc

1,228,313

15,884

\*

HireRight

Holdings

Corp

213,799

37,487

HNI

Corp

1,086,748

18,175

\*

Huron

Consulting

Group,

Inc

1,338,225

104,539

\*

IAA,

Inc

3,965,164

14,707

ICF

International,

Inc

1,759,398

31,153

Insperity,

Inc

3,676,677

41,965

Interface,

Inc

474,624

104,414

Jacobs

Solutions,

Inc

12,030,581

103,138

\*

KAR

Auction

Services,

Inc

1,498,595

111,182

KBR,

Inc

5,533,528

26,308

Kelly

Services,

Inc

(Class

A)

429,873

15,300

Kforce,

Inc

968,031

27,589

Kimball

International,

Inc

(Class

B)

203,883

45,990

Korn/Ferry

International

2,556,584

85,584

\*,e

Legalzoom.com,

Inc

791,652

119,247

Leidos

Holdings,

Inc

12,114,303

106,100

\*,e

Li-Cycle

Holdings

Corp

632,356

41,289

Manpower,

Inc

3,234,580

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

24,504

Matthews

International

Corp

(Class

A)

$

658,668

20,072

\*

Montrose

Environmental

Group,

Inc

878,752

30,579

MSA

Safety,

Inc

4,104,925

8,365

NL

Industries,

Inc

73,277

136,262

Pitney

Bowes,

Inc

423,775

124,185

\*,e

Planet

Labs

PBC

651,971

86,207

\*

Quad

Graphics,

Inc

239,656

176,455

Republic

Services,

Inc

23,401,462

32,640

Resources

Connection,

Inc

596,333

99,094

Robert

Half

International,

Inc

7,576,727

194,788

Rollins,

Inc

8,196,679

45,185

Science

Applications

International

Corp

4,895,343

18,282

\*

SP

Plus

Corp

676,982

75,038

Steelcase,

Inc

(Class

A)

583,045

70,641

\*

Stericycle,

Inc

3,149,176

12,041

\*,e

Sterling

Check

Corp

235,161

42,803

Tetra

Tech,

Inc

6,047,208

155,328

TransUnion

9,206,291

32,233

\*

TriNet

Group,

Inc

2,094,500

28,337

\*

TrueBlue,

Inc

557,105

11,580

Unifirst

Corp

2,130,836

89,145

\*

Upwork,

Inc

1,199,000

133,225

Verisk

Analytics,

Inc

24,357,527

14,763

\*

Viad

Corp

550,365

7,784

VSE

Corp

360,321

348,986

Waste

Management,

Inc

55,268,913

8,181

\*

Willdan

Group,

Inc

113,061

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

379,092,050

CONSUMER

DURABLES

&

APPAREL

-

.1

%

30,455

Acushnet

Holdings

Corp

1,418,289

76,176

\*,e

Allbirds,

Inc

262,045

49,843

\*,e

AMMO,

Inc

161,990

38,651

\*

Beazer

Homes

USA,

Inc

437,143

73,338

Brunswick

Corp

5,182,796

111,523

\*

Callaway

Golf

Co

2,087,711

116,854

\*

Capri

Holdings

Ltd

5,337,891

32,879

Carter's,

Inc

2,231,498

7,789

\*

Cavco

Industries,

Inc

1,765,533

33,104

Century

Communities,

Inc

1,473,459

18,432

Clarus

Corp

223,211

31,928

Columbia

Sportswear

Co

2,378,636

45,741

\*

Crocs,

Inc

3,236,176

21,271

\*

Deckers

Outdoor

Corp

7,443,361

260,563

DR

Horton,

Inc

20,032,083

29,383

\*,e

Dream

Finders

Homes,

Inc

326,151

38,248

Ermenegildo

Zegna

Holditalia

S.p.A

419,198

18,468

Ethan

Allen

Interiors,

Inc

472,596

39,827

\*

Fossil

Group,

Inc

169,265

133,860

Garmin

Ltd

11,785,034

34,007

\*

G-III

Apparel

Group

Ltd

663,136

98,454

\*

GoPro,

Inc

536,574

22,959

\*

Green

Brick

Partners,

Inc

531,042

360,481

e

Hanesbrands,

Inc

2,458,480

116,960

Hasbro,

Inc

7,631,640

18,508

\*

Helen

of

Troy

Ltd

1,751,227

5,577

\*

Hovnanian

Enterprises,

Inc

224,920

18,104

Installed

Building

Products,

Inc

1,556,944

21,578

\*

iRobot

Corp

1,219,157

4,650

Johnson

Outdoors,

Inc

244,683

92,103

KB

Home

2,654,408

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

54,223

Kontoor

Brands,

Inc

$

1,935,761

43,291

\*

Landsea

Homes

Corp

210,394

29,783

\*

Latham

Group,

Inc

131,641

34,974

La-Z-Boy,

Inc

866,306

\*

Legacy

Housing

Corp

3,174

103,147

Leggett

&

Platt,

Inc

3,481,211

205,013

Lennar

Corp

(Class

A)

16,544,549

14,807

Lennar

Corp

(Class

B)

965,712

17,151

\*

LGI

Homes,

Inc

1,578,750

4,217

Lifetime

Brands,

Inc

36,119

9,027

\*

Lovesac

Co

219,717

94,955

\*

Lululemon

Athletica,

Inc

31,243,993

46,100

\*

M/I

Homes,

Inc

1,912,689

16,019

\*

Malibu

Boats,

Inc

847,405

7,010

Marine

Products

Corp

70,100

14,223

\*

MasterCraft

Boat

Holdings,

Inc

309,492

290,098

\*

Mattel,

Inc

5,500,258

46,508

MDC

Holdings,

Inc

1,416,634

28,148

\*

Meritage

Homes

Corp

2,143,752

43,705

\*

Mohawk

Industries,

Inc

4,141,049

11,843

Movado

Group,

Inc

391,648

301,601

Newell

Brands

Inc

4,165,110

1,047,743

Nike,

Inc

(Class

B)

97,104,821

2,456

\*

NVR,

Inc

10,407,914

12,110

e

Oxford

Industries,

Inc

1,231,950

364,389

\*

Peloton

Interactive,

Inc

3,060,868

29,917

\*,e

PLBY

Group,

Inc

108,300

45,367

Polaris

Inc

4,609,287

190,942

Pulte

Homes,

Inc

7,635,771

121,687

\*,e

Purple

Innovation,

Inc

428,338

55,322

PVH

Corp

2,839,125

37,049

e

Ralph

Lauren

Corp

3,434,072

5,184

Rocky

Brands,

Inc

102,047

114,981

\*

Skechers

U.S.A.,

Inc

(Class

A)

3,958,796

47,179

\*

Skyline

Champion

Corp

2,746,290

40,917

Smith

&

Wesson

Brands,

Inc

461,953

10,684

\*,e

Snap

One

Holdings

Corp

127,353

101,207

\*

Sonos,

Inc

1,631,457

61,788

Steven

Madden

Ltd

1,845,608

13,251

Sturm

Ruger

&

Co,

Inc

743,779

12,297

Superior

Uniform

Group,

Inc

121,986

208,948

Tapestry,

Inc

6,619,473

112,429

\*

Taylor

Morrison

Home

Corp

2,961,380

138,066

Tempur

Sealy

International,

Inc

3,712,595

87,165

Toll

Brothers,

Inc

3,755,068

25,656

\*

TopBuild

Corp

4,365,112

17,016

\*,e

Traeger,

Inc

70,616

90,288

\*

TRI

Pointe

Homes,

Inc

1,512,324

37,338

\*

Tupperware

Brands

Corp

288,623

147,040

\*

Under

Armour,

Inc

(Class

A)

1,095,448

158,135

\*

Under

Armour,

Inc

(Class

C)

1,037,366

14,350

\*

Unifi,

Inc

130,872

11,195

\*

Universal

Electronics,

Inc

228,490

281,527

VF

Corp

7,953,138

147,749

\*,e

Vinco

Ventures,

Inc

134,688

48,197

\*

Vista

Outdoor,

Inc

1,399,641

54,490

\*,e

Vizio

Holding

Corp

610,288

44,357

\*,e

Vuzix

Corp

221,785

12,871

e

Weber,

Inc

85,721

45,873

Whirlpool

Corp

6,341,483

62,932

Wolverine

World

Wide,

Inc

1,078,025

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

66,346

\*

YETI

Holdings,

Inc

$

2,128,380

TOTAL

CONSUMER

DURABLES

&

APPAREL

352,761,972

CONSUMER

SERVICES

-

.3

%

53,962

\*

2U,

Inc

334,025

44,163

\*

Accel

Entertainment,

Inc

433,681

199,257

e

ADT,

Inc

1,685,714

40,945

\*

Adtalem

Global

Education,

Inc

1,707,407

332,714

\*

Airbnb,

Inc

35,570,454

14,657

\*

American

Public

Education,

Inc

187,756

187,078

ARAMARK

Holdings

Corp

6,828,347

55,862

\*,e

Bally's

Corp

1,259,129

217,392

\*,e

Beachbody

Co,

Inc

219,566

613

\*

Biglari

Holdings,

Inc

(B

Shares)

84,563

16,786

\*

BJ's

Restaurants,

Inc

551,420

65,891

Bloomin'

Brands,

Inc

1,582,043

20,352

Bluegreen

Vacations

Holding

Corp

352,293

34,010

\*

Booking

Holdings,

Inc

63,581,015

30,766

\*,e

Bowlero

Corp

447,953

63,869

Boyd

Gaming

Corp

3,689,073

47,078

\*

Bright

Horizons

Family

Solutions

3,075,135

34,204

\*

Brinker

International,

Inc

1,142,072

183,476

\*

Caesars

Entertainment,

Inc

8,023,405

919,645

\*,e

Carnival

Corp

8,331,984

14,388

Carriage

Services,

Inc

351,211

20,956

\*

Century

Casinos,

Inc

166,600

32,657

e

Cheesecake

Factory

1,169,447

111,136

\*

Chegg,

Inc

2,397,204

24,091

\*

Chipotle

Mexican

Grill,

Inc

(Class

A)

36,096,268

28,165

Choice

Hotels

International,

Inc

3,656,944

29,473

Churchill

Downs,

Inc

6,127,731

15,044

\*

Chuy's

Holdings,

Inc

440,789

90,643

\*

Coursera,

Inc

1,168,388

17,634

e

Cracker

Barrel

Old

Country

Store,

Inc

2,014,155

101,256

Darden

Restaurants,

Inc

14,493,784

31,883

\*

Dave

&

Buster's

Entertainment,

Inc

1,270,538

51,535

\*

Denny's

Corp

583,892

13,988

Dine

Brands

Global

Inc.

1,008,395

30,612

Domino's

Pizza,

Inc

10,170,531

268,220

\*,e

DraftKings,

Inc

4,237,876

18,865

\*

Duolingo,

Inc

1,543,912

12,624

e

El

Pollo

Loco

Holdings,

Inc

126,745

9,928

European

Wax

Center,

Inc

142,765

65,861

\*

Everi

Holdings,

Inc

1,250,042

121,643

\*

Expedia

Group,

Inc

11,369,971

32,101

\*,e

F45

Training

Holdings,

Inc

107,217

7,507

\*

First

Watch

Restaurant

Group,

Inc

127,994

65,408

\*

frontdoor,

Inc

1,442,900

69,442

\*

Full

House

Resorts,

Inc

486,788

20,325

\*

Golden

Entertainment,

Inc

858,122

2,907

Graham

Holdings

Co

1,813,590

25,473

\*

Grand

Canyon

Education,

Inc

2,563,348

136,267

H&R

Block,

Inc

5,607,387

68,714

\*

Hilton

Grand

Vacations,

Inc

2,696,337

229,173

Hilton

Worldwide

Holdings,

Inc

30,997,940

38,154

\*

Hyatt

Hotels

Corp

3,594,488

31,713

\*

Inspired

Entertainment,

Inc

324,741

78,452

e

International

Game

Technology

plc

1,572,963

17,850

Jack

in

the

Box,

Inc

1,574,906

64,501

e

Krispy

Kreme,

Inc

925,589

4,617

\*,e

Kura

Sushi

USA,

Inc

364,882

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

287,306

\*

Las

Vegas

Sands

Corp

$

10,920,501

156,304

Laureate

Education,

Inc

1,975,683

100,776

\*,e

Life

Time

Group

Holdings,

Inc

1,057,140

52,342

\*,e

Lindblad

Expeditions

Holdings,

Inc

439,149

234,176

Marriott

International,

Inc

(Class

A)

37,493,919

32,099

Marriott

Vacations

Worldwide

Corp

4,742,948

629,431

McDonald's

Corp

171,620,656

287,171

MGM

Resorts

International

10,214,672

58,624

\*,e

Mister

Car

Wash,

Inc

517,650

9,918

\*

Monarch

Casino

&

Resort,

Inc

787,588

4,184

\*

NEOGAMES

S.A.

71,965

87,169

\*

Noodles

&

Co

507,324

373,089

\*,e

Norwegian

Cruise

Line

Holdings

Ltd

6,301,473

14,188

\*

ONE

Group

Hospitality,

Inc

106,126

40,465

\*

OneSpaWorld

Holdings

Ltd

367,018

25,431

Papa

John's

International,

Inc

1,847,054

143,228

\*

Penn

National

Gaming,

Inc

4,740,847

53,516

\*

Perdoceo

Education

Corp

611,688

64,736

\*

Planet

Fitness,

Inc

4,238,913

17,418

\*,e

Portillo's,

Inc

373,442

41,267

\*

PowerSchool

Holdings,

Inc

825,340

6,723

RCI

Hospitality

Holdings,

Inc

567,623

44,870

Red

Rock

Resorts,

Inc

1,868,836

74,121

\*,e

Rover

Group,

Inc

325,391

197,534

\*

Royal

Caribbean

Cruises

Ltd

10,544,365

105,659

\*

Rush

Street

Interactive,

Inc

438,485

33,773

Ruth's

Hospitality

Group

Inc

701,803

74,392

\*,e

Scientific

Games

Corp

(Class

A)

4,176,367

39,441

\*

SeaWorld

Entertainment,

Inc

2,293,889

127,983

Service

Corp

International

7,757,050

28,420

\*

Shake

Shack,

Inc

1,579,299

59,980

\*

Six

Flags

Entertainment

Corp

1,337,554

978,517

Starbucks

Corp

84,729,787

38,315

\*,e

StoneMor,

Inc

133,719

18,420

Strategic

Education,

Inc

1,270,980

31,895

\*

Stride,

Inc

1,068,801

72,320

\*,e

Sweetgreen,

Inc

1,345,152

24,593

\*,e

Target

Hospitality

Corp

299,297

55,054

Texas

Roadhouse,

Inc

(Class

A)

5,447,593

65,334

Travel

&

Leisure

Co

2,481,385

57,747

\*

Udemy,

Inc

840,219

92,719

\*,e

Vacasa,

Inc

338,424

32,385

Vail

Resorts,

Inc

7,096,525

96,685

\*

Vivint

Smart

Home,

Inc

739,640

143,392

Wendy's

2,979,686

23,002

Wingstop,

Inc

3,643,287

85,051

\*

WW

International

Inc

384,431

70,675

Wyndham

Hotels

&

Resorts,

Inc

5,366,353

82,178

\*

Wynn

Resorts

Ltd

5,251,174

30,216

\*

Xponential

Fitness,

Inc

584,680

251,220

Yum!

Brands,

Inc

29,706,765

TOTAL

CONSUMER

SERVICES

738,993,071

DIVERSIFIED

FINANCIALS

-

.3

%

8,517

AFC

Gamma,

Inc

145,896

31,621

Affiliated

Managers

Group,

Inc

3,926,063

405,643

AGNC

Investment

Corp

3,334,385

11,648

Alerus

Financial

Corp

259,750

259,908

Ally

Financial,

Inc

7,163,064

12,632

A-Mark

Precious

Metals,

Inc

384,139

509,232

American

Express

Co

75,595,490

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS—continued

93,123

Ameriprise

Financial,

Inc

$

28,786,182

357,043

Annaly

Capital

Management,

Inc

6,623,148

106,416

Apollo

Commercial

Real

Estate

Finance,

Inc

1,198,244

398,401

Apollo

Global

Management,

Inc

22,055,479

110,220

Arbor

Realty

Trust,

Inc

1,517,729

27,305

Ares

Commercial

Real

Estate

Corp

336,944

125,671

Ares

Management

Corp

9,529,632

60,138

ARMOUR

Residential

REIT,

Inc

319,934

57,123

Artisan

Partners

Asset

Management,

Inc

1,628,577

17,886

\*

Assetmark

Financial

Holdings,

Inc

370,419

2,527

Associated

Capital

Group,

Inc

101,838

3,923

\*

Atlanticus

Holdings

Corp

112,041

14,956

e

B. Riley

Financial,

Inc

608,410

26,431

Banco

Latinoamericano

de

Exportaciones

S.A.

(Class

E)

414,702

625,709

Bank

of

New

York

Mellon

Corp

26,348,606

1,531,831

\*

Berkshire

Hathaway,

Inc

(Class

B)

452,028,010

250,087

BGC

Partners,

Inc

(Class

A)

990,344

128,251

BlackRock,

Inc

82,838,603

136,685

Blackstone

Mortgage

Trust,

Inc

3,411,658

600,754

Blackstone,

Inc

54,752,720

40,435

\*

Blucora,

Inc

890,783

421,235

e

Blue

Owl

Capital,

Inc

4,220,775

34,377

Brightsphere

Investment

Group,

Inc

646,975

75,213

BrightSpire

Capital,

Inc

577,636

101,143

Broadmark

Realty

Capital,

Inc

588,652

67,189

\*

Cannae

Holdings,

Inc

1,556,097

325,441

Capital

One

Financial

Corp

34,503,255

167,120

Carlyle

Group,

Inc

4,726,154

94,104

CBOE

Global

Markets,

Inc

11,715,948

1,294,554

Charles

Schwab

Corp

103,137,117

298,910

Chimera

Investment

Corp

2,017,642

73,807

Claros

Mortgage

Trust,

Inc

1,180,912

305,616

CME

Group,

Inc

52,963,253

23,385

Cohen

&

Steers,

Inc

1,406,842

140,126

\*

Coinbase

Global,

Inc

9,283,347

48,064

e

Compass

Diversified

Trust

1,022,802

21,902

Cowen

Group,

Inc

845,855

5,569

\*,e

Credit

Acceptance

Corp

2,593,038

18,727

e

Curo

Group

Holdings

Corp

96,819

2,708

Diamond

Hill

Investment

Group,

Inc

487,305

230,694

Discover

Financial

Services

24,098,295

22,077

\*

Donnelley

Financial

Solutions,

Inc

892,573

20,144

Dynex

Capital,

Inc

240,519

40,420

Ellington

Financial

Inc

540,820

20,636

\*

Encore

Capital

Group,

Inc

1,050,785

29,509

\*

Enova

International,

Inc

1,106,292

326,967

Equitable

Holdings,

Inc

10,011,729

32,470

Evercore

Inc

3,412,597

29,783

\*

Ezcorp,

Inc

(Class

A)

287,704

31,113

Factset

Research

Systems,

Inc

13,238,270

77,672

Federated

Investors,

Inc

(Class

B)

2,699,102

30,284

FirstCash

Holdings,

Inc

2,981,460

50,027

\*

Focus

Financial

Partners,

Inc

1,740,439

66,905

Franklin

BSP

Realty

Trust,

Inc

942,691

268,366

Franklin

Resources,

Inc

6,293,183

24,464

e

GCM

Grosvenor,

Inc

202,317

280,867

Goldman

Sachs

Group,

Inc

96,761,490

42,206

Granite

Point

Mortgage

Trust,

Inc

331,739

40,633

\*

Green

Dot

Corp

773,246

25,919

Hamilton

Lane,

Inc

1,550,475

67,998

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc

1,848,186

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS—continued

43,279

Houlihan

Lokey,

Inc

$

3,865,680

74,955

Interactive

Brokers

Group,

Inc

(Class

A)

6,007,643

479,290

Intercontinental

Exchange

Group,

Inc

45,805,745

301,130

Invesco

Ltd

4,613,312

30,169

Invesco

Mortgage

Capital,

Inc

353,279

64,698

Jackson

Financial,

Inc

2,481,815

110,296

Janus

Henderson

Group

plc

2,511,440

169,782

Jefferies

Financial

Group,

Inc

5,842,199

499,788

KKR

&

Co,

Inc

24,304,690

40,213

KKR

Real

Estate

Finance

Trust,

Inc

700,510

92,781

Ladder

Capital

Corp

989,973

77,741

Lazard

Ltd

(Class

A)

2,931,613

94,224

\*

LendingClub

Corp

1,002,543

9,236

\*

LendingTree,

Inc

233,024

66,680

LPL

Financial

Holdings,

Inc

17,046,742

33,472

MarketAxess

Holdings,

Inc

8,168,507

81,548

MFA

Financial,

Inc

812,218

46,337

Moelis

&

Co

1,967,469

137,748

Moody's

Corp

36,485,313

1,061,045

Morgan

Stanley

87,186,068

24,087

Morningstar,

Inc

5,592,520

66,917

MSCI,

Inc

(Class

A)

31,374,705

298,128

Nasdaq

Inc

18,555,487

92,124

Navient

Corp

1,394,757

11,634

Nelnet,

Inc

(Class

A)

1,036,473

28,654

\*,e

NerdWallet,

Inc

336,398

335,869

New

Residential

Investment

Corp

2,831,376

309,429

New

York

Mortgage

Trust,

Inc

832,364

176,509

Northern

Trust

Corp

14,888,534

87,052

OneMain

Holdings,

Inc

3,356,725

78,886

\*

Open

Lending

Corp

565,613

15,352

\*

Oportun

Financial

Corp

84,436

8,014

Oppenheimer

Holdings,

Inc

275,842

91,464

\*,e

OppFi,

Inc

207,623

19,881

Orchid

Island

Capital,

Inc

200,202

80,688

PennyMac

Mortgage

Investment

Trust

1,119,143

13,468

Piper

Jaffray

Cos

1,723,500

19,040

PJT

Partners,

Inc

1,416,576

35,342

\*

PRA

Group,

Inc

1,183,957

51,803

\*

PROG

Holdings,

Inc

855,786

171,469

Raymond

James

Financial,

Inc

20,257,348

49,956

Ready

Capital

Corp

605,467

92,635

Redwood

Trust,

Inc

660,488

6,059

Regional

Management

Corp

205,764

446,968

\*,e

Robinhood

Markets,

Inc

5,220,586

285,196

S&P

Global,

Inc

91,619,215

16,501

Sculptor

Capital

Management,

Inc

175,076

102,332

SEI

Investments

Co

5,556,628

223,476

SLM

Corp

3,707,467

639,179

\*

SoFi

Technologies,

Inc

3,477,134

224,423

Starwood

Property

Trust,

Inc

4,636,579

310,204

State

Street

Corp

22,955,096

36,890

StepStone

Group,

Inc

1,088,993

84,293

Stifel

Financial

Corp

5,215,208

12,459

\*

StoneX

Group,

Inc

1,162,674

411,530

Synchrony

Financial

14,634,007

189,917

T

Rowe

Price

Group,

Inc

20,161,589

48,537

TPG

RE

Finance

Trust,

Inc

411,108

89,533

Tradeweb

Markets,

Inc

4,931,478

263,765

Two

Harbors

Investment

Corp

939,003

47,655

\*,e

Upstart

Holdings,

Inc

1,104,643

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS—continued

13,602

Victory

Capital

Holdings,

Inc

$

393,370

83,473

Virtu

Financial,

Inc

1,868,126

5,785

Virtus

Investment

Partners,

Inc

992,070

84,787

Voya

Financial,

Inc

5,796,039

103,714

WisdomTree

Investments,

Inc

563,167

3,402

\*,e

World

Acceptance

Corp

276,310

TOTAL

DIVERSIFIED

FINANCIALS

1,750,003,559

ENERGY

-

.4

%

67,342

\*,e

Aemetis,

Inc

498,331

54,108

\*

Alto

Ingredients,

Inc

223,466

13,378

e

Altus

Midstream

Co

492,043

354,442

Antero

Midstream

Corp

3,774,807

236,663

\*

Antero

Resources

Corp

8,676,065

284,371

APA

Corp

12,927,506

12,551

Arch

Resources,

Inc

1,911,392

48,137

\*

Archaea

Energy,

Inc

1,242,416

108,360

Archrock,

Inc

813,784

38,962

\*

Ardmore

Shipping

Corp

527,156

788,780

Baker

Hughes

Co

21,817,655

77,118

Berry

Petroleum

Co

LLC

684,037

59,068

Bonanza

Creek

Energy,

Inc

4,129,444

184,250

\*

Borr

Drilling

Ltd

904,667

32,783

Brigham

Minerals,

Inc

1,016,273

23,545

\*

Bristow

Group,

Inc

704,937

673,931

Cabot

Oil

&

Gas

Corp

20,979,472

41,026

Cactus,

Inc

2,121,865

63,465

California

Resources

Corp

2,862,906

41,718

\*

Callon

Petroleum

Co

1,833,923

6,408

\*,e

Centrus

Energy

Corp

303,162

159,700

ChampionX

Corp

4,570,614

210,961

Cheniere

Energy,

Inc

37,215,630

103,453

Chesapeake

Energy

Corp

10,580,138

1,671,436

Chevron

Corp

302,362,772

119,423

\*

Clean

Energy

Fuels

Corp

801,328

160,470

\*,e

CNX

Resources

Corp

2,697,501

78,360

\*

Comstock

Resources

Inc

1,471,601

1,083,394

ConocoPhillips

136,605,149

35,040

CONSOL

Energy,

Inc

2,208,221

29,465

Continental

Resources,

Inc

2,179,526

38,578

e

Crescent

Energy,

Inc

531,605

25,484

CVR

Energy,

Inc

995,405

66,404

Delek

US

Holdings,

Inc

1,969,543

40,714

\*

Denbury,

Inc

3,721,667

556,286

Devon

Energy

Corp

43,028,722

108,512

DHT

Holdings,

Inc

966,842

81,055

\*,e

Diamond

Offshore

Drilling,

Inc

798,392

149,976

Diamondback

Energy,

Inc

23,562,729

29,682

\*

DMC

Global,

Inc

642,318

26,271

Dorian

LPG

Ltd

474,717

24,796

\*

Dril-Quip,

Inc

616,924

78,255

DT

Midstream,

Inc

4,671,823

34,468

\*,e

Earthstone

Energy,

Inc

557,003

18,892

\*,e

Empire

Petroleum

Corp

302,272

125,659

\*,e

Energy

Fuels,

Inc

904,745

24,776

Enviva,

Inc

1,482,596

499,915

EOG

Resources,

Inc

68,248,396

321,440

EQT

Corp

13,449,050

333,011

Equitrans

Midstream

Corp

2,803,953

14,874

e

Excelerate

Energy,

Inc

410,820

3,557,375

d

Exxon

Mobil

Corp

394,192,724

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

18,754

e

FLEX

LNG

Ltd

$

586,062

61,762

\*

Frank's

International

NV

1,169,155

100,079

e

Frontline

Ltd

1,256,992

155,431

\*,e

Gevo,

Inc

349,720

74,372

\*

Golar

LNG

Ltd

2,069,029

36,721

\*

Green

Plains

Inc

1,060,870

9,482

\*

Gulfport

Energy

Operating

Corp

848,734

723,100

Halliburton

Co

26,335,302

115,013

\*

Helix

Energy

Solutions

Group,

Inc

805,091

80,959

Helmerich

&

Payne,

Inc

4,008,280

239,938

Hess

Corp

33,850,453

136,545

HF

Sinclair

Corp

8,352,458

5,102

e

HighPeak

Energy,

Inc

118,979

40,015

International

Seaways,

Inc

1,697,036

1,674,153

Kinder

Morgan,

Inc

30,335,652

518,206

\*

Kosmos

Energy

Ltd

3,363,157

14,222

\*

Laredo

Petroleum,

Inc

919,452

114,010

\*

Liberty

Oilfield

Services,

Inc

1,927,909

132,805

Magnolia

Oil

&

Gas

Corp

3,410,432

568,226

Marathon

Oil

Corp

17,302,482

423,205

Marathon

Petroleum

Corp

48,084,552

87,382

Matador

Resources

Co

5,806,534

112,829

Murphy

Oil

Corp

5,473,335

13,020

\*

Nabors

Industries

Ltd

2,265,871

6,771

e

Nacco

Industries,

Inc

(Class

A)

382,968

21,846

\*

National

Energy

Services

Reunited

Corp

165,156

38,823

New

Fortress

Energy,

Inc

2,137,983

118,239

\*

Newpark

Resources,

Inc

432,755

55,453

\*,e

NextDecade

Corp

388,171

252,566

\*

NexTier

Oilfield

Solutions,

Inc

2,545,865

61,565

\*

Noble

Corp

plc

2,218,803

173,863

Nordic

American

Tankers

Ltd

537,237

80,018

Northern

Oil

and

Gas,

Inc

2,731,814

365,081

NOV,

Inc

8,177,814

34,605

Oasis

Petroleum,

Inc

5,297,679

697,029

Occidental

Petroleum

Corp

50,604,305

167,771

\*

Oceaneering

International,

Inc

2,347,116

51,141

\*

Oil

States

International,

Inc

330,882

375,106

ONEOK,

Inc

22,251,288

208,017

Ovintiv,

Inc

10,536,061

30,460

\*

Par

Pacific

Holdings,

Inc

696,925

171,220

Patterson-UTI

Energy,

Inc

3,022,033

91,927

\*

PBF

Energy,

Inc

4,067,770

75,201

PDC

Energy,

Inc

5,425,000

93,522

\*,e

Peabody

Energy

Corp

2,235,176

17,240

Penn

Virginia

Corp

705,116

207,692

\*

Permian

Resources

Corp

2,029,151

410,751

Phillips

42,837,222

203,592

Pioneer

Natural

Resources

Co

52,203,025

67,160

\*

ProPetro

Holding

Corp

795,174

216,789

Range

Resources

Corp

6,174,151

12,543

\*

Rex

American

Resources

Corp

376,164

9,335

Riley

Exploration

Permian,

Inc

271,368

83,799

\*,e

Ring

Energy,

Inc

267,319

56,320

RPC,

Inc

626,842

25,758

\*

SandRidge

Energy,

Inc

486,569

1,199,025

Schlumberger

Ltd

62,385,271

41,375

Scorpio

Tankers,

Inc

1,983,517

52,003

\*

Select

Energy

Services,

Inc

501,829

109,369

SFL

Corp

Ltd

1,115,564

9,405

\*,e

SilverBow

Resources,

Inc

333,595

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

7,233

e

Sitio

Royalties

Corp

$

205,128

100,220

SM

Energy

Co

4,507,896

22,723

Solaris

Oilfield

Infrastructure,

Inc

309,487

919,940

\*

Southwestern

Energy

Co

6,375,184

52,874

\*

Talos

Energy,

Inc

1,125,159

182,051

Targa

Resources

Investments,

Inc

12,446,827

114,175

\*

Teekay

Corp

446,424

18,022

\*

Teekay

Tankers

Ltd

567,513

409,081

\*,e

Tellurian,

Inc

1,104,519

92,761

\*

Tetra

Technologies,

Inc

458,239

4,693

Texas

Pacific

Land

Corp

10,812,062

30,687

\*

Tidewater,

Inc

1,040,289

232,916

\*

Uranium

Energy

Corp

980,576

138,061

\*,e

Ur-Energy,

Inc

178,099

65,825

\*

US

Silica

Holdings,

Inc

947,222

47,451

e

Vaalco

Energy,

Inc

244,373

48,936

\*

Valaris

Ltd

3,275,286

326,100

Valero

Energy

Corp

40,941,855

43,503

\*,e

Vertex

Energy,

Inc

371,081

109,415

\*

W&T

Offshore,

Inc

830,460

62,988

\*

Weatherford

International

Ltd

2,625,340

1,013,225

Williams

Cos,

Inc

33,162,854

51,846

World

Fuel

Services

Corp

1,321,554

TOTAL

ENERGY

1,778,769,675

FOOD

&

STAPLES

RETAILING

-

.5

%

127,927

Albertsons

Cos,

Inc

2,623,783

24,710

Andersons,

Inc

871,522

106,183

\*

BJ's

Wholesale

Club

Holdings,

Inc

8,218,564

31,224

Casey's

General

Stores,

Inc

7,266,137

26,760

\*

Chefs'

Warehouse

Holdings,

Inc

980,219

376,266

Costco

Wholesale

Corp

188,697,399

88,118

\*

Grocery

Outlet

Holding

Corp

3,046,239

39,894

\*,e

HF

Foods

Group

Inc

184,709

10,287

Ingles

Markets,

Inc

(Class

A)

970,784

546,920

Kroger

Co

25,863,847

10,760

Natural

Grocers

by

Vitamin

C

123,740

124,381

\*

Performance

Food

Group

Co

6,472,787

17,934

Pricesmart,

Inc

1,147,238

45,057

\*,e

Rite

Aid

Corp

235,198

29,053

SpartanNash

Co

1,037,483

90,053

\*

Sprouts

Farmers

Market,

Inc

2,656,563

438,498

SYSCO

Corp

37,956,387

43,334

\*

United

Natural

Foods,

Inc

1,837,795

171,952

\*

US

Foods

Holding

Corp

5,117,291

4,683

Village

Super

Market

(Class

A)

104,150

617,954

Walgreens

Boots

Alliance,

Inc

22,555,321

1,224,664

Walmart,

Inc

174,306,427

15,315

Weis

Markets,

Inc

1,434,556

TOTAL

FOOD

&

STAPLES

RETAILING

493,708,139

FOOD,

BEVERAGE

&

TOBACCO

-

.4

%

114,071

\*,e

22nd

Century

Group,

Inc

149,433

1,539,692

Altria

Group,

Inc

71,241,549

103,210

\*,e

AppHarvest,

Inc

219,837

479,454

Archer-Daniels-Midland

Co

46,497,449

58,750

e

B&G

Foods,

Inc

(Class

A)

962,325

136,900

\*,e

Benson

Hill,

Inc

464,091

44,201

\*,e

Beyond

Meat,

Inc

693,956

9,869

\*

Boston

Beer

Co,

Inc

(Class

A)

3,683,999

39,497

Brown-Forman

Corp

(Class

A)

2,716,209

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

148,652

Brown-Forman

Corp

(Class

B)

$

10,108,336

123,197

Bunge

Ltd

12,159,544

14,762

Calavo

Growers,

Inc

510,618

30,770

Cal-Maine

Foods,

Inc

1,738,813

171,667

Campbell

Soup

Co

9,082,901

45,386

\*

Celsius

Holdings,

Inc

4,133,757

3,308,112

Coca-Cola

Co

197,990,503

3,983

Coca-Cola

Consolidated

Inc

1,939,761

375,947

ConAgra

Brands,

Inc

13,797,255

129,574

Constellation

Brands,

Inc

(Class

A)

32,015,144

142,093

\*

Darling

International,

Inc

11,151,459

35,513

\*

Duckhorn

Portfolio,

Inc

519,200

184,112

Flowers

Foods,

Inc

5,285,855

35,907

Fresh

Del

Monte

Produce,

Inc

936,455

36,691

\*

Freshpet,

Inc

2,162,934

504,368

General

Mills,

Inc

41,146,341

70,395

\*

Hain

Celestial

Group,

Inc

1,317,090

123,964

Hershey

Co

29,598,884

250,676

Hormel

Foods

Corp

11,643,900

104,620

\*

Hostess

Brands,

Inc

2,770,338

58,847

Ingredion,

Inc

5,244,445

11,897

J&J

Snack

Foods

Corp

1,756,116

89,137

J.M.

Smucker

Co

13,429,380

7,570

John

B. Sanfilippo

&

Son,

Inc

631,414

222,679

Kellogg

Co

17,106,201

741,366

Keurig

Dr

Pepper,

Inc

28,794,655

589,824

Kraft

Heinz

Co

22,690,529

119,175

Lamb

Weston

Holdings,

Inc

10,275,268

15,350

Lancaster

Colony

Corp

2,767,298

25,123

\*

Landec

Corp

249,974

212,990

McCormick

&

Co,

Inc

16,749,534

12,847

MGP

Ingredients,

Inc

1,439,506

27,917

\*

Mission

Produce,

Inc

464,539

139,127

Molson

Coors

Brewing

Co

(Class

B)

7,016,175

1,168,392

Mondelez

International,

Inc

71,832,740

314,469

\*

Monster

Beverage

Corp

29,472,035

21,824

National

Beverage

Corp

1,034,894

1,171,730

PepsiCo,

Inc

212,762,733

1,320,399

Philip

Morris

International,

Inc

121,278,648

43,159

\*,e

Pilgrim's

Pride

Corp

994,815

44,550

\*

Post

Holdings,

Inc

4,028,211

122,967

Primo

Water

Corp

1,794,088

Seaboard

Corp

902,878

4,216

\*

Seneca

Foods

Corp

266,072

76,518

\*

Simply

Good

Foods

Co

2,930,639

18,473

\*

Sovos

Brands,

Inc

256,036

78,204

\*

SunOpta,

Inc

878,231

35,294

\*,e

Tattooed

Chef,

Inc

167,646

13,567

Tootsie

Roll

Industries,

Inc

547,971

39,282

\*

TreeHouse

Foods,

Inc

1,973,528

10,723

Turning

Point

Brands,

Inc

252,634

247,524

Tyson

Foods,

Inc

(Class

A)

16,918,265

19,801

Universal

Corp

1,002,129

44,376

Utz

Brands,

Inc

719,335

159,177

Vector

Group

Ltd

1,690,460

28,681

\*

Vita

Coco

Co,

Inc

294,267

18,534

\*

Vital

Farms,

Inc

245,390

28,260

\*

Whole

Earth

Brands,

Inc

97,497

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

1,117,594,112

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.3

%

144,099

\*

1Life

Healthcare,

Inc

$

2,464,093

1,461,298

Abbott

Laboratories

144,580,824

40,018

\*

Abiomed,

Inc

10,087,737

72,586

\*

Acadia

Healthcare

Co,

Inc

5,901,242

87,948

\*

Accolade,

Inc

948,079

57,601

\*

AdaptHealth

Corp

1,313,303

11,376

\*

Addus

HomeCare

Corp

1,165,130

28,381

\*,e

Agiliti,

Inc

495,816

150,845

\*,e

agilon

health,

Inc

2,994,273

14,195

e

AirSculpt

Technologies,

Inc

96,242

67,055

\*

Align

Technology,

Inc

13,028,787

68,336

\*

Alignment

Healthcare,

Inc

904,769

106,021

\*

Allscripts

Healthcare

Solutions,

Inc

1,558,509

52,892

\*

Alphatec

Holdings

Inc

541,614

24,952

\*

Amedisys,

Inc

2,435,066

213,233

\*

American

Well

Corp

872,123

126,694

AmerisourceBergen

Corp

19,918,831

35,917

\*

AMN

Healthcare

Services,

Inc

4,507,584

27,895

\*

Angiodynamics,

Inc

393,041

32,313

\*,e

Apollo

Medical

Holdings,

Inc

1,145,819

166,667

\*,e

ATI

Physical

Therapy,

Inc

181,667

33,960

\*

AtriCure,

Inc

1,430,395

1,124

Atrion

Corp

674,748

37,191

\*

Avanos

Medical,

Inc

823,781

164,083

\*

Aveanna

Healthcare

Holdings,

Inc

228,075

28,753

\*

AxoGen,

Inc

328,359

47,663

\*

Axonics

Modulation

Technologies,

Inc

3,486,072

415,934

Baxter

International,

Inc

22,606,013

240,898

Becton

Dickinson

&

Co

56,844,701

18,374

\*

BioLife

Solutions

Inc

432,157

20,138

\*,e

Bioventus,

Inc

163,923

1,211,193

\*

Boston

Scientific

Corp

52,214,530

146,444

\*

Brookdale

Senior

Living,

Inc

654,605

139,920

\*,e

Butterfly

Network,

Inc

685,608

161,189

\*

Cano

Health,

Inc

577,057

228,351

Cardinal

Health,

Inc

17,331,841

31,027

\*

Cardiovascular

Systems,

Inc

448,030

58,028

\*,e

CareMax,

Inc

408,517

16,061

\*

Castle

Biosciences,

Inc

409,877

471,599

\*

Centene

Corp

40,147,223

104,711

\*

Certara,

Inc

1,280,616

128,984

\*

Cerus

Corp

472,081

14,037

Chemed

Corp

6,553,454

255,194

Cigna

Corp

82,442,974

305,440

\*,e

Clover

Health

Investments

Corp

482,595

93,838

\*

Community

Health

Systems,

Inc

269,315

20,990

\*

Computer

Programs

&

Systems,

Inc

677,977

23,321

Conmed

Corp

1,859,383

42,387

Cooper

Cos,

Inc

11,588,182

7,699

\*

Corvel

Corp

1,264,253

27,007

\*

Cross

Country

Healthcare,

Inc

1,001,690

29,096

\*

CryoLife,

Inc

324,711

30,605

\*

CryoPort,

Inc

849,595

86,186

\*

Cue

Health,

Inc

342,158

13,300

\*,e

Cutera,

Inc

611,401

1,119,221

CVS

Health

Corp

105,990,229

46,803

\*

DaVita,

Inc

3,417,087

20,022

\*

Definitive

Healthcare

Corp

315,947

172,495

Dentsply

Sirona,

Inc

5,316,296

338,057

\*

Dexcom,

Inc

40,830,524

64,461

\*

DocGo,

Inc

638,164

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

108,828

\*,e

Doximity,

Inc

$

2,880,677

523,299

\*

Edwards

Lifesciences

Corp

37,902,547

206,304

Elevance

Health,

Inc

112,800,838

45,205

Embecta

Corp

1,397,739

75,836

Encompass

Health

Corp

4,128,512

37,918

\*

Enhabit,

Inc

470,942

35,865

\*

Enovis

Corp

1,773,524

46,696

Ensign

Group,

Inc

4,192,367

141,536

\*

Envista

Holdings

Corp

4,672,103

69,796

\*

Evolent

Health,

Inc

2,220,211

102,503

\*,e

Figs,

Inc

756,472

16,372

\*

Fulgent

Genetics,

Inc

648,822

44,797

\*

Glaukos

Corp

2,511,768

66,139

\*

Globus

Medical,

Inc

4,431,313

78,396

\*

Guardant

Health,

Inc

3,880,602

43,166

\*

Haemonetics

Corp

3,666,952

186,592

HCA

Healthcare,

Inc

40,578,162

39,874

\*

Health

Catalyst,

Inc

351,689

79,939

\*

HealthEquity,

Inc

6,228,048

20,673

\*

HealthStream,

Inc

510,623

126,586

\*

Henry

Schein,

Inc

8,666,078

7,123

\*

Heska

Corp

511,147

98,260

\*

Hims

&

Hers

Health,

Inc

446,100

215,229

\*

Hologic,

Inc

14,592,526

106,655

Humana,

Inc

59,522,022

21,788

\*

ICU

Medical,

Inc

3,233,557

69,710

\*

IDEXX

Laboratories,

Inc

25,073,293

37,800

\*

Inari

Medical,

Inc

2,907,954

21,438

\*,e

Innovage

Holding

Corp

132,701

14,364

\*

Inogen,

Inc

325,488

23,270

\*

Inspire

Medical

Systems,

Inc

4,536,487

59,491

\*

Insulet

Corp

15,396,866

30,115

\*

Integer

Holding

Corp

1,877,068

60,847

\*

Integra

LifeSciences

Holdings

Corp

3,057,562

305,624

\*

Intuitive

Surgical,

Inc

75,327,147

201,880

\*,e

Invitae

Corp

520,850

4,627

iRadimed

Corp

134,414

25,639

\*

iRhythm

Technologies,

Inc

3,268,716

10,450

\*

Joint

Corp

172,634

78,401

Laboratory

Corp

of

America

Holdings

17,394,046

62,350

\*

Lantheus

Holdings,

Inc

4,613,277

16,588

LeMaitre

Vascular,

Inc

719,919

28,791

\*

LHC

Group,

Inc

4,810,976

56,680

\*,e

LifeStance

Health

Group,

Inc

427,934

50,174

\*

LivaNova

plc

2,363,195

41,265

\*

Masimo

Corp

5,430,474

123,932

McKesson

Corp

48,255,403

63,632

\*

MEDNAX,

Inc

1,234,461

1,138,666

Medtronic

plc

99,451,088

41,458

\*

Meridian

Bioscience,

Inc

1,325,412

61,943

\*

Merit

Medical

Systems,

Inc

4,259,820

3,666

Mesa

Laboratories,

Inc

484,682

9,626

\*

ModivCare,

Inc

936,032

49,583

\*

Molina

Healthcare,

Inc

17,793,355

324,704

\*,e

Multiplan

Corp

931,901

33,763

\*

Nano-X

Imaging

Ltd

479,435

9,997

National

Healthcare

Corp

609,017

13,643

National

Research

Corp

555,679

87,993

\*

Neogen

Corp

1,161,508

26,411

\*

Nevro

Corp

1,012,598

43,227

\*

NextGen

Healthcare,

Inc

866,269

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

94,743

\*,e

Novocure

Ltd

$

6,694,540

69,768

\*,e

Nutex

Health,

Inc

56,163

40,332

\*

NuVasive,

Inc

1,779,851

101,192

\*,e

Oak

Street

Health,

Inc

2,047,114

37,732

\*

Omnicell,

Inc

2,917,438

309,914

\*,e

Opko

Health,

Inc

588,837

12,737

\*

OptimizeRx

Corp

196,341

122,648

\*

Option

Care

Health,

Inc

3,711,329

55,936

\*

OraSure

Technologies,

Inc

243,881

14,962

\*

Orthofix

Medical

Inc

240,290

10,643

\*

OrthoPediatrics

Corp

452,221

34,512

\*

Outset

Medical,

Inc

536,317

56,019

Owens

&

Minor,

Inc

952,323

36,794

\*,e

Paragon

28,

Inc

734,776

67,384

Patterson

Cos,

Inc

1,749,962

32,233

\*

Pennant

Group,

Inc

396,788

30,652

\*

Penumbra,

Inc

5,255,898

18,578

\*

PetIQ,

Inc

152,711

36,146

\*

Phreesia,

Inc

987,509

96,802

Premier,

Inc

3,376,454

32,316

\*

Privia

Health

Group,

Inc

1,081,940

20,424

\*

PROCEPT

BioRobotics

Corp

927,862

72,597

\*,†

Progenics

Pharmaceuticals,

Inc

59,713

\*

Progyny,

Inc

2,655,437

111,084

\*

Project

Roadrunner

Parent,

Inc

1,961,743

19,107

\*

Pulmonx

Corp

255,270

101,408

Quest

Diagnostics,

Inc

14,567,259

43,308

\*

QuidelOrtho

Corp

3,889,925

32,981

\*

RadNet,

Inc

630,597

123,236

Resmed,

Inc

27,566,661

25,084

\*,e

RxSight,

Inc

312,045

34,225

\*

Schrodinger,

Inc

820,373

24,695

\*

SeaSpine

Holdings

Corp

158,789

87,546

Select

Medical

Holdings

Corp

2,248,181

189,874

\*,e

Sema4

Holdings

Corp

195,570

313,654

\*,e

Senseonics

Holdings,

Inc

370,112

152,285

\*,e

Sharecare,

Inc

292,387

32,091

\*

Shockwave

Medical

Inc

9,407,477

24,420

\*

SI-BONE,

Inc

474,725

42,115

\*,e

Sight

Sciences,

Inc

329,760

80,504

\*

Signify

Health,

Inc

2,353,132

26,274

\*

Silk

Road

Medical

Inc

1,158,158

17,839

e

Simulations

Plus,

Inc

740,319

49,752

\*

Staar

Surgical

Co

3,525,924

82,452

STERIS

plc

14,229,566

296,069

Stryker

Corp

67,870,858

26,047

\*

Surgery

Partners,

Inc

708,218

12,498

\*

SurModics,

Inc

426,682

16,594

\*

Tactile

Systems

Technology,

Inc

123,459

48,134

\*

Tandem

Diabetes

Care,

Inc

2,702,724

128,799

\*

Teladoc,

Inc

3,817,602

37,794

Teleflex,

Inc

8,109,081

82,151

\*

Tenet

Healthcare

Corp

3,644,218

29,723

\*

Transmedics

Group,

Inc

1,433,243

22,626

\*

Treace

Medical

Concepts,

Inc

553,884

7,338

\*

UFP

Technologies,

Inc

688,671

794,068

UnitedHealth

Group,

Inc

440,826,850

52,043

Universal

Health

Services,

Inc

(Class

B)

6,030,222

10,603

US

Physical

Therapy,

Inc

941,546

1,543

Utah

Medical

Products,

Inc

138,176

28,457

\*

Varex

Imaging

Corp

629,184

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

122,463

\*

Veeva

Systems,

Inc

$

20,566,436

137,710

\*,e

VG

Acquisition

Corp

432,409

81,082

\*,e

Vicarious

Surgical,

Inc

313,787

100,633

\*

ViewRay,

Inc

431,716

177,107

Zimmer

Biomet

Holdings,

Inc

20,075,078

16,254

\*

Zimvie,

Inc

142,548

18,838

e

Zynex

Inc

214,753

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

2,056,826,995

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.4

%

74,923

\*,e

Beauty

Health

Co

856,370

127,386

\*

BellRing

Brands,

Inc

3,085,289

8,650

\*

Central

Garden

&

Pet

Co

356,985

31,768

\*

Central

Garden

and

Pet

Co

(Class

A)

1,243,399

201,086

Church

&

Dwight

Co,

Inc

14,906,505

104,412

Clorox

Co

15,248,328

709,020

Colgate-Palmolive

Co

52,354,037

285,172

\*

Coty,

Inc

1,913,504

43,109

Edgewell

Personal

Care

Co

1,689,442

33,082

\*

elf

Beauty,

Inc

1,431,127

49,150

Energizer

Holdings,

Inc

1,419,943

198,715

Estee

Lauder

Cos

(Class

A)

39,840,370

82,434

\*

Herbalife

Nutrition

Ltd

1,752,547

63,134

\*

Honest

Co,

Inc

208,974

13,924

Inter

Parfums,

Inc

1,126,173

287,715

Kimberly-Clark

Corp

35,809,009

8,832

Medifast,

Inc

1,033,256

9,715

\*

Nature's

Sunshine

Products,

Inc

81,995

37,408

Nu

Skin

Enterprises,

Inc

(Class

A)

1,428,612

99,559

\*

Olaplex

Holdings,

Inc

438,060

2,028,345

Procter

&

Gamble

Co

273,157,221

43,781

e

Reynolds

Consumer

Products,

Inc

1,337,072

33,625

Spectrum

Brands

Holdings,

Inc

1,551,457

9,753

\*

USANA

Health

Sciences,

Inc

512,130

48,983

\*,e

Veru,

Inc

599,552

10,749

Co

1,721,560

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

455,102,917

INSURANCE

-

.4

%

538,004

Aflac,

Inc

35,029,441

229,252

Allstate

Corp

28,943,065

31,404

\*

AMBAC

Financial

Group,

Inc

441,226

64,805

American

Equity

Investment

Life

Holding

Co

2,791,799

57,407

American

Financial

Group,

Inc

8,330,330

631,148

American

International

Group,

Inc

35,975,436

15,389

Amerisafe,

Inc

898,872

177,991

Aon

plc

50,102,687

293,088

\*

Arch

Capital

Group

Ltd

16,852,560

23,843

Argo

Group

International

Holdings

Ltd

592,975

175,470

Arthur

J. Gallagher

&

Co

32,826,928

44,830

Assurant,

Inc

6,090,604

55,148

Assured

Guaranty

Ltd

3,264,210

59,084

Axis

Capital

Holdings

Ltd

3,230,122

154,575

\*,e

Bright

Health

Group,

Inc

159,212

63,823

\*

Brighthouse

Financial,

Inc

3,642,379

206,046

Brown

&

Brown,

Inc

12,113,444

34,486

\*

BRP

Group,

Inc

977,678

356,203

Chubb

Ltd

76,544,463

133,904

Cincinnati

Financial

Corp

13,834,961

1,489

CNA

Financial

Corp

62,091

99,432

Conseco,

Inc

2,193,470

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

INSURANCE—continued

563

Crawford

&

Co

$

3,372

3,646

Donegal

Group,

Inc

(Class

A)

53,377

20,297

\*

eHealth,

Inc

54,396

21,677

Employers

Holdings,

Inc

945,334

9,688

\*

Enstar

Group

Ltd

1,942,638

20,634

Erie

Indemnity

Co

(Class

A)

5,303,144

31,337

Everest

Re

Group

Ltd

10,111,196

238,034

Fidelity

National

Financial

Inc

9,373,779

82,599

First

American

Financial

Corp

4,162,990

380,293

\*

Genworth

Financial,

Inc

(Class

A)

1,775,968

81,339

Globe

Life,

Inc

9,396,281

13,362

\*,e

Goosehead

Insurance,

Inc

554,657

25,827

\*

Greenlight

Capital

Re

Ltd

(Class

A)

217,980

30,713

Hanover

Insurance

Group,

Inc

4,499,147

279,964

Hartford

Financial

Services

Group,

Inc

20,272,193

4,272

e

HCI

Group,

Inc

156,526

32,771

Horace

Mann

Educators

Corp

1,293,144

763

Investors

Title

Co

112,123

37,916

James

River

Group

Holdings

Ltd

958,137

48,650

Kemper

Corp

2,319,146

19,389

Kinsale

Capital

Group,

Inc

6,110,831

46,002

\*

Lemonade,

Inc

1,113,248

142,058

Lincoln

National

Corp

7,652,665

179,513

Loews

Corp

10,235,831

11,470

\*

Markel

Corp

13,833,967

425,251

Marsh

&

McLennan

Cos,

Inc

68,673,784

55,135

\*,e

MBIA,

Inc

593,253

22,360

Mercury

General

Corp

648,440

568,121

Metlife,

Inc

41,592,138

1,863

National

Western

Life

Group,

Inc

368,911

5,736

\*

NI

Holdings,

Inc

77,895

215,204

Old

Republic

International

Corp

4,994,885

94,573

\*

Oscar

Health,

Inc

352,757

20,068

\*

Palomar

Holdings,

Inc

1,785,249

30,196

Primerica,

Inc

4,369,361

208,860

Principal

Financial

Group

18,406,832

43,676

ProAssurance

Corp

970,044

498,590

Progressive

Corp

64,018,956

310,892

Prudential

Financial,

Inc

32,702,730

59,157

Reinsurance

Group

of

America,

Inc

(Class

A)

8,706,136

36,472

RenaissanceRe

Holdings

Ltd

5,641,489

32,620

RLI

Corp

4,242,883

12,919

\*,e

Root,

Inc

110,199

66,501

\*

Ryan

Specialty

Group

Holdings,

Inc

2,982,570

12,944

Safety

Insurance

Group,

Inc

1,125,481

47,969

Selective

Insurance

Group,

Inc

4,704,800

213,619

\*

Selectquote,

Inc

143,979

89,608

\*

SiriusPoint

Ltd

575,283

20,193

Stewart

Information

Services

Corp

786,719

14,139

Tiptree

Inc

172,213

201,638

Travelers

Cos,

Inc

37,194,146

29,700

\*,e

Trupanion,

Inc

1,498,959

12,876

United

Fire

Group

Inc

348,940

22,601

Universal

Insurance

Holdings,

Inc

226,914

157,217

Unum

Group

7,167,523

179,446

W.R.

Berkley

Corp

13,347,194

2,249

White

Mountains

Insurance

Group

Ltd

3,184,921

91,533

Willis

Towers

Watson

plc

19,973,416

TOTAL

INSURANCE

799,039,023

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS

-

.8

%

26,589

\*

5E

Advanced

Materials,

Inc

$

355,761

21,255

AdvanSix,

Inc

773,257

188,667

Air

Products

&

Chemicals,

Inc

47,242,217

100,368

Albemarle

Corp

28,089,992

148,084

Alcoa

Corp

5,779,719

97,921

\*

Allegheny

Technologies,

Inc

2,914,129

11,449

Alpha

Metallurgical

Resources,

Inc

1,933,164

1,222,730

Amcor

plc

14,159,213

22,290

American

Vanguard

Corp

518,688

162,683

\*,e

Amyris,

Inc

457,139

61,800

Aptargroup,

Inc

6,127,470

84,956

\*

Arconic

Corp

1,763,687

15,086

\*,†

Ardagh

Group

S.A.

167,455

130,309

e

Ardagh

Metal

Packaging

S.A.

578,572

43,921

Ashland

Global

Holdings,

Inc

4,608,191

16,317

\*

Aspen

Aerogels,

Inc

206,900

71,696

Avery

Dennison

Corp

12,156,057

73,245

Avient

Corp

2,526,220

178,749

\*

Axalta

Coating

Systems

Ltd

4,168,427

33,280

Balchem

Corp

4,652,544

252,083

Ball

Corp

12,450,379

104,859

\*

Berry

Global

Group,

Inc

4,961,928

45,828

Cabot

Corp

3,367,441

36,723

Carpenter

Technology

Corp

1,373,440

88,342

Celanese

Corp

(Series

A)

8,491,433

46,078

\*

Century

Aluminum

Co

332,222

164,830

CF

Industries

Holdings,

Inc

17,514,836

7,750

Chase

Corp

730,128

126,652

Chemours

Co

3,626,047

12,952

\*

Clearwater

Paper

Corp

576,105

417,570

\*

Cleveland-Cliffs,

Inc

5,424,234

191,386

\*

Coeur

Mining,

Inc

723,439

120,192

Commercial

Metals

Co

5,468,736

27,716

Compass

Minerals

International,

Inc

1,095,891

92,492

\*

Constellium

SE

1,019,262

609,696

Corteva,

Inc

39,837,537

96,943

Crown

Holdings,

Inc

6,649,320

77,919

\*,e

Danimer

Scientific,

Inc

204,148

58,188

\*

Diversey

Holdings

Ltd

314,215

616,230

Dow,

Inc

28,802,590

426,991

DuPont

de

Nemours,

Inc

24,423,885

31,619

Eagle

Materials,

Inc

3,867,320

104,315

Eastman

Chemical

Co

8,012,435

215,159

Ecolab,

Inc

33,795,024

187,571

Element

Solutions,

Inc

3,226,221

105,572

FMC

Corp

12,552,511

1,211,236

Freeport-McMoRan,

Inc

(Class

B)

38,384,069

24,364

FutureFuel

Corp

166,650

663,377

\*

Ginkgo

Bioworks

Holdings,

Inc

1,811,019

38,095

Glatfelter

Corp

107,809

246,554

Graphic

Packaging

Holding

Co

5,660,880

20,864

Greif,

Inc

(Class

A)

1,381,405

5,806

Greif,

Inc

(Class

B)

411,123

48,402

H.B.

Fuller

Co

3,374,103

14,948

Hawkins,

Inc

673,108

7,327

Haynes

International,

Inc

358,364

400,042

Hecla

Mining

Co

1,828,192

163,765

Huntsman

Corp

4,382,351

218,979

\*,e

Hycroft

Mining

Holding

Corp

151,008

30,978

\*

Ingevity

Corp

2,083,890

20,562

Innospec,

Inc

2,055,994

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

213,219

International

Flavors

&

Fragrances,

Inc

$

20,812,307

309,423

International

Paper

Co

10,399,707

7,382

\*

Intrepid

Potash,

Inc

334,036

12,024

Kaiser

Aluminum

Corp

971,419

14,958

Koppers

Holdings,

Inc

373,352

30,158

Kronos

Worldwide,

Inc

286,501

428,022

Linde

plc

127,272,342

144,842

\*,e

Livent

Corp

4,572,662

70,826

Louisiana-Pacific

Corp

4,012,293

25,581

\*

LSB

Industries,

Inc

450,993

220,056

LyondellBasell

Industries

NV

16,823,281

52,988

Martin

Marietta

Materials,

Inc

17,802,908

18,259

Materion

Corp

1,564,979

25,661

Minerals

Technologies,

Inc

1,411,612

285,839

Mosaic

Co

15,363,846

72,880

\*

MP

Materials

Corp

2,189,315

26,770

Myers

Industries,

Inc

543,163

5,513

NewMarket

Corp

1,677,826

671,570

Newmont

Goldcorp

Corp

28,420,842

181,575

\*

Novagold

Resources

Inc

840,692

222,147

Nucor

Corp

29,185,673

127,895

\*

O-I

Glass,

Inc

2,085,967

115,657

Olin

Corp

6,124,038

13,039

Olympic

Steel,

Inc

354,791

86,797

\*,e

Origin

Materials,

Inc

493,007

43,249

Orion

Engineered

Carbons

SA

690,254

81,274

Packaging

Corp

of

America

9,769,948

30,719

Pactiv

Evergreen,

Inc

335,144

97,982

\*,e

Perimeter

Solutions

S.A.

782,876

13,878

\*

Piedmont

Lithium,

Inc

863,489

200,335

PPG

Industries,

Inc

22,874,250

38,871

\*

PQ

Group

Holdings,

Inc

386,767

95,468

\*,e

PureCycle

Technologies,

Inc

789,520

10,380

Quaker

Chemical

Corp

1,688,203

19,231

Ramaco

Resources,

Inc

217,118

27,104

\*

Ranpak

Holdings

Corp

102,995

46,721

\*

Rayonier

Advanced

Materials,

Inc

212,581

49,957

Reliance

Steel

&

Aluminum

Co

10,065,336

7,180

\*

Resolute

Forest

Products

149,416

57,077

Royal

Gold,

Inc

5,420,032

109,080

RPM

International,

Inc

10,315,696

19,733

Ryerson

Holding

Corp

662,042

19,787

Schnitzer

Steel

Industries,

Inc

(Class

A)

534,051

45,399

Schweitzer-Mauduit

International,

Inc

1,077,772

31,523

e

Scotts

Miracle-Gro

Co

(Class

A)

1,447,221

119,781

Sealed

Air

Corp

5,703,971

47,514

Sensient

Technologies

Corp

3,395,350

200,713

Sherwin-Williams

Co

45,166,446

68,053

Silgan

Holdings,

Inc

3,222,990

90,286

Sonoco

Products

Co

5,604,955

87,914

Southern

Copper

Corp

4,129,321

170,870

SSR

Mining,

Inc

2,358,006

145,943

Steel

Dynamics,

Inc

13,725,939

17,131

Stepan

Co

1,789,162

90,890

\*

Summit

Materials,

Inc

2,394,952

64,626

SunCoke

Energy,

Inc

469,185

28,471

Sylvamo

Corp

1,371,448

34,451

\*

TimkenSteel

Corp

600,825

20,458

Tredegar

Corp

222,788

33,781

Trimas

Corp

771,896

76,591

e

Trinseo

plc

1,441,443

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

160,322

Tronox

Holdings

plc

$

1,923,864

834

United

States

Lime

&

Minerals,

Inc

105,209

215,308

United

States

Steel

Corp

4,383,671

6,816

Valhi,

Inc

186,213

156,869

Valvoline,

Inc

4,605,674

110,960

Vulcan

Materials

Co

18,164,152

56,275

Warrior

Met

Coal,

Inc

2,090,054

25,371

Westlake

Chemical

Corp

2,452,107

204,567

WestRock

Co

6,967,552

25,911

Worthington

Industries,

Inc

1,232,327

TOTAL

MATERIALS

928,081,257

MEDIA

&

ENTERTAINMENT

-

.7

%

656,282

Activision

Blizzard,

Inc

47,777,330

83,734

\*

Advantage

Solutions,

Inc

283,021

5,114,227

\*

Alphabet,

Inc

(Class

A)

483,345,594

4,592,667

\*

Alphabet,

Inc

(Class

C)

434,741,858

162,466

\*

Altice

USA,

Inc

1,073,900

502,192

\*,e

AMC

Entertainment

Holdings,

Inc

3,344,599

24,488

\*

AMC

Networks,

Inc

551,225

25,952

\*,e

Arena

Group

Holdings,

Inc

365,923

13,100

\*

Boston

Omaha

Corp

365,097

68,892

\*

Bumble,

Inc

1,749,857

4,801

Cable

One,

Inc

4,126,123

24,134

\*

Cardlytics,

Inc

227,584

75,371

\*

Cargurus,

Inc

1,097,402

52,392

\*

Cars.com,

Inc

727,201

94,547

\*

Charter

Communications,

Inc

34,757,368

85,356

\*

Cinemark

Holdings,

Inc

905,627

516,306

\*

Clear

Channel

738,318

3,732,486

Comcast

Corp

(Class

A)

118,469,106

36,992

\*,e

Cumulus

Media

Inc

272,631

\*

Daily

Journal

Corp

126,078

191,138

\*

DISH

Network

Corp

(Class

A)

2,849,868

237,210

Electronic

Arts,

Inc

29,878,972

159,055

\*

Entercom

Communications

Corp

54,969

41,363

Entravision

Communications

Corp

(Class

A)

193,579

56,607

\*

Eventbrite

Inc

371,908

14,689

\*

EverQuote

Inc

89,456

41,829

\*

EW

Scripps

Co

(Class

A)

593,554

252,942

Fox

Corp

(Class

A)

7,302,436

120,187

Fox

Corp

(Class

B)

3,269,086

224,696

\*,e

fuboTV,

Inc

822,387

103,352

\*

Gannett

Co,

Inc

149,860

72,446

Gray

Television,

Inc

1,025,111

59,501

\*

IAC

2,896,509

84,522

\*

iHeartMedia,

Inc

699,842

38,923

\*

Imax

Corp

495,490

25,945

\*

Integral

Ad

Science

Holding

Corp

218,457

322,522

Interpublic

Group

of

Cos,

Inc

9,607,930

32,721

John

Wiley

&

Sons,

Inc

(Class

A)

1,380,499

6,341

\*,e

Liberty

Braves

Group

(Class

A)

202,215

32,042

\*

Liberty

Braves

Group

(Class

C)

998,429

19,423

Liberty

Broadband

Corp

(Class

A)

1,657,170

103,945

\*

Liberty

Broadband

Corp

(Class

C)

8,776,076

18,720

\*

Liberty

Media

Group

(Class

A)

973,814

161,786

\*

Liberty

Media

Group

(Class

C)

9,339,906

60,840

Liberty

SiriusXM

Group

(Class

A)

2,582,050

147,113

\*

Liberty

SiriusXM

Group

(Class

C)

6,206,697

46,102

\*

Lions

Gate

Entertainment

Corp

(Class

A)

371,582

73,725

\*

Lions

Gate

Entertainment

Corp

(Class

B)

559,573

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

135,993

\*,e

Live

Nation,

Inc

$

10,826,403

14,125

Madison

Square

Garden

Co

2,212,116

20,032

\*

Madison

Square

Garden

Entertainment

Corp

982,169

96,667

\*

Magnite,

Inc

704,702

25,461

e

Marcus

Corp

382,933

242,691

\*

Match

Group,

Inc

10,484,251

15,622

\*

MediaAlpha,

Inc

171,530

1,957,881

\*

Meta

Platforms,

Inc

182,396,194

374,080

\*

Netflix,

Inc

109,186,470

160,818

New

York

Times

Co

(Class

A)

4,657,289

303,887

News

Corp

(Class

A)

5,126,574

98,394

News

Corp

(Class

B)

1,685,489

30,528

Nexstar

Media

Group

Inc

5,229,446

177,907

Omnicom

Group,

Inc

12,942,734

6,103

Paramount

Global

(Class

A)

128,651

501,136

e

Paramount

Global

(Class

B)

9,180,812

512,562

\*

Pinterest,

Inc

12,609,025

63,301

\*,e

Playstudios,

Inc

285,488

77,751

\*

Playtika

Holding

Corp

734,747

33,339

\*

PubMatic,

Inc

580,099

42,462

\*

QuinStreet,

Inc

484,491

383,165

\*

ROBLOX

Corp

17,142,802

96,357

\*

Roku,

Inc

5,351,668

23,182

Scholastic

Corp

884,161

38,405

Sinclair

Broadcast

Group,

Inc

(Class

A)

683,993

651,935

e

Sirius

XM

Holdings,

Inc

3,937,687

453,727

\*,e

Skillz,

Inc

467,339

122,402

\*

Spotify

Technology

S.A.

9,863,153

47,656

\*,e

Stagwell,

Inc

361,709

139,475

\*

Take-Two

Interactive

Software,

Inc

16,524,998

19,799

\*

TechTarget,

Inc

1,278,025

169,014

TEGNA,

Inc

3,529,012

20,321

\*

Thryv

Holdings,

Inc

415,768

75,518

\*

TripAdvisor,

Inc

1,783,735

88,583

\*

TrueCar,

Inc

159,449

109,885

\*

Vimeo,

Inc

417,563

1,549,759

\*

Walt

Disney

Co

165,111,324

1,967,697

\*

Warner

Bros

Discovery,

Inc

25,580,061

40,981

\*

WideOpenWest,

Inc

561,850

35,350

World

Wrestling

Entertainment,

Inc

(Class

A)

2,788,762

58,093

\*

Yelp,

Inc

2,231,352

37,703

\*

Ziff

Davis

Inc

2,917,835

63,777

\*

ZipRecruiter,

Inc

1,069,540

244,769

\*

ZoomInfo

Technologies,

Inc

10,899,564

TOTAL

MEDIA

&

ENTERTAINMENT

1,873,566,230

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.7

%

86,165

\*

10X

Genomics,

Inc

2,341,965

16,553

\*

2seventy

bio,

Inc

262,862

66,812

\*,e

4D

Molecular

Therapeutics,

Inc

578,592

1,509,634

AbbVie,

Inc

221,010,418

165,439

\*,e

AbCellera

Biologics,

Inc

1,957,143

61,628

\*,e

Absci

Corp

194,744

91,291

\*

Acadia

Pharmaceuticals,

Inc

1,463,395

45,788

\*

Aclaris

Therapeutics,

Inc

714,751

110,987

\*,e

Adagio

Therapeutics,

Inc

438,399

122,580

\*

Adaptive

Biotechnologies

Corp

953,672

15,761

\*,e

Adicet

Bio,

Inc

259,899

148,995

\*,e

ADMA

Biologics,

Inc

420,166

33,134

\*

Aerie

Pharmaceuticals,

Inc

504,299

24,470

\*

Aerovate

Therapeutics,

Inc

477,410

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

87,570

\*

Affimed

NV

$

154,123

147,964

\*

Agenus,

Inc

371,390

253,761

Agilent

Technologies,

Inc

35,107,834

43,567

\*

Agios

Pharmaceuticals,

Inc

1,199,835

30,198

\*

Akero

Therapeutics,

Inc

1,276,167

7,525

\*,e

Akoya

Biosciences,

Inc

103,469

68,511

\*,e

Albireo

Pharma,

Inc

1,405,846

43,454

\*

Alector,

Inc

399,777

134,539

\*

Alkermes

plc

3,054,035

51,492

\*,e

Allogene

Therapeutics,

Inc

530,368

96,478

\*,e

Allovir,

Inc

668,593

103,337

\*

Alnylam

Pharmaceuticals,

Inc

21,417,627

57,930

\*,e

ALX

Oncology

Holdings,

Inc

703,270

458,218

Amgen,

Inc

123,879,236

186,529

\*

Amicus

Therapeutics,

Inc

1,865,290

90,760

\*

Amneal

Pharmaceuticals,

Inc

199,672

29,714

\*

Amphastar

Pharmaceuticals,

Inc

918,163

14,602

\*

Amylyx

Pharmaceuticals,

Inc

520,853

15,851

\*,e

AnaptysBio,

Inc

457,301

46,837

\*,e

Anavex

Life

Sciences

Corp

570,006

17,279

\*

ANI

Pharmaceuticals,

Inc

666,797

11,269

\*

Anika

Therapeutics,

Inc

320,265

72,811

\*

Apellis

Pharmaceuticals,

Inc

4,404,337

65,091

\*,e

Arbutus

Biopharma

Corp

152,313

24,352

\*

Arcellx,

Inc

571,785

34,556

\*

Arcturus

Therapeutics

Holdings,

Inc

611,641

34,341

\*

Arcus

Biosciences,

Inc

875,009

31,261

\*

Arcutis

Biotherapeutics,

Inc

552,694

78,352

\*

Arrowhead

Pharmaceuticals

Inc

2,727,433

35,794

\*

Arvinas,

Inc

1,779,320

62,354

\*

Atara

Biotherapeutics,

Inc

290,570

48,745

\*

Atea

Pharmaceuticals,

Inc

292,470

25,454

\*,e

Athira

Pharma,

Inc

84,253

22,728

\*

Aura

Biosciences,

Inc

281,600

107,175

\*,e

Aurinia

Pharmaceuticals,

Inc

871,333

521,895

\*

Avantor,

Inc

10,526,622

46,688

\*,e

Avid

Bioservices,

Inc

790,895

22,820

\*,e

Avidity

Biosciences,

Inc

325,870

21,552

\*,e

Axsome

Therapeutics,

Inc

973,073

50,764

\*

Beam

Therapeutics,

Inc

2,236,662

89,988

\*

Berkeley

Lights,

Inc

199,773

136,958

\*

BioCryst

Pharmaceuticals,

Inc

1,828,389

125,431

\*

Biogen,

Inc

35,552,163

27,842

\*

Biohaven

Ltd

461,342

159,531

\*

BioMarin

Pharmaceutical,

Inc

13,820,171

259,489

\*,e

Bionano

Genomics,

Inc

607,204

16,807

\*

Bio-Rad

Laboratories,

Inc

(Class

A)

5,911,190

33,597

Bio-Techne

Corp

9,953,447

37,775

\*,e

Bioxcel

Therapeutics

Inc

475,587

121,003

\*,e

Bluebird

Bio,

Inc

758,689

44,489

\*

Blueprint

Medicines

Corp

2,306,310

116,026

\*,e

Bridgebio

Pharma,

Inc

1,210,151

1,810,467

Bristol-Myers

Squibb

Co

140,256,879

58,078

Brooks

Automation,

Inc

2,578,663

87,617

Bruker

BioSciences

Corp

5,418,235

25,944

\*

C4

Therapeutics,

Inc

249,581

32,865

\*,e

Cara

Therapeutics,

Inc

308,931

37,486

\*

CareDx,

Inc

746,346

38,668

\*,e

Caribou

Biosciences,

Inc

376,626

32,926

\*,e

Cassava

Sciences,

Inc

1,199,823

146,261

\*

Catalent,

Inc

9,613,736

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

76,486

\*

Catalyst

Pharmaceuticals,

Inc

$

1,060,861

34,148

\*

Celldex

Therapeutics,

Inc

1,199,619

79,366

\*

Celularity,

Inc

184,923

33,150

\*,e

Century

Therapeutics,

Inc

348,075

44,803

\*

Cerevel

Therapeutics

Holdings,

Inc

1,252,692

39,460

\*

Charles

River

Laboratories

International,

Inc

8,375,385

55,373

\*

Chimerix,

Inc

98,010

26,874

\*

Chinook

Therapeutics,

Inc

584,510

16,873

\*

CinCor

Pharma,

Inc

567,608

45,404

\*

Codexis,

Inc

255,170

90,032

\*

Cogent

Biosciences,

Inc

1,228,937

45,593

\*

Coherus

Biosciences,

Inc

396,659

28,144

\*

Collegium

Pharmaceutical,

Inc

504,903

75,382

\*

Corcept

Therapeutics,

Inc

2,155,925

35,186

\*

Crinetics

Pharmaceuticals,

Inc

649,534

74,159

\*

CTI

BioPharma

Corp

363,379

19,518

\*,e

Cullinan

Oncology,

Inc

256,467

96,552

\*

Cytek

Biosciences,

Inc

1,498,487

71,559

\*

Cytokinetics,

Inc

3,124,266

551,286

Danaher

Corp

138,742,148

7,921

\*

Day

One

Biopharmaceuticals,

Inc

167,450

29,585

\*

Deciphera

Pharmaceuticals,

Inc

479,869

70,219

\*

Denali

Therapeutics,

Inc

2,013,881

20,792

\*,e

Design

Therapeutics,

Inc

324,771

36,216

\*

DICE

Therapeutics,

Inc

1,286,030

107,115

\*

Dynavax

Technologies

Corp

1,226,467

74,820

\*

Dyne

Therapeutics,

Inc

852,948

11,214

\*

Eagle

Pharmaceuticals,

Inc

352,905

24,594

\*,e

Edgewise

Therapeutics,

Inc

233,889

78,583

\*,e

Editas

Medicine,

Inc

986,217

19,133

\*

Eiger

BioPharmaceuticals,

Inc

97,770

346,616

\*

Elanco

Animal

Health,

Inc

4,571,865

716,790

Eli

Lilly

&

Co

259,542,491

37,040

\*

Emergent

Biosolutions,

Inc

772,654

17,038

\*

Enanta

Pharmaceuticals,

Inc

768,584

93,458

\*

Enochian

Biosciences

Inc

189,720

315,159

\*,e

EQRx,

Inc

1,619,917

61,360

\*,e

Erasca,

Inc

501,311

64,431

\*,e

Esperion

Thereapeutics,

Inc

523,824

22,516

\*

Evolus,

Inc

192,737

136,970

\*

Exact

Sciences

Corp

4,763,817

269,882

\*

Exelixis,

Inc

4,474,644

15,681

\*,e

EyePoint

Pharmaceuticals,

Inc

84,677

61,787

\*

Fate

Therapeutics,

Inc

1,292,584

65,218

\*

FibroGen,

Inc

1,061,749

14,735

\*

Foghorn

Therapeutics,

Inc

128,784

41,192

\*,e

Fulcrum

Therapeutics,

Inc

229,028

78,489

\*

Generation

Bio

Co

401,864

274,233

\*,e

Geron

Corp

608,797

1,064,670

Gilead

Sciences,

Inc

83,534,008

43,062

\*,e

Gossamer

Bio,

Inc

477,988

108,478

\*

Halozyme

Therapeutics,

Inc

5,186,333

23,390

\*

Harmony

Biosciences

Holdings,

Inc

1,216,280

69,386

\*,e

Heron

Therapeutics,

Inc

267,136

192,195

\*

Horizon

Therapeutics

Plc

11,977,592

10,184

\*

Icosavax,

Inc

34,931

22,147

\*

Ideaya

Biosciences,

Inc

374,063

22,092

\*,e

IGM

Biosciences,

Inc

441,840

131,603

\*

Illumina,

Inc

30,113,398

26,816

\*,e

Imago

Biosciences,

Inc

455,872

90,801

\*,e

ImmunityBio,

Inc

499,406

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

145,304

\*

Immunogen,

Inc

$

863,106

30,492

\*

Immunovant,

Inc

341,510

153,387

\*

Incyte

Corp

11,402,790

20,944

\*

Inhibrx,

Inc

673,978

51,012

\*

Innoviva,

Inc

691,723

22,673

\*,e

Inotiv,

Inc

471,145

330,548

\*,e

Inovio

Pharmaceuticals,

Inc

713,984

88,860

\*

Insmed,

Inc

1,539,055

48,473

\*,e

Instil

Bio,

Inc

159,961

63,411

\*

Intellia

Therapeutics,

Inc

3,346,833

21,877

\*

Intercept

Pharmaceuticals,

Inc

303,434

73,351

\*

Intra-Cellular

Therapies,

Inc

3,349,940

132,022

\*

Ionis

Pharmaceuticals,

Inc

5,835,372

111,258

\*

Iovance

Biotherapeutics,

Inc

1,039,150

158,154

\*

IQVIA

Holdings,

Inc

33,160,149

119,898

\*

Ironwood

Pharmaceuticals,

Inc

1,311,684

15,278

\*

iTeos

Therapeutics,

Inc

297,615

94,544

\*

IVERIC

bio,

Inc

2,261,492

25,000

\*,e

Janux

Therapeutics,

Inc

452,000

49,076

\*

Jazz

Pharmaceuticals

plc

7,056,638

2,234,589

Johnson

&

Johnson

388,751,448

27,101

\*

Jounce

Therapeutics,

Inc

59,080

17,147

\*

KalVista

Pharmaceuticals

Inc

86,935

25,178

\*

Karuna

Therapeutics,

Inc

5,522,543

57,823

\*

Karyopharm

Therapeutics,

Inc

275,237

11,863

\*

Keros

Therapeutics,

Inc

597,183

36,515

\*

Kezar

Life

Sciences,

Inc

274,410

21,846

\*

Kiniksa

Pharmaceuticals

Ltd

249,481

41,137

\*,e

Kinnate

Biopharma,

Inc

346,785

27,348

\*

Kodiak

Sciences,

Inc

196,359

113,786

\*

Kronos

Bio,

Inc

336,807

13,379

\*

Krystal

Biotech

Inc

1,023,494

47,680

\*

Kura

Oncology,

Inc

739,994

25,415

\*

Kymera

Therapeutics,

Inc

771,091

56,936

\*

Lexicon

Pharmaceuticals,

Inc

122,412

11,370

\*

Ligand

Pharmaceuticals,

Inc

(Class

B)

996,581

63,830

\*,e

Liquidia

Corp

312,129

126,735

\*,e

Lyell

Immunopharma,

Inc

745,202

82,299

\*

MacroGenics,

Inc

421,371

8,601

\*

Madrigal

Pharmaceuticals,

Inc

609,123

186,883

\*,e

MannKind

Corp

631,665

87,401

\*

Maravai

LifeSciences

Holdings,

Inc

1,450,857

71,270

\*,e

MaxCyte,

Inc

493,188

22,342

\*

Medpace

Holdings,

Inc

4,959,477

22,599

\*

MeiraGTx

Holdings

plc

164,295

2,151,268

Merck

&

Co,

Inc

217,708,322

124,404

\*

Mersana

Therapeutics,

Inc

977,815

19,253

\*

Mettler-Toledo

International,

Inc

24,353,697

83,879

\*,e

MiMedx

Group,

Inc

248,282

32,538

\*

Mirati

Therapeutics,

Inc

2,190,458

47,413

\*

Mirum

Pharmaceuticals,

Inc

1,069,163

286,770

\*

Moderna,

Inc

43,110,134

32,298

\*

Monte

Rosa

Therapeutics,

Inc

297,142

15,639

\*

Morphic

Holding,

Inc

438,048

65,991

\*

Myriad

Genetics,

Inc

1,368,653

34,387

\*

NanoString

Technologies,

Inc

359,688

64,906

\*

Natera,

Inc

3,047,986

100,000

\*,e

Nautilus

Biotechnology,

Inc

247,000

135,344

\*

Nektar

Therapeutics

508,893

103,711

\*

NeoGenomics,

Inc

788,722

84,777

\*

Neurocrine

Biosciences,

Inc

9,759,528

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

22,655

\*

NGM

Biopharmaceuticals

Inc

$

120,978

35,412

\*

Nkarta,

Inc

446,545

62,783

\*,e

Novavax,

Inc

1,398,177

23,712

\*

Nurix

Therapeutics,

Inc

301,854

165,406

\*,e

Nuvation

Bio,

Inc

363,893

266,779

\*,e

Ocugen,

Inc

458,860

56,023

\*

Ocular

Therapeutix,

Inc

202,243

67,101

\*

Organogenesis

Holdings

Inc

220,091

238,231

Organon

&

Co

6,236,888

321,694

\*,e

Outlook

Therapeutics,

Inc

373,165

215,209

\*,e

Pacific

Biosciences

of

California,

Inc

1,816,364

33,811

\*

Pacira

BioSciences

Inc

1,750,057

61,856

\*

Pardes

Biosciences,

Inc

74,227

103,917

PerkinElmer,

Inc

13,881,233

103,541

Perrigo

Co

plc

4,170,632

4,807,904

Pfizer,

Inc

223,807,931

54,910

\*,e

Phathom

Pharmaceuticals,

Inc

582,046

15,634

Phibro

Animal

Health

Corp

229,663

19,770

\*,e

PMV

Pharmaceuticals,

Inc

243,369

59,198

\*,e

Point

Biopharma

Global,

Inc

552,317

76,092

\*

Praxis

Precision

Medicines,

Inc

149,901

303,574

\*,e

Precigen,

Inc

491,790

40,272

\*

Prestige

Consumer

Healthcare,

Inc.

2,194,019

25,152

\*

Prometheus

Biosciences,

Inc

1,320,983

39,449

\*

Protagonist

Therapeutics,

Inc

319,537

26,368

\*

Prothena

Corp

plc

1,620,050

42,697

\*,e

Provention

Bio,

Inc

296,317

52,242

\*

PTC

Therapeutics,

Inc

1,975,792

203,644

\*

QIAGEN

NV

8,870,733

23,244

\*

Quanterix

Corp

257,311

107,914

\*,e

Quantum-Si,

Inc

326,979

30,556

\*

RAPT

Therapeutics,

Inc

666,732

20,751

\*,e

Reata

Pharmaceuticals,

Inc

668,182

121,319

\*,e

Recursion

Pharmaceuticals,

Inc

1,279,915

87,915

\*

Regeneron

Pharmaceuticals,

Inc

65,826,356

28,339

\*

REGENXBIO,

Inc

670,784

53,837

\*

Relay

Therapeutics,

Inc

1,196,258

22,557

\*,e

Relmada

Therapeutics,

Inc

144,139

45,630

\*

Repligen

Corp

8,327,019

37,281

\*

Replimune

Group,

Inc

684,479

53,146

\*

Revance

Therapeutics,

Inc

1,185,687

44,805

\*

REVOLUTION

Medicines,

Inc

907,749

920,303

\*

Rigel

Pharmaceuticals,

Inc

670,533

55,762

\*

Rocket

Pharmaceuticals,

Inc

1,040,519

317,312

Royalty

Pharma

plc

13,428,644

40,249

\*

Sage

Therapeutics,

Inc

1,515,777

105,792

\*,e

Sana

Biotechnology,

Inc

613,594

90,778

\*

Sangamo

Therapeutics

Inc

398,515

71,409

\*

Sarepta

Therapeutics,

Inc

8,142,054

92,308

\*

Science

Holdings,

Inc

133,847

114,700

\*

Seagen,

Inc

14,585,252

72,449

\*

Seer,

Inc

567,276

52,476

\*

Seres

Therapeutics,

Inc

464,937

48,122

SIGA

Technologies,

Inc

442,241

120,397

\*,e

Singular

Genomics

Systems,

Inc

320,256

119,517

\*,e

SomaLogic,

Inc

414,724

427,603

\*,e

Sorrento

Therapeutics,

Inc

671,337

75,271

\*

Sotera

Health

Co

517,864

22,026

\*

SpringWorks

Therapeutics,

Inc

528,844

14,271

\*

Stoke

Therapeutics,

Inc

211,924

35,959

\*

Supernus

Pharmaceuticals,

Inc

1,232,315

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

109,276

\*

Sutro

Biopharma,

Inc

$

800,993

33,941

\*

Syndax

Pharmaceuticals,

Inc

779,285

79,102

\*

Syneos

Health,

Inc

3,985,159

8,236

\*

Tarsus

Pharmaceuticals,

Inc

151,707

10,273

\*

Tenaya

Therapeutics,

Inc

27,532

240,722

\*

TG

Therapeutics,

Inc

1,401,002

39,475

\*

Theravance

Biopharma,

Inc

393,566

332,751

Thermo

Fisher

Scientific,

Inc

171,024,031

45,002

\*

Travere

Therapeutics,

Inc

975,643

42,685

\*

Twist

Bioscience

Corp

1,401,349

53,807

\*

Ultragenyx

Pharmaceutical,

Inc

2,177,031

40,660

\*

United

Therapeutics

Corp

9,373,350

43,796

\*

Vanda

Pharmaceuticals,

Inc

458,544

182,003

\*,e

Vaxart

Inc

303,945

44,760

\*

Vaxcyte,

Inc

1,951,984

154,475

\*,e

VBI

Vaccines,

Inc

111,237

22,011

\*

Ventyx

Biosciences,

Inc

712,496

20,906

\*

Vera

Therapeutics,

Inc

389,688

51,135

\*

Veracyte,

Inc

1,028,325

35,482

\*

Vericel

Corp

953,756

217,227

\*

Vertex

Pharmaceuticals,

Inc

67,774,824

31,666

\*,e

Verve

Therapeutics,

Inc

1,193,808

1,067,749

Viatris,

Inc

10,816,297

57,898

\*

Vir

Biotechnology,

Inc

1,272,598

21,853

\*

Viridian

Therapeutics,

Inc

434,875

144,499

\*

VistaGen

Therapeutics,

Inc

19,161

51,146

\*

Waters

Corp

15,301,349

63,426

West

Pharmaceutical

Services,

Inc

14,594,323

43,711

\*

Xencor,

Inc

1,223,908

164,836

\*,e

Xeris

Biopharma

Holdings,

Inc

263,738

26,589

\*,e

Y-mAbs

Therapeutics,

Inc

95,986

30,704

\*

Zentalis

Pharmaceuticals,

Inc

770,363

405,729

Zoetis,

Inc

61,175,819

43,843

\*,†

Zogenix,

Inc

29,813

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

2,844,487,817

REAL

ESTATE

-

.2

%

70,210

Acadia

Realty

Trust

980,834

72,510

Agree

Realty

Corp

4,981,437

59,342

Alexander

&

Baldwin,

Inc

1,155,982

2,420

Alexander's,

Inc

568,434

131,279

Alexandria

Real

Estate

Equities,

Inc

19,074,839

43,740

American

Assets

Trust,

Inc

1,201,975

115,651

American

Finance

Trust,

Inc

791,053

244,508

American

Homes

Rent

7,809,586

395,738

American

Tower

Corp

81,992,956

237,549

Americold

Realty

Trust

5,760,563

143,763

Apartment

Income

REIT

Corp

5,524,812

238,865

Apartment

Investment

and

Management

Co

1,896,588

229,668

Apple

Hospitality

REIT,

Inc

3,931,916

52,819

Armada

Hoffler

Properties,

Inc

617,454

73,661

\*

Ashford

Hospitality

Trust,

Inc

598,127

112,539

AvalonBay

Communities,

Inc

19,707,830

2,852

\*

Bluerock

Homes

Trust,

Inc

72,156

126,257

Boston

Properties,

Inc

9,178,884

33,815

BraeMar

Hotels

&

Resorts,

Inc

166,708

127,223

Brandywine

Realty

Trust

834,583

250,617

Brixmor

Property

Group,

Inc

5,340,648

135,609

Broadstone

Net

Lease,

Inc

2,324,338

16,295

Brt

Realty

Trust

361,097

83,612

Camden

Property

Trust

9,661,367

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE—continued

81,949

CareTrust

REIT,

Inc

$

1,530,807

21,304

CBL

&

Associates

Properties,

Inc

612,064

272,621

\*

CBRE

Group,

Inc

19,339,734

22,358

Centerspace

1,549,409

44,654

\*

Chatham

Lodging

Trust

579,162

47,291

City

Office

REIT,

Inc

502,230

8,392

Clipper

Realty,

Inc

59,499

21,853

Community

Healthcare

Trust,

Inc

756,114

212,049

\*,e

Compass,

Inc

559,809

121,800

Corporate

Office

Properties

Trust

3,245,970

118,941

Cousins

Properties,

Inc

2,826,038

368,420

Crown

Castle

International

Corp

49,095,649

22,347

CTO

Realty

Growth,

Inc

449,175

180,318

CubeSmart

7,549,915

136,442

\*

Cushman

&

Wakefield

plc

1,575,905

162,943

DiamondRock

Hospitality

Co

1,521,888

237,169

Digital

Realty

Trust,

Inc

23,776,192

118,817

DigitalBridge

Group,

Inc

1,520,858

177,635

Diversified

Healthcare

Trust

241,584

53,964

Douglas

Elliman,

Inc

249,314

127,377

Douglas

Emmett,

Inc

2,240,561

100,932

Easterly

Government

Properties,

Inc

1,755,208

32,530

EastGroup

Properties,

Inc

5,097,126

110,377

Empire

State

Realty

Trust,

Inc

813,479

86,419

EPR

Properties

3,335,773

76,848

Equinix,

Inc

43,529,781

88,125

Equity

Commonwealth

2,305,350

143,366

Equity

Lifestyle

Properties,

Inc

9,169,689

301,740

Equity

Residential

19,015,655

115,336

Essential

Properties

Realty

Trust,

Inc

2,482,031

54,640

Essex

Property

Trust,

Inc

12,143,194

54,311

e

eXp

World

Holdings

Inc

717,448

111,722

Extra

Space

Storage,

Inc

19,823,952

21,817

Farmland

Partners,

Inc

305,656

63,585

Federal

Realty

Investment

Trust

6,293,643

106,640

First

Industrial

Realty

Trust,

Inc

5,079,263

23,804

\*

Forestar

Group,

Inc

275,650

103,027

Four

Corners

Property

Trust,

Inc

2,639,552

85,813

Franklin

Street

Properties

Corp

247,141

6,315

\*

FRP

Holdings,

Inc

382,878

210,728

Gaming

and

Leisure

Properties,

Inc

10,561,687

41,861

Getty

Realty

Corp

1,318,203

38,328

Gladstone

Commercial

Corp

674,190

23,351

Gladstone

Land

Corp

475,193

56,370

Global

Medical

REIT,

Inc

515,222

106,886

Global

Net

Lease,

Inc

1,309,354

330,513

Healthcare

Realty

Trust,

Inc

6,719,329

435,131

Healthpeak

Properties

Inc

10,325,659

41,958

Hersha

Hospitality

Trust

383,916

107,642

Highwoods

Properties,

Inc

3,038,734

627,398

Host

Hotels

and

Resorts,

Inc

11,845,274

33,686

\*

Howard

Hughes

Corp

2,066,636

177,409

Hudson

Pacific

Properties

1,958,595

166,086

Independence

Realty

Trust,

Inc

2,783,601

3,478

Indus

Realty

Trust,

Inc

180,126

53,373

Industrial

Logistics

Properties

Trust

249,786

22,080

Innovative

Industrial

Properties,

Inc

2,386,848

53,732

InvenTrust

Properties

Corp

1,354,046

491,312

Invitation

Homes,

Inc

15,569,677

252,602

Iron

Mountain,

Inc

12,647,782

58,158

iStar

Inc

609,496

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE—continued

93,983

JBG

SMITH

Properties

$

1,849,585

40,129

\*

Jones

Lang

LaSalle,

Inc

6,384,123

101,518

Kennedy-Wilson

Holdings,

Inc

1,686,214

88,635

Kilroy

Realty

Corp

3,788,260

483,468

Kimco

Realty

Corp

10,336,546

172,019

Kite

Realty

Group

Trust

3,378,453

79,369

Lamar

Advertising

Co

7,320,203

303,970

Lexington

Realty

Trust

2,942,430

67,843

Life

Storage,

Inc

7,504,114

57,634

LTC

Properties,

Inc

2,228,707

216,644

Macerich

Co

2,411,248

78,051

\*

Mack-Cali

Realty

Corp

1,235,547

21,606

Marcus

&

Millichap,

Inc

795,965

518,068

Medical

Properties

Trust,

Inc

5,931,879

92,524

Mid-America

Apartment

Communities,

Inc

14,567,904

37,480

National

Health

Investors,

Inc

2,125,116

145,473

National

Retail

Properties,

Inc

6,114,230

65,528

National

Storage

Affiliates

Trust

2,795,425

29,806

NETSTREIT

Corp

560,949

142,665

Newmark

Group,

Inc

1,168,426

18,594

NexPoint

Residential

Trust,

Inc

847,886

44,187

Office

Properties

Income

Trust

676,061

220,547

Omega

Healthcare

Investors,

Inc

7,008,984

17,852

One

Liberty

Properties,

Inc

402,384

410,827

\*,e

Opendoor

Technologies,

Inc

1,064,042

39,959

Orion

Office

REIT,

Inc

374,416

137,052

Outfront

Media,

Inc

2,473,789

265,481

Paramount

Group,

Inc

1,717,662

185,936

Park

Hotels

&

Resorts,

Inc

2,432,043

104,427

Pebblebrook

Hotel

Trust

1,675,009

89,700

Phillips

Edison

&

Co,

Inc

2,703,558

234,666

Physicians

Realty

Trust

3,534,070

103,397

Piedmont

Office

Realty

Trust,

Inc

1,080,499

23,260

Plymouth

Industrial

REIT,

Inc

428,914

15,840

Postal

Realty

Trust,

Inc

248,371

66,779

PotlatchDeltic

Corp

2,970,998

788,618

Prologis,

Inc

87,339,444

133,623

Public

Storage,

Inc

41,389,724

128,106

Rayonier,

Inc

4,317,172

11,250

Re/Max

Holdings,

Inc

218,925

99,115

\*

Realogy

Holdings

Corp

736,424

528,088

Realty

Income

Corp

32,884,040

115,127

\*,e

Redfin

Corp

553,761

154,727

Regency

Centers

Corp

9,362,531

97,039

Retail

Opportunities

Investment

Corp

1,405,125

133,534

Rexford

Industrial

Realty,

Inc

7,381,760

212,224

RLJ

Lodging

Trust

2,582,766

12,116

RMR

Group,

Inc

331,615

78,490

RPT

Realty

729,957

42,014

Ryman

Hospitality

Properties

3,735,885

217,481

Sabra

Healthcare

REIT,

Inc

2,970,790

14,934

Safehold,

Inc

436,820

10,022

Saul

Centers,

Inc

410,401

90,398

SBA

Communications

Corp

24,398,420

155,385

Service

Properties

Trust

1,260,172

272,665

Simon

Property

Group,

Inc

29,715,032

156,772

SITE

Centers

Corp

1,940,837

73,780

SL

Green

Realty

Corp

2,927,590

126,072

Spirit

Realty

Capital,

Inc

4,895,376

29,663

e

St.

Joe

Co

1,053,926

137,773

STAG

Industrial,

Inc

4,352,249

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE—continued

204,963

STORE

Capital

Corp

$

6,517,823

96,563

Summit

Hotel

Properties,

Inc

834,304

96,640

Sun

Communities,

Inc

13,031,904

164,654

Sunstone

Hotel

Investors,

Inc

1,835,892

108,433

Tanger

Factory

Outlet

Centers,

Inc

1,952,878

24,087

\*

Tejon

Ranch

Co

408,034

58,918

Terreno

Realty

Corp

3,366,575

255,856

UDR,

Inc

10,172,835

38,434

UMH

Properties,

Inc

674,132

188,207

Uniti

Group,

Inc

1,460,486

10,411

Universal

Health

Realty

Income

Trust

506,703

86,312

Urban

Edge

Properties

1,218,725

26,203

Urstadt

Biddle

Properties,

Inc

(Class

A)

491,044

321,598

Ventas,

Inc

12,584,130

821,869

VICI

Properties,

Inc

26,316,245

167,834

Vornado

Realty

Trust

3,959,204

69,477

Washington

REIT

1,326,316

393,657

Welltower,

Inc

24,028,823

104,275

\*,e

WeWork,

Inc

267,987

644,505

Weyerhaeuser

Co

19,934,540

32,454

Whitestone

REIT

305,392

163,253

WP

Carey,

Inc

12,456,204

95,278

Xenia

Hotels

&

Resorts,

Inc

1,627,348

45,669

\*

Zillow

Group,

Inc

(Class

A)

1,412,542

131,934

\*

Zillow

Group,

Inc

(Class

C)

4,071,483

TOTAL

REAL

ESTATE

1,059,558,168

RETAILING

-

.4

%

20,109

\*

1-800-FLOWERS.COM,

Inc

(Class

A)

146,595

25,901

Aaron's

Co,

Inc

269,888

48,946

\*

Abercrombie

&

Fitch

Co

(Class

A)

860,471

59,768

Academy

Sports

&

Outdoors,

Inc

2,631,585

50,551

Advance

Auto

Parts,

Inc

9,600,646

7,559,263

\*

Amazon.com,

Inc

774,370,902

156,421

American

Eagle

Outfitters,

Inc

1,776,943

4,579

\*

America's

Car-Mart,

Inc

313,020

91,405

Arko

Corp

936,901

17,853

\*

Asbury

Automotive

Group,

Inc

2,816,311

32,010

\*

Autonation,

Inc

3,402,983

16,441

\*

AutoZone,

Inc

41,643,080

202,703

\*,e

BARK,

Inc

370,946

190,066

Bath

&

Body

Works,

Inc

6,344,403

77,556

\*,e

Bed

Bath

&

Beyond,

Inc

354,431

175,667

Best

Buy

Co,

Inc

12,017,379

16,018

e

Big

Sporting

Goods

Corp

206,472

26,843

e

Big

Lots,

Inc

506,527

22,700

\*

Boot

Barn

Holdings,

Inc

1,289,360

22,567

Buckle,

Inc

887,560

16,988

Build-A-Bear

Workshop,

Inc

298,819

51,643

\*

Burlington

Stores,

Inc

7,382,883

28,050

Caleres,

Inc

766,606

32,088

Camping

World

Holdings,

Inc

893,009

129,233

\*

CarMax,

Inc

8,142,971

35,828

\*

CarParts.com,

Inc

167,675

88,669

\*,e

Carvana

Co

1,199,692

26,548

Cato

Corp

(Class

A)

316,187

105,197

\*

Chico's

FAS,

Inc

618,558

10,763

\*

Children's

Place,

Inc

435,686

26,944

\*

Citi

Trends,

Inc

609,204

13,492

\*,e

Conn's,

Inc

110,769

24,197

\*

Container

Store

Group,

Inc

131,390

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

454,948

\*,e

ContextLogic,

Inc

$

356,224

45,743

Designer

Brands,

Inc

696,666

77,320

\*

Destination

XL

Group,

Inc

516,498

48,883

e

Dick's

Sporting

Goods,

Inc

5,560,930

3,448

e

Dillard's,

Inc

(Class

A)

1,133,668

193,346

Dollar

General

Corp

49,312,897

180,209

\*

Dollar

Tree,

Inc

28,563,126

214,229

\*

DoorDash,

Inc

9,325,388

9,258

\*

Duluth

Holdings,

Inc

80,545

472,525

eBay,

Inc

18,825,396

107,493

\*

Etsy,

Inc

10,094,668

54,594

\*,e

EVgo,

Inc

404,542

131,005

\*,e

Express

Parent

LLC

159,826

42,825

\*

Five

Below,

Inc

6,267,439

79,123

\*

Floor

&

Decor

Holdings,

Inc

5,805,255

92,863

Foot

Locker,

Inc

2,943,757

21,367

Franchise

Group,

Inc

648,488

16,819

\*,e

Funko,

Inc

347,312

222,452

\*,e

GameStop

Corp

(Class

A)

6,297,616

171,695

e

Gap,

Inc

1,935,003

11,254

\*

Genesco,

Inc

529,388

116,055

Genuine

Parts

Co

20,641,542

13,357

Group

Automotive,

Inc

2,310,761

18,048

\*,e

Groupon,

Inc

133,014

117,712

\*,e

GrowGeneration

Corp

420,232

40,172

e

Guess?,

Inc

682,121

12,488

e

Haverty

Furniture

Cos,

Inc

331,931

12,350

Hibbett

Sports,

Inc

770,887

878,282

Home

Depot,

Inc

260,085,649

26,535

JOANN,

Inc

140,370

138,263

Kohl's

Corp

4,140,977

11,048

\*

Lands'

End,

Inc

115,783

123,760

\*,e

Leslie's,

Inc

1,737,590

21,175

\*

Liquidity

Services,

Inc

363,786

26,379

Lithia

Motors,

Inc

(Class

A)

5,226,999

223,116

LKQ

Corp

12,414,174

545,377

Lowe's

Companies,

Inc

106,321,246

23,238

\*

Lumber

Liquidators,

Inc

193,340

243,089

Macy's,

Inc

5,068,406

15,369

\*

MarineMax,

Inc

496,572

25,760

Monro

Muffler,

Inc

1,230,040

18,977

e

Murphy

USA,

Inc

5,968,456

62,250

\*

National

Vision

Holdings,

Inc

2,305,740

88,988

e

Nordstrom,

Inc

1,810,016

36,954

\*

ODP

Corp

1,462,270

50,189

\*,e

Ollie's

Bargain

Outlet

Holdings,

Inc

2,810,584

7,760

\*

OneWater

Marine,

Inc

256,080

53,321

\*

O'Reilly

Automotive,

Inc

44,638,742

33,221

\*

Overstock.com,

Inc

772,388

24,321

Penske

Auto

Group,

Inc

2,714,710

65,216

\*,e

Petco

Health

&

Wellness

Co,

Inc

686,724

15,878

e

PetMed

Express,

Inc

338,519

34,024

Pool

Corp

10,351,122

36,726

\*

Poshmark,

Inc

655,926

61,858

\*

Quotient

Technology,

Inc

152,171

282,750

Qurate

Retail

Group,

Inc

QVC

Group

661,635

89,286

\*,e

Rent

the

Runway,

Inc

174,108

64,638

Rent-A-Center,

Inc

1,347,702

27,156

\*,e

Revolve

Group,

Inc

651,744

17,233

\*

RH

4,375,976

288,395

Ross

Stores,

Inc

27,596,518

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

85,693

\*

Sally

Beauty

Holdings,

Inc

$

1,089,158

11,037

e

Shoe

Carnival,

Inc

264,667

17,717

Shutterstock,

Inc

886,382

40,854

e

Signet

Jewelers

Ltd

2,665,315

18,059

\*

Sleep

Number

Corp

500,957

18,582

Sonic

Automotive,

Inc

(Class

A)

868,708

32,181

\*

Sportsman's

Warehouse

Holdings,

Inc

288,985

111,643

\*,e

Stitch

Fix

Inc

446,572

395,448

Target

Corp

64,952,334

86,207

\*,e

ThredUp,

Inc

106,035

17,146

e

Tilly's,

Inc

151,914

990,416

TJX

Companies,

Inc

71,408,994

22,051

\*,e

Torrid

Holdings,

Inc

108,711

94,700

Tractor

Supply

Co

20,812,219

9,582

\*

TravelCenters

of

America,

Inc

609,224

43,833

\*

Ulta

Beauty,

Inc

18,382,245

55,782

\*,e

Urban

Outfitters,

Inc

1,330,959

72,946

\*

Victoria's

Secret

&

Co

2,742,770

468,027

\*,e

Volta,

Inc

519,510

66,872

\*

Warby

Parker,

Inc

1,073,296

59,379

\*,e

Wayfair,

Inc

2,251,652

57,618

Williams-Sonoma,

Inc

7,134,837

3,307

Winmark

Corp

832,173

36,429

\*,e

Xometry,

Inc

2,187,926

17,633

\*

Zumiez,

Inc

395,508

TOTAL

RETAILING

1,766,192,086

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.2

%

38,257

\*

ACM

Research,

Inc

244,845

1,375,958

\*

Advanced

Micro

Devices,

Inc

82,640,038

50,942

\*

Allegro

MicroSystems,

Inc

1,294,436

16,124

\*

Alpha

&

Omega

Semiconductor

Ltd

528,061

27,295

\*

Ambarella,

Inc

1,493,855

84,110

Amkor

Technology,

Inc

1,748,647

443,670

Analog

Devices,

Inc

63,276,215

738,466

Applied

Materials,

Inc

65,199,163

16,289

\*,e

Atomera,

Inc

146,764

24,848

\*

Axcelis

Technologies,

Inc

1,441,184

30,647

\*

AXT,

Inc

139,137

336,390

Broadcom,

Inc

158,143,667

17,599

\*

Ceva,

Inc

486,788

49,443

\*

Cirrus

Logic,

Inc

3,318,614

36,109

\*

Cohu,

Inc

1,188,708

79,262

\*

Credo

Technology

Group

Holding

Ltd

1,089,060

37,942

\*

Diodes,

Inc

2,719,303

110,227

\*

Enphase

Energy,

Inc

33,839,689

132,771

Entegris,

Inc

10,534,051

93,111

\*

First

Solar,

Inc

13,554,168

65,638

\*

Formfactor,

Inc

1,326,544

52,708

\*,e

GLOBALFOUNDRIES,

Inc

2,988,544

21,380

\*

Ichor

Holdings

Ltd

543,907

13,316

\*

Impinj,

Inc

1,526,413

79,821

\*,e

indie

Semiconductor,

Inc

624,200

3,489,495

Intel

Corp

99,206,343

120,631

KLA

Corp

38,173,680

47,137

e

Kulicke

&

Soffa

Industries,

Inc

1,976,926

117,320

Lam

Research

Corp

47,488,790

110,898

\*

Lattice

Semiconductor

Corp

5,379,662

43,924

\*

MACOM

Technology

Solutions

Holdings,

Inc

2,541,882

713,525

Marvell

Technology,

Inc

28,312,672

54,765

\*

MaxLinear,

Inc

1,691,143

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

457,435

Microchip

Technology,

Inc

$

28,242,037

942,227

Micron

Technology,

Inc

50,974,481

48,720

MKS

Instruments,

Inc

4,002,348

39,967

Monolithic

Power

Systems,

Inc

13,566,798

41,129

\*

Nanometrics,

Inc

2,749,062

2,048,051

NVIDIA

Corp

276,425,443

372,067

\*

ON

Semiconductor

Corp

22,856,076

37,563

\*

PDF

Solutions,

Inc

885,736

51,560

\*

Photronics,

Inc

836,303

48,003

Power

Integrations,

Inc

3,202,280

87,656

\*

Qorvo,

Inc

7,545,429

952,833

QUALCOMM,

Inc

112,110,331

98,341

\*

Rambus,

Inc

2,965,965

52,459

\*

Semtech

Corp

1,452,590

29,158

\*

Silicon

Laboratories,

Inc

3,350,837

12,310

\*

SiTime

Corp

1,105,561

3,881

\*,e

SkyWater

Technology,

Inc

31,475

141,184

Skyworks

Solutions,

Inc

12,143,236

36,959

\*

SMART

Global

Holdings,

Inc

500,055

60,658

\*,e

SunPower

Corp

1,121,566

31,257

\*

Synaptics,

Inc

2,769,370

130,615

Teradyne,

Inc

10,625,530

780,755

Texas

Instruments,

Inc

125,412,676

32,932

\*

Ultra

Clean

Holdings

1,024,515

43,145

Universal

Display

Corp

4,108,267

38,313

\*

Veeco

Instruments,

Inc

698,446

95,784

\*

Wolfspeed,

Inc

7,542,990

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

1,373,056,502

SOFTWARE

&

SERVICES

-

.9

%

80,969

\*,e

8x8,

Inc

342,499

62,292

A10

Networks,

Inc

1,046,506

537,022

Accenture

plc

152,460,546

100,734

\*

ACI

Worldwide,

Inc

2,450,858

78,779

Adeia,

Inc

880,749

401,354

\*

Adobe,

Inc

127,831,249

152,428

\*,e

Affirm

Holdings,

Inc

3,059,230

16,639

\*

Agilysys,

Inc

1,067,725

133,350

\*

Akamai

Technologies,

Inc

11,778,805

41,290

\*

Alarm.com

Holdings,

Inc

2,429,504

21,105

\*

Alkami

Technology,

Inc

334,514

42,883

\*

Altair

Engineering,

Inc

2,103,411

44,748

\*

Alteryx,

Inc

2,180,570

104,434

Amdocs

Ltd

9,013,699

27,834

American

Software,

Inc

(Class

A)

476,796

44,631

\*,e

Amplitude,

Inc

749,801

76,172

\*

Ansys,

Inc

16,846,200

14,183

\*

Appfolio,

Inc

1,778,123

30,205

\*,e

Appian

Corp

1,474,608

181,106

\*,e

AppLovin

Corp

3,071,558

56,062

\*,e

Asana,

Inc

1,154,877

24,950

\*

Aspen

Technology,

Inc

6,024,178

115,052

\*

Atlassian

Corp

23,324,492

187,924

\*

Autodesk,

Inc

40,272,113

352,311

Automatic

Data

Processing,

Inc

85,153,569

102,950

\*,e

AvePoint,

Inc

449,891

117,308

\*

AvidXchange

Holdings,

Inc

1,067,503

25,395

\*

Benefitfocus,

Inc

179,035

135,884

Bentley

Systems,

Inc

4,793,988

36,148

\*

BigCommerce

Holdings,

Inc

537,159

78,479

\*

Bill.Com

Holdings,

Inc

10,465,959

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

137,979

\*

Black

Knight,

Inc

$

8,343,590

36,670

\*

Blackbaud,

Inc

2,005,849

46,049

\*

Blackline,

Inc

2,578,744

148,286

\*,e

Blend

Labs,

Inc

372,198

448,163

\*

Block,

Inc

26,921,151

110,923

\*

Box,

Inc

3,222,313

38,126

Bread

Financial

Holdings,

Inc

1,376,730

27,196

\*

Brightcove,

Inc

182,213

100,910

Broadridge

Financial

Solutions,

Inc

15,142,555

69,174

\*

BTRS

Holdings,

Inc

653,003

53,262

\*,e

C3.ai,

Inc

698,265

234,635

\*

Cadence

Design

Systems,

Inc

35,521,393

44,004

\*

Cantaloupe,

Inc

147,413

11,050

Cass

Information

Systems,

Inc

472,719

135,134

\*

CCC

Intelligent

Solutions

Holdings,

Inc

1,260,800

56,180

\*,e

Cerberus

Cyber

Sentinel

Corp

194,383

28,638

\*

Cerence

Inc

492,574

110,416

\*

Ceridian

HCM

Holding,

Inc

7,308,435

21,983

\*

ChannelAdvisor

Corp

506,488

88,161

\*,e

Cleanspark,

Inc

306,800

49,711

\*,e

Clear

Secure,

Inc

1,343,191

228,256

\*

Cloudflare,

Inc

12,855,378

455,356

Cognizant

Technology

Solutions

Corp

(Class

A)

28,345,911

38,311

\*

Commvault

Systems,

Inc

2,332,757

35,931

Concentrix

Corp

4,391,846

136,953

\*

Conduent,

Inc

564,246

100,027

\*,e

Confluent,

Inc

2,688,726

11,171

\*

Consensus

Cloud

Solutions,

Inc

627,140

23,931

\*

Couchbase,

Inc

306,317

56,974

\*

Coupa

Software,

Inc

3,032,726

183,386

\*

Crowdstrike

Holdings,

Inc

29,561,823

9,750

\*

CS

Disco,

Inc

104,520

27,043

CSG

Systems

International,

Inc

1,748,871

66,722

\*,e

Cvent

Holding

Corp

390,324

34,300

\*

Cyxtera

Technologies,

Inc

83,006

228,796

\*

Datadog,

Inc

18,420,366

10,173

\*,e

Digimarc

Corp

166,227

70,760

\*

Digital

Turbine,

Inc

1,033,096

60,945

\*,e

DigitalOcean

Holdings,

Inc

2,189,144

159,038

\*

DocuSign,

Inc

7,681,535

52,134

Dolby

Laboratories,

Inc

(Class

A)

3,484,637

20,918

\*

Domo,

Inc

369,621

47,093

\*

DoubleVerify

Holdings,

Inc

1,376,528

239,768

\*

Dropbox,

Inc

5,214,954

56,515

\*

Duck

Creek

Technologies,

Inc

674,789

205,085

\*

DXC

Technology

Co

5,896,194

165,154

\*

Dynatrace,

Inc

5,820,027

152,822

\*,e

E2open

Parent

Holdings,

Inc

890,952

20,502

e

Ebix,

Inc

405,735

17,054

\*

eGain

Corp

137,285

60,393

\*

Elastic

NV

3,862,132

16,370

\*,e

Enfusion,

Inc

231,963

29,716

\*

EngageSmart,

Inc

583,622

43,493

\*

Envestnet,

Inc

2,144,640

47,053

\*

EPAM

Systems,

Inc

16,468,550

39,210

\*

Euronet

Worldwide,

Inc

3,294,032

28,541

\*

Everbridge,

Inc

894,190

11,625

\*

EverCommerce,

Inc

101,254

47,756

EVERTEC,

Inc

1,710,142

49,200

\*

Evo

Payments,

Inc

1,657,548

27,354

\*

ExlService

Holdings,

Inc

4,974,325

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

22,743

\*

Fair

Isaac

Corp

$

10,890,258

82,247

\*,e

Fastly,

Inc

698,277

518,334

Fidelity

National

Information

Services,

Inc

43,016,539

505,318

\*

Fiserv,

Inc

51,916,371

55,884

\*

Five9,

Inc

3,367,570

62,647

\*

FleetCor

Technologies,

Inc

11,659,860

46,691

\*

Flywire

Corp

1,024,867

22,426

\*

ForgeRock,

Inc

505,931

552,789

\*

Fortinet,

Inc

31,597,419

64,912

\*

Gartner,

Inc

19,598,231

166,795

Genpact

Ltd

8,089,557

236,312

Global

Payments,

Inc

27,001,009

33,890

\*

Globant

S.A.

6,394,365

142,318

\*

GoDaddy,

Inc

11,442,367

90,772

\*,e

Greenidge

Generation

Holdings,

Inc

88,249

33,757

\*

Grid

Dynamics

Holdings,

Inc

459,433

67,262

\*

Guidewire

Software,

Inc

3,996,035

19,483

Hackett

Group,

Inc

425,509

37,161

\*

HubSpot,

Inc

11,020,466

15,281

\*

I3

Verticals,

Inc

332,515

24,792

\*,e

Informatica,

Inc

479,973

8,671

\*,e

Instructure

Holdings,

Inc

204,809

7,613

\*

Intapp,

Inc

170,988

25,045

InterDigital,

Inc

1,248,994

765,769

International

Business

Machines

Corp

105,898,195

24,509

\*

International

Money

Express

Inc

662,478

236,302

Intuit,

Inc

101,019,105

66,085

Jack

Henry

&

Associates,

Inc

13,154,880

53,595

\*

Jamf

Holding

Corp

1,268,594

129,871

\*,e

Kaleyra,

Inc

111,702

58,166

\*

KnowBe4,

Inc

1,429,720

174,055

\*

Kyndryl

Holdings,

Inc

1,683,112

223,881

\*,e

Latch,

Inc

300,001

94,577

\*

Limelight

Networks,

Inc

254,412

48,836

\*

Liveperson,

Inc

516,197

50,165

\*

LiveRamp

Holdings,

Inc

921,029

58,755

\*

Manhattan

Associates,

Inc

7,148,721

56,865

\*,e

Marathon

Digital

Holdings,

Inc

745,500

347,596

\*

Marqeta,

Inc

2,739,056

733,237

Mastercard,

Inc

(Class

A)

240,633,719

175,101

\*,e

Matterport,

Inc

611,102

47,340

MAXIMUS,

Inc

2,919,458

8,990

\*

MeridianLink,

Inc

161,820

6,361,810

Microsoft

Corp

1,476,766,955

7,356

\*,e

MicroStrategy,

Inc

(Class

A)

1,967,804

32,077

\*

Mitek

Systems,

Inc

362,791

26,865

\*,e

Model

N,

Inc

1,020,870

89,240

\*

MoneyGram

International,

Inc

945,052

53,658

\*

MongoDB,

Inc

9,821,024

54,411

\*

N-Able,

Inc

589,271

45,184

\*

nCino

OpCo,

Inc

1,422,392

99,167

\*

NCR

Corp

2,108,290

40,047

\*

New

Relic,

Inc

2,372,384

519,410

NortonLifelock,

Inc

11,702,307

197,437

\*

Nutanix,

Inc

5,409,774

123,477

\*

Okta,

Inc

6,929,529

71,961

\*,e

Olo,

Inc

633,976

20,114

\*

ON24,

Inc

163,728

26,135

\*

OneSpan,

Inc

287,224

1,291,382

Oracle

Corp

100,818,193

60,897

\*

Pagerduty,

Inc

1,518,771

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

1,589,936

\*

Palantir

Technologies,

Inc

$

13,975,537

253,741

\*

Palo

Alto

Networks,

Inc

43,539,418

61,800

\*

Paya

Holdings,

Inc

496,872

271,341

Paychex,

Inc

32,102,354

45,587

\*

Paycom

Software,

Inc

15,773,102

40,991

\*

Paycor

HCM,

Inc

1,248,996

33,397

\*

Paylocity

Holding

Corp

7,741,091

172,922

\*

Payoneer

Global,

Inc

1,340,146

988,414

\*

PayPal

Holdings,

Inc

82,611,642

318,648

\*,e

Paysafe

Ltd

465,226

31,477

Pegasystems,

Inc

1,171,259

27,439

\*

Perficient,

Inc

1,837,590

56,416

\*

Procore

Technologies,

Inc

3,083,699

36,290

Progress

Software

Corp

1,851,879

31,004

\*

PROS

Holdings,

Inc

773,550

95,749

\*

PTC,

Inc

11,282,105

41,416

\*

Q2

Holdings,

Inc

1,285,553

34,997

\*

Qualys,

Inc

4,989,172

40,695

\*,e

Rackspace

Technology,

Inc

209,579

47,972

\*

Rapid7,

Inc

2,171,692

67,270

\*

Remitly

Global,

Inc

781,677

66,056

\*

Repay

Holdings

Corp

402,281

39,817

\*

Rimini

Street,

Inc

223,373

63,654

\*

RingCentral,

Inc

2,260,990

148,135

\*

Riot

Blockchain,

Inc

1,020,650

90,549

Roper

Technologies,

Inc

37,536,182

247,088

\*

Sabre

Corp

1,435,581

825,647

\*

Salesforce,

Inc

134,241,946

23,490

Sapiens

International

Corp

NV

462,048

6,388

\*

SecureWorks

Corp

52,254

175,530

\*

SentinelOne,

Inc

4,009,105

170,975

\*

ServiceNow,

Inc

71,936,022

46,318

\*

Shift4

Payments,

Inc

2,129,238

6,847

\*

ShotSpotter,

Inc

260,186

94,520

\*

Smartsheet,

Inc

3,300,638

259,790

\*

Snowflake,

Inc

41,644,337

27,775

\*

SolarWinds

Corp

259,141

130,668

\*

Splunk,

Inc

10,859,817

34,888

\*

Sprout

Social,

Inc

2,104,793

29,309

\*

SPS

Commerce,

Inc

3,708,175

25,029

\*,e

Squarespace,

Inc

555,894

197,871

SS&C

Technologies

Holdings,

Inc

10,174,527

221,351

\*

StoneCo

Ltd

2,324,185

61,561

\*

Sumo

Logic,

Inc

474,635

97,569

\*

SVMK,

Inc

757,135

112,982

Switch,

Inc

3,847,037

130,207

\*

Synopsys,

Inc

38,092,058

29,649

\*

Telos

Corp

314,279

87,738

\*

Tenable

Holdings,

Inc

3,565,672

87,924

\*

Teradata

Corp

2,777,519

161,291

\*

Terawulf,

Inc

183,872

235,128

\*

Toast,

Inc

5,193,978

374,853

\*

Trade

Desk,

Inc

19,957,174

14,025

TTEC

Holdings,

Inc

623,692

7,649

\*,e

Tucows,

Inc

343,823

68,810

\*

Turing

Holding

Corp

661,264

137,943

\*

Twilio,

Inc

10,258,821

35,978

\*

Tyler

Technologies,

Inc

11,632,767

300,462

\*

UiPath,

Inc

3,800,844

47,903

\*

Unisys

Corp

407,176

167,721

\*,e

Unity

Software,

Inc

4,947,770

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

21,072

\*

Upland

Software,

Inc

$

169,419

59,761

\*

UserTesting,

Inc

442,231

82,404

\*

Varonis

Systems,

Inc

2,205,955

57,225

\*

Verint

Systems,

Inc

2,027,482

80,357

\*

VeriSign,

Inc

16,108,364

16,429

\*,e

Veritone,

Inc

121,739

110,081

\*

Verra

Mobility

Corp

1,879,083

8,329

\*

Viant

Technology,

Inc

37,980

1,402,018

Visa,

Inc

(Class

A)

290,442,049

171,550

VMware,

Inc

(Class

A)

19,304,522

310,877

Western

Union

Co

4,199,948

36,638

\*

WEX,

Inc

6,013,761

41,065

\*

Wix.com

Ltd

3,453,566

166,619

\*

Workday,

Inc

25,962,573

38,026

\*

Workiva,

Inc

2,958,803

84,797

\*

Yext,

Inc

451,120

100,411

\*

Zendesk,

Inc

7,700,520

89,772

\*,e

Zeta

Global

Holdings

Corp

748,698

217,009

\*

Zoom

Video

Communications,

Inc

18,107,231

72,363

\*

Zscaler,

Inc

11,151,138

85,083

\*

Zuora

Inc

654,288

TOTAL

SOFTWARE

&

SERVICES

4,234,829,817

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.9

%

93,330

\*

3D

Systems

Corp

824,104

14,000

\*,e

908

Devices,

Inc

223,860

35,686

ADTRAN

Holdings,

Inc

801,508

29,347

Advanced

Energy

Industries,

Inc

2,308,142

81,605

\*,e

Aeva

Technologies,

Inc

163,210

32,905

\*,e

Akoustis

Technologies,

Inc

109,574

507,431

Amphenol

Corp

(Class

A)

38,478,493

13,002,048

Apple,

Inc

1,993,734,040

214,703

\*

Arista

Networks,

Inc

25,949,005

61,760

\*

Arlo

Technologies,

Inc

318,064

55,492

\*

Arrow

Electronics,

Inc

5,619,120

7,328

\*

Aviat

Networks,

Inc

239,332

27,434

\*

Avid

Technology,

Inc

754,161

73,643

Avnet,

Inc

2,959,712

22,437

Badger

Meter,

Inc

2,523,714

33,419

Belden

CDT,

Inc

2,326,965

28,683

Benchmark

Electronics,

Inc

814,310

57,956

\*

Calix,

Inc

4,267,880

7,538

\*

Cambium

Networks

Corp

145,860

33,928

\*,e

Casa

Systems,

Inc

106,873

115,459

CDW

Corp

19,952,470

122,588

\*

Ciena

Corp

5,871,965

3,532,951

Cisco

Systems,

Inc

160,501,964

7,678

\*

Clearfield,

Inc

932,647

156,966

Cognex

Corp

7,256,538

101,582

\*

Coherent

Corp

3,414,171

151,613

\*

CommScope

Holding

Co,

Inc

2,007,356

18,962

Comtech

Telecommunications

Corp

209,530

663,139

Corning,

Inc

21,333,182

19,947

\*,e

Corsair

Gaming,

Inc

275,269

24,590

CTS

Corp

971,797

235,677

Dell

Technologies,

Inc

9,049,997

24,428

\*

Digi

International,

Inc

985,181

12,695

\*

DZS,

Inc

201,724

42,963

\*,e

Eastman

Kodak

Co

229,852

20,216

\*

ePlus,

Inc

984,923

88,758

\*

Evolv

Technologies

Holdings,

Inc

260,061

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

92,854

\*

Extreme

Networks,

Inc

$

1,665,801

51,719

\*

F5

Networks,

Inc

7,391,162

29,342

\*

Fabrinet

3,356,725

14,511

\*

FARO

Technologies,

Inc

423,866

21,995

\*,e

Focus

Universal,

Inc

223,909

67,921

\*

Harmonic,

Inc

1,049,379

1,099,233

Hewlett

Packard

Enterprise

Co

15,686,055

891,419

HP,

Inc

24,620,993

15,569

\*

Identiv,

Inc

187,606

134,931

\*,e

Infinera

Corp

756,963

63,430

\*,e

Inseego

Corp

143,352

25,303

\*

Insight

Enterprises,

Inc

2,391,387

95,106

\*,e

IonQ,

Inc

560,174

28,045

\*

IPG

Photonics

Corp

2,402,335

34,094

\*

Itron,

Inc

1,666,856

113,681

Jabil

Inc

7,304,004

257,168

Juniper

Networks,

Inc

7,869,341

154,236

\*

Keysight

Technologies,

Inc

26,860,199

14,794

\*

Kimball

Electronics,

Inc

305,792

63,212

\*

Knowles

Corp

869,165

89,502

\*,e

Lightwave

Logic,

Inc

758,082

19,527

Littelfuse,

Inc

4,300,822

57,817

\*

Lumentum

Holdings,

Inc

4,304,476

29,619

Methode

Electronics,

Inc

1,221,191

132,689

\*,e

Microvision,

Inc

485,642

109,376

\*

Mirion

Technologies,

Inc

883,758

143,014

Motorola

Solutions,

Inc

35,712,026

18,860

\*

Napco

Security

Technologies,

Inc

536,001

102,594

National

Instruments

Corp

3,917,039

180,438

NetApp,

Inc

12,498,940

24,521

\*

Netgear,

Inc

481,838

54,736

\*

Netscout

Systems,

Inc

1,966,117

32,078

\*

nLight,

Inc

345,480

29,734

\*

Novanta,

Inc

4,204,388

12,970

\*

OSI

Systems,

Inc

1,065,875

89,933

\*,e

Ouster,

Inc

112,416

17,935

\*,e

PAR

Technology

Corp

516,169

9,082

PC

Connection,

Inc

482,617

22,542

\*

Plexus

Corp

2,218,133

260,661

\*

Pure

Storage,

Inc

8,043,998

58,048

\*

Ribbon

Communications,

Inc

153,827

16,117

\*

Rogers

Corp

3,792,814

48,189

\*

Sanmina

Corp

2,700,993

19,807

\*

Scansource,

Inc

613,621

95,165

\*,e

SmartRent,

Inc

261,704

35,032

\*

Super

Micro

Computer,

Inc

2,437,877

34,869

SYNNEX

Corp

3,190,862

39,790

\*

Teledyne

Technologies,

Inc

15,835,624

216,855

\*

Trimble

Inc

13,045,997

76,878

\*

TTM

Technologies,

Inc

1,177,002

11,009

\*

Turtle

Beach

Corp

85,870

5,566

e

Ubiquiti,

Inc

1,930,010

295,480

\*,e

Velodyne

Lidar,

Inc

291,786

53,957

\*

Viasat,

Inc

2,210,079

194,238

\*

Viavi

Solutions,

Inc

2,932,994

113,192

Vishay

Intertechnology,

Inc

2,366,845

9,429

\*

Vishay

Precision

Group,

Inc

318,229

130,144

Vontier

Corp

2,485,750

279,147

\*

Western

Digital

Corp

9,594,282

102,726

Xerox

Holdings

Corp

1,502,881

31,511

\*

Xperi,

Inc

440,209

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

45,738

\*

Zebra

Technologies

Corp

(Class

A)

$

12,953,916

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

2,587,219,798

TELECOMMUNICATION

SERVICES

-

.1

%

8,408

\*

Anterix,

Inc

322,447

6,104,823

AT&T,

Inc

111,290,923

5,840

ATN

International,

Inc

251,821

33,182

\*

Bandwidth

Inc

393,870

85,783

\*,e

Charge

Enterprises,

Inc

190,438

33,327

Cogent

Communications

Group,

Inc

1,750,001

70,859

\*

Consolidated

Communications

Holdings,

Inc

366,341

37,068

\*

EchoStar

Corp

(Class

A)

699,473

197,197

\*

Frontier

Communications

Parent,

Inc

4,618,354

539,838

\*

Globalstar,

Inc

1,171,448

44,664

\*

Gogo,

Inc

635,122

15,140

\*

IDT

Corp

(Class

B)

394,548

101,605

\*

Iridium

Communications,

Inc

5,235,706

27,165

\*

Liberty

Latin

America

Ltd

(Class

A)

211,344

118,887

\*

Liberty

Latin

America

Ltd

(Class

C)

926,130

891,245

e

Lumen

Technologies,

Inc

6,559,563

22,870

\*

Ooma,

Inc

371,180

59,880

\*

Radius

Global

Infrastructure,

Inc

559,878

38,595

Shenandoah

Telecom

Co

874,563

91,530

Telephone

&

Data

Systems,

Inc

1,556,010

505,320

\*

T-Mobile

US,

Inc

76,586,299

20,445

\*

US

Cellular

Corp

637,271

3,568,775

Verizon

Communications,

Inc

133,365,122

TOTAL

TELECOMMUNICATION

SERVICES

348,967,852

TRANSPORTATION

-

.8

%

44,939

\*

Air

Transport

Services

Group,

Inc

1,312,219

118,224

\*

Alaska

Air

Group,

Inc

5,256,239

23,832

\*

Allegiant

Travel

Co

1,788,592

7,407

Amerco,

Inc

4,260,432

501,523

\*

American

Airlines

Group,

Inc

7,111,596

19,944

ArcBest

Corp

1,584,152

21,395

\*,e

Atlas

Air

Worldwide

Holdings,

Inc

2,163,890

23,909

\*

Avis

Budget

Group,

Inc

5,653,522

57,804

\*

Blade

Air

Mobility,

Inc

260,118

101,232

CH

Robinson

Worldwide,

Inc

9,892,391

11,526

\*

Copa

Holdings

S.A.

(Class

A)

867,101

48,562

Costamare,

Inc

458,425

15,394

Covenant

Transportation

Group,

Inc

582,509

1,837,879

CSX

Corp

53,408,764

35,358

\*

Daseke,

Inc

210,734

548,327

\*

Delta

Air

Lines,

Inc

18,604,735

6,343

Eagle

Bulk

Shipping,

Inc

306,874

139,498

Expeditors

International

of

Washington,

Inc

13,649,879

205,391

FedEx

Corp

32,920,069

24,006

Forward

Air

Corp

2,541,515

26,908

\*

Frontier

Group

Holdings,

Inc

352,764

23,696

Genco

Shipping

&

Trading

Ltd

317,526

97,745

Golden

Ocean

Group

Ltd

814,216

84,873

\*

GXO

Logistics,

Inc

3,101,259

45,051

\*

Hawaiian

Holdings,

Inc

650,086

38,745

Heartland

Express,

Inc

576,526

194,659

\*

Hertz

Global

Holdings,

Inc

3,581,726

38,365

\*

Hub

Group,

Inc

(Class

A)

2,977,124

67,844

JB

Hunt

Transport

Services,

Inc

11,606,073

296,245

\*

JetBlue

Airways

Corp

2,381,810

200,623

\*,e

Joby

Aviation,

Inc

967,003

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TRANSPORTATION—continued

45,468

\*

Kirby

Corp

$

3,171,393

124,863

Knight-Swift

Transportation

Holdings,

Inc

5,997,170

30,762

Landstar

System,

Inc

4,805,640

241,540

\*

Lyft,

Inc

(Class

A)

3,536,146

48,163

Marten

Transport

Ltd

904,019

33,308

Matson,

Inc

2,450,803

198,483

Norfolk

Southern

Corp

45,268,018

86,829

Old

Dominion

Freight

Line

23,843,243

5,260

\*

PAM

Transportation

Services,

Inc

146,491

26,622

\*

Radiant

Logistics,

Inc

161,596

40,037

Ryder

System,

Inc

3,223,379

35,633

Safe

Bulkers,

Inc

90,151

23,079

\*

Saia,

Inc

4,589,490

57,475

Schneider

National,

Inc

1,278,244

38,889

\*

Skywest,

Inc

687,558

516,538

\*

Southwest

Airlines

Co

18,776,156

87,473

Spirit

Airlines,

Inc

1,924,406

24,319

\*

Sun

Country

Airlines

Holdings,

Inc

395,913

204,378

\*,e

TuSimple

Holdings,

Inc

701,017

1,601,815

\*

Uber

Technologies,

Inc

42,560,225

534,215

Union

Pacific

Corp

105,315,145

262,874

\*

United

Airlines

Holdings

Inc

11,324,612

625,277

United

Parcel

Service,

Inc

(Class

B)

104,902,722

7,345

Universal

Logistics

Holdings

Inc

235,040

48,383

Werner

Enterprises,

Inc

1,896,614

129,339

\*,e

Wheels

Up

Experience,

Inc

228,930

82,661

\*

XPO

Logistics,

Inc

4,276,880

TOTAL

TRANSPORTATION

582,850,870

UTILITIES

-

.8

%

559,524

AES

Corp

14,637,148

50,603

Allete,

Inc

2,847,431

218,025

Alliant

Energy

Corp

11,374,364

37,175

\*

Altus

Power,

Inc

370,263

210,627

Ameren

Corp

17,170,313

429,871

American

Electric

Power

Co,

Inc

37,794,258

40,319

American

States

Water

Co

3,647,257

153,139

American

Water

Works

Co,

Inc

22,257,222

4,314

Artesian

Resources

Corp

225,536

121,433

Atmos

Energy

Corp

12,938,686

45,838

Avangrid,

Inc

1,864,690

78,906

Avista

Corp

3,237,513

51,514

Black

Hills

Corp

3,367,470

88,079

Brookfield

Infrastructure

Corp

3,797,967

104,865

Brookfield

Renewable

Corp

3,253,961

42,672

California

Water

Service

Group

2,648,224

539,408

Centerpoint

Energy,

Inc

15,432,463

15,372

Chesapeake

Utilities

Corp

1,911,969

26,585

Clearway

Energy,

Inc

(Class

A)

859,493

88,678

Clearway

Energy,

Inc

(Class

C)

3,080,674

233,390

CMS

Energy

Corp

13,314,900

302,520

Consolidated

Edison,

Inc

26,609,659

274,299

Constellation

Energy

Corp

25,932,228

715,069

Dominion

Energy,

Inc

50,033,378

162,923

DTE

Energy

Co

18,265,298

654,608

Duke

Energy

Corp

60,996,374

318,691

Edison

International

19,134,208

165,775

Entergy

Corp

17,761,134

203,026

Essential

Utilities

Inc

8,977,810

194,163

Evergy,

Inc

11,869,184

292,347

Eversource

Energy

22,300,229

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

810,944

Exelon

Corp

$

31,294,329

461,986

FirstEnergy

Corp

17,421,492

6,030

Global

Water

Resources,

Inc

76,943

100,064

Hawaiian

Electric

Industries,

Inc

3,806,435

44,825

Idacorp,

Inc

4,693,178

31,879

MGE

Energy,

Inc

2,170,641

13,552

Middlesex

Water

Co

1,212,497

51,542

\*,e

Montauk

Renewables,

Inc

771,584

78,083

National

Fuel

Gas

Co

5,269,822

80,647

New

Jersey

Resources

Corp

3,600,082

1,669,476

NextEra

Energy,

Inc

129,384,390

327,100

NiSource,

Inc

8,403,199

24,580

Northwest

Natural

Holding

Co

1,182,052

62,281

NorthWestern

Corp

3,290,305

212,903

NRG

Energy,

Inc

9,452,893

174,454

OGE

Energy

Corp

6,390,250

42,824

ONE

Gas,

Inc

3,318,004

45,018

e

Ormat

Technologies,

Inc

4,071,878

35,270

Otter

Tail

Corp

2,377,903

1,321,867

\*

PG&E

Corp

19,735,474

102,787

Pinnacle

West

Capital

Corp

6,908,314

56,224

PNM

Resources,

Inc

2,612,729

89,765

Portland

General

Electric

Co

4,034,039

633,234

PPL

Corp

16,774,369

407,775

Public

Service

Enterprise

Group,

Inc

22,863,944

16,583

\*

Pure

Cycle

Corp

143,111

268,198

Sempra

Energy

40,481,806

23,659

SJW

Corp

1,672,218

96,290

South

Jersey

Industries,

Inc

3,338,374

901,271

Southern

Co

59,015,225

50,760

Southwest

Gas

Holdings

Inc

3,709,033

40,846

Spire,

Inc

2,851,459

78,069

\*,e

Sunnova

Energy

International,

Inc

1,447,399

173,172

UGI

Corp

6,118,167

17,944

Unitil

Corp

945,828

7,602

e

Via

Renewables,

Inc

53,138

343,357

Vistra

Energy

Corp

7,886,910

268,984

WEC

Energy

Group,

Inc

24,566,309

455,675

Xcel

Energy,

Inc

29,668,999

11,965

York

Water

Co

521,195

TOTAL

UTILITIES

931,447,221

TOTAL

COMMON

STOCKS

32,664,521,310

(Cost

$18,687,477,004)

EXP

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.0

%

27,694

†

Chinook

Therapeutics,

Inc

4,598

†

Tobira

Therapeutics,

Inc

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

TOTAL

RIGHTS/WARRANTS

(Cost

$276)

Portfolio

of

investments

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

SHORT-TERM

INVESTMENTS

-

1.5%

GOVERNMENT

AGENCY

DEBT

-

.6

%

$

70,000,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

11/01/22

$

70,000,000

45,000,000

FHLB

.000

11/03/22

44,990,725

20,000,000

FHLB

.000

12/16/22

19,903,145

22,644,000

FHLB

.000

12/21/22

22,522,189

15,000,000

FHLB

.000

01/13/23

14,877,408

6,000,000

FHLB

.000

11/04/22

5,998,145

TOTAL

GOVERNMENT

AGENCY

DEBT

178,291,612

REPURCHASE

AGREEMENT

-

.2

%

76,615,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

76,615,000

TOTAL

REPURCHASE

AGREEMENT

76,615,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.7

%

231,212,889

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

231,212,889

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

231,212,889

TOTAL

SHORT-TERM

INVESTMENTS

486,119,501

(Cost

$486,136,474)

TOTAL

INVESTMENTS

-

101.1%

33,150,641,087

(Cost

$19,173,613,754)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(1.1)%

(375,595,382)

NET

ASSETS

-

100.0%

$

32,775,045,705

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

d

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$266,030,201.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$76,615,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$78,147,324.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

S&P

500

E

Mini

Index

12/16/22

$

51,991,146

$

54,167,850

$

2,176,704

Large-Cap

Growth

Index

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.8%

AUTOMOBILES

&

COMPONENTS

-

.3

%

32,641

\*

Aptiv

plc

$

2,972,616

253,139

\*,e

Lucid

Group,

Inc

3,617,356

1,257,734

\*

Tesla,

Inc

286,184,795

TOTAL

AUTOMOBILES

&

COMPONENTS

292,774,767

BANKS

-

.1

%

1,447

First

Citizens

Bancshares,

Inc

(Class

A)

1,189,608

31,816

e

Rocket

Cos,

Inc

219,530

1,520

Signature

Bank

240,965

18,642

\*

SVB

Financial

Group

4,305,556

60,374

e

UWM

Holdings

Corp

198,027

31,716

Western

Alliance

Bancorp

2,130,364

TOTAL

BANKS

8,284,050

CAPITAL

GOODS

-

.3

%

14,866

A.O.

Smith

Corp

814,359

30,668

Advanced

Drainage

Systems,

Inc

3,553,808

4,150

Aecom

Technology

Corp

312,412

4,392

AGCO

Corp

545,355

34,452

Allegion

plc

3,609,536

33,298

Allison

Transmission

Holdings,

Inc

1,406,840

13,555

Armstrong

World

Industries,

Inc

1,024,351

26,839

\*

Axon

Enterprise,

Inc

3,903,464

83,860

\*

Boeing

Co

11,950,889

17,831

BWX

Technologies,

Inc

1,016,010

21,537

Carlisle

Cos,

Inc

5,143,036

227,415

Caterpillar,

Inc

49,226,251

124,319

\*,e

ChargePoint

Holdings,

Inc

1,737,980

12,277

\*,e

Core

&

Main,

Inc

289,492

138,653

Deere

&

Co

54,881,630

10,563

Donaldson

Co,

Inc

606,844

94,031

Emerson

Electric

Co

8,143,085

286,785

Fastenal

Co

13,860,319

21,685

Fortune

Brands

Home

&

Security,

Inc

1,308,039

30,346

\*

Generac

Holdings,

Inc

3,517,405

29,504

General

Electric

Co

2,295,706

58,348

Graco,

Inc

4,059,854

20,261

HEICO

Corp

3,295,249

36,784

HEICO

Corp

(Class

A)

4,682,603

97,368

Honeywell

International,

Inc

19,865,019

20,644

Howmet

Aerospace,

Inc

733,894

4,190

Huntington

Ingalls

1,077,123

6,503

IDEX

Corp

1,445,682

138,401

Illinois

Tool

Works,

Inc

29,552,766

27,893

Lincoln

Electric

Holdings,

Inc

3,960,806

117,438

Lockheed

Martin

Corp

57,154,726

5,914

Masco

Corp

273,641

1,807

\*

Middleby

Corp

252,727

6,520

Nordson

Corp

1,467,000

8,243

Northrop

Grumman

Corp

4,525,489

24,828

Otis

Worldwide

Corp

1,753,850

13,972

Parker-Hannifin

Corp

4,060,543

128,242

\*,e

Plug

Power,

Inc

2,049,307

38,825

Quanta

Services,

Inc

5,514,703

38,952

Rockwell

Automation,

Inc

9,944,446

13,268

\*

SiteOne

Landscape

Supply,

Inc

1,537,363

49,142

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

1,138,129

52,789

Toro

Co

5,565,544

67,290

Trane

Technologies

plc

10,741,503

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

9,774

TransDigm

Group,

Inc

$

5,627,478

54,628

\*

Trex

Co,

Inc

2,627,061

15,753

\*

United

Rentals,

Inc

4,973,380

1,479

Valmont

Industries,

Inc

472,126

23,058

Vertiv

Holdings

Co

329,960

22,481

W.W.

Grainger,

Inc

13,136,772

8,378

Watsco,

Inc

2,270,103

11,332

\*

WESCO

International,

Inc

1,561,210

55,467

\*

WillScot

Mobile

Mini

Holdings

Corp

2,359,011

12,072

Xylem,

Inc

1,236,535

TOTAL

CAPITAL

GOODS

378,392,414

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.2

%

65,121

Booz

Allen

Hamilton

Holding

Co

7,088,421

39,570

Cintas

Corp

16,918,153

103,901

\*

Copart,

Inc

11,950,693

27,036

\*

CoStar

Group,

Inc

2,236,418

30,322

Equifax,

Inc

5,140,792

6,804

\*

FTI

Consulting,

Inc

1,058,907

53,288

\*

IAA,

Inc

2,021,214

43,186

KBR,

Inc

2,149,367

7,146

MSA

Safety,

Inc

959,279

6,494

Republic

Services,

Inc

861,234

48,076

Robert

Half

International,

Inc

3,675,891

104,685

Rollins,

Inc

4,405,145

10,532

Tetra

Tech,

Inc

1,487,961

67,836

TransUnion

4,020,640

77,410

Verisk

Analytics,

Inc

14,152,870

192,544

Waste

Management,

Inc

30,493,193

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

108,620,178

CONSUMER

DURABLES

&

APPAREL

-

.1

%

6,261

Brunswick

Corp

442,465

11,482

\*

Deckers

Outdoor

Corp

4,017,896

84,223

DR

Horton,

Inc

6,475,064

55,499

\*

Lululemon

Athletica,

Inc

18,261,391

79,398

\*

Mattel,

Inc

1,505,386

605,658

Nike,

Inc

(Class

B)

56,132,383

1,084

\*

NVR,

Inc

4,593,721

20,940

Polaris

Inc

2,127,504

45,619

Pulte

Homes,

Inc

1,824,304

12,185

\*

Skechers

U.S.A.,

Inc

(Class

A)

419,530

13,513

Tapestry,

Inc

428,092

22,765

Toll

Brothers,

Inc

980,716

13,333

\*

TopBuild

Corp

2,268,477

42,112

\*

YETI

Holdings,

Inc

1,350,953

TOTAL

CONSUMER

DURABLES

&

APPAREL

100,827,882

CONSUMER

SERVICES

-

.3

%

194,080

\*

Airbnb,

Inc

20,749,093

19,606

\*

Booking

Holdings,

Inc

36,653,025

8,012

\*

Bright

Horizons

Family

Solutions

523,344

69,867

\*

Caesars

Entertainment,

Inc

3,055,284

13,724

\*

Chipotle

Mexican

Grill,

Inc

(Class

A)

20,563,081

16,614

Choice

Hotels

International,

Inc

2,157,162

18,170

Churchill

Downs,

Inc

3,777,725

43,403

Darden

Restaurants,

Inc

6,212,705

12,950

Domino's

Pizza,

Inc

4,302,508

160,904

\*,e

DraftKings,

Inc

2,542,283

75,399

\*

Expedia

Group,

Inc

7,047,545

60,442

H&R

Block,

Inc

2,487,188

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

97,021

Hilton

Worldwide

Holdings,

Inc

$

13,123,060

59,355

\*

Las

Vegas

Sands

Corp

2,256,084

136,727

Marriott

International,

Inc

(Class

A)

21,891,360

88,355

McDonald's

Corp

24,090,874

28,510

\*,e

Mister

Car

Wash,

Inc

251,743

15,574

\*

Norwegian

Cruise

Line

Holdings

Ltd

263,045

30,557

\*

Planet

Fitness,

Inc

2,000,872

18,930

\*

Six

Flags

Entertainment

Corp

422,139

205,200

Starbucks

Corp

17,768,268

29,971

Travel

&

Leisure

Co

1,138,299

18,291

Vail

Resorts,

Inc

4,008,107

84,966

Wendy's

1,765,593

28,119

Wyndham

Hotels

&

Resorts,

Inc

2,135,076

6,451

\*

Wynn

Resorts

Ltd

412,219

17,584

Yum!

Brands,

Inc

2,079,308

TOTAL

CONSUMER

SERVICES

203,676,990

DIVERSIFIED

FINANCIALS

-

.3

%

17,255

American

Express

Co

2,561,505

34,287

Ameriprise

Financial,

Inc

10,598,797

173,470

Apollo

Global

Management,

Inc

9,603,299

75,617

Ares

Management

Corp

5,734,037

344,551

Blackstone,

Inc

31,402,378

212,183

e

Blue

Owl

Capital,

Inc

2,126,074

416,279

Charles

Schwab

Corp

33,164,948

\*,e

Credit

Acceptance

Corp

176,470

18,926

Factset

Research

Systems,

Inc

8,052,824

208,177

iShares

Russell

1000

Growth

Index

Fund

46,336,037

39,630

LPL

Financial

Holdings,

Inc

10,131,409

18,506

MarketAxess

Holdings,

Inc

4,516,204

75,053

Moody's

Corp

19,879,288

11,241

Morningstar,

Inc

2,609,935

29,502

MSCI,

Inc

(Class

A)

13,832,308

7,515

Raymond

James

Financial,

Inc

887,822

32,725

Tradeweb

Markets,

Inc

1,802,493

6,710

\*,e

Upstart

Holdings,

Inc

155,538

TOTAL

DIVERSIFIED

FINANCIALS

203,571,366

ENERGY

-

.8

%

91,903

\*

Antero

Resources

Corp

3,369,164

60,732

Cabot

Oil

&

Gas

Corp

1,890,587

70,038

Cheniere

Energy,

Inc

12,355,404

13,054

Continental

Resources,

Inc

965,604

159,628

Devon

Energy

Corp

12,347,226

48,626

Diamondback

Energy,

Inc

7,639,631

11,619

Enviva,

Inc

695,281

212,659

EOG

Resources,

Inc

29,032,207

205,084

Halliburton

Co

7,469,159

108,952

Hess

Corp

15,370,948

22,352

New

Fortress

Energy,

Inc

1,230,925

336,025

Occidental

Petroleum

Corp

24,395,415

24,158

ONEOK,

Inc

1,433,052

90,408

Ovintiv,

Inc

4,579,165

25,271

PDC

Energy,

Inc

1,823,050

65,125

Pioneer

Natural

Resources

Co

16,698,701

84,058

Range

Resources

Corp

2,393,972

6,761

\*

Southwestern

Energy

Co

46,854

112,191

Targa

Resources

Investments,

Inc

7,670,499

2,845

Texas

Pacific

Land

Corp

6,554,510

TOTAL

ENERGY

157,961,354

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD

&

STAPLES

RETAILING

-

.5

%

40,656

\*

BJ's

Wholesale

Club

Holdings,

Inc

$

3,146,774

218,999

Costco

Wholesale

Corp

109,827,999

3,138

\*

Grocery

Outlet

Holding

Corp

108,481

22,549

\*

Performance

Food

Group

Co

1,173,450

249,600

SYSCO

Corp

21,605,376

TOTAL

FOOD

&

STAPLES

RETAILING

135,862,080

FOOD,

BEVERAGE

&

TOBACCO

-

.7

%

4,430

\*

Boston

Beer

Co,

Inc

(Class

A)

1,653,675

12,870

Brown-Forman

Corp

(Class

A)

885,070

53,720

Brown-Forman

Corp

(Class

B)

3,652,960

1,449,099

Coca-Cola

Co

86,728,575

5,514

\*

Darling

International,

Inc

432,739

12,224

\*

Freshpet,

Inc

720,605

61,903

Hershey

Co

14,780,579

68,451

Kellogg

Co

5,258,406

70,158

Lamb

Weston

Holdings,

Inc

6,049,023

169,285

\*

Monster

Beverage

Corp

15,865,390

577,985

PepsiCo,

Inc

104,950,516

14,286

\*

Pilgrim's

Pride

Corp

329,292

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

241,306,830

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.8

%

110,397

Abbott

Laboratories

10,922,679

21,911

\*

Abiomed,

Inc

5,523,325

86,563

\*

agilon

health,

Inc

1,718,275

29,342

\*

Align

Technology,

Inc

5,701,151

73,650

AmerisourceBergen

Corp

11,579,253

37,768

Baxter

International,

Inc

2,052,691

26,722

\*

Certara,

Inc

326,810

2,594

Chemed

Corp

1,211,061

23,878

Cigna

Corp

7,714,027

25,426

\*

DaVita,

Inc

1,856,352

9,211

\*

Definitive

Healthcare

Corp

145,350

194,789

\*

Dexcom,

Inc

23,526,615

20,204

\*,e

Doximity,

Inc

534,800

306,542

\*

Edwards

Lifesciences

Corp

22,202,837

36,036

Elevance

Health,

Inc

19,703,404

1,873

\*

Globus

Medical,

Inc

125,491

48,422

\*

Guardant

Health,

Inc

2,396,889

6,604

HCA

Healthcare,

Inc

1,436,172

44,420

Humana,

Inc

24,789,914

1,789

\*

ICU

Medical,

Inc

265,505

40,980

\*

IDEXX

Laboratories,

Inc

14,739,686

33,758

\*

Insulet

Corp

8,736,908

163,430

\*

Intuitive

Surgical,

Inc

40,280,592

18,048

\*

Masimo

Corp

2,375,117

14,139

McKesson

Corp

5,505,302

21,442

\*

Molina

Healthcare,

Inc

7,694,676

51,693

\*

Novocure

Ltd

3,652,627

17,487

\*

Penumbra,

Inc

2,998,496

71,220

Resmed,

Inc

15,931,202

93,794

Stryker

Corp

21,501,336

30,518

\*

Tandem

Diabetes

Care,

Inc

1,713,586

5,037

\*

Teladoc,

Inc

149,297

420,978

UnitedHealth

Group,

Inc

233,705,937

68,492

\*

Veeva

Systems,

Inc

11,502,546

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

514,219,909

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.5

%

55,744

Church

&

Dwight

Co,

Inc

4,132,303

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HOUSEHOLD

&

PERSONAL

PRODUCTS—continued

50,427

Clorox

Co

$

7,364,359

250,304

Colgate-Palmolive

Co

18,482,447

112,932

Estee

Lauder

Cos

(Class

A)

22,641,737

98,004

Kimberly-Clark

Corp

12,197,578

59,755

\*

Olaplex

Holdings,

Inc

262,922

503,939

Procter

&

Gamble

Co

67,865,465

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

132,946,811

INSURANCE

-

.3

%

97,650

Aon

plc

27,487,498

56,347

\*

Arch

Capital

Group

Ltd

3,239,953

11,867

Arthur

J. Gallagher

&

Co

2,220,078

1,602

Assurant,

Inc

217,648

10,258

Brown

&

Brown,

Inc

603,068

8,223

Erie

Indemnity

Co

(Class

A)

2,113,393

5,779

Everest

Re

Group

Ltd

1,864,652

18,557

Lincoln

National

Corp

999,666

1,470

\*

Markel

Corp

1,772,967

221,184

Marsh

&

McLennan

Cos,

Inc

35,719,004

252,277

Progressive

Corp

32,392,367

11,190

RenaissanceRe

Holdings

Ltd

1,730,869

39,553

\*

Ryan

Specialty

Group

Holdings,

Inc

1,773,952

TOTAL

INSURANCE

112,135,115

MATERIALS

-

.4

%

29,306

Albemarle

Corp

8,201,870

23,453

e

Ardagh

Metal

Packaging

S.A.

104,131

25,250

Avery

Dennison

Corp

4,281,137

29,160

\*

Axalta

Coating

Systems

Ltd

680,011

60,053

Ball

Corp

2,966,018

30,295

\*

Berry

Global

Group,

Inc

1,433,559

98,765

CF

Industries

Holdings,

Inc

10,494,769

46,085

Chemours

Co

1,319,414

50,835

Crown

Holdings,

Inc

3,486,773

17,018

Eagle

Materials,

Inc

2,081,472

109,387

Ecolab,

Inc

17,181,416

20,717

FMC

Corp

2,463,251

95,463

\*

Ginkgo

Bioworks

Holdings,

Inc

260,614

113,341

Graphic

Packaging

Holding

Co

2,602,309

51,971

Linde

plc

15,453,577

3,356

Louisiana-Pacific

Corp

190,117

2,639

Martin

Marietta

Materials,

Inc

886,651

21,393

Mosaic

Co

1,149,874

43,613

\*

MP

Materials

Corp

1,310,135

62,422

PPG

Industries,

Inc

7,127,344

2,043

Royal

Gold,

Inc

194,003

3,145

RPM

International,

Inc

297,423

4,793

e

Scotts

Miracle-Gro

Co

(Class

A)

220,047

70,081

Sealed

Air

Corp

3,337,257

118,932

Sherwin-Williams

Co

26,763,268

27,914

Southern

Copper

Corp

1,311,121

86,148

Valvoline,

Inc

2,529,305

31,080

Vulcan

Materials

Co

5,087,796

TOTAL

MATERIALS

123,414,662

MEDIA

&

ENTERTAINMENT

-

.8

%

2,587,680

\*

Alphabet,

Inc

(Class

A)

244,561,637

2,323,856

\*

Alphabet,

Inc

(Class

C)

219,976,209

1,757

Cable

One,

Inc

1,510,019

55,032

\*

Charter

Communications,

Inc

20,230,864

8,553

Electronic

Arts,

Inc

1,077,336

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

4,650

Liberty

Broadband

Corp

(Class

A)

$

396,738

28,835

\*

Liberty

Broadband

Corp

(Class

C)

2,434,539

10,821

\*

Liberty

Media

Group

(Class

C)

624,696

10,036

Liberty

SiriusXM

Group

(Class

A)

425,928

20,659

\*

Liberty

SiriusXM

Group

(Class

C)

871,603

37,047

\*

Live

Nation,

Inc

2,949,312

4,679

Madison

Square

Garden

Co

732,778

131,862

\*

Match

Group,

Inc

5,696,438

241,544

\*

Meta

Platforms,

Inc

22,502,239

97,431

\*

Netflix,

Inc

28,438,160

1,561

Nexstar

Media

Group

Inc

267,399

58,273

\*

Pinterest,

Inc

1,433,516

51,055

\*

Playtika

Holding

Corp

482,470

218,784

\*,e

ROBLOX

Corp

9,788,396

19,074

\*

Roku,

Inc

1,059,370

68,470

\*

Spotify

Technology

S.A.

5,517,313

67,192

\*

Take-Two

Interactive

Software,

Inc

7,960,908

4,015

\*

TripAdvisor,

Inc

94,834

61,393

\*

Walt

Disney

Co

6,540,810

851,225

\*

Warner

Bros

Discovery,

Inc

11,065,925

21,422

World

Wrestling

Entertainment,

Inc

(Class

A)

1,689,982

136,321

\*

ZoomInfo

Technologies,

Inc

6,070,374

TOTAL

MEDIA

&

ENTERTAINMENT

604,399,793

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.8

%

41,004

\*

10X

Genomics,

Inc

1,114,489

873,960

AbbVie,

Inc

127,947,744

132,316

Agilent

Technologies,

Inc

18,305,919

59,878

\*

Alnylam

Pharmaceuticals,

Inc

12,410,314

221,876

Amgen,

Inc

59,984,177

281,940

\*

Avantor,

Inc

5,686,730

19,420

Bio-Techne

Corp

5,753,369

52,368

Bruker

BioSciences

Corp

3,238,437

26,184

\*

Catalent,

Inc

1,721,074

23,514

\*

Charles

River

Laboratories

International,

Inc

4,990,846

21,350

Danaher

Corp

5,373,155

339,157

Eli

Lilly

&

Co

122,805,358

15,228

\*

Exact

Sciences

Corp

529,630

135,915

\*

Exelixis,

Inc

2,253,471

103,656

\*

Horizon

Therapeutics

Plc

6,459,842

79,293

\*

Incyte

Corp

5,894,642

64,536

\*

Ionis

Pharmaceuticals,

Inc

2,852,491

92,529

\*

IQVIA

Holdings,

Inc

19,400,555

54,664

\*

Maravai

LifeSciences

Holdings,

Inc

907,422

524,367

Merck

&

Co,

Inc

53,065,940

11,165

\*

Mettler-Toledo

International,

Inc

14,122,943

9,921

\*

Moderna,

Inc

1,491,424

39,864

\*

Natera,

Inc

1,872,013

46,438

\*

Neurocrine

Biosciences,

Inc

5,345,943

26,245

\*,e

Novavax,

Inc

584,476

7,531

\*

Regeneron

Pharmaceuticals,

Inc

5,638,836

19,842

\*

Repligen

Corp

3,620,967

40,658

\*

Sarepta

Therapeutics,

Inc

4,635,825

66,595

\*

Seagen,

Inc

8,468,220

49,243

\*

Sotera

Health

Co

338,792

9,090

\*

Syneos

Health,

Inc

457,954

23,315

Thermo

Fisher

Scientific,

Inc

11,983,211

27,743

\*

Ultragenyx

Pharmaceutical,

Inc

1,122,482

119,287

\*

Vertex

Pharmaceuticals,

Inc

37,217,544

29,433

\*

Waters

Corp

8,805,471

36,533

West

Pharmaceutical

Services,

Inc

8,406,243

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

233,013

Zoetis,

Inc

$

35,133,700

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

609,941,649

REAL

ESTATE

-

.5

%

176,049

American

Tower

Corp

36,475,592

6,216

Apartment

Income

REIT

Corp

238,881

4,202

Camden

Property

Trust

485,541

77,763

\*

CBRE

Group,

Inc

5,516,507

213,920

Crown

Castle

International

Corp

28,506,979

34,034

Equinix,

Inc

19,278,219

55,263

Equity

Lifestyle

Properties,

Inc

3,534,621

7,822

Extra

Space

Storage,

Inc

1,387,936

104,310

Iron

Mountain,

Inc

5,222,802

37,794

Lamar

Advertising

Co

3,485,741

71,434

\*

Opendoor

Technologies,

Inc

185,014

61,702

Public

Storage,

Inc

19,112,195

11,693

SBA

Communications

Corp

3,155,941

78,832

Simon

Property

Group,

Inc

8,591,111

1,694

\*

Zillow

Group,

Inc

(Class

A)

52,395

4,792

\*

Zillow

Group,

Inc

(Class

C)

147,881

TOTAL

REAL

ESTATE

135,377,356

RETAILING

-

.9

%

2,323

Advance

Auto

Parts,

Inc

441,184

4,394,678

\*

Amazon.com,

Inc

450,190,814

8,778

\*

AutoZone,

Inc

22,233,621

32,080

Best

Buy

Co,

Inc

2,194,593

31,338

\*

Burlington

Stores,

Inc

4,480,080

8,715

\*

CarMax,

Inc

549,132

39,953

\*,e

Carvana

Co

540,564

113,562

Dollar

General

Corp

28,963,988

33,265

\*

Dollar

Tree,

Inc

5,272,502

109,990

\*

DoorDash,

Inc

4,787,865

35,039

eBay,

Inc

1,395,954

63,466

\*

Etsy,

Inc

5,960,092

26,570

\*

Five

Below,

Inc

3,888,520

51,288

\*

Floor

&

Decor

Holdings,

Inc

3,763,001

5,407

Genuine

Parts

Co

961,689

296,417

Home

Depot,

Inc

87,777,966

60,056

\*,e

Leslie's,

Inc

843,186

273,000

Lowe's

Companies,

Inc

53,221,350

47,561

e

Nordstrom,

Inc

967,391

1,535

\*,e

Ollie's

Bargain

Outlet

Holdings,

Inc

85,960

12,732

\*

O'Reilly

Automotive,

Inc

10,658,848

19,168

Pool

Corp

5,831,481

3,902

\*

RH

990,835

72,668

Ross

Stores,

Inc

6,953,601

125,423

Target

Corp

20,600,728

578,413

TJX

Companies,

Inc

41,703,577

55,164

Tractor

Supply

Co

12,123,392

25,370

\*

Ulta

Beauty,

Inc

10,639,417

29,442

\*

Victoria's

Secret

&

Co

1,107,019

24,793

\*,e

Wayfair,

Inc

940,151

26,860

Williams-Sonoma,

Inc

3,326,074

TOTAL

RETAILING

793,394,575

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.4

%

628,838

\*

Advanced

Micro

Devices,

Inc

37,768,010

33,260

\*

Allegro

MicroSystems,

Inc

845,137

50,679

Analog

Devices,

Inc

7,227,839

428,957

Applied

Materials,

Inc

37,872,614

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

195,332

Broadcom,

Inc

$

91,829,480

64,153

\*

Enphase

Energy,

Inc

19,694,971

72,930

Entegris,

Inc

5,786,266

7,628

\*,e

GLOBALFOUNDRIES,

Inc

432,508

70,521

KLA

Corp

22,316,370

67,462

Lam

Research

Corp

27,307,268

69,219

\*

Lattice

Semiconductor

Corp

3,357,814

228,412

Microchip

Technology,

Inc

14,102,157

103,623

Micron

Technology,

Inc

5,606,004

22,445

Monolithic

Power

Systems,

Inc

7,618,955

1,190,791

NVIDIA

Corp

160,721,061

134,997

\*

ON

Semiconductor

Corp

8,292,866

554,112

QUALCOMM,

Inc

65,196,818

70,666

Teradyne,

Inc

5,748,679

312,435

Texas

Instruments,

Inc

50,186,434

21,316

Universal

Display

Corp

2,029,710

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

573,940,961

SOFTWARE

&

SERVICES

-

.6

%

313,422

Accenture

plc

88,980,506

233,371

\*

Adobe,

Inc

74,328,663

28,382

\*

Alteryx,

Inc

1,383,055

23,110

\*

Ansys,

Inc

5,111,008

108,696

\*,e

AppLovin

Corp

1,843,484

13,403

\*

Aspen

Technology,

Inc

3,236,154

68,076

\*

Atlassian

Corp

13,801,047

107,366

\*

Autodesk,

Inc

23,008,534

189,637

Automatic

Data

Processing,

Inc

45,835,263

81,073

Bentley

Systems,

Inc

2,860,255

6,914

\*

Black

Knight,

Inc

418,090

52,747

Broadridge

Financial

Solutions,

Inc

7,915,215

134,391

\*

Cadence

Design

Systems,

Inc

20,345,453

31,588

\*

CCC

Intelligent

Solutions

Holdings,

Inc

294,716

12,521

\*

Ceridian

HCM

Holding,

Inc

828,765

139,599

\*

Cloudflare,

Inc

7,862,216

59,703

\*

Confluent,

Inc

1,604,817

20,088

\*

Coupa

Software,

Inc

1,069,284

103,553

\*

Crowdstrike

Holdings,

Inc

16,692,744

131,913

\*

Datadog,

Inc

10,620,316

98,236

\*

DocuSign,

Inc

4,744,799

22,840

\*

DoubleVerify

Holdings,

Inc

667,613

125,612

\*

Dropbox,

Inc

2,732,061

95,555

\*

Dynatrace,

Inc

3,367,358

39,011

\*

Elastic

NV

2,494,753

27,212

\*

EPAM

Systems,

Inc

9,524,200

18,777

\*

Euronet

Worldwide,

Inc

1,577,456

12,200

\*

Fair

Isaac

Corp

5,841,848

26,644

\*

Fiserv,

Inc

2,737,405

34,150

\*

Five9,

Inc

2,057,879

36,295

\*

FleetCor

Technologies,

Inc

6,755,225

316,306

\*

Fortinet,

Inc

18,080,051

38,143

\*

Gartner,

Inc

11,516,135

45,740

Genpact

Ltd

2,218,390

20,070

\*

Globant

S.A.

3,786,808

10,760

\*

GoDaddy,

Inc

865,104

22,588

\*

HubSpot,

Inc

6,698,697

2,856

\*,e

Informatica,

Inc

55,292

297,046

International

Business

Machines

Corp

41,078,491

136,300

Intuit,

Inc

58,268,250

36,334

Jack

Henry

&

Associates,

Inc

7,232,646

21,822

\*

Jamf

Holding

Corp

516,527

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

19,602

\*

Manhattan

Associates,

Inc

$

2,384,975

425,679

Mastercard,

Inc

(Class

A)

139,699,334

3,699,652

Microsoft

Corp

858,800,219

32,397

\*

MongoDB,

Inc

5,929,623

5,368

\*

nCino

OpCo,

Inc

168,985

3,141

\*

NCR

Corp

66,778

27,746

\*

New

Relic,

Inc

1,643,673

97,081

NortonLifelock,

Inc

2,187,235

52,787

\*

Nutanix,

Inc

1,446,364

8,121

\*

Okta,

Inc

455,750

513,305

Oracle

Corp

40,073,721

896,764

\*

Palantir

Technologies,

Inc

7,882,556

146,075

\*

Palo

Alto

Networks,

Inc

25,065,009

158,786

Paychex,

Inc

18,785,972

25,500

\*

Paycom

Software,

Inc

8,823,000

19,730

\*

Paylocity

Holding

Corp

4,573,217

177,398

\*

PayPal

Holdings,

Inc

14,826,925

19,105

Pegasystems,

Inc

710,897

25,124

\*

Procore

Technologies,

Inc

1,373,278

53,008

\*

PTC,

Inc

6,245,933

43,426

\*

RingCentral,

Inc

1,542,492

101,417

\*

Salesforce,

Inc

16,489,390

65,519

\*

SentinelOne,

Inc

1,496,454

99,032

\*

ServiceNow,

Inc

41,666,724

24,993

\*

Shift4

Payments,

Inc

1,148,928

62,663

\*

Smartsheet,

Inc

2,188,192

141,392

\*

Snowflake,

Inc

22,665,138

79,868

\*

Splunk,

Inc

6,637,829

41,148

Switch,

Inc

1,401,089

75,072

\*

Synopsys,

Inc

21,962,314

27,173

\*

Teradata

Corp

858,395

123,197

\*

Toast,

Inc

2,721,422

215,735

\*

Trade

Desk,

Inc

11,485,731

40,950

\*

Turing

Holding

Corp

393,529

31,179

\*

Twilio,

Inc

2,318,782

17,465

\*

Tyler

Technologies,

Inc

5,646,958

16,508

\*

UiPath,

Inc

208,826

67,395

\*,e

Unity

Software,

Inc

1,988,152

4,942

\*

VeriSign,

Inc

990,673

814,105

Visa,

Inc

(Class

A)

168,649,992

49,083

VMware,

Inc

(Class

A)

5,523,310

69,337

Western

Union

Co

936,743

16,385

\*

WEX,

Inc

2,689,434

20,087

\*

Wix.com

Ltd

1,689,317

98,004

\*

Workday,

Inc

15,270,983

60,362

\*

Zendesk,

Inc

4,629,162

63,869

\*

Zoom

Video

Communications,

Inc

5,329,229

41,295

\*

Zscaler,

Inc

6,363,559

TOTAL

SOFTWARE

&

SERVICES

2,016,892,764

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.0

%

217,718

Amphenol

Corp

(Class

A)

16,509,556

7,560,423

Apple,

Inc

1,159,315,263

120,326

\*

Arista

Networks,

Inc

14,542,600

1,582

\*

Arrow

Electronics,

Inc

160,193

66,612

CDW

Corp

11,511,220

82,460

Cognex

Corp

3,812,126

10,454

\*

Coherent

Corp

351,359

21,417

Corning,

Inc

688,985

19,679

Dell

Technologies,

Inc

755,674

236,156

HP,

Inc

6,522,629

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

55,664

Jabil

Inc

$

3,576,412

82,575

\*

Keysight

Technologies,

Inc

14,380,436

8,196

National

Instruments

Corp

312,923

106,981

NetApp,

Inc

7,410,574

138,190

\*

Pure

Storage,

Inc

4,264,543

828

e

Ubiquiti,

Inc

287,109

46,199

Vontier

Corp

882,401

10,318

\*

Zebra

Technologies

Corp

(Class

A)

2,922,264

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

1,248,206,267

TRANSPORTATION

-

.1

%

16,234

CH

Robinson

Worldwide,

Inc

1,586,386

267,022

CSX

Corp

7,759,659

316,304

\*

Delta

Air

Lines,

Inc

10,732,195

25,293

Expeditors

International

of

Washington,

Inc

2,474,920

5,520

\*

GXO

Logistics,

Inc

201,701

35,860

JB

Hunt

Transport

Services,

Inc

6,134,570

16,258

Landstar

System,

Inc

2,539,825

123,414

\*

Lyft,

Inc

(Class

A)

1,806,781

49,937

Old

Dominion

Freight

Line

13,712,700

805,766

\*

Uber

Technologies,

Inc

21,409,203

310,577

Union

Pacific

Corp

61,227,150

324,416

United

Parcel

Service,

Inc

(Class

B)

54,427,272

3,704

\*

XPO

Logistics,

Inc

191,645

TOTAL

TRANSPORTATION

184,204,007

UTILITIES

-

.1

%

57,727

AES

Corp

1,510,138

3,418

National

Fuel

Gas

Co

230,681

117,638

Vistra

Energy

Corp

2,702,145

TOTAL

UTILITIES

4,442,964

TOTAL

COMMON

STOCKS

8,884,794,744

(Cost

$4,560,674,429)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.3%

REPURCHASE

AGREEMENT

-

.0

%

$

4,670,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

%

11/01/22

4,670,000

TOTAL

REPURCHASE

AGREEMENT

4,670,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.3

%

24,413,256

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

24,413,256

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

24,413,256

TOTAL

SHORT-TERM

INVESTMENTS

29,083,256

(Cost

$29,083,256)

TOTAL

INVESTMENTS

-

100.1%

8,913,878,000

(Cost

$4,589,757,685)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.1)%

(8,029,512)

NET

ASSETS

-

100.0%

$

8,905,848,488

REIT

Real

Estate

Investment

Trust

Portfolio

of

investments

Large-Cap

Growth

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

concluded

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$27,079,303.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$4,670,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$4,763,451.

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

100.0%

AUTOMOBILES

&

COMPONENTS

-

.0

%

88,676

\*

Aptiv

plc

$

8,075,723

103,000

BorgWarner,

Inc

3,865,590

1,708,619

Ford

Motor

Co

22,844,236

637,507

General

Motors

Co

25,022,150

102,860

Gentex

Corp

2,724,761

58,896

Harley-Davidson,

Inc

2,532,528

26,258

Lear

Corp

3,642,247

14,196

\*,e

Lucid

Group,

Inc

202,861

107,517

\*,e

QuantumScape

Corp

895,617

220,617

\*,e

Rivian

Automotive,

Inc

7,714,977

23,168

Thor

Industries,

Inc

1,887,497

TOTAL

AUTOMOBILES

&

COMPONENTS

79,408,187

BANKS

-

.5

%

3,064,072

Bank

of

America

Corp

110,429,155

17,274

Bank

of

Hawaii

Corp

1,311,960

53,507

Bank

OZK

2,299,731

13,741

BOK

Financial

Corp

1,514,121

842,963

Citigroup,

Inc

38,658,283

213,782

Citizens

Financial

Group,

Inc

8,743,684

56,978

Comerica,

Inc

4,016,949

46,174

Commerce

Bancshares,

Inc

3,270,966

24,533

Cullen/Frost

Bankers,

Inc

3,803,842

63,243

East

West

Bancorp,

Inc

4,526,302

300,338

Fifth

Third

Bancorp

10,719,063

4,017

First

Citizens

Bancshares,

Inc

(Class

A)

3,302,456

56,792

First

Hawaiian,

Inc

1,452,739

222,645

First

Horizon

National

Corp

5,457,029

78,279

First

Republic

Bank

9,401,308

142,775

FNB

Corp

2,063,099

628,389

Huntington

Bancshares,

Inc

9,538,945

1,272,406

JPMorgan

Chase

&

Co

160,170,467

396,102

Keycorp

7,078,343

76,555

M&T

Bank

Corp

12,889,565

130,005

MGIC

Investment

Corp

1,774,568

181,760

e

New

York

Community

Bancorp,

Inc

1,692,186

50,839

PacWest

Bancorp

1,263,858

32,370

Pinnacle

Financial

Partners,

Inc

2,686,386

179,893

PNC

Financial

Services

Group,

Inc

29,112,084

33,061

Popular,

Inc

2,338,074

38,738

Prosperity

Bancshares,

Inc

2,772,479

414,112

Regions

Financial

Corp

9,089,758

22,805

e

Rocket

Cos,

Inc

157,354

25,758

Signature

Bank

4,083,416

9,304

\*

SVB

Financial

Group

2,148,852

58,653

Synovus

Financial

Corp

2,337,322

25,874

TFS

Financial

Corp

363,530

578,284

Truist

Financial

Corp

25,901,340

94,329

Umpqua

Holdings

Corp

1,875,261

582,720

US

Bancorp

24,736,464

7,250

e

UWM

Holdings

Corp

23,780

74,572

Webster

Financial

Corp

4,046,277

1,658,484

Wells

Fargo

&

Co

76,273,679

17,948

Western

Alliance

Bancorp

1,205,567

25,142

Wintrust

Financial

Corp

2,353,794

66,030

Zions

Bancorporation

3,429,598

TOTAL

BANKS

600,313,634

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS

-

.9

%

246,814

3M

Co

$

31,046,733

42,614

A.O.

Smith

Corp

2,334,395

13,541

Acuity

Brands,

Inc

2,485,721

54,677

Aecom

Technology

Corp

4,116,085

24,199

AGCO

Corp

3,004,790

45,117

Air

Lease

Corp

1,592,179

7,281

Allegion

plc

762,830

6,013

Allison

Transmission

Holdings,

Inc

254,049

100,905

Ametek,

Inc

13,083,342

6,725

Armstrong

World

Industries,

Inc

508,208

6,683

\*

Axon

Enterprise,

Inc

971,976

49,623

\*

AZEK

Co,

Inc

868,899

165,539

\*

Boeing

Co

23,590,963

63,823

\*

Builders

FirstSource,

Inc

3,935,326

24,382

BWX

Technologies,

Inc

1,389,286

2,763

Carlisle

Cos,

Inc

659,804

371,265

Carrier

Global

Corp

14,761,496

28,850

Caterpillar,

Inc

6,244,871

18,437

\*,e

Core

&

Main,

Inc

434,744

18,849

Crane

Holdings

Co

1,891,309

61,420

Cummins,

Inc

15,017,804

16,325

Curtiss-Wright

Corp

2,739,825

44,881

Donaldson

Co,

Inc

2,578,413

62,635

Dover

Corp

8,185,768

173,302

Eaton

Corp

26,007,431

176,219

Emerson

Electric

Co

15,260,565

20,072

Esab

Corp

748,686

58,744

Flowserve

Corp

1,684,778

157,090

Fortive

Corp

10,038,051

37,451

Fortune

Brands

Home

&

Security,

Inc

2,259,044

44,584

\*

Gates

Industrial

Corp

plc

497,112

106,606

General

Dynamics

Corp

26,630,179

452,413

General

Electric

Co

35,202,256

20,774

Graco,

Inc

1,445,455

32,802

\*,e

Hayward

Holdings,

Inc

303,419

1,245

HEICO

Corp

202,487

2,183

HEICO

Corp

(Class

A)

277,896

36,526

Hexcel

Corp

2,034,498

207,854

Honeywell

International,

Inc

42,406,373

148,470

Howmet

Aerospace,

Inc

5,278,109

23,676

Hubbell,

Inc

5,622,577

12,455

Huntington

Ingalls

3,201,807

27,346

IDEX

Corp

6,079,289

13,550

Illinois

Tool

Works,

Inc

2,893,332

177,706

Ingersoll

Rand,

Inc

8,974,153

36,817

ITT,

Inc

2,812,451

304,737

Johnson

Controls

International

plc

17,625,988

84,003

L3Harris

Technologies,

Inc

20,704,219

14,540

Lennox

International,

Inc

3,396,108

97,834

Masco

Corp

4,526,779

25,573

\*

Mastec,

Inc

1,971,167

86,990

MDU

Resources

Group,

Inc

2,477,475

23,748

\*

Mercury

Systems,

Inc

1,149,403

22,160

\*

Middleby

Corp

3,099,298

17,301

MSC

Industrial

Direct

Co

(Class

A)

1,435,637

19,451

Nordson

Corp

4,376,475

56,303

Northrop

Grumman

Corp

30,910,910

71,958

nVent

Electric

plc

2,626,467

29,677

Oshkosh

Corp

2,611,576

159,288

Otis

Worldwide

Corp

11,252,104

42,486

Owens

Corning,

Inc

3,637,226

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

146,685

PACCAR,

Inc

$

14,203,509

43,328

Parker-Hannifin

Corp

12,591,983

72,224

Pentair

plc

3,102,021

114,376

\*,e

Plug

Power,

Inc

1,827,729

28,287

Quanta

Services,

Inc

4,017,885

650,790

Raytheon

Technologies

Corp

61,707,908

29,339

Regal-Beloit

Corp

3,712,557

16,550

Rockwell

Automation,

Inc

4,225,215

67,621

Sensata

Technologies

Holding

plc

2,719,040

7,645

\*

SiteOne

Landscape

Supply,

Inc

885,826

23,143

Snap-On,

Inc

5,138,903

2,336

Spirit

Aerosystems

Holdings,

Inc

(Class

A)

54,102

66,032

Stanley

Black

&

Decker,

Inc

5,182,852

85,022

\*

Sunrun,

Inc

1,913,845

91,725

Textron,

Inc

6,277,659

27,223

Timken

Co

1,940,728

42,816

Trane

Technologies

plc

6,834,718

14,099

TransDigm

Group,

Inc

8,117,640

16,928

\*

United

Rentals,

Inc

5,344,339

73,556

\*

Univar

Solutions

Inc

1,874,207

7,538

Valmont

Industries,

Inc

2,406,280

111,888

Vertiv

Holdings

Co

1,601,117

6,795

Watsco,

Inc

1,841,173

9,185

\*

WESCO

International,

Inc

1,265,417

79,263

Westinghouse

Air

Brake

Technologies

Corp

7,393,653

44,390

\*

WillScot

Mobile

Mini

Holdings

Corp

1,887,907

26,698

Woodward

Inc

2,448,207

67,454

Xylem,

Inc

6,909,313

TOTAL

CAPITAL

GOODS

631,545,329

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.9

%

9,994

\*

CACI

International,

Inc

(Class

A)

3,038,476

2,654

Cintas

Corp

1,134,718

209,756

\*

Clarivate

Analytics

plc

2,166,779

22,551

\*

Clean

Harbors,

Inc

2,761,595

147,474

\*

CoStar

Group,

Inc

12,199,049

20,710

\*

Driven

Brands

Holdings,

Inc

662,306

110,069

Dun

&

Bradstreet

Holdings,

Inc

1,414,387

26,613

Equifax,

Inc

4,511,968

8,560

\*

FTI

Consulting,

Inc

1,332,193

10,020

\*

IAA,

Inc

380,059

55,784

Jacobs

Solutions,

Inc

6,427,432

21,359

KBR,

Inc

1,063,037

59,256

Leidos

Holdings,

Inc

6,019,817

23,350

Manpower,

Inc

1,829,239

10,132

MSA

Safety,

Inc

1,360,120

84,533

Republic

Services,

Inc

11,210,766

5,809

Robert

Half

International,

Inc

444,156

6,268

Rollins,

Inc

263,757

24,890

Science

Applications

International

Corp

2,696,583

40,178

\*

Stericycle,

Inc

1,791,135

13,739

Tetra

Tech,

Inc

1,941,046

22,502

TransUnion

1,333,694

10,102

Waste

Management,

Inc

1,599,854

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

67,582,166

CONSUMER

DURABLES

&

APPAREL

-

.8

%

25,811

Brunswick

Corp

1,824,063

55,165

\*

Capri

Holdings

Ltd

2,519,937

18,771

Carter's,

Inc

1,273,988

14,127

Columbia

Sportswear

Co

1,052,461

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

1,385

\*

Deckers

Outdoor

Corp

$

484,653

67,313

DR

Horton,

Inc

5,175,023

67,798

Garmin

Ltd

5,968,936

152,563

Hanesbrands,

Inc

1,040,480

55,707

Hasbro,

Inc

3,634,882

57,852

Leggett

&

Platt,

Inc

1,952,505

111,385

Lennar

Corp

(Class

A)

8,988,769

5,425

Lennar

Corp

(Class

B)

353,818

79,717

\*

Mattel,

Inc

1,511,434

23,589

\*

Mohawk

Industries,

Inc

2,235,058

164,773

Newell

Brands

Inc

2,275,515

\*

NVR,

Inc

1,500,164

130,391

\*

Peloton

Interactive,

Inc

1,095,284

5,453

Polaris

Inc

554,025

57,343

Pulte

Homes,

Inc

2,293,147

27,387

PVH

Corp

1,405,501

18,356

e

Ralph

Lauren

Corp

1,701,418

50,292

\*

Skechers

U.S.A.,

Inc

(Class

A)

1,731,554

100,558

Tapestry,

Inc

3,185,677

74,996

Tempur

Sealy

International,

Inc

2,016,642

22,254

Toll

Brothers,

Inc

958,702

1,970

\*

TopBuild

Corp

335,176

82,942

\*

Under

Armour,

Inc

(Class

A)

617,918

83,055

\*

Under

Armour,

Inc

(Class

C)

544,841

153,062

VF

Corp

4,324,002

24,290

Whirlpool

Corp

3,357,850

TOTAL

CONSUMER

DURABLES

&

APPAREL

65,913,423

CONSUMER

SERVICES

-

.0

%

81,769

e

ADT,

Inc

691,766

100,032

ARAMARK

Holdings

Corp

3,651,168

35,091

Boyd

Gaming

Corp

2,026,856

18,574

\*

Bright

Horizons

Family

Solutions

1,213,254

27,484

\*

Caesars

Entertainment,

Inc

1,201,875

419,756

\*,e

Carnival

Corp

3,802,989

14,727

Darden

Restaurants,

Inc

2,108,023

4,231

Domino's

Pizza,

Inc

1,405,708

13,926

\*

Grand

Canyon

Education,

Inc

1,401,373

10,675

H&R

Block,

Inc

439,276

33,261

Hilton

Worldwide

Holdings,

Inc

4,498,883

21,192

\*

Hyatt

Hotels

Corp

1,996,498

90,812

\*

Las

Vegas

Sands

Corp

3,451,764

17,902

Marriott

Vacations

Worldwide

Corp

2,645,200

244,658

McDonald's

Corp

66,708,450

143,934

MGM

Resorts

International

5,119,732

6,577

\*,e

Mister

Car

Wash,

Inc

58,075

164,192

\*

Norwegian

Cruise

Line

Holdings

Ltd

2,773,203

64,761

\*

Penn

National

Gaming,

Inc

2,143,589

11,175

\*

Planet

Fitness,

Inc

731,739

94,253

\*

Royal

Caribbean

Cruises

Ltd

5,031,225

68,496

Service

Corp

International

4,151,543

4,790

\*

Six

Flags

Entertainment

Corp

106,817

321,671

Starbucks

Corp

27,853,492

8,336

Travel

&

Leisure

Co

316,601

950

Vail

Resorts,

Inc

208,174

14,548

Wyndham

Hotels

&

Resorts,

Inc

1,104,630

40,649

\*

Wynn

Resorts

Ltd

2,597,471

110,287

Yum!

Brands,

Inc

13,041,438

TOTAL

CONSUMER

SERVICES

162,480,812

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS

-

.5

%

15,890

Affiliated

Managers

Group,

Inc

$

1,972,902

235,081

AGNC

Investment

Corp

1,932,366

134,683

Ally

Financial,

Inc

3,711,864

245,991

American

Express

Co

36,517,364

16,554

Ameriprise

Financial,

Inc

5,117,172

188,187

Annaly

Capital

Management,

Inc

3,490,869

47,862

Apollo

Global

Management,

Inc

2,649,640

321,695

Bank

of

New

York

Mellon

Corp

13,546,576

787,032

\*

Berkshire

Hathaway,

Inc

(Class

B)

232,245,273

65,518

BlackRock,

Inc

42,318,731

164,419

Capital

One

Financial

Corp

17,431,702

90,638

Carlyle

Group,

Inc

2,563,243

45,196

CBOE

Global

Markets,

Inc

5,626,902

293,386

Charles

Schwab

Corp

23,374,063

156,052

CME

Group,

Inc

27,043,812

67,863

\*

Coinbase

Global,

Inc

4,495,924

2,582

\*,e

Credit

Acceptance

Corp

1,202,231

119,518

Discover

Financial

Services

12,484,850

159,472

Equitable

Holdings,

Inc

4,883,033

15,835

Evercore

Inc

1,664,259

125,518

Franklin

Resources,

Inc

2,943,397

145,252

Goldman

Sachs

Group,

Inc

50,040,767

40,653

Interactive

Brokers

Group,

Inc

(Class

A)

3,258,338

239,467

Intercontinental

Exchange

Group,

Inc

22,885,861

163,456

Invesco

Ltd

2,504,146

240,414

iShares

Russell

1000

Value

Index

Fund

35,999,592

60,313

Janus

Henderson

Group

plc

1,373,327

88,130

Jefferies

Financial

Group,

Inc

3,032,553

250,466

KKR

&

Co,

Inc

12,180,162

44,161

Lazard

Ltd

(Class

A)

1,665,311

3,992

Moody's

Corp

1,057,361

546,076

Morgan

Stanley

44,871,065

946

Morningstar,

Inc

219,642

8,528

MSCI,

Inc

(Class

A)

3,998,438

151,515

Nasdaq

Inc

9,430,294

195,914

New

Residential

Investment

Corp

1,651,555

90,005

Northern

Trust

Corp

7,591,922

51,469

OneMain

Holdings,

Inc

1,984,645

78,410

Raymond

James

Financial,

Inc

9,263,357

243,262

\*,e

Robinhood

Markets,

Inc

2,841,300

145,412

S&P

Global,

Inc

46,713,605

44,882

SEI

Investments

Co

2,437,093

109,378

SLM

Corp

1,814,581

348,042

\*

SoFi

Technologies,

Inc

1,893,348

128,442

Starwood

Property

Trust,

Inc

2,653,612

160,664

State

Street

Corp

11,889,136

43,860

Stifel

Financial

Corp

2,713,618

210,086

Synchrony

Financial

7,470,658

98,002

T

Rowe

Price

Group,

Inc

10,403,892

17,354

Tradeweb

Markets,

Inc

955,858

15,103

\*,e

Upstart

Holdings,

Inc

350,088

40,474

Virtu

Financial,

Inc

905,808

44,462

Voya

Financial,

Inc

3,039,422

TOTAL

DIVERSIFIED

FINANCIALS

756,306,528

ENERGY

-

.8

%

132,153

Antero

Midstream

Corp

1,407,429

44,907

\*

Antero

Resources

Corp

1,646,291

141,570

APA

Corp

6,435,772

416,547

Baker

Hughes

Co

11,521,690

282,633

Cabot

Oil

&

Gas

Corp

8,798,365

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

45,796

Cheniere

Energy,

Inc

$

8,078,872

52,965

Chesapeake

Energy

Corp

5,416,731

857,229

Chevron

Corp

155,072,726

555,534

ConocoPhillips

70,047,282

623

Continental

Resources,

Inc

46,083

147,227

Devon

Energy

Corp

11,388,008

31,540

Diamondback

Energy,

Inc

4,955,249

41,411

DT

Midstream,

Inc

2,472,237

68,947

EOG

Resources,

Inc

9,412,644

161,351

EQT

Corp

6,750,926

1,819,069

Exxon

Mobil

Corp

201,571,036

214,913

Halliburton

Co

7,827,131

26,760

Hess

Corp

3,775,301

61,992

HF

Sinclair

Corp

3,792,051

857,004

Kinder

Morgan,

Inc

15,528,913

295,110

Marathon

Oil

Corp

8,986,100

217,866

Marathon

Petroleum

Corp

24,753,935

171,333

NOV,

Inc

3,837,859

62,380

Occidental

Petroleum

Corp

4,528,788

172,668

ONEOK,

Inc

10,242,666

32,572

Ovintiv,

Inc

1,649,772

19,217

PDC

Energy,

Inc

1,386,314

210,604

Phillips

21,963,891

46,483

Pioneer

Natural

Resources

Co

11,918,706

39,135

Range

Resources

Corp

1,114,565

619,022

Schlumberger

Ltd

32,207,715

452,635

\*

Southwestern

Energy

Co

3,136,761

172,160

Valero

Energy

Corp

21,614,688

533,115

Williams

Cos,

Inc

17,448,854

TOTAL

ENERGY

700,735,351

FOOD

&

STAPLES

RETAILING

-

.6

%

67,531

Albertsons

Cos,

Inc

1,385,061

21,645

\*

BJ's

Wholesale

Club

Holdings,

Inc

1,675,323

15,666

Casey's

General

Stores,

Inc

3,645,635

37,562

\*

Grocery

Outlet

Holding

Corp

1,298,518

287,168

Kroger

Co

13,580,175

46,005

\*

Performance

Food

Group

Co

2,394,100

88,342

\*

US

Foods

Holding

Corp

2,629,058

314,207

Walgreens

Boots

Alliance,

Inc

11,468,555

629,027

Walmart,

Inc

89,529,413

TOTAL

FOOD

&

STAPLES

RETAILING

127,605,838

FOOD,

BEVERAGE

&

TOBACCO

-

.3

%

788,483

Altria

Group,

Inc

36,483,108

245,363

Archer-Daniels-Midland

Co

23,795,304

7,098

Brown-Forman

Corp

(Class

A)

488,129

33,121

Brown-Forman

Corp

(Class

B)

2,252,228

61,344

Bunge

Ltd

6,054,653

83,903

Campbell

Soup

Co

4,439,308

424,468

Coca-Cola

Co

25,404,410

207,330

ConAgra

Brands,

Inc

7,609,011

66,377

Constellation

Brands,

Inc

(Class

A)

16,400,429

65,794

\*

Darling

International,

Inc

5,163,513

81,385

Flowers

Foods,

Inc

2,336,563

8,776

\*

Freshpet,

Inc

517,345

260,299

General

Mills,

Inc

21,235,192

8,549

Hershey

Co

2,041,245

120,692

Hormel

Foods

Corp

5,606,143

26,676

Ingredion,

Inc

2,377,365

44,563

J.M.

Smucker

Co

6,713,862

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

49,967

Kellogg

Co

$

3,838,465

375,584

Keurig

Dr

Pepper,

Inc

14,587,683

306,077

Kraft

Heinz

Co

11,774,782

109,771

McCormick

&

Co,

Inc

8,632,391

76,495

Molson

Coors

Brewing

Co

(Class

B)

3,857,643

602,294

Mondelez

International,

Inc

37,029,035

12,568

\*

Monster

Beverage

Corp

1,177,873

92,482

PepsiCo,

Inc

16,792,882

677,434

Philip

Morris

International,

Inc

62,222,313

7,625

\*

Pilgrim's

Pride

Corp

175,756

24,285

\*

Post

Holdings,

Inc

2,195,850

Seaboard

Corp

442,073

122,251

Tyson

Foods,

Inc

(Class

A)

8,355,856

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

340,000,410

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.6

%

650,962

Abbott

Laboratories

64,406,180

39,690

\*

Acadia

Healthcare

Co,

Inc

3,226,797

4,438

\*

agilon

health,

Inc

88,094

8,589

\*

Align

Technology,

Inc

1,668,843

13,998

\*

Amedisys,

Inc

1,366,065

186,076

Baxter

International,

Inc

10,113,231

123,514

Becton

Dickinson

&

Co

29,145,599

619,759

\*

Boston

Scientific

Corp

26,717,811

119,303

Cardinal

Health,

Inc

9,055,098

248,974

\*

Centene

Corp

21,195,157

14,737

\*

Certara,

Inc

180,234

4,121

Chemed

Corp

1,923,971

109,539

Cigna

Corp

35,387,669

21,233

Cooper

Cos,

Inc

5,804,890

572,834

CVS

Health

Corp

54,247,380

5,205

\*

Definitive

Healthcare

Corp

82,135

94,162

Dentsply

Sirona,

Inc

2,902,073

22,419

\*,e

Doximity,

Inc

593,431

73,060

Elevance

Health,

Inc

39,947,016

42,873

Encompass

Health

Corp

2,334,006

21,436

\*

Enhabit,

Inc

266,235

20,072

\*

Enovis

Corp

992,560

69,923

\*

Envista

Holdings

Corp

2,308,158

32,007

\*

Globus

Medical,

Inc

2,144,469

90,175

HCA

Healthcare,

Inc

19,610,357

57,979

\*

Henry

Schein,

Inc

3,969,242

107,711

\*

Hologic,

Inc

7,302,806

16,288

Humana,

Inc

9,090,007

7,296

\*

ICU

Medical,

Inc

1,082,799

30,729

\*

Integra

LifeSciences

Holdings

Corp

1,544,132

12,390

\*

Intuitive

Surgical,

Inc

3,053,763

39,459

Laboratory

Corp

of

America

Holdings

8,754,374

4,307

\*

Masimo

Corp

566,801

50,470

McKesson

Corp

19,651,504

583,597

Medtronic

plc

50,971,362

5,017

\*

Molina

Healthcare,

Inc

1,800,401

50,996

\*

Oak

Street

Health,

Inc

1,031,649

46,993

Premier,

Inc

1,639,116

51,703

Quest

Diagnostics,

Inc

7,427,136

21,628

\*

QuidelOrtho

Corp

1,942,627

27,366

\*

Signify

Health,

Inc

799,908

43,723

STERIS

plc

7,545,715

70,547

Stryker

Corp

16,172,194

1,936

\*

Tandem

Diabetes

Care,

Inc

108,706

65,619

\*

Teladoc,

Inc

1,944,947

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

20,543

Teleflex,

Inc

$

4,407,706

46,535

\*

Tenet

Healthcare

Corp

2,064,293

36,535

UnitedHealth

Group,

Inc

20,282,405

28,629

Universal

Health

Services,

Inc

(Class

B)

3,317,242

91,873

Zimmer

Biomet

Holdings,

Inc

10,413,805

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

522,592,099

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.3

%

58,171

Church

&

Dwight

Co,

Inc

4,312,216

9,366

Clorox

Co

1,367,811

136,556

Colgate-Palmolive

Co

10,083,295

154,111

\*

Coty,

Inc

1,034,085

58,048

Kimberly-Clark

Corp

7,224,654

598,869

Procter

&

Gamble

Co

80,649,688

23,360

Reynolds

Consumer

Products,

Inc

713,415

17,607

Spectrum

Brands

Holdings,

Inc

812,387

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

106,197,551

INSURANCE

-

.7

%

271,869

Aflac,

Inc

17,701,391

117,943

Allstate

Corp

14,890,304

29,150

American

Financial

Group,

Inc

4,229,956

332,852

American

International

Group,

Inc

18,972,564

4,535

Aon

plc

1,276,557

106,550

\*

Arch

Capital

Group

Ltd

6,126,625

80,732

Arthur

J. Gallagher

&

Co

15,103,343

22,234

Assurant,

Inc

3,020,711

27,764

Assured

Guaranty

Ltd

1,643,351

31,866

Axis

Capital

Holdings

Ltd

1,742,114

27,346

\*

Brighthouse

Financial,

Inc

1,560,636

95,729

Brown

&

Brown,

Inc

5,627,908

180,942

Chubb

Ltd

38,882,626

68,478

Cincinnati

Financial

Corp

7,075,147

11,247

CNA

Financial

Corp

469,000

2,403

Erie

Indemnity

Co

(Class

A)

617,595

11,773

Everest

Re

Group

Ltd

3,798,676

113,754

Fidelity

National

Financial

Inc

4,479,633

46,672

First

American

Financial

Corp

2,352,269

39,743

Globe

Life,

Inc

4,591,111

15,500

Hanover

Insurance

Group,

Inc

2,270,595

140,432

Hartford

Financial

Services

Group,

Inc

10,168,681

27,102

Kemper

Corp

1,291,952

59,501

Lincoln

National

Corp

3,205,319

89,647

Loews

Corp

5,111,672

4,510

\*

Markel

Corp

5,439,511

22,087

Marsh

&

McLennan

Cos,

Inc

3,566,830

290,416

Metlife,

Inc

21,261,355

124,026

Old

Republic

International

Corp

2,878,643

16,845

Primerica,

Inc

2,437,471

109,763

Principal

Financial

Group

9,673,413

33,264

Progressive

Corp

4,271,098

164,607

Prudential

Financial,

Inc

17,315,010

29,686

Reinsurance

Group

of

America,

Inc

(Class

A)

4,368,889

8,478

RenaissanceRe

Holdings

Ltd

1,311,377

103,515

Travelers

Cos,

Inc

19,094,377

83,432

Unum

Group

3,803,665

90,139

W.R.

Berkley

Corp

6,704,539

1,151

White

Mountains

Insurance

Group

Ltd

1,629,989

47,474

Willis

Towers

Watson

plc

10,359,302

TOTAL

INSURANCE

290,325,205

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS

-

.1

%

96,254

Air

Products

&

Chemicals,

Inc

$

24,102,002

24,857

Albemarle

Corp

6,956,729

75,019

Alcoa

Corp

2,927,992

651,855

Amcor

plc

7,548,481

26,945

Aptargroup,

Inc

2,671,597

10,402

\*,†

Ardagh

Group

S.A.

115,462

20,854

e

Ardagh

Metal

Packaging

S.A.

92,592

21,717

Ashland

Global

Holdings,

Inc

2,278,548

13,726

Avery

Dennison

Corp

2,327,243

73,888

\*

Axalta

Coating

Systems

Ltd

1,723,068

82,709

Ball

Corp

4,084,997

29,522

\*

Berry

Global

Group,

Inc

1,396,981

47,417

Celanese

Corp

(Series

A)

4,557,722

26,826

Chemours

Co

768,028

211,640

\*

Cleveland-Cliffs,

Inc

2,749,204

313,568

Corteva,

Inc

20,488,533

6,146

Crown

Holdings,

Inc

421,554

313,305

Dow,

Inc

14,643,876

218,699

DuPont

de

Nemours,

Inc

12,509,583

2,919

Eagle

Materials,

Inc

357,023

53,546

Eastman

Chemical

Co

4,112,868

13,258

Ecolab,

Inc

2,082,434

95,900

Element

Solutions,

Inc

1,649,480

36,290

FMC

Corp

4,314,881

624,761

Freeport-McMoRan,

Inc

(Class

B)

19,798,676

286,708

\*

Ginkgo

Bioworks

Holdings,

Inc

782,713

30,661

Graphic

Packaging

Holding

Co

703,977

87,760

Huntsman

Corp

2,348,458

111,652

International

Flavors

&

Fragrances,

Inc

10,898,352

158,299

International

Paper

Co

5,320,429

173,282

Linde

plc

51,525,403

28,942

Louisiana-Pacific

Corp

1,639,564

112,530

LyondellBasell

Industries

NV

8,602,918

24,838

Martin

Marietta

Materials,

Inc

8,345,071

132,338

Mosaic

Co

7,113,167

2,213

NewMarket

Corp

673,504

342,963

Newmont

Goldcorp

Corp

14,514,194

115,582

Nucor

Corp

15,185,163

56,294

Olin

Corp

2,980,767

40,388

Packaging

Corp

of

America

4,855,041

48,399

PPG

Industries,

Inc

5,526,198

25,416

Reliance

Steel

&

Aluminum

Co

5,120,816

26,261

Royal

Gold,

Inc

2,493,745

53,026

RPM

International,

Inc

5,014,669

11,626

Scotts

Miracle-Gro

Co

(Class

A)

533,750

37,238

Silgan

Holdings,

Inc

1,763,592

40,037

Sonoco

Products

Co

2,485,497

12,789

Southern

Copper

Corp

600,699

92,799

SSR

Mining,

Inc

1,280,626

78,329

Steel

Dynamics,

Inc

7,366,842

98,297

United

States

Steel

Corp

2,001,327

29,686

Vulcan

Materials

Co

4,859,598

14,444

Westlake

Chemical

Corp

1,396,013

112,441

WestRock

Co

3,829,740

TOTAL

MATERIALS

324,441,387

MEDIA

&

ENTERTAINMENT

-

.1

%

337,737

Activision

Blizzard,

Inc

24,587,254

341,048

\*

Alphabet,

Inc

(Class

A)

32,232,447

305,737

\*

Alphabet,

Inc

(Class

C)

28,941,064

91,590

\*

Altice

USA,

Inc

605,410

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

226,261

\*,e

AMC

Entertainment

Holdings,

Inc

$

1,506,898

1,093

Cable

One,

Inc

939,357

1,910,526

Comcast

Corp

(Class

A)

60,640,095

107,769

\*

DISH

Network

Corp

(Class

A)

1,606,836

113,274

Electronic

Arts,

Inc

14,267,993

130,327

Fox

Corp

(Class

A)

3,762,541

63,346

Fox

Corp

(Class

B)

1,723,011

32,870

\*

IAC

1,600,112

170,286

Interpublic

Group

of

Cos,

Inc

5,072,820

4,879

Liberty

Broadband

Corp

(Class

A)

416,276

30,208

\*

Liberty

Broadband

Corp

(Class

C)

2,550,461

8,554

\*

Liberty

Media

Group

(Class

A)

444,979

78,028

\*

Liberty

Media

Group

(Class

C)

4,504,556

23,729

Liberty

SiriusXM

Group

(Class

A)

1,007,059

48,921

\*

Liberty

SiriusXM

Group

(Class

C)

2,063,977

33,559

\*

Live

Nation,

Inc

2,671,632

4,999

Madison

Square

Garden

Co

782,893

7,859

\*

Match

Group,

Inc

339,509

787,132

\*

Meta

Platforms,

Inc

73,329,217

104,405

\*

Netflix,

Inc

30,473,731

69,681

New

York

Times

Co

(Class

A)

2,017,962

166,229

News

Corp

(Class

A)

2,804,283

53,175

News

Corp

(Class

B)

910,888

13,903

Nexstar

Media

Group

Inc

2,381,584

88,237

Omnicom

Group,

Inc

6,419,242

901

Paramount

Global

(Class

A)

18,993

249,477

Paramount

Global

(Class

B)

4,570,419

198,361

\*

Pinterest,

Inc

4,879,681

37,595

\*

Roku,

Inc

2,088,026

275,504

e

Sirius

XM

Holdings,

Inc

1,664,044

11,929

\*

Take-Two

Interactive

Software,

Inc

1,413,348

41,086

\*

TripAdvisor,

Inc

970,451

743,676

\*

Walt

Disney

Co

79,231,241

274,803

\*

Warner

Bros

Discovery,

Inc

3,572,439

TOTAL

MEDIA

&

ENTERTAINMENT

409,012,729

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.4

%

4,141

\*

10X

Genomics,

Inc

112,552

13,459

Agilent

Technologies,

Inc

1,862,053

36,498

Amgen,

Inc

9,867,234

18,957

\*

Avantor,

Inc

382,363

62,999

\*

Biogen,

Inc

17,856,437

81,252

\*

BioMarin

Pharmaceutical,

Inc

7,038,861

9,224

\*

Bio-Rad

Laboratories,

Inc

(Class

A)

3,244,173

931,285

Bristol-Myers

Squibb

Co

72,146,649

32,422

Brooks

Automation,

Inc

1,439,537

50,896

\*

Catalent,

Inc

3,345,394

1,350

\*

Charles

River

Laboratories

International,

Inc

286,537

263,958

Danaher

Corp

66,430,310

196,078

\*

Elanco

Animal

Health,

Inc

2,586,269

68,063

Eli

Lilly

&

Co

24,644,932

62,683

\*

Exact

Sciences

Corp

2,180,115

19,168

\*

Exelixis,

Inc

317,805

547,127

Gilead

Sciences,

Inc

42,927,584

6,883

\*

Horizon

Therapeutics

Plc

428,949

68,843

\*

Illumina,

Inc

15,752,655

8,979

\*

Incyte

Corp

667,499

4,767

\*

Ionis

Pharmaceuticals,

Inc

210,701

26,811

\*

Jazz

Pharmaceuticals

plc

3,855,154

1,148,146

Johnson

&

Johnson

199,742,960

641,301

Merck

&

Co,

Inc

64,899,661

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

18,838

\*

Mirati

Therapeutics,

Inc

$

1,268,174

138,352

\*

Moderna,

Inc

20,798,456

2,288

\*

Natera,

Inc

107,444

109,070

Organon

&

Co

2,855,453

55,694

PerkinElmer,

Inc

7,439,604

58,349

Perrigo

Co

plc

2,350,298

2,465,456

Pfizer,

Inc

114,766,977

99,857

\*

QIAGEN

NV

4,349,771

38,457

\*

Regeneron

Pharmaceuticals,

Inc

28,794,679

6,973

\*

Repligen

Corp

1,272,503

160,714

Royalty

Pharma

plc

6,801,416

38,100

\*

Syneos

Health,

Inc

1,919,478

149,880

Thermo

Fisher

Scientific,

Inc

77,033,824

7,093

\*

Ultragenyx

Pharmaceutical,

Inc

286,983

19,240

\*

United

Therapeutics

Corp

4,435,397

6,276

\*

Vertex

Pharmaceuticals,

Inc

1,958,112

509,358

Viatris,

Inc

5,159,796

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

823,824,749

REAL

ESTATE

-

.5

%

70,548

Alexandria

Real

Estate

Equities,

Inc

10,250,624

127,451

American

Homes

Rent

4,070,785

46,360

American

Tower

Corp

9,605,328

114,295

Americold

Realty

Trust

2,771,654

61,975

Apartment

Income

REIT

Corp

2,381,699

61,165

AvalonBay

Communities,

Inc

10,711,215

69,232

Boston

Properties,

Inc

5,033,166

132,834

Brixmor

Property

Group,

Inc

2,830,693

42,875

Camden

Property

Trust

4,954,206

70,791

\*

CBRE

Group,

Inc

5,021,914

67,690

Cousins

Properties,

Inc

1,608,314

97,860

CubeSmart

4,097,398

124,391

Digital

Realty

Trust,

Inc

12,470,198

72,900

Douglas

Emmett,

Inc

1,282,311

18,008

EastGroup

Properties,

Inc

2,821,673

33,388

EPR

Properties

1,288,777

9,793

Equinix,

Inc

5,547,147

30,108

Equity

Lifestyle

Properties,

Inc

1,925,708

162,167

Equity

Residential

10,219,764

28,664

Essex

Property

Trust,

Inc

6,370,287

50,635

Extra

Space

Storage,

Inc

8,984,674

34,870

Federal

Realty

Investment

Trust

3,451,433

54,217

First

Industrial

Realty

Trust,

Inc

2,582,356

103,578

Gaming

and

Leisure

Properties,

Inc

5,191,329

166,541

Healthcare

Realty

Trust,

Inc

3,385,779

232,617

Healthpeak

Properties

Inc

5,520,001

47,360

Highwoods

Properties,

Inc

1,336,973

306,396

Host

Hotels

and

Resorts,

Inc

5,784,756

17,193

\*

Howard

Hughes

Corp

1,054,791

65,811

Hudson

Pacific

Properties

726,553

267,221

Invitation

Homes,

Inc

8,468,233

31,994

Iron

Mountain,

Inc

1,601,940

53,371

JBG

SMITH

Properties

1,050,341

20,972

\*

Jones

Lang

LaSalle,

Inc

3,336,435

50,345

Kilroy

Realty

Corp

2,151,745

266,912

Kimco

Realty

Corp

5,706,579

4,668

Lamar

Advertising

Co

430,530

36,995

Life

Storage,

Inc

4,092,017

256,612

Medical

Properties

Trust,

Inc

2,938,207

49,545

Mid-America

Apartment

Communities,

Inc

7,800,860

74,763

National

Retail

Properties,

Inc

3,142,289

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE—continued

37,157

National

Storage

Affiliates

Trust

$

1,585,118

101,834

Omega

Healthcare

Investors,

Inc

3,236,285

146,806

\*

Opendoor

Technologies,

Inc

380,228

96,510

Park

Hotels

&

Resorts,

Inc

1,262,351

401,683

Prologis,

Inc

44,486,392

14,107

Public

Storage,

Inc

4,369,643

63,958

Rayonier,

Inc

2,155,385

270,715

Realty

Income

Corp

16,857,423

73,842

Regency

Centers

Corp

4,468,179

75,186

Rexford

Industrial

Realty,

Inc

4,156,282

36,054

SBA

Communications

Corp

9,730,975

73,571

Simon

Property

Group,

Inc

8,017,768

27,352

SL

Green

Realty

Corp

1,085,327

58,580

Spirit

Realty

Capital,

Inc

2,274,661

112,826

STORE

Capital

Corp

3,587,867

52,530

Sun

Communities,

Inc

7,083,670

138,914

UDR,

Inc

5,523,221

175,305

Ventas,

Inc

6,859,685

413,981

VICI

Properties,

Inc

13,255,672

76,892

Vornado

Realty

Trust

1,813,882

203,192

Welltower,

Inc

12,402,840

56,894

\*,e

WeWork,

Inc

146,218

320,185

Weyerhaeuser

Co

9,903,322

82,769

WP

Carey,

Inc

6,315,275

23,928

\*

Zillow

Group,

Inc

(Class

A)

740,093

67,384

\*

Zillow

Group,

Inc

(Class

C)

2,079,470

TOTAL

REAL

ESTATE

357,777,914

RETAILING

-

.2

%

24,624

Advance

Auto

Parts,

Inc

4,676,590

14,799

\*

Autonation,

Inc

1,573,282

799

\*

AutoZone,

Inc

2,023,771

97,745

Bath

&

Body

Works,

Inc

3,262,728

60,466

Best

Buy

Co,

Inc

4,136,479

1,655

\*

Burlington

Stores,

Inc

236,599

62,084

\*

CarMax,

Inc

3,911,913

24,430

e

Dick's

Sporting

Goods,

Inc

2,779,157

64,205

\*

Dollar

Tree,

Inc

10,176,493

12,582

\*

DoorDash,

Inc

547,694

207,410

eBay,

Inc

8,263,214

117,528

\*

GameStop

Corp

(Class

A)

3,327,218

81,332

e

Gap,

Inc

916,612

55,871

Genuine

Parts

Co

9,937,216

189,685

Home

Depot,

Inc

56,171,419

52,019

Kohl's

Corp

1,557,969

5,340

\*

Leslie's,

Inc

74,974

12,476

Lithia

Motors,

Inc

(Class

A)

2,472,119

110,059

LKQ

Corp

6,123,683

38,429

Lowe's

Companies,

Inc

7,491,734

110,693

Macy's,

Inc

2,307,949

4,841

e

Nordstrom,

Inc

98,466

24,912

\*,e

Ollie's

Bargain

Outlet

Holdings,

Inc

1,395,072

16,279

\*

O'Reilly

Automotive,

Inc

13,628,290

11,762

Penske

Auto

Group,

Inc

1,312,874

35,226

\*,e

Petco

Health

&

Wellness

Co,

Inc

370,930

4,767

\*

RH

1,210,484

87,076

Ross

Stores,

Inc

8,332,302

91,139

Target

Corp

14,969,581

10,532

\*

Victoria's

Secret

&

Co

396,003

11,635

\*,e

Wayfair,

Inc

441,199

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

6,383

Williams-Sonoma,

Inc

$

790,407

TOTAL

RETAILING

174,914,421

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.2

%

150,200

\*

Advanced

Micro

Devices,

Inc

9,021,012

181,756

Analog

Devices,

Inc

25,922,041

22,109

\*

Cirrus

Logic,

Inc

1,483,956

46,589

\*

First

Solar,

Inc

6,781,961

20,733

\*

GLOBALFOUNDRIES,

Inc

1,175,561

1,790,076

Intel

Corp

50,891,861

371,679

Marvell

Technology,

Inc

14,748,223

34,117

Microchip

Technology,

Inc

2,106,383

387,421

Micron

Technology,

Inc

20,959,476

24,297

MKS

Instruments,

Inc

1,995,998

71,439

\*

ON

Semiconductor

Corp

4,388,498

44,097

\*

Qorvo,

Inc

3,795,870

70,416

Skyworks

Solutions,

Inc

6,056,480

6,516

Teradyne,

Inc

530,076

126,209

Texas

Instruments,

Inc

20,272,952

49,588

\*

Wolfspeed,

Inc

3,905,055

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

174,035,403

SOFTWARE

&

SERVICES

-

.1

%

76,993

\*,e

Affirm

Holdings,

Inc

1,545,250

70,282

\*

Akamai

Technologies,

Inc

6,208,009

52,502

Amdocs

Ltd

4,531,448

18,021

\*

Ansys,

Inc

3,985,524

14,184

Automatic

Data

Processing,

Inc

3,428,273

42,720

\*

Bill.Com

Holdings,

Inc

5,697,139

61,373

\*

Black

Knight,

Inc

3,711,225

231,345

\*

Block,

Inc

13,896,894

4,575

Broadridge

Financial

Solutions,

Inc

686,525

45,306

\*

CCC

Intelligent

Solutions

Holdings,

Inc

422,705

48,539

\*

Ceridian

HCM

Holding,

Inc

3,212,796

228,409

Cognizant

Technology

Solutions

Corp

(Class

A)

14,218,460

18,462

Concentrix

Corp

2,256,610

14,623

\*

Coupa

Software,

Inc

778,382

27,604

Dolby

Laboratories,

Inc

(Class

A)

1,845,051

3,604

\*

DoubleVerify

Holdings,

Inc

105,345

8,345

\*

Dropbox,

Inc

181,504

100,797

\*

DXC

Technology

Co

2,897,914

3,838

\*

Euronet

Worldwide,

Inc

322,430

267,249

Fidelity

National

Information

Services,

Inc

22,178,995

233,616

\*

Fiserv,

Inc

24,001,708

37,324

Genpact

Ltd

1,810,214

120,477

Global

Payments,

Inc

13,765,702

58,005

\*

GoDaddy,

Inc

4,663,602

36,069

\*

Guidewire

Software,

Inc

2,142,859

15,363

\*,e

Informatica,

Inc

297,428

129,074

International

Business

Machines

Corp

17,849,643

4,374

\*

Jamf

Holding

Corp

103,533

74,501

\*

Kyndryl

Holdings,

Inc

720,425

10,532

\*

Manhattan

Associates,

Inc

1,281,428

19,775

\*,e

nCino

OpCo,

Inc

622,517

52,755

\*

NCR

Corp

1,121,571

159,254

NortonLifelock,

Inc

3,587,993

44,154

\*

Nutanix,

Inc

1,209,820

56,416

\*

Okta,

Inc

3,166,066

203,940

Oracle

Corp

15,921,596

20,671

\*

Paycor

HCM,

Inc

629,845

348,819

\*

PayPal

Holdings,

Inc

29,154,292

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

7,111

\*

Procore

Technologies,

Inc

$

388,687

46,250

Roper

Technologies,

Inc

19,172,475

330,535

\*

Salesforce,

Inc

53,741,686

22,292

\*

SentinelOne,

Inc

509,149

8,591

\*

Snowflake,

Inc

1,377,137

95,147

SS&C

Technologies

Holdings,

Inc

4,892,459

25,824

Switch,

Inc

879,307

20,897

\*

Teradata

Corp

660,136

46,716

\*

Twilio,

Inc

3,474,269

2,320

\*

Tyler

Technologies,

Inc

750,126

148,329

\*

UiPath,

Inc

1,876,362

29,818

\*,e

Unity

Software,

Inc

879,631

36,248

\*

VeriSign,

Inc

7,266,274

46,936

VMware,

Inc

(Class

A)

5,281,708

111,859

Western

Union

Co

1,511,215

5,122

\*

WEX,

Inc

840,725

5,218

\*

Wix.com

Ltd

438,834

54,850

\*

Zoom

Video

Communications,

Inc

4,576,684

TOTAL

SOFTWARE

&

SERVICES

322,677,585

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.4

%

63,115

Amphenol

Corp

(Class

A)

4,786,010

27,357

\*

Arrow

Electronics,

Inc

2,770,170

41,127

Avnet,

Inc

1,652,894

66,983

\*

Ciena

Corp

3,208,486

1,819,286

Cisco

Systems,

Inc

82,650,163

5,248

Cognex

Corp

242,615

47,183

\*

Coherent

Corp

1,585,821

311,141

Corning,

Inc

10,009,406

92,954

Dell

Technologies,

Inc

3,569,434

25,923

\*

F5

Networks,

Inc

3,704,656

563,018

Hewlett

Packard

Enterprise

Co

8,034,267

241,058

HP,

Inc

6,658,022

14,531

\*

IPG

Photonics

Corp

1,244,725

9,163

Jabil

Inc

588,723

143,582

Juniper

Networks,

Inc

4,393,609

5,883

\*

Keysight

Technologies,

Inc

1,024,524

10,318

Littelfuse,

Inc

2,272,539

29,651

\*

Lumentum

Holdings,

Inc

2,207,517

71,192

Motorola

Solutions,

Inc

17,777,354

49,827

National

Instruments

Corp

1,902,395

18,503

SYNNEX

Corp

1,693,209

20,277

\*

Teledyne

Technologies,

Inc

8,069,840

109,768

\*

Trimble

Inc

6,603,643

1,860

e

Ubiquiti,

Inc

644,955

30,185

\*

Viasat,

Inc

1,236,378

25,216

Vontier

Corp

481,626

138,932

\*

Western

Digital

Corp

4,775,093

13,517

\*

Zebra

Technologies

Corp

(Class

A)

3,828,285

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

187,616,359

TELECOMMUNICATION

SERVICES

-

.1

%

3,132,179

AT&T,

Inc

57,099,623

107,225

\*

Frontier

Communications

Parent,

Inc

2,511,210

439,592

e

Lumen

Technologies,

Inc

3,235,397

259,511

\*

T-Mobile

US,

Inc

39,331,487

1,838,859

Verizon

Communications,

Inc

68,718,161

TOTAL

TELECOMMUNICATION

SERVICES

170,895,878

TRANSPORTATION

-

.5

%

52,562

\*

Alaska

Air

Group,

Inc

2,336,907

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TRANSPORTATION—continued

3,903

Amerco,

Inc

$

2,244,967

282,775

\*

American

Airlines

Group,

Inc

4,009,750

13,018

\*

Avis

Budget

Group,

Inc

3,078,236

37,895

CH

Robinson

Worldwide,

Inc

3,703,099

12,432

\*

Copa

Holdings

S.A.

(Class

A)

935,259

701,295

CSX

Corp

20,379,633

50,513

Expeditors

International

of

Washington,

Inc

4,942,697

105,187

FedEx

Corp

16,859,372

41,203

\*

GXO

Logistics,

Inc

1,505,558

89,174

\*

Hertz

Global

Holdings,

Inc

1,640,802

4,049

JB

Hunt

Transport

Services,

Inc

692,662

134,269

\*

JetBlue

Airways

Corp

1,079,523

26,200

\*

Kirby

Corp

1,827,450

69,127

Knight-Swift

Transportation

Holdings,

Inc

3,320,170

1,857

Landstar

System,

Inc

290,101

26,841

\*

Lyft,

Inc

(Class

A)

392,952

102,716

Norfolk

Southern

Corp

23,426,438

20,032

Ryder

System,

Inc

1,612,776

26,410

Schneider

National,

Inc

587,358

257,312

\*

Southwest

Airlines

Co

9,353,291

105,351

\*

Uber

Technologies,

Inc

2,799,176

136,002

\*

United

Airlines

Holdings

Inc

5,858,966

33,432

United

Parcel

Service,

Inc

(Class

B)

5,608,887

41,407

\*

XPO

Logistics,

Inc

2,142,398

TOTAL

TRANSPORTATION

120,628,428

UTILITIES

-

.5

%

239,546

AES

Corp

6,266,523

111,615

Alliant

Energy

Corp

5,822,955

112,701

Ameren

Corp

9,187,386

225,315

American

Electric

Power

Co,

Inc

19,809,695

79,676

American

Water

Works

Co,

Inc

11,580,110

58,499

Atmos

Energy

Corp

6,233,068

25,785

Avangrid,

Inc

1,048,934

55,901

Brookfield

Renewable

Corp

1,734,608

275,922

Centerpoint

Energy,

Inc

7,894,128

126,782

CMS

Energy

Corp

7,232,913

155,417

Consolidated

Edison,

Inc

13,670,479

140,634

Constellation

Energy

Corp

13,295,538

361,698

Dominion

Energy,

Inc

25,308,009

84,468

DTE

Energy

Co

9,469,708

335,518

Duke

Energy

Corp

31,263,567

164,643

Edison

International

9,885,166

88,893

Entergy

Corp

9,523,996

102,737

Essential

Utilities

Inc

4,543,030

97,010

Evergy,

Inc

5,930,221

150,921

Eversource

Energy

11,512,254

429,192

Exelon

Corp

16,562,519

237,799

FirstEnergy

Corp

8,967,400

49,154

Hawaiian

Electric

Industries,

Inc

1,869,818

20,761

Idacorp,

Inc

2,173,677

35,212

National

Fuel

Gas

Co

2,376,458

856,666

NextEra

Energy,

Inc

66,391,615

177,763

NiSource,

Inc

4,566,732

103,301

NRG

Energy,

Inc

4,586,564

83,737

OGE

Energy

Corp

3,067,286

679,278

\*

PG&E

Corp

10,141,621

48,823

Pinnacle

West

Capital

Corp

3,281,394

319,524

PPL

Corp

8,464,191

216,563

Public

Service

Enterprise

Group,

Inc

12,142,687

136,359

Sempra

Energy

20,582,028

Portfolio

of

investments

Large-Cap

Value

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

concluded

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

462,452

Southern

Co

$

30,281,357

91,146

UGI

Corp

3,220,188

78,952

Vistra

Energy

Corp

1,813,527

135,902

WEC

Energy

Group,

Inc

12,411,930

238,847

Xcel

Energy,

Inc

15,551,328

TOTAL

UTILITIES

439,664,608

TOTAL

COMMON

STOCKS

7,956,495,994

(Cost

$6,047,397,077)

SHORT-TERM

INVESTMENTS

-

0.3%

RATE

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.3

%

22,144,655

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

%

22,144,655

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

22,144,655

TOTAL

SHORT-TERM

INVESTMENTS

22,144,655

(Cost

$22,144,655)

TOTAL

INVESTMENTS

-

100.3%

7,978,640,649

(Cost

$6,069,541,732)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.3)%

(21,936,550)

NET

ASSETS

-

100.0%

$

7,956,704,099

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$28,982,453.

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.0%

AUTOMOBILES

&

COMPONENTS

-

.3

%

55,245

\*

Aptiv

plc

$

5,031,162

52,740

BorgWarner,

Inc

1,979,332

828,979

Ford

Motor

Co

11,083,449

299,863

General

Motors

Co

11,769,623

555,523

\*

Tesla,

Inc

126,403,704

TOTAL

AUTOMOBILES

&

COMPONENTS

156,267,270

BANKS

-

.8

%

1,454,013

Bank

of

America

Corp

52,402,629

402,741

Citigroup,

Inc

18,469,702

100,283

Citizens

Financial

Group,

Inc

4,101,575

27,942

Comerica,

Inc

1,969,911

137,727

Fifth

Third

Bancorp

4,915,477

37,791

First

Republic

Bank

4,538,699

297,008

Huntington

Bancshares,

Inc

4,508,581

611,804

JPMorgan

Chase

&

Co

77,013,888

193,826

Keycorp

3,463,671

36,834

M&T

Bank

Corp

6,201,741

84,804

PNC

Financial

Services

Group,

Inc

13,723,831

200,614

Regions

Financial

Corp

4,403,477

13,458

Signature

Bank

2,133,497

12,526

\*

SVB

Financial

Group

2,893,005

275,685

Truist

Financial

Corp

12,347,931

279,809

US

Bancorp

11,877,892

790,951

Wells

Fargo

&

Co

36,375,836

32,129

Zions

Bancorporation

1,668,780

TOTAL

BANKS

263,010,123

CAPITAL

GOODS

-

.7

%

115,215

3M

Co

14,492,895

29,169

A.O.

Smith

Corp

1,597,878

18,121

Allegion

plc

1,898,537

48,066

Ametek,

Inc

6,232,238

116,860

\*

Boeing

Co

16,653,719

176,030

Carrier

Global

Corp

6,998,953

109,466

Caterpillar,

Inc

23,695,010

28,774

Cummins,

Inc

7,035,531

57,979

Deere

&

Co

22,949,248

28,458

Dover

Corp

3,719,176

83,048

Eaton

Corp

12,463,013

122,305

Emerson

Electric

Co

10,591,613

121,051

Fastenal

Co

5,850,395

72,756

Fortive

Corp

4,649,108

27,977

Fortune

Brands

Home

&

Security,

Inc

1,687,573

13,740

\*

Generac

Holdings,

Inc

1,592,603

47,260

General

Dynamics

Corp

11,805,548

228,273

General

Electric

Co

17,761,922

140,861

Honeywell

International,

Inc

28,738,461

80,676

Howmet

Aerospace,

Inc

2,868,032

8,257

Huntington

Ingalls

2,122,627

16,103

IDEX

Corp

3,579,858

58,509

Illinois

Tool

Works,

Inc

12,493,427

82,315

Ingersoll

Rand,

Inc

4,156,908

144,178

Johnson

Controls

International

plc

8,339,256

39,593

L3Harris

Technologies,

Inc

9,758,487

49,158

Lockheed

Martin

Corp

23,924,215

50,263

Masco

Corp

2,325,669

10,954

Nordson

Corp

2,464,650

30,221

Northrop

Grumman

Corp

16,591,631

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

89,100

Otis

Worldwide

Corp

$

6,294,024

73,252

PACCAR,

Inc

7,092,991

26,085

Parker-Hannifin

Corp

7,580,823

38,310

Pentair

plc

1,645,414

29,722

Quanta

Services,

Inc

4,221,713

308,501

Raytheon

Technologies

Corp

29,252,065

24,021

Rockwell

Automation,

Inc

6,132,561

10,967

Snap-On,

Inc

2,435,222

33,061

Stanley

Black

&

Decker,

Inc

2,594,958

43,484

Textron,

Inc

2,976,045

47,503

Trane

Technologies

plc

7,582,904

10,595

TransDigm

Group,

Inc

6,100,177

14,561

\*

United

Rentals,

Inc

4,597,053

9,351

W.W.

Grainger,

Inc

5,464,257

39,041

Westinghouse

Air

Brake

Technologies

Corp

3,641,744

37,093

Xylem,

Inc

3,799,436

TOTAL

CAPITAL

GOODS

390,449,568

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.8

%

18,161

Cintas

Corp

7,764,735

44,042

\*

Copart,

Inc

5,065,711

81,965

\*

CoStar

Group,

Inc

6,780,145

25,753

Equifax,

Inc

4,366,164

26,819

Jacobs

Solutions,

Inc

3,090,085

28,147

Leidos

Holdings,

Inc

2,859,454

43,581

Republic

Services,

Inc

5,779,712

22,494

Robert

Half

International,

Inc

1,719,891

49,762

Rollins,

Inc

2,093,985

32,188

Verisk

Analytics,

Inc

5,884,932

78,622

Waste

Management,

Inc

12,451,366

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

57,856,180

CONSUMER

DURABLES

&

APPAREL

-

.7

%

62,412

DR

Horton,

Inc

4,798,235

30,654

Garmin

Ltd

2,698,778

26,164

Hasbro,

Inc

1,707,201

54,517

Lennar

Corp

(Class

A)

4,399,522

11,347

\*

Mohawk

Industries,

Inc

1,075,128

81,626

Newell

Brands

Inc

1,127,255

264,451

Nike,

Inc

(Class

B)

24,509,319

642

\*

NVR,

Inc

2,720,635

50,763

Pulte

Homes,

Inc

2,030,012

8,840

e

Ralph

Lauren

Corp

819,380

51,575

Tapestry,

Inc

1,633,896

72,161

VF

Corp

2,038,548

11,311

Whirlpool

Corp

1,563,633

TOTAL

CONSUMER

DURABLES

&

APPAREL

51,121,542

CONSUMER

SERVICES

-

.0

%

8,327

\*

Booking

Holdings,

Inc

15,567,160

42,580

\*

Caesars

Entertainment,

Inc

1,862,023

221,469

\*,e

Carnival

Corp

2,006,509

5,737

\*

Chipotle

Mexican

Grill,

Inc

(Class

A)

8,595,919

26,503

Darden

Restaurants,

Inc

3,793,639

7,397

Domino's

Pizza,

Inc

2,457,579

31,628

\*

Expedia

Group,

Inc

2,956,269

56,135

Hilton

Worldwide

Holdings,

Inc

7,592,820

71,901

\*

Las

Vegas

Sands

Corp

2,732,957

57,081

Marriott

International,

Inc

(Class

A)

9,139,239

153,491

McDonald's

Corp

41,850,856

67,636

MGM

Resorts

International

2,405,813

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

82,996

\*

Norwegian

Cruise

Line

Holdings

Ltd

$

1,401,803

44,840

\*

Royal

Caribbean

Cruises

Ltd

2,393,559

238,671

Starbucks

Corp

20,666,522

23,703

\*

Wynn

Resorts

Ltd

1,514,622

60,004

Yum!

Brands,

Inc

7,095,473

TOTAL

CONSUMER

SERVICES

134,032,762

DIVERSIFIED

FINANCIALS

-

.1

%

125,061

American

Express

Co

18,565,306

22,642

Ameriprise

Financial,

Inc

6,999,095

148,501

Bank

of

New

York

Mellon

Corp

6,253,377

376,893

\*

Berkshire

Hathaway,

Inc

(Class

B)

111,217,355

31,544

BlackRock,

Inc

20,374,585

79,127

Capital

One

Financial

Corp

8,389,045

22,920

CBOE

Global

Markets,

Inc

2,853,540

318,849

Charles

Schwab

Corp

25,402,700

74,538

CME

Group,

Inc

12,917,435

58,000

Discover

Financial

Services

6,058,680

8,106

Factset

Research

Systems,

Inc

3,449,022

55,201

Franklin

Resources,

Inc

1,294,463

71,184

Goldman

Sachs

Group,

Inc

24,523,600

116,520

Intercontinental

Exchange

Group,

Inc

11,135,816

107,223

Invesco

Ltd

1,642,656

8,408

MarketAxess

Holdings,

Inc

2,051,888

33,334

Moody's

Corp

8,829,177

277,148

Morgan

Stanley

22,773,251

16,731

MSCI,

Inc

(Class

A)

7,844,497

71,448

Nasdaq

Inc

4,446,924

43,909

Northern

Trust

Corp

3,703,724

39,357

Raymond

James

Financial,

Inc

4,649,636

71,230

S&P

Global,

Inc

22,882,638

76,962

State

Street

Corp

5,695,188

105,136

Synchrony

Financial

3,738,636

46,051

T

Rowe

Price

Group,

Inc

4,888,774

TOTAL

DIVERSIFIED

FINANCIALS

352,581,008

ENERGY

-

.3

%

69,133

APA

Corp

3,142,786

209,503

Baker

Hughes

Co

5,794,853

169,912

Cabot

Oil

&

Gas

Corp

5,289,361

375,822

Chevron

Corp

67,986,200

265,391

ConocoPhillips

33,463,151

135,518

Devon

Energy

Corp

10,482,317

36,794

Diamondback

Energy,

Inc

5,780,705

122,160

EOG

Resources,

Inc

16,677,283

76,533

EQT

Corp

3,202,141

869,080

d

Exxon

Mobil

Corp

96,302,755

192,855

Halliburton

Co

7,023,779

58,038

Hess

Corp

8,188,001

414,314

Kinder

Morgan,

Inc

7,507,370

150,481

Marathon

Oil

Corp

4,582,147

103,168

Marathon

Petroleum

Corp

11,721,948

154,207

Occidental

Petroleum

Corp

11,195,428

91,796

ONEOK,

Inc

5,445,339

98,886

Phillips

10,312,821

49,390

Pioneer

Natural

Resources

Co

12,664,090

294,369

Schlumberger

Ltd

15,316,019

46,919

Targa

Resources

Investments,

Inc

3,207,852

83,655

Valero

Energy

Corp

10,502,885

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

249,148

Williams

Cos,

Inc

$

8,154,614

TOTAL

ENERGY

363,943,845

FOOD

&

STAPLES

RETAILING

-

.6

%

92,524

Costco

Wholesale

Corp

46,400,786

133,335

Kroger

Co

6,305,412

106,324

SYSCO

Corp

9,203,405

146,983

Walgreens

Boots

Alliance,

Inc

5,364,880

297,801

Walmart,

Inc

42,386,016

TOTAL

FOOD

&

STAPLES

RETAILING

109,660,499

FOOD,

BEVERAGE

&

TOBACCO

-

.7

%

375,960

Altria

Group,

Inc

17,395,669

115,382

Archer-Daniels-Midland

Co

11,189,746

36,964

Brown-Forman

Corp

(Class

B)

2,513,552

41,816

Campbell

Soup

Co

2,212,485

813,047

Coca-Cola

Co

48,660,863

96,282

ConAgra

Brands,

Inc

3,533,549

33,211

Constellation

Brands,

Inc

(Class

A)

8,205,774

124,120

General

Mills,

Inc

10,125,710

31,206

Hershey

Co

7,451,057

62,731

Hormel

Foods

Corp

2,913,855

22,892

J.M.

Smucker

Co

3,448,909

54,465

Kellogg

Co

4,184,001

175,803

Keurig

Dr

Pepper,

Inc

6,828,188

164,869

Kraft

Heinz

Co

6,342,510

30,548

Lamb

Weston

Holdings,

Inc

2,633,849

52,927

McCormick

&

Co,

Inc

4,162,179

42,797

Molson

Coors

Brewing

Co

(Class

B)

2,158,253

287,961

Mondelez

International,

Inc

17,703,842

80,694

\*

Monster

Beverage

Corp

7,562,642

288,252

PepsiCo,

Inc

52,340,798

322,749

Philip

Morris

International,

Inc

29,644,496

58,365

Tyson

Foods,

Inc

(Class

A)

3,989,248

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

255,201,175

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.4

%

365,431

Abbott

Laboratories

36,155,743

9,473

\*

Abiomed,

Inc

2,387,954

14,853

\*

Align

Technology,

Inc

2,885,938

32,413

AmerisourceBergen

Corp

5,095,972

104,754

Baxter

International,

Inc

5,693,380

59,431

Becton

Dickinson

&

Co

14,023,933

298,585

\*

Boston

Scientific

Corp

12,871,999

57,815

Cardinal

Health,

Inc

4,388,159

119,307

\*

Centene

Corp

10,156,605

63,127

Cigna

Corp

20,393,809

9,945

Cooper

Cos,

Inc

2,718,864

271,721

CVS

Health

Corp

25,731,979

14,118

\*

DaVita,

Inc

1,030,755

44,965

Dentsply

Sirona,

Inc

1,385,821

82,641

\*

Dexcom,

Inc

9,981,380

127,769

\*

Edwards

Lifesciences

Corp

9,254,309

50,022

Elevance

Health,

Inc

27,350,529

45,788

HCA

Healthcare,

Inc

9,957,516

27,628

\*

Henry

Schein,

Inc

1,891,413

53,762

\*

Hologic,

Inc

3,645,064

26,541

Humana,

Inc

14,812,001

17,123

\*

IDEXX

Laboratories,

Inc

6,158,801

74,711

\*

Intuitive

Surgical,

Inc

18,414,020

18,777

Laboratory

Corp

of

America

Holdings

4,165,865

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

30,174

McKesson

Corp

$

11,748,850

277,394

Medtronic

plc

24,227,592

11,824

\*

Molina

Healthcare,

Inc

4,243,161

24,653

Quest

Diagnostics,

Inc

3,541,403

30,839

Resmed,

Inc

6,898,376

20,742

STERIS

plc

3,579,654

69,863

Stryker

Corp

16,015,394

10,022

Teleflex,

Inc

2,150,320

195,308

UnitedHealth

Group,

Inc

108,425,236

14,470

Universal

Health

Services,

Inc

(Class

B)

1,676,639

43,891

Zimmer

Biomet

Holdings,

Inc

4,975,045

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

438,033,479

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.6

%

49,708

Church

&

Dwight

Co,

Inc

3,684,854

24,885

Clorox

Co

3,634,206

173,636

Colgate-Palmolive

Co

12,821,282

48,647

Estee

Lauder

Cos

(Class

A)

9,753,237

70,783

Kimberly-Clark

Corp

8,809,652

499,415

Procter

&

Gamble

Co

67,256,218

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

105,959,449

INSURANCE

-

.4

%

120,025

Aflac,

Inc

7,814,828

56,488

Allstate

Corp

7,131,610

158,878

American

International

Group,

Inc

9,056,046

44,321

Aon

plc

12,475,918

77,039

\*

Arch

Capital

Group

Ltd

4,429,743

44,072

Arthur

J. Gallagher

&

Co

8,244,990

12,107

Assurant,

Inc

1,644,857

47,780

Brown

&

Brown,

Inc

2,808,986

87,069

Chubb

Ltd

18,710,257

33,370

Cincinnati

Financial

Corp

3,447,788

7,745

Everest

Re

Group

Ltd

2,499,002

18,197

Globe

Life,

Inc

2,102,117

67,007

Hartford

Financial

Services

Group,

Inc

4,851,977

33,892

Lincoln

National

Corp

1,825,762

40,997

Loews

Corp

2,337,649

104,830

Marsh

&

McLennan

Cos,

Inc

16,928,997

142,601

Metlife,

Inc

10,439,819

50,854

Principal

Financial

Group

4,481,763

121,729

Progressive

Corp

15,630,004

76,727

Prudential

Financial,

Inc

8,070,913

48,959

Travelers

Cos,

Inc

9,030,977

43,333

W.R.

Berkley

Corp

3,223,109

23,381

Willis

Towers

Watson

plc

5,101,968

TOTAL

INSURANCE

162,289,080

MATERIALS

-

.5

%

46,208

Air

Products

&

Chemicals,

Inc

11,570,483

24,503

Albemarle

Corp

6,857,655

307,489

Amcor

plc

3,560,723

17,087

Avery

Dennison

Corp

2,897,101

66,037

Ball

Corp

3,261,567

21,757

Celanese

Corp

(Series

A)

2,091,283

43,054

CF

Industries

Holdings,

Inc

4,574,918

147,977

Corteva,

Inc

9,668,817

151,102

Dow,

Inc

7,062,508

104,925

DuPont

de

Nemours,

Inc

6,001,710

26,022

Eastman

Chemical

Co

1,998,750

50,884

Ecolab,

Inc

7,992,350

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

26,013

FMC

Corp

$

3,092,946

293,181

Freeport-McMoRan,

Inc

(Class

B)

9,290,906

54,204

International

Flavors

&

Fragrances,

Inc

5,290,852

76,930

International

Paper

Co

2,585,617

103,882

Linde

plc

30,889,313

53,953

LyondellBasell

Industries

NV

4,124,707

12,685

Martin

Marietta

Materials,

Inc

4,261,906

75,119

Mosaic

Co

4,037,646

165,420

Newmont

Goldcorp

Corp

7,000,574

53,918

Nucor

Corp

7,083,747

18,407

Packaging

Corp

of

America

2,212,706

47,887

PPG

Industries,

Inc

5,467,738

31,418

Sealed

Air

Corp

1,496,125

48,698

Sherwin-Williams

Co

10,958,511

28,032

Vulcan

Materials

Co

4,588,838

53,922

WestRock

Co

1,836,583

TOTAL

MATERIALS

171,756,580

MEDIA

&

ENTERTAINMENT

-

.1

%

150,031

Activision

Blizzard,

Inc

10,922,257

1,250,903

\*

Alphabet,

Inc

(Class

A)

118,222,842

1,118,657

\*

Alphabet,

Inc

(Class

C)

105,892,072

23,276

\*

Charter

Communications,

Inc

8,556,723

916,256

Comcast

Corp

(Class

A)

29,081,965

62,561

\*

DISH

Network

Corp

(Class

A)

932,784

54,657

Electronic

Arts,

Inc

6,884,596

62,585

Fox

Corp

(Class

A)

1,806,829

31,642

Fox

Corp

(Class

B)

860,662

81,983

Interpublic

Group

of

Cos,

Inc

2,442,273

28,867

\*

Live

Nation,

Inc

2,298,102

58,828

\*

Match

Group,

Inc

2,541,370

475,590

\*

Meta

Platforms,

Inc

44,305,964

92,645

\*

Netflix,

Inc

27,041,223

78,343

News

Corp

(Class

A)

1,321,646

23,960

News

Corp

(Class

B)

410,435

41,069

Omnicom

Group,

Inc

2,987,770

114,652

Paramount

Global

(Class

B)

2,100,425

33,285

\*

Take-Two

Interactive

Software,

Inc

3,943,607

380,381

\*

Walt

Disney

Co

40,525,792

458,045

\*

Warner

Bros

Discovery,

Inc

5,954,585

TOTAL

MEDIA

&

ENTERTAINMENT

419,033,922

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.8

%

368,638

AbbVie,

Inc

53,968,603

62,397

Agilent

Technologies,

Inc

8,632,625

111,431

Amgen,

Inc

30,125,371

30,470

\*

Biogen,

Inc

8,636,417

4,656

\*

Bio-Rad

Laboratories,

Inc

(Class

A)

1,637,562

7,904

Bio-Techne

Corp

2,341,639

444,952

Bristol-Myers

Squibb

Co

34,470,431

36,312

\*

Catalent,

Inc

2,386,788

10,113

\*

Charles

River

Laboratories

International,

Inc

2,146,484

136,590

Danaher

Corp

34,375,605

164,457

Eli

Lilly

&

Co

59,548,235

260,755

Gilead

Sciences,

Inc

20,458,837

33,025

\*

Illumina,

Inc

7,556,780

39,212

\*

Incyte

Corp

2,915,020

39,083

\*

IQVIA

Holdings,

Inc

8,194,533

548,683

Johnson

&

Johnson

95,454,382

528,075

Merck

&

Co,

Inc

53,441,190

4,618

\*

Mettler-Toledo

International,

Inc

5,841,447

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

71,026

\*

Moderna,

Inc

$

10,677,339

57,515

Organon

&

Co

1,505,743

25,599

PerkinElmer,

Inc

3,419,514

1,169,748

Pfizer,

Inc

54,451,769

22,490

\*

Regeneron

Pharmaceuticals,

Inc

16,839,388

81,731

Thermo

Fisher

Scientific,

Inc

42,007,282

53,396

\*

Vertex

Pharmaceuticals,

Inc

16,659,552

265,956

Viatris,

Inc

2,694,134

12,266

\*

Waters

Corp

3,669,619

15,424

West

Pharmaceutical

Services,

Inc

3,549,062

98,175

Zoetis,

Inc

14,802,827

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

602,408,178

REAL

ESTATE

-

.6

%

30,872

Alexandria

Real

Estate

Equities,

Inc

4,485,702

97,263

American

Tower

Corp

20,151,921

28,084

AvalonBay

Communities,

Inc

4,918,070

30,203

Boston

Properties,

Inc

2,195,758

22,243

Camden

Property

Trust

2,570,179

67,569

\*

CBRE

Group,

Inc

4,793,345

89,985

Crown

Castle

International

Corp

11,991,401

59,384

Digital

Realty

Trust,

Inc

5,953,246

18,819

Equinix,

Inc

10,659,834

69,842

Equity

Residential

4,401,443

13,822

Essex

Property

Trust,

Inc

3,071,801

28,209

Extra

Space

Storage,

Inc

5,005,405

16,951

Federal

Realty

Investment

Trust

1,677,810

118,865

Healthpeak

Properties

Inc

2,820,666

150,719

Host

Hotels

and

Resorts,

Inc

2,845,575

119,794

Invitation

Homes,

Inc

3,796,272

62,580

Iron

Mountain,

Inc

3,133,381

131,044

Kimco

Realty

Corp

2,801,721

24,060

Mid-America

Apartment

Communities,

Inc

3,788,247

191,461

Prologis,

Inc

21,204,306

32,681

Public

Storage,

Inc

10,122,940

127,825

Realty

Income

Corp

7,959,663

33,293

Regency

Centers

Corp

2,014,559

22,289

SBA

Communications

Corp

6,015,801

69,310

Simon

Property

Group,

Inc

7,553,404

62,178

UDR,

Inc

2,472,197

83,794

Ventas,

Inc

3,278,859

200,304

VICI

Properties,

Inc

6,413,734

37,541

Vornado

Realty

Trust

885,592

95,751

Welltower,

Inc

5,844,641

151,510

Weyerhaeuser

Co

4,686,204

TOTAL

REAL

ESTATE

179,513,677

RETAILING

-

.8

%

12,960

Advance

Auto

Parts,

Inc

2,461,363

1,848,857

\*

Amazon.com,

Inc

189,396,911

3,996

\*

AutoZone,

Inc

10,121,388

49,358

Bath

&

Body

Works,

Inc

1,647,570

43,681

Best

Buy

Co,

Inc

2,988,217

33,507

\*

CarMax,

Inc

2,111,276

47,520

Dollar

General

Corp

12,119,976

43,690

\*

Dollar

Tree,

Inc

6,924,865

112,707

eBay,

Inc

4,490,247

25,483

\*

Etsy,

Inc

2,393,109

29,457

Genuine

Parts

Co

5,239,222

214,089

Home

Depot,

Inc

63,398,176

57,338

LKQ

Corp

3,190,286

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

132,286

Lowe's

Companies,

Inc

$

25,789,156

13,585

\*

O'Reilly

Automotive,

Inc

11,372,954

8,495

Pool

Corp

2,584,434

72,626

Ross

Stores,

Inc

6,949,582

95,932

Target

Corp

15,756,831

245,372

TJX

Companies,

Inc

17,691,321

23,052

Tractor

Supply

Co

5,066,138

10,597

\*

Ulta

Beauty,

Inc

4,444,064

TOTAL

RETAILING

396,137,086

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.7

%

336,204

\*

Advanced

Micro

Devices,

Inc

20,192,412

109,129

Analog

Devices,

Inc

15,563,978

181,258

Applied

Materials,

Inc

16,003,269

84,184

Broadcom,

Inc

39,576,582

28,051

\*

Enphase

Energy,

Inc

8,611,657

857,254

Intel

Corp

24,371,731

29,353

KLA

Corp

9,288,757

28,119

Lam

Research

Corp

11,382,009

115,480

Microchip

Technology,

Inc

7,129,735

228,261

Micron

Technology,

Inc

12,348,920

9,276

Monolithic

Power

Systems,

Inc

3,148,738

522,332

NVIDIA

Corp

70,499,150

55,032

NXP

Semiconductors

NV

8,039,075

90,104

\*

ON

Semiconductor

Corp

5,535,089

21,803

\*

Qorvo,

Inc

1,876,802

234,145

QUALCOMM,

Inc

27,549,501

33,436

Skyworks

Solutions,

Inc

2,875,830

11,868

\*

SolarEdge

Technologies,

Inc

2,729,996

34,989

Teradyne,

Inc

2,846,355

190,996

Texas

Instruments,

Inc

30,679,688

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

320,249,274

SOFTWARE

&

SERVICES

-

.6

%

132,172

Accenture

plc

37,523,631

97,568

\*

Adobe,

Inc

31,075,408

33,360

\*

Akamai

Technologies,

Inc

2,946,689

18,198

\*

Ansys,

Inc

4,024,670

45,220

\*

Autodesk,

Inc

9,690,646

86,470

Automatic

Data

Processing,

Inc

20,899,799

24,010

Broadridge

Financial

Solutions,

Inc

3,602,941

57,073

\*

Cadence

Design

Systems,

Inc

8,640,281

31,630

\*

Ceridian

HCM

Holding,

Inc

2,093,590

107,267

Cognizant

Technology

Solutions

Corp

(Class

A)

6,677,371

47,282

\*

DXC

Technology

Co

1,359,357

11,952

\*

EPAM

Systems,

Inc

4,183,200

126,757

Fidelity

National

Information

Services,

Inc

10,519,563

132,323

\*

Fiserv,

Inc

13,594,865

16,029

\*

FleetCor

Technologies,

Inc

2,983,317

137,287

\*

Fortinet,

Inc

7,847,325

16,320

\*

Gartner,

Inc

4,927,334

57,391

Global

Payments,

Inc

6,557,496

188,493

International

Business

Machines

Corp

26,066,697

58,960

Intuit,

Inc

25,205,400

14,549

Jack

Henry

&

Associates,

Inc

2,896,124

178,090

Mastercard,

Inc

(Class

A)

58,445,576

1,555,849

Microsoft

Corp

361,159,228

125,151

NortonLifelock,

Inc

2,819,652

317,302

Oracle

Corp

24,771,767

67,663

Paychex,

Inc

8,005,209

10,237

\*

Paycom

Software,

Inc

3,542,002

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

241,789

\*

PayPal

Holdings,

Inc

$

20,208,725

21,484

\*

PTC,

Inc

2,531,460

22,119

Roper

Technologies,

Inc

9,169,210

207,256

\*

Salesforce,

Inc

33,697,753

42,307

\*

ServiceNow,

Inc

17,800,247

32,303

\*

Synopsys,

Inc

9,450,243

8,193

\*

Tyler

Technologies,

Inc

2,649,043

19,945

\*

VeriSign,

Inc

3,998,175

341,294

Visa,

Inc

(Class

A)

70,702,465

TOTAL

SOFTWARE

&

SERVICES

862,266,459

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.8

%

124,800

Amphenol

Corp

(Class

A)

9,463,584

3,151,115

Apple,

Inc

483,191,974

51,002

\*

Arista

Networks,

Inc

6,164,102

27,764

CDW

Corp

4,797,897

864,542

Cisco

Systems,

Inc

39,276,143

156,625

Corning,

Inc

5,038,626

12,335

\*

F5

Networks,

Inc

1,762,795

268,587

Hewlett

Packard

Enterprise

Co

3,832,736

188,355

HP,

Inc

5,202,365

67,725

Juniper

Networks,

Inc

2,072,385

37,239

\*

Keysight

Technologies,

Inc

6,485,172

34,636

Motorola

Solutions,

Inc

8,648,956

46,030

NetApp,

Inc

3,188,498

41,069

Seagate

Technology

Holdings

plc

2,039,487

66,553

TE

Connectivity

Ltd

8,134,773

9,850

\*

Teledyne

Technologies,

Inc

3,920,103

52,825

\*

Trimble

Inc

3,177,952

62,765

\*

Western

Digital

Corp

2,157,233

10,843

\*

Zebra

Technologies

Corp

(Class

A)

3,070,954

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

601,625,735

TELECOMMUNICATION

SERVICES

-

.2

%

1,482,857

AT&T,

Inc

27,032,483

207,995

e

Lumen

Technologies,

Inc

1,530,843

125,977

\*

T-Mobile

US,

Inc

19,093,074

869,103

Verizon

Communications,

Inc

32,478,379

TOTAL

TELECOMMUNICATION

SERVICES

80,134,779

TRANSPORTATION

-

.6

%

26,518

\*

Alaska

Air

Group,

Inc

1,178,990

141,481

\*

American

Airlines

Group,

Inc

2,006,200

26,681

CH

Robinson

Worldwide,

Inc

2,607,267

445,466

CSX

Corp

12,945,242

125,483

\*

Delta

Air

Lines,

Inc

4,257,638

34,442

Expeditors

International

of

Washington,

Inc

3,370,150

48,845

FedEx

Corp

7,828,877

16,927

JB

Hunt

Transport

Services,

Inc

2,895,702

48,794

Norfolk

Southern

Corp

11,128,448

18,916

Old

Dominion

Freight

Line

5,194,334

124,321

\*

Southwest

Airlines

Co

4,519,068

130,402

Union

Pacific

Corp

25,707,450

71,045

\*

United

Airlines

Holdings

Inc

3,060,619

152,810

United

Parcel

Service,

Inc

(Class

B)

25,636,934

TOTAL

TRANSPORTATION

112,336,919

UTILITIES

-

.9

%

135,860

AES

Corp

3,554,098

54,062

Alliant

Energy

Corp

2,820,415

53,770

Ameren

Corp

4,383,330

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

103,804

American

Electric

Power

Co,

Inc

$

9,126,448

37,764

American

Water

Works

Co,

Inc

5,488,620

29,968

Atmos

Energy

Corp

3,193,090

134,761

Centerpoint

Energy,

Inc

3,855,512

60,049

CMS

Energy

Corp

3,425,795

74,538

Consolidated

Edison,

Inc

6,556,362

68,515

Constellation

Energy

Corp

6,477,408

172,176

Dominion

Energy,

Inc

12,047,155

40,094

DTE

Energy

Co

4,494,938

159,705

Duke

Energy

Corp

14,881,312

78,706

Edison

International

4,725,508

42,172

Entergy

Corp

4,518,308

49,376

Evergy,

Inc

3,018,355

72,048

Eversource

Energy

5,495,821

205,250

Exelon

Corp

7,920,597

116,302

FirstEnergy

Corp

4,385,748

410,423

NextEra

Energy,

Inc

31,807,782

82,088

NiSource,

Inc

2,108,841

50,054

NRG

Energy,

Inc

2,222,398

333,328

\*

PG&E

Corp

4,976,587

25,555

Pinnacle

West

Capital

Corp

1,717,552

156,791

PPL

Corp

4,153,394

103,079

Public

Service

Enterprise

Group,

Inc

5,779,640

66,501

Sempra

Energy

10,037,661

220,633

Southern

Co

14,447,049

65,704

WEC

Energy

Group,

Inc

6,000,746

113,851

Xcel

Energy,

Inc

7,412,839

TOTAL

UTILITIES

201,033,309

TOTAL

COMMON

STOCKS

6,786,901,898

(Cost

$3,255,784,779)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

0.9%

GOVERNMENT

AGENCY

DEBT

-

.3

%

$

10,000,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

12/16/22

9,951,573

10,000,000

FHLB

.000

01/18/23

9,912,698

TOTAL

GOVERNMENT

AGENCY

DEBT

19,864,271

REPURCHASE

AGREEMENT

-

.5

%

33,975,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

33,975,000

TOTAL

REPURCHASE

AGREEMENT

33,975,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.1

%

4,174,123

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

4,174,123

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

4,174,123

TOTAL

SHORT-TERM

INVESTMENTS

58,013,394

(Cost

$58,018,148)

TOTAL

INVESTMENTS

-

99.9%

6,844,915,292

(Cost

$3,313,802,927)

OTHER

ASSETS

&

LIABILITIES,

NET

-

0.1%

8,845,527

NET

ASSETS

-

100.0%

$

6,853,760,819

Portfolio

of

investments

S&P

500

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

\*

Non-income

producing

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

d

All

or

a

portion

of

these

securities

have

been

segregated

to

cover

margin

requirements

on

open

futures

contracts.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$4,313,106.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$33,975,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.000%

and

maturity

date

2/15/25,

valued

at

$34,654,539.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

S&P

500

E

Mini

Index

12/16/22

$

50,989,784

$

52,808,800

$

1,819,016

Small-Cap

Blend

Index

Fund

October

31,

2022

Portfolio

of

investments

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMON

STOCKS

-

99.4%

AUTOMOBILES

&

COMPONENTS

-

.6

%

131,501

\*

Adient

plc

$

4,599,905

156,603

\*

American

Axle

&

Manufacturing

Holdings,

Inc

1,517,483

198,303

\*,e

Canoo,

Inc

271,675

256,971

\*,e

Cenntro

Electric

Group

Ltd

262,110

182,021

Dana

Inc

2,905,055

35,817

\*

Dorman

Products,

Inc

2,923,383

139,009

\*,e

Faraday

Future

Intelligent

Electric,

Inc

75,079

221,819

\*,e

Fisker,

Inc

1,807,825

58,118

\*

Fox

Factory

Holding

Corp

5,105,666

46,024

\*

Gentherm,

Inc

2,688,722

383,599

\*

Goodyear

Tire

&

Rubber

Co

4,871,707

71,715

\*,e

Holley,

Inc

285,426

34,253

LCI

Industries,

Inc

3,634,586

214,765

\*,e

Lordstown

Motors

Corp

388,725

335,298

\*,e

Luminar

Technologies,

Inc

2,712,561

65,066

\*

Modine

Manufacturing

Co

1,165,983

26,129

\*

Motorcar

Parts

of

America,

Inc

496,451

467,369

\*,e

Mullen

Automotive,

Inc

222,655

29,265

Patrick

Industries,

Inc

1,337,703

182,670

\*

Solid

Power,

Inc

1,024,779

28,657

Standard

Motor

Products,

Inc

1,086,960

35,980

\*

Stoneridge,

Inc

750,903

110,737

\*

Tenneco,

Inc

2,181,519

38,049

\*

Visteon

Corp

4,964,253

42,603

Winnebago

Industries,

Inc

2,542,973

202,830

\*,e

Workhorse

Group,

Inc

547,641

28,960

\*

XPEL,

Inc

2,003,742

TOTAL

AUTOMOBILES

&

COMPONENTS

52,375,470

BANKS

-

.7

%

22,461

1st

Source

Corp

1,306,332

11,792

e

ACNB

Corp

431,469

20,399

Amalgamated

Financial

Corp

468,973

39,278

Amerant

Bancorp

Inc

1,182,268

14,438

American

National

Bankshares,

Inc

527,998

91,363

Ameris

Bancorp

4,706,108

19,697

Arrow

Financial

Corp

685,850

203,033

Associated

Banc-Corp

4,943,854

103,626

Atlantic

Union

Bankshares

Corp

3,579,242

78,959

\*

Axos

Financial,

Inc

3,076,243

73,913

Banc

of

California,

Inc

1,232,869

27,084

Bancfirst

Corp

2,595,189

8,541

e

Bank

First

Corp

735,807

20,401

Bank

of

Marin

Bancorp

736,476

66,754

Bank

of

NT

Butterfield

&

Son

Ltd

2,305,683

107,486

BankUnited

3,864,122

7,880

Bankwell

Financial

Group,

Inc

241,443

46,383

Banner

Corp

3,467,129

19,622

Bar

Harbor

Bankshares

588,856

17,953

Baycom

Corp

345,236

20,054

BCB

Bancorp,

Inc

394,061

59,784

Berkshire

Hills

Bancorp,

Inc

1,748,682

36,744

\*,e

Blue

Foundry

Bancorp

452,319

22,285

Blue

Ridge

Bankshares,

Inc

290,819

28,761

\*

Bridgewater

Bancshares,

Inc

549,910

105,844

Brookline

Bancorp,

Inc

1,455,355

29,486

Business

First

Bancshares,

Inc

730,663

35,621

Byline

Bancorp,

Inc

823,558

248,950

Cadence

BanCorp

6,883,467

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

9,377

Cambridge

Bancorp

$

823,769

18,266

Camden

National

Corp

794,936

12,139

Capital

Bancorp,

Inc

299,591

18,901

Capital

City

Bank

Group,

Inc

669,473

179,370

Capitol

Federal

Financial

1,467,247

26,939

Capstar

Financial

Holdings,

Inc

476,282

33,893

\*

Carter

Bankshares,

Inc

606,685

98,568

Cathay

General

Bancorp

4,494,701

39,239

Central

Pacific

Financial

Corp

805,184

19,873

Citizens

&

Northern

Corp

472,580

20,304

City

Holding

Co

2,047,658

18,904

Civista

Bancshares,

Inc

448,025

22,041

CNB

Financial

Corp

560,282

14,884

\*

Coastal

Financial

Corp

693,892

22,879

Colony

Bankcorp

Inc

315,730

108,755

Columbia

Banking

System,

Inc

3,640,030

45,031

\*

Columbia

Financial,

Inc

924,937

72,931

Community

Bank

System,

Inc

4,553,082

19,941

Community

Trust

Bancorp,

Inc

943,010

51,772

ConnectOne

Bancorp,

Inc

1,296,889

60,143

\*

CrossFirst

Bankshares,

Inc

836,589

42,821

\*

Customers

Bancorp,

Inc

1,442,639

182,226

CVB

Financial

Corp

5,233,531

44,804

Dime

Community

Bancshares,

Inc

1,547,082

44,235

Eagle

Bancorp,

Inc

2,002,961

211,774

Eastern

Bankshares,

Inc

4,059,708

39,524

Enact

Holdings,

Inc

1,013,395

13,817

Enterprise

Bancorp,

Inc

432,196

47,170

Enterprise

Financial

Services

Corp

2,522,180

21,429

Equity

Bancshares,

Inc

765,444

9,679

Esquire

Financial

Holdings,

Inc

437,297

144,375

Essent

Group

Ltd

5,714,362

16,904

e

Farmers

&

Merchants

Bancorp,

Inc

494,611

42,907

Farmers

National

Banc

Corp

589,542

48,789

FB

Financial

Corp

2,047,186

12,215

Federal

Agricultural

Mortgage

Corp

(FAMC)

1,407,168

65,984

\*,e

Finance

Of

America

Cos,

Inc

106,234

20,676

Financial

Institutions,

Inc

492,709

255,784

First

Bancorp

4,038,829

49,538

First

Bancorp

2,207,909

13,531

First

Bancorp,

Inc

413,507

28,383

First

Bancshares,

Inc

929,259

21,560

First

Bank

338,923

70,871

First

Busey

Corp

1,871,703

11,200

First

Business

Financial

Services,

Inc

427,280

129,691

First

Commonwealth

Financial

Corp

1,859,769

21,836

First

Community

Bancshares,

Inc

813,173

126,123

First

Financial

Bancorp

3,288,027

178,888

First

Financial

Bankshares,

Inc

6,885,399

14,920

First

Financial

Corp

723,471

72,573

First

Foundation,

Inc

1,158,265

8,447

e

First

Guaranty

Bancshares,

Inc

194,872

10,642

First

Internet

Bancorp

273,393

125,160

First

Interstate

Bancsystem,

Inc

5,708,548

77,954

First

Merchants

Corp

3,500,135

24,674

First

Mid-Illinois

Bancshares,

Inc

883,576

31,154

First

of

Long

Island

Corp

547,687

11,035

\*

First

Western

Financial,

Inc

304,676

18,910

Five

Star

Bancorp

548,579

71,773

Flagstar

Bancorp,

Inc

2,777,615

38,480

Flushing

Financial

Corp

758,056

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

220,973

Fulton

Financial

Corp

$

4,028,338

16,694

\*,e

FVCBankcorp,

Inc

339,222

38,550

German

American

Bancorp,

Inc

1,514,630

152,975

Glacier

Bancorp,

Inc

8,762,408

12,409

Great

Southern

Bancorp,

Inc

769,110

4,721

e

Greene

County

Bancorp,

Inc

314,419

11,476

Guaranty

Bancshares,

Inc

424,956

118,028

Hancock

Whitney

Corp

6,594,224

42,272

Hanmi

Financial

Corp

1,132,044

57,580

HarborOne

Northeast

Bancorp,

Inc

876,943

14,060

HBT

Financial,

Inc

286,683

56,424

Heartland

Financial

USA,

Inc

2,782,832

75,720

Heritage

Commerce

Corp

1,082,796

48,281

Heritage

Financial

Corp

1,626,587

70,397

Hilltop

Holdings,

Inc

2,037,993

1,908

Hingham

Institution

for

Savings

471,753

10,191

Home

Bancorp,

Inc

435,665

260,627

Home

Bancshares,

Inc

6,643,382

11,862

e

Home

Point

Capital,

Inc

20,640

25,132

HomeStreet,

Inc

652,427

21,267

HomeTrust

Bancshares,

Inc

511,046

161,625

Hope

Bancorp,

Inc

2,193,251

56,342

Horizon

Bancorp

840,059

27,331

Independent

Bank

Corp

632,166

62,618

Independent

Bank

Corp

5,448,392

49,447

Independent

Bank

Group,

Inc

3,119,611

73,727

International

Bancshares

Corp

3,656,859

15,873

e

John

Marshall

Bancorp,

Inc

457,142

82,192

Kearny

Financial

Corp

833,427

87,044

Lakeland

Bancorp,

Inc

1,623,371

34,017

Lakeland

Financial

Corp

2,811,505

43,898

Live

Oak

Bancshares,

Inc

1,425,368

20,572

Luther

Burbank

Corp

259,824

36,503

Macatawa

Bank

Corp

391,677

21,514

Mercantile

Bank

Corp

751,914

21,895

Merchants

Bancorp

524,385

40,448

Meta

Financial

Group,

Inc

1,700,029

25,254

Metrocity

Bankshares,

Inc

561,902

13,699

\*

Metropolitan

Bank

Holding

Corp

904,134

19,978

Mid

Penn

Bancorp,

Inc

682,848

29,790

Midland

States

Bancorp,

Inc

835,312

19,523

MidWestOne

Financial

Group,

Inc

655,973

95,832

\*

Mr

Cooper

Group,

Inc

3,784,406

14,402

MVB

Financial

Corp

356,594

40,748

National

Bank

Holdings

Corp

1,785,577

56,179

NBT

Bancorp,

Inc

2,662,323

17,233

\*

Nicolet

Bankshares,

Inc

1,314,706

115,491

\*

NMI

Holdings,

Inc

2,532,718

9,396

Northeast

Bank

395,572

57,792

Northfield

Bancorp,

Inc

926,984

165,607

Northwest

Bancshares,

Inc

2,494,041

76,975

OceanFirst

Financial

Corp

1,738,096

64,327

OFG

Bancorp

1,793,437

402,387

Old

National

Bancorp

7,870,690

59,123

Old

Second

Bancorp,

Inc

945,968

30,935

Origin

Bancorp,

Inc

1,278,544

13,166

Orrstown

Financial

Services,

Inc

348,504

129,322

Pacific

Premier

Bancorp,

Inc

4,708,614

19,407

Park

National

Corp

2,862,533

14,104

Parke

Bancorp,

Inc

304,082

16,298

PCB

Bancorp

301,513

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

13,407

PCSB

Financial

Corp

$

261,302

24,941

Peapack

Gladstone

Financial

Corp

986,915

38,233

PennyMac

Financial

Services,

Inc

2,038,584

36,298

Peoples

Bancorp,

Inc

1,098,740

10,436

Peoples

Financial

Services

Corp

573,876

16,955

\*

Pioneer

Bancorp,

Inc

174,806

17,926

Preferred

Bank

1,377,972

48,696

Premier

Financial

Corp

1,404,880

30,924

Primis

Financial

Corp

398,610

18,082

\*

Professional

Holding

Corp

489,480

20,144

Provident

Bancorp

Inc

248,980

100,516

Provident

Financial

Services,

Inc

2,253,569

22,169

QCR

Holdings,

Inc

1,124,190

221,187

Radian

Group,

Inc

4,616,173

21,559

RBB

Bancorp

485,293

5,706

Red

River

Bancshares

Inc

324,786

74,711

Renasant

Corp

3,016,083

10,738

Republic

Bancorp,

Inc

(Class

A)

497,706

60,595

\*

Republic

First

Bancorp,

Inc

171,484

51,841

S&T

Bancorp,

Inc

1,960,108

59,978

Sandy

Spring

Bancorp,

Inc

2,125,620

83,947

Seacoast

Banking

Corp

of

Florida

2,593,962

68,947

ServisFirst

Bancshares,

Inc

5,193,778

24,792

Shore

Bancshares,

Inc

494,352

18,048

Sierra

Bancorp

397,958

43,098

\*

Silvergate

Capital

Corp

2,446,242

170,482

Simmons

First

National

Corp

(Class

A)

4,069,405

21,563

SmartFinancial,

Inc

630,502

13,469

South

Plains

Financial

Inc

421,176

103,323

South

State

Corp

9,343,499

10,600

\*

Southern

First

Bancshares,

Inc

473,608

11,088

Southern

Missouri

Bancorp,

Inc

568,260

42,536

Southside

Bancshares,

Inc

1,456,433

63,705

e

Stellar

Bancorp,

Inc

2,092,072

23,940

\*,e

Sterling

Bancorp,

Inc

152,498

38,888

Stock

Yards

Bancorp,

Inc

3,040,653

14,067

Summit

Financial

Group,

Inc

408,928

68,093

\*

Texas

Capital

Bancshares,

Inc

4,085,580

74,400

\*

The

Bancorp,

Inc

2,051,952

17,897

\*

Third

Coast

Bancshares,

Inc

347,202

19,321

Tompkins

Financial

Corp

1,600,552

90,812

Towne

Bank

2,991,347

42,847

Trico

Bancshares

2,481,270

31,561

\*

Triumph

Bancorp,

Inc

1,625,392

25,257

TrustCo

Bank

Corp

NY

942,591

83,051

Trustmark

Corp

3,037,175

60,264

UMB

Financial

Corp

5,015,170

179,280

United

Bankshares,

Inc

7,592,508

145,053

United

Community

Banks,

Inc

5,584,541

9,820

Unity

Bancorp,

Inc

281,441

39,080

Univest

Financial

Corp

1,099,711

15,236

\*

USCB

Financial

Holdings,

Inc

204,619

591,776

Valley

National

Bancorp

7,024,381

13,428

\*,e

Velocity

Financial,

Inc

130,386

73,250

Veritex

Holdings,

Inc

2,313,235

41,566

Walker

&

Dunlop,

Inc

3,739,277

89,237

Washington

Federal,

Inc

3,453,472

22,524

Washington

Trust

Bancorp,

Inc

1,092,414

24,819

Waterstone

Financial,

Inc

421,427

79,226

WesBanco,

Inc

3,203,899

22,562

West

Bancorporation,

Inc

506,968

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

BANKS—continued

35,613

Westamerica

Bancorporation

$

2,234,003

87,581

WSFS

Financial

Corp

4,077,771

TOTAL

BANKS

384,854,365

CAPITAL

GOODS

-

.5

%

61,185

Aaon,

Inc

3,945,821

47,769

\*

AAR

Corp

2,117,122

108,581

\*

Aerojet

Rocketdyne

Holdings,

Inc

5,260,749

33,554

\*

Aerovironment,

Inc

3,070,191

22,581

\*

AerSale

Corp

478,717

13,398

Alamo

Group,

Inc

2,037,568

42,577

Albany

International

Corp

(Class

A)

3,900,905

18,217

Allied

Motion

Technologies,

Inc

616,099

27,778

Alta

Equipment

Group,

Inc

339,725

89,644

Altra

Industrial

Motion

Corp

5,391,190

43,457

\*

Ameresco,

Inc

2,628,279

23,437

\*

American

Woodmark

Corp

1,062,868

281,479

\*

API

Group

Corp

4,641,589

30,884

Apogee

Enterprises,

Inc

1,416,958

52,644

Applied

Industrial

Technologies,

Inc

6,547,861

199,523

\*,e

Archer

Aviation,

Inc

568,641

66,757

Arcosa,

Inc

4,285,799

17,299

Argan,

Inc

599,756

205,351

\*

Array

Technologies,

Inc

3,716,853

31,825

Astec

Industries,

Inc

1,389,161

248,107

\*

Astra

Space,

Inc

156,407

38,379

\*

Astronics

Corp

355,390

56,304

\*

Atkore

International

Group,

Inc

5,365,771

34,143

AZZ,

Inc

1,372,549

84,415

\*

Babcock

&

Wilcox

Enterprises,

Inc

384,932

67,151

Barnes

Group,

Inc

2,375,131

69,861

\*

Beacon

Roofing

Supply,

Inc

3,936,667

69,076

\*,e

Berkshire

Grey,

Inc

92,562

49,948

\*,e

Blink

Charging

Co

739,230

239,680

\*

Bloom

Energy

Corp

4,484,413

24,745

\*

Blue

Bird

Corp

226,912

12,149

\*

BlueLinx

Holdings,

Inc

856,019

54,218

Boise

Cascade

Co

3,620,136

33,112

e

Brookfield

Business

Corp

848,329

26,419

Cadre

Holdings,

Inc

775,926

28,872

e

Caesarstone

Sdot-Yam

Ltd

256,383

50,261

\*

Chart

Industries,

Inc

11,202,172

26,103

\*

CIRCOR

International,

Inc

539,549

37,075

Columbus

McKinnon

Corp

1,057,379

48,610

Comfort

Systems

USA,

Inc

5,992,641

32,351

\*

Concrete

Pumping

Holdings

Inc

207,208

54,001

\*

Construction

Partners

Inc

1,681,591

20,127

CSW

Industrials,

Inc

2,594,773

84,900

\*,e

Custom

Truck

One

Source,

Inc

588,357

122,499

\*,e

Decarbonization

Plus

Acquisition

Corp

233,973

369,528

\*,e

Desktop

Metal,

Inc

934,906

30,430

Douglas

Dynamics,

Inc

1,033,098

15,400

\*

Ducommun,

Inc

727,034

21,271

\*

DXP

Enterprises,

Inc

608,563

39,350

\*

Dycom

Industries,

Inc

4,650,383

66,926

EMCOR

Group,

Inc

9,443,259

25,381

Encore

Wire

Corp

3,492,172

76,184

\*

Energy

Recovery,

Inc

1,960,214

88,443

\*,e

Energy

Vault

Holdings,

Inc

284,786

79,079

Enerpac

Tool

Group

Corp

2,009,397

55,481

EnerSys

3,677,835

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

150,060

\*,e

Enovix

Corp

$

2,831,632

28,132

EnPro

Industries,

Inc

2,996,058

35,916

ESCO

Technologies,

Inc

3,094,882

112,738

\*,e

ESS

Tech,

Inc

476,882

161,794

\*

Evoqua

Water

Technologies

Corp

6,339,089

14,420

\*,e

Fathom

Digital

Manufacturing

C

36,627

82,867

Federal

Signal

Corp

3,865,746

50,289

\*,e

Fluence

Energy,

Inc

750,815

195,985

\*

Fluor

Corp

5,930,506

62,770

Franklin

Electric

Co,

Inc

5,143,374

60,542

\*,e

FTC

Solar,

Inc

125,322

523,728

\*,e

FuelCell

Energy,

Inc

1,634,031

48,539

GATX

Corp

5,082,519

44,462

\*

Gibraltar

Industries,

Inc

2,271,119

16,945

Global

Industrial

Co

537,834

58,546

\*

GMS,

Inc

2,763,371

31,797

Gorman-Rupp

Co

862,971

256,928

GrafTech

International

Ltd

1,307,763

61,405

Granite

Construction,

Inc

2,071,191

92,133

\*

Great

Lakes

Dredge

&

Dock

Corp

696,525

44,373

Greenbrier

Cos,

Inc

1,566,811

62,750

Griffon

Corp

2,016,785

43,018

H&E

Equipment

Services,

Inc

1,624,360

127,273

\*,e

Heliogen,

Inc

229,091

44,464

Helios

Technologies,

Inc

2,520,664

35,505

Herc

Holdings,

Inc

4,175,743

94,105

Hillenbrand,

Inc

4,157,559

189,970

\*

Hillman

Solutions

Corp

1,483,666

60,125

\*

Hudson

Technologies,

Inc

553,751

43,591

\*

Hydrofarm

Holdings

Group,

Inc

112,465

187,746

\*,e

Hyliion

Holdings

Corp

535,076

16,037

Hyster-Yale

Materials

Handling,

Inc

467,639

13,056

\*

IES

Holdings,

Inc

431,370

24,071

Insteel

Industries,

Inc

634,271

113,867

\*

Janus

International

Group,

Inc

1,096,539

110,452

\*

JELD-WEN

Holding,

Inc

1,171,896

43,062

John

Bean

Technologies

Corp

3,927,254

15,648

Kadant,

Inc

2,784,562

39,083

Kaman

Corp

1,254,564

7,176

\*

Karat

Packaging,

Inc

117,543

113,224

Kennametal,

Inc

3,024,213

173,809

\*

Kratos

Defense

&

Security

Solutions,

Inc

1,925,804

7,476

\*

Lawson

Products,

Inc

224,878

55,570

\*,e

Lightning

eMotors,

Inc

85,578

15,322

Lindsay

Corp

2,594,015

37,998

Luxfer

Holdings

plc

549,831

45,765

\*

Manitowoc

Co,

Inc

417,377

162,069

\*,e

Markforged

Holding

Corp

353,310

30,648

\*

Masonite

International

Corp

2,192,251

100,733

Maxar

Technologies,

Inc

2,250,375

32,909

McGrath

RentCorp

3,095,091

237,895

\*,e

Microvast

Holdings,

Inc

582,843

13,339

Miller

Industries,

Inc

339,211

78,636

\*,e

Momentus,

Inc

114,809

39,654

Moog,

Inc

(Class

A)

3,360,676

116,073

\*

MRC

Global,

Inc

1,164,212

76,535

Mueller

Industries,

Inc

4,794,152

216,234

Mueller

Water

Products,

Inc

(Class

A)

2,529,938

23,063

\*

MYR

Group,

Inc

2,018,243

6,945

National

Presto

Industries,

Inc

489,553

420,591

\*,e

Nikola

Corp

1,594,040

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CAPITAL

GOODS—continued

13,152

\*

Northwest

Pipe

Co

$

447,036

151,394

\*

NOW,

Inc

1,927,246

43,385

\*,e

NuScale

Power

Corp

489,383

18,548

\*

NV5

Global

Inc

2,688,533

4,550

e

Omega

Flex,

Inc

429,520

27,268

Park

Aerospace

Corp

339,214

45,482

\*

Parsons

Corp

2,132,196

80,529

\*

PGT

Innovations,

Inc

1,716,073

13,434

Powell

Industries,

Inc

331,417

3,783

Preformed

Line

Products

Co

300,257

73,940

Primoris

Services

Corp

1,492,849

297,495

\*,e

Proterra,

Inc

1,856,369

37,561

\*

Proto

Labs,

Inc

1,434,455

45,645

Quanex

Building

Products

Corp

1,011,493

39,293

\*

RBC

Bearings,

Inc

9,961,954

27,132

\*

Redwire

Corp

74,342

196,808

\*

Resideo

Technologies,

Inc

4,648,605

45,487

REV

Group,

Inc

624,991

285,876

\*

Rocket

Lab

USA,

Inc

1,455,109

58,823

Rush

Enterprises,

Inc

(Class

A)

2,934,679

8,444

Rush

Enterprises,

Inc

(Class

B)

452,767

152,927

\*,e

Sarcos

Technology

and

Robotics

Corp

308,913

152,218

\*

Shoals

Technologies

Group,

Inc

3,517,758

46,436

Shyft

Group,

Inc

1,067,099

59,427

Simpson

Manufacturing

Co,

Inc

5,079,820

60,453

\*

SPX

Technologies,

Inc

3,980,225

16,181

Standex

International

Corp

1,602,728

200,409

\*,e

Stem,

Inc

2,725,562

40,988

\*

Sterling

Construction

Co,

Inc

1,106,266

25,089

Tennant

Co

1,461,434

91,593

Terex

Corp

3,713,180

33,484

\*,e

Terran

Orbital

Corp

87,728

61,721

Textainer

Group

Holdings

Ltd

1,846,692

45,098

\*

Thermon

Group

Holdings

800,940

68,848

\*

Titan

International,

Inc

1,029,966

28,339

\*

Titan

Machinery,

Inc

974,295

51,134

\*

TPI

Composites,

Inc

509,295

9,859

\*

Transcat

Inc

815,931

110,920

Trinity

Industries,

Inc

3,164,548

84,027

Triton

International

Ltd

5,099,599

86,691

\*

Triumph

Group,

Inc

784,554

53,650

\*

Tutor

Perini

Corp

398,083

81,996

UFP

Industries,

Inc

5,840,575

16,056

\*

Vectrus,

Inc

658,135

79,225

\*,e

Velo3D,

Inc

312,146

18,487

\*

Veritiv

Corp

2,149,299

30,519

\*

Vicor

Corp

1,457,893

157,099

\*,e

View,

Inc

212,084

313,966

\*,e

Virgin

Galactic

Holdings,

Inc

1,450,523

68,633

Wabash

National

Corp

1,485,904

37,508

Watts

Water

Technologies,

Inc

(Class

A)

5,489,671

76,493

\*,e

Xos,

Inc

86,437

169,828

Zurn

Water

Solutions

Corp

3,989,260

TOTAL

CAPITAL

GOODS

346,117,196

COMMERCIAL

&

PROFESSIONAL

SERVICES

-

.1

%

92,544

ABM

Industries,

Inc

4,119,133

126,767

ACCO

Brands

Corp

583,128

160,755

\*

ACV

Auctions,

Inc

1,466,086

466,546

\*

Alight,

Inc

3,867,666

29,597

Aris

Water

Solution,

Inc

504,037

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

COMMERCIAL

&

PROFESSIONAL

SERVICES—continued

67,480

\*

ASGN

Inc

$

5,720,954

21,078

\*

Atlas

Technical

Consultants,

Inc

159,771

9,094

Barrett

Business

Services,

Inc

793,179

62,784

Brady

Corp

(Class

A)

2,872,368

64,123

\*

BrightView

Holdings,

Inc

571,977

63,312

Brink's

Co

3,775,295

68,657

\*

Casella

Waste

Systems,

Inc

(Class

A)

5,616,829

66,890

\*

CBIZ,

Inc

3,320,420

24,639

\*

Cimpress

plc

573,596

1,670

Compx

International,

Inc

29,776

160,619

\*

CoreCivic,

Inc

1,681,681

9,106

CRA

International,

Inc

935,550

60,805

Deluxe

Corp

1,117,596

35,568

Ennis,

Inc

802,414

69,958

Exponent,

Inc

6,664,199

81,836

\*

First

Advantage

Corp

1,149,796

15,725

\*

Forrester

Research,

Inc

665,482

15,848

\*

Franklin

Covey

Co

801,909

165,157

\*,e

Geo

Group,

Inc

1,397,228

111,593

\*

Harsco

Corp

590,327

103,007

Healthcare

Services

Group

1,437,978

27,521

Heidrick

&

Struggles

International,

Inc

774,991

21,935

\*

Heritage-Crystal

Clean,

Inc

602,554

105,735

Herman

Miller,

Inc

2,239,467

28,033

\*

HireRight

Holdings

Corp

377,324

56,238

HNI

Corp

1,630,340

28,028

\*

Huron

Consulting

Group,

Inc

2,063,702

25,536

ICF

International,

Inc

3,054,872

49,782

Insperity,

Inc

5,875,272

83,537

Interface,

Inc

944,803

157,245

\*

KAR

Auction

Services,

Inc

2,284,770

42,974

Kelly

Services,

Inc

(Class

A)

702,195

27,528

Kforce,

Inc

1,741,697

52,387

Kimball

International,

Inc

(Class

B)

387,140

73,715

Korn/Ferry

International

4,097,817

126,752

\*,e

Legalzoom.com,

Inc

1,172,456

189,240

\*,e

Li-Cycle

Holdings

Corp

1,127,870

41,232

Matthews

International

Corp

(Class

A)

1,108,316

38,278

\*

Montrose

Environmental

Group,

Inc

1,675,811

9,268

NL

Industries,

Inc

81,188

244,580

Pitney

Bowes,

Inc

760,644

203,449

\*,e

Planet

Labs

PBC

1,068,107

40,382

\*

Quad

Graphics,

Inc

112,262

13,233

\*,e

Red

Violet,

Inc

230,784

43,962

Resources

Connection,

Inc

803,186

113,525

\*,e

Skillsoft

Corp

203,210

30,643

\*

SP

Plus

Corp

1,134,710

174,994

\*,e

Spire

Global,

Inc

251,991

120,154

Steelcase,

Inc

(Class

A)

933,597

33,018

\*,e

Sterling

Check

Corp

644,842

50,831

\*

TriNet

Group,

Inc

3,302,998

45,739

\*

TrueBlue,

Inc

899,229

20,341

Unifirst

Corp

3,742,947

163,178

\*

Upwork,

Inc

2,194,744

28,588

\*

Viad

Corp

1,065,761

14,798

VSE

Corp

684,999

16,227

\*

Willdan

Group,

Inc

224,257

TOTAL

COMMERCIAL

&

PROFESSIONAL

SERVICES

101,419,228

CONSUMER

DURABLES

&

APPAREL

-

.5

%

46,559

Acushnet

Holdings

Corp

2,168,253

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

134,776

\*,e

Allbirds,

Inc

$

463,629

110,120

\*,e

AMMO,

Inc

357,890

15,982

\*,e

Aterian,

Inc

17,580

40,599

\*

Beazer

Homes

USA,

Inc

459,175

193,530

\*

Callaway

Golf

Co

3,622,882

12,218

\*

Cavco

Industries,

Inc

2,769,454

38,827

Century

Communities,

Inc

1,728,190

39,006

Clarus

Corp

472,363

83,030

\*

Crocs,

Inc

5,874,372

29,328

\*,e

Dream

Finders

Homes,

Inc

325,541

64,690

Ermenegildo

Zegna

Holditalia

S.p.A

709,002

32,310

Ethan

Allen

Interiors,

Inc

826,813

65,443

\*

Fossil

Group,

Inc

278,133

56,981

\*

G-III

Apparel

Group

Ltd

1,111,129

179,099

\*

GoPro,

Inc

976,090

37,635

\*

Green

Brick

Partners,

Inc

870,498

33,075

\*

Helen

of

Troy

Ltd

3,129,556

6,024

\*

Hovnanian

Enterprises,

Inc

242,948

32,704

Installed

Building

Products,

Inc

2,812,544

37,460

\*

iRobot

Corp

2,116,490

7,010

Johnson

Outdoors,

Inc

368,866

109,916

KB

Home

3,167,779

76,107

Kontoor

Brands,

Inc

2,717,020

9,397

\*

Landsea

Homes

Corp

45,669

59,648

\*

Latham

Group,

Inc

263,644

60,789

La-Z-Boy,

Inc

1,505,744

12,268

\*

Legacy

Housing

Corp

227,694

28,087

\*

LGI

Homes,

Inc

2,585,408

20,138

Lifetime

Brands,

Inc

172,482

18,991

\*

Lovesac

Co

462,241

36,088

\*

M/I

Homes,

Inc

1,497,291

27,789

\*

Malibu

Boats,

Inc

1,470,038

11,799

Marine

Products

Corp

117,990

25,619

\*

MasterCraft

Boat

Holdings,

Inc

557,469

78,898

MDC

Holdings,

Inc

2,403,233

50,247

\*

Meritage

Homes

Corp

3,826,812

19,622

Movado

Group,

Inc

648,900

21,052

e

Oxford

Industries,

Inc

2,141,620

43,524

\*,e

PLBY

Group,

Inc

157,557

77,908

\*,e

Purple

Innovation,

Inc

274,236

8,350

Rocky

Brands,

Inc

164,370

72,364

\*

Skyline

Champion

Corp

4,212,308

61,498

Smith

&

Wesson

Brands,

Inc

694,312

25,142

\*,e

Snap

One

Holdings

Corp

299,693

29,974

\*,e

Solo

Brands,

Inc

123,793

176,224

\*

Sonos,

Inc

2,840,731

107,181

Steven

Madden

Ltd

3,201,496

22,754

Sturm

Ruger

&

Co,

Inc

1,277,182

18,501

Superior

Uniform

Group,

Inc

183,530

151,338

\*

Taylor

Morrison

Home

Corp

3,986,243

33,847

\*,e

Traeger,

Inc

140,465

137,362

\*

TRI

Pointe

Homes,

Inc

2,300,813

58,283

\*

Tupperware

Brands

Corp

450,528

17,552

\*

Unifi,

Inc

160,074

17,450

\*

Universal

Electronics,

Inc

356,155

319,755

\*,e

Vinco

Ventures,

Inc

291,489

77,562

\*

Vista

Outdoor,

Inc

2,252,400

93,597

\*,e

Vizio

Holding

Corp

1,048,286

82,592

\*,e

Vuzix

Corp

412,960

37,009

e

Weber,

Inc

246,480

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

DURABLES

&

APPAREL—continued

108,352

Wolverine

World

Wide,

Inc

$

1,856,070

TOTAL

CONSUMER

DURABLES

&

APPAREL

82,443,603

CONSUMER

SERVICES

-

.5

%

100,024

\*

2U,

Inc

619,149

80,575

\*

Accel

Entertainment,

Inc

791,247

60,369

\*

Adtalem

Global

Education,

Inc

2,517,387

26,162

\*

American

Public

Education,

Inc

335,135

48,052

\*,e

Bally's

Corp

1,083,092

137,683

\*,e

Beachbody

Co,

Inc

139,060

1,269

\*

Biglari

Holdings,

Inc

(B

Shares)

175,059

31,486

\*

BJ's

Restaurants,

Inc

1,034,315

119,177

Bloomin'

Brands,

Inc

2,861,440

16,688

Bluegreen

Vacations

Holding

Corp

288,869

54,199

\*,e

Bowlero

Corp

789,137

60,613

\*

Brinker

International,

Inc

2,023,868

19,474

Carriage

Services,

Inc

475,360

41,827

\*

Century

Casinos,

Inc

332,525

66,808

e

Cheesecake

Factory

2,392,395

172,317

\*

Chegg,

Inc

3,716,878

27,162

\*

Chuy's

Holdings,

Inc

795,847

158,960

\*

Coursera,

Inc

2,048,994

31,528

Cracker

Barrel

Old

Country

Store,

Inc

3,601,128

57,574

\*

Dave

&

Buster's

Entertainment,

Inc

2,294,324

77,918

\*

Denny's

Corp

882,811

19,809

Dine

Brands

Global

Inc.

1,428,031

32,011

\*

Duolingo,

Inc

2,619,780

29,146

e

El

Pollo

Loco

Holdings,

Inc

292,626

34,037

European

Wax

Center,

Inc

489,452

118,316

\*

Everi

Holdings,

Inc

2,245,638

51,600

\*,e

F45

Training

Holdings,

Inc

172,344

13,308

\*

First

Watch

Restaurant

Group,

Inc

226,901

113,506

\*

frontdoor,

Inc

2,503,942

48,021

\*

Full

House

Resorts,

Inc

336,627

28,078

\*

Golden

Entertainment,

Inc

1,185,453

5,002

Graham

Holdings

Co

3,120,598

121,213

\*

Hilton

Grand

Vacations,

Inc

4,756,398

14,597

\*

Inspirato,

Inc

31,238

30,928

\*

Inspired

Entertainment,

Inc

316,703

135,056

e

International

Game

Technology

plc

2,707,873

29,528

Jack

in

the

Box,

Inc

2,605,255

98,123

e

Krispy

Kreme,

Inc

1,408,065

5,976

\*

Kura

Sushi

USA,

Inc

472,283

151,724

Laureate

Education,

Inc

1,917,791

55,648

\*,e

Life

Time

Group

Holdings,

Inc

583,748

47,271

\*

Lindblad

Expeditions

Holdings,

Inc

396,604

18,631

\*

Monarch

Casino

&

Resort,

Inc

1,479,488

15,659

\*

NEOGAMES

S.A.

269,335

75,833

\*,e

Nerdy,

Inc

184,274

47,955

\*

Noodles

&

Co

279,098

30,594

\*

ONE

Group

Hospitality,

Inc

228,843

92,351

\*

OneSpaWorld

Holdings

Ltd

837,624

45,055

Papa

John's

International,

Inc

3,272,345

94,995

\*

Perdoceo

Education

Corp

1,085,793

32,394

\*,e

Portillo's,

Inc

694,527

62,251

\*

PowerSchool

Holdings,

Inc

1,245,020

12,195

RCI

Hospitality

Holdings,

Inc

1,029,624

70,539

Red

Rock

Resorts,

Inc

2,937,949

129,291

\*,e

Rover

Group,

Inc

567,588

78,558

\*

Rush

Street

Interactive,

Inc

326,016

45,777

Ruth's

Hospitality

Group

Inc

951,246

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

CONSUMER

SERVICES—continued

129,839

\*,e

Scientific

Games

Corp

(Class

A)

$

7,289,161

58,288

\*

SeaWorld

Entertainment,

Inc

3,390,030

51,860

\*

Shake

Shack,

Inc

2,881,860

158,564

\*,e

Sonder

Holdings,

Inc

347,255

38,192

\*,e

StoneMor,

Inc

133,290

30,646

Strategic

Education,

Inc

2,114,574

54,825

\*

Stride,

Inc

1,837,186

119,399

\*,e

Sweetgreen,

Inc

2,220,821

40,018

\*,e

Target

Hospitality

Corp

487,019

92,251

Texas

Roadhouse,

Inc

(Class

A)

9,128,236

100,591

\*

Udemy,

Inc

1,463,599

45,201

\*

Universal

Technical

Institute,

Inc

311,887

133,586

\*

Vacasa,

Inc

487,589

124,074

\*,e

Vivint

Smart

Home,

Inc

949,166

41,182

Wingstop,

Inc

6,522,817

76,747

\*

WW

International

Inc

346,896

22,929

\*

Xponential

Fitness,

Inc

443,676

TOTAL

CONSUMER

SERVICES

114,759,202

DIVERSIFIED

FINANCIALS

-

.7

%

22,080

AFC

Gamma,

Inc

378,230

21,109

Alerus

Financial

Corp

470,731

23,618

A-Mark

Precious

Metals,

Inc

718,223

18,385

Angel

Oak

Mortgage,

Inc

189,917

195,918

Apollo

Commercial

Real

Estate

Finance,

Inc

2,206,037

227,297

Arbor

Realty

Trust,

Inc

3,129,880

68,600

Ares

Commercial

Real

Estate

Corp

846,524

154,667

ARMOUR

Residential

REIT,

Inc

822,828

83,118

Artisan

Partners

Asset

Management,

Inc

2,369,694

29,861

\*

Assetmark

Financial

Holdings,

Inc

618,421

3,259

Associated

Capital

Group,

Inc

131,338

6,149

\*

Atlanticus

Holdings

Corp

175,615

28,303

B. Riley

Financial,

Inc

1,151,366

79,729

\*,e

Bakkt

Holdings,

Inc

169,823

33,327

Banco

Latinoamericano

de

Exportaciones

S.A.

(Class

E)

522,901

441,026

BGC

Partners,

Inc

(Class

A)

1,746,463

232,976

Blackstone

Mortgage

Trust,

Inc

5,815,081

65,582

\*

Blucora,

Inc

1,444,771

45,183

Brightsphere

Investment

Group,

Inc

850,344

121,344

BrightSpire

Capital,

Inc

931,922

181,244

Broadmark

Realty

Capital,

Inc

1,054,840

97,248

\*

Cannae

Holdings,

Inc

2,252,264

7,901

Chicago

Atlantic

Real

Estate

Finance,

Inc

117,093

325,179

Chimera

Investment

Corp

2,194,958

127,286

Claros

Mortgage

Trust,

Inc

2,036,576

34,037

Cohen

&

Steers,

Inc

2,047,666

84,454

e

Compass

Diversified

Trust

1,797,181

13,986

\*,e

Consumer

Portfolio

Services,

Inc

89,790

35,249

Cowen

Group,

Inc

1,361,316

27,403

e

Curo

Group

Holdings

Corp

141,673

4,277

Diamond

Hill

Investment

Group,

Inc

769,646

34,413

\*

Donnelley

Financial

Solutions,

Inc

1,391,318

58,383

Dynex

Capital,

Inc

697,093

81,107

Ellington

Financial

Inc

1,085,212

31,598

\*

Encore

Capital

Group,

Inc

1,608,970

42,881

\*

Enova

International,

Inc

1,607,609

69,695

\*

Ezcorp,

Inc

(Class

A)

673,254

116,119

Federated

Investors,

Inc

(Class

B)

4,035,135

53,382

FirstCash

Holdings,

Inc

5,255,458

79,987

\*

Focus

Financial

Partners,

Inc

2,782,748

118,327

Franklin

BSP

Realty

Trust,

Inc

1,667,227

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

DIVERSIFIED

FINANCIALS—continued

55,324

e

GCM

Grosvenor,

Inc

$

457,529

75,993

Granite

Point

Mortgage

Trust,

Inc

597,305

65,602

\*

Green

Dot

Corp

1,248,406

47,996

Hamilton

Lane,

Inc

2,871,121

118,253

Hannon

Armstrong

Sustainable

Infrastructure

Capital,

Inc

3,214,116

68,608

Houlihan

Lokey,

Inc

6,128,067

45,911

Invesco

Mortgage

Capital,

Inc

537,618

103,249

Jackson

Financial,

Inc

3,960,632

76,470

KKR

Real

Estate

Finance

Trust,

Inc

1,332,107

153,297

Ladder

Capital

Corp

1,635,679

136,696

\*

LendingClub

Corp

1,454,445

15,171

\*

LendingTree,

Inc

382,764

24,078

\*

MarketWise,

Inc

59,232

143,266

MFA

Financial,

Inc

1,426,929

88,756

Moelis

&

Co

3,768,580

155,248

\*,e

Moneylion,

Inc

173,878

152,431

Navient

Corp

2,307,805

19,953

Nelnet,

Inc

(Class

A)

1,777,613

35,768

\*,e

NerdWallet,

Inc

419,916

530,577

New

York

Mortgage

Trust,

Inc

1,427,252

10,916

Nexpoint

Real

Estate

Finance,

Inc

191,794

147,300

\*

Open

Lending

Corp

1,056,141

29,158

\*

Oportun

Financial

Corp

160,369

10,150

Oppenheimer

Holdings,

Inc

349,363

19,207

\*

OppFi,

Inc

43,600

49,785

Orchid

Island

Capital,

Inc

501,335

122,252

PennyMac

Mortgage

Investment

Trust

1,695,635

57,267

Perella

Weinberg

Partners

451,264

23,400

Piper

Jaffray

Cos

2,994,498

32,248

PJT

Partners,

Inc

2,399,251

53,206

\*

PRA

Group,

Inc

1,782,401

70,557

\*

PROG

Holdings,

Inc

1,165,602

103,166

Ready

Capital

Corp

1,250,372

159,691

Redwood

Trust,

Inc

1,138,597

9,769

Regional

Management

Corp

331,755

37,492

Sculptor

Capital

Management,

Inc

397,790

13,835

e

Silvercrest

Asset

Management

Group,

Inc

262,727

73,548

StepStone

Group,

Inc

2,171,137

23,072

\*

StoneX

Group,

Inc

2,153,079

34,026

\*,e

Sunlight

Financial

Holdings,

Inc

41,171

4,871

\*,e

SWK

Holdings

Corp

90,601

99,848

TPG

RE

Finance

Trust,

Inc

845,713

481,487

Two

Harbors

Investment

Corp

1,714,094

1,276

e

Value

Line,

Inc

68,394

23,179

Victory

Capital

Holdings,

Inc

670,337

9,512

Virtus

Investment

Partners,

Inc

1,631,213

184,169

e

WisdomTree

Investments,

Inc

1,000,038

4,913

\*,e

World

Acceptance

Corp

399,034

TOTAL

DIVERSIFIED

FINANCIALS

121,495,435

ENERGY

-

.0

%

40,518

\*,e

Aemetis,

Inc

299,833

103,235

\*

Alto

Ingredients,

Inc

426,361

24,421

e

Altus

Midstream

Co

898,204

49,857

\*

Amplify

Energy

Corp

493,086

20,739

Arch

Resources,

Inc

3,158,342

83,978

\*

Archaea

Energy,

Inc

2,167,472

177,704

Archrock,

Inc

1,334,557

48,656

\*

Ardmore

Shipping

Corp

658,316

1,132

\*

Battalion

Oil

Corp

14,863

106,676

Berry

Petroleum

Co

LLC

946,216

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

101,756

Bonanza

Creek

Energy,

Inc

$

7,113,762

252,404

\*

Borr

Drilling

Ltd

1,239,304

72,452

Brigham

Minerals,

Inc

2,246,012

30,838

\*

Bristow

Group,

Inc

923,290

81,284

Cactus,

Inc

4,204,008

103,586

California

Resources

Corp

4,672,764

67,469

\*

Callon

Petroleum

Co

2,965,937

14,358

\*,e

Centrus

Energy

Corp

679,277

281,110

ChampionX

Corp

8,045,368

225,205

\*

Clean

Energy

Fuels

Corp

1,511,126

255,554

\*

CNX

Resources

Corp

4,295,863

125,993

\*

Comstock

Resources

Inc

2,366,149

47,240

CONSOL

Energy,

Inc

2,977,065

44,477

e

Crescent

Energy,

Inc

612,893

40,154

CVR

Energy,

Inc

1,568,415

98,899

Delek

US

Holdings,

Inc

2,933,344

68,814

\*

Denbury,

Inc

6,290,288

189,160

DHT

Holdings,

Inc

1,685,416

139,657

\*

Diamond

Offshore

Drilling,

Inc

1,375,621

26,507

\*

DMC

Global,

Inc

573,611

42,742

Dorian

LPG

Ltd

772,348

47,574

\*

Dril-Quip,

Inc

1,183,641

60,236

\*,e

Earthstone

Energy,

Inc

973,414

14,101

\*,e

Empire

Petroleum

Corp

225,616

211,513

\*,e

Energy

Fuels,

Inc

1,522,894

563,844

Equitrans

Midstream

Corp

4,747,566

25,892

e

Excelerate

Energy,

Inc

715,137

37,542

e

FLEX

LNG

Ltd

1,173,187

104,269

\*

Frank's

International

NV

1,973,812

173,038

e

Frontline

Ltd

2,173,357

274,978

\*,e

Gevo,

Inc

618,701

139,130

\*

Golar

LNG

Ltd

3,870,597

71,297

\*

Green

Plains

Inc

2,059,770

14,993

\*

Gulfport

Energy

Operating

Corp

1,342,023

199,856

\*

Helix

Energy

Solutions

Group,

Inc

1,398,992

141,412

Helmerich

&

Payne,

Inc

7,001,308

7,922

e

HighPeak

Energy,

Inc

184,741

68,630

International

Seaways,

Inc

2,910,598

623,857

\*

Kosmos

Energy

Ltd

4,048,832

22,825

\*

Laredo

Petroleum,

Inc

1,475,636

196,289

\*

Liberty

Oilfield

Services,

Inc

3,319,247

232,060

Magnolia

Oil

&

Gas

Corp

5,959,301

154,908

Matador

Resources

Co

10,293,637

202,470

Murphy

Oil

Corp

9,821,820

12,662

\*

Nabors

Industries

Ltd

2,203,568

5,622

e

Nacco

Industries,

Inc

(Class

A)

317,980

55,176

\*

National

Energy

Services

Reunited

Corp

417,131

110,971

\*

Newpark

Resources,

Inc

406,154

43,149

\*

NextDecade

Corp

302,043

245,130

\*

NexTier

Oilfield

Solutions,

Inc

2,470,910

100,055

\*

Noble

Corp

plc

3,605,982

265,756

e

Nordic

American

Tankers

Ltd

821,186

91,349

Northern

Oil

and

Gas,

Inc

3,118,655

56,848

Oasis

Petroleum,

Inc

8,702,860

139,549

\*

Oceaneering

International,

Inc

1,952,291

93,794

\*

Oil

States

International,

Inc

606,847

68,191

\*

Par

Pacific

Holdings,

Inc

1,560,210

296,741

Patterson-UTI

Energy,

Inc

5,237,479

132,260

\*

PBF

Energy,

Inc

5,852,505

160,388

\*

Peabody

Energy

Corp

3,833,273

28,115

Penn

Virginia

Corp

1,149,904

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

ENERGY—continued

283,411

\*

Permian

Resources

Corp

$

2,768,925

18,205

\*

ProFrac

Holding

Corp

398,872

121,961

\*

ProPetro

Holding

Corp

1,444,018

22,614

\*

Rex

American

Resources

Corp

678,194

12,868

Riley

Exploration

Permian,

Inc

374,073

120,703

\*,e

Ring

Energy,

Inc

385,043

103,616

RPC,

Inc

1,153,246

44,290

\*

SandRidge

Energy,

Inc

836,638

66,723

Scorpio

Tankers,

Inc

3,198,701

96,872

\*

Select

Energy

Services,

Inc

934,815

152,380

SFL

Corp

Ltd

1,554,276

16,357

\*,e

SilverBow

Resources,

Inc

580,183

15,443

e

Sitio

Royalties

Corp

437,963

166,213

SM

Energy

Co

7,476,261

46,387

Solaris

Oilfield

Infrastructure,

Inc

631,791

89,739

\*

Talos

Energy,

Inc

1,909,646

93,200

\*

Teekay

Corp

364,412

31,910

\*

Teekay

Tankers

Ltd

1,004,846

683,454

\*,e

Tellurian,

Inc

1,845,326

164,811

\*

Tetra

Technologies,

Inc

814,166

59,353

\*

Tidewater,

Inc

2,012,067

429,239

\*,e

Uranium

Energy

Corp

1,807,096

294,910

\*,e

Ur-Energy,

Inc

380,434

97,231

\*

US

Silica

Holdings,

Inc

1,399,154

145,837

e

Vaalco

Energy,

Inc

751,061

83,498

\*

Valaris

Ltd

5,588,521

65,786

\*,e

Vertex

Energy,

Inc

561,155

134,375

\*

W&T

Offshore,

Inc

1,019,906

95,858

\*

Weatherford

International

Ltd

3,995,361

84,954

World

Fuel

Services

Corp

2,165,477

TOTAL

ENERGY

229,473,543

FOOD

&

STAPLES

RETAILING

-

.6

%

43,320

Andersons,

Inc

1,527,896

47,312

\*

Chefs'

Warehouse

Holdings,

Inc

1,733,039

40,985

\*,e

HF

Foods

Group

Inc

189,760

19,434

Ingles

Markets,

Inc

(Class

A)

1,833,987

12,766

Natural

Grocers

by

Vitamin

C

146,809

32,900

Pricesmart,

Inc

2,104,613

78,429

\*,e

Rite

Aid

Corp

409,399

49,304

SpartanNash

Co

1,760,646

149,178

\*

Sprouts

Farmers

Market,

Inc

4,400,751

79,708

\*

United

Natural

Foods,

Inc

3,380,416

12,578

Village

Super

Market

(Class

A)

279,735

22,003

Weis

Markets,

Inc

2,061,021

TOTAL

FOOD

&

STAPLES

RETAILING

19,828,072

FOOD,

BEVERAGE

&

TOBACCO

-

.9

%

236,406

\*,e

22nd

Century

Group,

Inc

309,692

8,749

Alico,

Inc

267,894

102,772

\*,e

AppHarvest,

Inc

218,904

97,662

e

B&G

Foods,

Inc

(Class

A)

1,599,704

231,979

\*,e

Benson

Hill,

Inc

786,409

85,855

\*,e

Beyond

Meat,

Inc

1,347,923

35,958

\*,e

BRC,

Inc

260,695

22,387

Calavo

Growers,

Inc

774,366

52,434

Cal-Maine

Foods,

Inc

2,963,045

76,349

\*

Celsius

Holdings,

Inc

6,953,867

6,442

Coca-Cola

Consolidated

Inc

3,137,318

49,037

\*

Duckhorn

Portfolio,

Inc

716,921

42,419

Fresh

Del

Monte

Produce,

Inc

1,106,288

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

FOOD,

BEVERAGE

&

TOBACCO—continued

106,330

\*

Hain

Celestial

Group,

Inc

$

1,989,434

185,795

\*

Hostess

Brands,

Inc

4,919,852

21,008

J&J

Snack

Foods

Corp

3,100,991

11,636

John

B. Sanfilippo

&

Son,

Inc

970,559

26,634

Lancaster

Colony

Corp

4,801,578

36,466

\*

Landec

Corp

362,837

60,021

\*,e

Local

Bounti

Corp

177,662

19,323

MGP

Ingredients,

Inc

2,165,142

56,715

\*

Mission

Produce,

Inc

943,738

32,425

National

Beverage

Corp

1,537,593

218,606

Primo

Water

Corp

3,189,462

7,543

\*

Seneca

Foods

Corp

476,039

123,946

\*

Simply

Good

Foods

Co

4,747,132

52,784

\*

Sovos

Brands,

Inc

731,586

136,202

\*

SunOpta,

Inc

1,529,548

63,791

\*,e

Tattooed

Chef,

Inc

303,007

19,379

Tootsie

Roll

Industries,

Inc

782,718

69,521

\*

TreeHouse

Foods,

Inc

3,492,735

19,381

Turning

Point

Brands,

Inc

456,616

32,314

Universal

Corp

1,635,412

91,704

Utz

Brands,

Inc

1,486,522

199,095

Vector

Group

Ltd

2,114,389

45,240

\*,e

Vintage

Wine

Estates,

Inc

125,315

38,883

\*

Vita

Coco

Co,

Inc

398,940

38,697

\*

Vital

Farms,

Inc

512,348

58,516

\*

Whole

Earth

Brands,

Inc

201,880

TOTAL

FOOD,

BEVERAGE

&

TOBACCO

63,596,061

HEALTH

CARE

EQUIPMENT

&

SERVICES

-

.4

%

245,322

\*

1Life

Healthcare,

Inc

4,195,006

87,511

\*

Accolade,

Inc

943,369

100,141

\*

AdaptHealth

Corp

2,283,215

21,528

\*

Addus

HomeCare

Corp

2,204,898

38,179

\*,e

Agiliti,

Inc

666,987

17,003

e

AirSculpt

Technologies,

Inc

115,280

117,726

\*

Alignment

Healthcare,

Inc

1,558,692

150,146

\*

Allscripts

Healthcare

Solutions,

Inc

2,207,146

97,724

\*

Alphatec

Holdings

Inc

1,000,694

306,021

\*

American

Well

Corp

1,251,626

59,498

\*

AMN

Healthcare

Services,

Inc

7,466,999

51,827

\*

Angiodynamics,

Inc

730,242

52,157

\*,e

Apollo

Medical

Holdings,

Inc

1,849,487

95,349

\*,e

ATI

Physical

Therapy,

Inc

103,930

63,188

\*

AtriCure,

Inc

2,661,479

1,902

Atrion

Corp

1,141,790

63,026

\*

Avanos

Medical,

Inc

1,396,026

60,420

\*

Aveanna

Healthcare

Holdings,

Inc

83,984

54,514

\*

AxoGen,

Inc

622,550

67,290

\*

Axonics

Modulation

Technologies,

Inc

4,921,591

12,207

\*,e

Babylon

Holdings

Ltd

5,780

47,095

\*

BioLife

Solutions

Inc

1,107,674

44,077

\*,e

Bioventus,

Inc

358,787

254,111

\*

Brookdale

Senior

Living,

Inc

1,135,876

172,310

\*,e

Butterfly

Network,

Inc

844,319

222,263

\*

Cano

Health,

Inc

795,702

52,119

\*

Cardiovascular

Systems,

Inc

752,598

77,264

\*,e

CareMax,

Inc

543,939

33,263

\*

Castle

Biosciences,

Inc

848,872

237,114

\*

Cerus

Corp

867,837

527,952

\*,e

Clover

Health

Investments

Corp

834,164

179,085

\*

Community

Health

Systems,

Inc

513,974

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

18,679

\*

Computer

Programs

&

Systems,

Inc

$

603,332

40,235

Conmed

Corp

3,207,937

12,073

\*

Corvel

Corp

1,982,507

49,298

\*

Cross

Country

Healthcare,

Inc

1,828,463

54,426

\*

CryoLife,

Inc

607,394

61,495

\*

CryoPort,

Inc

1,707,101

150,283

\*

Cue

Health,

Inc

596,624

23,130

\*

Cutera,

Inc

1,063,286

112,316

\*

DocGo,

Inc

1,111,928

79,928

Embecta

Corp

2,471,374

74,214

Ensign

Group,

Inc

6,662,933

111,693

\*

Evolent

Health,

Inc

3,552,954

170,094

\*,e

Figs,

Inc

1,255,294

29,276

\*

Fulgent

Genetics,

Inc

1,160,208

63,051

\*

Glaukos

Corp

3,535,270

69,775

\*

Haemonetics

Corp

5,927,386

77,062

\*

Health

Catalyst,

Inc

679,687

114,067

\*

HealthEquity,

Inc

8,886,960

33,568

\*

HealthStream,

Inc

829,130

13,709

\*

Heska

Corp

983,758

169,441

\*

Hims

&

Hers

Health,

Inc

769,262

66,141

\*

Inari

Medical,

Inc

5,088,227

28,699

\*

Innovage

Holding

Corp

177,647

32,057

\*

Inogen,

Inc

726,412

38,707

\*

Inspire

Medical

Systems,

Inc

7,545,930

44,540

\*

Integer

Holding

Corp

2,776,178

329,226

\*,e

Invitae

Corp

849,403

9,882

iRadimed

Corp

287,072

40,730

\*

iRhythm

Technologies,

Inc

5,192,668

20,600

\*

Joint

Corp

340,312

93,754

\*

Lantheus

Holdings,

Inc

6,936,858

26,121

LeMaitre

Vascular,

Inc

1,133,651

40,695

\*

LHC

Group,

Inc

6,800,134

92,752

\*,e

LifeStance

Health

Group,

Inc

700,278

73,152

\*

LivaNova

plc

3,445,459

112,526

\*

MEDNAX,

Inc

2,183,004

57,408

\*

Meridian

Bioscience,

Inc

1,835,334

76,325

\*

Merit

Medical

Systems,

Inc

5,248,870

7,010

Mesa

Laboratories,

Inc

926,792

17,595

\*

ModivCare,

Inc

1,710,938

516,118

\*,e

Multiplan

Corp

1,481,259

63,975

\*,e

Nano-X

Imaging

Ltd

908,445

16,747

National

Healthcare

Corp

1,020,227

19,104

National

Research

Corp

778,106

146,922

\*

Neogen

Corp

1,939,370

47,135

\*

Nevro

Corp

1,807,156

76,577

\*

NextGen

Healthcare,

Inc

1,534,603

54,155

\*,e

Nutex

Health,

Inc

43,595

72,561

\*

NuVasive,

Inc

3,202,117

60,448

\*

Omnicell,

Inc

4,673,839

48,496

\*,e

Oncology

Institute,

Inc

220,172

569,860

\*,e

Opko

Health,

Inc

1,082,734

24,770

\*

OptimizeRx

Corp

381,830

215,105

\*

Option

Care

Health,

Inc

6,509,077

99,167

\*

OraSure

Technologies,

Inc

432,368

27,008

\*

Orthofix

Medical

Inc

433,748

20,885

\*

OrthoPediatrics

Corp

887,404

67,186

\*

Outset

Medical,

Inc

1,044,070

100,044

Owens

&

Minor,

Inc

1,700,748

15,949

\*,e

Owlet,

Inc

15,271

35,677

\*,e

P3

Health

Partners,

Inc

176,601

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HEALTH

CARE

EQUIPMENT

&

SERVICES—continued

63,692

\*,e

Paragon

28,

Inc

$

1,271,929

119,860

Patterson

Cos,

Inc

3,112,764

96,231

\*

Pear

Therapeutics,

Inc

264,635

37,925

\*

Pennant

Group,

Inc

466,857

38,312

\*

PetIQ,

Inc

314,925

68,402

\*

Phreesia,

Inc

1,868,743

62,228

\*

Privia

Health

Group,

Inc

2,083,393

35,736

\*

PROCEPT

BioRobotics

Corp

1,623,486

137,717

\*,†

Progenics

Pharmaceuticals,

Inc

103,387

\*

Progyny,

Inc

4,597,620

204,996

\*

Project

Roadrunner

Parent,

Inc

3,620,229

47,757

\*

Pulmonx

Corp

638,034

67,310

\*

RadNet,

Inc

1,286,967

27,302

\*

RxSight,

Inc

339,637

75,568

\*

Schrodinger,

Inc

1,811,365

49,715

\*

SeaSpine

Holdings

Corp

319,667

144,362

Select

Medical

Holdings

Corp

3,707,216

181,862

\*,e

Sema4

Holdings

Corp

187,318

630,030

\*,e

Senseonics

Holdings,

Inc

743,435

412,986

\*,e

Sharecare,

Inc

792,933

48,797

\*

Shockwave

Medical

Inc

14,304,841

46,870

\*

SI-BONE,

Inc

911,153

31,573

\*,e

Sight

Sciences,

Inc

247,217

47,746

\*

Silk

Road

Medical

Inc

2,104,644

20,979

Simulations

Plus,

Inc

870,629

65,845

\*

Staar

Surgical

Co

4,666,435

52,972

\*

Surgery

Partners,

Inc

1,440,309

19,020

\*

SurModics,

Inc

649,343

29,850

\*

Tactile

Systems

Technology,

Inc

222,084

40,881

\*

Transmedics

Group,

Inc

1,971,282

46,735

\*

Treace

Medical

Concepts,

Inc

1,144,073

9,502

\*

UFP

Technologies,

Inc

891,763

17,354

US

Physical

Therapy,

Inc

1,541,035

4,768

Utah

Medical

Products,

Inc

426,974

54,113

\*

Varex

Imaging

Corp

1,196,438

361,211

\*,e

VG

Acquisition

Corp

1,134,203

76,161

\*,e

Vicarious

Surgical,

Inc

294,743

198,715

\*

ViewRay,

Inc

852,487

29,033

\*

Zimvie,

Inc

254,619

31,851

e

Zynex

Inc

363,101

TOTAL

HEALTH

CARE

EQUIPMENT

&

SERVICES

244,153,734

HOUSEHOLD

&

PERSONAL

PRODUCTS

-

.0

%

137,583

\*,e

Beauty

Health

Co

1,572,574

180,178

\*

BellRing

Brands,

Inc

4,363,911

13,701

\*

Central

Garden

&

Pet

Co

565,440

55,400

\*

Central

Garden

and

Pet

Co

(Class

A)

2,168,356

71,046

Edgewell

Personal

Care

Co

2,784,293

65,880

\*

elf

Beauty,

Inc

2,849,969

93,075

e

Energizer

Holdings,

Inc

2,688,937

133,514

\*

Herbalife

Nutrition

Ltd

2,838,508

91,613

\*

Honest

Co,

Inc

303,239

24,498

Inter

Parfums,

Inc

1,981,398

14,660

Medifast,

Inc

1,715,073

18,571

\*

Nature's

Sunshine

Products,

Inc

156,739

69,405

Nu

Skin

Enterprises,

Inc

(Class

A)

2,650,577

10,434

\*

Thorne

HealthTech,

Inc

50,709

14,647

\*

USANA

Health

Sciences,

Inc

769,114

89,783

\*,e

Veru,

Inc

1,098,944

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

HOUSEHOLD

&

PERSONAL

PRODUCTS—continued

18,609

e

Co

$

2,980,417

TOTAL

HOUSEHOLD

&

PERSONAL

PRODUCTS

31,538,198

INSURANCE

-

.1

%

59,995

\*

AMBAC

Financial

Group,

Inc

842,930

99,934

American

Equity

Investment

Life

Holding

Co

4,305,157

26,646

Amerisafe,

Inc

1,556,393

44,257

Argo

Group

International

Holdings

Ltd

1,100,672

269,623

\*,e

Bright

Health

Group,

Inc

277,712

82,191

\*

BRP

Group,

Inc

2,330,115

153,836

Conseco,

Inc

3,393,622

23,966

Crawford

&

Co

143,556

21,294

Donegal

Group,

Inc

(Class

A)

311,744

34,224

\*

eHealth,

Inc

91,720

37,477

Employers

Holdings,

Inc

1,634,372

15,490

\*

Enstar

Group

Ltd

3,106,055

677,216

\*

Genworth

Financial,

Inc

(Class

A)

3,162,599

25,918

\*,e

Goosehead

Insurance,

Inc

1,075,856

36,612

\*

Greenlight

Capital

Re

Ltd

(Class

A)

309,005

9,033

e

HCI

Group,

Inc

330,969

22,228

\*,e

Hippo

Holdings,

Inc

384,100

57,264

Horace

Mann

Educators

Corp

2,259,637

1,606

Investors

Title

Co

236,002

48,723

James

River

Group

Holdings

Ltd

1,231,230

29,722

Kinsale

Capital

Group,

Inc

9,367,483

64,486

\*

Lemonade,

Inc

1,560,561

65,212

\*,e

MBIA,

Inc

701,681

36,239

Mercury

General

Corp

1,050,931

2,808

National

Western

Life

Group,

Inc

556,040

11,769

\*

NI

Holdings,

Inc

159,823

165,092

\*

Oscar

Health,

Inc

615,793

32,803

\*

Palomar

Holdings,

Inc

2,918,155

73,221

ProAssurance

Corp

1,626,238

53,714

RLI

Corp

6,986,580

10,785

\*,e

Root,

Inc

91,996

19,016

Safety

Insurance

Group,

Inc

1,653,441

81,738

Selective

Insurance

Group,

Inc

8,016,863

187,708

\*

Selectquote,

Inc

126,515

126,833

\*

SiriusPoint

Ltd

814,268

37,746

Stewart

Information

Services

Corp

1,470,584

35,553

Tiptree

Inc

433,036

27,625

\*

Trean

Insurance

Group,

Inc

101,384

53,838

\*,e

Trupanion,

Inc

2,717,204

29,828

United

Fire

Group

Inc

808,339

35,462

Universal

Insurance

Holdings,

Inc

356,038

TOTAL

INSURANCE

70,216,399

MATERIALS

-

.1

%

45,342

\*,e

5E

Advanced

Materials,

Inc

606,676

38,039

AdvanSix,

Inc

1,383,859

170,574

\*

Allegheny

Technologies,

Inc

5,076,282

22,855

Alpha

Metallurgical

Resources,

Inc

3,859,067

41,092

American

Vanguard

Corp

956,211

275,614

\*,e

Amyris,

Inc

774,475

141,425

\*

Arconic

Corp

2,935,983

42,925

\*

Aspen

Aerogels,

Inc

544,289

124,553

Avient

Corp

4,295,833

43,809

Balchem

Corp

6,124,498

76,461

Cabot

Corp

5,618,354

64,370

Carpenter

Technology

Corp

2,407,438

73,534

\*

Century

Aluminum

Co

530,180

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

10,628

Chase

Corp

$

1,001,264

21,892

\*

Clearwater

Paper

Corp

973,756

386,518

\*

Coeur

Mining,

Inc

1,461,038

166,600

Commercial

Metals

Co

7,580,300

46,239

Compass

Minerals

International,

Inc

1,828,290

172,958

\*

Constellium

SE

1,905,997

71,181

\*,e

Dakota

Gold

Corp

245,575

126,852

\*,e

Danimer

Scientific,

Inc

332,352

109,249

\*

Diversey

Holdings

Ltd

589,945

41,500

FutureFuel

Corp

283,860

56,198

Glatfelter

Corp

159,040

34,602

Greif,

Inc

(Class

A)

2,290,998

7,377

Greif,

Inc

(Class

B)

522,365

72,518

H.B.

Fuller

Co

5,055,230

26,964

Hawkins,

Inc

1,214,189

17,167

Haynes

International,

Inc

839,638

769,373

Hecla

Mining

Co

3,516,035

211,507

\*,e

Hycroft

Mining

Holding

Corp

145,855

52,720

\*

Ingevity

Corp

3,546,474

33,443

Innospec,

Inc

3,343,966

13,999

\*

Intrepid

Potash,

Inc

633,455

19,508

\*

Ivanhoe

Electric,

Inc

204,054

22,083

Kaiser

Aluminum

Corp

1,784,086

29,222

Koppers

Holdings,

Inc

729,381

30,976

Kronos

Worldwide,

Inc

294,272

222,593

\*,e

Livent

Corp

7,027,261

40,439

\*

LSB

Industries,

Inc

712,940

28,014

Materion

Corp

2,401,080

44,409

Minerals

Technologies,

Inc

2,442,939

49,797

Myers

Industries,

Inc

1,010,381

326,166

\*

Novagold

Resources

Inc

1,510,149

214,355

\*

O-I

Glass,

Inc

3,496,130

13,023

Olympic

Steel,

Inc

354,356

136,619

\*

Origin

Materials,

Inc

775,996

84,589

Orion

Engineered

Carbons

SA

1,350,040

58,278

Pactiv

Evergreen,

Inc

635,813

168,768

\*

Perimeter

Solutions

S.A.

1,348,456

23,556

\*

Piedmont

Lithium,

Inc

1,465,654

45,204

\*

PolyMet

Mining

Corp

135,160

102,856

\*

PQ

Group

Holdings,

Inc

1,023,417

147,583

\*,e

PureCycle

Technologies,

Inc

1,220,511

18,669

Quaker

Chemical

Corp

3,036,326

31,252

Ramaco

Resources,

Inc

352,835

60,324

\*

Ranpak

Holdings

Corp

229,231

89,839

\*

Rayonier

Advanced

Materials,

Inc

408,767

62,640

\*

Resolute

Forest

Products

1,303,538

26,792

Ryerson

Holding

Corp

898,872

36,097

Schnitzer

Steel

Industries,

Inc

(Class

A)

974,258

76,239

Schweitzer-Mauduit

International,

Inc

1,809,914

57,377

Sensient

Technologies

Corp

4,100,160

29,481

Stepan

Co

3,078,996

164,420

\*

Summit

Materials,

Inc

4,332,467

116,349

SunCoke

Energy,

Inc

844,694

48,383

Sylvamo

Corp

2,330,609

60,981

\*

TimkenSteel

Corp

1,063,509

35,494

Tredegar

Corp

386,530

56,113

Trimas

Corp

1,282,182

44,758

e

Trinseo

plc

842,346

162,463

Tronox

Holdings

plc

1,949,556

2,821

United

States

Lime

&

Minerals,

Inc

355,869

3,773

Valhi,

Inc

103,078

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MATERIALS—continued

69,397

Warrior

Met

Coal,

Inc

$

2,577,405

43,455

Worthington

Industries,

Inc

2,066,720

TOTAL

MATERIALS

136,832,705

MEDIA

&

ENTERTAINMENT

-

.8

%

50,595

\*,e

AdTheorent

Holding

Co,

Inc

107,262

119,692

\*

Advantage

Solutions,

Inc

404,559

42,251

\*

AMC

Networks,

Inc

951,070

15,863

\*

Arena

Group

Holdings,

Inc

223,668

30,157

\*

Boston

Omaha

Corp

840,476

116,739

\*

Bumble,

Inc

2,965,171

45,935

\*

Cardlytics,

Inc

433,167

140,994

\*

Cargurus,

Inc

2,052,873

88,921

\*

Cars.com,

Inc

1,234,224

146,536

\*

Cinemark

Holdings,

Inc

1,554,747

514,235

\*

Clear

Channel

735,356

27,310

\*

Cumulus

Media

Inc

201,275

1,684

\*

Daily

Journal

Corp

451,733

59,741

\*

DHI

Group,

Inc

382,342

148,074

\*

Entercom

Communications

Corp

51,174

83,468

Entravision

Communications

Corp

(Class

A)

390,630

107,546

\*

Eventbrite

Inc

706,577

29,594

\*

EverQuote

Inc

180,228

77,470

\*

EW

Scripps

Co

(Class

A)

1,099,299

249,377

\*,e

fuboTV,

Inc

912,720

12,214

\*

Gambling.com

Group

Ltd

102,353

201,540

\*

Gannett

Co,

Inc

292,233

111,923

Gray

Television,

Inc

1,583,711

170,105

\*

iHeartMedia,

Inc

1,408,469

65,978

\*

Imax

Corp

839,900

106,772

\*,e

Innovid

Corp

399,327

53,517

\*

Integral

Ad

Science

Holding

Corp

450,613

59,799

John

Wiley

&

Sons,

Inc

(Class

A)

2,522,920

43,620

\*,e

Leafly

Holdings,

Inc

38,669

12,287

\*,e

Liberty

Braves

Group

(Class

A)

391,833

49,833

\*

Liberty

Braves

Group

(Class

C)

1,552,796

78,321

\*

Lions

Gate

Entertainment

Corp

(Class

A)

631,267

161,409

\*

Lions

Gate

Entertainment

Corp

(Class

B)

1,225,094

36,074

\*

Madison

Square

Garden

Entertainment

Corp

1,768,708

181,398

\*

Magnite,

Inc

1,322,392

33,377

e

Marcus

Corp

501,990

32,430

\*

MediaAlpha,

Inc

356,081

55,980

\*,e

Outbrain,

Inc

239,594

110,418

\*,e

Playstudios,

Inc

497,985

59,270

\*

PubMatic,

Inc

1,031,298

70,786

\*

QuinStreet,

Inc

807,668

28,672

\*

Reservoir

Media,

Inc

166,298

41,044

Scholastic

Corp

1,565,418

55,927

Sinclair

Broadcast

Group,

Inc

(Class

A)

996,060

427,530

\*,e

Skillz,

Inc

440,356

109,096

\*

Stagwell,

Inc

828,039

37,677

\*

TechTarget,

Inc

2,432,050

303,771

TEGNA,

Inc

6,342,739

35,466

\*

Thryv

Holdings,

Inc

725,634

129,623

\*

TrueCar,

Inc

233,321

11,707

\*

Urban

One,

Inc

70,593

16,827

\*

Urban

One,

Inc

83,630

203,242

\*

Vimeo,

Inc

772,320

18,067

\*

Wejo

Group

Ltd

19,512

74,392

\*

WideOpenWest,

Inc

1,019,914

93,811

\*

Yelp,

Inc

3,603,281

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

MEDIA

&

ENTERTAINMENT—continued

62,551

\*

Ziff

Davis

Inc

$

4,840,822

107,651

\*

ZipRecruiter,

Inc

1,805,307

TOTAL

MEDIA

&

ENTERTAINMENT

59,788,746

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.3

%

52,182

\*

2seventy

bio,

Inc

828,650

42,217

\*

4D

Molecular

Therapeutics,

Inc

365,599

20,225

\*,e

Aadi

Bioscience,

Inc

261,206

281,649

\*,e

AbCellera

Biologics,

Inc

3,331,908

54,540

\*

Absci

Corp

172,346

163,130

\*

Acadia

Pharmaceuticals,

Inc

2,614,974

90,250

\*

Aclaris

Therapeutics,

Inc

1,408,802

61,245

\*

Adagio

Therapeutics,

Inc

241,918

155,802

\*

Adaptive

Biotechnologies

Corp

1,212,140

39,462

\*,e

Adicet

Bio,

Inc

650,728

258,983

\*,e

ADMA

Biologics,

Inc

730,332

65,487

\*

Aerie

Pharmaceuticals,

Inc

996,712

10,316

\*

Aerovate

Therapeutics,

Inc

201,265

198,273

\*

Affimed

NV

348,960

383,559

\*

Agenus,

Inc

962,733

76,307

\*

Agios

Pharmaceuticals,

Inc

2,101,495

38,012

\*

Akero

Therapeutics,

Inc

1,606,387

21,951

\*,e

Akoya

Biosciences,

Inc

301,826

23,945

\*

Albireo

Pharma,

Inc

491,351

86,500

\*

Alector,

Inc

795,800

223,962

\*

Alkermes

plc

5,083,937

108,997

\*,e

Allogene

Therapeutics,

Inc

1,122,669

43,763

\*,e

Allovir,

Inc

303,278

9,350

\*

Alpha

Teknova,

Inc

42,916

18,186

\*

Alpine

Immune

Sciences,

Inc

107,479

30,055

\*,e

ALX

Oncology

Holdings,

Inc

364,868

381,651

\*

Amicus

Therapeutics,

Inc

3,816,510

134,975

\*

Amneal

Pharmaceuticals,

Inc

296,945

53,497

\*

Amphastar

Pharmaceuticals,

Inc

1,653,057

47,389

\*

Amylyx

Pharmaceuticals,

Inc

1,690,366

6,633

\*

AN2

Therapeutics,

Inc

95,648

28,321

\*,e

AnaptysBio,

Inc

817,061

97,162

\*,e

Anavex

Life

Sciences

Corp

1,182,462

17,618

\*

ANI

Pharmaceuticals,

Inc

679,879

20,311

\*

Anika

Therapeutics,

Inc

577,239

129,105

\*

Apellis

Pharmaceuticals,

Inc

7,809,561

150,622

\*,e

Arbutus

Biopharma

Corp

352,455

37,408

\*

Arcellx,

Inc

878,340

31,160

\*

Arcturus

Therapeutics

Holdings,

Inc

551,532

71,113

\*

Arcus

Biosciences,

Inc

1,811,959

57,016

\*

Arcutis

Biotherapeutics,

Inc

1,008,043

140,868

\*

Arrowhead

Pharmaceuticals

Inc

4,903,615

67,069

\*

Arvinas,

Inc

3,334,000

123,720

\*

Atara

Biotherapeutics,

Inc

576,535

105,147

\*

Atea

Pharmaceuticals,

Inc

630,882

47,470

\*,e

Athira

Pharma,

Inc

157,126

25,495

\*

Aura

Biosciences,

Inc

315,883

182,012

\*,e

Aurinia

Pharmaceuticals,

Inc

1,479,758

84,807

\*

Avid

Bioservices,

Inc

1,436,631

71,462

\*

Avidity

Biosciences,

Inc

1,020,477

40,609

\*,e

Axsome

Therapeutics,

Inc

1,833,496

87,026

\*

Beam

Therapeutics,

Inc

3,834,366

78,244

\*

Berkeley

Lights,

Inc

173,702

251,906

\*

BioCryst

Pharmaceuticals,

Inc

3,362,945

43,837

\*

Biohaven

Ltd

726,379

393,253

\*,e

Bionano

Genomics,

Inc

920,212

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

26,789

\*,e

Bioxcel

Therapeutics

Inc

$

337,273

105,755

\*,e

Bluebird

Bio,

Inc

663,084

82,290

\*

Blueprint

Medicines

Corp

4,265,914

143,844

\*,e

Bridgebio

Pharma,

Inc

1,500,293

56,607

\*

C4

Therapeutics,

Inc

544,559

59,968

\*,e

Cara

Therapeutics,

Inc

563,699

71,907

\*

CareDx,

Inc

1,431,668

75,876

\*

Caribou

Biosciences,

Inc

739,032

51,462

\*,e

Cassava

Sciences,

Inc

1,875,275

130,137

\*

Catalyst

Pharmaceuticals,

Inc

1,805,000

61,170

\*

Celldex

Therapeutics,

Inc

2,148,902

95,043

\*

Celularity,

Inc

221,450

26,194

\*,e

Century

Therapeutics,

Inc

275,037

73,280

\*

Cerevel

Therapeutics

Holdings,

Inc

2,048,909

114,296

\*

Chimerix,

Inc

202,304

69,506

\*

Chinook

Therapeutics,

Inc

1,511,755

25,801

\*

CinCor

Pharma,

Inc

867,946

89,565

\*

Codexis,

Inc

503,355

84,436

\*

Cogent

Biosciences,

Inc

1,152,551

100,420

\*

Coherus

Biosciences,

Inc

873,654

48,337

\*

Collegium

Pharmaceutical,

Inc

867,166

118,506

\*

Corcept

Therapeutics,

Inc

3,389,272

70,511

\*

Crinetics

Pharmaceuticals,

Inc

1,301,633

133,390

\*

CTI

BioPharma

Corp

653,611

40,484

\*,e

Cullinan

Oncology,

Inc

531,960

158,465

\*

Cytek

Biosciences,

Inc

2,459,377

113,126

\*

Cytokinetics,

Inc

4,939,081

38,659

\*

Day

One

Biopharmaceuticals,

Inc

817,251

62,906

\*

Deciphera

Pharmaceuticals,

Inc

1,020,335

135,850

\*

Denali

Therapeutics,

Inc

3,896,178

47,309

\*,e

Design

Therapeutics,

Inc

738,967

39,607

\*

DICE

Therapeutics,

Inc

1,406,445

162,440

\*

Dynavax

Technologies

Corp

1,859,938

43,355

\*

Dyne

Therapeutics,

Inc

494,247

14,382

\*

Eagle

Pharmaceuticals,

Inc

452,602

41,628

\*,e

Edgewise

Therapeutics,

Inc

395,882

97,325

\*,e

Editas

Medicine,

Inc

1,221,429

57,260

\*

Eiger

BioPharmaceuticals,

Inc

292,599

70,201

\*

Emergent

Biosolutions,

Inc

1,464,393

27,427

\*

Enanta

Pharmaceuticals,

Inc

1,237,232

27,646

\*,e

Enochian

Biosciences

Inc

56,121

264,624

\*,e

EQRx,

Inc

1,360,167

90,817

\*,e

Erasca,

Inc

741,975

88,750

\*,e

Esperion

Thereapeutics,

Inc

721,537

49,373

\*

Evolus,

Inc

422,633

32,437

\*,e

EyePoint

Pharmaceuticals,

Inc

175,160

113,106

\*

Fate

Therapeutics,

Inc

2,366,178

121,270

\*

FibroGen,

Inc

1,974,276

28,008

\*

Foghorn

Therapeutics,

Inc

244,790

45,403

\*,e

Fulcrum

Therapeutics,

Inc

252,441

64,840

\*

Generation

Bio

Co

331,981

495,247

\*,e

Geron

Corp

1,099,448

87,373

\*,e

Gossamer

Bio,

Inc

969,840

101,597

\*,e

GreenLight

Biosciences

Holdings

PBC

180,843

186,165

\*

Halozyme

Therapeutics,

Inc

8,900,549

36,193

\*

Harmony

Biosciences

Holdings,

Inc

1,882,036

145,136

\*,e

Heron

Therapeutics,

Inc

558,774

18,113

\*

HilleVax,

Inc

387,256

24,625

\*,e

Humacyte,

Inc

84,833

34,554

\*

Icosavax,

Inc

118,520

48,776

\*

Ideaya

Biosciences,

Inc

823,827

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

13,418

\*,e

IGM

Biosciences,

Inc

$

268,360

34,907

\*,e

Imago

Biosciences,

Inc

593,419

111,459

\*,e

ImmunityBio,

Inc

613,024

298,473

\*

Immunogen,

Inc

1,772,930

49,942

\*

Immunovant,

Inc

559,350

38,245

\*

Inhibrx,

Inc

1,230,724

84,663

\*

Innoviva,

Inc

1,148,030

22,231

\*,e

Inotiv,

Inc

461,960

346,227

\*,e

Inovio

Pharmaceuticals,

Inc

747,850

165,215

\*

Insmed,

Inc

2,861,524

97,000

\*,e

Instil

Bio,

Inc

320,100

103,225

\*

Intellia

Therapeutics,

Inc

5,448,215

33,587

\*,e

Intercept

Pharmaceuticals,

Inc

465,852

125,087

\*

Intra-Cellular

Therapies,

Inc

5,712,723

208,717

\*

Iovance

Biotherapeutics,

Inc

1,949,417

185,623

\*

Ironwood

Pharmaceuticals,

Inc

2,030,716

33,162

\*

iTeos

Therapeutics,

Inc

645,996

160,768

\*

IVERIC

bio,

Inc

3,845,571

25,197

\*,e

Janux

Therapeutics,

Inc

455,562

51,612

\*

Jounce

Therapeutics,

Inc

112,514

32,824

\*

KalVista

Pharmaceuticals

Inc

166,418

40,847

\*

Karuna

Therapeutics,

Inc

8,959,381

106,245

\*

Karyopharm

Therapeutics,

Inc

505,726

25,105

\*

Keros

Therapeutics,

Inc

1,263,786

73,473

\*

Kezar

Life

Sciences,

Inc

552,150

43,001

\*

Kiniksa

Pharmaceuticals

Ltd

491,071

40,933

\*,e

Kinnate

Biopharma,

Inc

345,065

49,058

\*

Kodiak

Sciences,

Inc

352,236

51,601

\*

Kronos

Bio,

Inc

152,739

29,146

\*

Krystal

Biotech

Inc

2,229,669

84,976

\*

Kura

Oncology,

Inc

1,318,828

51,376

\*

Kymera

Therapeutics,

Inc

1,558,748

106,290

\*

Lexicon

Pharmaceuticals,

Inc

228,523

21,024

\*

Ligand

Pharmaceuticals,

Inc

(Class

B)

1,842,754

66,537

\*,e

Liquidia

Corp

325,366

233,430

\*,e

Lyell

Immunopharma,

Inc

1,372,568

82,943

\*

MacroGenics,

Inc

424,668

17,160

\*

Madrigal

Pharmaceuticals,

Inc

1,215,271

336,430

\*,e

MannKind

Corp

1,137,133

121,346

\*,e

MaxCyte,

Inc

839,714

34,740

\*

Medpace

Holdings,

Inc

7,711,585

38,773

\*

MeiraGTx

Holdings

plc

281,880

122,354

\*

Mersana

Therapeutics,

Inc

961,702

147,691

\*,e

MiMedx

Group,

Inc

437,165

25,173

\*

Mirum

Pharmaceuticals,

Inc

567,651

41,302

\*

Monte

Rosa

Therapeutics,

Inc

379,978

35,874

\*

Morphic

Holding,

Inc

1,004,831

110,028

\*

Myriad

Genetics,

Inc

2,281,981

65,874

\*

NanoString

Technologies,

Inc

689,042

66,458

\*,e

Nautilus

Biotechnology,

Inc

164,151

256,048

\*

Nektar

Therapeutics

962,740

178,636

\*

NeoGenomics,

Inc

1,358,527

54,749

\*

NGM

Biopharmaceuticals

Inc

292,360

45,244

\*,e

Nkarta,

Inc

570,527

62,887

\*

Nurix

Therapeutics,

Inc

800,552

23,600

\*,e

Nuvalent,

Inc

842,756

162,547

\*,e

Nuvation

Bio,

Inc

357,603

281,776

\*,e

Ocugen,

Inc

484,655

109,895

\*

Ocular

Therapeutix,

Inc

396,721

99,130

\*

Organogenesis

Holdings

Inc

325,146

146,573

\*,e

Outlook

Therapeutics,

Inc

170,025

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

306,740

\*,e

Pacific

Biosciences

of

California,

Inc

$

2,588,886

61,281

\*

Pacira

BioSciences

Inc

3,171,905

39,406

\*,e

Pardes

Biosciences,

Inc

47,287

11,657

\*,e

PepGen,

Inc

143,148

32,352

\*,e

Phathom

Pharmaceuticals,

Inc

342,931

28,478

Phibro

Animal

Health

Corp

418,342

52,216

\*,e

PMV

Pharmaceuticals,

Inc

642,779

95,335

\*

Point

Biopharma

Global,

Inc

889,476

48,161

\*

Praxis

Precision

Medicines,

Inc

94,877

148,497

\*

Precigen,

Inc

240,565

67,929

\*

Prestige

Consumer

Healthcare,

Inc.

3,700,772

41,547

\*

Prometheus

Biosciences,

Inc

2,182,048

64,744

\*

Protagonist

Therapeutics,

Inc

524,426

48,719

\*

Prothena

Corp

plc

2,993,295

85,790

\*,e

Provention

Bio,

Inc

595,383

96,269

\*

PTC

Therapeutics,

Inc

3,640,894

47,125

\*

Quanterix

Corp

521,674

130,597

\*,e

Quantum-Si,

Inc

395,709

22,091

\*,e

Rallybio

Corp

211,190

36,290

\*

RAPT

Therapeutics,

Inc

791,848

37,861

\*,e

Reata

Pharmaceuticals,

Inc

1,219,124

183,815

\*,e

Recursion

Pharmaceuticals,

Inc

1,939,248

55,718

\*

REGENXBIO,

Inc

1,318,845

103,761

\*

Relay

Therapeutics,

Inc

2,305,569

37,055

\*,e

Relmada

Therapeutics,

Inc

236,781

56,453

\*

Replimune

Group,

Inc

1,036,477

97,890

\*

Revance

Therapeutics,

Inc

2,183,926

103,986

\*

REVOLUTION

Medicines,

Inc

2,106,756

267,513

\*

Rigel

Pharmaceuticals,

Inc

194,910

62,195

\*

Rocket

Pharmaceuticals,

Inc

1,160,559

70,834

\*

Sage

Therapeutics,

Inc

2,667,608

120,462

\*,e

Sana

Biotechnology,

Inc

698,680

177,702

\*

Sangamo

Therapeutics

Inc

780,112

86,813

\*

Science

Holdings,

Inc

125,879

72,739

\*

Seer,

Inc

569,546

96,729

\*

Seres

Therapeutics,

Inc

857,019

65,159

SIGA

Technologies,

Inc

598,811

76,382

\*,e

Singular

Genomics

Systems,

Inc

203,176

208,538

\*

SomaLogic,

Inc

723,627

540,904

\*,e

Sorrento

Therapeutics,

Inc

849,219

46,867

\*

SpringWorks

Therapeutics,

Inc

1,125,277

29,887

\*

Stoke

Therapeutics,

Inc

443,822

68,311

\*

Supernus

Pharmaceuticals,

Inc

2,341,018

67,890

\*

Sutro

Biopharma,

Inc

497,634

74,138

\*

Syndax

Pharmaceuticals,

Inc

1,702,208

64,979

\*,e

Tango

Therapeutics,

Inc

522,431

25,346

\*

Tarsus

Pharmaceuticals,

Inc

466,873

40,959

\*,e

Tenaya

Therapeutics,

Inc

109,770

176,130

\*

TG

Therapeutics,

Inc

1,025,077

83,764

\*

Theravance

Biopharma,

Inc

835,127

21,024

\*

Theseus

Pharmaceuticals,

Inc

113,109

84,367

\*

Travere

Therapeutics,

Inc

1,829,077

76,783

\*

Twist

Bioscience

Corp

2,520,786

18,400

\*,e

Tyra

Biosciences,

Inc

127,328

77,049

\*

Vanda

Pharmaceuticals,

Inc

806,703

176,407

\*,e

Vaxart

Inc

294,600

92,473

\*

Vaxcyte,

Inc

4,032,748

291,530

\*,e

VBI

Vaccines,

Inc

209,931

29,187

\*

Ventyx

Biosciences,

Inc

944,783

19,644

\*

Vera

Therapeutics,

Inc

366,164

100,066

\*

Veracyte,

Inc

2,012,327

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES—continued

65,311

\*

Vericel

Corp

$

1,755,560

61,453

\*,e

Verve

Therapeutics,

Inc

2,316,778

100,162

\*

Vir

Biotechnology,

Inc

2,201,561

33,696

\*

Viridian

Therapeutics,

Inc

670,550

272,139

\*

VistaGen

Therapeutics,

Inc

36,086

78,476

\*

Xencor,

Inc

2,197,328

185,451

\*,e

Xeris

Biopharma

Holdings,

Inc

296,722

50,449

\*

Y-mAbs

Therapeutics,

Inc

182,121

65,677

\*

Zentalis

Pharmaceuticals,

Inc

1,647,836

83,039

\*,†

Zogenix,

Inc

56,467

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

308,370,124

REAL

ESTATE

-

.3

%

129,596

Acadia

Realty

Trust

1,810,456

108,651

Agree

Realty

Corp

7,464,324

95,919

Alexander

&

Baldwin,

Inc

1,868,502

2,930

Alexander's,

Inc

688,228

68,188

American

Assets

Trust,

Inc

1,873,806

187,059

American

Finance

Trust,

Inc

1,279,484

199,310

Apartment

Investment

and

Management

Co

1,582,521

293,529

Apple

Hospitality

REIT,

Inc

5,025,216

93,037

Armada

Hoffler

Properties,

Inc

1,087,603

38,707

\*

Ashford

Hospitality

Trust,

Inc

314,301

4,870

\*

Bluerock

Homes

Trust,

Inc

123,211

95,713

BraeMar

Hotels

&

Resorts,

Inc

471,865

236,646

Brandywine

Realty

Trust

1,552,398

231,378

Broadstone

Net

Lease,

Inc

3,965,819

16,742

Brt

Realty

Trust

371,003

133,256

CareTrust

REIT,

Inc

2,489,222

37,231

CBL

&

Associates

Properties,

Inc

1,069,647

21,424

Centerspace

1,484,683

66,980

\*

Chatham

Lodging

Trust

868,731

54,938

City

Office

REIT,

Inc

583,442

13,183

Clipper

Realty,

Inc

93,467

33,133

Community

Healthcare

Trust,

Inc

1,146,402

382,619

\*,e

Compass,

Inc

1,010,114

155,233

Corporate

Office

Properties

Trust

4,136,959

22,758

CTO

Realty

Growth,

Inc

457,436

214,793

\*

Cushman

&

Wakefield

plc

2,480,859

282,569

DiamondRock

Hospitality

Co

2,639,194

226,097

DigitalBridge

Group,

Inc

2,894,042

332,930

Diversified

Healthcare

Trust

452,785

191,687

\*,e

Doma

Holdings,

Inc

104,009

109,262

Douglas

Elliman,

Inc

504,790

126,289

Easterly

Government

Properties,

Inc

2,196,166

181,558

Empire

State

Realty

Trust,

Inc

1,338,082

144,562

Equity

Commonwealth

3,781,742

191,867

Essential

Properties

Realty

Trust,

Inc

4,128,978

94,388

e

eXp

World

Holdings

Inc

1,246,865

63,919

Farmland

Partners,

Inc

895,505

20,795

\*

Forestar

Group,

Inc

240,806

110,826

Four

Corners

Property

Trust,

Inc

2,839,362

144,551

Franklin

Street

Properties

Corp

416,307

8,758

\*

FRP

Holdings,

Inc

530,998

57,502

Getty

Realty

Corp

1,810,738

53,876

Gladstone

Commercial

Corp

947,679

45,018

Gladstone

Land

Corp

916,116

88,786

Global

Medical

REIT,

Inc

811,504

144,302

Global

Net

Lease,

Inc

1,767,699

46,084

Hersha

Hospitality

Trust

421,669

308,573

Independence

Realty

Trust,

Inc

5,171,683

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

REAL

ESTATE—continued

7,062

Indus

Realty

Trust,

Inc

$

365,741

90,707

Industrial

Logistics

Properties

Trust

424,509

37,753

Innovative

Industrial

Properties,

Inc

4,081,099

94,443

InvenTrust

Properties

Corp

2,379,964

92,401

iStar

Inc

968,362

163,678

Kennedy-Wilson

Holdings,

Inc

2,718,692

299,316

Kite

Realty

Group

Trust

5,878,566

382,498

Lexington

Realty

Trust

3,702,581

55,220

LTC

Properties,

Inc

2,135,357

290,290

Macerich

Co

3,230,928

120,337

\*

Mack-Cali

Realty

Corp

1,904,935

34,558

Marcus

&

Millichap,

Inc

1,273,117

58,707

National

Health

Investors,

Inc

3,328,687

83,107

NETSTREIT

Corp

1,564,074

190,756

Newmark

Group,

Inc

1,562,292

31,916

NexPoint

Residential

Trust,

Inc

1,455,370

30,000

\*,e

Offerpad

Solutions,

Inc

29,235

66,023

Office

Properties

Income

Trust

1,010,152

22,032

One

Liberty

Properties,

Inc

496,601

79,594

Orion

Office

REIT,

Inc

745,796

198,978

Outfront

Media,

Inc

3,591,553

265,421

Paramount

Group,

Inc

1,717,274

180,073

Pebblebrook

Hotel

Trust

2,888,371

160,715

Phillips

Edison

&

Co,

Inc

4,843,950

307,552

Physicians

Realty

Trust

4,631,733

171,598

Piedmont

Office

Realty

Trust,

Inc

1,793,199

52,730

Plymouth

Industrial

REIT,

Inc

972,341

24,761

Postal

Realty

Trust,

Inc

388,252

108,704

PotlatchDeltic

Corp

4,836,241

23,216

Re/Max

Holdings,

Inc

451,783

154,521

\*

Realogy

Holdings

Corp

1,148,091

150,429

\*,e

Redfin

Corp

723,563

165,241

Retail

Opportunities

Investment

Corp

2,392,690

217,419

RLJ

Lodging

Trust

2,645,989

20,232

RMR

Group,

Inc

553,750

116,491

RPT

Realty

1,083,366

74,080

Ryman

Hospitality

Properties

6,587,194

315,022

Sabra

Healthcare

REIT,

Inc

4,303,201

29,119

Safehold,

Inc

851,731

16,118

Saul

Centers,

Inc

660,032

219,944

Service

Properties

Trust

1,783,746

268,321

SITE

Centers

Corp

3,321,814

47,301

e

St.

Joe

Co

1,680,605

248,186

STAG

Industrial,

Inc

7,840,196

8,230

Stratus

Properties,

Inc

243,279

150,610

Summit

Hotel

Properties,

Inc

1,301,270

288,453

Sunstone

Hotel

Investors,

Inc

3,216,251

135,737

Tanger

Factory

Outlet

Centers,

Inc

2,444,623

28,845

\*

Tejon

Ranch

Co

488,634

102,143

Terreno

Realty

Corp

5,836,451

1,743

\*

Transcontinental

Realty

Investors,

Inc

71,620

69,115

UMH

Properties,

Inc

1,212,277

330,016

Uniti

Group,

Inc

2,560,924

16,723

Universal

Health

Realty

Income

Trust

813,908

159,447

Urban

Edge

Properties

2,251,392

40,891

Urstadt

Biddle

Properties,

Inc

(Class

A)

766,297

121,868

Washington

REIT

2,326,460

62,723

Whitestone

REIT

590,223

157,900

Xenia

Hotels

&

Resorts,

Inc

2,696,932

TOTAL

REAL

ESTATE

209,123,682

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING

-

.9

%

36,380

\*

1-800-FLOWERS.COM,

Inc

(Class

A)

$

265,210

28,633

\*

1stdibs.com,

Inc

193,845

44,172

Aaron's

Co,

Inc

460,272

69,194

\*

Abercrombie

&

Fitch

Co

(Class

A)

1,216,431

113,220

Academy

Sports

&

Outdoors,

Inc

4,985,077

14,388

\*

aka

Brands

Holding

Corp

29,352

209,256

American

Eagle

Outfitters,

Inc

2,377,148

8,391

\*

America's

Car-Mart,

Inc

573,609

116,988

Arko

Corp

1,199,127

30,416

\*

Asbury

Automotive

Group,

Inc

4,798,124

166,909

\*,e

BARK,

Inc

305,444

100,445

\*,e

Bed

Bath

&

Beyond,

Inc

459,034

29,233

e

Big

Sporting

Goods

Corp

376,813

39,199

e

Big

Lots,

Inc

739,685

40,167

\*

Boot

Barn

Holdings,

Inc

2,281,486

81,493

\*

Boxed,

Inc

40,738

41,887

Buckle,

Inc

1,647,416

19,768

Build-A-Bear

Workshop,

Inc

347,719

48,727

Caleres,

Inc

1,331,709

53,948

Camping

World

Holdings,

Inc

1,501,373

59,900

\*

CarParts.com,

Inc

280,332

22,602

Cato

Corp

(Class

A)

269,190

165,428

\*

Chico's

FAS,

Inc

972,717

18,530

\*

Children's

Place,

Inc

750,094

10,704

\*

Citi

Trends,

Inc

242,018

18,024

\*

Conn's,

Inc

147,977

42,895

\*

Container

Store

Group,

Inc

232,920

811,536

\*,e

ContextLogic,

Inc

635,433

77,512

Designer

Brands,

Inc

1,180,508

76,705

\*

Destination

XL

Group,

Inc

512,389

5,546

e

Dillard's,

Inc

(Class

A)

1,823,469

20,264

\*

Duluth

Holdings,

Inc

176,297

92,293

\*,e

EVgo,

Inc

683,891

70,212

\*,e

Express

Parent

LLC

85,659

110,997

Foot

Locker,

Inc

3,518,605

38,340

Franchise

Group,

Inc

1,163,619

44,369

\*

Funko,

Inc

916,220

18,260

\*

Genesco,

Inc

858,950

21,193

Group

Automotive,

Inc

3,666,389

32,196

\*,e

Groupon,

Inc

237,285

80,682

\*,e

GrowGeneration

Corp

288,035

43,647

e

Guess?,

Inc

741,126

20,154

e

Haverty

Furniture

Cos,

Inc

535,693

17,930

Hibbett

Sports,

Inc

1,119,191

18,169

JOANN,

Inc

96,114

22,463

\*

Lands'

End,

Inc

235,412

33,773

\*

Liquidity

Services,

Inc

580,220

23,158

\*,e

Lulu's

Fashion

Lounge

Holdings,

Inc

144,969

41,895

\*

Lumber

Liquidators,

Inc

348,566

29,604

\*

MarineMax,

Inc

956,505

43,664

Monro

Muffler,

Inc

2,084,956

29,645

e

Murphy

USA,

Inc

9,323,649

108,441

\*

National

Vision

Holdings,

Inc

4,016,655

58,318

\*

ODP

Corp

2,307,643

15,384

\*

OneWater

Marine,

Inc

507,672

59,043

\*

Overstock.com,

Inc

1,372,750

153,715

\*,e

Party

City

Holdco,

Inc

259,778

29,033

e

PetMed

Express,

Inc

618,984

113,284

\*,e

Porch

Group,

Inc

154,066

64,200

\*

Poshmark,

Inc

1,146,612

122,870

\*

Quotient

Technology,

Inc

302,260

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

RETAILING—continued

487,538

Qurate

Retail

Group,

Inc

QVC

Group

$

1,140,839

108,626

\*,e

RealReal,

Inc

183,578

65,513

\*,e

Rent

the

Runway,

Inc

127,750

74,293

Rent-A-Center,

Inc

1,549,009

55,994

\*,e

Revolve

Group,

Inc

1,343,856

12,705

\*

RumbleON,

Inc

207,981

143,817

\*

Sally

Beauty

Holdings,

Inc

1,827,914

24,101

Shoe

Carnival,

Inc

577,942

33,713

Shutterstock,

Inc

1,686,661

63,235

Signet

Jewelers

Ltd

4,125,451

28,674

\*

Sleep

Number

Corp

795,417

28,323

Sonic

Automotive,

Inc

(Class

A)

1,324,100

59,219

\*

Sportsman's

Warehouse

Holdings,

Inc

531,787

115,618

\*

Stitch

Fix

Inc

462,472

82,384

\*,e

ThredUp,

Inc

101,332

34,197

Tilly's,

Inc

302,985

19,891

\*,e

Torrid

Holdings,

Inc

98,063

16,636

\*

TravelCenters

of

America,

Inc

1,057,717

88,690

\*,e

Urban

Outfitters,

Inc

2,116,143

34,551

\*,e

Vivid

Seats,

Inc

283,318

171,436

\*,e

Volta,

Inc

190,294

111,772

\*

Warby

Parker,

Inc

1,793,941

8,228

Weyco

Group,

Inc

212,529

3,974

Winmark

Corp

1,000,017

46,460

\*,e

Xometry,

Inc

2,790,388

21,845

\*

Zumiez,

Inc

489,983

TOTAL

RETAILING

96,945,897

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

-

.3

%

61,906

\*

ACM

Research,

Inc

396,198

30,740

\*

Alpha

&

Omega

Semiconductor

Ltd

1,006,735

50,195

\*

Ambarella,

Inc

2,747,172

137,027

Amkor

Technology,

Inc

2,848,791

28,637

\*,e

Atomera,

Inc

258,019

44,784

\*

Axcelis

Technologies,

Inc

2,597,472

56,094

\*

AXT,

Inc

254,667

32,245

\*

Ceva,

Inc

891,897

\*,†

China

Energy

Savings

Technology,

Inc

66,450

\*

Cohu,

Inc

2,187,534

127,890

\*

Credo

Technology

Group

Holding

Ltd

1,757,209

10,013

\*

CyberOptics

Corp

540,402

61,444

\*

Diodes,

Inc

4,403,691

106,092

\*

Formfactor,

Inc

2,144,119

37,652

\*

Ichor

Holdings

Ltd

957,867

29,031

\*

Impinj,

Inc

3,327,824

139,359

\*,e

indie

Semiconductor,

Inc

1,089,787

78,321

e

Kulicke

&

Soffa

Industries,

Inc

3,284,783

69,211

\*

MACOM

Technology

Solutions

Holdings,

Inc

4,005,241

99,663

\*

MaxLinear,

Inc

3,077,593

67,778

\*

Nanometrics,

Inc

4,530,282

41,641

\*

PDF

Solutions,

Inc

981,895

82,717

\*

Photronics,

Inc

1,341,670

77,786

Power

Integrations,

Inc

5,189,104

150,748

\*

Rambus,

Inc

4,546,560

44,961

\*

Rigetti

Computing,

Inc

94,418

142,445

\*,e

Rockley

Photonics

Holdings

Ltd

72,661

86,695

\*

Semtech

Corp

2,400,585

46,633

\*

Silicon

Laboratories,

Inc

5,359,064

22,475

\*

SiTime

Corp

2,018,480

10,225

\*,e

SkyWater

Technology,

Inc

82,925

65,006

\*

SMART

Global

Holdings,

Inc

879,531

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT—continued

113,509

\*,e

SunPower

Corp

$

2,098,781

54,838

\*

Synaptics,

Inc

4,858,647

29,962

\*

Transphorm,

Inc

206,738

61,058

\*

Ultra

Clean

Holdings

1,899,514

69,232

\*

Veeco

Instruments,

Inc

1,262,099

TOTAL

SEMICONDUCTORS

&

SEMICONDUCTOR

EQUIPMENT

75,599,955

SOFTWARE

&

SERVICES

-

.8

%

166,946

\*,e

8x8,

Inc

706,182

89,862

A10

Networks,

Inc

1,509,682

158,810

\*

ACI

Worldwide,

Inc

3,863,847

145,042

Adeia,

Inc

1,621,570

26,318

\*

Agilysys,

Inc

1,688,826

65,843

\*

Alarm.com

Holdings,

Inc

3,874,202

50,009

\*

Alkami

Technology,

Inc

792,643

71,950

\*

Altair

Engineering,

Inc

3,529,148

48,611

American

Software,

Inc

(Class

A)

832,706

78,133

\*,e

Amplitude,

Inc

1,312,634

26,352

\*

Appfolio,

Inc

3,303,750

54,431

\*,e

Appian

Corp

2,657,321

11,267

\*,e

Applied

Blockchain,

Inc

25,351

23,647

\*,e

Arteris,

Inc

131,004

100,317

\*,e

Asana,

Inc

2,066,530

182,154

\*,e

AvePoint,

Inc

796,013

196,719

\*

AvidXchange

Holdings,

Inc

1,790,143

39,105

\*

Benefitfocus,

Inc

275,690

90,489

\*

BigCommerce

Holdings,

Inc

1,344,667

64,279

\*

Blackbaud,

Inc

3,516,061

75,918

\*

Blackline,

Inc

4,251,408

258,384

\*,e

Blend

Labs,

Inc

648,544

191,656

\*

Box,

Inc

5,567,607

68,796

Bread

Financial

Holdings,

Inc

2,484,224

52,707

\*

Brightcove,

Inc

353,137

134,265

\*

BTRS

Holdings,

Inc

1,267,462

96,290

\*,e

C3.ai,

Inc

1,262,362

81,678

\*

Cantaloupe,

Inc

273,621

17,462

Cass

Information

Systems,

Inc

747,024

63,698

\*,e

Cerberus

Cyber

Sentinel

Corp

220,395

50,945

\*

Cerence

Inc

876,254

39,236

\*

ChannelAdvisor

Corp

903,997

54,565

\*,e

Cipher

Mining,

Inc

55,111

57,378

\*,e

Cleanspark,

Inc

199,675

84,875

\*,e

Clear

Secure,

Inc

2,293,323

60,385

\*

Commvault

Systems,

Inc

3,676,843

236,633

\*

Conduent,

Inc

974,928

22,286

\*

Consensus

Cloud

Solutions,

Inc

1,251,136

37,025

\*

Couchbase,

Inc

473,920

31,049

\*

CS

Disco,

Inc

332,845

43,126

CSG

Systems

International,

Inc

2,788,958

63,986

\*,e

Cvent

Holding

Corp

374,318

49,348

\*

Cyxtera

Technologies,

Inc

119,422

19,558

\*,e

Digimarc

Corp

319,578

127,065

\*

Digital

Turbine,

Inc

1,855,149

96,427

\*

DigitalOcean

Holdings,

Inc

3,463,658

41,771

\*

Domo,

Inc

738,094

108,079

\*

Duck

Creek

Technologies,

Inc

1,290,463

276,112

\*,e

E2open

Parent

Holdings,

Inc

1,609,733

36,372

e

Ebix,

Inc

719,802

32,005

\*

eGain

Corp

257,640

34,478

\*

Enfusion,

Inc

488,553

48,560

\*

EngageSmart,

Inc

953,718

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

74,849

\*

Envestnet,

Inc

$

3,690,804

53,523

\*

Everbridge,

Inc

1,676,876

33,468

\*

EverCommerce,

Inc

291,506

86,072

EVERTEC,

Inc

3,082,238

65,468

\*

Evo

Payments,

Inc

2,205,617

44,408

\*

ExlService

Holdings,

Inc

8,075,595

157,389

\*,e

Fastly,

Inc

1,336,233

77,092

\*

Flywire

Corp

1,692,169

40,463

\*

ForgeRock,

Inc

912,845

18,115

\*,e

Greenidge

Generation

Holdings,

Inc

17,611

64,393

\*

Grid

Dynamics

Holdings,

Inc

876,389

36,361

Hackett

Group,

Inc

794,124

28,943

\*

I3

Verticals,

Inc

629,800

8,594

\*

IBEX

Ltd

165,263

49,632

Information

Services

Group,

Inc

269,502

23,999

\*,e

Instructure

Holdings,

Inc

566,856

19,278

\*,e

Intapp,

Inc

432,984

41,539

InterDigital,

Inc

2,071,550

45,505

\*

International

Money

Express

Inc

1,230,000

90,684

\*

IronNet,

Inc

64,386

41,840

\*

Kaleyra,

Inc

35,987

99,879

\*

KnowBe4,

Inc

2,455,026

153,125

\*,e

Latch,

Inc

205,188

191,666

\*

Limelight

Networks,

Inc

515,582

98,268

\*

Liveperson,

Inc

1,038,693

89,139

\*

LiveRamp

Holdings,

Inc

1,636,592

12,391

\*,e

LiveVox

Holdings,

Inc

38,536

148,654

\*,e

Marathon

Digital

Holdings,

Inc

1,948,854

593,963

\*

Marqeta,

Inc

4,680,428

300,861

\*,e

Matterport,

Inc

1,050,005

83,172

MAXIMUS,

Inc

5,129,217

31,294

\*

MeridianLink,

Inc

563,292

12,743

\*,e

MicroStrategy,

Inc

(Class

A)

3,408,880

59,675

\*

Mitek

Systems,

Inc

674,924

51,242

\*,e

Model

N,

Inc

1,947,196

126,646

\*

MoneyGram

International,

Inc

1,341,181

89,727

\*

N-Able,

Inc

971,743

93,916

\*,e

NextNav,

Inc

322,132

124,676

\*,e

Olo,

Inc

1,098,396

58,089

\*

ON24,

Inc

472,844

53,118

\*

OneSpan,

Inc

583,767

118,621

\*

Pagerduty,

Inc

2,958,408

121,960

\*

Paya

Holdings,

Inc

980,558

301,316

\*

Payoneer

Global,

Inc

2,335,199

473,090

\*,e

Paysafe

Ltd

690,711

46,584

\*

Perficient,

Inc

3,119,731

23,054

\*,e

PFSweb,

Inc

220,627

25,156

\*,e

Priority

Technology

Holdings

Inc

129,050

60,341

Progress

Software

Corp

3,079,201

57,434

\*

PROS

Holdings,

Inc

1,432,978

76,512

\*

Q2

Holdings,

Inc

2,374,933

52,706

\*

Qualys,

Inc

7,513,767

80,728

\*,e

Rackspace

Technology,

Inc

415,749

80,798

\*

Rapid7,

Inc

3,657,725

131,228

\*

Remitly

Global,

Inc

1,524,869

123,186

\*

Repay

Holdings

Corp

750,203

68,658

\*

Rimini

Street,

Inc

385,171

178,610

\*

Riot

Blockchain,

Inc

1,230,623

453,137

\*

Sabre

Corp

2,632,726

42,689

Sapiens

International

Corp

NV

839,693

13,501

\*

SecureWorks

Corp

110,438

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

SOFTWARE

&

SERVICES—continued

11,953

\*

ShotSpotter,

Inc

$

454,214

67,188

\*

SolarWinds

Corp

626,864

63,616

\*

Sprout

Social,

Inc

3,837,953

49,457

\*

SPS

Commerce,

Inc

6,257,300

41,309

\*,e

Squarespace,

Inc

917,473

382,950

\*

StoneCo

Ltd

4,020,975

158,027

\*

Sumo

Logic,

Inc

1,218,388

175,766

\*

SVMK,

Inc

1,363,944

75,208

\*

Telos

Corp

797,205

149,863

\*

Tenable

Holdings,

Inc

6,090,432

30,573

\*

Terawulf,

Inc

34,853

25,716

TTEC

Holdings,

Inc

1,143,591

13,579

\*,e

Tucows,

Inc

610,376

93,710

\*

Unisys

Corp

796,535

40,708

\*

Upland

Software,

Inc

327,292

66,026

\*

UserTesting,

Inc

488,592

150,433

\*

Varonis

Systems,

Inc

4,027,091

88,218

\*

Verint

Systems,

Inc

3,125,564

43,830

\*,e

Veritone,

Inc

324,780

194,010

\*

Verra

Mobility

Corp

3,311,751

17,360

\*

Viant

Technology,

Inc

79,162

43,626

\*

Weave

Communications,

Inc

239,943

100,235

\*,e

WM

Technology,

Inc

205,482

65,297

\*

Workiva,

Inc

5,080,760

163,785

\*

Yext,

Inc

871,336

152,483

\*,e

Zeta

Global

Holdings

Corp

1,271,708

161,837

\*

Zuora

Inc

1,244,527

TOTAL

SOFTWARE

&

SERVICES

224,082,134

TECHNOLOGY

HARDWARE

&

EQUIPMENT

-

.7

%

170,000

\*

3D

Systems

Corp

1,501,100

30,205

\*,e

908

Devices,

Inc

482,978

96,904

ADTRAN

Holdings,

Inc

2,176,464

51,140

Advanced

Energy

Industries,

Inc

4,022,161

136,154

\*,e

Aeva

Technologies,

Inc

272,308

37,087

\*,e

AEye,

Inc

32,284

77,848

\*,e

Akoustis

Technologies,

Inc

259,234

119,370

\*

Arlo

Technologies,

Inc

614,755

15,093

\*

Aviat

Networks,

Inc

492,937

49,533

\*

Avid

Technology,

Inc

1,361,662

39,699

Badger

Meter,

Inc

4,465,344

58,681

Belden

CDT,

Inc

4,085,958

48,952

Benchmark

Electronics,

Inc

1,389,747

77,679

\*

Calix,

Inc

5,720,282

15,390

\*

Cambium

Networks

Corp

297,796

53,715

\*,e

Casa

Systems,

Inc

169,202

66,552

\*,e

Cepton,

Inc

146,414

15,860

\*

Clearfield,

Inc

1,926,514

278,492

\*

CommScope

Holding

Co,

Inc

3,687,234

11,162

\*,e

CompoSecure,

Inc

59,605

37,852

Comtech

Telecommunications

Corp

418,265

53,537

\*,e

Corsair

Gaming,

Inc

738,811

43,276

CTS

Corp

1,710,268

29,302

\*

Diebold,

Inc

72,962

46,873

\*

Digi

International,

Inc

1,890,388

19,584

\*

DZS,

Inc

311,190

78,672

\*,e

Eastman

Kodak

Co

420,895

35,831

\*

ePlus,

Inc

1,745,686

117,515

\*

Evolv

Technologies

Holdings,

Inc

344,319

170,226

\*

Extreme

Networks,

Inc

3,053,854

50,772

\*

Fabrinet

5,808,317

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TECHNOLOGY

HARDWARE

&

EQUIPMENT—continued

25,759

\*

FARO

Technologies,

Inc

$

752,420

24,715

\*,e

Focus

Universal,

Inc

251,599

126,098

\*

Harmonic,

Inc

1,948,214

32,348

\*

Identiv,

Inc

389,793

264,557

\*,e

Infinera

Corp

1,484,165

130,514

\*,e

Inseego

Corp

294,962

42,848

\*

Insight

Enterprises,

Inc

4,049,564

166,324

\*,e

IonQ,

Inc

979,648

61,222

\*

Itron,

Inc

2,993,144

33,585

\*

Kimball

Electronics,

Inc

694,202

130,358

\*

Knowles

Corp

1,792,422

151,156

\*,e

Lightwave

Logic,

Inc

1,280,291

50,544

Methode

Electronics,

Inc

2,083,929

222,042

\*,e

Microvision,

Inc

812,674

191,285

\*

Mirion

Technologies,

Inc

1,545,583

40,666

\*

Napco

Security

Technologies,

Inc

1,155,728

39,595

\*

Netgear,

Inc

778,042

94,193

\*

Netscout

Systems,

Inc

3,383,413

64,894

\*

nLight,

Inc

698,908

48,930

\*

Novanta,

Inc

6,918,702

47,801

\*,e

Ondas

Holdings,

Inc

191,204

23,045

\*

OSI

Systems,

Inc

1,893,838

186,294

\*,e

Ouster,

Inc

232,868

37,135

\*,e

PAR

Technology

Corp

1,068,745

15,952

PC

Connection,

Inc

847,689

37,725

\*

Plexus

Corp

3,712,140

82,300

\*

Ribbon

Communications,

Inc

218,095

25,686

\*

Rogers

Corp

6,044,686

79,212

\*

Sanmina

Corp

4,439,833

35,769

\*

Scansource,

Inc

1,108,124

169,690

\*,e

SmartRent,

Inc

466,648

62,566

\*

Super

Micro

Computer,

Inc

4,353,968

141,677

\*

TTM

Technologies,

Inc

2,169,075

23,429

\*

Turtle

Beach

Corp

182,746

272,220

\*,e

Velodyne

Lidar,

Inc

268,817

310,105

\*

Viavi

Solutions,

Inc

4,682,586

180,008

Vishay

Intertechnology,

Inc

3,763,967

16,057

\*

Vishay

Precision

Group,

Inc

541,924

157,993

Xerox

Holdings

Corp

2,311,438

58,016

\*

Xperi,

Inc

810,484

TOTAL

TECHNOLOGY

HARDWARE

&

EQUIPMENT

123,275,212

TELECOMMUNICATION

SERVICES

-

.8

%

25,303

\*

Anterix,

Inc

970,370

16,039

ATN

International,

Inc

691,602

33,774

\*

Bandwidth

Inc

400,897

181,053

\*,e

Charge

Enterprises,

Inc

401,938

59,179

Cogent

Communications

Group,

Inc

3,107,489

105,124

\*

Consolidated

Communications

Holdings,

Inc

543,491

46,178

\*

EchoStar

Corp

(Class

A)

871,379

906,553

\*,e

Globalstar,

Inc

1,967,220

69,407

\*

Gogo,

Inc

986,967

18,230

\*

IDT

Corp

(Class

B)

475,074

174,908

\*

Iridium

Communications,

Inc

9,013,009

49,275

\*,e

KORE

Group

Holdings,

Inc

150,781

56,787

\*

Liberty

Latin

America

Ltd

(Class

A)

441,803

204,596

\*

Liberty

Latin

America

Ltd

(Class

C)

1,593,803

34,046

\*

Ooma,

Inc

552,567

103,088

\*

Radius

Global

Infrastructure,

Inc

963,873

67,527

Shenandoah

Telecom

Co

1,530,162

139,750

Telephone

&

Data

Systems,

Inc

2,375,750

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

TELECOMMUNICATION

SERVICES—continued

19,974

\*

US

Cellular

Corp

$

622,590

TOTAL

TELECOMMUNICATION

SERVICES

27,660,765

TRANSPORTATION

-

.5

%

82,248

\*

Air

Transport

Services

Group,

Inc

2,401,642

20,906

\*

Allegiant

Travel

Co

1,568,995

32,996

ArcBest

Corp

2,620,872

38,244

\*

Atlas

Air

Worldwide

Holdings,

Inc

3,867,998

71,530

\*

Blade

Air

Mobility,

Inc

321,885

67,157

Costamare,

Inc

633,962

13,322

Covenant

Transportation

Group,

Inc

504,105

58,964

\*

Daseke,

Inc

351,426

18,943

e

Eagle

Bulk

Shipping,

Inc

916,462

32,081

e

Eneti,

Inc

263,706

37,122

Forward

Air

Corp

3,930,106

52,086

\*

Frontier

Group

Holdings,

Inc

682,848

51,649

Genco

Shipping

&

Trading

Ltd

692,097

169,766

e

Golden

Ocean

Group

Ltd

1,414,151

70,276

\*

Hawaiian

Holdings,

Inc

1,014,083

66,883

Heartland

Express,

Inc

995,219

46,207

\*

Hub

Group,

Inc

(Class

A)

3,585,663

343,489

\*

Joby

Aviation,

Inc

1,655,617

79,314

Marten

Transport

Ltd

1,488,724

52,212

Matson,

Inc

3,841,759

8,979

\*

PAM

Transportation

Services,

Inc

250,065

51,745

\*

Radiant

Logistics,

Inc

314,092

102,066

Safe

Bulkers,

Inc

258,227

36,398

\*

Saia,

Inc

7,238,106

69,227

\*

Skywest,

Inc

1,223,933

148,219

Spirit

Airlines,

Inc

3,260,818

46,129

\*

Sun

Country

Airlines

Holdings,

Inc

750,980

187,293

\*,e

TuSimple

Holdings,

Inc

642,415

10,420

Universal

Logistics

Holdings

Inc

333,440

87,580

Werner

Enterprises,

Inc

3,433,136

213,542

\*

Wheels

Up

Experience,

Inc

377,969

TOTAL

TRANSPORTATION

50,834,501

UTILITIES

-

.3

%

78,148

Allete,

Inc

4,397,388

52,024

\*

Altus

Power,

Inc

518,159

51,373

American

States

Water

Co

4,647,202

11,287

Artesian

Resources

Corp

590,084

98,933

Avista

Corp

4,059,221

89,485

Black

Hills

Corp

5,849,634

133,740

Brookfield

Infrastructure

Corp

5,766,869

74,346

California

Water

Service

Group

4,613,913

23,916

Chesapeake

Utilities

Corp

2,974,672

46,923

Clearway

Energy,

Inc

(Class

A)

1,517,021

111,412

Clearway

Energy,

Inc

(Class

C)

3,870,453

17,733

Global

Water

Resources,

Inc

226,273

49,349

MGE

Energy,

Inc

3,360,173

23,972

Middlesex

Water

Co

2,144,775

87,614

\*,e

Montauk

Renewables,

Inc

1,311,582

131,964

New

Jersey

Resources

Corp

5,890,873

46,539

Northwest

Natural

Holding

Co

2,238,060

76,224

NorthWestern

Corp

4,026,914

73,791

ONE

Gas,

Inc

5,717,327

62,458

e

Ormat

Technologies,

Inc

5,649,326

56,687

Otter

Tail

Corp

3,821,837

117,082

PNM

Resources,

Inc

5,440,801

123,110

Portland

General

Electric

Co

5,532,563

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

REFERENCERATE

&

SPREAD

VALUE

UTILITIES—continued

29,806

\*

Pure

Cycle

Corp

$

257,226

37,635

SJW

Corp

2,660,042

168,716

South

Jersey

Industries,

Inc

5,849,384

91,806

Southwest

Gas

Holdings

Inc

6,708,264

69,748

Spire,

Inc

4,869,108

137,442

\*,e

Sunnova

Energy

International,

Inc

2,548,175

22,151

Unitil

Corp

1,167,579

20,201

e

Via

Renewables,

Inc

141,205

19,768

York

Water

Co

861,094

TOTAL

UTILITIES

109,227,197

TOTAL

COMMON

STOCKS

3,284,011,424

(Cost

$2,565,947,964)

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

ENERGY

-

.0

%

Chord

Energy

Corp

09/01/24

TOTAL

ENERGY

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

-

.0

%

20,265

†

Chinook

Therapeutics,

Inc

9,351

†

Tobira

Therapeutics,

Inc

561

TOTAL

PHARMACEUTICALS,

BIOTECHNOLOGY

&

LIFE

SCIENCES

561

TOTAL

RIGHTS/WARRANTS

667

(Cost

$561)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

5.9%

REPURCHASE

AGREEMENT

-

.6

%

$

19,475,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

%

11/01/22

19,475,000

TOTAL

REPURCHASE

AGREEMENT

19,475,000

SHARES

COMPANY

EXP

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.3

%

175,032,594

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

175,032,594

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

175,032,594

TOTAL

SHORT-TERM

INVESTMENTS

194,507,594

(Cost

$194,507,594)

TOTAL

INVESTMENTS

-

105.3%

3,478,519,685

(Cost

$2,760,456,119)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(5.3)%

(175,439,476)

NET

ASSETS

-

100.0%

$

3,303,080,209

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$205,568,720.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$19,475,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$19,864,572.

Portfolio

of

investments

Small-Cap

Blend

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

concluded

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

Russell

2000

E

Mini

Index

12/16/22

$

16,680,018

$

17,881,450

$

1,201,432

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BONDS

-

0.0%

CORPORATE

BONDS

-

.0

%

INDIA

-

.0

%

INR

1,648,737

Britannia

Industries

Ltd

.500

%

06/03/24

$

19,277

TOTAL

INDIA

19,277

TOTAL

CORPORATE

BONDS

19,277

(Cost

$22,656)

TOTAL

BONDS

19,277

(Cost

$22,656)

SHARES

COMPANY

COMMON

STOCKS

-

98.4%

BRAZIL

-

.4

%

3,755,297

AMBEV

S.A.

11,631,933

507,288

Americanas

S.A.

1,526,136

357,700

Atacadao

Distribuicao

Comercio

e

Industria

Ltd

1,347,564

4,895,946

B3

SA-Brasil

Bolsa

Balcao

14,255,160

1,289,228

Banco

Bradesco

S.A.

4,153,084

4,327,804

Banco

Bradesco

S.A.

(Preference)

16,639,277

984,800

Banco

BTG

Pactual

S.A.

-

Unit

5,517,397

672,083

Banco

do

Brasil

S.A.

4,816,671

294,774

Banco

Santander

Brasil

S.A.

1,699,423

558,548

BB

Seguridade

Participacoes

S.A.

3,210,394

144,900

Braskem

S.A.

945,616

450,804

\*

BRF

S.A.

1,096,138

830,541

Centrais

Eletricas

Brasileiras

S.A.

8,010,367

192,192

Centrais

Eletricas

Brasileiras

S.A.

(Preference)

1,983,869

921,942

Cia

de

Concessoes

Rodoviarias

2,313,110

266,558

Cia

de

Saneamento

Basico

do

Estado

de

Sao

Paulo

3,101,372

1,172,335

Cia

Energetica

de

Minas

Gerais

2,580,476

596,730

Cia

Siderurgica

Nacional

S.A.

1,418,613

917,783

Cosan

SA

Industria

e

Comercio

2,995,610

212,180

CPFL

Energia

S.A.

1,454,925

142,200

Energisa

S.A.

1,334,871

197,325

Engie

Brasil

Energia

S.A.

1,536,427

867,065

Equatorial

Energia

S.A.

5,040,744

863,775

Gerdau

S.A.

(Preference)

4,305,915

3,722,186

g

Hapvida

Participacoes

e

Investimentos

S.A.

5,620,569

348,778

Hypermarcas

S.A.

3,430,725

Inter

&

Co,

Inc

3,619,203

Investimentos

Itau

S.A.

-

PR

7,524,972

3,910,153

Itau

Unibanco

Holding

S.A.

23,012,032

610,033

Klabin

S.A.

2,553,270

580,382

Localiza

Rent

A

Car

7,925,689

1,780

\*,h

Localiza

Rent

a

Car

S.A.

24,308

780,854

Lojas

Renner

S.A.

4,671,065

2,369,060

\*

Magazine

Luiza

S.A.

2,050,082

690,019

Natura

&

Co

Holding

S.A.

1,997,054

728,200

\*

Petro

Rio

S.A.

4,989,062

3,064,023

Petroleo

Brasileiro

S.A.

19,728,856

3,909,968

Petroleo

Brasileiro

S.A.

(Preference)

22,564,349

810,615

Raia

Drogasil

S.A.

4,128,793

283,700

g

Rede

D'Or

Sao

Luiz

S.A.

1,766,843

1,044,627

Rumo

S.A.

4,477,406

584,920

Suzano

SA

6,024,149

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

BRAZIL—continued

437,821

Telefonica

Brasil

S.A.

$

3,501,381

805,966

TIM

S.A.

2,059,578

390,000

Totvus

S.A.

2,503,611

614,760

Ultrapar

Participacoes

S.A.

1,595,960

3,210,700

Vale

S.A.

41,725,736

936,127

Vibra

Energia

S.A.

3,307,389

1,319,234

Weg

S.A.

10,287,241

TOTAL

BRAZIL

290,385,215

CHILE

-

.6

%

38,221,126

Banco

de

Chile

3,495,603

47,550

Banco

de

Credito

e

Inversiones

1,324,949

44,326,061

Banco

Santander

Chile

S.A.

1,587,939

1,118,207

Cencosud

S.A.

1,505,165

104,410

Cia

Cervecerias

Unidas

S.A.

573,093

12,730,891

Compania

SudAmericana

de

Vapores

S.A.

884,160

1,029,178

Empresas

CMPC

S.A.

1,632,941

336,199

Empresas

COPEC

S.A.

2,316,869

17,037,926

Enel

Chile

S.A.

599,640

16,323,774

Enersis

S.A.

1,617,437

612,023

SACI

Falabella

1,195,341

116,683

Sociedad

Quimica

y

Minera

de

Chile

S.A.

(Class

B)

11,080,301

TOTAL

CHILE

27,813,438

CHINA

-

.3

%

87,900

Finance,

Inc

(ADR)

893,064

202,200

Security

Technology,

Inc

196,439

1,275,000

g

3SBio,

Inc

900,414

592,500

e

AAC

Technologies

Holdings,

Inc

1,085,330

27,856

\*

Advanced

Micro-Fabrication

Equipment,

Inc

China

423,160

38,500

AECC

Aero-Engine

Control

Co

Ltd

158,600

90,500

AECC

Aviation

Power

Co

Ltd

605,209

25,197,043

Agricultural

Bank

of

China

Ltd

7,192,074

5,168,900

Agricultural

Bank

of

China

Ltd

(Class

A)

1,955,857

350,119

Aier

Eye

Hospital

Group

Co

Ltd

1,188,151

356,390

\*

Air

China

Ltd

473,615

1,594,000

\*

Air

China

Ltd

(H

shares)

1,109,322

115,530

Airtac

International

Group

2,643,722

12,255,588

\*

Alibaba

Group

Holding

Ltd

95,286,053

3,556,284

\*

Alibaba

Health

Information

Technology

Ltd

1,505,034

646,000

g

A-Living

Services

Co

Ltd

366,578

3,136,000

Aluminum

Corp

of

China

Ltd

894,016

785,700

Aluminum

Corp

of

China

Ltd

(Class

A)

416,555

15,390

\*

Amlogic

Shanghai

Co

Ltd

121,013

37,600

Angel

Yeast

Co

Ltd

186,987

1,048,782

Anhui

Conch

Cement

Co

Ltd

2,699,493

234,700

Anhui

Conch

Cement

Co

Ltd

(Class

A)

782,399

114,451

Anhui

Gujing

Distillery

Co

Ltd

1,349,967

20,900

Anhui

Gujing

Distillery

Co

Ltd

(Class

A)

565,923

19,760

Anhui

Honglu

Steel

Construction

Group

Co

Ltd

92,439

51,700

Anhui

Kouzi

Distillery

Co

Ltd

287,176

28,600

Anhui

Yingjia

Distillery

Co

Ltd

184,908

981,486

Anta

Sports

Products

Ltd

8,628,848

130,700

Apeloa

Pharmaceutical

Co

Ltd

372,762

92,600

\*

Asia-Potash

International

Investment

Guangzhou

Co

Ltd

323,528

15,400

Asymchem

Laboratories

Tianjin

Co

Ltd

300,624

63,000

Autohome,

Inc

(ADR)

1,645,560

84,800

Avary

Holding

Shenzhen

Co

Ltd

346,511

294,858

Avic

Capital

Co

Ltd

122,589

90,600

AVIC

Electromechanical

Systems

Co

Ltd

145,262

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

1,054,861

AviChina

Industry

&

Technology

Co

$

461,999

14,700

AVICOPTER

plc

88,605

1,780,712

\*

Baidu,

Inc

17,071,677

1,832,459

Bank

of

Beijing

Co

Ltd

1,014,931

259,086

Bank

of

Changsha

Co

Ltd

228,858

155,305

Bank

of

Chengdu

Co

Ltd

290,104

2,742,543

Bank

of

China

Ltd

-

A

1,131,572

65,418,425

Bank

of

China

Ltd

-

H

21,069,781

2,621,700

Bank

of

Communications

Co

Ltd

-

A

1,599,750

7,944,934

Bank

of

Communications

Co

Ltd

-

H

3,876,483

259,700

Bank

of

Hangzhou

Co

Ltd

430,881

728,110

Bank

of

Jiangsu

Co

Ltd

691,039

516,900

Bank

of

Nanjing

Co

Ltd

731,853

286,768

Bank

of

Ningbo

Co

Ltd

935,959

1,257,509

Bank

of

Shanghai

Co

Ltd

962,209

1,134,400

Baoshan

Iron

&

Steel

Co

Ltd

749,071

1,000,500

BBMG

Corp

319,991

36,800

\*

BeiGene

Ltd

(ADR)

6,215,152

1,828,830

\*

Beijing

Capital

International

Airport

Co

Ltd

990,375

264,900

Beijing

Dabeinong

Technology

Group

Co

Ltd

333,111

19,500

Beijing

Easpring

Material

Technology

Co

Ltd

158,434

67,700

Beijing

Enlight

Media

Co

Ltd

62,527

447,000

Beijing

Enterprises

Holdings

Ltd

1,133,994

2,887,583

Beijing

Enterprises

Water

Group

Ltd

606,675

19,254

Beijing

Kingsoft

Office

Software,

Inc

769,103

38,900

Beijing

Kunlun

Tech

Co

Ltd

69,521

79,600

Beijing

New

Building

Materials

plc

216,713

202,800

Beijing

Originwater

Technology

Co

Ltd

130,932

3,070

Beijing

Roborock

Technology

Co

Ltd

99,234

39,788

Beijing

Shiji

Information

Technology

Co

Ltd

69,079

60,500

Beijing

Shunxin

Agriculture

Co

Ltd

170,027

35,100

Beijing

Sinnet

Technology

Co

Ltd

41,704

80,784

Beijing

Tiantan

Biological

Products

Corp

Ltd

229,743

70,200

Beijing

Tongrentang

Co

Ltd

469,662

15,080

Beijing

United

Information

Technology

Co

Ltd

256,546

24,070

Beijing

Wantai

Biological

Pharmacy

Enterprise

Co

Ltd

414,070

6,100

Beijing

Yuanliu

Hongyuan

Electronic

Technology

Co

Ltd

95,783

1,891,400

Beijing-Shanghai

High

Speed

Railway

Co

Ltd

1,157,370

11,900

Betta

Pharmaceuticals

Co

Ltd

74,480

16,700

BGI

Genomics

Co

Ltd

126,800

19,240

\*

Bilibili,

Inc

171,455

132,827

\*

Bilibili,

Inc

(ADR)

1,184,817

15,332

Bloomage

Biotechnology

Corp

Ltd

223,765

162,200

BOC

International

China

Co

Ltd

235,204

1,729,600

BOE

Technology

Group

Co

Ltd

793,405

2,504,000

e

Bosideng

International

Holdings

Ltd

1,081,494

76,400

BTG

Hotels

Group

Co

Ltd

227,628

86,900

BYD

Co

Ltd

2,942,372

679,201

BYD

Co

Ltd

(H

shares)

15,216,228

593,000

e

BYD

Electronic

International

Co

Ltd

1,723,247

51,300

By-health

Co

Ltd

123,371

195,650

Caitong

Securities

Co

Ltd

192,059

6,152

CanSino

Biologics,

Inc

159,928

67,200

e,g

CanSino

Biologics,

Inc

624,780

353,100

CECEP

Solar

Energy

Co

Ltd

328,269

260,900

CECEP

Wind-Power

Corp

153,384

6,220,000

g

CGN

Power

Co

Ltd

1,259,970

15,300

Chacha

Food

Co

Ltd

92,890

16,900

Changchun

High

&

New

Technology

Industry

Group,

Inc

376,040

23,945

Changjiang

Securities

Co

Ltd

17,144

12,800

Changzhou

Xingyu

Automotive

Lighting

Systems

Co

Ltd

215,024

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

127,100

Chaozhou

Three-Circle

Group

Co

Ltd

$

494,925

228,600

Chengtun

Mining

Group

Co

Ltd

174,048

38,600

Chengxin

Lithium

Group

Co

Ltd

229,703

55,800

\*

Chifeng

Jilong

Gold

Mining

Co

Ltd

144,530

161,600

China

Baoan

Group

Co

Ltd

256,284

8,164,097

China

Cinda

Asset

Management

Co

Ltd

758,373

8,362,530

China

Citic

Bank

3,152,318

1,708,000

China

Coal

Energy

Co

1,256,069

2,790,000

China

Communications

Services

Corp

Ltd

778,505

1,356,500

China

Conch

Venture

Holdings

Ltd

2,000,696

918,600

China

Construction

Bank

Corp

-

A

672,486

78,293,641

China

Construction

Bank

Corp

-

H

41,549,515

201,900

China

CSSC

Holdings

Ltd

735,711

469,600

\*

China

Eastern

Airlines

Corp

Ltd

309,696

1,330,900

China

Energy

Engineering

Corp

Ltd

417,623

3,187,200

China

Everbright

Bank

Co

Ltd

-

A

1,189,003

3,170,000

China

Everbright

Bank

Co

Ltd

-

H

819,617

2,873,888

China

Everbright

International

Ltd

955,999

2,974,000

g

China

Feihe

Ltd

1,713,188

2,998,245

China

Galaxy

Securities

Co

Ltd

1,122,714

135,300

China

Galaxy

Securities

Co

Ltd

(Class

A)

167,560

2,520,268

China

Gas

Holdings

Ltd

2,236,686

273,500

China

Great

Wall

Securities

Co

Ltd

303,579

74,800

China

Greatwall

Technology

Group

Co

Ltd

114,509

2,072,000

China

Hongqiao

Group

Ltd

1,466,455

2,230,000

\*,†

China

Huishan

Dairy

Holdings

Co

Ltd

2,841

1,324,224

China

Insurance

International

Holdings

Co

Ltd

917,081

1,297,006

g

China

International

Capital

Corp

Ltd

1,802,474

46,100

China

International

Capital

Corp

Ltd

219,385

91,200

China

International

Travel

Service

Corp

Ltd

2,003,970

2,718,000

China

Jinmao

Holdings

Group

Ltd

360,116

182,544

China

Jushi

Co

Ltd

293,053

1,030,000

China

Lesso

Group

Holdings

Ltd

835,997

6,367,880

China

Life

Insurance

Co

Ltd

6,943,898

124,100

China

Life

Insurance

Co

Ltd

(Class

A)

452,798

325,000

\*,g

China

Literature

Ltd

876,805

2,682,341

China

Longyuan

Power

Group

Corp

3,065,031

1,186,000

China

Medical

System

Holdings

Ltd

1,296,207

74,340

China

Meheco

Co

Ltd

128,541

418,000

China

Meidong

Auto

Holdings

Ltd

548,992

2,566,000

China

Mengniu

Dairy

Co

Ltd

8,214,146

3,227,368

China

Merchants

Bank

Co

Ltd

10,566,079

967,495

China

Merchants

Bank

Co

Ltd

(Class

A)

3,569,503

511,900

China

Merchants

Energy

Shipping

Co

Ltd

490,877

1,178,894

China

Merchants

Holdings

International

Co

Ltd

1,382,132

247,620

China

Merchants

Securities

Co

Ltd

425,264

438,000

China

Merchants

Shekou

Industrial

Zone

Holdings

Co

Ltd

789,626

43,000

China

Minmetals

Rare

Earth

Co

Ltd

170,284

2,696,258

China

Minsheng

Banking

Corp

Ltd

-

A

1,219,678

6,225,514

e

China

Minsheng

Banking

Corp

Ltd

-

H

1,808,041

2,661,000

China

Molybdenum

Co

Ltd

856,714

918,300

China

Molybdenum

Co

Ltd

(Class

A)

522,963

3,351,913

China

National

Building

Material

Co

Ltd

1,946,342

256,700

China

National

Chemical

Engineering

Co

Ltd

249,350

493,400

China

National

Nuclear

Power

Co

Ltd

408,373

201,200

China

Northern

Rare

Earth

Group

High-Tech

Co

Ltd

670,194

1,868,773

China

Oilfield

Services

Ltd

2,103,713

1,977,294

China

Overseas

Land

&

Investment

Ltd

3,778,448

665,000

China

Overseas

Property

Holdings

Ltd

418,529

346,400

China

Pacific

Insurance

Group

Co

Ltd

-

A

904,334

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

2,379,400

China

Pacific

Insurance

Group

Co

Ltd

-

H

$

3,835,576

4,296,000

China

Power

International

Development

Ltd

1,241,497

1,165,611

China

Railway

Group

Ltd

-

A

797,796

3,970,000

China

Railway

Group

Ltd

-

H

1,726,215

143,819

China

Railway

Signal

&

Communication

Corp

Ltd

89,306

1,305,038

China

Resources

Beer

Holdings

Company

Ltd

6,157,880

2,157,226

China

Resources

Cement

Holdings

Ltd

779,764

750,000

China

Resources

Gas

Group

Ltd

1,920,877

2,629,555

China

Resources

Land

Ltd

8,227,307

45,334

China

Resources

Microelectronics

Ltd

315,229

658,207

g

China

Resources

Mixc

Lifestyle

Services

Ltd

1,927,487

1,647,372

China

Resources

Power

Holdings

Co

2,393,751

49,425

China

Resources

Sanjiu

Medical

&

Pharmaceutical

Co

Ltd

369,672

381,600

China

Shenhua

Energy

Co

Ltd

-

A

1,463,948

2,877,000

China

Shenhua

Energy

Co

Ltd

-

H

7,557,469

1,450,000

\*,e

China

Southern

Airlines

Co

Ltd

748,553

454,500

\*

China

Southern

Airlines

Co

Ltd

(Class

A)

403,905

2,273,010

China

State

Construction

Engineering

Corp

Ltd

1,478,056

1,740,000

China

State

Construction

International

Holdings

Ltd

1,565,285

1,866,000

China

Suntien

Green

Energy

Cor

707,664

1,369,000

China

Three

Gorges

Renewables

Group

Co

Ltd

1,046,628

23,716,778

g

China

Tower

Corp

Ltd

2,145,772

1,528,500

China

Vanke

Co

Ltd

1,961,566

607,200

China

Vanke

Co

Ltd

(Class

A)

1,125,475

739,000

China

Yangtze

Power

Co

Ltd

2,056,572

18,500

China

Zhenhua

Group

Science

&

Technology

Co

Ltd

342,453

1,138,781

China

Zheshang

Bank

Co

Ltd

430,805

2,128,000

Chinasoft

International

Ltd

1,409,956

18,500

Chongqing

Brewery

Co

Ltd

221,404

320,866

Chongqing

Changan

Automobile

Co

Ltd

496,565

26,500

Chongqing

Fuling

Zhacai

Group

Co

Ltd

81,837

1,349,852

Chongqing

Rural

Commercial

Bank

Co

Ltd

645,808

66,800

Chongqing

Zhifei

Biological

Products

Co

Ltd

781,310

5,064,738

Citic

Pacific

Ltd

4,532,152

1,749,232

CITIC

Securities

Co

Ltd

2,613,622

571,680

CITIC

Securities

Co

Ltd

(Class

A)

1,349,289

14,200

CNGR

Advanced

Material

Co

Ltd

140,923

130,065

CNNC

Hua

Yuan

Titanium

Dioxide

Co

Ltd

119,211

110,200

Contemporary

Amperex

Technology

Co

Ltd

5,655,432

1,840,196

COSCO

Pacific

Ltd

907,477

317,000

COSCO

SHIPPING

Development

Co

Ltd

106,152

238,900

COSCO

SHIPPING

Energy

Transportation

Co

Ltd

553,503

615,810

COSCO

SHIPPING

Holdings

Co

Ltd

-

A

949,047

2,573,800

COSCO

SHIPPING

Holdings

Co

Ltd

-

H

2,773,711

7,552,416

e

Country

Garden

Holdings

Co

Ltd

973,442

1,665,000

Country

Garden

Services

Holdings

Co

Ltd

1,455,253

188,900

CSC

Financial

Co

Ltd

613,072

7,267,489

CSPC

Pharmaceutical

Group

Ltd

7,464,885

49,456

Da

An

Gene

Co

Ltd

of

Sun

Yat-Sen

University

120,964

2,006,000

g

Dali

Foods

Group

Co

Ltd

825,734

1,389,900

Dalian

Port

PDA

Co

Ltd

303,007

1,109,200

Daqin

Railway

Co

Ltd

974,176

48,200

\*

Daqo

New

Energy

Corp

(ADR)

2,120,318

28,800

DaShenLin

Pharmaceutical

Group

Co

Ltd

143,575

66,900

DHC

Software

Co

Ltd

56,638

34,200

Do-Fluoride

New

Materials

Co

Ltd

146,245

56,200

Dong-E-E-Jiao

Co

Ltd

289,133

145,100

Dongfang

Electric

Corp

Ltd

462,240

2,393,917

Dongfeng

Motor

Group

Co

Ltd

1,083,018

231,500

Dongxing

Securities

Co

Ltd

246,721

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

1,204,000

Dongyue

Group

$

1,044,929

618,488

East

Money

Information

Co

Ltd

1,325,848

18,900

Ecovacs

Robotics

Co

Ltd

151,701

665,228

ENN

Energy

Holdings

Ltd

6,613,726

115,700

ENN

Natural

Gas

Co

Ltd

246,479

95,861

Eve

Energy

Co

Ltd

1,093,952

182,800

Everbright

Securities

Co

Ltd

352,648

142,860

Fangda

Carbon

New

Material

Co

Ltd

117,757

1,007,000

Far

East

Horizon

Ltd

777,635

93,400

FAW

Jiefang

Group

Co

Ltd

89,167

24,811

Fiberhome

Telecommunication

Technologies

Co

Ltd

46,973

178,400

First

Capital

Securities

Co

Ltd

136,073

341,000

e

Flat

Glass

Group

Co

Ltd

799,851

55,300

\*

Flat

Glass

Group

Co

Ltd

259,901

845,140

Focus

Media

Information

Technology

Co

Ltd

520,060

177,104

Foshan

Haitian

Flavouring

&

Food

Co

Ltd

1,451,531

2,145,452

Fosun

International

1,311,090

353,400

Founder

Securities

Co

Ltd

306,920

431,400

Foxconn

Industrial

Internet

Co

Ltd

485,465

12,000

Fu

Jian

Anjoy

Foods

Co

Ltd

221,268

68,400

Fujian

Sunner

Development

Co

Ltd

205,832

89,400

Fuyao

Glass

Industry

Group

Co

Ltd

-

A

409,665

517,698

g

Fuyao

Glass

Industry

Group

Co

Ltd

-

H

1,855,277

301,320

g

Ganfeng

Lithium

Co

Ltd

2,038,013

70,440

Ganfeng

Lithium

Co

Ltd

762,635

1,500

G-bits

Network

Technology

Xiamen

Co

Ltd

52,428

286,300

\*

GCL

System

Integration

Technology

Co

Ltd

128,355

1,118,283

GD

Power

Development

Co

Ltd

670,157

724,200

\*

GDS

Holdings

Ltd

808,316

4,958,828

Geely

Automobile

Holdings

Ltd

5,336,598

268,600

GEM

Co

Ltd

273,872

300,600

Gemdale

Corp

323,555

1,004,000

\*

Genscript

Biotech

Corp

2,538,443

924,600

GF

Securities

Co

Ltd

940,696

293,100

GF

Securities

Co

Ltd

(Class

A)

548,786

35,800

Giant

Network

Group

Co

Ltd

38,042

27,468

Gigadevice

Semiconductor

Beijing,

Inc

310,448

18,750

\*

Ginlong

Technologies

Co

Ltd

480,771

136,500

GoerTek,

Inc

405,212

70,200

Gotion

High-tech

Co

Ltd

290,248

131,400

Great

Wall

Motor

Co

Ltd

525,264

2,565,266

Great

Wall

Motor

Co

Ltd

2,802,301

181,900

Gree

Electric

Appliances,

Inc

of

Zhuhai

716,337

744,500

Greentown

China

Holdings

Ltd

710,306

1,329,305

Greentown

Service

Group

Co

Ltd

543,886

51,700

GRG

Banking

Equipment

Co

Ltd

66,758

83,900

Guangdong

Haid

Group

Co

Ltd

664,294

2,596,000

Guangdong

Investments

Ltd

1,636,717

28,200

Guangdong

Kinlong

Hardware

Products

Co

Ltd

306,765

881,500

Guanghui

Energy

Co

Ltd

1,242,195

222,800

Guangzhou

Automobile

Group

Co

Ltd

346,357

2,394,851

Guangzhou

Automobile

Group

Co

Ltd

-

H

1,459,425

42,100

Guangzhou

Baiyunshan

Pharmaceutical

Holdings

Co

Ltd

155,504

41,100

Guangzhou

Haige

Communications

Group,

Inc

Co

47,675

11,600

Guangzhou

Kingmed

Diagnostics

Group

Co

Ltd

119,805

36,672

Guangzhou

Shiyuan

Electronic

Technology

Co

Ltd

326,985

86,900

Guangzhou

Tinci

Materials

Technology

Co

Ltd

506,339

246,307

Guangzhou

Yuexiu

Financial

Holdings

Group

Co

Ltd

188,299

122,100

Guolian

Securities

Co

Ltd

156,561

280,600

Guosen

Securities

Co

Ltd

332,161

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

365,300

Guotai

Junan

Securities

Co

Ltd

$

663,389

339,630

Guoyuan

Securities

Co

Ltd

290,960

953,000

e,g

Haidilao

International

Holding

Ltd

1,415,044

1,862,400

Haier

Smart

Home

Co

Ltd

4,661,560

285,400

Haier

Smart

Home

Co

Ltd

814,560

491,000

Haitian

International

Holdings

Ltd

983,060

2,372,000

Haitong

Securities

Co

Ltd

1,159,501

394,700

Haitong

Securities

Co

Ltd

(Class

A)

457,111

57,036

Hangzhou

First

Applied

Material

Co

Ltd

504,568

27,700

Hangzhou

Lion

Electronics

Co

Ltd

163,003

32,700

Hangzhou

Oxygen

Plant

Group

Co

Ltd

188,430

99,600

Hangzhou

Robam

Appliances

Co

Ltd

279,903

46,500

Hangzhou

Silan

Microelectronics

Co

Ltd

200,635

16,000

Hangzhou

Tigermed

Consulting

Co

Ltd

-

A

182,841

90,100

g

Hangzhou

Tigermed

Consulting

Co

Ltd

-

H

611,910

990,000

g

Hansoh

Pharmaceutical

Group

Co

Ltd

1,530,427

181,300

Heilongjiang

Agriculture

Co

Ltd

343,043

114,500

Henan

Shenhuo

Coal

&

Power

Co

Ltd

220,242

188,000

Henan

Shuanghui

Investment

&

Development

Co

Ltd

587,210

518,500

Hengan

International

Group

Co

Ltd

2,010,354

273,320

Hengli

Petrochemical

Co

Ltd

575,936

3,214,904

\*,e

HengTen

Networks

Group

Ltd

504,280

127,300

Hengtong

Optic-electric

Co

Ltd

340,566

354,660

Hengyi

Petrochemical

Co

Ltd

326,190

768,900

Hesteel

Co

Ltd

228,485

20,000

Hithink

RoyalFlush

Information

Network

Co

Ltd

233,821

75,040

Hongfa

Technology

Co

Ltd

353,752

629,040

Hopson

Development

Holdings

Ltd

504,857

26,600

Hoshine

Silicon

Industry

Co

Ltd

348,363

469,051

\*,g

Hua

Hong

Semiconductor

Ltd

1,098,723

408,000

Huadian

Power

International

Corp

Ltd

(Class

A)

304,425

97,400

Huadong

Medicine

Co

Ltd

548,001

146,400

Huafon

Chemical

Co

Ltd

133,811

28,600

Huagong

Tech

Co

Ltd

65,936

124,500

Huaibei

Mining

Holdings

Co

Ltd

222,002

57,720

Hualan

Biological

Engineering,

Inc

140,442

469,900

Huaneng

Power

International,

Inc

-

A

431,865

3,297,110

e

Huaneng

Power

International,

Inc

-

H

1,179,783

1,236,200

g

Huatai

Securities

Co

Ltd

1,210,557

216,000

Huatai

Securities

Co

Ltd

(Class

A)

354,838

135,500

Huaxi

Securities

Co

Ltd

136,648

1,282,319

Huaxia

Bank

Co

Ltd

842,427

122,700

Huaxin

Cement

Co

Ltd

225,667

154,873

Huayu

Automotive

Systems

Co

Ltd

355,998

155,306

Huazhu

Group

Ltd

(ADR)

4,205,686

47,800

Hubei

Xingfa

Chemicals

Group

Co

Ltd

185,582

24,100

Huizhou

Desay

Sv

Automotive

Co

Ltd

342,284

93,600

Humanwell

Healthcare

Group

Co

Ltd

257,709

389,400

Hunan

Valin

Steel

Co

Ltd

213,575

66,696

Hundsun

Technologies,

Inc

381,957

64,629

\*,e

Hutchison

China

MediTech

Ltd

(ADR)

571,320

263,800

\*,e,g

Hygeia

Healthcare

Holdings

Co

Ltd

1,142,504

108,200

Iflytek

Co

Ltd

520,732

10,900

Imeik

Technology

Development

Co

Ltd

629,607

3,807,005

Industrial

&

Commercial

Bank

of

China

Ltd

-

A

2,167,050

46,447,777

Industrial

&

Commercial

Bank

of

China

Ltd

-

H

20,166,015

1,010,700

Industrial

Bank

Co

Ltd

2,084,853

376,480

Industrial

Securities

Co

Ltd

282,093

39,100

Ingenic

Semiconductor

Co

Ltd

364,015

1,909,400

Inner

Mongolia

BaoTou

Steel

Union

Co

Ltd

460,988

140,900

Inner

Mongolia

Dian

Tou

Energy

Corp

Ltd

238,702

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

49,980

Inner

Mongolia

ERDOS

Resources

Co

Ltd

$

95,533

343,300

Inner

Mongolia

Junzheng

Energy

&

Chemical

Industry

Group

Co

Ltd

183,019

373,800

Inner

Mongolia

Yili

Industrial

Group

Co

Ltd

1,295,209

859,600

Inner

Mongolia

Yitai

Coal

Co

1,216,336

186,500

Inner

Mongolia

Yuan

Xing

Energy

Co

Ltd

164,986

816,237

\*,g

Innovent

Biologics,

Inc

2,890,017

46,000

Inspur

Electronic

Information

Industry

Co

Ltd

145,196

75,180

Intco

Medical

Technology

Co

Ltd

219,425

346,367

\*,e

IQIYI,

Inc

(ADR)

699,661

97,160

JA

Solar

Technology

Co

Ltd

834,309

30,740

Jafron

Biomedical

Co

Ltd

133,584

23,660

Jason

Furniture

Hangzhou

Co

Ltd

98,132

901,149

\*,g

JD

Health

International,

Inc

4,943,777

1,741,445

JD.com,

Inc

31,712,603

183,800

Jiangsu

Eastern

Shenghong

Co

Ltd

309,981

1,108,000

Jiangsu

Express

781,519

42,356

Jiangsu

Hengli

Hydraulic

Co

Ltd

320,245

353,319

Jiangsu

Hengrui

Medicine

Co

Ltd

1,950,189

54,400

Jiangsu

King's

Luck

Brewery

JSC

Ltd

278,929

72,700

Jiangsu

Yanghe

Brewery

Joint-Stock

Co

Ltd

1,303,701

8,500

Jiangsu

Yangnong

Chemical

Co

Ltd

107,642

28,500

Jiangsu

Yoke

Technology

Co

Ltd

229,511

26,000

Jiangsu

Yuyue

Medical

Equipment

&

Supply

Co

Ltd

115,917

157,000

Jiangsu

Zhongtian

Technology

Co

Ltd

473,331

1,131,000

Jiangxi

Copper

Co

Ltd

1,235,913

100,300

Jiangxi

Copper

Co

Ltd

(Class

A)

211,971

68,300

\*

Jiangxi

Special

Electric

Motor

Co

Ltd

178,694

289,400

Jiangxi

Zhengbang

Technology

Co

Ltd

138,825

430,100

Jinke

Properties

Group

Co

Ltd

104,731

1,174,000

g

Jinxin

Fertility

Group

Ltd

578,719

13,800

JiuGui

Liquor

Co

Ltd

193,250

628,000

e,g

Jiumaojiu

International

Holdings

Ltd

987,001

266,200

Jizhong

Energy

Resources

Co

Ltd

221,433

49,000

Joincare

Pharmaceutical

Group

Industry

Co

Ltd

78,495

17,416

Joinn

Laboratories

China

Co

Ltd

136,644

68,726

Jointown

Pharmaceutical

Group

Co

Ltd

118,485

51,500

Jonjee

Hi-Tech

Industrial

And

Commercial

Holding

Co

Ltd

191,709

41,604

JOYY,

Inc

(ADR)

1,049,669

30,900

Juewei

Food

Co

Ltd

200,473

145,400

\*

Kanzhun

Ltd

(ADR)

1,589,222

549,994

\*

KE

Holdings,

Inc

(ADR)

5,598,939

73,400

Keda

Industrial

Group

Co

Ltd

156,902

535,381

Kingboard

Chemical

Holdings

Ltd

1,321,673

2,158,000

\*

Kingdee

International

Software

Group

Co

Ltd

3,536,122

104,200

Kingfa

Sci

&

Tech

Co

Ltd

138,485

824,600

Kingsoft

Corp

Ltd

2,497,006

1,437,501

\*,g

Kuaishou

Technology

5,936,673

98,000

\*

Kuang-Chi

Technologies

Co

Ltd

232,678

60,943

Kweichow

Moutai

Co

Ltd

11,296,025

5,913,856

Lenovo

Group

Ltd

4,726,399

202,900

Lens

Technology

Co

Ltd

277,654

50,700

Lepu

Medical

Technology

Beijing

Co

Ltd

175,780

440,959

\*

Li

Auto,

Inc

(ADR)

6,005,862

1,891,000

Li

Ning

Co

Ltd

9,781,989

216,700

\*

Lingyi

iTech

Guangdong

Co

140,550

22,100

Livzon

Pharmaceutical

Group,

Inc

106,933

139,300

Lomon

Billions

Group

Co

Ltd

294,029

1,504,000

g

Longfor

Properties

Co

Ltd

1,916,373

369,224

LONGi

Green

Energy

Technology

Co

Ltd

2,438,418

589,438

Lufax

Holding

Ltd

(ADR)

937,206

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

11,220

Luoyang

Xinqianglian

Slewing

Bearing

Co

Ltd

$

107,719

128,700

Luxi

Chemical

Group

Co

Ltd

200,790

332,053

Luxshare

Precision

Industry

Co

Ltd

1,291,947

68,900

Luzhou

Laojiao

Co

Ltd

1,477,964

312,200

Maanshan

Iron

&

Steel

Co

Ltd

(Class

A)

108,050

66,770

Mango

Excellent

Media

Co

Ltd

201,298

20,320

Maxscend

Microelectronics

Co

Ltd

257,177

216,928

\*

Meinian

Onehealth

Healthcare

Holdings

Co

Ltd

126,990

3,555,499

\*,g

Meituan

Dianping

(Class

B)

56,925,440

704,000

Metallurgical

Corp

of

China

Ltd

278,316

489,300

e

Microport

Scientific

Corp

1,033,740

75,700

Ming

Yang

Smart

Energy

Group

Ltd

259,103

639,623

e

Ming

Yuan

Cloud

Group

Holdings

Ltd

294,598

642,000

Minth

Group

Ltd

1,265,936

1,928,000

\*

MMG

Ltd

380,176

64,976

Montage

Technology

Co

Ltd

503,629

260,084

Muyuan

Foodstuff

Co

Ltd

1,675,503

100,594

Nanjing

King-Friend

Biochemical

Pharmaceutical

Co

Ltd

224,631

124,500

Nanjing

Securities

Co

Ltd

135,390

299,856

NARI

Technology

Co

Ltd

1,007,087

165,096

\*

National

Silicon

Industry

Group

Co

Ltd

459,949

23,800

NAURA

Technology

Group

Co

Ltd

864,103

124,400

NavInfo

Co

Ltd

202,381

1,678,701

NetEase,

Inc

18,625,602

104,200

New

China

Life

Insurance

Co

Ltd

-

A

334,995

738,500

New

China

Life

insurance

Co

Ltd

-

H

1,172,794

264,900

\*

New

Hope

Liuhe

Co

Ltd

469,579

1,285,650

\*

New

Oriental

Education

&

Technology

Group,

Inc

3,010,541

78,600

Ninestar

Corp

617,037

12,200

Ningbo

Deye

Technology

Co

Ltd

547,426

105,200

Ningbo

Joyson

Electronic

Corp

221,403

24,000

Ningbo

Orient

Wires

&

Cables

Co

Ltd

253,339

19,852

Ningbo

Ronbay

New

Energy

Technology

Co

Ltd

215,064

95,200

Ningbo

Shanshan

Co

Ltd

234,479

47,800

Ningbo

Tuopu

Group

Co

Ltd

424,737

256,800

Ningxia

Baofeng

Energy

Group

Co

Ltd

403,903

1,121,534

\*

NIO,

Inc

(ADR)

10,845,234

1,500,800

g

Nongfu

Spring

Co

Ltd

7,538,342

76,700

North

Industries

Group

Red

Arrow

Co

Ltd

216,523

266,500

Northeast

Securities

Co

Ltd

232,060

207,326

Offshore

Oil

Engineering

Co

Ltd

133,488

132,800

\*

OFILM

Group

Co

Ltd

85,301

16,240

Oppein

Home

Group,

Inc

181,398

295,680

Orient

Securities

Co

Ltd

315,401

27,600

Ovctek

China,

Inc

112,373

384,500

\*

Pangang

Group

Vanadium

Titanium

&

Resources

Co

Ltd

238,594

7,401,220

People's

Insurance

Co

Group

of

China

Ltd

2,045,399

401,000

People's

Insurance

Co

Group

of

China

Ltd

(Class

A)

266,788

96,150

Perfect

World

Co

Ltd

149,989

37,200

Pharmaron

Beijing

Co

Ltd

-

A

264,301

177,900

g

Pharmaron

Beijing

Co

Ltd

-

H

599,846

5,602,306

PICC

Property

&

Casualty

Co

Ltd

5,167,069

410,186

\*

Pinduoduo,

Inc

(ADR)

22,490,498

980,700

Ping

An

Bank

Co

Ltd

1,392,146

399,500

\*,e,g

Ping

An

Healthcare

and

Technology

Co

Ltd

738,921

5,184,526

Ping

An

Insurance

Group

Co

of

China

Ltd

20,755,682

531,900

Ping

An

Insurance

Group

Co

of

China

Ltd

(Class

A)

2,640,918

162,400

Pingdingshan

Tianan

Coal

Mining

Co

Ltd

245,939

623,100

Poly

Real

Estate

Group

Co

Ltd

1,183,940

505,075

e,g

Pop

Mart

International

Group

Ltd

654,807

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

1,823,878

Postal

Savings

Bank

of

China

Co

Ltd

-

A

$

970,412

6,562,000

e,g

Postal

Savings

Bank

of

China

Co

Ltd

-

H

3,043,195

715,600

Power

Construction

Corp

of

China

Ltd

691,495

7,280

Proya

Cosmetics

Co

Ltd

166,801

6,408

Pylon

Technologies

Co

Ltd

270,856

503,400

Qingdao

Rural

Commercial

Bank

Corp

191,146

264,300

\*

Qinghai

Salt

Lake

Industry

Co

Ltd

780,500

10,827

Raytron

Technology

Co

Ltd

70,693

31,300

Riyue

Heavy

Industry

Co

Ltd

94,964

458,325

\*,e

RLX

Technology,

Inc

(ADR)

572,906

465,500

Rongsheng

Petro

Chemical

Co

Ltd

683,942

356,400

SAIC

Motor

Corp

Ltd

672,787

74,800

Sailun

Group

Co

Ltd

89,100

13,000

Sangfor

Technologies,

Inc

224,379

902,000

Sany

Heavy

Equipment

International

739,683

383,400

Sany

Heavy

Industry

Co

Ltd

711,453

387,723

SDIC

Power

Holdings

Co

Ltd

536,360

368,160

Sealand

Securities

Co

Ltd

164,173

1,662,000

Seazen

Group

Ltd

266,972

111,100

Seazen

Holdings

Co

Ltd

201,108

221,100

SF

Holding

Co

Ltd

1,464,536

13,575

SG

Micro

Corp

279,010

495,671

Shaanxi

Coal

Industry

Co

Ltd

1,347,199

181,900

Shan

XI

Hua

Yang

Group

New

Energy

Co

Ltd

421,230

73,690

Shandong

Buchang

Pharmaceuticals

Co

Ltd

194,014

200,845

Shandong

Gold

Mining

Co

Ltd

-

A

477,614

878,500

e,g

Shandong

Gold

Mining

Co

Ltd

-

H

1,396,306

117,100

Shandong

Hualu

Hengsheng

Chemical

Co

Ltd

420,685

44,800

Shandong

Linglong

Tyre

Co

Ltd

100,749

673,600

Shandong

Nanshan

Aluminum

Co

Ltd

284,981

203,900

Shandong

Sun

Paper

Industry

JSC

Ltd

293,639

2,215,790

Shandong

Weigao

Group

Medical

Polymer

Co

Ltd

3,052,882

65,780

Shanghai

Bairun

Investment

Holding

Group

Co

Ltd

275,282

62,790

Shanghai

Baosight

Software

Co

Ltd

365,607

436,085

Shanghai

Baosight

Software

Co

Ltd

1,315,315

421,400

Shanghai

Construction

Group

Co

Ltd

148,478

457,900

Shanghai

Electric

Group

Co

Ltd

243,989

123,800

Shanghai

Fosun

Pharmaceutical

Group

Co

Ltd

-

A

558,281

444,485

Shanghai

Fosun

Pharmaceutical

Group

Co

Ltd

-

H

1,122,434

2,991

Shanghai

Friendess

Electronic

Technology

Corp

Ltd

84,466

72,400

\*

Shanghai

International

Airport

Co

Ltd

529,776

451,300

Shanghai

International

Port

Group

Co

Ltd

320,088

56,400

Shanghai

Jinjiang

International

Hotels

Development

Co

Ltd

422,325

47,210

\*

Shanghai

Junshi

Biosciences

Co

Ltd

461,190

174,232

Shanghai

Lingang

Holdings

Corp

Ltd

274,002

1,038,379

Shanghai

Lujiazui

Finance

&

Trade

Zone

Development

Co

Ltd

771,988

60,200

Shanghai

M&G

Stationery,

Inc

333,095

3,386

Shanghai

Medicilon,

Inc

102,840

137,200

Shanghai

Pharmaceuticals

Holding

Co

Ltd

-

A

331,008

656,841

Shanghai

Pharmaceuticals

Holding

Co

Ltd

-

H

890,190

1,406,500

Shanghai

Pudong

Development

Bank

Co

Ltd

1,281,969

68,540

Shanghai

Putailai

New

Energy

Technology

Co

Ltd

469,157

186,000

Shanghai

RAAS

Blood

Products

Co

Ltd

138,567

228,100

Shanghai

Yuyuan

Tourist

Mart

Group

Co

Ltd

196,223

48,800

Shanghai

Zhangjiang

High-Tech

Park

Development

Co

Ltd

75,283

204,600

Shanxi

Lu'an

Environmental

Energy

Development

Co

Ltd

471,439

237,700

Shanxi

Meijin

Energy

Co

Ltd

285,557

173,160

Shanxi

Securities

Co

Ltd

122,569

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

281,100

Shanxi

Taigang

Stainless

Steel

Co

Ltd

$

152,749

59,220

Shanxi

Xinghuacun

Fen

Wine

Factory

Co

Ltd

1,888,976

221,270

Shanxi

Xishan

Coal

&

Electricity

Power

Co

Ltd

344,946

175,800

Shenghe

Resources

Holding

Co

Ltd

322,834

161,300

Shengyi

Technology

Co

Ltd

307,037

11,760

Shennan

Circuits

Co

Ltd

121,109

1,055,300

Shenwan

Hongyuan

Group

Co

Ltd

562,994

30,780

Shenzhen

Capchem

Technology

Co

Ltd

152,614

8,300

Shenzhen

Dynanonic

Co

Ltd

293,880

216,600

Shenzhen

Energy

Group

Co

Ltd

169,459

134,127

Shenzhen

Inovance

Technology

Co

Ltd

1,228,853

1,081,738

Shenzhen

International

Holdings

Ltd

727,643

89,320

Shenzhen

Kangtai

Biological

Products

Co

Ltd

381,256

8,900

Shenzhen

Kedali

Industry

Co

Ltd

112,106

63,800

Shenzhen

Mindray

Bio-Medical

Electronics

Co

Ltd

2,852,019

25,400

Shenzhen

New

Industries

Biomedical

Engineering

Co

Ltd

201,608

392,100

Shenzhen

Overseas

Chinese

Town

Co

Ltd

226,445

50,500

Shenzhen

Salubris

Pharmaceuticals

Co

Ltd

214,345

15,400

Shenzhen

SC

New

Energy

Technology

Corp

287,371

50,045

Shenzhen

Senior

Technology

Material

Co

Ltd

127,115

26,400

Shenzhen

Sunlord

Electronics

Co

Ltd

77,553

25,428

Shenzhen

Transsion

Holdings

Co

Ltd

217,343

665,600

Shenzhou

International

Group

Holdings

Ltd

4,621,259

59,780

Shijiazhuang

Yiling

Pharmaceutical

Co

Ltd

249,119

1,109,000

\*,†,e

Shimao

Property

Holdings

Ltd

466,225

142,373

Sichuan

Chuantou

Energy

Co

Ltd

215,660

479,100

Sichuan

Hebang

Biotechnology

Co

Ltd

189,609

132,500

Sichuan

Kelun

Pharmaceutical

Co

Ltd

450,431

132,900

\*

Sichuan

New

Energy

Power

Co

Ltd

343,362

300,600

Sichuan

Road

&

Bridge

Co

Ltd

464,398

21,100

Sichuan

Swellfun

Co

Ltd

164,086

49,000

Sichuan

Yahua

Industrial

Group

Co

Ltd

179,905

31,900

Sieyuan

Electric

Co

Ltd

146,484

254,000

Silergy

Corp

2,929,049

82,200

Sinolink

Securities

Co

Ltd

89,069

70,800

Sinoma

Science

&

Technology

Co

Ltd

173,915

21,000

Sinomine

Resource

Group

Co

Ltd

258,466

514,583

Sinopec

Shanghai

Petrochemical

Co

Ltd

(Class

A)

216,279

1,100,800

Sinopharm

Group

Co

2,088,340

308,700

Sinotrans

Ltd

(Class

A)

150,355

562,245

Sinotruk

Hong

Kong

Ltd

501,238

18,560

Skshu

Paint

Co

Ltd

221,603

1,578,000

e,g

Smoore

International

Holdings

Ltd

1,679,774

105,560

Songcheng

Performance

Development

Co

Ltd

166,740

261,456

SooChow

Securities

Co

Ltd

235,025

131,200

Southwest

Securities

Co

Ltd

66,638

7,269

StarPower

Semiconductor

Ltd

371,259

2,902,031

\*,†,e

Sunac

China

Holdings

Ltd

3,697

65,800

Sungrow

Power

Supply

Co

Ltd

1,182,198

578,717

Sunny

Optical

Technology

Group

Co

Ltd

5,015,158

78,000

Sunwoda

Electronic

Co

Ltd

248,723

128,000

Suzhou

Dongshan

Precision

Manufacturing

Co

Ltd

443,203

7,840

Suzhou

Maxwell

Technologies

Co

Ltd

515,862

45,900

Suzhou

TA&A

Ultra

Clean

Technology

Co

Ltd

389,880

376,332

\*

TAL

Education

Group

(ADR)

1,772,524

200,900

Tangshan

Jidong

Cement

Co

Ltd

209,258

191,900

TBEA

Co

Ltd

537,772

757,900

TCL

Technology

Group

Corp

407,078

5,030,744

Tencent

Holdings

Ltd

132,191,718

587,700

\*

Tencent

Music

Entertainment

(ADR)

2,121,597

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

20,800

Thunder

Software

Technology

Co

Ltd

$

281,748

23,300

Tianjin

712

Communication

&

Broadcasting

Co

Ltd

125,667

149,000

Tianjin

Zhonghuan

Semiconductor

Co

Ltd

807,812

72,100

Tianma

Microelectronics

Co

Ltd

87,467

76,200

\*

Tianqi

Lithium

Corp

995,219

184,400

Tianshan

Aluminum

Group

Co

Ltd

157,951

86,500

Tianshui

Huatian

Technology

Co

Ltd

104,481

48,943

\*

Tibet

Summit

Resources

Co

Ltd

140,432

1,734,000

Tingyi

Cayman

Islands

Holding

Corp

2,710,411

87,700

Titan

Wind

Energy

Suzhou

Co

Ltd

141,373

91,364

Toly

Bread

Co

Ltd

141,221

1,006,000

\*

Tongcheng-Elong

Holdings

Ltd

1,570,294

36,000

TongFu

Microelectronics

Co

Ltd

92,919

122,000

Tongkun

Group

Co

Ltd

202,993

432,900

Tongling

Nonferrous

Metals

Group

Co

Ltd

149,868

231,892

Tongwei

Co

Ltd

1,386,561

19,100

\*

Topchoice

Medical

Corp

321,738

1,674,000

g

Topsports

International

Holdings

Ltd

844,093

297,700

Transfar

Zhilian

Co

Ltd

201,835

759,661

Travelsky

Technology

Ltd

1,104,648

94,675

Trina

Solar

Co

Ltd

864,030

440,845

\*

Trip.com

Group

Ltd

(ADR)

9,976,322

538,000

Tsingtao

Brewery

Co

Ltd

3,766,587

30,800

Tsingtao

Brewery

Co

Ltd

(Class

A)

345,814

34,299

Unigroup

Guoxin

Microelectronics

Co

Ltd

772,870

1,090,000

Uni-President

China

Holdings

Ltd

804,986

109,480

Unisplendour

Corp

Ltd

257,585

347,624

\*

Vipshop

Holdings

Ltd

(ADR)

2,422,939

67,400

Walvax

Biotechnology

Co

Ltd

356,025

147,100

Wanhua

Chemical

Group

Co

Ltd

1,623,460

4,088,587

Want

Want

China

Holdings

Ltd

2,685,730

51,272

\*

Weibo

Corp

(ADR)

580,399

1,661,800

Weichai

Power

Co

Ltd

1,591,741

277,000

Weichai

Power

Co

Ltd

(Class

A)

345,735

26,200

Weihai

Guangwei

Composites

Co

Ltd

278,734

322,360

\*

Wens

Foodstuffs

Group

Co

Ltd

792,299

470,300

Western

Securities

Co

Ltd

385,302

17,618

Western

Superconducting

Technologies

Co

Ltd

281,551

1,016,288

Wharf

Holdings

Ltd

2,910,136

47,790

Will

Semiconductor

Ltd

481,657

50,200

Wingtech

Technology

Co

Ltd

329,270

77,860

Winning

Health

Technology

Group

Co

Ltd

103,530

2,026,000

Winteam

Pharmaceutical

Group

Ltd

875,734

221,200

Wuchan

Zhongda

Group

Co

Ltd

126,540

96,745

Wuhan

Guide

Infrared

Co

Ltd

154,341

84,800

Wuhu

Shunrong

Sanqi

Interactive

Entertainment

Network

Technology

Co

Ltd

168,761

186,700

Wuliangye

Yibin

Co

Ltd

3,421,971

48,290

WUS

Printed

Circuit

Kunshan

Co

Ltd

71,984

112,404

WuXi

AppTec

Co

Ltd

-

A

1,177,967

282,877

g

WuXi

AppTec

Co

Ltd

-

H

2,270,436

2,877,801

\*,g

Wuxi

Biologics

Cayman,

Inc

12,949,075

16,240

Wuxi

Shangji

Automation

Co

Ltd

272,977

293,200

XCMG

Construction

Machinery

Co

Ltd

186,178

125,536

Xiamen

C

&

D,

Inc

206,525

9,000

Xiamen

Faratronic

Co

Ltd

217,882

23,800

Xiamen

Intretech,

Inc

56,274

47,100

Xiamen

Tungsten

Co

Ltd

129,625

12,328,436

\*,g

Xiaomi

Corp

13,845,727

158,100

Xinjiang

Goldwind

Science

&

Technology

Co

Ltd

-

A

226,760

787,800

Xinjiang

Goldwind

Science

&

Technology

Co

Ltd

-

H

682,635

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

133,200

Xinjiang

Zhongtai

Chemical

Co

Ltd

$

107,413

3,985,780

Xinyi

Solar

Holdings

Ltd

3,957,074

348,598

\*

XPeng,

Inc

(ADR)

2,307,719

1,024,234

XTEP

International

Holdings

938,786

1,008,000

g

Yadea

Group

Holdings

Ltd

1,539,095

20,400

Yangzhou

Yangjie

Electronic

Technology

Co

Ltd

143,528

142,700

Yantai

Jereh

Oilfield

Services

Group

Co

Ltd

588,485

1,268,464

Yanzhou

Coal

Mining

Co

Ltd

3,566,306

148,900

Yanzhou

Coal

Mining

Co

Ltd

(Class

A)

828,139

49,967

Yealink

Network

Technology

Corp

Ltd

472,904

49,908

Yifeng

Pharmacy

Chain

Co

Ltd

384,113

368,000

Yihai

International

Holding

Ltd

606,442

71,500

Yihai

Kerry

Arawana

Holdings

Co

Ltd

375,631

125,420

Yintai

Gold

Co

Ltd

246,975

18,100

YongXing

Special

Materials

Technology

Co

Ltd

289,162

224,999

Yonyou

Network

Technology

Co

Ltd

755,926

12,200

\*

Youngy

Co

Ltd

184,831

155,000

YTO

Express

Group

Co

Ltd

401,073

146,200

\*

Yuan

Longping

High-tech

Agriculture

Co

Ltd

290,584

1,137,227

Yuexiu

Property

Co

Ltd

970,458

346,122

Yum

China

Holdings,

Inc

14,312,145

191,710

Yunda

Holding

Co

Ltd

347,136

165,300

Yunnan

Aluminium

Co

Ltd

207,940

80,860

Yunnan

Baiyao

Group

Co

Ltd

604,881

10,500

Yunnan

Botanee

Bio-Technology

Group

Co

Ltd

205,891

48,700

Yunnan

Energy

New

Material

Co

Ltd

987,658

68,500

Yunnan

Tin

Co

Ltd

107,055

90,800

\*

Yunnan

Yuntianhua

Co

Ltd

250,945

70,685

\*

Zai

Lab

Ltd

(ADR)

1,574,862

76,600

Zangge

Mining

Co

Ltd

286,204

26,695

Zhangzhou

Pientzehuang

Pharmaceutical

Co

Ltd

834,424

907,141

Zhaojin

Mining

Industry

Co

Ltd

747,427

133,200

Zhefu

Holding

Group

Co

Ltd

71,561

384,700

\*

Zhejiang

Century

Huatong

Group

Co

Ltd

195,216

568,400

Zhejiang

China

Commodities

City

Group

Co

Ltd

326,597

119,716

Zhejiang

Chint

Electrics

Co

Ltd

417,665

122,400

Zhejiang

Dahua

Technology

Co

Ltd

194,295

30,420

Zhejiang

Dingli

Machinery

Co

Ltd

187,641

1,232,414

Zhejiang

Expressway

Co

Ltd

764,602

39,566

Zhejiang

HangKe

Technology,

Inc

Co

271,684

146,330

Zhejiang

Huahai

Pharmaceutical

Co

Ltd

401,089

68,828

Zhejiang

Huayou

Cobalt

Co

Ltd

514,727

53,700

Zhejiang

Jingsheng

Mechanical

&

Electrical

Co

Ltd

525,606

39,600

Zhejiang

Jiuzhou

Pharmaceutical

Co

Ltd

193,052

106,800

Zhejiang

Juhua

Co

Ltd

230,034

134,164

Zhejiang

NHU

Co

Ltd

329,290

14,493

Zhejiang

Orient

Gene

Biotech

Co

Ltd

163,694

133,791

Zhejiang

Satellite

Petrochemical

Co

Ltd

227,675

242,400

Zhejiang

Semir

Garment

Co

Ltd

149,051

12,900

Zhejiang

Supor

Co

Ltd

70,818

58,370

Zhejiang

Weiming

Environment

Protection

Co

Ltd

151,153

118,900

Zhejiang

Weixing

New

Building

Materials

Co

Ltd

283,871

13,200

Zhejiang

Wolwo

Bio-Pharmaceutical

Co

Ltd

85,054

68,500

Zhejiang

Yongtai

Technology

Co

Ltd

205,635

201,800

Zheshang

Securities

Co

Ltd

281,820

566,150

\*,e,g

ZhongAn

Online

P&C

Insurance

Co

Ltd

1,055,353

53,100

Zhongji

Innolight

Co

Ltd

213,235

509,500

Zhongsheng

Group

Holdings

Ltd

1,933,709

301,900

Zhongtai

Securities

Co

Ltd

263,832

27,531

Zhuzhou

CRRC

Times

Electric

Co

Ltd

237,634

434,700

Zhuzhou

CSR

Times

Electric

Co

Ltd

1,885,947

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

CHINA—continued

45,300

Zhuzhou

Hongda

Electronics

Corp

Ltd

$

275,384

140,900

Zhuzhou

Kibing

Group

Co

Ltd

151,803

126,700

Zibo

Qixiang

Tengda

Chemical

Co

Ltd

118,440

4,721,299

Zijin

Mining

Group

Co

Ltd

4,503,355

952,300

Zijin

Mining

Group

Co

Ltd

(Class

A)

1,036,003

328,700

Zoomlion

Heavy

Industry

Science

and

Technology

Co

Ltd

-

A

241,281

1,725,600

Zoomlion

Heavy

Industry

Science

and

Technology

Co

Ltd

-

H

556,112

177,500

ZTE

Corp

540,754

600,464

ZTE

Corp

(Class

H)

1,071,134

339,022

ZTO

Express

Cayman,

Inc

(ADR)

5,726,082

TOTAL

CHINA

1,196,500,885

COLOMBIA

-

.2

%

149,437

BanColombia

S.A.

1,074,161

352,627

BanColombia

S.A.

(Preference)

2,231,252

5,624,710

Ecopetrol

S.A.

2,790,289

347,473

Interconexion

Electrica

S.A.

1,355,769

TOTAL

COLOMBIA

7,451,471

CYPRUS

-

.0

%

66,882

\*

Galaxy

Mezz

Ltd

10,800

TOTAL

CYPRUS

10,800

CZECH

REPUBLIC

-

.2

%

127,976

CEZ

AS

4,185,262

71,749

Komercni

Banka

AS

2,054,911

247,245

g

Moneta

Money

Bank

AS

721,181

TOTAL

CZECH

REPUBLIC

6,961,354

EGYPT

-

.1

%

2,122,572

Commercial

International

Bank

2,845,236

518,867

Eastern

Tobacco

255,535

582,671

\*

Egyptian

Financial

Group-Hermes

Holding

322,969

TOTAL

EGYPT

3,423,740

GREECE

-

.3

%

1,805,812

\*

Alpha

Bank

AE

1,672,353

2,008,930

\*

Eurobank

Ergasias

S.A.

1,983,220

12,741

\*,†

FF

Group

194,309

Hellenic

Telecommunications

Organization

S.A.

3,051,534

86,097

JUMBO

S.A.

1,222,886

65,331

Mytilineos

Holdings

S.A.

1,095,484

432,944

\*

National

Bank

of

Greece

S.A.

1,568,675

148,718

OPAP

S.A.

1,822,263

187,089

\*

Public

Power

Corp

1,180,937

TOTAL

GREECE

13,597,478

HONG

KONG

-

.2

%

8,921,652

\*

Alibaba

Pictures

Group

Ltd

329,752

798,151

Kingboard

Laminates

Holdings

Ltd

637,625

1,349,000

Nine

Dragons

Paper

Holdings

Ltd

799,508

116,906

Orient

Overseas

International

Ltd

1,708,364

7,927,331

Sino

Biopharmaceutical

3,846,623

295,000

Vinda

International

Holdings

Ltd

553,243

TOTAL

HONG

KONG

7,875,115

HUNGARY

-

.2

%

428,319

MOL

Hungarian

Oil

&

Gas

plc

2,571,666

179,893

OTP

Bank

3,924,515

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

HUNGARY—continued

106,585

Richter

Gedeon

Rt

$

2,108,330

TOTAL

HUNGARY

8,604,511

INDIA

-

.9

%

231,591

Adani

Enterprises

Ltd

9,373,261

223,879

Adani

Gas

Ltd

9,743,385

255,180

\*

Adani

Green

Energy

Ltd

6,488,146

424,631

Adani

Ports

&

Special

Economic

Zone

Ltd

4,228,135

630,235

\*

Adani

Power

Ltd

2,555,170

223,944

\*

Adani

Transmissions

Ltd

9,068,705

481,133

Ambuja

Cements

Ltd

3,100,370

81,871

Apollo

Hospitals

Enterprise

Ltd

4,470,473

310,787

Asian

Paints

Ltd

11,698,970

56,818

Associated

Cement

Co

Ltd

1,642,780

132,093

g

AU

Small

Finance

Bank

Ltd

940,973

208,622

Aurobindo

Pharma

Ltd

1,356,303

130,587

\*,g

Avenue

Supermarts

Ltd

6,820,392

1,842,869

Axis

Bank

Ltd

20,209,781

219,148

Bajaj

Finance

Ltd

18,943,155

322,039

Bajaj

Finserv

Ltd

6,571,513

56,506

Bajaj

Holdings

and

Investment

Ltd

2,509,021

61,563

Balkrishna

Industries

Ltd

1,461,433

576,089

\*,g

Bandhan

Bank

Ltd

1,663,616

184,393

Berger

Paints

India

Ltd

1,307,502

3,098,689

Bharat

Electronics

Ltd

3,998,918

195,413

Bharat

Forge

Ltd

1,971,434

789,586

Bharat

Petroleum

Corp

Ltd

2,898,782

1,776,524

Bharti

Airtel

Ltd

17,866,128

318,471

Biocon

Ltd

1,039,028

83,528

Britannia

Industries

Ltd

3,803,295

313,281

Cholamandalam

Investment

and

Finance

Co

Ltd

2,687,186

382,924

Cipla

Ltd

5,402,653

1,408,776

Coal

India

Ltd

4,182,047

93,913

Colgate-Palmolive

India

Ltd

1,853,158

216,954

Container

Corp

Of

India

Ltd

2,093,859

468,468

Dabur

India

Ltd

3,140,907

100,932

Divi

S

Laboratories

Ltd

4,402,681

573,058

DLF

Ltd

2,671,009

88,214

Dr

Reddy's

Laboratories

Ltd

4,748,271

109,884

Eicher

Motors

Ltd

5,119,873

2,309,717

GAIL

India

Ltd

2,546,020

322,447

\*

Godrej

Consumer

Products

Ltd

3,232,484

97,718

\*

Godrej

Properties

Ltd

1,491,079

192,850

Grasim

Industries

Ltd

4,019,913

192,809

Havells

India

Ltd

2,836,867

893,935

HCL

Technologies

Ltd

11,253,411

725,803

g

HDFC

Life

Insurance

Co

Ltd

4,743,227

83,922

Hero

Honda

Motors

Ltd

2,716,409

1,120,156

Hindalco

Industries

Ltd

5,487,728

663,393

Hindustan

Lever

Ltd

20,468,074

507,518

Hindustan

Petroleum

Corp

Ltd

1,312,345

1,349,191

Housing

Development

Finance

Corp

40,339,138

4,135,616

ICICI

Bank

Ltd

45,472,544

182,738

g

ICICI

Lombard

General

Insurance

Co

Ltd

2,584,296

260,206

g

ICICI

Prudential

Life

Insurance

Co

Ltd

1,597,983

2,845,198

Indian

Oil

Corp

Ltd

2,346,554

214,529

Indian

Railway

Catering

&

Tourism

Corp

Ltd

1,924,686

259,941

Indraprastha

Gas

Ltd

1,346,962

544,052

Indus

Towers

Ltd

1,220,494

55,039

Info

Edge

India

Ltd

2,608,202

2,709,917

Infosys

Technologies

Ltd

50,507,592

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

INDIA—continued

71,179

\*,g

InterGlobe

Aviation

Ltd

$

1,536,013

2,426,289

ITC

Ltd

10,230,037

346,216

Jindal

Steel

&

Power

Ltd

1,923,845

574,306

JSW

Steel

Ltd

4,679,253

352,880

Jubilant

Foodworks

Ltd

2,603,167

454,985

Kotak

Mahindra

Bank

Ltd

10,476,070

42,498

g

Larsen

&

Toubro

Infotech

Ltd

2,434,633

553,878

Larsen

&

Toubro

Ltd

13,560,655

176,790

Lupin

Ltd

1,493,350

703,589

Mahindra

&

Mahindra

Ltd

11,483,297

402,469

Marico

Ltd

2,553,330

97,580

Maruti

Suzuki

India

Ltd

11,250,029

49,759

MindTree

Ltd

2,046,309

1,524,045

Motherson

Sumi

Systems

Ltd

1,188,077

65,320

Mphasis

Ltd

1,561,616

1,416

MRF

Ltd

1,553,261

78,423

Muthoot

Finance

Ltd

989,563

26,423

Nestle

India

Ltd

6,506,660

3,359,830

NTPC

Ltd

7,033,216

4,719

Page

Industries

Ltd

2,838,903

631,464

Petronet

LNG

Ltd

1,568,679

58,104

PI

Industries

Ltd

2,276,113

115,334

Pidilite

Industries

Ltd

3,606,692

362,120

\*

Piramal

Pharma

Ltd

721,375

2,618,495

Power

Grid

Corp

of

India

Ltd

7,224,624

2,448,333

Reliance

Industries

Ltd

75,547,621

171,615

SBI

Cards

&

Payment

Services

Ltd

1,714,877

343,863

g

SBI

Life

Insurance

Co

Ltd

5,269,454

770,992

Sesa

Sterlite

Ltd

2,612,555

8,585

Shree

Cement

Ltd

2,360,735

144,651

Shriram

Transport

Finance

Co

Ltd

2,151,201

54,647

Siemens

India

Ltd

1,933,384

114,752

SRF

Ltd

3,551,510

1,490,900

State

Bank

of

India

10,353,606

780,655

Sun

Pharmaceutical

Industries

Ltd

9,591,716

749,385

Tata

Consultancy

Services

Ltd

28,920,318

28,465

Tata

Elxsi

Ltd

2,406,035

1,388,552

\*

Tata

Motors

Ltd

6,952,260

1,289,380

Tata

Power

Co

Ltd

3,524,961

5,963,311

\*

Tata

Steel

Ltd

7,314,077

420,353

Tata

Tea

Ltd

3,914,416

494,192

Tech

Mahindra

Ltd

6,355,747

285,317

Titan

Industries

Ltd

9,520,473

77,256

Torrent

Pharmaceuticals

Ltd

1,541,496

130,018

Trent

Ltd

2,401,486

81,665

Ultra

Tech

Cement

Ltd

6,634,323

225,548

\*

United

Spirits

Ltd

2,443,507

383,500

UPL

Ltd

3,385,583

1,138,277

Wipro

Ltd

5,326,511

8,230,792

\*

Yes

Bank

Ltd

1,547,553

1,962,782

\*

Zomato

Ltd

1,497,058

TOTAL

INDIA

724,199,551

INDONESIA

-

.3

%

12,388,954

Adaro

Energy

Tbk

3,160,652

5,787,715

\*

ADARO

MINERALS

INDONESIA

TBK

PT

641,890

16,193,854

Astra

International

Tbk

PT

6,920,129

45,558,858

Bank

Central

Asia

Tbk

PT

25,753,391

3,490,600

\*

Bank

Jago

Tbk

PT

1,142,818

54,393,450

Bank

Rakyat

Indonesia

16,227,366

1,857,104

Indofood

CBP

Sukses

Makmur

Tbk

1,159,162

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

INDONESIA—continued

19,336,100

Kalbe

Farma

Tbk

PT

$

2,542,818

9,310,328

\*

Merdeka

Copper

Gold

Tbk

PT

2,254,369

6,042,700

PT

Aneka

Tambang

Tbk

715,263

15,206,739

PT

Bank

Mandiri

Persero

Tbk

10,272,959

6,104,859

PT

Bank

Negara

Indonesia

3,680,821

20,418,500

PT

Barito

Pacific

Tbk

1,080,273

5,740,000

PT

Charoen

Pokphand

Indonesia

Tbk

2,050,644

481,400

PT

Gudang

Garam

Tbk

743,820

2,226,605

PT

Indah

Kiat

Pulp

and

Paper

Corp

Tbk

1,370,159

3,164,570

PT

Indofood

Sukses

Makmur

Tbk

1,309,386

2,211,100

PT

Semen

Gresik

Persero

Tbk

1,127,904

14,523,400

PT

Sumber

Alfaria

Trijaya

Tbk

2,624,387

6,683,945

PT

Unilever

Indonesia

Tbk

1,988,503

1,398,273

PT

United

Tractors

Tbk

2,892,378

1,715,786

\*

PT

Vale

Indonesia

Tbk

716,666

16,603,000

Sarana

Menara

Nusantara

Tbk

PT

1,229,027

41,527,583

Telkom

Indonesia

Persero

Tbk

PT

11,663,055

3,392,248

Tower

Bersama

Infrastructure

535,686

TOTAL

INDONESIA

103,803,526

KOREA,

REPUBLIC

OF

-

.7

%

24,831

\*

Alteogen,

Inc

637,558

24,632

Amorepacific

Corp

1,599,263

7,226

BGF

retail

Co

Ltd

944,959

67,961

Celltrion

Healthcare

Co

Ltd

3,306,545

15,017

\*

Celltrion

Pharm

Inc

712,376

81,766

Celltrion,

Inc

10,990,882

49,919

Cheil

Communications,

Inc

855,376

6,266

CJ

CheilJedang

Corp

1,819,281

12,491

CJ

Corp

628,661

8,189

CJ

O

Shopping

Co

Ltd

421,066

42,213

Coway

Co

Ltd

1,636,846

34,563

Dongbu

Insurance

Co

Ltd

1,364,061

41,014

Doosan

Bobcat,

Inc

962,556

333,330

\*

Doosan

Heavy

Industries

and

Construction

Co

Ltd

3,092,761

37,803

Ecopro

BM

Co

Ltd

3,044,801

16,802

E-Mart

Co

Ltd

996,067

13,415

F&F

Co

Ltd

1,366,827

3,921

Green

Cross

Corp

350,220

58,708

GS

Engineering

&

Construction

Corp

892,054

40,038

GS

Holdings

Corp

1,291,447

233,448

Hana

Financial

Group,

Inc

6,749,302

57,116

Hankook

Tire

Co

Ltd

1,462,984

5,657

Hanmi

Pharm

Co

Ltd

1,003,638

140,900

Hanon

Systems

769,920

89,272

\*

Hanwha

Chemical

Corp

2,950,319

75,598

\*

HLB,

Inc

2,143,251

17,704

Honam

Petrochemical

Corp

1,834,460

28,447

Hotel

Shilla

Co

Ltd

1,295,398

14,289

\*

HYBE

Co

Ltd

1,209,528

443,405

Hynix

Semiconductor,

Inc

25,669,385

63,742

Hyundai

Engineering

&

Construction

Co

Ltd

1,558,323

14,460

Hyundai

Glovis

Co

Ltd

1,762,489

32,416

\*

Hyundai

Heavy

Industries

1,651,316

15,875

\*

Hyundai

Heavy

Industries

Co

Ltd

1,212,704

210,289

Hyundai

Merchant

Marine

Co

Ltd

2,813,022

48,035

Hyundai

Mobis

7,367,576

110,953

Hyundai

Motor

Co

12,786,053

28,720

Hyundai

Motor

Co

Ltd

(2nd

Preference)

1,606,740

18,335

Hyundai

Motor

Co

Ltd

(Preference)

1,007,857

39,907

Hyundai

Robotics

Co

Ltd

1,703,600

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

KOREA,

REPUBLIC

OF—continued

74,339

Hyundai

Steel

Co

$

1,462,829

15,233

Iljin

Materials

Co

Ltd

646,372

185,427

Industrial

Bank

of

Korea

1,358,922

246,105

Kakao

Corp

8,730,517

25,317

\*

Kakao

Games

Corp

700,280

89,618

\*,e

KakaoBank

Corp

1,072,750

71,780

\*

Kangwon

Land,

Inc

1,157,335

314,667

KB

Financial

Group,

Inc

10,588,251

212,230

Kia

Motors

Corp

9,862,495

70,861

Korea

Aerospace

Industries

Ltd

2,353,333

211,102

Korea

Electric

Power

Corp

2,475,486

6,563

\*

Korea

Express

Co

Ltd

404,180

33,579

Korea

Investment

Holdings

Co

Ltd

1,165,654

15,493

Korea

Kumho

Petrochemical

1,420,312

6,987

Korea

Zinc

Co

Ltd

3,133,337

129,302

\*

Korean

Air

Lines

Co

Ltd

2,093,921

19,725

\*,e,g

Krafton,

Inc

2,450,146

93,833

KT&G

Corp

6,301,967

18,004

L&F

Co

Ltd

2,837,237

40,061

LG

Chem

Ltd

17,580,311

6,131

LG

Chem

Ltd

(Preference)

1,242,642

75,125

LG

Corp

4,170,414

208,552

LG

Display

Co

Ltd

1,861,179

85,563

LG

Electronics,

Inc

4,887,378

18,838

\*,e

LG

Energy

Solution

6,970,422

8,105

LG

Household

&

Health

Care

Ltd

2,895,760

2,452

LG

Household

&

Health

Care

Ltd

(Preference)

482,307

11,674

LG

Innotek

Co

Ltd

2,421,938

171,327

LG

Telecom

Ltd

1,375,804

9,410

Lotte

Shopping

Co

Ltd

576,139

22,665

Meritz

finance

Holdings

Co

Ltd

344,483

28,085

Meritz

Fire

&

Marine

Insurance

Co

Ltd

618,942

197,252

Meritz

Securities

Co

Ltd

511,489

245,855

Mirae

Asset

Daewoo

Co

Ltd

1,094,430

103,296

Naver

Corp

12,252,789

13,251

NCsoft

3,619,899

18,070

g

Netmarble

Corp

564,703

17,158

Orion

Corp/Republic

of

Korea

1,220,997

22,122

Pacific

Corp

383,023

209,212

Pan

Ocean

Co

Ltd

630,003

21,839

\*

Pearl

Abyss

Corp

635,856

63,588

POSCO

11,082,799

21,808

POSCO

Refractories

&

Environment

Co

Ltd

3,045,026

14,878

S1

Corp

(Korea)

651,154

14,513

\*,g

Samsung

Biologics

Co

Ltd

8,918,779

66,772

Samsung

C&T

Corp

5,542,848

44,129

Samsung

Electro-Mechanics

Co

Ltd

3,737,351

3,859,744

Samsung

Electronics

Co

Ltd

160,641,865

675,939

Samsung

Electronics

Co

Ltd

(Preference)

25,261,117

123,582

\*

Samsung

Engineering

Co

Ltd

2,064,474

25,031

Samsung

Fire

&

Marine

Insurance

Co

Ltd

3,510,582

485,384

\*

Samsung

Heavy

Industries

Co

Ltd

1,752,291

60,211

Samsung

Life

Insurance

Co

Ltd

2,845,436

44,144

Samsung

SDI

Co

Ltd

22,774,552

25,732

Samsung

SDS

Co

Ltd

2,254,355

46,483

Samsung

Securities

Co

Ltd

1,034,191

27,506

SD

Biosensor,

Inc

569,057

29,205

Seegene,

Inc

587,127

371,697

Shinhan

Financial

Group

Co

Ltd

9,447,255

20,749

\*

SK

Biopharmaceuticals

Co

Ltd

844,750

19,659

\*

SK

Bioscience

Co

Ltd

1,039,896

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

KOREA,

REPUBLIC

OF—continued

8,312

SK

Chemicals

Co

Ltd

$

514,952

34,279

SK

Holdings

Co

Ltd

5,136,663

20,345

\*,g

SK

IE

Technology

Co

Ltd

740,419

45,982

\*

SK

Innovation

Co

Ltd

5,567,879

79,639

\*

SK

Square

Co

Ltd

2,059,146

15,683

SKC

Co

Ltd

1,135,934

39,637

S-Oil

Corp

2,403,372

420,850

Woori

Financial

Group,

Inc

3,472,853

107,349

Woori

Investment

&

Securities

Co

Ltd

674,975

50,790

Yuhan

Corp

2,129,566

TOTAL

KOREA,

REPUBLIC

OF

533,468,368

KUWAIT

-

.0

%

1,183,710

Agility

Public

Warehousing

Co

KSC

2,997,275

999,758

Boubyan

Bank

KSCP

2,658,556

1,427,329

Gulf

Bank

KSCP

1,579,722

5,814,307

Kuwait

Finance

House

15,206,256

482,290

Mabanee

Co

KPSC

1,356,878

1,754,989

Mobile

Telecommunications

Co

KSC

3,392,167

5,642,005

National

Bank

of

Kuwait

SAKP

19,634,833

TOTAL

KUWAIT

46,825,687

LUXEMBOURG

-

.0

%

96,548

Reinet

Investments

S.C.A

1,551,286

TOTAL

LUXEMBOURG

1,551,286

MALAYSIA

-

.6

%

1,269,533

AMMB

Holdings

BHD

1,098,513

2,016,274

Axiata

Group

Bhd

1,213,412

5,432,352

Bumiputra-Commerce

Holdings

BHD

6,345,656

4,065,777

Dialog

Group

BHD

1,771,852

2,588,025

Digi.Com

BHD

2,075,891

1,891,775

Genting

BHD

1,777,742

2,236,600

Genting

Malaysia

BHD

1,297,488

476,200

HAP

Seng

Consolidated

BHD

648,296

1,167,300

Hartalega

Holdings

BHD

532,913

550,087

Hong

Leong

Bank

BHD

2,465,783

103,006

Hong

Leong

Credit

BHD

416,156

1,762,528

IHH

Healthcare

BHD

2,218,597

2,115,100

Inari

Amertron

BHD

1,116,343

1,778,800

IOI

Corp

BHD

1,535,094

307,411

Kuala

Lumpur

Kepong

BHD

1,407,441

3,789,049

Malayan

Banking

BHD

6,883,013

484,707

\*

Malaysia

Airports

Holdings

BHD

612,847

1,771,400

Maxis

BHD

1,441,912

1,359,900

MISC

BHD

2,081,013

1,879,975

g

MR

DIY

Group

M

Bhd

803,733

73,300

Nestle

Malaysia

BHD

2,061,950

1,867,400

Petronas

Chemicals

Group

BHD

3,442,786

279,400

Petronas

Dagangan

BHD

1,281,174

863,200

Petronas

Gas

BHD

3,121,980

479,059

PPB

Group

BHD

1,691,614

2,982,824

Press

Metal

BHD

2,745,806

11,466,315

Public

Bank

BHD

10,843,683

836,050

QL

Resources

BHD

905,367

1,222,425

RHB

Capital

BHD

1,480,346

2,026,165

Sime

Darby

BHD

964,764

1,566,765

Sime

Darby

Plantation

BHD

1,458,687

884,351

Telekom

Malaysia

BHD

1,040,096

2,081,458

Tenaga

Nasional

BHD

3,706,704

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

MALAYSIA—continued

3,370,600

Top

Glove

Corp

BHD

$

567,325

TOTAL

MALAYSIA

73,055,977

MEXICO

-

.6

%

2,197,400

Alfa

S.A.

de

C.V.

(Class

A)

1,458,427

22,448,741

America

Movil

S.A.B.

de

C.V.

21,244,329

12,834,597

\*

Cemex

S.A.

de

C.V.

4,987,957

414,110

Coca-Cola

Femsa

SAB

de

C.V.

2,608,644

412,357

Embotelladoras

Arca

SAB

de

C.V.

3,377,652

2,388,000

Fibra

Uno

Administracion

S.A.

de

C.V.

2,786,583

1,543,877

Fomento

Economico

Mexicano

S.A.

de

C.V.

11,082,906

161,510

Gruma

SAB

de

C.V.

1,873,510

273,930

Grupo

Aeroportuario

del

Pacifico

S.A.

de

C.V.

(B

Shares)

4,243,129

146,426

Grupo

Aeroportuario

del

Sureste

S.A.

de

C.V.

(Class

B)

3,426,929

1,043,089

Grupo

Bimbo

S.A.

de

C.V.

(Series

A)

4,038,528

547,198

Grupo

Carso

S.A.

de

C.V.

(Series

A1)

2,205,031

2,102,728

Grupo

Financiero

Banorte

S.A.

de

C.V.

17,092,028

1,527,744

\*,e

Grupo

Financiero

Inbursa

S.A.

2,819,845

2,475,932

Grupo

Mexico

S.A.

de

C.V.

(Series

B)

8,976,238

1,915,790

e

Grupo

Televisa

S.A.

2,032,499

125,304

e

Industrias

Penoles

S.A.

de

C.V.

1,421,457

1,100,395

Kimberly-Clark

de

Mexico

S.A.

de

C.V.

(Class

A)

1,736,150

773,500

Operadora

de

Sites

Mexicanos

S.A.

de

C.V.

841,703

791,023

Orbia

Advance

Corp

SAB

de

C.V.

1,335,473

178,240

Promotora

y

Operadora

de

Infraestructura

SAB

de

C.V.

1,340,781

1,096,562

\*,e

Sitios

Latinoamerica

SAB

de

C.V.

319,897

4,340,925

Wal-Mart

de

Mexico

SAB

de

C.V.

16,767,324

TOTAL

MEXICO

118,017,020

PERU

-

.3

%

176,422

Cia

de

Minas

Buenaventura

S.A.

(ADR)

(Series

B)

1,224,368

55,914

Credicorp

Ltd

8,183,573

75,944

Southern

Copper

Corp

3,567,090

TOTAL

PERU

12,975,031

PHILIPPINES

-

.8

%

1,279,604

Aboitiz

Equity

Ventures,

Inc

1,257,626

11,243,589

AC

Energy

Corp

1,222,564

185,863

Ayala

Corp

2,156,903

5,809,293

Ayala

Land,

Inc

2,578,102

1,358,409

Bank

of

the

Philippine

Islands

2,259,120

1,588,106

BDO

Unibank,

Inc

3,510,326

1,608,761

\*

Converge

ICT

Solutions,

Inc

344,561

25,776

Globe

Telecom,

Inc

1,039,171

72,726

GT

Capital

Holdings,

Inc

519,992

921,773

International

Container

Term

Services,

Inc

2,763,169

2,139,256

JG

Summit

Holdings

(Series

B)

1,601,391

347,580

Jollibee

Foods

Corp

1,394,255

263,411

Manila

Electric

Co

1,373,397

7,909,000

Metro

Pacific

Investments

Corp

499,516

1,383,890

Metropolitan

Bank

&

Trust

1,242,431

4,689,600

g

Monde

Nissin

Corp

950,679

73,890

PLDT,

Inc

2,083,693

183,565

SM

Investments

Corp

2,616,235

10,192,668

SM

Prime

Holdings

5,566,451

700,547

Universal

Robina

1,482,070

TOTAL

PHILIPPINES

36,461,652

POLAND

-

.6

%

272,368

\*,g

Allegro.eu

S.A.

1,321,026

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

POLAND—continued

153,851

Bank

Pekao

S.A.

$

2,521,535

25,118

Bank

Zachodni

WBK

S.A.

1,333,713

12,099

BRE

Bank

S.A.

677,287

47,577

CD

Projekt

Red

S.A.

1,264,156

172,719

Cyfrowy

Polsat

S.A.

646,675

38,325

\*,g

Dino

Polska

S.A.

2,501,561

110,864

KGHM

Polska

Miedz

S.A.

2,216,449

835

LPP

S.A.

1,446,845

708,281

\*

PGE

Polska

Grupa

Energetyczna

S.A.

807,262

369,349

Polski

Koncern

Naftowy

Orlen

S.A.

4,241,429

2,170,186

Polskie

Gornictwo

Naftowe

i

Gazownictwo

S.A.

2,303,131

639,271

Powszechna

Kasa

Oszczednosci

Bank

Polski

S.A.

3,483,626

479,285

Powszechny

Zaklad

Ubezpieczen

S.A.

2,685,104

524,177

Telekomunikacja

Polska

S.A.

660,892

TOTAL

POLAND

28,110,691

QATAR

-

.3

%

2,038,373

Barwa

Real

Estate

Co

1,902,038

2,453,233

Commercial

Bank

of

Qatar

QSC

4,240,483

1,185,950

Industries

Qatar

QSC

5,133,995

4,655,700

Masraf

Al

Rayan

4,905,414

3,278,477

Mesaieed

Petrochemical

Holding

Co

2,044,755

621,129

Ooredoo

QSC

1,665,242

390,823

Qatar

Electricity

&

Water

Co

1,984,978

481,702

Qatar

Fuel

QSC

2,523,669

2,093,588

Qatar

Gas

Transport

Co

Ltd

2,357,073

558,625

Qatar

International

Islamic

Bank

QSC

1,774,352

1,292,625

Qatar

Islamic

Bank

SAQ

8,649,500

3,720,071

Qatar

National

Bank

20,369,795

TOTAL

QATAR

57,551,294

ROMANIA

-

.0

%

441,536

NEPI

Rockcastle

NV

2,219,234

TOTAL

ROMANIA

2,219,234

RUSSIA

-

.0

%

35,937

\*,†,e

Ozon

Holdings

plc

(ADR)

911,463

\*,†

VTB

Bank

PJSC

(GDR)

Equiduct

9,115

281,650

\*,†

VTB

Bank

PJSC

(GDR)

Tradegate

2,817

TOTAL

RUSSIA

12,291

SAUDI

ARABIA

-

.0

%

62,778

ACWA

Power

Co

2,906,023

126,391

Advanced

Petrochemical

Co

1,487,576

1,573,162

\*

Al

Rajhi

Bank

35,672,814

770,967

Alinma

Bank

7,691,140

196,458

Almarai

Co

JSC

2,941,985

447,861

Arab

National

Bank

3,845,688

385,575

\*

Bank

AlBilad

5,206,953

327,345

Bank

Al-Jazira

2,036,646

469,420

Banque

Saudi

Fransi

5,395,973

47,919

Bupa

Arabia

for

Cooperative

Insurance

Co

2,461,136

423,798

\*

Dar

Al

Arkan

Real

Estate

Development

Co

1,516,265

67,761

Dr

Sulaiman

Al

Habib

Medical

Services

Group

Co

4,087,533

18,069

Elm

Co

1,588,031

302,485

\*

Emaar

Economic

City

772,360

287,194

Etihad

Etisalat

Co

2,795,999

49,097

Jarir

Marketing

Co

2,141,543

356,871

\*

Mobile

Telecommunications

Co

Saudi

Arabia

1,232,594

36,613

Mouwasat

Medical

Services

Co

2,131,357

1,765,714

National

Commercial

Bank

27,907,520

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

SAUDI

ARABIA—continued

244,409

\*

National

Industrialization

Co

$

868,932

393,404

\*

Rabigh

Refining

&

Petrochemical

Co

1,426,201

1,053,990

Riyad

Bank

10,073,401

172,070

SABIC

Agri-Nutrients

Co

7,270,282

303,365

Sahara

International

Petrochemical

Co

3,265,988

692,602

\*

Saudi

Arabian

Mining

Co

15,416,090

1,998,994

g

Saudi

Arabian

Oil

Co

18,551,700

744,248

Saudi

Basic

Industries

Corp

17,475,327

726,304

Saudi

British

Bank

8,413,201

669,121

Saudi

Electricity

Co

4,804,611

318,734

Saudi

Industrial

Investment

Group

1,904,216

383,763

Saudi

Investment

Bank

1,851,266

583,972

\*

Saudi

Kayan

Petrochemical

Co

2,045,652

27,526

\*

Saudi

Research

&

Marketing

Group

1,474,496

28,097

Saudi

Tadawul

Group

Holding

Co

1,621,854

1,194,009

Saudi

Telecom

Co

12,828,188

203,074

Savola

Group

1,582,138

241,490

Yanbu

National

Petrochemical

Co

2,871,294

TOTAL

SAUDI

ARABIA

227,563,973

SINGAPORE

-

.0

%

167,200

g

BOC

Aviation

Ltd

1,118,890

TOTAL

SINGAPORE

1,118,890

SOUTH

AFRICA

-

.4

%

671,409

Absa

Group

Ltd

7,290,980

70,170

African

Rainbow

Minerals

Ltd

988,100

44,987

Anglo

American

Platinum

Ltd

3,582,137

290,971

Aspen

Pharmacare

Holdings

Ltd

2,393,506

266,155

Bid

Corp

Ltd

4,282,533

218,218

Bidvest

Group

Ltd

2,524,230

74,947

Capitec

Bank

Holdings

Ltd

7,760,524

220,913

Clicks

Group

Ltd

3,743,269

380,307

\*

Discovery

Holdings

Ltd

2,487,522

225,194

Exxaro

Resources

Ltd

2,509,385

4,083,166

FirstRand

Ltd

14,274,669

288,465

Foschini

Ltd

1,803,544

699,591

Gold

Fields

Ltd

5,604,284

2,637,549

Growthpoint

Properties

Ltd

1,859,476

452,543

Harmony

Gold

Mining

Co

Ltd

1,253,337

690,563

Impala

Platinum

Holdings

Ltd

7,070,441

50,644

Kumba

Iron

Ore

Ltd

952,741

189,948

Mr

Price

Group

Ltd

1,828,205

1,379,387

MTN

Group

Ltd

9,748,752

272,452

MultiChoice

Group

Ltd

1,780,329

174,916

Naspers

Ltd

(N

Shares)

18,030,656

384,670

Nedbank

Group

Ltd

4,556,042

244,302

\*

Northam

Platinum

Holdings

Ltd

2,292,632

3,582,645

e

Old

Mutual

Ltd

2,033,624

1,188,816

g

Pepkor

Holdings

Ltd

1,467,191

464,409

Remgro

Ltd

3,456,379

1,429,384

Sanlam

Ltd

4,166,571

464,996

Sasol

Ltd

7,816,603

406,900

e

Shoprite

Holdings

Ltd

5,179,248

2,207,378

Sibanye

Stillwater

Ltd

5,170,174

143,238

Spar

Group

Ltd

1,214,526

1,115,836

Standard

Bank

Group

Ltd

10,416,593

517,646

Vodacom

Group

Pty

Ltd

3,525,950

790,529

Woolworths

Holdings

Ltd

2,710,874

TOTAL

SOUTH

AFRICA

155,775,027

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

TAIWAN

-

.1

%

428,000

Accton

Technology

Corp

$

3,218,497

2,155,380

Acer,

Inc

1,474,798

392,407

Advantech

Co

Ltd

3,555,064

2,678,011

ASE

Technology

Holding

Co

Ltd

6,612,408

1,804,512

Asia

Cement

Corp

2,086,529

19,000

ASMedia

Technology,

Inc

341,097

554,500

Asustek

Computer,

Inc

4,054,096

5,152,800

AU

Optronics

Corp

2,689,173

527,389

Catcher

Technology

Co

Ltd

2,770,407

6,472,604

Cathay

Financial

Holding

Co

Ltd

7,574,935

1,092,374

Chailease

Holding

Co

Ltd

5,038,778

3,610,619

Chang

Hwa

Commercial

Bank

1,858,061

1,525,922

Cheng

Shin

Rubber

Industry

Co

Ltd

1,526,666

2,279,035

China

Airlines

1,193,027

12,624,522

China

Development

Financial

Holding

Corp

4,593,756

9,487,151

China

Steel

Corp

7,897,298

14,328,611

Chinatrust

Financial

Holding

Co

9,051,911

3,196,763

Chunghwa

Telecom

Co

Ltd

11,022,168

3,373,000

Compal

Electronics,

Inc

2,206,172

1,551,768

Delta

Electronics,

Inc

12,347,126

10,921,613

E.Sun

Financial

Holding

Co

Ltd

7,848,969

143,316

Eclat

Textile

Co

Ltd

1,880,694

49,000

eMemory

Technology,

Inc

1,624,814

2,035,803

Eva

Airways

Corp

1,470,099

828,192

Evergreen

Marine

Corp

Taiwan

Ltd

3,523,378

2,504,071

Far

Eastern

Textile

Co

Ltd

2,495,826

1,463,589

Far

EasTone

Telecommunications

Co

Ltd

3,209,066

332,513

Feng

TAY

Enterprise

Co

Ltd

1,651,352

8,518,674

First

Financial

Holding

Co

Ltd

6,534,699

2,922,173

Formosa

Chemicals

&

Fibre

Corp

6,298,674

923,064

Formosa

Petrochemical

Corp

2,374,959

3,479,813

Formosa

Plastics

Corp

8,965,428

5,939,401

Fubon

Financial

Holding

Co

Ltd

9,381,483

8,162,788

Fuhwa

Financial

Holdings

Co

Ltd

4,984,258

223,000

Giant

Manufacturing

Co

Ltd

1,419,118

181,509

Globalwafers

Co

Ltd

2,011,834

10,058,002

Hon

Hai

Precision

Industry

Co,

Ltd

31,944,984

241,608

Hotai

Motor

Co

Ltd

4,371,275

6,634,026

Hua

Nan

Financial

Holdings

Co

Ltd

4,327,840

7,260,350

InnoLux

Display

Corp

2,662,600

1,891,340

Inventec

Co

Ltd

1,430,328

80,125

Largan

Precision

Co

Ltd

4,584,107

1,492,778

Lite-On

Technology

Corp

2,956,043

1,219,464

MediaTek,

Inc

22,228,626

8,834,828

Mega

Financial

Holding

Co

Ltd

8,185,006

527,000

Micro-Star

International

Co

Ltd

1,785,056

51,000

momo.com,

Inc

760,902

3,975,271

Nan

Ya

Plastics

Corp

8,422,963

200,000

Nan

Ya

Printed

Circuit

Board

Corp

1,304,843

1,092,000

Nanya

Technology

Corp

1,840,927

147,000

Nien

Made

Enterprise

Co

Ltd

1,133,435

466,474

Novatek

Microelectronics

Corp

Ltd

3,475,578

1,611,000

Pegatron

Technology

Corp

2,945,034

1,825,512

Pou

Chen

Corp

1,541,114

2,380,387

Powerchip

Semiconductor

Manufacturing

Corp

2,266,007

499,000

President

Chain

Store

Corp

4,149,180

661,000

Prime

View

International

Co

Ltd

4,200,107

2,175,000

Quanta

Computer,

Inc

4,606,881

357,085

Realtek

Semiconductor

Corp

2,814,993

1,437,750

Ruentex

Development

Co

Ltd

1,764,852

2,703,421

Shanghai

Commercial

&

Savings

Bank

Ltd

3,891,044

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

TAIWAN—continued

11,026,684

Shin

Kong

Financial

Holding

Co

Ltd

$

2,733,757

8,065,484

SinoPac

Financial

Holdings

Co

Ltd

4,024,312

994,522

Synnex

Technology

International

Corp

1,619,193

8,688,497

Taishin

Financial

Holdings

Co

Ltd

3,565,697

4,878,039

Taiwan

Cement

Corp

4,574,058

7,400,492

Taiwan

Cooperative

Financial

Holding

5,733,995

1,583,561

Taiwan

High

Speed

Rail

Corp

1,379,546

1,504,861

Taiwan

Mobile

Co

Ltd

4,437,211

19,881,622

Taiwan

Semiconductor

Manufacturing

Co

Ltd

239,020,898

995,000

Unimicron

Technology

Corp

3,823,158

3,891,908

Uni-President

Enterprises

Corp

7,903,528

9,770,452

United

Microelectronics

Corp

11,748,588

662,000

Vanguard

International

Semiconductor

Corp

1,359,198

50,000

Voltronic

Power

Technology

Corp

2,027,206

2,072,529

Walsin

Lihwa

Corp

2,292,572

529,460

Wan

Hai

Lines

Ltd

1,108,409

289,878

Win

Semiconductors

Corp

1,093,742

2,251,000

Winbond

Electronics

Corp

1,356,810

64,000

Wiwynn

Corp

1,433,709

1,153,660

WPG

Holdings

Co

Ltd

1,570,773

267,438

Yageo

Corp

3,031,946

1,400,000

Yang

Ming

Marine

Transport

2,606,281

559,127

Zhen

Ding

Technology

Holding

Ltd

1,832,436

TOTAL

TAIWAN

596,657,366

TANZANIA,

UNITED

REPUBLIC

OF

-

.1

%

336,859

AngloGold

Ashanti

Ltd

4,399,283

TOTAL

TANZANIA,

UNITED

REPUBLIC

OF

4,399,283

THAILAND

-

.1

%

929,000

Advanced

Info

Service

PCL

4,668,243

3,250,056

Airports

of

Thailand

PCL

6,276,382

4,994,500

Asset

World

Corp

PCL

802,056

706,500

B

Grimm

Power

PCL

626,514

945,100

Bangkok

Commercial

Asset

Management

PCL

379,891

7,973,862

Bangkok

Dusit

Medical

Services

PCL

6,188,904

4,624,383

Bangkok

Expressway

&

Metro

PCL

1,142,556

812,800

Berli

Jucker

PCL

729,847

3,990,500

BTS

Group

Holdings

PCL

869,973

445,000

Bumrungrad

Hospital

PCL

2,652,655

159,400

Carabao

Group

PCL

378,490

1,608,099

Central

Pattana

PCL

2,909,412

1,213,037

Central

Retail

Corp

PCL

1,338,697

2,775,380

Charoen

Pokphand

Foods

PCL

1,845,252

4,560,155

CP

ALL

plc

7,192,838

241,300

Delta

Electronics

Thai

PCL

3,677,194

216,800

Electricity

Generating

PCL

971,996

1,303,803

Energy

Absolute

PCL

3,319,135

588,900

Global

Power

Synergy

Co

Ltd

959,784

2,191,550

Gulf

Energy

Development

PCL

2,912,609

4,127,826

Home

Product

Center

PCL

1,586,239

1,167,539

Indorama

Ventures

PCL

1,293,807

712,300

Intouch

Holdings

PCL

(Class

F)

1,348,451

458,906

JMT

Network

Services

PCL

785,359

552,300

Kasikornbank

PCL

(Foreign)

2,132,529

2,777,498

Krung

Thai

Bank

PCL

1,279,847

605,694

Krungthai

Card

PCL

908,717

6,641,740

Land

and

Houses

PCL

Co

Reg

1,605,084

2,212,103

\*

Minor

International

PCL

1,643,221

362,200

Muangthai

Capital

PCL

345,616

967,544

Osotspa

PCL

674,544

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

THAILAND—continued

1,278,009

PTT

Exploration

&

Production

PCL

$

6,060,973

1,806,629

PTT

Global

Chemical

PCL

2,069,871

2,152,122

PTT

Oil

&

Retail

Business

PCL

1,364,476

8,743,682

PTT

PCL

8,269,652

965,227

Ratch

Group

PCL

1,039,071

656,001

SCB

X

PCL

1,832,835

918,000

SCG

Packaging

PCL

1,255,496

570,958

Siam

Cement

PCL

4,862,445

423,900

Srisawad

Corp

PCL

457,636

1,184,250

Thai

Oil

PCL

1,702,842

1,960,800

Thai

Union

Group

PCL

927,998

6,115,448

True

Corp

PCL

798,119

TOTAL

THAILAND

94,087,256

TURKEY

-

.5

%

2,447,470

Akbank

TAS

1,923,989

809,998

Aselsan

Elektronik

Sanayi

Ve

Ticaret

AS

1,402,312

365,897

BIM

Birlesik

Magazalar

AS

2,634,412

1,012,193

Eregli

Demir

ve

Celik

Fabrikalari

TAS

1,613,080

51,329

Ford

Otomotiv

Sanayi

AS

1,001,792

884,714

Haci

Omer

Sabanci

Holding

AS

1,593,289

573,192

KOC

Holding

AS

1,709,894

467,601

\*

Turk

Hava

Yollari

2,545,047

922,552

Turkcell

Iletisim

Hizmet

AS

1,273,339

2,212,446

Turkiye

Is

Bankasi

(Series

C)

1,108,320

109,009

\*

Turkiye

Petrol

Rafinerileri

AS

2,208,289

1,109,329

Turkiye

Sise

ve

Cam

Fabrikalari

AS

1,978,025

TOTAL

TURKEY

20,991,788

UNITED

ARAB

EMIRATES

-

.5

%

2,240,701

Abu

Dhabi

Commercial

Bank

PJSC

5,767,936

1,121,209

Abu

Dhabi

Islamic

Bank

PJSC

2,901,017

2,854,114

Abu

Dhabi

National

Oil

Co

for

Distribution

PJSC

3,507,643

3,178,051

Aldar

Properties

PJSC

3,738,249

2,181,790

Dubai

Islamic

Bank

PJSC

3,456,556

3,385,648

Emaar

Properties

PJSC

5,588,874

1,491,529

Emirates

NBD

Bank

PJSC

5,385,821

2,776,092

Emirates

Telecommunications

Group

Co

PJSC

19,510,534

3,488,189

National

Bank

of

Abu

Dhabi

PJSC

17,011,050

TOTAL

UNITED

ARAB

EMIRATES

66,867,680

UNITED

STATES

-

.1

%

612,465

JBS

S.A.

2,959,467

38,260

\*

Legend

Biotech

Corp

(ADR)

1,906,113

58,000

Parade

Technologies

Ltd

1,092,255

TOTAL

UNITED

STATES

5,957,835

TOTAL

COMMON

STOCKS

4,474,294,713

(Cost

$4,985,216,352)

REFERENCERATE

&

SPREAD

EXP

EXPIRATION

DATE

RIGHTS/WARRANTS

-

0.0%

KOREA,

REPUBLIC

OF

-

.0

%

6,770

HLB,

Inc

47,323

TOTAL

KOREA,

REPUBLIC

OF

47,323

Portfolio

of

investments

Emerging

Markets

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

concluded

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted.

SHARES

COMPANY

REFERENCERATE

&

SPREAD

EXPIRATION

DATE

VALUE

THAILAND

-

.0

%

55,599

†

Thai

Union

Group

PCL

$

TOTAL

THAILAND

TOTAL

RIGHTS/WARRANTS

47,324

(Cost

$0)

PRINCIPAL

ISSUER

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

1.8%

GOVERNMENT

AGENCY

DEBT

-

.5

%

$

17,750,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

11/03/22

17,746,342

6,000,000

FHLB

.000

11/04/22

5,998,145

TOTAL

GOVERNMENT

AGENCY

DEBT

23,744,487

REPURCHASE

AGREEMENT

-

.2

%

53,675,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

53,675,000

TOTAL

REPURCHASE

AGREEMENT

53,675,000

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.1

%

7,347,100

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

7,347,100

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

7,347,100

TOTAL

SHORT-TERM

INVESTMENTS

84,766,587

(Cost

$84,767,646)

TOTAL

INVESTMENTS

-

100.2%

4,559,127,901

(Cost

$5,070,006,654)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.2)%

(10,834,093)

NET

ASSETS

-

100.0%

$

4,548,293,808

ADR

American

Depositary

Receipt

GDR

Global

Depositary

Receipt

INR

Indian

Rupee

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$32,362,752.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

h

All

or

a

portion

of

these

securities

were

purchased

on

a

delayed

delivery

basis.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$53,675,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rates

2.000%–7.620%

and

maturity

date

2/15/25,

valued

at

$54,748,528.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

ICE

US

MSCI

Emerging

Markets

EM

Index

Futures

2,187

12/16/22

$

95,209,216

$

93,341,160

$

(1,868,056)

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

SHARES

COMPANY

VALUE

COMMON

STOCKS

-

98.2%

AUSTRALIA

-

.1

%

294,486

Ampol

Ltd

$

5,136,369

1,482,081

APA

Group

9,977,945

784,108

Aristocrat

Leisure

Ltd

18,611,540

2,399,741

Aurizon

Holdings

Ltd

5,561,080

3,783,166

Australia

&

New

Zealand

Banking

Group

Ltd

61,982,401

248,003

Australian

Stock

Exchange

Ltd

10,745,590

989,098

\*,†

AZ

BGP

Holdings

6,452,573

BHP

Billiton

Ltd

154,992,116

627,798

BlueScope

Steel

Ltd

6,321,910

1,846,992

Brambles

Ltd

13,827,937

83,942

Cochlear

Ltd

10,723,054

1,711,074

Coles

Group

Ltd

17,890,404

2,178,206

Commonwealth

Bank

of

Australia

146,041,621

1,510,154

Dexus

Property

Group

7,525,251

74,700

e

Domino's

Pizza

Enterprises

Ltd

3,045,792

1,710,202

Endeavour

Group

Ltd

7,828,111

2,236,383

Evolution

Mining

Ltd

2,966,673

212,627

\*

Flutter

Entertainment

plc

28,081,491

2,142,398

Fortescue

Metals

Group

Ltd

20,183,536

12,578,508

Glencore

Xstrata

plc

72,113,450

2,144,656

Goodman

Group

23,335,368

2,388,194

GPT

Group

6,599,931

259,715

IDP

Education

Ltd

4,899,988

3,211,084

Insurance

Australia

Group

Ltd

10,079,387

885,868

Lend

Lease

Corp

Ltd

4,926,099

2,926,228

\*

Lottery

Corp

Ltd

8,027,720

463,275

Macquarie

Group

Ltd

50,257,368

3,619,704

Medibank

Pvt

Ltd

6,517,884

216,460

Mineral

Resources

Ltd

10,148,029

4,857,401

Mirvac

Group

6,435,887

4,097,248

National

Australia

Bank

Ltd

85,108,208

1,168,901

Newcrest

Mining

Ltd

12,945,901

1,526,161

Northern

Star

Resources

Ltd

8,517,655

543,292

Orica

Ltd

4,832,711

2,151,611

Origin

Energy

Ltd

7,686,796

1,240,185

\*

Qantas

Airways

Ltd

4,634,281

1,867,889

QBE

Insurance

Group

Ltd

14,634,837

238,521

Ramsay

Health

Care

Ltd

8,946,719

65,870

REA

Group

Ltd

5,105,311

306,438

e

Reece

Ltd

3,042,889

473,930

Rio

Tinto

Ltd

26,895,335

1,432,695

Rio

Tinto

plc

74,874,962

4,084,624

Santos

Ltd

19,939,731

6,637,574

Scentre

Group

12,352,663

411,319

Seek

Ltd

5,662,162

581,495

Sonic

Healthcare

Ltd

12,173,879

5,860,815

South32

Ltd

13,446,279

3,051,558

Stockland

Trust

Group

7,031,090

1,592,795

Suncorp-Metway

Ltd

11,651,311

5,355,018

Telstra

Group

Ltd

13,427,322

3,958,158

Transurban

Group

33,576,840

894,757

Treasury

Wine

Estates

Ltd

7,414,648

5,144,375

Vicinity

Centres

6,413,302

271,522

e

Washington

H

Soul

Pattinson

&

Co

Ltd

4,859,172

1,467,134

Wesfarmers

Ltd

42,574,795

4,464,766

Westpac

Banking

Corp

68,940,276

187,698

Wisetech

Global

Ltd

6,941,635

2,429,194

Woodside

Energy

Group

Ltd

56,159,195

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

AUSTRALIA—continued

1,575,431

Woolworths

Ltd

$

33,269,602

TOTAL

AUSTRALIA

1,347,843,440

AUSTRIA

-

.2

%

441,186

Erste

Bank

der

Oesterreichischen

Sparkassen

AG.

10,872,999

627,923

Mondi

plc

10,535,585

183,619

OMV

AG.

8,454,432

87,536

Verbund

AG.

6,857,119

152,922

Voestalpine

AG.

3,319,979

TOTAL

AUSTRIA

40,040,114

BELGIUM

-

.8

%

206,737

Ageas

7,156,858

1,110,514

Anheuser-Busch

InBev

S.A.

55,548,340

31,908

Dieteren

S.A.

5,310,386

44,924

Elia

System

Operator

S.A.

5,679,843

121,350

Groupe

Bruxelles

Lambert

S.A.

8,946,696

315,821

KBC

Groep

NV

15,827,601

178,114

Proximus

plc

1,867,298

20,629

Sofina

S.A.

4,022,630

93,260

Solvay

S.A.

8,415,862

162,805

UCB

S.A.

12,270,252

271,866

Umicore

S.A.

8,962,309

188,370

Warehouses

De

Pauw

CVA

4,834,689

TOTAL

BELGIUM

138,842,764

BRAZIL

-

.1

%

211,293

Yara

International

ASA

9,430,306

TOTAL

BRAZIL

9,430,306

CHILE

-

.0

%

500,933

Antofagasta

plc

6,750,278

TOTAL

CHILE

6,750,278

CHINA

-

.5

%

4,883,938

BOC

Hong

Kong

Holdings

Ltd

15,175,890

2,100,921

g

Budweiser

Brewing

Co

APAC

Ltd

4,421,857

2,523,400

Chow

Tai

Fook

Jewellery

Group

Ltd

4,320,251

2,551,697

g

ESR

Cayman

Ltd

4,351,540

75,300

\*

Futu

Holdings

Ltd

(ADR)

2,549,658

1,059,067

Prosus

NV

45,795,821

1,713,000

SITC

International

Co

Ltd

2,805,545

2,409,161

Wilmar

International

Ltd

6,600,022

2,191,770

Xinyi

Glass

Holdings

Co

Ltd

2,816,765

TOTAL

CHINA

88,837,349

DENMARK

-

.7

%

4,025

AP

Moller

-

Maersk

AS

(Class

A)

8,052,755

6,362

AP

Moller

-

Maersk

AS

(Class

B)

13,291,306

124,283

Carlsberg

AS

(Class

B)

14,633,776

133,801

Chr

Hansen

Holding

A/S

7,431,445

151,289

Coloplast

AS

16,864,209

893,049

Danske

Bank

AS

14,405,759

124,187

\*

Demant

A.S.

3,391,206

236,977

DSV

AS

32,022,284

83,695

\*

Genmab

AS

32,239,946

187,159

GN

Store

Nord

3,977,376

2,106,772

Novo

Nordisk

AS

229,071,952

257,310

Novozymes

AS

13,506,345

240,642

g

Orsted

AS

19,854,349

119,720

Pandora

AS

6,297,689

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

DENMARK—continued

14,062

Rockwool

International

AS

(B

Shares)

$

2,800,504

445,684

Tryg

A.S.

9,639,803

1,276,506

Vestas

Wind

Systems

A.S.

25,164,611

TOTAL

DENMARK

452,645,315

FINLAND

-

.2

%

174,263

Elisa

Oyj

(Series

A)

8,421,486

568,601

Fortum

Oyj

8,002,650

328,312

Kesko

Oyj

(B

Shares)

6,389,166

447,497

Kone

Oyj

(Class

B)

18,323,117

542,775

Neste

Oil

Oyj

23,788,991

6,909,421

Nokia

Oyj

30,704,865

4,323,248

Nordea

Bank

Abp

41,297,899

139,153

Orion

Oyj

(Class

B)

6,403,571

607,432

Sampo

Oyj

(A

Shares)

27,776,490

696,254

Stora

Enso

Oyj

(R

Shares)

9,078,321

677,572

UPM-Kymmene

Oyj

22,778,239

588,355

Wartsila

Oyj

(B

Shares)

4,010,976

TOTAL

FINLAND

206,975,771

FRANCE

-

.7

%

231,056

\*

Accor

S.A.

5,536,436

380,999

\*

Adevinta

ASA

2,608,078

37,065

\*

Aeroports

de

Paris

5,012,324

667,591

Air

Liquide

87,330,039

754,397

Airbus

SE

81,628,555

414,668

Alstom

RGPT

8,534,375

74,988

g

Amundi

S.A.

3,537,926

79,845

Arkema

6,318,776

2,392,403

AXA

S.A.

59,080,100

53,597

BioMerieux

4,742,182

1,422,236

BNP

Paribas

S.A.

66,694,163

1,122,591

Bollore

5,614,683

290,509

Bouygues

S.A.

8,288,555

368,310

Bureau

Veritas

S.A.

9,112,086

208,427

Cap

Gemini

S.A.

34,159,247

753,529

Carrefour

S.A.

12,128,387

853,657

Cie

Generale

des

Etablissements

Michelin

S.C.A

21,754,636

631,103

Compagnie

de

Saint-Gobain

25,800,077

1,541,027

Credit

Agricole

S.A.

13,982,752

814,461

Danone

40,478,295

30,499

Dassault

Aviation

S.A.

4,529,660

850,162

Dassault

Systemes

SE

28,496,383

326,544

Edenred

16,740,659

107,444

Eiffage

S.A.

9,715,277

728,676

Electricite

de

France

8,605,627

2,351,491

Engie

S.A.

30,553,750

364,417

Essilor

International

S.A.

57,624,586

59,588

Eurazeo

3,400,415

62,574

Fonciere

Des

Regions

3,350,309

57,048

Gecina

S.A.

5,086,060

560,601

Getlink

S.E.

8,871,223

40,525

Hermes

International

52,454,954

47,992

Ipsen

4,932,032

94,844

Kering

43,434,840

295,871

Klepierre

5,946,490

136,464

g

La

Francaise

des

Jeux

SAEM

4,447,166

334,121

Legrand

S.A.

25,461,562

307,742

L'Oreal

S.A.

96,632,273

354,539

LVMH

Moet

Hennessy

Louis

Vuitton

S.A.

223,712,188

2,556,689

Orange

S. A. 24,359,908

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

FRANCE—continued

266,814

Pernod-Ricard

S.A.

$

46,828,838

283,725

Publicis

Groupe

S.A.

15,889,841

29,035

Remy

Cointreau

S.A.

4,440,551

242,972

\*

Renault

S.A.

7,480,914

438,272

Safran

S.A.

48,810,303

1,459,085

Sanofi-Aventis

125,565,638

35,352

Sartorius

Stedim

Biotech

11,218,562

31,635

SEB

S.A.

2,059,488

1,029,368

Societe

Generale

23,610,634

111,943

Sodexho

Alliance

S.A.

9,916,168

72,891

Teleperformance

19,529,673

136,531

Thales

S.A.

17,363,999

3,164,923

Total

S.A.

172,657,154

119,867

\*

Ubisoft

Entertainment

3,288,659

33,854

\*

Unibail-Rodamco-Westfield

1,601,883

120,884

\*

Unibail-Rodamco-Westfield

5,712,926

292,397

Valeo

S.A.

4,816,648

853,766

Veolia

Environnement

19,052,651

676,000

Vinci

S.A.

62,216,976

886,228

Vivendi

Universal

S.A.

7,253,753

38,802

Wendel

3,038,270

300,412

\*,g

Worldline

S.A.

13,111,919

TOTAL

FRANCE

1,786,162,482

GERMANY

-

.7

%

218,588

Adidas-Salomon

AG.

21,337,481

519,085

Allianz

AG.

93,385,689

1,409,912

Aroundtown

S.A.

2,794,790

1,163,229

BASF

SE

52,194,826

1,253,496

Bayer

AG.

65,910,108

440,296

Bayerische

Motoren

Werke

AG.

34,559,654

57,447

Bayerische

Motoren

Werke

AG.

(Preference)

4,236,363

100,498

Bechtle

AG.

3,471,858

132,622

Beiersdorf

AG.

12,731,072

208,181

Brenntag

AG.

12,631,650

49,410

Carl

Zeiss

Meditec

AG.

5,980,742

1,401,632

\*

Commerzbank

AG.

11,198,618

142,103

Continental

AG.

7,360,319

238,348

g

Covestro

AG.

8,090,964

1,020,475

Daimler

AG.

(Registered)

59,066,675

579,039

\*

Daimler

Truck

Holding

AG.

15,444,462

918,781

Deutsche

Annington

Immobilien

SE

20,314,804

2,661,152

Deutsche

Bank

AG.

(Registered)

25,365,416

244,569

Deutsche

Boerse

AG.

39,771,722

755,744

\*

Deutsche

Lufthansa

AG.

5,167,025

1,261,539

Deutsche

Post

AG.

44,595,132

4,136,956

Deutsche

Telekom

AG.

78,087,053

145,323

\*

Dr

ING

hc

F

Porsche

AG.

14,864,195

2,840,612

E.ON

AG.

23,787,238

268,309

Evonik

Industries

AG.

4,942,711

251,649

Fresenius

Medical

Care

AG.

6,960,755

535,861

Fresenius

SE

12,331,844

190,727

GEA

Group

AG.

6,666,756

75,043

Hannover

Rueckversicherung

AG.

12,211,295

188,047

HeidelbergCement

AG.

8,647,676

220,089

\*

HelloFresh

SE

4,399,395

135,674

Henkel

KGaA

7,964,754

228,881

Henkel

KGaA

(Preference)

14,419,170

1,665,942

Infineon

Technologies

AG.

40,424,857

92,616

KION

Group

AG.

2,053,323

91,321

Knorr-Bremse

AG.

4,111,339

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

GERMANY—continued

94,700

LEG

Immobilien

AG.

$

6,182,506

166,704

Merck

KGaA

27,166,917

67,826

MTU

Aero

Engines

Holding

AG.

12,138,016

177,388

Muenchener

Rueckver

AG.

46,826,129

69,422

Nemetschek

AG.

3,309,830

193,009

Porsche

AG.

10,783,843

130,292

Puma

AG.

Rudolf

Dassler

Sport

5,760,319

6,499

Rational

AG.

3,663,488

55,886

Rheinmetall

AG.

9,084,361

823,086

RWE

AG.

31,684,807

1,334,228

SAP

AG.

128,423,130

31,297

Sartorius

AG.

11,035,017

103,883

g

Scout24

AG.

5,323,481

976,254

Siemens

AG.

106,615,683

577,000

Siemens

Energy

AG.

6,726,444

356,449

g

Siemens

Healthineers

AG.

16,329,835

173,253

Symrise

AG.

17,684,365

1,202,026

Telefonica

Deutschland

Holding

AG.

2,619,093

170,653

e

Uniper

SE

510,840

119,483

United

Internet

AG.

2,233,504

77,880

Volkswagen

AG.

13,312,169

186,856

Volkswagen

AG.

(Preference)

23,917,818

302,934

\*,g

Zalando

SE

6,982,073

TOTAL

GERMANY

1,285,795,399

HONG

KONG

-

.2

%

15,374,547

AIA

Group

Ltd

116,458,968

2,637,289

CK

Asset

Holdings

Ltd

14,580,427

832,044

CK

Infrastructure

Holdings

Ltd

3,952,809

2,069,382

CLP

Holdings

Ltd

13,889,282

2,544,237

Hang

Lung

Properties

Ltd

3,200,556

956,310

Hang

Seng

Bank

Ltd

13,462,720

1,833,728

Henderson

Land

Development

Co

Ltd

4,489,442

3,352,611

HK

Electric

Investments

&

HK

Electric

Investments

Ltd

2,131,635

4,857,835

HKT

Trust

and

HKT

Ltd

5,493,938

14,744,292

Hong

Kong

&

China

Gas

Ltd

11,364,443

1,701,927

Hong

Kong

Electric

Holdings

Ltd

8,137,846

1,538,764

Hong

Kong

Exchanges

and

Clearing

Ltd

40,844,333

1,452,770

Hongkong

Land

Holdings

Ltd

5,592,996

203,577

Jardine

Matheson

Holdings

Ltd

9,378,385

2,620,802

Link

REIT

15,490,546

2,087,188

MTR

Corp

9,184,022

1,942,588

New

World

Development

Co

Ltd

3,973,514

3,493,936

Prudential

plc

32,457,473

4,328,833

Sino

Land

Co

4,622,396

1,847,971

Sun

Hung

Kai

Properties

Ltd

19,858,881

666,612

Swire

Pacific

Ltd

(Class

A)

4,421,977

1,552,234

Swire

Properties

Ltd

2,983,259

1,753,660

Techtronic

Industries

Co

16,604,997

10,184,605

g

WH

Group

Ltd

5,143,338

2,109,426

Wharf

Real

Estate

Investment

Co

Ltd

8,311,264

TOTAL

HONG

KONG

376,029,447

IRELAND

-

.5

%

178,219

\*

AerCap

Holdings

NV

9,518,677

970,628

CRH

plc

34,959,906

209,524

Kerry

Group

plc

(Class

A)

18,198,172

201,019

Kingspan

Group

plc

10,134,712

315,430

Smurfit

Kappa

Group

plc

10,441,661

TOTAL

IRELAND

83,253,128

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

ISRAEL

-

.8

%

53,711

Azrieli

Group

$

3,979,204

1,623,663

Bank

Hapoalim

Ltd

15,650,900

1,990,087

Bank

Leumi

Le-Israel

18,984,920

2,532,154

Bezeq

Israeli

Telecommunication

Corp

Ltd

4,482,508

129,803

\*

Check

Point

Software

Technologies

16,774,442

35,342

Elbit

Systems

Ltd

7,150,934

918,953

Israel

Chemicals

Ltd

8,286,751

1,535,482

Israel

Discount

Bank

Ltd

8,730,884

190,841

Mizrahi

Tefahot

Bank

Ltd

7,214,085

80,140

\*

Nice

Systems

Ltd

15,103,923

1,416,510

\*

Teva

Pharmaceutical

Industries

Ltd

(ADR)

12,635,269

136,718

\*

Tower

Semiconductor

Ltd

(Tel

Aviv)

5,842,757

75,983

\*

Wix.com

Ltd

6,390,170

107,784

e

ZIM

Integrated

Shipping

Services

Ltd

2,531,846

TOTAL

ISRAEL

133,758,593

ITALY

-

.0

%

164,832

Amplifon

S.p.A.

4,095,078

1,408,069

Assicurazioni

Generali

S.p.A.

21,131,032

638,886

Autostrade

S.p.A.

14,251,959

262,269

Coca-Cola

HBC

AG.

5,728,821

684,926

Davide

Campari-Milano

NV

6,150,855

32,403

DiaSorin

S.p.A.

4,236,227

10,288,166

Enel

S.p.A.

45,960,810

3,211,100

ENI

S.p.A.

42,173,682

161,153

Ferrari

NV

31,769,424

784,645

FinecoBank

Banca

Fineco

S.p.A

10,573,552

415,047

g

Infrastrutture

Wireless

Italiane

S.p.A

3,663,272

21,121,157

Intesa

Sanpaolo

S.p.A.

40,268,064

775,085

e

Mediobanca

S.p.A.

7,021,948

265,275

Moncler

S.p.A

11,445,079

690,331

\*,g

Nexi

S.p.A

5,968,244

616,962

g

Poste

Italiane

S.p.A

5,376,368

329,648

Prysmian

S.p.A.

10,729,418

132,191

Recordati

S.p.A.

4,966,612

2,687,429

Snam

Rete

Gas

S.p.A.

11,949,680

10,444,730

Telecom

Italia

S.p.A.

2,043,426

1,763,992

Terna

Rete

Elettrica

Nazionale

S.p.A.

11,698,203

2,672,144

UniCredit

S.p.A.

33,137,963

TOTAL

ITALY

334,339,717

JAPAN

-

.7

%

237,077

Advantest

Corp

12,480,105

849,377

Aeon

Co

Ltd

15,841,378

179,842

Aisin

Seiki

Co

Ltd

4,616,496

588,322

Ajinomoto

Co,

Inc

16,180,743

208,059

\*

All

Nippon

Airways

Co

Ltd

4,044,399

582,259

Asahi

Breweries

Ltd

16,292,029

237,708

Asahi

Glass

Co

Ltd

7,448,569

286,252

Asahi

Intecc

Co

Ltd

4,876,342

1,587,739

Asahi

Kasei

Corp

10,180,445

2,340,003

Astellas

Pharma,

Inc

32,287,786

163,458

Azbil

Corp

4,442,081

254,698

Bandai

Namco

Holdings

Inc

16,836,268

714,387

Bridgestone

Corp

25,836,839

307,251

Brother

Industries

Ltd

5,234,299

1,285,198

e

Canon,

Inc

27,242,960

227,814

Capcom

Co

Ltd

6,336,634

183,528

Central

Japan

Railway

Co

21,248,222

727,512

Chiba

Bank

Ltd

3,986,126

835,117

Chubu

Electric

Power

Co,

Inc

6,797,786

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

855,427

Chugai

Pharmaceutical

Co

Ltd

$

19,821,831

1,520,911

Concordia

Financial

Group

Ltd

4,640,635

572,576

CyberAgent,

Inc

4,703,813

279,875

Dai

Nippon

Printing

Co

Ltd

5,606,099

132,034

Daifuku

Co

Ltd

6,043,847

1,239,766

Dai-ichi

Mutual

Life

Insurance

Co

19,690,886

2,243,642

Daiichi

Sankyo

Co

Ltd

71,820,686

317,911

Daikin

Industries

Ltd

47,618,993

76,183

Daito

Trust

Construction

Co

Ltd

7,543,929

759,863

Daiwa

House

Industry

Co

Ltd

15,309,212

2,756

Daiwa

House

REIT

Investment

Corp

5,562,421

1,629,391

\*

Daiwa

Securities

Group,

Inc

6,357,347

553,278

Denso

Corp

27,451,387

280,510

Dentsu,

Inc

8,724,804

35,509

Disco

Corp

8,493,061

473,384

Don

Quijote

Co

Ltd

7,768,572

379,465

East

Japan

Railway

Co

20,219,931

322,745

Eisai

Co

Ltd

19,462,538

4,134,759

ENEOS

Holdings,

Inc

13,639,145

243,198

\*

Fanuc

Ltd

31,822,852

74,481

Fast

Retailing

Co

Ltd

41,496,430

159,543

\*

Fuji

Electric

Holdings

Co

Ltd

6,168,724

768,964

Fuji

Heavy

Industries

Ltd

12,019,538

458,573

Fujifilm

Holdings

Corp

20,979,657

249,415

Fujitsu

Ltd

28,697,324

5,429

GLP

J-Reit

5,630,320

55,415

GMO

Payment

Gateway,

Inc

3,984,662

305,011

Hakuhodo

DY

Holdings,

Inc

2,569,945

173,587

Hamamatsu

Photonics

KK

7,853,300

279,003

Hankyu

Hanshin

Holdings,

Inc

8,286,595

26,609

Hikari

Tsushin,

Inc

3,214,217

38,570

Hirose

Electric

Co

Ltd

5,003,352

148,363

\*

Hitachi

Construction

Machinery

Co

Ltd

2,902,577

1,234,000

\*

Hitachi

Ltd

55,991,281

2,061,096

Honda

Motor

Co

Ltd

46,998,087

145,650

Hoshizaki

Electric

Co

Ltd

4,172,869

467,394

\*

Hoya

Corp

43,449,570

462,985

Hulic

Co

Ltd

3,363,283

150,186

Ibiden

Co

Ltd

5,062,371

282,873

Idemitsu

Kosan

Co

Ltd

6,189,326

197,873

Iida

Group

Holdings

Co

Ltd

2,747,538

1,338,692

Inpex

Holdings,

Inc

13,510,609

740,524

Isuzu

Motors

Ltd

8,708,309

65,619

e

Ito

En

Ltd

2,311,122

1,507,682

Itochu

Corp

38,965,341

139,271

Itochu

Techno-Science

Corp

3,228,822

191,876

\*

Japan

Airlines

Co

Ltd

3,583,885

606,715

Japan

Post

Bank

Co

Ltd

4,042,621

3,089,718

Japan

Post

Holdings

Co

Ltd

20,777,044

298,063

Japan

Post

Insurance

Co

Ltd

4,412,272

1,548

Japan

Real

Estate

Investment

Corp

6,486,565

8,890

Japan

Retail

Fund

Investment

Corp

6,549,523

1,574,291

Japan

Tobacco,

Inc

26,365,326

641,649

JFE

Holdings,

Inc

5,878,221

216,680

JSR

Corp

4,117,140

525,748

Kajima

Corp

4,948,961

178,874

Kakaku.com,

Inc

3,025,293

860,919

Kansai

Electric

Power

Co,

Inc

6,521,688

607,178

Kao

Corp

22,679,270

2,068,323

KDDI

Corp

61,133,361

128,936

Keio

Corp

4,520,563

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

159,268

Keisei

Electric

Railway

Co

Ltd

$

4,227,303

247,786

Keyence

Corp

93,431,438

182,465

Kikkoman

Corp

9,887,786

222,460

Kintetsu

Corp

7,518,011

1,051,327

Kirin

Brewery

Co

Ltd

15,454,435

70,779

Kobayashi

Pharmaceutical

Co

Ltd

3,756,014

181,811

e

Kobe

Bussan

Co

Ltd

3,943,592

170,084

e

Koei

Tecmo

Holdings

Co

Ltd

2,566,385

283,018

\*

Koito

Manufacturing

Co

Ltd

4,017,959

1,185,705

Komatsu

Ltd

23,228,183

118,377

Konami

Corp

5,188,618

42,885

e

Kose

Corp

4,280,800

1,299,954

Kubota

Corp

18,133,828

135,258

Kurita

Water

Industries

Ltd

4,951,115

409,136

Kyocera

Corp

19,812,994

349,012

Kyowa

Hakko

Kogyo

Co

Ltd

8,219,819

95,944

Lasertec

Corp

13,481,173

379,552

LIXIL

Group

Corp

5,733,238

566,992

M3,

Inc

16,896,461

277,969

Makita

Corp

5,079,469

1,968,373

Marubeni

Corp

17,230,966

716,806

Mazda

Motor

Corp

4,826,226

114,815

McDonald's

Holdings

Co

Japan

Ltd

3,986,060

146,026

MEIJI

Holdings

Co

Ltd

6,008,839

459,291

Minebea

Co

Ltd

6,787,599

362,043

MISUMI

Group,

Inc

7,711,315

1,564,441

Mitsubishi

Chemical

Holdings

Corp

7,067,129

1,598,062

Mitsubishi

Corp

43,289,707

2,449,434

Mitsubishi

Electric

Corp

21,551,606

1,478,506

Mitsubishi

Estate

Co

Ltd

18,592,647

410,489

Mitsubishi

Heavy

Industries

Ltd

14,138,906

15,132,888

Mitsubishi

UFJ

Financial

Group,

Inc

71,485,477

788,133

Mitsubishi

UFJ

Lease

&

Finance

Co

Ltd

3,381,923

1,777,854

Mitsui

&

Co

Ltd

39,342,438

241,660

Mitsui

Chemicals,

Inc

4,472,866

1,142,391

Mitsui

Fudosan

Co

Ltd

21,874,919

450,000

e

Mitsui

OSK

Lines

Ltd

8,907,834

3,132,388

Mizuho

Financial

Group,

Inc

33,878,222

318,796

MonotaRO

Co

Ltd

4,839,276

557,123

MS&AD

Insurance

Group

Holdings

Inc

14,753,288

731,332

Murata

Manufacturing

Co

Ltd

34,620,830

300,839

NEC

Corp

9,958,038

636,183

Nexon

Co

Ltd

10,646,029

284,989

NGK

Insulators

Ltd

3,324,698

565,435

Nidec

Corp

31,089,872

404,088

Nihon

M&A

Center,

Inc

4,559,649

1,402,230

Nintendo

Co

Ltd

56,929,266

2,008

Nippon

Building

Fund,

Inc

8,926,049

101,087

Nippon

Express

Holdings,

Inc

5,079,411

1,044,485

Nippon

Paint

Co

Ltd

6,656,525

2,612

Nippon

ProLogis

REIT,

Inc

5,480,739

65,973

Nippon

Shinyaku

Co

Ltd

3,652,677

1,029,738

Nippon

Steel

Corp

14,126,482

1,545,036

Nippon

Telegraph

&

Telephone

Corp

42,613,165

615,516

e

Nippon

Yusen

Kabushiki

Kaisha

11,149,738

158,425

Nissan

Chemical

Industries

Ltd

7,131,561

2,999,464

\*

Nissan

Motor

Co

Ltd

9,560,201

263,720

Nisshin

Seifun

Group,

Inc

2,849,657

79,465

Nissin

Food

Products

Co

Ltd

5,143,679

103,876

Nitori

Co

Ltd

9,412,932

177,541

Nitto

Denko

Corp

9,353,875

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

3,632,250

\*

Nomura

Holdings,

Inc

$

11,753,808

157,462

Nomura

Real

Estate

Holdings,

Inc

3,559,241

5,150

Nomura

Real

Estate

Master

Fund,

Inc

5,875,282

433,137

Nomura

Research

Institute

Ltd

9,585,407

782,377

NTT

Data

Corp

11,331,831

909,476

Obayashi

Corp

5,837,620

90,750

Obic

Co

Ltd

13,618,210

376,060

Odakyu

Electric

Railway

Co

Ltd

4,470,582

1,035,727

OJI

Paper

Co

Ltd

3,590,580

1,580,140

Olympus

Corp

33,316,445

236,217

Omron

Corp

11,016,770

465,770

Ono

Pharmaceutical

Co

Ltd

10,961,222

101,200

Open

House

Co

Ltd

3,599,623

46,531

\*

Oracle

Corp

Japan

2,478,776

256,133

Oriental

Land

Co

Ltd

34,303,286

1,515,991

ORIX

Corp

22,266,407

465,906

Osaka

Gas

Co

Ltd

6,898,995

644,453

Osaka

Securities

Exchange

Co

Ltd

8,469,261

140,901

Otsuka

Corp

4,437,273

507,761

Otsuka

Holdings

KK

16,276,022

2,806,534

Panasonic

Corp

19,989,849

226,656

Persol

Holdings

Co

Ltd

4,538,182

1,096,499

\*

Rakuten,

Inc

4,895,172

1,840,948

Recruit

Holdings

Co

Ltd

56,648,117

1,507,572

\*

Renesas

Electronics

Corp

12,611,965

2,853,534

Resona

Holdings,

Inc

10,754,831

724,888

Ricoh

Co

Ltd

5,311,826

108,644

Rohm

Co

Ltd

7,633,825

319,944

\*

SBI

Holdings,

Inc

5,779,487

271,953

Secom

Co

Ltd

15,493,291

365,034

Seiko

Epson

Corp

4,955,758

444,518

Sekisui

Chemical

Co

Ltd

5,551,152

776,211

Sekisui

House

Ltd

12,887,275

953,648

Seven

&

I

Holdings

Co

Ltd

35,598,112

365,924

SG

Holdings

Co

Ltd

4,848,893

312,932

e

Sharp

Corp

1,876,992

321,446

Shimadzu

Corp

8,467,808

93,578

Shimano,

Inc

14,480,557

766,471

Shimizu

Corp

3,824,683

479,446

Shin-Etsu

Chemical

Co

Ltd

49,828,792

340,433

Shionogi

&

Co

Ltd

15,808,770

509,638

Shiseido

Co

Ltd

17,601,469

661,119

\*

Shizuoka

Financial

Group,

Inc

4,174,847

72,551

SMC

Corp

29,122,119

3,697,077

Softbank

Corp

36,469,404

1,541,725

Softbank

Group

Corp

66,180,403

401,259

Sompo

Holdings,

Inc

16,729,405

1,609,932

Sony

Corp

108,565,175

111,611

Square

Enix

Co

Ltd

4,980,310

441,172

Sumco

Corp

5,591,779

200,264

Sumisho

Computer

Systems

Corp

2,954,587

1,942,619

Sumitomo

Chemical

Co

Ltd

6,541,299

1,435,255

Sumitomo

Corp

18,247,493

915,294

Sumitomo

Electric

Industries

Ltd

9,565,112

316,042

Sumitomo

Metal

Mining

Co

Ltd

8,858,920

1,661,745

Sumitomo

Mitsui

Financial

Group,

Inc

46,664,389

455,902

Sumitomo

Mitsui

Trust

Holdings,

Inc

13,115,850

383,222

Sumitomo

Realty

&

Development

Co

Ltd

8,788,778

180,291

Suntory

Beverage

&

Food

Ltd

6,031,938

468,993

Suzuki

Motor

Corp

15,856,563

211,303

Sysmex

Corp

11,373,142

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

JAPAN—continued

666,830

T&D

Holdings,

Inc

$

6,595,083

237,485

Taisei

Corp

6,469,238

229,172

Taiyo

Nippon

Sanso

Corp

3,648,745

1,924,109

Takeda

Pharmaceutical

Co

Ltd

50,813,792

494,495

TDK

Corp

15,447,210

817,362

Terumo

Corp

24,806,118

278,929

TIS,

Inc

7,520,407

249,323

Tobu

Railway

Co

Ltd

5,767,458

152,397

Toho

Co

Ltd

5,419,002

2,371,138

Tokio

Marine

Holdings,

Inc

42,929,826

1,944,046

\*

Tokyo

Electric

Power

Co,

Inc

6,332,855

190,953

Tokyo

Electron

Ltd

50,239,053

506,529

Tokyo

Gas

Co

Ltd

9,052,428

700,158

Tokyu

Corp

8,073,172

316,828

Toppan

Printing

Co

Ltd

4,725,225

1,715,240

Toray

Industries,

Inc

8,331,519

491,611

Toshiba

Corp

17,059,655

323,339

Tosoh

Corp

3,517,760

179,097

Toto

Ltd

5,108,323

183,667

Toyota

Industries

Corp

9,461,643

13,527,850

\*

Toyota

Motor

Corp

187,693,497

267,041

Toyota

Tsusho

Corp

8,963,469

169,566

\*

Trend

Micro,

Inc

8,550,110

511,116

Uni-Charm

Corp

15,533,541

281,661

USS

Co

Ltd

4,249,910

132,215

Welcia

Holdings

Co

Ltd

2,763,477

274,606

West

Japan

Railway

Co

10,887,186

161,285

Yakult

Honsha

Co

Ltd

8,935,017

193,616

Yamaha

Corp

7,309,827

380,987

Yamaha

Motor

Co

Ltd

7,864,544

371,406

Yamato

Transport

Co

Ltd

5,500,253

312,969

Yaskawa

Electric

Corp

8,665,889

284,036

Yokogawa

Electric

Corp

4,749,395

3,363,836

Z

Holdings

Corp

8,681,246

161,304

ZOZO

Inc

3,422,580

TOTAL

JAPAN

3,627,192,748

JORDAN

-

.0

%

208,856

Hikma

Pharmaceuticals

plc

2,998,175

TOTAL

JORDAN

2,998,175

KOREA,

REPUBLIC

OF

-

.0

%

218,140

\*,g

Delivery

Hero

AG.

7,178,745

TOTAL

KOREA,

REPUBLIC

OF

7,178,745

LUXEMBOURG

-

.2

%

687,589

ArcelorMittal

15,370,121

170,073

Eurofins

Scientific

SE

10,887,186

TOTAL

LUXEMBOURG

26,257,307

MACAU

-

.1

%

2,810,914

Galaxy

Entertainment

Group

Ltd

12,842,080

3,047,622

\*

Sands

China

Ltd

5,327,926

TOTAL

MACAU

18,170,006

NETHERLANDS

-

.4

%

577,356

g

ABN

AMRO

Group

NV

5,675,774

27,592

\*,g

Adyen

NV

39,390,306

2,243,833

Aegon

NV

10,387,056

228,761

Akzo

Nobel

NV

14,122,660

68,603

\*

Argenx

SE

26,766,214

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

NETHERLANDS—continued

1,564

\*

Argenx

SE

$

607,224

60,509

ASM

International

NV

13,385,782

520,042

ASML

Holding

NV

243,944,733

223,012

DSM

NV

26,232,974

106,294

g

Euronext

NV

6,746,357

137,418

EXOR

NV

9,234,624

123,616

Heineken

Holding

NV

8,434,836

330,436

Heineken

NV

27,602,704

73,114

IMCD

Group

NV

9,482,475

4,980,275

ING

Groep

NV

49,003,841

137,705

JDE

Peet's

BV

3,941,819

1,331,508

Koninklijke

Ahold

Delhaize

NV

37,133,449

4,099,927

Koninklijke

KPN

NV

11,467,928

1,126,519

Koninklijke

Philips

Electronics

NV

14,289,756

352,719

NN

Group

NV

14,934,981

135,240

e

OCI

NV

5,172,644

146,500

Randstad

Holdings

NV

7,301,441

9,490,465

Shell

plc

262,900,917

910,320

Universal

Music

Group

NV

17,874,541

337,922

Wolters

Kluwer

NV

35,907,090

TOTAL

NETHERLANDS

901,942,126

NEW

ZEALAND

-

.2

%

1,541,951

\*

Auckland

International

Airport

Ltd

6,893,167

725,615

Fisher

&

Paykel

Healthcare

Corp

8,246,628

844,815

Mercury

NZ

Ltd

2,856,566

1,604,358

Meridian

Energy

Ltd

4,547,707

2,386,400

Telecom

Corp

of

New

Zealand

Ltd

7,103,745

166,431

\*

Xero

Ltd

8,264,743

TOTAL

NEW

ZEALAND

37,912,556

NORWAY

-

.7

%

404,635

e

Aker

BP

ASA

12,853,776

1,184,140

DNB

Bank

ASA

20,943,739

1,262,368

Equinor

ASA

45,992,761

280,617

Gjensidige

Forsikring

BA

5,129,321

103,238

Kongsberg

Gruppen

ASA

3,702,157

535,907

Mowi

ASA

7,998,829

1,726,899

Norsk

Hydro

ASA

10,959,454

924,299

Orkla

ASA

6,234,541

76,156

Salmar

ASA

2,581,813

873,918

Telenor

ASA

7,942,051

TOTAL

NORWAY

124,338,442

PORTUGAL

-

.2

%

3,557,554

Energias

de

Portugal

S.A.

15,544,070

615,252

Galp

Energia

SGPS

S.A.

6,246,713

366,091

Jeronimo

Martins

SGPS

S.A.

7,575,524

TOTAL

PORTUGAL

29,366,307

SINGAPORE

-

.6

%

4,289,606

Ascendas

REIT

7,936,589

3,181,301

Capitaland

Investment

Ltd

6,765,496

6,794,600

CapitaMall

Trust

9,017,480

481,243

City

Developments

Ltd

2,594,675

2,296,970

DBS

Group

Holdings

Ltd

55,532,242

6,847,039

Genting

Singapore

Ltd

3,893,719

1,760,745

\*

Grab

Holdings

Ltd

4,577,937

1,870,581

Keppel

Corp

Ltd

9,207,034

2,849,701

Mapletree

Commercial

Trust

3,197,960

4,276,290

Mapletree

Logistics

Trust

4,589,611

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

SINGAPORE—continued

4,320,431

Oversea-Chinese

Banking

Corp

$

37,086,935

465,300

\*

Sea

Ltd

(ADR)

23,116,104

1,601,622

\*,e

Singapore

Airlines

Ltd

5,940,907

1,186,747

Singapore

Exchange

Ltd

7,057,142

2,249,177

Singapore

Technologies

Engineering

Ltd

5,243,584

10,831,002

Singapore

Telecommunications

Ltd

19,070,628

868,300

STMicroelectronics

NV

26,998,867

1,503,138

United

Overseas

Bank

Ltd

29,489,742

561,591

UOL

Group

Ltd

2,452,911

413,378

Venture

Corp

Ltd

4,651,886

TOTAL

SINGAPORE

268,421,449

SOUTH

AFRICA

-

.3

%

1,620,643

Anglo

American

plc

48,545,065

TOTAL

SOUTH

AFRICA

48,545,065

SPAIN

-

.5

%

31,785

Acciona

S.A.

5,723,258

294,357

e

ACS

Actividades

de

Construccion

y

Servicios

S.A.

7,553,572

99,610

\*,g

Aena

S.A.

11,707,304

570,011

\*

Amadeus

IT

Holding

S.A.

29,729,073

8,517,203

Banco

Bilbao

Vizcaya

Argentaria

S.A.

43,938,445

21,841,332

e

Banco

Santander

S.A.

56,644,961

5,555,273

CaixaBank

S.A.

18,421,525

696,086

g

Cellnex

Telecom

SAU

22,783,057

367,490

EDP

Renovaveis

S.A.

7,732,900

320,573

Enagas

5,204,150

409,413

Endesa

S.A.

6,840,488

645,781

Ferrovial

S.A.

15,781,825

402,036

\*,e

Grifols

S.A.

3,420,351

7,588,436

Iberdrola

S.A.

77,168,880

1,388,305

e

Industria

De

Diseno

Textil

S.A.

31,512,020

185,055

e

Naturgy

Energy

Group

S.A.

4,748,979

495,405

Red

Electrica

Corp

S.A.

8,013,525

1,825,028

Repsol

YPF

S.A.

24,828,529

311,178

\*

Siemens

Gamesa

Renewable

Energy

5,516,769

6,604,553

Telefonica

S.A.

22,767,175

TOTAL

SPAIN

410,036,786

SWEDEN

-

.2

%

379,088

Alfa

Laval

AB

9,331,365

1,268,272

Assa

Abloy

AB

25,609,038

3,411,513

e

Atlas

Copco

AB

36,411,926

1,973,082

Atlas

Copco

AB

19,081,988

350,127

Boliden

AB

10,182,008

283,004

e

Electrolux

AB

3,491,470

883,234

\*,e

Embracer

Group

AB

4,249,018

479,740

Epiroc

AB

6,441,551

836,568

Epiroc

AB

12,806,557

388,884

e

EQT

AB

7,653,213

3,749,733

Ericsson

(LM) (B

Shares)

20,846,054

790,574

Essity

AB

16,703,526

234,511

g

Evolution

Gaming

Group

AB

21,875,813

804,123

\*

Fastighets

AB

Balder

3,018,390

283,901

Getinge

AB

(B

Shares)

5,761,198

916,823

e

Hennes

&

Mauritz

AB

(B

Shares)

9,234,383

2,472,763

Hexagon

AB

24,445,457

120,088

Holmen

AB

4,358,043

537,425

e

Husqvarna

AB

(B

Shares)

3,190,771

194,442

Industrivarden

AB

4,366,276

157,747

Industrivarden

AB

3,572,637

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

SWEDEN—continued

367,058

Indutrade

AB

$

6,426,434

183,086

Investment

AB

Latour

3,092,739

635,843

Investor

AB

10,812,353

2,315,080

Investor

AB

37,783,518

337,265

\*

Kinnevik

AB

4,166,383

322,720

Lifco

AB

4,663,249

94,447

Lundbergs

AB

(B

Shares)

3,727,598

1,923,686

Nibe

Industrier

AB

15,344,804

244,748

Sagax

AB

4,510,054

1,354,503

Sandvik

AB

21,166,475

769,574

e

Securitas

AB

(B

Shares)

6,288,040

2,058,514

Skandinaviska

Enskilda

Banken

AB

(Class

A)

21,703,719

417,080

Skanska

AB

(B

Shares)

6,486,155

484,754

SKF

AB

(B

Shares)

7,017,111

777,981

Svenska

Cellulosa

AB

(B

Shares)

9,178,452

1,834,789

Svenska

Handelsbanken

AB

17,047,076

1,139,933

Swedbank

AB

(A

Shares)

16,994,176

1,960,057

Swedish

Match

AB

20,158,968

217,999

\*

Swedish

Orphan

Biovitrum

AB

4,015,413

699,098

Tele2

AB

(B

Shares)

5,729,818

3,462,244

e

TeliaSonera

AB

9,174,132

235,339

Volvo

AB

(A

Shares)

4,019,974

1,933,066

Volvo

AB

(B

Shares)

31,638,348

854,819

\*,e

Volvo

Car

AB

3,627,922

TOTAL

SWEDEN

527,403,593

SWITZERLAND

-

.9

%

2,092,135

ABB

Ltd

58,099,215

207,057

Adecco

S.A.

6,480,048

639,638

Alcon,

Inc

38,944,583

41,060

e

Bachem

Holding

AG.

2,944,251

60,325

Baloise

Holding

AG.

8,241,730

4,394

Barry

Callebaut

AG.

8,313,061

665,087

Cie

Financiere

Richemont

S.A.

65,001,298

288,496

Clariant

AG.

4,636,364

3,150,367

e

Credit

Suisse

Group

13,050,268

8,809

EMS-Chemie

Holding

AG.

5,539,019

45,960

Geberit

AG.

20,430,936

11,688

Givaudan

S.A.

34,911,347

705,794

Holcim

Ltd

32,065,852

287,339

Julius

Baer

Group

Ltd

13,786,198

69,030

Kuehne

&

Nagel

International

AG.

14,694,151

1,343

Lindt

&

Spruengli

AG.

12,888,822

Lindt

&

Spruengli

AG.

(Registered)

13,606,437

220,134

e

Logitech

International

S.A.

10,947,685

94,430

Lonza

Group

AG.

48,611,043

2,759,006

Novartis

AG.

223,177,950

28,990

Partners

Group

26,020,930

50,719

Schindler

Holding

AG.

8,270,541

29,987

Schindler

Holding

AG.

(Registered)

4,720,557

8,057

SGS

S.A.

17,761,743

396,122

SIG

Combibloc

Group

AG.

7,614,682

186,950

Sika

AG.

42,152,689

69,522

Sonova

Holdings

AG

16,432,472

141,562

Straumann

Holding

AG.

13,472,640

39,464

\*

Swatch

Group

AG.

8,867,932

52,219

Swatch

Group

AG.

(Registered)

2,181,642

41,088

Swiss

Life

Holding

19,895,716

100,209

Swiss

Prime

Site

AG.

8,086,157

34,138

Swisscom

AG.

16,856,972

79,184

Temenos

Group

AG.

4,716,101

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

SWITZERLAND—continued

4,520,288

UBS

Group

AG

$

71,665,333

35,723

g

VAT

Group

AG.

8,155,604

191,987

Zurich

Insurance

Group

AG

81,819,844

TOTAL

SWITZERLAND

995,061,813

UNITED

ARAB

EMIRATES

-

.0

%

121,704

\*,†

NMC

Health

plc

TOTAL

UNITED

ARAB

EMIRATES

UNITED

KINGDOM

-

.9

%

1,246,779

3i

Group

plc

16,605,055

227,387

Admiral

Group

plc

5,258,467

570,769

Ashtead

Group

plc

29,733,081

437,354

Associated

British

Foods

plc

6,778,669

1,981,202

AstraZeneca

plc

232,458,626

1,213,999

g

Auto

Trader

Group

plc

7,266,722

146,175

Aveva

Group

plc

5,231,339

3,617,182

\*

Aviva

plc

17,350,263

4,003,077

BAE

Systems

plc

37,443,032

21,503,949

Barclays

plc

36,540,625

1,328,814

Barratt

Developments

plc

5,731,288

142,572

Berkeley

Group

Holdings

plc

5,672,560

24,646,747

BP

plc

136,360,622

2,765,244

British

American

Tobacco

plc

109,209,018

1,120,937

British

Land

Co

plc

4,702,205

8,810,407

BT

Group

plc

13,129,536

431,067

Bunzl

plc

14,046,531

517,624

Burberry

Group

plc

10,785,782

3,419,739

CK

Hutchison

Holdings

Ltd

17,022,877

1,317,265

CNH

Industrial

NV

17,041,559

261,910

\*

Coca-Cola

European

Partners

plc

(Class

A)

12,322,866

2,299,550

Compass

Group

plc

48,432,696

175,902

Croda

International

plc

13,627,046

118,574

DCC

plc

6,580,955

2,939,191

Diageo

plc

120,954,944

762,997

Entain

PLC

11,037,947

1,167,012

Experian

Group

Ltd

37,210,480

6,430,045

\*

Haleon

plc

19,717,420

472,564

Halma

plc

11,459,336

438,151

Hargreaves

Lansdown

plc

3,829,266

25,616,607

HSBC

Holdings

plc

131,465,692

1,169,046

Imperial

Tobacco

Group

plc

28,476,872

1,901,139

Informa

plc

12,113,901

231,887

InterContinental

Hotels

Group

plc

12,459,452

217,000

Intertek

Group

plc

9,090,770

2,238,462

J

Sainsbury

plc

4,989,739

3,110,195

JD

Sports

Fashion

plc

3,475,425

246,251

Johnson

Matthey

plc

5,466,179

259,086

\*,g

Just

Eat

Takeaway.com

NV

4,445,937

2,453,863

Kingfisher

plc

6,165,165

943,934

Land

Securities

Group

plc

6,172,275

7,665,123

Legal

&

General

Group

plc

20,506,194

88,366,819

Lloyds

TSB

Group

plc

42,439,669

420,865

London

Stock

Exchange

Group

plc

36,481,417

3,389,482

M&G

plc

6,811,584

5,606,687

Melrose

Industries

plc

7,520,713

4,677,907

National

Grid

plc

50,966,339

6,765,145

NatWest

Group

plc

18,220,572

166,858

Next

plc

9,424,077

711,976

\*

Ocado

Ltd

3,859,831

834,598

Pearson

plc

9,224,908

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

SHARES

COMPANY

VALUE

UNITED

KINGDOM—continued

394,037

Persimmon

plc

$

5,896,315

935,849

Phoenix

Group

Holdings

plc

5,824,698

908,960

Reckitt

Benckiser

Group

plc

60,322,182

2,473,842

RELX

plc

66,448,590

3,183,956

Rentokil

Initial

plc

19,868,217

10,079,953

\*

Rolls-Royce

Group

plc

9,040,333

1,349,005

Sage

Group

plc

11,243,593

874,317

Schroders

plc

3,925,688

1,361,735

Scottish

&

Southern

Energy

plc

24,335,399

1,500,945

Segro

plc

13,508,503

320,849

Severn

Trent

plc

9,208,274

1,131,193

Smith

&

Nephew

plc

13,367,196

466,815

Smiths

Group

plc

8,361,842

90,827

Spirax-Sarco

Engineering

plc

11,192,928

679,276

St.

James's

Place

plc

8,295,010

3,204,339

Standard

Chartered

plc

19,145,080

2,662,178

Standard

Life

Aberdeen

plc

4,850,966

4,386,426

Taylor

Wimpey

plc

4,715,969

9,634,924

Tesco

plc

23,797,111

3,262,754

Unilever

plc

148,306,327

890,223

United

Utilities

Group

plc

9,593,213

34,044,653

Vodafone

Group

plc

39,743,788

252,947

Whitbread

plc

7,444,759

1,389,370

WPP

plc

12,226,659

TOTAL

UNITED

KINGDOM

1,983,980,164

UNITED

STATES

-

.8

%

683,905

Computershare

Ltd

11,071,081

617,344

CSL

Ltd

110,514,085

52,941

\*

CyberArk

Software

Ltd

8,306,972

279,434

Ferguson

plc

30,474,700

5,215,383

GSK

plc

85,433,602

553,113

James

Hardie

Industries

NV

12,076,106

3,581,522

Nestle

S.A.

389,880,193

293,043

\*

QIAGEN

NV

12,654,518

34,562

Roche

Holding

AG.

14,028,373

894,728

Roche

Holding

AG.

296,869,070

693,429

Schneider

Electric

S.A.

87,688,470

2,842,562

Stellantis

NV

38,350,614

385,469

Swiss

Re

Ltd

28,634,472

612,597

Tenaris

S.A.

9,587,844

TOTAL

UNITED

STATES

1,135,570,100

TOTAL

COMMON

STOCKS

16,435,079,485

(Cost

$16,900,375,327)

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

2.0%

GOVERNMENT

AGENCY

DEBT

-

.6

%

$

10,000,000

Federal

Home

Loan

Bank

(FHLB)

.000

%

11/01/22

10,000,000

8,750,000

FHLB

.000

11/02/22

8,749,081

27,750,000

FHLB

.000

11/03/22

27,744,281

20,000,000

FHLB

.000

12/16/22

19,903,145

27,640,000

FHLB

.000

12/21/22

27,491,314

6,000,000

FHLB

.000

11/04/22

5,998,145

TOTAL

GOVERNMENT

AGENCY

DEBT

99,885,966

Portfolio

of

investments

International

Equity

Index

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

See

notes

to

financial

statements

concluded

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

REPURCHASE

AGREEMENT

-

.4

%

$

67,100,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

%

11/01/22

$

67,100,000

TOTAL

REPURCHASE

AGREEMENT

67,100,000

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.0

%

156,184,198

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

156,184,198

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

156,184,198

TOTAL

SHORT-TERM

INVESTMENTS

323,170,164

(Cost

$323,191,270)

TOTAL

INVESTMENTS

-

100.2%

16,758,249,649

(Cost

$17,223,566,597)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(0.2)%

(25,580,281)

NET

ASSETS

-

100.0%

$

16,732,669,368

ADR

American

Depositary

Receipt

REIT

Real

Estate

Investment

Trust

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$232,842,524.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$67,100,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.750%

and

maturity

date

5/15/25,

valued

at

$68,442,034.

Futures

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Description

Number

of

long

(short)

contracts

Expiration

date

Notional

amount

Value

Unrealized

appreciation

(depreciation)

MSCI

EAFE

Index

2,315

12/16/22

$

198,721,124

$

203,245,425

$

4,524,301

TIAA-CREF

Funds

October

31,

2022

Statements

of

assets

and

liabilities

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

4.1 Equity

Index

Fund

4.2 Large-Cap

Growth

Index

Fund

4.3 Large-Cap

Value

Index

Fund

ASSETS

Portfolio

investments,

at

value

\*†

$

33,150,641,087

$

8,913,878,000

$

7,978,640,649

Cash

–

4,660

–

Cash

-

foreign

^

–

–

–

Receivable

from

securities

transactions

166,049,813

18,418,352

6,425,376

Receivable

from

Fund

shares

sold

1,483,382

4,037,144

1,845,486

Dividends

and

interest

receivable

24,216,975

4,773,931

7,774,912

Due

from

affiliates

707,320

1,966

1,458

Receivable

for

variation

margin

on

open

futures

contracts

2,177,371

–

–

Other

775,867

246,556

241,082

Total

assets

33,346,051,815

8,941,360,609

7,994,928,963

LIABILITIES

Management

fees

payable

1,072,258

294,094

256,642

Service

agreement

fees

payable

134,689

171,581

251,831

Distribution

fees

payable

257,118

–

–

Due

to

affiliates

44,317

15,622

14,174

Overdraft

payable

3,988,490

–

3,798,317

Payable

for

collateral

for

securities

loaned

231,212,889

24,413,256

22,144,655

Payable

for

securities

transactions

–

2,332,470

3,190,461

Payable

for

delayed

delivery

securities

–

–

–

Payable

for

Fund

shares

redeemed

332,894,578

7,935,990

8,229,421

Payable

for

variation

margin

on

futures

contracts

–

–

–

Payable

for

trustee

compensation

731,434

226,332

232,984

Accrued

expenses

and

other

payables

670,337

122,776

106,379

Total

liabilities

571,006,110

35,512,121

38,224,864

NET

ASSETS

$

32,775,045,705

$

8,905,848,488

$

7,956,704,099

NET

ASSETS

CONSIST

OF:

Paid-in-capital

$

18,700,432,799

$

3,832,377,123

$

5,864,580,985

Total

distributable

earnings

(loss)

14,074,612,906

5,073,471,365

2,092,123,114

NET

ASSETS

$

32,775,045,705

$

8,905,848,488

$

7,956,704,099

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

4.4 S&P

500

Index

Fund

4.5 Small-Cap

Blend

Index

Fund

4.6 Emerging

Markets

Equity

Index

Fund

4.7 International

Equity

Index

Fund

$

6,844,915,292

$

3,478,519,685

$

4,559,127,901

$

16,758,249,649

2,492,903

–

3,999,550

1,313,814

–

–

732,170

1,202,352

7,542,580

469,846

155,738

5,790,749

2,270,074

549,697

20,840,411

54,142,425

5,257,869

1,446,958

3,684,296

76,004,192

814

–

507,874

307,158

1,819,667

1,201,893

–

4,529,116

241,361

134,682

105,984

696,354

6,864,540,560

3,482,322,761

4,589,153,924

16,902,235,809

221,950

106,521

392,775

548,095

385,601

157,569

97,368

249,487

–

–

6,294

16,936

12,773

7,920

12,498

25,131

–

341,663

–

–

4,174,122

175,032,594

7,347,100

156,184,198

4,428,972

866,306

160,118

1,673,629

–

–

16,788

–

1,246,326

2,523,823

8,734,000

9,725,416

–

–

1,863,508

–

234,169

131,220

83,132

485,878

75,828

74,936

22,146,535

657,671

10,779,741

179,242,552

40,860,116

169,566,441

$

6,853,760,819

$

3,303,080,209

$

4,548,293,808

$

16,732,669,368

$

3,289,036,103

$

2,634,513,961

$

5,580,735,839

$

17,576,915,069

3,564,724,716

668,566,248

(1,032,442,031)

(844,245,701)

$

6,853,760,819

$

3,303,080,209

$

4,548,293,808

$

16,732,669,368

Statements

of

assets

and

liabilities

TIAA-CREF

Funds

October

31,

2022

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

continued

continued

4.1 Equity

Index

Fund

4.2 Large-Cap

Growth

Index

Fund

4.3 Large-Cap

Value

Index

Fund

INSTITUTIONAL

CLASS:

Net

assets

$

11,632,071,699

$

8,034,639,396

$

6,667,880,377

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

416,952,877

189,349,237

299,208,350

Net

asset

value

per

share

$

.90

$

.43

$

.29

ADVISOR

CLASS:

Net

assets

$

11,340,618

$

84,495,322

$

17,967,215

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

406,704

1,995,469

807,907

Net

asset

value

per

share

$

.88

$

.34

$

.24

PREMIER

CLASS:

Net

assets

$

54,969,043

$

–

$

–

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

1,976,749

–

–

Net

asset

value

per

share

$

.81

$

–

$

–

RETIREMENT

CLASS:

Net

assets

$

651,723,134

$

757,261,825

$

1,233,751,334

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

23,038,944

17,733,849

54,395,663

Net

asset

value

per

share

$

.29

$

.70

$

.68

RETAIL

CLASS:

Net

assets

$

1,231,299,814

$

–

$

–

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

43,369,758

–

–

Net

asset

value

per

share

$

.39

$

–

$

–

CLASS

W:

Net

assets

$

19,193,641,397

$

29,451,945

$

37,105,173

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

687,604,723

724,994

1,664,540

Net

asset

value

per

share

$

.91

$

.62

$

.29

\*

Includes

securities

loaned

of

$

266,030,201

$

27,079,303

$

28,982,453

†

Portfolio

investments,

cost

$

19,173,613,754

$

4,589,757,685

$

6,069,541,732

^

Foreign

cash,

cost

$

–

$

–

$

–

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

concluded

4.4 S&P

500

Index

Fund

4.5 Small-Cap

Blend

Index

Fund

4.6 Emerging

Markets

Equity

Index

Fund

4.7 International

Equity

Index

Fund

$

4,933,067,987

$

2,548,375,768

$

1,010,505,064

$

8,366,604,266

115,072,184

119,408,331

113,384,264

475,393,993

$

.87

$

.34

$

.91

$

.60

$

114,843,102

$

12,338,270

$

6,895,462

$

135,488,457

2,685,483

579,608

772,317

7,714,090

$

.76

$

.29

$

.93

$

.56

$

–

$

–

$

22,112,895

$

138,008,553

–

–

2,489,163

7,863,802

$

–

$

–

$

.88

$

.55

$

1,784,833,866

$

742,366,171

$

438,985,660

$

1,025,582,731

42,006,574

34,671,686

49,566,013

56,968,801

$

.49

$

.41

$

.86

$

.00

$

–

$

–

$

16,002,189

$

–

–

–

1,804,168

–

$

–

$

–

$

.87

$

–

$

21,015,864

$

–

$

3,053,792,538

$

7,066,985,361

490,070

–

341,715,135

401,269,556

$

.88

$

–

$

.94

$

.61

$

4,313,106

$

205,568,720

$

32,362,752

$

232,842,524

$

3,313,802,927

$

2,760,456,119

$

5,070,006,654

$

17,223,566,597

$

–

$

–

$

738,182

$

1,214,580

TIAA-CREF

Funds

For

the

year

ended

October

31,

2022

Statements

of

operations

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

4.1 Equity

Index

Fund

4.2 Large-Cap

Growth

Index

Fund

4.3 Large-Cap

Value

Index

Fund

INVESTMENT

INCOME

Dividends\*

$

497,774,388

$

86,689,572

$

180,073,659

Income

from

securities

lending,

net

4,987,915

539,387

632,142

Interest\*

1,821,136

73,911

16,201

Total

income

504,583,439

87,302,870

180,722,002

EXPENSES

Management

fees

13,445,083

3,931,794

3,398,113

Shareholder

servicing

—

Institutional

Class

20,452

25,401

18,395

Shareholder

servicing

—

Advisor

Class

18,567

71,068

27,431

Shareholder

servicing

—

Premier

Class

–

–

Shareholder

servicing

—

Retirement

Class

1,831,543

2,235,474

3,210,843

Shareholder

servicing

—

Retail

Class

358,690

–

–

Shareholder

servicing

—

Class

W

13,558

Distribution

fees

—

Premier

Class

88,288

–

–

Distribution

fees

—

Retail

Class

3,375,409

–

–

Miscellaneous

expenses

712,402

100,250

95,583

Administrative

service

fees

480,987

172,279

157,636

Trustee

fees

and

expenses

411,966

125,478

104,318

Custody

and

accounting

fees

221,769

26,844

70,263

Other

expenses

327,920

499,958

334,915

Total

expenses

21,306,737

7,188,706

7,417,664

Less:

Expenses

reimbursed

by

the

investment

adviser

(8,760,339)

(32,413)

(17,013)

Less:

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

(636,266)

–

–

Net

expenses

11,910,132

7,156,293

7,400,651

Net

investment

income

(loss)

492,673,307

80,146,577

173,321,351

NET

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

ON

TOTAL

INVESTMENTS

Realized

gain

(loss):

Portfolio

investments†

(40,874,638)

832,290,875

182,522,000

Futures

contracts

(15,451,667)

–

–

Foreign

currency

transactions

–

–

–

In-kind

redemptions

–

–

–

Net

realized

gain

(loss)

on

total

investments

(56,326,305)

832,290,875

182,522,000

Change

in

unrealized

appreciation

(depreciation)

on:

Portfolio

investments

‡

(6,343,183,582)

(3,617,474,536)

(970,102,839)

Futures

contracts

1,500,378

–

–

Translation

of

assets

(other

than

portfolio

investments)

and

liabilities

denominated

in

foreign

currencies

–

–

–

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(6,341,683,204)

(3,617,474,536)

(970,102,839)

Net

realized

and

unrealized

gain

(loss)

on

total

investments

(6,398,009,509)

(2,785,183,661)

(787,580,839)

Net

increase

(decrease)

in

net

assets

from

operations

$

(5,905,336,202)

$

(2,705,037,084)

$

(614,259,488)

\*

Net

of

foreign

withholding

taxes

of

$

136,564

$

15,812

$

47,807

†

Includes

net

realized

gain

(loss)

from

securities

sold

to

affiliates

of

$

137,691

$

1,387,126

$

609,827

‡

Includes

net

change

in

unrealized

foreign

capital

gains

taxes

$

–

$

–

$

–

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

concluded

4.4 S&P

500

Index

Fund

4.5 Small-Cap

Blend

Index

Fund

4.6 Emerging

Markets

Equity

Index

Fund

4.7 International

Equity

Index

Fund

$

113,348,025

$

49,396,842

$

152,318,201

$

558,960,357

45,811

4,854,259

974,783

3,084,729

654,385

121,454

915,109

2,382,711

114,048,221

54,372,555

154,208,093

564,427,797

2,994,822

1,515,145

5,764,611

7,060,053

6,838

12,947

2,282

26,434

162,318

85,379

9,352

169,833

–

–

4,785,801

2,164,789

1,289,980

2,990,651

–

–

18,990

–

–

2,750

5,393

–

–

38,787

239,617

–

–

49,366

–

92,086

49,641

292,051

568,216

145,066

89,723

138,379

278,759

92,249

47,218

60,894

215,546

57,940

53,719

2,770,507

881,534

186,035

365,548

250,662

274,243

8,523,312

4,384,109

10,688,685

12,710,505

(10,208)

(64,431)

(6,036,643)

(3,659,350)

–

–

(5,395)

–

8,513,104

4,319,678

4,646,647

9,051,155

105,535,117

50,052,877

149,561,446

555,376,642

36,422,004

(27,521,744)

(239,463,022)

(136,907,030)

(10,614,225)

(2,053,974)

(30,225,120)

(37,977,150)

–

–

(1,973,519)

(11,622,818)

440,709,074

–

–

–

466,516,853

(29,575,718)

(271,661,661)

(186,506,998)

(1,749,972,809)

(865,711,105)

(1,690,191,304)

(4,913,150,107)

880,630

1,201,432

(1,950,600)

(2,454,906)

–

–

(13,735)

(4,850,559)

(1,749,092,179)

(864,509,673)

(1,692,155,639)

(4,920,455,572)

(1,282,575,326)

(894,085,391)

(1,963,817,300)

(5,106,962,570)

$

(1,177,040,209)

$

(844,032,514)

$

(1,814,255,854)

$

(4,551,585,928)

$

25,289

$

45,316

$

17,467,010

$

47,663,805

$

(101,813)

$

(249,211)

$

(5,241,902)

$

(1,257,034)

$

–

$

–

$

1,792,908

$

–

TIAA-CREF

Funds

For

the

year

ended

Statements

of

changes

in

net

assets

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

4.1 Equity

Index

Fund

4.2 Large-Cap

Growth

Index

Fund

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

OPERATIONS

Net

investment

income

(loss)

$

492,673,307

$

424,310,035

$

80,146,577

$

95,350,439

Net

realized

gain

(loss)

on

total

investments

(56,326,305)

1,177,037,828

832,290,875

935,402,848

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(6,341,683,204)

9,628,359,612

(3,617,474,536)

3,487,555,463

Net

increase

(decrease)

in

net

assets

from

operations

(5,905,336,202)

11,229,707,475

(2,705,037,084)

4,518,308,750

DISTRIBUTIONS

TO

SHAREHOLDERS

–

–

–

–

Institutional

Class

Institutional

Class

(258,288,260)

(158,023,347)

(822,082,470)

(164,805,321)

Advisor

Class

Advisor

Class

(603,572)

(147,386)

(6,760,565)

(1,310,526)

Premier

Class

Premier

Class

(1,389,770)

(770,802)

–

–

Retirement

Class

Retirement

Class

(15,200,952)

(8,514,237)

(86,458,639)

(16,232,509)

Retail

Class

Retail

Class

(26,852,902)

(14,418,739)

–

–

Class

W

Class

W

(433,748,939)

(250,943,860)

(3,658,788)

(49,891,625)

Total

distributions

(736,084,395)

(432,818,371)

(918,960,462)

(232,239,981)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

2,369,122,759

1,236,876,808

2,534,157,660

1,643,187,117

Advisor

Class

Advisor

Class

18,170,974

4,760,395

61,988,048

22,127,117

Premier

Class

Premier

Class

13,275,587

7,329,829

–

–

Retirement

Class

Retirement

Class

33,859,185

51,311,282

64,959,102

87,370,416

Retail

Class

Retail

Class

71,726,041

81,301,909

–

–

Class

W

Class

W

4,679,531,286

2,994,720,099

13,646,095

1,475,482,012

Reinvestments

of

distributions:

Institutional

Class

256,669,697

157,404,139

672,078,897

134,210,760

Advisor

Class

Advisor

Class

596,977

143,897

6,730,167

1,306,342

Premier

Class

Premier

Class

1,374,868

755,033

–

–

Retirement

Class

Retirement

Class

15,183,932

8,505,320

86,250,105

16,208,061

Retail

Class

Retail

Class

25,499,871

13,709,838

–

–

Class

W

Class

W

433,748,939

250,943,860

3,658,788

49,891,625

Redemptions:

Institutional

Class

(937,348,147)

(2,425,533,869)

(2,084,977,276)

(2,183,849,552)

Advisor

Class

Advisor

Class

(17,168,844)

(4,473,609)

(39,705,640)

(29,667,423)

Premier

Class

Premier

Class

(19,355,035)

(16,634,330)

–

–

Retirement

Class

Retirement

Class

(85,890,255)

(89,328,218)

(133,892,622)

(206,218,291)

Retail

Class

Retail

Class

(83,137,400)

(117,712,848)

–

–

Class

W

Class

W

(2,516,908,903)

(4,048,445,331)

(1,628,646,730)

(2,135,552,351)

Net

increase

(decrease)

from

shareholder

transactions

4,258,951,532

(1,894,365,796)

(443,753,406)

(1,125,504,167)

Net

increase

(decrease)

in

net

assets

(2,382,469,065)

8,902,523,308

(4,067,750,952)

3,160,564,602

NET

ASSETS

Beginning

of

period

35,157,514,770

26,254,991,462

12,973,599,440

9,813,034,838

End

of

period

$

32,775,045,705

$

35,157,514,770

$

8,905,848,488

$

12,973,599,440

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

78,129,383

40,283,550

52,747,383

31,570,256

Advisor

Class

Advisor

Class

533,419

167,316

1,332,736

427,566

Premier

Class

Premier

Class

442,800

246,250

–

–

Retirement

Class

Retirement

Class

1,086,900

1,707,662

1,333,997

1,667,596

Retail

Class

Retail

Class

2,281,184

2,655,383

–

–

Class

W

Class

W

158,535,172

98,678,925

315,540

31,054,910

Shares

reinvested:

Institutional

Class

7,600,524

5,819,007

11,641,762

2,826,680

Advisor

Class

Advisor

Class

17,667

5,316

116,722

27,537

Premier

Class

Premier

Class

40,785

27,964

–

–

Retirement

Class

Retirement

Class

442,422

309,509

1,481,451

338,656

Retail

Class

Retail

Class

740,415

497,274

–

–

Class

W

Class

W

12,840,407

9,277,037

66,234

1,050,350

Shares

redeemed:

Institutional

Class

(30,359,541)

(81,869,719)

(41,256,398)

(40,851,412)

Advisor

Class

Advisor

Class

(558,269)

(149,776)

(795,218)

(575,213)

Premier

Class

Premier

Class

(611,608)

(575,909)

–

–

Retirement

Class

Retirement

Class

(2,743,318)

(2,870,676)

(2,693,723)

(3,880,857)

Retail

Class

Retail

Class

(2,694,857)

(3,826,234)

–

–

Class

W

Class

W

(81,550,180)

(130,732,814)

(26,176,096)

(36,647,022)

Net

increase

(decrease)

from

shareholder

transactions

144,173,305

(60,349,935)

(1,885,610)

(12,990,953)

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

4.3 Large-Cap

Value

Index

Fund

4.4 S&P

500

Index

Fund

4.5 Small-Cap

Blend

Index

Fund

4.6 Emerging

Markets

Equity

Index

Fund

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

$

173,321,351

$

157,871,578

$

105,535,117

$

99,958,906

$

50,052,877

$

41,972,323

$

149,561,446

$

90,972,689

182,522,000

423,608,897

466,516,853

76,642,431

(29,575,718)

334,796,631

(271,661,661)

(25,549,707)

(970,102,839)

2,219,470,133

(1,749,092,179)

2,409,665,003

(864,509,673)

1,211,909,555

(1,692,155,639)

478,225,177

(614,259,488)

2,800,950,608

(1,177,040,209)

2,586,266,340

(844,032,514)

1,588,678,509

(1,814,255,854)

543,648,159

–

–

–

–

–

–

–

–

(285,369,193)

(147,209,703)

(113,461,817)

(78,758,573)

(284,581,304)

(79,088,443)

(25,559,211)

(21,408,760)

(561,502)

(288,876)

(2,242,071)

(1,669,528)

(1,363,379)

(283,311)

(115,225)

(48,204)

–

–

–

–

–

–

(571,822)

(541,547)

(44,781,956)

(18,932,616)

(33,383,568)

(23,413,254)

(84,129,222)

(24,143,020)

(10,903,950)

(9,215,401)

–

–

–

–

–

–

(431,554)

(317,009)

(1,378,187)

(776,527)

(432,616)

(333,650)

–

–

(83,067,648)

(53,173,723)

(332,090,838)

(167,207,722)

(149,520,072)

(104,175,005)

(370,073,905)

(103,514,774)

(120,649,410)

(84,704,644)

869,322,559

1,250,711,197

778,599,313

829,156,973

468,367,024

631,337,426

380,688,945

317,579,488

27,593,235

31,886,063

40,655,923

29,369,513

8,093,401

3,959,345

12,033,740

6,637,278

–

–

–

–

–

–

7,523,771

16,228,289

143,528,174

209,992,188

202,019,442

192,080,514

13,580,601

58,870,717

78,690,153

80,549,259

–

–

–

–

–

–

9,776,419

13,658,303

11,154,788

5,920,038

6,234,176

3,770,400

–

–

1,221,105,988

1,246,492,339

234,573,225

121,869,085

109,613,033

76,296,249

277,841,379

77,489,433

25,512,424

21,212,714

555,912

286,145

2,238,268

1,666,946

1,349,807

279,613

111,880

45,300

–

–

–

–

–

–

571,821

538,664

44,734,272

18,914,001

33,383,169

23,413,254

84,129,222

24,143,020

10,903,950

9,215,401

–

–

–

–

–

–

417,108

303,632

1,378,187

776,527

432,615

333,649

–

–

83,067,648

53,173,723

(1,323,182,983)

(1,547,113,521)

(1,307,082,778)

(830,215,078)

(821,110,549)

(573,642,465)

(122,934,038)

(218,575,444)

(23,938,694)

(31,935,577)

(39,942,377)

(40,437,698)

(6,166,229)

(3,508,307)

(7,307,306)

(5,085,919)

–

–

–

–

–

–

(4,543,040)

(16,854,692)

(91,073,631)

(113,412,433)

(216,344,001)

(243,936,262)

(170,474,163)

(151,499,314)

(8,233,923)

(17,521,844)

–

–

–

–

–

–

(9,957,974)

(7,556,287)

(9,051,285)

(11,230,494)

(5,933,607)

(6,825,026)

–

–

(349,589,735)

(328,351,351)

(114,406,241)

(63,336,781)

(396,126,824)

34,673,434

(144,389,507)

67,429,468

1,327,837,831

1,171,688,853

(1,060,756,567)

2,570,406,105

(1,722,687,105)

2,516,764,769

(1,358,495,926)

1,552,593,203

(607,067,433)

1,630,632,368

9,017,460,666

6,447,054,561

8,576,447,924

6,059,683,155

4,661,576,135

3,108,982,932

5,155,361,241

3,524,728,873

$

7,956,704,099

$

9,017,460,666

$

6,853,760,819

$

8,576,447,924

$

3,303,080,209

$

4,661,576,135

$

4,548,293,808

$

5,155,361,241

37,370,949

55,541,291

16,699,412

18,387,843

21,043,441

23,713,918

34,158,831

23,483,583

1,164,664

1,475,658

864,558

657,102

320,919

148,140

1,111,777

474,683

–

–

–

–

–

–

692,614

1,193,894

5,896,557

8,936,082

4,408,706

4,470,390

583,237

2,201,634

7,019,234

5,922,402

–

–

–

–

–

–

846,910

995,572

494,486

265,415

139,607

84,877

–

–

110,291,585

92,725,827

9,773,885

6,060,124

2,129,649

1,898,861

11,012,341

3,290,422

2,005,694

1,639,313

23,192

14,250

43,546

41,528

53,564

11,883

8,768

3,487

–

–

–

–

–

–

45,061

41,692

1,827,380

922,634

653,035

586,357

3,316,091

1,019,984

860,612

714,926

–

–

–

–

–

–

32,869

23,519

57,448

38,614

8,407

8,304

–

–

6,525,345

4,106,079

(56,704,292)

(68,050,885)

(27,227,637)

(18,586,822)

(37,126,947)

(21,220,655)

(11,075,026)

(16,029,225)

(1,032,920)

(1,351,537)

(858,802)

(917,296)

(278,545)

(130,838)

(673,308)

(363,316)

–

–

–

–

–

–

(415,930)

(1,241,451)

(3,864,630)

(4,896,829)

(4,646,288)

(5,349,704)

(7,495,204)

(5,539,506)

(723,921)

(1,289,250)

–

–

–

–

–

–

(851,890)

(556,465)

(389,081)

(492,633)

(126,836)

(149,897)

–

–

(30,465,134)

(24,206,932)

(5,382,362)

(1,537,816)

(7,912,643)

1,131,543

(8,571,103)

3,494,982

119,394,091

87,638,338

Statements

of

changes

in

net

assets

TIAA-CREF

Funds

For

the

year

ended

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

concluded

4.7 International

Equity

Index

Fund

October

31,

2022

October

31,

2021

OPERATIONS

Net

investment

income

(loss)

$

555,376,642

$

451,690,299

Net

realized

gain

(loss)

on

total

investments

(186,506,998)

364,723,141

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(4,920,455,572)

3,690,882,298

Net

increase

(decrease)

in

net

assets

from

operations

(4,551,585,928)

4,507,295,738

DISTRIBUTIONS

TO

SHAREHOLDERS

–

–

Institutional

Class

Institutional

Class

(290,285,530)

(179,887,061)

Advisor

Class

Advisor

Class

(4,484,401)

(2,504,669)

Premier

Class

Premier

Class

(5,262,544)

(4,375,400)

Retirement

Class

Retirement

Class

(36,894,510)

(22,985,372)

Class

W

Class

W

(229,171,714)

(99,167,970)

Total

distributions

(566,098,699)

(308,920,472)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

1,551,243,650

1,587,283,373

Advisor

Class

Advisor

Class

36,955,617

29,895,347

Premier

Class

Premier

Class

31,009,788

38,691,400

Retirement

Class

Retirement

Class

75,744,533

71,431,787

Class

W

Class

W

2,071,159,886

2,314,524,808

Reinvestments

of

distributions:

Institutional

Class

280,101,957

174,854,263

Advisor

Class

Advisor

Class

4,480,152

2,501,793

Premier

Class

Premier

Class

5,262,544

4,375,400

Retirement

Class

Retirement

Class

36,894,510

22,985,372

Class

W

Class

W

229,171,714

99,167,970

Redemptions:

Institutional

Class

(631,430,288)

(2,009,409,741)

Advisor

Class

Advisor

Class

(19,992,859)

(23,731,150)

Premier

Class

Premier

Class

(88,620,537)

(71,135,246)

Retirement

Class

Retirement

Class

(149,421,168)

(182,454,437)

Class

W

Class

W

(528,645,411)

(728,786,086)

Net

increase

(decrease)

from

shareholder

transactions

2,903,914,088

1,330,194,853

Net

increase

(decrease)

in

net

assets

(2,213,770,539)

5,528,570,119

NET

ASSETS

Beginning

of

period

18,946,439,907

13,417,869,788

End

of

period

$

16,732,669,368

$

18,946,439,907

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

78,011,912

70,128,728

Advisor

Class

Advisor

Class

1,848,016

1,345,182

Premier

Class

Premier

Class

1,538,185

1,759,341

Retirement

Class

Retirement

Class

3,714,077

3,171,050

Class

W

Class

W

104,484,644

101,475,512

Shares

reinvested:

Institutional

Class

12,443,445

8,471,621

Advisor

Class

Advisor

Class

199,207

121,329

Premier

Class

Premier

Class

234,099

212,398

Retirement

Class

Retirement

Class

1,598,549

1,087,293

Class

W

Class

W

10,180,885

4,804,650

Shares

redeemed:

Institutional

Class

(30,408,791)

(91,376,088)

Advisor

Class

Advisor

Class

(998,584)

(1,056,312)

Premier

Class

Premier

Class

(3,944,841)

(3,199,177)

Retirement

Class

Retirement

Class

(6,896,911)

(7,942,758)

Class

W

Class

W

(25,605,321)

(33,136,821)

Net

increase

(decrease)

from

shareholder

transactions

146,398,571

55,865,948

TIAA-CREF

Funds

Financial

highlights

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

4.1 EQUITY

INDEX

FUND

Institutional

Class:

10/31/22

$

.12

$

.44

$

(5

.95)

$

(5

.51)

$

(0

.41)

$

(0

.30)

$

(0

.71)

$

.90

10/31/21

.07

.39

.06

.45

(0

.40)

—

(0

.40)

.12

10/31/20

.31

.39

.84

.23

(0

.42)

(0

.05)

(0

.47)

.07

10/31/19

.12

.43

.20

.63

(0

.37)

(0

.07)

(0

.44)

.31

10/31/18

.31

.38

.86

.24

(0

.33)

(0

.10)

(0

.43)

.12

Advisor

Class:

10/31/22

.11

.41

(5

.95)

(5

.54)

(0

.39)

(0

.30)

(0

.69)

.88

10/31/21

.05

.35

.06

.41

(0

.35)

—

(0

.35)

.11

10/31/20

.29

.40

.80

.20

(0

.39)

(0

.05)

(0

.44)

.05

10/31/19

.12

.40

.19

.59

(0

.35)

(0

.07)

(0

.42)

.29

10/31/18

.30

.33

.90

.23

(0

.31)

(0

.10)

(0

.41)

.12

Premier

Class:

10/31/22

.01

.39

(5

.93)

(5

.54)

(0

.36)

(0

.30)

(0

.66)

.81

10/31/21

.99

.35

.03

.38

(0

.36)

—

(0

.36)

.01

10/31/20

.24

.35

.83

.18

(0

.38)

(0

.05)

(0

.43)

.99

10/31/19

.05

.40

.19

.59

(0

.33)

(0

.07)

(0

.40)

.24

10/31/18

.25

.34

.87

.21

(0

.31)

(0

.10)

(0

.41)

.05

Retirement

Class:

10/31/22

.59

.37

(6

.04)

(5

.67)

(0

.33)

(0

.30)

(0

.63)

.29

10/31/21

.40

.32

.21

.53

(0

.34)

—

(0

.34)

.59

10/31/20

.62

.34

.85

.19

(0

.36)

(0

.05)

(0

.41)

.40

10/31/19

.39

.38

.24

.62

(0

.32)

(0

.07)

(0

.39)

.62

10/31/18

.56

.32

.90

.22

(0

.29)

(0

.10)

(0

.39)

.39

Retail

Class:

10/31/22

.70

.38

(6

.07)

(5

.69)

(0

.32)

(0

.30)

(0

.62)

.39

10/31/21

.48

.32

.23

.55

(0

.33)

—

(0

.33)

.70

10/31/20

.69

.33

.86

.19

(0

.35)

(0

.05)

(0

.40)

.48

10/31/19

.45

.38

.24

.62

(0

.31)

(0

.07)

(0

.38)

.69

10/31/18

.62

.32

.89

.21

(0

.28)

(0

.10)

(0

.38)

.45

Class

W:

10/31/22

.13

.45

(5

.94)

(5

.49)

(0

.43)

(0

.30)

(0

.73)

.91

10/31/21

.08

.41

.05

.46

(0

.41)

—

(0

.41)

.13

10/31/20

.32

.39

.85

.24

(0

.43)

(0

.05)

(0

.48)

.08

10/31/19

.13

.44

.19

.63

(0

.37)

(0

.07)

(0

.44)

.32

10/31/18

†

.72

.01

(1

.60)

(1

.59)

—

—

—

.13

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(16

.50)

%

$

11,632,072

.05

%

.05

%

.46

%

%

.84

12,335,597

.05

.05

.30

f

.10

9,563,188

.05

.05

.69

f

.47

9,034,344

.05

.05

.08

.52

8,106,985

.05

.05

.87

f

(16

.59)

11,341

.15

.15

.33

.66

14,119

.17

.17

.16

f

.97

9,404

.17

.17

.71

f

.26

49,888

.19

.19

.93

.44

35,041

.19

.19

.61

f

(16

.62)

54,969

.20

.20

.30

.64

71,581

.20

.20

.15

f

.92

57,737

.20

.20

.55

f

.28

63,211

.20

.20

.92

.36

86,396

.20

.20

.68

f

(16

.71)

651,723

.30

.30

.20

.50

838,804

.30

.30

.05

f

.79

612,612

.30

.30

.45

f

.18

662,900

.30

.30

.83

.29

568,207

.30

.30

.56

f

(16

.70)

1,231,300

.32

.28

.22

.45

1,493,507

.32

.32

.02

f

.77

1,070,150

.33

.33

.41

f

.15

1,028,244

.33

.33

.80

.24

954,571

.33

.33

.53

f

(16

.46)

19,193,641

.05

0.00 1

.50

.88

20,403,908

.05

0.00 1

.34

f

.14

14,941,901

.05

0.00 1

.71

f

.48

11,566,892

.05

0.00 2

.13

(7

.32)

b

7,873,593

.04

c

0.00 c

.55

c

f

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

4.2 LARGE-CAP

GROWTH

INDEX

FUND

Institutional

Class:

10/31/22

$

.25

$

.41

$

(14

.17)

$

(13

.76)

$

(0

.50)

$

(4

.56)

$

(5

.06)

$

.43

10/31/21

.65

.39

.15

.54

(0

.35)

(0

.59)

(0

.94)

.25

10/31/20

.63

.39

.50

.89

(0

.40)

(0

.47)

(0

.87)

.65

10/31/19

.73

.41

.59

.00

(0

.39)

(0

.71)

(1

.10)

.63

10/31/18

.30

.39

.59

.98

(0

.35)

(0

.20)

(0

.55)

.73

Advisor

Class:

10/31/22

.13

.35

(14

.14)

(13

.79)

(0

.44)

(4

.56)

(5

.00)

.34

10/31/21

.57

.32

.12

.44

(0

.29)

(0

.59)

(0

.88)

.13

10/31/20

.57

.33

.50

.83

(0

.36)

(0

.47)

(0

.83)

.57

10/31/19

.68

.37

.59

.96

(0

.36)

(0

.71)

(1

.07)

.57

10/31/18

.27

.35

.58

.93

(0

.32)

(0

.20)

(0

.52)

.68

Retirement

Class:

10/31/22

.61

.29

(14

.28)

(13

.99)

(0

.36)

(4

.56)

(4

.92)

.70

10/31/21

.91

.26

.27

.53

(0

.24)

(0

.59)

(0

.83)

.61

10/31/20

.83

.29

.57

.86

(0

.31)

(0

.47)

(0

.78)

.91

10/31/19

.89

.33

.63

.96

(0

.31)

(0

.71)

(1

.02)

.83

10/31/18

.46

.32

.60

.92

(0

.29)

(0

.20)

(0

.49)

.89

Class

W:

10/31/22

.30

.50

(13

.57)

(13

.07)

(3

.05)

(4

.56)

(7

.61)

.62

10/31/21

.67

.41

.16

.57

(0

.35)

(0

.59)

(0

.94)

.30

10/31/20

.63

.28

.63

.91

(0

.40)

(0

.47)

(0

.87)

.67

10/31/19

†

.68

.02

.93

.95

—

—

—

.63

†

Class

W

commenced

operations

on

September

30,

2019. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(24

.65)

%

$

8,034,639

.05

%

.05

%

.84

%

%

.11

10,180,858

.05

.05

.73

.14

7,537,182

.05

.05

.00

f

.03

6,833,846

.05

.05

.28

.67

5,375,762

.05

.05

.28

(24

.73)

84,495

.16

.16

.72

.93

81,993

.17

.17

.61

.00

63,667

.18

.18

.86

f

.90

49,158

.18

.18

.16

.49

40,368

.19

.19

.13

(24

.84)

757,262

.30

.30

.58

.77

1,085,055

.30

.30

.48

.84

855,735

.30

.30

.74

f

.75

688,063

.30

.30

.05

.37

705,970

.30

.30

.03

(24

.60)

29,452

.05

0.00 0

.76

.17

1,625,694

.05

0.00 0

.77

.22

1,356,450

.05

0.00 0

.71

f

.82

b

21,390

.15

c

0.00 c

.79

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

4.3 LARGE-CAP

VALUE

INDEX

FUND

Institutional

Class:

10/31/22

$

.89

$

.48

$

(2

.16)

$

(1

.68)

$

(0

.45)

$

(0

.47)

$

(0

.92)

$

.29

10/31/21

.72

.44

.19

.63

(0

.46)

—

(0

.46)

.89

10/31/20

.54

.46

(1

.85)

(1

.39)

(0

.57)

(0

.86)

(1

.43)

.72

10/31/19

.30

.57

.47

.04

(0

.49)

(0

.31)

(0

.80)

.54

10/31/18

.58

.49

.09

.58

(0

.47)

(0

.39)

(0

.86)

.30

Advisor

Class:

10/31/22

.82

.44

(2

.14)

(1

.70)

(0

.41)

(0

.47)

(0

.88)

.24

10/31/21

.67

.36

.22

.58

(0

.43)

—

(0

.43)

.82

10/31/20

.49

.48

(1

.90)

(1

.42)

(0

.54)

(0

.86)

(1

.40)

.67

10/31/19

.26

.55

.46

.01

(0

.47)

(0

.31)

(0

.78)

.49

10/31/18

.56

.46

.08

.54

(0

.45)

(0

.39)

(0

.84)

.26

Retirement

Class:

10/31/22

.32

.43

(2

.20)

(1

.77)

(0

.40)

(0

.47)

(0

.87)

.68

10/31/21

.03

.39

.32

.71

(0

.42)

—

(0

.42)

.32

10/31/20

.87

.42

(1

.88)

(1

.46)

(0

.52)

(0

.86)

(1

.38)

.03

10/31/19

.59

.53

.50

.03

(0

.44)

(0

.31)

(0

.75)

.87

10/31/18

.87

.45

.09

.54

(0

.43)

(0

.39)

(0

.82)

.59

Class

W:

10/31/22

.90

.49

(2

.16)

(1

.67)

(0

.47)

(0

.47)

(0

.94)

.29

10/31/21

.73

.45

.19

.64

(0

.47)

—

(0

.47)

.90

10/31/20

.54

.47

(1

.85)

(1

.38)

(0

.57)

(0

.86)

(1

.43)

.73

10/31/19

†

.26

.08

.20

.28

—

—

—

.54

†

Class

W

commenced

operations

on

September

30,

2019. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(6

.99)

%

$

6,667,880

.05

%

.05

%

.08

%

%

.69

7,684,426

.05

.05

.93

(7

.51)

5,586,461

.05

.05

.52

f

.13

5,973,386

.05

.05

.97

.97

5,482,154

.05

.05

.49

(7

.11)

17,967

.19

.19

.92

.47

16,207

.19

.19

.60

(7

.63)

9,094

.19

.19

.54

f

.00

31,051

.19

.19

.85

.77

8,505

.19

.19

.34

(7

.25)

1,233,751

.30

.30

.83

.28

1,279,443

.30

.30

.67

(7

.71)

821,535

.30

.30

.29

f

.85

877,423

.30

.30

.71

.68

865,369

.30

.30

.25

(6

.98)

37,105

.05

0.00 2

.13

.73

37,385

.05

0.00 1

.98

(7

.45)

29,964

.05

0.00 2

.57

f

.38

b

28,293

.12

c

0.00 c

.13

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

4.4 S&P

500

INDEX

FUND

Institutional

Class:

10/31/22

$

.11

$

.69

$

(8

.00)

$

(7

.31)

$

(0

.64)

$

(0

.29)

$

(0

.93)

$

.87

10/31/21

.35

.62

.77

.39

(0

.63)

—

(0

.63)

.11

10/31/20

.88

.62

.61

.23

(0

.66)

(0

.10)

(0

.76)

.35

10/31/19

.48

.68

.53

.21

(0

.59)

(0

.22)

(0

.81)

.88

10/31/18

.04

.57

.52

.09

(0

.54)

(0

.11)

(0

.65)

.48

Advisor

Class:

10/31/22

.99

.63

(8

.00)

(7

.37)

(0

.57)

(0

.29)

(0

.86)

.76

10/31/21

.27

.56

.74

.30

(0

.58)

—

(0

.58)

.99

10/31/20

.82

.57

.61

.18

(0

.63)

(0

.10)

(0

.73)

.27

10/31/19

.43

.64

.52

.16

(0

.55)

(0

.22)

(0

.77)

.82

10/31/18

.01

.52

.52

.04

(0

.51)

(0

.11)

(0

.62)

.43

Retirement

Class:

10/31/22

.67

.57

(7

.94)

(7

.37)

(0

.52)

(0

.29)

(0

.81)

.49

10/31/21

.06

.51

.64

.15

(0

.54)

—

(0

.54)

.67

10/31/20

.62

.53

.60

.13

(0

.59)

(0

.10)

(0

.69)

.06

10/31/19

.24

.60

.51

.11

(0

.51)

(0

.22)

(0

.73)

.62

10/31/18

.83

.49

.50

.99

(0

.47)

(0

.11)

(0

.58)

.24

Class

W:

10/31/22

.13

.71

(8

.01)

(7

.30)

(0

.66)

(0

.29)

(0

.95)

.88

10/31/21

.36

.64

.78

.42

(0

.65)

—

(0

.65)

.13

10/31/20

.88

.63

.62

.25

(0

.67)

(0

.10)

(0

.77)

.36

10/31/19

†

.16

.10

.62

.72

—

—

—

.88

†

Class

W

commenced

operations

on

September

30,

2019. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(14

.62)

%

$

4,933,068

.05

%

.05

%

.47

%

%

.82

6,310,496

.05

.05

.38

f

.67

4,426,743

.05

.05

.78

.27

4,038,596

.05

.05

.17

.26

3,533,305

.05

.05

.87

(14

.74)

114,843

.18

.18

.35

.63

134,424

.18

.18

.25

f

.51

103,558

.18

.18

.65

.12

88,735

.19

.19

.05

.12

44,964

.20

.20

.70

(14

.83)

1,784,834

.30

.30

.23

.43

2,107,555

.30

.30

.13

f

.41

1,510,268

.30

.30

.53

.01

1,366,911

.30

.30

.92

.97

1,196,818

.30

.30

.62

(14

.59)

21,016

.05

0.00 1

.52

.90

23,973

.05

0.00 1

.43

f

.72

19,113

.04

0.00 1

.83

.17

b

17,484

.16

c

0.00 c

.34

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

4.5 SMALL-CAP

BLEND

INDEX

FUND

Institutional

Class:

10/31/22

$

.54

$

.32

$

(5

.22)

$

(4

.90)

$

(0

.32)

$

(1

.98)

$

(2

.30)

$

.34

10/31/21

.45

.27

.47

.74

(0

.26)

(0

.39)

(0

.65)

.54

10/31/20

.46

.22

(0

.15)

.07

(0

.29)

(0

.79)

(1

.08)

.45

10/31/19

.18

.31

.59

.90

(0

.28)

(1

.34)

(1

.62)

.46

10/31/18

.02

.31

.12

.43

(0

.31)

(0

.96)

(1

.27)

.18

Advisor

Class:

10/31/22

.48

.28

(5

.20)

(4

.92)

(0

.29)

(1

.98)

(2

.27)

.29

10/31/21

.41

.23

.46

.69

(0

.23)

(0

.39)

(0

.62)

.48

10/31/20

.43

.19

(0

.16)

.03

(0

.26)

(0

.79)

(1

.05)

.41

10/31/19

.15

.30

.57

.87

(0

.25)

(1

.34)

(1

.59)

.43

10/31/18

.00

.26

.14

.40

(0

.29)

(0

.96)

(1

.25)

.15

Retirement

Class:

10/31/22

.62

.26

(5

.24)

(4

.98)

(0

.25)

(1

.98)

(2

.23)

.41

10/31/21

.51

.20

.51

.71

(0

.21)

(0

.39)

(0

.60)

.62

10/31/20

.52

.17

(0

.15)

.02

(0

.24)

(0

.79)

(1

.03)

.51

10/31/19

.23

.26

.60

.86

(0

.23)

(1

.34)

(1

.57)

.52

10/31/18

.07

.25

.14

.39

(0

.27)

(0

.96)

(1

.23)

.23

a

Based

on

average

shares

outstanding.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(18

.42)

%

$

2,548,376

.06

%

.06

%

.38

%

%

.75

3,552,723

.05

.05

.00

.08

2,308,446

.06

.06

.16

f

.98

2,308,296

.06

.06

.58

.99

1,966,064

.06

.06

.38

(18

.53)

12,338

.67

.21

.22

.57

13,774

.76

.20

.85

(0

.11)

8,823

.08

.20

.01

f

.83

7,980

.84

.21

.52

.84

13,215

.42

.21

.13

(18

.63)

742,366

.31

.31

.12

.39

1,095,078

.30

.30

.75

(0

.16)

791,714

.30

.30

.92

f

.72

791,066

.31

.31

.33

.75

689,246

.31

.31

.12

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

4.6 EMERGING

MARKETS

EQUITY

INDEX

FUND

Institutional

Class:

10/31/22

$

.20

$

.32

$

(4

.32)

$

(4

.00)

$

(0

.29)

$

—

$

(0

.29)

$

.91

10/31/21

.64

.27

.56

.83

(0

.27)

—

(0

.27)

.20

10/31/20

.05

.23

.68

.91

(0

.32)

—

(0

.32)

.64

10/31/19

.14

.30

.85

.15

(0

.24)

—

(0

.24)

.05

10/31/18

.86

.28

(1

.76)

(1

.48)

(0

.24)

—

(0

.24)

.14

Advisor

Class:

10/31/22

.23

.33

(4

.36)

(4

.03)

(0

.27)

—

(0

.27)

.93

10/31/21

.65

.24

.57

.81

(0

.23)

—

(0

.23)

.23

10/31/20

.06

.18

.71

.89

(0

.30)

—

(0

.30)

.65

10/31/19

.13

.35

.80

.15

(0

.22)

—

(0

.22)

.06

10/31/18

.85

.37

(1

.87)

(1

.50)

(0

.22)

—

(0

.22)

.13

Premier

Class:

10/31/22

.15

.31

(4

.32)

(4

.01)

(0

.26)

—

(0

.26)

.88

10/31/21

.60

.25

.55

.80

(0

.25)

—

(0

.25)

.15

10/31/20

.02

.21

.67

.88

(0

.30)

—

(0

.30)

.60

10/31/19

.10

.32

.82

.14

(0

.22)

—

(0

.22)

.02

10/31/18

.82

.23

(1

.73)

(1

.50)

(0

.22)

—

(0

.22)

.10

Retirement

Class:

10/31/22

.12

.29

(4

.30)

(4

.01)

(0

.25)

—

(0

.25)

.86

10/31/21

.57

.24

.55

.79

(0

.24)

—

(0

.24)

.12

10/31/20

.00

.20

.67

.87

(0

.30)

—

(0

.30)

.57

10/31/19

.08

.32

.81

.13

(0

.21)

—

(0

.21)

.00

10/31/18

.80

.24

(1

.75)

(1

.51)

(0

.21)

—

(0

.21)

.08

Retail

Class:

10/31/22

.13

.28

(4

.30)

(4

.02)

(0

.24)

—

(0

.24)

.87

10/31/21

.59

.22

.55

.77

(0

.23)

—

(0

.23)

.13

10/31/20

.00

.19

.68

.87

(0

.28)

—

(0

.28)

.59

10/31/19

.09

.29

.82

.11

(0

.20)

—

(0

.20)

.00

10/31/18

.81

.23

(1

.75)

(1

.52)

(0

.20)

—

(0

.20)

.09

Class

W:

10/31/22

.23

.34

(4

.33)

(3

.99)

(0

.30)

—

(0

.30)

.94

10/31/21

.66

.29

.57

.86

(0

.29)

—

(0

.29)

.23

10/31/20

.07

.26

.67

.93

(0

.34)

—

(0

.34)

.66

10/31/19

.14

.37

.81

.18

(0

.25)

—

(0

.25)

.07

10/31/18

†

.06

.02

(0

.94)

(0

.92)

—

—

—

.14

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(30

.98)

%

$

1,010,505

.19

%

.19

%

.91

%

%

.77

1,165,241

.18

.18

.96

f

.43

921,818

.20

.20

.13

.60

824,509

.20

.20

.80

(12

.75)

1,256,129

.20

.20

.34

(31

.08)

6,895

.33

.33

.01

.61

4,300

.32

.32

.77

f

.28

2,449

.34

.34

.62

.52

12,105

.34

.34

.34

(12

.86)

1,511

.34

.34

.19

(31

.06)

22,113

.34

.34

.74

.58

28,510

.33

.33

.80

f

.21

25,218

.35

.35

.90

.52

26,772

.35

.35

.00

(12

.89)

24,852

.35

.35

.99

(31

.12)

438,986

.44

.44

.64

.55

556,244

.43

.43

.74

f

.06

428,964

.45

.45

.89

.43

325,179

.45

.45

.97

(12

.99)

233,463

.45

.45

.03

(31

.19)

16,002

.53

.50

.51

.32

23,317

.56

.56

.65

f

.07

15,221

.57

.57

.73

.16

14,225

.57

.57

.74

(13

.07)

13,357

.57

.57

.92

(30

.81)

3,053,793

.19

0.00 3

.07

.00

3,377,750

.18

0.00 2

.17

f

.60

2,131,058

.20

.01

.37

.86

1,399,712

.20

0.00 3

.50

(8

.32)

b

889,002

.22

c

0.00 c

.27

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

4.7 INTERNATIONAL

EQUITY

INDEX

FUND

Institutional

Class:

10/31/22

$

.56

$

.64

$

(5

.91)

$

(5

.27)

$

(0

.69)

$

—

$

(0

.69)

$

.60

10/31/21

.93

.61

.44

.05

(0

.42)

—

(0

.42)

.56

10/31/20

.77

.45

(1

.67)

(1

.22)

(0

.62)

—

(0

.62)

.93

10/31/19

.37

.61

.37

.98

(0

.58)

—

(0

.58)

.77

10/31/18

.32

.61

(2

.00)

(1

.39)

(0

.56)

—

(0

.56)

.37

Advisor

Class:

10/31/22

.51

.61

(5

.89)

(5

.28)

(0

.67)

—

(0

.67)

.56

10/31/21

.90

.59

.42

.01

(0

.40)

—

(0

.40)

.51

10/31/20

.75

.43

(1

.68)

(1

.25)

(0

.60)

—

(0

.60)

.90

10/31/19

.34

.58

.38

.96

(0

.55)

—

(0

.55)

.75

10/31/18

.29

.60

(2

.01)

(1

.41)

(0

.54)

—

(0

.54)

.34

Premier

Class:

10/31/22

.48

.59

(5

.87)

(5

.28)

(0

.65)

—

(0

.65)

.55

10/31/21

.87

.58

.42

.00

(0

.39)

—

(0

.39)

.48

10/31/20

.71

.42

(1

.67)

(1

.25)

(0

.59)

—

(0

.59)

.87

10/31/19

.31

.59

.36

.95

(0

.55)

—

(0

.55)

.71

10/31/18

.26

.56

(1

.98)

(1

.42)

(0

.53)

—

(0

.53)

.31

Retirement

Class:

10/31/22

.08

.60

(6

.05)

(5

.45)

(0

.63)

—

(0

.63)

.00

10/31/21

.32

.57

.56

.13

(0

.37)

—

(0

.37)

.08

10/31/20

.20

.41

(1

.72)

(1

.31)

(0

.57)

—

(0

.57)

.32

10/31/19

.74

.59

.40

.99

(0

.53)

—

(0

.53)

.20

10/31/18

.73

.57

(2

.04)

(1

.47)

(0

.52)

—

(0

.52)

.74

Class

W:

10/31/22

.57

.65

(5

.91)

(5

.26)

(0

.70)

—

(0

.70)

.61

10/31/21

.94

.63

.43

.06

(0

.43)

—

(0

.43)

.57

10/31/20

.78

.46

(1

.68)

(1

.22)

(0

.62)

—

(0

.62)

.94

10/31/19

.37

.63

.36

.99

(0

.58)

—

(0

.58)

.78

10/31/18

†

.95

.02

(1

.60)

(1

.58)

—

—

—

.37

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

f

Does

not

include

in-kind

transactions.

See

notes

to

financial

statements

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

concluded

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(23

.00)

%

$

8,366,604

.05

%

.05

%

.14

%

%

.05

9,784,831

.05

.05

.72

f

(6

.45)

7,675,874

.05

.05

.46

.23

7,842,042

.06

.06

.28

(7

.04)

7,702,594

.06

.06

.06

f

(23

.10)

135,488

.17

.17

.03

.86

156,717

.17

.17

.65

f

(6

.58)

111,950

.17

.17

.32

.15

118,307

.19

.19

.15

(7

.16)

28,194

.20

.20

.00

f

(23

.10)

138,009

.20

.20

.91

.87

235,696

.20

.20

.60

f

(6

.61)

201,339

.20

.20

.26

.06

240,884

.21

.21

.18

(7

.18)

215,656

.21

.21

.80

f

(23

.20)

1,025,583

.30

.30

.86

.74

1,409,903

.30

.30

.50

f

(6

.73)

1,140,317

.30

.30

.20

.01

1,175,682

.31

.31

.09

(7

.29)

965,816

.31

.31

.78

f

(22

.96)

7,066,985

.05

0.00 3

.21

.09

7,359,293

.05

0.00 2

.80

f

(6

.40)

4,288,389

.05

0.00 2

.53

.30

3,612,733

.06

0.00 3

.42

(7

.92)

b

2,478,430

.06

c

0.00 c

.15

c

f

TIAA-CREF

Funds

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Notes

to

financial

statements

Note

1—organization

TIAA-CREF

Funds

(the

"Trust")

is

a

Delaware

statutory

trust

that

is

registered

with

the

U.S. Securities

and

Exchange

Commission

("SEC")

under

the

Investment

Company

Act

of

1940,

as

amended

("1940

Act"),

as

an

open-end

management

investment

company.

The

following

are

the

TIAA-CREF

Funds

included

in

this

report:

Equity

Index

Fund,

Large-Cap

Growth

Index

Fund,

Large-Cap

Value

Index

Fund,

S&P

500

Index

Fund,

Small-Cap

Blend

Index

Fund,

Emerging

Markets

Equity

Index

Fund,

and

the

International

Equity

Index

Fund

(collectively

the

"Funds"

or

individually,

the

"Fund").

Teachers

Advisors,

LLC

(the

"Adviser"),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

("TIAA"),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Funds.

The

Funds

offer

their

shares,

without

a

sales

load,

through

their

principal

underwriter,

Nuveen

Securities,

LLC

("Nuveen

Securities"), which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Funds

offer

up

to

six

share

classes,

although

any

one

Fund

may

not

necessarily

offer

all

six

classes.

The

Funds

may

offer

Institutional

Class,

Advisor

Class, Premier

Class,

Retirement Class, Retail

Class

and

Class

W

shares.

Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Note

2—significant

accounting

policies

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

Funds

are

investment

companies

and

follow

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

. The

net

asset

value

("NAV")

for

financial

reporting

purposes

may

differ

from

the

NAV

for

processing

transactions.

The

NAV

for

financial

reporting

purposes

includes

security

and

shareholder

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the

NAV

used

for

processing

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds

.

Investments

and

investment

income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

Dividend

income

is

recorded

on

the

ex-dividend

date.

Foreign

dividend

income

is

recorded

on

the

ex-dividend

date

or

as

soon

as

possible

after

the Funds

determine

the

existence

of

a

dividend

declaration.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned on

cash

collateral

investments. 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

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The

Funds estimate

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

operations

and

allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation

of

a

Fund

are

allocated

on

a

pro

rata

basis

to

each

class

of

shares,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses, which

are

unique

to

each

class

of

shares.

Most

expenses

of

the

Trust

can

be

directly

attributed

to

a

fund.

Expenses

that

cannot

be

directly

attributed

are

allocated

to

each

fund

in

the

Trust

based

upon

the

average

net

assets

of

each

fund.

Distributions

to

shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

currency

transactions

and

translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i) foreign

currency,

(ii) investments

and

(iii) derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

"Net

realized

gain

(loss)

on

total

investments"

on

the

Statements

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i) investments

and

(ii) other

assets

and

liabilities

are

recognized

as

a

component

of

"Net

change

in

unrealized

appreciation

(depreciation)

of

total investments"

on

the

Statements

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative's

related "Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments"

on

the

Statements

of

operations,

when

applicable.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

Foreign

taxes:

The Funds

may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the Funds

invest.

Trustee

compensation:

The

Funds pay

the

members

of

the

Board

of

Trustees

("Board"),

all

of

whom

are

independent,

certain

remuneration

for

their

services,

plus

travel

and

other

expenses.

Trustees

may

elect

to

participate

in

a

deferred

compensation

plan

and

defer

all

or

a

portion

of

their

compensation.

In

addition,

trustees

participate

in

a

long-term

compensation

plan.

Amounts

deferred

are

retained

by

the

Funds

until

paid.

Amounts

payable

to

the

trustees

for

compensation

are

included

separately

in the

accompanying

Statements

of

assets

and

liabilities.

Trustees'

fees,

including

any

deferred

and

long-term

compensation

incurred,

are

reflected

in

the

Statements

of

operations.

Indemnification:

Under

the

Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Other

matters:

The

outbreak

of

the

novel

coronavirus

("COVID-19")

and

subsequent

global

pandemic

began

significantly

impacting

the

U.S.

and

global

financial

markets

and

economies

during

the

calendar

quarter

ended

March

31,

2020. The

worldwide

spread

of

has

created

significant

uncertainty

in

the

global

economy.

The

duration

and

extent

of

over

the

long

term

cannot

be

reasonably

estimated

at

this

time.

The

ultimate

impact

of

and

the

extent

to

which

impacts

the Funds'

normal

course

of

business,

results

of

operations,

investments,

and

cash

flows

will

depend

on

future

developments,

which

are

highly

uncertain

and

difficult

to

predict.

Management

continues

to

monitor

and

evaluate

this

situation.

New

accounting

pronouncement:

In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

("Topic

820").

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1) clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2) amends

a

related

illustrative

example,

and

(3) introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820. For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

Management

is

currently

assessing

the

impact

of

these

provisions

on

the

Funds' financial

statements.

New

rule

issuance:

A

new

rule

adopted

by

the

SEC

governing

fund

valuation

practices,

Rule

2a-5

under

the

1940

Act,

has

established

requirements

for

determining

fair

value

in

good

faith

for

purposes

of

the

1940

Act.

Rule

2a-5

permits

fund

boards

to

designate

certain

parties

to

perform

fair

value

determinations,

subject

to

board

oversight

and

certain

other

conditions.

Rule

2a-5

also

defines

when

market

quotations

are

"readily

available"

for

purposes

of

Section

2(a)(41)

of

the

1940

Act,

which

requires

a

fund

to

fair

value

a

security

when

market

quotations

are

not

readily

available.

Separately,

new

SEC

Rule

31a-4

under

the

1940

Act

sets

forth

the

recordkeeping

requirements

associated

with

fair

value

determinations.

The Funds

adopted

a

valuation

policy

conforming

to

the

new

rules,

effective

September

1,

2022,

and

there

was

no

material

impact

to

the

Funds.

Note

3—valuation

of

investments

The Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

the

review

and

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management's

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management's

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

Debt

securities:

Prices

of

fixed-income

securities

are

provided

by

independent

pricing

services

("pricing

services")

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security's

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2. Exchange-traded

equity

securities,

common

and

preferred

stock:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

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 Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1. When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. Investments

in

registered

investment

companies:

Investments

in

investment

companies

are

valued

at

their

respective NAVs

on

the

valuation

date

and

are

generally

classified

as Level

1. Repurchase

agreements:

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2. Futures

contracts:

Futures

contracts

are

valued

using

the

closing

settlement

price

or,

in

the

absence

of

such

a

price,

the

last

traded

price and

are

generally

classified

as

Level

1. For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. The

following

table

summarizes

the

market

value

of

the Funds'

investments

as

of

October

31,

2022,

based

on

the

inputs

used

to

value

them:

Fund

Level

Level

Level

Total

Equity

Index

Common

stocks

$32,664,324,042

$—

$197,268

$32,664,521,310

Rights/Warrants

—

—

Short-term

investments

231,212,889

254,906,612

—

486,119,501

Futures

contracts\*

2,176,704

—

—

2,176,704

Total

$32,897,713,635

$254,906,612

$197,544

$33,152,817,791

Large-Cap

Growth

Index

Common

stocks

$8,884,794,744

$—

$—

$8,884,794,744

Short-term

investments

24,413,256

4,670,000

—

29,083,256

Total

$8,909,208,000

$4,670,000

$—

$8,913,878,000

Large-Cap

Value

Index

Common

stocks

$7,956,380,532

$—

$115,462

$7,956,495,994

Short-term

investments

22,144,655

—

—

22,144,655

Total

$7,978,525,187

$—

$115,462

$7,978,640,649

S&P

500

Index

Common

stocks

$6,786,901,898

$—

$—

$6,786,901,898

Short-term

investments

4,174,123

53,839,271

—

58,013,394

Futures

contracts\*

1,819,016

—

—

1,819,016

Total

$6,792,895,037

$53,839,271

$—

$6,846,734,308

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

Note

4—investments

Repurchase

agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund's policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

Restricted

securities:

Restricted

securities

held

by

the

Funds,

if

any,

may

not

be

sold

except

in

exempt

transactions

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933,

as

amended.

The

risk

of

investing

in

such

securities

is

generally

greater

than

the

risk

of

investing

in

securities

that

are

widely

held

and

publicly

traded.

Securities

lending:

Certain Funds

may

lend

their

securities

to

qualified

institutional

borrowers

to

earn

additional

income.

A

Fund 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;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the Fund

the

next

business

day.

Cash

collateral

received

by the

Fund will

generally

be

invested

in

high-quality

short-term

instruments

or

in

one

or

more

funds

maintained

by

the

securities

lending

agent

("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

Statements

of

assets

and

liabilities.

Non-cash

collateral

is

not

disclosed

in

the

Funds'

Statements

of

assets

and

liabilities

as

it

is

held

by

the Agent

or

by

a

third

party

bank

engaged

by

the

Agent

as

a

special

"tri-party" custodian on

behalf

of

the Funds,

and

the

Funds

do

not

have

the

ability

to

sell

or

re-hypothecate

those

securities.

As

of

October

31,

2022,

securities

lending

transactions are

for equity

securities,

and

the

resulting

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

Securities

lending

income

recognized

by

the

Funds consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

reflected

separately

in

the

Statements

of

operations.

In

lending

its

securities,

a

Fund bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned.

As

of October

31,

2022,

the

total

value

of

securities

on

loan

and

the

total

value

of

collateral

received

were

as

follows:

Fund

Level

Level

Level

Total

Small-Cap

Blend

Index

Common

stocks

$3,283,954,957

$—

$56,467

$3,284,011,424

Rights/Warrants

—

561

667

Short-term

investments

175,032,594

19,475,000

—

194,507,594

Futures

contracts\*

1,201,432

—

—

1,201,432

Total

$3,460,189,089

$19,475,000

$57,028

$3,479,721,117

Emerging

Markets

Equity

Index

Corporate

bonds

$—

$19,277

$—

$19,277

Common

stocks

568,903,150

3,904,906,383

485,180

4,474,294,713

Rights/Warrants

—

47,323

47,324

Short-term

investments

7,347,100

77,419,487

—

84,766,587

Futures

contracts\*

(1,868,056)

—

—

(1,868,056)

Total

$574,382,194

$3,982,392,470

$485,181

$4,557,259,845

International

Equity

Index

Common

stocks

$98,723,941

$16,336,355,543

$1

$16,435,079,485

Short-term

investments

156,184,198

166,985,966

—

323,170,164

Futures

contracts\*

4,524,301

—

—

4,524,301

Total

$259,432,440

$16,503,341,509

$1

$16,762,773,950

\*

Derivative

instruments

are

not

reflected

in

the

market

value

of

portfolio

investments.

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis:

The Funds

may

purchase

securities

on

a

when-issued

or

delayed-

delivery

basis.

Securities

purchased

or

sold

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

The

Funds have

segregated

securities

in

their

portfolios

with

a

current

value

at

least

equal

to

the

amount

of

the

when-issued/delayed

delivery

purchase

commitments.

Purchases

and

sales:

Purchases

and

sales

of

securities

(other

than

short-term

instruments)

for

all

of

the Funds

for

the year

ended

October

31,

2022

were

as

follows:

Note

5—derivative

investments

Each Fund is

authorized

to

invest

in

certain

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

variables.

At

October

31,

2022,

the

following Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statements

of

assets

and

liabilities

as

follows:

\*

Value

represents

the

cumulative

unrealized

appreciation

(depreciation)

of

cleared

derivative

contracts

as

reported

in

the

Fund's

Portfolio

of

investments.

The

Statements

of

assets

and

liabilities

only

reflects

the

current

day

variation

margin

receivable/payable

from/to

brokers

on

open

cleared

derivative

contracts.

Aggregate

value

of

securities

on

loan

Fund

Equity

Securities

Cash

collateral

received\*

Non-cash

collateral

received

Total

collateral

received

Equity

Index

$266,030,201

$231,212,889

$45,783,540

$276,996,429

Large-Cap

Growth

Index

27,079,303

24,413,256

3,538,276

27,951,532

Large-Cap

Value

Index

28,982,453

22,144,655

7,685,893

29,830,548

S&P

500

Index

4,313,106

4,174,122

238,127

4,412,249

Small-Cap

Blend

Index

205,568,720

175,032,594

39,081,544

214,114,138

Emerging

Markets

Equity

Index

32,362,752

7,347,100

30,786,234

38,133,334

International

Equity

Index

232,842,524

156,184,198

96,842,442

253,026,640

\*May

include

cash

and

investment

of

cash

collateral

Fund

Non-U.S.

government

purchases

Non-U.S.

government

sales

4.1 Equity

Index

$

6,225,842,991

$

2,241,655,201

4.2 Large-Cap

Growth

Index

3,436,227,850

4,728,917,368

4.3 Large-Cap

Value

Index

1,799,320,974

2,064,173,288

4.4 S&P

500

Index

338,681,212

802,623,100

4.5 Small-Cap

Blend

Index

954,854,387

1,434,308,038

4.6 Emerging

Markets

Equity

Index

1,633,232,879

350,095,426

4.7 International

Equity

Index

3,721,288,171

788,119,624

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

Equity

Index

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

$

2,176,704

-

$

–

S&P

500

Index

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

1,819,016

-

–

Small-Cap

Blend

Index

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

1,201,432

-

–

Emerging

Markets

Equity

Index

Fund

Futures

contracts

Equity

-

–

Unrealized

depreciation

on

futures

contracts

\*

(1,868,056)

International

Equity

Index

Fund

Futures

contracts

Equity

Unrealized

appreciation

on

futures

contracts

\*

4,524,301

-

–

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

For

the year

ended

October

31,

2022,

the

effect

of

derivative

contracts

on

the Funds'

Statements

of

operations

was

as

follows:

Futures

contracts:

Certain

Funds

are

subject

to

equity

price

and

interest

rate

risk

in

the

normal

course

of

pursuing

their

investment

objectives.

The Funds

use

futures

contracts

to

manage

exposure

to

the

equity

and

bond

markets and

for

cash

management

purposes

to

remain

highly

invested

in

these

markets

while

minimizing

transaction

costs.

A

futures

contract

is

an

agreement

between

two

parties

to

buy

and

sell

a

financial

instrument

for

a

set

price

on

a

future

date.

Upon

execution

of

a

futures

contract,

the

Fund

is

obligated

to

deposit

cash

or

eligible

securities,

also

known

as

"initial

margin,"

into

an

account

at

its

clearing

broker

equal

to

a

specified

percentage

of

the

contract

amount.

Securities

deposited

for

initial

margin,

if

any,

are

identified

in

the

Portfolio

of

investments

and

cash

deposited

for

initial

margin,

if

any,

is

reflected

on

the

Statements

of

assets

and

liabilities.

During

the

period

the

futures

contract

is

open,

changes

in

the

market

value

of

the

contract

are

recognized

as

an

unrealized

gain

or

loss

by

"marking-to-market"

on

a

daily

basis.

The

Fund

and

the

clearing

broker

are

obligated

to

settle

monies

on

a

daily

basis

representing

the

changes

in

the

value

of

the

contracts.

These

daily

cash

settlements

are

known

as

"variation

margin"

which are

recognized

on

the

Statements

of

assets

and

liabilities

as

a

receivable

or

payable

for

variation

margin

on

futures

contracts.

When

the

contract

is

closed

or

expired,

the

Fund

records

a

realized

gain

or

loss

equal

to

the

difference

between

the

value

of

the

contract

on

the

closing

date

and

value

of

the

contract

when

originally

entered

into.

The

net

realized

gain

or

loss

and

the

change

in

unrealized

appreciation

(depreciation)

on

futures

contracts

held

during

the

period

is

included

on

the

Statement

of

operations.

Risks

of

investments

in

futures

contracts

include

the

possible

adverse

movement

in

the

price

of

the

securities

or

indices

underlying

the

contracts,

the

possibility

that

there

may

not

be

a

liquid

secondary

market

for

the

contracts

and/or

that

a

change

in

the

value

of the

contract

may

not

correlate

with

a

change

in

the

value

of

the

underlying

securities

or

indices.

The

average

notional

amount

of

futures

contracts

outstanding

during

the

current

fiscal

period

ended October

31,

2022

was

as

follows:

Note

6—income

tax

information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

4.1 Equity

Index

Fund

Futures

contracts

Equity

$

(15,451,667)

$

1,500,378

4.4 S&P

500

Index

Fund

Futures

contracts

Equity

(10,614,225)

880,630

4.5 Small-Cap

Blend

Index

Fund

Futures

contracts

Equity

(2,053,974)

1,201,432

4.6 Emerging

Markets

Equity

Index

Fund

Futures

contracts

Equity

(30,225,120)

(1,950,600)

4.7 International

Equity

Index

Fund

Futures

contracts

Equity

(37,977,150)

(2,454,906)

Fund

Average

notional

amount

of

futures

contracts

outstanding\*

4.1 Equity

Index

$

103,953,486

4.4 S&P

500

Index

38,015,843

4.5 Small-Cap

Blend

Index

3,336,004

4.6 Emerging

Markets

Equity

Index

69,035,157

4.7 International

Equity

Index

253,843,872

\*

The

average

notional

amount

is

calculated

based

on

the

absolute

aggregate

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund's

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund's

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

distribution

reallocations,

foreign

currency

transactions,

foreign

taxes

paid,

investments

in

partnerships,

investments

in

passive

foreign

investment

companies,

redemptions

in-kind,

return

of

capital

and

long-term

capital

gain

distributions

received

from

portfolio

investments,

and

tax

equalization.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund's

net

assets.

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of year

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

The

tax

character

of

distributions

paid was

as

follows:

As

of

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

Fund

Tax

cost

Gross

unrealized

appreciation

Gross

unrealized

(depreciation)

Net

unrealized

appreciation

(depreciation)

4.1 Equity

Index

$19,553,481,334

$15,054,553,022

$(1,455,216,565)

$13,599,336,457

4.2 Large-Cap

Growth

Index

4,675,412,933

4,518,547,883

(280,082,816)

4,238,465,067

4.3 Large-Cap

Value

Index

6,194,544,900

2,387,765,500

(603,669,751)

1,784,095,749

4.4 S&P

500

Index

3,382,120,466

3,684,530,373

(219,916,531)

3,464,613,842

4.5 Small-Cap

Blend

Index

2,854,829,082

1,156,316,384

(531,424,349)

624,892,035

4.6 Emerging

Markets

Equity

Index

5,123,228,558

481,303,512

(1,047,272,225)

(565,968,713)

4.7 International

Equity

Index

17,449,472,998

2,060,011,118

(2,751,234,467)

(691,223,349)

Fund

Undistributed

ordinary

income

Undistributed

long-term

capital

gains

Unrealized

appreciation

(depreciation)

Capital

loss

carryforwards

Late-year

loss

deferrals

Other

book-to-tax

differences

Total

4.1 Equity

Index

$396,547,441

$79,482,822

$13,599,336,457

$–

$–

$(753,814)

$14,074,612,906

4.2 Large-Cap

Growth

Index

65,089,036

770,138,335

4,238,465,067

–

–

(221,073)

5,073,471,365

4.3 Large-Cap

Value

Index

182,202,557

126,051,146

1,784,095,749

–

–

(226,338)

2,092,123,114

4.4 S&P

500

Index

83,304,229

17,047,909

3,464,613,842

–

–

(241,264)

3,564,724,716

4.5 Small-Cap

Blend

Index

32,678,468

11,115,154

624,892,035

–

–

(119,409)

668,566,248

4.6 Emerging

Markets

Equity

Index

113,462,711

–

(587,265,375)

(558,551,209)

–

(88,158)

(1,032,442,031)

4.7 International

Equity

Index

444,801,956

–

(696,444,322)

(592,112,923)

–

(490,412)

(844,245,701)

10/31/2022

10/31/2021

Fund

Ordinary

income

Long-term

capital

gains

Ordinary

income

Long-term

capital

gains

4.1 Equity

Index

$

539,694,530

$

196,389,865

$

432,818,371

$

–

4.2 Large-Cap

Growth

Index

472,020,962

446,939,500

130,103,218

102,136,763

4.3 Large-Cap

Value

Index

314,938,457

17,152,381

167,207,722

–

4.4 S&P

500

Index

116,004,674

33,515,398

104,175,005

–

4.5 Small-Cap

Blend

Index

108,305,564

261,768,341

45,496,626

58,018,148

4.6 Emerging

Markets

Equity

Index

120,649,410

–

84,704,644

–

4.7 International

Equity

Index

566,098,699

–

308,920,472

–

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

continued

A

Fund

may

accept

portfolio

securities

rather

than

cash

as

payment

for

a

purchase

of

fund

shares

(in-kind

purchase). During

the year

ended

October

31,

2022,

the

Funds

received

the

following

amounts

from in-kind

purchase

transactions:

In

certain

circumstances,

a

fund

may

distribute

portfolio

securities

rather

than

cash

as

payment

for

a

redemption

of

fund

shares

(in-

kind

redemption). For

federal

income

tax

purposes,

the

gain

is

not

taxable

and

therefore

will

not

be

distributed

to

shareholders.

The

gain

was

reclassified

from

total

distributable

earnings

(loss)

to

paid-in-capital

in

the

Statements

of

Assets

and

Liabilities.

During

the year

ended

October

31,

2022,

the

Funds

received

the

following

amounts

from

net

capital

gains

and

in-kind

redemptions

transactions:

Note

7—investment

adviser

and

other

transactions

with

affiliates

Under

the

terms

of

the

Investment

Management

Agreement

with

respect

to

each

Fund, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Funds

have

entered

into

an

Administrative

Service

Agreement

with

the

Adviser

under

which

the

Funds

pay the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Funds.

Under

the

terms

of

a

Retirement

Class

Service

Agreement

with

respect

to

each

Fund,

the

Retirement

Class

of

the

Fund

incurs

an

annual

fee

of

0.25%

of

the

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain

administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statements

of

operations

are

paid

to

the

Adviser

under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

each

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund's

Retail

Class.

The

Premier

Class

of

each

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund's

Premier

Class.

The

Adviser has

contractually

agreed

to

waive

and/or

reimburse

Class

W's

shares'

Management

fees

and

Other

expenses

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses,

trustee

expenses

and

extraordinary

expenses)

in

their

entirety.

The

Adviser

expects

this

waiver

and/or

reimbursement

to

remain

in

effect

indefinitely,

unless

changed

or

terminated

with

approval

of

the

Board.

The

Management

fees

and

Other

expenses

of

Class

W

shares

that

have

been

waived

by the

Adviser may

be

incurred

directly

or

indirectly,

all

or

in

part,

by

investors

in

Class

W

shares.

The

Adviser

has

agreed

to

reimburse

each

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

October

31,

2022

,

the

investment

management

fee,

service

agreement

fee,

distribution

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Fund

Short-term

Long-term

Total

4.1 Equity

Index

$

–

$

–

$

–

4.2 Large-Cap

Growth

Index

–

–

–

4.3 Large-Cap

Value

Index

–

–

–

4.4 S&P

500

Index

–

–

–

4.5 Small-Cap

Blend

Index

–

–

–

4.6 Emerging

Markets

Equity

Index

164,397,398

394,153,811

558,551,209

4.7 International

Equity

Index

193,210,655

398,902,268

592,112,923

Fund

In-kind

purchases

4.1 Equity

Index

$587,449,114

Fund

Net

capital

gains

In-kind

redemptions

4.4 S&P

500

Index

$

440,709,075

$

587,449,114

Investment

management

fee-

effective

rate

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

4.1 Equity

Index

.040

%

.090

%

.240

%

.240

%

.340

%

.480

%

.090

%

4.2 Large-Cap

Growth

Index

.040

.090

.240

–

.340

–

.090

4.3 Large-Cap

Value

Index

.040

.090

.240

–

.340

–

.090

4.4 S&P

500

Index

.040

.090

.240

–

.340

–

.090

4.5 Small-Cap

Blend

Index

.040

.090

.240

–

.340

–

–

4.6 Emerging

Markets

Equity

Index

.115

.210

.360

.360

.460

.600

.210

4.7 International

Equity

Index

.040

.150

.300

.300

.400

–

.150

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

Prior

to

August

1,

2022,

the

investment

management

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

The Funds may

purchase

or

sell

investment

securities

in

transactions

with

affiliated

entities

under

procedures

adopted

by

the

Board,

pursuant

to

the

1940

Act.

These

transactions

are

effected

at

market

rates

without

incurring

broker

commissions.

For

the

year

ended

October

31,

2022,

the

Funds

engaged

in

the

following

security

transactions

with

affiliated

entities:

A

registered

separate

account

of

TIAA

(collectively

"TIAA

Access")

has

various

sub-accounts

that

invest

in the

Funds,

and

certain funds

within

the

Trust

also

make

investments

in the

Funds.

The

following

is

the

percentage

of

the

Funds'

shares

owned

by

TIAA

Access

and

other

funds

within

the

Trust

as

of

October

31,

2022:

Note

8—emerging

markets

risks

The

Emerging

Markets

Equity

Index

Fund

holds

a

large

portion

of

its

assets

in

emerging

market

securities.

Emerging

market

securities

are

often

subject

to

greater

price

volatility,

less

liquidity

and

higher

rates

of

inflation

and

deflation

than

U.S.

securities.

In

addition,

emerging

markets

may

be

subject

to

greater

political,

economic

and

social

uncertainty,

and

differing

regulatory

environments

that

may

potentially

impact

the

Fund's

ability

to

buy

or

sell

certain

securities

or

repatriate

proceeds

to

U.S.

dollars.

Note

9—inter-fund

lending

program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Funds may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Funds to

lend

cash

to

and/or

borrow

cash

from

certain

other

affiliated

Funds for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

no

Fund may

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

a

Fund may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund's investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During the year

ended October

31,

2022,

there

were

no

inter-fund

borrowing

or

lending

transactions.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

February

28,

2023. The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

management

fee-effective

rate

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

4.6 Emerging

Markets

Equity

Index

.120

%

.230

%

.380

%

.380

%

.480

%

.620

%

.230

%

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Fund

Purchases

Sales

Realized

gain

(loss)

Equity

Index

$

549,067,730

$

13,436,742

$

137,691

Large-Cap

Growth

Index

196,866,482

40,433,091

1,387,126

Large-Cap

Value

Index

53,637,223

11,149,369

609,827

S&P

500

Index

78,544,315

3,469,489

(101,813)

Small-Cap

Blend

Index

7,233,473

3,710,659

(249,211)

Emerging

Markets

Equity

Index

94,884,647

5,604,113

(5,241,902)

International

Equity

Index

373,746,151

6,463,580

(1,257,034)

Underlying

Fund

TIAA-CREF

Lifecycle

Index

Funds

TIAA-CREF

Lifestyle

Funds

TIAA-CREF

Managed

Allocation

Fund

TIAA

Access

Total

4.1 Equity

Index

%

–

%

–

%

%

%

4.2 Large-Cap

Growth

Index

–

4.3 Large-Cap

Value

Index

–

4.4 S&P

500

Index

–

–

–

4.5 Small-Cap

Blend

Index

–

–

–

4.6 Emerging

Markets

Equity

Index

4.7 International

Equity

Index

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

concluded

Note

10—line

of

credit

The Funds

participate

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

14,

2022

expiring

on

June

13,

2023,

replacing

the

previous facility,

which

expired

June

2022. Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by the

Adviser,

or

an

affiliate

of

the

Adviser, 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

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The Funds are

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

For

the year

ended

October

31,

2022,

there

were

no

borrowings

under

this

credit

facility

by

the

Funds.

Report

of

Independent

Registered

Public

Accounting

Firm

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

To

the

Board

of

Trustees

of

TIAA-CREF

Funds

and

Shareholders

of

TIAA-CREF

Equity

Index

Fund,

TIAA-CREF

Large-Cap

Growth

Index

Fund,

TIAA-CREF

Large-Cap

Value

Index

Fund,

TIAA-CREF

S&P

500

Index

Fund,

TIAA-CREF

Small-Cap

Blend

Index

Fund,

TIAA-CREF

Emerging

Markets

Equity

Index

Fund

and

TIAA-CREF

International

Equity

Index

Fund:

Opinions

on

the

Financial

Statements

We

have

audited

the

accompanying

statements

of

assets

and

liabilities,

including

the

portfolios

of

investments,

of

TIAA-CREF

Equity

Index

Fund,

TIAA-CREF

Large-Cap

Growth

Index

Fund,

TIAA-CREF

Large-Cap

Value

Index

Fund,

TIAA-CREF

S&P

500

Index

Fund,

TIAA-

CREF

Small-Cap

Blend

Index

Fund,

TIAA-CREF

Emerging

Markets

Equity

Index

Fund,

and

TIAA-CREF

International

Equity

Index

Fund

(seven

of

the

funds

constituting

TIAA-CREF

Funds,

hereafter

collectively

referred

to

as

the

"Funds")

as

of

October

31,

2022,

the

related

statements

of

operations

for

the

year

ended

October

31,

2022,

the

statements

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

periods

indicated

therein

(collectively

referred

to

as

the

"financial

statements").

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

as

of

October

31,

2022,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022,

and

each

of

the

financial

highlights

for

each

of

the

periods

indicated

therein

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

of

the

Funds'

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds'

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

("PCAOB")

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2022

by

correspondence

with

the

custodian

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/PricewaterhouseCoopers

LLP

Charlotte,

North

Carolina

December

22,

2022

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

TIAA-CREF

Funds'

investment

company

group

since

2005. 231

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Important

tax

information

(unaudited)

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-term

capital

gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

allowable

amount,

as

being

from

net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code:

Dividends

received

deduction

(DRD)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

eligible

for

the

dividends

received

deduction

for

corporate

shareholders:

Qualified

dividend

income

(QDI)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

dividend

income

for

individuals

pursuant

to

Section

1(h)(11)

of

the

Internal

Revenue

Code:

Foreign

source

income

and

foreign

tax

credit

pass

through

Each

Fund

listed

below

has

made

an

election

under

Section

853

of

the

Internal

Revenue

Code

to

pass

through

foreign

taxes

paid:

Fund

Net

long-term

capital

gains

4.1 Equity

Index

$

211,070,506

4.2 Large-Cap

Growth

Index

567,747,305

4.3 Large-Cap

Value

Index

30,011,099

4.4 S&P

500

Index

37,012,886

4.5 Small-Cap

Blend

Index

261,795,368

4.6 Emerging

Markets

Equity

Index

–

4.7 International

Equity

Index

–

Fund

Percentage

4.1 Equity

Index

.4

%

4.2 Large-Cap

Growth

Index

.1

4.3 Large-Cap

Value

Index

.3

4.4 S&P

500

Index

.1

4.5 Small-Cap

Blend

Index

.0

4.6 Emerging

Markets

Equity

Index

.2

4.7 International

Equity

Index

–

Fund

Percentage

4.1 Equity

Index

.2

%

4.2 Large-Cap

Growth

Index

.4

4.3 Large-Cap

Value

Index

.6

4.4 S&P

500

Index

.6

4.5 Small-Cap

Blend

Index

.6

4.6 Emerging

Markets

Equity

Index

.0

4.7 International

Equity

Index

.5

Fund

Foreign

source

income

Foreign

source

income

per

share

Qualifying

foreign

taxes

paid

Qualifying

foreign

taxes

paid

per

share

4.1 Equity

Index

$

–

$

–

$

–

$

–

4.2 Large-Cap

Growth

Index

–

–

–

–

4.3 Large-Cap

Value

Index

–

–

–

–

4.4 S&P

500

Index

–

–

–

–

4.5 Small-Cap

Blend

Index

–

–

–

–

4.6 Emerging

Markets

Equity

Index

146,002,611

0.28643 16,582,923

0.03253 4.7 International

Equity

Index

550,186,095

0.57963 32,696,674

0.03445 Additional

fund

information

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Portfolio

holdings

Securities

and

Exchange

Commission

(SEC)

rules

allow

investment

companies

to

list

the

top

holdings

of

each

fund

in

their

annual

and

semiannual

reports

instead

of

providing

complete

portfolio

listings.

The

TIAA-CREF

Funds

also

file

complete

portfolio

listings

with

the

SEC,

and

they

are

available

to

the

public.

You

can

obtain

a

complete

list

of

the

TIAA-CREF

Funds'

holdings

(Schedules

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

websites

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

TIAA-CREF

Funds'

portfolio

holdings

as

of

the

most

recently

completed

fiscal

quarter,

and

for

prior

quarter-ends,

from

our

SEC

Form

N-CSR

and

Form

N-PORT

or

Form

N-Q

filings.

Form

N-CSR

filings

are

as

of

October

or

April

30;

Form

N-PORT

or

Form

N-Q

filings

are

as

of

January

or

July

31. Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC's

website

at

sec.gov;

or

From

the

SEC's

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

TIAA-CREF

Funds'

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.org

or

on

the

SEC's

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

to

request

a

free

copy.

A

report

of

how

the

funds

voted

during

the

most

recently

completed

twelve-month

period

ended

June

can

be

found

on

our

website

or

on

Form

N-PX

at

sec.gov.

Contacting

TIAA

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,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

TIAA-CREF

Funds

are

managed

by

the

portfolio

management

teams

of

Teachers

Advisors,

LLC. The

members

of

these

teams

are

responsible

for

the

day-to-day

investment

management

of

the

funds.

Trustees

and

officers

(unaudited)

TIAA-CREF

Funds

October

31,

2022

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

Trustees

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Forrest

Berkley

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2006. Partner

(1990–2005)

and

Head

of

Global

Product

Management

(2003–2005),

GMO

(formerly,

Grantham,

Mayo,

Van

Otterloo

&

Co.)

(investment

management),

and

member

of

asset

allocation

portfolio

management

team,

GMO

(2003–2005).

Mr.

Berkley

has

particular

experience

in

investment

management,

global

operations

and

finance,

as

well

as

experience

with

non-profit

organizations

and

foundations.

Investment

Committee

Member,

Maine

Community

Foundation.

Joseph

A. Boateng

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Trustee

Indefinite

term.

Trustee

since

2019. Chief

Investment

Officer,

Casey

Family

Programs

(since

2007).

Director

of

U.S.

Pension

Plans,

Johnson

&

Johnson

(2002–2006).

Mr.

Boateng

has

particular

experience

in

investments,

pensions,

and

public

finance.

Board

Member,

Lumina

Foundation

and

Waterside

School;

Emeritus

Board

Member,

Year-Up

Puget

Sound;

Investment

Advisory

Committee

Chair,

Seattle

City

Employees'

Retirement

System;

Investment

Committee

Member,

The

Seattle

Foundation.

Janice

C. Eberly

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2018. James

R. and

Helen

D. Russell

Professor

of

Finance

at

the

Kellogg

School

of

Management,

Northwestern

University

(2002–2011

and

since

2013),

Senior

Associate

Dean

for

Strategy

and

Academics

(since

2020)

and

Chair

of

the

Finance

Department

(2005–

2007).

Vice

President,

American

Economic

Association

(2020–2021).

Assistant

Secretary

for

Economic

Policy,

United

States

Department

of

the

Treasury

(2011–2013).

Prof.

Eberly

has

particular

experience

in

education,

finance

and

public

economic

policy.

Member

of

the

Board

of

the

Office

of

Finance,

Federal

Home

Loan

Banks;

Director,

Avant,

LLC. Nancy

A. Eckl

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2007. Vice

President

(1990–2006),

American

Beacon

Advisors,

Inc.

and

of

certain

funds

advised

by

American

Beacon

Advisors,

Inc.

Ms.

Eckl

has

particular

experience

in

investment

management,

mutual

funds,

pension

plan

management,

finance,

accounting

and

operations.

Ms.

Eckl

is

licensed

as

a

certified

public

accountant

in

the

State

of

Texas.

Independent

Director,

The

Lazard

Funds,

Inc.,

Lazard

Retirement

Series,

Inc.

and

Lazard

Global

Total

Return

and

Income

Fund,

Inc.

Michael

A. Forrester

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1967

Trustee

Indefinite

term.

Trustee

since

2007. Chief

Executive

Officer

(2014–2021)

and

Chief

Operating

Officer

(2007–2014),

Copper

Rock

Capital

Partners,

LLC. Mr.

Forrester

has

particular

experience

in

investment

management,

institutional

marketing

and

product

development,

operations

management,

alternative

investments

and

experience

with

non-profit

organizations.

Trustee,

Dexter

Southfield

School;

Member,

Governing

Council

of

the

Independent

Directors

Council.

Howell

E. Jackson

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2005. James

S. Reid,

Jr.

Professor

of

Law

(since

2004),

Senior

Adviser

to

President

and

Provost

(2010–2012),

Acting

Dean

(2009),

Vice

Dean

for

Budget

(2003–2006)

and

on

the

faculty

(since

1989)

of

Harvard

Law

School.

Prof.

Jackson

has

particular

experience

in

law,

including

financial

regulation,

federal

securities

laws,

consumer

protection,

finance,

federal

budget

policy,

pensions

and

Social

Security,

and

organizational

management

and

education.

Director,

Build

Commonwealth

(non-profit

organization).

Trustees

and

officers

(unaudited)

TIAA-CREF

Funds

October

31,

2022

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

continued

Officers

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Thomas

J. Kenny

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Chairman

of

the

Board

and

Trustee

Indefinite

term.

Trustee

since

2011;

Chairman

for

term

ending

June

30,

2023. Chairman

since

September

13,

2017. Advisory

Director

(2010–2011),

Partner

(2004–2010),

Managing

Director

(1999–2004)

and

Co-Head

of

Global

Cash

and

Fixed

Income

Portfolio

Management

Team

(2002–2010),

Goldman

Sachs

Asset

Management.

Mr.

Kenny

has

particular

experience

in

investment

management

of

mutual

funds

and

alternative

investments,

finance,

and

operations

management,

as

well

as

experience

on

non-profit

boards.

He

is

designated

as

an

audit

committee

financial

expert.

Director

and

Chair

of

the

Finance

and

Investment

Committee,

Aflac

Incorporated;

Director,

ParentSquare;

Member,

University

of

California

at

Santa

Barbara

Arts

and

Lectures

Advisory

Council.

James

M. Poterba

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1958

Trustee

Indefinite

term.

Trustee

since

2006. President

and

Chief

Executive

Officer

(since

2008)

and

Program

Director

(1990–2008),

National

Bureau

of

Economic

Research.

Mitsui

Professor

of

Economics,

Massachusetts

Institute

of

Technology

("MIT")

(since

1996);

Affiliated

Faculty

Member

of

the

Finance

Group,

Alfred

P. Sloan

School

of

Management

(since

2014);

Head

(2006–2008)

and

Associate

Head

(1994–2000

and

2001–2006),

Economics

Department

of

MIT.

Prof.

Poterba

has

particular

experience

in

education,

economics,

finance,

tax,

and

organizational

development.

Director,

National

Bureau

of

Economic

Research;

Member,

Congressional

Budget

Office

Panel

of

Economic

Advisers.

Loren

M. Starr

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1961

Trustee

Indefinite

term.

Trustee

since

2022. Independent

Consultant/Advisor

(2021–Present).

Vice

Chair,

Senior

Managing

Director

(2020–2021),

Chief

Financial

Officer,

Senior

Managing

Director

(2005–

2020),

Invesco

Ltd.

Mr.

Starr

has

particular

experience

in

finance,

investment

management

of

mutual

funds,

exchange-traded

funds

and

other

alternative

investments,

corporate

strategy

and

development

and

regulatory

change

management.

None

currently.

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

Richard

S. Biegen

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1962

Chief

Compliance

Officer

One-year

term.

Chief

Compliance

Officer

since

2008. Senior

Managing

Director,

TIAA.

Chief

Compliance

Officer

of

the

College

Retirement

Equities

Fund

("CREF"),

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

(collectively,

the

"TIAA-CREF

Fund

Complex").

Derek

B. Dorn

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1976

Senior

Managing

Director

and

Corporate

Secretary

One-year

term.

Senior

Managing

Director

and

Corporate

Secretary

since

2020. Senior

Managing

Director

and

Corporate

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America

("TIAA")

and

the

TIAA-CREF

Fund

Complex.

Formerly,

Managing

Director,

Special

Assistant

to

the

CEO

and

Managing

Director,

Regulatory

Affairs,

TIAA.

John

L. Douglas

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1950

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

One-year

term.

Executive

Vice

President

since

2021

and

Chief

Legal,

Risk

and

Compliance

Officer

since

2022. Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA.

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Senior

Advisor

to

the

CEO,

and

Senior

Executive

Vice

President,

Chief

Advocacy

&

Oversight

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Douglas

was

a

Partner

at

Davis

Polk

&

Wardwell

LLP.

W. Dave

Dowrich

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1967

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022. Senior

Executive

Vice

President

and

Chief

Financial

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Prior

to

joining

TIAA,

Mr.

Dowrich

served

as

Chief

Financial

Officer,

International

Businesses

at

Prudential

Financial,

Inc.

TIAA-CREF

Funds:

Equity

Index

Funds

2022

Annual

Report

concluded

Please

note

that

the

Funds'

Statement

of

Additional

Information

(SAI)

includes

additional

information

about

the

Funds'

trustees

and

is

available,

without

charge,

through

our

website,

tiaa.org,

or

by

calling

800

223-1200.

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

Bradley

Finkle

TIAA

730

Third

Avenue

New

York,

NY 10017-3206

YOB:

1973

Principal

Executive

Officer

and

President

One-year

term.

Principal

Executive

Officer

and

President

since

2017. Executive

Vice

President,

Head

of

Complementary

Businesses

and

Chief

Administrative

Officer,

Office

of

the

Chief

Operating

Officer.

Formerly,

Executive

Vice

President,

Chief

Operating

Officer,

Nuveen;

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

Jose

Minaya

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1971

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018. Chief

Executive

Officer,

Nuveen.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Executive

Vice

President,

President

and

Chief

Investment

Officer,

Nuveen.

Colbert

Narcisse

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1965

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022. Senior

Executive

Vice

President,

Chief

Product

and

Business

Development

Officer

of

TIAA.

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

Executive

Vice

President

of

TIAA-CREF

Funds

and

TIAA-

CREF

Life

Funds.

Formerly,

Executive

Vice

President

and

Head

of

Advisory

and

Corporate

Solutions,

TIAA.

Prior

to

joining

TIAA,

Mr.

Narcisse

served

as

Managing

Director

and

Head

of

International

Wealth

Management

and

Head

of

Traditional

and

Alternative

Investment

Products

at

Morgan

Stanley.

David

G. Nason

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2020. Senior

Executive

Vice

President,

Chief

Operating

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA,

Executive

Vice

President,

Chief

Risk

and

Compliance

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Nason

served

as

President

and

CEO

of

GE

Energy

Financial

Services.

E. Scott

Wickerham

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1973

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

One-year

term.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

since

2017. Senior

Managing

Director,

Head,

Public

Investment

Finance,

Nuveen.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

of

the

TIAA-CREF

Fund

Complex;

and

Vice

President

and

Controller

of

the

Nuveen

Funds.

Formerly,

Managing

Director,

Head,

TC

Fund

Administration,

Nuveen.

Sean

N. Woodroffe

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018. Senior

Executive

Vice

President,

Chief

People

Officer

of

TIAA

and

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex. Prior

to

joining

TIAA,

Mr.

Woodroffe

served

as

Chief

People

Officer

at

National

Life

Group.

Additional

information

about

index

providers

(unaudited)

2022

Annual

Report

TIAA-CREF

Funds:

Equity

Index

Funds

Russell

Indexes

Source:

London

Stock

Exchange

Group

plc

and

its

group

undertakings

(collectively,

the

"LSE

Group").©

LSE

Group

2022. FTSE

Russell

is

a

trading

name

of

certain

of

the

LSE

Group

companies.

"FTSE®,"

"Russell®"

and

"FTSE

Russell®"

are

trademarks

of

the

relevant

LSE

Group

companies

and

are

used

by

any

other

LSE

Group

company

under

license.

All

rights

in

the

FTSE

Russell

indexes

or

data

vest

in

the

relevant

LSE

Group

company

which

owns

the

index

or

the

data.

Neither

LSE

Group

nor

its

licensors

accept

any

liability

for

any

errors

or

omissions

in

the

indexes

or

data

and

no

party

may

rely

on

any

indexes

or

data

contained

in

this

communication.

No

further

distribution

of

data

from

the

LSE

Group

is

permitted

without

the

relevant

LSE

Group

company's

express

written

consent.

The

LSE

Group

does

not

promote,

sponsor

or

endorse

the

content

of

this

communication.

Standard

&

Poor's

Index

The

S&P

500®

Index

is

a

product

of

S&P

Dow

Jones

Indices

LLC,

a

division

of

S&P

Global,

or

its

affiliates

("SPDJI"),

and

has

been

licensed

for

use

by

the

S&P

500

Index Fund.

Standard

&

Poor's®

and

S&P®

are

registered

trademarks

of

Standard

&

Poor's

Financial

Services

LLC,

a

division

of

S&P

Global

("S&P");

Dow

Jones®

is

a

registered

trademark

of

Dow

Jones

Trademark

Holdings

LLC

("Dow

Jones").

It

is

not

possible

to

invest

directly

in

an

index.

The

fund

is

not

sponsored,

endorsed,

sold

or

promoted

by

SPDJI,

Dow

Jones,

S&P,

any

of

their

respective

affiliates

(collectively,

"S&P

Dow

Jones

Indices").

S&P

Dow

Jones

Indices

does

not

make

any

representation

or

warranty,

express

or

implied,

to

the

owners

of

the

fund

or

any

member

of

the

public

regarding

the

advisability

of

investing

in

securities

generally

or

in

the

fund

particularly

or

the

ability

of

the

S&P

500

Index

to

track

general

market

performance.

Past

performance

of

an

index

is

not

an

indication

or

guarantee

of

future

results.

S&P

Dow

Jones

Indices'

only

relationship

to

the

fund

with

respect

to

the

S&P

500

Index

is

the

licensing

of

the

Index

and

certain

trademarks,

service

marks

and/or

trade

names

of

S&P

Dow

Jones

Indices

and/or

its

licensors.

The

S&P

500

Index

is

determined,

composed

and

calculated

by

S&P

Dow

Jones

Indices

without

regard

to

the

fund.

S&P

Dow

Jones

Indices

has

no

obligation

to

take

the

needs

of

the

fund

or

the

owners

of

the

fund

into

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TIME

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AGREEMENTS

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ARRANGEMENTS

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INDICES

AND

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S&P

DOW

JONES

INDICES.

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------

Fixed-Income

Funds

TIAA-CREF

International

#### Annual

#### Report
TIAA-CREF

Funds

October

31,

2022

The

annual

report

contains

the

audited

financial

statements.

Fund

name

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Emerging

Markets

Debt

Fund

TEDNX

TEDHX

TEDPX

TEDTX

TEDLX

TEDVX

International

Bond

Fund

TIBWX

TIBNX

TIBLX

TIBVX

TIBEX

TIBUX

Contents

Understanding

this

report

Letter

to

investors

About

the

funds'

benchmarks

Fund

performance

Portfolio

managers'

comments

Emerging

Markets

Debt

Fund

International

Bond

Fund

Expense

examples

Portfolio

of

investments

Audited

financial

statements

Statements

of

assets

and

liabilities

Statements

of

operations

Statements

of

changes

in

net

assets

Financial

highlights

Notes

to

financial

statements

Report

of

Independent

Registered

Public

Accounting

Firm

Important

tax

information

Additional

fund

information

Trustees

and

officers

How

to

reach

us

Inside

back

cover

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

Understanding

this

report

For

the

purposes

of

this

report,

"TIAA-CREF

Funds"

refers

only

to

the

TIAA-CREF

International

Fixed-Income

Funds

listed

on

the

cover

of

this

report.

This

annual

report

contains

information

about

certain

TIAA-CREF

Funds

and

describes

their

results

for

the

twelve

months

ended

October

31,

2022

.

The

report

contains

four

main

sections:

A

letter

from

Brad

Finkle,

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds.

The

fund

performance

section

compares

each

fund's

investment

returns

with

those

of

its

benchmark

index.

The

portfolios

of

investments

list

the

issuers,

industries

and

types

of

securities

in

which

each

fund

had

investments

as

of

October

31,

2022

.

The

financial

statements

provide

detailed

information

about

the

operations

and

financial

condition

of

each

fund.

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

any

fund,

please

read

the

latest

prospectus.

As

always,

you

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

important

information,

please

visit

our

websites

at

TIAA.org

or

nuveen.com,

or

call

800-842-

2252

for

the

Institutional,

Advisor,

Premier

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

We

urge

you

to

read

the

prospectus

carefully

before

investing.

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

Letter

to

investors

![](g441435epub31937376813056.jpg)

Brad

Finkle

International

fixed-income

securities

posted

losses

for

the

twelve

months

ended

October

31,

2022. Foreign

investment-grade

fixed-rate

bonds

and

emerging-

markets

debt

both

declined

as

global

central

banks

tightened

their

monetary

policies

in

response

to

rising

inflation.

For

the

twelve

months:

International

investment-grade

fixed-rate

bonds

hedged

to

the

U.S.

dollar

returned

-9.0%,

as

measured

by

the

Bloomberg

Global

Aggregate

Ex-USD

Index

(Hedged).

Emerging-markets

debt

securities

returned

-24.2%,

as

measured

by

the

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified.

Please

see

for

benchmark

definitions.

The

TIAA-CREF

International

Bond

Fund

(Institutional

Class)

returned

-12.7%,

trailing

its

benchmark.

The

TIAA-CREF

Emerging

Markets

Debt

Fund

(Institutional

Class)

returned

-22.1%,

outperforming

its

benchmark.

Early

in

the

period,

international

investment-grade

bonds

were

rattled

by

the

Omicron

variant

and

Russia's

invasion

of

Ukraine.

Central

banks

moved

to

tighten

monetary

policies

as

persistent

global

inflation

became

a

pressing

concern.

The

European

Central

Bank

raised

its

benchmark

interest

rates

in

July,

September

and

October

of

2022,

and

the

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

Furthermore,

the

economy

of

the

19-nation

euro

area

expanded

in

each

calendar

quarter

during

the

period.

Emerging-markets

debt

securities

also

struggled

with

the

impact

of

the

Omicron

variant

early

in

the

period,

as

well

as

the

effects

of

slower

economic

growth

in

China.

Inflation,

higher

interest

rates

and

a

strong

U.S.

dollar

created

greater

headwinds

as

the

period

progressed.

Foreign

bonds

recorded

mixed

results

versus

U.S.

bonds

For

the

twelve

months,

foreign

bonds

registered

mixed

results

when

compared

with

the

performance

of

U.S.

bonds.

International

investment-grade

securities

outperformed

the

-15.7%

return

of

U.S.

investment-grade

fixed-rate

bonds,

as

measured

by

the

Bloomberg

U.S.

Aggregate

Bond

Index.

Emerging-markets

debt

trailed

the

-10.9%

return

of

U.S.

high-yield

bonds,

as

measured

by

the

ICE

BofA

BB-B

U.S.

Cash

Pay

High

Yield

Constrained

Index.

A

diversified

approach

to

market

uncertainty

Persistent

inflation

and

higher

interest

rates

are

affecting

financial

markets

around

the

world

for

the

first

time

in

many

years.

Furthermore,

geopolitical

events

have

added

an

element

of

uncertainty

to

the

market

environment

and

may

continue

to

pose

a

challenge.

As

such,

it

is

difficult

to

anticipate

how

these

factors

will

impact

markets

going

forward,

but

we

believe

a

portfolio

diversified

by

geography

and

asset

class

may

be

a

prudent

way

to

help

balance

the

risk

and

opportunities

ahead.

International

fixed-income

securities,

professionally

managed

in

a

mutual

fund

or

group

of

funds,

can

play

a

valuable

role

in

helping

investors

stay

on

track

to

reach

their

long-term

financial

goals.

Keep

in

mind,

diversification

may

reduce

volatility,

but

it

does

not

provide

a

guarantee

against

market

losses.

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

If

you

have

any

questions

about

your

investment

in

the

TIAA-CREF

International

Fixed-Income

Funds,

please

reach

out

to

your

financial

advisor

or

call

a

TIAA

financial

consultant

at

800-842-2252.

We

would

be

happy

to

assist

you.

Brad

Finkle

Principal

Executive

Officer

and

President

of

the

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

About

the

funds'

benchmarks

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

Emerging

Markets

Debt

Fund

The

J.P.

Morgan

Emerging

Markets

Bond

Index

Global

Diversified

(EMBI-GD

Index)

is

an

unmanaged,

market-capitalization-

weighted,

total-return

index

tracking

the

traded

market

for

U.S.-dollar-denominated

Brady

bonds,

Eurobonds

and

other

debt

instruments

issued

by

sovereign

and

quasi-sovereign

entities.

The

index

limits

the

weights

of

those

index

countries

with

larger

debt

stocks

by

only

including

a

specified

portion

of

these

countries'

eligible

current

face

amounts

of

debt

outstanding.

International

Bond

Fund

The

Bloomberg

Global

Aggregate

Ex-USD

Index

(Hedged)

is

an

unmanaged,

global,

investment-grade

fixed-rate

bond

market

index,

including

treasury,

government-related,

corporate

and

securitized

fixed-rate

bonds

from

both

developed-

and

emerging-

markets

issuers,

in

local

currencies.

Securities

are

SEC

registered,

taxable,

non-dollar

denominated

and

must

have

a

minimum

maturity

of

one

year.

Securities

must

be

rated

investment

grade

using

the

middle

rating

of

Moody's,

S&P

and

Fitch

after

dropping

the

highest

and

lowest

available

ratings.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

For

additional

details

about

the

benchmark

indexes,

please

read

the

funds'

latest

prospectus.

Information

has

been

obtained

from

sources

believed

to

be

reliable

but

J.P.

Morgan

does

not

guarantee

its

completeness

or

accuracy.

The

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified

(EMBI-GD

Index)

is

used

with

permission.

The

EMBI-GD

Index

may

not

be

copied,

used,

or

distributed

without

J.P.

Morgan's

prior

written

approval.

Copyright

2022,

J.P.

Morgan

Chase

&

Co.

All

rights

reserved.

Source:

Bloomberg

Index

Services

Limited.

BLOOMBERG®

is

a

trademark

and

service

mark

of

Bloomberg

Finance

L.P.

and

its

affiliates

(collectively,

"Bloomberg").

Bloomberg

or

Bloomberg's

licensors

own

all

proprietary

rights

in

the

Bloomberg

Indices.

Bloomberg

neither

approves

nor

endorses

this

material,

nor

guarantees

the

accuracy

or

completeness

of

any

information

herein,

nor

makes

any

warranty,

express

or

implied,

as

to

the

results

to

be

obtained

therefrom

and,

to

the

maximum

extent

allowed

by

law,

neither

shall

have

any

liability

or

responsibility

for

injury

or

damages

arising

in

connection

therewith.

Portfolio

managers'

comments

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

Emerging

Markets

Debt

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

Emerging

Markets

Debt

Fund returned

-22.07%

for

the

Institutional

Class,

compared

with

the

-24.19% return

of

its

benchmark,

the

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified.

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

Emerging-markets

debt

declined

amid

rising

global

interest

rates

and

geopolitical

conflict

Emerging-markets

(EM)

debt,

as

measured

by

the

J.P.

Morgan

index,

posted

a

loss

in

the

first

half

of

the

period

as

the

onset

of

the

highly

transmissible

Omicron

variant

of

COVID

rattled

markets.

Concerns

about

global

price

pressures

and

issues

related

to

slower

growth

in

China

contributed

to

the

losses.

Inflation

spikes

and

U.S.

interest-rate

increases

also

weighed

heavily

on

the

longer-duration

nature

of

the

asset

class.

These

concerns

were

further

exacerbated

by

the

Russian

invasion

of

Ukraine.

As

the

period

progressed,

major

central

banks

aggressively

shifted

toward

fighting

inflation

with

further

rate

increases

by

both

the

Federal

Reserve

and

European

Central

Bank.

Amid

a

strong

U.S.

dollar

and

higher

interest

rates,

all

segments

of

EM

debt

fell.

Furthermore,

Russia

was

officially

removed

from

market

indices.

Fund

surpassed

its

benchmark

For

the

period,

the

Fund

declined

but

outperformed

its

benchmark,

primarily

due

to

an

overweight

in

EM

corporate

credit

at

the

expense

of

EM

sovereigns.

In

a

market

of

rising

interest

rates

and

risk-off

sentiment,

EM

corporates

outperformed

due

to

their

shorter-duration,

higher-quality

tilt.

Local

market

positions

also

contributed,

along

with

the

Fund's

elevated

cash

level,

as

the

latter

mitigated

downside

volatility.

Within

corporates,

the

Fund's

positions

in

Russia,

with

no

exposure

to

Russian

quasi-sovereign

issuers,

were

better

insulated

from

the

fallout

in

Ukraine

and

were

less

impacted

by

U.S.

sanctions.

The

Fund's

overweight

positions

in

Brazil,

Turkey

and

South

Africa

were

also

strong

positive

drivers.

In

addition

to

Russian

positions,

security

selections

in

Israel,

Ukraine

and

Peru

also

contributed.

Within

sovereigns,

an

underweight

to

and

positions

within

Russia

were

the

most

significant

drivers

of

positive

relative

returns.

A

zero-weight

in

Belarus

was

also

beneficial.

Within

local

markets,

Russia

rebounded

from

a

sharp

selloff

and

was

a

substantial

contributor

to

the

Fund's

relative

return.

Brazilian

and

Uzbekistani

local

bonds

delivered

positive

absolute

returns

for

the

period.

By

contrast,

the

Fund's

performance

was

hurt

by

an

underweight

in

China

quasi-sovereigns

and

holdings

in

out-of-benchmark

Chinese

property

names,

which

were

pressured

by

tightening

liquidity

and

rising

defaults.

Country

allocations

within

the

Fund's

EM

sovereign

exposure

further

hindered

relative

results,

primarily

in

Ukraine,

Pakistan

and

Zambia.

Security

selection

within

corporates

also

detracted

from

relative

performance,

particularly

within

Colombia,

India

and

Turkey.

International

Bond

Fund

Performance

for

the

twelve

months

ended

October

31,

2022

The

International

Bond

Fund returned

-12.72%

for

the

Institutional

Class,

compared

with

the

-9.02% return

of

its

benchmark,

the

Bloomberg

Global

Aggregate

ex-USD

Index

(Hedged).

The

performance

table

shows

returns

for

all

share

classes

of

the

Fund.

International

fixed-income

markets

declined

as

interest

rates

rose

Global

fixed-income

markets

were

volatile

during

the

period,

struggling

against

inflation,

rising

interest

rates

and

concerns

about

a

global

economic

slowdown.

In

the

first

three

months,

international

bonds

were

slightly

negative

with

the

emergence

of

the

Omicron

variant

and

higher

inflation—the

latter

driving

central

banks

to

shift

their

interest-rate

stance

in

December

2021. In

the

spring

and

summer

of

2022,

international

bonds

posted

larger

declines

as

Russia's

invasion

of

Ukraine,

along

with

a

spike

in

oil

prices

and

other

inflationary

pressures,

drove

central

banks

to

focus

on

monetary

tightening.

As

inflation

persisted

through

the

end

of

the

period,

global

central

banks

continued

policies

of

aggressive

monetary

tightening,

causing

concern

among

investors

about

the

possibility

of

a

recession.

The

Federal

Reserve

increased

the

federal

funds

target

rate

five

times

to

3.00%–3.25%

during

the

twelve

months

ended

October

31,

2022,

while

the

European

Central

Bank

raised

its

benchmark

rates

three

times

for

an

overall

increase

of

2.00 percentage

points.

The

Bank

of

England

increased

its

benchmark

rate

to

2.25%.

Portfolio

managers'

comments

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

concluded

Fund

trailed

its

benchmark

For

the

twelve-month

period,

the

Fund

underperformed

its

benchmark.

The

primary

detractors

were

asset

allocation

within

government

credit

and

agency

debt,

especially

in

emerging

markets

(EM)—most

notably

in

Eastern

Europe

(Ukraine

and

Serbia).

The

Fund's

exposure

to

select

African

issuers

(Ghana,

Nigeria

and

Kenya)

and

exposure

to

Ecuador

and

El

Salvador

in

Latin

America

also

detracted.

Many

of

these

EM

countries

are

not

included

in

the

benchmark.

The

Fund's

overweight

to

corporate

credit

also

hurt

relative

performance.

Foreign

exchange

exposure

detracted

further

as

the

U.S.

dollar

rose—

particularly

the

Chinese

yuan,

Egyptian

pound,

Russian

ruble

and

Malaysian

ringgit.

On

the

positive

side,

yield

curve

positioning

in

select

markets

contributed

positively

to

the

Fund's

relative

return.

In

particular,

shorter-duration

positions

in

the

euro

area

and

the

United

Kingdom,

along

with

longer-duration

positions

in

Japan

and

Canada,

provided

substantial

benefits.

A

lack

of

exposure

to

duration

in

Switzerland

also

contributed.

Emerging

Markets

Debt

Fund

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

September

26,

2014)

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

Emerging

Markets

Debt

Fund

Inception

date

year

years

since

inception

gross

net

Institutional

Class

9/26/14

-

.07

%

-

.55

%

.45

%

.61

%

.61

%

Advisor

Class

12/4/15

-

.17

-

.60

.42

†

.69

.69

Premier

Class

9/26/14

-

.21

-

.70

.29

.80

.80

Retirement

Class

9/26/14

-

.21

-

.75

.22

.86

.86

Retail

Class

9/26/14

-

.32

-

.85

.12

.94

.94

Class

W

9/28/18

-

.65

-

.05

†

.77

†

.61

.00

J.P.

Morgan

Emerging

Markets

Bond

Index

(EMBI)

Global

Diversified

–

-

.19

-

.66

.64

‡

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

February

28,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

the

Advisor

Class

and

Class

W

that

is

prior

to

their

respective

inception

dates

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

the

Advisor

Class

and

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

these

two

classes

shown

for

these

periods

would

have

been

different

because

the

Advisor

Class

and

Class

W

have

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

Emerging

Markets

Debt

Fund

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

country

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

J.P

Morgan methodology,

which

uses

the

middle

rating

of

the

S&P, Moody's and Fitch

ratings

to

determine

an

instrument's

rating

category.

When

a

rating

from

only

two

agencies

is

available,

the

lower

is

used;

when

only

one

agency

rates

a

bond,

that

rating

is

used.

as

of

10/31/2022

Net

assets

$

506.84 million

Portfolio

turnover

rate

37%

Number

of

issues

Option-adjusted

duration

‡

5.98 years

Average

maturity

§

10.73 years

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio's

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond's

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

10/31/2022

Corporate

bonds

50.6 Government

bonds

44.3 Common

stocks

0.7 Structured

assets

0.5 Bank

loan

obligations

0.3 Short-term

investments,

other

assets

&

liabilities,

net

3.6 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

Mexico

9.4 South

Africa

5.4 Brazil

5.3 Indonesia

5.0 Turkey

3.9 Israel

3.3 Peru

3.3 Chile

3.3 India

3.2 Dominican

Republic

3.1 59

other

nations

49.6 Short-term

investments

5.2 Total

100.0 %

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2022

Less

than

year

3.1 1-3

years

6.4 3-5

years

16.9 5-10

years

44.2 Over

years

29.4 Total

100.0 %

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2022

Aaa/AAA

0.3 A/A

9.3 Baa/BBB

28.8 Ba/BB

28.9 B/B

21.6 Below

B/B

4.6 Non-rated

6.5 Total

100.0 International

Bond

Fund

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

Performance

as

of

October

31,

2022

The

returns

in

this

report

show

past

performance,

which

is

no

guarantee

of

future

results.

The

returns

do

not

reflect

taxes

that

a

shareholder

would

pay

on

fund

distributions

or

on

the

sale

of

fund

shares.

Returns

and

the

principal

value

of

your

investment

will

fluctuate.

Current

performance

may

be

higher

or

lower

than

that

shown,

and

you

may

have

a

gain

or

a

loss

when

you

redeem

your

shares.

For

current

performance

and

30-day

SEC

yield

information, including

performance

to

the

most

recent

month-end,

please

visit

TIAA.org.

Performance

may

reflect

waivers

or

reimbursements

of

certain

expenses.

Absent

these

waivers

or

reimbursement

arrangements,

performance

would

be

lower.

You

cannot

invest

directly

in

any

index.

Index

returns

do

not

include

a

deduction

for

fees

or

expenses.

$2,000,000

invested

at

Fund's

inception

Institutional

Class

(inception

August

5,

2016)

Ending

amounts

are

as

of

October

31,

2022. For

the

purpose

of

comparison,

the

graph

also

shows

the

change

in

the

value

of

the

Fund's

benchmark

during

the

same

period.

The

performance

of

the

other

share

classes

varies

due

to

differences

in

expense

charges.

Total

return

Average

annual

total

return

Annual

operating

expenses

\*

International

Bond

Fund

Inception

date

year

years

since

inception

gross

net

Institutional

Class

8/5/16

-12.72%

-0.08%

0.18%

0.61%

0.60%

Advisor

Class

8/5/16

-12.61

-0.14

0.15 0.71 0.71 Premier

Class

8/5/16

-12.89

-0.26

0.03 0.82 0.75 Retirement

Class

8/5/16

-12.97

-0.36

-0.07

0.85 0.85 Retail

Class

8/5/16

-13.01

-0.45

-0.16

1.51 0.95 Class

W

9/28/18

-12.23

0.39 †

0.57 †

0.60 0.00 Bloomberg

Global

Aggregate

ex-USD

Index

(Hedged)

–

-9.02

0.67 0.59 ‡

–

–

\*

The

gross

and

net

annual

operating

expenses

are

taken

from

the

Fund's

prospectus.

The

net

annual

operating

expenses

may

at

times

reflect

a

contractual

reimbursement

of

various

expenses.

The

expense

reimbursement

will

continue

through

at

least

July

31,

2023,

unless

changed

with

the

approval

of

the

Board

of

Trustees.

Without

these

reimbursements,

expenses

would

be

higher

and

returns

lower.

Refer

to

the

Financial

highlights

later

in

this

report

for

the

Fund's

expense

ratios

as

of

the

end

of

the

reporting

period.

†

The

performance

shown

for

Class

W

that

is

prior

to

its

inception

date

is

based

on

the

performance

of

the

Institutional

Class.

The

performance

for

these

periods

has

not

been

restated

to

reflect

the

actual

expenses

of

Class

W. If

these

actual

expenses

had

been

reflected,

the

performance

of

Class

W

shown

for

these

periods

would

have

been

different

because

Class

W

has

different

expenses

than

the

Institutional

Class.

‡

Performance

is

calculated

from

the

inception

date

of

the

Institutional

Class.

International

Bond

Fund

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

concluded

Fund

profile

Portfolio

composition

Holdings

by

country

Holdings

by

maturity

Holdings

by

credit

quality

Credit

quality

ratings

are

based

on

the

Bloomberg

Barclays

methodology,

which

uses

the

median

rating

of

those

compiled

by

the

Moody's,

Standard

&

Poor's

and Fitch

ratings

agencies.

If

ratings

are

available

from

only

two

of

these

agencies,

the

lower

rating

is

used.

When

only

one

rating

is

available,

that

one

is

used.

These

ratings

are

subject

to

change

without

notice.

as

of

10/31/2022

Net

assets

$

376.05 million

Portfolio

turnover

rate

39%

Number

of

issues

Option-adjusted

duration

‡

5.92 years

Average

maturity

§

7.29 years

‡

Option-adjusted

duration

estimates

how

much

the

value

of

a

bond

portfolio

would

be

affected

by

a

change

in

prevailing

interest

rates,

taking

into

account

the

options

embedded

in

the

individual

securities.

The

longer

a

portfolio's

duration,

the

more

sensitive

it

is

to

changes

in

interest

rates.

§

Average

maturity

is

a

simple

average

of

the

maturities

of

all

the

bonds

in

a

fund's

portfolio.

The

maturity

of

a

bond

is

the

amount

of

time

until

the

bond's

principal

becomes

due

or

payable.

Sector

%

of

net

assets

as

of

10/31/2022

Government

bonds

62.2 Corporate

bonds

21.4 Structured

assets

4.9 Bank

loan

obligations

0.4 Short-term

investments,

other

assets

&

liabilities,

net

11.1 Total

100.0 %

of

portfolio

investments

as

of

10/31/2022

United

States

13.1 China

11.6 Japan

10.0 Canada

4.6 United

Kingdom

4.5 France

3.9 Germany

3.7 Korea,

Republic

of

3.2 Spain

3.2 Belgium

2.6 61

other

nations

33.7 Short-term

investments

5.9 Total

100.0 %

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2022

Less

than

year

5.2 1-3

years

20.8 3-5

years

19.7 5-10

years

32.2 Over

years

22.1 Total

100.0 %

of

fixed-income

investments

(excluding

short-term

investments)

as

of

10/31/2022

Aaa/AAA

12.2 Aa/AA

14.3 A/A

35.4 Baa/BBB

22.3 Ba/BB

8.7 B/B

5.2 Below

B/B

0.5 Non-rated

1.4 Total

100.0 13

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

Expense

examples

All

shareholders

of

the

TIAA-CREF

Funds

incur

ongoing

costs,

including

management

fees

and

other

fund

expenses.

They

may

also

incur

transactional

costs

for

redemptions

or

account

maintenance

fees.

The

expense

examples

that

appear

in

this

report

are

intended

to

help

you

understand

your

ongoing

costs

only

(in

U.S.

dollars)

and

do

not

reflect

transactional

costs.

The

examples

are

designed

to

help

you

compare

these

ongoing

costs

with

the

ongoing

costs

of

investing

in

other

mutual

funds.

The

expenses

shown

do

not

include

account

maintenance

fees,

which

may

or

may

not

be

applicable,

as

described

in

the

prospectus.

If

such

fees

were

included,

your

total

costs

for

investing

in

the

funds

would

be

higher.

Note

also

that

shareholders

of

the

TIAA-CREF

Funds

do

not

incur

a

sales

charge

for

purchases,

reinvested

dividends

or

other

distributions.

The

examples

are

based

on

an

investment

of

$1,000

invested

at

the

beginning

of

the

six-month

period

and

held

for

the

entire

period

(May

1,

2022

–

October

31,

2022).

Actual

expenses

The

first

section

in

each

table

uses

the

Fund's

actual

expenses

and

its

actual

rate

of

return.

You

may

use

the

information

in

this

section,

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

incurred

during

the

period"

to

estimate

the

expenses

you

paid

during

the

six-month

period.

Some

funds

have

a

contractual

fee

reimbursement.

Had

these

not

been

in

effect,

fund

expenses

would

have

been

higher.

Hypothetical

example

for

comparison

purposes

The

second

section

in

each

table

shows

hypothetical

account

values

and

expenses

based

on

the

Fund's

actual

expense

ratio

for

each

share

class

for

the

six-month

period

and

an

assumed

5%-per-year

rate

of

return

before

expenses.

This

was

not

the

share

class'

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

Fund

with

the

costs

of

other

funds.

To

do

so,

compare

this

5%

hypothetical

example

with

the

5%

hypothetical

examples

that

appear

in

the

shareholder

reports

of

other

mutual

funds.

6.1 Emerging

Markets

Debt

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$889.80

$888.66

$889.12

$888.92

$888.40

$892.67

Expenses

incurred

during

the

period\*

$2.98

$3.33

$3.72

$3.93

$4.20

$0.01

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.05

$1,021.68

$1,021.27

$1,021.05

$1,020.76

$1,025.20

Expenses

incurred

during

the

period\*

$3.19

$3.56

$3.98

$4.20

$4.49

$0.01

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.63%

for

Institutional

Class,

0.70%

for

Advisor

Class,

0.78%

for

Premier

Class,

0.83%

for

Retirement

Class,

0.88%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Expense

examples

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

concluded

–

International

Bond

Fund

Share

Class

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

Actual

performance

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$941.45

$941.55

$940.01

$940.08

$939.76

$943.36

Expenses

incurred

during

the

period\*

$2.92

$3.32

$3.68

$4.17

$4.65

$0.02

Hypothetical

performance

(5%

annualized

return

before

expenses)

Beginning

account

value

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

$1,000.00

Ending

account

value

$1,022.19

$1,021.79

$1,021.42

$1,020.90

$1,020.41

$1,025.19

Expenses

incurred

during

the

period\*

$3.04

$3.45

$3.83

$4.35

$4.84

$0.02

\*

"Expenses

incurred

during

the

period"

is

based

on

the

Fund's

actual

expense

ratio

for

the

most

recent

fiscal

half-year,

multiplied

by

the

average

account

value

over

the

six-month

period,

multiplied

by

184/365.

There

were

days

in

the

six

months

ended

October

31,

2022. The

Fund's

annualized

six-month

expense

ratios

for

that

period

were

0.60%

for

Institutional

Class,

0.68%

for

Advisor

Class,

0.75%

for

Premier

Class,

0.85%

for

Retirement

Class,

0.95%

for

Retail

Class

and

0.00%

for

Class

W. The

expense

charges

of

one

or

more

of

the

Fund's

share

classes

may

reflect

a

waiver

and/or

reimbursement.

Please

see

the

prospectus

for

an

explanation,

including

the

date

on

which

this

reimbursement

is

scheduled

to

end.

Without

such

waiver

and/or

reimbursement,

the

expenses

of

the

affected

share

classes

would

be

higher

and

their

performance

lower.

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

0.3%

CHILE

-

.3

%

$

1,840,000

i

Coral-US

Co-Borrower

LLC

LIBOR

M

+

3.000%

.818

%

10/15/29

$

1,785,453

TOTAL

CHILE

1,785,453

TOTAL

BANK

LOAN

OBLIGATIONS

1,785,453

(Cost

$1,826,371)

BONDS

-

95.4%

CORPORATE

BONDS

-

.6

%

ARGENTINA

-

.2

%

1,950,000

g

YPF

S.A.

.950

07/21/27

1,182,675

TOTAL

ARGENTINA

1,182,675

BRAZIL

-

.8

%

2,550,000

g

Arcos

Dorados

BV

.125

05/27/29

2,346,000

3,000,000

g

B3

S.A.-Brasil

Bolsa

Balcao

.125

09/20/31

2,390,340

2,500,000

g

Banco

BTG

Pactual

S.A.

.750

01/11/26

2,187,500

2,750,000

g

Itau

Unibanco

Holding

S.A.

.625

N/A‡

2,111,312

2,250,000

g

JSM

Global

Sarl

.750

10/20/30

1,558,125

1,925,000

e,g

Natura

&Co

Luxembourg

Holdings

Sarl

.000

04/19/29

1,604,074

57,284

g

Odebrecht

Offshore

Drilling

Finance

Ltd

.720

12/01/22

55,737

4,512,059

†,g,o

Odebrecht

Offshore

Drilling

Finance

Ltd

.720

12/01/26

1,003,933

527,012

†,g

Odebrecht

Oil

&

Gas

Finance

Ltd

.000

N/A‡

791

714,000

o

Oi

S.A.

.000

07/27/25

185,678

2,000,000

Petrobras

Global

Finance

BV

.900

03/19/49

1,652,000

600,000

e

Petrobras

Global

Finance

BV

.500

06/10/51

424,248

1,702,400

g

Rio

Oil

Finance

Trust

.200

04/06/28

1,702,400

3,000,000

e,g

Rumo

Luxembourg

Sarl

.200

01/18/32

2,272,500

TOTAL

BRAZIL

19,494,638

CHILE

-

.0

%

2,391,251

g

Alfa

Desarrollo

S.p.A

.550

09/27/51

1,529,900

2,000,000

g

Banco

del

Estado

de

Chile

.704

01/09/25

1,862,500

2,325,000

g

Celulosa

Arauco

y

Constitucion

S.A.

.150

01/29/50

1,693,149

2,250,000

g

Cia

Cervecerias

Unidas

S.A.

.350

01/19/32

1,805,625

2,000,000

g

Colbun

S.A.

.150

01/19/32

1,540,000

2,150,000

g

Corp

Nacional

del

Cobre

de

Chile

.375

02/05/49

1,583,680

1,675,000

g

Corp

Nacional

del

Cobre

de

Chile

.150

01/15/51

1,016,090

2,075,000

g

Embotelladora

Andina

S.A.

.950

01/21/50

1,522,235

2,000,000

e,g

Empresa

de

los

Ferrocarriles

del

Estado

.068

08/18/50

1,102,752

1,775,000

g

Empresa

Nacional

del

Petroleo

.450

09/16/31

1,379,636

TOTAL

CHILE

15,035,567

CHINA

-

.7

%

2,500,000

g

ENN

Clean

Energy

International

Investment

Ltd

.375

05/12/26

2,034,386

2,050,000

e,g

Lenovo

Group

Ltd

.421

11/02/30

1,406,851

1,000,000

†,q

Shimao

Group

Holdings

Ltd

.750

07/03/23

45,233

2,600,000

†

Shimao

Group

Holdings

Ltd

.200

01/30/25

123,500

TOTAL

CHINA

3,609,970

COLOMBIA

-

.2

%

1,675,000

Bancolombia

S.A.

.625

12/18/29

1,360,937

1,375,000

Ecopetrol

S.A.

.625

11/02/31

947,599

2,700,000

Ecopetrol

S.A.

.875

11/02/51

1,604,907

2,000,000

g

Empresas

Publicas

de

Medellin

ESP

.250

07/18/29

1,426,418

1,000,000

g

Empresas

Publicas

de

Medellin

ESP

.375

02/15/31

677,740

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

COLOMBIA—continued

$

3,000,000

g

EnfraGen

Energia

Sur

S.A.

.375

%

12/30/30

$

1,530,000

2,075,000

g

Grupo

Aval

Ltd

.375

02/04/30

1,438,888

725,000

g

Millicom

International

Cellular

S.A.

.500

04/27/31

543,510

2,200,000

g

SierraCol

Energy

Andina

LLC

.000

06/15/28

1,472,900

TOTAL

COLOMBIA

11,002,899

COSTA

RICA

-

.7

%

2,073,812

g

Autopistas

del

Sol

S.A.

.375

12/30/30

1,834,709

1,800,000

g

Instituto

Costarricense

de

Electricidad

.750

10/07/31

1,575,208

TOTAL

COSTA

RICA

3,409,917

DOMINICAN

REPUBLIC

-

.9

%

2,500,000

g

Aeropuertos

Dominicanos

Siglo

XXI

S.A.

.750

03/30/29

2,197,225

2,975,000

g

AES

Andres

BV

.700

05/04/28

2,392,128

TOTAL

DOMINICAN

REPUBLIC

4,589,353

GHANA

-

.6

%

1,000,000

g

Kosmos

Energy

Ltd

.750

05/01/27

807,500

1,000,000

g

Tullow

Oil

plc

.000

03/01/25

650,000

1,887,000

g

Tullow

Oil

plc

.250

05/15/26

1,605,875

TOTAL

GHANA

3,063,375

GUATEMALA

-

.8

%

1,830,000

g

CNTL

AMR

BOTTLING

CORP

.250

04/27/29

1,609,727

1,225,000

g

CT

Trust

.125

02/03/32

978,564

1,650,000

g

Investment

Energy

Resources

Ltd

.250

04/26/29

1,388,327

TOTAL

GUATEMALA

3,976,618

INDIA

-

.9

%

2,100,000

g

Adani

Ports

&

Special

Economic

Zone

Ltd

.375

07/03/29

1,559,673

1,800,000

g

Adani

Ports

&

Special

Economic

Zone

Ltd

.100

02/02/31

1,156,661

1,237,565

g

Azure

Power

Energy

Ltd

.575

08/19/26

893,916

6,425,000

g

Indian

Railway

Finance

Corp

Ltd

.570

01/21/32

4,998,948

3,000,000

e,g

Network

i2i

Ltd

.975

N/A‡

2,373,930

2,700,000

g

ReNew

Wind

Energy

AP2

.500

07/14/28

1,997,523

2,075,000

e,g

UltraTech

Cement

Ltd

.800

02/16/31

1,533,761

TOTAL

INDIA

14,514,412

INDONESIA

-

.2

%

200,000

Bank

Mandiri

Persero

Tbk

PT

.750

04/11/24

192,955

3,860,000

g

Freeport

Indonesia

PT

.315

04/14/32

3,247,225

2,000,000

g

Freeport

Indonesia

PT

.200

04/14/52

1,507,200

2,000,000

g

Medco

Laurel

Tree

Pte

Ltd

.950

11/12/28

1,534,053

1,000,000

g

Medco

Platinum

Road

Pte

Ltd

.750

01/30/25

955,000

1,000,000

g

Pelabuhan

Indonesia

II

PT

.250

05/05/25

953,000

2,000,000

g

Pelabuhan

Indonesia

II

PT

.375

05/05/45

1,740,000

3,000,000

g

Pertamina

Persero

PT

.100

08/27/30

2,427,916

1,250,000

g

Pertamina

Persero

PT

.700

07/30/49

897,614

2,000,000

g

Perusahaan

Listrik

Negara

PT

.250

10/24/42

1,453,890

2,000,000

g

Perusahaan

Listrik

Negara

PT

.150

05/21/48

1,575,000

985,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

.400

06/06/27

939,713

4,250,000

g

Saka

Energi

Indonesia

PT

.450

05/05/24

3,954,555

TOTAL

INDONESIA

21,378,121

ISRAEL

-

.4

%

3,000,000

g

Bank

Hapoalim

BM

.255

01/21/32

2,458,950

2,125,000

g

Bank

Leumi

Le-Israel

BM

.125

07/27/27

2,059,946

3,141,000

g

Energean

Israel

Finance

Ltd

.375

03/30/28

2,755,276

2,000,000

g

Israel

Chemicals

Ltd

.375

05/31/38

1,871,152

2,750,000

g

Israel

Electric

Corp

Ltd

.750

02/22/32

2,288,765

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ISRAEL—continued

$

2,600,000

g

Leviathan

Bond

Ltd

.750

%

06/30/30

$

2,321,924

EUR

2,750,000

Teva

Pharmaceutical

Finance

Netherlands

II

BV

.375

05/09/30

2,183,691

1,335,000

e

Teva

Pharmaceutical

Finance

Netherlands

III

BV

.125

05/09/29

1,145,697

TOTAL

ISRAEL

17,085,401

JAMAICA

-

.0

%

456,719

g,o

Digicel

Group

0.5 Ltd

.000

N/A‡

31,970

TOTAL

JAMAICA

31,970

KAZAKHSTAN

-

.0

%

KZT

453,000,000

g

Development

Bank

of

Kazakhstan

JSC

.950

05/04/23

913,586

2,200,000

g

Development

Bank

of

Kazakhstan

JSC

.750

05/12/25

2,181,793

1,800,000

g

KazMunayGas

National

Co

JSC

.750

04/19/27

1,557,380

1,550,000

g

KazMunayGas

National

Co

JSC

.375

10/24/48

1,112,649

2,475,000

g

KazTransGas

JSC

.375

09/26/27

2,029,346

2,800,000

g

Tengizchevroil

Finance

Co

International

Ltd

.000

08/15/26

2,246,800

TOTAL

KAZAKHSTAN

10,041,554

KOREA,

REPUBLIC

OF

-

.3

%

1,800,000

e,g

Shinhan

Bank

Co

Ltd

.375

04/13/32

1,532,575

TOTAL

KOREA,

REPUBLIC

OF

1,532,575

MACAU

-

.3

%

2,000,000

Sands

China

Ltd

.750

08/08/31

1,308,600

TOTAL

MACAU

1,308,600

MALAYSIA

-

.0

%

3,000,000

1MDB

Global

Investments

Ltd

.400

03/09/23

2,939,411

3,000,000

g

Genm

Capital

Labuan

Ltd

.882

04/19/31

1,802,085

4,045,000

g

Misc

Capital

Two

Labuan

Ltd

.750

04/06/27

3,672,239

2,000,000

g

Petronas

Capital

Ltd

.500

04/21/30

1,779,276

TOTAL

MALAYSIA

10,193,011

MEXICO

-

.4

%

800,000

g

BBVA

Bancomer

S.A.

.350

11/12/29

754,000

2,000,000

g

BBVA

Bancomer

S.A.

.125

01/18/33

1,617,625

1,875,000

g

Cemex

SAB

de

C.V.

.875

07/11/31

1,427,184

2,025,000

g

Cemex

SAB

de

C.V.

.125

N/A‡

1,671,739

2,500,000

g

Comision

Federal

de

Electricidad

.688

05/15/29

2,109,375

2,000,000

e,g

Comision

Federal

de

Electricidad

.348

02/09/31

1,477,558

1,300,000

g

Electricidad

Firme

de

Mexico

Holdings

S.A.

de

C.V.

.900

11/20/26

1,033,540

8,833,000

g

Grupo

Aeromexico

SAB

de

C.V.

.500

03/17/27

7,265,142

3,350,000

g

Grupo

Axo

SAPI

de

C.V.

.750

06/08/26

2,657,320

1,000,000

g

Mexico

City

Airport

Trust

.875

04/30/28

845,000

3,630,000

g

Mexico

Remittances

Funding

Fiduciary

Estate

Management

Sarl

.875

01/15/28

2,972,036

2,800,000

g

Nemak

SAB

de

C.V.

.625

06/28/31

2,037,000

2,000,000

Petroleos

Mexicanos

.250

01/15/25

1,860,160

4,647,000

Petroleos

Mexicanos

.840

01/23/30

3,708,910

6,219,000

Petroleos

Mexicanos

.700

02/16/32

4,703,119

2,075,000

Petroleos

Mexicanos

.350

02/12/48

1,190,677

TOTAL

MEXICO

37,330,385

MOROCCO

-

.6

%

650,000

g

OCP

S.A.

.750

06/23/31

484,906

4,450,000

g

OCP

S.A.

.125

06/23/51

2,706,988

TOTAL

MOROCCO

3,191,894

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

NETHERLANDS

-

.1

%

RUB

158,400,000

†,g

VEON

Holdings

BV

.125

%

09/16/26

$

382,917

TOTAL

NETHERLANDS

382,917

NIGERIA

-

.3

%

$

1,775,000

g

Access

Bank

plc

.125

09/21/26

1,295,136

TOTAL

NIGERIA

1,295,136

OMAN

-

.4

%

2,500,000

g

OQ

SAOC

.125

05/06/28

2,252,259

TOTAL

OMAN

2,252,259

PANAMA

-

.7

%

2,400,000

g

Aeropuerto

Internacional

de

Tocumen

S.A.

.125

08/11/61

1,623,321

1,175,000

g

Cable

Onda

S.A.

.500

01/30/30

961,150

1,569,573

g

UEP

Penonome

II

S.A.

.500

10/01/38

1,161,484

TOTAL

PANAMA

3,745,955

PERU

-

.1

%

PEN

9,000,000

g

Alicorp

SAA

.875

04/17/27

2,090,212

1,225,000

g

Cia

de

Minas

Buenaventura

SAA

.500

07/23/26

1,014,892

1,900,000

g

Consorcio

Transmantaro

S.A.

.200

04/11/38

1,634,000

1,305,000

g

Inkia

Energy

Ltd

.875

11/09/27

1,162,674

903,442

g

Lima

Metro

Line

Finance

Ltd

.350

04/05/36

743,081

2,000,000

g

Peru

LNG

Srl

.375

03/22/30

1,572,600

2,750,000

g

Petroleos

del

Peru

S.A.

.625

06/19/47

1,763,933

534,000

g

Volcan

Cia

Minera

SAA

.375

02/11/26

448,170

TOTAL

PERU

10,429,562

QATAR

-

.2

%

1,000,000

g

Qatar

Petroleum

.375

09/12/26

879,161

500,000

g

Qatar

Petroleum

.250

07/12/31

400,702

TOTAL

QATAR

1,279,863

SAUDI

ARABIA

-

.1

%

2,500,000

g

EIG

Pearl

Holdings

Sarl

.387

11/30/46

1,697,802

300,000

g

KSA

Sukuk

Ltd

.268

10/25/28

302,060

2,500,000

e,g

Saudi

Arabian

Oil

Co

.375

04/16/49

1,945,260

3,000,000

g

Saudi

Arabian

Oil

Co

.250

11/24/50

1,880,660

TOTAL

SAUDI

ARABIA

5,825,782

SINGAPORE

-

.5

%

2,800,000

g

United

Overseas

Bank

Ltd

.059

04/07/25

2,674,567

TOTAL

SINGAPORE

2,674,567

SOUTH

AFRICA

-

.3

%

1,725,000

AngloGold

Ashanti

Holdings

plc

.375

11/01/28

1,393,125

3,050,000

AngloGold

Ashanti

Holdings

plc

.750

10/01/30

2,338,398

3,000,000

g

Eskom

Holdings

SOC

Ltd

.750

08/06/23

2,929,724

2,000,000

g

Eskom

Holdings

SOC

Ltd

.125

02/11/25

1,862,811

2,875,000

g

Eskom

Holdings

SOC

Ltd

.350

08/10/28

2,574,133

1,600,000

g

Eskom

Holdings

SOC

Ltd

.450

08/10/28

1,399,973

2,300,000

g

Gold

Fields

Orogen

Holdings

BVI

Ltd

.125

05/15/29

2,150,306

2,000,000

g

MTN

Mauritius

Investment

Ltd

.500

10/13/26

1,906,271

TOTAL

SOUTH

AFRICA

16,554,741

THAILAND

-

.4

%

2,600,000

g

Bangkok

Bank

PCL

.466

09/23/36

1,811,049

TOTAL

THAILAND

1,811,049

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TRINIDAD

AND

TOBAGO

-

.7

%

$

2,600,000

g

Heritage

Petroleum

Co

Ltd

.000

%

08/12/29

$

2,735,200

850,000

g

National

Gas

Company

of

Trinidad

and

Tobago

Limited

.050

01/15/36

777,750

TOTAL

TRINIDAD

AND

TOBAGO

3,512,950

TURKEY

-

.1

%

2,000,000

g

Akbank

T.A.S.

.800

02/06/26

1,808,703

500,000

g

Akbank

T.A.S.

.797

04/27/28

448,706

4,100,000

g

Anadolu

Efes

Biracilik

Ve

Malt

Sanayii

AS.

.375

06/29/28

2,897,090

2,000,000

g

Turkiye

Garanti

Bankasi

AS.

.177

05/24/27

1,706,004

2,550,000

g

Turkiye

Vakiflar

Bankasi

TAO

.500

10/01/26

2,132,462

2,325,000

g

Ulker

Biskuvi

Sanayi

AS.

.950

10/30/25

1,622,269

TOTAL

TURKEY

10,615,234

UKRAINE

-

.1

%

2,000,000

†,g

NAK

Naftogaz

Ukraine

via

Kondor

Finance

plc

.625

11/08/26

312,668

109,375

Ukreximbank

Via

Biz

Finance

plc

.750

01/22/25

35,547

750,000

†,g

Ukreximbank

Via

Biz

Finance

plc

.750

01/22/25

243,750

TOTAL

UKRAINE

591,965

UNITED

ARAB

EMIRATES

-

.7

%

1,975,000

g

Abu

Dhabi

Crude

Oil

Pipeline

LLC

.600

11/02/47

1,692,999

1,325,000

g

DAE

Funding

LLC

.375

03/20/28

1,115,824

2,100,000

g

DP

World

Ltd

.625

09/25/48

1,732,571

2,773,980

g

Galaxy

Pipeline

Assets

Bidco

Ltd

.160

03/31/34

2,257,006

2,483,025

g

Sweihan

PV

Power

Co

PJSC

.625

01/31/49

1,886,864

TOTAL

UNITED

ARAB

EMIRATES

8,685,264

UNITED

STATES

-

.6

%

1,650,000

g

GCC

SAB

de

C.V.

.614

04/20/32

1,299,375

2,500,000

g

Sempra

Infrastructure

Partners

LP

.250

01/15/32

1,956,713

TOTAL

UNITED

STATES

3,256,088

ZAMBIA

-

.3

%

1,700,000

g

First

Quantum

Minerals

Ltd

.875

10/15/27

1,580,707

TOTAL

ZAMBIA

1,580,707

TOTAL

CORPORATE

BONDS

256,466,974

(Cost

$324,611,782)

GOVERNMENT

BONDS

-

.3

%

ANGOLA

-

.5

%

2,250,000

g

Angolan

Government

International

Bond

.250

05/09/28

1,895,317

1,775,000

g

Angolan

Government

International

Bond

.000

11/26/29

1,442,731

3,125,000

g

Angolan

Government

International

Bond

.750

04/14/32

2,517,649

2,500,000

g

Angolan

Government

International

Bond

.375

05/08/48

1,898,011

TOTAL

ANGOLA

7,753,708

ARGENTINA

-

.4

%

1,300,000

Argentine

Republic

Government

International

Bond

.875

01/09/38

336,359

5,134,989

Argentine

Republic

Government

International

Bond

(Step

Bond)

.500

07/09/35

1,019,152

2,949,981

g

Provincia

de

Buenos

Aires

(Step

Bond)

.900

09/01/37

888,376

TOTAL

ARGENTINA

2,243,887

AZERBAIJAN

-

.5

%

2,500,000

g

Southern

Gas

Corridor

CJSC

.875

03/24/26

2,458,246

TOTAL

AZERBAIJAN

2,458,246

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BAHRAIN

-

.3

%

$

1,000,000

g

Bahrain

Government

International

Bond

.375

%

05/14/30

$

951,494

1,000,000

g

Bahrain

Government

International

Bond

.500

09/20/47

796,661

TOTAL

BAHRAIN

1,748,155

BARBADOS

-

.4

%

2,314,800

g

Barbados

Government

International

Bond

.500

10/01/29

2,072,171

TOTAL

BARBADOS

2,072,171

BENIN

-

.1

%

EUR

1,125,000

g

Benin

Government

International

Bond

.875

01/19/52

693,996

TOTAL

BENIN

693,996

BERMUDA

-

.6

%

1,175,000

g

Bermuda

Government

International

Bond

.750

02/15/29

1,117,514

2,300,000

g

Bermuda

Government

International

Bond

.375

08/20/30

1,814,241

TOTAL

BERMUDA

2,931,755

BRAZIL

-

.6

%

BRL

2,500,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

.000

01/01/23

480,924

BRL

5,000,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

.000

01/01/25

935,497

BRL

5,982,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

.000

01/01/27

1,097,488

3,100,000

e

Brazilian

Government

International

Bond

.875

06/12/30

2,609,884

1,100,000

Brazilian

Government

International

Bond

.000

01/27/45

789,586

1,025,000

Brazilian

Government

International

Bond

.625

02/21/47

777,384

2,000,000

Brazilian

Government

International

Bond

.750

01/14/50

1,336,067

TOTAL

BRAZIL

8,026,830

CAMEROON

-

.1

%

EUR

1,000,000

g

Republic

of

Cameroon

International

Bond

.950

07/07/32

647,145

TOTAL

CAMEROON

647,145

CHINA

-

.6

%

CNY

17,000,000

China

Government

Bond

.120

12/05/26

2,395,896

CNY

3,200,000

China

Government

Bond

.270

11/19/30

456,316

TOTAL

CHINA

2,852,212

COLOMBIA

-

.9

%

2,000,000

Colombia

Government

International

Bond

.000

01/30/30

1,410,928

2,925,000

Colombia

Government

International

Bond

.250

04/22/32

1,941,179

1,300,000

Colombia

Government

International

Bond

.625

02/26/44

841,850

950,000

Colombia

Government

International

Bond

.200

05/15/49

575,979

TOTAL

COLOMBIA

4,769,936

COSTA

RICA

-

.6

%

2,500,000

g

Costa

Rica

Government

International

Bond

.625

04/30/43

1,812,792

1,500,000

g

Costa

Rica

Government

International

Bond

.000

04/04/44

1,273,618

TOTAL

COSTA

RICA

3,086,410

COTE

D'IVOIRE

-

.6

%

3,636,281

g

Ivory

Coast

Government

International

Bond

(Step

Bond)

.750

12/31/32

3,217,157

TOTAL

COTE

D'IVOIRE

3,217,157

DOMINICAN

REPUBLIC

-

.2

%

2,050,000

g

Dominican

Republic

Government

International

Bond

.875

01/29/26

2,009,295

DOP

22,500,000

g

Dominican

Republic

Government

International

Bond

.750

06/05/26

397,708

DOP

27,000,000

g

Dominican

Republic

Government

International

Bond

.250

02/05/27

481,990

DOP

74,000,000

g

Dominican

Republic

Government

International

Bond

.375

01/11/30

1,233,333

4,000,000

g

Dominican

Republic

Government

International

Bond

.875

09/23/32

3,082,022

3,060,000

g

Dominican

Republic

Government

International

Bond

.450

04/30/44

2,563,470

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

DOMINICAN

REPUBLIC—continued

$

1,720,000

g

Dominican

Republic

International

Bond

.500

%

02/22/29

$

1,501,791

TOTAL

DOMINICAN

REPUBLIC

11,269,609

ECUADOR

-

.8

%

744,229

g

Ecuador

Government

International

Bond

.000

07/31/30

231,330

3,634,600

g

Ecuador

Government

International

Bond

(Step

Bond)

.500

07/31/30

1,929,817

4,637,020

g

Ecuador

Government

International

Bond

(Step

Bond)

.500

07/31/35

1,694,809

TOTAL

ECUADOR

3,855,956

EGYPT

-

.2

%

525,000

g

Egypt

Government

International

Bond

.550

11/20/23

508,235

1,500,000

g

Egypt

Government

International

Bond

.800

09/30/27

1,092,382

4,275,000

g

Egypt

Government

International

Bond

.600

03/01/29

3,066,885

4,575,000

g

Egypt

Government

International

Bond

.053

01/15/32

2,902,682

4,725,000

g

Egypt

Government

International

Bond

.500

01/31/47

2,791,530

1,000,000

g

Egypt

Government

International

Bond

.150

11/20/59

579,902

TOTAL

EGYPT

10,941,616

EL

SALVADOR

-

.4

%

2,000,000

g

El

Salvador

Government

International

Bond

.650

06/15/35

710,126

3,100,000

g

El

Salvador

Government

International

Bond

.625

02/01/41

1,063,087

TOTAL

EL

SALVADOR

1,773,213

GHANA

-

.5

%

3,325,000

g

Ghana

Government

International

Bond

.000

04/07/25

947,625

3,325,000

g

Ghana

Government

International

Bond

.750

04/07/29

959,395

2,025,000

g

Ghana

Government

International

Bond

.750

03/11/61

573,075

TOTAL

GHANA

2,480,095

GUATEMALA

-

.6

%

525,000

g

Guatemala

Government

Bond

.900

06/01/30

476,494

2,000,000

g

Guatemala

Government

Bond

.700

10/07/33

1,514,419

1,500,000

g

Guatemala

Government

Bond

.125

06/01/50

1,287,123

TOTAL

GUATEMALA

3,278,036

HONDURAS

-

.1

%

775,000

g

Honduras

Government

International

Bond

.250

01/19/27

609,501

TOTAL

HONDURAS

609,501

HUNGARY

-

.8

%

2,375,000

g

Hungary

Government

International

Bond

.250

06/16/29

2,185,705

1,850,000

g

Hungary

Government

International

Bond

.125

09/22/31

1,322,491

750,000

g

Hungary

Government

International

Bond

.125

09/21/51

409,153

TOTAL

HUNGARY

3,917,349

INDIA

-

.4

%

2,700,000

g

Export-Import

Bank

of

India

.250

01/13/31

1,978,162

TOTAL

INDIA

1,978,162

INDONESIA

-

.8

%

1,000,000

g

Indonesia

Government

International

Bond

.625

04/15/43

838,315

3,600,000

g

Perusahaan

Penerbit

SBSN

Indonesia

III

.700

06/06/32

3,363,597

TOTAL

INDONESIA

4,201,912

IRAQ

-

.9

%

2,325,000

g

Iraq

Government

International

Bond

.752

03/09/23

2,284,421

2,801,563

g

Iraq

Government

International

Bond

.800

01/15/28

2,378,211

TOTAL

IRAQ

4,662,632

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

JAMAICA

-

.0

%

$

2,725,000

Jamaica

Government

International

Bond

.000

%

03/15/39

$

3,000,549

1,810,000

Jamaica

Government

International

Bond

.875

07/28/45

1,929,146

TOTAL

JAMAICA

4,929,695

JORDAN

-

.0

%

2,550,000

e,g

Jordan

Government

International

Bond

.950

07/07/25

2,379,866

1,500,000

g

Jordan

Government

International

Bond

.850

07/07/30

1,241,611

2,000,000

g

Jordan

Government

International

Bond

.375

10/10/47

1,492,221

TOTAL

JORDAN

5,113,698

KAZAKHSTAN

-

.2

%

1,250,000

g

Kazakhstan

Government

International

Bond

.500

07/21/45

1,105,160

TOTAL

KAZAKHSTAN

1,105,160

KENYA

-

.6

%

1,950,000

g

Kenya

Government

International

Bond

.875

06/24/24

1,694,583

1,125,000

g

Kenya

Government

International

Bond

.300

01/23/34

712,801

1,325,000

g

Kenya

Government

International

Bond

.250

02/28/48

843,938

TOTAL

KENYA

3,251,322

KOREA,

REPUBLIC

OF

-

.4

%

3,102,000

e

Export-Import

Bank

of

Korea

.500

06/29/41

2,041,395

TOTAL

KOREA,

REPUBLIC

OF

2,041,395

LEBANON

-

.1

%

3,200,000

†,q

Lebanon

Government

International

Bond

.250

11/04/24

188,672

3,800,000

†,q

Lebanon

Government

International

Bond

.850

03/23/27

225,264

TOTAL

LEBANON

413,936

MALAYSIA

-

.3

%

MYR

7,100,000

Malaysia

Government

Bond

.582

07/15/32

1,408,435

TOTAL

MALAYSIA

1,408,435

MEXICO

-

.7

%

MXN

38,600,000

Mexican

Bonos

.500

06/03/27

1,782,503

MXN

39,900,000

Mexican

Bonos

.500

11/18/38

1,773,165

1,675,000

e

Mexico

Government

International

Bond

.250

04/16/30

1,407,877

3,500,000

Mexico

Government

International

Bond

.280

08/14/41

2,532,561

1,850,000

Mexico

Government

International

Bond

.400

02/12/52

1,262,295

TOTAL

MEXICO

8,758,401

MONGOLIA

-

.4

%

2,425,000

g

Mongolia

Government

International

Bond

.125

04/07/26

1,854,246

550,000

e,g

Mongolia

Government

International

Bond

.450

07/07/31

347,736

TOTAL

MONGOLIA

2,201,982

MOROCCO

-

.7

%

1,575,000

g

Morocco

Government

International

Bond

.375

12/15/27

1,294,728

1,775,000

g

Morocco

Government

International

Bond

.000

12/15/32

1,280,031

1,450,000

g

Morocco

Government

International

Bond

.500

12/11/42

1,090,805

TOTAL

MOROCCO

3,665,564

NAMIBIA

-

.3

%

1,700,000

g

Namibia

Government

International

Bond

.250

10/29/25

1,521,442

TOTAL

NAMIBIA

1,521,442

NIGERIA

-

.2

%

1,550,000

g

Nigeria

Government

International

Bond

.500

11/28/27

1,098,548

2,075,000

g

Nigeria

Government

International

Bond

.375

03/24/29

1,501,265

1,850,000

g

Nigeria

Government

International

Bond

.875

02/16/32

1,192,756

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

NIGERIA—continued

$

1,500,000

g

Nigeria

Government

International

Bond

.375

%

09/28/33

$

903,832

2,000,000

g

Nigeria

Government

International

Bond

.696

02/23/38

1,168,633

TOTAL

NIGERIA

5,865,034

OMAN

-

.6

%

1,900,000

g

Oman

Government

International

Bond

.375

03/08/27

1,812,689

2,550,000

g

Oman

Government

International

Bond

.750

10/28/27

2,556,474

500,000

g

Oman

Government

International

Bond

.000

08/01/29

474,419

1,500,000

g

Oman

Government

International

Bond

.250

01/25/31

1,429,049

1,200,000

g

Oman

Government

International

Bond

.500

03/08/47

985,238

1,025,000

g

Oman

Government

International

Bond

.750

01/17/48

858,249

TOTAL

OMAN

8,116,118

PAKISTAN

-

.6

%

1,110,000

e,g

Pakistan

Global

Sukuk

Programme

Co

Ltd

.950

01/31/29

568,875

3,200,000

g

Pakistan

Government

International

Bond

.875

12/05/27

1,000,000

1,700,000

g

Pakistan

Government

International

Bond

.375

04/08/31

528,972

1,000,000

g

Pakistan

Government

International

Bond

.875

04/08/51

304,250

2,000,000

Pakistan

Water

&

Power

Development

Authority

.500

06/04/31

606,000

TOTAL

PAKISTAN

3,008,097

PANAMA

-

.5

%

2,850,000

Panama

Notas

del

Tesoro

.750

04/17/26

2,669,025

TOTAL

PANAMA

2,669,025

PARAGUAY

-

.4

%

2,425,000

g

Paraguay

Government

International

Bond

.739

01/29/33

1,804,905

525,000

g

Republic

of

Paraguay

.100

08/11/44

453,936

TOTAL

PARAGUAY

2,258,841

PERU

-

.3

%

3,000,000

g

Fondo

MIVIVIENDA

S.A.

.625

04/12/27

2,772,878

PEN

2,025,000

g

Peru

Government

International

Bond

.062

08/12/32

432,790

1,645,000

Peruvian

Government

International

Bond

.000

01/15/34

1,227,736

PEN

4,150,000

g

Peruvian

Government

International

Bond

.400

08/12/34

792,828

1,800,000

Peruvian

Government

International

Bond

.300

03/11/41

1,210,530

TOTAL

PERU

6,436,762

PHILIPPINES

-

.3

%

1,975,000

Philippine

Government

International

Bond

.200

03/29/47

1,532,120

TOTAL

PHILIPPINES

1,532,120

POLAND

-

.3

%

1,525,000

Poland

Government

International

Bond

.250

04/06/26

1,430,013

TOTAL

POLAND

1,430,013

QATAR

-

.9

%

2,000,000

g

Qatar

Government

International

Bond

.750

04/16/30

1,857,344

925,000

g

Qatar

Government

International

Bond

.103

04/23/48

857,215

2,200,000

g

Qatar

Government

International

Bond

.400

04/16/50

1,842,150

TOTAL

QATAR

4,556,709

REPUBLIC

OF

SERBIA

-

.2

%

1,675,000

g

Serbia

International

Bond

.125

12/01/30

1,157,746

TOTAL

REPUBLIC

OF

SERBIA

1,157,746

ROMANIA

-

.9

%

RON

7,000,000

Romania

Government

Bond

.150

01/26/28

1,118,028

1,870,000

g

Romanian

Government

International

Bond

.000

02/27/27

1,603,557

1,080,000

g

Romanian

Government

International

Bond

.000

02/14/31

796,805

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ROMANIA—continued

$

1,400,000

g

Romanian

Government

International

Bond

.000

%

02/14/51

$

818,268

TOTAL

ROMANIA

4,336,658

RWANDA

-

.6

%

3,825,000

g

Rwanda

International

Government

Bond

.500

08/09/31

2,819,376

TOTAL

RWANDA

2,819,376

SAUDI

ARABIA

-

.2

%

1,950,000

g

Saudi

Government

International

Bond

.250

10/26/26

1,831,624

1,865,000

g

Saudi

Government

International

Bond

.250

02/02/33

1,431,143

1,000,000

g

Saudi

Government

International

Bond

.250

11/17/51

641,715

2,000,000

g

Saudi

Government

International

Bond

.750

01/21/55

1,386,993

1,500,000

g

Saudi

Government

International

Bond

.450

02/02/61

958,175

TOTAL

SAUDI

ARABIA

6,249,650

SENEGAL

-

.5

%

1,600,000

g

Senegal

Government

International

Bond

.250

05/23/33

1,198,568

1,900,000

g

Senegal

Government

International

Bond

.750

03/13/48

1,202,071

TOTAL

SENEGAL

2,400,639

SOUTH

AFRICA

-

.0

%

1,625,000

Republic

of

South

Africa

Government

International

Bond

.875

04/20/32

1,388,484

ZAR

9,050,000

Republic

of

South

Africa

Government

International

Bond

.875

02/28/35

401,090

1,025,000

Republic

of

South

Africa

Government

International

Bond

.650

09/27/47

681,661

1,500,000

Republic

of

South

Africa

Government

International

Bond

.750

09/30/49

994,547

1,000,000

Republic

of

South

Africa

Government

International

Bond

.300

04/20/52

782,636

3,000,000

South

Africa

Government

International

Bond

.300

10/12/28

2,563,003

ZAR

59,300,000

South

Africa

Government

International

Bond

.000

02/28/31

2,497,962

1,250,000

e

South

Africa

Government

International

Bond

.375

07/24/44

832,862

TOTAL

SOUTH

AFRICA

10,142,245

SRI

LANKA

-

.2

%

800,000

g

Sri

Lanka

Government

International

Bond

.750

04/18/23

179,744

1,000,000

†,g

Sri

Lanka

Government

International

Bond

.825

07/18/26

225,059

1,650,000

†,g

Sri

Lanka

Government

International

Bond

.550

03/28/30

364,435

TOTAL

SRI

LANKA

769,238

SUPRANATIONAL

-

.8

%

975,000

g

African

Export-Import

Bank

.634

05/17/26

808,873

INR

48,600,000

Asian

Development

Bank

.150

02/25/30

541,609

INR

57,100,000

Asian

Infrastructure

Investment

Bank

.000

12/08/31

609,963

2,375,000

g

Banque

Ouest

Africaine

de

Developpement

.700

10/22/31

1,789,127

478,406

†

European

Bank

for

Reconstruction

&

Development

.000

02/28/23

397,919

TOTAL

SUPRANATIONAL

4,147,491

THAILAND

-

.2

%

THB

47,000,000

Thailand

Government

International

Bond

.875

12/17/28

1,233,220

TOTAL

THAILAND

1,233,220

TRINIDAD

AND

TOBAGO

-

.2

%

1,100,000

g

Trinidad

&

Tobago

Government

International

Bond

.500

06/26/30

995,859

TOTAL

TRINIDAD

AND

TOBAGO

995,859

TURKEY

-

.9

%

2,675,000

Turkey

Government

International

Bond

.125

02/17/28

2,159,945

1,500,000

Turkey

Government

International

Bond

.500

09/20/33

1,126,712

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

TURKEY—continued

$

4,350,000

Turkey

Government

International

Bond

.875

%

04/16/43

$

2,544,760

2,500,000

g

Turkiye

Ihracat

Kredi

Bankasi

AS.

.750

07/06/26

2,091,969

1,500,000

g

Turkiye

Ihracat

Kredit

Bankasi

.375

10/24/23

1,459,891

TOTAL

TURKEY

9,383,277

UGANDA

-

.3

%

UGX

6,750,000,000

Republic

of

Uganda

Government

Bonds

.250

08/23/29

1,549,998

TOTAL

UGANDA

1,549,998

UKRAINE

-

.5

%

2,225,000

†,g

NPC

Ukrenergo

.875

11/09/28

320,491

UAH

37,000,000

†

Ukraine

Government

International

Bond

.840

02/26/25

439,595

1,925,000

g

Ukraine

Government

International

Bond

.750

09/01/27

324,362

1,450,000

g

Ukraine

Government

International

Bond

.750

11/01/30

267,351

EUR

525,000

g

Ukraine

Government

International

Bond

.375

01/27/32

76,013

3,000,000

g

Ukraine

Government

International

Bond

.253

03/15/35

457,431

2,320,000

g,i

Ukraine

Government

International

Bond

.000

08/01/41

575,360

TOTAL

UKRAINE

2,460,603

UNITED

ARAB

EMIRATES

-

.8

%

2,650,000

g

Abu

Dhabi

Government

International

Bond

.125

09/30/49

1,775,576

3,325,000

†

Emirate

of

Dubai

Government

International

Bonds

.900

09/09/50

2,159,193

TOTAL

UNITED

ARAB

EMIRATES

3,934,769

URUGUAY

-

.8

%

1,770,000

Uruguay

Government

International

Bond

.375

01/23/31

1,684,025

UYU

61,000,000

Uruguay

Government

International

Bond

.250

05/21/31

1,243,103

600,000

Uruguay

Government

International

Bond

.750

10/28/34

610,829

500,000

Uruguay

Government

International

Bond

.125

11/20/45

421,461

TOTAL

URUGUAY

3,959,418

UZBEKISTAN

-

.7

%

UZS

7,990,000,000

g

Republic

of

Uzbekistan

Bond

.500

11/25/23

711,753

1,000,000

g

Republic

of

Uzbekistan

Bond

.700

11/25/30

720,088

1,975,000

g

Republic

of

Uzbekistan

Government

International

Bond

.375

02/20/29

1,657,732

UZS

5,708,925,000

g

Republic

of

Uzbekistan

International

Bond

.000

07/19/24

495,993

TOTAL

UZBEKISTAN

3,585,566

VIETNAM

-

.4

%

1,975,000

g

Vietnam

Government

International

Bond

.800

11/19/24

1,895,816

TOTAL

VIETNAM

1,895,816

ZAMBIA

-

.4

%

3,900,000

†,g

Zambia

Government

International

Bond

.500

04/14/24

1,550,250

750,000

†,g

Zambia

Government

International

Bond

.970

07/30/27

294,375

TOTAL

ZAMBIA

1,844,625

TOTAL

GOVERNMENT

BONDS

224,619,632

(Cost

$313,154,480)

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

STRUCTURED

ASSETS

-

.5

%

CAYMAN

ISLANDS

-

.5

%

$

3,000,000

†,g

Industrial

DPR

Funding

Ltd

.380

%

04/15/34

$

2,501,970

Series

-

2022

1A

(Class

1)

TOTAL

CAYMAN

ISLANDS

2,501,970

TOTAL

STRUCTURED

ASSETS

2,501,970

(Cost

$3,000,000)

TOTAL

BONDS

483,588,576

(Cost

$640,766,262)

SHARES

COMPANY

COMMON

STOCKS

-

0.7%

MEXICO

-

.5

%

270,981

\*,e

Grupo

Aeromexico

SAB

de

C.V.

2,474,704

TOTAL

MEXICO

2,474,704

SOUTH

AFRICA

-

.2

%

729,619

\*

Petra

Diamonds

Ltd

955,698

TOTAL

SOUTH

AFRICA

955,698

TOTAL

COMMON

STOCKS

3,430,402

(Cost

$5,779,535)

PRINCIPAL

ISSUER

REFERENCERATE

&

SPREAD

RATE

MATURITY

DATE

SHORT-TERM

INVESTMENTS

-

5.3%

REPURCHASE

AGREEMENT

-

.0

%

9,925,000

r

Fixed

Income

Clearing

Corp

(FICC)

.000

11/01/22

9,925,000

TOTAL

REPURCHASE

AGREEMENT

9,925,000

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.3

%

16,938,710

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

16,938,710

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

16,938,710

TOTAL

SHORT-TERM

INVESTMENTS

26,863,710

(Cost

$26,863,710)

TOTAL

INVESTMENTS

-

101.7%

515,668,141

(Cost

$675,235,878)

OTHER

ASSETS

&

LIABILITIES,

NET

-

(1.7)%

(8,824,524)

NET

ASSETS

-

100.0%

$

506,843,617

Portfolio

of

investments

Emerging

Markets

Debt

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

concluded

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted.

BRL

Brazilian

Real

CNY

Chinese

Yuan

DOP

Dominican

Republic

Peso

EUR

Euro

INR

Indian

Rupee

KZT

Kazakhstani

Tenge

LIBOR

London

Interbank

Offered

Rate

M

Month

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

PEN

Peruvian

Sol

RON

Romanian

Leu

RUB

Russian

Ruble

THB

Thai

Baht

UAH

Ukrainian

Hryvnia

UGX

Ugandan

Shilling

UYU

Uruguayan

Peso

UZS

Uzbekistani

Som

ZAR

South

African

Rand

\*

Non-income

producing

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. ‡

Perpetual

security

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$17,857,738.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

o

Payment

in

Kind

Bond

q

In

default

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.000%

dated

10/31/22

to

be

repurchased

at

$9,925,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.000%

and

maturity

date

2/15/25,

valued

at

$10,123,520.

International

Bond

Fund

October

31,

2022

Consolidated

portfolio

of

investments

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

BANK

LOAN

OBLIGATIONS

-

0.4%

IRELAND

-

.1

%

$

261,086

i

Avolon

TLB

Borrower

US

LLC

LIBOR

M

+

1.750%

.239

%

01/15/25

$

256,534

341,250

i

Avolon

TLB

Borrower

US

LLC

LIBOR

M

+

1.500%

.805

02/12/27

333,572

TOTAL

IRELAND

590,106

UNITED

STATES

-

.3

%

332,921

i

American

Airlines,

Inc

LIBOR

M

+

2.000%

.412

12/15/23

331,996

218,166

i

Jazz

Financing

Lux

Sarl

LIBOR

M

+

3.500%

.254

05/05/28

215,934

246,880

i

Phoenix

Newco,

Inc

LIBOR

M

+

3.500%

.004

11/15/28

238,333

160,792

i

Sabre

GLBL,

Inc

LIBOR

M

+

2.000%

.754

02/22/24

158,029

128,349

i

Team

Health

Holdings,

Inc

SOFR

1M

+

5.250%

.979

03/02/27

107,492

TOTAL

UNITED

STATES

1,051,784

TOTAL

BANK

LOAN

OBLIGATIONS

1,641,890

(Cost

$1,690,992)

BONDS

-

88.5%

CORPORATE

BONDS

-

.4

%

AUSTRIA

-

.1

%

EUR

600,000

Erste

Group

Bank

AG.

.250

N/A‡

441,394

TOTAL

AUSTRIA

441,394

BELGIUM

-

.2

%

EUR

300,000

z

Argenta

Spaarbank

NV

.375

02/08/29

239,403

EUR

800,000

z

Proximus

SADP

.750

11/17/36

525,498

TOTAL

BELGIUM

764,901

BRAZIL

-

.2

%

300,000

g

B3

S.A.-Brasil

Bolsa

Balcao

.125

09/20/31

239,034

200,000

g

Natura

Cosmeticos

S.A.

.125

05/03/28

155,744

500,000

Suzano

Austria

GmbH

.125

01/15/32

368,750

TOTAL

BRAZIL

763,528

CANADA

-

.9

%

500,000

Enbridge,

Inc

.750

07/15/80

441,805

EUR

250,000

g

Fairfax

Financial

Holdings

Ltd

.750

03/29/28

215,161

750,000

g

GFL

Environmental,

Inc

.250

06/01/25

716,070

1,275,000

g

MEG

Energy

Corp

.875

02/01/29

1,217,179

500,000

g

Nova

Chemicals

Corp

.875

06/01/24

486,250

315,000

g

Parkland

Corp

.625

05/01/30

262,022

TOTAL

CANADA

3,338,487

CHILE

-

.5

%

398,542

g

Alfa

Desarrollo

S.p.A

.550

09/27/51

254,983

300,000

Celulosa

Arauco

y

Constitucion

S.A.

.875

11/02/27

265,500

250,000

g

Celulosa

Arauco

y

Constitucion

S.A.

.250

04/30/29

216,004

200,000

g

Cia

Cervecerias

Unidas

S.A.

.350

01/19/32

160,500

275,000

g

Colbun

S.A.

.150

01/19/32

211,750

200,000

g

Corp

Nacional

del

Cobre

de

Chile

.625

08/01/27

182,525

325,000

g

Corp

Nacional

del

Cobre

de

Chile

.150

01/15/51

197,152

325,000

g

Empresa

Nacional

de

Telecomunicaciones

S.A.

.050

09/14/32

237,403

300,000

g

Sociedad

Quimica

y

Minera

de

Chile

S.A.

.500

09/10/51

191,962

TOTAL

CHILE

1,917,779

CHINA

-

.1

%

300,000

g

ENN

Clean

Energy

International

Investment

Ltd

.375

05/12/26

244,126

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CHINA—continued

$

300,000

g

ENN

Energy

Holdings

Ltd

.625

%

09/17/30

$

228,606

TOTAL

CHINA

472,732

COLOMBIA

-

.2

%

350,000

Bancolombia

S.A.

.000

01/29/25

313,775

300,000

Ecopetrol

S.A.

.375

06/26/26

272,580

75,000

Ecopetrol

S.A.

.875

04/29/30

61,717

225,000

Ecopetrol

S.A.

.625

11/02/31

155,062

TOTAL

COLOMBIA

803,134

CZECH

REPUBLIC

-

.1

%

EUR

300,000

z

CPI

Property

Group

S.A.

.750

01/14/30

184,747

TOTAL

CZECH

REPUBLIC

184,747

FRANCE

-

.3

%

EUR

500,000

z

BNP

Paribas

S.A.

.100

04/07/32

393,968

EUR

800,000

BPCE

S.A.

.500

09/15/27

678,379

EUR

500,000

Credit

Agricole

Assurances

S.A.

.500

10/06/31

350,119

EUR

600,000

Electricite

de

France

S.A.

.000

10/02/30

488,893

EUR

500,000

z

Electricite

de

France

S.A.

.750

10/12/34

480,849

EUR

500,000

z

Engie

S.A.

.875

N/A‡

345,888

EUR

500,000

g

Iliad

Holding

SAS

.125

10/15/26

458,901

EUR

300,000

z

La

Poste

S.A.

.625

01/18/36

193,905

GBP

700,000

z

Societe

Generale

S.A.

.250

12/07/27

624,647

EUR

500,000

z

Societe

Generale

S.A.

.500

06/12/29

389,455

EUR

600,000

z

Suez

SACA

.375

05/24/30

504,286

TOTAL

FRANCE

4,909,290

GERMANY

-

.9

%

900,000

Deutsche

Bank

AG.

.742

01/07/33

612,702

EUR

750,000

g,o

IHO

Verwaltungs

GmbH

.750

09/15/26

614,154

EUR

500,000

Muenchener

Rueckversicherungs-Gesellschaft

AG.

in

Muenchen

.000

05/26/42

331,301

EUR

600,000

Volkswagen

Bank

GmbH

.500

07/31/26

558,689

GBP

800,000

Volkswagen

International

Finance

NV

.375

11/16/26

826,226

EUR

800,000

Vonovia

SE

.625

12/14/29

564,535

TOTAL

GERMANY

3,507,607

INDIA

-

.3

%

300,000

g

Adani

Electricity

Mumbai

Ltd

.867

07/22/31

182,554

425,000

g

Bharti

Airtel

Ltd

.250

06/03/31

329,143

200,000

g

CA

Magnum

Holdings

.375

10/31/26

167,516

200,000

g

Indian

Railway

Finance

Corp

Ltd

.249

02/13/30

159,124

250,000

z

Power

Finance

Corp

Ltd

.350

05/16/31

187,946

225,000

g

UltraTech

Cement

Ltd

.800

02/16/31

166,311

TOTAL

INDIA

1,192,594

INDONESIA

-

.1

%

200,000

g

Pertamina

Persero

PT

.650

07/30/29

169,848

225,000

g

Perusahaan

Listrik

Negara

PT

.875

07/17/49

150,889

TOTAL

INDONESIA

320,737

IRELAND

-

.2

%

EUR

1,000,000

z

Bank

of

Ireland

Group

plc

.375

05/10/27

836,318

TOTAL

IRELAND

836,318

ISRAEL

-

.3

%

500,000

g

Bank

Hapoalim

BM

.255

01/21/32

409,825

300,000

g

Bank

Leumi

Le-Israel

BM

.275

01/29/31

256,875

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ISRAEL—continued

$

625,000

g

Israel

Electric

Corp

Ltd

.250

%

08/14/28

$

570,180

TOTAL

ISRAEL

1,236,880

ITALY

-

.0

%

200,000

g

Intesa

Sanpaolo

S.p.A

.198

06/01/32

135,387

TOTAL

ITALY

135,387

JAPAN

-

.5

%

EUR

550,000

z

Mitsubishi

UFJ

Financial

Group,

Inc

.264

06/14/25

527,268

EUR

500,000

z

ORIX

Corp

.919

04/20/26

459,791

EUR

500,000

Takeda

Pharmaceutical

Co

Ltd

.375

07/09/32

391,116

EUR

500,000

Takeda

Pharmaceutical

Co

Ltd

.000

07/09/40

352,057

TOTAL

JAPAN

1,730,232

KAZAKHSTAN

-

.3

%

225,000

g

Development

Bank

of

Kazakhstan

JSC

.750

05/12/25

223,138

475,000

g

KazTransGas

JSC

.375

09/26/27

389,470

400,000

g

Tengizchevroil

Finance

Co

International

Ltd

.625

08/15/25

318,885

TOTAL

KAZAKHSTAN

931,493

KOREA,

REPUBLIC

OF

-

.1

%

250,000

g

Kia

Corp

.750

02/14/27

216,498

200,000

g

Korea

East-West

Power

Co

Ltd

.600

05/06/25

191,581

TOTAL

KOREA,

REPUBLIC

OF

408,079

KUWAIT

-

.1

%

375,000

g

NBK

SPC

Ltd

.625

09/15/27

318,293

TOTAL

KUWAIT

318,293

LUXEMBOURG

-

.5

%

EUR

1,000,000

g

Albion

Financing

SARL

.250

10/15/26

846,509

EUR

250,000

z

Czech

Gas

Networks

Investments

Sarl

.450

09/08/29

156,806

EUR

400,000

z

ProLogis

International

Funding

II

S.A.

.625

03/07/30

366,621

EUR

500,000

z

ProLogis

International

Funding

II

S.A.

.375

11/14/30

415,880

TOTAL

LUXEMBOURG

1,785,816

MALAYSIA

-

.1

%

300,000

g

CIMB

Bank

Bhd

.125

07/20/27

257,440

400,000

g

Genm

Capital

Labuan

Ltd

.882

04/19/31

240,278

TOTAL

MALAYSIA

497,718

MEXICO

-

.3

%

210,000

America

Movil

SAB

de

C.V.

.700

07/21/32

192,436

375,000

g

Becle

SAB

de

C.V.

.500

10/14/31

281,014

375,000

g

Orbia

Advance

Corp

SAB

de

C.V.

.875

05/11/26

313,125

500,000

g

Sigma

Alimentos

S.A.

de

C.V.

.125

05/02/26

460,440

TOTAL

MEXICO

1,247,015

NETHERLANDS

-

.5

%

EUR

600,000

Cooperatieve

Rabobank

UA

.250

N/A‡

486,693

EUR

500,000

ING

Groep

NV

.250

02/16/27

444,505

EUR

1,300,000

g

VZ

Secured

Financing

BV

.500

01/15/32

988,574

TOTAL

NETHERLANDS

1,919,772

NIGERIA

-

.2

%

EUR

1,000,000

g

BOI

Finance

BV

.500

02/16/27

751,127

TOTAL

NIGERIA

751,127

PANAMA

-

.1

%

200,000

g

Aeropuerto

Internacional

de

Tocumen

S.A.

.000

08/11/41

141,359

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

PANAMA—continued

$

300,000

g

Banco

General

S.A.

.125

%

08/07/27

$

274,611

TOTAL

PANAMA

415,970

PERU

-

.0

%

200,000

g

Kallpa

Generacion

SA

.125

08/16/27

175,485

TOTAL

PERU

175,485

POLAND

-

.1

%

EUR

150,000

z

GTC

Aurora

Luxembourg

S.A.

.250

06/23/26

97,908

EUR

300,000

z

mBank

S.A.

.966

09/21/27

223,253

EUR

250,000

z

Polski

Koncern

Naftowy

ORLEN

S.A.

.125

05/27/28

192,285

TOTAL

POLAND

513,446

PORTUGAL

-

.1

%

GBP

200,000

y

EDP

Finance

BV

.625

01/04/24

238,816

TOTAL

PORTUGAL

238,816

QATAR

-

.6

%

CNY

16,000,000

QNB

Finance

Ltd

.150

02/04/26

2,090,164

TOTAL

QATAR

2,090,164

ROMANIA

-

.0

%

EUR

250,000

z

NE

Property

BV

.000

01/20/30

162,670

TOTAL

ROMANIA

162,670

SINGAPORE

-

.2

%

EUR

200,000

z

Temasek

Financial

I

Ltd

.500

11/20/31

151,234

500,000

g

United

Overseas

Bank

Ltd

.000

10/14/31

423,550

TOTAL

SINGAPORE

574,784

SOUTH

AFRICA

-

.4

%

450,000

AngloGold

Ashanti

Holdings

plc

.750

10/01/30

345,009

1,250,000

z

Eskom

Holdings

SOC

Ltd

.314

07/23/27

1,045,583

TOTAL

SOUTH

AFRICA

1,390,592

SPAIN

-

.4

%

EUR

800,000

Banco

Santander

S.A.

.200

02/11/28

652,692

800,000

Banco

Santander

S.A.

.500

N/A‡

757,711

TOTAL

SPAIN

1,410,403

SWITZERLAND

-

.4

%

EUR

750,000

z

Cloverie

plc

for

Zurich

Insurance

Co

Ltd

.500

12/15/28

648,938

GBP

500,000

Credit

Suisse

Group

AG.

.250

06/09/28

455,942

EUR

600,000

z

UBS

Group

AG

.250

11/05/28

478,101

TOTAL

SWITZERLAND

1,582,981

TAIWAN

-

.1

%

300,000

TSMC

Arizona

Corp

.125

04/22/29

277,218

TOTAL

TAIWAN

277,218

THAILAND

-

.1

%

430,000

g

Bangkok

Bank

PCL

.466

09/23/36

299,520

300,000

g

Thaioil

Treasury

Center

Co

Ltd

.500

06/18/30

217,650

TOTAL

THAILAND

517,170

TURKEY

-

.1

%

EUR

250,000

z

Arcelik

AS.

.000

05/27/26

205,206

TOTAL

TURKEY

205,206

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UNITED

ARAB

EMIRATES

-

.3

%

$

200,000

g

DAE

Funding

LLC

.375

%

03/20/28

$

168,426

600,000

z

First

Abu

Dhabi

Bank

PJSC

.125

10/13/27

592,129

297,963

g

Sweihan

PV

Power

Co

PJSC

.625

01/31/49

226,424

TOTAL

UNITED

ARAB

EMIRATES

986,979

UNITED

KINGDOM

-

.8

%

EUR

800,000

z

Barclays

plc

.625

11/14/23

789,936

EUR

800,000

z

Barclays

plc

.877

01/28/28

661,479

EUR

1,000,000

BP

Capital

Markets

plc

.231

05/08/31

792,538

UGX

3,000,000,000

†,g

ICBC

Standard

Bank

plc

.250

06/26/34

603,955

GBP

750,000

Lloyds

Banking

Group

plc

.985

12/15/31

705,153

EUR

750,000

Natwest

Group

plc

.750

03/02/26

692,325

EUR

500,000

Reckitt

Benckiser

Treasury

Services

Nederland

BV

.750

05/19/30

404,805

EUR

700,000

z

Standard

Chartered

plc

.200

09/23/31

562,933

GBP

400,000

Tesco

Corporate

Treasury

Services

plc

.750

04/27/30

360,591

GBP

700,000

Virgin

Money

UK

plc

.375

04/24/26

721,524

GBP

600,000

g

Vmed

O2

UK

Financing

I

plc

.500

07/15/31

533,951

TOTAL

UNITED

KINGDOM

6,829,190

UNITED

STATES

-

.7

%

EUR

1,200,000

AbbVie,

Inc

.250

06/01/24

1,149,245

JPY

100,000,000

Aflac,

Inc

.550

03/12/30

644,896

EUR

250,000

g

Allied

Universal

Holdco

LLC

.625

06/01/28

196,734

EUR

575,000

American

Honda

Finance

Corp

.950

10/18/24

555,964

EUR

500,000

American

Medical

Systems

Europe

BV

.625

03/08/31

414,040

EUR

300,000

American

Tower

Corp

.375

04/04/25

278,523

EUR

450,000

American

Tower

Corp

.450

01/15/27

375,224

EUR

500,000

Aptiv

plc

.500

03/10/25

464,781

EUR

250,000

g

Ardagh

Metal

Packaging

Finance

USA

LLC

.000

09/01/28

189,829

EUR

750,000

g

Ardagh

Metal

Packaging

Finance

USA

LLC

.000

09/01/29

529,144

EUR

500,000

AT&T,

Inc

.350

09/05/29

449,768

EUR

750,000

g

Avantor

Funding,

Inc

.875

07/15/28

646,646

EUR

500,000

z

Bank

of

America

Corp

.662

04/25/28

438,542

EUR

500,000

z

Bank

of

America

Corp

.654

10/26/31

364,819

EUR

500,000

z

Bank

of

America

Corp

.824

04/27/33

425,404

EUR

700,000

Becton

Dickinson

&

Co

.401

05/24/23

686,367

EUR

600,000

z

Blackstone

Private

Credit

Fund

.750

11/30/26

482,683

EUR

700,000

Capital

One

Financial

Corp

.800

06/12/24

653,280

EUR

400,000

Celanese

US

Holdings

LLC

.625

09/10/28

269,441

EUR

750,000

Chubb

INA

Holdings,

Inc

.550

03/15/28

651,604

EUR

350,000

Chubb

INA

Holdings,

Inc

.400

06/15/31

272,360

EUR

1,250,000

z

Citigroup,

Inc

.250

07/06/26

1,144,336

EUR

700,000

Comcast

Corp

.250

05/20/27

599,805

EUR

750,000

g

Coty,

Inc

.875

04/15/26

675,205

EUR

500,000

g

Dana

Financing

Luxembourg

Sarl

.000

07/15/29

392,048

GBP

600,000

Digital

Stout

Holding

LLC

.750

10/17/30

560,346

GBP

200,000

Discovery

Communications

LLC

.500

09/20/24

215,248

EUR

800,000

Dow

Chemical

Co

.500

03/15/27

669,825

EUR

500,000

Equinix,

Inc

.000

03/15/33

343,394

EUR

500,000

FedEx

Corp

.625

01/11/27

449,385

EUR

375,000

Fidelity

National

Information

Services,

Inc

.100

07/15/24

356,322

EUR

750,000

z

General

Motors

Financial

Co,

Inc

.600

05/20/27

611,543

EUR

500,000

i,z

Goldman

Sachs

Group,

Inc

EURIBOR

M

+

1.000%

.269

02/07/25

492,262

EUR

750,000

z

Goldman

Sachs

Group,

Inc

.250

01/26/28

600,730

EUR

295,000

g

Goodyear

Europe

BV

.750

08/15/28

233,401

EUR

500,000

Highland

Holdings

Sarl

.318

12/15/26

424,166

EUR

1,000,000

Honeywell

International,

Inc

.000

03/10/24

944,082

EUR

600,000

International

Business

Machines

Corp

.650

02/11/32

452,896

EUR

400,000

International

Flavors

&

Fragrances,

Inc

.800

09/25/26

345,229

EUR

500,000

g

International

Game

Technology

plc

.500

06/15/26

465,779

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UNITED

STATES—continued

EUR

500,000

g

IQVIA,

Inc

.750

%

03/15/26

$

451,391

EUR

450,000

g

Liberty

Mutual

Group,

Inc

.750

05/04/26

426,370

EUR

650,000

Liberty

Mutual

Group,

Inc

.750

05/04/26

615,868

GBP

600,000

McKesson

Corp

.125

02/17/29

581,893

EUR

400,000

z

Metropolitan

Life

Global

Funding

I

.750

05/25/25

377,367

GBP

600,000

z

Metropolitan

Life

Global

Funding

I

.125

09/02/25

673,702

EUR

600,000

z

Mondelez

International

Holdings

Netherlands

BV

.250

09/09/41

351,714

EUR

670,000

Morgan

Stanley

.342

10/23/26

607,528

EUR

500,000

Morgan

Stanley

.950

05/07/32

433,791

EUR

500,000

g

Olympus

Water

US

Holding

Corp

.875

10/01/28

368,412

EUR

100,000

g

Organon

Finance LLC

.875

04/30/28

83,135

$

1,250,000

g

Organon

Finance LLC

.125

04/30/31

1,061,587

GBP

500,000

Pfizer,

Inc

.735

06/15/43

418,344

EUR

540,000

ProLogis

Euro

Finance

LLC

.375

02/06/28

438,021

EUR

500,000

Raytheon

Technologies

Corp

.150

05/18/30

431,070

EUR

700,000

Southern

Co

.875

09/15/81

496,036

EUR

450,000

Stryker

Corp

.625

11/30/30

400,182

EUR

700,000

The

Procter

&

Gamble

Company

.625

10/30/24

664,491

EUR

500,000

The

Procter

&

Gamble

Company

.875

10/30/38

404,642

EUR

1,100,000

Thermo

Fisher

Scientific

Finance

I

BV

.800

10/18/30

882,919

GBP

600,000

Time

Warner

Cable

LLC

.750

06/02/31

634,071

EUR

400,000

Verizon

Communications,

Inc

.875

10/26/29

348,310

EUR

600,000

Walmart,

Inc

.550

04/08/26

579,447

EUR

1,000,000

Whirlpool

EMEA

Finance

Sarl

.500

02/20/28

806,777

TOTAL

UNITED

STATES

32,652,364

TOTAL

CORPORATE

BONDS

80,438,498

(Cost

$106,038,318)

GOVERNMENT

BONDS

-

.2

%

ANGOLA

-

.3

%

1,550,000

g

Angolan

Government

International

Bond

.750

04/14/32

1,248,754

TOTAL

ANGOLA

1,248,754

AUSTRALIA

-

.0

%

AUD

3,650,000

Australia

Government

Bond

.250

11/21/25

2,125,577

AUD

3,765,000

z

Australia

Government

Bond

.250

05/21/28

2,250,967

AUD

1,660,000

z

Australia

Government

Bond

.000

11/21/33

989,758

AUD

2,550,000

†,z

Australia

Government

Bond

.750

06/21/51

992,608

AUD

1,685,000

New

South

Wales

Treasury

Corp

.000

04/20/29

1,003,397

TOTAL

AUSTRALIA

7,362,307

BELGIUM

-

.3

%

EUR

2,125,000

g

Kingdom

of

Belgium

Government

Bond

.000

10/22/27

1,871,034

EUR

3,825,000

g

Kingdom

of

Belgium

Government

Bond

.350

06/22/32

3,023,567

EUR

525,000

g

Kingdom

of

Belgium

Government

Bond

.450

06/22/37

419,575

EUR

5,150,000

g

Kingdom

of

Belgium

Government

Bond

.400

06/22/40

3,198,607

TOTAL

BELGIUM

8,512,783

BENIN

-

.2

%

EUR

1,275,000

†,g

Benin

Government

International

Bond

.950

01/22/35

777,064

TOTAL

BENIN

777,064

BRAZIL

-

.3

%

BRL

5,500,000

Brazil

Notas

do

Tesouro

Nacional

Serie

F

.000

01/01/27

1,009,057

TOTAL

BRAZIL

1,009,057

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

CAMEROON

-

.1

%

EUR

650,000

g

Republic

of

Cameroon

International

Bond

.950

%

07/07/32

$

420,645

TOTAL

CAMEROON

420,645

CANADA

-

.4

%

CAD

3,050,000

g

Canada

Housing

Trust

No

.100

12/15/26

2,011,632

CAD

1,800,000

Canadian

Government

International

Bond

.000

09/01/23

1,297,438

CAD

2,625,000

Canadian

Government

International

Bond

.000

06/01/28

1,799,436

CAD

2,275,000

Canadian

Government

International

Bond

.000

06/01/32

1,495,821

CAD

1,300,000

Canadian

Government

International

Bond

.000

06/01/37

1,125,852

CAD

1,350,000

Hydro-Quebec

.000

02/15/55

936,087

CAD

1,600,000

Province

of

British

Columbia

Canada

.550

06/18/27

1,111,855

CAD

1,600,000

Province

of

New

Brunswick

Canada

.100

08/14/28

1,125,267

CAD

1,300,000

Province

of

Ontario

Canada

.150

06/02/31

825,536

CAD

1,100,000

Province

of

Ontario

Canada

.900

12/02/51

484,102

CAD

1,000,000

Province

of

Quebec

Canada

.750

09/01/27

699,394

TOTAL

CANADA

12,912,420

CHINA

-

.9

%

CNY

83,560,000

China

Government

Bond

.880

11/05/23

11,554,105

CNY

49,600,000

China

Government

Bond

.940

10/17/24

6,918,556

CNY

60,500,000

China

Government

Bond

.120

12/05/26

8,526,571

CNY

6,750,000

China

Government

Bond

.500

07/25/27

927,892

CNY

14,900,000

China

Government

Bond

.910

10/14/28

2,080,746

CNY

14,500,000

China

Government

Bond

.270

11/19/30

2,067,683

CNY

18,900,000

China

Government

Bond

.860

07/22/49

2,909,868

CNY

15,000,000

China

Government

Bond

.390

03/16/50

2,137,207

CNY

12,700,000

China

Government

Bond

.810

09/14/50

1,952,613

CNY

12,400,000

China

Government

Bond

.720

04/12/51

1,882,082

TOTAL

CHINA

40,957,323

COTE

D'IVOIRE

-

.2

%

EUR

1,000,000

g

Ivory

Coast

Government

International

Bond

.875

10/17/31

748,097

EUR

100,000

g

Ivory

Coast

Government

International

Bond

.875

01/30/32

69,230

TOTAL

COTE

D'IVOIRE

817,327

CYPRUS

-

.1

%

EUR

1,300,000

z

Cyprus

Government

International

Bond

.375

09/25/28

1,181,946

EUR

1,100,000

z

Cyprus

Government

International

Bond

.625

01/21/30

848,906

EUR

1,550,000

z

Cyprus

Government

International

Bond

.950

01/20/32

1,156,833

EUR

575,000

z

Cyprus

Government

International

Bond

.750

02/26/34

491,487

EUR

500,000

z

Cyprus

Government

International

Bond

.750

05/03/49

386,653

TOTAL

CYPRUS

4,065,825

DOMINICAN

REPUBLIC

-

.2

%

DOP

15,000,000

g

Dominican

Republic

Government

International

Bond

.750

06/05/26

265,139

$

750,000

g

Dominican

Republic

Government

International

Bond

.875

09/23/32

577,879

TOTAL

DOMINICAN

REPUBLIC

843,018

ECUADOR

-

.1

%

78,000

g

Ecuador

Government

International

Bond

.000

07/31/30

24,245

441,250

g

Ecuador

Government

International

Bond

(Step

Bond)

.500

07/31/30

234,285

309,125

g

Ecuador

Government

International

Bond

(Step

Bond)

.500

07/31/35

112,983

TOTAL

ECUADOR

371,513

EGYPT

-

.8

%

850,000

g

Egypt

Government

International

Bond

.750

05/29/24

802,207

EGP

16,250,000

Egypt

Government

International

Bond

.900

07/02/24

632,238

525,000

g

Egypt

Government

International

Bond

.600

03/01/29

376,635

EUR

900,000

g

Egypt

Government

International

Bond

.375

04/11/31

534,329

300,000

g

Egypt

Government

International

Bond

.053

01/15/32

190,340

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

EGYPT—continued

$

675,000

g

Egypt

Government

International

Bond

.500

%

01/31/47

$

398,790

TOTAL

EGYPT

2,934,539

EL

SALVADOR

-

.1

%

1,000,000

g

El

Salvador

Government

International

Bond

.375

01/18/27

388,127

TOTAL

EL

SALVADOR

388,127

FRANCE

-

.3

%

EUR

2,500,000

French

Republic

Government

Bond

OAT

.500

05/25/25

2,369,617

EUR

3,775,000

French

Republic

Government

Bond

OAT

.750

11/25/28

3,397,969

EUR

1,250,000

g

French

Republic

Government

Bond

OAT

.500

05/25/40

812,810

EUR

910,000

French

Republic

Government

Bond

OAT

.750

05/25/52

509,530

EUR

2,500,000

z

UNEDIC

ASSEO

.250

07/16/35

1,709,992

TOTAL

FRANCE

8,799,918

GERMANY

-

.5

%

EUR

4,100,000

Bundesrepublik

Deutschland

.500

08/15/27

3,787,261

EUR

500,000

Bundesrepublik

Deutschland

.000

08/15/29

429,981

EUR

4,500,000

Bundesrepublik

Deutschland

.000

05/15/38

3,673,445

EUR

310,000

Bundesrepublik

Deutschland

.250

08/15/48

250,171

EUR

1,695,000

†

Bundesrepublik

Deutschland

.000

08/15/52

892,032

MXN

11,000,000

Kreditanstalt

fuer

Wiederaufbau

.400

07/25/25

476,071

TOTAL

GERMANY

9,508,961

GHANA

-

.2

%

500,000

g

Ghana

Government

International

Bond

.750

04/07/29

144,270

825,000

g

Ghana

Government

International

Bond

.125

03/26/32

237,229

1,000,000

g

Ghana

Government

International

Bond

.627

06/16/49

274,780

TOTAL

GHANA

656,279

GREECE

-

.1

%

EUR

575,000

g

Hellenic

Republic

Government

International

Bond

.875

03/12/29

555,612

EUR

2,300,000

g

Hellenic

Republic

Government

International

Bond

.500

06/18/30

1,843,433

EUR

1,300,000

g

Hellenic

Republic

Government

International

Bond

.750

06/18/31

938,774

EUR

1,100,000

g

Hellenic

Republic

Government

International

Bond

.750

06/18/32

849,928

TOTAL

GREECE

4,187,747

GUATEMALA

-

.2

%

775,000

g

Guatemala

Government

Bond

.125

06/01/50

665,013

TOTAL

GUATEMALA

665,013

HUNGARY

-

.4

%

HUF

504,050,000

Hungary

Government

International

Bond

.000

06/26/24

1,035,599

EUR

600,000

z

Hungary

Government

International

Bond

.750

06/05/35

361,611

TOTAL

HUNGARY

1,397,210

INDIA

-

.0

%

250,000

g

Export-Import

Bank

of

India

.250

01/13/31

183,163

TOTAL

INDIA

183,163

INDONESIA

-

.5

%

IDR

13,000,000,000

Indonesia

Treasury

Bond

.125

05/15/24

848,653

IDR

17,000,000,000

Indonesia

Treasury

Bond

.375

04/15/32

1,006,020

TOTAL

INDONESIA

1,854,673

ISRAEL

-

.8

%

ILS

5,250,000

Israel

Government

International

Bond

.500

01/31/42

1,910,257

ILS

3,200,000

Israel

Government

International

Bond

.750

03/31/47

931,153

TOTAL

ISRAEL

2,841,410

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ITALY

-

.8

%

EUR

2,575,000

Italy

Buoni

Poliennali

Del

Tesoro

.250

%

12/01/26

$

2,345,622

EUR

2,625,000

Italy

Buoni

Poliennali

Del

Tesoro

.950

09/15/27

2,303,005

EUR

2,400,000

g

Italy

Buoni

Poliennali

Del

Tesoro

.950

03/01/37

1,533,910

EUR

950,000

†,g

Italy

Buoni

Poliennali

Del

Tesoro

.700

09/01/51

549,131

TOTAL

ITALY

6,731,668

JAPAN

-

.0

%

JPY

13,000,000

Japan

Finance

Organization

for

Municipalities

.440

08/15/25

88,377

JPY

21,000,000

Japan

Finance

Organization

for

Municipalities

.320

01/19/26

142,446

JPY

30,000,000

Japan

Finance

Organization

for

Municipalities

.145

02/16/26

202,343

JPY

14,000,000

Japan

Finance

Organization

for

Municipalities

.020

05/22/26

93,990

JPY

268,000,000

Japan

Government

Five

Year

Bond

.005

09/20/26

1,802,454

JPY

322,000,000

Japan

Government

Ten

Year

Bond

.100

09/20/29

2,153,610

JPY

325,000,000

Japan

Government

Ten

Year

Bond

.100

12/20/29

2,168,133

JPY

210,000,000

Japan

Government

Ten

Year

Bond

.100

03/20/30

1,399,968

JPY

425,000,000

Japan

Government

Ten

Year

Bond

.100

06/20/30

2,824,405

JPY

513,000,000

Japan

Government

Ten

Year

Bond

.100

09/20/30

3,411,361

JPY

457,700,000

Japan

Government

Thirty

Year

Bond

.500

09/20/46

2,618,674

JPY

73,000,000

Japan

Government

Thirty

Year

Bond

.600

09/20/50

403,072

JPY

278,000,000

Japan

Government

Thirty

Year

Bond

.700

09/20/51

1,563,662

JPY

270,000,000

Japan

Government

Thirty

Year

Bond

.300

06/20/52

1,770,064

JPY

340,000,000

Japan

Government

Twenty

Year

Bond

.100

03/20/26

2,457,338

JPY

278,000,000

Japan

Government

Twenty

Year

Bond

.600

12/20/36

1,860,235

JPY

256,000,000

Japan

Government

Twenty

Year

Bond

.500

06/20/38

1,648,618

JPY

660,000,000

Japan

Government

Twenty

Year

Bond

.700

09/20/38

4,394,373

JPY

185,000,000

Japan

Government

Twenty

Year

Bond

.300

06/20/39

1,131,631

JPY

266,000,000

Japan

Government

Two

Year

Bond

.005

07/01/24

1,791,495

TOTAL

JAPAN

33,926,249

JORDAN

-

.3

%

$

1,000,000

g

Jordan

Government

International

Bond

.750

01/15/28

967,260

TOTAL

JORDAN

967,260

KENYA

-

.4

%

1,200,000

g

Kenya

Government

International

Bond

.000

05/22/27

952,232

575,000

g

Kenya

Government

International

Bond

.300

01/23/34

364,321

TOTAL

KENYA

1,316,553

KOREA,

REPUBLIC

OF

-

.9

%

200,000

Export-Import

Bank

of

Korea

.000

11/01/22

200,000

KRW

2,700,000,000

Korea

Treasury

Bond

.875

06/10/24

1,858,019

KRW

1,900,000,000

Korea

Treasury

Bond

.250

06/10/25

1,268,670

KRW

1,200,000,000

Korea

Treasury

Bond

.375

12/10/29

698,952

KRW

7,440,000,000

Korea

Treasury

Bond

.000

06/10/31

4,411,195

KRW

1,175,000,000

Korea

Treasury

Bond

.375

12/10/31

717,073

KRW

1,940,000,000

Korea

Treasury

Bond

.375

09/10/38

1,078,108

KRW

800,000,000

Korea

Treasury

Bond

.875

09/10/41

393,439

KRW

730,000,000

Korea

Treasury

Bond

.500

03/10/52

374,099

TOTAL

KOREA,

REPUBLIC

OF

10,999,555

LEBANON

-

.0

%

1,400,000

†,q,z

Lebanon

Government

International

Bond

.850

03/23/27

82,992

TOTAL

LEBANON

82,992

MALAYSIA

-

.3

%

MYR

5,400,000

Malaysia

Government

Bond

.757

05/22/40

985,936

TOTAL

MALAYSIA

985,936

MEXICO

-

.8

%

MXN

30,800,000

Mexican

Bonos

.750

03/05/26

1,370,594

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

MEXICO—continued

MXN

34,100,000

Mexican

Bonos

.500

%

11/18/38

$

1,515,411

TOTAL

MEXICO

2,886,005

MONGOLIA

-

.1

%

$

550,000

g

Mongolia

Government

International

Bond

.450

07/07/31

347,735

TOTAL

MONGOLIA

347,735

MOROCCO

-

.4

%

EUR

850,000

g

Morocco

Government

International

Bond

.375

03/30/26

740,408

EUR

1,100,000

g

Morocco

Government

International

Bond

.500

11/27/31

723,051

TOTAL

MOROCCO

1,463,459

NETHERLANDS

-

.4

%

EUR

550,000

g

Netherlands

Government

International

Bond

.750

01/15/47

565,634

EUR

2,200,000

†,g

Netherlands

Government

International

Bond

.000

01/15/52

1,107,164

TOTAL

NETHERLANDS

1,672,798

NEW

ZEALAND

-

.9

%

NZD

3,720,000

New

Zealand

Government

International

Bond

.500

05/15/24

2,040,195

NZD

1,000,000

New

Zealand

Government

International

Bond

.500

04/15/27

587,214

NZD

1,185,000

New

Zealand

Government

International

Bond

.000

05/15/32

569,813

TOTAL

NEW

ZEALAND

3,197,222

NIGERIA

-

.3

%

400,000

g

Nigeria

Government

International

Bond

.500

11/28/27

283,496

925,000

g

Nigeria

Government

International

Bond

.375

03/24/29

669,239

TOTAL

NIGERIA

952,735

NORWAY

-

.0

%

NOK

9,000,000

City

of

Oslo

Norway

.050

10/31/24

828,513

NOK

34,375,000

g

Norway

Government

International

Bond

.000

04/26/28

3,051,601

TOTAL

NORWAY

3,880,114

PAKISTAN

-

.1

%

450,000

e,g

Pakistan

Global

Sukuk

Programme

Co

Ltd

.950

01/31/29

230,625

1,000,000

g

Pakistan

Government

International

Bond

.000

04/08/26

325,000

TOTAL

PAKISTAN

555,625

PARAGUAY

-

.2

%

925,000

g

Paraguay

Government

International

Bond

.400

03/30/50

709,215

TOTAL

PARAGUAY

709,215

PERU

-

.3

%

PEN

6,201,000

g

Peruvian

Government

International

Bond

.400

08/12/34

1,184,657

TOTAL

PERU

1,184,657

PHILIPPINES

-

.1

%

PHP

13,000,000

Philippine

Government

International

Bond

.250

01/14/36

203,540

TOTAL

PHILIPPINES

203,540

REPUBLIC

OF

SERBIA

-

.8

%

EUR

1,700,000

g

Serbia

Government

International

Bond

.500

06/26/29

1,173,316

EUR

725,000

g

Serbia

Government

International

Bond

.050

09/23/36

392,131

RSD

120,000,000

Serbia

Treasury

Bonds

.875

02/08/28

935,169

RSD

101,500,000

Serbia

Treasury

Bonds

.500

08/20/32

649,822

TOTAL

REPUBLIC

OF

SERBIA

3,150,438

ROMANIA

-

.8

%

RON

8,150,000

Romanian

Government

International

Bond

.000

10/25/23

1,571,504

660,000

g

Romanian

Government

International

Bond

.000

02/27/27

565,961

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

ROMANIA—continued

EUR

800,000

g

Romanian

Government

International

Bond

.000

%

01/28/32

$

506,041

EUR

850,000

g

Romanian

Government

International

Bond

.000

04/14/33

510,323

TOTAL

ROMANIA

3,153,829

RWANDA

-

.5

%

$

2,450,000

g

Rwanda

International

Government

Bond

.500

08/09/31

1,805,875

TOTAL

RWANDA

1,805,875

SENEGAL

-

.3

%

EUR

1,000,000

g

Senegal

Government

International

Bond

.750

03/13/28

806,288

EUR

825,000

g

Senegal

Government

International

Bond

.375

06/08/37

496,101

TOTAL

SENEGAL

1,302,389

SINGAPORE

-

.8

%

SGD

1,300,000

Singapore

Government

Bond

.500

03/01/27

928,552

SGD

3,525,000

Singapore

Government

Bond

.625

07/01/31

2,153,806

TOTAL

SINGAPORE

3,082,358

SOUTH

AFRICA

-

.7

%

475,000

Republic

of

South

Africa

Government

International

Bond

.875

04/20/32

405,864

ZAR

20,900,000

Republic

of

South

Africa

Government

International

Bond

.875

02/28/35

926,274

500,000

Republic

of

South

Africa

Government

International

Bond

.300

04/20/52

391,318

ZAR

16,500,000

South

Africa

Government

International

Bond

.000

02/28/31

695,049

ZAR

7,800,000

South

Africa

Government

International

Bond

.750

01/31/44

321,951

TOTAL

SOUTH

AFRICA

2,740,456

SPAIN

-

.6

%

EUR

4,600,000

g

Spain

Government

International

Bond

.750

10/31/24

4,595,354

EUR

1,095,000

g

Spain

Government

International

Bond

.400

07/30/28

1,005,614

EUR

1,875,000

g

Spain

Government

International

Bond

.600

10/31/29

1,592,050

EUR

1,250,000

g

Spain

Government

International

Bond

.100

04/30/31

968,330

EUR

2,650,000

g

Spain

Government

International

Bond

.200

10/31/40

1,787,827

TOTAL

SPAIN

9,949,175

SUPRANATIONAL

-

.8

%

GBP

695,000

African

Development

Bank

.500

06/22/26

700,749

INR

52,500,000

Asian

Development

Bank

.200

10/06/26

603,090

INR

41,700,000

Asian

Infrastructure

Investment

Bank

.000

12/08/31

445,454

1,250,000

g

Banque

Ouest

Africaine

de

Developpement

.700

10/22/31

941,646

EUR

650,000

g

Banque

Ouest

Africaine

de

Developpement

.750

01/22/33

446,418

AUD

2,150,000

Inter-American

Development

Bank

.750

08/27/24

1,389,004

CAD

1,600,000

International

Bank

for

Reconstruction

&

Development

.900

01/16/25

1,119,783

GBP

700,000

International

Finance

Corp

.250

12/15/25

716,818

GBP

400,000

z

International

Finance

Facility

for

Immunisation

Co

.750

06/07/25

441,319

TOTAL

SUPRANATIONAL

6,804,281

THAILAND

-

.7

%

THB

30,000,000

Thailand

Government

International

Bond

.450

12/17/24

779,980

THB

27,700,000

Thailand

Government

International

Bond

.875

12/17/28

726,813

THB

27,500,000

Thailand

Government

International

Bond

.300

06/17/38

672,179

THB

29,000,000

Thailand

Government

International

Bond

.000

06/17/42

554,399

TOTAL

THAILAND

2,733,371

UKRAINE

-

.1

%

EUR

1,000,000

g

Ukraine

Government

International

Bond

.750

06/20/28

142,061

EUR

425,000

g

Ukraine

Government

International

Bond

.375

01/27/32

61,534

TOTAL

UKRAINE

203,595

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UNITED

ARAB

EMIRATES

-

.0

%

$

250,000

†,z

Emirate

of

Dubai

Government

International

Bonds

.900

%

09/09/50

$

162,345

TOTAL

UNITED

ARAB

EMIRATES

162,345

UNITED

KINGDOM

-

.5

%

GBP

1,130,000

United

Kingdom

Gilt

.250

01/31/25

1,203,690

GBP

900,000

United

Kingdom

Gilt

.625

10/22/28

922,040

GBP

650,000

United

Kingdom

Gilt

.500

01/31/29

612,924

GBP

450,000

United

Kingdom

Gilt

.250

07/31/31

387,793

GBP

3,350,000

United

Kingdom

Gilt

.750

09/07/37

2,921,673

GBP

1,450,000

United

Kingdom

Gilt

.250

10/22/41

1,092,310

GBP

900,000

United

Kingdom

Gilt

.875

01/31/46

571,449

GBP

2,760,000

United

Kingdom

Gilt

.625

10/22/50

1,515,450

TOTAL

UNITED

KINGDOM

9,227,329

UNITED

STATES

-

.8

%

3,133,787

g,i

Freddie

Mac

STACR

REMIC

Trust

.647

01/25/34

3,050,910

TOTAL

UNITED

STATES

3,050,910

URUGUAY

-

.3

%

UYU

21,800,000

g

Uruguay

Government

International

Bond

.500

03/15/28

473,537

UYU

40,600,000

Uruguay

Government

International

Bond

.250

05/21/31

827,376

TOTAL

URUGUAY

1,300,913

UZBEKISTAN

-

.2

%

UZS

7,600,000,000

g

Republic

of

Uzbekistan

International

Bond

.000

07/19/24

660,290

TOTAL

UZBEKISTAN

660,290

TOTAL

GOVERNMENT

BONDS

234,105,948

(Cost

$307,513,529)

STRUCTURED

ASSETS

-

.9

%

IRELAND

-

.0

%

1,035,732

g,i

Atom

Mortgage

Securities

DAC

SONIA

Interest

Rate

Benchmark

+

1.900%

.698

07/22/31

1,029,284

Series

-

2021

1A

(Class

D)

1,227,845

g,i

Bruegel

2021

DAC

EURIBOR

M

+

2.470%

.861

05/22/31

1,142,151

Series

-

2021

1A

(Class

D)

1,900,000

g,i

Frost

CMBS

DAC

SONIA

Interest

Rate

Benchmark

+

2.900%

.838

11/20/33

1,990,449

Series

-

2021

1A

(Class

GBD)

895,985

g,i

Last

Mile

Logistics

Pan

Euro

Finance

DAC

EURIBOR

M

+

2.700%

.000

08/17/33

796,397

Series

-

2021

1A

(Class

E)

1,079,778

g,i

Last

Mile

Securities

PE

2021

DAC

EURIBOR

M

+

2.350%

.689

08/17/31

951,803

Series

-

2021

1A

(Class

D)

347,448

g,i

Taurus

UK

DAC

SONIA

Interest

Rate

Benchmark

+

1.300%

.259

05/17/31

379,839

Series

-

2021

UK1A

(Class

B)

1,035,395

g,i

Taurus

UK

DAC

SONIA

Interest

Rate

Benchmark

+

1.650%

.609

05/17/31

1,119,112

Series

-

2021

UK1A

(Class

C)

297,813

g,i

Taurus

UK

DAC

SONIA

Interest

Rate

Benchmark

+

2.600%

.559

05/17/31

320,767

Series

-

2021

UK1A

(Class

D)

TOTAL

IRELAND

7,729,802

ITALY

-

.2

%

893,385

g,i

Cassia

SRL

EURIBOR

M

+

3.500%

.321

05/22/34

815,000

Series

-

2022

1A

(Class

B)

TOTAL

ITALY

815,000

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

continued

PRINCIPAL

ISSUER

REFERENCE

RATE

&

SPREAD

RATE

MATURITY

DATE

VALUE

UNITED

STATES

-

.7

%

$

2,000,000

g,i

Alen

Mortgage

Trust

LIBOR

M

+

2.250%

.662

%

04/15/34

$

1,855,082

Series

-

2021

ACEN

(Class

C)

1,500,000

Carvana

Auto

Receivables

Trust

.270

03/10/28

1,401,007

Series

-

2021

N2

(Class

D)

1,500,000

i

COMM

Mortgage

Trust

.434

08/10/48

1,352,119

Series

-

2015

CR24

(Class

C)

683,163

g

Diamond

Resorts

Owner

Trust

.700

11/21/33

619,926

Series

-

2021

1A

(Class

C)

1,500,000

g,i

ELP

Commercial

Mortgage

Trust

LIBOR

M

+

2.667%

.080

11/15/38

1,354,604

Series

-

2021

ELP

(Class

F)

305,710

g

MVW

LLC

.940

01/22/41

269,567

Series

-

2021

1WA

(Class

C)

1,000,000

g,i

NCMF

Trust

.711

03/15/39

955,490

Series

-

2022

MFP

(Class

D)

500,000

g

Oportun

Issuance

Trust

.960

05/08/31

430,789

Series

-

2021

B

(Class

B)

500,000

g

Oportun

Issuance

Trust

.650

05/08/31

412,890

Series

-

2021

B

(Class

C)

1,250,000

g

Purchasing

Power

Funding

LLC

.370

10/15/25

1,178,356

Series

-

2021

A

(Class

D)

TOTAL

UNITED

STATES

9,829,830

TOTAL

STRUCTURED

ASSETS

18,374,632

(Cost

$21,441,452)

TOTAL

BONDS

332,919,078

(Cost

$434,993,299)

REFERENCERATE

&

SPREAD

SHORT-TERM

INVESTMENTS

-

5.6%

REPURCHASE

AGREEMENT

-

.8

%

14,220,000

r

Fixed

Income

Clearing

Corp

(FICC)

.030

11/01/22

14,220,000

TOTAL

REPURCHASE

AGREEMENT

14,220,000

TREASURY

DEBT

-

.7

%

JPY

970,000,000

Japan

Treasury

Discount

Bill

.000

11/28/22

6,524,146

TOTAL

TREASURY

DEBT

6,524,146

SHARES

COMPANY

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

-

.1

%

180,062

c

State

Street

Navigator

Securities

Lending

Government

Money

Market

Portfolio

.120

180,062

TOTAL

INVESTMENTS

IN

REGISTERED

INVESTMENT

COMPANIES

180,062

TOTAL

SHORT-TERM

INVESTMENTS

20,924,208

(Cost

$21,392,489)

TOTAL

INVESTMENTS

-

94.5%

355,485,176

(Cost

$458,076,780)

OTHER

ASSETS

&

LIABILITIES,

NET

-

5.5%

20,562,730

NET

ASSETS

-

100.0%

$

376,047,906

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

See

notes

to

financial

statements

continued

Principal

denominated

in

U.S.

Dollars,

unless

otherwise

noted.

AUD

Australian

Dollar

BRL

Brazilian

Real

CAD

Canadian

Dollar

CNY

Chinese

Yuan

DOP

Dominican

Republic

Peso

EGP

Egyptian

Pound

EUR

Euro

EURIBOR

EURO

Interbank

Offer

Rate

GBP

Pound

Sterling

HUF

Hungary

Forint

IDR

Indonesian

Rupiah

ILS

Israeli

New

Shekel

INR

Indian

Rupee

JPY

Japanese

Yen

KRW

South

Korean

Won

LIBOR

London

Interbank

Offered

Rate

M

Month

MXN

Mexican

Peso

MYR

Malaysian

Ringgit

NOK

Norwegian

Krone

NZD

New

Zealand

Dollar

PEN

Peruvian

Sol

PHP

Philippines

Peso

REMIC

Real

Estate

Mortgage

Investment

Conduit

RON

Romanian

Leu

RSD

Serbian

Dinar

SGD

Singapore

Dollar

SOFR

Secure

Overnight

Financing

Rate

SONIA

Sterling

Overnight

Interbank

Average

Rate

THB

Thai

Baht

UGX

Ugandan

Shilling

UYU

Uruguayan

Peso

UZS

Uzbekistani

Som

ZAR

South

African

Rand

†

For

fair

value

measurement

disclosure

purposes,

investment

classified

as

Level

3. ‡

Perpetual

security

c

Investments

made

with

cash

collateral

received

from

securities

on

loan.

e

All

or

a

portion

of

these

securities

are

out

on

loan.

The

aggregate

value

of

securities

on

loan

is

$228,063.

g

Security

is

exempt

from

registration

under

Rule

144(A)

of

the

Securities

Act

of

1933,

as

amended.

These

securities

are

deemed

liquid

and

may

be

resold

in

transactions

exempt

from

registration,

which

are

normally

those

transactions

with

qualified

institutional

buyers.

i

Floating

or

variable

rate

security

includes

the

reference

rate

and

spread,

unless

the

variable

rate

is

based

on

the

underlying

asset

of

the

security.

Coupon

rate

reflects

the

rate

at

period

end.

o

Payment

in

Kind

Bond

q

In

default

r

Agreement

with

Fixed

Income

Clearing

Corp

(FICC),

3.030%

dated

10/31/22

to

be

repurchased

at

$14,220,000

on

11/1/22,

collateralized

by

Government

Agency

Securities,

with

coupon

rate

2.000%

and

maturity

date

2/15/25,

valued

at

$14,504,484.

y

All

or

a

portion

of

this

security

is

owned

by

TIAA-CREF

International

Bond

Taxable

Offshore

Limited

which

is

a

100%

owned

subsidiary

of

the

fund.

z

All

or

a

portion

of

this

security

is

owned

by

TIAA-CREF

International

Bond

Offshore

Limited

which

is

a

100%

owned

subsidiary

of

the

fund.

Consolidated

portfolio

of

investments

International

Bond

Fund

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

See

notes

to

financial

statements

concluded

Forward

foreign

currency

contracts

outstanding

as

of

October

31,

2022

were

as

follows:

Currency

to

be

purchased

Receive

Currency

to

be

sold

Deliver

Counterparty

Settlement

date

Unrealized

appreciation

(depreciation)

$

3,134,330

NZD

5,362,183

Australia

and

New

Zealand

Banking

Group

01/31/23

$

12,241

$

257,781

GBP

222,009

Bank

of

America

01/31/23

$

1,393

$

594,523

PEN

2,392,954

Citibank

N.A.

02/02/23

$

(514)

JPY

280,708

$

1,917

Citibank

N.A.

11/28/22

(24)

JPY

960,237,449

$

6,627,239

Citibank

N.A.

01/31/23

(89,901)

KRW

927,551,741

$

647,049

Citibank

N.A.

12/02/22

2,950

Total

$

(87,489)

$

800,877

RON

3,965,566

Goldman

Sachs

01/31/23

$

10,013

$

117,786,357

EUR

116,844,903

Morgan

Stanley

01/31/23

$

1,433,172

$

513,418

HUF

219,293,922

Morgan

Stanley

11/02/22

(15,600)

$

517,976

HUF

218,031,531

Morgan

Stanley

01/31/23

5,921

$

1,462,459

ILS

5,087,163

Morgan

Stanley

01/31/23

10,901

$

7,078,529

JPY

970,280,708

Morgan

Stanley

11/28/22

532,871

$

3,952,507

NOK

40,440,760

Morgan

Stanley

01/31/23

50,108

$

1,366,639

THB

51,124,725

Morgan

Stanley

01/31/23

11,803

$

503,962

ZAR

9,092,982

Morgan

Stanley

01/31/23

12,300

Total

$

2,041,476

$

13,013,965

CAD

17,599,956

Standard

Chartered

Bank

01/31/23

$

78,813

EUR

243,550

$

242,574

Standard

Chartered

Bank

01/31/23

(49)

Total

$

78,764

$

8,603,854

AUD

13,195,022

Toronto

Dominion

Bank

01/31/23

$

137,031

$

38,694,251

CNY

279,132,928

Toronto

Dominion

Bank

02/02/23

295,084

$

24,323,507

GBP

20,956,767

Toronto

Dominion

Bank

01/31/23

215,481

$

41,082,563

JPY

5,959,372,979

Toronto

Dominion

Bank

01/31/23

510,899

$

12,227,891

KRW

16,264,439,862

Toronto

Dominion

Bank

12/02/22

830,283

GBP

495,335

$

574,302

Toronto

Dominion

Bank

01/31/23

(4,485)

Total

$

1,984,293

Total

$

4,040,691

AUD

Australian

Dollar

CAD

Canadian

Dollar

CNY

Chinese

Yuan

EUR

Euro

GBP

Pound

Sterling

HUF

Hungary

Forint

ILS

Israeli

New

Shekel

JPY

Japanese

Yen

KRW

South

Korean

Won

NOK

Norwegian

Krone

NZD

New

Zealand

Dollar

PEN

Peruvian

Sol

RON

Romanian

Leu

THB

Thai

Baht

ZAR

South

African

Rand

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

TIAA-CREF

Funds

October

31,

2022

Statements

of

assets

and

liabilities

See

notes

to

financial

statements

6.1 Emerging

Markets

Debt

Fund

6.2 International

Bond

Fund

§

ASSETS

Portfolio

investments,

at

value

\*†

$

515,668,141

$

355,485,175

Cash

1,115

–

Cash

-

foreign

^

163,220

1,363,508

Receivable

from

securities

transactions

–

266,994

Receivable

from

Fund

shares

sold

1,387,128

12,692,335

Dividends

and

interest

receivable

8,933,831

3,363,345

Due

from

affiliates

217,203

252,756

Unrealized

appreciation

on

forward

foreign

currency

contracts

–

4,151,264

Other

12,144

7,279

Total

assets

526,382,782

377,582,656

LIABILITIES

Management

fees

payable

237,040

156,925

Service

agreement

fees

payable

6,299

1,026

Distribution

fees

payable

2,048

Due

to

affiliates

7,652

648

Overdraft

payable

–

934,767

Payable

for

collateral

for

securities

loaned

16,938,710

180,062

Payable

for

securities

transactions

524,892

6,560

Payable

for

Fund

shares

redeemed

1,706,387

6,173

Payable

for

trustee

compensation

10,901

6,658

Unrealized

depreciation

on

forward

foreign

currency

contracts

–

110,573

Accrued

expenses

and

other

payables

105,236

131,022

Total

liabilities

19,539,165

1,534,750

NET

ASSETS

$

506,843,617

$

376,047,906

NET

ASSETS

CONSIST

OF:

Paid-in-capital

$

674,715,466

$

477,677,088

Total

distributable

earnings

(loss)

(167,871,849)

(101,629,182)

NET

ASSETS

$

506,843,617

$

376,047,906

INSTITUTIONAL

CLASS:

Net

assets

$

35,532,714

$

629,924

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

4,838,522

79,175

Net

asset

value

per

share

$

.34

$

.96

ADVISOR

CLASS:

Net

assets

$

17,890,492

$

105,825

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

2,429,565

13,283

Net

asset

value

per

share

$

.36

$

.97

PREMIER

CLASS:

Net

assets

$

186,712

$

82,383

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

25,434

10,285

Net

asset

value

per

share

$

.34

$

.01

RETIREMENT

CLASS:

Net

assets

$

13,771,043

$

4,434,852

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

1,876,811

557,786

Net

asset

value

per

share

$

.34

$

.95

RETAIL

CLASS:

Net

assets

$

8,721,943

$

1,448,048

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

1,187,658

181,993

Net

asset

value

per

share

$

.34

$

.96

CLASS

W:

Net

assets

$

430,740,713

$

369,346,874

Outstanding

shares

of

beneficial

interest,

unlimited

shares

authorized

($.0001

par

value)

58,649,239

46,394,170

Net

asset

value

per

share

$

.34

$

.96

§

Consolidated

statement

of

assets

and

liabilities

(see

Note

2)

\*

Includes

securities

loaned

of

$

17,857,738

$

228,063

†

Portfolio

investments,

cost

$

675,235,878

$

458,076,780

^

Foreign

cash,

cost

$

189,237

$

1,596,192

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

TIAA-CREF

Funds

For

the

year

ended

October

31,

2022

Statements

of

operations

See

notes

to

financial

statements

6.1 Emerging

Markets

Debt

Fund

6.2 International

Bond

Fund

§

INVESTMENT

INCOME

Interest\*

$

36,701,604

$

11,973,339

Total

income

36,701,604

11,973,339

EXPENSES

Management

fees

3,041,975

2,297,494

Shareholder

servicing

—

Institutional

Class

1,177

Shareholder

servicing

—

Advisor

Class

13,766

Shareholder

servicing

—

Premier

Class

Shareholder

servicing

—

Retirement

Class

41,284

12,982

Shareholder

servicing

—

Retail

Class

8,692

3,975

Shareholder

servicing

—

Class

W

758

2,382

Distribution

fees

—

Premier

Class

Distribution

fees

—

Retail

Class

33,465

4,102

Administrative

service

fees

84,800

83,738

Trustee

fees

and

expenses

6,764

5,758

Other

expenses

280,276

409,433

Total

expenses

3,513,314

2,820,336

Less:

Expenses

reimbursed

by

the

investment

adviser

(2,831,628)

(2,741,138)

Less:

Fee

waiver

by

investment

adviser

and

Nuveen

Securities

–

(808)

Net

expenses

681,686

78,390

Net

investment

income

(loss)

36,019,918

11,894,949

NET

REALIZED

AND

UNREALIZED

GAIN

(LOSS)

ON

TOTAL

INVESTMENTS

Realized

gain

(loss):

Portfolio

investments

(12,373,446)

(12,540,697)

Forward

foreign

currency

contracts

(132,753)

54,067,682

Foreign

currency

transactions

(1,615,218)

(12,714,785)

Net

realized

gain

(loss)

on

total

investments

(14,121,417)

28,812,200

Change

in

unrealized

appreciation

(depreciation)

on:

Portfolio

investments

‡

(155,307,966)

(103,769,183)

Forward

foreign

currency

contracts

71,594

2,821,118

Translation

of

assets

(other

than

portfolio

investments)

and

liabilities

denominated

in

foreign

currencies

(24,769)

(384,237)

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(155,261,141)

(101,332,302)

Net

realized

and

unrealized

gain

(loss)

on

total

investments

(169,382,558)

(72,520,102)

Net

increase

(decrease)

in

net

assets

from

operations

$

(133,362,640)

$

(60,625,153)

§

Consolidated

statement

of

operations

(see

Note

2)

\*

Net

of

foreign

withholding

taxes

of

$

106,005

$

159,736

‡

Includes

net

change

in

unrealized

foreign

capital

gains

taxes

$

16,863

$

–

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

TIAA-CREF

Funds

For

the

year

ended

Statements

of

changes

in

net

assets

See

notes

to

financial

statements

6.1 Emerging

Markets

Debt

Fund

6.2 International

Bond

Fund

§

October

31,

2022

October

31,

2021

October

31,

2022

October

31,

2021

OPERATIONS

Net

investment

income

(loss)

$

36,019,918

$

32,955,966

$

11,894,949

$

10,299,909

Net

realized

gain

(loss)

on

total

investments

(14,121,417)

3,627,198

28,812,200

8,999,332

Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments

(155,261,141)

14,337,165

(101,332,302)

(18,656,563)

Net

increase

(decrease)

in

net

assets

from

operations

(133,362,640)

50,920,329

(60,625,153)

642,678

DISTRIBUTIONS

TO

SHAREHOLDERS

–

–

–

–

Institutional

Class

Institutional

Class

(2,562,552)

(2,801,324)

(58,285)

(24,626)

Advisor

Class

Advisor

Class

(980,991)

(885,555)

(24,223)

(3,221)

Premier

Class

Premier

Class

(12,046)

(17,541)

(7,463)

(2,701)

Retirement

Class

Retirement

Class

(899,765)

(828,970)

(397,067)

(212,350)

Retail

Class

Retail

Class

(760,240)

(798,780)

(126,081)

(45,719)

Class

W

Class

W

(28,691,134)

(25,831,466)

(41,868,656)

(14,770,167)

Total

distributions

(33,906,728)

(31,163,636)

(42,481,775)

(15,058,784)

SHAREHOLDER

TRANSACTIONS

Subscriptions:

Institutional

Class

24,070,494

39,940,984

108,013

132,566

Advisor

Class

Advisor

Class

13,453,882

8,024,249

2,222,292

938

Premier

Class

Premier

Class

654

950,351

–

–

Retirement

Class

Retirement

Class

2,442,759

5,143,604

663,466

924,606

Retail

Class

Retail

Class

28,247,943

38,414,089

136,282

335,439

Class

W

Class

W

182,749,480

121,940,374

98,208,491

167,042,654

Reinvestments

of

distributions:

Institutional

Class

2,488,331

2,769,318

57,534

24,347

Advisor

Class

Advisor

Class

974,329

879,601

15,563

Premier

Class

Premier

Class

6,876

–

–

Retirement

Class

Retirement

Class

899,292

828,550

396,274

212,062

Retail

Class

Retail

Class

749,791

794,022

124,685

45,120

Class

W

Class

W

–

–

4,061,058

4,197,582

Redemptions:

Institutional

Class

(54,216,258)

(13,465,364)

(102,231)

(279,803)

Advisor

Class

Advisor

Class

(10,450,767)

(10,865,753)

(2,169,777)

(12,513)

Premier

Class

Premier

Class

–

(950,080)

–

–

Retirement

Class

Retirement

Class

(3,715,544)

(5,145,963)

(1,188,367)

(3,254,737)

Retail

Class

Retail

Class

(32,186,716)

(44,010,220)

(186,770)

(430,222)

Class

W

Class

W

(83,967,139)

(142,352,264)

(148,162,366)

(68,365,571)

Net

increase

(decrease)

from

shareholder

transactions

71,540,724

2,902,374

(45,815,853)

100,572,482

Net

increase

(decrease)

in

net

assets

(95,728,644)

22,659,067

(148,922,781)

86,156,376

NET

ASSETS

Beginning

of

period

602,572,261

579,913,194

524,970,687

438,814,311

End

of

period

$

506,843,617

$

602,572,261

$

376,047,906

$

524,970,687

CHANGE

IN

FUND

SHARES

Shares

sold:

Institutional

Class

2,769,736

3,936,543

10,579

13,055

Advisor

Class

Advisor

Class

1,650,967

790,673

248,625

Premier

Class

Premier

Class

95,130

–

–

Retirement

Class

Retirement

Class

269,859

506,475

70,321

90,898

Retail

Class

Retail

Class

3,356,330

3,803,134

15,027

33,021

Class

W

Class

W

21,570,782

12,072,225

10,945,962

16,475,567

Shares

reinvested:

Institutional

Class

289,085

273,789

6,699

2,398

Advisor

Class

Advisor

Class

114,535

86,744

1,937

Premier

Class

Premier

Class

694

–

–

Retirement

Class

Retirement

Class

105,150

81,938

46,285

20,913

Retail

Class

Retail

Class

85,814

78,796

14,628

4,445

Class

W

Class

W

–

–

414,817

413,555

Shares

redeemed:

Institutional

Class

(5,982,255)

(1,345,820)

(11,751)

(28,009)

Advisor

Class

Advisor

Class

(1,262,730)

(1,070,239)

(249,055)

(1,217)

Premier

Class

Premier

Class

–

(95,775)

–

–

Retirement

Class

Retirement

Class

(425,603)

(511,433)

(132,140)

(325,540)

Retail

Class

Retail

Class

(3,829,112)

(4,364,829)

(22,354)

(42,835)

Class

W

Class

W

(10,092,773)

(14,038,199)

(16,672,825)

(6,755,942)

Net

increase

(decrease)

from

shareholder

transactions

8,619,877

299,846

(5,313,245)

9,900,404

§

Consolidated

statement

of

changes

in

net

assets

(see

Note

2)

TIAA-CREF

Funds

Financial

highlights

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

6.1 EMERGING

MARKETS

DEBT

FUND

Institutional

Class:

10/31/22

$

.97

$

.52

$

(2

.66)

$

(2

.14)

$

(0

.49)

$

—

$

(0

.49)

$

.34

10/31/21

.65

.47

.29

.76

(0

.44)

—

(0

.44)

.97

10/31/20

.10

.50

(0

.48)

.02

(0

.47)

—

(0

.47)

.65

10/31/19

.18

.58

.85

.43

(0

.51)

—

(0

.51)

.10

10/31/18

.47

.58

(1

.13)

(0

.55)

(0

.53)

(0

.21)

(0

.74)

.18

Advisor

Class:

10/31/22

.00

.51

(2

.67)

(2

.16)

(0

.48)

—

(0

.48)

.36

10/31/21

.67

.46

.30

.76

(0

.43)

—

(0

.43)

.00

10/31/20

.13

.51

(0

.51)

.00

d

(0

.46)

—

(0

.46)

.67

10/31/19

.20

.57

.87

.44

(0

.51)

—

(0

.51)

.13

10/31/18

.48

.59

(1

.14)

(0

.55)

(0

.52)

(0

.21)

(0

.73)

.20

Premier

Class:

10/31/22

.97

.50

(2

.66)

(2

.16)

(0

.47)

—

(0

.47)

.34

10/31/21

.65

.47

.28

.75

(0

.43)

—

(0

.43)

.97

10/31/20

.09

.51

(0

.50)

.01

(0

.45)

—

(0

.45)

.65

10/31/19

.17

.57

.85

.42

(0

.50)

—

(0

.50)

.09

10/31/18

.46

.55

(1

.11)

(0

.56)

(0

.52)

(0

.21)

(0

.73)

.17

Retirement

Class:

10/31/22

.97

.50

(2

.66)

(2

.16)

(0

.47)

—

(0

.47)

.34

10/31/21

.64

.45

.30

.75

(0

.42)

—

(0

.42)

.97

10/31/20

.09

.49

(0

.50)

(0

.01)

(0

.44)

—

(0

.44)

.64

10/31/19

.18

.56

.84

.40

(0

.49)

—

(0

.49)

.09

10/31/18

.46

.55

(1

.11)

(0

.56)

(0

.51)

(0

.21)

(0

.72)

.18

Retail

Class:

10/31/22

.97

.50

(2

.67)

(2

.17)

(0

.46)

—

(0

.46)

.34

10/31/21

.64

.43

.30

.73

(0

.40)

—

(0

.40)

.97

10/31/20

.09

.48

(0

.49)

(0

.01)

(0

.44)

—

(0

.44)

.64

10/31/19

.18

.56

.83

.39

(0

.48)

—

(0

.48)

.09

10/31/18

.46

.55

(1

.12)

(0

.57)

(0

.50)

(0

.21)

(0

.71)

.18

Class

W:

10/31/22

.98

.57

(2

.67)

(2

.10)

(0

.54)

—

(0

.54)

.34

10/31/21

.65

.53

.30

.83

(0

.50)

—

(0

.50)

.98

10/31/20

.11

.57

(0

.50)

.07

(0

.53)

—

(0

.53)

.65

10/31/19

.19

.65

.84

.49

(0

.57)

—

(0

.57)

.11

10/31/18

†

.37

.05

(0

.23)

(0

.18)

—

—

—

.19

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

d

Amount

represents

less

than

$0.01

per

share.

See

notes

to

financial

statements

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(22

.07)

%

$

35,533

.62

%

.62

%

.93

%

%

.90

77,422

.61

.61

.67

.44

47,256

.62

.62

.22

.00

40,886

.63

.63

.01

(5

.58)

16,835

.65

.65

.82

(22

.17)

17,890

.69

.69

.96

.91

19,272

.69

.69

.55

.26

20,506

.69

.69

.29

.00

18,116

.71

.71

.82

(5

.56)

2,330

.71

.71

.94

(22

.21)

.78

.78

.86

.74

.80

.80

.61

.29

.78

.78

.19

.84

882

.79

.79

.91

(5

.72)

1,040

.80

.80

.74

(22

.21)

13,771

.87

.80

.84

.78

19,212

.86

.82

.44

.18

17,840

.87

.87

.07

.61

19,204

.88

.88

.79

(5

.73)

14,626

.90

.90

.55

(22

.32)

8,722

.93

.93

.68

.61

15,698

.94

.94

.30

.12

19,832

.93

.93

.01

.55

22,567

.92

.92

.77

(5

.79)

6,326

.99

.99

.63

(21

.65)

430,741

.62

0.00 6

.64

.66

470,716

.61

0.00 5

.24

.98

474,236

.62

0.00 5

.89

.72

433,771

.63

0.00 6

.68

(1

.92)

b

401,249

.64

c

0.00 c

.37

c

Financial

highlights

TIAA-CREF

Funds

See

notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

Selected

per

share

data

Gain

(loss)

from

investment

operations

Less

distributions

from

For

the

period

or

year

ended

Net

asset

value,

beginning

of

period

Net

investment

income

(loss)

a

Net

realized

and

unrealized

gain

(loss)

on

total

investments

Total

gain

(loss)

from

investment

operations

Net

investment

income

Net

realized

gains

Total

dividends

and

distributions

Net

asset

value,

end

of

period

–

INTERNATIONAL

BOND

FUND

§

Institutional

Class:

10/31/22

$

.94

$

.18

$

(1

.41)

$

(1

.23)

$

(0

.67)

$

(0

.08)

$

(0

.75)

$

.96

10/31/21

.24

.15

(0

.17)

(0

.02)

(0

.18)

(0

.10)

(0

.28)

.94

10/31/20

.27

.14

.10

.24

(0

.27)

—

(0

.27)

.24

10/31/19

.71

.19

.91

.10

(0

.54)

—

(0

.54)

.27

10/31/18

.89

.19

(0

.18)

.01

(0

.19)

—

(0

.19)

.71

Advisor

Class:

10/31/22

.92

.18

(1

.40)

(1

.22)

(0

.65)

(0

.08)

(0

.73)

.97

10/31/21

.23

.14

(0

.17)

(0

.03)

(0

.18)

(0

.10)

(0

.28)

.92

10/31/20

.27

.14

.09

.23

(0

.27)

—

(0

.27)

.23

10/31/19

.71

.18

.91

.09

(0

.53)

—

(0

.53)

.27

10/31/18

.90

.18

(0

.18)

.00

d

(0

.19)

—

(0

.19)

.71

Premier

Class:

10/31/22

.99

.17

(1

.42)

(1

.25)

(0

.65)

(0

.08)

(0

.73)

.01

10/31/21

.29

.13

(0

.16)

(0

.03)

(0

.17)

(0

.10)

(0

.27)

.99

10/31/20

.34

.13

.08

.21

(0

.26)

—

(0

.26)

.29

10/31/19

.77

.17

.92

.09

(0

.52)

—

(0

.52)

.34

10/31/18

.89

.17

(0

.17)

.00

d

(0

.12)

—

(0

.12)

.77

Retirement

Class:

10/31/22

.91

.16

(1

.41)

(1

.25)

(0

.63)

(0

.08)

(0

.71)

.95

10/31/21

.22

.12

(0

.17)

(0

.05)

(0

.16)

(0

.10)

(0

.26)

.91

10/31/20

.27

.12

.09

.21

(0

.26)

—

(0

.26)

.22

10/31/19

.71

.16

.91

.07

(0

.51)

—

(0

.51)

.27

10/31/18

.88

.16

(0

.18)

(0

.02)

(0

.15)

—

(0

.15)

.71

Retail

Class:

10/31/22

.91

.15

(1

.41)

(1

.26)

(0

.61)

(0

.08)

(0

.69)

.96

10/31/21

.22

.11

(0

.17)

(0

.06)

(0

.15)

(0

.10)

(0

.25)

.91

10/31/20

.28

.11

.09

.20

(0

.26)

—

(0

.26)

.22

10/31/19

.71

.15

.92

.07

(0

.50)

—

(0

.50)

.28

10/31/18

.88

.15

(0

.18)

(0

.03)

(0

.14)

—

(0

.14)

.71

Class

W:

10/31/22

.99

.24

(1

.42)

(1

.18)

(0

.77)

(0

.08)

(0

.85)

.96

10/31/21

.29

.21

(0

.17)

.04

(0

.24)

(0

.10)

(0

.34)

.99

10/31/20

.28

.21

.08

.29

(0

.28)

—

(0

.28)

.29

10/31/19

.71

.25

.92

.17

(0

.60)

—

(0

.60)

.28

10/31/18

†

.74

.02

(0

.05)

(0

.03)

—

—

—

.71

§

Consolidated

financial

highlights

(see

Note

2)

†

Class

W

commenced

operations

on

September

28,

2018. a

Based

on

average

shares

outstanding.

b

The

percentages

shown

for

this

period

are

not

annualized.

c

The

percentages

shown

for

this

period

are

annualized.

d

Amount

represents

less

than

$0.01

per

share.

See

notes

to

financial

statements

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

concluded

Ratios

and

supplemental

data

Ratios

to

average

net

assets

Total

return

Net

assets

at

end

of

period

(in

thousands)

Gross

expenses

Net

expenses

Net

investment

income

(loss)

Portfolio

turnover

rate

(12

.72)

%

$

630

.61

%

.59

%

.03

%

%

(0

.26)

732

.60

.60

.46

.39

883

.62

.60

.43

.63

717

.67

.62

.87

.07

.70

.65

.87

(12

.61)

.69

.67

.10

(0

.39)

.68

.68

.38

.30

.64

.62

.42

.60

.70

.65

.85

(0

.06)

.71

.66

.83

(12

.89)

.78

.75

.86

(0

.42)

.80

.75

.31

.14

.80

.77

.28

.48

.83

.79

.71

(0

.04)

.86

.80

.69

(12

.97)

4,435

.86

.84

.77

(0

.58)

5,682

.84

.84

.21

.13

8,041

.87

.85

.18

.36

5,903

.91

.87

.62

(0

.18)

4,326

.95

.90

.61

(13

.01)

1,448

.10

.94

.68

(0

.68)

1,731

.49

.94

.12

.98

1,840

.09

.96

.08

.36

1,297

.17

.99

.50

(0

.36)

1,077

.13

.00

.50

(12

.23)

369,347

.61

0.00 2

.60

.29

516,606

.59

0.00 2

.07

.95

427,813

.62

0.00 2

.05

.44

404,046

.66

0.00 2

.49

(0

.31)

b

336,319

.67

c

0.00 c

.98

c

TIAA-CREF

Funds

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

Notes

to

financial

statements

Note

1—organization

TIAA-CREF

Funds

(the

"Trust")

is

a

Delaware

statutory

trust

that

is

registered

with

the

U.S.

Securities

and

Exchange

Commission

("SEC")

under

the

Investment

Company

Act

of

1940,

as

amended

("1940

Act"),

as

an

open-end

management

investment

company.

The

following

are

the

TIAA-CREF

Funds

included

in

this

report:

Emerging

Markets

Debt

Fund

and

International

Bond

Fund

(collectively

the

"Funds"

or

individually,

the

"Fund").

Teachers

Advisors,

LLC

(the

"Adviser"),

a

wholly

owned

indirect

subsidiary

of

Teachers

Insurance

and

Annuity

Association

of

America

("TIAA"),

is

registered

with

the

SEC

as

an

investment

adviser

and

provides

investment

management

services

for

the

Funds.

The

Funds

offer

their

shares,

without

a

sales

load,

through

their

principal

underwriter,

Nuveen

Securities,

LLC

("Nuveen

Securities"),

which

is

a

wholly

owned

indirect

subsidiary

of

TIAA.

The

Funds

offer

six

share

classes:

Institutional

Class,

Advisor

Class,

Premier

Class,

Retirement

Class,

Retail

Class

and

Class

W

shares.

Each

class

differs

by

the

allocation

of

class-specific

expenses

and

voting

rights

in

matters

affecting

a

single

class.

Note

2—significant

accounting

policies

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

Funds

are

investment

companies

and

follow

the

accounting

guidance

in

the

Financial

Accounting

Standards

Board

("FASB")

Accounting

Standards

Codification

946,

Financial

Services

—

Investment

Companies

. The

net

asset

value

("NAV")

for

financial

reporting

purposes

may

differ

from

the

NAV

for

processing

transactions.

The

NAV

for

financial

reporting

purposes

includes

security

and

shareholder

transactions

through

the

date

of

the

report.

Total

return

is

computed

based

on

the

NAV

used

for

processing

transactions.

The

following

is

a

summary

of

the

significant

accounting

policies

consistently

followed

by

the

Funds

.

Investments

and

investment

income:

Securities

transactions

are

accounted

for

as

of

the

trade

date

for

financial

reporting

purposes.

Interest

income

is

recorded

on

an

accrual

basis

and

includes

accretion

of

discounts

and

amortization

of

premiums.

Dividend

income

is

recorded

on

the

ex-dividend

date.

Foreign

dividend

income

is

recorded

on

the

ex-dividend

date

or

as

soon

as

possible

after

the Funds

determine

the

existence

of

a

dividend

declaration.

Securities

lending

income

is

comprised

of

fees

earned

from

borrowers

and

income

earned on

cash

collateral

investments. 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

gains

are

recorded

as

a

reduction

of

cost

of

investments

and/or

as

a

realized

gain.

The

Funds estimate

the

components

of

distributions

received

that

may

be

considered

return

of

capital

distributions

or

capital

gain

distributions.

Multiclass

operations

and

allocations:

Income, expenses,

realized

gains

and

losses

and

unrealized

appreciation

and

depreciation

of

a

Fund

are

allocated

on

a

pro

rata

basis

to

each

class

of

shares,

except

for

service

agreement

fees,

distribution

fees

and

transfer

agency

fees

and

expenses, which

are

unique

to

each

class

of

shares.

Most

expenses

of

the

Trust

can

be

directly

attributed

to

a

fund.

Expenses

that

cannot

be

directly

attributed

are

allocated

to

each

fund

in

the

Trust

based

upon

the

average

net

assets

of

each

fund.

Distributions

to

shareholders:

Distributions

to

shareholders

are

recorded

on

the

ex-dividend

date.

The

amount,

character

and

timing

of

distributions

are

determined

in

accordance

with

federal

income

tax

regulations,

which

may

differ

from

U.S.

GAAP.

Foreign

currency

transactions

and

translation:

The

books

and

records

of

the

Funds

are

maintained

in

U.S.

dollars.

Assets,

including

investments,

and

liabilities

denominated

in

foreign

currencies

are

translated

into

U.S.

dollars

at

the

end

of

each

day.

Purchases

and

sales

of

securities,

income,

and

expenses

are

translated

into

U.S.

dollars

at

the

prevailing

exchange

rate

on

the

respective

dates

of

the

transactions.

Net

realized

foreign

currency

gains

and

losses

resulting

from

changes

in

exchange

rates

associated

with

(i) foreign

currency,

(ii) investments

and

(iii) derivatives

include

foreign

currency

gains

and

losses

between

trade

date

and

settlement

date

of

the

transactions,

foreign

currency

transactions,

and

the

difference

between

the

amounts

of

interest

and

dividends

recorded

on

the

books

of

the

Funds

and

the

amounts

actually

received

and

are

recognized

as

a

component

of

"Net

realized

gain

(loss)

on

total

investments"

on

the

Statements

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

currency

exchange

rates

and

changes

in

foreign

exchange

rates

associated

with

(i) investments

and

(ii) other

assets

and

liabilities

are

recognized

as

a

component

of

"Net

change

in

unrealized

appreciation

(depreciation)

of

total investments"

on

the

Statements

of

operations,

when

applicable.

The

unrealized

gains

and

losses

resulting

from

changes

in

foreign

exchange

rates

associated

with

investments

in

derivatives

are

recognized

as

a

component

of

the

respective

derivative's

related "Net

change

in

unrealized

appreciation

(depreciation)

on

total

investments"

on

the

Statements

of

operations,

when

applicable.

Foreign

taxes:

The Funds

may

be

subject

to

foreign

taxes

on

income,

gains

on

investments

or

currency

repatriation,

a

portion

of

which

may

be

recoverable.

The Funds

will

accrue

such

taxes

and

recoveries

as

applicable,

based

upon

the

current

interpretation

of

tax

rules

and

regulations

that

exist

in

the

markets

in

which

the Funds

invest.

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

continued

Trustee

compensation:

The

Funds pay

the

members

of

the

Board

of

Trustees

("Board"),

all

of

whom

are

independent,

certain

remuneration

for

their

services,

plus

travel

and

other

expenses.

Trustees

may

elect

to

participate

in

a

deferred

compensation

plan

and

defer

all

or

a

portion

of

their

compensation.

In

addition,

trustees

participate

in

a

long-term

compensation

plan.

Amounts

deferred

are

retained

by

the

Funds

until

paid.

Amounts

payable

to

the

trustees

for

compensation

are

included

separately

in the

accompanying

Statements

of

assets

and

liabilities.

Trustees'

fees,

including

any

deferred

and

long-term

compensation

incurred,

are

reflected

in

the

Statements

of

operations.

Indemnification:

Under

the

Trust's

organizational

documents,

its

officers

and trustees

are

indemnified

against

certain

liabilities

arising

out

of

the

performance

of

their

duties

to

the

Trust.

In

addition,

in

the

normal

course

of

business,

the

Trust

enters

into

contracts

that

provide

general

indemnifications

to

other

parties.

The

Trust's

maximum

exposure

under

these

arrangements

is

unknown

as

this

would

involve

future

claims

that

may

be

made

against

the

Trust

that

have

not

yet

occurred.

However,

the

Trust

has

not

had

prior

claims

or

losses

pursuant

to

these

contracts

and

expects

the

risk

of

loss

to

be

remote.

Other

matters:

The

outbreak

of

the

novel

coronavirus

("COVID-19")

and

subsequent

global

pandemic

began

significantly

impacting

the

U.S.

and

global

financial

markets

and

economies

during

the

calendar

quarter

ended

March

31,

2020. The

worldwide

spread

of

has

created

significant

uncertainty

in

the

global

economy.

The

duration

and

extent

of

over

the

long

term

cannot

be

reasonably

estimated

at

this

time.

The

ultimate

impact

of

and

the

extent

to

which

impacts

the Funds'

normal

course

of

business,

results

of

operations,

investments,

and

cash

flows

will

depend

on

future

developments,

which

are

highly

uncertain

and

difficult

to

predict.

Management

continues

to

monitor

and

evaluate

this

situation.

Basis

for

consolidation:

The

International

Bond

Fund

is

presented

on

a

consolidated

basis

with

the

TIAA-CREF

International

Bond

Fund

Offshore

Limited

(the

"Regulation

S

Subsidiary")

and

the

TIAA-CREF

International

Bond

Fund

Taxable

Offshore

Limited

(the

"TEFRA

Bond

Subsidiary").

Both

the

Regulation

S

Subsidiary

and

TEFRA

Bond

Subsidiary

(the

"Subsidiaries")

are

wholly

owned

subsidiaries

of

the

International

Bond

Fund

organized

under

the

laws

of

the

Cayman

Islands.

The

Regulation

S

Subsidiary

commenced

operations

on

March

1,

2017

and

is

intended

to

provide

the

Fund

with

exposure

to

Regulation

S

fixed

income

securities.

Regulation

S

securities

are

securities

of

U.S.

and

non-U.S.

issuers

that

are

issued

through

private

placement

transactions

with

the

SEC

pursuant

to

Regulation

S

under

the

Securities

Act

of

1933,

as

amended.

The

TEFRA

Bond

Subsidiary

commenced

operations

on

September

1,

2022

and

is

intended

to

provide

the

Fund

with

exposure

to

TEFRA

fixed

income

securities.

TEFRA

securities

are

securities

that

are

sold

subject

to

selling

restrictions

generally

designed

to

restrict

the

purchase

of

such

bonds

to

non-U.S.

persons

(as

defined

for

applicable

U.S.

federal

income

tax

purposes).

Both

Subsidiaries

are

advised

by

the

Adviser

and

have

the

same

investment

objective

as

the

Fund

(except

that

the

Regulation

S

Subsidiary

may

invest

without

limitation

in

Regulation

S

securities

and

the

TEFRA

Bond

Subsidiary

may

invest

without

limitation

in

TEFRA

bonds).

All

inter-company

transactions

and

balances

have

been

eliminated.

Select

financial

information

related

to

the

Subsidiary

is

as

follows:

New

accounting

pronouncement:

In

March

2020,

FASB

issued

Accounting

Standards

Update

("ASU")

2020-04,

Reference

Rate

Reform:

Facilitation

of

the

Effects

of

Reference

Rate

Reform

on

Financial

Reporting.

The

main

objective

of

the

new

guidance

is

to

provide

relief

to

companies

that

will

be

impacted

by

the

expected

change

in

benchmark

interest

rates,

when

participating

banks

will

no

longer

be

required

to

submit

London

Interbank

Offered

Rate

(LIBOR)

quotes

by

the

UK

Financial

Conduct

Authority

(FCA).

The

new

guidance

allows

companies

to,

provided

the

only

changes

to

existing

contracts are

a

change

to

an

approved

benchmark

interest

rate,

account

for

modifications

as

a

continuance

of

the

existing

contract

without

additional

analysis.

For

new

and

existing

contracts,

the Funds

may

elect

to

apply

the

amendments

as

of

March

12,

2020

through

December

31,

2022. Management

has

not

yet

elected

to

apply

the

amendments,

is

continuously

evaluating

the

potential

effect

a

discontinuation

of

LIBOR

could

have

on

the Funds'

investments

and

has

currently

determined

that

it

is

unlikely

the

ASU's

adoption

will

have

a significant

impact on

the Funds' financial

statements

and

various

filings.

New

accounting

pronouncement:

In

June

2022,

the

FASB

issued

ASU

2022-03

to

clarify

the

guidance

in

Topic

820,

Fair

Value

Measurement

("Topic

820").

The

amendments

in

ASU

2022-03

affect

all

entities

that

have

investments

in

equity

securities

measured

at

fair

value

that

are

subject

to

a

contractual

sale

restriction.

ASU

2022-03

(1) clarifies

the

guidance

in

Topic

820,

when

measuring

the

fair

value

of

an

equity

security

subject

to

contractual

restrictions

that

prohibit

the

sale

of

an

equity

security,

(2) amends

a

related

illustrative

example,

and

(3) introduces

new

disclosure

requirements

for

equity

securities

subject

to

contractual

sale

restrictions

that

are

measured

at

fair

value

in

accordance

with

Topic

820. For

public

business

entities,

the

amendments

in

ASU

2022-03

are

effective

for

fiscal

years

beginning

after

December

15,

2023,

and

interim

periods

within

those

fiscal

years.

For

all

other

entities,

the

amendments

are

effective

for

fiscal

years

beginning

after

December

15,

2024,

and

interim

periods

within

those

fiscal

years.

Early

adoption

is

permitted

for

both

interim

and

annual

financial

statements

that

have

not

yet

been

issued

or

made

available

for

issuance.

Management

is

currently

assessing

the

impact

of

these

provisions

on

the

Funds' financial

statements.

Regulation

S

Subsidiary

TEFRA

Bond

Subsidiary

Total

market

value

of

investments

$27,700,617

$238,816

Net

assets

27,956,881

405,688

Net

investment

income

(loss)

584,363

(48,457)

Net

realized

gain

(loss)

(1,984,757)

(9,329)

Net

change

in

unrealized

appreciation

(depreciation)

(11,373,702)

5,384

%

of

Fund's

consolidated

net

assets

7%

0%

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

continued

New

rule

issuance:

A

new

rule

adopted

by

the

SEC

governing

fund

valuation

practices,

Rule

2a-5

under

the

1940

Act,

has

established

requirements

for

determining

fair

value

in

good

faith

for

purposes

of

the

1940

Act.

Rule

2a-5

permits

fund

boards

to

designate

certain

parties

to

perform

fair

value

determinations,

subject

to

board

oversight

and

certain

other

conditions.

Rule

2a-5

also

defines

when

market

quotations

are

"readily

available"

for

purposes

of

Section

2(a)(41)

of

the

1940

Act,

which

requires

a

fund

to

fair

value

a

security

when

market

quotations

are

not

readily

available.

Separately,

new

SEC

Rule

31a-4

under

the

1940

Act

sets

forth

the

recordkeeping

requirements

associated

with

fair

value

determinations.

The Funds

adopted

a

valuation

policy

conforming

to

the

new

rules,

effective

September

1,

2022,

and

there

was

no

material

impact

to

the

Funds.

Note

3—valuation

of

investments

The Funds'

investments

in

securities

are

recorded

at

their

estimated

fair

value

utilizing

valuation

methods

approved

by

the

Adviser,

subject

to

the

review

and

oversight

of

the

Board.

Fair

value

is

defined

as

the

price

that

would

be

received

upon

selling

an

investment

or

transferring

a

liability

in

an

orderly

transaction

to

an

independent

buyer

in

the

principal

or

most

advantageous

market

for

the

investment.

U.S.

GAAP

establishes

the

three-tier

hierarchy

that

is

used

to

maximize

the

use

of

observable

market

data

and

minimize

the

use

of

unobservable

inputs

and

to

establish

classification

of

fair

value

measurements

for

disclosure

purposes.

Observable

inputs

reflect

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Observable

inputs

are

based

on

market

data

obtained

from

sources

independent

of

the

reporting

entity.

Unobservable

inputs

reflect

management's

assumptions

about

the

assumptions

market

participants

would

use

in

pricing

the

asset

or

liability.

Unobservable

inputs

are

based

on

the

best

information

available

in

the

circumstances.

The

following

is

a

summary

of

the

three-tiered

hierarchy

of

valuation

input

levels.

Level 1

–

Inputs

are

unadjusted

and

prices

are

determined

using

quoted

prices

in

active

markets

for

identical

securities.

Level

–

Prices

are

determined

using

other

significant

observable

inputs

(including

quoted

prices

for

similar

securities,

interest

rates,

credit

spreads,

etc.).

Level

–

Prices

are

determined

using

significant

unobservable

inputs

(including

management's

assumptions

in

determining

the

fair

value

of

investments).

A

description

of

the

valuation

techniques

applied

to

the Funds'

major

classifications

of

assets

and

liabilities

measured

at

fair

value

follows:

Debt

securities:

Prices

of

fixed-income

securities

are

provided

by

independent

pricing

services

("pricing

services")

approved

by

the

Adviser,

which

is

subject

to

review

by

the

Adviser and

oversight

of

the Board.

Pricing

services establish

a

security's

fair

value

using

methods

that

may

include consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

In

pricing

certain

securities,

particularly

less

liquid

and

lower

quality

securities,

pricing

services

may

consider

information

about

a

security,

its

issuer

or

market

activity

provided

by

the

Adviser.

These

securities

are

generally

classified

as

Level

2. Exchange-traded

equity

securities,

common

and

preferred

stock:

Equity

securities

and

exchange-traded

funds

listed

or

traded

on

a

national

market

or

exchange

are

valued

based

on

their

last

reported

sales

price

or

official

closing

price

of

such

market

or

exchange

on

the

valuation

date.

Foreign

equity

securities

and

registered

investment

companies

that

trade

on

a

foreign

exchange

are

valued

at

the

last

reported

sales

price

or

official

closing

price

on

the

principal

exchange

where

traded,

and

converted

to

U.S.

dollars

at

the

prevailing

rates

of

exchange

on

the

valuation

date.

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 Funds'

net

assets

are

calculated,

such

securities

will

be

valued

at

fair

value

in

accordance

with

procedures

adopted

by

the

Adviser,

subject

to

the

oversight

of

the

Board.

To

the

extent

these

securities

are

actively

traded

and

no

valuation

adjustments

are

applied,

they

are

generally

classified

as

Level

1. When

valuation

adjustments

are

applied

to

the

most

recent

last

sales

price

or

official

closing

price,

these

securities

are

generally

classified

as

Level

2. Forward

foreign

currency

contracts:

Forward

foreign

currency

contracts

are

valued

using

the

prevailing

forward

exchange

rate

which

is

derived

from

quotes

provided

by

the

pricing

service

using

the

procedures

approved

by

the

Board

and

are

classified

as

Level

2. Repurchase

agreements:

Repurchase

agreements

are

valued

at

contract

amount

plus

accrued

interest,

which

approximates

market

value.

These

securities

are

generally

classified

as

Level

2. For

any

portfolio

security

or

derivative

for

which

market

quotations

are

not

readily

available

or

for

which

the

Adviser

deems

the

valuations

derived

using

the

valuation

procedures

described

above

not

to

reflect

fair

value,

the

Adviser

will

determine

a

fair

value

in

good

faith

using

alternative

procedures

approved

by

the

Adviser,

subject

to

the

oversight

of

the Board.

As

a

general

principle,

the

fair

value

of

a

security

is

the

amount

that

the

owner

might

reasonably

expect

to

receive

for

it

in

a

current

sale.

A

variety

of

factors

may

be

considered

in

determining

the

fair

value

of

such

securities,

which

may

include

consideration

of

the

following:

yields

or

prices

of

investments

of

comparable

quality,

type

of

issue,

coupon,

maturity

and

rating,

market

quotes

or

indications

of

value

from

security

dealers,

evaluations

of

anticipated

cash

flows

or

collateral,

general

market

conditions

and

other

information

and

analysis,

including

the

obligor's

credit

characteristics

considered

relevant.

To

the

extent

the

inputs

are

observable

and

timely,

the

values

would

be

classified

as Level

2;

otherwise

they

would

be

classified

as

Level

3. 53

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

continued

For

the year

ended

October

31,

2022,

the

Emerging

Markets

Debt

Fund

had

material

transfers

from

Level

to

Level

as

a

result

of

various

market

related

factors.

Please

refer

to

the

Level

reconciliation

below.

The

following

table

summarizes

the

market

value

of

the Funds'

investments

as

of

October

31,

2022,

based

on

the

inputs

used

to

value

them:

The

following

table

is

a

reconciliation

of

the

investments

in

which

significant

unobservable

inputs

(Level

3)

were

used

in

the

determining

value:

The

following

table

summarizes

the

significant

unobservable

inputs

used

to

value

Level

investments

as

of

October

31,

2022

:

\*

Single

source

broker

quote.

§

Unobservable

inputs

were

weighted

by

the

relative

fair

value

of

the

instruments.

Fund

Level

Level

Level

Total

Emerging

Markets

Debt

Bank

loan

obligations

$—

$1,785,453

$—

$1,785,453

Corporate

bonds

—

254,354,182

2,112,792

256,466,974

Government

bonds

—

218,454,379

6,165,253

224,619,632

Structured

assets

—

—

2,501,970

2,501,970

Common

stocks

2,474,704

955,698

—

3,430,402

Short-term

investments

16,938,710

9,925,000

—

26,863,710

Total

$19,413,414

$485,474,712

$10,780,015

$515,668,141

International

Bond

Bank

loan

obligations

$—

$1,641,890

$—

$1,641,890

Corporate

bonds

—

79,834,543

603,955

80,438,498

Government

bonds

—

229,542,612

4,563,336

234,105,948

Structured

assets

—

18,374,632

—

18,374,632

Short-term

investments

180,062

20,744,146

—

20,924,208

Forward

foreign

currency

contracts\*

—

4,040,691

—

4,040,691

Total

$180,062

$354,178,514

$5,167,291

$359,525,867

\*

Derivative

instruments

are

not

reflected

in

the

market

value

of

portfolio

investments.

Fund

Investments

Emerging

Markets

Debt

Balance

as

of

October

31,

2021

$16,627,202

Purchases

3,652,222

Sales

(14,603,574)

Gains

(losses)

(287,733)

Change

in

unrealized

appreciation

(depreciation)

(703,844)

Transfers

out

of

Level

-

Transfers

into

Level

6,095,742

Balance

as

of

October

31,

2022

$10,780,015

International

Bond

Balance

as

of

October

31,

2021

$2,482,100

Purchases

2,083,887

Sales

(1,416,316)

Gains

(losses)

(228,154)

Change

in

unrealized

appreciation

(depreciation)

(235,374)

Transfers

out

of

Level

-

Transfers

into

Level

2,481,148

Balance

as

of

October

31,

2022

$5,167,291

Fund

Fair

value

Valuation

technique

Unobservable

input

Range

(weighted

average)

§

Emerging

Markets

Debt

Corporate

bonds

2,112,792

Recent

market

transaction

Discount

67.5%-99.8%

(82.9%)

Government

bonds

397,919

Broker

quote

\*

Government

bonds

5,767,334

Recent

market

transaction

Discount

35.1%-98.8%

(59.4%)

Structured

assets

2,501,970

Broker

quote

\*

Total

$10,780,015

International

Bond

Corporate

bonds

$603,955

Broker

quote

\*

Government

bonds

4,563,336

Recent

market

transaction

Discount

35.1%-94.1%

(49.3%)

Total

$5,167,291

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

continued

Note

4—investments

Repurchase

agreements:

In

connection

with

transactions

in

repurchase

agreements,

it

is

the Fund's policy

that

its

custodian

take

possession

of

the

underlying

collateral

securities,

the

fair

value

of

which

exceeds

the

principal

amount

of

the

repurchase

transaction,

including

accrued

interest,

at

all

times.

If

the

counterparty

defaults,

and

the

fair

value

of

the

collateral

declines,

realization

of

the

collateral

may

be

delayed

or

limited.

Restricted

securities:

Restricted

securities

held

by

the

Funds,

if

any,

may

not

be

sold

except

in

exempt

transactions

or

in

a

public

offering

registered

under

the

Securities

Act

of

1933,

as

amended.

The

risk

of

investing

in

such

securities

is

generally

greater

than

the

risk

of

investing

in

securities

that

are

widely

held

and

publicly

traded.

Securities

lending:

Certain Funds

may

lend

their

securities

to

qualified

institutional

borrowers

to

earn

additional

income.

A

Fund 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;

any

additional

collateral

required

due

to

changes

in

security

values

is

delivered

to

the Fund

the

next

business

day.

Cash

collateral

received

by the

Fund will

generally

be

invested

in

high-quality

short-term

instruments

or

in

one

or

more

funds

maintained

by

the

securities

lending

agent

("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

Statements

of

assets

and

liabilities.

Non-cash

collateral

is

not

disclosed

in

the

Funds'

Statements

of

assets

and

liabilities

as

it

is

held

by

the Agent

or

by

a

third

party

bank

engaged

by

the

Agent

as

a

special

"tri-party" custodian on

behalf

of

the Funds,

and

the

Funds

do

not

have

the

ability

to

sell

or

re-hypothecate

those

securities.

As

of

October

31,

2022,

securities

lending

transactions are

for equity

and

fixed

income

securities,

and

the

resulting

loans

are

continuous,

can

be

recalled

at

any

time,

and

have

no

set

maturity.

Securities

lending

income

recognized

by

the

Funds consists

of

earnings

on

invested

collateral

and

lending

fees,

net

of

any

rebates

to

the

borrower

and

compensation

to

the

Agent.

Such

income

is

reflected

separately

in

the

Statements

of

operations.

In

lending

its

securities,

a

Fund bears

the

market

risk

with

respect

to

the

investment

of

collateral

and

the

risk

that

the

Agent

may

default

on

its

contractual

obligations

to

the

Fund.

The

Agent

bears

the

risk

that

the

borrower

may

default

on

its

obligation

to

return

the

loaned

securities

as

the

Agent

is

contractually

obligated

to

indemnify

the

Fund if

at

the

time

of

a

default

by

a

borrower

some

or

all

of

the

loan

securities

have

not

been

returned.

As

of October

31,

2022,

the

total

value

of

securities

on

loan

and

the

total

value

of

collateral

received

were

as

follows:

Securities

purchased

on

a

when-issued

or

delayed-delivery

basis:

The Funds

may

purchase

securities

on

a

when-issued

or

delayed-

delivery

basis.

Securities

purchased

or

sold

on

a

when-issued

or

delayed-delivery

basis

may

have

extended

settlement

periods;

interest

income

is

not

accrued

until

settlement

date.

Any

securities

so

purchased

are

subject

to

market

fluctuation

during

this

period.

The

Funds have

segregated

securities

in

their

portfolios

with

a

current

value

at

least

equal

to

the

amount

of

the

when-issued/delayed

delivery

purchase

commitments.

Zero

coupon

securities:

A

zero

coupon

security

does

not

pay

a

regular

interest

coupon

to

its

holders

during

the

life

of

the

security.

Income

to

the

holder

of

the

security

comes

from

accretion

of

the

difference

between

the

original

purchase

price

of

the

security

at

issuance

and

the

par

value

of

the

security

at

maturity

and

is

effectively

paid

at

maturity.

The

market

prices

of

zero

coupon

securities

generally

are

more

volatile

than

the

market

prices

of

securities

that

pay

interest

periodically.

Purchases

and

sales:

Purchases

and

sales

of

securities

(other

than

short-term

instruments)

for

all

of

the Funds

for

the year

ended

October

31,

2022

were

as

follows:

Note

5—derivative

investments

Each Fund is

authorized

to

invest

in

certain

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

variables.

Aggregate

value

of

securities

on

loan

Fund

Equity

Securities

Fixed

Income

Securities

Cash

collateral

received\*

Non-cash

collateral

received

Total

collateral

received

Emerging

Markets

Debt

$67,068

$17,790,670

$16,938,710

$1,704,390

$18,643,100

International

Bond

–

228,063

180,062

82,106

262,168

\*May

include

cash

and

investment

of

cash

collateral.

Fund

Non-U.S.

government

purchases

U.S.

government

purchases

Non-U.S.

government

sales

U.S.

government

sales

6.1 Emerging

Markets

Debt

$

272,029,065

$

–

$

195,103,836

$

–

6.2 International

Bond

164,884,851

4,414,694

194,825,082

8,767,372

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

continued

At

October

31,

2022,

the

following Funds

have

invested

in

derivative

contracts

which

are

reflected

in

the

Statements

of

assets

and

liabilities

as

follows:

For

the year

ended

October

31,

2022,

the

effect

of

derivative

contracts

on

the Funds'

Statements

of

operations

was

as

follows:

Forward

foreign

currency

contracts:

Certain Funds

may

use

forward

foreign

currency

contracts

("forward

contracts")

to

hedge portfolio

currency

risk

and

to

facilitate

transactions

in

securities

denominated in

foreign

currencies

in

the

normal

course

of

pursuing

their

investment

objectives.

A

forward

contract

is

an

agreement

between

two

parties

to

purchase

or

sell

a

specified

quantity

of

a

currency

at

or

before

a

specified

date

in

the

future

at

a

specified

price.

Non-deliverable

forward

foreign

currency

exchange

contracts

are

settled

with

the

counterparty

in

cash

without

the

delivery

of

foreign

currency.

Forward

contracts

are

typically

traded

in

the

over-the-counter

("OTC")

markets

and

all

details

of

the

contract

are

negotiated

between

the

counterparties

to

the

agreement.

Forward

contracts

are

marked-to-market

daily

and

any

resulting

unrealized

gains

or

losses

are

reflected

as

appreciation

or

depreciation

on

the

Statements

of

assets

and

liabilities.

The Funds

realize

gains

and

losses

at

the

time

the

forward

contracts

are

closed

and

are

included

on

the

Statement

of

operations.

Risks

may

arise

upon

entering

into

forward

contracts

from

unanticipated

movements

in

the

value

of

a

foreign

currency

relative

to

the

U.S.

dollar;

and

that

losses

may

exceed

amounts

recognized

on

the

Statements

of

assets

and

liabilities.

The

average

notional

amount

of

forward

contracts

outstanding

during

the

current

fiscal

period

ended October

31,

2022

was

as

follows:

Note

6—income

tax

information

Each

Fund

is

a

separate

taxpayer

for

federal

income

tax

purposes.

Each

Fund

intends

to

distribute

substantially

all

of

its

net

investment

income

and

net

capital

gains

to

shareholders

and

otherwise

comply

with

the

requirements

of

Subchapter

M

of

the

Internal

Revenue

Code

applicable

to

regulated

investment

companies.

Therefore,

no

federal

income

tax

provision

is

required.

Each

Fund

files

income

tax

returns

in

U.S.

federal

and

applicable

state

and

local

jurisdictions.

A

Fund's

federal

income

tax

returns

are

generally

subject

to

examination

for

a

period

of

three

fiscal

years

after

being

filed.

State

and

local

tax

returns

may

be

subject

to

examination

for

an

additional

period

of

time

depending

on

the

jurisdiction.

Management

has

analyzed

each

Fund's

tax

positions

taken

for

all

open

tax

years

and

has

concluded

that

no

provision

for

income

tax

is

required

in

the

Fund's

financial

statements.

Differences

between

amounts

for

financial

statement

and

federal

income

tax

purposes

are

primarily

due

to

timing

differences

in

recognizing

gains

and

losses

on

investment

transactions.

Temporary

differences

do

not

require

reclassification.

As

of

year

end,

permanent

differences

that

resulted

in

reclassifications

among

the

components

of

net

assets

relate

primarily

to

distribution

reallocations,

foreign

currency

transactions,

foreign

taxes

paid,

and

tax

treatment

of

earnings

and

profits

from

the

TEFRA

Bond

Subsidiary.

Temporary

and

permanent

differences

have

no

impact

on

a

Fund's

net

assets.

As

of

year

end,

the

aggregate

cost

and

the

net

unrealized

appreciation/(depreciation)

of

all

investments

for

federal

income

tax

purposes

were

as

follows:

Asset

Derivatives

Liability

Derivatives

Derivative

Instrument

Risk

Exposure

Location

Value

Location

Value

International

Bond

Fund

Forward

foreign

currency

contracts

Foreign

currency

exchange

rate

Unrealized

appreciation

on

forward

contracts

$

4,151,264

Unrealized

depreciation

on

forward

contracts

$

(110,573)

Derivative

Instrument

Risk

Exposure

Net

Realized

Gain

(Loss)

Change

in

Unrealized

Appreciation

(Depreciation)

6.1 Emerging

Markets

Debt

Fund

Forward

contracts

Foreign

currency

exchange

rate

$

(132,753)

$

71,594

6.2 International

Bond

Fund

Forward

contracts

Foreign

currency

exchange

rate

54,067,682

2,821,118

Fund

Average

notional

amount

of

forward

contracts

outstanding\*

6.1 Emerging

Markets

Debt

$

404,868

6.2 International

Bond

321,693,940

\*

The

average

notional

amount

is

calculated

based

on

the

outstanding

notional

amount

of

contracts

at

the

beginning

of

the

current

fiscal

period

and

at

the

end

of

each

fiscal

quarter

within

the

current

fiscal

period.

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

continued

For

purposes

of

this

disclosure,

tax

cost

generally

includes

the

cost

of

portfolio

investments

as

well

as

up-front

fees

or

premiums

exchanged

on

derivatives

and

any

amounts

unrealized

for

income

statement

reporting

but

realized

income

and/or

capital

gains

for

tax

reporting,

if

applicable.

As

of

year

end,

the

components

of

accumulated

earnings

on

a

tax

basis

were

as

follows:

The

tax

character

of

distributions

paid was

as

follows:

As

of

year

end,

the

Funds

had

capital

loss

carryforwards,

which

will

not

expire:

Note

7—investment

adviser

and

other

transactions

with

affiliates

Under

the

terms

of

the

Investment

Management

Agreement

with

respect

to

each

Fund, the

Adviser provides

asset

management

services

to

the

Fund

for

an

annual

fee,

payable

monthly.

The

Funds

have

entered

into

an

Administrative

Service

Agreement

with

the

Adviser

under

which

the

Funds

pay the

Adviser for

its

costs

in

providing

certain

administrative

and

compliance

services

to

the

Funds.

Each

Subsidiary

has

entered

into

an

investment

management

agreement

with

the

Adviser.

Under

these

agreements,

the

Adviser

provides

the

same

management

services

to

the

Subsidiaries

as

it

does

to

the

International

Bond

Fund.

Advisors

is

not

compensated

directly

by

the

Subsidiaries

for

their

services,

rather

they

are

provided

a

management

fee

on

the

average

net

assets

of

the

Fund

which

includes

investments

in

the

Subsidiaries.

The

Fund

bears

all

operating

expenses

of

the

Regulation

S

Subsidiary.

The

TEFRA

Bond

Subsidiary

bears

all

of

its

operating

expenses,

which

the

Fund

indirectly

bears

through

its

investments

in

the

TEFRA

Bond

Subsidiary.

Under

the

terms

of

a

Retirement

Class

Service

Agreement

with

respect

to

each

Fund,

the

Retirement

Class

of

the

Fund

incurs

an

annual

fee

of

0.25%

of

the

daily

net

assets,

payable

monthly

to

the

Adviser,

for

certain

administrative

costs

associated

with

the

maintenance

of

Retirement

Class

shares

on

retirement

plan

or

other

platforms.

Substantially

all

of

the

Retirement

Class

shareholder

servicing

fees

reported

on

the

Statements

of

operations

are

paid

to

the

Adviser

under

the

Service

Agreement.

Under

the

terms

of

a

distribution

Rule

12b-1

plan,

the

Retail

Class

of

each

Fund

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Retail

Class

of

the

Fund

at

the

annual

rate

of

0.25%

of

the

average

daily

net

assets

attributable

to

the

Fund's

Retail

Class.

The

Premier

Class

of

each

Fund

is

subject

to

a

distribution

Rule

12b-1

plan

that

compensates

Nuveen

Securities

for

providing

distribution,

promotional

and/or

shareholder

services

to

the

Premier

Class

of

the

Fund

at

the

annual

rate

of

0.15%

of

the

average

daily

net

assets

attributable

to

the

Fund's

Premier

Class.

The

Adviser has

contractually

agreed

to

waive

and/or

reimburse

Class

W's

shares'

Management

fees

and

Other

expenses

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses,

trustee

expenses

and

extraordinary

expenses)

in

their

entirety.

The

Adviser

expects

this

waiver

and/or

reimbursement

to

remain

in

effect

indefinitely,

unless

changed

or

terminated

with

approval

of

the

Board.

The

Management

fees

and

Other

expenses

of

Class

W

shares

that

have

been

waived

by the

Adviser may

be

incurred

directly

or

indirectly,

all

or

in

part,

by

investors

in

Class

W

shares.

The

Adviser

has

agreed

to

reimburse

each

Fund

if

its

total

expense

ratio

(excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

acquired

fund

fees

and

expenses

and

extraordinary

expenses)

exceeds

certain

percentages.

As

of

Fund

Tax

cost

Gross

unrealized

appreciation

Gross

unrealized

(depreciation)

Net

unrealized

appreciation

(depreciation)

6.1 Emerging

Markets

Debt

$675,335,016

$522,601

$(160,235,345)

$(159,712,744)

6.2 International

Bond

462,494,070

163,376

(102,959,178)

(102,795,802)

Fund

Undistributed

ordinary

income

Undistributed

long-term

capital

gains

Unrealized

appreciation

(depreciation)

Capital

loss

carryforwards

Late-year

loss

deferrals

Other

book-to-tax

differences

Total

6.1 Emerging

Markets

Debt

$5,371,779

$–

$(159,712,744)

$(13,519,387)

$–

$(11,497)

$(167,871,849)

6.2 International

Bond

15,399,959

–

(103,142,777)

(13,879,279)

–

(7,085)

(101,629,182)

10/31/2022

10/31/2021

Fund

Ordinary

income

Long-term

capital

gains

Ordinary

income

Long-term

capital

gains

6.1 Emerging

Markets

Debt

$

33,906,728

$

–

$

31,163,636

$

–

6.2 International

Bond

39,488,304

2,993,471

14,610,210

448,574

Fund

Short-term

Long-term

Total

6.1 Emerging

Markets

Debt

$

4,504,487

$

9,014,900

$

13,519,387

6.2 International

Bond

8,575,552

5,303,727

13,879,279

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

continued

October

31,

2022

,

the

investment

management

fee,

service

agreement

fee,

distribution

fee

and

maximum

expense

amounts

(after

waivers

and

reimbursements)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Effective

May

1,

2022,

for

a

one

year

period, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

This

waiver

is

voluntary

in

nature

and

can

be

discontinued

at

any

time

without

prior

notice

to

shareholders

upon

Board

approval.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waivers)

are

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

Prior

to

May

1,

2022, the

Adviser agreed

to

voluntarily

waive

a

portion

of

the

investment

management

fee

and/or

the

expense

cap

for

certain

funds.

The

investment

management

fee

and

maximum

expense

amounts

(after

voluntary

waiver)

were

equal

to

the

following

noted

annual

percentage

of

average

daily

net

assets

for

each

class:

The Funds may

purchase

or

sell

investment

securities

in

transactions

with

affiliated

entities

under

procedures

adopted

by

the

Board,

pursuant

to

the

1940

Act.

These

transactions

are

effected

at

market

rates

without

incurring

broker

commissions.

For

the

year

ended

October

31,

2022,

the

Funds

did

not

engage

in

security

transactions

with

affiliated

entities.

The

following

is

the

percentage

of

the

Funds'

shares

owned

by

affiliates

as

of

October

31,

2022:

Note

8—emerging

markets

risks

The

Emerging

Markets

Debt

Fund

holds

a

large

portion

of

its

assets

in

emerging

market

securities.

Emerging

market

securities

are

often

subject

to

greater

price

volatility,

less

liquidity

and

higher

rates

of

inflation

and

deflation

than

U.S.

securities.

In

addition,

emerging

markets

may

be

subject

to

greater

political,

economic

and

social

uncertainty,

and

differing

regulatory

environments

that

may

potentially

impact

the

Fund's

ability

to

buy

or

sell

certain

securities

or

repatriate

proceeds

to

U.S.

dollars.

Investment

management

fee

range

Investment

management

fee-

effective

rate

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

6.1 Emerging

Markets

Debt\*

.450

%

—

.550

%

.550

%

.650

%

.800

%

.800

%

.900

%

.000

%

.650

%

6.2 International

Bond\*

.400

%

—

.500

%

.500

.600

.750

.750

.850

.950

.600

\*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund's

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

expense

reimbursement

arrangements

will

continue

through

at

least

February

28,

2023

for

the

Emerging

Markets

Debt

Fund

and

July

31,

2023

for

the

International

Bond

Fund.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

6.1 Emerging

Markets

Debt\*

.450

%

—

.550

%

.650

%

.800

%

.800

%

.825

%

.000

%

.650

%

6.2 International

Bond\*

.400

%

—

.500

%

.585

.750

.750

.850

.950

.585

\*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund's

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Investment

management

fee

range

Maximum

expense

amounts‡

Fund

Institutional

Class

Advisor

Class

Premier

Class

Retirement

Class

Retail

Class

Class

W

6.1 Emerging

Markets

Debt\*

.450

%

—

.550

%

.650

%

.800

%

.800

%

.780

%

.000

%

.650

%

6.2 International

Bond\*

.400

%

—

.500

%

.600

.750

.750

.850

.930

.600

\*

This

Fund

is

subject

to

a

breakpoint

schedule

on

its

investment

management

fee,

which

reduces

this

fee

as

the

Fund's

net

assets

increase.

‡

Maximum

expense

amounts

reflect

all

expenses

excluding

interest,

taxes,

brokerage

commissions

or

other

transactional

expenses,

Acquired

fund

fees

and

expenses

and

extraordinary

expenses.

The

reimbursement

arrangements

can

only

be

changed

with

the

approval

of

the

Board.

Underlying

Fund

TIAA-CREF

Lifecycle

Funds

Total

6.1 Emerging

Markets

Debt

%

%

6.2 International

Bond

Notes

to

financial

statements

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

concluded

Note

9—inter-fund

lending

program

Pursuant

to

an

exemptive

order

issued

by

the

SEC,

the

Funds may

participate

in

an

inter-fund

lending

program.

This

program

allows

the

Funds to

lend

cash

to

and/or

borrow

cash

from

certain

other

affiliated

Funds for

temporary

purposes,

(e.g.,

to

satisfy

redemption

requests

or

to

cover

unanticipated

cash

shortfalls).

The

program

is

subject

to

a

number

of

conditions,

including

the

requirement

that

no

Fund may

borrow

or

lend

money

under

the

program

unless

it

receives

a

more

favorable

interest

rate

than

is

available

from

a

bank

or

other

financial

institution

for

a

comparable

transaction.

In

addition,

a

Fund may

participate

in

the

program

only

if

its

participation

is

consistent

with

the

Fund's investment

policies

and

limitations

and

authorized

by

its

portfolio

manager(s).

During the year

ended October

31,

2022,

there

were

no

inter-fund

borrowing

or

lending

transactions.

Note

10—line

of

credit

The Funds

participate

in

a

$1

billion

unsecured

revolving

credit

facility

that

can

be

used

for

temporary

purposes,

including,

without

limitation,

the

funding

of

shareholder

redemptions.

The

current

facility

was

entered

into

on

June

14,

2022

expiring

on

June

13,

2023,

replacing

the

previous facility,

which

expired

June

2022. Certain

affiliated

accounts

and

mutual

funds,

each

of

which

is

managed

by the

Adviser,

or

an

affiliate

of

the

Adviser, 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

borrowing

accounts

or

mutual

funds

at

a

specified

rate

of

interest.

The Funds are

not

liable

for

borrowings

under

the

facility

by

other

affiliated

accounts

or

mutual

funds.

For

the year

ended

October

31,

2022,

there

were

no

borrowings

under

this

credit

facility

by

the

Funds.

Report

of

Independent

Registered

Public

Accounting

Firm

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

To

the

Board

of

Trustees

of

TIAA-CREF

Funds

and

Shareholders

of

TIAA-CREF

Emerging

Markets

Debt

Fund

and

TIAA-CREF

International

Bond

Fund

Opinions

on

the

Financial

Statements

We

have

audited

(i) the

accompanying

statement

of

assets

and

liabilities,

including

the

portfolio

of

investments,

of

TIAA-CREF

Emerging

Markets

Debt

Fund

as

of

October

31,

2022,

the

related

statement

of

operations

for

the

year

ended

October

31,

2022,

the

statement

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022,

including

the

related

notes,

and

the

financial

highlights

for

each

of

the

periods

indicated

therein,

and

(ii) the

accompanying

consolidated

statement

of

assets

and

liabilities,

including

the

consolidated

portfolio

of

investments,

of

TIAA-CREF

International

Bond

Fund

as

of

October

31,

2022,

the

related

consolidated

statement

of

operations

for

the

year

ended

October

31,

2022,

the

consolidated

statement

of

changes

in

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022,

including

the

related

notes,

and

the

consolidated

financial

highlights

for

each

of

the

periods

indicated

therein

(two

of

the

funds

constituting

TIAA-CREF

Funds,

hereafter

collectively

referred

to

as

the

"Funds")

(collectively

referred

to

as

the

"financial

statements").

In

our

opinion,

the

financial

statements

present

fairly,

in

all

material

respects,

the

financial

position

of

each

of

the

Funds

as

of

October

31,

2022,

the

results

of

each

of

their

operations

for

the

year

then

ended,

the

changes

in

each

of

their

net

assets

for

each

of

the

two

years

in

the

period

ended

October

31,

2022

and

each

of

the

financial

highlights

for

each

of

the

periods

indicated

therein

in

conformity

with

accounting

principles

generally

accepted

in

the

United

States

of

America.

Basis

for

Opinions

These

financial

statements

are

the

responsibility

of

the

Funds'

management.

Our

responsibility

is

to

express

an

opinion

on

the

Funds'

financial

statements

based

on

our

audits.

We

are

a

public

accounting

firm

registered

with

the

Public

Company

Accounting

Oversight

Board

(United

States)

(PCAOB)

and

are

required

to

be

independent

with

respect

to

the

Funds

in

accordance

with

the

U.S.

federal

securities

laws

and

the

applicable

rules

and

regulations

of

the

Securities

and

Exchange

Commission

and

the

PCAOB.

We

conducted

our

audits

of

these

financial

statements

in

accordance

with

the

standards

of

the

PCAOB.

Those

standards

require

that

we

plan

and

perform

the

audit

to

obtain

reasonable

assurance

about

whether

the

financial

statements

are

free

of

material

misstatement,

whether

due

to

error

or

fraud.

Our

audits

included

performing

procedures

to

assess

the

risks

of

material

misstatement

of

the

financial

statements,

whether

due

to

error

or

fraud,

and

performing

procedures

that

respond

to

those

risks.

Such

procedures

included

examining,

on

a

test

basis,

evidence

regarding

the

amounts

and

disclosures

in

the

financial

statements.

Our

audits

also

included

evaluating

the

accounting

principles

used

and

significant

estimates

made

by

management,

as

well

as

evaluating

the

overall

presentation

of

the

financial

statements.

Our

procedures

included

confirmation

of

securities

owned

as

of

October

31,

2022

by

correspondence

with

the

custodian

and

brokers;

when

replies

were

not

received

from

brokers,

we

performed

other

auditing

procedures.

We

believe

that

our

audits

provide

a

reasonable

basis

for

our

opinions.

/s/PriceWaterhouseCoopers

LLP

Charlotte,

North

Carolina

December

22,

2022

We

have

served

as

the

auditor

of

one

or

more

investment

companies

in

TIAA-CREF

Funds'

investment

company

group

since

2005. Important

tax

information

(unaudited)

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

As

required

by

the

Internal

Revenue

Code

and

Treasury

Regulations,

certain

tax

information,

as

detailed

below,

must

be

provided

to

shareholders.

Shareholders

are

advised

to

consult

their

tax

advisor

with

respect

to

the

tax

implications

of

their

investment.

The

amounts

listed

below

may

differ

from

the

actual

amounts

reported

on

Form

1099-DIV,

which

will

be

sent

to

shareholders

shortly

after

calendar

year

end.

Long-term

capital

gains

As

of

year

end,

each

Fund

designates

the

following

distribution

amounts,

or

maximum

allowable

amount,

as

being

from

net

long-term

capital

gains

pursuant

to

Section

852(b)(3)

of

the

Internal

Revenue

Code:

Qualified

interest

income

(QII)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

income

distributions

treated

as

qualified

interest

income

and/or

short-term

capital

gain

dividends pursuant

to

Section

871(k)

of

the

Internal

Revenue

Code:

163(j)

Each

Fund

listed

below

had

the

following

percentage,

or

maximum

amount

allowable,

of

ordinary

dividends

treated

as

Section

163(j)

interest

dividends

pursuant

to

Section

163(j)

of

the

Internal

Revenue

Code:

Fund

Net

long-term

capital

gains

6.1 Emerging

Markets

Debt

$

–

6.2 International

Bond

2,993,471

Fund

Prior

Year

End

to

12/31

Percentage

1/1

to

Current

Year

End

Percentage

6.1 Emerging

Markets

Debt

.1

%

.9

%

6.2 International

Bond

.2

.1

Fund

Percentage

6.1 Emerging

Markets

Debt

.0

%

6.2 International

Bond

.0

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

Additional

fund

information

Portfolio

holdings

Securities

and

Exchange

Commission

(SEC)

rules

allow

investment

companies

to

list

the

top

holdings

of

each

fund

in

their

annual

and

semiannual

reports

instead

of

providing

complete

portfolio

listings.

The

TIAA-CREF

Funds

also

file

complete

portfolio

listings

with

the

SEC,

and

they

are

available

to

the

public.

You

can

obtain

a

complete

list

of

the

TIAA-CREF

Funds'

holdings

(Schedules

of

Investments)

as

of

the

most

recently

completed

fiscal

quarter

in

the

following

ways:

By

visiting

our

website

at

TIAA.org

or

nuveen.com;

or

By

calling

us

at

800-842-2252

to

request

a

copy,

which

will

be

provided

free

of

charge.

You

can

also

obtain

a

complete

list

of

the

TIAA-CREF

Funds'

portfolio

holdings

as

of

the

most

recently

completed

fiscal

quarter,

and

for

prior

quarter-ends,

from

our

SEC

Form

N-CSR

and

Form

N-PORT

or

Form

N-Q

filings.

Form

N-CSR

filings

are

as

of

October

or

April

30;

Form

N-PORT

or

Form

N-Q

filings

are

as

of

January

or

July

31. Copies

of

these

forms

are

available:

Through

the

Electronic

Data

Gathering

and

Retrieval

System

(EDGAR)

on

the

SEC's

website

at

sec.gov;

or

From

the

SEC's

Office

of

Investor

Education

and

Advocacy.

Call

202-551-8090

for

more

information.

Proxy

voting

TIAA-CREF

Funds'

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.org

or

on

the

SEC's

website

at

sec.gov.

You

can

also

call

us

at

800-842-2252

to

request

a

free

copy.

A

report

of

how

the

funds

voted

during

the

most

recently

completed

twelve-month

period

ended

June

can

be

found

on

our

website

or

on

Form

N-PX

at

sec.gov.

Contacting

TIAA

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,

730

Third

Avenue,

New

York,

NY

10017-3206;

or

by

phone

at

800-842-2252.

Fund

management

The

TIAA-CREF

Funds

are

managed

by

the

portfolio

management

teams

of

Teachers

Advisors,

LLC. The

members

of

these

teams

are

responsible

for

the

day-to-day

investment

management

of

the

funds.

TIAA-CREF

Funds

October

31,

2022

Trustees

and

officers

(unaudited)

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

Trustees

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Forrest

Berkley

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2006. Partner

(1990–2005)

and

Head

of

Global

Product

Management

(2003–2005),

GMO

(formerly,

Grantham,

Mayo,

Van

Otterloo

&

Co.)

(investment

management),

and

member

of

asset

allocation

portfolio

management

team,

GMO

(2003–2005).

Mr.

Berkley

has

particular

experience

in

investment

management,

global

operations

and

finance,

as

well

as

experience

with

non-profit

organizations

and

foundations.

Investment

Committee

Member,

Maine

Community

Foundation.

Joseph

A. Boateng

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Trustee

Indefinite

term.

Trustee

since

2019. Chief

Investment

Officer,

Casey

Family

Programs

(since

2007).

Director

of

U.S.

Pension

Plans,

Johnson

&

Johnson

(2002–2006).

Mr.

Boateng

has

particular

experience

in

investments,

pensions,

and

public

finance.

Board

Member,

Lumina

Foundation

and

Waterside

School;

Emeritus

Board

Member,

Year-Up

Puget

Sound;

Investment

Advisory

Committee

Chair,

Seattle

City

Employees'

Retirement

System;

Investment

Committee

Member,

The

Seattle

Foundation.

Janice

C. Eberly

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2018. James

R. and

Helen

D. Russell

Professor

of

Finance

at

the

Kellogg

School

of

Management,

Northwestern

University

(2002–2011

and

since

2013),

Senior

Associate

Dean

for

Strategy

and

Academics

(since

2020)

and

Chair

of

the

Finance

Department

(2005–

2007).

Vice

President,

American

Economic

Association

(2020–2021).

Assistant

Secretary

for

Economic

Policy,

United

States

Department

of

the

Treasury

(2011–2013).

Prof.

Eberly

has

particular

experience

in

education,

finance

and

public

economic

policy.

Member

of

the

Board

of

the

Office

of

Finance,

Federal

Home

Loan

Banks;

Director,

Avant,

LLC. Nancy

A. Eckl

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1962

Trustee

Indefinite

term.

Trustee

since

2007. Vice

President

(1990–2006),

American

Beacon

Advisors,

Inc.

and

of

certain

funds

advised

by

American

Beacon

Advisors,

Inc.

Ms.

Eckl

has

particular

experience

in

investment

management,

mutual

funds,

pension

plan

management,

finance,

accounting

and

operations.

Ms.

Eckl

is

licensed

as

a

certified

public

accountant

in

the

State

of

Texas.

Independent

Director,

The

Lazard

Funds,

Inc.,

Lazard

Retirement

Series,

Inc.

and

Lazard

Global

Total

Return

and

Income

Fund,

Inc.

Michael

A. Forrester

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1967

Trustee

Indefinite

term.

Trustee

since

2007. Chief

Executive

Officer

(2014–2021)

and

Chief

Operating

Officer

(2007–2014),

Copper

Rock

Capital

Partners,

LLC. Mr.

Forrester

has

particular

experience

in

investment

management,

institutional

marketing

and

product

development,

operations

management,

alternative

investments

and

experience

with

non-profit

organizations.

Trustee,

Dexter

Southfield

School;

Member,

Governing

Council

of

the

Independent

Directors

Council.

Howell

E. Jackson

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1954

Trustee

Indefinite

term.

Trustee

since

2005. James

S. Reid,

Jr.

Professor

of

Law

(since

2004),

Senior

Adviser

to

President

and

Provost

(2010–2012),

Acting

Dean

(2009),

Vice

Dean

for

Budget

(2003–2006)

and

on

the

faculty

(since

1989)

of

Harvard

Law

School.

Prof.

Jackson

has

particular

experience

in

law,

including

financial

regulation,

federal

securities

laws,

consumer

protection,

finance,

federal

budget

policy,

pensions

and

Social

Security,

and

organizational

management

and

education.

Director,

Build

Commonwealth

(non-profit

organization).

TIAA-CREF

International

Fixed-Income

Funds

2022

Annual

Report

continued

Officers

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

and

other

relevant

experience

and

qualifications

Number

of

portfolios

in

fund

complex

overseen

by

Trustee

Other

directorship(s)

and

positions

held

by

Trustee

Thomas

J. Kenny

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Chairman

of

the

Board

and

Trustee

Indefinite

term.

Trustee

since

2011;

Chairman

for

term

ending

June

30,

2023. Chairman

since

September

13,

2017. Advisory

Director

(2010–2011),

Partner

(2004–2010),

Managing

Director

(1999–2004)

and

Co-Head

of

Global

Cash

and

Fixed

Income

Portfolio

Management

Team

(2002–2010),

Goldman

Sachs

Asset

Management.

Mr.

Kenny

has

particular

experience

in

investment

management

of

mutual

funds

and

alternative

investments,

finance,

and

operations

management,

as

well

as

experience

on

non-profit

boards.

He

is

designated

as

an

audit

committee

financial

expert.

Director

and

Chair

of

the

Finance

and

Investment

Committee,

Aflac

Incorporated;

Director,

ParentSquare;

Member,

University

of

California

at

Santa

Barbara

Arts

and

Lectures

Advisory

Council.

James

M. Poterba

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1958

Trustee

Indefinite

term.

Trustee

since

2006. President

and

Chief

Executive

Officer

(since

2008)

and

Program

Director

(1990–2008),

National

Bureau

of

Economic

Research.

Mitsui

Professor

of

Economics,

Massachusetts

Institute

of

Technology

("MIT")

(since

1996);

Affiliated

Faculty

Member

of

the

Finance

Group,

Alfred

P. Sloan

School

of

Management

(since

2014);

Head

(2006–2008)

and

Associate

Head

(1994–2000

and

2001–2006),

Economics

Department

of

MIT.

Prof.

Poterba

has

particular

experience

in

education,

economics,

finance,

tax,

and

organizational

development.

Director,

National

Bureau

of

Economic

Research;

Member,

Congressional

Budget

Office

Panel

of

Economic

Advisers.

Loren

M. Starr

c/o

Corporate

Secretary

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1961

Trustee

Indefinite

term.

Trustee

since

2022. Independent

Consultant/Advisor

(2021–Present).

Vice

Chair,

Senior

Managing

Director

(2020–2021),

Chief

Financial

Officer,

Senior

Managing

Director

(2005–

2020),

Invesco

Ltd.

Mr.

Starr

has

particular

experience

in

finance,

investment

management

of

mutual

funds,

exchange-traded

funds

and

other

alternative

investments,

corporate

strategy

and

development

and

regulatory

change

management.

None

currently.

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

Richard

S. Biegen

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1962

Chief

Compliance

Officer

One-year

term.

Chief

Compliance

Officer

since

2008. Senior

Managing

Director,

TIAA.

Chief

Compliance

Officer

of

the

College

Retirement

Equities

Fund

("CREF"),

TIAA

Separate

Account

VA-1,

TIAA-CREF

Funds

and

TIAA-CREF

Life

Funds

(collectively,

the

"TIAA-CREF

Fund

Complex").

Derek

B. Dorn

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB: 1976

Senior

Managing

Director

and

Corporate

Secretary

One-year

term.

Senior

Managing

Director

and

Corporate

Secretary

since

2020. Senior

Managing

Director

and

Corporate

Secretary

of

Teachers

Insurance

and

Annuity

Association

of

America

("TIAA")

and

the

TIAA-CREF

Fund

Complex.

Formerly,

Managing

Director,

Special

Assistant

to

the

CEO

and

Managing

Director,

Regulatory

Affairs,

TIAA.

John

L. Douglas

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1950

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

One-year

term.

Executive

Vice

President

since

2021

and

Chief

Legal,

Risk

and

Compliance

Officer

since

2022. Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA.

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Senior

Advisor

to

the

CEO,

and

Senior

Executive

Vice

President,

Chief

Advocacy

&

Oversight

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Douglas

was

a

Partner

at

Davis

Polk

&

Wardwell

LLP.

Trustees—concluded

Trustees

and

officers

(unaudited)

TIAA-CREF

Funds

October

31,

2022

2022

Annual

Report

TIAA-CREF

International

Fixed-Income

Funds

concluded

Please

note

that

the

Funds'

Statement

of

Additional

Information

(SAI)

includes

additional

information

about

the

Funds'

trustees

and

is

available,

without

charge,

through

our

website,

tiaa.org,

or

by

calling

800

223-1200.

Name,

address

and

year

of

birth

("YOB")

Position(s)

held

with

fund

Term

of

office

and

length

of

time

served

Principal

occupation(s)

during

past

years

W. Dave

Dowrich

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1967

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022. Senior

Executive

Vice

President

and

Chief

Financial

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Prior

to

joining

TIAA,

Mr.

Dowrich

served

as

Chief

Financial

Officer,

International

Businesses

at

Prudential

Financial,

Inc.

Bradley

Finkle

TIAA

730

Third

Avenue

New

York,

NY 10017-3206

YOB:

1973

Principal

Executive

Officer

and

President

One-year

term.

Principal

Executive

Officer

and

President

since

2017. Executive

Vice

President,

Head

of

Complementary

Businesses

and

Chief

Administrative

Officer,

Office

of

the

Chief

Operating

Officer.

Formerly,

Executive

Vice

President,

Chief

Operating

Officer,

Nuveen;

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

Jose

Minaya

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1971

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018. Chief

Executive

Officer,

Nuveen.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Executive

Vice

President,

President

and

Chief

Investment

Officer,

Nuveen.

Colbert

Narcisse

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1965

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2022. Senior

Executive

Vice

President,

Chief

Product

and

Business

Development

Officer

of

TIAA.

President

and

Chief

Executive

Officer

of

CREF

and

TIAA

Separate

Account

Executive

Vice

President

of

TIAA-CREF

Funds

and

TIAA-

CREF

Life

Funds.

Formerly,

Executive

Vice

President

and

Head

of

Advisory

and

Corporate

Solutions,

TIAA.

Prior

to

joining

TIAA,

Mr.

Narcisse

served

as

Managing

Director

and

Head

of

International

Wealth

Management

and

Head

of

Traditional

and

Alternative

Investment

Products

at

Morgan

Stanley.

David

G. Nason

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1970

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2020. Senior

Executive

Vice

President,

Chief

Operating

Officer

of

TIAA.

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex.

Formerly,

Senior

Executive

Vice

President,

Chief

Legal,

Risk

and

Compliance

Officer

of

TIAA,

Executive

Vice

President,

Chief

Risk

and

Compliance

Officer,

TIAA.

Prior

to

joining

TIAA,

Mr.

Nason

served

as

President

and

CEO

of

GE

Energy

Financial

Services.

E. Scott

Wickerham

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1973

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

One-year

term.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

since

2017. Senior

Managing

Director,

Head,

Public

Investment

Finance,

Nuveen.

Principal

Financial

Officer,

Principal

Accounting

Officer

and

Treasurer

of

the

TIAA-CREF

Fund

Complex;

and

Vice

President

and

Controller

of

the

Nuveen

Funds.

Formerly,

Managing

Director,

Head,

TC

Fund

Administration,

Nuveen.

Sean

N. Woodroffe

TIAA

730

Third

Avenue

New

York,

NY

10017-3206

YOB:

1963

Executive

Vice

President

One-year

term.

Executive

Vice

President

since

2018. Senior

Executive

Vice

President,

Chief

People

Officer

of

TIAA

and

Executive

Vice

President

of

the

TIAA-CREF

Fund

Complex. Prior

to

joining

TIAA,

Mr.

Woodroffe

served

as

Chief

People

Officer

at

National

Life

Group.

Officers—concluded

How

to

reach

us©2022

Teachers

Insurance

and

Annuity

Association

of

America—College

Retirement

Equities

Fund,

730

Third

Avenue,

New

York,

NY

10017-3206

Websites

TIAA.org

nuveen.com

Automated

telephone

service

800-842-2252

hours

a

day,

days

a

week

For

the

hearing-

or

speech-impaired

800-842-2755

a.m.

to

p.m.

(ET),

Monday–Friday

You

should

carefully

consider

the

investment

objectives,

risks,

charges

and

expenses

of

any

fund

before

investing.

For

a

prospectus

that

contains

this

and

other

information,

please

visit

TIAA.org,

or

call

800-842-2252

for

the

Institutional,

Advisor,

Premier,

and

Retirement

classes

or

800-223-1200

for

the

Retail

Class.

Please

read

the

prospectus

carefully

before

investing.

Investment,

insurance

and

annuity

products

are

not

Federal

Deposit

Insurance

Corporation

(FDIC)

insured,

are

not

bank

guaranteed,

are

not

bank

deposits,

are

not

insured

by

any

federal

government

agency,

are

not

a

condition

to

any

banking

service

or

activity,

and

may

lose

value.

Nuveen,

a

subsidiary

of

TIAA,

provides

investment

advice

and

portfolio

management

services

through

a

dozen

affiliated

registered

investment

advisers.

Nuveen

Securities,

LLC

and

TIAA-CREF

Individual

&

Institutional

Services,

LLC,

members

FINRA,

distribute

securities

products.

This

material

is

for

informational

or

educational

purposes

only

and

does

not

constitute

fiduciary

investment

advice

under

ERISA,

a

securities

recommendation

under

all

securities

laws,

or

an

insurance

product

recommendation

under

state

insurance

laws

or

regulations.

This

material

does

not

take

into

account

any

specific

objectives

or

circumstances

of

any

particular

investor,

or

suggest

any

specific

course

of

action.

Investment

decisions

should

be

made

based

on

an

investor's

own

objectives

and

circumstances.

2554527

We're

fond

of

paper...in

its

original

form.

Switch

to

eDelivery

at

TIAA.org/eDelivery

A15653

(12/22)

2554527

A15653

(12/22)

2554527

A15653

(12/22)

------

**Item 2. Code of Conduct.** 

**2(a)** The Board of Trustees of the TIAA-CREF Funds (the "Registrant") has adopted a code of conduct for senior financial officers, including the Registrant's principal executive officer, principal financial officer, principal accounting officer, or controller, and persons performing similar functions, in conformity with rules promulgated under the Sarbanes-Oxley Act of 2002.

**2(b)** No response required.

**2(c)** During the reporting period, there were no amendments to the code of conduct.

**2(d)** During the reporting period, there were no implicit or explicit waivers granted by the Registrant from any provision of the code of conduct.

**2(e)** Not applicable.

**2(f)** A copy of the current code of conduct is filed as an exhibit to this Form N-CSR.

------

**Item 3. Audit Committee Financial Expert.** 

**3(a)(1)** The Registrant's Board of Trustees has determined that the Registrant has at least one audit committee financial expert serving on its Audit and Compliance Committee.

**3(a)(2)** Thomas J. Kenny is the Registrant's audit committee financial expert and is "independent" for purposes of Item 3 of Form N-CSR.

------

**Item 4. Principal Accountant Fees and Services.** 

PricewaterhouseCoopers LLP ("PwC") performs independent audits of the Registrant's financial statements. To maintain auditor independence and avoid even the appearance of conflicts of interest, the Registrant, as a policy, does not engage PwC for management advisory or consulting services.

The aggregate fees billed by PwC as disclosed below for the fiscal year ended October 31, 2021 may not align with the figures reported and filed with the Securities and Exchange Commission in the Form N-CSR for the fiscal year ended October 31, 2021 because the fees disclosed in this Form N-CSR reflect fees updated after the date of the October 31, 2021 Form N-CSR.

---

| | |
|:---|:---|
| **4(a)** | <u>Audit Fees</u>.  |

---

For the fiscal years ended October 31, 2022 and October 31, 2021, PwC's aggregate fees for the audit of the Registrant's annual financial statements were $1,050,541 and $1,047,635, respectively.

---

| | |
|:---|:---|
| **4(b)** | <u>Audit Related Fees</u>.  |

---

For the fiscal years ended October 31, 2022 and October 31, 2021, PwC's aggregate fees for services related to the performance of the audit of the Registrant's annual financial statements were $0 and $0, respectively.

For the fiscal years ended October 31, 2022 and October 31, 2021, the Audit-Related Fees billed by PwC to Teachers Advisors, LLC ("Advisors") or to any entity controlling, controlled by or under common control with Advisors that provides ongoing services to the Registrant (collectively, "Fund Service Providers") were $13,500 and $0, respectively.

---

| | |
|:---|:---|
| **4(c)** | <u>Tax Fees</u>.  |

---

For the fiscal years ended October 31, 2022 and October 31, 2021, PwC's aggregate fees for tax services billed to the Registrant were $150,565 and $181,177, respectively.

For the fiscal years ended October 31, 2022 and October 31, 2021, the Tax Fees billed by PwC to the Fund Service Providers were $0 and $0, respectively.

---

| | |
|:---|:---|
| **4(d)** | <u>All Other Fees</u>.  |

---

For the fiscal years ended October 31, 2022 and October 31, 2021, PwC's aggregate fees for all other services billed to the Registrant were $0 and $0, respectively.

For the fiscal years ended October 31, 2022 and October 31, 2021, PwC's aggregate fees for all other services billed to the Fund Service Providers were $0 and $0, respectively.

------

**4(e)(1)** <u>Preapproval Policy</u>.

The Registrant's audit and compliance committee ("Audit Committee") has adopted a Preapproval Policy for External Audit Firm Services (the "Policy"). The Policy describes the types of services that may be provided by the independent auditor to the Registrant and certain of its affiliates without impairing the auditor's independence. Under the Policy, the Audit Committee is required to preapprove all services to be performed by the Registrant's independent auditor in order to ensure that such services do not impair the auditor's independence.

The Policy requires the Audit Committee to: (i) appoint the independent auditor to perform the financial statements audit for the Registrant and certain of its affiliates, including approving the terms of the engagement, and (ii) preapprove the audit, audit-related, tax and other services to be provided by the independent auditor to the Registrant and certain of its affiliates and the fees to be charged for provision of such services from year to year.

**4(e)(2)** Services provided pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X (the "de minimis exception"):

<u>Audit-Related Fees:</u>

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2022 and October 31, 2021 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2022 and October 31, 2021 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

<u>Tax Fees:</u>

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2022 and October 31, 2021 on behalf of the Registrant.

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2022 and October 31, 2021 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

<u>All Other Fees:</u>

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2022 and October 31, 2021 on behalf of the Registrant.

------

There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception for the fiscal years ended October 31, 2022 and October 31, 2021 on behalf of the Fund Service Providers that relate directly to the operations and financial reporting of the Registrant.

**4(f)** The percentage of hours expended by PwC's engagement to audit the Registrant's financial statements for the most recent fiscal year attributable to work performed by persons other than PwC's full-time, permanent employees was less than 50%.

**4(g)** <u>Non-Audit Fees for Related Entities</u>.

For the fiscal years ended October 31, 2022 and October 31, 2021, aggregate non-audit fees billed to the Registrant and to its Fund Service Providers by PwC were $1,012,526 and $1,117,211 respectively.

**4(h)** The Registrant's Audit Committee has considered whether the non-audit services that were rendered by PwC to the Registrant's Fund Service Providers that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S- X are compatible with maintaining PwC's independence.

------

**Item 5. Audit Committee of Listed Registrants.** 

Not Applicable.

------

**Item 6. Schedule of Investments.** 

Not Applicable. The complete schedule of investments is included in Item 1 of this Form N-CSR.

------

**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 shareholders may recommend nominees to the Registrant's Board of Trustees.

------

**Item 11. Controls and Procedures.** 

**11(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 annual reporting period.

**11(b)** There were no changes in the Registrant's internal control over financial reporting that occurred during the Registrant's annual 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. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** 

Not Applicable.

------

**Item 13. Exhibits.** 

[13(a)(1) Copy of current SOX code of conduct for Senior Financial Officers](d441435dex9913a1.htm)

[13(a)(2)(i) Section 302 certification of the principal executive officer](d441435dex9913a2i.htm)

[13(a)(2)(ii) Section 302 certification of the principal financial officer](d441435dex9913a2ii.htm)

[13(b) Section 906 certification of principal executive officer and principal financial officer](d441435dex9913b.htm)

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**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.

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|:---|:---|
|  Dated: February 1, 2023 | TIAA-CREF FUNDS<br>By: <u>/s/Bradley Finkle</u> <br> Bradley Finkle<br> Principal Executive Officer and President |

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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.

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|:---|:---|
|  Dated: February 1, 2023 | By: <u>/s/Bradley Finkle</u> <br> Bradley Finkle<br> Principal Executive Officer and President<br> (principal executive officer) |
|  Dated: February 1, 2023 | By: <u>/s/E. Scott Wickerham</u> <br> E. Scott Wickerham<br> Principal Financial Officer, Principal<br> Accounting Officer and Treasurer<br> (principal financial officer) |

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## Exhibit 99.13

![LOGO](g441435g01g22.jpg)

Code of Business Conduct

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![LOGO](g441435g01g01.jpg)

Acting with integrity in all that we do Like many of you, I was attracted to TIAA because of its proud legacy of making a difference for those who do so much to serve others, and helping millions of people achieve secure retirements and financial well-being for more than a century. Most importantly though, it is our commitment to our values that sets TIAA apart from the rest and drew me to this very special company. We have become a trusted and respected name in the financial services industry not only because of the results we deliver for clients but also because we are committed to operating each and every day with the highest possible ethical standards. Once again, we renew our commitment to acting with integrity by reacquainting ourselves with our Code of Business Conduct and attesting to follow it in all that we do. The Code embodies our high ethical standards and values, and it provides a critical and strong foundation for our mission, brand and commitment to our clients. I encourage you to take the time to read the Code in its entirety and reflect on how you will live it every day in your role. Our cherished reputation with clients has been earned over the past hundred-plus years through the hard work, dedication and integrity of the associates who came before us, and it is up to us to continue upholding this reputation for the future. The very special institutions and individuals we serve are counting on it, and I thank you for the important role you play. With gratitude, Thasunda Brown Duckett President and Chief Executive Officer Code of Business Conduct 1

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The TIAA Code of Business Conduct contains the following sections and topics: Our culture 2 Our values 3 Why does TIAA have a Code of Business Conduct? 4 The Code of Business Conduct with Guidelines 5 Checklist for ethical business conduct 13 Guidelines for managers 14 Reporting possible misconduct 15 Appendix 20 Our culture TIAA's culture, values and brand have been critical factors in our success, and have served as the foundation for why we occupy a unique place in the world of financial services. Our expertise and our unwavering commitment to integrity and service have all contributed to the organization we are today. Simply stated, our culture comes down to each one of us and the values we bring to our work every day. As we live our values, they work to set us apart from others, reinforcing our stellar reputation and bringing new opportunities for our clients and the TIAA family of companies.

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Our values For Teachers Insurance and Annuity Association of America ("TIAA") and its family of companies, we exist to serve our clients and to provide outcomes that truly matter to them. It is our mission to serve, our ability to perform and the values we embrace that make us different. Here are the values that guide us: Put the client first We inspire confidence. Take personal accountability We each own it. Act with integrity We do the right thing. Operate as one team We win together. Deliver excellence We never stop improving. Value our people We take care of each other. Code of Business Conduct 3

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Why does TIAA have a Code of Business Conduct? The Code of Business Conduct (the "Code") embodies the values and mission for all employees of TIAA and its family of companies, and makes plain our requirements of conduct for transacting business. The Code serves as an ethical framework for all of our business-related decisions, actions and interactions with our clients, business partners and each other. Our adherence to this framework remains essential for maintaining our trusted brand name, reputation for excellence and continued success worldwide. Solid corporate values have come to be expected in today's business world, but what sets us apart is the degree to which we incorporate our Code into our daily business conversations, behaviors and decisions. We all must follow the Code of Business Conduct Each employee of TIAA along with its group of subsidiaries (collectively the "Company" or the "TIAA family of companies") is required to comply with the TIAA Code of Business Conduct. Compliance with this Code is also expected of vendors, contingent workers and third parties serving this organization. Each employee must attest to having read and understood the Code, and agree to follow it. Any employee who does not comply with the Code or fails to cooperate fully in the investigation of an alleged violation is subject to disciplinary action up to and including termination of employment. TIAA takes allegations of observed or suspected violations of the TIAA Code of Business Conduct seriously and conducts prompt investigations. We are all expected to cooperate fully with any such investigations by providing accurate and thorough responses. The TIAA Code of Business Conduct specifies that we will: Be honest and fair Use good judgment Be accountable Be respectful and promote inclusion Comply with laws and regulations Protect client and Company information Ask questions and speak up Human Rights Statement TIAA's values and policies protect and promote human rights. We support the human rights of our employees, clients and suppliers. We have a commitment to fair, ethical and responsible business practices and workplace processes. Code of Business Conduct 4

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The Code of Business Conduct with Guidelines

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1. Be honest and fair We are committed to conducting our business affairs honestly, fairly and with transparency, and believe all three are essential for winning and maintaining our clients' trust. We must maintain high standards of ethical business conduct and display personal integrity at all times. Doing so is paramount to protecting our Company's reputation and meeting our commitments to the people with whom we work, and the clients and institutions we serve. Honesty fairness and straightforwardness of conduct; adherence to the facts Fair just, honorable Guidelines for being honest and fair Deal fairly with everyone, including clients, suppliers, competitors and employees while also remembering your professional responsibility comes before your personal interests. Do not take unfair advantage of another person or party through improper business practices, including: manipulation, fraud, coercion, intimidation, concealment, misuse of confidential information, misrepresentations or criminal wrongdoing. Be clear and forthright concerning your motivations, priorities and decisions. Deliver excellence through outstanding work and service to our clients. Listen to our clients and help them make sound financial decisions. Obtain appropriate approval before engaging in activities that could pose a potential conflict of interest, such as public office, board appointments, political contributions, secondary employment and other outside business activities, business investments and gifts. Your position at the organization cannot be used for inappropriate personal gain for you or a member of your family. Code of Business Conduct 6

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2. Use good judgment Exercising good judgment involves thinking things through and considering the short- and long-term consequences of a decision or action. This may involve sharing information, working through ideas with others and sometimes holding off on an action to avoid a harmful outcome. We should be thoughtful in our approach and conduct ourselves in a way that aligns with TIAA's mission and values. Let's never forget that our Company's reputation is one of its most valuable assets. Using good judgment is an important way to safeguard it. Each of us plays a vital role in protecting the TIAA name and associated brands, and has a stake in the success of our efforts. Judgment the process of forming an opinion or evaluation by discerning and comparing Guidelines for using good judgment Obtain input and signoff, as appropriate, from key internal partners before finalizing a decision. Take action to ensure all relevant considerations are taken into account and appropriately weighed, consistent with the Company's mission and values. Act as a brand ambassador whenever you represent the Company externally, whether for work, business travel or other reasons. Exercise care in the use of email, the Internet and social media on behalf of the Company or when using Company resources. Choose words carefully when responding to inquiries or representing our Company with clients or industry groups. Direct all media-related inquiries for the Company to your Communications representative. Uphold our Company's values and rules in regard to gifts, entertainment, sourcing and solicitation. Comply with our organization's policies regarding conflicts of interest. If you are unsure, consult your Compliance Officer or Human Resources representative. Understand, identify and mitigate risks that may arise from your responsibilities, which include knowing what options are available and the impact of your choices. Code of Business Conduct 7

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3. Be accountable We are personally accountable and answerable for what we do, say and write. We not only take ownership of our own job responsibilities, but support our managers, teams and colleagues as they carry out their duties and obligations. We accept the fact that we're only human and may make mistakes. When mistakes happen, we own our role and do what we can to correct them. Accountable to explain actions and decisions to someone; to be responsible for something Guidelines for being accountable Respect and follow internal policies and procedures. Take personal responsibility for your words and actions, no matter the outcome. Admit to mistakes and take action to correct them. Keep your promises and commitments. Help each other succeed in assisting our clients. Work with others to accomplish goals and objectives. Prepare and submit timely and accurate financial reports.

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4. Be respectful and promote inclusion Mutual respect and professional conduct are, and have always been, central to our corporate culture. We are aware of and value the diversity of our employees, and take steps to ensure that every company in the TIAA family of companies provides an inclusive workplace for all employees. We understand that our differences make us stronger by vetting our ideas and plans against the experiences and opinions of others, and we value those experiences and opinions for their ability to lead us to better outcomes. We cannot allow our differences to become a source of disrespect, exclusion or discrimination. Rather, they must always be a source of strength that is leveraged for the continued success of the Company. Respect regard, esteem, deference, admiration Inclusion action of including or bringing a person into a group or conversation for purposes of active participation Guidelines for respect and inclusion Respect differences of opinion, perspectives or approaches to a particular situation. Treat everyone fairly, without regard to age, race, gender, ethnicity, sexual orientation, gender identity, disability, religion or any other category protected by applicable law. Discrimination, harassment and retaliation are strictly prohibited, as is engaging in intimidating, demeaning or offensive behavior. Value and use diversity and its many dimensions to enrich our business results and practices. Code of Business Conduct 9

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5. Comply with laws and regulations Our business activities are subject to many laws and regulations, including comprehensive regulations governing our insurance, retirement, asset management and banking activities. In addition, nondiscrimination and other employment laws govern the workplace. We are committed to conducting our business in a compliant manner. All employees are responsible for understanding and following the specific legal and regulatory requirements that apply to our activities as well as applicable policies and procedures. Comply to conform, submit or adapt as required or requested Guidelines for complying with laws and regulations Know and comply with federal, state, and local laws and regulations applicable to your job responsibilities. Know and comply with corporate, business unit and support area policies and procedures applicable to your job responsibilities. Complete required training and attestations on time. Maintain required licenses and registrations, including continuing education. Ask for guidance and/or clarification about applicable laws, regulations, policies and procedures when you have a question or are uncertain about their requirements. Report any concerns about matters that may put the Company or our clients at risk, or conduct that may violate this Code. You are encouraged to raise good faith concerns without fear of retaliation, which is not tolerated by the Company. Code of Business Conduct 10

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6. Protect client and Company information All of us who work in the TIAA family of companies are required to protect client and Company information. That means we should review or share client information only to the extent permitted, required and necessary to conduct the business of our Company. Proprietary business information—including client data, investment data, product information and business strategy—should be shared only with appropriate parties on a need-to-know basis. Protect to cover or shield from exposure, injury, damage or destruction; guard Guidelines for protecting client and Company information Follow information security and privacy standards and procedures for handling client and business information. Do not alter, misrepresent or manipulate Company records or financial reports. Accurate and thorough records must be maintained in accordance with record retention requirements, including the destruction of Company records, as established by law, regulation or Company policy. Report any suspicious activity or behavior that could compromise Company or client information. Immediately report any possible breach of information security or compromise of proprietary data. Code of Business Conduct 11

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7. Ask questions and speak up Our corporate culture empowers employees to speak up by asking questions, voicing concerns and sharing opinions in good faith. We work in a complicated business with many legal, regulatory and business requirements, and we face numerous demands on our time. When we are unsure about how to proceed or just want clarification on a matter, we should feel free to ask questions. When you have concerns, speak up. You should raise them by speaking to your manager or another manager, or by making a report through the Ethics Helpline. See the Reporting Possible Misconduct section for more information on how to report and to determine the most appropriate reporting solution for your concern. Speak up means to ask questions, voice concerns and share opinions in good faith with intent to add value or mitigate a possible risk Guidelines for asking questions and speaking up If there is something you do not understand, ask someone who is in a position to help you. If you have concerns about work-related issues, tell someone who can best do something about it. Do not demean colleagues who express a different opinion, perspective or point of view. Do not retaliate against an employee who speaks up. Code of Business Conduct 12

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Checklist for ethical business conduct Use the following questions to help you follow our Code when representing or making decisions on behalf of the Company. They provide guidance and direction for compliance that may be helpful to you on a daily basis. Please remember… Neither the Code nor these guidelines can anticipate every possible situation. If you need guidance or assistance on a matter related to ethical conduct, speak to your manager or to an employee in a supporting or advisory role, such as Human Resources, Compliance or Internal Investigations. Is the proposed activity legal? Are you acting ethically, fairly and in good faith? Is this activity consistent with TIAA's values? Are you acting in the best interest of the client? Could this activity be considered fraudulent or misleading? Could this activity damage TIAA's reputation or brand image? Could TIAA lose clients if this information were made publicly available? Would you be embarrassed if the detail of this activity were known by your colleagues, team members or family and friends, or if it appeared in a newspaper or on the Internet? Could this activity in any way be interpreted as, or appear to be, inappropriate or unethical behavior? Code of Business Conduct 13

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Guidelines for managers Take your management and supervision responsibilities seriously. Inform your team about options for reporting possible misconduct. Seek assistance from your Human Resources Business Partner. Encourage employees to ask questions and foster an environment that welcomes them. Address right away any suspicions of ethical concerns or misconduct brought to you in good faith and escalate serious concerns for further investigation. Point out and explain pertinent laws, regulations, policies and compliance manuals related to your work. Do not engage in retaliation against an employee who speaks up. Provide guidance to direct reports and others who are questioning a decision or course of action. Follow up on all reports brought to your attention. Never ignore a report of conduct that is in conflict with our policy of diversity and inclusion. Lead by example. Be a role model for personal integrity and ethical business conduct. Answer questions promptly. The sooner you respond, the sooner the problem will be addressed. Code of Business Conduct 14

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Reporting possible misconduct

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If you suspect or witness possible misconduct If you suspect or witness what you believe in good faith to be a violation of this Code, law, regulation or Company policy, speak up immediately. It is much easier for the Company to fix a problem than a damaged reputation. There are a number of different options and ways to relay your concerns. Speak up without fear of retaliation TIAA encourages employees to voice concerns freely. Fear of retaliation should never be a deterrent to speaking up. We take seriously all claims of retaliation against those who speak up and will investigate all such claims. The Company does not tolerate retaliation against an employee who speaks up, as part of or outside of an investigation. Individuals who retaliate will be subject to disciplinary action up to and including termination of employment. It is important that you call the correct Ethics Helpline number for your company/location. A list of Ethics Helpline phone numbers can be found in the directory at the end of the Code. Speak Up Resources:1 Lots of ways to be heard Any manager Employee Relations: 844-4-TIAAHR (option 7) or HRServices@tiaa.org Any HR Business Partner or similar contact Any HR Consulting Group Member: Ask HR or HRServices@tiaa.org Internal Investigations: 844-412-5656 or internalinvestigations@tiaa.org Global Security Team: 866-800-0012 or sechotline@tiaa.org or corporatesecurity@tiaa.org General Counsel for your organization Compliance Officer for your organization Ethics Helpline: 877-774-6492 (anonymous reporting where permitted by law) or use the web reporting form: www.tiaaethics.org Code of Business Conduct 16

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Guidelines for reporting misconduct Always report in good faith. Cooperate with any subsequent investigation or other follow-up related to your report. Speak up about any activity that could be harmful to a fellow employee, the brand or the reputation of the Company. Report to prevent or stop unfair or inappropriate behavior such as harassment or abuse. Be specific about the activity you observed or experienced. Be clear about the problem or risk presented by the activity when reporting a concern. Maintain your integrity. Use discretion. If helpful, seek guidance from a trusted partner, such as your HR Business Partner or the HR Consulting Group, Compliance Officer, Internal Investigations or your manager. If you are subject to the Advisers Act, report possible noncompliance to your Compliance Officer. Code of Business Conduct 17

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Helpline directory The TIAA Ethics Helpline has dedicated telephone numbers in the countries as indicated below: India 000-800-0501-964 United Kingdom 0800-069-8160 United States 1-877-774-6492 For all other countries in the chart below, Call Center representatives of Convercent and My Safe Workplace will greet you. Please be prepared to provide your employer name so that your report is routed appropriately. Ethics Helpline international numbers Argentina 0800-333-0095 Australia 1-800-763-983 Austria 0800-281119 Brazil\* 0-800-892-2299 Canada 1-800-235-6302 Chile 800-914-012 China 400-120-3062 Colombia\* 01-800-5189703 (Bogota – local) 13816523 Denmark 8082-0058 Finland 0800-07-635 France 0805-080339 Germany 0800-181-2396 Hong Kong 800-906-069 Iceland 800-4256 Ireland 1-800-904-177 Italy 800-727-406 \*Anonymous reporting not permitted. Code of Business Conduct 18

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Helpline directory (cont'd) Japan 0800-170-5621 Korea, Republic of 080-808-0574 Luxembourg 0-800-27-311 Netherlands\* 0-800-022-0441 Norway 800-62-492 Panama 800-2066 Philippines 2-86263049 Poland 00-800-141-0213 Romania\* 0-800-360-228 Singapore 800-852-3912 Spain\* 900-905460 Sweden 020-889-823 Switzerland 0800-838-835 Taiwan 00801-14-7064 United Arab Emirates 8000-3570-3169 Uruguay 000-401-912-22 \*Anonymous reporting not permitted. Code of Business Conduct 19

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Appendix Our obligations as a U.S. government contractor Our Company has special obligations regarding fair employment practices and is subject to regulatory oversight of our hiring and workplace policies. We are committed to providing equal opportunity in all of our employment practices, including hiring, promotion, transfer and compensation of all applicants and employees without regard to race, color, sex, sexual orientation, gender identity, religion, age, marital status, national origin, disability, citizenship status, veteran status, genetic information or any other "protected category" set by applicable law. In addition to respecting protected categories, we are respectful and considerate of every individual in the conduct of our business, regardless of differences in belief systems, styles, experiences, perspectives and other things that shape their uniqueness. Non-U.S. operations As the Company expands its operations internationally, the management principles established in the Code will apply absent potential conflicts with applicable laws in other jurisdictions. These conflicts may involve applicable laws of two or more countries or this Code and applicable non-U.S. laws. If such a circumstance presents, please consult with Legal, Risk and Compliance for guidance on how to resolve that conflict properly. At-will employment The Code and Guidelines are not intended to, and do not, create an employment contract (or other contractual obligation) of any kind with any Company employee. Unless otherwise provided by written agreement with your employer, your employment is "at-will," meaning that either you or your employer may end employment without notice for any reason or no reason at all. Further, nothing herein constitutes conditions of employment or should be construed as express or implied contractual commitments by the Company. Respect for your rights Nothing in this Code or any Company policy shall, or shall be construed to, limit any employee's right, if any, to discuss the terms and conditions of employment or to engage in protected concerted activity as defined by law (such as in Section 7 of the U.S. National Labor Relations Act). In addition, neither this Code nor any Company policy shall be construed to prohibit you from filing a complaint or communicating, reporting or assisting in the reporting or investigation of possible violations of federal, state or local law or regulations to any governmental agency or self-regulatory organization, or making other disclosures that reasonably may be protected under whistleblower or other provisions of any applicable federal, state or local law or regulation. Prior authorization of, or notice to, the TIAA family of companies is not required to make any such reports or disclosures. However, the organization wants employees to share such concerns, anonymously (in countries where permitted by law) if desired, by contacting the Ethics Helpline without fear of retaliation. Phone numbers for the Ethics Helpline can be found in the Helpline Directory section of this Code. Code of Business Conduct 20

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TIAA 1 For associates outside the United States, use the email addresses provided for Employee Relations, Internal Investigations and Global Security as the listed telephone numbers may not be appropriate. For associates in India, use Grievance@in.tiaa.org for Employee Relations and DL_SecurityHelpdeskGodrejOne@tiaa.org for Global Security. In some countries, international regulators provide confidential hotlines of which staff must be made aware at their workplace. Telephone instructions for the Ethics Helpline for international associates can be found in the TIAA Code of Business Conduct on pages 18 and 19.©2022 Teachers Insurance and Annuity Association of America-College Retirement Equities Fund, 730 Third Avenue, New York, NY 10017 P0107999 created to serve. built to perform. (01/22)

## Exhibit 99.13

Exhibit 13(a)(2)(i)

**<u>CERTIFICATION</u>** 

I, Bradley Finkle, certify that:

1. I have reviewed this report on Form N-CSR of the TIAA-CREF Funds;

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that
occurred during 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

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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):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

Dated: February 1, 2023

By: <u>/s/Bradley Finkle</u> <br> Bradley Finkle<br> Principal Executive Officer and President<br> (principal executive officer)<br>

## Exhibit 99.13

Exhibit 13(a)(2)(ii)

**<u>CERTIFICATION</u>** 

I, E. Scott Wickerham, certify that:

1. I have reviewed this report on Form N-CSR of the TIAA-CREF Funds;

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the Registrant's internal control over financial reporting that
occurred during 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

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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):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(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.

Dated: February 1, 2023

By: <u>/s/E. Scott Wickerham</u> <br> E. Scott Wickerham<br> Principal Financial Officer, Principal<br> Accounting Officer and Treasurer<br> (principal financial officer)<br>

## Exhibit 99.13

Exhibit 13(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-CREF Funds does hereby certify, to such officer's knowledge, that:

The report on Form N-CSR of the TIAA-CREF Funds (the "Funds") (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 Funds.

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| | |
|:---|:---|
|  Dated: February 1, 2023 | <br> By: <u>/s/Bradley Finkle</u> <br> Bradley Finkle<br> Principal Executive Officer and President<br> (principal executive officer) |
|  Dated: February 1, 2023 | <br> By: <u>/s/E. Scott Wickerham</u> <br> E. Scott Wickerham<br> Principal Financial Officer, Principal<br> Accounting Officer and Treasurer<br> (principal financial officer) |

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