UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number File No. 811-08961
TIAA-CREF LIFE FUNDS
(Exact name of Registrant as specified in charter)
730 Third Avenue, New York, New York 10017-3206
(Address of principal executive offices) (Zip code)
Stewart P. Greene, Esq.
c/o TIAA-CREF
730 Third Avenue
New York, New York 10017-3206
(Name and address of agent for service)
Registrant’s telephone number, including area code: 212-490-9000
Date of fiscal year end: December 31
Date of reporting period: June 30, 2010
Item 1. | Reports to Stockholders. |
2010 SEMIANNUAL REPORT
TIAA-CREF LIFE FUNDS
JUNE 30, 2010
Financial statements (unaudited)
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3 | ||
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Fund performance | ||
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11 | ||
14 | ||
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25 | ||
28 | ||
Summary portfolios of investments | 31 | |
Financial statements | ||
Statements of assets and liabilities | 68 | |
Statements of operations | 72 | |
Statements of changes in net assets | 76 | |
Financial highlights | 83 | |
Notes to financial statements | 94 | |
2010 special meeting | 104 | |
Board approval of investment management agreement | 105 | |
How to reach us | Inside back cover |
UNDERSTANDING YOUR TIAA-CREF LIFE FUNDS REPORT
This report contains information about the ten TIAA-CREF Life Funds and describes the funds’ results for the six months ended June 30, 2010. The report contains three main sections:
• | The fund performance section compares each fund’s return with the return of that fund’s benchmark index. |
• | The summary portfolios of investments list the industries and types of securities in which each fund had investments as of June 30, 2010. It also lists the fund’s largest individual holdings and any holding that made up more than one percent of the fund’s net assets on that date. |
• | The financial statements contain detailed information about the operations and financial condition of each fund. |
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 website at tiaa-cref.org, or call 800 223-1200. We urge you to read the prospectus carefully before investing.
2 2010 Semiannual Report — TIAA-CREF Life Funds
INFORMATION ON THE TIAA-CREF LIFE FUNDS
PORTFOLIO HOLDINGS
Securities and Exchange Commission (SEC) rules intended to provide investors with more meaningful information about fund performance allow investment companies to list the top holdings of each fund in their annual and semiannual reports instead of providing complete portfolio listings. The 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 Life Funds’ portfolio holdings (called “TIAA-CREF Life Funds Schedules of Investments”) as of the most recently completed fiscal quarter in the following ways:
• | By visiting our website at tiaa-cref.org; or |
• | By calling us at 800 842-2776 to request a copy, which is free of charge. |
You can also obtain a complete list of the TIAA-CREF Life Funds’ portfolio holdings as of the most recently completed fiscal quarter, and for prior quarter-ends, from the SEC. (Form N-CSR lists holdings as of December 31 or June 30; Form N-Q lists holdings as of March 31 or September 30.) Copies of these forms are available:
• | Through the Electronic Data Gathering and Retrieval System (EDGAR) on the SEC’s website at www.sec.gov; or |
• | From the SEC’s Office of Investor Education and Advocacy. (Call 202 551-8090 for more information.) |
PROXY VOTING
TIAA-CREF Life 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-cref.org or on the SEC’s web-site at www.sec.gov. You can also call us at 800 223-1200 to request a free copy. A report of how the funds voted during the most recently completed twelve-month period ended June 30 can be found on our website or on Form N-PX at www.sec.gov.
CONTACTING TIAA-CREF
There are three easy ways to contact us: by e-mail, using the Contact Us link at the top of our home page; by mail at TIAA-CREF, 730 Third Avenue, New York, NY 10017–3206; or by phone at 800 223-1200.
FUND MANAGEMENT
TIAA-CREF Life Funds are managed by the portfolio management teams of Teachers Advisors, Inc. The members of these teams are responsible for the day-to-day investment management of the funds.
TIAA-CREF Life Funds — 2010 Semiannual Report 3
EQUITY INDEXES
BROAD-MARKET INDEX
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.
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 MSCI EAFE (Europe, Australasia, Far East) Index measures the performance of the leading stocks in 21 developed countries outside North America.
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.
SPECIALTY EQUITY INDEX
The FTSE NAREIT Equity REITs Index measures the performance of publicly traded real estate investment trusts in the United States that own, manage and lease investment-grade commercial real estate.
4 2010 Semiannual Report — TIAA-CREF Life Funds
FIXED-INCOME INDEX
The Barclays Capital U.S. Aggregate Bond Index measures the performance of the U.S. investment-grade, fixed-rate bond market, including government and credit securities, agency mortgage pass-through securities, asset-backed securities and commercial mortgage-backed securities.
You cannot invest directly in any index. Index returns do not include a deduction for fees or expenses.
Russell 1000, Russell 2000 and Russell 3000 are trademarks and service marks of Russell Investment Group. TIAA-CREF products are not promoted or sponsored by, or affiliated with, Russell Investment Group. 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 the McGraw-Hill Companies, Inc.
TIAA-CREF Life Funds — 2010 Semiannual Report 5
IMPORTANT INFORMATION ABOUT EXPENSES
Shareholders in the TIAA-CREF Life Funds incur only one of two potential types of costs.
• | Shareholders do not incur transaction costs, including sales charges (loads) on purchases, on reinvested dividends or on other distributions. There are also no redemption fees or exchange fees. |
• | However, they do incur ongoing costs, including management fees. The TIAA-CREF Life Funds are the underlying investment vehicles for certain variable life insurance and variable annuity contracts issued by TIAA-CREF Life Insurance Company. These contracts have additional administrative expense fees and mortality and expense risk charges. Because of these additional deductions, the costs to investors will be higher than the figures shown in the expense examples. |
The examples that appear on the performance pages are intended to help you understand your ongoing costs (in U.S. dollars) of investing in each fund. The examples are also designed to help you compare these costs with the ongoing costs of investing in other funds.
The examples assume $1,000 was invested on January 1, 2010, and held for six months until June 30, 2010.
ACTUAL EXPENSES
The first line in each table uses the fund’s actual expenses and its actual rate of return. You may use the information in this line, together with the amount you invested at the beginning of the period, to estimate the expenses that you paid over the six-month period.
Simply divide your fund value by $1,000 (for example, an $8,600 fund value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading “Expenses paid” to estimate the expenses you paid during the six-month period.
HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES
The second line in the table shows hypothetical fund values and expenses based on the fund’s actual expense ratio for the six-month period and an assumed 5% per year rate of return before expenses. This was not the fund’s actual return.
This hypothetical example cannot be used to estimate the actual expenses you paid for the period but rather allows you to compare the ongoing costs of investing in this fund with the costs of other funds. To do so, compare our 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of other funds.
6 2010 Semiannual Report — TIAA-CREF Life Funds
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Growth Equity Fund returned –9.03% for the period, compared with the –7.65% return of its benchmark, the Russell 1000® Growth Index. For the year ended June 30, 2010, the fund returned 11.89%, versus 13.62% for the index.
Large-cap growth lags large-cap value
In the first half of 2010, large-cap growth stocks trailed the –5.12% return of large-cap value issues, as measured by the Russell 1000 Value Index. This marked a reversal from 2009, when the large-cap growth category returned 37.21%, strongly outpacing the 19.69% return of large-cap value issues.
For the ten years ended June 30, 2010, the Russell 1000 Growth Index posted an average annual return of –5.14%—more than seven-and-a-half percentage points less than the 2.38% average annual gain of the Russell 1000 Value Index.
Downturn affects all sectors
All nine industry sectors of the Russell 1000 Growth Index suffered losses during the six-month period. Technology, the largest sector in the index and more than a quarter of its total market capitalization as of June 30, 2010, lost 10.2% on fears that slowing economic growth would reduce spending on technology products by both consumers and corporations. More than three percentage points of the benchmark’s loss came from this sector.
The energy and health care sectors, which together made up one-fifth of the index, dropped 15.6% and 6.6%, respectively.
Producer durables held up best but still finished with a loss of 1.7%. The consumer discretionary and consumer staples sectors also weathered the downturn better than most other sectors, returning –3.9% and –3.2%, respectively.
Stock choices weigh on fund’s performance
The fund trailed its benchmark because of several unfavorable stock selections. Among the largest detractors from relative performance were overweight positions in Google, MasterCard, software company Adobe Systems and online retailer Amazon.com. The avoidance of McDonald’s also detracted from the fund’s relative returns.
These results were partially offset by a number of successful stock selections, including overweight positions in Boeing, Apple and software company Intuit. Overweight positions in Dr Pepper Snapple Group and educational media distributor Discovery Communications also aided relative results.
TIAA-CREF Life Funds — 2010 Semiannual Report 7
GROWTH EQUITY FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | 10 years | |||||||||
Growth Equity Fund (inception: 4/3/2000) | –9.03 | % | 11.89 | % | 0.26 | % | –5.90 | % | ||||
Russell 1000® Growth Index | –7.65 | 13.62 | 0.38 | –5.14 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
Growth Equity Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10– 6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 909.73 | $ | 1.61 | |||
5% annual hypothetical return | 1,000.00 | 1,023.11 | 1.71 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.52%. In that case, the expenses paid, based on the fund’s actual return, would have been $2.46; and the expenses paid, based upon the 5% hypothetical return, would have been $2.61. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.34%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Technology | 37.5 | |
Consumer products & services | 28.8 | |
Manufacturing & materials | 14.3 | |
Health care | 10.8 | |
Energy | 4.6 | |
Financial | 3.7 | |
Other assets & liabilities, net | 0.3 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
Over $15 billion | 56.8 | |
$4 billion–$15 billion | 42.3 | |
Under $4 billion | 0.9 | |
Total | 100.0 |
8 2010 Semiannual Report — TIAA-CREF Life Funds
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Growth & Income Fund returned –8.17% for the period, compared with the –6.65% return of its benchmark, the S&P 500® Index. For the year ended June 30, 2010, the fund returned 11.25%, versus 14.43% for the index.
Large-cap stocks lag the market
During the six-month period, the S&P 500 Index, which measures the performance of leading large-cap U.S. stocks, trailed the –6.05% return of the broad-based Russell 3000® Index by more than half a percentage point. This reflected the fact that one-third of the Russell 3000 Index is made up of small- and mid-cap stocks, and both categories held up better than large-cap issues during the period. The small-cap stocks of the Russell 3000 were down just 1.95%; mid-cap issues lost 2.06%.
For the ten years ended June 30, 2010, the S&P 500 Index posted an average annual return of –1.59%, compared with the –0.92% average return of the Russell 3000 Index over the same period.
All index sectors post losses
Losses during the six months extended across all ten industry sectors of the index, but sector returns varied significantly. The largest sector, information technology, declined 10.6%. Two other large sectors, energy and health care, were down 12.2% and 8.8%, respectively. Together, these three sectors made up more than 40% of the benchmark’s market capitalization on June 30, 2010. The benchmark’s poorest performing sector was materials, which dropped 12.9%.
These losses were partly offset by financials, the second largest sector in the index, which fell just 3.7%. Similarly, the consumer staples and industrials sectors, which together made up more than one-fifth of the S&P 500 Index, declined only 2.8% and 0.9%, respectively.
Stock selections detract from relative return
The fund lagged its benchmark primarily because of several unfavorable stock selections. Detractors from relative performance included an overweight position in Anadarko Petroleum and underweight holdings in Johnson & Johnson and Boeing. An out-of-benchmark position in investment firm Lazard also hurt relative results.
These negative effects were partly offset by positive contributors that included overweight positions in data storage provider SanDisk, educational media distributor Discovery Communications and Apple. An underweight position in drug maker Merck also helped returns.
TIAA-CREF Life Funds — 2010 Semiannual Report 9
GROWTH & INCOME FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | 10 years | |||||||||
Growth & Income Fund (inception: 4/3/2000) | –8.17 | % | 11.25 | % | 2.53 | % | –0.56 | % | ||||
S&P 500® Index | –6.65 | 14.43 | –0.79 | –1.59 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
Growth & Income Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10– 6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 918.35 | $ | 1.57 | |||
5% annual hypothetical return | 1,000.00 | 1,023.16 | 1.66 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.52%. In that case, the expenses paid, based on the fund’s actual return, would have been $2.47; and the expenses paid, based upon the 5% hypothetical return, would have been $2.61. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.33%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Consumer products & services | 26.5 | |
Technology | 22.1 | |
Manufacturing & materials | 16.9 | |
Financial | 14.4 | |
Energy | 8.6 | |
Health care | 8.0 | |
Utilities | 3.1 | |
Other assets & liabilities, net | 0.4 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
Over $15 billion | 69.7 | |
$4 billion–$15 billion | 20.0 | |
Under $4 billion | 10.3 | |
Total | 100.0 |
10 2010 Semiannual Report — TIAA-CREF Life Funds
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The International Equity Fund returned –9.67% for the period, compared with the –13.23% return of its benchmark, the MSCI EAFE Index. For the year ended June 30, 2010, the fund returned 12.13%, versus 5.92% for the index.
Foreign stocks lag U.S. issues
After achieving an outsized return of 31.78% for 2009, the EAFE index, which measures stock performance in 21 developed nations outside North America, posted a substantial loss during the first half of 2010. The European debt crisis and worries about slowing growth in the United States depressed prices in many foreign markets and caused a drop in the value of the euro and pound versus the dollar.
The MSCI EAFE returned –7.34% for the six months in terms of local currencies, but that loss was amplified for U.S. investors. In terms of dollars, the EAFE lagged U.S. stocks by more than seven percentage points. The Russell 3000® Index returned –6.05% for the period.
Japanese stocks hold up best
Japanese stocks, the largest component of the index, performed better than both European and U.S. stocks during the period, returning –2.7% in dollar terms. Other Pacific stocks returned –11.6%. The –16.7% return of the European segment was driven by double-digit losses in its two largest markets—Britain and France.
Stock choices limit decline
While the fund posted a loss in absolute terms, favorable stock selections enabled it to outperform the EAFE index by more than three-and-a-half percentage points. The largest positive contributor to relative performance was German chemicals producer Lanxess, a nonbenchmark stock. Other positive contributors included overweights in two British companies: ICAP, a broker for banks and other securities traders, and Smiths Group, a technology company. A sizable underweight in BP also helped relative returns.
These positive results were partially offset by overweights in several stocks that disappointed, including three German issues: industrial conglomerate ThyssenKrupp, drug maker Bayer and Deutsche Boerse, the nation’s leading stock exchange. An overweight in Swiss agribusiness giant Syngenta also trimmed returns.
As of June 30, 2010, stocks of companies in emerging markets, which are not represented in the benchmark, made up 7.5% of the fund’s total portfolio investments.
TIAA-CREF Life Funds — 2010 Semiannual Report 11
INTERNATIONAL EQUITY FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | 10 years | |||||||||
International Equity Fund (inception: 4/3/2000) | –9.67 | % | 12.13 | % | 1.62 | % | –0.26 | % | ||||
MSCI EAFE Index | –13.23 | 5.92 | 0.88 | 0.18 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
International Equity Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10– 6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 903.29 | $ | 1.84 | |||
5% annual hypothetical return | 1,000.00 | 1,022.86 | 1.96 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.60%. In that case, the expenses paid, based on the fund’s actual return, would have been $2.83; and the expenses paid, based upon the 5% hypothetical return, would have been $3.01. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.39%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
12 2010 Semiannual Report — TIAA-CREF Life Funds
INTERNATIONAL EQUITY FUND
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Consumer products & services | 39.2 | |
Manufacturing & materials | 35.3 | |
Financial | 15.4 | |
Energy | 3.2 | |
Technology | 2.3 | |
Utilities | 1.9 | |
Other assets & liabilities, net | 2.7 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
Over $15 billion | 28.1 | |
$4 billion–$15 billion | 46.1 | |
Under $4 billion | 25.8 | |
Total | 100.0 |
HOLDINGS BY COUNTRY
Country | % of portfolio investments as of 6/30/2010 | |
United Kingdom | 21.0 | |
Germany | 20.6 | |
Switzerland | 15.9 | |
Japan | 10.8 | |
Sweden | 7.4 | |
Hong Kong | 6.2 | |
Macau | 4.5 | |
China | 4.3 | |
Finland | 2.0 | |
9 other nations | 7.3 | |
Total | 100.0 |
TIAA-CREF Life Funds — 2010 Semiannual Report 13
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Large-Cap Value Fund returned –5.41% for the period, compared with the –5.12% return of its benchmark, the Russell 1000® Value Index. For the year ended June 30, 2010, the fund returned 15.55%, versus 16.92% for the index.
Large-cap investors favor value
After trailing large-cap growth stocks in 2009, their value counterparts fared better in the market downturn that occurred in the first half of 2010. Large-cap growth stocks returned –7.65% for the six months.
For the five years ended June 30, 2010, growth issues maintained their lead in the large-cap category. The Russell 1000 Value Index posted an average annual return of –1.64%—about two percentage points less than the 0.38% return of the Russell 1000 Growth Index.
Eight sectors suffer losses
All but one of the nine industry sectors of the Russell 1000 Value Index posted declines for the six-month period. The benchmark’s drop was driven by the 11.3% loss in the energy sector, the second largest sector in the index. Declines in health care (down 9.6%) and utilities (down 7.2%) also played a major role. Financial services, the benchmark’s largest sector, fell 2.4%.
Only the consumer staples sector recorded a gain. This sector, which often holds up well when economic growth is weak, rose 0.5%.
Fund trails its benchmark
The fund lagged its benchmark for the period because of a number of unfavorable stock selections. These included overweight positions in Cobalt International Energy, medical device maker Boston Scientific and online brokerage firm E*Trade, as well as nonbenchmark holdings in technology firm Palm.
These negative effects on relative performance were partially offset by positive contributors, such as overweight positions in Midwestern bank Huntington Bancshares and Smith International, which provides equipment for oil and gas production. The fund also benefited from nonbench-mark holdings in automotive supplier Magna International.
14 2010 Semiannual Report — TIAA-CREF Life Funds
LARGE-CAP VALUE FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | since inception | |||||||||
Large-Cap Value Fund (inception: 10/28/2002) | –5.41 | % | 15.55 | % | –0.96 | % | 5.93 | % | ||||
Russell 1000 Value Index | –5.12 | 16.92 | –1.64 | 4.84 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
Large-Cap Value Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10– 6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 945.91 | $ | 1.64 | |||
5% annual hypothetical return | 1,000.00 | 1,023.11 | 1.71 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.52%. In that case, the expenses paid, based on the fund’s actual return, would have been $2.51; and the expenses paid, based upon the 5% hypothetical return, would have been $2.61. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.34%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Consumer products & services | 24.6 | |
Financial | 24.7 | |
Manufacturing & materials | 15.4 | |
Technology | 11.7 | |
Energy | 9.6 | |
Health care | 8.9 | |
Utilities | 5.1 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
Over $15 billion | 61.4 | |
$4 billion–$15 billion | 18.2 | |
Under $4 billion | 20.4 | |
Total | 100.0 |
TIAA-CREF Life Funds — 2010 Semiannual Report 15
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Small-Cap Equity Fund returned –2.03% for the period, compared with the –1.95% return of its benchmark, the Russell 2000® Index. For the year ended June 30, 2010, the fund returned 21.97%, versus 21.48% for the index.
Small caps hold up in the downturn
Although small-cap stocks trailed the overall equity market during 2009, they held up better than the –6.05% return of the broad-based Russell 3000® Index for the six-month period. In addition, they fared better than their mid- and large-cap counterparts, which returned –2.06% and –6.40%, respectively.
During the first quarter of 2010, small caps continued to rally along with stocks of other capitalization sizes. Small-cap issues climbed 8.90%, outpacing the 5.94% return of the broader market. In the second quarter, small caps fell 9.92%, while the broader market declined 11.32%.
For the five years ended June 30, 2010, small caps retained their advantage. They posted an average annual gain of 0.37%, versus the –0.48% return of the Russell 3000 Index.
Three index sectors remain positive
For the six-month period, the return of the Russell 2000 was buoyed by three sectors that posted small gains despite the downturn in the broader market. Consumer staples (up 2.0%), consumer discretionary (up 1.7%) and financial services (up 0.6%) partially offset some of the downward pressure in other sectors. Together, these three sectors made up 40% of the benchmark’s market capitalization on June 30, 2010.
Losses for the six months were steepest in the energy and materials and processing sectors, which fell 12.4% and 5.4%, respectively. Lack-luster results from the health care (down 3.2%), utilities (down 3.0%) and technology (down 2.6%) sectors also weighed on the index.
Fund closely tracks its benchmark
For the six months, the fund slightly underperformed its benchmark because of several unfavorable stock choices. Among the largest detractors from performance were overweight positions, relative to the benchmark, in technology company Unisys, oil and gas firm Willbros Group and biophar-maceutical company Medivation.
These losses were partly offset by overweight holdings in Odyssey HealthCare, oil and natural gas producer McMoRan Exploration, airline UAL and car rental company Dollar Thrifty Automotive Group.
The fund continued to use proprietary quantitative models to select small-cap stocks that appeared to be attractively priced.
16 2010 Semiannual Report — TIAA-CREF Life Funds
SMALL-CAP EQUITY FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | since inception | |||||||||
Small-Cap Equity Fund (inception: 10/28/2002) | –2.03 | % | 21.97 | % | –0.09 | % | 8.22 | % | ||||
Russell 2000 Index | –1.95 | 21.48 | 0.37 | 8.16 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
Small-Cap Equity Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10–6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 979.74 | $ | 1.28 | |||
5% annual hypothetical return | 1,000.00 | 1,023.51 | 1.30 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.55%. In that case, the expenses paid, based on the fund’s actual return, would have been $2.70; and the expenses paid, based upon the 5% hypothetical return, would have been $2.76. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.26%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Manufacturing & materials | 22.5 | |
Consumer products & services | 20.6 | |
Financial | 19.5 | |
Technology | 17.2 | |
Health care | 12.0 | |
Utilities | 4.2 | |
Energy | 3.9 | |
Other assets & liabilities, net | 0.1 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
$4 billion–$15 billion | 0.4 | |
Under $4 billion | 99.6 | |
Total | 100.0 |
TIAA-CREF Life Funds — 2010 Semiannual Report 17
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Stock Index Fund returned –6.05% for the period, matching the return of its benchmark, the Russell 3000® Index. For the year ended June 30, 2010, the fund returned 15.64%, versus 15.72% for the index.
For the six-month period, the fund’s return equaled that of its benchmark, 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.
Stocks retreat on economic worries
After returning 28.34% in 2009—their best calendar-year performance since 2003—U.S. stocks posted robust gains during the first four months of 2010, with the Russell 3000 Index up an additional 8.23%. However, a sharp sell-off in May and June caused stocks to finish the first half of the year in negative territory. The spreading debt crisis in Europe, plus evidence of slowing growth in the United States, raised fears about a slowdown in the world economy.
During the six-month period, value stocks held up better than their growth counterparts, returning –4.83% versus –7.25%. Small-cap shares fell 1.95%, outperforming mid and large caps, which dropped 2.06% and 6.40%, respectively. (Returns by investment style and market capitalization are based on the Russell indexes.)
Losses vary across industry sectors
All nine industry sectors of the Russell 3000 Index posted declines for the first half of 2010, but losses varied sharply. The primary drag on the benchmark’s return was a 9.5% loss in the technology sector. Tech stocks were the benchmark’s largest sector, making up about one-sixth of its total market capitalization as of June 30, 2010. Two other large sectors, energy and health care, had losses of 12.1% and 7.2%, respectively.
Declines were smaller, however, among producer durables (down 1.5%) and consumer discretionary stocks (down 2.0%).
Four of the benchmark’s five largest stocks decline
Of the five largest stocks in the Russell 3000, only Apple posted a gain, helped by better-than-expected earnings and investor enthusiasm over the company’s latest products. Its stock returned 18.9%. The other four stocks declined as follows, in descending order of market capitalization at period-end: Exxon Mobil, –15.9%; Microsoft, –25.0%; Procter & Gamble, –0.8%; and Johnson & Johnson, –7.5%.
18 2010 Semiannual Report — TIAA-CREF Life Funds
STOCK INDEX FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | 10 years | |||||||||
Stock Index Fund (inception: 1/4/1999) | –6.05 | % | 15.64 | % | –0.42 | % | –0.87 | % | ||||
Russell 3000 Index | –6.05 | 15.72 | –0.48 | –0.92 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
Stock Index Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10–6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 939.49 | $ | 0.34 | |||
5% annual hypothetical return | 1,000.00 | 1,024.45 | 0.35 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.09%. In that case, the expenses paid, based on the fund’s actual return, would have been $0.43; and the expenses paid, based upon the 5% hypothetical return, would have been $0.45. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.07%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Consumer products & services | 24.3 | |
Technology | 19.8 | |
Financial | 18.0 | |
Manufacturing & materials | 16.0 | |
Energy | 9.4 | |
Health care | 8.4 | |
Utilities | 4.0 | |
Other assets & liabilities, net | 0.1 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
Over $15 billion | 60.9 | |
$4 billion–$15 billion | 21.0 | |
Under $4 billion | 18.1 | |
Total | 100.0 |
TIAA-CREF Life Funds — 2010 Semiannual Report 19
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Social Choice Equity Fund returned –5.87% for the period, compared with the –6.05% return of its benchmark, the Russell 3000® Index. For the year ended June 30, 2010, the fund returned 18.04%, versus 15.72% for the index. The fund screens investments according to social criteria, while the benchmark does not.
Stock exclusions aid relative results
Although its absolute return was disappointing for the six-month period, the fund outperformed its benchmark because its social screens prevented it from investing in a number of stocks that were included in the Russell 3000 Index. Avoiding these stocks produced mixed results during the period, but the net effect was to increase the fund’s return relative to that of its benchmark.
The fund’s outperformance was largely the result of the exclusion of Exxon Mobil, the largest stock in the index in terms of market capitalization on June 30, 2010. Exxon Mobil lost 15.9% for the period, as oil prices climbed then fell and investors worried about the staying power of the global economic recovery. Avoiding pharmaceutical leader Pfizer (down 21.4%), telecommunications firm Qualcomm (down 29.2%) and agricultural giant Monsanto (down 43.7%) also aided relative results.
Relative performance suffered, however, from the exclusion of Apple, which rose 18.9% on better-than-expected earnings and investor enthusiasm for the company’s portfolio of products. The absence of Citigroup (up 13.3%) and Boeing (up 15.6%) also trimmed returns.
Statistical strategies curb losses
Because the fund’s social screens preclude it from investing in some of the stocks within the Russell 3000 Index, the fund’s managers use statistical techniques to help ensure that the risk characteristics of the portfolio resemble those of the index. One such method is to overweight or underweight specific stocks relative to each one’s percentage of capitalization within the benchmark.
During the six-month period, the fund’s relative return was enhanced by overweight holdings in power generation equipment manufacturer Cummins, which soared 41.2%; Time Warner Cable, which gained 26.5%; and McDonald’s, which returned 6.5%. The positive effects of these positions were partly offset by other overweight investments in poorly performing stocks, including Microsoft (down 25.0%), Google (down 28.6%) and asset management firm BlackRock (down 38.9%).
20 2010 Semiannual Report — TIAA-CREF Life Funds
SOCIAL CHOICE EQUITY FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | 10 years | |||||||||
Social Choice Equity Fund (inception: 4/3/2000) | –5.87 | % | 18.04 | % | 0.55 | % | –0.47 | % | ||||
Russell 3000 Index | –6.05 | 15.72 | –0.48 | –0.92 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
Social Choice Equity Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10–6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 941.34 | $ | 0.58 | |||
5% annual hypothetical return | 1,000.00 | 1,024.20 | 0.60 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.22%. In that case, the expenses paid, based on the fund’s actual return, would have been $1.06; and the expenses paid, based upon the 5% hypothetical return, would have been $1.10. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.12%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Consumer products & services | 28.3 | |
Technology | 18.3 | |
Financial | 15.3 | |
Manufacturing & materials | 14.9 | |
Health care | 8.0 | |
Energy | 7.6 | |
Utilities | 6.8 | |
Other assets & liabilities, net | 0.8 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
Over $15 billion | 59.1 | |
$4 billion–$15 billion | 26.0 | |
Under $4 billion | 14.9 | |
Total | 100.0 |
TIAA-CREF Life Funds — 2010 Semiannual Report 21
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Real Estate Securities Fund returned 6.57% for the period, compared with the 5.56% return of its benchmark, the FTSE NAREIT Equity REITs Index. For the year ended June 30, 2010, the fund returned 54.04%, versus 53.90% for the index.
REITs rise in a downturn
In the year’s first quarter, investors’ renewed appetite for risk and improving balance sheets for public real estate firms boosted prices for real estate investment trusts (REITs). The fund’s benchmark rose 10.02%. However, concern over slowing U.S. growth led to a 4.06% decline in the second quarter.
The apartment sector continued to benefit during the period, with rental units serving as an alternative to the slumping residential real estate market. Meanwhile, the economically sensitive industrials area posted a decline as a result of weaker economic growth.
REITs top the broad market
For the six-month period, REITs returned a solid 5.56%, outpacing both the –6.05% return of U.S. stocks, as measured by the Russell 3000® Index, and the 5.33% return of U.S. investment-grade, fixed-rate bonds, as measured by the Barclays Capital U.S. Aggregate Bond Index.
For the five years ended June 30, 2010, the 0.20% average annual gain of the REITs index outpaced the –0.48% return of the Russell 3000 but lagged the 5.54% average gain of the Barclays Capital index.
Stock choices lift the fund’s return
The fund outperformed its benchmark by a full percentage point on the strength of numerous successful stock selections. These included overweight positions, relative to the benchmark, in shopping mall operator Glimcher Realty Trust and hotel owner FelCor Lodging Trust. Underweighting timberland owner and lumber producer Plum Creek Timber also added to relative performance.
These positive contributions were partially offset by other investments that performed less well. These included nonbenchmark holdings in luxury hotel operator Orient-Express Hotels and an underweight in Equity Residential, an owner and operator of multifamily properties. An overweight position in shopping center operator Developers Diversified Realty also detracted slightly from relative returns.
22 2010 Semiannual Report — TIAA-CREF Life Funds
REAL ESTATE SECURITIES FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | �� | Average annual total return | ||||||||||
6 months | 1 year | 5 years | since inception | |||||||||
Real Estate Securities Fund (inception: 10/28/2002) | 6.57 | % | 54.04 | %* | –1.31 | % | 9.10 | % | ||||
FTSE NAREIT Equity REITs Index | 5.56 | 53.90 | 0.20 | 9.75 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
* | The Real Estate Securities Fund’s performance fluctuates and currently may be lower than the exceptional performance noted here. |
EXPENSE EXAMPLE
Six months ended June 30, 2010
Real Estate Securities Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid† (1/1/10–6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 1,065.65 | $ | 1.90 | |||
5% annual hypothetical return | 1,000.00 | 1,022.96 | 1.86 |
† | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.57%. In that case, the expenses paid, based on the fund’s actual return, would have been $2.92; and the expenses paid, based upon the 5% hypothetical return, would have been $2.86. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.37%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
TIAA-CREF Life Funds — 2010 Semiannual Report 23
REAL ESTATE SECURITIES FUND
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Specialized | 30.0 | |
Retail | 24.9 | |
Residential | 13.2 | |
Office | 12.2 | |
Diversified | 9.5 | |
Industrial | 5.5 | |
Office electronics | 2.0 | |
Hotels, restaurants & leisure | 1.9 | |
Mortgage | 0.2 | |
Other assets & liabilities, net | 0.6 | |
Total | 100.0 |
HOLDINGS BY COMPANY SIZE
Market capitalization | % of equity investments as of 6/30/2010 | |
Over $15 billion | 10.4 | |
$4 billion–$15 billion | 57.6 | |
Under $4 billion | 32.0 | |
Total | 100.0 |
24 2010 Semiannual Report — TIAA-CREF Life Funds
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Bond Fund returned 5.39% for the period, compared with the 5.33% return of its benchmark, the Barclays Capital U.S. Aggregate Bond Index. For the year ended June 30, 2010, the fund returned 10.54%, versus 9.50% for the index.
Economic uncertainty boosts bonds
During the six months, the U.S. economy continued on a path of slow recovery. Unemployment edged down to 9.5% in June, with nearly half of jobless workers unemployed for more than six months. Gross domestic product grew at an annual rate of 3.7% in the first quarter of 2010, but even consumers with jobs spent sparingly, constrained by lower home values and high levels of personal debt.
As a result, the Federal Reserve kept its target federal funds rate (the interest rate U.S. commercial banks charge one another for overnight loans) near 0% for the period.
The Barclays Capital U.S. Aggregate Bond Index, which measures the broad domestic investment-grade, fixed-rate bond market, returned 1.78% for the period’s first half, when investors sought the potentially higher returns of stocks and lower-grade corporate bonds. However, as concern mounted over Europe’s debt crisis, the pace of economic recovery in the United States and the extent of financial reform, investors turned to the safety of U.S. Treasury securities, and the index gained 3.49% for the second half.
Treasuries lead the way
U.S. Treasury securities gained 5.9% for the period, outpacing almost all other benchmark sectors. Corporate bonds posted a return of 5.8%, while asset- and mortgage-backed securities returned 4.8% and 4.5%, respectively. Agency securities lagged with a 3.8% return. Only the relatively small commercial mortgage-backed sector outperformed Treasuries; the former gained 12.1%. During the six months, the yield on 2-year Treasury notes fell from 1.14% at year-end 2009 to 0.61% on June 30, 2010. The 10-year yield declined from 3.85% to 2.97%.
The fund outpaces its benchmark
The fund topped the Barclays Capital index primarily because of favorable overweight positions in agency and asset-backed securities and in corporate bonds. These holdings helped the fund significantly outperform the index in the period’s first half, which more than offset the outsized drag on relative performance posed by underweights in U.S. Treasury securities in the second half. An underweight position in mortgage-backed securities trimmed the fund’s return for the period.
TIAA-CREF Life Funds — 2010 Semiannual Report 25
BOND FUND
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | since inception | |||||||||
Bond Fund (inception: 7/8/2003) | 5.39 | % | 10.54 | % | 4.64 | % | 4.41 | % | ||||
Barclays Capital U.S. Aggregate Bond Index | 5.33 | 9.50 | 5.54 | 5.06 |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org. The index returns noted above do not include a deduction for fees or expenses.
EXPENSE EXAMPLE
Six months ended June 30, 2010
Bond Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10– 6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 1,053.87 | $ | 0.97 | |||
5% annual hypothetical return | 1,000.00 | 1,023.85 | 0.95 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.35%. In that case, the expenses paid, based on the fund’s actual return, would have been $1.78; and the expenses paid, based upon the 5% hypothetical return, would have been $1.76. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.19%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
26 2010 Semiannual Report — TIAA-CREF Life Funds
BOND FUND
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
Mortgage-backed securities & commercial mortgage-backed securities† | 34.0 | |
Corporate bonds | 21.6 | |
U.S. Treasury securities | 19.5 | |
Foreign government & corporate bonds denominated in U.S. dollars | 12.2 | |
U.S. agency securities | 6.5 | |
Asset-backed securities | 2.2 | |
Municipal bonds | 0.7 | |
Other assets & liabilities, net | 3.3 | |
Total | 100.0 |
† | Includes mortgage pass-through securities and collateralized mortgage obligations |
HOLDINGS BY MATURITY
% of fixed-income investments as of 6/30/2010 | ||
Less than 1 year | 1.1 | |
1–3 years | 15.5 | |
3–5 years | 21.9 | |
5–10 years | 16.8 | |
Over 10 years | 44.7 | |
Total | 100.0 |
TIAA-CREF Life Funds — 2010 Semiannual Report 27
PERFORMANCE FOR THE SIX MONTHS ENDED JUNE 30, 2010
The Money Market Fund returned 0.07% for the period, compared with the 0.01% return of the iMoneyNet Money Fund Report Averages™—All Taxable, a simple average of over 1,000 taxable money market funds. The iMoneyNet average is not an index, and its return reflects the deduction of expenses charged by the funds included in the average. For the year ended June 30, 2010, the fund returned 0.23%, versus 0.05% for iMoneyNet.
The Fed ends its stimulus programs
During the six months, the U.S. economy continued on a path of slow recovery. Unemployment edged down to 9.5% in June, with nearly half of jobless workers unemployed for more than six months. Gross domestic product grew at an annual rate of 3.7% in the first quarter of 2010, but even consumers with jobs spent sparingly, constrained by lower home values and high levels of personal debt.
As the credit market stabilized, the Federal Reserve allowed the programs it had created to stimulate liquidity to lapse as scheduled. However, the Fed maintained its target for the federal funds rate (the interest rate U.S. commercial banks charge one another for overnight loans) at nearly 0%.
Uncertainty lifts LIBOR yields
During the period, concerns about the spreading debt crisis in Europe pushed up LIBOR yields, making it more expensive for businesses to borrow cash. (LIBOR, an indication of the interest rates that banks expect to pay to other banks for loans on the London market, is the most widely used benchmark for short-term rates.) The three-month LIBOR more than doubled, from 0.25% at year-end 2009 to 0.53% on June 30, 2010. Meanwhile, the twelve-month LIBOR rose from 0.98% to 1.17%.
The fund takes advantage of shifting opportunities
For the six-month period, the fund outperformed the average iMoneyNet fund. To comply with new SEC regulations for all money market funds, the fund increased its holdings in U.S. Treasury and agency securities. As the supply of high-quality, short-term corporate and bank debt dried up, the fund decreased its investments in them. The fund’s weighted average maturity, which declined during the period, was 56 days on June 29, 2010, versus 36 days for the average iMoneyNet fund.
28 2010 Semiannual Report — TIAA-CREF Life Funds
MONEY MARKET FUND
NET ANNUALIZED YIELD FOR THE 7 DAYS ENDED JUNE 29, 2010*
Current yield | Effective yield | |||||
Money Market Fund | 0.12 | % | 0.12 | % | ||
iMoneyNet Money Fund Report Averages—All Taxable† | 0.04 | 0.04 |
The current yield more closely reflects current earnings than does the total return.
* | iMoneyNet reports its 7-day yields as of Tuesday of each week. |
PERFORMANCE AS OF JUNE 30, 2010
Total return | Average annual total return | |||||||||||
6 months | 1 year | 5 years | since inception | |||||||||
Money Market Fund (inception: 7/8/2003) | 0.07 | % | 0.23 | % | 3.14 | % | 2.70 | % | ||||
iMoneyNet Money Fund Report Averages—All Taxable† | 0.01 | 0.05 | 2.59 | 2.17 | ‡ |
The returns in this report show past performance, which is no guarantee of future results. Returns and the principal value of your investment will fluctuate. 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-cref.org.
An investment in the Money Market Fund is neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund will attempt to maintain a stable net asset value of $1.00 per share, it is possible to lose money by investing in the fund. For a detailed discussion of risk, please see the prospectus.
† | The iMoneyNet Money Fund Report Averages—All Taxable category is a simple average of over 1,000 taxable money market funds. You cannot invest in it directly. |
‡ | The performance above is computed from August 2003 because the iMoneyNet return is calculated only on a monthly basis. |
TIAA-CREF Life Funds — 2010 Semiannual Report 29
MONEY MARKET FUND
EXPENSE EXAMPLE
Six months ended June 30, 2010
Money Market Fund | Starting fund value (1/1/10) | Ending fund value (6/30/10) | Expenses paid* (1/1/10– 6/30/10) | ||||||
Actual return | $ | 1,000.00 | $ | 1,000.74 | $ | 0.45 | |||
5% annual hypothetical return | 1,000.00 | 1,024.35 | 0.45 |
* | New advisory and other arrangements became effective May 1, 2010. Had these arrangements been in place for the entire six-month period, the fund’s annualized expense ratio for the period would have been 0.15%. In that case, the expenses paid, based on the fund’s actual return, would have been $0.74; and the expenses paid, based upon the 5% hypothetical return, would have been $ 0.75. “Expenses paid” is based on the fund’s actual expense ratio for the most recent fiscal half-year, multiplied by the average fund value over the six-month period, multiplied by 181/365. There were 181 days in the six months ended June 30, 2010. The fund’s annualized six-month expense ratio for that period was 0.09%. The expense charges reflect a reimbursement. Please see the prospectus for an explanation, including the date on which this reimbursement is scheduled to end. Without any such reimbursement, the expenses would have been higher and performance lower. |
For more information about this expense example, please see page 6.
PORTFOLIO COMPOSITION
% of net assets as of 6/30/2010 | ||
U.S. government & agency securities | 51.4 | |
Commercial paper | 24.4 | |
U.S. Treasury securities | 11.6 | |
Certificates of deposit | 6.4 | |
Bankers’ acceptances | 3.0 | |
Floating-rate securities, U.S. agency | 2.2 | |
Other assets & liabilities, net | 1.0 | |
Total | 100.0 |
30 2010 Semiannual Report — TIAA-CREF Life Funds
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
GROWTH EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
AMUSEMENT AND RECREATION SERVICES | ||||||||||||
19,250 | Walt Disney Co | $ | 606,375 | 2.0 | % | |||||||
606,375 | 2.0 | |||||||||||
APPAREL AND OTHER TEXTILE PRODUCTS | 256,746 | 0.8 | ||||||||||
BUILDING MATERIALS AND GARDEN SUPPLIES | ||||||||||||
17,060 | Lowe’s Cos, Inc | 348,365 | 1.1 | |||||||||
348,365 | 1.1 | |||||||||||
BUSINESS SERVICES | ||||||||||||
14,562 | * | Adobe Systems, Inc | 384,874 | 1.3 | ||||||||
15,689 | * | eBay, Inc | 307,661 | 1.0 | ||||||||
2,654 | * | Google, Inc (Class A) | 1,180,898 | 3.8 | ||||||||
28,690 | * | Intuit, Inc | 997,552 | 3.3 | ||||||||
38,075 | Microsoft Corp | 876,106 | 2.8 | |||||||||
12,406 | Omnicom Group, Inc | 425,526 | 1.3 | |||||||||
21,145 | * | Yahoo!, Inc | 292,435 | 1.0 | ||||||||
Other | 955,660 | 3.1 | ||||||||||
5,420,712 | 17.6 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS | ||||||||||||
14,494 | Avon Products, Inc | 384,091 | 1.3 | |||||||||
18,008 | * | Celgene Corp | 915,167 | 2.9 | ||||||||
12,786 | Dow Chemical Co | 303,284 | 1.0 | |||||||||
6,880 | Novartis AG. (ADR) | 332,442 | 1.1 | |||||||||
4,246 | Novo Nordisk A.S. (ADR) | 344,011 | 1.1 | |||||||||
7,531 | Shire plc (ADR) | 462,253 | 1.5 | |||||||||
6,161 | Teva Pharmaceutical Industries Ltd (ADR) | 320,310 | 1.0 | |||||||||
8,179 | * | Watson Pharmaceuticals, Inc | 331,822 | 1.1 | ||||||||
Other | 143,984 | 0.5 | ||||||||||
3,537,364 | 11.5 | |||||||||||
COMMUNICATIONS | 143,791 | 0.5 | ||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||
14,229 | Wells Fargo & Co | 364,262 | 1.2 | |||||||||
364,262 | 1.2 | |||||||||||
EATING AND DRINKING PLACES | ||||||||||||
9,907 | Yum! Brands, Inc | 386,769 | 1.3 | |||||||||
Other | 228,283 | 0.7 | ||||||||||
615,052 | 2.0 | |||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | ||||||||||||
11,016 | Analog Devices, Inc | 306,906 | 1.0 | |||||||||
7,421 | * | Apple Computer, Inc | 1,866,604 | 6.0 | ||||||||
62,809 | * | Cisco Systems, Inc | 1,338,460 | 4.3 | ||||||||
2,882 | * | First Solar, Inc | 328,058 | 1.1 | ||||||||
34,315 | Intel Corp | 667,427 | 2.2 | |||||||||
9,892 | * | NetApp, Inc | 369,071 | 1.2 | ||||||||
12,628 | Xilinx, Inc | 318,983 | 1.0 | |||||||||
5,195,509 | 16.8 | |||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 31 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
GROWTH EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
ENGINEERING AND MANAGEMENT SERVICES | ||||||||||||
8,198 | * | Jacobs Engineering Group, Inc | $ | 298,735 | 1.0 | % | ||||||
298,735 | 1.0 | |||||||||||
FABRICATED METAL PRODUCTS | 261,798 | 0.9 | ||||||||||
FOOD AND KINDRED PRODUCTS | ||||||||||||
17,377 | Dr Pepper Snapple Group, Inc | 649,726 | 2.1 | |||||||||
7,345 | Mead Johnson Nutrition Co | 368,131 | 1.2 | |||||||||
1,017,857 | 3.3 | |||||||||||
FURNITURE AND HOME FURNISHINGS STORES | 262,675 | 0.9 | ||||||||||
GENERAL MERCHANDISE STORES | ||||||||||||
16,788 | * | Dollar General Corp | 462,509 | 1.5 | ||||||||
462,509 | 1.5 | |||||||||||
HEALTH SERVICES | ||||||||||||
12,229 | * | Express Scripts, Inc | 575,008 | 1.9 | ||||||||
575,008 | 1.9 | |||||||||||
HOTELS AND OTHER LODGING PLACES | ||||||||||||
10,428 | Starwood Hotels & Resorts Worldwide, Inc | 432,032 | 1.5 | |||||||||
Other | 75,043 | 0.2 | ||||||||||
507,075 | 1.7 | |||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | ||||||||||||
6,582 | Deere & Co | 366,486 | 1.2 | |||||||||
14,273 | Emerson Electric Co | 623,587 | 2.0 | |||||||||
23,279 | Johnson Controls, Inc | 625,507 | 2.1 | |||||||||
1,615,580 | 5.3 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS | ||||||||||||
6,060 | Allergan, Inc | 353,056 | 1.2 | |||||||||
16,890 | Danaher Corp | 626,956 | 2.1 | |||||||||
5,689 | * | Edwards Lifesciences Corp | 318,698 | 1.0 | ||||||||
1,474 | * | Intuitive Surgical, Inc | 465,224 | 1.5 | ||||||||
13,007 | * | Life Technologies Corp | 614,580 | 2.0 | ||||||||
5,958 | Roper Industries, Inc | 333,410 | 1.1 | |||||||||
11,350 | * | Thermo Electron Corp | 556,717 | 1.8 | ||||||||
Other | 813,747 | 2.6 | ||||||||||
4,082,388 | 13.3 | |||||||||||
INSURANCE CARRIERS | ||||||||||||
7,720 | Aflac, Inc | 329,412 | 1.1 | |||||||||
329,412 | 1.1 | |||||||||||
LEATHER AND LEATHER PRODUCTS | 235,053 | 0.8 | ||||||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES | 251,327 | 0.8 | ||||||||||
MISCELLANEOUS RETAIL | ||||||||||||
4,532 | * | Amazon.com, Inc | 495,166 | 1.6 | ||||||||
495,166 | 1.6 | |||||||||||
32 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
GROWTH EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
MOTION PICTURES | ||||||||||||
10,465 | * | Discovery Communications, Inc (Class A) | $ | 373,705 | 1.2 | % | ||||||
373,705 | 1.2 | |||||||||||
OIL AND GAS EXTRACTION | ||||||||||||
10,094 | National Oilwell Varco, Inc | 333,809 | 1.1 | |||||||||
8,355 | Occidental Petroleum Corp | 644,588 | 2.1 | |||||||||
Other | 426,734 | 1.4 | ||||||||||
1,405,131 | 4.6 | |||||||||||
PETROLEUM AND COAL PRODUCTS | 86,955 | 0.3 | ||||||||||
PRIMARY METAL INDUSTRIES | ||||||||||||
3,095 | Precision Castparts Corp | 318,537 | 1.0 | |||||||||
318,537 | 1.0 | |||||||||||
SECURITY AND COMMODITY BROKERS | 436,483 | 1.4 | ||||||||||
TRANSPORTATION EQUIPMENT | ||||||||||||
12,002 | Boeing Co | 753,126 | 2.5 | |||||||||
753,126 | 2.5 | |||||||||||
TRUCKING AND WAREHOUSING | ||||||||||||
5,582 | United Parcel Service, Inc (Class B) | 317,560 | 1.0 | |||||||||
317,560 | 1.0 | |||||||||||
TOTAL COMMON STOCKS | (Cost $31,714,568) | 30,574,256 | 99.6 | |||||||||
TOTAL PORTFOLIO | (Cost $31,714,568) | 30,574,256 | 99.6 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 108,789 | 0.4 | ||||||||||
NET ASSETS | $ | 30,683,045 | 100.0 | % | ||||||||
Abbreviation(s):
ADR American Depositary Receipt
* | Non-income producing. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 33 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
GROWTH & INCOME FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
AMUSEMENT AND RECREATION SERVICES | ||||||||||||
22,593 | Walt Disney Co | $ | 711,680 | 1.2 | % | |||||||
711,680 | 1.2 | |||||||||||
APPAREL AND ACCESSORY STORES | 805,218 | 1.3 | ||||||||||
APPAREL AND OTHER TEXTILE PRODUCTS | 174,820 | 0.3 | ||||||||||
BUILDING MATERIALS AND GARDEN SUPPLIES | ||||||||||||
15,864 | Home Depot, Inc | 445,302 | 0.7 | |||||||||
445,302 | 0.7 | |||||||||||
BUSINESS SERVICES | ||||||||||||
2,005 | * | Google, Inc (Class A) | 892,125 | 1.5 | ||||||||
61,322 | Microsoft Corp | 1,411,020 | 2.3 | |||||||||
28,268 | Oracle Corp | 606,631 | 1.0 | |||||||||
Other | 1,777,383 | 3.0 | ||||||||||
4,687,159 | 7.8 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS | ||||||||||||
24,899 | Bristol-Myers Squibb Co | 620,981 | 1.0 | |||||||||
14,878 | Du Pont (E.I.) de Nemours & Co | 514,630 | 0.9 | |||||||||
20,090 | Merck & Co, Inc | 702,547 | 1.2 | |||||||||
10,709 | Novartis AG. (ADR) | 517,459 | 0.9 | |||||||||
67,112 | Pfizer, Inc | 957,017 | 1.6 | |||||||||
24,981 | Procter & Gamble Co | 1,498,359 | 2.6 | |||||||||
10,181 | * | Watson Pharmaceuticals, Inc | 413,043 | 0.7 | ||||||||
Other | 2,886,411 | 4.7 | ||||||||||
8,110,447 | 13.6 | |||||||||||
COMMUNICATIONS | ||||||||||||
34,340 | Verizon Communications, Inc | 962,206 | 1.6 | |||||||||
Other | 978,643 | 1.6 | ||||||||||
1,940,849 | 3.2 | |||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||
64,973 | Bank of America Corp | 933,662 | 1.6 | |||||||||
192,940 | * | Citigroup, Inc | 725,454 | 1.2 | ||||||||
25,712 | JPMorgan Chase & Co | 941,316 | 1.6 | |||||||||
26,002 | US Bancorp | 581,145 | 1.0 | |||||||||
44,055 | Wells Fargo & Co | 1,127,808 | 1.8 | |||||||||
Other | 940,528 | 1.6 | ||||||||||
5,249,913 | 8.8 | |||||||||||
EATING AND DRINKING PLACES | ||||||||||||
7,348 | McDonald’s Corp | 484,013 | 0.8 | |||||||||
Other | 319,634 | 0.5 | ||||||||||
803,647 | 1.3 | |||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES | ||||||||||||
9,100 | FPL Group, Inc | 443,716 | 0.7 | |||||||||
10,230 | PG&E Corp | 420,453 | 0.7 |
34 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
GROWTH & INCOME FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
ELECTRIC, GAS, AND SANITARY SERVICES — continued | ||||||||||||
6,284 | * | Stericycle, Inc | $ | 412,105 | 0.7 | % | ||||||
Other | 1,319,040 | 2.2 | ||||||||||
2,595,314 | 4.3 | |||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | ||||||||||||
7,215 | * | Apple Computer, Inc | 1,814,790 | 3.0 | ||||||||
38,650 | * | Cisco Systems, Inc | 823,632 | 1.4 | ||||||||
22,526 | Hewlett-Packard Co | 974,925 | 1.6 | |||||||||
36,181 | Intel Corp | 703,720 | 1.2 | |||||||||
9,491 | * | SanDisk Corp | 399,286 | 0.7 | ||||||||
Other | 706,754 | 1.2 | ||||||||||
5,423,107 | 9.1 | |||||||||||
ENGINEERING AND MANAGEMENT SERVICES | 358,391 | 0.6 | ||||||||||
FABRICATED METAL PRODUCTS | 294,228 | 0.5 | ||||||||||
FOOD AND KINDRED PRODUCTS | ||||||||||||
14,856 | Coca-Cola Co | 744,582 | 1.3 | |||||||||
8,310 | PepsiCo, Inc | 506,495 | 0.8 | |||||||||
Other | 2,296,292 | 3.8 | ||||||||||
3,547,369 | 5.9 | |||||||||||
FOOD STORES | 228,475 | 0.4 | ||||||||||
GENERAL MERCHANDISE STORES | ||||||||||||
12,310 | Wal-Mart Stores, Inc | 591,741 | 1.0 | |||||||||
Other | 309,968 | 0.5 | ||||||||||
901,709 | 1.5 | |||||||||||
HEALTH SERVICES | 937,478 | 1.6 | ||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | 89,080 | 0.1 | ||||||||||
HOTELS AND OTHER LODGING PLACES | 109,446 | 0.2 | ||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | ||||||||||||
6,795 | 3M Co | 536,737 | 0.9 | |||||||||
74,941 | General Electric Co | 1,080,650 | 1.9 | |||||||||
8,431 | International Business Machines Corp | 1,041,060 | 1.7 | |||||||||
11,502 | Tyco International Ltd | 405,215 | 0.7 | |||||||||
Other | 1,960,346 | 3.2 | ||||||||||
5,024,008 | 8.4 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS | 1,324,588 | 2.2 | ||||||||||
INSURANCE CARRIERS | ||||||||||||
9,520 | ACE Ltd | 490,090 | 0.8 | |||||||||
13,706 | Cigna Corp | 425,708 | 0.7 | |||||||||
10,257 | Prudential Financial, Inc | 550,391 | 0.9 | |||||||||
Other | 622,504 | 1.1 | ||||||||||
2,088,693 | 3.5 | |||||||||||
METAL MINING | 373,889 | 0.6 | ||||||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES | 542,454 | 0.9 | ||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 35 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
GROWTH & INCOME FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
MISCELLANEOUS RETAIL | ||||||||||||
4,034 | * | Amazon.com, Inc | $ | 440,755 | 0.7 | % | ||||||
440,755 | 0.7 | |||||||||||
MOTION PICTURES | ||||||||||||
15,985 | * | Discovery Communications, Inc (Class A) | 570,824 | 1.0 | ||||||||
12,343 | Viacom, Inc (Class B) | 387,200 | 0.6 | |||||||||
958,024 | 1.6 | |||||||||||
NONDEPOSITORY INSTITUTIONS | 158,240 | 0.3 | ||||||||||
OIL AND GAS EXTRACTION | ||||||||||||
17,148 | Halliburton Co | 420,983 | 0.7 | |||||||||
8,453 | * | Newfield Exploration Co | 413,014 | 0.7 | ||||||||
10,521 | Occidental Petroleum Corp | 811,695 | 1.4 | |||||||||
Other | 274,368 | 0.4 | ||||||||||
1,920,060 | 3.2 | |||||||||||
PETROLEUM AND COAL PRODUCTS | ||||||||||||
13,803 | Chevron Corp | 936,672 | 1.6 | |||||||||
33,671 | Exxon Mobil Corp | 1,921,604 | 3.2 | |||||||||
Other | 541,572 | 0.9 | ||||||||||
3,399,848 | 5.7 | |||||||||||
PRIMARY METAL INDUSTRIES | 201,209 | 0.3 | ||||||||||
RAILROAD TRANSPORTATION | ||||||||||||
6,583 | Union Pacific Corp | 457,584 | 0.8 | |||||||||
457,584 | 0.8 | |||||||||||
SECURITY AND COMMODITY BROKERS | 1,126,435 | 1.9 | ||||||||||
TOBACCO PRODUCTS | ||||||||||||
10,250 | Philip Morris International, Inc | 469,860 | 0.8 | |||||||||
Other | 283,457 | 0.5 | ||||||||||
753,317 | 1.3 | |||||||||||
TRANSPORTATION BY AIR | 406,655 | 0.7 | ||||||||||
TRANSPORTATION EQUIPMENT | ||||||||||||
8,457 | Goodrich Corp | 560,276 | 0.9 | |||||||||
15,026 | Honeywell International, Inc | 586,465 | 1.0 | |||||||||
Other | 967,536 | 1.6 | ||||||||||
2,114,277 | 3.5 | |||||||||||
TRUCKING AND WAREHOUSING | ||||||||||||
14,554 | United Parcel Service, Inc (Class B) | 827,977 | 1.4 | |||||||||
827,977 | 1.4 | |||||||||||
WHOLESALE TRADE-NONDURABLE GOODS | 114,440 | 0.2 | ||||||||||
TOTAL COMMON STOCKS | (Cost $63,601,859) | 59,646,085 | 99.6 | |||||||||
TOTAL PORTFOLIO | (Cost $63,601,859) | 59,646,085 | 99.6 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 235,275 | 0.4 | ||||||||||
NET ASSETS | $ | 59,881,360 | 100.0 | % | ||||||||
36 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
GROWTH & INCOME FUND n JUNE 30, 2010
Abbreviation(s):
ADR American Depositary Receipt
* | Non-income producing. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 37 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
INTERNATIONAL EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
BUSINESS SERVICES | ||||||||||||
91,282 | Adecco S.A. | $ | 4,354,771 | 5.3 | % | |||||||
52,708 | * | Autonomy Corp plc | 1,436,734 | 1.8 | ||||||||
10,830 | Mitsubishi UFJ Lease & Finance Co Ltd | 365,321 | 0.4 | |||||||||
42,129 | Playtech Ltd | 286,422 | 0.4 | |||||||||
6,443,248 | 7.9 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS | ||||||||||||
3,717 | Givaudan S.A. | 3,156,969 | 3.9 | |||||||||
80,600 | Henkel KGaA (Preference) | 3,935,755 | 4.8 | |||||||||
193,750 | * | L’ Occitane International SA | 422,488 | 0.5 | ||||||||
145,360 | Lanxess AG. | 6,118,407 | 7.5 | |||||||||
24,269 | Reckitt Benckiser Group plc | 1,128,857 | 1.4 | |||||||||
Other | 272,482 | 0.4 | ||||||||||
15,034,958 | 18.5 | |||||||||||
COMMUNICATIONS | ||||||||||||
5,500 | Nippon Telegraph & Telephone Corp | 224,047 | 0.3 | |||||||||
224,047 | 0.3 | |||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||
329,800 | Bank Rakyat Indonesia | 334,832 | 0.4 | |||||||||
30,703 | HDFC Bank Ltd | 1,260,908 | 1.6 | |||||||||
222,400 | Mitsubishi UFJ Financial Group, Inc | 1,009,853 | 1.3 | |||||||||
11,500 | Sumitomo Mitsui Financial Group, Inc | 325,477 | 0.4 | |||||||||
Other | 86,104 | 0.0 | ||||||||||
3,017,174 | 3.7 | |||||||||||
EDUCATIONAL SERVICES | 4,552 | 0.0 | ||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES | ||||||||||||
70,996 | Fortum Oyj | 1,558,411 | 1.9 | |||||||||
1,558,411 | 1.9 | |||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | ||||||||||||
267,150 | Hon Hai Precision Industry Co, Ltd | 936,407 | 1.2 | |||||||||
42,000 | Mitsubishi Electric Corp | 327,806 | 0.4 | |||||||||
212,132 | Smiths Group plc | 3,377,317 | 4.1 | |||||||||
Other | 275,202 | 0.3 | ||||||||||
4,916,732 | 6.0 | |||||||||||
ENGINEERING AND MANAGEMENT SERVICES | ||||||||||||
32,417 | Tecan Group AG. | 2,063,963 | 2.5 | |||||||||
2,063,963 | 2.5 | |||||||||||
FOOD AND KINDRED PRODUCTS | ||||||||||||
32,382 | InBev NV | 1,556,966 | 1.9 | |||||||||
10,000 | Toyo Suisan Kaisha Ltd | 238,676 | 0.3 | |||||||||
1,795,642 | 2.2 | |||||||||||
38 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
INTERNATIONAL EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
GENERAL MERCHANDISE STORES | ||||||||||||
9,400 | Ryohin Keikaku Co Ltd | $ | 373,670 | 0.5 | % | |||||||
373,670 | 0.5 | |||||||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING | ||||||||||||
17,474 | Saipem S.p.A. | 532,227 | 0.7 | |||||||||
532,227 | 0.7 | |||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | ||||||||||||
35,971 | Westfield Group | 365,529 | 0.4 | |||||||||
365,529 | 0.4 | |||||||||||
HOTELS AND OTHER LODGING PLACES | ||||||||||||
2,397,600 | *f | Sands China Ltd | 3,543,604 | 4.4 | ||||||||
3,543,604 | 4.4 | |||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | ||||||||||||
118,929 | Alfa Laval AB | 1,544,453 | 1.9 | |||||||||
4,680 | Burckhardt Compression Holding AG. | 824,306 | 1.0 | |||||||||
177,000 | * | NTN Corp | 724,580 | 0.9 | ||||||||
29,220 | Rheinmetall AG. | 1,668,961 | 2.1 | |||||||||
123,637 | SKF AB (B Shares) | 2,218,935 | 2.8 | |||||||||
Other | 408,019 | 0.5 | ||||||||||
7,389,254 | 9.2 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS | ||||||||||||
10,166 | Phonak Holding AG. | 1,247,546 | 1.5 | |||||||||
Other | 47,890 | 0.1 | ||||||||||
1,295,436 | 1.6 | |||||||||||
INSURANCE AGENTS, BROKERS AND SERVICE | 28,919 | 0.0 | ||||||||||
INSURANCE CARRIERS | 22,451 | 0.0 | ||||||||||
METAL MINING | ||||||||||||
23,918 | * | Anglo American plc | 833,427 | 1.0 | ||||||||
4,302 | Rio Tinto Ltd | 236,586 | 0.3 | |||||||||
Other | 48,438 | 0.1 | ||||||||||
1,118,451 | 1.4 | |||||||||||
MISCELLANEOUS RETAIL | 160,379 | 0.2 | ||||||||||
NONDEPOSITORY INSTITUTIONS | ||||||||||||
4,471 | ORIX Corp | 323,901 | 0.4 | |||||||||
323,901 | 0.4 | |||||||||||
OIL AND GAS EXTRACTION | ||||||||||||
541,000 | CNOOC Ltd | 919,525 | 1.1 | |||||||||
69,478 | Tullow Oil plc | 1,033,507 | 1.3 | |||||||||
1,953,032 | 2.4 | |||||||||||
PAPER AND ALLIED PRODUCTS | ||||||||||||
1,426,600 | Nine Dragons Paper Holdings Ltd | 1,921,945 | 2.4 | |||||||||
1,921,945 | 2.4 | |||||||||||
PETROLEUM AND COAL PRODUCTS | 86,675 | 0.1 | ||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 39 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
INTERNATIONAL EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
PRIMARY METAL INDUSTRIES | $ | 105,132 | 0.1 | % | ||||||||
RAILROAD TRANSPORTATION | 107,339 | 0.1 | ||||||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | ||||||||||||
26,308 | Bayer AG. | 1,470,128 | 1.8 | |||||||||
105,703 | SSL International plc | 1,272,941 | 1.6 | |||||||||
Other | 79,399 | 0.1 | ||||||||||
2,822,468 | 3.5 | |||||||||||
SECURITY AND COMMODITY BROKERS | ||||||||||||
25,505 | Credit Suisse Group | 958,917 | 1.2 | |||||||||
51,533 | Deutsche Boerse AG. | 3,130,808 | 3.8 | |||||||||
708,410 | ICAP plc | 4,246,014 | 5.2 | |||||||||
Other | 62,830 | 0.1 | ||||||||||
8,398,569 | 10.3 | |||||||||||
TEXTILE MILL PRODUCTS | ||||||||||||
367,000 | Teijin Ltd | 1,089,608 | 1.3 | |||||||||
1,089,608 | 1.3 | |||||||||||
TOBACCO PRODUCTS | ||||||||||||
88,326 | Imperial Tobacco Group plc | 2,467,889 | 3.0 | |||||||||
2,467,889 | 3.0 | |||||||||||
TRANSPORTATION EQUIPMENT | ||||||||||||
830,000 | China South Locomotive and Rolling Stock Corp | 567,413 | 0.7 | |||||||||
14,100 | Honda Motor Co Ltd | 414,157 | 0.5 | |||||||||
79,900 | * | Yamaha Motor Co Ltd | 1,056,296 | 1.3 | ||||||||
Other | 61,358 | 0.1 | ||||||||||
2,099,224 | 2.6 | |||||||||||
WATER TRANSPORTATION | 52,893 | 0.1 | ||||||||||
WHOLESALE TRADE-DURABLE GOODS | ||||||||||||
106,554 | Assa Abloy AB (Class B) | 2,129,793 | 2.6 | |||||||||
1,092,000 | Li & Fung Ltd | 4,885,581 | 5.9 | |||||||||
27,031 | * | Wolseley plc | 536,562 | 0.7 | ||||||||
Other | 334,879 | 0.5 | ||||||||||
7,886,815 | 9.7 | |||||||||||
TOTAL COMMON STOCKS | (Cost $84,298,483) | 79,204,137 | 97.3 | |||||||||
TOTAL PORTFOLIO | (Cost $84,298,483) | 79,204,137 | 97.3 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 2,184,396 | 2.7 | ||||||||||
NET ASSETS | $ | 81,388,533 | 100.0 | % | ||||||||
* | Non-income producing. |
f | Restricted security. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
40 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY OF MARKET VALUES BY COUNTRY (UNAUDITED)
INTERNATIONAL EQUITY FUND n JUNE 30, 2010
Country | Value | % of total portfolio | ||||
FOREIGN | ||||||
AUSTRALIA | $ | 651,343 | 0.8 | % | ||
BELGIUM | 1,556,966 | 2.0 | ||||
CHINA | 3,408,883 | 4.3 | ||||
FINLAND | 1,558,411 | 2.0 | ||||
FRANCE | 37,105 | 0.0 | ||||
GERMANY | 16,324,059 | 20.6 | ||||
HONG KONG | 4,885,581 | 6.2 | ||||
INDIA | 1,260,908 | 1.6 | ||||
INDONESIA | 334,832 | 0.4 | ||||
ITALY | 532,227 | 0.7 | ||||
JAPAN | 8,552,556 | 10.8 | ||||
LUXEMBOURG | 422,488 | 0.5 | ||||
MACAU | 3,543,604 | 4.5 | ||||
NETHERLANDS | 79,444 | 0.1 | ||||
SWEDEN | 5,893,181 | 7.4 | ||||
SWITZERLAND | 12,606,472 | 15.9 | ||||
TAIWAN | 936,407 | 1.2 | ||||
UNITED KINGDOM | 16,619,670 | 21.0 | ||||
TOTAL FOREIGN | 79,204,137 | 100.0 | ||||
TOTAL PORTFOLIO | $ | 79,204,137 | 100.0 | % | ||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 41 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
LARGE-CAP VALUE FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
AMUSEMENT AND RECREATION SERVICES | ||||||||||||
9,956 | Walt Disney Co | $ | 313,614 | 0.6 | % | |||||||
Other | 225,410 | 0.4 | ||||||||||
539,024 | 1.0 | |||||||||||
APPAREL AND ACCESSORY STORES | 195,075 | 0.4 | ||||||||||
APPAREL AND OTHER TEXTILE PRODUCTS | 663 | 0.0 | ||||||||||
BUILDING MATERIALS AND GARDEN SUPPLIES | ||||||||||||
16,005 | Lowe’s Cos, Inc | 326,822 | 0.6 | |||||||||
326,822 | 0.6 | |||||||||||
BUSINESS SERVICES | ||||||||||||
23,114 | * | eBay, Inc | 453,266 | 0.9 | ||||||||
Other | 890,290 | 1.7 | ||||||||||
1,343,556 | 2.6 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS | ||||||||||||
17,232 | * | Amgen, Inc | 906,403 | 1.8 | ||||||||
25,153 | Bristol-Myers Squibb Co | 627,316 | 1.2 | |||||||||
32,961 | Merck & Co, Inc | 1,152,646 | 2.2 | |||||||||
6,427 | Novartis AG. (ADR) | 310,553 | 0.6 | |||||||||
84,245 | Pfizer, Inc | 1,201,334 | 2.4 | |||||||||
26,901 | Procter & Gamble Co | 1,613,521 | 3.2 | |||||||||
10,465 | * | Watson Pharmaceuticals, Inc | 424,565 | 0.8 | ||||||||
Other | 2,614,149 | 5.1 | ||||||||||
8,850,487 | 17.3 | |||||||||||
COMMUNICATIONS | ||||||||||||
15,952 | * | AOL, Inc | 331,642 | 0.6 | ||||||||
38,040 | AT&T, Inc | 920,188 | 1.8 | |||||||||
22,429 | Comcast Corp (Class A) | 389,592 | 0.8 | |||||||||
92,572 | * | Sprint Nextel Corp | 392,505 | 0.8 | ||||||||
32,942 | Verizon Communications, Inc | 923,034 | 1.7 | |||||||||
Other | 1,025,824 | 2.1 | ||||||||||
3,982,785 | 7.8 | |||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||
78,747 | Bank of America Corp | 1,131,595 | 2.2 | |||||||||
263,556 | * | Citigroup, Inc | 990,971 | 1.9 | ||||||||
77,709 | Huntington Bancshares, Inc | 430,508 | 0.8 | |||||||||
21,327 | JPMorgan Chase & Co | 780,781 | 1.5 | |||||||||
13,410 | State Street Corp | 453,526 | 0.9 | |||||||||
41,802 | US Bancorp | 934,275 | 1.8 | |||||||||
59,482 | Wells Fargo & Co | �� | 1,522,740 | 3.0 | ||||||||
Other | 986,258 | 2.0 | ||||||||||
7,230,654 | 14.1 | |||||||||||
EDUCATIONAL SERVICES | 170,155 | 0.3 | ||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES | ||||||||||||
7,483 | FPL Group, Inc | 364,871 | 0.7 |
42 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
LARGE-CAP VALUE FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
ELECTRIC, GAS, AND SANITARY SERVICES — continued | ||||||||||||
9,996 | Public Service Enterprise Group, Inc | $ | 313,175 | 0.6 | % | |||||||
Other | 2,246,578 | 4.4 | ||||||||||
2,924,624 | 5.7 | |||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | ||||||||||||
16,160 | Intel Corp | 314,312 | 0.6 | |||||||||
Other | 1,389,862 | 2.7 | ||||||||||
1,704,174 | 3.3 | |||||||||||
ENGINEERING AND MANAGEMENT SERVICES | 317,158 | 0.6 | ||||||||||
FOOD AND KINDRED PRODUCTS | ||||||||||||
12,873 | Coca-Cola Co | 645,195 | 1.3 | |||||||||
9,952 | General Mills, Inc | 353,495 | 0.7 | |||||||||
32,458 | Kraft Foods, Inc (Class A) | 908,824 | 1.7 | |||||||||
Other | 412,296 | 0.8 | ||||||||||
2,319,810 | 4.5 | |||||||||||
FOOD STORES | 106,838 | 0.2 | ||||||||||
FORESTRY | 121,891 | 0.2 | ||||||||||
FURNITURE AND FIXTURES | 114,895 | 0.2 | ||||||||||
GENERAL MERCHANDISE STORES | 319,265 | 0.6 | ||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | 796,378 | 1.5 | ||||||||||
HOTELS AND OTHER LODGING PLACES | 140,243 | 0.3 | ||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | ||||||||||||
95,312 | General Electric Co | 1,374,398 | 2.6 | |||||||||
20,279 | Textron, Inc | 344,135 | 0.7 | |||||||||
62,047 | Xerox Corp | 498,858 | 1.0 | |||||||||
Other | 919,486 | 1.8 | ||||||||||
3,136,877 | 6.1 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS | ||||||||||||
76,620 | * | Boston Scientific Corp | 444,396 | 0.9 | ||||||||
11,204 | Danaher Corp | 415,892 | 0.8 | |||||||||
7,531 | * | Life Technologies Corp | 355,840 | 0.7 | ||||||||
Other | 180,557 | 0.3 | ||||||||||
1,396,685 | 2.7 | |||||||||||
INSURANCE CARRIERS | ||||||||||||
9,030 | ACE Ltd | 464,864 | 0.9 | |||||||||
12,695 | Metlife, Inc | 479,363 | 0.9 | |||||||||
7,503 | Prudential Financial, Inc | 402,611 | 0.8 | |||||||||
7,813 | Travelers Cos, Inc | 384,790 | 0.7 | |||||||||
25,467 | UnitedHealth Group, Inc | 723,264 | 1.5 | |||||||||
Other | 1,017,433 | 2.0 | ||||||||||
3,472,325 | 6.8 | |||||||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES | 368,424 | 0.7 | ||||||||||
MISCELLANEOUS RETAIL | 291,089 | 0.6 | ||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 43 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
LARGE-CAP VALUE FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
MOTION PICTURES | $ | 380,607 | 0.7 | % | ||||||||
NONDEPOSITORY INSTITUTIONS | 612,507 | 1.2 | ||||||||||
OIL AND GAS EXTRACTION | ||||||||||||
9,951 | Occidental Petroleum Corp | 767,719 | 1.5 | |||||||||
34,964 | * | Weatherford International Ltd | 459,427 | 0.9 | ||||||||
Other | 1,804,010 | 3.5 | ||||||||||
3,031,156 | 5.9 | |||||||||||
PAPER AND ALLIED PRODUCTS | ||||||||||||
11,841 | Sonoco Products Co | 360,914 | 0.7 | |||||||||
360,914 | 0.7 | |||||||||||
PETROLEUM AND COAL PRODUCTS | ||||||||||||
12,859 | Chevron Corp | 872,612 | 1.7 | |||||||||
17,824 | Marathon Oil Corp | 554,148 | 1.1 | |||||||||
7,793 | Walter Industries, Inc | 474,204 | 0.9 | |||||||||
Other | 158,608 | 0.3 | ||||||||||
2,059,572 | 4.0 | |||||||||||
PIPELINES, EXCEPT NATURAL GAS | 7,988 | 0.0 | ||||||||||
PRIMARY METAL INDUSTRIES | 95,609 | 0.2 | ||||||||||
REAL ESTATE | 21,540 | 0.0 | ||||||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 154,314 | 0.3 | ||||||||||
SECURITY AND COMMODITY BROKERS | ||||||||||||
4,839 | Goldman Sachs Group, Inc | 635,215 | 1.1 | |||||||||
14,696 | Morgan Stanley | 341,094 | 0.7 | |||||||||
Other | 541,015 | 1.1 | ||||||||||
1,517,324 | 2.9 | |||||||||||
STONE, CLAY, AND GLASS PRODUCTS | 85,805 | 0.2 | ||||||||||
TOBACCO PRODUCTS | ||||||||||||
21,771 | Altria Group, Inc | 436,291 | 0.8 | |||||||||
436,291 | 0.8 | |||||||||||
TRANSPORTATION BY AIR | 365,435 | 0.7 | ||||||||||
TRANSPORTATION EQUIPMENT | ||||||||||||
44,505 | * | American Axle & Manufacturing Holdings, Inc | 326,221 | 0.6 | ||||||||
9,493 | Honeywell International, Inc | 370,511 | 0.7 | |||||||||
Other | 1,108,811 | 2.2 | ||||||||||
1,805,543 | 3.5 | |||||||||||
TRANSPORTATION SERVICES | 245,644 | 0.5 | ||||||||||
TRUCKING AND WAREHOUSING | 162,078 | 0.3 | ||||||||||
TOTAL COMMON STOCKS | (Cost $57,586,394) | 51,512,224 | 100.0 | |||||||||
TOTAL PORTFOLIO | (Cost $57,586,394) | 51,512,224 | 100.0 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 11,840 | 0.0 | ||||||||||
NET ASSETS | $ | 51,524,064 | 100.0 | % | ||||||||
44 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
LARGE-CAP VALUE FUND n JUNE 30, 2010
Abbreviation(s):
ADR American Depositary Receipt
* | Non-income producing. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 45 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
SMALL-CAP EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
AGRICULTURAL PRODUCTION-CROPS | $ | 48,357 | 0.1 | % | ||||||||
AGRICULTURAL PRODUCTION-LIVESTOCK | 60,872 | 0.1 | ||||||||||
AMUSEMENT AND RECREATION SERVICES | 91,415 | 0.2 | ||||||||||
APPAREL AND ACCESSORY STORES | ||||||||||||
7,650 | * | DSW, Inc (Class A) | 171,820 | 0.4 | ||||||||
Other | 852,101 | 1.9 | ||||||||||
1,023,921 | 2.3 | |||||||||||
APPAREL AND OTHER TEXTILE PRODUCTS | 309,317 | 0.7 | ||||||||||
AUTO REPAIR, SERVICES AND PARKING | 134,179 | 0.3 | ||||||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS | 99,827 | 0.2 | ||||||||||
BUSINESS SERVICES | ||||||||||||
9,654 | * | Commvault Systems, Inc | 217,214 | 0.6 | ||||||||
9,286 | * | Quest Software, Inc | 167,518 | 0.4 | ||||||||
9,056 | * | Unisys Corp | 167,444 | 0.4 | ||||||||
Other | 3,130,801 | 7.0 | ||||||||||
3,682,977 | 8.4 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS | ||||||||||||
6,100 | * | Acorda Therapeutics, Inc | 189,770 | 0.5 | ||||||||
7,903 | Medicis Pharmaceutical Corp (Class A) | 172,917 | 0.5 | |||||||||
2,662 | Stepan Co | 182,160 | 0.5 | |||||||||
7,900 | * | WR Grace & Co | 166,215 | 0.5 | ||||||||
Other | 2,782,565 | 6.0 | ||||||||||
3,493,627 | 8.0 | |||||||||||
COAL MINING | 136,452 | 0.3 | ||||||||||
COMMUNICATIONS | ||||||||||||
4,111 | * | Anixter International, Inc | 175,129 | 0.3 | ||||||||
Other | 595,486 | 1.4 | ||||||||||
770,615 | 1.7 | |||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||
12,062 | East West Bancorp, Inc | 183,946 | 0.5 | |||||||||
Other | 2,849,973 | 6.5 | ||||||||||
3,033,919 | 7.0 | |||||||||||
EATING AND DRINKING PLACES | 855,799 | 1.9 | ||||||||||
EDUCATIONAL SERVICES | 439,516 | 1.0 | ||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES | ||||||||||||
9,764 | Avista Corp | 190,691 | 0.4 | |||||||||
7,553 | Black Hills Corp | 215,034 | 0.5 | |||||||||
6,200 | Idacorp, Inc | 206,274 | 0.5 | |||||||||
5,490 | Nicor, Inc | 222,345 | 0.5 | |||||||||
6,240 | Southwest Gas Corp | 184,080 | 0.4 | |||||||||
7,234 | WGL Holdings, Inc | 246,173 | 0.6 | |||||||||
Other | 587,905 | 1.3 | ||||||||||
1,852,502 | 4.2 | |||||||||||
46 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
SMALL-CAP EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | ||||||||||||
23,322 | * | Arris Group, Inc | $ | 237,651 | 0.6 | % | ||||||
7,211 | * | InterDigital, Inc | 178,040 | 0.5 | ||||||||
46,430 | * | Lattice Semiconductor Corp | 201,506 | 0.6 | ||||||||
8,159 | Plantronics, Inc | 233,347 | 0.6 | |||||||||
3,169 | Regal-Beloit Corp | 176,767 | 0.5 | |||||||||
43,634 | * | RF Micro Devices, Inc | 170,609 | 0.4 | ||||||||
Other | 2,721,962 | 5.8 | ||||||||||
3,919,882 | 9.0 | |||||||||||
ENGINEERING AND MANAGEMENT SERVICES | ||||||||||||
3,510 | MAXIMUS, Inc | 203,123 | 0.6 | |||||||||
8,954 | * | Tetra Tech, Inc | 175,587 | 0.5 | ||||||||
Other | 520,171 | 0.9 | ||||||||||
898,881 | 2.0 | |||||||||||
FABRICATED METAL PRODUCTS | 418,565 | 0.9 | ||||||||||
FOOD AND KINDRED PRODUCTS | ||||||||||||
3,970 | Sanderson Farms, Inc | 201,439 | 0.5 | |||||||||
Other | 412,763 | 0.9 | ||||||||||
614,202 | 1.4 | |||||||||||
FOOD STORES | 236,178 | 0.5 | ||||||||||
FURNITURE AND FIXTURES | 106,200 | 0.2 | ||||||||||
FURNITURE AND HOME FURNISHINGS STORES | 3,591 | 0.0 | ||||||||||
GENERAL BUILDING CONTRACTORS | 172,841 | 0.4 | ||||||||||
GENERAL MERCHANDISE STORES | 161,420 | 0.4 | ||||||||||
HEALTH SERVICES | 535,820 | 1.2 | ||||||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING | 113,937 | 0.3 | ||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | ||||||||||||
4,290 | Equity Lifestyle Properties, Inc | 206,906 | 0.6 | |||||||||
8,158 | Highwoods Properties, Inc | 226,465 | 0.6 | |||||||||
3,290 | Mid-America Apartment Communities, Inc | 169,336 | 0.4 | |||||||||
10,207 | Omega Healthcare Investors, Inc | 203,426 | 0.6 | |||||||||
3,002 | PS Business Parks, Inc | 167,452 | 0.4 | |||||||||
Other | 2,030,803 | 4.2 | ||||||||||
3,004,388 | 6.8 | |||||||||||
HOTELS AND OTHER LODGING PLACES | 51,245 | 0.1 | ||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | ||||||||||||
1,917 | Nacco Industries, Inc (Class A) | 170,153 | 0.3 | |||||||||
9,030 | * | VeriFone Holdings, Inc | 170,938 | 0.3 | ||||||||
Other | 1,400,667 | 3.3 | ||||||||||
1,741,758 | 3.9 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS | ||||||||||||
5,284 | * | Fossil, Inc | 183,355 | 0.5 | ||||||||
3,390 | * | Haemonetics Corp | 181,433 | 0.4 |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 47 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
SMALL-CAP EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
INSTRUMENTS AND RELATED PRODUCTS — continued | ||||||||||||
5,520 | STERIS Corp | $ | 171,562 | 0.4 | % | |||||||
5,374 | * | Veeco Instruments, Inc | 184,221 | 0.5 | ||||||||
Other | 1,764,928 | 3.8 | ||||||||||
2,485,499 | 5.6 | |||||||||||
INSURANCE AGENTS, BROKERS AND SERVICE | 54,258 | 0.1 | ||||||||||
INSURANCE CARRIERS | ||||||||||||
13,200 | Montpelier Re Holdings Ltd | 197,075 | 0.5 | |||||||||
Other | 1,729,951 | 3.9 | ||||||||||
1,927,026 | 4.4 | |||||||||||
LEATHER AND LEATHER PRODUCTS | 201,213 | 0.5 | ||||||||||
LEGAL SERVICES | 72,966 | 0.2 | ||||||||||
LOCAL AND INTERURBAN PASSENGER TRANSIT | 129,194 | 0.3 | ||||||||||
METAL MINING | 460,538 | 1.0 | ||||||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES | 152,429 | 0.3 | ||||||||||
MISCELLANEOUS RETAIL | ||||||||||||
4,808 | * | Jo-Ann Stores, Inc | 180,348 | 0.5 | ||||||||
8,617 | World Fuel Services Corp | 223,525 | 0.6 | |||||||||
Other | 670,108 | 1.3 | ||||||||||
1,073,981 | 2.4 | |||||||||||
MOTION PICTURES | 57,101 | 0.1 | ||||||||||
NONDEPOSITORY INSTITUTIONS | ||||||||||||
13,065 | * | PHH Corp | 248,758 | 0.5 | ||||||||
Other | 422,899 | 1.0 | ||||||||||
671,657 | 1.5 | |||||||||||
OIL AND GAS EXTRACTION | ||||||||||||
19,647 | * | McMoRan Exploration Co | 218,279 | 0.5 | ||||||||
Other | 1,303,128 | 2.9 | ||||||||||
1,521,407 | 3.4 | |||||||||||
PAPER AND ALLIED PRODUCTS | 423,824 | 1.0 | ||||||||||
PERSONAL SERVICES | 156,555 | 0.4 | ||||||||||
PETROLEUM AND COAL PRODUCTS | 74,421 | 0.2 | ||||||||||
PRIMARY METAL INDUSTRIES | 267,703 | 0.6 | ||||||||||
PRINTING AND PUBLISHING | 416,744 | 0.9 | ||||||||||
REAL ESTATE | 2,552 | 0.0 | ||||||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | ||||||||||||
1,200 | * | Deckers Outdoor Corp | 171,444 | 0.4 | ||||||||
Other | 396,541 | 0.9 | ||||||||||
567,985 | 1.3 | |||||||||||
SECURITY AND COMMODITY BROKERS | 500,223 | 1.1 | ||||||||||
48 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
SMALL-CAP EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
SPECIAL TRADE CONTRACTORS | ||||||||||||
10,360 | * | EMCOR Group, Inc | $ | 240,041 | 0.6 | % | ||||||
Other | 272,852 | 0.6 | ||||||||||
512,893 | 1.2 | |||||||||||
STONE, CLAY, AND GLASS PRODUCTS | 135,863 | 0.3 | ||||||||||
TEXTILE MILL PRODUCTS | 99,875 | 0.2 | ||||||||||
TRANSPORTATION BY AIR | ||||||||||||
3,820 | * | Atlas Air Worldwide Holdings, Inc | 181,450 | 0.4 | ||||||||
9,380 | * | UAL Corp | 192,853 | 0.5 | ||||||||
Other | 488,744 | 1.1 | ||||||||||
863,047 | 2.0 | |||||||||||
TRANSPORTATION EQUIPMENT | ||||||||||||
4,320 | A.O. Smith Corp | 208,180 | 0.4 | |||||||||
11,854 | * | Orbital Sciences Corp | 186,938 | 0.4 | ||||||||
Other | 890,317 | 2.1 | ||||||||||
1,285,435 | 2.9 | |||||||||||
TRANSPORTATION SERVICES | 160,702 | 0.4 | ||||||||||
TRUCKING AND WAREHOUSING | 318,400 | 0.7 | ||||||||||
WATER TRANSPORTATION | 146,546 | 0.3 | ||||||||||
WHOLESALE TRADE-DURABLE GOODS | ||||||||||||
8,107 | Owens & Minor, Inc | 230,076 | 0.6 | |||||||||
8,251 | * | PSS World Medical, Inc | 174,508 | 0.4 | ||||||||
Other | 245,020 | 0.5 | ||||||||||
649,604 | 1.5 | |||||||||||
WHOLESALE TRADE-NONDURABLE GOODS | ||||||||||||
3,278 | * | United Stationers, Inc | 178,553 | 0.5 | ||||||||
Other | 512,502 | 1.1 | ||||||||||
691,055 | 1.6 | |||||||||||
TOTAL COMMON STOCKS | (Cost $45,586,862) | 44,092,899 | 99.9 | |||||||||
TOTAL PORTFOLIO | (Cost $45,586,862) | 44,092,899 | 99.9 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 24,028 | 0.1 | ||||||||||
NET ASSETS | $ | 44,116,927 | 100.0 | % | ||||||||
* | Non-income producing. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 49 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
STOCK INDEX FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
AGRICULTURAL PRODUCTION-CROPS | $ | 9,675 | 0.0 | % | ||||||||
AGRICULTURAL PRODUCTION-LIVESTOCK | 16,276 | 0.0 | ||||||||||
AGRICULTURAL SERVICES | 29,391 | 0.0 | ||||||||||
AMUSEMENT AND RECREATION SERVICES | ||||||||||||
23,585 | Walt Disney Co | 742,927 | 0.6 | |||||||||
Other | 204,488 | 0.1 | ||||||||||
947,415 | 0.7 | |||||||||||
APPAREL AND ACCESSORY STORES | 1,111,185 | 0.8 | ||||||||||
APPAREL AND OTHER TEXTILE PRODUCTS | 586,856 | 0.4 | ||||||||||
AUTO REPAIR, SERVICES AND PARKING | 96,190 | 0.1 | ||||||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS | 323,197 | 0.2 | ||||||||||
�� | ||||||||||||
BUILDING MATERIALS AND GARDEN SUPPLIES | ||||||||||||
20,394 | Home Depot, Inc | 572,460 | 0.3 | |||||||||
Other | 444,548 | 0.4 | ||||||||||
1,017,008 | 0.7 | |||||||||||
BUSINESS SERVICES | ||||||||||||
2,934 | * | Google, Inc (Class A) | 1,305,482 | 1.0 | ||||||||
92,243 | Microsoft Corp | 2,122,510 | 1.6 | |||||||||
45,874 | Oracle Corp | 984,455 | 0.8 | |||||||||
Other | 5,786,057 | 3.8 | ||||||||||
10,198,504 | 7.2 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS | ||||||||||||
18,589 | Abbott Laboratories | 869,593 | 0.7 | |||||||||
11,537 | * | Amgen, Inc | 606,846 | 0.5 | ||||||||
20,708 | Bristol-Myers Squibb Co | 516,458 | 0.5 | |||||||||
5,907 | Colgate-Palmolive Co | 465,235 | 0.4 | |||||||||
33,215 | Johnson & Johnson | 1,961,678 | 1.5 | |||||||||
37,553 | Merck & Co, Inc | 1,313,228 | 1.0 | |||||||||
97,139 | Pfizer, Inc | 1,385,202 | 1.1 | |||||||||
34,682 | Procter & Gamble Co | 2,080,225 | 1.6 | |||||||||
Other | 6,048,855 | 3.5 | ||||||||||
15,247,320 | 10.8 | |||||||||||
COAL MINING | 358,359 | 0.3 | ||||||||||
COMMUNICATIONS | ||||||||||||
71,163 | AT&T, Inc | 1,721,432 | 1.3 | |||||||||
33,918 | Comcast Corp (Class A) | 589,155 | 0.5 | |||||||||
34,041 | Verizon Communications, Inc | 953,828 | 0.8 | |||||||||
Other | 2,482,401 | 1.5 | ||||||||||
5,746,816 | 4.1 | |||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||
120,828 | Bank of America Corp | 1,736,298 | 1.3 | |||||||||
254,446 | * | Citigroup, Inc | 956,717 | 0.8 | ||||||||
47,915 | JPMorgan Chase & Co | 1,754,168 | 1.3 |
50 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
STOCK INDEX FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
DEPOSITORY INSTITUTIONS — continued | ||||||||||||
23,084 | US Bancorp | $ | 515,927 | 0.5 | % | |||||||
58,602 | Wells Fargo & Co | 1,500,211 | 1.2 | |||||||||
Other | 3,644,375 | 2.0 | ||||||||||
10,107,696 | 7.1 | |||||||||||
EATING AND DRINKING PLACES | ||||||||||||
12,956 | McDonald’s Corp | 853,412 | 0.7 | |||||||||
Other | 765,512 | 0.5 | ||||||||||
1,618,924 | 1.2 | |||||||||||
EDUCATIONAL SERVICES | 254,528 | 0.2 | ||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES | 5,915,203 | 4.2 | ||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | ||||||||||||
10,958 | * | Apple Computer, Inc | 2,756,266 | 2.1 | ||||||||
68,777 | * | Cisco Systems, Inc | 1,465,638 | 1.1 | ||||||||
28,241 | Hewlett-Packard Co | 1,222,270 | 1.0 | |||||||||
67,004 | Intel Corp | 1,303,228 | 1.0 | |||||||||
19,769 | Qualcomm, Inc | 649,214 | 0.6 | |||||||||
Other | 4,467,148 | 2.6 | ||||||||||
11,863,764 | 8.4 | |||||||||||
ENGINEERING AND MANAGEMENT SERVICES | 1,223,246 | 0.9 | ||||||||||
FABRICATED METAL PRODUCTS | 834,342 | 0.6 | ||||||||||
FOOD AND KINDRED PRODUCTS | ||||||||||||
25,367 | Coca-Cola Co | 1,271,393 | 1.0 | |||||||||
19,316 | Kraft Foods, Inc (Class A) | 540,848 | 0.5 | |||||||||
19,423 | PepsiCo, Inc | 1,183,832 | 0.9 | |||||||||
Other | 2,423,151 | 1.5 | ||||||||||
5,419,224 | 3.9 | |||||||||||
FOOD STORES | 401,227 | 0.3 | ||||||||||
FORESTRY | 132,160 | 0.1 | ||||||||||
FURNITURE AND FIXTURES | 219,999 | 0.2 | ||||||||||
FURNITURE AND HOME FURNISHINGS STORES | 236,592 | 0.2 | ||||||||||
GENERAL BUILDING CONTRACTORS | 244,411 | 0.2 | ||||||||||
GENERAL MERCHANDISE STORES | ||||||||||||
24,574 | Wal-Mart Stores, Inc | 1,181,271 | 0.9 | |||||||||
Other | 1,116,539 | 0.7 | ||||||||||
2,297,810 | 1.6 | |||||||||||
HEALTH SERVICES | 1,803,583 | 1.3 | ||||||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING | 38,693 | 0.0 | ||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | ||||||||||||
20,814 | * | Berkshire Hathaway, Inc (Class B) | 1,658,667 | 1.3 | ||||||||
14,149 | iShares Russell 3000 Index Fund | 864,221 | 0.7 | |||||||||
Other | 3,502,809 | 2.3 | ||||||||||
6,025,697 | 4.3 | |||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 51 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
STOCK INDEX FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
HOTELS AND OTHER LODGING PLACES | $ | 509,065 | 0.4 | % | ||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | ||||||||||||
8,588 | 3M Co | 678,366 | 0.6 | |||||||||
128,571 | General Electric Co | 1,853,993 | 1.4 | |||||||||
15,443 | International Business Machines Corp | 1,906,901 | 1.5 | |||||||||
Other | 5,256,524 | 3.4 | ||||||||||
9,695,784 | 6.9 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS | ||||||||||||
13,264 | Medtronic, Inc | 481,084 | 0.4 | |||||||||
Other | 4,504,764 | 3.2 | ||||||||||
4,985,848 | 3.6 | |||||||||||
INSURANCE AGENTS, BROKERS AND SERVICE | 524,196 | 0.4 | ||||||||||
INSURANCE CARRIERS | 4,924,141 | 3.5 | ||||||||||
JUSTICE, PUBLIC ORDER AND SAFETY | 39,787 | 0.0 | ||||||||||
LEATHER AND LEATHER PRODUCTS | 202,337 | 0.1 | ||||||||||
LEGAL SERVICES | 31,895 | 0.0 | ||||||||||
LOCAL AND INTERURBAN PASSENGER TRANSIT | 20,062 | 0.0 | ||||||||||
LUMBER AND WOOD PRODUCTS | 26,759 | 0.0 | ||||||||||
METAL MINING | 943,120 | 0.7 | ||||||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES | 229,855 | 0.2 | ||||||||||
MISCELLANEOUS RETAIL | ||||||||||||
16,387 | CVS Corp | 480,466 | 0.4 | |||||||||
Other | 1,638,117 | 1.1 | ||||||||||
2,118,583 | 1.5 | |||||||||||
MOTION PICTURES | 1,272,229 | 0.9 | ||||||||||
NONDEPOSITORY INSTITUTIONS | ||||||||||||
12,581 | American Express Co | 499,466 | 0.5 | |||||||||
Other | 746,687 | 0.4 | ||||||||||
1,246,153 | 0.9 | |||||||||||
NONMETALLIC MINERALS, EXCEPT FUELS | 106,343 | 0.1 | ||||||||||
OIL AND GAS EXTRACTION | ||||||||||||
9,781 | Occidental Petroleum Corp | 754,603 | 0.6 | |||||||||
14,364 | Schlumberger Ltd | 794,903 | 0.7 | |||||||||
Other | 4,339,986 | 2.9 | ||||||||||
5,889,492 | 4.2 | |||||||||||
PAPER AND ALLIED PRODUCTS | 706,570 | 0.5 | ||||||||||
PERSONAL SERVICES | 190,605 | 0.1 | ||||||||||
PETROLEUM AND COAL PRODUCTS | ||||||||||||
24,190 | Chevron Corp | 1,641,533 | 1.2 | |||||||||
17,923 | ConocoPhillips | 879,840 | 0.6 | |||||||||
61,489 | Exxon Mobil Corp | 3,509,179 | 2.6 | |||||||||
Other | 854,555 | 0.5 | ||||||||||
6,885,107 | 4.9 | |||||||||||
52 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
STOCK INDEX FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
PIPELINES, EXCEPT NATURAL GAS | $ | 159,135 | 0.1 | % | ||||||||
PRIMARY METAL INDUSTRIES | 872,139 | 0.6 | ||||||||||
PRINTING AND PUBLISHING | 639,535 | 0.5 | ||||||||||
RAILROAD TRANSPORTATION | 957,284 | 0.7 | ||||||||||
REAL ESTATE | 166,857 | 0.1 | ||||||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 248,067 | 0.2 | ||||||||||
SECURITY AND COMMODITY BROKERS | ||||||||||||
6,200 | Goldman Sachs Group, Inc | 813,873 | 0.7 | |||||||||
Other | 2,132,100 | 1.4 | ||||||||||
2,945,973 | 2.1 | |||||||||||
SOCIAL SERVICES | 5,612 | 0.0 | ||||||||||
SPECIAL TRADE CONTRACTORS | 134,605 | 0.1 | ||||||||||
STONE, CLAY, AND GLASS PRODUCTS | 531,192 | 0.4 | ||||||||||
TEXTILE MILL PRODUCTS | 49,370 | 0.0 | ||||||||||
TOBACCO PRODUCTS | ||||||||||||
25,081 | Altria Group, Inc | 502,623 | 0.4 | |||||||||
22,303 | Philip Morris International, Inc | 1,022,370 | 0.7 | |||||||||
Other | 222,139 | 0.1 | ||||||||||
1,747,132 | 1.2 | |||||||||||
TRANSPORTATION BY AIR | 448,230 | 0.3 | ||||||||||
TRANSPORTATION EQUIPMENT | ||||||||||||
9,130 | Boeing Co | 572,907 | 0.5 | |||||||||
11,183 | United Technologies Corp | 725,888 | 0.6 | |||||||||
Other | 2,285,950 | 1.5 | ||||||||||
3,584,745 | 2.6 | |||||||||||
TRANSPORTATION SERVICES | 526,179 | 0.4 | ||||||||||
TRUCKING AND WAREHOUSING | ||||||||||||
8,569 | United Parcel Service, Inc (Class B) | 487,490 | 0.4 | |||||||||
Other | 142,711 | 0.0 | ||||||||||
630,201 | 0.4 | |||||||||||
WATER TRANSPORTATION | 351,476 | 0.3 | ||||||||||
WHOLESALE TRADE-DURABLE GOODS | 528,924 | 0.4 | ||||||||||
WHOLESALE TRADE-NONDURABLE GOODS | 850,858 | 0.6 | ||||||||||
TOTAL COMMON STOCKS | (Cost $155,339,017) | 140,250,736 | 99.9 | |||||||||
RIGHTS/WARRANTS | ||||||||||||
OIL AND GAS EXTRACTION | 2 | 0.0 | ||||||||||
TOTAL RIGHTS/WARRANTS | (Cost $0) | 2 | 0.0 | |||||||||
TOTAL PORTFOLIO | (Cost $155,339,017) | 140,250,738 | 99.9 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 145,385 | 0.1 | ||||||||||
NET ASSETS | $ | 140,396,123 | 100.0 | % | ||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 53 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
STOCK INDEX FUND n JUNE 30, 2010
* | Non-income producing. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
54 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
SOCIAL CHOICE EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
AGRICULTURAL SERVICES | $ | 7,502 | 0.0 | % | ||||||||
AMUSEMENT AND RECREATION SERVICES | ||||||||||||
9,717 | Walt Disney Co | 306,086 | 1.0 | |||||||||
Other | 2,880 | 0.0 | ||||||||||
308,966 | 1.0 | |||||||||||
APPAREL AND ACCESSORY STORES | 304,200 | 1.0 | ||||||||||
APPAREL AND OTHER TEXTILE PRODUCTS | ||||||||||||
3,032 | Nike, Inc (Class B) | 204,811 | 0.8 | |||||||||
Other | 47,031 | 0.1 | ||||||||||
251,842 | 0.9 | |||||||||||
AUTO REPAIR, SERVICES AND PARKING | 19,213 | 0.1 | ||||||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS | 50,476 | 0.2 | ||||||||||
BUILDING MATERIALS AND GARDEN SUPPLIES | ||||||||||||
9,042 | Home Depot, Inc | 253,809 | 0.9 | |||||||||
Other | 128,650 | 0.4 | ||||||||||
382,459 | 1.3 | |||||||||||
BUSINESS SERVICES | ||||||||||||
4,793 | Automatic Data Processing, Inc | 192,966 | 0.8 | |||||||||
862 | * | Google, Inc (Class A) | 383,547 | 1.4 | ||||||||
25,743 | Microsoft Corp | 592,346 | 2.1 | |||||||||
Other | 740,508 | 2.2 | ||||||||||
1,909,367 | 6.5 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS | ||||||||||||
5,190 | * | Amgen, Inc | 272,994 | 1.0 | ||||||||
10,211 | Bristol-Myers Squibb Co | 254,662 | 1.0 | |||||||||
5,035 | * | Gilead Sciences, Inc | 172,600 | 0.6 | ||||||||
9,574 | Johnson & Johnson | 565,440 | 2.0 | |||||||||
11,331 | Merck & Co, Inc | 396,245 | 1.4 | |||||||||
2,581 | Praxair, Inc | 196,130 | 0.7 | |||||||||
9,960 | Procter & Gamble Co | 597,402 | 2.1 | |||||||||
Other | 1,062,032 | 3.2 | ||||||||||
3,517,505 | 12.0 | |||||||||||
COMMUNICATIONS | ||||||||||||
6,874 | * | DIRECTV | 233,165 | 0.9 | ||||||||
10,772 | Verizon Communications, Inc | 301,830 | 1.1 | |||||||||
Other | 721,066 | 2.3 | ||||||||||
1,256,061 | 4.3 | |||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||
9,261 | US Bancorp | 206,982 | 0.8 | |||||||||
17,856 | Wells Fargo & Co | 457,113 | 1.6 | |||||||||
Other | 947,058 | 3.1 | ||||||||||
1,611,153 | 5.5 | |||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 55 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
SOCIAL CHOICE EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
EATING AND DRINKING PLACES | ||||||||||||
5,029 | McDonald’s Corp | $ | 331,261 | 1.2 | % | |||||||
Other | 156,768 | 0.5 | ||||||||||
488,029 | 1.7 | |||||||||||
EDUCATIONAL SERVICES | 3,895 | 0.0 | ||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES | 1,923,109 | 6.5 | ||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | ||||||||||||
20,937 | * | Cisco Systems, Inc | 446,168 | 1.6 | ||||||||
9,165 | Hewlett-Packard Co | 396,662 | 1.4 | |||||||||
21,550 | Intel Corp | 419,149 | 1.5 | |||||||||
7,973 | Texas Instruments, Inc | 185,612 | 0.7 | |||||||||
Other | 680,458 | 2.0 | ||||||||||
2,128,049 | 7.2 | |||||||||||
ENGINEERING AND MANAGEMENT SERVICES | 247,488 | 0.8 | ||||||||||
FABRICATED METAL PRODUCTS | ||||||||||||
4,371 | Illinois Tool Works, Inc | 180,434 | 0.7 | |||||||||
Other | 109,518 | 0.3 | ||||||||||
289,952 | 1.0 | |||||||||||
FOOD AND KINDRED PRODUCTS | ||||||||||||
5,196 | General Mills, Inc | 184,562 | 0.6 | |||||||||
7,819 | Kraft Foods, Inc (Class A) | 218,932 | 0.8 | |||||||||
6,470 | PepsiCo, Inc | 394,346 | 1.4 | |||||||||
Other | 360,543 | 1.1 | ||||||||||
1,158,383 | 3.9 | |||||||||||
FOOD STORES | 74,522 | 0.3 | ||||||||||
FORESTRY | 38,298 | 0.1 | ||||||||||
FURNITURE AND FIXTURES | 66,715 | 0.2 | ||||||||||
FURNITURE AND HOME FURNISHINGS STORES | 50,133 | 0.2 | ||||||||||
GENERAL BUILDING CONTRACTORS | 36,917 | 0.1 | ||||||||||
GENERAL MERCHANDISE STORES | ||||||||||||
3,310 | Costco Wholesale Corp | 181,487 | 0.6 | |||||||||
4,450 | Target Corp | 218,807 | 0.8 | |||||||||
Other | 34,776 | 0.1 | ||||||||||
435,070 | 1.5 | |||||||||||
HEALTH SERVICES | 154,064 | 0.5 | ||||||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING | 9,282 | 0.0 | ||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | 612,128 | 2.1 | ||||||||||
HOTELS AND OTHER LODGING PLACES | 95,265 | 0.3 | ||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | ||||||||||||
3,690 | 3M Co | 291,473 | 1.1 | |||||||||
2,558 | Caterpillar, Inc | 153,659 | 0.6 | |||||||||
2,807 | Deere & Co | 156,294 | 0.6 | |||||||||
5,478 | Emerson Electric Co | 239,334 | 0.9 |
56 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
SOCIAL CHOICE EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT — continued | ||||||||||||
4,618 | International Business Machines Corp | $ | 570,230 | 2.0 | % | |||||||
Other | 618,790 | 1.7 | ||||||||||
2,029,780 | 6.9 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS | ||||||||||||
4,047 | Baxter International, Inc | 164,470 | 0.7 | |||||||||
4,869 | Danaher Corp | 180,737 | 0.7 | |||||||||
6,326 | Medtronic, Inc | 229,445 | 0.9 | |||||||||
Other | 762,446 | 2.2 | ||||||||||
1,337,098 | 4.5 | |||||||||||
INSURANCE AGENTS, BROKERS AND SERVICE | 119,257 | 0.4 | ||||||||||
INSURANCE CARRIERS | ||||||||||||
3,753 | Aflac, Inc | 160,141 | 0.6 | |||||||||
3,439 | Chubb Corp | 171,984 | 0.7 | |||||||||
4,120 | Travelers Cos, Inc | 202,909 | 0.8 | |||||||||
3,581 | * | WellPoint, Inc | 175,217 | 0.7 | ||||||||
Other | 623,937 | 1.7 | ||||||||||
1,334,188 | 4.5 | |||||||||||
LEATHER AND LEATHER PRODUCTS | 45,895 | 0.2 | ||||||||||
LEGAL SERVICES | 4,141 | 0.0 | ||||||||||
LUMBER AND WOOD PRODUCTS | 4,850 | 0.0 | ||||||||||
METAL MINING | 53,739 | 0.2 | ||||||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES | 86,084 | 0.3 | ||||||||||
MISCELLANEOUS RETAIL | ||||||||||||
6,235 | CVS Corp | 182,810 | 0.7 | |||||||||
Other | 451,415 | 1.4 | ||||||||||
634,225 | 2.1 | |||||||||||
MOTION PICTURES | 220,240 | 0.7 | ||||||||||
NONDEPOSITORY INSTITUTIONS | ||||||||||||
6,047 | American Express Co | 240,065 | 0.9 | |||||||||
Other | 176,533 | 0.5 | ||||||||||
416,598 | 1.4 | |||||||||||
NONMETALLIC MINERALS, EXCEPT FUELS | 62,396 | 0.2 | ||||||||||
OIL AND GAS EXTRACTION | ||||||||||||
2,450 | Apache Corp | 206,267 | 0.8 | |||||||||
3,410 | Devon Energy Corp | 207,738 | 0.8 | |||||||||
1,804 | EOG Resources, Inc | 177,459 | 0.7 | |||||||||
Other | 1,158,007 | 3.6 | ||||||||||
1,749,471 | 5.9 | |||||||||||
PAPER AND ALLIED PRODUCTS | ||||||||||||
2,545 | Kimberly-Clark Corp | 154,304 | 0.6 | |||||||||
Other | 134,812 | 0.4 | ||||||||||
289,116 | 1.0 | |||||||||||
PERSONAL SERVICES | 6,137 | 0.0 | ||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 57 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
SOCIAL CHOICE EQUITY FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
PETROLEUM AND COAL PRODUCTS | ||||||||||||
5,440 | Marathon Oil Corp | $ | 169,130 | 0.6 | % | |||||||
Other | 145,736 | 0.5 | ||||||||||
314,866 | 1.1 | |||||||||||
PIPELINES, EXCEPT NATURAL GAS | ||||||||||||
9,075 | Spectra Energy Corp | 182,135 | 0.6 | |||||||||
182,135 | 0.6 | |||||||||||
PRIMARY METAL INDUSTRIES | 287,926 | 1.0 | ||||||||||
PRINTING AND PUBLISHING | 132,496 | 0.4 | ||||||||||
RAILROAD TRANSPORTATION | ||||||||||||
3,167 | Norfolk Southern Corp | 168,009 | 0.6 | |||||||||
Other | 144,384 | 0.5 | ||||||||||
312,393 | 1.1 | |||||||||||
REAL ESTATE | 10,055 | 0.0 | ||||||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 13,479 | 0.0 | ||||||||||
SECURITY AND COMMODITY BROKERS | 733,760 | 2.5 | ||||||||||
SOCIAL SERVICES | 3,419 | 0.0 | ||||||||||
SPECIAL TRADE CONTRACTORS | 16,736 | 0.1 | ||||||||||
STONE, CLAY, AND GLASS PRODUCTS | 122,844 | 0.4 | ||||||||||
TEXTILE MILL PRODUCTS | 4,186 | 0.0 | ||||||||||
TRANSPORTATION BY AIR | 125,705 | 0.4 | ||||||||||
TRANSPORTATION EQUIPMENT | 432,717 | 1.5 | ||||||||||
TRANSPORTATION SERVICES | 167,586 | 0.6 | ||||||||||
TRUCKING AND WAREHOUSING | ||||||||||||
4,180 | United Parcel Service, Inc (Class B) | 237,800 | 0.8 | |||||||||
237,800 | 0.8 | |||||||||||
WATER TRANSPORTATION | 32,106 | 0.1 | ||||||||||
WHOLESALE TRADE-DURABLE GOODS | 150,536 | 0.5 | ||||||||||
WHOLESALE TRADE-NONDURABLE GOODS | 186,554 | 0.6 | ||||||||||
TOTAL COMMON STOCKS | (Cost $32,095,493) | 29,290,557 | 99.2 | |||||||||
RIGHTS/WARRANTS | ||||||||||||
DEPOSITORY INSTITUTIONS | 0 | 0.0 | ||||||||||
TOTAL RIGHTS/WARRANTS | (Cost $0) | — | 0.0 | |||||||||
TOTAL PORTFOLIO | (Cost $32,095,493) | 29,290,557 | 99.2 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 241,683 | 0.8 | ||||||||||
NET ASSETS | $ | 29,532,240 | 100.0 | % | ||||||||
* | Non-income producing. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
58 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
REAL ESTATE SECURITIES FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
COMMON STOCKS | ||||||||||||
APARTMENT REITS | ||||||||||||
38,000 | American Campus Communities, Inc | $ | 1,037,020 | 1.8 | % | |||||||
28,500 | AvalonBay Communities, Inc | 2,661,045 | 4.5 | |||||||||
42,000 | Equity Residential | 1,748,880 | 2.9 | |||||||||
6,500 | Essex Property Trust, Inc | 634,010 | 1.1 | |||||||||
66,000 | UDR, Inc | 1,262,580 | 2.2 | |||||||||
7,343,535 | 12.5 | |||||||||||
DIVERSIFIED REITS | ||||||||||||
20,000 | Digital Realty Trust, Inc | 1,153,600 | 2.0 | |||||||||
39,000 | Entertainment Properties Trust | 1,484,730 | 2.5 | |||||||||
34,801 | Mission West Properties, Inc | 237,343 | 0.4 | |||||||||
38,000 | Vornado Realty Trust | 2,772,100 | 4.8 | |||||||||
5,647,773 | 9.7 | |||||||||||
FORESTRY | ||||||||||||
20,000 | Plum Creek Timber Co, Inc | 690,600 | 1.2 | |||||||||
690,600 | 1.2 | |||||||||||
HEALTHCARE REITS | ||||||||||||
47,000 | HCP, Inc | 1,515,750 | 2.6 | |||||||||
37,000 | Health Care REIT, Inc | 1,558,440 | 2.7 | |||||||||
43,500 | Nationwide Health Properties, Inc | 1,555,995 | 2.7 | |||||||||
35,500 | Ventas, Inc | 1,666,725 | 2.8 | |||||||||
�� | 6,296,910 | 10.8 | ||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | ||||||||||||
37,000 | AMB Property Corp | 877,270 | 1.5 | |||||||||
7,500 | Annaly Mortgage Management, Inc | 128,625 | 0.2 | |||||||||
8,000 | Home Properties, Inc | 360,560 | 0.6 | |||||||||
1,366,455 | 2.3 | |||||||||||
HOTEL REITS | ||||||||||||
30,000 | * | FelCor Lodging Trust, Inc | 149,700 | 0.3 | ||||||||
177,000 | Host Marriott Corp | 2,385,960 | 4.0 | |||||||||
100,000 | * | Orient-Express Hotels Ltd (Class A) | 740,000 | 1.2 | ||||||||
5,000 | Starwood Hotels & Resorts Worldwide, Inc | 207,150 | 0.4 | |||||||||
45,000 | * | Sunstone Hotel Investors, Inc | 446,850 | 0.8 | ||||||||
3,929,660 | 6.7 | |||||||||||
HOTELS AND OTHER LODGING PLACES | ||||||||||||
4,500 | * | Vail Resorts, Inc | 157,095 | 0.3 | ||||||||
157,095 | 0.3 | |||||||||||
INDUSTRIAL REITS | ||||||||||||
19,245 | EastGroup Properties, Inc | 684,737 | 1.2 | |||||||||
160,000 | Prologis | 1,620,800 | 2.8 | |||||||||
2,305,537 | 4.0 | |||||||||||
NONDEPOSITORY INSTITUTIONS | ||||||||||||
28,800 | *g,m | People’s Choice Financial Corp | 0 | 0.0 | ||||||||
0 | 0.0 | |||||||||||
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 59 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
REAL ESTATE SECURITIES FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
OFFICE PROPERTY REITS | ||||||||||||
17,500 | Alexandria Real Estate Equities, Inc | $ | 1,108,975 | 1.9 | % | |||||||
26,500 | BioMed Realty Trust, Inc | 426,385 | 0.7 | |||||||||
40,500 | Boston Properties, Inc | 2,889,270 | 5.0 | |||||||||
15,000 | Corporate Office Properties Trust | 566,400 | 1.0 | |||||||||
30,000 | Hersha Hospitality Trust | 135,600 | 0.2 | |||||||||
34,500 | SL Green Realty Corp | 1,898,880 | 3.3 | |||||||||
7,025,510 | 12.1 | |||||||||||
REAL ESTATE | ||||||||||||
64,000 | * | CB Richard Ellis Group, Inc (Class A) | 871,040 | 1.5 | ||||||||
32,000 | * | Forestar Real Estate Group, Inc | 574,720 | 1.0 | ||||||||
407,000 | Thomas Properties Group, Inc | 1,347,170 | 2.3 | |||||||||
2,792,930 | 4.8 | |||||||||||
REGIONAL MALL REITS | ||||||||||||
30,000 | Glimcher Realty Trust | 179,400 | 0.3 | |||||||||
65,000 | Macerich Co | 2,425,800 | 4.2 | |||||||||
75,000 | Simon Property Group, Inc | 6,056,250 | 10.3 | |||||||||
8,661,450 | 14.8 | |||||||||||
SHOPPING CENTER REITS | ||||||||||||
165,000 | Developers Diversified Realty Corp | 1,633,500 | 2.8 | |||||||||
14,000 | Federal Realty Investment Trust | 983,780 | 1.7 | |||||||||
70,000 | Kimco Realty Corp | 940,800 | 1.6 | |||||||||
40,000 | Regency Centers Corp | 1,376,000 | 2.4 | |||||||||
4,934,080 | 8.5 | |||||||||||
SINGLE TENANT REITS | ||||||||||||
30,000 | Realty Income Corp | 909,900 | 1.6 | |||||||||
909,900 | 1.6 | |||||||||||
STORAGE REITS | ||||||||||||
19,000 | Extra Space Storage, Inc | 264,100 | 0.5 | |||||||||
42,000 | Public Storage, Inc | 3,692,220 | 6.3 | |||||||||
15,000 | Sovran Self Storage, Inc | 516,450 | 0.9 | |||||||||
110,000 | U-Store-It Trust | 820,600 | 1.4 | |||||||||
5,293,370 | 9.1 | |||||||||||
TOTAL COMMON STOCKS | (Cost $61,617,078) | 57,354,805 | 98.4 | |||||||||
PREFERRED STOCK | ||||||||||||
OFFICE PROPERTY REITS | ||||||||||||
13,000 | SL Green Realty Corp | 308,620 | 0.5 | |||||||||
308,620 | 0.5 | |||||||||||
60 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
REAL ESTATE SECURITIES FUND n JUNE 30, 2010
Shares | Company | Value | % of net assets | |||||||||
REGIONAL MALL REITS | ||||||||||||
13,000 | CBL & Associates Properties, Inc | $ | 276,770 | 0.5 | % | |||||||
276,770 | 0.5 | |||||||||||
TOTAL PREFERRED STOCK | (Cost $570,205) | 585,390 | 1.0 | |||||||||
TOTAL PORTFOLIO | (Cost $62,187,283) | 57,940,195 | 99.4 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 362,248 | 0.6 | ||||||||||
NET ASSETS | $ | 58,302,443 | 100.0 | % | ||||||||
Abbreviation(s):
REIT Real Estate Investment Trust
* | Non-income producing. |
g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/2010, the value of these securities amounted to $0 or 0.00% of net assets. |
m | Indicates a security that has been deemed illiquid. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 61 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
BOND FUND n JUNE 30, 2010
Principal | Issuer | Value | % of net assets | |||||||||||
BONDS | ||||||||||||||
CORPORATE BONDS | ||||||||||||||
AGENCY SECURITIES | ||||||||||||||
$ 1,000,000 | Bank of America Corp | 2.380%, 06/22/12 | $ | 1,030,499 | 0.7 | % | ||||||||
1,000,000 | Citigroup Funding, Inc | 1.880%, 10/22/12 | 1,021,020 | 0.8 | ||||||||||
1,000,000 | Citigroup, Inc | 2.130%, 04/30/12 | 1,024,509 | 0.8 | ||||||||||
1,700,000 | GMAC, Inc | 2.200%, 12/19/12 | 1,746,752 | 1.2 | ||||||||||
Other | 3,659,350 | 2.9 | ||||||||||||
8,482,130 | 6.4 | |||||||||||||
AMUSEMENT AND RECREATION SERVICES | 110,136 | 0.1 | ||||||||||||
AUTO REPAIR, SERVICES AND PARKING | 40,421 | 0.0 | ||||||||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS | 51,124 | 0.0 | ||||||||||||
BUILDING MATERIALS AND GARDEN SUPPLIES | 27,489 | 0.0 | ||||||||||||
BUSINESS SERVICES | 286,440 | 0.1 | ||||||||||||
CHEMICALS AND ALLIED PRODUCTS | 1,479,164 | 1.2 | ||||||||||||
COMMUNICATIONS | 3,175,234 | 2.4 | ||||||||||||
DEPOSITORY INSTITUTIONS | ||||||||||||||
900,000 | g | Depfa ACS Bank | 5.130%, 03/16/37 | 657,743 | 0.6 | |||||||||
Other | 4,981,011 | 3.7 | ||||||||||||
5,638,754 | 4.3 | |||||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES | 2,215,747 | 1.7 | ||||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 478,521 | 0.5 | ||||||||||||
EXECUTIVE, LEGISLATIVE AND GENERAL | 104,070 | 0.1 | ||||||||||||
FABRICATED METAL PRODUCTS | 129,554 | 0.1 | ||||||||||||
FOOD AND KINDRED PRODUCTS | 955,970 | 0.7 | ||||||||||||
FOOD STORES | 140,250 | 0.1 | ||||||||||||
GENERAL MERCHANDISE STORES | 247,486 | 0.2 | ||||||||||||
HEALTH SERVICES | 114,229 | 0.1 | ||||||||||||
HOLDING AND OTHER INVESTMENT OFFICES | 621,643 | 0.5 | ||||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT | 268,087 | 0.2 | ||||||||||||
INSTRUMENTS AND RELATED PRODUCTS | 519,662 | 0.5 | ||||||||||||
INSURANCE AGENTS, BROKERS AND SERVICE | 192,857 | 0.1 | ||||||||||||
INSURANCE CARRIERS | 1,102,057 | 0.8 | ||||||||||||
METAL MINING | 194,053 | 0.1 | ||||||||||||
MISCELLANEOUS RETAIL | 107,047 | 0.1 | ||||||||||||
MOTION PICTURES | 54,378 | 0.0 | ||||||||||||
NONDEPOSITORY INSTITUTIONS | 3,334,833 | 2.4 | ||||||||||||
OIL AND GAS EXTRACTION | 2,057,175 | 1.5 | ||||||||||||
PAPER AND ALLIED PRODUCTS | 55,137 | 0.0 | ||||||||||||
PETROLEUM AND COAL PRODUCTS | 766,674 | 0.6 | ||||||||||||
62 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
BOND FUND n JUNE 30, 2010
Principal | Issuer | Value | % of net assets | |||||||||||
PIPELINES, EXCEPT NATURAL GAS | $ | 181,460 | 0.1 | % | ||||||||||
PRIMARY METAL INDUSTRIES | 105,398 | 0.1 | ||||||||||||
PRINTING AND PUBLISHING | 140,115 | 0.1 | ||||||||||||
RAILROAD TRANSPORTATION | 430,942 | 0.3 | ||||||||||||
SECURITY AND COMMODITY BROKERS | 2,156,996 | 1.6 | ||||||||||||
STONE, CLAY, AND GLASS PRODUCTS | 142,910 | 0.1 | ||||||||||||
TOBACCO PRODUCTS | 115,696 | 0.1 | ||||||||||||
TRANSPORTATION EQUIPMENT | 279,789 | 0.2 | ||||||||||||
WHOLESALE TRADE-DURABLE GOODS | 164,000 | 0.1 | ||||||||||||
WHOLESALE TRADE-NONDURABLE GOODS | 191,061 | 0.1 | ||||||||||||
TOTAL CORPORATE BONDS | (Cost $35,124,461) | 36,858,689 | 27.6 | |||||||||||
GOVERNMENT BONDS | ||||||||||||||
AGENCY SECURITIES | ||||||||||||||
$ 600,000 | Federal Farm Credit Bank (FFCB) | 2.630%, 04/21/11 | 610,607 | 0.5 | ||||||||||
1,000,000 | Federal Home Loan Bank (FHLB) | 1.880%, 06/21/13 | 1,019,708 | 0.8 | ||||||||||
2,000,000 | Federal Home Loan Mortgage Corp (FHLMC) | 2.130%, 09/21/12 | 2,056,387 | 1.4 | ||||||||||
1,500,000 | FHLMC | 5.130%, 10/18/16 | 1,717,175 | 1.3 | ||||||||||
1,000,000 | Federal National Mortgage Association (FNMA) | 3.000%, 09/16/14 | 1,049,401 | 0.8 | ||||||||||
Other | 2,214,748 | 1.7 | ||||||||||||
8,668,026 | 6.5 | |||||||||||||
FOREIGN GOVERNMENT BONDS | ||||||||||||||
1,000,000 | Province of Ontario Canada | 2.630%, 01/20/12 | 1,023,652 | 0.9 | ||||||||||
1,000,000 | Province of Ontario Canada | 4.000%, 10/07/19 | 1,032,550 | 0.7 | ||||||||||
1,690,000 | Province of Ontario Canada | 2.700%–4.400%, 09/08/10–04/14/20 | 1,755,811 | 1.2 | ||||||||||
Other | 4,338,671 | 3.2 | ||||||||||||
8,150,684 | 6.0 | |||||||||||||
MORTGAGE BACKED | ||||||||||||||
3,756,799 | Federal Home Loan Mortgage Corp Gold | |||||||||||||
(FGLMC) 4.000%–6.500%, | 02/01/19–01/01/40 | 4,025,958 | 3.0 | |||||||||||
1,541,120 | Federal National Mortgage Association (FNMA) | 4.570%, 01/01/15 | 1,648,718 | 1.1 | ||||||||||
585,371 | FNMA | 4.000%, 02/01/25 | 609,141 | 0.5 | ||||||||||
715,689 | FNMA | 5.500%, 07/01/33 | 771,870 | 0.6 | ||||||||||
826,048 | FNMA | 5.500%, 11/01/33 | 890,893 | 0.7 | ||||||||||
840,958 | FNMA | 5.000%, 03/01/34 | 894,342 | 0.7 | ||||||||||
1,809,534 | FNMA | 5.000%, 09/01/34 | 1,922,987 | 1.3 | ||||||||||
1,158,423 | FNMA | 5.500%, 02/01/38 | 1,245,131 | 0.8 | ||||||||||
919,869 | FNMA | 4.500%, 02/01/39 | 955,399 | 0.6 | ||||||||||
1,850,113 | FNMA | 4.500%, 04/01/39 | 1,920,996 | 1.3 | ||||||||||
754,123 | FNMA | 4.000%, 07/01/39 | 764,767 | 0.6 | ||||||||||
532,738 | FNMA | 6.500%, 07/01/39 | 584,130 | 0.4 | ||||||||||
551,290 | FNMA | 4.500%, 08/01/39 | 572,412 | 0.4 | ||||||||||
822,887 | FNMA | 6.000%, 09/01/39 | 893,527 | 0.7 | ||||||||||
11,881,314 | i | FNMA | 4.000%–7.500%, 06/01/13–11/01/39 | 12,670,028 | 10.1 | |||||||||
500,000 | h | FNMA | 5.500%, 07/01/40 | 537,375 | 0.4 |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 63 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | continued |
BOND FUND n JUNE 30, 2010
Principal | Issuer | Value | % of net assets | |||||||||||
MORTGAGE BACKED — continued | ||||||||||||||
$ 559,651 | Government National Mortgage Association | |||||||||||||
(GNMA) | 5.500%, 07/15/39 | $ | 605,700 | 0.5 | % | |||||||||
696,777 | GNMA | 4.500%, 03/15/40 | 727,413 | 0.5 | ||||||||||
498,562 | GNMA | 5.000%, 04/15/40 | 532,464 | 0.4 | ||||||||||
599,076 | GNMA | 5.000%, 05/20/40 | 638,412 | 0.5 | ||||||||||
500,000 | h | GNMA | 5.000%, 06/15/40 | 534,000 | 0.4 | |||||||||
2,704,061 | GNMA | 4.000%–6.230%, 07/15/33–09/15/43 | 2,894,749 | 2.1 | ||||||||||
Other | 2,663,397 | 2.0 | ||||||||||||
39,503,809 | 29.6 | |||||||||||||
MUNICIPAL BONDS | 987,565 | 0.7 | ||||||||||||
U.S. TREASURY SECURITIES | ||||||||||||||
443,000 | United States Treasury Bond | 8.000%, 11/15/21 | 644,288 | 0.5 | ||||||||||
842,500 | United States Treasury Bond | 5.250%, 02/15/29 | 1,013,897 | 0.8 | ||||||||||
2,082,000 | United States Treasury Bond | 4.380%, 11/15/39 | 2,247,583 | 1.6 | ||||||||||
1,415,000 | United States Treasury Note | 1.000%, 09/30/11 | 1,424,728 | 1.1 | ||||||||||
697,000 | United States Treasury Note | 1.130%, 06/15/13 | 699,774 | 0.5 | ||||||||||
635,000 | United States Treasury Note | 2.000%, 11/30/13 | 651,867 | 0.5 | ||||||||||
4,377,000 | United States Treasury Note | 1.880%, 04/30/14 | 4,455,991 | 3.4 | ||||||||||
1,613,000 | United States Treasury Note | 2.250%, 05/31/14 | 1,664,288 | 1.2 | ||||||||||
799,000 | United States Treasury Note | 2.380%, 08/31/14 | 826,029 | 0.6 | ||||||||||
1,580,000 | United States Treasury Note | 2.380%, 10/31/14 | 1,630,116 | 1.2 | ||||||||||
1,600,000 | United States Treasury Note | 2.250%, 01/31/15 | 1,639,875 | 1.2 | ||||||||||
579,000 | United States Treasury Note | 2.500%, 04/30/15 | 599,582 | 0.4 | ||||||||||
2,061,000 | United States Treasury Note | 2.130%, 05/31/15 | 2,096,428 | 1.7 | ||||||||||
1,180,000 | h | United States Treasury Note | 1.880%, 06/30/15 | 1,184,517 | 0.9 | |||||||||
860,000 | United States Treasury Note | 2.630%, 02/29/16 | 884,792 | 0.7 | ||||||||||
1,100,000 | United States Treasury Note | 2.380%, 03/31/16 | 1,116,243 | 0.8 | ||||||||||
1,100,000 | United States Treasury Note | 3.250%, 07/31/16 | 1,166,086 | 0.9 | ||||||||||
913,800 | United States Treasury Note | 3.500%, 05/15/20 | 956,347 | 0.7 | ||||||||||
Other | 1,147,907 | 0.8 | ||||||||||||
26,050,338 | 19.5 | |||||||||||||
TOTAL GOVERNMENT BONDS | (Cost $79,885,640) | 83,360,422 | 62.3 | |||||||||||
STRUCTURED ASSETS | ||||||||||||||
ASSET BACKED | ||||||||||||||
1,000,000 | Flagstar Home Equity Loan Trust Series 2007-1A | |||||||||||||
(Class AF3) | 5.780%, 01/25/35 | 800,293 | 0.7 | |||||||||||
Other | 2,473,960 | 1.7 | ||||||||||||
3,274,253 | 2.4 | |||||||||||||
64 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
BOND FUND n JUNE 30, 2010
Principal | Issuer | Value | % of net assets | |||||||||||
OTHER MORTGAGE BACKED | ||||||||||||||
$ 1,330,000 | i | Greenwich Capital Commercial Funding | ||||||||||||
Corp | 5.440%-6.090%, 07/10/38-12/10/49 | $ | 1,244,656 | 1.0 | % | |||||||||
Other | 4,542,980 | 3.4 | ||||||||||||
5,787,636 | 4.4 | |||||||||||||
TOTAL STRUCTURED ASSETS | (Cost $9,770,584) | 9,061,889 | 6.8 | |||||||||||
TOTAL BONDS | (Cost $124,780,685) | 129,281,000 | 96.7 | |||||||||||
Shares | ||||||||||||||
PREFERRED STOCKS | ||||||||||||||
AGENCY SECURITIES | 7,746 | 0.0 | ||||||||||||
TOTAL PREFERRED STOCKS | (Cost $569,550) | 7,746 | 0.0 | |||||||||||
TOTAL PORTFOLIO | (Cost $125,350,235) | 129,288,746 | 96.7 | |||||||||||
OTHER ASSETS & LIABILITIES, NET | 4,453,259 | 3.3 | ||||||||||||
NET ASSETS | $ | 133,742,005 | 100.0 | % | ||||||||||
g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/2010, the value of these securities amounted to $7,976,036 or 5.96% of net assets. |
h | These securities were purchased on a delayed delivery basis. |
i | Floating or variable rate security. Coupon rate reflects the rate at period end. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 65 |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED)
MONEY MARKET FUND n JUNE 30, 2010
Principal | Issuer | Value | % of net assets | |||||||||
SHORT-TERM INVESTMENTS | ||||||||||||
BANKERS’ ACCEPTANCES | ||||||||||||
$1,512,803 | US Bank NA | 08/10/10 | $ | 1,512,063 | 2.3 | % | ||||||
Other | 499,667 | 0.7 | ||||||||||
2,011,730 | 3.0 | |||||||||||
CERTIFICATE OF DEPOSIT | ||||||||||||
500,000 | Bank of Montreal | 0.280% 07/20/10 | 500,000 | 0.7 | ||||||||
830,000 | Bank of Nova Scotia | 0.440% 08/24/10 | 830,000 | 1.2 | ||||||||
500,000 | Barclays Bank plc | 0.580% 08/18/10 | 500,000 | 0.7 | ||||||||
500,000 | Toronto-Dominion Bank | 0.250% 07/08/10 | 500,000 | 0.7 | ||||||||
500,000 | Toronto-Dominion Bank | 0.320% 08/06/10 | 500,000 | 0.8 | ||||||||
800,000 | Toronto-Dominion Bank | 0.250%–0.450% 07/16/10–09/10/10 | 800,000 | 1.2 | ||||||||
Other | 750,000 | 1.1 | ||||||||||
4,380,000 | 6.4 | |||||||||||
COMMERCIAL PAPER | ||||||||||||
970,000 | American Honda Finance Corp | 08/24/10–09/22/10 | 969,355 | 1.4 | ||||||||
1,000,000 | Coca-Cola Co | 08/23/10–08/31/10 | 999,552 | 1.5 | ||||||||
1,215,000 | Commonwealth Bank of Australia | 09/10/10–09/29/10 | 1,213,704 | 1.8 | ||||||||
740,000 | Fairway Finance LLC | 07/13/10 | 739,926 | 1.1 | ||||||||
900,000 | Nestle Capital Corp | 07/13/10–07/20/10 | 899,901 | 1.3 | ||||||||
815,000 | Old Line Funding LLC | 07/09/10 | 814,954 | 1.3 | ||||||||
502,000 | Old Line Funding LLC | 09/07/10 | 501,555 | 0.7 | ||||||||
765,000 | Private Export Funding Corp | 07/12/10 | 764,947 | 1.2 | ||||||||
1,000,000 | Private Export Funding Corp | 08/05/10–08/19/10 | 999,721 | 1.4 | ||||||||
665,000 | Procter & Gamble International Funding S.C.A | 07/22/10 | 664,942 | 1.0 | ||||||||
820,000 | Royal Bank of Canada | 07/01/10 | 820,000 | 1.2 | ||||||||
760,000 | Royal Bank of Canada | 08/24/10 | 759,555 | 1.1 | ||||||||
900,000 | Sheffield Receivables Corp | 07/14/10–07/22/10 | 899,872 | 1.3 | ||||||||
700,000 | Straight-A Funding LLC | 09/09/10 | 699,469 | 1.0 | ||||||||
800,000 | Straight-A Funding LLC | 09/14/10 | 799,334 | 1.2 | ||||||||
Other | 4,049,888 | 5.9 | ||||||||||
16,596,675 | 24.4 | |||||||||||
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES | ||||||||||||
599,000 | Federal Home Loan Bank (FHLB) | 07/01/10 | 599,000 | 0.9 | ||||||||
638,000 | FHLB | 07/07/10 | 637,978 | 0.9 | ||||||||
500,000 | FHLB | 07/14/10 | 499,968 | 0.7 | ||||||||
1,040,000 | FHLB | 07/28/10 | 1,039,859 | 1.6 | ||||||||
900,000 | FHLB | 08/03/10 | 899,826 | 1.3 | ||||||||
700,000 | FHLB | 08/06/10 | 699,867 | 1.0 | ||||||||
775,000 | FHLB | 08/13/10 | 774,815 | 1.1 | ||||||||
776,000 | FHLB | 09/17/10 | 775,689 | 1.1 | ||||||||
1,000,000 | FHLB | 09/24/10 | 999,598 | 1.6 | ||||||||
2,028,000 | FHLB | 07/16/10–09/16/10 | 2,027,222 | 3.0 | ||||||||
1,350,000 | Federal Home Loan Mortgage Corp (FHLMC) | 07/02/10 | 1,349,993 | 2.0 | ||||||||
1,100,000 | FHLMC | 07/06/10 | 1,099,969 | 1.6 |
66 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
SUMMARY PORTFOLIO OF INVESTMENTS (UNAUDITED) | concluded |
MONEY MARKET FUND n JUNE 30, 2010
Principal | Issuer | Value | % of net assets | |||||||||
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES — continued | ||||||||||||
$1,365,000 | FHLMC | 07/26/10 | $ | 1,364,816 | 2.0 | % | ||||||
779,000 | FHLMC | 08/09/10 | 778,822 | 1.1 | ||||||||
998,000 | FHLMC | 08/16/10 | 997,694 | 1.5 | ||||||||
1,375,000 | FHLMC | 08/17/10 | 1,374,600 | 2.0 | ||||||||
710,000 | FHLMC | 08/18/10 | 709,785 | 1.0 | ||||||||
1,000,000 | FHLMC | 10/04/10 | 999,393 | 1.5 | ||||||||
2,000,000 | FHLMC | 10/20/10 | 1,998,767 | 2.9 | ||||||||
4,016,000 | FHLMC | 07/13/10–11/16/10 | 4,014,477 | 6.0 | ||||||||
500,000 | Federal National Mortgage Association (FNMA) | 07/06/10 | 499,988 | 0.7 | ||||||||
642,000 | FNMA | 07/28/10 | 641,898 | 0.9 | ||||||||
1,026,000 | FNMA | 08/11/10 | 1,025,777 | 1.5 | ||||||||
528,000 | FNMA | 08/31/10 | 527,776 | 0.8 | ||||||||
895,000 | FNMA | 09/22/10 | 894,546 | 1.3 | ||||||||
1,500,000 | FNMA | 10/05/10 | 1,499,108 | 2.3 | ||||||||
700,000 | FNMA | 10/13/10 | 699,373 | 1.0 | ||||||||
1,000,000 | FNMA | 12/01/10 | 998,458 | 1.5 | ||||||||
3,759,000 | FNMA | 07/09/10–04/11/11 | 3,756,848 | 5.5 | ||||||||
34,185,910 | 50.3 | |||||||||||
U.S. GOVERNMENT AND AGENCIES VARIABLE NOTES | ||||||||||||
1,000,000 | i | Federal Home Loan Bank (FHLB) | 0.300% 05/26/11 | 1,000,000 | 1.5 | |||||||
500,000 | i | FHLB | 0.350% 06/01/11 | 500,093 | 0.7 | |||||||
1,500,093 | 2.2 | |||||||||||
U.S. TREASURY BILLS | ||||||||||||
1,500,000 | United States Cash Management Bill | 07/15/10 | 1,499,907 | 2.2 | ||||||||
1,000,000 | United States Treasury Bill | 08/26/10 | 999,745 | 1.5 | ||||||||
1,365,000 | United States Treasury Bill | 09/30/10 | 1,364,364 | 2.0 | ||||||||
615,000 | United States Treasury Bill | 11/18/10 | 614,490 | 0.9 | ||||||||
2,410,000 | United States Treasury Bill | 07/29/10–11/26/10 | 2,409,044 | 3.5 | ||||||||
500,000 | United States Treasury Note | 2.750% 07/31/10 | 500,970 | 0.7 | ||||||||
500,000 | United States Treasury Note | 1.250% 11/30/10 | 501,998 | 0.7 | ||||||||
750,000 | United States Treasury Note | 0.880% 01/31/11 | 752,232 | 1.2 | ||||||||
8,642,750 | 12.7 | |||||||||||
TOTAL SHORT-TERM INVESTMENTS | (Cost $67,317,158) | 67,317,158 | 99.0 | |||||||||
TOTAL PORTFOLIO | (Cost $67,317,158) | 67,317,158 | 99.0 | |||||||||
OTHER ASSETS & LIABILITIES, NET | 701,769 | 1.0 | ||||||||||
NET ASSETS | $ | 68,018,927 | 100.0 | % | ||||||||
i | Floating or variable rate security. Coupon rate reflects the rate at period end. |
For ease of presentation, a number of industry classification categories have been grouped together in the Summary Portfolio of Investments. Note that the funds use more specific industry categories in their investment limitations in industry concentrations.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 67 |
STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED)
TIAA-CREF LIFE FUNDS n JUNE 30, 2010
Growth Equity Fund | ||||||
ASSETS | ||||||
Portfolio investments, at value* | $ | 30,574,256 | ||||
Cash | 343,891 | |||||
Cash – foreign** | — | |||||
Receivable from securities transactions | 785,112 | |||||
Receivable from Fund shares sold | 11,631 | |||||
Due from investment advisor | 7,795 | |||||
Dividends and interest receivable | 28,105 | |||||
Other | 1,563 | |||||
Total assets | 31,752,353 | |||||
LIABILITIES | ||||||
Management fees payable | 12,236 | |||||
Overdraft payable | — | |||||
Payable for securities transactions | 959,699 | |||||
Payable for Fund shares redeemed | 81,404 | |||||
Due to affiliates | 2,612 | |||||
Accrued expense & other payables | 13,357 | |||||
Total liabilities | 1,069,308 | |||||
NET ASSETS | $ | 30,683,045 | ||||
NET ASSETS CONSIST OF: | ||||||
Paid-in-capital | $ | 63,549,621 | ||||
Undistributed net investment income (loss) | 108,939 | |||||
Accumulated net realized gain (loss) on total investments | (31,835,815 | ) | ||||
Net unrealized appreciation (depreciation) on total investments | (1,139,700 | ) | ||||
NET ASSETS | $ | 30,683,045 | ||||
Outstanding shares of beneficial interest, | 2,379,158 | |||||
Net asset value per share | $12.90 | |||||
* Portfolio investments, cost: | $ | 31,714,568 | ||||
** Foreign cash, cost: | $ | 1 |
68 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
Growth & Fund | International Equity Fund | Large-Cap Value Fund | Small-Cap Equity Fund | |||||||||||||
$ | 59,646,085 | $ | 79,204,137 | $ | 51,512,224 | $ | 44,092,899 | |||||||||
299,170 | 2,212,174 | — | — | |||||||||||||
— | 274,863 | 1,419 | — | |||||||||||||
524,501 | 504,398 | 2,275,779 | 797,118 | |||||||||||||
— | 33,729 | 15,602 | 23,925 | |||||||||||||
10,609 | 19,033 | 10,864 | 9,377 | |||||||||||||
74,336 | 148,263 | 86,690 | 38,316 | |||||||||||||
1,852 | 2,045 | 1,724 | 1,631 | |||||||||||||
60,556,553 | 82,398,642 | 53,904,302 | 44,963,266 | |||||||||||||
23,559 | 34,198 | 20,302 | 18,375 | |||||||||||||
— | — | 1,599,615 | 3,980 | |||||||||||||
569,825 | 934,698 | 715,673 | 806,095 | |||||||||||||
60,130 | 280 | 24,765 | 187 | |||||||||||||
5,205 | 7,359 | 3,935 | 2,849 | |||||||||||||
16,474 | 33,574 | 15,948 | 14,853 | |||||||||||||
675,193 | 1,010,109 | 2,380,238 | 846,339 | |||||||||||||
$ | 59,881,360 | $ | 81,388,533 | $ | 51,524,064 | $ | 44,116,927 | |||||||||
$ | 76,116,117 | $ | 140,220,211 | $ | 70,863,267 | $ | 56,787,622 | |||||||||
491,665 | 2,022,014 | 976,046 | 171,274 | |||||||||||||
(12,770,599 | ) | (55,758,346 | ) | (14,240,453 | ) | (11,378,850 | ) | |||||||||
(3,955,823 | ) | (5,095,346 | ) | (6,074,796 | ) | (1,463,119 | ) | |||||||||
$ | 59,881,360 | $ | 81,388,533 | $ | 51,524,064 | $ | 44,116,927 | |||||||||
| 2,802,402 | | 6,180,341 | 2,357,010 | 1,983,716 | |||||||||||
$21.37 | $13.17 | $21.86 | $22.24 | |||||||||||||
$ | 63,601,859 | $ | 84,298,483 | $ | 57,586,394 | $ | 45,586,862 | |||||||||
$ | — | $ | 275,601 | $ | 1,449 | $ | — |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 69 |
STATEMENTS OF ASSETS AND LIABILITIES (UNAUDITED)
TIAA-CREF LIFE FUNDS n JUNE 30, 2010
Stock Index Fund | ||||||
ASSETS | ||||||
Portfolio investments, at value* | $ | 140,250,738 | ||||
Cash | — | |||||
Cash – foreign** | — | |||||
Receivable from securities transactions | 328,900 | |||||
Receivable from Fund shares sold | 2,160 | |||||
Due from investment advisor | 23,880 | |||||
Dividends and interest receivable | 184,372 | |||||
Other | 2,587 | |||||
Total assets | 140,792,637 | |||||
LIABILITIES | ||||||
Management fees payable | 7,356 | |||||
Overdraft payable | 320,741 | |||||
Payable for securities transactions | 28 | |||||
Payable for Fund shares redeemed | 30,103 | |||||
Due to affiliates | 11,411 | |||||
Accrued expense & other payables | 26,875 | |||||
Total liabilities | 396,514 | |||||
NET ASSETS | $ | 140,396,123 | ||||
NET ASSETS CONSIST OF: | ||||||
Paid-in-capital | $ | 160,963,523 | ||||
Undistributed net investment income (loss) | 1,918,346 | |||||
Accumulated net realized gain (loss) on total Investments | (7,397,467 | ) | ||||
Net unrealized appreciation (depreciation) on total investments | (15,088,279 | ) | ||||
NET ASSETS | $ | 140,396,123 | ||||
Outstanding shares of beneficial interest, | 6,108,836 | |||||
Net asset value per share | $22.98 | |||||
* Portfolio investments, cost: | $ | 155,339,017 | ||||
** Foreign cash, cost: | $ | — |
70 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
concluded |
Social Choice Equity Fund | Real Estate Securities Fund | Bond Fund | Money Market Fund | ||||||||||||
$ | 29,290,557 | $ | 57,940,195 | $ | 129,288,746 | $ | 67,317,158 | ||||||||
119,933 | 203,150 | 6,279,317 | 324 | ||||||||||||
— | — | — | — | ||||||||||||
186,646 | — | 71,493 | — | ||||||||||||
124,987 | 30,861 | 146,090 | 1,231,203 | ||||||||||||
7,351 | 7,489 | 19,900 | 17,788 | ||||||||||||
44,709 | 161,450 | 901,745 | 13,311 | ||||||||||||
1,542 | 1,690 | 2,286 | 2,104 | ||||||||||||
29,775,725 | 58,344,835 | 136,709,577 | 68,581,888 | ||||||||||||
3,835 | 25,253 | 32,455 | 5,557 | ||||||||||||
— | — | — | — | ||||||||||||
224,557 | — | 2,900,412 | — | ||||||||||||
92 | 192 | 27 | 523,314 | ||||||||||||
2,209 | 2,694 | 8,907 | 11,469 | ||||||||||||
12,792 | 14,253 | 25,771 | 22,621 | ||||||||||||
243,485 | 42,392 | 2,967,572 | 562,961 | ||||||||||||
$ | 29,532,240 | $ | 58,302,443 | $ | 133,742,005 | $ | 68,018,927 | ||||||||
$ | 34,743,607 | $ | 84,181,959 | $ | 130,122,496 | $ | 68,018,382 | ||||||||
483,103 | 569,001 | 2,429,869 | 71 | ||||||||||||
(2,889,534 | ) | (22,201,386 | ) | (2,748,871 | ) | 474 | |||||||||
(2,804,936 | ) | (4,247,131 | ) | 3,938,511 | — | ||||||||||
$ | 29,532,240 | $ | 58,302,443 | $ | 133,742,005 | $ | 68,018,927 | ||||||||
| 1,426,524 | | 2,969,160 | 5,258,659 | 68,018,383 | ||||||||||
$20.70 | $19.64 | $25.43 | $1.00 | ||||||||||||
$ | 32,095,493 | $ | 62,187,283 | $ | 125,350,235 | $ | 67,317,158 | ||||||||
$ | — | $ | 1 | $ | — | $ | — |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 71 |
STATEMENTS OF OPERATIONS (UNAUDITED)
TIAA-CREF LIFE FUNDS n FOR THE PERIOD ENDED JUNE 30, 2010
Growth Equity Fund | ||||||
INVESTMENT INCOME | ||||||
Dividends* | $ | 160,993 | ||||
Interest | 22 | |||||
Total income | 161,015 | |||||
EXPENSES | ||||||
Management fees | 54,901 | |||||
Fund administration fees | 4,024 | |||||
Custody and accounting fees | 3,215 | |||||
Professional Fees | 6,867 | |||||
Shareholder Reports | 1,950 | |||||
Trustee fees and expenses | 194 | |||||
Compliance fees | 1,131 | |||||
Interest expense | 558 | |||||
Other expenses | 908 | |||||
Total expenses | 73,748 | |||||
Less: Expenses reimbursed by the investment advisor | (14,282 | ) | ||||
Net expenses | 59,466 | |||||
Net investment income (loss) | 101,549 | |||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS | ||||||
Realized gain (loss): | ||||||
Portfolio investments | 1,876,977 | |||||
Futures transactions | — | |||||
Foreign currency transactions | (129 | ) | ||||
Net realized gain (loss) on total investments | 1,876,848 | |||||
Change in unrealized appreciation (depreciation) on: | ||||||
Portfolio investments | (5,046,709 | ) | ||||
Futures transactions | — | |||||
Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies | 613 | |||||
Net change in unrealized appreciation (depreciation) on total investments | (5,046,096 | ) | ||||
Net realized and unrealized gain (loss) on total investments | (3,169,248 | ) | ||||
Net increase (decrease) in net assets resulting from operations | $ | (3,067,699 | ) | |||
* Net of foreign withholding taxes of: | $ | 6,552 |
72 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
Growth & Income Fund | International Fund | Large-Cap Fund | Small-Cap Fund | |||||||||||||
$ | 527,009 | $ | 1,107,740 | $ | 528,512 | $ | 254,488 | |||||||||
47 | — | 41 | 56 | |||||||||||||
527,056 | 1,107,740 | 528,553 | 254,544 | |||||||||||||
99,768 | 158,769 | 87,719 | 53,577 | |||||||||||||
7,873 | 10,604 | 6,390 | 5,036 | |||||||||||||
4,569 | 19,058 | 6,964 | 5,885 | |||||||||||||
7,233 | 9,156 | 7,082 | 6,946 | |||||||||||||
3,973 | 5,018 | 3,040 | 2,493 | |||||||||||||
357 | 604 | 306 | 241 | |||||||||||||
2,212 | 2,980 | 1,795 | 1,415 | |||||||||||||
31 | 1,910 | 756 | 195 | |||||||||||||
943 | 2,581 | 929 | 1,009 | |||||||||||||
126,959 | 210,680 | 114,981 | 76,797 | |||||||||||||
(19,195 | ) | (35,661 | ) | (19,863 | ) | (17,252 | ) | |||||||||
107,764 | 175,019 | 95,118 | 59,545 | |||||||||||||
419,292 | 932,721 | 433,435 | 194,999 | |||||||||||||
2,117,741 | 382,208 | 2,879,300 | 3,023,049 | |||||||||||||
— | — | — | 4,128 | |||||||||||||
(960 | ) | (12,692 | ) | 4,079 | — | |||||||||||
2,116,781 | 369,516 | 2,883,379 | 3,027,177 | |||||||||||||
(7,913,713 | ) | (9,964,018 | ) | (6,330,683 | ) | (4,373,440 | ) | |||||||||
— | — | — | — | |||||||||||||
| 8 |
| (59,224 | ) | (635 | ) | — | |||||||||
(7,913,705 | ) | (10,023,242 | ) | (6,331,318 | ) | (4,373,440 | ) | |||||||||
(5,796,924 | ) | (9,653,726 | ) | (3,447,939 | ) | (1,346,263 | ) | |||||||||
$ | (5,377,632 | ) | $ | (8,721,005 | ) | $ | (3,014,504 | ) | $ | (1,151,264 | ) | |||||
$ | 3,923 | $ | 141,333 | $ | 3,124 | $ | — |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 73 |
STATEMENTS OF OPERATIONS (UNAUDITED)
TIAA-CREF LIFE FUNDS n FOR THE PERIOD ENDED JUNE 30, 2010
Stock Index Fund | ||||||
INVESTMENT INCOME | ||||||
Dividends* | $ | 1,403,773 | ||||
Interest | 191 | |||||
Total income | 1,403,964 | |||||
EXPENSES | ||||||
Management fees | 46,035 | |||||
Fund administration fees | 17,800 | |||||
Custody and accounting fees | 9,701 | |||||
Professional Fees | 9,025 | |||||
Shareholder Reports | 8,645 | |||||
Trustee fees and expenses | 913 | |||||
Compliance fees | 5,002 | |||||
Interest expense | 128 | |||||
Other expenses | 1,121 | |||||
Total expenses | 98,370 | |||||
Less: Expenses reimbursed by the investment advisor | (43,872 | ) | ||||
Net expenses | 54,498 | |||||
Net investment income (loss) | 1,349,466 | |||||
NET REALIZED AND UNREALIZED GAIN (LOSS) ON TOTAL INVESTMENTS | ||||||
Realized gain (loss): | ||||||
Portfolio investments | 2,483,498 | |||||
Futures transactions | 41,969 | |||||
Foreign currency transactions | — | |||||
Net realized gain (loss) on total investments | 2,525,467 | |||||
Change in unrealized appreciation (depreciation) on: | ||||||
Portfolio investments | (12,839,619 | ) | ||||
Futures transactions | (15,841 | ) | ||||
Translation of assets (other than portfolio investments) and liabilities denominated in foreign currencies | — | |||||
Net change in unrealized appreciation (depreciation) on total investments | (12,855,460 | ) | ||||
Net realized and unrealized gain (loss) on total investments | (10,329,993 | ) | ||||
Net increase (decrease) in net assets resulting from operations | $ | (8,980,527 | ) | |||
* Net of foreign withholding taxes of: | $ | 4 |
74 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
concluded |
Social Choice Equity Fund | Real Estate Securities Fund | Bond Fund | Money Market Fund | |||||||||||||
$ | 302,800 | $ | 734,270 | $ | — | $ | — | |||||||||
1 | 116 | 2,527,904 | 81,764 | |||||||||||||
302,801 | 734,386 | 2,527,904 | 81,764 | |||||||||||||
15,317 | 98,428 | 105,083 | 24,915 | |||||||||||||
3,577 | 5,730 | 14,339 | 12,824 | |||||||||||||
3,315 | 1,766 | 11,354 | 3,229 | |||||||||||||
6,812 | 7,849 | 9,594 | 9,247 | |||||||||||||
1,743 | 2,699 | 7,444 | 8,692 | |||||||||||||
172 | 302 | 635 | 278 | |||||||||||||
1,005 | 1,610 | 4,029 | 3,603 | |||||||||||||
1 | 255 | 99 | 6 | |||||||||||||
996 | 1,019 | 812 | 823 | |||||||||||||
32,938 | 119,658 | 153,389 | 63,617 | |||||||||||||
(13,659 | ) | (13,444 | ) | (36,883 | ) | (32,785 | ) | |||||||||
19,279 | 106,214 | 116,506 | 30,832 | |||||||||||||
283,522 | 628,172 | 2,411,398 | 50,932 | |||||||||||||
(85,165 | ) | 3,015,209 | 484,518 | 136 | ||||||||||||
— | — | — | — | |||||||||||||
— | — | — | — | |||||||||||||
(85,165 | ) | 3,015,209 | 484,518 | 136 | ||||||||||||
(2,054,234 | ) | (334,772 | ) | 3,653,001 | — | |||||||||||
— | — | — | — | |||||||||||||
| — |
| (11 | ) | — | — | ||||||||||
(2,054,234 | ) | (334,783 | ) | 3,653,001 | — | |||||||||||
(2,139,399 | ) | 2,680,426 | 4,137,519 | 136 | ||||||||||||
$ | (1,855,877 | ) | $ | 3,308,598 | $ | 6,548,917 | $ | 51,068 | ||||||||
$ | — | $ | — | $ | — | $ | — |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 75 |
STATEMENTS OF CHANGES IN NET ASSETS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED
Growth Equity Fund | ||||||||||
June 30, 2010 | December 31, 2009 | |||||||||
(unaudited) | ||||||||||
OPERATIONS | ||||||||||
Net investment income (loss) | $ | 101,549 | $ | 277,055 | ||||||
Net realized gain (loss) on total investments | 1,876,848 | (980,577 | ) | |||||||
Net change in unrealized appreciation (depreciation) on total investments | (5,046,096 | ) | 9,719,115 | |||||||
Net increase (decrease) in net assets resulting from operations | (3,067,699 | ) | 9,015,593 | |||||||
DISTRIBUTION TO SHAREHOLDERS | ||||||||||
From net investment income | — | (276,980 | ) | |||||||
From realized gains | — | — | ||||||||
Total distributions | — | (276,980 | ) | |||||||
SHAREHOLDER TRANSACTIONS | ||||||||||
Subscriptions | 2,607,824 | 9,511,525 | ||||||||
Reinvestments of distributions | — | 276,980 | ||||||||
Redemptions | (5,087,128 | ) | (6,797,786 | ) | ||||||
Net increase (decrease) from shareholder transactions | (2,479,304 | ) | 2,990,719 | |||||||
Net increase (decrease) in net assets | (5,547,003 | ) | 11,729,332 | |||||||
NET ASSETS | ||||||||||
Beginning of period | 36,230,048 | 24,500,716 | ||||||||
End of period | $ | 30,683,045 | $ | 36,230,048 | ||||||
Undistributed net investment income (loss) included in net assets | $ | 108,939 | $ | 7,390 | ||||||
CHANGE IN FUND SHARES | ||||||||||
Shares sold | 181,235 | 809,825 | ||||||||
Shares reinvested | — | 19,898 | ||||||||
Shares redeemed | (356,207 | ) | (597,486 | ) | ||||||
Net increase (decrease) from shareholder transactions | (174,972 | ) | 232,237 |
76 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
Growth & Income Fund | International Equity Fund | |||||||||||||||
June 30, 2010 | December 31, 2009 | June 30, 2010 | December 31, 2009 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
$ | 419,292 | $ | 1,000,541 | $ | 932,721 | $ | 1,336,744 | |||||||||
2,116,781 | (2,191,964 | ) | 369,516 | (10,120,683 | ) | |||||||||||
(7,913,705 | ) | 15,372,756 | (10,023,242 | ) | 30,456,804 | |||||||||||
(5,377,632 | ) | 14,181,333 | (8,721,005 | ) | 21,672,865 | |||||||||||
— | (1,005,255 | ) | — | (2,924,055 | ) | |||||||||||
— | — | — | — | |||||||||||||
— | (1,005,255 | ) | — | (2,924,055 | ) | |||||||||||
3,520,682 | 5,732,470 | 6,176,824 | 12,923,095 | |||||||||||||
— | 1,005,255 | — | 2,924,055 | |||||||||||||
(3,980,756 | ) | (7,429,832 | ) | (10,082,518 | ) | (8,820,527 | ) | |||||||||
(460,074 | ) | (692,107 | ) | (3,905,694 | ) | 7,026,623 | ||||||||||
(5,837,706 | ) | 12,483,971 | (12,626,699 | ) | 25,775,433 | |||||||||||
65,719,066 | 53,235,095 | 94,015,232 | 68,239,799 | |||||||||||||
$ | 59,881,360 | $ | 65,719,066 | $ | 81,388,533 | | $ | 94,015,232 | ||||||||
$ | 491,665 | $ | 72,373 | $ | 2,022,014 | $ | 1,089,293 | |||||||||
148,242 | 282,903 | 432,546 | 1,040,957 | |||||||||||||
— | 43,764 | — | 205,341 | |||||||||||||
(169,900 | ) | (380,005 | ) | (702,135 | ) | (766,561 | ) | |||||||||
(21,658 | ) | (53,338 | ) | (269,589 | ) | 479,737 |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 77 |
STATEMENTS OF CHANGES IN NET ASSETS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED
Large-Cap Value Fund | ||||||||||
June 30, 2010 | December 31, 2009 | |||||||||
(unaudited) | ||||||||||
OPERATIONS | ||||||||||
Net investment income (loss) | $ | 433,435 | $ | 959,424 | ||||||
Net realized gain (loss) on total investments | 2,883,379 | 2,472,091 | ||||||||
Net change in unrealized appreciation (depreciation) on total investments | (6,331,318 | ) | 9,297,433 | |||||||
Net increase (decrease) in net assets resulting from operations | (3,014,504 | ) | 12,728,948 | |||||||
DISTRIBUTION TO SHAREHOLDERS | ||||||||||
From net investment income | — | (879,669 | ) | |||||||
From realized gains | — | — | ||||||||
Total distributions | — | (879,669 | ) | |||||||
SHAREHOLDER TRANSACTIONS | ||||||||||
Subscriptions | 5,264,148 | 9,279,319 | ||||||||
Reinvestments of distributions | — | 879,669 | ||||||||
Redemptions | (5,172,280 | ) | (7,863,888 | ) | ||||||
Net increase (decrease) from shareholder transactions | 91,868 | 2,295,100 | ||||||||
Net increase (decrease) in net assets | (2,922,636 | ) | 14,144,379 | |||||||
NET ASSETS | ||||||||||
Beginning of period | 54,446,700 | 40,302,321 | ||||||||
End of period | $ | 51,524,064 | $ | 54,446,700 | ||||||
Undistributed net investment income (loss) included in net assets | $ | 976,046 | $ | 542,611 | ||||||
CHANGE IN FUND SHARES | ||||||||||
Shares sold | 215,340 | 471,071 | ||||||||
Shares reinvested | — | 38,447 | ||||||||
Shares redeemed | (214,696 | ) | (408,075 | ) | ||||||
Net increase (decrease) from shareholder transactions | 644 | 101,443 |
78 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
continued |
Small-Cap Equity Fund | Stock Index Fund | |||||||||||||||
June 30, 2010 | December 31, 2009 | June 30, 2010 | December 31, 2009 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
$ | 194,999 | $ | 476,341 | $ | 1,349,466 | $ | 2,661,703 | |||||||||
3,027,177 | (4,279,466 | ) | 2,525,467 | (2,105,824 | ) | |||||||||||
(4,373,440 | ) | 13,023,616 | (12,855,460 | ) | 32,930,241 | |||||||||||
(1,151,264 | ) | 9,220,491 | (8,980,527 | ) | 33,486,120 | |||||||||||
— | (516,207 | ) | — | (2,599,545 | ) | |||||||||||
— | — | — | — | |||||||||||||
— | (516,207 | ) | — | (2,599,545 | ) | |||||||||||
6,124,017 | 3,720,679 | 8,232,190 | 20,777,504 | |||||||||||||
— | 516,207 | — | 2,599,545 | |||||||||||||
(3,776,667 | ) | (4,629,229 | ) | (11,169,374 | ) | (14,888,237 | ) | |||||||||
2,347,350 | (392,343 | ) | (2,937,184 | ) | 8,488,812 | |||||||||||
1,196,086 | 8,311,941 | (11,917,711 | ) | 39,375,387 | ||||||||||||
42,920,841 | 34,608,900 | 152,313,834 | 112,938,447 | |||||||||||||
$ | 44,116,927 | $ | 42,920,841 | $ | 140,396,123 | $ | 152,313,834 | |||||||||
$ | 171,274 | $ | (23,725 | ) | $ | 1,918,346 | $ | 568,880 | ||||||||
247,654 | 199,788 | 327,482 | 1,060,212 | |||||||||||||
— | 23,284 | — | 107,731 | |||||||||||||
(154,695 | ) | (255,684 | ) | (446,427 | ) | (763,487 | ) | |||||||||
92,959 | (32,612 | ) | (118,945 | ) | 404,456 |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 79 |
STATEMENTS OF CHANGES IN NET ASSETS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED
Social Choice Equity Fund | ||||||||||
June 30, 2010 | December 31, 2009 | |||||||||
(unaudited) | ||||||||||
OPERATIONS | ||||||||||
Net investment income (loss) | $ | 283,522 | $ | 557,332 | ||||||
Net realized gain (loss) on total investments | (85,165 | ) | (1,685,462 | ) | ||||||
Net change in unrealized appreciation (depreciation) on total investments | (2,054,234 | ) | 8,615,710 | |||||||
Net increase (decrease) in net assets resulting from operations | (1,855,877 | ) | 7,487,580 | |||||||
DISTRIBUTION TO SHAREHOLDERS | ||||||||||
From net investment income | — | (569,669 | ) | |||||||
From realized gains | — | — | ||||||||
Total distributions | — | (569,669 | ) | |||||||
SHAREHOLDER TRANSACTIONS | ||||||||||
Subscriptions | 1,183,767 | 1,839,152 | ||||||||
Reinvestments of distributions | — | 569,669 | ||||||||
Redemptions | (724,674 | ) | (2,335,259 | ) | ||||||
Net increase (decrease) from shareholder transactions | 459,093 | 73,562 | ||||||||
Net increase (decrease) in net assets | (1,396,784 | ) | 6,991,473 | |||||||
NET ASSETS | ||||||||||
Beginning of period | 30,929,024 | 23,937,551 | ||||||||
End of period | $ | 29,532,240 | $ | 30,929,024 | ||||||
Undistributed net investment income (loss) included in net assets | $ | 483,103 | $ | 199,581 | ||||||
CHANGE IN FUND SHARES | ||||||||||
Shares sold | 52,190 | 99,713 | ||||||||
Shares reinvested | — | 26,252 | ||||||||
Shares redeemed | (32,463 | ) | (135,063 | ) | ||||||
Net increase (decrease) from shareholder transactions | 19,727 | (9,098 | ) |
80 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
continued |
Real Estate Securities Fund | Bond Fund | |||||||||||||||
June 30, 2010 | December 31, 2009 | June 30, 2010 | December 31, 2009 | |||||||||||||
(unaudited) | (unaudited) | |||||||||||||||
$ | 628,172 | $ | 1,362,613 | $ | 2,411,398 | $ | 4,532,380 | |||||||||
3,015,209 | (2,146,638 | ) | 484,518 | 673,755 | ||||||||||||
(334,783 | ) | 11,435,582 | 3,653,001 | 2,202,359 | ||||||||||||
| 3,308,598 | | 10,651,557 | 6,548,917 | 7,408,494 | |||||||||||
— | (1,742,222 | ) | — | (4,516,061 | ) | |||||||||||
— | — | — | — | |||||||||||||
— | (1,742,222 | ) | — | (4,516,061 | ) | |||||||||||
4,926,026 | 4,350,296 | 18,350,853 | 25,171,346 | |||||||||||||
— | 1,742,222 | — | 4,516,061 | |||||||||||||
(3,497,038 | ) | (5,082,859 | ) | (7,022,830 | ) | (8,667,599 | ) | |||||||||
1,428,988 | 1,009,659 | 11,328,023 | 21,019,808 | |||||||||||||
4,737,586 | 9,918,994 | 17,876,940 | 23,912,241 | |||||||||||||
53,564,857 | 43,645,863 | 115,865,065 | 91,952,824 | |||||||||||||
$ | 58,302,443 | $ | 53,564,857 | $ | 133,742,005 | $ | 115,865,065 | |||||||||
$ | 569,001 | | $ | (59,171 | ) | $ | 2,429,869 | $ | 18,471 | |||||||
243,782 | 325,249 | 742,076 | 1,042,646 | |||||||||||||
— | 96,683 | — | 185,388 | |||||||||||||
(181,593 | ) | (377,937 | ) | (284,475 | ) | (360,265 | ) | |||||||||
62,189 | 43,995 | 457,601 | 867,769 |
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 81 |
STATEMENTS OF CHANGES IN NET ASSETS | concluded |
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED
Money Market Fund | ||||||||
June 30, 2010 | December 31, 2009 | |||||||
(unaudited) | ||||||||
OPERATIONS | ||||||||
Net investment income (loss) | $ | 50,932 | $ | 582,287 | ||||
Net realized gain (loss) on total investments | 136 | 1,301 | ||||||
Net change in unrealized appreciation (depreciation) on total investments | — | — | ||||||
Net increase (decrease) in net assets resulting from operations | 51,068 | 583,588 | ||||||
DISTRIBUTION TO SHAREHOLDERS | ||||||||
From net investment income | (50,932 | ) | (583,331 | ) | ||||
From realized gains | — | — | ||||||
Total distributions | (50,932 | ) | (583,331 | ) | ||||
SHAREHOLDER TRANSACTIONS | ||||||||
Subscriptions | 26,976,868 | 73,630,960 | ||||||
Reinvestments of distributions | 50,932 | 583,334 | ||||||
Redemptions | (33,110,560 | ) | (117,434,730 | ) | ||||
Net increase (decrease) from shareholder transactions | (6,082,760 | ) | (43,220,436 | ) | ||||
Net decrease in net assets | (6,082,624 | ) | (43,220,179 | ) | ||||
NET ASSETS | ||||||||
Beginning of period | 74,101,551 | 117,321,730 | ||||||
End of period | $ | 68,018,927 | $ | 74,101,551 | ||||
Undistributed net investment income (loss) included in net assets | $ | 71 | $ | 71 | ||||
CHANGE IN FUND SHARES | ||||||||
Shares sold | 26,976,868 | 73,630,960 | ||||||
Shares reinvested | 50,932 | 583,334 | ||||||
Shares redeemed | (33,110,560 | ) | (117,434,730 | ) | ||||
Net increase (decrease) from shareholder transactions | (6,082,760 | ) | (43,220,436 | ) |
82 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED
Growth Equity Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 14.18 | $ | 10.55 | $ | 18.02 | $ | 14.91 | $ | 14.23 | $ | 13.58 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.04 | 0.11 | 0.14 | 0.13 | 0.11 | 0.09 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | (1.32 | ) | 3.63 | (7.48 | ) | 3.10 | 0.69 | 0.65 | ||||||||||||||||
Total gain (loss) from investment operations | (1.28 | ) | 3.74 | (7.34 | ) | 3.23 | 0.80 | 0.74 | ||||||||||||||||
Less distributions from: |
| |||||||||||||||||||||||
Net investment income | — | (0.11 | ) | (0.13 | ) | (0.12 | ) | (0.12 | ) | (0.09 | ) | |||||||||||||
Net realized gains | — | — | — | — | — | — | ||||||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.11 | ) | (0.13 | ) | (0.12 | ) | (0.12 | ) | (0.09 | ) | |||||||||||||
Net asset value, end of period | $ | 12.90 | $ | 14.18 | $ | 10.55 | $ | 18.02 | $ | 14.91 | $ | 14.23 | ||||||||||||
TOTAL RETURN | (9.03% | )(b) | 35.47% | (40.71% | ) | 21.68% | 5.62% | 5.43% | ||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 30,683 | $ | 36,230 | $ | 24,501 | $ | 42,376 | $ | 28,180 | $ | 29,517 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.42% | (c) | 0.26% | 0.28% | 0.26% | 0.25% | 0.26% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.34% | (c) | 0.26% | 0.28% | 0.26% | 0.25% | 0.26% | |||||||||||||||||
Ratio of net investment income to average net assets | 0.58% | (c) | 0.98% | 0.98% | 0.81% | 0.79% | 0.66% | |||||||||||||||||
Portfolio turnover rate | 98% | (b) | 257% | 253% | 154% | 98% | 106% | |||||||||||||||||
See notes to financial highlights.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 83 |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Growth & Income Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 23.27 | $ | 18.50 | $ | 29.06 | $ | 24.82 | $ | 21.56 | $ | 20.49 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.15 | 0.36 | 0.46 | 0.43 | 0.37 | 0.29 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | (2.05 | ) | 4.77 | (10.58 | ) | 4.21 | 3.26 | 1.06 | ||||||||||||||||
Total gain (loss) from investment operations | (1.90 | ) | 5.13 | (10.12 | ) | 4.64 | 3.63 | 1.35 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.36 | ) | (0.44 | ) | (0.40 | ) | (0.37 | ) | (0.28 | ) | |||||||||||||
Net realized gains | — | — | — | — | — | — | ||||||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.36 | ) | (0.44 | ) | (0.40 | ) | (0.37 | ) | (0.28 | ) | |||||||||||||
Net asset value, end of period | $ | 21.37 | $ | 23.27 | $ | 18.50 | $ | 29.06 | $ | 24.82 | $ | 21.56 | ||||||||||||
TOTAL RETURN | (8.17% | )(b) | 27.76% | (34.80%) | 18.68% | 16.85% | 6.57% | |||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 59,881 | $ | 65,719 | $ | 53,235 | $ | 83,834 | $ | 59,798 | $ | 51,627 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.39% | (c) | 0.23% | 0.23% | 0.24% | 0.23% | 0.23% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.33% | (c) | 0.23% | 0.23% | 0.24% | 0.23% | 0.23% | |||||||||||||||||
Ratio of net investment income to average net assets | 1.27% | (c) | 1.77% | 1.87% | 1.56% | 1.63% | 1.41% | |||||||||||||||||
Portfolio turnover rate | 69% | (b) | 141% | 135% | 88% | 119% | 205% | |||||||||||||||||
See notes to financial highlights.
84 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
International Equity Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 14.58 | $ | 11.43 | $ | 24.02 | $ | 25.01 | $ | 19.54 | $ | 17.25 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.15 | 0.22 | 0.51 | 0.42 | 0.35 | 0.31 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | (1.56 | ) | 3.40 | (12.53 | ) | 4.26 | 5.50 | 2.28 | ||||||||||||||||
Total gain (loss) from investment operations | (1.41 | ) | 3.62 | (12.02 | ) | 4.68 | 5.85 | 2.59 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.47 | ) | (0.01 | ) | (0.53 | ) | (0.38 | ) | (0.30 | ) | |||||||||||||
Net realized gains | — | — | (0.56 | ) | (5.14 | ) | — | — | ||||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.47 | ) | (0.57 | ) | (5.67 | ) | (0.38 | ) | (0.30 | ) | |||||||||||||
Net asset value, end of period | $ | 13.17 | $ | 14.58 | $ | 11.43 | $ | 24.02 | $ | 25.01 | $ | 19.54 | ||||||||||||
TOTAL RETURN | (9.67% | )(b) | 31.74% | (50.00% | ) | 19.34% | 29.95% | 15.01% | ||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 81,389 | $ | 94,015 | $ | 68,240 | $ | 160,045 | $ | 111,142 | $ | 72,597 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.47% | (c) | 0.30% | 0.32% | 0.33% | 0.29% | 0.31% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.39% | (c) | 0.30% | 0.32% | 0.33% | 0.29% | 0.31% | |||||||||||||||||
Ratio of net investment income to average net assets | 2.09% | (c) | 1.78% | 2.79% | 1.51% | 1.59% | 1.75% | |||||||||||||||||
Portfolio turnover rate | 68% | (b) | 116% | 185% | 190% | 146% | 153% | |||||||||||||||||
See notes to financial highlights.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 85 |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Large-Cap Value Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 23.11 | $ | 17.87 | $ | 31.30 | $ | 36.02 | $ | 32.04 | $ | 33.07 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.18 | 0.42 | 0.66 | 0.71 | 0.64 | 0.72 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | (1.43 | ) | 5.20 | (13.42 | ) | (0.34 | ) | 6.26 | 0.95 | |||||||||||||||
Total gain (loss) from investment operations | (1.25 | ) | 5.62 | (12.76 | ) | 0.37 | 6.90 | 1.67 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.38 | ) | (0.43 | ) | (0.76 | ) | (0.61 | ) | (0.70 | ) | |||||||||||||
Net realized gains | — | — | (0.24 | ) | (4.33 | ) | (2.31 | ) | (2.00 | ) | ||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.38 | ) | (0.67 | ) | (5.09 | ) | (2.92 | ) | (2.70 | ) | |||||||||||||
Net asset value, end of period | $ | 21.86 | $ | 23.11 | $ | 17.87 | $ | 31.30 | $ | 36.02 | $ | 32.04 | ||||||||||||
TOTAL RETURN | (5.41% | )(b) | 31.45% | (40.74% | ) | 0.91% | 21.58% | 4.94% | ||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 51,524 | $ | 54,447 | $ | 40,302 | $ | 71,350 | $ | 66,917 | $ | 49,028 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.41% | (c) | 0.25% | 0.26% | 0.27% | 0.24% | 0.25% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.34% | (c) | 0.25% | 0.26% | 0.27% | 0.24% | 0.25% | |||||||||||||||||
Ratio of net investment income to average net assets | 1.53% | (c) | 2.12% | 2.60% | 1.88% | 1.83% | 2.17% | |||||||||||||||||
Portfolio turnover rate | 59% | (b) | 149% | 172% | 133% | 102% | 112% | |||||||||||||||||
See notes to financial highlights.
86 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Small-Cap Equity Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 22.70 | $ | 17.99 | $ | 27.17 | $ | 32.12 | $ | 30.02 | $ | 33.43 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.10 | 0.25 | 0.34 | 0.37 | 0.37 | 0.33 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | (0.56 | ) | 4.74 | (9.16 | ) | (2.10 | ) | 4.95 | 1.30 | |||||||||||||||
Total gain (loss) from investment operations | (0.46 | ) | 4.99 | (8.82 | ) | (1.73 | ) | 5.32 | 1.63 | |||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.28 | ) | (0.36 | ) | (0.44 | ) | (0.38 | ) | (0.37 | ) | |||||||||||||
Net realized gains | — | — | — | (2.69 | ) | (2.84 | ) | (4.67 | ) | |||||||||||||||
Return of capital | — | — | — | (0.09 | ) | — | — | |||||||||||||||||
Total distributions | — | (0.28 | ) | (0.36 | ) | (3.22 | ) | (3.22 | ) | (5.04 | ) | |||||||||||||
Net asset value, end of period | $ | 22.24 | $ | 22.70 | $ | 17.99 | $ | 27.17 | $ | 32.12 | $ | 30.02 | ||||||||||||
TOTAL RETURN | (2.03% | )(b) | 27.75% | (32.42% | ) | (5.62% | ) | 17.84% | 4.58% | |||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 44,117 | $ | 42,921 | $ | 34,609 | $ | 51,868 | $ | 57,190 | $ | 45,332 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.33% | (c) | 0.11% | 0.11% | 0.11% | 0.10% | 0.12% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.26% | (c) | 0.11% | 0.11% | 0.11% | 0.10% | 0.12% | |||||||||||||||||
Ratio of net investment income to average net assets | 0.84% | (c) | 1.33% | 1.45% | 1.13% | 1.12% | 1.01% | |||||||||||||||||
Portfolio turnover rate | 44% | (b) | 107% | 123% | 135% | 246% | 400% | |||||||||||||||||
See notes to financial highlights.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 87 |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Stock Index Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 24.46 | $ | 19.39 | $ | 31.70 | $ | 30.94 | $ | 27.45 | $ | 26.31 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.22 | 0.44 | 0.58 | 0.59 | 0.51 | 0.46 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | (1.70 | ) | 5.05 | (12.34 | ) | 1.02 | 3.77 | 1.14 | ||||||||||||||||
Total gain (loss) from investment operations | (1.48 | ) | 5.49 | (11.76 | ) | 1.61 | 4.28 | 1.60 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.42 | ) | (0.51 | ) | (0.60 | ) | (0.52 | ) | (0.46 | ) | |||||||||||||
Net realized gains | — | — | (0.04 | ) | (0.25 | ) | (0.27 | ) | — | |||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.42 | ) | (0.55 | ) | (0.85 | ) | (0.79 | ) | (0.46 | ) | |||||||||||||
Net asset value, end of period | $ | 22.98 | $ | 24.46 | $ | 19.39 | $ | 31.70 | $ | 30.94 | $ | 27.45 | ||||||||||||
TOTAL RETURN | (6.05% | )(b) | 28.36% | (37.08% | ) | 5.16% | 15.62% | 6.04% | ||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 140,396 | $ | 152,314 | $ | 112,938 | $ | 184,339 | $ | 171,015 | $ | 152,936 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.13% | (c) | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.07% | (c) | 0.06% | 0.06% | 0.06% | 0.06% | 0.06% | |||||||||||||||||
Ratio of net investment income to average net assets | 1.76% | (c) | 2.11% | 2.19% | 1.82% | 1.75% | 1.73% | |||||||||||||||||
Portfolio turnover rate | 6% | (b) | 7% | 7% | 13% | 14% | 8% | |||||||||||||||||
See notes to financial highlights.
88 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Social Choice Equity Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 21.99 | $ | 16.91 | $ | 27.12 | $ | 26.94 | $ | 24.02 | $ | 22.75 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.20 | 0.40 | 0.48 | 0.51 | 0.43 | 0.38 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | (1.49 | ) | 5.09 | (10.28 | ) | 0.64 | 3.08 | 1.24 | ||||||||||||||||
Total gain (loss) from investment operations | (1.29 | ) | 5.49 | (9.80 | ) | 1.15 | 3.51 | 1.62 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.41 | ) | (0.32 | ) | (0.51 | ) | (0.43 | ) | (0.35 | ) | |||||||||||||
Net realized gains | — | — | (0.09 | ) | (0.46 | ) | (0.16 | ) | — | |||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.41 | ) | (0.41 | ) | (0.97 | ) | (0.59 | ) | (0.35 | ) | |||||||||||||
Net asset value, end of period | $ | 20.70 | $ | 21.99 | $ | 16.91 | $ | 27.12 | $ | 26.94 | $ | 24.02 | ||||||||||||
TOTAL RETURN | (5.87% | )(b) | 32.51% | (36.09% | ) | 4.25% | 14.64% | 7.11% | ||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 29,532 | $ | 30,929 | $ | 23,938 | $ | 37,883 | $ | 35,931 | $ | 32,557 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.21% | (c) | 0.08% | 0.07% | 0.07% | 0.07% | 0.07% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.12% | (c) | 0.08% | 0.07% | 0.07% | 0.07% | 0.07% | |||||||||||||||||
Ratio of net investment income to average net assets | 1.79% | (c) | 2.20% | 2.06% | 1.81% | 1.69% | 1.63% | |||||||||||||||||
Portfolio turnover rate | 3% | (b) | 15% | 17% | 12% | 19% | 8% | |||||||||||||||||
See notes to financial highlights.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 89 |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Real Estate Securities Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 18.43 | $ | 15.24 | $ | 26.50 | $ | 38.04 | $ | 30.98 | $ | 33.89 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.21 | 0.49 | 0.70 | 0.60 | 0.82 | 0.96 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | 1.00 | 3.32 | (10.87 | ) | (6.68 | ) | 9.63 | 1.51 | ||||||||||||||||
Total gain (loss) from investment operations | 1.21 | 3.81 | (10.17 | ) | (6.08 | ) | 10.45 | 2.47 | ||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.62 | ) | (1.09 | ) | (1.31 | ) | (1.09 | ) | (1.38 | ) | |||||||||||||
Net realized gains | — | — | — | (4.15 | ) | (2.30 | ) | (4.00 | ) | |||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.62 | ) | (1.09 | ) | (5.46 | ) | (3.39 | ) | (5.38 | ) | |||||||||||||
Net asset value, end of period | $ | 19.64 | $ | 18.43 | $ | 15.24 | $ | 26.50 | $ | 38.04 | $ | 30.98 | ||||||||||||
TOTAL RETURN | 6.57% | (b) | 25.11% | (38.27% | ) | (16.12% | ) | 34.05% | 7.19% | |||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 58,302 | $ | 53,565 | $ | 43,646 | $ | 74,751 | $ | 104,705 | $ | 70,659 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.41% | (c) | 0.25% | 0.26% | 0.27% | 0.25% | 0.29% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.37% | (c) | 0.25% | 0.26% | 0.27% | 0.25% | 0.29% | |||||||||||||||||
Ratio of net investment income to average net assets | 2.17% | (c) | 3.37% | 2.94% | 1.62% | 2.30% | 2.80% | |||||||||||||||||
Portfolio turnover rate | 37% | (b) | 65% | 97% | 111% | 117% | 239% | |||||||||||||||||
See notes to financial highlights.
90 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Bond Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 24.13 | $ | 23.38 | $ | 24.55 | $ | 24.41 | $ | 24.44 | $ | 24.88 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.48 | 1.06 | 1.29 | 1.29 | 1.21 | 1.10 | ||||||||||||||||||
Net realized and unrealized gain (loss) on total investments | 0.82 | 0.68 | (1.19 | ) | 0.07 | (0.06 | ) | (0.48 | ) | |||||||||||||||
Total gain (loss) from investment operations | 1.30 | 1.74 | 0.10 | 1.36 | 1.15 | 0.62 | ||||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | — | (0.99 | ) | (1.27 | ) | (1.22 | ) | (1.18 | ) | (1.06 | ) | |||||||||||||
Net realized gains | — | — | — | — | — | — | ||||||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | — | (0.99 | ) | (1.27 | ) | (1.22 | ) | (1.18 | ) | (1.06 | ) | |||||||||||||
Net asset value, end of period | $ | 25.43 | $ | 24.13 | $ | 23.38 | $ | 24.55 | $ | 24.41 | $ | 24.44 | ||||||||||||
TOTAL RETURN | 5.39% | (b) | 7.40% | 0.39% | 5.60% | 4.70% | 2.51% | |||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 133,742 | $ | 115,865 | $ | 91,953 | $ | 86,661 | $ | 71,761 | $ | 66,434 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.25% | (c) | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.19% | (c) | 0.10% | 0.10% | 0.10% | 0.10% | 0.10% | |||||||||||||||||
Ratio of net investment income to average net assets | 3.91% | (c) | 4.41% | 5.27% | 5.18% | 4.88% | 4.35% | |||||||||||||||||
Portfolio turnover rate | 29% | (b) | 147% | 92% | 97% | 76% | 78% | |||||||||||||||||
See notes to financial highlights.
See notes to financial statements | TIAA-CREF Life Funds n 2010 Semiannual Report | 91 |
FINANCIAL HIGHLIGHTS
TIAA-CREF LIFE FUNDS n FOR THE PERIOD OR YEAR ENDED | continued |
Money Market Fund | ||||||||||||||||||||||||
6/30/10 | 12/31/09 | 12/31/08 | 12/31/07 | 12/31/06 | 12/31/05 | |||||||||||||||||||
(unaudited) | ||||||||||||||||||||||||
FOR A SHARE OUTSTANDING THROUGHOUT EACH PERIOD |
| |||||||||||||||||||||||
Net asset value, beginning of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | ||||||||||||
Gain (loss) from investment operations: |
| |||||||||||||||||||||||
Net investment income(a) | 0.00 | (d) | 0.01 | 0.03 | 0.05 | 0.05 | 0.03 | |||||||||||||||||
Net realized and unrealized gain (loss) on total investments | 0.00 | (d) | 0.00 | (d) | — | — | — | — | ||||||||||||||||
Total gain (loss) from investment operations | 0.00 | (d) | 0.01 | 0.03 | 0.05 | 0.05 | 0.03 | |||||||||||||||||
Less distributions from: | ||||||||||||||||||||||||
Net investment income | 0.00 | (d) | (0.01 | ) | (0.03 | ) | (0.05 | ) | (0.05 | ) | (0.03 | ) | ||||||||||||
Net realized gains | — | — | — | — | — | — | ||||||||||||||||||
Return of capital | — | — | — | — | — | — | ||||||||||||||||||
Total distributions | 0.00 | (d) | (0.01 | ) | (0.03 | ) | (0.05 | ) | (0.05 | ) | (0.03 | ) | ||||||||||||
Net asset value, end of period | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | $ | 1.00 | ||||||||||||
TOTAL RETURN | 0.07% | (b) | 0.54% | 2.86% | 5.34% | 5.10% | 3.25% | |||||||||||||||||
RATIOS AND SUPPLEMENTAL DATA |
| |||||||||||||||||||||||
Net assets at end of period or year (in thousands) | $ | 68,019 | $ | 74,102 | $ | 117,322 | $ | 100,444 | $ | 53,894 | $ | 37,185 | ||||||||||||
Ratio of expenses to average net assets before expense reimbursement | 0.19% | (c) | 0.09% | 0.07% | 0.06% | 0.06% | 0.06% | |||||||||||||||||
Ratio of expenses to average net assets after expense reimbursement | 0.09% | (c) | 0.09% | 0.07% | 0.06% | 0.06% | 0.06% | |||||||||||||||||
Ratio of net investment income to average net assets | 0.15% | (c) | 0.58% | 2.80% | 5.19% | 4.99% | 3.24% | |||||||||||||||||
See notes to financial highlights.
92 | 2010 Semiannual Report n TIAA-CREF Life Funds | See notes to financial statements |
FINANCIAL HIGHLIGHTS (NOTES)
TIAA-CREF LIFE FUNDS | concluded |
(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 Life Funds n 2010 Semiannual Report | 93 |
NOTES TO FINANCIAL STATEMENTS (UNAUDITED)
TIAA-CREF LIFE FUNDS
Note 1—organization and significant accounting policies
TIAA-CREF Life Funds (the “Trust”) is a Delaware statutory trust that was organized on August 13, 1998, and is registered with the Securities and Exchange Commission under the Investment Company Act of 1940 as an open-end management investment company. The Trust currently consists of ten series (the “Funds” or individually the “Fund”). The Funds are available only through the purchase of variable annuity contracts or variable life insurance policies issued by TIAA-CREF Life Insurance Company (“TIAA-CREF Life”).
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 following is a summary of the significant accounting policies consistently followed by the Funds.
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.
Security valuation: For all Funds (other than the Money Market Fund), investments in securities are recorded at their estimated fair value as described in the valuation of investments note to the financial statements. Investments held by the Money Market Fund are recorded at amortized cost, which approximates fair value. The amortized cost of an instrument is determined by valuing it at its original cost and thereafter amortizing any discount or premium from its face value at a constant rate until maturity.
Accounting for investments and investment income: Securities transactions are accounted for as of the trade date for financial reporting purposes. Interest income is recorded as earned and includes accretion of discounts and amortization of premiums using the effective yield method. Dividend income is recorded on the ex-dividend date or, for certain foreign securities, as soon thereafter as the Funds are informed of the ex-dividend date. Realized gains and losses on securities transactions are based upon the specific identification method. Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Funds estimate the components of distributions received that may be considered return of capital distributions or capital gain distributions.
Dollar rolls transactions: Some of the Funds may enter into mortgage dollar rolls in which the Fund sells mortgage securities for delivery in the current month, realizing a gain (loss), and simultaneously contracts to repurchase substantially similar (same type, coupon, and maturity) securities on a specified future date. During the roll period, the Fund forgoes principal and interest paid on the securities. The Fund is compensated by the interest earned on the cash proceeds of
94 | 2010 Semiannual Report n TIAA-CREF Life Funds |
the initial sale and by the lower repurchase price at the future date. The difference between the sales proceeds and the lower repurchase price is recorded as a realized gain. The Fund maintains a segregated account, the dollar value of which is at least equal to its obligations with respect to dollar rolls.
Cash: The Funds hold cash with the custodian. The Funds are charged a fee for overdrafts.
Foreign currency transactions and translation: Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate, using the mean of the bid and asked prices of such currencies against U.S. dollars as quoted by a major bank. Purchases and sales of securities, income, and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on realized and unrealized security gains and losses is reflected as a component of security gains and losses.
Securities lending: The Funds (other than the Money Market Fund) may lend their securities to qualified institutional borrowers to earn additional income. Security loans are required to be collateralized by an amount that is at least equal to the market value of the outstanding securities on loan. The Funds invest cash collateral received in the State Street Navigator Securities Lending Prime Portfolio and record a liability for the return of the collateral during the period the securities are on loan. Securities lending income represents the income earned on investing cash collateral, less expenses associated with the loan. The Funds bear the risk of any deficiency in the amount of the collateral available for return to the borrower due to any loss on the collateral invested. As of June 30, 2010, the Funds did not have any securities out on loan.
Futures contracts: The Funds are subject to equity price risk and interest rate risk in the normal course of pursuing their investment objectives. The Funds (other than the Money Market Fund) may use futures contracts to manage exposure to the equity and credit markets and for cash management purposes to remain highly invested in these markets while minimizing transaction costs. Buying futures contracts tends to increase exposure to the underlying instrument/index, while selling futures contracts tends to decrease exposure to the underlying instrument/index or hedge other investments. Initial margin deposits are made upon entering into a futures contract and variation margin payments are made or received reflecting changes in the value of the futures contracts. Futures contracts are valued at the last sale price as of the close of the board of trade or exchange on which they are traded. Daily changes in the value of such contracts are reflected in net unrealized gains and losses. Gains or losses are realized upon the expiration or closing of the futures contracts, or if the counterparties do not perform in accordance with contractual provisions. With futures, there is minimal counterparty credit risk to the Funds since futures are exchange-traded and the exchange’s clearinghouse, as counterparty to all exchange traded funds, guarantees the futures against default.
TIAA-CREF Life Funds n 2010 Semiannual Report | 95 |
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) |
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 be settled a month or more after trade date; interest income is not accrued until settlement date. At the time the Fund enters into such transactions, it is required to have segregated assets with a current value at least equal to the amount of its when-issued or delayed-delivery purchase commitments.
Treasury Inflation-Protected Securities: The Funds (other than the Money Market Fund) may invest in Treasury Inflation-Protected Securities, specially structured bonds in which the principal amount is adjusted periodically to keep pace with inflation, as measured by the U.S. Consumer Price Index. The adjustments for interest income due to inflation or deflation are reflected in interest income in the Statements of Operations.
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. The risk of investing in such securities is generally greater than the risk of investing in securities that are widely held and publicly traded.
Distributions to shareholders: Distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date.
Income taxes: The Funds intend to continue to qualify as regulated investment companies under Subchapter M of the Internal Revenue Code (“Code”) and will not be subject to income taxes to the extent that they distribute all taxable income each year and comply with various other Code requirements. Therefore, no federal income tax provision is required. Management has analyzed the Funds’ tax positions taken for all open federal income tax years (2006-2009) and has concluded that no provision for federal income tax is required in the Funds’ financial statements.
The timing and character of income and capital gain distributions are determined in accordance with income tax regulations, which may differ from U.S. GAAP. Reclassifications are made to a Fund’s capital accounts for permanent tax differences to reflect income and gains available for distribution (or available capital loss carryforward) under income tax regulations.
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 Board of Trustees (“Trustees”) of the Funds, all of whom are independent, certain remuneration for their services, plus travel and other expenses incurred in attending Board meetings. 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
96 | 2010 Semiannual Report n TIAA-CREF Life Funds |
continued |
plan. Amounts deferred are retained by the Funds. The investment of deferred amounts and the offsetting payable to the Trustees are included in the accompanying Statements of Assets and Liabilities. Trustees’ fees, including any deferred and long-term compensation, incurred for the period ended June 30, 2010, are reflected in the Statements of Operations.
Indemnification: In the normal course of business, each Fund enters into contracts that contain a variety of representations and warranties and which provide general indemnities. A Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims against the Fund that have not yet occurred. Also, under the Funds’ organizational documents, the Trustees and officers of the Funds are indemnified against certain liabilities that may arise out of their duties to the Funds. However, based on experience, the Funds expect the risk of loss due to these warranties and indemnities to be remote.
Note 2—valuation of investments
Portfolio Investments are valued at fair value utilizing various valuation methods approved by the Trustees. U.S. GAAP establishes a hierarchy that prioritizes market inputs to valuation methods. The three levels of inputs are:
• | Level 1—quoted prices in active markets for identical securities |
• | Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments) |
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
A description of the valuation techniques applied to the Funds’ major categories of assets and liabilities measured at fair value follows:
Exchange-traded equity securities, common and preferred stock: Equity securities listed or traded on a national market or exchange are valued based on their sale price on such market or exchange at the close of business on the date of valuation, or at the mean of the closing bid and asked prices if no sale is reported. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Foreign investments are valued at the last sale price or official closing price reported on the
TIAA-CREF Life Funds n 2010 Semiannual Report | 97 |
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) |
exchange where traded and converted to U.S. dollars at the prevailing rates of exchange on the date of valuation. If events materially affecting the value of foreign securities occur between the time when the exchange on which they are traded closes and the time when the Funds net assets are calculated, such securities may be valued at fair value in accordance with procedures adopted by the Trustees. Foreign securities are generally categorized in Level 2 of the fair value hierarchy.
Debt securities: Debt securities will generally be valued using prices provided by a pricing service which may employ various indications of value including but not limited to broker-dealer quotations. Certain debt securities, other than money market instruments, are valued based on the most recent bid price or the equivalent quoted yield for such securities (or those of comparable maturity, quality and type). Debt securities are generally categorized in Level 2 of the fair value hierarchy; in instances where prices, yields, or any other key inputs are unobservable, they are categorized in Level 3 of the hierarchy.
Short-term investments: Short-term investments with maturities of 60 days or less are valued at amortized cost. Short-term investments (other than those in the Money Market Fund) with maturities in excess of 60 days are valued in the same manner as debt securities. Short-term investments are generally categorized in Level 2 of the fair value hierarchy. Short-term investments in the Money Market Fund are all valued at amortized cost. Money Market Fund investments are categorized as Level 2 in the fair value hierarchy.
Investments in registered investment companies: These investments are valued at their net asset value on the valuation date. These investments are categorized in Level 1 of the fair value hierarchy.
Futures contracts: Stock and bond index futures and options, which are traded on commodities exchanges, are valued at the last sales price as of the close of such commodities exchanges and are categorized in Level 1 of the fair value hierarchy.
The portfolio securities for which market quotations are not readily available are valued at fair value, as determined in good faith using procedures approved by the Trustees. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy, otherwise they would be categorized as Level 3.
Transfers between levels are recognized at the end of the reporting period. As of June 30, 2010, there were no significant transfers between levels by the Funds.
As of June 30, 2010, 100% of the investments in the Small-Cap Equity Fund, Stock Index Fund, Social Choice Equity Fund, and the Real Estate Securities Fund were valued based on Level 1 inputs.
As of June 30, 2010, 100% of the investments in the International Equity Fund and the Money Market Fund were valued based on Level 2 inputs.
98 | 2010 Semiannual Report n TIAA-CREF Life Funds |
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The following is a summary of the inputs used to value the remaining Funds’ investments as of June 30, 2010:
Fund | Level 1 | Level 2 | Level 3 | Total | ||||||||
Growth Equity | ||||||||||||
Domestic Common Stocks* | $ | 30,360,997 | $ | — | $ | — | $ | 30,360,997 | ||||
Foreign Common Stocks | ||||||||||||
Business Services | — | 60,297 | — | 60,297 | ||||||||
Oil and Gas Extraction | — | 152,962 | — | 152,962 | ||||||||
Total | $ | 30,360,997 | $ | 213,259 | $ | — | $ | 30,574,256 | ||||
Growth & Income | ||||||||||||
Domestic Common Stocks* | $ | 58,534,851 | $ | — | $ | — | $ | 58,534,851 | ||||
Foreign Common Stocks | ||||||||||||
Chemicals and Allied Products | — | 411,967 | — | 411,967 | ||||||||
Food and Kindred Products | — | 600,983 | — | 600,983 | ||||||||
Miscellaneous Manufacturing Industries | — | 24,532 | — | 24,532 | ||||||||
Oil and Gas Extraction | — | 73,752 | — | 73,752 | ||||||||
Total | $ | 58,534,851 | $ | 1,111,234 | $ | — | $ | 59,646,085 | ||||
Large-Cap Value | ||||||||||||
Domestic Common Stocks* | $ | 50,034,097 | $ | — | $ | — | $ | 50,034,097 | ||||
Foreign Common Stocks | ||||||||||||
Business Services | — | 14,481 | — | 14,481 | ||||||||
Chemicals and Allied Products | — | 383,731 | — | 383,731 | ||||||||
Communications | — | 78,810 | — | 78,810 | ||||||||
Depository Institutions | — | 230,454 | — | 230,454 | ||||||||
Educational Services | 170,155 | 170,155 | ||||||||||
Electronic and Other Electric Equipment | — | 41,866 | — | 41,866 | ||||||||
Hotels and Other Lodging Places | — | 140,243 | — | 140,243 | ||||||||
Oil and Gas Extraction | — | 242,532 | — | 242,532 | ||||||||
Real Estate | — | 21,540 | — | 21,540 | ||||||||
Rubber and Miscellaneous Plastic Products | — | 154,315 | — | 154,315 | ||||||||
Total | $ | 50,034,097 | $ | 1,478,127 | $ | — | $ | 51,512,224 | ||||
Bond | ||||||||||||
Corporate Bonds | $ | — | $ | 36,858,689 | $ | — | $ | 36,858,689 | ||||
Government Bonds | — | 83,360,422 | — | 83,360,422 | ||||||||
Structured Assets | — | 9,061,889 | — | 9,061,889 | ||||||||
Preferred Stocks | 7,746 | — | — | 7,746 | ||||||||
Total | $ | 7,746 | $ | 129,281,000 | $ | — | $ | 129,288,746 |
* | Includes American Depositary Receipts |
Please see the Summary Portfolios of Investments for a detailed breakout by industry.
Note 3—investment adviser and affiliates
Teachers Advisors, Inc. (“Advisors”), a wholly owned subsidiary of Teachers Insurance and Annuity Association of America (“TIAA”) and a registered
TIAA-CREF Life Funds n 2010 Semiannual Report | 99 |
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) |
investment adviser, provides investment advisory services for the Funds pursuant to an Investment Advisory Agreement between Advisors and the Funds. On March 23, 2010, shareholders of the Funds approved a new investment advisory agreement (“Advisory Agreement”), which took effect on May 1, 2010. Additionally, effective May 1, 2010, the Funds entered into a new Administrative Service Agreement with Advisors under which the Funds pay Advisors for its costs in overseeing the Funds’ non-advisory operations. All other administrative costs (including, but not limited to, transfer agency, custody, outside legal counsel, audit, printing and mailing of shareholder documents, compliance and registration fees) are borne directly by the Funds.
As part of the Advisory Agreement, Advisors has agreed to reimburse each Fund if its total expense ratio (excluding acquired fund fees and expenses) exceeds certain percentages. As of June 30, 2010, the Investment Management Fees and maximum expense amounts (after waivers and reimbursements) are equal to the following noted annual percentage of average daily net assets:
Fund | Management Fee | Maximum Expense Amounts* | ||
Growth Equity | 0.45% | 0.52% | ||
Growth & Income | 0.45% | 0.52% | ||
International Equity | 0.50% | 0.60% | ||
Large-Cap Value | 0.45% | 0.52% | ||
Small-Cap Equity | 0.48% | 0.55% | ||
Stock Index | 0.06% | 0.09% | ||
Social Choice Equity | 0.15% | 0.22% | ||
Real Estate Securities | 0.50% | 0.57% | ||
Bond | 0.30% | 0.35% | ||
Money Market | 0.10% | 0.15% |
* | Maximum expense amounts reflect all expenses, including management fees. |
The expense reimbursement arrangements will continue through at least April 30, 2011. |
The reimbursement arrangements can only be changed with the approval of the Board of Trustees. |
Prior to May 1, 2010, the Investment Management Agreement was a unitary fee structure under which Advisors provided or paid for virtually all services necessary for the Funds’ operations. The fees were as follows:
Fund | Management Fee | |
Growth Equity | 0.25% | |
Growth & Income | 0.23% | |
International Equity | 0.29% | |
Large-Cap Value | 0.24% | |
Small-Cap Equity | 0.10% | |
Stock Index | 0.06% | |
Social Choice Equity | 0.07% | |
Real Estate Securities | 0.25% | |
Bond | 0.10% | |
Money Market | 0.06% |
100 | 2010 Semiannual Report n TIAA-CREF Life Funds |
continued |
Fund expenses incurred for each Fund for the period ended June 30, 2010 are reflected in the Statements of Operations.
The Funds may purchase or sell investment securities in transactions with affiliated entities under procedures adopted by the Trustees, pursuant to the Investment Company Act of 1940, as amended. These transactions are effected at market rates without incurring broker commissions.
Certain registered separate accounts (the “Account”) of TIAA-CREF Life, which is a wholly owned subsidiary of TIAA, have various sub-accounts which invest in the Funds. Additionally, at the commencement of operations of each of these Funds, TIAA, an affiliate, invested in each Fund.
The following is the percentage of the Funds’ shares owned by affiliates as of June 30, 2010:
Fund | Investments in Funds Held By TIAA-CREF Life | Investments in Funds Held By TIAA | Percentage of Net Assets | ||||||||||||
Growth Equity | $ | 30,683,045 | 100.0 | % | $ | — | — | 100.00 | % | ||||||
Growth & Income | 49,429,999 | 82.5 | 10,451,361 | 17.5 | % | 100.00 | % | ||||||||
International Equity | 61,296,473 | 75.3 | 20,092,060 | 24.7 | 100.00 | % | |||||||||
Large-Cap Value | 32,053,671 | 62.2 | 19,470,393 | 37.8 | 100.00 | % | |||||||||
Small-Cap Equity | 24,941,337 | 56.5 | 19,175,590 | 43.5 | 100.00 | % | |||||||||
Stock Index | 140,396,123 | 100.0 | — | — | 100.00 | % | |||||||||
Social Choice Equity | 19,623,499 | 66.4 | 9,908,741 | 33.6 | 100.00 | % | |||||||||
Real Estate Securities | 31,217,129 | 53.5 | 27,085,314 | 46.5 | 100.00 | % | |||||||||
Bond | 67,330,715 | 50.3 | 66,411,290 | 49.7 | 100.00 | % | |||||||||
Money Market | 68,018,927 | 100.0 | — | — | 100.00 | % |
Note 4—investments
At June 30, 2010, net unrealized appreciation (depreciation) based on aggregate cost of portfolio investments for federal income tax purposes, consisting of gross unrealized appreciation and gross unrealized depreciation, was as follows:
Fund | Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |||||||||||
Growth Equity | $ | 31,806,385 | $ | 1,521,268 | $ | (2,753,397 | ) | $ | (1,232,129 | ) | |||||
Growth & Income | 64,245,687 | 2,260,132 | (6,859,734 | ) | (4,599,602 | ) | |||||||||
International Equity | 84,681,744 | 2,363,817 | (7,841,424 | ) | (5,477,607 | ) | |||||||||
Large-Cap Value | 59,051,723 | 88,879 | (7,628,378 | ) | (7,539,499 | ) | |||||||||
Small-Cap Equity | 45,723,780 | 3,292,878 | (4,923,759 | ) | (1,630,881 | ) | |||||||||
Stock Index | 158,537,001 | 20,948,325 | (39,234,588 | ) | (18,286,263 | ) | |||||||||
Social Choice Equity | 32,306,330 | 4,388,682 | (7,404,455 | ) | (3,015,773 | ) | |||||||||
Real Estate Securities | 65,387,944 | (880,543 | ) | (6,567,206 | ) | (7,447,749 | ) | ||||||||
Bond | 125,368,449 | 5,984,527 | (2,064,230 | ) | 3,920,297 |
For each Fund, realized gain (loss) and change in unrealized appreciation (depreciation) on futures transactions are reported separately on the Statements of Operations.
TIAA-CREF Life Funds n 2010 Semiannual Report | 101 |
NOTES TO FINANCIAL STATEMENTS (UNAUDITED) |
During the period ended June 30, 2010, the Stock Index Fund and the Small-Cap Equity Fund had exposure to equity futures contracts, based on underlying notional values, generally between 0% and 1% of net assets.
Purchases and sales of securities (other than short-term money market instruments) for the Funds for the period ended June 30, 2010, were as follows:
Fund | Non-U.S. Government Purchases | U.S. Government Purchases | Non-U.S. Government Sales | U.S. Government Sales | ||||||||
Growth Equity | $ | 33,942,536 | $ | — | $ | 36,332,839 | $ | — | ||||
Growth & Income | 44,882,840 | — | 44,803,014 | — | ||||||||
International Equity | 59,589,214 | — | 65,684,227 | — | ||||||||
Large-Cap Value | 33,006,013 | — | 32,678,868 | — | ||||||||
Small-Cap Equity | 22,834,336 | — | 20,220,424 | — | ||||||||
Stock Index | 9,653,741 | — | 9,438,693 | — | ||||||||
Social Choice Equity | 1,468,546 | — | 794,561 | — | ||||||||
Real Estate Securities | 24,118,497 | — | 21,306,533 | — | ||||||||
Bond | 20,220,237 | 35,146,512 | 12,389,416 | 22,987,646 |
Note 5—distributions to shareholders and other tax items
The tax character of distributions paid to shareholders during the year ended December 31, 2009 was as follows:
2009 | |||||||||
Fund | Ordinary Income | Long-Term Capital Gains | Total | ||||||
Growth Equity | $ | 276,980 | $ | — | $ | 276,980 | |||
Growth & Income | 1,005,255 | — | 1,005,255 | ||||||
International Equity | 2,924,055 | — | 2,924,055 | ||||||
Large-Cap Value | 879,669 | — | 879,669 | ||||||
Small-Cap Equity | 516,207 | — | 516,207 | ||||||
Stock Index | 2,599,545 | — | 2,599,545 | ||||||
Social Choice Equity | 569,669 | — | 569,669 | ||||||
Real Estate Securities | 1,742,222 | — | 1,742,222 | ||||||
Bond | 4,516,061 | — | 4,516,061 | ||||||
Money Market | 583,331 | — | 583,331 |
The tax character of the fiscal year 2010 distributions will be determined at the end of the fiscal year.
Note 6—line of credit
Each of the Funds, except the Money Market Fund, participates in a $1 billion unsecured revolving credit facility that can be used for temporary purposes, including, without limitation, the funding of shareholder redemptions. Certain affiliated accounts and mutual funds, each of which is managed by Advisors, or an affiliate of Advisors, also participate in this facility. An annual commitment fee for the credit facility is borne by the participating accounts and mutual funds on a pro
102 | 2010 Semiannual Report n TIAA-CREF Life Funds |
concluded |
rata basis. Interest associated with any borrowing under the facility is charged to the borrowing funds at a specified rate of interest. The Funds are not liable for borrowings under the facility by affiliated accounts or mutual funds. Prior to June 29, 2010, the unsecured revolving credit facility was $750 million. For the period ended June 30, 2010, there were no borrowings under this credit facility by the Funds.
Note 7—accounting pronouncement
In January 2010, the Financial Accounting Standards Board issued authoritative guidance that improves disclosures about fair value measurements through increased transparency. Some of the new disclosure requirements are effective for interim and annual reporting periods beginning after December 15, 2009. The remaining disclosure requirements are effective for fiscal years beginning after December 15, 2010, and for interim periods within those fiscal years. Management has evaluated the new disclosure requirements and has determined that the new requirements will not have a material impact on the Funds’ financial statements.
TIAA-CREF Life Funds n 2010 Semiannual Report | 103 |
2010 SPECIAL MEETING (UNAUDITED)
TIAA-CREF LIFE FUNDS
Investment management agreement
At a special meeting of shareholders on March 23, 2010, shareholders approved a new investment advisory agreement between the TIAA-CREF Life Funds and Teachers Advisors, Inc.
Fund | Shares for | Percent | Shares against | Percent | Shares abstain | Percent | ||||||
Growth Equity | 2,021,568.741 | 83.610 | 332,282.944 | 13.743 | 63,996.074 | 2.647 | ||||||
Growth & Income | 2,225,850.529 | 81.507 | 299,195.353 | 10.956 | 205,832.577 | 7.537 | ||||||
International Equity | 5,000,413.033 | 78.927 | 789,243.656 | 12.457 | 545,839.701 | 8.616 | ||||||
Large-Cap Value | 2,036,154.291 | 87.669 | 186,091.496 | 8.012 | 100,304.813 | 4.319 | ||||||
Small-Cap Equity | 1,582,063.455 | 84.455 | 126,118.747 | 6.733 | 165,069.258 | 8.812 | ||||||
Stock Index | 5,139,614.153 | 85.307 | 522,990.179 | 8.681 | 362,248.268 | 6.013 | ||||||
Social Choice Equity | 1,097,455.412 | 78.996 | 239,350.253 | 17.229 | 52,441.815 | 3.775 | ||||||
Real Estate Securities | 2,359,484.542 | 82.458 | 317,587.384 | 11.099 | 184,367.984 | 6.443 | ||||||
Bond | 4,330,706.053 | 90.338 | 311,169.608 | 6.491 | 152,014.668 | 3.171 | ||||||
Money Market | 65,528,767.175 | 91.338 | 4,633,369.256 | 6.458 | 1,580,834.870 | 2.203 |
The results above were certified by ComputerShare Fund Services, Inc., independent tabulator for the TIAA-CREF Life Funds.
104 | 2010 Semiannual Report n TIAA-CREF Life Funds |
BOARD APPROVAL OF INVESTMENT
MANAGEMENT AGREEMENT (UNAUDITED)
Among its other duties, the Board of Trustees (the “Board” or the “Trustees”) of the TIAA-CREF Life Funds (the “Trust”) is responsible for determining whether to initially approve and subsequently annually renew the investment management agreement (the “Agreement”) between Teachers Advisors, Inc. (“TAI”) and the Trust on behalf of each of its series covered by this Report (the “Funds”). Under the Agreement, TAI is responsible for providing investment advisory services and overseeing the everyday operations and other service providers of the Funds.
Section 15(c) of the Investment Company Act of 1940 (the “1940 Act”) requires that, after an initial period of up to two years, the Agreement for each Fund will remain in effect only if the Board, including a majority of those Trustees who have no direct or indirect interest in the Agreement, and who are not “interested persons” of the Trust, as that term is defined in the 1940 Act, annually renews that Agreement. All of the Trustees are deemed to be independent persons for this purpose.
On May 1, 2010, the Trust implemented a new investment management contract (the “New Contract”) that was previously approved by the Board and each Fund’s shareholders. A summary of the Board’s approval process for the New Contract is included in the Trust’s December 31, 2009 annual shareholder report.
However, on March 31, 2010, the Board renewed the original Agreement for an interim period to ensure that, pursuant to 1940 Act requirements, the original Agreement would not expire prior to the New Contract becoming effective. When the New Contract became effective on May 1, 2010, it superseded the existing Agreement. The discussion below concerning the Board’s renewal of the original Agreement is included in this Report to comply with shareholder report requirements, even though the Agreement is no longer effective for the Trust.
OVERVIEW OF THE RENEWAL PROCESS
The Board held a meeting on March 31, 2010, at which it considered the annual renewal of the Agreement with respect to each applicable Fund using its previously-established process. As part of this process, the Board delegated certain tasks to its Operations Committee. Among these tasks, the Operations Committee works with management and legal counsel to the Trustees to develop guidelines and specific requests relating to the types of information to be provided to the Board and to all Trustees in connection with the proposed contract renewals, and then to help evaluate the information provided in response to those guidelines. During a series of meetings held prior to the March 31, 2010 Board meeting, the Operations Committee reviewed such guidelines and requests in consultation with management representatives and input from other Trustees, legal counsel to the Trustees and legal counsel to management and the Funds, and then evaluated the information produced in accordance with those guidelines and requests.
Among other matters, the Operations Committee, following its consultations with others as noted above, confirmed or established various guidelines regarding the
TIAA-CREF Life Funds n 2010 Semiannual Report | 105 |
BOARD APPROVAL OF INVESTMENT
MANAGEMENT AGREEMENT (UNAUDITED)
preparation of reports to be provided to all Trustees with respect to each Fund by the Global Fiduciary Review unit of Lipper, Inc. (“Lipper”). Lipper is an independent provider of investment company data that is widely recognized as a leading source of independent data used by independent directors and trustees of investment companies during their advisory contract review processes.
Based on guidelines provided by the Operations Committee on behalf of the Board, Lipper produced, among other information, extensive performance and expense comparison data regarding each Fund, including data relating to each Fund’s management fee rates, total expense ratios, short-term and long-term investment performance and, as applicable, brokerage commission costs and portfolio turnover rates. Lipper also compared much of this data for each Fund against a universe of investment companies and against a more selective peer group of mutual funds that underlie variable insurance products with similar investment objectives and strategies, each of which was selected by Lipper, and, in the case of the investment performance data, against one or more appropriate broad-based benchmark indices. In each case, Lipper summarized the methodologies employed by it to provide the data contained in its reports. In addition, Lipper represented to the Board that its reports were designed specifically to provide the Board with the fee, expense and performance information that is necessary to help the Board satisfy its duties under Section 15(c) of the 1940 Act. In considering Lipper’s data, the Board noted that the data on similar funds was based on historical information and had not been adjusted to reflect market volatility that affected the asset levels of many mutual funds during the period covered by that data due to the economic downturn and subsequent recovery.
Among other matters, the Operations Committee also utilized a framework of factors that could be considered by the Trustees in order to evaluate the reasonableness of any profits earned by TAI with respect to its services to each Fund pursuant to the Agreement. In this connection, the Operations Committee emphasized that different Trustees could, and likely would, give different weight to different factors when evaluating the profits, if any, realized or anticipated to be realized by TAI.
In advance of the Board meeting held on March 31, 2010, legal counsel for the Trustees requested on behalf of the Board, and TAI provided, extensive information that was designed to assist the Board in its consideration of whether to renew the Agreement for each Fund. In addition to the data provided by Lipper as described above, this information included, but was not limited to, the following: (1) further information relating to each Fund’s investment performance, including performance ratings provided by Morningstar, Inc. (“Morningstar”), which is a widely recognized mutual fund ranking service, and a narrative analysis of the performance of each Fund that had underperformed its Lipper peer group or (for indexed Funds only) its benchmark index by a specified amount over a three-year period, together with an explanation of any events that had a material impact on performance during that period; (2) a description of any fee waiver or expense
106 | 2010 Semiannual Report n TIAA-CREF Life Funds |
continued |
reimbursement arrangements that were proposed or were in place during the prior year and the extent to which such arrangements would be continued or modified in the coming year; (3) a comparison of each Fund’s fees under the Agreement as compared to any other comparable accounts managed by TAI or its affiliates; (4) any “fall-out” benefits that accrued or were identified as reasonably likely to accrue to TAI or its affiliates due to their relationship with the Funds aside from TAI’s direct fee payments pursuant to the Agreement; (5) information regarding TAI’s financial resources, senior professional personnel, overall staffing levels, portfolio manager compensation arrangements, business continuity plans, insurance coverage, compliance programs, any material pending litigation or compliance issues, portfolio trading and best execution practices, and any actual and potential conflicts of interest identified by TAI in connection with rendering services to the Funds; (6) information as to any profits earned by TAI in connection with its services pursuant to the Agreement; (7) a copy of the Agreement and certain related service agreements between the Funds and affiliates of TAI; (8) a copy of TAI’s SEC Form ADV registration statement (which was presented only to legal counsel for the Trustees); and (9) proposed narrative explanations of reasons why the Board should renew the Agreement.
In considering whether to renew the Agreement with respect to each Fund, the Board, with assistance from its Operations Committee, reviewed various factors with respect to the Fund, including: (1) the nature, extent and quality of services provided or to be provided by TAI to the Fund; (2) the Fund’s investment performance; (3) the costs of the services provided to the Fund and the profits realized or potential profits to be realized (if any) by TAI and its affiliates from their relationship with the Fund; (4) the extent to which economies of scale have been realized or are anticipated to be realized as the Fund grows; (5) whether the fee schedule set forth in the Agreement reflects any such economies of scale for the benefit of Fund investors; (6) comparisons of services and fees with contracts entered into by TAI with other clients; and (7) any other benefits derived or anticipated to be derived by TAI or its affiliates from their relationship with the Fund. As a general matter, the Board viewed these factors in their totality, with no single factor being the principal factor in determining whether to renew the Agreement.
In reaching its decisions regarding the renewal of the Agreement for each Fund, the Board took into account the information described above, other information provided to the Board in connection with this process, and relevant information provided to the Board and to its Committee on an ongoing basis in connection with the Board’s general oversight duties with respect to the Funds. In addition, the Board received and considered information from its legal counsel as to certain relevant guidelines that relate to the renewal process under Section 15(c) of the 1940 Act and certain other legal authorities.
While the Board considered the Agreement with respect to all Funds, the Board received and considered Fund-specific information on a Fund-by-Fund basis and
TIAA-CREF Life Funds n 2010 Semiannual Report | 107 |
BOARD APPROVAL OF INVESTMENT
MANAGEMENT AGREEMENT (UNAUDITED)
made its renewal determinations on a Fund-by-Fund basis. In deciding whether to renew the Agreement for each Fund, each Trustee may have accorded different weight to different factors and, thus, each Trustee may have had a different basis for his or her ultimate decision to vote to renew the Agreement for each Fund. At its meeting on March 31, 2010, the Board voted unanimously to renew the Agreement for each Fund. Set forth below are the general factors the Board considered for all of the Funds, followed by a summary of certain specific factors the Board considered for each particular Fund.
THE NATURE, EXTENT AND QUALITY OF SERVICES
The Board considered that TAI is an experienced investment adviser that has managed the Funds since their operations commenced. Investment professionals at TAI also manage various accounts of the College Retirement Equities Fund (“CREF”), the TIAA-CREF Funds and TIAA Separate Account VA-1. Under the Agreement, TAI is responsible for, among other duties: managing the assets of the Funds, including conducting research, recommending investments and placing orders to buy and sell securities for the Funds’ investment portfolios; active daily monitoring of the investment portfolios by various personnel with specific responsibility for the particular types of investments in question; reporting on the investment performance of the Funds to the Board on a regular basis; and carrying out, or overseeing the provision of, various administrative services to the Funds. The Board considered that TAI has carried out these responsibilities in a competent and professional manner.
The Board also considered, among other factors, the performance of each of the Funds, as discussed below. In the course of its review of the quality of TAI’s services, the Board examined the investment performance of each Fund and concluded that it was within an acceptable range when compared with the Fund’s benchmark and/or its peer group of mutual funds that underlie variable insurance products, or that, in the case of a Fund that had underperformed its benchmark or peer group of mutual funds that underlie variable insurance products for an extended period of time, TAI represented that it had taken or was planning to implement affirmative remedial actions that are reasonably designed to enhance the Fund’s investment performance.
In addition, the Board considered the nature and quality of non-portfolio management services provided by TAI and its affiliates. In this regard, the Board considered its ongoing review of the performance of certain affiliated and unaffiliated service providers, including the quality of services provided by those firms and TAI’s oversight of those service providers and the outsourcing of certain services to other firms.
INVESTMENT PERFORMANCE
The Board considered the investment performance of each Fund, as applicable, over one-, two-, three-, four-,five- and ten-year periods (as applicable). The Board
108 | 2010 Semiannual Report n TIAA-CREF Life Funds |
continued |
considered each Fund’s performance as compared to its peer group and benchmark index. The Board also reviewed the performance of the Stock Index Fund before any reductions for fees or expenses as compared to the Fund’s benchmark index. In this regard, the Board considered that most financial markets had experienced nearly unprecedented volatility during recent years that had adversely impacted the performance of many Funds. Despite these circumstances, the performance of most Funds generally compared favorably to their benchmarks (after considering the effect of expenses incurred to operate the Funds) and, with some exceptions, the Funds ranked in the top three performance quintiles versus their peer groups of mutual funds that underlie variable insurance products for most time periods. (For additional detail regarding each Fund’s performance, see the Fund-by-Fund synopsis below.) The Board considered that, in those cases in which a Fund had underperformed its benchmark or peer group of mutual funds that underlie variable insurance products for an extended period of time, TAI had represented that it had taken or was planning to implement affirmative remedial actions that are reasonably designed to enhance the Fund’s investment performance. Thus, the Board concluded that, under the totality of circumstances considered, the investment performance of each Fund was within an acceptable range or that appropriate remedial actions had or were being implemented.
COST AND PROFITABILITY
The Board considered financial and profitability data relating to TAI for the calendar year 2009 with respect to the Funds. The Board considered each Fund’s unitary structure under which TAI is obligated to provide (or arrange and pay for) all of the services necessary for each Fund’s ordinary operations, including investment advisory, transfer agency, dividend disbursing, custody, accounting and administrative services. The Board considered TAI’s profit calculations with respect to its services to each Fund both before and after taking into account the costs incurred directly or indirectly by TAI in connection with the distribution of shares of the Funds. The Board considered that TAI has consistently incurred losses based on its services to each of the Funds and noted its recent approval of the New Contract in order to end the unitary structure. The Board acknowledged the reasonableness of having fee rates which permit TAI to maintain and improve the quality of services provided to the Funds. During its review of TAI’s profits, the Board noted its ongoing efforts to examine the level of personnel and other resources available to portfolio management functions by TAI so as to assess whether sufficient resources are being devoted to these functions.
FEES CHARGED BY OTHER ADVISERS
The Board considered information regarding fees paid to other advisers for managing similar funds that underlie variable insurance products, as analyzed by Lipper. The Board determined that the management fee rates charged to a Fund under the Agreement typically were lower than the management fee rates charged by many or most comparable mutual funds that underlie variable insurance
TIAA-CREF Life Funds n 2010 Semiannual Report | 109 |
BOARD APPROVAL OF INVESTMENT
MANAGEMENT AGREEMENT (UNAUDITED)
products. In this connection, the Board also considered the inherent limitations of such comparisons in light of uncertainty as to how the fees of such similar mutual funds are set and potentially material differences between a Fund and its comparable mutual funds that underlie variable insurance products. In this regard, the Board also considered the potential limitations of such comparisons due to the fact that, in many instances, Lipper based its comparisons on financial data relating to fiscal periods that differed from the period for which the Fund’s data was derived. Based on all factors considered, the Board concluded that the fee rates under the Agreement with respect to each Fund were within an acceptable range in relation to those charged by appropriate groups of comparable mutual funds that underlie variable insurance products.
ECONOMIES OF SCALE
The Board considered whether TAI has experienced or is anticipated to experience economies of scale in connection with the operation of each Fund. In this connection, the Board considered that TAI had incurred operating losses with respect to its services to each of the Funds in 2009. The Board determined that current fee rates at current asset levels were low compared to peer groups of mutual funds that underlie variable insurance products. Based on all factors considered, the Board concluded that the Funds’ fee schedules were within an acceptable range in light of current economies of scale considerations and current asset levels.
FEE COMPARISON WITH OTHER TAI CLIENTS
The Board considered that TAI and its affiliates provide similar investment management services to other affiliated investment companies. In addition, TAI manages institutional client assets through a small number of unregistered commingled funds and separate accounts with similar investment strategies and investment staff. The Board considered the schedule of fees for each of these funds and accounts, and the fees actually charged to clients with current separate accounts that are managed under similar investment strategies. The Board also considered TAI’s representation that, while management fee rates charged to the Funds may differ for comparable funds, this is due in part to the unitary nature of each Fund’s fees and to the fact that some of the comparable funds: are offered through products that charge additional fees to their investors; are offered in different types of markets; are provided with different types or levels of services by TAI; target different types of investors; and/or are packaged with other products, and that these factors justify different fee rate schedules.
OTHER BENEFITS
The Board also considered additional benefits to the Funds and to TAI and its affiliates arising from the Agreement. For example, TAI and its affiliates may benefit from the advisory relationship with the Funds to the extent that this relationship results in potential investors viewing the TIAA-CREF group of
110 | 2010 Semiannual Report n TIAA-CREF Life Funds |
continued |
companies as a leading retirement plan provider in the academic and nonprofit markets and as a single source for all their financial service needs. Both TAI and certain Funds managed by TAI or its affiliates may benefit from economies of scale to the extent that these Funds are managed in the same manner and by the same personnel as certain of the CREF Accounts. Additionally, TAI, its affiliates and the Funds may benefit from TAI’s ability to acquire investment research related to its commission (i.e., soft dollar) arrangements with respect to commissions paid by the Funds.
FUND-BY FUND FACTORS
The Board considered the following specific factors (among others) in connection with its determination to renew the Agreement with respect to each Fund. If a Fund is described in the following discussions as being in the “1st” quintile, it is in the best of five groups (that is, the group has the best performance or the lowest expenses, as the case may be). References below to quintiles are based on data provided to the Board in the reports prepared by Lipper. All time periods referenced below end as of December 31, 2009. Under the Morningstar rating system, 5 stars is the highest (best) rating category and 1 star is the lowest rating category. Statements below regarding “net profit” or “net loss” refer to whether TAI earned a profit or incurred a loss for the services that it rendered to a Fund during 2009 under the Agreement. The contractual management fee rates and the unitary pricing arrangements that are referenced below were replaced by the New Contract that became effective on May 1, 2010.
GROWTH EQUITY FUND
• | The Fund’s annual contractual management fee rate was 0.25% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its group of comparable funds selected by Lipper for expense comparison purposes (“Expense Group”) and of the universe of comparable funds identified by Lipper for expense comparison purposes (“Expense Universe”). |
• | For the one- and two-year periods, the Fund was in the 4th and 3rd quintiles, respectively, of its universe of comparable funds identified by Lipper for performance comparison purposes (“Performance Universe”). For the three-, four- and five-year periods, the Fund was in the 2nd quintile of its Performance Universe. |
• | The Fund received an Overall Morningstar Rating of 4 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
TIAA-CREF Life Funds n 2010 Semiannual Report | 111 |
BOARD APPROVAL OF INVESTMENT
MANAGEMENT AGREEMENT (UNAUDITED)
GROWTH & INCOME FUND
• | The Fund’s annual contractual management fee rate was 0.23% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one-year period, the Fund was in the 3rd quintile of its Performance Universe. For the two-, three-, four- and five-year periods, the Fund was in the 1st quintile of its Performance Universe. |
• | The Fund received an Overall Morningstar Rating of 5 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
• | In 2009, Thomas Franks replaced William Riegel as Portfolio Manager—Risk Management, in support of the existing Lead Portfolio Manager, Susan Kempler. |
INTERNATIONAL EQUITY FUND
• | The Fund’s annual contractual management fee rate was 0.29% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one-, two-, three-, four- and five-year periods, the Fund was in the 2nd, 5th, 4th, 3rd and 3rd quintiles, respectively. |
• | The Fund received an Overall Morningstar Rating of 3 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
• | In 2009, Chris Semenuk was named Lead Portfolio Manager to enhance effective portfolio management decision-making with respect to the Fund. |
LARGE-CAP VALUE FUND
• | The Fund’s annual contractual management fee rate was 0.24% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one- and four-year periods, the Fund was in the 2nd quintile of its Performance Universe and in the 3rd quintile of its Performance Universe for the two-, three- and five-year periods. |
• | The Fund received an Overall Morningstar Rating of 3 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
112 | 2010 Semiannual Report n TIAA-CREF Life Funds |
continued |
SMALL-CAP EQUITY FUND
• | The Fund’s annual contractual management fee rate was 0.10% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the two- and three-year periods, the Fund was in the 2nd and 4th quintiles, respectively, of its Performance Universe and in the 3rd quintile of its Performance Universe for the one-, four- and five-year periods. |
• | The Fund received an Overall Morningstar Rating of 3 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
STOCK INDEX FUND
• | The Fund’s annual contractual management fee rate was 0.06% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one- and ten-year periods, the Fund was in the 4th quintile of its Performance Universe and in the 3rd quintile of its Performance Universe for the two-, three-, four- and five-year periods. |
• | The Fund received an Overall Morningstar Rating of 3 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
SOCIAL CHOICE EQUITY FUND
• | The Fund’s annual contractual management fee rate was 0.07% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one-, two-, three-, four- and five-year periods, the Fund was in the 2nd quintile of its Performance Universe. |
• | The Fund received an Overall Morningstar Rating of 4 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
TIAA-CREF Life Funds n 2010 Semiannual Report | 113 |
BOARD APPROVAL OF INVESTMENT
| concluded |
MANAGEMENT AGREEMENT
REAL ESTATE SECURITIES FUND
• | The Fund’s annual contractual management fee rate was 0.25% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one- and five-year periods, the Fund was in the 5th quintile of its Performance Universe, and was in the 4th quintile of its Performance Universe for the two-, three- and four-year periods. |
• | The Fund received an Overall Morningstar Rating of 3 stars for the one-year period. |
• | TAI incurred a net loss with respect to its services to the Fund for the one-year period. |
• | In 2009, David Copp was named Lead Portfolio Manager to enhance portfolio management decision-making with respect to the Fund. The Fund also changed its benchmark index from the Dow Jones Wilshire Real Estate Securities Index to the FTSE NAREIT Equity REITs Index, which is deemed to be more reflective of the manner in which the Fund is being managed. |
BOND FUND
• | The Fund’s annual contractual management fee rate was 0.10% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one-, two-, three-, four- and five-year periods, the Fund was in the 4th quintile of its Performance Universe. |
• | The Fund received an Overall Morningstar Rating of 3 stars for the one-year period. |
• | In 2009, Steven Sterman was added as a Portfolio Manager in an asset allocation and general oversight capacity. |
MONEY MARKET FUND
• | The Fund’s annual contractual management fee rate was 0.06% of average daily net assets. The Fund utilizes a unitary pricing structure under the Agreement. |
• | The Fund’s management fees and total expenses were in the 1st quintile of its Expense Group and Expense Universe. |
• | For the one-, two-, three-, four- and five-year periods, the Fund was in the 1st quintile of its Performance Universe. |
• | Money market funds are not rated by Morningstar. |
• | Through September 2009, the Fund participated in the US. Treasury Department’s Money Market Guarantee Program. |
Based primarily on the foregoing factors and considerations, the Board renewed the Agreement for each Fund.
114 | 2010 Semiannual Report n TIAA-CREF Life Funds |
TIAA-CREF WEBSITE
Account performance, personal account information and transactions, product descriptions, and information about investment choices and income options
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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 tiaa-cref.org, or call 800 223-1200. Please read the prospectus carefully before investing. Investment products are not FDIC insured, may lose value and are not bank guaranteed. TIAA-CREF
Brokerage Services is a division of TIAA-CREF Individual & Institutional Services, LLC. TIAA-CREF Individual & Institutional Services, LLC, and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products. Insurance and annuity products are issued by TIAA-CREF Life Insurance Co., New York, NY. TIAA-CREF Trust Company, FSB provides trust services.
© 2010 Teachers Insurance and Annuity Association—College Retirement Equities Fund (TIAA-CREF), New York, NY 10017-3206
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C48197 | A10937 (8/10) |
Item 2. | Code of Ethics. |
Not applicable.
Item 3. | Audit Committee Financial Expert. |
Not applicable.
Item 4. | Principal Accountant Fees and Services. |
Not applicable.
Item 5. | Audited Committee of Listed Registrants. |
Not applicable.
Item 6. | Schedule of Investments. |
TIAA-CREF LIFE FUNDS - Growth Equity Fund
TIAA-CREF LIFE FUNDS
GROWTH EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 99.6% | |||||||
AMUSEMENT AND RECREATION SERVICES - 2.0% | |||||||
19,250 | Walt Disney Co | $ | 606,375 | ||||
TOTAL AMUSEMENT AND RECREATION SERVICES | 606,375 | ||||||
APPAREL AND OTHER TEXTILE PRODUCTS - 0.8% | |||||||
3,519 | Polo Ralph Lauren Corp (Class A) | 256,746 | |||||
TOTAL APPAREL AND OTHER TEXTILE PRODUCTS | 256,746 | ||||||
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.1% | |||||||
17,060 | Lowe’s Cos, Inc | 348,365 | |||||
TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES | 348,365 | ||||||
BUSINESS SERVICES - 17.6% | |||||||
14,562 | * | Adobe Systems, Inc | 384,874 | ||||
3,793 | * | Amadeus IT Holding S.A. | 60,297 | ||||
11,119 | * | Autodesk, Inc | 270,859 | ||||
15,689 | * | eBay, Inc | 307,661 | ||||
2,654 | * | Google, Inc (Class A) | 1,180,898 | ||||
28,690 | * | Intuit, Inc | 997,552 | ||||
12,031 | * | Juniper Networks, Inc | 274,547 | ||||
38,075 | Microsoft Corp | 876,106 | |||||
7,605 | * | Nuance Communications, Inc | 113,695 | ||||
12,406 | Omnicom Group, Inc | 425,526 | |||||
2,753 | * | Salesforce.com, Inc | 236,262 | ||||
21,145 | * | Yahoo!, Inc | 292,435 | ||||
TOTAL BUSINESS SERVICES | 5,420,712 | ||||||
CHEMICALS AND ALLIED PRODUCTS - 11.5% | |||||||
14,494 | Avon Products, Inc | 384,091 | |||||
18,008 | * | Celgene Corp | 915,167 | ||||
1,340 | CF Industries Holdings, Inc | 85,023 | |||||
12,786 | Dow Chemical Co | 303,284 | |||||
2,602 | * | Human Genome Sciences, Inc | 58,961 | ||||
6,880 | Novartis AG. (ADR) | 332,442 | |||||
4,246 | Novo Nordisk A.S. (ADR) | 344,011 | |||||
7,531 | Shire plc (ADR) | 462,253 | |||||
6,161 | Teva Pharmaceutical Industries Ltd (ADR) | 320,310 | |||||
8,179 | * | Watson Pharmaceuticals, Inc | 331,822 | ||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 3,537,364 | ||||||
COMMUNICATIONS - 0.5% | |||||||
33,913 | * | Sprint Nextel Corp | 143,791 | ||||
TOTAL COMMUNICATIONS | 143,791 | ||||||
DEPOSITORY INSTITUTIONS - 1.2% | |||||||
14,229 | Wells Fargo & Co | 364,262 | |||||
TOTAL DEPOSITORY INSTITUTIONS | 364,262 | ||||||
1
TIAA-CREF LIFE FUNDS - Growth Equity Fund
SHARES | COMPANY | VALUE | |||||
EATING AND DRINKING PLACES - 2.0% | |||||||
5,876 | Darden Restaurants, Inc | $ | 228,283 | ||||
9,907 | Yum! Brands, Inc | 386,769 | |||||
TOTAL EATING AND DRINKING PLACES | 615,052 | ||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 16.8% | |||||||
11,016 | Analog Devices, Inc | 306,906 | |||||
7,421 | * | Apple Computer, Inc | 1,866,604 | ||||
62,809 | * | Cisco Systems, Inc | 1,338,460 | ||||
2,882 | * | First Solar, Inc | 328,058 | ||||
34,315 | Intel Corp | 667,427 | |||||
9,892 | * | NetApp, Inc | 369,071 | ||||
12,628 | Xilinx, Inc | 318,983 | |||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 5,195,509 | ||||||
ENGINEERING AND MANAGEMENT SERVICES - 1.0% | |||||||
8,198 | * | Jacobs Engineering Group, Inc | 298,735 | ||||
TOTAL ENGINEERING AND MANAGEMENT SERVICES | 298,735 | ||||||
FABRICATED METAL PRODUCTS - 0.9% | |||||||
6,342 | Illinois Tool Works, Inc | 261,798 | |||||
TOTAL FABRICATED METAL PRODUCTS | 261,798 | ||||||
FOOD AND KINDRED PRODUCTS - 3.3% | |||||||
17,377 | Dr Pepper Snapple Group, Inc | 649,726 | |||||
7,345 | Mead Johnson Nutrition Co | 368,131 | |||||
TOTAL FOOD AND KINDRED PRODUCTS | 1,017,857 | ||||||
FURNITURE AND HOME FURNISHINGS STORES - 0.9% | |||||||
7,084 | * | Bed Bath & Beyond, Inc | 262,675 | ||||
TOTAL FURNITURE AND HOME FURNISHINGS STORES | 262,675 | ||||||
GENERAL MERCHANDISE STORES - 1.5% | |||||||
16,788 | * | Dollar General Corp | 462,509 | ||||
TOTAL GENERAL MERCHANDISE STORES | 462,509 | ||||||
HEALTH SERVICES - 1.9% | |||||||
12,229 | * | Express Scripts, Inc | 575,008 | ||||
TOTAL HEALTH SERVICES | 575,008 | ||||||
HOTELS AND OTHER LODGING PLACES - 1.7% | |||||||
10,141 | * | Orient-Express Hotels Ltd (Class A) | 75,043 | ||||
10,428 | Starwood Hotels & Resorts Worldwide, Inc | 432,032 | |||||
TOTAL HOTELS AND OTHER LODGING PLACES | 507,075 | ||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 5.3% | |||||||
6,582 | Deere & Co | 366,486 | |||||
14,273 | Emerson Electric Co | 623,587 | |||||
23,279 | Johnson Controls, Inc | 625,507 | |||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 1,615,580 | ||||||
2
TIAA-CREF LIFE FUNDS - Growth Equity Fund
SHARES | COMPANY | VALUE | |||||
INSTRUMENTS AND RELATED PRODUCTS - 13.3% | |||||||
10,194 | * | Agilent Technologies, Inc | $ | 289,815 | |||
6,060 | Allergan, Inc | 353,056 | |||||
16,890 | Danaher Corp | 626,956 | |||||
5,689 | * | Edwards Lifesciences Corp | 318,698 | ||||
4,335 | * | Illumina, Inc | 188,703 | ||||
1,474 | * | Intuitive Surgical, Inc | 465,224 | ||||
13,007 | * | Life Technologies Corp | 614,580 | ||||
4,369 | Rockwell Collins, Inc | 232,125 | |||||
5,958 | Roper Industries, Inc | 333,410 | |||||
6,448 | * | Sensata Technologies Holding BV | 103,104 | ||||
11,350 | * | Thermo Electron Corp | 556,717 | ||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 4,082,388 | ||||||
INSURANCE CARRIERS - 1.1% | |||||||
7,720 | Aflac, Inc | 329,412 | |||||
TOTAL INSURANCE CARRIERS | 329,412 | ||||||
LEATHER AND LEATHER PRODUCTS - 0.8% | |||||||
6,431 | Coach, Inc | 235,053 | |||||
TOTAL LEATHER AND LEATHER PRODUCTS | 235,053 | ||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.8% | |||||||
6,115 | Hasbro, Inc | 251,327 | |||||
TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES | 251,327 | ||||||
MISCELLANEOUS RETAIL - 1.6% | |||||||
4,532 | * | Amazon.com, Inc | 495,166 | ||||
TOTAL MISCELLANEOUS RETAIL | 495,166 | ||||||
MOTION PICTURES - 1.2% | |||||||
10,465 | * | Discovery Communications, Inc (Class A) | 373,705 | ||||
TOTAL MOTION PICTURES | 373,705 | ||||||
OIL AND GAS EXTRACTION - 4.6% | |||||||
4,948 | * | Concho Resources, Inc | 273,773 | ||||
4,382 | Crescent Point Energy Corp | 152,961 | |||||
10,094 | National Oilwell Varco, Inc | 333,809 | |||||
8,355 | Occidental Petroleum Corp | 644,588 | |||||
TOTAL OIL AND GAS EXTRACTION | 1,405,131 | ||||||
PETROLEUM AND COAL PRODUCTS - 0.3% | |||||||
1,429 | Walter Industries, Inc | 86,955 | |||||
TOTAL PETROLEUM AND COAL PRODUCTS | 86,955 | ||||||
PRIMARY METAL INDUSTRIES - 1.0% | |||||||
3,095 | Precision Castparts Corp | 318,537 | |||||
TOTAL PRIMARY METAL INDUSTRIES | 318,537 | ||||||
SECURITY AND COMMODITY BROKERS - 1.4% | |||||||
1,025 | CME Group, Inc | 288,589 | |||||
6,372 | Morgan Stanley | 147,894 | |||||
TOTAL SECURITY AND COMMODITY BROKERS | 436,483 | ||||||
3
TIAA-CREF LIFE FUNDS - Growth Equity Fund
SHARES | COMPANY | VALUE | |||||
TRANSPORTATION EQUIPMENT - 2.5% | |||||||
12,002 | Boeing Co | $ | 753,126 | ||||
TOTAL TRANSPORTATION EQUIPMENT | 753,126 | ||||||
TRUCKING AND WAREHOUSING - 1.0% | |||||||
5,582 | United Parcel Service, Inc (Class B) | 317,560 | |||||
TOTAL TRUCKING AND WAREHOUSING | 317,560 | ||||||
TOTAL COMMON STOCKS (Cost $31,714,568) | 30,574,256 | ||||||
TOTAL INVESTMENTS - 99.6% (Cost $31,714,568) | 30,574,256 | ||||||
OTHER ASSETS & LIABILITIES, NET - 0.4% | 108,789 | ||||||
NET ASSETS - 100.0% | $ | 30,683,045 | |||||
Abbreviation(s):
ADR American Depositary Receipt
* | Non-income producing. |
4
TIAA-CREF LIFE FUNDS - Growth & Income Fund
TIAA-CREF LIFE FUNDS
GROWTH & INCOME FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 99.6% | |||||||
AMUSEMENT AND RECREATION SERVICES - 1.2% | |||||||
22,593 | Walt Disney Co | $ | 711,680 | ||||
TOTAL AMUSEMENT AND RECREATION SERVICES | 711,680 | ||||||
APPAREL AND ACCESSORY STORES - 1.3% | |||||||
8,764 | * | Collective Brands, Inc | 138,471 | ||||
3,451 | * | Dress Barn, Inc | 82,168 | ||||
4,763 | * | J Crew Group, Inc | 175,326 | ||||
2,729 | Ross Stores, Inc | 145,428 | |||||
6,289 | TJX Companies, Inc | 263,825 | |||||
TOTAL APPAREL AND ACCESSORY STORES | 805,218 | ||||||
APPAREL AND OTHER TEXTILE PRODUCTS - 0.3% | |||||||
7,266 | * | Hanesbrands, Inc | 174,820 | ||||
TOTAL APPAREL AND OTHER TEXTILE PRODUCTS | 174,820 | ||||||
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.7% | |||||||
15,864 | Home Depot, Inc | 445,302 | |||||
TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES | 445,302 | ||||||
BUSINESS SERVICES - 7.8% | |||||||
17,010 | Activision Blizzard, Inc | 178,435 | |||||
5,240 | * | Adobe Systems, Inc | 138,493 | ||||
5,910 | * | Akamai Technologies, Inc | 239,769 | ||||
3,761 | * | Alliance Data Systems Corp | 223,855 | ||||
9,199 | * | eBay, Inc | 180,392 | ||||
2,005 | * | Google, Inc (Class A) | 892,125 | ||||
61,322 | Microsoft Corp | 1,411,020 | |||||
13,552 | * | Nuance Communications, Inc | 202,602 | ||||
28,268 | Oracle Corp | 606,631 | |||||
19,824 | * | Symantec Corp | 275,157 | ||||
4,787 | Visa, Inc (Class A) | 338,680 | |||||
TOTAL BUSINESS SERVICES | 4,687,159 | ||||||
CHEMICALS AND ALLIED PRODUCTS - 13.6% | |||||||
6,059 | Abbott Laboratories | 283,440 | |||||
6,818 | * | Amgen, Inc | 358,627 | ||||
2,440 | Ashland, Inc | 113,265 | |||||
4,771 | Avon Products, Inc | 126,432 | |||||
13,370 | Biovail Corp | 257,239 | |||||
32,904 | * | Biovitrum AB | 155,867 | ||||
24,899 | Bristol-Myers Squibb Co | 620,981 | |||||
1,400 | CF Industries Holdings, Inc | 88,830 | |||||
14,878 | Du Pont (E.I.) de Nemours & Co | 514,630 | |||||
23,964 | * | Ferro Corp | 176,615 | ||||
10,565 | * | Gilead Sciences, Inc | 362,168 | ||||
11,250 | * | L’ Occitane International SA | 24,532 | ||||
20,090 | Merck & Co, Inc | 702,547 | |||||
19,286 | * | Mylan Laboratories, Inc | 328,633 | ||||
10,709 | Novartis AG. (ADR) | 517,459 | |||||
2,841 | Perrigo Co | 167,818 | |||||
67,112 | Pfizer, Inc | 957,017 | |||||
24,981 | Procter & Gamble Co | 1,498,359 |
5
TIAA-CREF LIFE FUNDS - Growth & Income Fund
SHARES | COMPANY | VALUE | |||||
12,484 | Shire Ltd | $ | 256,100 | ||||
3,828 | * | United Therapeutics Corp | 186,845 | ||||
10,181 | * | Watson Pharmaceuticals, Inc | 413,043 | ||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 8,110,447 | ||||||
COMMUNICATIONS - 3.2% | |||||||
10,964 | * | DIRECTV | 371,899 | ||||
11,954 | * | MetroPCS Communications, Inc | 97,903 | ||||
39,434 | Qwest Communications International, Inc | 207,029 | |||||
71,182 | * | Sprint Nextel Corp | 301,812 | ||||
34,340 | Verizon Communications, Inc | 962,206 | |||||
TOTAL COMMUNICATIONS | 1,940,849 | ||||||
DEPOSITORY INSTITUTIONS - 8.8% | |||||||
64,973 | Bank of America Corp | 933,662 | |||||
192,940 | * | Citigroup, Inc | 725,454 | ||||
9,102 | Comerica, Inc | 335,227 | |||||
21,318 | Huntington Bancshares, Inc | 118,102 | |||||
25,712 | JPMorgan Chase & Co | 941,316 | |||||
23,678 | Marshall & Ilsley Corp | 170,008 | |||||
5,614 | PNC Financial Services Group, Inc | 317,191 | |||||
26,002 | US Bancorp | 581,145 | |||||
44,055 | Wells Fargo & Co | 1,127,808 | |||||
TOTAL DEPOSITORY INSTITUTIONS | 5,249,913 | ||||||
EATING AND DRINKING PLACES - 1.3% | |||||||
8,545 | * | Cheesecake Factory | 190,212 | ||||
946 | * | Chipotle Mexican Grill, Inc (Class A) | 129,422 | ||||
7,348 | McDonald’s Corp | 484,013 | |||||
TOTAL EATING AND DRINKING PLACES | 803,647 | ||||||
ELECTRIC, GAS, AND SANITARY SERVICES - 4.3% | |||||||
7,056 | Constellation Energy Group, Inc | 227,556 | |||||
3,067 | Enterprise Products Partners LP | 108,480 | |||||
9,100 | FPL Group, Inc | 443,716 | |||||
10,230 | PG&E Corp | 420,453 | |||||
10,011 | Public Service Enterprise Group, Inc | 313,645 | |||||
6,962 | Questar Corp | 316,701 | |||||
6,692 | Republic Services, Inc | 198,953 | |||||
3,285 | Sempra Energy | 153,705 | |||||
6,284 | * | Stericycle, Inc | 412,105 | ||||
TOTAL ELECTRIC, GAS, AND SANITARY SERVICES | 2,595,314 | ||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 9.1% | |||||||
7,215 | * | Apple Computer, Inc | 1,814,790 | ||||
38,650 | * | Cisco Systems, Inc | 823,632 | ||||
4,510 | * | CommScope, Inc | 107,203 | ||||
22,526 | Hewlett-Packard Co | 974,925 | |||||
36,181 | Intel Corp | 703,720 | |||||
14,474 | * | JDS Uniphase Corp | 142,424 | ||||
7,542 | Koninklijke Philips Electronics NV (ADR) | 225,053 | |||||
27,335 | * | Micron Technology, Inc | 232,074 | ||||
9,491 | * | SanDisk Corp | 399,286 | ||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 5,423,107 | ||||||
6
TIAA-CREF LIFE FUNDS - Growth & Income Fund
SHARES | COMPANY | VALUE | |||||
ENGINEERING AND MANAGEMENT SERVICES - 0.6% | |||||||
17,620 | KBR, Inc | $ | 358,391 | ||||
TOTAL ENGINEERING AND MANAGEMENT SERVICES | 358,391 | ||||||
FABRICATED METAL PRODUCTS - 0.5% | |||||||
5,824 | Stanley Works | 294,228 | |||||
TOTAL FABRICATED METAL PRODUCTS | 294,228 | ||||||
FOOD AND KINDRED PRODUCTS - 5.9% | |||||||
14,856 | Coca-Cola Co | 744,582 | |||||
18,203 | * | Dean Foods Co | 183,304 | ||||
6,481 | Dr Pepper Snapple Group, Inc | 242,325 | |||||
9,618 | General Mills, Inc | 341,631 | |||||
4,288 | H.J. Heinz Co | 185,327 | |||||
7,538 | * | Hansen Natural Corp | 294,811 | ||||
4,704 | InBev NV | 226,174 | |||||
11,605 | Kraft Foods, Inc (Class A) | 324,940 | |||||
8,310 | PepsiCo, Inc | 506,495 | |||||
8,253 | * | Smithfield Foods, Inc | 122,970 | ||||
14,021 | Unilever plc | 374,810 | |||||
TOTAL FOOD AND KINDRED PRODUCTS | 3,547,369 | ||||||
FOOD STORES - 0.4% | |||||||
6,343 | * | Whole Foods Market, Inc | 228,475 | ||||
TOTAL FOOD STORES | 228,475 | ||||||
GENERAL MERCHANDISE STORES - 1.5% | |||||||
6,304 | Target Corp | 309,968 | |||||
12,310 | Wal-Mart Stores, Inc | 591,741 | |||||
TOTAL GENERAL MERCHANDISE STORES | 901,709 | ||||||
HEALTH SERVICES - 1.6% | |||||||
6,964 | * | Express Scripts, Inc | 327,447 | ||||
6,833 | * | Medco Health Solutions, Inc | 376,362 | ||||
6,125 | Universal Health Services, Inc (Class B) | 233,669 | |||||
TOTAL HEALTH SERVICES | 937,478 | ||||||
HOLDING AND OTHER INVESTMENT OFFICES - 0.1% | |||||||
6,628 | Kimco Realty Corp | 89,080 | |||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 89,080 | ||||||
HOTELS AND OTHER LODGING PLACES - 0.2% | |||||||
14,790 | * | Orient-Express Hotels Ltd (Class A) | 109,446 | ||||
TOTAL HOTELS AND OTHER LODGING PLACES | 109,446 | ||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 8.4% | |||||||
6,795 | 3M Co | 536,737 | |||||
8,732 | * | 3PAR, Inc | 81,295 | ||||
2,622 | Eaton Corp | 171,584 | |||||
18,278 | * | EMC Corp | 334,487 | ||||
6,960 | Emerson Electric Co | 304,082 | |||||
74,941 | General Electric Co | 1,080,650 | |||||
8,431 | International Business Machines Corp | 1,041,060 | |||||
4,735 | * | Netezza Corp | 64,775 | ||||
7,924 | Raytheon Co | 383,442 | |||||
5,758 | * | Teradata Corp | 175,504 | ||||
11,900 | Textron, Inc | 201,943 |
7
TIAA-CREF LIFE FUNDS - Growth & Income Fund
SHARES | COMPANY | VALUE | |||||
11,502 | Tyco International Ltd | $ | 405,215 | ||||
30,253 | Xerox Corp | 243,234 | |||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 5,024,008 | ||||||
INSTRUMENTS AND RELATED PRODUCTS - 2.2% | |||||||
2,478 | * | Edwards Lifesciences Corp | 138,818 | ||||
1,145 | * | Intuitive Surgical, Inc | 361,384 | ||||
1,411 | * | Itron, Inc | 87,228 | ||||
5,934 | * | Life Technologies Corp | 280,382 | ||||
6,750 | * | Sensata Technologies Holding BV | 107,933 | ||||
7,112 | * | Thermo Electron Corp | 348,843 | ||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 1,324,588 | ||||||
INSURANCE CARRIERS - 3.5% | |||||||
9,520 | ACE Ltd | 490,090 | |||||
13,706 | Cigna Corp | 425,708 | |||||
11,608 | Lincoln National Corp | 281,958 | |||||
10,257 | Prudential Financial, Inc | 550,391 | |||||
6,052 | RenaissanceRe Holdings Ltd | 340,546 | |||||
TOTAL INSURANCE CARRIERS | 2,088,693 | ||||||
METAL MINING - 0.6% | |||||||
6,156 | Barrick Gold Corp | 279,544 | |||||
3,732 | PAN American Silver Corp | 94,345 | |||||
TOTAL METAL MINING | 373,889 | ||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.9% | |||||||
9,286 | Jarden Corp | 249,515 | |||||
13,844 | Mattel, Inc | 292,939 | |||||
TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES | 542,454 | ||||||
MISCELLANEOUS RETAIL - 0.7% | |||||||
4,034 | * | Amazon.com, Inc | 440,755 | ||||
TOTAL MISCELLANEOUS RETAIL | 440,755 | ||||||
MOTION PICTURES - 1.6% | |||||||
15,985 | * | Discovery Communications, Inc (Class A) | 570,824 | ||||
12,343 | Viacom, Inc (Class B) | 387,200 | |||||
TOTAL MOTION PICTURES | 958,024 | ||||||
NONDEPOSITORY INSTITUTIONS - 0.3% | |||||||
11,319 | Discover Financial Services | 158,240 | |||||
TOTAL NONDEPOSITORY INSTITUTIONS | 158,240 | ||||||
OIL AND GAS EXTRACTION - 3.2% | |||||||
6,169 | * | Cameron International Corp | 200,616 | ||||
17,148 | Halliburton Co | 420,983 | |||||
8,453 | * | Newfield Exploration Co | 413,014 | ||||
10,521 | Occidental Petroleum Corp | 811,695 | |||||
4,958 | Tullow Oil plc | 73,752 | |||||
TOTAL OIL AND GAS EXTRACTION | 1,920,060 | ||||||
8
TIAA-CREF LIFE FUNDS - Growth & Income Fund
SHARES | COMPANY | VALUE | |||||
PETROLEUM AND COAL PRODUCTS - 5.7% | |||||||
13,803 | Chevron Corp | $ | 936,672 | ||||
33,671 | Exxon Mobil Corp | 1,921,604 | |||||
8,338 | Marathon Oil Corp | 259,228 | |||||
4,640 | Walter Industries, Inc | 282,344 | |||||
TOTAL PETROLEUM AND COAL PRODUCTS | 3,399,848 | ||||||
PRIMARY METAL INDUSTRIES - 0.3% | |||||||
1,955 | Precision Castparts Corp | 201,209 | |||||
TOTAL PRIMARY METAL INDUSTRIES | 201,209 | ||||||
RAILROAD TRANSPORTATION - 0.8% | |||||||
6,583 | Union Pacific Corp | 457,584 | |||||
TOTAL RAILROAD TRANSPORTATION | 457,584 | ||||||
SECURITY AND COMMODITY BROKERS - 1.9% | |||||||
634 | CME Group, Inc | 178,503 | |||||
2,838 | Goldman Sachs Group, Inc | 372,544 | |||||
7,245 | Lazard Ltd (Class A) | 193,514 | |||||
16,453 | Morgan Stanley | 381,874 | |||||
TOTAL SECURITY AND COMMODITY BROKERS | 1,126,435 | ||||||
TOBACCO PRODUCTS - 1.3% | |||||||
3,938 | Lorillard, Inc | 283,457 | |||||
10,250 | Philip Morris International, Inc | 469,860 | |||||
TOTAL TOBACCO PRODUCTS | 753,317 | ||||||
TRANSPORTATION BY AIR - 0.7% | |||||||
9,179 | * | Continental Airlines, Inc (Class B) | 201,938 | ||||
37,289 | * | JetBlue Airways Corp | 204,717 | ||||
TOTAL TRANSPORTATION BY AIR | 406,655 | ||||||
TRANSPORTATION EQUIPMENT - 3.5% | |||||||
5,172 | * | Autoliv, Inc | 247,480 | ||||
5,629 | Boeing Co | 353,220 | |||||
8,457 | Goodrich Corp | 560,276 | |||||
2,380 | Harsco Corp | 55,930 | |||||
15,026 | Honeywell International, Inc | 586,465 | |||||
1,923 | Magna International, Inc - Class A (NY) | 126,841 | |||||
3,607 | TransDigm Group, Inc | 184,065 | |||||
TOTAL TRANSPORTATION EQUIPMENT | 2,114,277 | ||||||
TRUCKING AND WAREHOUSING - 1.4% | |||||||
14,554 | United Parcel Service, Inc (Class B) | 827,977 | |||||
TOTAL TRUCKING AND WAREHOUSING | 827,977 | ||||||
9
TIAA-CREF LIFE FUNDS - Growth & Income Fund
SHARES | COMPANY | VALUE | |||||
WHOLESALE TRADE-NONDURABLE GOODS - 0.2% | |||||||
3,830 | * | United Natural Foods, Inc | $ | 114,440 | |||
TOTAL WHOLESALE TRADE-NONDURABLE GOODS | 114,440 | ||||||
TOTAL COMMON STOCKS (Cost $63,601,859) | 59,646,085 | ||||||
TOTAL INVESTMENTS - 99.6% (Cost $63,601,859) | 59,646,085 | ||||||
OTHER ASSETS & LIABILITIES, NET - 0.4% | 235,275 | ||||||
NET ASSETS - 100.0% | $ | 59,881,360 | |||||
Abbreviation(s):
ADR American Depositary Receipt
* | Non-income producing. |
10
TIAA-CREF LIFE FUNDS - International Equity Fund
TIAA-CREF LIFE FUNDS
INTERNATIONAL EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 97.3% | |||||||
BUSINESS SERVICES - 7.9% | |||||||
91,282 | Adecco S.A. | $ | 4,354,771 | ||||
52,708 | * | Autonomy Corp plc | 1,436,734 | ||||
10,830 | Mitsubishi UFJ Lease & Finance Co Ltd | 365,321 | |||||
42,129 | Playtech Ltd | 286,422 | |||||
TOTAL BUSINESS SERVICES | 6,443,248 | ||||||
CHEMICALS AND ALLIED PRODUCTS - 18.5% | |||||||
1,800 | Eisai Co Ltd | 59,726 | |||||
3,717 | Givaudan S.A. | 3,156,969 | |||||
80,600 | Henkel KGaA (Preference) | 3,935,755 | |||||
6,700 | Kao Corp | 157,643 | |||||
193,750 | * | L’ Occitane International SA | 422,488 | ||||
145,360 | Lanxess AG. | 6,118,407 | |||||
24,269 | Reckitt Benckiser Group plc | 1,128,857 | |||||
1,800 | Tsumura & Co | 55,113 | |||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 15,034,958 | ||||||
COMMUNICATIONS - 0.3% | |||||||
5,500 | Nippon Telegraph & Telephone Corp | 224,047 | |||||
TOTAL COMMUNICATIONS | 224,047 | ||||||
DEPOSITORY INSTITUTIONS - 3.7% | |||||||
44 | Australia & New Zealand Banking Group Ltd | 790 | |||||
329,800 | Bank Rakyat Indonesia | 334,832 | |||||
30,703 | HDFC Bank Ltd | 1,260,908 | |||||
222,400 | Mitsubishi UFJ Financial Group, Inc | 1,009,853 | |||||
8,000 | Mitsui Trust Holdings, Inc | 28,212 | |||||
726 | Societe Generale | 29,874 | |||||
11,500 | Sumitomo Mitsui Financial Group, Inc | 325,477 | |||||
3,000 | Suruga Bank Ltd | 27,228 | |||||
TOTAL DEPOSITORY INSTITUTIONS | 3,017,174 | ||||||
EDUCATIONAL SERVICES - 0.0% | |||||||
100 | Benesse Corp | 4,552 | |||||
TOTAL EDUCATIONAL SERVICES | 4,552 | ||||||
ELECTRIC, GAS, AND SANITARY SERVICES - 1.9% | |||||||
70,996 | Fortum Oyj | 1,558,411 | |||||
TOTAL ELECTRIC, GAS, AND SANITARY SERVICES | 1,558,411 | ||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 6.0% | |||||||
267,150 | Hon Hai Precision Industry Co, Ltd | 936,407 | |||||
3,200 | Matsushita Electric Industrial Co Ltd | 39,958 | |||||
42,000 | Mitsubishi Electric Corp | 327,806 | |||||
100 | Murata Manufacturing Co Ltd | 4,769 | |||||
800 | Nidec Corp | 66,974 | |||||
1,000 | Nitto Denko Corp | 32,803 | |||||
212,132 | Smiths Group plc | 3,377,317 | |||||
4,900 | * | Sony Corp | 130,698 | ||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 4,916,732 | ||||||
11
TIAA-CREF LIFE FUNDS - International Equity Fund
SHARES | COMPANY | VALUE | |||||
ENGINEERING AND MANAGEMENT SERVICES - 2.5% | |||||||
32,417 | Tecan Group AG. | $ | 2,063,963 | ||||
TOTAL ENGINEERING AND MANAGEMENT SERVICES | 2,063,963 | ||||||
FOOD AND KINDRED PRODUCTS - 2.2% | |||||||
32,382 | InBev NV | 1,556,966 | |||||
10,000 | Toyo Suisan Kaisha Ltd | 238,676 | |||||
TOTAL FOOD AND KINDRED PRODUCTS | 1,795,642 | ||||||
GENERAL MERCHANDISE STORES - 0.5% | |||||||
9,400 | Ryohin Keikaku Co Ltd | 373,670 | |||||
TOTAL GENERAL MERCHANDISE STORES | 373,670 | ||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.7% | |||||||
17,474 | Saipem S.p.A. | 532,227 | |||||
TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING | 532,227 | ||||||
HOLDING AND OTHER INVESTMENT OFFICES - 0.4% | |||||||
35,971 | Westfield Group | 365,529 | |||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 365,529 | ||||||
HOTELS AND OTHER LODGING PLACES - 4.4% | |||||||
2,397,600 | *,f | Sands China Ltd | 3,543,604 | ||||
TOTAL HOTELS AND OTHER LODGING PLACES | 3,543,604 | ||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 9.1% | |||||||
118,929 | Alfa Laval AB | 1,544,453 | |||||
4,680 | Burckhardt Compression Holding AG. | 824,306 | |||||
4,170 | Canon, Inc | 155,414 | |||||
500 | Daikin Industries Ltd | 15,245 | |||||
1,000 | * | Fanuc Ltd | 112,923 | ||||
840 | FUJIFILM Holdings Corp | 24,276 | |||||
5,530 | Komatsu Ltd | 99,574 | |||||
177,000 | * | NTN Corp | 724,580 | ||||
29,220 | Rheinmetall AG. | 1,668,961 | |||||
123,637 | SKF AB (B Shares) | 2,218,935 | |||||
100 | Sumitomo Heavy Industries Ltd | 587 | |||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 7,389,254 | ||||||
INSTRUMENTS AND RELATED PRODUCTS - 1.6% | |||||||
10,166 | Phonak Holding AG. | 1,247,546 | |||||
1,000 | Terumo Corp | 47,890 | |||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 1,295,436 | ||||||
INSURANCE AGENTS, BROKERS AND SERVICE - 0.0% | |||||||
1,100 | Millea Holdings, Inc | 28,919 | |||||
TOTAL INSURANCE AGENTS, BROKERS AND SERVICE | 28,919 | ||||||
INSURANCE CARRIERS - 0.0% | |||||||
1,050 | T&D Holdings, Inc | 22,451 | |||||
TOTAL INSURANCE CARRIERS | 22,451 | ||||||
12
TIAA-CREF LIFE FUNDS - International Equity Fund
SHARES | COMPANY | VALUE | |||||
METAL MINING - 1.4% | |||||||
23,918 | * | Anglo American plc | $ | 833,427 | |||
1,557 | BHP Billiton Ltd | 48,438 | |||||
4,302 | Rio Tinto Ltd | 236,586 | |||||
TOTAL METAL MINING | 1,118,451 | ||||||
MISCELLANEOUS RETAIL - 0.2% | |||||||
7,000 | Seven & I Holdings Co Ltd | 160,379 | |||||
TOTAL MISCELLANEOUS RETAIL | 160,379 | ||||||
NONDEPOSITORY INSTITUTIONS - 0.4% | |||||||
4,471 | ORIX Corp | 323,901 | |||||
TOTAL NONDEPOSITORY INSTITUTIONS | 323,901 | ||||||
OIL AND GAS EXTRACTION - 2.4% | |||||||
541,000 | CNOOC Ltd | 919,525 | |||||
69,478 | Tullow Oil plc | 1,033,507 | |||||
TOTAL OIL AND GAS EXTRACTION | 1,953,032 | ||||||
PAPER AND ALLIED PRODUCTS - 2.4% | |||||||
1,426,600 | Nine Dragons Paper Holdings Ltd | 1,921,945 | |||||
TOTAL PAPER AND ALLIED PRODUCTS | 1,921,945 | ||||||
PETROLEUM AND COAL PRODUCTS - 0.1% | |||||||
3,148 | Royal Dutch Shell plc (A Shares) | 79,444 | |||||
162 | Total S.A. | 7,231 | |||||
TOTAL PETROLEUM AND COAL PRODUCTS | 86,675 | ||||||
PRIMARY METAL INDUSTRIES - 0.1% | |||||||
8,100 | Nippon Steel Corp | 26,774 | |||||
17,000 | Sumitomo Metal Industries Ltd | 38,438 | |||||
3,200 | Sumitomo Metal Mining Co Ltd | 39,920 | |||||
TOTAL PRIMARY METAL INDUSTRIES | 105,132 | ||||||
RAILROAD TRANSPORTATION - 0.1% | |||||||
13 | Central Japan Railway Co | 107,339 | |||||
TOTAL RAILROAD TRANSPORTATION | 107,339 | ||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 3.5% | |||||||
26,308 | Bayer AG. | 1,470,128 | |||||
5,000 | * | NOK Corp | 79,399 | ||||
105,703 | SSL International plc | 1,272,941 | |||||
TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 2,822,468 | ||||||
SECURITY AND COMMODITY BROKERS - 10.3% | |||||||
25,505 | Credit Suisse Group | 958,917 | |||||
51,533 | Deutsche Boerse AG. | 3,130,808 | |||||
708,410 | ICAP plc | 4,246,014 | |||||
11,500 | * | Nomura Holdings, Inc | 62,830 | ||||
TOTAL SECURITY AND COMMODITY BROKERS | 8,398,569 | ||||||
13
TIAA-CREF LIFE FUNDS - International Equity Fund
SHARES | COMPANY | VALUE | |||||
TEXTILE MILL PRODUCTS - 1.3% | |||||||
367,000 | Teijin Ltd | $ | 1,089,608 | ||||
TOTAL TEXTILE MILL PRODUCTS | 1,089,608 | ||||||
TOBACCO PRODUCTS - 3.0% | |||||||
88,326 | Imperial Tobacco Group plc | 2,467,889 | |||||
TOTAL TOBACCO PRODUCTS | 2,467,889 | ||||||
TRANSPORTATION EQUIPMENT - 2.6% | |||||||
830,000 | China South Locomotive and Rolling Stock Corp | 567,413 | |||||
2,220 | Denso Corp | 61,358 | |||||
14,100 | Honda Motor Co Ltd | 414,157 | |||||
79,900 | * | Yamaha Motor Co Ltd | 1,056,296 | ||||
TOTAL TRANSPORTATION EQUIPMENT | 2,099,224 | ||||||
WATER TRANSPORTATION - 0.1% | |||||||
8,000 | Mitsui OSK Lines Ltd | 52,893 | |||||
TOTAL WATER TRANSPORTATION | 52,893 | ||||||
WHOLESALE TRADE-DURABLE GOODS - 9.7% | |||||||
106,554 | Assa Abloy AB (Class B) | 2,129,793 | |||||
1,092,000 | Li & Fung Ltd | 4,885,581 | |||||
5,940 | Mitsubishi Corp | 122,889 | |||||
7,000 | Mitsui & Co Ltd | 81,660 | |||||
13,050 | Sumitomo Corp | 130,330 | |||||
27,031 | * | Wolseley plc | 536,562 | ||||
TOTAL WHOLESALE TRADE-DURABLE GOODS | 7,886,815 | ||||||
TOTAL COMMON STOCKS (Cost $84,298,483) | 79,204,137 | ||||||
TOTAL INVESTMENTS - 97.3% (Cost $84,298,483) | 79,204,137 | ||||||
OTHER ASSETS & LIABILITIES, NET - 2.7% | 2,184,396 | ||||||
NET ASSETS - 100.0% | $ | 81,388,533 | |||||
* | Non-income producing. |
f | Restricted security. |
14
TIAA-CREF LIFE FUNDS
INTERNATIONAL EQUITY FUND
SUMMARY OF MARKET VALUES BY COUNTRY (unaudited)
June 30, 2010
Country | Value | % of total | ||||
FOREIGN | ||||||
AUSTRALIA | $ | 651,343 | 0.8 | % | ||
BELGIUM | 1,556,966 | 2.0 | ||||
CHINA | 3,408,883 | 4.3 | ||||
FINLAND | 1,558,411 | 2.0 | ||||
FRANCE | 37,105 | 0.0 | ||||
GERMANY | 16,324,059 | 20.6 | ||||
HONG KONG | 4,885,581 | 6.2 | ||||
INDIA | 1,260,908 | 1.6 | ||||
INDONESIA | 334,832 | 0.4 | ||||
ITALY | 532,227 | 0.7 | ||||
JAPAN | 8,552,556 | 10.8 | ||||
LUXEMBOURG | 422,488 | 0.5 | ||||
MACAU | 3,543,604 | 4.5 | ||||
NETHERLANDS | 79,444 | 0.1 | ||||
SWEDEN | 5,893,181 | 7.4 | ||||
SWITZERLAND | 12,606,472 | 15.9 | ||||
TAIWAN | 936,407 | 1.2 | ||||
UNITED KINGDOM | 16,619,670 | 21.0 | ||||
TOTAL FOREIGN | 79,204,137 | 100.0 | ||||
TOTAL PORTFOLIO | $ | 79,204,137 | 100.0 | % | ||
15
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
TIAA-CREF LIFE FUNDS
LARGE-CAP VALUE FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 100.0% | |||||||
AMUSEMENT AND RECREATION SERVICES - 1.0% | |||||||
9,758 | * | Penn National Gaming, Inc | $ | 225,410 | |||
9,956 | Walt Disney Co | 313,614 | |||||
TOTAL AMUSEMENT AND RECREATION SERVICES | 539,024 | ||||||
APPAREL AND ACCESSORY STORES - 0.4% | |||||||
3,955 | Abercrombie & Fitch Co (Class A) | 121,379 | |||||
7,148 | * | Talbots, Inc | 73,696 | ||||
TOTAL APPAREL AND ACCESSORY STORES | 195,075 | ||||||
APPAREL AND OTHER TEXTILE PRODUCTS - 0.0% | |||||||
157 | * | Liz Claiborne, Inc | 663 | ||||
TOTAL APPAREL AND OTHER TEXTILE PRODUCTS | 663 | ||||||
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.6% | |||||||
16,005 | Lowe’s Cos, Inc | 326,822 | |||||
TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES | 326,822 | ||||||
BUSINESS SERVICES - 2.6% | |||||||
4,897 | * | Alliance Data Systems Corp | 291,469 | ||||
4,140 | DST Systems, Inc | 149,620 | |||||
23,114 | * | eBay, Inc | 453,266 | ||||
10,108 | * | Interpublic Group of Cos, Inc | 72,070 | ||||
8,496 | Microsoft Corp | 195,493 | |||||
2,130 | Playtech Ltd | 14,481 | |||||
12,043 | * | Symantec Corp | 167,157 | ||||
TOTAL BUSINESS SERVICES | 1,343,556 | ||||||
CHEMICALS AND ALLIED PRODUCTS - 17.3% | |||||||
7,751 | Alberto-Culver Co | 209,975 | |||||
17,232 | * | Amgen, Inc | 906,403 | ||||
53,276 | * | Biovitrum AB | 252,370 | ||||
25,153 | Bristol-Myers Squibb Co | 627,316 | |||||
2,117 | CF Industries Holdings, Inc | 134,324 | |||||
1,668 | Clorox Co | 103,683 | |||||
1,896 | Cytec Industries, Inc | 75,821 | |||||
8,940 | Dow Chemical Co | 212,057 | |||||
2,865 | Du Pont (E.I.) de Nemours & Co | 99,100 | |||||
15,715 | * | Ferro Corp | 115,820 | ||||
9,217 | * | Georgia Gulf Corp | 122,955 | ||||
18,143 | Huntsman Corp | 157,300 | |||||
4,541 | Johnson & Johnson | 268,191 | |||||
1,973 | Lonza Group AG. | 131,361 | |||||
32,961 | Merck & Co, Inc | 1,152,646 | |||||
6,427 | Novartis AG. (ADR) | 310,553 | |||||
84,245 | Pfizer, Inc | 1,201,334 | |||||
26,901 | Procter & Gamble Co | 1,613,521 | |||||
4,876 | Shire plc (ADR) | 299,289 | |||||
4,801 | Teva Pharmaceutical Industries Ltd (ADR) | 249,604 | |||||
12,377 | * | Vanda Pharmaceuticals, Inc | 81,812 | ||||
10,465 | * | Watson Pharmaceuticals, Inc | 424,565 | ||||
4,776 | * | WR Grace & Co | 100,487 | ||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 8,850,487 | ||||||
16
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
SHARES | COMPANY | VALUE | |||||
COMMUNICATIONS - 7.8% | |||||||
15,952 | * | AOL, Inc | $ | 331,642 | |||
38,040 | AT&T, Inc | 920,188 | |||||
10,834 | CBS Corp (Class B) | 140,084 | |||||
22,429 | Comcast Corp (Class A) | 389,592 | |||||
4,493 | DISH Network Corp (Class A) | 81,548 | |||||
3,111 | * | Liberty Media Corp - Starz | 161,274 | ||||
37,580 | * | MetroPCS Communications, Inc | 307,780 | ||||
43,785 | Qwest Communications International, Inc | 229,871 | |||||
92,572 | * | Sprint Nextel Corp | 392,505 | ||||
86,276 | Telecom Italia RSP | 78,810 | |||||
508 | Time Warner Cable, Inc | 26,457 | |||||
32,942 | Verizon Communications, Inc | 923,034 | |||||
TOTAL COMMUNICATIONS | 3,982,785 | ||||||
DEPOSITORY INSTITUTIONS - 14.1% | |||||||
21,847 | AMMB Holdings Berhad | 33,483 | |||||
19,118 | Banco Bilbao Vizcaya Argentaria S.A. | 196,971 | |||||
78,747 | Bank of America Corp | 1,131,595 | |||||
6,449 | Bank of New York Mellon Corp | 159,226 | |||||
263,556 | * | Citigroup, Inc | 990,971 | ||||
77,709 | Huntington Bancshares, Inc | 430,508 | |||||
21,327 | JPMorgan Chase & Co | 780,781 | |||||
31,808 | Marshall & Ilsley Corp | 228,381 | |||||
13,410 | State Street Corp | 453,526 | |||||
71,673 | Synovus Financial Corp | 182,049 | |||||
11,207 | TCF Financial Corp | 186,148 | |||||
41,802 | US Bancorp | 934,275 | |||||
59,482 | Wells Fargo & Co | 1,522,740 | |||||
TOTAL DEPOSITORY INSTITUTIONS | 7,230,654 | ||||||
EDUCATIONAL SERVICES - 0.3% | |||||||
19,625 | CAE, Inc | 170,155 | |||||
TOTAL EDUCATIONAL SERVICES | 170,155 | ||||||
ELECTRIC, GAS, AND SANITARY SERVICES - 5.7% | |||||||
4,300 | American Electric Power Co, Inc | 138,890 | |||||
21,130 | Centerpoint Energy, Inc | 278,071 | |||||
2,685 | Constellation Energy Group, Inc | 86,591 | |||||
13,483 | El Paso Corp | 149,796 | |||||
856 | Entergy Corp | 61,307 | |||||
5,600 | Exelon Corp | 212,632 | |||||
1,519 | FirstEnergy Corp | 53,514 | |||||
7,483 | FPL Group, Inc | 364,871 | |||||
2,765 | * | Mirant Corp | 29,198 | ||||
5,811 | * | NRG Energy, Inc | 123,251 | ||||
10,609 | NV Energy, Inc | 125,292 | |||||
5,981 | PG&E Corp | 245,819 | |||||
5,666 | PPL Corp | 141,367 | |||||
9,996 | Public Service Enterprise Group, Inc | 313,175 | |||||
2,181 | Questar Corp | 99,214 | |||||
78,525 | * | Reliant Energy, Inc | 297,610 | ||||
140 | Southern Union Co | 3,060 | |||||
8,307 | Williams Cos, Inc | 151,852 | |||||
2,383 | Xcel Energy, Inc | 49,114 | |||||
TOTAL ELECTRIC, GAS, AND SANITARY SERVICES | 2,924,624 | ||||||
17
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
SHARES | COMPANY | VALUE | |||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 3.3% | |||||||
7,443 | Broadcom Corp (Class A) | $ | 245,396 | ||||
4,368 | * | Ciena Corp | 55,386 | ||||
12,549 | * | Cisco Systems, Inc | 267,419 | ||||
6,589 | Hewlett-Packard Co | 285,172 | |||||
16,160 | Intel Corp | 314,312 | |||||
6,034 | * | JDS Uniphase Corp | 59,375 | ||||
5,660 | Koninklijke Philips Electronics NV (ADR) | 168,894 | |||||
9,547 | * | MEMC Electronic Materials, Inc | 94,324 | ||||
26,123 | * | Motorola, Inc | 170,322 | ||||
52 | Qualcomm, Inc | 1,708 | |||||
558,266 | Solomon Systech International Ltd | 41,866 | |||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 1,704,174 | ||||||
ENGINEERING AND MANAGEMENT SERVICES - 0.6% | |||||||
20 | * | Affymax, Inc | 120 | ||||
3,013 | * | Jacobs Engineering Group, Inc | 109,794 | ||||
10,189 | KBR, Inc | 207,244 | |||||
TOTAL ENGINEERING AND MANAGEMENT SERVICES | 317,158 | ||||||
FOOD AND KINDRED PRODUCTS - 4.5% | |||||||
12,873 | Coca-Cola Co | 645,195 | |||||
17,178 | * | Dean Foods Co | 172,982 | ||||
9,952 | General Mills, Inc | 353,495 | |||||
32,458 | Kraft Foods, Inc (Class A) | 908,824 | |||||
8,953 | Unilever plc (ADR) | 239,314 | |||||
TOTAL FOOD AND KINDRED PRODUCTS | 2,319,810 | ||||||
FOOD STORES - 0.2% | |||||||
5,426 | Kroger Co | 106,838 | |||||
TOTAL FOOD STORES | 106,838 | ||||||
FORESTRY - 0.2% | |||||||
2,769 | Rayonier, Inc | 121,891 | |||||
TOTAL FORESTRY | 121,891 | ||||||
FURNITURE AND FIXTURES - 0.2% | |||||||
10,678 | Masco Corp | 114,895 | |||||
TOTAL FURNITURE AND FIXTURES | 114,895 | ||||||
GENERAL MERCHANDISE STORES - 0.6% | |||||||
6,895 | JC Penney Co, Inc | 148,105 | |||||
3,481 | Target Corp | 171,160 | |||||
TOTAL GENERAL MERCHANDISE STORES | 319,265 | ||||||
HOLDING AND OTHER INVESTMENT OFFICES - 1.5% | |||||||
388 | Boston Properties, Inc | 27,680 | |||||
14,429 | Glimcher Realty Trust | 86,285 | |||||
20,012 | Kimco Realty Corp | 268,961 | |||||
1,245 | Plum Creek Timber Co, Inc | 42,990 | |||||
771 | Regency Centers Corp | 26,522 | |||||
355 | Simon Property Group, Inc | 28,666 | |||||
2,638 | SL Green Realty Corp | 145,196 | |||||
6,690 | Starwood Property Trust, Inc | 113,396 | |||||
777 | Vornado Realty Trust | 56,682 | |||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 796,378 | ||||||
18
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
SHARES | COMPANY | VALUE | |||||
HOTELS AND OTHER LODGING PLACES - 0.3% | |||||||
86,000 | * | Wynn Macau Ltd | $ | 140,243 | |||
TOTAL HOTELS AND OTHER LODGING PLACES | 140,243 | ||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.1% | |||||||
249 | * | Fortinet, Inc | 4,094 | ||||
95,312 | General Electric Co | 1,374,398 | |||||
10,477 | International Game Technology | 164,489 | |||||
4,996 | * | Lexmark International, Inc (Class A) | 165,018 | ||||
3,566 | Northrop Grumman Corp | 194,133 | |||||
4,926 | SPX Corp | 260,142 | |||||
20,279 | Textron, Inc | 344,135 | |||||
15,145 | * | Verigy Ltd | 131,610 | ||||
62,047 | Xerox Corp | 498,858 | |||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 3,136,877 | ||||||
INSTRUMENTS AND RELATED PRODUCTS - 2.7% | |||||||
76,620 | * | Boston Scientific Corp | 444,396 | ||||
4,614 | * | Bruker BioSciences Corp | 56,106 | ||||
11,204 | Danaher Corp | 415,892 | |||||
8,934 | * | Hologic, Inc | 124,451 | ||||
7,531 | * | Life Technologies Corp | 355,840 | ||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 1,396,685 | ||||||
INSURANCE CARRIERS - 6.8% | |||||||
9,030 | ACE Ltd | 464,864 | |||||
47 | * | Aegon NV | 248 | ||||
1,607 | Allstate Corp | 46,169 | |||||
5,903 | Axis Capital Holdings Ltd | 175,437 | |||||
6,580 | Lincoln National Corp | 159,828 | |||||
2,468 | Max Capital Group Ltd | 46,349 | |||||
12,695 | Metlife, Inc | 479,363 | |||||
5,724 | * | MGIC Investment Corp | 39,438 | ||||
2,325 | PartnerRe Ltd | 163,076 | |||||
585 | * | Primerica, Inc | 12,542 | ||||
7,503 | Prudential Financial, Inc | 402,611 | |||||
2,676 | RenaissanceRe Holdings Ltd | 150,579 | |||||
847 | Transatlantic Holdings, Inc | 40,622 | |||||
7,813 | Travelers Cos, Inc | 384,790 | |||||
25,467 | UnitedHealth Group, Inc | 723,264 | |||||
3,743 | * | WellPoint, Inc | 183,145 | ||||
TOTAL INSURANCE CARRIERS | 3,472,325 | ||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.7% | |||||||
1,770 | Hasbro, Inc | 72,747 | |||||
11,004 | Jarden Corp | 295,677 | |||||
TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES | 368,424 | ||||||
MISCELLANEOUS RETAIL - 0.6% | |||||||
9,928 | CVS Corp | 291,089 | |||||
TOTAL MISCELLANEOUS RETAIL | 291,089 | ||||||
19
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
SHARES | COMPANY | VALUE | |||||
MOTION PICTURES - 0.7% | |||||||
14,251 | News Corp (Class A) | $ | 170,441 | ||||
3,015 | Time Warner, Inc | 87,164 | |||||
3,921 | Viacom, Inc (Class B) | 123,002 | |||||
TOTAL MOTION PICTURES | 380,607 | ||||||
NONDEPOSITORY INSTITUTIONS - 1.2% | |||||||
48,956 | Chimera Investment Corp | 176,731 | |||||
12,390 | Discover Financial Services | 173,212 | |||||
9,291 | * | Utilities Select Sector SPDR F | 262,564 | ||||
TOTAL NONDEPOSITORY INSTITUTIONS | 612,507 | ||||||
OIL AND GAS EXTRACTION - 5.9% | |||||||
5,555 | Anadarko Petroleum Corp | 200,480 | |||||
2,956 | Apache Corp | 248,866 | |||||
3,387 | Cabot Oil & Gas Corp | 106,081 | |||||
975 | Chesapeake Energy Corp | 20,426 | |||||
20,106 | * | Cobalt International Energy, Inc | 149,790 | ||||
2,744 | * | Concho Resources, Inc | 151,826 | ||||
6,948 | *,m | Crescent Point Energy Corp | 242,532 | ||||
5,529 | * | Denbury Resources, Inc | 80,945 | ||||
1,709 | Devon Energy Corp | 104,112 | |||||
6,777 | Ensco International plc (ADR) | 266,201 | |||||
6,162 | * | Nabors Industries Ltd | 108,574 | ||||
3,707 | National Oilwell Varco, Inc | 122,590 | |||||
9,951 | Occidental Petroleum Corp | 767,719 | |||||
77 | * | Plains Exploration & Production Co | 1,587 | ||||
34,964 | * | Weatherford International Ltd | 459,427 | ||||
TOTAL OIL AND GAS EXTRACTION | 3,031,156 | ||||||
PAPER AND ALLIED PRODUCTS - 0.7% | |||||||
11,841 | Sonoco Products Co | 360,914 | |||||
TOTAL PAPER AND ALLIED PRODUCTS | 360,914 | ||||||
PETROLEUM AND COAL PRODUCTS - 4.0% | |||||||
12,859 | Chevron Corp | 872,612 | |||||
2,135 | Exxon Mobil Corp | 121,849 | |||||
17,824 | Marathon Oil Corp | 554,148 | |||||
7,793 | Walter Industries, Inc | 474,204 | |||||
7,308 | * | Western Refining, Inc | 36,759 | ||||
TOTAL PETROLEUM AND COAL PRODUCTS | 2,059,572 | ||||||
PIPELINES, EXCEPT NATURAL GAS - 0.0% | |||||||
398 | Spectra Energy Corp | 7,988 | |||||
TOTAL PIPELINES, EXCEPT NATURAL GAS | 7,988 | ||||||
PRIMARY METAL INDUSTRIES - 0.2% | |||||||
2,439 | Schnitzer Steel Industries, Inc (Class A) | 95,609 | |||||
TOTAL PRIMARY METAL INDUSTRIES | 95,609 | ||||||
REAL ESTATE - 0.0% | |||||||
55,923 | * | Unitech Corporate Parks plc | 21,540 | ||||
TOTAL REAL ESTATE | 21,540 | ||||||
20
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
SHARES | COMPANY | VALUE | |||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.3% | |||||||
12,814 | SSL International plc | $ | 154,314 | ||||
TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 154,314 | ||||||
SECURITY AND COMMODITY BROKERS - 2.9% | |||||||
201 | CME Group, Inc | 56,592 | |||||
16,323 | * | E*Trade Financial Corp | 192,939 | ||||
4,839 | Goldman Sachs Group, Inc | 635,215 | |||||
10,399 | Legg Mason, Inc | 291,484 | |||||
14,696 | Morgan Stanley | 341,094 | |||||
TOTAL SECURITY AND COMMODITY BROKERS | 1,517,324 | ||||||
STONE, CLAY, AND GLASS PRODUCTS - 0.2% | |||||||
5,313 | Corning, Inc | 85,805 | |||||
TOTAL STONE, CLAY, AND GLASS PRODUCTS | 85,805 | ||||||
TOBACCO PRODUCTS - 0.8% | |||||||
21,771 | Altria Group, Inc | 436,291 | |||||
TOTAL TOBACCO PRODUCTS | 436,291 | ||||||
TRANSPORTATION BY AIR - 0.7% | |||||||
7,960 | * | Continental Airlines, Inc (Class B) | 175,120 | ||||
16,197 | * | Delta Air Lines, Inc | 190,315 | ||||
TOTAL TRANSPORTATION BY AIR | 365,435 | ||||||
TRANSPORTATION EQUIPMENT - 3.5% | |||||||
44,505 | * | American Axle & Manufacturing Holdings, Inc | 326,221 | ||||
4,910 | Boeing Co | 308,102 | |||||
2,935 | Goodrich Corp | 194,444 | |||||
9,071 | Harsco Corp | 213,169 | |||||
9,493 | Honeywell International, Inc | 370,511 | |||||
4,562 | Magna International, Inc - Class A (NY) | 300,910 | |||||
1,265 | Paccar, Inc | 50,436 | |||||
1,752 | * | Tesla Motors, Inc | 41,750 | ||||
TOTAL TRANSPORTATION EQUIPMENT | 1,805,543 | ||||||
TRANSPORTATION SERVICES - 0.5% | |||||||
19,842 | UTI Worldwide, Inc | 245,644 | |||||
TOTAL TRANSPORTATION SERVICES | 245,644 | ||||||
TRUCKING AND WAREHOUSING - 0.3% | |||||||
5,399 | Con-way, Inc | 162,078 | |||||
TOTAL TRUCKING AND WAREHOUSING | 162,078 | ||||||
TOTAL COMMON STOCKS (Cost $57,586,394) | 51,512,224 | ||||||
TOTAL INVESTMENTS - 100.0% (Cost $57,586,394) | 51,512,224 | ||||||
OTHER ASSETS & LIABILITIES, NET - 0.0% | 11,840 | ||||||
NET ASSETS - 100.0% | $ | 51,524,064 | |||||
21
TIAA-CREF LIFE FUNDS - Large-Cap Value Fund
Abbreviation(s):
ADR American Depositary Receipt
SPDR Standard & Poor’s Depository Receipts
* | Non-income producing. |
m | Indicates a security that has been deemed illiquid. |
22
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
TIAA-CREF LIFE FUNDS
SMALL-CAP EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 99.9% | |||||||
AGRICULTURAL PRODUCTION-CROPS - 0.1% | |||||||
3,980 | * | Chiquita Brands International, Inc | $ | 48,357 | |||
TOTAL AGRICULTURAL PRODUCTION-CROPS | 48,357 | ||||||
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.1% | |||||||
2,600 | * | Pilgrim’s Pride Corp | 17,082 | ||||
29 | Seaboard Corp | 43,790 | |||||
TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK | 60,872 | ||||||
AMUSEMENT AND RECREATION SERVICES - 0.2% | |||||||
5,875 | World Wrestling Entertainment, Inc (Class A) | 91,415 | |||||
TOTAL AMUSEMENT AND RECREATION SERVICES | 91,415 | ||||||
APPAREL AND ACCESSORY STORES - 2.3% | |||||||
9,128 | * | AnnTaylor Stores Corp | 148,513 | ||||
2,525 | * | Carter’s, Inc | 66,281 | ||||
6,244 | Cato Corp (Class A) | 137,493 | |||||
5,900 | * | Charming Shoppes, Inc | 22,125 | ||||
2,414 | * | Citi Trends, Inc | 79,517 | ||||
1,220 | * | Collective Brands, Inc | 19,276 | ||||
461 | * | Dress Barn, Inc | 10,976 | ||||
7,650 | * | DSW, Inc (Class A) | 171,820 | ||||
11,797 | Finish Line, Inc (Class A) | 164,332 | |||||
3,753 | * | J Crew Group, Inc | 138,148 | ||||
1,011 | Stage Stores, Inc | 10,797 | |||||
5,300 | * | Talbots, Inc | 54,643 | ||||
TOTAL APPAREL AND ACCESSORY STORES | 1,023,921 | ||||||
APPAREL AND OTHER TEXTILE PRODUCTS - 0.7% | |||||||
1,300 | * | Gymboree Corp | 55,523 | ||||
7,635 | Jones Apparel Group, Inc | 121,016 | |||||
7,600 | * | Liz Claiborne, Inc | 32,072 | ||||
2,037 | * | Maidenform Brands, Inc | 41,473 | ||||
1,639 | * | Warnaco Group, Inc | 59,233 | ||||
TOTAL APPAREL AND OTHER TEXTILE PRODUCTS | 309,317 | ||||||
AUTO REPAIR, SERVICES AND PARKING - 0.3% | |||||||
3,149 | * | Dollar Thrifty Automotive Group, Inc | 134,179 | ||||
TOTAL AUTO REPAIR, SERVICES AND PARKING | 134,179 | ||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.2% | |||||||
11,662 | * | Sonic Automotive, Inc (Class A) | 99,827 | ||||
TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS | 99,827 | ||||||
BUSINESS SERVICES - 8.4% | |||||||
307 | * | ACI Worldwide, Inc | 5,977 | ||||
7,978 | * | Actuate Corp | 35,502 | ||||
7,115 | * | Acxiom Corp | 104,519 | ||||
6,540 | * | AMN Healthcare Services, Inc | 48,919 | ||||
3,784 | * | APAC Customer Services, Inc | 21,569 | ||||
5,348 | * | ArcSight, Inc | 119,742 | ||||
2,890 | * | Art Technology Group, Inc | 9,884 |
23
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
2,200 | * | Avis Budget Group, Inc | $ | 21,604 | |||
5,797 | BGC Partners, Inc (Class A) | 29,623 | |||||
1,770 | Blackbaud, Inc | 38,533 | |||||
700 | * | Blue Coat Systems, Inc | 14,301 | ||||
2,264 | * | Bottomline Technologies, Inc | 29,500 | ||||
1,760 | * | CACI International, Inc (Class A) | 74,765 | ||||
630 | * | Capella Education Co | 51,251 | ||||
8,809 | * | Cogent, Inc | 79,369 | ||||
9,654 | * | Commvault Systems, Inc | 217,214 | ||||
4,277 | Compass Diversified Trust | 57,355 | |||||
3,633 | * | Compellent Technologies, Inc | 44,032 | ||||
5,571 | * | CSG Systems International, Inc | 102,116 | ||||
2,152 | * | Digital River, Inc | 51,454 | ||||
1,250 | * | Dynamics Research Corp | 12,638 | ||||
2,578 | * | DynaVox, Inc | 41,274 | ||||
9,545 | Earthlink, Inc | 75,978 | |||||
3,200 | * | Ebix, Inc | 50,176 | ||||
1,580 | * | Forrester Research, Inc | 47,811 | ||||
880 | * | Gartner, Inc | 20,460 | ||||
3,505 | * | Global Sources Ltd | 27,479 | ||||
2,453 | * | Hackett Group, Inc | 6,893 | ||||
900 | Heartland Payment Systems, Inc | 13,356 | |||||
1,060 | * | Informatica Corp | 25,313 | ||||
187 | * | Integral Systems, Inc | 1,187 | ||||
2,000 | * | Interactive Intelligence, Inc | 32,860 | ||||
539 | * | inVentiv Health, Inc | 13,798 | ||||
1,930 | * | Kenexa Corp | 23,160 | ||||
500 | Keynote Systems, Inc | 4,510 | |||||
1,200 | * | Limelight Networks, Inc | 5,268 | ||||
6,200 | * | Lionbridge Technologies | 28,334 | ||||
1,210 | * | Liquidity Services, Inc | 15,682 | ||||
4,360 | * | Liveperson, Inc | 29,910 | ||||
7,000 | * | Magma Design Automation, Inc | 19,880 | ||||
4,182 | * | Manhattan Associates, Inc | 115,214 | ||||
1,770 | * | Mantech International Corp (Class A) | 75,349 | ||||
5,961 | * | Medidata Solutions, Inc | 92,336 | ||||
2,136 | * | MicroStrategy, Inc (Class A) | 160,392 | ||||
4,194 | * | ModusLink Global Solutions, Inc | 25,290 | ||||
12,130 | * | MoneyGram International, Inc | 29,719 | ||||
1,091 | * | NCI, Inc (Class A) | 24,635 | ||||
5,117 | * | Netscout Systems, Inc | 72,764 | ||||
1,000 | NIC, Inc | 6,410 | |||||
558 | * | On Assignment, Inc | 2,807 | ||||
2,709 | Pegasystems, Inc | 86,986 | |||||
400 | * | Portfolio Recovery Associates, Inc | 26,712 | ||||
9,286 | * | Quest Software, Inc | 167,518 | ||||
1,500 | * | Rackspace Hosting, Inc | 27,510 | ||||
484 | * | Rent-A-Center, Inc | 9,806 | ||||
2,338 | * | RightNow Technologies, Inc | 36,683 | ||||
2,157 | * | Rosetta Stone, Inc | 49,525 | ||||
8,034 | * | S1 Corp | 48,284 | ||||
2,683 | * | Saba Software, Inc | 13,817 | ||||
2,526 | Sapient Corp | 25,614 | |||||
4,119 | * | SolarWinds, Inc | 66,069 | ||||
5,326 | * | SonicWALL, Inc | 62,581 | ||||
800 | * | Sonus Networks, Inc | 2,168 | ||||
4,313 | * | Sourcefire, Inc | 81,947 | ||||
1,094 | * | SRA International, Inc (Class A) | 21,519 | ||||
2,370 | * | StarTek, Inc | 9,243 | ||||
2,504 | * | SuccessFactors, Inc | 52,058 | ||||
4,380 | * | SYKES Enterprises, Inc | 62,327 | ||||
1,920 | * | SYNNEX Corp | 49,190 |
24
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
144 | * | Take-Two Interactive Software, Inc | $ | 1,296 | |||
6,731 | * | TeleTech Holdings, Inc | 86,763 | ||||
9,904 | * | THQ, Inc | 42,785 | ||||
4,752 | * | TIBCO Software, Inc | 57,309 | ||||
9,056 | * | Unisys Corp | 167,444 | ||||
6,261 | * | Valueclick, Inc | 66,930 | ||||
428 | * | Vasco Data Security International | 2,641 | ||||
2,142 | * | Virtusa Corp | 19,985 | ||||
4,241 | * | Websense, Inc | 80,155 | ||||
TOTAL BUSINESS SERVICES | 3,682,977 | ||||||
CHEMICALS AND ALLIED PRODUCTS - 8.0% | |||||||
6,100 | * | Acorda Therapeutics, Inc | 189,770 | ||||
6,700 | * | Adolor Corp | 7,303 | ||||
1,825 | * | Alnylam Pharmaceuticals, Inc | 27,412 | ||||
700 | Arch Chemicals, Inc | 21,518 | |||||
1,820 | * | Ardea Biosciences, Inc | 37,419 | ||||
9,275 | * | Arqule, Inc | 39,883 | ||||
4,000 | * | Array Biopharma, Inc | 12,200 | ||||
1,613 | * | Auxilium Pharmaceuticals, Inc | 37,906 | ||||
13,812 | * | AVANIR Pharmaceuticals, Inc | 35,497 | ||||
1,160 | * | Caraco Pharmaceutical Laboratories Ltd | 5,475 | ||||
4,421 | * | Celldex Therapeutics, Inc | 20,160 | ||||
1,186 | * | China-Biotics, Inc | 15,430 | ||||
1,920 | * | Cornerstone Therapeutics, Inc | 11,309 | ||||
4,502 | * | Cubist Pharmaceuticals, Inc | 92,741 | ||||
4,522 | * | Emergent Biosolutions, Inc | 73,889 | ||||
3,100 | * | Enzon Pharmaceuticals, Inc | 33,015 | ||||
5,150 | * | Halozyme Therapeutics, Inc | 36,256 | ||||
1,460 | * | Hi-Tech Pharmacal Co, Inc | 33,449 | ||||
2,491 | * | Immucor, Inc | 47,454 | ||||
6,900 | * | Impax Laboratories, Inc | 131,514 | ||||
3,405 | Innophos Holdings, Inc | 88,802 | |||||
3,681 | Innospec, Inc | 34,528 | |||||
9,623 | * | Inspire Pharmaceuticals, Inc | 48,019 | ||||
280 | Inter Parfums, Inc | 3,984 | |||||
600 | * | Landec Corp | 3,534 | ||||
1,920 | * | Lannett Co, Inc | 8,774 | ||||
4,739 | * | Ligand Pharmaceuticals, Inc (Class B) | 6,919 | ||||
2,353 | * | MAP Pharmaceuticals, Inc | 30,871 | ||||
1,100 | * | Martek Biosciences Corp | 26,081 | ||||
14,118 | * | Medicines Co | 107,438 | ||||
7,903 | Medicis Pharmaceutical Corp (Class A) | 172,917 | |||||
4,546 | * | Medivation, Inc | 40,187 | ||||
3,790 | * | Micromet, Inc | 23,650 | ||||
2,795 | Minerals Technologies, Inc | 132,874 | |||||
1,308 | * | Momenta Pharmaceuticals, Inc | 16,036 | ||||
2,440 | * | Neurocrine Biosciences, Inc | 13,664 | ||||
1,800 | * | Novacea, Inc | 14,994 | ||||
9,434 | * | NPS Pharmaceuticals, Inc | 60,755 | ||||
2,701 | * | Obagi Medical Products, Inc | 31,926 | ||||
500 | Olin Corp | 9,045 | |||||
2,753 | * | OM Group, Inc | 65,687 | ||||
15,311 | * | Omnova Solutions, Inc | 119,579 | ||||
1,561 | * | Onyx Pharmaceuticals, Inc | 33,702 | ||||
699 | * | Orexigen Therapeutics, Inc | 2,936 | ||||
3,865 | * | Par Pharmaceutical Cos, Inc | 100,335 | ||||
2,090 | * | Parexel International Corp | 45,311 | ||||
129 | PetMed Express, Inc | 2,296 | |||||
18,560 | * | PolyOne Corp | 156,274 |
25
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
1,078 | * | Pozen, Inc | $ | 7,557 | |||
8,604 | *,m | Questcor Pharmaceuticals, Inc | 87,847 | ||||
6,816 | * | Quidel Corp | 86,495 | ||||
5,920 | * | Revlon, Inc (Class A) | 66,067 | ||||
750 | * | Salix Pharmaceuticals Ltd | 29,273 | ||||
6,590 | * | Santarus, Inc | 16,343 | ||||
5,610 | * | Sciclone Pharmaceuticals, Inc | 14,923 | ||||
8,343 | * | Seattle Genetics, Inc | 100,033 | ||||
3,698 | * | Solutia, Inc | 48,444 | ||||
3,400 | * | Spectrum Pharmaceuticals, Inc | 13,328 | ||||
2,662 | Stepan Co | 182,160 | |||||
1,766 | * | Sucampo Pharmaceuticals, Inc (Class A) | 6,234 | ||||
6,340 | * | SuperGen, Inc | 12,807 | ||||
1,800 | * | Targacept, Inc | 34,794 | ||||
4,322 | * | Ulta Salon Cosmetics & Fragrance, Inc | 102,259 | ||||
1,020 | * | USANA Health Sciences, Inc | 37,261 | ||||
9,971 | * | Vanda Pharmaceuticals, Inc | 65,908 | ||||
7,185 | * | Viropharma, Inc | 80,544 | ||||
7,900 | * | WR Grace & Co | 166,215 | ||||
5,786 | * | Zymogenetics, Inc | 24,417 | ||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 3,493,627 | ||||||
COAL MINING - 0.3% | |||||||
9,781 | * | Cloud Peak Energy, Inc | 129,696 | ||||
832 | * | Westmoreland Coal Co | 6,756 | ||||
TOTAL COAL MINING | 136,452 | ||||||
COMMUNICATIONS - 1.7% | |||||||
4,111 | * | Anixter International, Inc | 175,129 | ||||
6,068 | * | Aruba Networks, Inc | 86,408 | ||||
1,417 | Atlantic Tele-Network, Inc | 58,522 | |||||
5,970 | * | Brightpoint, Inc | 41,790 | ||||
4,247 | * | Global Crossing Ltd | 44,891 | ||||
2,100 | * | IDT Corp (Class B) | 26,775 | ||||
3,450 | * | j2 Global Communications, Inc | 75,348 | ||||
3,353 | * | Mediacom Communications Corp (Class A) | 22,532 | ||||
9,090 | * | Neutral Tandem, Inc | 102,263 | ||||
1,000 | * | Novatel Wireless, Inc | 5,740 | ||||
10,132 | * | PAETEC Holding Corp | 34,550 | ||||
196 | * | TeleCommunication Systems, Inc (Class A) | 811 | ||||
5,461 | USA Mobility, Inc | 70,556 | |||||
11,000 | * | Vonage Holdings Corp | 25,300 | ||||
TOTAL COMMUNICATIONS | 770,615 | ||||||
DEPOSITORY INSTITUTIONS - 7.0% | |||||||
1,090 | 1st Source Corp | 18,443 | |||||
419 | Ameris Bancorp | 4,047 | |||||
782 | Bancfirst Corp | 28,535 | |||||
1,920 | Berkshire Hills Bancorp, Inc | 37,402 | |||||
13,291 | Boston Private Financial Holdings, Inc | 85,461 | |||||
3,024 | Brookline Bancorp, Inc | 26,853 | |||||
7,980 | Cathay General Bancorp | 82,433 | |||||
580 | Century Bancorp, Inc | 12,783 | |||||
1,000 | City Holding Co | 27,880 | |||||
2,042 | Community Bank System, Inc | 44,985 | |||||
4,544 | CVB Financial Corp | 43,168 | |||||
3,860 | Dime Community Bancshares | 47,594 | |||||
12,062 | East West Bancorp, Inc | 183,946 | |||||
238 | First Bancorp (NC) | 3,449 | |||||
1,110 | First Defiance Financial Corp | 9,923 | |||||
9,615 | First Financial Bancorp | 143,744 |
26
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
442 | First Financial Bankshares, Inc | $ | 21,256 | ||||
700 | First Financial Holdings, Inc | 8,015 | |||||
1,500 | First Interstate Bancsystem, Inc | 23,595 | |||||
1,570 | First Merchants Corp | 13,314 | |||||
330 | * | Flagstar Bancorp, Inc | 1,036 | ||||
14,160 | FNB Corp | 113,705 | |||||
978 | Hancock Holding Co | 32,626 | |||||
612 | Independent Bank Corp | 15,104 | |||||
3,830 | International Bancshares Corp | 63,923 | |||||
1,710 | Lakeland Bancorp, Inc | 14,569 | |||||
310 | Lakeland Financial Corp | 6,194 | |||||
2,123 | MainSource Financial Group, Inc | 15,222 | |||||
4,860 | MB Financial, Inc | 89,375 | |||||
280 | * | Nara Bancorp, Inc | 2,360 | ||||
5,843 | National Penn Bancshares, Inc | 35,116 | |||||
2,642 | NBT Bancorp, Inc | 53,950 | |||||
1,371 | * | Net 1 UEPS Technologies, Inc | 18,385 | ||||
10,978 | NewAlliance Bancshares, Inc | 123,063 | |||||
355 | Northwest Bancshares, Inc | 4,072 | |||||
1,200 | * | Pinnacle Financial Partners, Inc | 15,420 | ||||
2,600 | PrivateBancorp, Inc | 28,808 | |||||
4,612 | Prosperity Bancshares, Inc | 160,267 | |||||
13,102 | Provident Financial Services, Inc | 153,162 | |||||
672 | Provident New York Bancorp | 5,947 | |||||
1,900 | Qc Holdings, Inc | 6,992 | |||||
149 | Renasant Corp | 2,138 | |||||
1,021 | Republic Bancorp, Inc (Class A) | 22,870 | |||||
646 | S.Y. Bancorp, Inc | 14,845 | |||||
1,456 | Sandy Spring Bancorp, Inc | 20,399 | |||||
741 | SCBT Financial Corp | 26,098 | |||||
1,779 | * | Signature Bank | 67,620 | ||||
1,780 | Simmons First National Corp (Class A) | 46,743 | |||||
463 | Southside Bancshares, Inc | 9,093 | |||||
2,301 | Southwest Bancorp, Inc | 30,580 | |||||
3,116 | Sterling Bancorp | 28,044 | |||||
762 | Suffolk Bancorp | 23,576 | |||||
4,060 | * | Sun Bancorp, Inc | 15,266 | ||||
18,631 | Susquehanna Bancshares, Inc | 155,196 | |||||
3,524 | * | SVB Financial Group | 145,295 | ||||
1,730 | * | The Bancorp, Inc | 13,546 | ||||
574 | Tompkins Trustco, Inc | 21,669 | |||||
1,710 | Trico Bancshares | 28,950 | |||||
7,597 | Trustco Bank Corp NY | 42,543 | |||||
133 | Trustmark Corp | 2,769 | |||||
4,515 | UMB Financial Corp | 160,553 | |||||
2,881 | Umpqua Holdings Corp | 33,074 | |||||
610 | Union Bankshares Corp | 7,479 | |||||
13,906 | * | United Community Banks, Inc | 54,929 | ||||
2,392 | United Financial Bancorp, Inc | 32,651 | |||||
400 | Washington Trust Bancorp, Inc | 6,816 | |||||
1,000 | Webster Financial Corp | 17,940 | |||||
1,210 | WesBanco, Inc | 20,389 | |||||
1,300 | * | Western Alliance Bancorp | 9,321 | ||||
2,520 | Westfield Financial, Inc | 20,992 | |||||
3,645 | Wilshire Bancorp, Inc | 31,894 | |||||
2,835 | Wintrust Financial Corp | 94,519 | |||||
TOTAL DEPOSITORY INSTITUTIONS | 3,033,919 | ||||||
27
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
EATING AND DRINKING PLACES - 1.9% | |||||||
1,930 | * | AFC Enterprises | $ | 17,563 | |||
1,563 | Bob Evans Farms, Inc | 38,481 | |||||
900 | * | Buffalo Wild Wings, Inc | 32,922 | ||||
3,100 | * | California Pizza Kitchen, Inc | 46,965 | ||||
3,370 | CBRL Group, Inc | 156,907 | |||||
6,720 | * | Cheesecake Factory | 149,587 | ||||
9,235 | * | Denny’s Corp | 24,011 | ||||
13,540 | * | Domino’s Pizza, Inc | 153,002 | ||||
1,333 | * | O’Charleys, Inc | 7,065 | ||||
2,960 | * | Papa John’s International, Inc | 68,435 | ||||
4,057 | PF Chang’s China Bistro, Inc | 160,861 | |||||
TOTAL EATING AND DRINKING PLACES | 855,799 | ||||||
EDUCATIONAL SERVICES - 1.0% | |||||||
1,593 | * | American Public Education, Inc | 69,614 | ||||
8,260 | * | Bridgepoint Education, Inc | 130,591 | ||||
8,817 | * | Corinthian Colleges, Inc | 86,847 | ||||
400 | * | Lincoln Educational Services Corp | 8,236 | ||||
6,101 | * | Universal Technical Institute, Inc | 144,228 | ||||
TOTAL EDUCATIONAL SERVICES | 439,516 | ||||||
ELECTRIC, GAS, AND SANITARY SERVICES - 4.2% | |||||||
9,764 | Avista Corp | 190,691 | |||||
7,553 | Black Hills Corp | 215,034 | |||||
3,900 | Cleco Corp | 102,999 | |||||
12,500 | * | Dynegy, Inc (Class A) | 48,125 | ||||
2,139 | * | El Paso Electric Co | 41,390 | ||||
132 | Empire District Electric Co | 2,478 | |||||
900 | * | Heritage-Crystal Clean, Inc | 7,245 | ||||
6,200 | Idacorp, Inc | 206,274 | |||||
4,908 | Laclede Group, Inc | 162,602 | |||||
5,490 | Nicor, Inc | 222,345 | |||||
1,200 | Northwest Natural Gas Co | 52,284 | |||||
6,240 | Southwest Gas Corp | 184,080 | |||||
1,671 | UIL Holdings Corp | 41,825 | |||||
4,130 | Unisource Energy Corp | 124,643 | |||||
370 | *,m | Waste Services, Inc | 4,314 | ||||
7,234 | WGL Holdings, Inc | 246,173 | |||||
TOTAL ELECTRIC, GAS, AND SANITARY SERVICES | 1,852,502 | ||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 9.0% | |||||||
6,150 | * | Acme Packet, Inc | 165,312 | ||||
16,890 | * | ADC Telecommunications, Inc | 125,155 | ||||
1,300 | * | Advanced Energy Industries, Inc | 15,977 | ||||
2,900 | * | Amkor Technology, Inc | 15,979 | ||||
23,322 | * | Arris Group, Inc | 237,651 | ||||
2,230 | * | Atheros Communications, Inc | 61,414 | ||||
3,207 | AZZ, Inc | 117,921 | |||||
9,124 | * | Benchmark Electronics, Inc | 144,615 | ||||
604 | * | Checkpoint Systems, Inc | 10,485 | ||||
9,800 | * | Conexant Systems, Inc | 21,952 | ||||
4,627 | CTS Corp | 42,753 | |||||
4,507 | Cubic Corp | 163,965 | |||||
2,900 | DDi Corp | 21,837 | |||||
5,990 | * | Diodes, Inc | 95,061 | ||||
4,267 | * | EnerSys | 91,186 | ||||
1,149 | * | Exar Corp | 7,963 | ||||
5,935 | * | GrafTech International Ltd | 86,770 | ||||
3,120 | * | GSI Technology, Inc | 17,846 |
28
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
12,826 | * | GT Solar International, Inc | $ | 71,826 | |||
12,210 | * | Harris Stratex Networks, Inc (Class A) | 44,322 | ||||
4,100 | * | Hutchinson Technology, Inc | 17,753 | ||||
7,211 | * | InterDigital, Inc | 178,040 | ||||
1,620 | * | IXYS Corp | 14,321 | ||||
46,430 | * | Lattice Semiconductor Corp | 201,506 | ||||
963 | * | Loral Space & Communications, Inc | 41,139 | ||||
3,010 | * | MEMSIC, Inc | 6,803 | ||||
1,500 | * | Microsemi Corp | 21,945 | ||||
6,182 | * | Microtune, Inc | 13,168 | ||||
840 | * | MIPS Technologies, Inc | 4,292 | ||||
2,968 | * | Multi-Fineline Electronix, Inc | 74,081 | ||||
166 | National Presto Industries, Inc | 15,415 | |||||
590 | * | NVE Corp | 25,683 | ||||
4,646 | * | Omnivision Technologies, Inc | 99,610 | ||||
3,359 | * | Oplink Communications, Inc | 48,134 | ||||
2,259 | * | OSI Systems, Inc | 62,732 | ||||
2,320 | * | Pericom Semiconductor Corp | 22,272 | ||||
8,159 | Plantronics, Inc | 233,347 | |||||
5,302 | * | Plexus Corp | 141,775 | ||||
2,645 | * | Polycom, Inc | 78,795 | ||||
1,751 | * | Powell Industries, Inc | 47,872 | ||||
3,779 | * | Power-One, Inc | 25,508 | ||||
770 | Raven Industries, Inc | 25,957 | |||||
3,169 | Regal-Beloit Corp | 176,767 | |||||
43,634 | * | RF Micro Devices, Inc | 170,609 | ||||
2,200 | Richardson Electronics Ltd | 19,800 | |||||
2,500 | * | Sanmina-SCI Corp | 34,025 | ||||
5,253 | * | Symmetricom, Inc | 26,738 | ||||
3,634 | * | Synaptics, Inc | 99,935 | ||||
2,272 | * | Tekelec | 30,081 | ||||
5,418 | * | Tessera Technologies, Inc | 86,959 | ||||
7,215 | * | Triquint Semiconductor, Inc | 44,084 | ||||
4,433 | * | TTM Technologies, Inc | 42,114 | ||||
1,300 | * | Universal Electronics, Inc | 21,619 | ||||
4,632 | * | Volterra Semiconductor Corp | 106,814 | ||||
10,503 | * | Zoran Corp | 100,199 | ||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 3,919,882 | ||||||
ENGINEERING AND MANAGEMENT SERVICES - 2.0% | |||||||
1,437 | * | Affymax, Inc | 8,593 | ||||
10,052 | * | Ariad Pharmaceuticals, Inc | 28,347 | ||||
1,700 | * | Celera Corp | 11,135 | ||||
20,550 | * | Exelixis, Inc | 71,309 | ||||
1,098 | * | Exponent, Inc | 35,927 | ||||
200 | * | Furmanite Corp | 794 | ||||
8,000 | * | Incyte Corp | 88,560 | ||||
2,390 | * | Infinity Pharmaceuticals, Inc | 14,125 | ||||
7,904 | * | Insmed, Inc | 5,316 | ||||
1,627 | * | Isis Pharmaceuticals, Inc | 15,570 | ||||
490 | * | Luminex Corp | 7,948 | ||||
3,510 | MAXIMUS, Inc | 203,123 | |||||
1,930 | MedQuist, Inc | 15,266 | |||||
1,652 | * | Michael Baker Corp | 57,655 | ||||
1,980 | * | Regeneron Pharmaceuticals, Inc | 44,194 |
29
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
3,815 | * | Repligen Corp | $ | 12,246 | |||
5,300 | * | Senomyx, Inc | 20,087 | ||||
8,954 | * | Tetra Tech, Inc | 175,587 | ||||
1,582 | Towers Watson & Co | 61,461 | |||||
680 | VSE Corp | 21,638 | |||||
TOTAL ENGINEERING AND MANAGEMENT SERVICES | 898,881 | ||||||
FABRICATED METAL PRODUCTS - 0.9% | |||||||
841 | * | Chart Industries, Inc | 13,103 | ||||
693 | CIRCOR International, Inc | 17,727 | |||||
870 | * | Hawk Corp | 22,142 | ||||
900 | Insteel Industries, Inc | 10,458 | |||||
3,300 | Mueller Water Products, Inc (Class A) | 12,243 | |||||
6,435 | Quanex Building Products Corp | 111,261 | |||||
456 | Silgan Holdings, Inc | 12,941 | |||||
8,901 | Sturm Ruger & Co, Inc | 127,551 | |||||
3,180 | Watts Water Technologies, Inc (Class A) | 91,139 | |||||
TOTAL FABRICATED METAL PRODUCTS | 418,565 | ||||||
FOOD AND KINDRED PRODUCTS - 1.4% | |||||||
1,421 | * | Boston Beer Co, Inc (Class A) | 95,846 | ||||
4,208 | * | Central Garden and Pet Co (Class A) | 37,746 | ||||
432 | Coca-Cola Bottling Co Consolidated | 20,701 | |||||
424 | * | Darling International, Inc | 3,184 | ||||
1,764 | J&J Snack Foods Corp | 74,264 | |||||
2,280 | Lancaster Colony Corp | 121,662 | |||||
2,030 | * | Matrixx Initiatives, Inc | 9,338 | ||||
930 | National Beverage Corp | 11,420 | |||||
983 | * | Peet’s Coffee & Tea, Inc | 38,602 | ||||
3,970 | Sanderson Farms, Inc | 201,439 | |||||
TOTAL FOOD AND KINDRED PRODUCTS | 614,202 | ||||||
FOOD STORES - 0.5% | |||||||
2,500 | * | Dole Food Co, Inc | 26,075 | ||||
420 | Ingles Markets, Inc (Class A) | 6,321 | |||||
4,559 | * | Pantry, Inc | 64,327 | ||||
1,394 | Ruddick Corp | 43,200 | |||||
510 | Village Super Market (Class A) | 13,388 | |||||
2,518 | Weis Markets, Inc | 82,867 | |||||
TOTAL FOOD STORES | 236,178 | ||||||
FURNITURE AND FIXTURES - 0.2% | |||||||
9,887 | * | Furniture Brands International, Inc | 51,611 | ||||
1,733 | Kimball International, Inc (Class B) | 9,583 | |||||
1,700 | * | La-Z-Boy, Inc | 12,631 | ||||
3,700 | * | Select Comfort Corp | 32,375 | ||||
TOTAL FURNITURE AND FIXTURES | 106,200 | ||||||
FURNITURE AND HOME FURNISHINGS STORES - 0.0% | |||||||
900 | * | Tuesday Morning Corp | 3,591 | ||||
TOTAL FURNITURE AND HOME FURNISHINGS STORES | 3,591 | ||||||
GENERAL BUILDING CONTRACTORS - 0.4% | |||||||
700 | * | Brookfield Homes Corp | 4,718 | ||||
3,500 | * | M/I Homes, Inc | 33,740 |
30
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
780 | * | Perini Corp | $ | 12,854 | |||
3,591 | Ryland Group, Inc | 56,810 | |||||
19,435 | * | Standard-Pacific Corp | 64,719 | ||||
TOTAL GENERAL BUILDING CONTRACTORS | 172,841 | ||||||
GENERAL MERCHANDISE STORES - 0.4% | |||||||
1,144 | Casey’s General Stores, Inc | 39,926 | |||||
4,300 | Dillard’s, Inc (Class A) | 92,450 | |||||
4,662 | * | Stein Mart, Inc | 29,044 | ||||
TOTAL GENERAL MERCHANDISE STORES | 161,420 | ||||||
HEALTH SERVICES - 1.2% | |||||||
2,000 | * | Amedisys, Inc | 87,940 | ||||
980 | America Service Group, Inc | 16,856 | |||||
11,989 | * | Continucare Corp | 40,163 | ||||
900 | * | Genomic Health, Inc | 11,637 | ||||
600 | * | Genoptix, Inc | 10,320 | ||||
7,091 | * | Healthsouth Corp | 132,673 | ||||
2,160 | * | Kindred Healthcare, Inc | 27,734 | ||||
7,200 | * | Nektar Therapeutics | 87,120 | ||||
2,330 | * | Nighthawk Radiology Holdings, Inc | 6,035 | ||||
3,719 | * | Odyssey HealthCare, Inc | 99,372 | ||||
2,352 | * | Skilled Healthcare Group, Inc (Class A) | 15,970 | ||||
TOTAL HEALTH SERVICES | 535,820 | ||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.3% | |||||||
1,470 | * | LB Foster Co (Class A) | 38,102 | ||||
4,547 | * | Matrix Service Co | 42,333 | ||||
2,589 | * | Sterling Construction Co, Inc | 33,502 | ||||
TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING | 113,937 | ||||||
HOLDING AND OTHER INVESTMENT OFFICES - 6.8% | |||||||
4,232 | Agree Realty Corp | 98,690 | |||||
140 | Alexander’s, Inc | 42,409 | |||||
2,000 | American Capital Agency Corp | 52,840 | |||||
2,550 | BioMed Realty Trust, Inc | 41,030 | |||||
1,847 | Capital Lease Funding, Inc | 8,515 | |||||
7,742 | CBL & Associates Properties, Inc | 96,310 | |||||
2,030 | Danvers Bancorp, Inc | 29,334 | |||||
4,359 | Developers Diversified Realty Corp | 43,154 | |||||
12,310 | DiamondRock Hospitality Co | 101,188 | |||||
1,080 | EastGroup Properties, Inc | 38,426 | |||||
4,290 | Equity Lifestyle Properties, Inc | 206,906 | |||||
7,750 | * | FelCor Lodging Trust, Inc | 38,673 | ||||
8,834 | * | First Industrial Realty Trust, Inc | 42,580 | ||||
4,047 | Getty Realty Corp | 90,693 | |||||
1,240 | Gladstone Commercial Corp | 20,262 | |||||
12,715 | Glimcher Realty Trust | 76,036 | |||||
3,320 | Hersha Hospitality Trust | 15,006 | |||||
8,158 | Highwoods Properties, Inc | 226,465 | |||||
177 | Investors Real Estate Trust | 1,563 | |||||
1,022 | Kilroy Realty Corp | 30,384 | |||||
6,070 | LaSalle Hotel Properties | 124,860 | |||||
1,876 | Lexington Corporate Properties Trust | 11,275 | |||||
4,237 | LTC Properties, Inc | 102,832 | |||||
3,290 | Mid-America Apartment Communities, Inc | 169,336 | |||||
2,934 | Mission West Properties, Inc | 20,010 | |||||
4,196 | National Health Investors, Inc | 161,798 | |||||
10,207 | Omega Healthcare Investors, Inc | 203,426 | |||||
4,064 | Parkway Properties, Inc | 59,212 |
31
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
11,410 | Pennsylvania Real Estate Investment Trust | $ | 139,430 | ||||
313 | Potlatch Corp | 11,183 | |||||
3,002 | PS Business Parks, Inc | 167,452 | |||||
4,616 | Redwood Trust, Inc | 67,578 | |||||
2,085 | Resource Capital Corp | 11,843 | |||||
1,487 | Saul Centers, Inc | 60,417 | |||||
600 | Sovran Self Storage, Inc | 20,658 | |||||
1,900 | Sun Communities, Inc | 49,324 | |||||
2,370 | Tanger Factory Outlet Centers, Inc | 98,071 | |||||
3,730 | Urstadt Biddle Properties, Inc (Class A) | 60,165 | |||||
8,700 | U-Store-It Trust | 64,902 | |||||
3,630 | Washington Real Estate Investment Trust | 100,152 | |||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 3,004,388 | ||||||
HOTELS AND OTHER LODGING PLACES - 0.1% | |||||||
6,925 | * | Orient-Express Hotels Ltd (Class A) | 51,245 | ||||
TOTAL HOTELS AND OTHER LODGING PLACES | 51,245 | ||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 3.9% | |||||||
498 | Aaon, Inc | 11,608 | |||||
480 | Alamo Group, Inc | 10,416 | |||||
1,942 | * | Altra Holdings, Inc | 25,285 | ||||
2,043 | Ampco-Pittsburgh Corp | 42,556 | |||||
3,590 | * | Blount International, Inc | 36,869 | ||||
610 | * | Bolt Technology Corp | 5,338 | ||||
1,012 | Briggs & Stratton Corp | 17,224 | |||||
5,560 | * | Brooks Automation, Inc | 42,979 | ||||
5,100 | * | Cirrus Logic, Inc | 80,631 | ||||
4,084 | * | Colfax Corp | 42,514 | ||||
2,448 | * | Columbus McKinnon Corp | 34,199 | ||||
7,031 | * | Cray, Inc | 39,233 | ||||
3,208 | * | ENGlobal Corp | 6,608 | ||||
5,711 | * | EnPro Industries, Inc | 160,765 | ||||
8,722 | * | Entegris, Inc | 34,626 | ||||
12,073 | * | Extreme Networks, Inc | 32,597 | ||||
2,100 | * | Fortinet, Inc | 34,524 | ||||
800 | Graham Corp | 11,992 | |||||
4,200 | * | Isilon Systems, Inc | 53,928 | ||||
3,890 | Lindsay Manufacturing Co | 123,274 | |||||
1,917 | Nacco Industries, Inc (Class A) | 170,153 | |||||
5,852 | * | Netgear, Inc | 104,400 | ||||
722 | Nordson Corp | 40,490 | |||||
5,860 | *,m | Palm, Inc | 33,343 | ||||
17,404 | * | Quantum Corp | 32,720 | ||||
5,710 | * | Riverbed Technology, Inc | 157,710 | ||||
2,164 | Standex International Corp | 54,857 | |||||
3,100 | * | STEC, Inc | 38,936 | ||||
1,170 | * | Super Micro Computer, Inc | 15,795 | ||||
2,225 | Tennant Co | 75,250 | |||||
9,030 | * | VeriFone Holdings, Inc | 170,938 | ||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 1,741,758 | ||||||
INSTRUMENTS AND RELATED PRODUCTS - 5.6% | |||||||
13,980 | * | Affymetrix, Inc | 82,482 | ||||
9,500 | * | Align Technology, Inc | 141,265 | ||||
7,110 | * | American Medical Systems Holdings, Inc | 157,273 | ||||
1,353 | American Science & Engineering, Inc | 103,112 | |||||
13,201 | * | Bruker BioSciences Corp | 160,524 | ||||
5,634 | * | Caliper Life Sciences, Inc | 24,057 |
32
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
6,139 | Cantel Medical Corp | $ | 102,521 | ||||
1,300 | * | Cepheid, Inc | 20,826 | ||||
84 | * | Conmed Corp | 1,565 | ||||
3,697 | * | Cyberonics, Inc | 87,545 | ||||
429 | * | Cynosure, Inc (Class A) | 4,620 | ||||
3,744 | * | Depomed, Inc | 10,483 | ||||
2,000 | * | DXP Enterprises, Inc | 31,300 | ||||
25,970 | * | Eastman Kodak Co | 112,710 | ||||
200 | * | Esterline Technologies Corp | 9,490 | ||||
5,284 | * | Fossil, Inc | 183,355 | ||||
3,390 | * | Haemonetics Corp | 181,433 | ||||
5,576 | * | Hanger Orthopedic Group, Inc | 100,145 | ||||
1,694 | * | ICU Medical, Inc | 54,496 | ||||
3,379 | Invacare Corp | 70,080 | |||||
600 | * | IRIS International, Inc | 6,084 | ||||
3,580 | * | ISTA Pharmaceuticals, Inc | 7,840 | ||||
2,368 | * | Kensey Nash Corp | 56,145 | ||||
5,608 | * | Kopin Corp | 19,011 | ||||
750 | * | LaBarge, Inc | 8,558 | ||||
916 | Masimo Corp | 21,810 | |||||
1,525 | Mine Safety Appliances Co | 37,790 | |||||
2,133 | MTS Systems Corp | 61,857 | |||||
1,409 | * | Orthofix International NV | 45,158 | ||||
10,000 | * | RAE Systems, Inc | 8,000 | ||||
3,463 | * | Sirona Dental Systems, Inc | 120,651 | ||||
5,520 | STERIS Corp | 171,562 | |||||
1,343 | * | Synovis Life Technologies, Inc | 20,521 | ||||
600 | * | Thoratec Corp | 25,638 | ||||
5,374 | * | Veeco Instruments, Inc | 184,221 | ||||
3,000 | * | Wright Medical Group, Inc | 49,830 | ||||
190 | * | Zygo Corp | 1,541 | ||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 2,485,499 | ||||||
INSURANCE AGENTS, BROKERS AND SERVICE - 0.1% | |||||||
6,040 | * | Crawford & Co (Class B) | 19,086 | ||||
3,600 | * | National Financial Partners Corp | 35,172 | ||||
TOTAL INSURANCE AGENTS, BROKERS AND SERVICE | 54,258 | ||||||
INSURANCE CARRIERS - 4.4% | |||||||
7,186 | American Equity Investment Life Holding Co | 74,160 | |||||
500 | * | American Safety Insurance Holdings Ltd | 7,860 | ||||
4,627 | Argo Group International Holdings Ltd | 141,540 | |||||
2,374 | Assured Guaranty Ltd | 31,503 | |||||
2,642 | * | Catalyst Health Solutions, Inc | 91,149 | ||||
5,691 | * | Centene Corp | 122,357 | ||||
3,697 | * | CNA Surety Corp | 59,411 | ||||
8,478 | * | Conseco, Inc | 41,966 | ||||
1,000 | Employers Holdings, Inc | 14,730 | |||||
4,026 | FBL Financial Group, Inc (Class A) | 84,546 | |||||
7,616 | Flagstone Reinsurance Holdings Ltd | 82,405 | |||||
778 | * | Greenlight Capital Re Ltd (Class A) | 19,598 | ||||
2,960 | * | Hallmark Financial Services | 29,452 | ||||
10,810 | Horace Mann Educators Corp | 165,392 | |||||
4,516 | Maiden Holdings Ltd | 29,670 | |||||
7,014 | Max Capital Group Ltd | 131,723 | |||||
8,925 | Meadowbrook Insurance Group, Inc | 77,023 | |||||
5,660 | * | Metropolitan Health Networks, Inc | 21,112 | ||||
2,396 | * | MGIC Investment Corp | 16,508 | ||||
4,860 | * | Molina Healthcare, Inc | 139,968 | ||||
13,200 | Montpelier Re Holdings Ltd | 197,075 |
33
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
200 | National Interstate Corp | $ | 3,964 | ||||
8,500 | * | Phoenix Cos, Inc | 17,935 | ||||
1,361 | Platinum Underwriters Holdings Ltd | 49,391 | |||||
2,788 | * | PMA Capital Corp (Class A) | 18,261 | ||||
4,116 | Selective Insurance Group, Inc | 61,164 | |||||
365 | State Auto Financial Corp | 5,661 | |||||
720 | Tower Group, Inc | 15,502 | |||||
4,291 | * | Triple-S Management Corp (Class B) | 79,598 | ||||
5,557 | * | Universal American Financial Corp | 80,021 | ||||
690 | * | WellCare Health Plans, Inc | 16,381 | ||||
TOTAL INSURANCE CARRIERS | 1,927,026 | ||||||
LEATHER AND LEATHER PRODUCTS - 0.5% | |||||||
2,897 | * | Steven Madden Ltd | 91,313 | ||||
2,320 | * | Timberland Co (Class A) | 37,468 | ||||
2,872 | Wolverine World Wide, Inc | 72,432 | |||||
TOTAL LEATHER AND LEATHER PRODUCTS | 201,213 | ||||||
LEGAL SERVICES - 0.2% | |||||||
1,604 | * | Pre-Paid Legal Services, Inc | 72,966 | ||||
TOTAL LEGAL SERVICES | 72,966 | ||||||
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.3% | |||||||
2,635 | * | Emergency Medical Services Corp (Class A) | 129,194 | ||||
TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT | 129,194 | ||||||
METAL MINING - 1.0% | |||||||
1,199 | * | Coeur d’Alene Mines Corp | 18,920 | ||||
26,800 | * | Golden Star Resources Ltd | 117,384 | ||||
17,153 | * | Hecla Mining Co | 89,539 | ||||
5,360 | * | Patriot Coal Corp | 62,980 | ||||
509 | * | Rosetta Resources, Inc | 10,083 | ||||
9,900 | * | Stillwater Mining Co | 115,038 | ||||
5,368 | * | Thompson Creek Metals Co, Inc | 46,594 | ||||
TOTAL METAL MINING | 460,538 | ||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.3% | |||||||
2,372 | Blyth, Inc | 80,814 | |||||
4,308 | * | Jakks Pacific, Inc | 61,949 | ||||
600 | * | RC2 Corp | 9,666 | ||||
TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES | 152,429 | ||||||
MISCELLANEOUS RETAIL - 2.4% | |||||||
6,645 | * | 1-800-FLOWERS.COM, Inc (Class A) | 13,689 | ||||
1,620 | Books-A-Million, Inc | 9,752 | |||||
2,783 | Cash America International, Inc | 95,373 | |||||
7,229 | * | Ezcorp, Inc (Class A) | 134,098 | ||||
1,479 | * | HSN, Inc | 35,496 | ||||
4,808 | * | Jo-Ann Stores, Inc | 180,348 | ||||
5,702 | * | Kirkland’s, Inc | 96,221 | ||||
7,887 | * | OfficeMax, Inc | 103,004 | ||||
2,815 | * | Overstock.com, Inc | 50,867 | ||||
1,810 | * | PC Connection, Inc | 10,969 | ||||
4,580 | * | Shutterfly, Inc | 109,737 | ||||
8,617 | World Fuel Services Corp | 223,525 | |||||
6,900 | * | Zale Corp | 10,902 | ||||
TOTAL MISCELLANEOUS RETAIL | 1,073,981 | ||||||
34
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
MOTION PICTURES - 0.1% | |||||||
200 | * | Ascent Media Corp (Series A) | $ | 5,052 | |||
1,550 | * | Carmike Cinemas, Inc | 9,393 | ||||
1,930 | Cinemark Holdings, Inc | 25,380 | |||||
1,037 | National CineMedia, Inc | 17,276 | |||||
TOTAL MOTION PICTURES | 57,101 | ||||||
NONDEPOSITORY INSTITUTIONS - 1.5% | |||||||
8,195 | Advance America Cash Advance Centers, Inc | 33,845 | |||||
3,700 | * | American Capital Ltd | 17,834 | ||||
3,942 | Apollo Investment Corp | 36,779 | |||||
6,547 | Ares Capital Corp | 82,034 | |||||
11,956 | * | Boise, Inc | 65,638 | ||||
2,047 | * | Doral Financial Corp | 4,995 | ||||
200 | *,b | DVI, Inc | 0 | ||||
900 | Hercules Technology Growth Capital, Inc | 8,289 | |||||
6,800 | MCG Capital Corp | 32,844 | |||||
500 | * | Mercadolibre, Inc | 26,275 | ||||
509 | NGP Capital Resources Co | 3,650 | |||||
13,065 | * | PHH Corp | 248,758 | ||||
2,890 | * | World Acceptance Corp | 110,716 | ||||
TOTAL NONDEPOSITORY INSTITUTIONS | 671,657 | ||||||
OIL AND GAS EXTRACTION - 3.4% | |||||||
1,400 | * | Approach Resources, Inc | 9,632 | ||||
2,856 | * | Basic Energy Services, Inc | 21,991 | ||||
4,397 | * | Bill Barrett Corp | 135,297 | ||||
13,251 | * | Cal Dive International, Inc | 77,518 | ||||
9,994 | * | Complete Production Services, Inc | 142,915 | ||||
1,778 | * | Contango Oil & Gas Co | 79,566 | ||||
2,363 | * | Dawson Geophysical Co | 50,261 | ||||
475 | * | Geokinetics, Inc | 1,819 | ||||
3,800 | * | Goodrich Petroleum Corp | 45,600 | ||||
6,290 | * | Gulfport Energy Corp | 74,599 | ||||
23,600 | * | Hercules Offshore, Inc | 57,348 | ||||
1,155 | * | Key Energy Services, Inc | 10,603 | ||||
19,647 | * | McMoRan Exploration Co | 218,279 | ||||
738 | Penn Virginia Corp | 14,841 | |||||
2,800 | * | Petroleum Development Corp | 71,736 | ||||
10,382 | * | Petroquest Energy, Inc | 70,182 | ||||
10,657 | * | Pioneer Drilling Co | 60,425 | ||||
1,800 | * | Seahawk Drilling, Inc | 17,496 | ||||
8,177 | * | Stone Energy Corp | 91,255 | ||||
1,400 | * | Swift Energy Co | 37,674 | ||||
4,610 | * | Tetra Technologies, Inc | 41,859 | ||||
2,440 | * | TGC Industries, Inc | 7,393 | ||||
1,340 | * | Union Drilling, Inc | 7,383 | ||||
13,824 | Vaalco Energy, Inc | 77,414 | |||||
1,520 | * | Venoco, Inc | 25,034 | ||||
7,747 | W&T Offshore, Inc | 73,287 | |||||
TOTAL OIL AND GAS EXTRACTION | 1,521,407 | ||||||
PAPER AND ALLIED PRODUCTS - 1.0% | |||||||
1,650 | Domtar Corporation | 81,098 | |||||
9,886 | Glatfelter | 107,263 |
35
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
5,100 | * | Kapstone Paper and Packaging Corp | $ | 56,814 | |||
2,997 | Rock-Tenn Co (Class A) | 148,861 | |||||
4,400 | * | Wausau Paper Corp | 29,788 | ||||
TOTAL PAPER AND ALLIED PRODUCTS | 423,824 | ||||||
PERSONAL SERVICES - 0.4% | |||||||
1,600 | Regis Corp | 24,912 | |||||
1,400 | * | Steiner Leisure Ltd | 53,816 | ||||
1,768 | Unifirst Corp | 77,827 | |||||
TOTAL PERSONAL SERVICES | 156,555 | ||||||
PETROLEUM AND COAL PRODUCTS - 0.2% | |||||||
1,900 | Alon USA Energy, Inc | 12,084 | |||||
12,568 | * | Gran Tierra Energy, Inc | 62,337 | ||||
TOTAL PETROLEUM AND COAL PRODUCTS | 74,421 | ||||||
PRIMARY METAL INDUSTRIES - 0.6% | |||||||
5,795 | Belden CDT, Inc | 127,491 | |||||
1,000 | * | Brush Engineered Materials, Inc | 19,980 | ||||
163 | * | Horsehead Holding Corp | 1,232 | ||||
2,072 | Mueller Industries, Inc | 50,971 | |||||
5,290 | Worthington Industries, Inc | 68,029 | |||||
TOTAL PRIMARY METAL INDUSTRIES | 267,703 | ||||||
PRINTING AND PUBLISHING - 0.9% | |||||||
2,800 | * | AH Belo Corp (Class A) | 18,592 | ||||
2,100 | * | Consolidated Graphics, Inc | 90,804 | ||||
4,340 | * | EW Scripps Co (Class A) | 32,246 | ||||
13,653 | * | Journal Communications, Inc (Class A) | 54,202 | ||||
3,898 | Scholastic Corp | 94,020 | |||||
4,000 | * | Valassis Communications, Inc | 126,880 | ||||
TOTAL PRINTING AND PUBLISHING | 416,744 | ||||||
REAL ESTATE - 0.0% | |||||||
100 | Government Properties Income Trust | 2,552 | |||||
TOTAL REAL ESTATE | 2,552 | ||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 1.3% | |||||||
5,040 | A. Schulman, Inc | 95,558 | |||||
8,180 | Cooper Tire & Rubber Co | 159,510 | |||||
1,200 | * | Deckers Outdoor Corp | 171,444 | ||||
730 | * | Skechers U.S.A., Inc (Class A) | 26,660 | ||||
6,000 | Titan International, Inc | 59,820 | |||||
1,380 | Tupperware Corp | 54,993 | |||||
TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 567,985 | ||||||
SECURITY AND COMMODITY BROKERS - 1.1% | |||||||
24,993 | * | Broadpoint Securities Group, Inc | 63,732 | ||||
2,124 | Calamos Asset Management, Inc (Class A) | 19,711 | |||||
2,060 | Duff & Phelps Corp | 26,018 | |||||
10,039 | * | E*Trade Financial Corp | 118,660 | ||||
2,910 | Evercore Partners, Inc (Class A) | 67,948 | |||||
1,100 | GAMCO Investors, Inc (Class A) | 40,920 | |||||
3,183 | * | Knight Capital Group, Inc (Class A) | 43,894 | ||||
379 | Oppenheimer Holdings, Inc | 9,077 |
36
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
1,250 | * | Piper Jaffray Cos | $ | 40,275 | |||
640 | * | Stifel Financial Corp | 27,770 | ||||
4,444 | SWS Group, Inc | 42,218 | |||||
TOTAL SECURITY AND COMMODITY BROKERS | 500,223 | ||||||
SPECIAL TRADE CONTRACTORS - 1.2% | |||||||
5,012 | * | AsiaInfo Holdings, Inc | 109,562 | ||||
600 | Chemed Corp | 32,784 | |||||
7,817 | Comfort Systems USA, Inc | 75,512 | |||||
6,432 | * | Dycom Industries, Inc | 54,994 | ||||
10,360 | * | EMCOR Group, Inc | 240,041 | ||||
TOTAL SPECIAL TRADE CONTRACTORS | 512,893 | ||||||
STONE, CLAY, AND GLASS PRODUCTS - 0.3% | |||||||
4,720 | Apogee Enterprises, Inc | 51,118 | |||||
2,450 | * | Cabot Microelectronics Corp | 84,745 | ||||
TOTAL STONE, CLAY, AND GLASS PRODUCTS | 135,863 | ||||||
TEXTILE MILL PRODUCTS - 0.2% | |||||||
1,600 | * | Culp, Inc | 17,536 | ||||
3,934 | Oxford Industries, Inc | 82,339 | |||||
TOTAL TEXTILE MILL PRODUCTS | 99,875 | ||||||
TRANSPORTATION BY AIR - 2.0% | |||||||
7,920 | * | Airtran Holdings, Inc | 38,412 | ||||
2,786 | * | Alaska Air Group, Inc | 125,231 | ||||
2,329 | Allegiant Travel Co | 99,425 | |||||
3,820 | * | Atlas Air Worldwide Holdings, Inc | 181,450 | ||||
14,673 | * | Hawaiian Holdings, Inc | 75,859 | ||||
23,920 | * | JetBlue Airways Corp | 131,321 | ||||
3,400 | * | Pinnacle Airlines | 18,496 | ||||
9,380 | * | UAL Corp | 192,853 | ||||
TOTAL TRANSPORTATION BY AIR | 863,047 | ||||||
TRANSPORTATION EQUIPMENT - 2.9% | |||||||
4,320 | A.O. Smith Corp | 208,180 | |||||
7,400 | * | American Axle & Manufacturing Holdings, Inc | 54,242 | ||||
1,180 | American Railcar Industries, Inc | 14,254 | |||||
2,100 | * | Arctic Cat, Inc | 19,131 | ||||
6,476 | * | ArvinMeritor, Inc | 84,836 | ||||
1,614 | * | ATC Technology Corp | 26,018 | ||||
2,333 | Brunswick Corp | 28,999 | |||||
7,005 | * | Dana Holding Corp | 70,050 | ||||
19,861 | * | Force Protection, Inc | 81,430 | ||||
1,000 | * | Fuel Systems Solutions, Inc | 25,950 | ||||
22,367 | * | GenCorp, Inc | 97,967 | ||||
2,656 | Kaman Corp | 58,751 | |||||
1,000 | * | Lear Corp | 66,200 | ||||
850 | * | LMI Aerospace, Inc | 13,405 | ||||
11,854 | * | Orbital Sciences Corp | 186,938 | ||||
890 | Polaris Industries, Inc | 48,612 | |||||
5,201 | Standard Motor Products, Inc | 41,972 | |||||
1,730 | * | Tenneco, Inc | 36,434 | ||||
1,832 | Triumph Group, Inc | 122,066 | |||||
TOTAL TRANSPORTATION EQUIPMENT | 1,285,435 | ||||||
37
TIAA-CREF LIFE FUNDS - Small-Cap Equity Fund
SHARES | COMPANY | VALUE | |||||
TRANSPORTATION SERVICES - 0.4% | |||||||
1,001 | * | Dynamex, Inc | $ | 12,212 | |||
4,948 | * | Hub Group, Inc (Class A) | 148,490 | ||||
TOTAL TRANSPORTATION SERVICES | 160,702 | ||||||
TRUCKING AND WAREHOUSING - 0.7% | |||||||
3,600 | Arkansas Best Corp | 74,700 | |||||
2,448 | * | Marten Transport Ltd | 50,869 | ||||
1,100 | * | PAM Transportation Services, Inc | 16,533 | ||||
1,010 | * | USA Truck, Inc | 16,281 | ||||
7,310 | Werner Enterprises, Inc | 160,017 | |||||
TOTAL TRUCKING AND WAREHOUSING | 318,400 | ||||||
WATER TRANSPORTATION - 0.3% | |||||||
1,060 | * | American Commercial Lines, Inc | 23,861 | ||||
4,100 | * | Excel Maritime Carriers Ltd | 20,992 | ||||
5,860 | * | Genco Shipping & Trading Ltd | 87,841 | ||||
508 | International Shipholding Corp | 11,242 | |||||
600 | * | Ultrapetrol Bahamas Ltd | 2,610 | ||||
TOTAL WATER TRANSPORTATION | 146,546 | ||||||
WHOLESALE TRADE-DURABLE GOODS - 1.5% | |||||||
5,877 | Agilysys, Inc | 39,317 | |||||
3,720 | Applied Industrial Technologies, Inc | 94,190 | |||||
28 | * | Beacon Roofing Supply, Inc | 505 | ||||
171 | * | Chindex International, Inc | 2,143 | ||||
3,254 | * | Insight Enterprises, Inc | 42,823 | ||||
1,314 | * | MWI Veterinary Supply, Inc | 66,042 | ||||
8,107 | Owens & Minor, Inc | 230,076 | |||||
8,251 | * | PSS World Medical, Inc | 174,508 | ||||
TOTAL WHOLESALE TRADE-DURABLE GOODS | 649,604 | ||||||
WHOLESALE TRADE-NONDURABLE GOODS - 1.6% | |||||||
4,326 | Andersons, Inc | 140,984 | |||||
3,470 | * | BioScrip, Inc | 18,183 | ||||
2,263 | * | Clearwater Paper Corp | 123,922 | ||||
1,406 | * | Core-Mark Holding Co, Inc | 38,524 | ||||
1,915 | * | Kenneth Cole Productions, Inc (Class A) | 21,084 | ||||
1,000 | Nash Finch Co | 34,160 | |||||
4,374 | Nu Skin Enterprises, Inc (Class A) | 109,044 | |||||
28 | Spartan Stores, Inc | 384 | |||||
430 | Tractor Supply Co | 26,217 | |||||
3,278 | * | United Stationers, Inc | 178,553 | ||||
TOTAL WHOLESALE TRADE-NONDURABLE GOODS | 691,055 | ||||||
TOTAL COMMON STOCKS (Cost $45,586,862) | 44,092,899 | ||||||
TOTAL INVESTMENTS - 99.9% (Cost $45,586,862) | 44,092,899 | ||||||
OTHER ASSETS & LIABILITIES, NET - 0.1% | 24,028 | ||||||
NET ASSETS - 100.0% | $ | 44,116,927 | |||||
* | Non-income producing. |
b | In bankruptcy. |
m | Indicates a security that has been deemed illiquid. |
38
TIAA-CREF LIFE FUNDS - Stock Index Fund
TIAA-CREF LIFE FUNDS
STOCK INDEX FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 99.9% | |||||||
AGRICULTURAL PRODUCTION-CROPS - 0.0% | |||||||
536 | * | Chiquita Brands International, Inc | $ | 6,512 | |||
38 | Griffin Land & Nurseries, Inc (Class A) | 965 | |||||
101 | Limoneira Co | 2,198 | |||||
TOTAL AGRICULTURAL PRODUCTION-CROPS | 9,675 | ||||||
AGRICULTURAL PRODUCTION-LIVESTOCK - 0.0% | |||||||
200 | Cal-Maine Foods, Inc | 6,386 | |||||
586 | * | Pilgrim’s Pride Corp | 3,850 | ||||
4 | Seaboard Corp | 6,040 | |||||
TOTAL AGRICULTURAL PRODUCTION-LIVESTOCK | 16,276 | ||||||
AGRICULTURAL SERVICES - 0.0% | |||||||
130 | * | Cadiz, Inc | 1,569 | ||||
125 | Calavo Growers, Inc | 2,245 | |||||
1,033 | * | VCA Antech, Inc | 25,577 | ||||
TOTAL AGRICULTURAL SERVICES | 29,391 | ||||||
AMUSEMENT AND RECREATION SERVICES - 0.7% | |||||||
656 | * | Bally Technologies, Inc | 21,248 | ||||
155 | Churchill Downs, Inc | 5,084 | |||||
4,017 | * | Electronic Arts, Inc | 57,844 | ||||
338 | International Speedway Corp (Class A) | 8,707 | |||||
484 | * | Life Time Fitness, Inc | 15,386 | ||||
1,699 | * | Live Nation, Inc | 17,755 | ||||
715 | * | Madison Square Garden, Inc | 14,064 | ||||
322 | * | Multimedia Games, Inc | 1,449 | ||||
807 | * | Penn National Gaming, Inc | 18,642 | ||||
793 | * | Pinnacle Entertainment, Inc | 7,502 | ||||
164 | Speedway Motorsports, Inc | 2,224 | |||||
23,585 | Walt Disney Co | 742,927 | |||||
675 | * | Warner Music Group Corp | 3,281 | ||||
698 | * | WMS Industries, Inc | 27,396 | ||||
251 | World Wrestling Entertainment, Inc (Class A) | 3,906 | |||||
TOTAL AMUSEMENT AND RECREATION SERVICES | 947,415 | ||||||
APPAREL AND ACCESSORY STORES - 0.8% | |||||||
1,092 | Abercrombie & Fitch Co (Class A) | 33,513 | |||||
1,127 | * | Aeropostale, Inc | 32,277 | ||||
1,343 | * | American Apparel, Inc | 2,458 | ||||
2,498 | American Eagle Outfitters, Inc | 29,352 | |||||
671 | * | AnnTaylor Stores Corp | 10,917 | ||||
380 | Bebe Stores, Inc | 2,432 | |||||
482 | Brown Shoe Co, Inc | 7,317 | |||||
310 | Buckle, Inc | 10,050 | |||||
695 | * | Carter’s, Inc | 18,244 | ||||
514 | * | Casual Male Retail Group, Inc | 1,758 | ||||
325 | Cato Corp (Class A) | 7,157 | |||||
1,400 | * | Charming Shoppes, Inc | 5,250 | ||||
2,122 | Chico’s FAS, Inc | 20,965 | |||||
335 | * | Children’s Place Retail Stores, Inc | 14,747 | ||||
390 | Christopher & Banks Corp | 2,414 | |||||
243 | * | Citi Trends, Inc | 8,004 | ||||
733 | * | Collective Brands, Inc | 11,581 | ||||
59 | * | Destination Maternity Corp | 1,493 | ||||
719 | * | Dress Barn, Inc | 17,119 | ||||
200 | * | DSW, Inc (Class A) | 4,492 | ||||
189 | * | Express Parent LLC | 3,094 |
39
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
681 | Finish Line, Inc (Class A) | $ | 9,486 | ||||
1,799 | Foot Locker, Inc | 22,703 | |||||
5,533 | Gap, Inc | 107,672 | |||||
450 | Hot Topic, Inc | 2,286 | |||||
665 | * | J Crew Group, Inc | 24,479 | ||||
233 | * | JOS A Bank Clothiers, Inc | 12,580 | ||||
3,696 | * | Kohl’s Corp | 175,561 | ||||
3,240 | Limited Brands, Inc | 71,507 | |||||
512 | * | New York & Co, Inc | 1,172 | ||||
1,992 | Nordstrom, Inc | 64,122 | |||||
886 | * | Pacific Sunwear Of California, Inc | 2,835 | ||||
1,475 | Ross Stores, Inc | 78,603 | |||||
180 | * | Rue21, Inc | 5,461 | ||||
66 | * | Shoe Carnival, Inc | 1,354 | ||||
411 | Stage Stores, Inc | 4,389 | |||||
846 | * | Talbots, Inc | 8,722 | ||||
4,913 | TJX Companies, Inc | 206,101 | |||||
399 | * | Under Armour, Inc (Class A) | 13,219 | ||||
1,468 | * | Urban Outfitters, Inc | 50,485 | ||||
1,045 | * | Wet Seal, Inc (Class A) | 3,814 | ||||
TOTAL APPAREL AND ACCESSORY STORES | 1,111,185 | ||||||
APPAREL AND OTHER TEXTILE PRODUCTS - 0.4% | |||||||
137 | Columbia Sportswear Co | 6,394 | |||||
205 | * | G-III Apparel Group Ltd | 4,692 | ||||
756 | Guess ?, Inc | 23,617 | |||||
353 | * | Gymboree Corp | 15,077 | ||||
1,141 | * | Hanesbrands, Inc | 27,452 | ||||
488 | * | Joe’s Jeans, Inc | 966 | ||||
1,084 | Jones Apparel Group, Inc | 17,181 | |||||
1,307 | * | Liz Claiborne, Inc | 5,516 | ||||
300 | * | Maidenform Brands, Inc | 6,108 | ||||
4,334 | Nike, Inc (Class B) | 292,763 | |||||
680 | Phillips-Van Heusen Corp | 31,464 | |||||
663 | Polo Ralph Lauren Corp (Class A) | 48,372 | |||||
1,598 | * | Quiksilver, Inc | 5,913 | ||||
304 | * | True Religion Apparel, Inc | 6,709 | ||||
1,068 | VF Corp | 76,020 | |||||
515 | * | Warnaco Group, Inc | 18,612 | ||||
TOTAL APPAREL AND OTHER TEXTILE PRODUCTS | 586,856 | ||||||
AUTO REPAIR, SERVICES AND PARKING - 0.1% | |||||||
100 | * | Amerco, Inc | 5,505 | ||||
347 | * | Dollar Thrifty Automotive Group, Inc | 14,786 | ||||
2,251 | * | Hertz Global Holdings, Inc | 21,294 | ||||
251 | * | Midas, Inc | 1,925 | ||||
241 | Monro Muffler, Inc | 9,527 | |||||
655 | Ryder System, Inc | 26,350 | |||||
189 | * | Standard Parking Corp | 2,992 | ||||
465 | * | Wright Express Corp | 13,811 | ||||
TOTAL AUTO REPAIR, SERVICES AND PARKING | 96,190 | ||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.2% | |||||||
1,059 | Advance Auto Parts | 53,141 | |||||
122 | * | America’s Car-Mart, Inc | 2,761 | ||||
359 | * | Asbury Automotive Group, Inc | 3,784 | ||||
877 | * | Autonation, Inc | 17,102 | ||||
335 | * | Autozone, Inc | 64,729 | ||||
2,687 | * | Carmax, Inc | 53,471 | ||||
898 | * | Copart, Inc | 32,157 | ||||
205 | Lithia Motors, Inc (Class A) | 1,267 | |||||
257 | * | MarineMax, Inc | 1,784 | ||||
1,637 | * | O’Reilly Automotive, Inc | 77,855 | ||||
500 | * | Penske Auto Group, Inc | 5,680 |
40
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
333 | * | Rush Enterprises, Inc (Class A) | $ | 4,449 | |||
481 | * | Sonic Automotive, Inc (Class A) | 4,117 | ||||
150 | * | US Auto Parts Network, Inc | 900 | ||||
TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS | 323,197 | ||||||
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.7% | |||||||
1,363 | * | Builders FirstSource, Inc | 3,271 | ||||
1,593 | Fastenal Co | 79,953 | |||||
20,394 | Home Depot, Inc | 572,460 | |||||
17,377 | Lowe’s Cos, Inc | 354,838 | |||||
278 | * | Lumber Liquidators, Inc | 6,486 | ||||
TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES | 1,017,008 | ||||||
BUSINESS SERVICES - 7.2% | |||||||
215 | * | 3D Systems Corp | 2,698 | ||||
873 | Aaron Rents, Inc | 14,902 | |||||
549 | ABM Industries, Inc | 11,502 | |||||
392 | * | Acacia Research (Acacia Technologies) | 5,578 | ||||
400 | * | ACI Worldwide, Inc | 7,788 | ||||
6,249 | Activision Blizzard, Inc | 65,552 | |||||
620 | * | Actuate Corp | 2,759 | ||||
820 | * | Acxiom Corp | 12,046 | ||||
335 | Administaff, Inc | 8,094 | |||||
6,341 | * | Adobe Systems, Inc | 167,593 | ||||
187 | * | Advent Software, Inc | 8,782 | ||||
532 | Aircastle Ltd | 4,176 | |||||
2,075 | * | Akamai Technologies, Inc | 84,183 | ||||
642 | * | Alliance Data Systems Corp | 38,212 | ||||
2,552 | * | Amdocs Ltd | 68,521 | ||||
412 | * | American Reprographics Co | 3,597 | ||||
276 | * | American Software, Inc (Class A) | 1,275 | ||||
357 | * | AMN Healthcare Services, Inc | 2,670 | ||||
224 | * | Ancestry.com, Inc | 3,947 | ||||
1,083 | * | Ansys, Inc | 43,937 | ||||
318 | * | APAC Customer Services, Inc | 1,813 | ||||
361 | Arbitron, Inc | 9,252 | |||||
297 | * | ArcSight, Inc | 6,650 | ||||
1,084 | * | Ariba, Inc | 17,268 | ||||
1,879 | * | Art Technology Group, Inc | 6,426 | ||||
756 | * | Aspen Technology, Inc | 8,233 | ||||
96 | * | Asset Acceptance Capital Corp | 397 | ||||
404 | * | athenahealth, Inc | 10,557 | ||||
2,757 | * | Autodesk, Inc | 67,161 | ||||
6,118 | Automatic Data Processing, Inc | 246,311 | |||||
1,259 | * | Avis Budget Group, Inc | 12,363 | ||||
97 | Barrett Business Services, Inc | 1,203 | |||||
574 | BGC Partners, Inc (Class A) | 2,933 | |||||
538 | Blackbaud, Inc | 11,712 | |||||
426 | * | Blackboard, Inc | 15,903 | ||||
479 | * | Blue Coat Systems, Inc | 9,786 | ||||
2,184 | * | BMC Software, Inc | 75,632 | ||||
300 | * | Bottomline Technologies, Inc | 3,909 | ||||
1,271 | * | BPZ Energy, Inc | 5,275 | ||||
586 | Brady Corp (Class A) | 14,603 | |||||
550 | Brink’s Co | 10,467 | |||||
4,682 | CA, Inc | 86,149 | |||||
372 | * | CACI International, Inc (Class A) | 15,803 | ||||
3,247 | * | Cadence Design Systems, Inc | 18,800 | ||||
232 | * | CAI International, Inc | 2,761 | ||||
202 | * | Capella Education Co | 16,433 | ||||
534 | * | Cavium Networks, Inc | 13,985 | ||||
854 | * | CBIZ, Inc | 5,431 | ||||
1,213 | * | CDC Corp | 2,523 |
41
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
829 | * | Cerner Corp | $ | 62,913 | |||
834 | * | Ciber, Inc | 2,310 | ||||
2,238 | * | Citrix Systems, Inc | 94,511 | ||||
400 | * | Clear Channel Outdoor Holdings, Inc (Class A) | 3,472 | ||||
118 | * | Clinical Data, Inc | 1,468 | ||||
706 | * | Cogent Communications Group, Inc | 5,351 | ||||
633 | * | Cogent, Inc | 5,703 | ||||
459 | Cognex Corp | 8,069 | |||||
3,617 | * | Cognizant Technology Solutions Corp (Class A) | 181,067 | ||||
487 | * | Commvault Systems, Inc | 10,958 | ||||
398 | Compass Diversified Trust | 5,337 | |||||
283 | * | Compellent Technologies, Inc | 3,430 | ||||
185 | Computer Programs & Systems, Inc | 7,570 | |||||
1,859 | Computer Sciences Corp | 84,120 | |||||
174 | * | Computer Task Group, Inc | 1,124 | ||||
2,948 | * | Compuware Corp | 23,525 | ||||
491 | * | Concur Technologies, Inc | 20,956 | ||||
342 | * | Constant Contact, Inc | 7,295 | ||||
1,260 | * | Convergys Corp | 12,361 | ||||
248 | * | CoStar Group, Inc | 9,622 | ||||
485 | * | CSG Systems International, Inc | 8,890 | ||||
843 | * | Cybersource Corp | 21,522 | ||||
485 | * | DealerTrack Holdings, Inc | 7,978 | ||||
235 | * | Deltek, Inc | 1,960 | ||||
567 | Deluxe Corp | 10,631 | |||||
187 | * | Dice Holdings, Inc | 1,294 | ||||
453 | * | Digital River, Inc | 10,831 | ||||
259 | * | DivX, Inc | 1,984 | ||||
85 | * | DMRC Corp | 1,594 | ||||
202 | * | Double-Take Software, Inc | 2,119 | ||||
426 | DST Systems, Inc | 15,396 | |||||
112 | * | DynaVox, Inc | 1,793 | ||||
299 | * | DynCorp International, Inc (Class A) | 5,238 | ||||
1,405 | Earthlink, Inc | 11,184 | |||||
13,882 | * | eBay, Inc | 272,226 | ||||
322 | * | Ebix, Inc | 5,049 | ||||
330 | * | Echelon Corp | 2,419 | ||||
673 | * | Eclipsys Corp | 12,006 | ||||
248 | Electro Rent Corp | 3,172 | |||||
630 | * | Electronics for Imaging, Inc | 6,143 | ||||
698 | * | Epicor Software Corp | 5,577 | ||||
405 | * | EPIQ Systems, Inc | 5,237 | ||||
1,500 | Equifax, Inc | 42,090 | |||||
250 | * | ExlService Holdings, Inc | 4,293 | ||||
2,472 | Expedia, Inc | 46,424 | |||||
965 | * | F5 Networks, Inc | 66,170 | ||||
586 | Factset Research Systems, Inc | 39,256 | |||||
602 | Fair Isaac Corp | 13,118 | |||||
313 | * | FalconStor Software, Inc | 826 | ||||
3,996 | Fidelity National Information Services, Inc | 107,173 | |||||
1,837 | * | Fiserv, Inc | 83,877 | ||||
178 | * | Forrester Research, Inc | 5,386 | ||||
882 | * | Gartner, Inc | 20,507 | ||||
299 | * | Gerber Scientific, Inc | 1,600 | ||||
483 | * | Global Cash Access, Inc | 3,482 | ||||
192 | * | Global Sources Ltd | 1,505 | ||||
2,934 | * | Google, Inc (Class A) | 1,305,482 | ||||
334 | * | H&E Equipment Services, Inc | 2,502 | ||||
476 | * | Hackett Group, Inc | 1,338 | ||||
550 | Healthcare Services Group | 10,423 | |||||
451 | Heartland Payment Systems, Inc | 6,693 | |||||
114 | * | HeartWare International, Inc | 7,988 | ||||
200 | Heidrick & Struggles International, Inc | 4,564 | |||||
335 | * | HMS Holdings Corp | 18,164 | ||||
376 | * | Hudson Highland Group, Inc | 1,654 |
42
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
543 | * | Hypercom Corp | $ | 2,520 | |||
213 | iGate Corp | 2,731 | |||||
571 | * | IHS, Inc (Class A) | 33,358 | ||||
467 | * | infoGROUP, Inc | 3,727 | ||||
1,047 | * | Informatica Corp | 25,002 | ||||
367 | * | Infospace, Inc | 2,760 | ||||
259 | * | Innerworkings, Inc | 1,769 | ||||
174 | * | Integral Systems, Inc | 1,105 | ||||
439 | Interactive Data Corp | 14,654 | |||||
144 | * | Interactive Intelligence, Inc | 2,366 | ||||
538 | * | Internap Network Services Corp | 2,243 | ||||
333 | * | Internet Brands, Inc (Class A) | 3,440 | ||||
405 | * | Internet Capital Group, Inc | 3,078 | ||||
5,779 | * | Interpublic Group of Cos, Inc | 41,204 | ||||
3,377 | * | Intuit, Inc | 117,418 | ||||
377 | * | inVentiv Health, Inc | 9,651 | ||||
2,177 | Iron Mountain, Inc | 48,895 | |||||
1,014 | Jack Henry & Associates, Inc | 24,214 | |||||
480 | * | JDA Software Group, Inc | 10,550 | ||||
6,334 | * | Juniper Networks, Inc | 144,542 | ||||
300 | * | Kelly Services, Inc (Class A) | 4,461 | ||||
276 | * | Kenexa Corp | 3,312 | ||||
168 | Keynote Systems, Inc | 1,515 | |||||
366 | * | Kforce, Inc | 4,667 | ||||
298 | * | Knot, Inc | 2,318 | ||||
500 | * | Korn/Ferry International | 6,950 | ||||
736 | * | Lamar Advertising Co (Class A) | 18,047 | ||||
1,649 | * | Lawson Software, Inc | 12,038 | ||||
884 | * | Limelight Networks, Inc | 3,881 | ||||
704 | * | Lionbridge Technologies | 3,217 | ||||
163 | * | Liquidity Services, Inc | 2,112 | ||||
493 | * | Liveperson, Inc | 3,382 | ||||
201 | * | Local.com Corp | 1,375 | ||||
179 | * | LogMeIn, Inc | 4,695 | ||||
629 | * | Magma Design Automation, Inc | 1,786 | ||||
311 | * | Manhattan Associates, Inc | 8,568 | ||||
938 | Manpower, Inc | 40,503 | |||||
292 | * | Mantech International Corp (Class A) | 12,430 | ||||
206 | Marchex, Inc (Class B) | 793 | |||||
102 | * | Marlin Business Services Corp | 1,233 | ||||
1,172 | Mastercard, Inc (Class A) | 233,849 | |||||
1,903 | * | McAfee, Inc | 58,460 | ||||
231 | * | Medidata Solutions, Inc | 3,578 | ||||
1,291 | * | Mentor Graphics Corp | 11,425 | ||||
92,243 | Microsoft Corp | 2,122,510 | |||||
100 | * | MicroStrategy, Inc (Class A) | 7,509 | ||||
529 | * | ModusLink Global Solutions, Inc | 3,190 | ||||
991 | * | MoneyGram International, Inc | 2,428 | ||||
165 | * | Monotype Imaging Holdings, Inc | 1,487 | ||||
1,517 | * | Monster Worldwide, Inc | 17,673 | ||||
2,471 | Moody’s Corp | 49,222 | |||||
2,786 | * | Move, Inc | 5,711 | ||||
74 | * | NCI, Inc (Class A) | 1,671 | ||||
2,098 | * | NCR Corp | 25,428 | ||||
481 | * | NetFlix, Inc | 52,261 | ||||
341 | * | Netscout Systems, Inc | 4,849 | ||||
201 | * | NetSuite, Inc | 2,541 | ||||
357 | * | Network Equipment Technologies, Inc | 1,246 | ||||
612 | NIC, Inc | 3,923 | |||||
4,067 | * | Novell, Inc | 23,101 | ||||
2,735 | * | Nuance Communications, Inc | 40,888 | ||||
3,697 | Omnicom Group, Inc | 126,807 | |||||
282 | * | On Assignment, Inc | 1,418 | ||||
222 | * | Online Resources Corp | 921 |
43
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
190 | * | OpenTable, Inc | $ | 7,879 | |||
155 | Opnet Technologies, Inc | 2,277 | |||||
45,874 | Oracle Corp | 984,455 | |||||
1,404 | * | Parametric Technology Corp | 22,001 | ||||
237 | * | PC-Tel, Inc | 1,194 | ||||
268 | * | PDF Solutions, Inc | 1,286 | ||||
162 | Pegasystems, Inc | 5,202 | |||||
320 | * | Perficient, Inc | 2,851 | ||||
557 | * | Phase Forward, Inc | 9,291 | ||||
205 | * | Portfolio Recovery Associates, Inc | 13,690 | ||||
762 | * | Premiere Global Services, Inc | 4,831 | ||||
476 | * | Progress Software Corp | 14,294 | ||||
147 | * | PROS Holdings, Inc | 956 | ||||
108 | QAD, Inc | 446 | |||||
226 | Quality Systems, Inc | 13,106 | |||||
719 | * | Quest Software, Inc | 12,971 | ||||
124 | * | QuinStreet, Inc | 1,427 | ||||
1,165 | * | Rackspace Hosting, Inc | 21,366 | ||||
353 | * | Radiant Systems, Inc | 5,104 | ||||
187 | * | Radisys Corp | 1,780 | ||||
1,196 | * | RealNetworks, Inc | 3,947 | ||||
2,323 | * | Red Hat, Inc | 67,228 | ||||
100 | Renaissance Learning, Inc | 1,469 | |||||
793 | * | Rent-A-Center, Inc | 16,066 | ||||
200 | * | RightNow Technologies, Inc | 3,138 | ||||
1,798 | Robert Half International, Inc | 42,343 | |||||
515 | Rollins, Inc | 10,655 | |||||
127 | * | Rosetta Stone, Inc | 2,916 | ||||
820 | * | RSC Holdings, Inc | 5,059 | ||||
792 | * | S1 Corp | 4,760 | ||||
286 | * | Saba Software, Inc | 1,473 | ||||
1,389 | * | Salesforce.com, Inc | 119,204 | ||||
1,239 | Sapient Corp | 12,563 | |||||
527 | * | Smith Micro Software, Inc | 5,012 | ||||
424 | * | SolarWinds, Inc | 6,801 | ||||
660 | * | SonicWALL, Inc | 7,755 | ||||
3,028 | * | Sonus Networks, Inc | 8,206 | ||||
810 | Sotheby’s (Class A) | 18,525 | |||||
328 | * | Sourcefire, Inc | 6,232 | ||||
624 | * | Spherion Corp | 3,407 | ||||
501 | * | SRA International, Inc (Class A) | 9,855 | ||||
154 | * | SS&C Technologies Holdings, Inc | 2,469 | ||||
234 | * | Stratasys, Inc | 5,747 | ||||
759 | * | SuccessFactors, Inc | 15,780 | ||||
513 | * | SupportSoft, Inc | 2,134 | ||||
369 | * | SXC Health Solutions Corp | 27,029 | ||||
1,050 | * | Sybase, Inc | 67,893 | ||||
460 | * | SYKES Enterprises, Inc | 6,546 | ||||
9,625 | * | Symantec Corp | 133,595 | ||||
203 | * | Synchronoss Technologies, Inc | 3,851 | ||||
233 | * | SYNNEX Corp | 5,969 | ||||
1,849 | * | Synopsys, Inc | 38,589 | ||||
140 | Syntel, Inc | 4,753 | |||||
925 | Take-Two Interactive Software, Inc | 8,325 | |||||
200 | TAL International Group, Inc | 4,494 | |||||
481 | * | Taleo Corp (Class A) | 11,683 | ||||
177 | * | TechTarget, Inc | 952 | ||||
455 | * | TeleTech Holdings, Inc | 5,865 | ||||
112 | Textainer Group Holdings Ltd | 2,704 | |||||
787 | * | THQ, Inc | 3,400 | ||||
2,110 | * | TIBCO Software, Inc | 25,447 | ||||
207 | * | Tier Technologies, Inc | 1,259 | ||||
303 | * | TNS, Inc | 5,284 | ||||
1,957 | Total System Services, Inc | 26,615 |
44
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
359 | * | TradeStation Group, Inc | $ | 2,423 | |||
550 | * | TrueBlue, Inc | 6,155 | ||||
295 | * | Ultimate Software Group, Inc | 9,694 | ||||
181 | * | Unica Corp | 1,734 | ||||
586 | * | Unisys Corp | 10,835 | ||||
1,056 | United Online, Inc | 6,083 | |||||
747 | * | United Rentals, Inc | 6,962 | ||||
1,094 | * | Valueclick, Inc | 11,695 | ||||
248 | * | Vasco Data Security International | 1,530 | ||||
2,200 | * | VeriSign, Inc | 58,410 | ||||
263 | Viad Corp | 4,642 | |||||
385 | VirnetX Holding Corp | 2,279 | |||||
156 | * | Virtusa Corp | 1,455 | ||||
5,622 | Visa, Inc (Class A) | 397,756 | |||||
867 | * | VMware, Inc (Class A) | 54,266 | ||||
202 | * | Vocus, Inc | 3,087 | ||||
150 | * | Volt Information Sciences, Inc | 1,260 | ||||
947 | * | Wave Systems Corp | 3,068 | ||||
648 | * | WebMD Health Corp (Class A) | 30,087 | ||||
564 | * | Websense, Inc | 10,660 | ||||
16,554 | * | Yahoo!, Inc | 228,942 | ||||
TOTAL BUSINESS SERVICES | 10,198,504 | ||||||
CHEMICALS AND ALLIED PRODUCTS - 10.8% | |||||||
18,589 | Abbott Laboratories | 869,593 | |||||
75 | * | Abraxis Bioscience, Inc | 5,565 | ||||
457 | * | Acorda Therapeutics, Inc | 14,217 | ||||
2,557 | Air Products & Chemicals, Inc | 165,719 | |||||
276 | * | Albany Molecular Research, Inc | 1,427 | ||||
1,104 | Albemarle Corp | 43,840 | |||||
1,031 | Alberto-Culver Co | 27,930 | |||||
1,079 | * | Alexion Pharmaceuticals, Inc | 55,234 | ||||
463 | * | Alexza Pharmaceuticals, Inc | 1,259 | ||||
1,288 | * | Alkermes, Inc | 16,036 | ||||
955 | * | Allos Therapeutics, Inc | 5,854 | ||||
434 | * | Alnylam Pharmaceuticals, Inc | 6,519 | ||||
252 | * | AMAG Pharmaceuticals, Inc | 8,656 | ||||
241 | American Vanguard Corp | 1,911 | |||||
11,537 | * | Amgen, Inc | 606,846 | ||||
297 | Arch Chemicals, Inc | 9,130 | |||||
249 | * | Ardea Biosciences, Inc | 5,119 | ||||
955 | * | Arena Pharmaceuticals, Inc | 2,932 | ||||
364 | * | Arqule, Inc | 1,565 | ||||
600 | * | Array Biopharma, Inc | 1,830 | ||||
934 | Ashland, Inc | 43,356 | |||||
567 | * | Auxilium Pharmaceuticals, Inc | 13,325 | ||||
745 | * | AVANIR Pharmaceuticals, Inc | 1,915 | ||||
1,360 | Avery Dennison Corp | 43,697 | |||||
937 | * | AVI BioPharma, Inc | 1,509 | ||||
5,158 | Avon Products, Inc | 136,687 | |||||
331 | Balchem Corp | 8,275 | |||||
572 | * | BioCryst Pharmaceuticals, Inc | 3,381 | ||||
125 | * | Biodel, Inc | 473 | ||||
3,216 | * | Biogen Idec, Inc | 152,599 | ||||
1,203 | * | BioMarin Pharmaceuticals, Inc | 22,809 | ||||
528 | * | BioMimetic Therapeutics, Inc | 5,871 | ||||
794 | * | Biosante Pharmaceuticals, Inc | 1,397 | ||||
45 | * | Biospecifics Technologies Corp | 895 | ||||
252 | * | Biotime, Inc | 1,552 | ||||
20,708 | Bristol-Myers Squibb Co | 516,458 | |||||
793 | Cabot Corp | 19,119 | |||||
480 | * | Cadence Pharmaceuticals, Inc | 3,365 |
45
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
730 | * | Calgon Carbon Corp | $ | 9,665 | |||
206 | * | Cambrex Corp | 649 | ||||
1,861 | Celanese Corp (Series A) | 46,358 | |||||
5,551 | * | Celgene Corp | 282,102 | ||||
175 | * | Celldex Therapeutics, Inc | 798 | ||||
908 | * | Cephalon, Inc | 51,529 | ||||
857 | CF Industries Holdings, Inc | 54,377 | |||||
799 | * | Charles River Laboratories International, Inc | 27,334 | ||||
325 | * | Chelsea Therapeutics International, Inc | 952 | ||||
853 | Church & Dwight Co, Inc | 53,492 | |||||
1,696 | Clorox Co | 105,423 | |||||
5,907 | Colgate-Palmolive Co | 465,235 | |||||
804 | * | Combinatorx, Inc | 1,166 | ||||
104 | * | Compound partnering business | 1,057 | ||||
805 | * | Cubist Pharmaceuticals, Inc | 16,583 | ||||
754 | * | Curis, Inc | 1,048 | ||||
565 | * | Cypress Bioscience, Inc | 1,300 | ||||
584 | Cytec Industries, Inc | 23,354 | |||||
530 | * | Cytokinetics, Inc | 1,256 | ||||
335 | * | Cytori Therapeutics, Inc | 1,166 | ||||
1,260 | * | Cytrx | 970 | ||||
1,657 | * | Dendreon Corp | 53,571 | ||||
13,886 | Dow Chemical Co | 329,376 | |||||
10,913 | Du Pont (E.I.) de Nemours & Co | 377,481 | |||||
698 | * | Durect Corp | 1,696 | ||||
859 | * | Dynavax Technologies Corp | 1,598 | ||||
868 | Eastman Chemical Co | 46,316 | |||||
2,809 | Ecolab, Inc | 126,152 | |||||
12,249 | Eli Lilly & Co | 410,342 | |||||
350 | * | Elizabeth Arden, Inc | 5,082 | ||||
220 | * | Emergent Biosolutions, Inc | 3,595 | ||||
551 | * | Enzon Pharmaceuticals, Inc | 5,868 | ||||
1,327 | Estee Lauder Cos (Class A) | 73,954 | |||||
218 | * | Eurand NV | 2,112 | ||||
204 | Female Health Co | 1,059 | |||||
1,134 | * | Ferro Corp | 8,358 | ||||
876 | FMC Corp | 50,309 | |||||
3,641 | * | Forest Laboratories, Inc | 99,873 | ||||
3,214 | * | Genzyme Corp | 163,175 | ||||
403 | * | Georgia Gulf Corp | 5,376 | ||||
1,012 | * | Geron Corp | 5,080 | ||||
10,719 | * | Gilead Sciences, Inc | 367,447 | ||||
605 | H.B. Fuller Co | 11,489 | |||||
867 | * | Halozyme Therapeutics, Inc | 6,104 | ||||
107 | Hawkins, Inc | 2,577 | |||||
118 | * | Hi-Tech Pharmacal Co, Inc | 2,703 | ||||
1,998 | * | Hospira, Inc | 114,785 | ||||
2,255 | * | Human Genome Sciences, Inc | 51,098 | ||||
2,218 | Huntsman Corp | 19,230 | |||||
431 | * | Idenix Pharmaceuticals, Inc | 2,155 | ||||
720 | * | Idexx Laboratories, Inc | 43,848 | ||||
866 | * | Immucor, Inc | 16,497 | ||||
811 | * | Immunogen, Inc | 7,518 | ||||
738 | * | Impax Laboratories, Inc | 14,066 | ||||
620 | * | Inhibitex, Inc | 1,581 | ||||
229 | Innophos Holdings, Inc | 5,972 | |||||
708 | * | Inspire Pharmaceuticals, Inc | 3,533 | ||||
140 | Inter Parfums, Inc | 1,992 | |||||
464 | * | InterMune, Inc | 4,338 | ||||
957 | International Flavors & Fragrances, Inc | 40,596 | |||||
1,041 | * | Inverness Medical Innovations, Inc | 27,753 | ||||
187 | * | Jazz Pharmaceuticals, Inc | 1,464 | ||||
33,215 | Johnson & Johnson | 1,961,678 | |||||
162 | Kaiser Aluminum Corp | 5,617 |
46
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
618 | * | Keryx Biopharmaceuticals, Inc | $ | 2,262 | |||
2,997 | * | King Pharmaceuticals, Inc | 22,747 | ||||
75 | KMG Chemicals, Inc | 1,077 | |||||
239 | Koppers Holdings, Inc | 5,373 | |||||
230 | * | Landec Corp | 1,355 | ||||
1,382 | * | Ligand Pharmaceuticals, Inc (Class B) | 2,018 | ||||
821 | Lubrizol Corp | 65,935 | |||||
641 | * | MannKind Corp | 4,096 | ||||
94 | * | MAP Pharmaceuticals, Inc | 1,233 | ||||
400 | Martek Biosciences Corp | 9,484 | |||||
547 | * | Medicines Co | 4,163 | ||||
709 | Medicis Pharmaceutical Corp (Class A) | 15,513 | |||||
152 | * | Medifast, Inc | 3,938 | ||||
358 | * | Medivation, Inc | 3,165 | ||||
37,553 | Merck & Co, Inc | 1,313,228 | |||||
489 | Meridian Bioscience, Inc | 8,313 | |||||
964 | * | Micromet, Inc | 6,015 | ||||
246 | Minerals Technologies, Inc | 11,695 | |||||
571 | * | Momenta Pharmaceuticals, Inc | 7,000 | ||||
6,569 | Monsanto Co | 303,619 | |||||
1,905 | Mosaic Co | 74,257 | |||||
3,666 | * | Mylan Laboratories, Inc | 62,469 | ||||
612 | * | Nabi Biopharmaceuticals | 3,329 | ||||
1,559 | Nalco Holding Co | 31,897 | |||||
650 | * | NBTY, Inc | 22,107 | ||||
516 | * | Neuralstem, Inc | 1,290 | ||||
559 | * | Neurocrine Biosciences, Inc | 3,130 | ||||
410 | * | NeurogesX, Inc | 2,718 | ||||
125 | NewMarket Corp | 10,915 | |||||
113 | NL Industries, Inc | 689 | |||||
765 | * | Novavax, Inc | 1,660 | ||||
709 | * | NPS Pharmaceuticals, Inc | 4,566 | ||||
127 | * | Nutraceutical International Corp | 1,938 | ||||
203 | * | Obagi Medical Products, Inc | 2,399 | ||||
943 | Olin Corp | 17,059 | |||||
346 | * | OM Group, Inc | 8,256 | ||||
215 | * | Omeros Corp | 1,595 | ||||
511 | * | Omnova Solutions, Inc | 3,991 | ||||
797 | * | Onyx Pharmaceuticals, Inc | 17,207 | ||||
1,089 | * | Opko Health, Inc | 2,461 | ||||
348 | * | Optimer Pharmaceuticals, Inc | 3,226 | ||||
360 | * | OraSure Technologies, Inc | 1,667 | ||||
224 | * | Orexigen Therapeutics, Inc | 941 | ||||
170 | * | Osiris Therapeutics, Inc | 988 | ||||
1,587 | * | Pactiv Corp | 44,198 | ||||
300 | * | Pain Therapeutics, Inc | 1,668 | ||||
424 | * | Par Pharmaceutical Cos, Inc | 11,007 | ||||
647 | * | Parexel International Corp | 14,027 | ||||
1,837 | PDL BioPharma, Inc | 10,324 | |||||
617 | * | Peregrine Pharmaceuticals, Inc | 1,327 | ||||
960 | Perrigo Co | 56,707 | |||||
278 | PetMed Express, Inc | 4,948 | |||||
97,139 | Pfizer, Inc | 1,385,202 | |||||
468 | * | Pharmacyclics, Inc | 3,117 | ||||
351 | * | Pharmasset, Inc | 9,596 | ||||
373 | * | PharMerica Corp | 5,468 | ||||
1,112 | * | PolyOne Corp | 9,363 | ||||
322 | * | Pozen, Inc | 2,257 | ||||
2,003 | PPG Industries, Inc | 121,001 | |||||
3,684 | Praxair, Inc | 279,947 | |||||
400 | * | Prestige Brands Holdings, Inc | 2,832 | ||||
34,682 | Procter & Gamble Co | 2,080,225 | |||||
300 | * | Progenics Pharmaceuticals, Inc | 1,644 | ||||
622 | *,m | Questcor Pharmaceuticals, Inc | 6,351 |
47
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
333 | * | Quidel Corp | $ | 4,226 | |||
238 | * | Revlon, Inc (Class A) | 2,656 | ||||
616 | * | Rockwood Holdings, Inc | 13,977 | ||||
1,552 | RPM International, Inc | 27,688 | |||||
722 | * | Salix Pharmaceuticals Ltd | 28,180 | ||||
630 | * | Santarus, Inc | 1,562 | ||||
450 | * | Sciclone Pharmaceuticals, Inc | 1,197 | ||||
554 | Scotts Miracle-Gro Co (Class A) | 24,603 | |||||
1,012 | * | Seattle Genetics, Inc | 12,134 | ||||
600 | Sensient Technologies Corp | 15,558 | |||||
1,110 | Sherwin-Williams Co | 76,801 | |||||
310 | * | SIGA Technologies, Inc | 2,387 | ||||
1,461 | Sigma-Aldrich Corp | 72,802 | |||||
1,458 | * | Solutia, Inc | 19,100 | ||||
354 | * | Somaxon Pharmaceuticals, Inc | 1,274 | ||||
394 | * | Spectrum Pharmaceuticals, Inc | 1,544 | ||||
1,224 | * | StemCells, Inc | 1,151 | ||||
100 | Stepan Co | 6,843 | |||||
703 | * | SuperGen, Inc | 1,420 | ||||
147 | * | SurModics, Inc | 2,412 | ||||
286 | * | Targacept, Inc | 5,528 | ||||
96 | * | Texas Petrochemicals, Inc | 1,594 | ||||
750 | * | Theravance, Inc | 9,428 | ||||
377 | * | Ulta Salon Cosmetics & Fragrance, Inc | 8,920 | ||||
1,020 | * | Unifi, Inc | 3,896 | ||||
596 | * | United Therapeutics Corp | 29,091 | ||||
92 | * | USANA Health Sciences, Inc | 3,361 | ||||
1,472 | * | USEC, Inc | 7,007 | ||||
713 | * | Valeant Pharmaceuticals International | 37,283 | ||||
1,208 | Valspar Corp | 36,385 | |||||
317 | * | Vanda Pharmaceuticals, Inc | 2,095 | ||||
2,471 | * | Vertex Pharmaceuticals, Inc | 81,296 | ||||
423 | * | Vical, Inc | 1,311 | ||||
931 | * | Viropharma, Inc | 10,437 | ||||
174 | * | Vitacost.com, Inc | 1,564 | ||||
1,080 | * | Warner Chilcott plc | 24,678 | ||||
1,347 | * | Watson Pharmaceuticals, Inc | 54,648 | ||||
220 | Westlake Chemical Corp | 4,085 | |||||
878 | * | WR Grace & Co | 18,473 | ||||
288 | * | Xenoport, Inc | 2,825 | ||||
599 | * | ZIOPHARM Oncology, Inc | 1,905 | ||||
405 | * | Zymogenetics, Inc | 1,709 | ||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 15,247,320 | ||||||
COAL MINING - 0.3% | |||||||
1,446 | * | Alpha Natural Resources, Inc | 48,976 | ||||
1,955 | Arch Coal, Inc | 38,729 | |||||
377 | * | Cloud Peak Energy, Inc | 4,999 | ||||
2,719 | Consol Energy, Inc | 91,793 | |||||
1,568 | * | International Coal Group, Inc | 6,037 | ||||
420 | * | James River Coal Co | 6,686 | ||||
192 | * | L&L Energy, Inc | 1,651 | ||||
1,203 | Massey Energy Co | 32,902 | |||||
3,235 | Peabody Energy Corp | 126,586 | |||||
TOTAL COAL MINING | 358,359 | ||||||
COMMUNICATIONS - 4.1% | |||||||
271 | * | AboveNet, Inc | 12,786 | ||||
743 | Adtran, Inc | 20,262 | |||||
463 | Alaska Communications Systems Group, Inc | 3,931 | |||||
4,858 | * | American Tower Corp (Class A) | 216,181 |
48
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
356 | * | Anixter International, Inc | $ | 15,166 | |||
1,288 | * | AOL, Inc | 26,778 | ||||
878 | * | Aruba Networks, Inc | 12,503 | ||||
71,163 | AT&T, Inc | 1,721,432 | |||||
105 | Atlantic Tele-Network, Inc | 4,337 | |||||
200 | * | Audiovox Corp (Class A) | 1,470 | ||||
840 | * | Brightpoint, Inc | 5,880 | ||||
2,863 | Cablevision Systems Corp (Class A) | 68,741 | |||||
277 | * | Cbeyond Communications, Inc | 3,463 | ||||
8,189 | CBS Corp (Class B) | 105,884 | |||||
463 | * | Central European Media Enterprises Ltd (Class A) | 9,214 | ||||
3,619 | CenturyTel, Inc | 120,549 | |||||
3,005 | * | Cincinnati Bell, Inc | 9,045 | ||||
1,803 | * | Clearwire Corp (Class A) | 13,126 | ||||
33,918 | Comcast Corp (Class A) | 589,155 | |||||
305 | Consolidated Communications Holdings, Inc | 5,188 | |||||
3,497 | * | Crown Castle International Corp | 130,298 | ||||
200 | * | Crown Media Holdings, Inc (Class A) | 352 | ||||
300 | * | DG FastChannel, Inc | 9,774 | ||||
334 | * | DigitalGlobe, Inc | 8,784 | ||||
10,711 | * | DIRECTV | 363,316 | ||||
2,532 | DISH Network Corp (Class A) | 45,956 | |||||
285 | * | Entercom Communications Corp (Class A) | 2,514 | ||||
599 | * | Entravision Communications Corp (Class A) | 1,264 | ||||
542 | * | Equinix, Inc | 44,021 | ||||
568 | * | FiberTower Corp | 2,681 | ||||
52 | Fisher Communications, Inc | 876 | |||||
3,782 | Frontier Communications Corp | 26,890 | |||||
464 | * | General Communication, Inc (Class A) | 3,522 | ||||
264 | * | GeoEye, Inc | 8,221 | ||||
358 | * | Global Crossing Ltd | 3,784 | ||||
998 | Global Payments, Inc | 36,467 | |||||
869 | * | Globalstar, Inc | 1,338 | ||||
591 | * | Gray Television, Inc | 1,424 | ||||
71 | * | Hughes Communications, Inc | 1,727 | ||||
1,091 | * | IAC/InterActiveCorp | 23,969 | ||||
1,150 | * | ICO Global Communications Holdings Ltd (Class A) | 1,852 | ||||
164 | * | IDT Corp (Class B) | 2,091 | ||||
592 | * | j2 Global Communications, Inc | 12,929 | ||||
284 | * | Knology, Inc | 3,104 | ||||
192 | * | Kratos Defense & Security Solutions, Inc | 2,016 | ||||
710 | * | Leap Wireless International, Inc | 9,216 | ||||
19,656 | * | Level 3 Communications, Inc | 21,425 | ||||
3,064 | * | Liberty Global, Inc (Class A) | 79,633 | ||||
968 | * | Liberty Media Corp - Capital (Series A) | 40,569 | ||||
638 | * | Liberty Media Corp - Starz | 33,074 | ||||
7,198 | * | Liberty Media Holding Corp (Interactive A) | 75,579 | ||||
341 | * | Lin TV Corp (Class A) | 1,845 | ||||
562 | * | Lodgenet Entertainment Corp | 2,085 | ||||
573 | * | Mastec, Inc | 5,386 | ||||
493 | * | Mediacom Communications Corp (Class A) | 3,313 | ||||
3,026 | * | MetroPCS Communications, Inc | 24,783 | ||||
874 | * | NeuStar, Inc (Class A) | 18,022 | ||||
391 | * | Neutral Tandem, Inc | 4,399 | ||||
2,003 | * | NII Holdings, Inc (Class B) | 65,138 | ||||
435 | * | Novatel Wireless, Inc | 2,497 | ||||
363 | NTELOS Holdings Corp | 6,244 | |||||
1,409 | * | PAETEC Holding Corp | 4,805 | ||||
28 | Preformed Line Products Co | 783 | |||||
20,325 | Qwest Communications International, Inc | 106,706 | |||||
429 | * | RCN Corp | 6,353 | ||||
423 | * | SAVVIS, Inc | 6,239 | ||||
1,392 | * | SBA Communications Corp (Class A) | 47,342 | ||||
364 | Shenandoah Telecom Co | 6,457 |
49
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
540 | * | Sinclair Broadcast Group, Inc (Class A) | $ | 3,148 | |||
35,612 | * | Sprint Nextel Corp | 150,995 | ||||
823 | * | Syniverse Holdings, Inc | 16,830 | ||||
370 | * | TeleCommunication Systems, Inc (Class A) | 1,532 | ||||
1,017 | Telephone & Data Systems, Inc | 30,907 | |||||
704 | * | Terremark Worldwide, Inc | 5,498 | ||||
4,280 | Time Warner Cable, Inc | 222,902 | |||||
1,259 | * | TiVo, Inc | 9,291 | ||||
200 | * | US Cellular Corp | 8,230 | ||||
250 | USA Mobility, Inc | 3,230 | |||||
34,041 | Verizon Communications, Inc | 953,828 | |||||
1,236 | * | Vonage Holdings Corp | 2,843 | ||||
5,817 | Windstream Corp | 61,428 | |||||
TOTAL COMMUNICATIONS | 5,746,816 | ||||||
DEPOSITORY INSTITUTIONS - 7.1% | |||||||
180 | 1st Source Corp | 3,046 | |||||
266 | * | 1st United Bancorp, Inc | 1,958 | ||||
278 | Abington Bancorp, Inc | 2,424 | |||||
51 | Alliance Financial Corp | 1,418 | |||||
71 | American National Bankshares, Inc | 1,519 | |||||
283 | Ameris Bancorp | 2,737 | |||||
77 | Ames National Corp | 1,505 | |||||
103 | Arrow Financial Corp | 2,379 | |||||
2,146 | Associated Banc-Corp | 26,310 | |||||
951 | Astoria Financial Corp | 13,086 | |||||
130 | Bancfirst Corp | 4,744 | |||||
298 | Banco Latinoamericano de Exportaciones S.A. (Class E) | 3,722 | |||||
46 | Bancorp Rhode Island, Inc | 1,205 | |||||
1,007 | Bancorpsouth, Inc | 18,005 | |||||
838 | Bank Mutual Corp | 4,760 | |||||
120,828 | Bank of America Corp | 1,736,298 | |||||
578 | Bank of Hawaii Corp | 27,946 | |||||
61 | Bank of Marin Bancorp | 1,948 | |||||
14,607 | Bank of New York Mellon Corp | 360,647 | |||||
221 | Bank of the Ozarks, Inc | 7,839 | |||||
300 | BankFinancial Corp | 2,493 | |||||
8,332 | BB&T Corp | 219,215 | |||||
392 | * | Beneficial Mutual Bancorp, Inc | 3,873 | ||||
165 | Berkshire Hills Bancorp, Inc | 3,214 | |||||
87 | * | BofI Holding, Inc | 1,228 | ||||
290 | BOK Financial Corp | 13,766 | |||||
826 | Boston Private Financial Holdings, Inc | 5,311 | |||||
75 | Bridge Bancorp, Inc | 1,821 | |||||
668 | Brookline Bancorp, Inc | 5,932 | |||||
86 | Bryn Mawr Bank Corp | 1,443 | |||||
87 | Camden National Corp | 2,390 | |||||
101 | Capital City Bank Group, Inc | 1,250 | |||||
239 | Capitol Federal Financial | 7,925 | |||||
286 | Cardinal Financial Corp | 2,643 | |||||
75 | Cass Information Systems, Inc | 2,569 | |||||
1,028 | Cathay General Bancorp | 10,619 | |||||
431 | * | Center Financial | 2,220 | ||||
261 | Centerstate Banks of Florida, Inc | 2,633 | |||||
168 | Century Bancorp, Inc | 3,703 | |||||
294 | Chemical Financial Corp | 6,403 | |||||
254,446 | * | Citigroup, Inc | 956,717 | ||||
101 | Citizens & Northern Corp | 1,081 | |||||
5,368 | * | Citizens Republic Bancorp, Inc | 4,563 | ||||
262 | City Holding Co | 7,305 | |||||
554 | City National Corp | 28,381 | |||||
112 | Clifton Savings Bancorp, Inc | 969 |
50
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
105 | CNB Financial Corp | $ | 1,153 | ||||
395 | CoBiz, Inc | 2,603 | |||||
490 | Columbia Banking System, Inc | 8,947 | |||||
2,124 | Comerica, Inc | 78,227 | |||||
827 | Commerce Bancshares, Inc | 29,764 | |||||
400 | Community Bank System, Inc | 8,812 | |||||
182 | Community Trust Bancorp, Inc | 4,568 | |||||
632 | Cullen/Frost Bankers, Inc | 32,485 | |||||
933 | CVB Financial Corp | 8,864 | |||||
309 | Dime Community Bancshares | 3,810 | |||||
300 | * | Dollar Financial Corp | 5,937 | ||||
118 | * | Eagle Bancorp, Inc | 1,390 | ||||
1,835 | East West Bancorp, Inc | 27,984 | |||||
90 | Enterprise Financial Services Corp | 868 | |||||
110 | ESB Financial Corp | 1,436 | |||||
197 | ESSA Bancorp, Inc | 2,425 | |||||
589 | * | Euronet Worldwide, Inc | 7,533 | ||||
9,574 | Fifth Third Bancorp | 117,664 | |||||
126 | Financial Institutions, Inc | 2,238 | |||||
174 | First Bancorp (NC) | 2,521 | |||||
1,292 | First Bancorp (Puerto Rico) | 685 | |||||
107 | First Bancorp, Inc | 1,405 | |||||
625 | First Busey Corp | 2,831 | |||||
70 | First Citizens Bancshares, Inc (Class A) | 13,463 | |||||
1,229 | First Commonwealth Financial Corp | 6,452 | |||||
189 | First Community Bancshares, Inc | 2,776 | |||||
747 | First Financial Bancorp | 11,168 | |||||
299 | First Financial Bankshares, Inc | 14,379 | |||||
188 | First Financial Corp | 4,852 | |||||
133 | First Financial Holdings, Inc | 1,523 | |||||
2,697 | * | First Horizon National Corp | 30,885 | ||||
149 | First Interstate Bancsystem, Inc | 2,344 | |||||
557 | First Merchants Corp | 4,723 | |||||
893 | First Midwest Bancorp, Inc | 10,859 | |||||
2,512 | First Niagara Financial Group, Inc | 31,475 | |||||
66 | First of Long Island Corp | 1,697 | |||||
88 | First South Bancorp, Inc | 934 | |||||
1,217 | FirstMerit Corp | 20,847 | |||||
552 | * | Flagstar Bancorp, Inc | 1,733 | ||||
358 | Flushing Financial Corp | 4,378 | |||||
1,179 | FNB Corp | 9,467 | |||||
2,104 | Fulton Financial Corp | 20,304 | |||||
133 | German American Bancorp, Inc | 2,035 | |||||
860 | Glacier Bancorp, Inc | 12,616 | |||||
135 | Great Southern Bancorp, Inc | 2,742 | |||||
145 | * | Greene County Bancshares, Inc | 1,852 | ||||
365 | Hancock Holding Co | 12,176 | |||||
158 | Heartland Financial USA, Inc | 2,730 | |||||
121 | * | Heritage Financial Corp | 1,811 | ||||
106 | * | Home Bancorp, Inc | 1,368 | ||||
266 | Home Bancshares, Inc | 6,067 | |||||
199 | Home Federal Bancorp, Inc | 2,513 | |||||
5,693 | Hudson City Bancorp, Inc | 69,682 | |||||
142 | Hudson Valley Holding Corp | 3,283 | |||||
8,705 | Huntington Bancshares, Inc | 48,226 | |||||
323 | IBERIABANK Corp | 16,628 | |||||
252 | Independent Bank Corp | 6,219 | |||||
674 | International Bancshares Corp | 11,249 | |||||
579 | * | Investors Bancorp, Inc | 7,596 | ||||
47,915 | JPMorgan Chase & Co | 1,754,168 | |||||
227 | Kearny Financial Corp | 2,079 | |||||
10,596 | Keycorp | 81,483 | |||||
249 | Lakeland Bancorp, Inc | 2,121 | |||||
147 | Lakeland Financial Corp | 2,937 |
51
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
885 | M&T Bank Corp | $ | 75,181 | ||||
216 | MainSource Financial Group, Inc | 1,549 | |||||
6,483 | Marshall & Ilsley Corp | 46,548 | |||||
661 | MB Financial, Inc | 12,156 | |||||
60 | Merchants Bancshares, Inc | 1,333 | |||||
119 | * | Meridian Interstate Bancorp, Inc | 1,297 | ||||
56 | Midsouth Bancorp, Inc | 715 | |||||
82 | MidWestOne Financial Group, Inc | 1,269 | |||||
460 | * | Nara Bancorp, Inc | 3,878 | ||||
100 | NASB Financial, Inc | 1,515 | |||||
84 | National Bankshares, Inc | 2,035 | |||||
1,529 | National Penn Bancshares, Inc | 9,189 | |||||
374 | NBT Bancorp, Inc | 7,637 | |||||
5,240 | New York Community Bancorp, Inc | 80,015 | |||||
1,211 | NewAlliance Bancshares, Inc | 13,575 | |||||
2,913 | Northern Trust Corp | 136,037 | |||||
227 | Northfield Bancorp, Inc | 2,946 | |||||
1,214 | Northwest Bancshares, Inc | 13,925 | |||||
97 | OceanFirst Financial Corp | 1,171 | |||||
1,045 | Old National Bancorp | 10,826 | |||||
148 | * | OmniAmerican Bancorp, Inc | 1,671 | ||||
458 | Oriental Financial Group, Inc | 5,798 | |||||
228 | * | Oritani Financial Corp | 2,280 | ||||
60 | Orrstown Financial Services, Inc | 1,328 | |||||
154 | Pacific Continental Corp | 1,458 | |||||
369 | PacWest Bancorp | 6,756 | |||||
165 | Park National Corp | 10,732 | |||||
99 | Peapack Gladstone Financial Corp | 1,158 | |||||
47 | Penns Woods Bancorp, Inc | 1,430 | |||||
164 | * | Pennsylvania Commerce Bancorp, Inc | 2,024 | ||||
75 | Peoples Bancorp, Inc | 1,088 | |||||
4,471 | People’s United Financial, Inc | 60,359 | |||||
400 | * | Pinnacle Financial Partners, Inc | 5,140 | ||||
6,334 | PNC Financial Services Group, Inc | 357,871 | |||||
8,034 | * | Popular, Inc | 21,531 | ||||
630 | PrivateBancorp, Inc | 6,980 | |||||
555 | Prosperity Bancshares, Inc | 19,286 | |||||
753 | Provident Financial Services, Inc | 8,803 | |||||
421 | Provident New York Bancorp | 3,726 | |||||
13,971 | Regions Financial Corp | 91,929 | |||||
195 | Renasant Corp | 2,798 | |||||
120 | Republic Bancorp, Inc (Class A) | 2,688 | |||||
97 | Rockville Financial, Inc | 1,155 | |||||
100 | Roma Financial Corp | 1,086 | |||||
300 | S&T Bancorp, Inc | 5,928 | |||||
210 | S.Y. Bancorp, Inc | 4,826 | |||||
250 | Sandy Spring Bancorp, Inc | 3,503 | |||||
121 | * | Santander BanCorp | 1,529 | ||||
151 | SCBT Financial Corp | 5,318 | |||||
87 | Sierra Bancorp | 1,001 | |||||
475 | * | Signature Bank | 18,055 | ||||
379 | Simmons First National Corp (Class A) | 9,953 | |||||
188 | Southside Bancshares, Inc | 3,692 | |||||
383 | Southwest Bancorp, Inc | 5,090 | |||||
163 | State Bancorp, Inc | 1,549 | |||||
6,042 | State Street Corp | 204,340 | |||||
256 | StellarOne Corp | 3,269 | |||||
318 | Sterling Bancorp | 2,862 | |||||
994 | Sterling Bancshares, Inc | 4,682 | |||||
88 | Suffolk Bancorp | 2,723 | |||||
6,019 | SunTrust Banks, Inc | 140,243 | |||||
1,616 | Susquehanna Bancshares, Inc | 13,461 | |||||
520 | * | SVB Financial Group | 21,440 |
52
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
9,246 | Synovus Financial Corp | $ | 23,485 | ||||
118 | * | Taylor Capital Group, Inc | 1,527 | ||||
1,554 | TCF Financial Corp | 25,812 | |||||
150 | Territorial Bancorp, Inc | 2,843 | |||||
429 | * | Texas Capital Bancshares, Inc | 7,036 | ||||
956 | TFS Financial Corp | 11,864 | |||||
265 | * | The Bancorp, Inc | 2,075 | ||||
130 | Tompkins Trustco, Inc | 4,908 | |||||
42 | Tower Bancorp, Inc | 919 | |||||
232 | TowneBank | 3,369 | |||||
171 | Trico Bancshares | 2,895 | |||||
852 | Trustco Bank Corp NY | 4,771 | |||||
774 | Trustmark Corp | 16,115 | |||||
403 | UMB Financial Corp | 14,331 | |||||
1,383 | Umpqua Holdings Corp | 15,877 | |||||
167 | Union Bankshares Corp | 2,047 | |||||
437 | United Bankshares, Inc | 10,462 | |||||
1,406 | * | United Community Banks, Inc | 5,554 | ||||
201 | United Financial Bancorp, Inc | 2,744 | |||||
198 | Univest Corp of Pennsylvania | 3,429 | |||||
23,084 | US Bancorp | 515,927 | |||||
1,935 | Valley National Bancorp | 26,355 | |||||
124 | ViewPoint Financial Group | 1,717 | |||||
253 | * | Virginia Commerce Bancorp | 1,581 | ||||
113 | Washington Banking Co | 1,445 | |||||
1,416 | Washington Federal, Inc | 22,911 | |||||
138 | Washington Trust Bancorp, Inc | 2,352 | |||||
770 | Webster Financial Corp | 13,814 | |||||
58,602 | Wells Fargo & Co | 1,500,211 | |||||
301 | WesBanco, Inc | 5,072 | |||||
189 | West Bancorporation, Inc | 1,287 | |||||
1,128 | * | West Coast Bancorp | 2,876 | ||||
390 | Westamerica Bancorporation | 20,483 | |||||
712 | * | Western Alliance Bancorp | 5,105 | ||||
8,141 | Western Union Co | 121,382 | |||||
366 | Westfield Financial, Inc | 3,049 | |||||
1,210 | Whitney Holding Corp | 11,193 | |||||
1,103 | Wilmington Trust Corp | 12,232 | |||||
167 | Wilshire Bancorp, Inc | 1,461 | |||||
375 | Wintrust Financial Corp | 12,503 | |||||
100 | WSFS Financial Corp | 3,593 | |||||
1,882 | Zions Bancorporation | 40,595 | |||||
TOTAL DEPOSITORY INSTITUTIONS | 10,107,696 | ||||||
EATING AND DRINKING PLACES - 1.2% | |||||||
208 | * | AFC Enterprises | 1,893 | ||||
239 | * | BJ’s Restaurants, Inc | 5,640 | ||||
379 | Bob Evans Farms, Inc | 9,331 | |||||
1,238 | Brinker International, Inc | 17,901 | |||||
218 | * | Buffalo Wild Wings, Inc | 7,974 | ||||
1,103 | Burger King Holdings, Inc | 18,575 | |||||
262 | * | California Pizza Kitchen, Inc | 3,969 | ||||
288 | CBRL Group, Inc | 13,409 | |||||
272 | * | CEC Entertainment, Inc | 9,591 | ||||
746 | * | Cheesecake Factory | 16,606 | ||||
385 | * | Chipotle Mexican Grill, Inc (Class A) | 52,672 | ||||
622 | CKE Restaurants, Inc | 7,794 | |||||
1,656 | Darden Restaurants, Inc | 64,336 | |||||
949 | * | Denny’s Corp | 2,467 | ||||
223 | * | DineEquity, Inc | 6,226 | ||||
405 | * | Domino’s Pizza, Inc | 4,577 | ||||
678 | * | Jack in the Box, Inc | 13,187 |
53
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
587 | * | Krispy Kreme Doughnuts, Inc | $ | 1,978 | |||
148 | * | Landry’s Restaurants, Inc | 3,620 | ||||
188 | * | McCormick & Schmick’s Seafood Restaurants, Inc | 1,402 | ||||
12,956 | McDonald’s Corp | 853,412 | |||||
300 | * | O’Charleys, Inc | 1,590 | ||||
263 | * | Papa John’s International, Inc | 6,081 | ||||
277 | PF Chang’s China Bistro, Inc | 10,983 | |||||
150 | * | Red Robin Gourmet Burgers, Inc | 2,574 | ||||
779 | * | Ruby Tuesday, Inc | 6,622 | ||||
200 | * | Ruth’s Chris Steak House, Inc | 836 | ||||
729 | * | Sonic Corp | 5,650 | ||||
8,974 | Starbucks Corp | 218,068 | |||||
20 | * | Steak N Shake Co | 5,738 | ||||
687 | * | Texas Roadhouse, Inc (Class A) | 8,670 | ||||
3,949 | Wendy’s/Arby’s Group, Inc (Class A) | 15,796 | |||||
5,629 | Yum! Brands, Inc | 219,756 | |||||
TOTAL EATING AND DRINKING PLACES | 1,618,924 | ||||||
EDUCATIONAL SERVICES - 0.2% | |||||||
224 | * | American Public Education, Inc | 9,789 | ||||
1,561 | * | Apollo Group, Inc (Class A) | 66,295 | ||||
146 | * | Archipelago Learning, Inc | 1,669 | ||||
234 | * | Bridgepoint Education, Inc | 3,700 | ||||
812 | * | Career Education Corp | 18,692 | ||||
1,059 | * | Corinthian Colleges, Inc | 10,431 | ||||
751 | DeVry, Inc | 39,420 | |||||
431 | * | Education Management Corp | 6,573 | ||||
374 | * | Grand Canyon Education, Inc | 8,763 | ||||
415 | * | ITT Educational Services, Inc | 34,453 | ||||
310 | * | K12, Inc | 6,876 | ||||
92 | * | Learning Tree International, Inc | 998 | ||||
288 | * | Lincoln Educational Services Corp | 5,930 | ||||
171 | Strayer Education, Inc | 35,549 | |||||
228 | * | Universal Technical Institute, Inc | 5,390 | ||||
TOTAL EDUCATIONAL SERVICES | 254,528 | ||||||
ELECTRIC, GAS, AND SANITARY SERVICES - 4.2% | |||||||
8,046 | * | AES Corp | 74,345 | ||||
939 | AGL Resources, Inc | 33,635 | |||||
2,021 | Allegheny Energy, Inc | 41,794 | |||||
376 | Allete, Inc | 12,874 | |||||
1,335 | Alliant Energy Corp | 42,373 | |||||
2,870 | Ameren Corp | 68,220 | |||||
200 | American Ecology Corp | 2,914 | |||||
5,768 | American Electric Power Co, Inc | 186,306 | |||||
225 | American States Water Co | 7,457 | |||||
1,856 | American Water Works Co, Inc | 38,234 | |||||
1,685 | Aqua America, Inc | 29,791 | |||||
77 | Artesian Resources Corp | 1,421 | |||||
1,066 | Atmos Energy Corp | 28,825 | |||||
658 | Avista Corp | 12,851 | |||||
446 | Black Hills Corp | 12,698 | |||||
385 | California Water Service Group | 13,745 | |||||
4,146 | * | Calpine Corp | 52,737 | ||||
297 | * | Casella Waste Systems, Inc (Class A) | 1,135 | ||||
4,582 | Centerpoint Energy, Inc | 60,299 | |||||
110 | Central Vermont Public Service Corp | 2,171 | |||||
250 | CH Energy Group, Inc | 9,810 | |||||
107 | Chesapeake Utilities Corp | 3,360 | |||||
485 | * | Clean Energy Fuels Corp | 7,246 | ||||
283 | * | Clean Harbors, Inc | 18,794 | ||||
757 | Cleco Corp | 19,992 |
54
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
2,771 | CMS Energy Corp | $ | 40,595 | ||||
98 | Connecticut Water Service, Inc | 2,060 | |||||
3,410 | Consolidated Edison, Inc | 146,971 | |||||
160 | Consolidated Water Co, Inc | 1,821 | |||||
2,226 | Constellation Energy Group, Inc | 71,789 | |||||
1,527 | * | Covanta Holding Corp | 25,333 | ||||
456 | * | Crosstex Energy, Inc | 2,923 | ||||
7,176 | Dominion Resources, Inc | 277,997 | |||||
1,431 | DPL, Inc | 34,201 | |||||
2,029 | DTE Energy Co | 92,543 | |||||
15,814 | Duke Energy Corp | 253,023 | |||||
1,127 | * | Dynegy, Inc (Class A) | 4,339 | ||||
3,925 | Edison International | 124,501 | |||||
8,557 | El Paso Corp | 95,068 | |||||
600 | * | El Paso Electric Co | 11,610 | ||||
648 | Empire District Electric Co | 12,163 | |||||
866 | Energen Corp | 38,390 | |||||
904 | EnergySolutions, Inc | 4,601 | |||||
236 | * | EnerNOC, Inc | 7,420 | ||||
2,280 | Entergy Corp | 163,294 | |||||
7,956 | Exelon Corp | 302,088 | |||||
3,670 | FirstEnergy Corp | 129,294 | |||||
4,993 | FPL Group, Inc | 243,458 | |||||
1,633 | Great Plains Energy, Inc | 27,794 | |||||
1,196 | Hawaiian Electric Industries, Inc | 27,245 | |||||
604 | Idacorp, Inc | 20,095 | |||||
926 | Integrys Energy Group, Inc | 40,503 | |||||
605 | ITC Holdings Corp | 32,011 | |||||
250 | Laclede Group, Inc | 8,283 | |||||
2,209 | MDU Resources Group, Inc | 39,828 | |||||
287 | MGE Energy, Inc | 10,343 | |||||
155 | Middlesex Water Co | 2,457 | |||||
1,738 | * | Mirant Corp | 18,353 | ||||
864 | National Fuel Gas Co | 39,640 | |||||
495 | New Jersey Resources Corp | 17,424 | |||||
545 | Nicor, Inc | 22,073 | |||||
3,108 | NiSource, Inc | 45,066 | |||||
2,119 | Northeast Utilities | 53,992 | |||||
333 | Northwest Natural Gas Co | 14,509 | |||||
435 | NorthWestern Corp | 11,397 | |||||
3,121 | * | NRG Energy, Inc | 66,196 | ||||
1,328 | NSTAR | 46,480 | |||||
2,662 | NV Energy, Inc | 31,438 | |||||
1,121 | OGE Energy Corp | 40,984 | |||||
1,273 | Oneok, Inc | 55,057 | |||||
240 | Ormat Technologies, Inc | 6,790 | |||||
540 | Otter Tail Corp | 10,438 | |||||
2,652 | Pepco Holdings, Inc | 41,583 | |||||
4,484 | PG&E Corp | 184,292 | |||||
272 | * | Pico Holdings, Inc | 8,152 | ||||
866 | Piedmont Natural Gas Co, Inc | 21,910 | |||||
200 | * | Pike Electric Corp | 1,884 | ||||
1,246 | Pinnacle West Capital Corp | 45,305 | |||||
1,049 | PNM Resources, Inc | 11,728 | |||||
906 | Portland General Electric Co | 16,607 | |||||
4,562 | PPL Corp | 113,822 | |||||
3,457 | Progress Energy, Inc | 135,584 | |||||
6,091 | Public Service Enterprise Group, Inc | 190,831 | |||||
2,092 | Questar Corp | 95,165 | |||||
4,240 | * | Reliant Energy, Inc | 16,070 | ||||
3,913 | Republic Services, Inc | 116,333 | |||||
1,360 | SCANA Corp | 48,634 | |||||
2,983 | Sempra Energy | 139,575 | |||||
138 | SJW Corp | 3,235 |
55
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
377 | South Jersey Industries, Inc | $ | 16,196 | ||||
9,931 | Southern Co | 330,503 | |||||
1,467 | Southern Union Co | 32,069 | |||||
542 | Southwest Gas Corp | 15,989 | |||||
303 | Southwest Water Co | 3,175 | |||||
1,020 | * | Stericycle, Inc | 66,892 | ||||
2,445 | TECO Energy, Inc | 36,846 | |||||
1,315 | UGI Corp | 33,454 | |||||
353 | UIL Holdings Corp | 8,836 | |||||
432 | Unisource Energy Corp | 13,038 | |||||
126 | Unitil Corp | 2,635 | |||||
980 | Vectren Corp | 23,187 | |||||
953 | * | Waste Connections, Inc | 33,250 | ||||
5,818 | Waste Management, Inc | 182,045 | |||||
321 | *,m | Waste Services, Inc | 3,743 | ||||
1,310 | Westar Energy, Inc | 28,309 | |||||
625 | WGL Holdings, Inc | 21,269 | |||||
7,036 | Williams Cos, Inc | 128,618 | |||||
1,408 | Wisconsin Energy Corp | 71,442 | |||||
5,535 | Xcel Energy, Inc | 114,076 | |||||
142 | York Water Co | 2,016 | |||||
TOTAL ELECTRIC, GAS, AND SANITARY SERVICES | 5,915,203 | ||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 8.4% | |||||||
876 | * | A123 Systems, Inc | 8,261 | ||||
529 | * | Acme Packet, Inc | 14,220 | ||||
313 | * | Actel Corp | 4,013 | ||||
523 | Acuity Brands, Inc | 19,027 | |||||
1,457 | * | Adaptec, Inc | 4,211 | ||||
1,296 | * | ADC Telecommunications, Inc | 9,603 | ||||
395 | * | Advanced Analogic Technologies, Inc | 1,260 | ||||
1,146 | * | Advanced Battery Technologies, Inc | 3,759 | ||||
504 | * | Advanced Energy Industries, Inc | 6,194 | ||||
7,126 | * | Advanced Micro Devices, Inc | 52,162 | ||||
3,633 | Altera Corp | 90,135 | |||||
544 | * | American Superconductor Corp | 14,519 | ||||
1,295 | Ametek, Inc | 51,994 | |||||
1,245 | * | Amkor Technology, Inc | 6,860 | ||||
2,092 | Amphenol Corp (Class A) | 82,174 | |||||
891 | * | Anadigics, Inc | 3,885 | ||||
3,589 | Analog Devices, Inc | 99,990 | |||||
10,958 | * | Apple Computer, Inc | 2,756,266 | ||||
891 | * | Applied Micro Circuits Corp | 9,338 | ||||
144 | Applied Signal Technology, Inc | 2,830 | |||||
1,549 | * | Arris Group, Inc | 15,784 | ||||
841 | * | Atheros Communications, Inc | 23,161 | ||||
5,300 | * | Atmel Corp | 25,440 | ||||
395 | * | ATMI, Inc | 5,783 | ||||
1,280 | * | Avago Technologies Ltd | 26,957 | ||||
1,830 | * | Avnet, Inc | 44,121 | ||||
583 | AVX Corp | 7,474 | |||||
373 | * | AXT, Inc | 1,682 | ||||
129 | AZZ, Inc | 4,743 | |||||
542 | Baldor Electric Co | 19,555 | |||||
100 | Bel Fuse, Inc (Class B) | 1,651 | |||||
750 | * | Benchmark Electronics, Inc | 11,888 | ||||
386 | * | BigBand Networks, Inc | 1,166 | ||||
592 | * | Bookham, Inc | 6,565 | ||||
5,979 | Broadcom Corp (Class A) | 197,128 | |||||
2,895 | * | Capstone Turbine Corp | 2,837 | ||||
321 | * | Ceradyne, Inc | 6,860 | ||||
234 | * | Ceva, Inc | 2,948 | ||||
500 | * | Checkpoint Systems, Inc | 8,680 |
56
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
1,099 | * | Ciena Corp | $ | 13,935 | |||
68,777 | * | Cisco Systems, Inc | 1,465,638 | ||||
1,138 | * | CommScope, Inc | 27,050 | ||||
330 | * | Comtech Telecommunications Corp | 9,877 | ||||
955 | * | Conexant Systems, Inc | 2,139 | ||||
2,017 | Cooper Industries plc | 88,748 | |||||
94 | * | CPI International, Inc | 1,465 | ||||
1,286 | * | Cree, Inc | 77,199 | ||||
409 | CTS Corp | 3,779 | |||||
170 | Cubic Corp | 6,185 | |||||
1,971 | * | Cypress Semiconductor Corp | 19,789 | ||||
160 | DDi Corp | 1,205 | |||||
20,497 | * | Dell, Inc | 247,194 | ||||
395 | * | Diodes, Inc | 6,269 | ||||
633 | * | Dolby Laboratories, Inc (Class A) | 39,683 | ||||
289 | * | DSP Group, Inc | 1,847 | ||||
179 | * | DTS, Inc | 5,884 | ||||
485 | * | EchoStar Corp (Class A) | 9,254 | ||||
300 | * | Electro Scientific Industries, Inc | 4,008 | ||||
161 | * | EMS Technologies, Inc | 2,418 | ||||
809 | * | Energizer Holdings, Inc | 40,677 | ||||
585 | * | Energy Conversion Devices, Inc | 2,399 | ||||
579 | * | EnerSys | 12,373 | ||||
903 | * | Entropic Communications, Inc | 5,725 | ||||
2,598 | * | Evergreen Solar, Inc | 1,772 | ||||
520 | * | Exar Corp | 3,604 | ||||
816 | * | Exide Technologies | 4,243 | ||||
1,414 | * | Fairchild Semiconductor International, Inc | 11,892 | ||||
908 | * | Finisar Corp | 13,529 | ||||
668 | * | First Solar, Inc | 76,038 | ||||
277 | Franklin Electric Co, Inc | 7,983 | |||||
383 | * | FSI International, Inc | 1,605 | ||||
1,210 | * | �� | FuelCell Energy, Inc | 1,428 | |||
233 | * | Generac Holdings, Inc | 3,264 | ||||
228 | * | Globecomm Systems, Inc | 1,881 | ||||
191 | * | GP Strategies Corp | 1,387 | ||||
1,560 | * | GrafTech International Ltd | 22,807 | ||||
269 | * | Greatbatch, Inc | 6,001 | ||||
234 | * | GSI Technology, Inc | 1,338 | ||||
760 | * | GT Solar International, Inc | 4,256 | ||||
852 | * | Harman International Industries, Inc | 25,466 | ||||
1,150 | * | Harmonic, Inc | 6,256 | ||||
1,563 | Harris Corp | 65,099 | |||||
670 | * | Harris Stratex Networks, Inc (Class A) | 2,432 | ||||
334 | * | Helen of Troy Ltd | 7,368 | ||||
28,241 | Hewlett-Packard Co | 1,222,270 | |||||
1,161 | * | Hexcel Corp | 18,007 | ||||
319 | * | Hittite Microwave Corp | 14,272 | ||||
285 | * | Hutchinson Technology, Inc | 1,234 | ||||
400 | * | Imation Corp | 3,676 | ||||
1,220 | * | Infinera Corp | 7,845 | ||||
1,945 | * | Integrated Device Technology, Inc | 9,628 | ||||
306 | * | Integrated Silicon Solution, Inc | 2,307 | ||||
67,004 | Intel Corp | 1,303,228 | |||||
564 | * | InterDigital, Inc | 13,925 | ||||
853 | * | International Rectifier Corp | 15,874 | ||||
1,411 | Intersil Corp (Class A) | 17,087 | |||||
314 | * | IPG Photonics Corp | 4,782 | ||||
406 | * | Iridium Communications, Inc | 4,076 | ||||
231 | * | iRobot Corp | 4,340 | ||||
257 | * | IXYS Corp | 2,272 | ||||
2,562 | * | JDS Uniphase Corp | 25,210 | ||||
239 | * | KIT Digital, Inc | 2,108 | ||||
1,407 | L-3 Communications Holdings, Inc | 99,672 |
57
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
1,300 | * | Lattice Semiconductor Corp | $ | 5,642 | |||
513 | Lincoln Electric Holdings, Inc | 26,158 | |||||
2,683 | Linear Technology Corp | 74,614 | |||||
261 | * | Littelfuse, Inc | 8,250 | ||||
124 | * | Loral Space & Communications, Inc | 5,297 | ||||
131 | LSI Industries, Inc | 639 | |||||
7,838 | * | LSI Logic Corp | 36,055 | ||||
6,444 | * | Marvell Technology Group Ltd | 101,557 | ||||
609 | * | Mattson Technology, Inc | 2,308 | ||||
3,678 | Maxim Integrated Products, Inc | 61,533 | |||||
87 | * | MaxLinear, Inc | 1,216 | ||||
315 | * | Maxwell Technologies, Inc | 3,591 | ||||
2,748 | * | MEMC Electronic Materials, Inc | 27,150 | ||||
223 | * | Mercury Computer Systems, Inc | 2,616 | ||||
447 | Methode Electronics, Inc | 4,354 | |||||
797 | Micrel, Inc | 8,113 | |||||
2,218 | Microchip Technology, Inc | 61,527 | |||||
10,253 | * | Micron Technology, Inc | 87,048 | ||||
1,063 | * | Microsemi Corp | 15,552 | ||||
1,000 | * | Microtune, Inc | 2,130 | ||||
1,076 | * | Microvision, Inc | 3,185 | ||||
378 | * | Mindspeed Technologies, Inc | 2,831 | ||||
436 | * | MIPS Technologies, Inc | 2,228 | ||||
1,592 | Molex, Inc | 29,038 | |||||
407 | * | Monolithic Power Systems, Inc | 7,269 | ||||
548 | * | Moog, Inc (Class A) | 17,662 | ||||
316 | * | MoSys, Inc | 1,397 | ||||
27,991 | * | Motorola, Inc | 182,501 | ||||
160 | * | Multi-Fineline Electronix, Inc | 3,994 | ||||
58 | National Presto Industries, Inc | 5,386 | |||||
2,758 | National Semiconductor Corp | 37,123 | |||||
4,151 | * | NetApp, Inc | 154,874 | ||||
753 | * | Netlogic Microsystems, Inc | 20,482 | ||||
1,139 | * | Novellus Systems, Inc | 28,885 | ||||
55 | * | NVE Corp | 2,394 | ||||
6,799 | * | Nvidia Corp | 69,418 | ||||
634 | * | Omnivision Technologies, Inc | 13,593 | ||||
4,849 | * | ON Semiconductor Corp | 30,937 | ||||
1,006 | * | Openwave Systems, Inc | 2,042 | ||||
252 | * | Oplink Communications, Inc | 3,611 | ||||
205 | * | OpNext, Inc | 338 | ||||
185 | * | OSI Systems, Inc | 5,137 | ||||
232 | Park Electrochemical Corp | 5,663 | |||||
304 | * | Pericom Semiconductor Corp | 2,918 | ||||
666 | * | Photronics, Inc | 3,010 | ||||
554 | Plantronics, Inc | 15,844 | |||||
511 | * | Plexus Corp | 13,664 | ||||
410 | * | PLX Technology, Inc | 1,718 | ||||
2,763 | * | PMC - Sierra, Inc | 20,778 | ||||
1,022 | * | Polycom, Inc | 30,445 | ||||
314 | * | Polypore International, Inc | 7,140 | ||||
94 | * | Powell Industries, Inc | 2,570 | ||||
297 | Power Integrations, Inc | 9,562 | |||||
851 | * | Power-One, Inc | 5,744 | ||||
1,294 | * | Powerwave Technologies, Inc | 1,993 | ||||
1,437 | * | QLogic Corp | 23,883 | ||||
19,769 | Qualcomm, Inc | 649,214 | |||||
1,317 | * | Rambus, Inc | 23,074 | ||||
192 | Raven Industries, Inc | 6,472 | |||||
464 | Regal-Beloit Corp | 25,882 | |||||
3,137 | * | RF Micro Devices, Inc | 12,266 | ||||
181 | Richardson Electronics Ltd | 1,629 | |||||
200 | * | Rogers Corp | 5,554 | ||||
149 | * | Rubicon Technology, Inc | 4,439 |
58
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
2,765 | * | SanDisk Corp | $ | 116,324 | |||
958 | * | Sanmina-SCI Corp | 13,038 | ||||
611 | * | SatCon Technology Corp | 1,747 | ||||
334 | * | Seachange International, Inc | 2,749 | ||||
936 | * | Semtech Corp | 15,322 | ||||
495 | * | ShoreTel, Inc | 2,297 | ||||
1,131 | * | Silicon Image, Inc | 3,970 | ||||
555 | * | Silicon Laboratories, Inc | 22,511 | ||||
46,778 | * | Sirius XM Radio, Inc | 44,416 | ||||
2,126 | * | Skyworks Solutions, Inc | 35,696 | ||||
549 | * | Smart Modular Technologies WWH, Inc | 3,212 | ||||
155 | * | Spansion, Inc | 2,528 | ||||
217 | * | Spectrum Brands, Inc | 5,503 | ||||
153 | * | Spectrum Control, Inc | 2,139 | ||||
300 | * | Standard Microsystems Corp | 6,984 | ||||
173 | * | Stoneridge, Inc | 1,313 | ||||
1,166 | * | Sunpower Corp (Class A) | 14,109 | ||||
100 | * | Supertex, Inc | 2,466 | ||||
234 | Sycamore Networks, Inc | 3,889 | |||||
396 | * | Symmetricom, Inc | 2,016 | ||||
424 | * | Synaptics, Inc | 11,660 | ||||
579 | Technitrol, Inc | 1,830 | |||||
806 | * | Tekelec | 10,671 | ||||
484 | Teleflex, Inc | 26,272 | |||||
4,811 | Tellabs, Inc | 30,742 | |||||
605 | * | Tessera Technologies, Inc | 9,710 | ||||
14,717 | Texas Instruments, Inc | 342,612 | |||||
645 | * | Thomas & Betts Corp | 22,382 | ||||
598 | * | Trident Microsystems, Inc | 849 | ||||
1,986 | * | Triquint Semiconductor, Inc | 12,134 | ||||
971 | * | TTM Technologies, Inc | 9,225 | ||||
267 | * | Ultra Clean Holdings | 2,275 | ||||
364 | * | Universal Display Corp | 6,545 | ||||
166 | * | Universal Electronics, Inc | 2,761 | ||||
443 | * | UQM Technologies, Inc | 1,502 | ||||
1,960 | * | Utstarcom, Inc | 3,606 | ||||
881 | * | Varian Semiconductor Equipment Associates, Inc | 25,249 | ||||
399 | * | Viasat, Inc | 12,991 | ||||
200 | * | Vicor Corp | 2,498 | ||||
274 | * | Virage Logic Corp | 3,258 | ||||
2,260 | * | Vishay Intertechnology, Inc | 17,492 | ||||
288 | * | Volterra Semiconductor Corp | 6,641 | ||||
905 | Whirlpool Corp | 79,477 | |||||
3,331 | Xilinx, Inc | 84,141 | |||||
743 | * | Zix Corp | 1,679 | ||||
350 | * | Zoltek Cos, Inc | 2,965 | ||||
619 | * | Zoran Corp | 5,905 | ||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 11,863,764 | ||||||
ENGINEERING AND MANAGEMENT SERVICES - 0.9% | |||||||
319 | * | Accelrys, Inc | 2,058 | ||||
7,363 | Accenture plc | 284,581 | |||||
143 | * | Accretive Health, Inc | 1,892 | ||||
188 | * | Advisory Board Co | 8,076 | ||||
1,142 | * | Aecom Technology Corp | 26,335 | ||||
166 | * | Affymax, Inc | 993 | ||||
1,697 | * | Amylin Pharmaceuticals, Inc | 31,904 | ||||
1,355 | * | Ariad Pharmaceuticals, Inc | 3,821 | ||||
100 | CDI Corp | 1,553 | |||||
906 | * | Celera Corp | 5,934 | ||||
276 | * | comScore, Inc | 4,546 | ||||
269 | Core Laboratories NV | 39,707 | |||||
117 | * | Cornell Cos, Inc | 3,144 | ||||
387 | Corporate Executive Board Co | 10,166 |
59
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
167 | * | CRA International, Inc | $ | 3,145 | |||
303 | Diamond Management & Technology Consultants, Inc | 3,124 | |||||
1,197 | * | Dyax Corp | 2,717 | ||||
723 | * | eResearch Technology, Inc | 5,697 | ||||
422 | * | Exact Sciences Corp | 1,857 | ||||
1,296 | * | Exelixis, Inc | 4,497 | ||||
172 | * | Exponent, Inc | 5,628 | ||||
2,152 | Fluor Corp | 91,460 | |||||
148 | * | Franklin Covey Co | 962 | ||||
408 | * | Furmanite Corp | 1,620 | ||||
794 | * | Genpact Ltd | 12,331 | ||||
645 | * | Gen-Probe, Inc | 29,296 | ||||
1,062 | * | Hewitt Associates, Inc (Class A) | 36,597 | ||||
270 | * | Hill International, Inc | 1,096 | ||||
279 | * | Huron Consulting Group, Inc | 5,415 | ||||
209 | * | ICF International, Inc | 5,001 | ||||
1,128 | * | Incyte Corp | 12,487 | ||||
224 | * | Infinity Pharmaceuticals, Inc | 1,324 | ||||
1,170 | * | Isis Pharmaceuticals, Inc | 11,197 | ||||
1,484 | * | Jacobs Engineering Group, Inc | 54,077 | ||||
1,971 | KBR, Inc | 40,090 | |||||
135 | * | Kendle International, Inc | 1,555 | ||||
174 | Landauer, Inc | 10,593 | |||||
2,404 | * | Lexicon Pharmaceuticals, Inc | 3,077 | ||||
588 | * | Luminex Corp | 9,537 | ||||
241 | MAXIMUS, Inc | 13,947 | |||||
317 | * | Maxygen, Inc | 1,753 | ||||
2,762 | * | McDermott International, Inc | 59,825 | ||||
140 | MedQuist, Inc | 1,107 | |||||
80 | * | Michael Baker Corp | 2,792 | ||||
172 | * | Mistras Group, Inc | 1,844 | ||||
1,132 | * | Myriad Genetics, Inc | 16,923 | ||||
631 | * | Navigant Consulting, Inc | 6,550 | ||||
387 | * | Omnicell, Inc | 4,524 | ||||
3,887 | Paychex, Inc | 100,946 | |||||
764 | * | Regeneron Pharmaceuticals, Inc | 17,052 | ||||
2,606 | * | Rentech, Inc | 2,580 | ||||
514 | * | Resources Connection, Inc | 6,990 | ||||
517 | * | Rigel Pharmaceuticals, Inc | 3,722 | ||||
611 | * | RTI Biologics, Inc | 1,790 | ||||
3,725 | * | SAIC, Inc | 62,357 | ||||
410 | * | Sangamo Biosciences, Inc | 1,521 | ||||
739 | * | Savient Pharmaceuticals, Inc | 9,311 | ||||
479 | * | Senomyx, Inc | 1,815 | ||||
805 | * | Sequenom, Inc | 4,758 | ||||
1,022 | * | Shaw Group, Inc | 34,973 | ||||
137 | * | Stanley, Inc | 5,121 | ||||
299 | *,m | Symyx Technologies, Inc | 1,498 | ||||
156 | * | Tejon Ranch Co | 3,600 | ||||
728 | * | Tetra Tech, Inc | 14,276 | ||||
512 | Towers Watson & Co | 19,891 | |||||
76 | * | Transcend Services, Inc | 1,026 | ||||
1,020 | * | URS Corp | 40,137 | ||||
48 | VSE Corp | 1,527 | |||||
TOTAL ENGINEERING AND MANAGEMENT SERVICES | 1,223,246 | ||||||
FABRICATED METAL PRODUCTS - 0.6% | |||||||
434 | * | Alliant Techsystems, Inc | 26,934 | ||||
105 | Ameron International Corp | 6,335 | |||||
816 | Aptargroup, Inc | 30,861 | |||||
1,111 | Ball Corp | 58,694 | |||||
405 | * | Chart Industries, Inc | 6,310 | ||||
170 | CIRCOR International, Inc | 4,349 |
60
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
1,329 | Commercial Metals Co | $ | 17,569 | ||||
301 | * | Commercial Vehicle Group, Inc | 3,073 | ||||
593 | Crane Co | 17,915 | |||||
1,947 | * | Crown Holdings, Inc | 48,753 | ||||
270 | Dynamic Materials Corp | 4,331 | |||||
686 | * | Griffon Corp | 7,587 | ||||
190 | Gulf Island Fabrication, Inc | 2,949 | |||||
69 | * | Hawk Corp | 1,756 | ||||
5,306 | Illinois Tool Works, Inc | 219,033 | |||||
155 | Insteel Industries, Inc | 1,801 | |||||
153 | * | Ladish Co, Inc | 3,476 | ||||
112 | * | Lifetime Brands, Inc | 1,637 | ||||
400 | * | Mobile Mini, Inc | 6,512 | ||||
2,364 | Mueller Water Products, Inc (Class A) | 8,770 | |||||
222 | * | NCI Building Systems, Inc | 1,858 | ||||
158 | * | North American Galvanizing & Coating, Inc | 1,212 | ||||
1,937 | Parker Hannifin Corp | 107,426 | |||||
96 | * | Park-Ohio Holdings Corp | 1,381 | ||||
1,158 | Pentair, Inc | 37,288 | |||||
450 | Quanex Building Products Corp | 7,781 | |||||
650 | Silgan Holdings, Inc | 18,447 | |||||
459 | Simpson Manufacturing Co, Inc | 11,268 | |||||
635 | * | Smith & Wesson Holding Corp | 2,597 | ||||
694 | Snap-On, Inc | 28,392 | |||||
1,944 | Stanley Works | 98,211 | |||||
228 | Sturm Ruger & Co, Inc | 3,267 | |||||
122 | Sun Hydraulics Corp | 2,862 | |||||
812 | * | Taser International, Inc | 3,167 | ||||
198 | * | Trimas Corp | 2,239 | ||||
255 | Valmont Industries, Inc | 18,528 | |||||
341 | Watts Water Technologies, Inc (Class A) | 9,773 | |||||
TOTAL FABRICATED METAL PRODUCTS | 834,342 | ||||||
FOOD AND KINDRED PRODUCTS - 3.9% | |||||||
255 | * | American Italian Pasta Co | 13,482 | ||||
7,745 | Archer Daniels Midland Co | 199,976 | |||||
571 | B&G Foods, Inc (Class A) | 6,155 | |||||
100 | * | Boston Beer Co, Inc (Class A) | 6,745 | ||||
1,735 | Bunge Ltd | 85,345 | |||||
2,213 | Campbell Soup Co | 79,292 | |||||
798 | * | Central Garden and Pet Co (Class A) | 7,158 | ||||
77 | Coca-Cola Bottling Co Consolidated | 3,690 | |||||
25,367 | Coca-Cola Co | 1,271,393 | |||||
3,839 | Coca-Cola Enterprises, Inc | 99,277 | |||||
5,364 | ConAgra Foods, Inc | 125,088 | |||||
2,181 | * | Constellation Brands, Inc (Class A) | 34,067 | ||||
902 | Corn Products International, Inc | 27,331 | |||||
878 | * | Darling International, Inc | 6,594 | ||||
2,171 | * | Dean Foods Co | 21,862 | ||||
2,385 | Del Monte Foods Co | 34,320 | |||||
262 | Diamond Foods, Inc | 10,768 | |||||
2,959 | Dr Pepper Snapple Group, Inc | 110,637 | |||||
200 | Farmer Bros Co | 3,018 | |||||
947 | Flowers Foods, Inc | 23,135 | |||||
7,991 | General Mills, Inc | 283,840 | |||||
3,808 | H.J. Heinz Co | 164,582 | |||||
826 | * | Hansen Natural Corp | 32,305 | ||||
1,853 | Hershey Co | 88,814 | |||||
845 | Hormel Foods Corp | 34,206 | |||||
125 | Imperial Sugar Co | 1,263 | |||||
192 | J&J Snack Foods Corp | 8,083 | |||||
1,435 | J.M. Smucker Co | 86,416 | |||||
92 | * | John B. Sanfilippo & Son, Inc | 1,331 | ||||
3,103 | Kellogg Co | 156,081 |
61
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
19,316 | Kraft Foods, Inc (Class A) | $ | 540,848 | ||||
293 | Lancaster Colony Corp | 15,634 | |||||
400 | Lance, Inc | 6,596 | |||||
107 | * | M&F Worldwide Corp | 2,900 | ||||
1,604 | McCormick & Co, Inc | 60,888 | |||||
2,462 | Mead Johnson Nutrition Co | 123,395 | |||||
1,586 | Molson Coors Brewing Co (Class B) | 67,183 | |||||
129 | National Beverage Corp | 1,584 | |||||
149 | * | Peet’s Coffee & Tea, Inc | 5,851 | ||||
19,423 | PepsiCo, Inc | 1,183,832 | |||||
661 | * | Ralcorp Holdings, Inc | 36,223 | ||||
2,023 | Reynolds American, Inc | 105,439 | |||||
272 | Sanderson Farms, Inc | 13,801 | |||||
7,959 | Sara Lee Corp | 112,222 | |||||
77 | * | Seneca Foods Corp | 2,484 | ||||
718 | * | Smart Balance, Inc | 2,937 | ||||
1,571 | * | Smithfield Foods, Inc | 23,408 | ||||
379 | Tootsie Roll Industries, Inc | 8,963 | |||||
417 | * | TreeHouse Foods, Inc | 19,040 | ||||
3,645 | Tyson Foods, Inc (Class A) | 59,742 | |||||
TOTAL FOOD AND KINDRED PRODUCTS | 5,419,224 | ||||||
FOOD STORES - 0.3% | |||||||
15 | Arden Group, Inc (Class A) | 1,318 | |||||
433 | * | Dole Food Co, Inc | 4,516 | ||||
403 | * | Great Atlantic & Pacific Tea Co, Inc | 1,572 | ||||
100 | Ingles Markets, Inc (Class A) | 1,505 | |||||
7,763 | Kroger Co | 152,854 | |||||
360 | * | Panera Bread Co (Class A) | 27,104 | ||||
248 | * | Pantry, Inc | 3,499 | ||||
520 | Ruddick Corp | 16,115 | |||||
4,677 | Safeway, Inc | 91,951 | |||||
2,554 | Supervalu, Inc | 27,685 | |||||
91 | * | Susser Holdings Corp | 1,073 | ||||
77 | Village Super Market (Class A) | 2,021 | |||||
133 | Weis Markets, Inc | 4,377 | |||||
1,659 | * | Whole Foods Market, Inc | 59,757 | ||||
610 | * | Winn-Dixie Stores, Inc | 5,880 | ||||
TOTAL FOOD STORES | 401,227 | ||||||
FORESTRY - 0.1% | |||||||
964 | Rayonier, Inc | 42,435 | |||||
2,549 | Weyerhaeuser Co | 89,725 | |||||
TOTAL FORESTRY | 132,160 | ||||||
FURNITURE AND FIXTURES - 0.2% | |||||||
111 | * | Astronics Corp | 1,816 | ||||
279 | Ethan Allen Interiors, Inc | 3,903 | |||||
642 | * | Furniture Brands International, Inc | 3,351 | ||||
700 | Herman Miller, Inc | 13,209 | |||||
759 | Hill-Rom Holdings, Inc | 23,096 | |||||
567 | HNI Corp | 15,644 | |||||
64 | Hooker Furniture Corp | 682 | |||||
300 | Kimball International, Inc (Class B) | 1,659 | |||||
744 | * | Kinetic Concepts, Inc | 27,163 | ||||
628 | * | La-Z-Boy, Inc | 4,666 | ||||
1,780 | Leggett & Platt, Inc | 35,707 | |||||
4,339 | Masco Corp | 46,688 |
62
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
1,213 | * | Sealy Corp | $ | 3,239 | |||
660 | * | Select Comfort Corp | 5,775 | ||||
838 | Steelcase, Inc (Class A) | 6,495 | |||||
875 | * | Tempur-Pedic International, Inc | 26,906 | ||||
TOTAL FURNITURE AND FIXTURES | 219,999 | ||||||
FURNITURE AND HOME FURNISHINGS STORES - 0.2% | |||||||
3,170 | * | Bed Bath & Beyond, Inc | 117,545 | ||||
381 | * | Bell Microproducts, Inc | 2,659 | ||||
1,843 | * | GameStop Corp (Class A) | 34,630 | ||||
166 | Haverty Furniture Cos, Inc | 2,040 | |||||
176 | * | hhgregg, Inc | 4,104 | ||||
546 | Knoll, Inc | 7,256 | |||||
1,378 | * | Pier 1 Imports, Inc | 8,833 | ||||
1,485 | RadioShack Corp | 28,972 | |||||
92 | * | Rex Stores Corp | 1,472 | ||||
228 | * | Tuesday Morning Corp | 910 | ||||
1,135 | Williams-Sonoma, Inc | 28,171 | |||||
TOTAL FURNITURE AND HOME FURNISHINGS STORES | 236,592 | ||||||
GENERAL BUILDING CONTRACTORS - 0.2% | |||||||
110 | * | Avatar Holdings, Inc | 2,110 | ||||
1,108 | * | Beazer Homes USA, Inc | 4,022 | ||||
139 | * | Brookfield Homes Corp | 937 | ||||
72 | * | Cavco Industries, Inc | 2,533 | ||||
3,350 | DR Horton, Inc | 32,931 | |||||
988 | * | Hovnanian Enterprises, Inc (Class A) | 3,636 | ||||
919 | KB Home | 10,109 | |||||
1,951 | Lennar Corp (Class A) | 27,138 | |||||
385 | * | M/I Homes, Inc | 3,711 | ||||
274 | McGrath RentCorp | 6,242 | |||||
441 | MDC Holdings, Inc | 11,885 | |||||
377 | * | Meritage Homes Corp | 6,138 | ||||
74 | * | NVR, Inc | 48,471 | ||||
313 | * | Perini Corp | 5,158 | ||||
4,066 | * | Pulte Homes, Inc | 33,666 | ||||
506 | Ryland Group, Inc | 8,005 | |||||
1,250 | * | Standard-Pacific Corp | 4,163 | ||||
390 | * | Team, Inc | 5,090 | ||||
1,740 | * | Toll Brothers, Inc | 28,466 | ||||
TOTAL GENERAL BUILDING CONTRACTORS | 244,411 | ||||||
GENERAL MERCHANDISE STORES - 1.6% | |||||||
521 | * | 99 Cents Only Stores | 7,711 | ||||
961 | * | Big Lots, Inc | 30,838 | ||||
650 | * | BJ’s Wholesale Club, Inc | 24,057 | ||||
142 | * | Bon-Ton Stores, Inc/the | 1,385 | ||||
615 | Casey’s General Stores, Inc | 21,464 | |||||
100 | * | Conn’s, Inc | 588 | ||||
5,305 | Costco Wholesale Corp | 290,873 | |||||
550 | Dillard’s, Inc (Class A) | 11,825 | |||||
804 | * | Dollar General Corp | 22,150 | ||||
1,628 | Family Dollar Stores, Inc | 61,359 | |||||
480 | Fred’s, Inc (Class A) | 5,309 | |||||
2,824 | JC Penney Co, Inc | 60,660 | |||||
5,081 | Macy’s, Inc | 90,950 |
63
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
298 | * | Retail Ventures, Inc | $ | 2,330 | |||
1,641 | * | Saks, Inc | 12,455 | ||||
546 | * | Sears Holdings Corp | 35,299 | ||||
200 | * | Stein Mart, Inc | 1,246 | ||||
8,868 | Target Corp | 436,040 | |||||
24,574 | Wal-Mart Stores, Inc | 1,181,271 | |||||
TOTAL GENERAL MERCHANDISE STORES | 2,297,810 | ||||||
HEALTH SERVICES - 1.3% | |||||||
312 | * | Alliance Imaging, Inc | 1,260 | ||||
544 | * | Allied Healthcare International, Inc | 1,262 | ||||
72 | * | Almost Family, Inc | 2,515 | ||||
341 | * | Amedisys, Inc | 14,994 | ||||
101 | America Service Group, Inc | 1,737 | |||||
155 | * | American Dental Partners, Inc | 1,877 | ||||
3,400 | AmerisourceBergen Corp | 107,950 | |||||
451 | * | Amsurg Corp | 8,037 | ||||
132 | * | Assisted Living Concepts, Inc (A Shares) | 3,906 | ||||
412 | * | Bio-Reference Labs, Inc | 9,134 | ||||
1,034 | * | Brookdale Senior Living, Inc | 15,510 | ||||
1,105 | * | Community Health Systems, Inc | 37,360 | ||||
370 | * | Continucare Corp | 1,240 | ||||
90 | * | Corvel Corp | 3,041 | ||||
772 | * | Covance, Inc | 39,619 | ||||
1,774 | * | Coventry Health Care, Inc | 31,364 | ||||
296 | * | Cross Country Healthcare, Inc | 2,661 | ||||
253 | * | CryoLife, Inc | 1,364 | ||||
1,251 | * | DaVita, Inc | 78,112 | ||||
280 | * | eHealth, Inc | 3,184 | ||||
280 | * | Emeritus Corp | 4,567 | ||||
270 | Ensign Group, Inc | 4,460 | |||||
242 | * | Enzo Biochem, Inc | 985 | ||||
6,600 | * | Express Scripts, Inc | 310,331 | ||||
374 | * | Five Star Quality Care, Inc | 1,129 | ||||
270 | * | Genomic Health, Inc | 3,491 | ||||
245 | * | Genoptix, Inc | 4,214 | ||||
376 | * | Gentiva Health Services, Inc | 10,156 | ||||
295 | * | Health Grades, Inc | 1,770 | ||||
3,008 | * | Health Management Associates, Inc (Class A) | 23,372 | ||||
1,191 | * | Healthsouth Corp | 22,284 | ||||
402 | * | Healthways, Inc | 4,792 | ||||
1,809 | * | Immunomedics, Inc | 5,590 | ||||
220 | * | IPC The Hospitalist Co, Inc | 5,522 | ||||
472 | * | Kindred Healthcare, Inc | 6,060 | ||||
1,257 | * | Laboratory Corp of America Holdings | 94,715 | ||||
213 | * | LCA-Vision, Inc | 1,180 | ||||
267 | * | LHC Group, Inc | 7,409 | ||||
634 | * | LifePoint Hospitals, Inc | 19,908 | ||||
1,219 | * | Lincare Holdings, Inc | 39,630 | ||||
430 | * | Magellan Health Services, Inc | 15,618 | ||||
3,268 | McKesson Corp | 219,479 | |||||
164 | * | Medcath Corp | 1,289 | ||||
5,503 | * | Medco Health Solutions, Inc | 303,105 | ||||
100 | National Healthcare Corp | 3,446 | |||||
1,110 | * | Nektar Therapeutics | 13,431 | ||||
405 | * | Odyssey HealthCare, Inc | 10,822 | ||||
1,451 | Omnicare, Inc | 34,389 | |||||
538 | * | Pediatrix Medical Group, Inc | 29,918 | ||||
1,248 | Pharmaceutical Product Development, Inc | 31,712 | |||||
678 | * | Psychiatric Solutions, Inc | 22,184 | ||||
1,795 | Quest Diagnostics, Inc | 89,337 | |||||
300 | * | RehabCare Group, Inc | 6,534 | ||||
599 | * | Select Medical Holdings Corp | 4,061 |
64
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
246 | * | Skilled Healthcare Group, Inc (Class A) | $ | 1,670 | |||
597 | * | Sun Healthcare Group, Inc | 4,824 | ||||
557 | * | Sunrise Senior Living, Inc | 1,548 | ||||
193 | * | Team Health Holdings, Inc | 2,494 | ||||
5,785 | * | Tenet Healthcare Corp | 25,107 | ||||
1,080 | Universal Health Services, Inc (Class B) | 41,202 | |||||
133 | * | US Physical Therapy, Inc | 2,245 | ||||
86 | * | Virtual Radiologic Corp | 1,476 | ||||
TOTAL HEALTH SERVICES | 1,803,583 | ||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.0% | |||||||
1,107 | * | Broadwind Energy, Inc | 3,100 | ||||
250 | * | Comverge, Inc | 2,240 | ||||
466 | Granite Construction, Inc | 10,988 | |||||
670 | Great Lakes Dredge & Dock Corp | 4,020 | |||||
111 | * | LB Foster Co (Class A) | 2,877 | ||||
440 | * | Matrix Service Co | 4,096 | ||||
209 | * | MYR Group, Inc | 3,488 | ||||
434 | * | Orion Marine Group, Inc | 6,163 | ||||
133 | * | Sterling Construction Co, Inc | 1,721 | ||||
TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING | 38,693 | ||||||
HOLDING AND OTHER INVESTMENT OFFICES - 4.3% | |||||||
483 | Acadia Realty Trust | 8,124 | |||||
536 | * | Affiliated Managers Group, Inc | 32,573 | ||||
79 | Agree Realty Corp | 1,842 | |||||
24 | Alexander’s, Inc | 7,270 | |||||
534 | Alexandria Real Estate Equities, Inc | 33,840 | |||||
2,025 | AMB Property Corp | 48,013 | |||||
628 | American Campus Communities, Inc | 17,138 | |||||
396 | American Capital Agency Corp | 10,462 | |||||
6,738 | Annaly Mortgage Management, Inc | 115,557 | |||||
1,428 | Anworth Mortgage Asset Corp | 10,167 | |||||
1,446 | Apartment Investment & Management Co (Class A) | 28,009 | |||||
131 | Apollo Commercial Real Estate Finance, Inc | 2,156 | |||||
548 | * | Ashford Hospitality Trust, Inc | 4,017 | ||||
672 | Associated Estates Realty Corp | 8,702 | |||||
973 | AvalonBay Communities, Inc | 90,849 | |||||
20,814 | * | Berkshire Hathaway, Inc (Class B) | 1,658,667 | ||||
1,291 | BioMed Realty Trust, Inc | 20,772 | |||||
1,674 | Boston Properties, Inc | 119,423 | |||||
1,550 | Brandywine Realty Trust | 16,663 | |||||
720 | BRE Properties, Inc (Class A) | 26,590 | |||||
806 | Camden Property Trust | 32,925 | |||||
1,088 | Capital Lease Funding, Inc | 5,016 | |||||
47 | Capital Southwest Corp | 4,132 | |||||
838 | Capstead Mortgage Corp | 9,268 | |||||
1,729 | CBL & Associates Properties, Inc | 21,509 | |||||
1,018 | Cedar Shopping Centers, Inc | 6,128 | |||||
105 | * | Chatham Lodging Trust | 1,876 | ||||
65 | Cherokee, Inc | 1,112 | |||||
509 | Cogdell Spencer, Inc | 3,441 | |||||
806 | Colonial Properties Trust | 11,711 | |||||
175 | Colony Financial, Inc | 2,958 | |||||
691 | Corporate Office Properties Trust | 26,092 | |||||
1,071 | Cousins Properties, Inc | 7,219 | |||||
158 | CreXus Investment Corp | 1,964 | |||||
241 | Danvers Bancorp, Inc | 3,482 | |||||
2,531 | DCT Industrial Trust, Inc | 11,440 | |||||
2,398 | Developers Diversified Realty Corp | 23,740 | |||||
1,854 | DiamondRock Hospitality Co | 15,240 | |||||
919 | Digital Realty Trust, Inc | 53,008 | |||||
1,381 | Douglas Emmett, Inc | 19,638 | |||||
2,789 | Duke Realty Corp | 31,655 | |||||
142 | Dynex Capital, Inc | 1,311 |
65
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
305 | EastGroup Properties, Inc | $ | 10,852 | ||||
684 | Education Realty Trust, Inc | 4,125 | |||||
496 | Entertainment Properties Trust | 18,883 | |||||
316 | Equity Lifestyle Properties, Inc | 15,241 | |||||
415 | Equity One, Inc | 6,474 | |||||
3,355 | Equity Residential | 139,702 | |||||
363 | Essex Property Trust, Inc | 35,407 | |||||
183 | * | Excel Trust, Inc | 2,196 | ||||
1,040 | Extra Space Storage, Inc | 14,456 | |||||
697 | Federal Realty Investment Trust | 48,978 | |||||
1,067 | * | FelCor Lodging Trust, Inc | 5,324 | ||||
153 | * | Financial Engines, Inc | 2,081 | ||||
1,135 | * | First Industrial Realty Trust, Inc | 5,471 | ||||
447 | First Potomac Realty Trust | 6,423 | |||||
839 | Franklin Street Properties Corp | 9,909 | |||||
2,976 | b | General Growth Properties, Inc | 39,462 | ||||
404 | Getty Realty Corp | 9,054 | |||||
239 | Gladstone Capital Corp | 2,584 | |||||
105 | Gladstone Commercial Corp | 1,716 | |||||
758 | Glimcher Realty Trust | 4,533 | |||||
322 | * | Harris & Harris Group, Inc | 1,317 | ||||
442 | Hatteras Financial Corp | 12,296 | |||||
3,535 | HCP, Inc | 114,004 | |||||
1,509 | Health Care REIT, Inc | 63,559 | |||||
716 | Healthcare Realty Trust, Inc | 15,731 | |||||
1,566 | Hersha Hospitality Trust | 7,078 | |||||
225 | * | HFF, Inc (Class A) | 1,591 | ||||
856 | Highwoods Properties, Inc | 23,763 | |||||
525 | * | Hilltop Holdings, Inc | 5,255 | ||||
429 | Home Properties, Inc | 19,335 | |||||
1,473 | Hospitality Properties Trust | 31,080 | |||||
8,019 | Host Marriott Corp | 108,096 | |||||
2,713 | HRPT Properties Trust | 16,848 | |||||
843 | Inland Real Estate Corp | 6,677 | |||||
352 | Invesco Mortgage Capital, Inc | 7,044 | |||||
895 | Investors Real Estate Trust | 7,903 | |||||
238 | * | Ironwood Pharmaceuticals, Inc | 2,837 | ||||
14,149 | iShares Russell 3000 Index Fund | 864,221 | |||||
1,264 | * | iStar Financial, Inc | 5,637 | ||||
738 | * | Jamba, Inc | 1,572 | ||||
620 | Kilroy Realty Corp | 18,433 | |||||
4,888 | Kimco Realty Corp | 65,695 | |||||
715 | Kite Realty Group Trust | 2,989 | |||||
904 | LaSalle Hotel Properties | 18,595 | |||||
1,198 | Lexington Corporate Properties Trust | 7,200 | |||||
1,259 | Liberty Property Trust | 36,322 | |||||
249 | LTC Properties, Inc | 6,043 | |||||
1,563 | Macerich Co | 58,331 | |||||
947 | Mack-Cali Realty Corp | 28,154 | |||||
579 | * | Maguire Properties, Inc | 1,696 | ||||
85 | Main Street Capital Corp | 1,269 | |||||
1,127 | Medical Properties Trust, Inc | 10,639 | |||||
3,378 | MFA Mortgage Investments, Inc | 24,997 | |||||
339 | Mid-America Apartment Communities, Inc | 17,448 | |||||
220 | Mission West Properties, Inc | 1,500 | |||||
237 | Monmouth Real Estate Investment Corp (Class A) | 1,751 | |||||
407 | MVC Capital, Inc | 5,258 | |||||
295 | National Health Investors, Inc | 11,375 | |||||
983 | National Retail Properties, Inc | 21,076 | |||||
1,404 | Nationwide Health Properties, Inc | 50,221 | |||||
753 | * | Newcastle Investment Corp | 2,018 | ||||
835 | NorthStar Realty Finance Corp | 2,229 | |||||
1,045 | Omega Healthcare Investors, Inc | 20,827 | |||||
100 | One Liberty Properties, Inc | 1,491 | |||||
259 | Parkway Properties, Inc | 3,774 |
66
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
233 | * | Pebblebrook Hotel Trust | $ | 4,392 | |||
759 | Pennsylvania Real Estate Investment Trust | 9,275 | |||||
204 | * | Pennymac Mortgage Investment Trust | 3,244 | ||||
556 | Piedmont Office Realty Trust, Inc | 10,414 | |||||
1,962 | Plum Creek Timber Co, Inc | 67,748 | |||||
588 | Post Properties, Inc | 13,365 | |||||
481 | Potlatch Corp | 17,186 | |||||
5,741 | Prologis | 58,156 | |||||
519 | Prospect Capital Corp | 5,008 | |||||
235 | PS Business Parks, Inc | 13,108 | |||||
1,687 | Public Storage, Inc | 148,304 | |||||
1,238 | * | RAIT Investment Trust | 2,315 | ||||
459 | Ramco-Gershenson Properties | 4,636 | |||||
1,234 | Realty Income Corp | 37,427 | |||||
936 | Redwood Trust, Inc | 13,703 | |||||
1,068 | Regency Centers Corp | 36,739 | |||||
500 | Resource Capital Corp | 2,840 | |||||
133 | Saul Centers, Inc | 5,404 | |||||
1,422 | Senior Housing Properties Trust | 28,596 | |||||
3,495 | Simon Property Group, Inc | 282,221 | |||||
929 | SL Green Realty Corp | 51,132 | |||||
311 | Sovran Self Storage, Inc | 10,708 | |||||
132 | * | SRS Labs, Inc | 1,208 | ||||
542 | Starwood Property Trust, Inc | 9,187 | |||||
1,873 | * | Strategic Hotels & Resorts, Inc | 8,222 | ||||
236 | Sun Communities, Inc | 6,127 | |||||
1,224 | * | Sunstone Hotel Investors, Inc | 12,154 | ||||
529 | Tanger Factory Outlet Centers, Inc | 21,890 | |||||
659 | Taubman Centers, Inc | 24,798 | |||||
108 | * | Terreno Realty Corp | 1,913 | ||||
308 | Two Harbors Investment Corp | 2,541 | |||||
1,951 | UDR, Inc | 37,323 | |||||
747 | UMH Properties, Inc | 7,522 | |||||
200 | Universal Health Realty Income Trust | 6,426 | |||||
213 | Urstadt Biddle Properties, Inc (Class A) | 3,436 | |||||
1,389 | U-Store-It Trust | 10,362 | |||||
1,486 | * | Vantage Drilling Co | 2,006 | ||||
1,860 | Ventas, Inc | 87,327 | |||||
3,996 | Virgin Media, Inc | 66,693 | |||||
56 | * | Virtus Investment Partners, Inc | 1,048 | ||||
1,906 | Vornado Realty Trust | 139,043 | |||||
745 | * | WABCO Holdings, Inc | 23,453 | ||||
287 | Walter Investment Management Corp | 4,692 | |||||
704 | Washington Real Estate Investment Trust | 19,423 | |||||
1,372 | Weingarten Realty Investors | 26,137 | |||||
242 | Winthrop Realty Trust | 3,100 | |||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 6,025,697 | ||||||
HOTELS AND OTHER LODGING PLACES - 0.4% | |||||||
320 | Ameristar Casinos, Inc | 4,819 | |||||
459 | * | Bluegreen Corp | 1,382 | ||||
704 | * | Boyd Gaming Corp | 5,977 | ||||
93 | * | Chesapeake Lodging Trust | 1,471 | ||||
370 | Choice Hotels International, Inc | 11,178 | |||||
424 | * | Gaylord Entertainment Co | 9,366 | ||||
540 | * | Hyatt Hotels Corp | 20,029 | ||||
244 | * | Isle of Capri Casinos, Inc | 2,259 | ||||
3,810 | * | Las Vegas Sands Corp | 84,353 | ||||
200 | Marcus Corp | 1,892 | |||||
3,291 | Marriott International, Inc (Class A) | 98,532 | |||||
3,291 | * | MGM Mirage | 31,725 | ||||
200 | * | Monarch Casino & Resort, Inc | 2,026 | ||||
510 | * | Morgans Hotel Group Co | 3,142 | ||||
1,101 | * | Orient-Express Hotels Ltd (Class A) | 8,147 | ||||
183 | * | Outdoor Channel Holdings, Inc | 855 |
67
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
2,283 | Starwood Hotels & Resorts Worldwide, Inc | $ | 94,585 | ||||
437 | * | Vail Resorts, Inc | 15,256 | ||||
2,126 | Wyndham Worldwide Corp | 42,818 | |||||
908 | Wynn Resorts Ltd | 69,253 | |||||
TOTAL HOTELS AND OTHER LODGING PLACES | 509,065 | ||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.9% | |||||||
8,588 | 3M Co | 678,366 | |||||
462 | * | 3PAR, Inc | 4,301 | ||||
129 | Aaon, Inc | 3,007 | |||||
878 | Actuant Corp (Class A) | 16,533 | |||||
1,130 | * | AGCO Corp | 30,476 | ||||
78 | Alamo Group, Inc | 1,693 | |||||
800 | * | Allis-Chalmers Energy, Inc | 1,648 | ||||
296 | * | Altra Holdings, Inc | 3,854 | ||||
79 | Ampco-Pittsburgh Corp | 1,646 | |||||
16,178 | Applied Materials, Inc | 194,460 | |||||
89 | * | Argan, Inc | 928 | ||||
237 | * | Astec Industries, Inc | 6,572 | ||||
1,218 | * | Axcelis Technologies, Inc | 1,888 | ||||
226 | Black Box Corp | 6,303 | |||||
570 | * | Blount International, Inc | 5,854 | ||||
600 | Briggs & Stratton Corp | 10,212 | |||||
5,354 | * | Brocade Communications Systems, Inc | 27,627 | ||||
831 | * | Brooks Automation, Inc | 6,424 | ||||
905 | Bucyrus International, Inc (Class A) | 42,942 | |||||
741 | Carlisle Cos, Inc | 26,772 | |||||
126 | Cascade Corp | 4,487 | |||||
7,541 | Caterpillar, Inc | 452,988 | |||||
821 | * | Cirrus Logic, Inc | 12,980 | ||||
311 | * | CNH Global NV | 7,044 | ||||
242 | * | Colfax Corp | 2,519 | ||||
196 | * | Columbus McKinnon Corp | 2,738 | ||||
347 | * | Cray, Inc | 1,936 | ||||
2,415 | Cummins, Inc | 157,289 | |||||
554 | Curtiss-Wright Corp | 16,088 | |||||
364 | * | Cymer, Inc | 10,935 | ||||
5,116 | Deere & Co | 284,859 | |||||
772 | Diebold, Inc | 21,037 | |||||
944 | Donaldson Co, Inc | 40,262 | |||||
141 | * | Douglas Dynamics, Inc | 1,622 | ||||
2,250 | Dover Corp | 94,028 | |||||
994 | * | Dresser-Rand Group, Inc | 31,361 | ||||
416 | * | Dril-Quip, Inc | 18,312 | ||||
2,019 | Eaton Corp | 132,123 | |||||
24,755 | * | EMC Corp | 453,017 | ||||
9,071 | Emerson Electric Co | 396,312 | |||||
1,000 | * | Emulex Corp | 9,180 | ||||
583 | * | Ener1, Inc | 1,971 | ||||
215 | * | EnPro Industries, Inc | 6,052 | ||||
1,363 | * | Entegris, Inc | 5,411 | ||||
1,016 | * | Extreme Networks, Inc | 2,743 | ||||
413 | * | Flow International Corp | 975 | ||||
686 | Flowserve Corp | 58,173 | |||||
1,465 | * | FMC Technologies, Inc | 77,147 | ||||
478 | * | Fortinet, Inc | 7,858 | ||||
190 | * | Fuel Tech, Inc | 1,201 | ||||
655 | Gardner Denver, Inc | 29,206 | |||||
128,571 | General Electric Co | 1,853,993 | |||||
194 | Gorman-Rupp Co | 4,860 | |||||
730 | Graco, Inc | 20,579 | |||||
128 | Graham Corp | 1,919 | |||||
978 | IDEX Corp | 27,941 | |||||
289 | * | Immersion Corp | 1,462 | ||||
3,877 | Ingersoll-Rand plc | 133,718 |
68
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
745 | * | Intermec, Inc | $ | 7,636 | |||
15,443 | International Business Machines Corp | 1,906,901 | |||||
3,589 | International Game Technology | 56,347 | |||||
278 | * | Intevac, Inc | 2,966 | ||||
301 | * | Isilon Systems, Inc | 3,865 | ||||
2,210 | ITT Industries, Inc | 99,273 | |||||
2,188 | Jabil Circuit, Inc | 29,100 | |||||
308 | John Bean Technologies Corp | 4,697 | |||||
8,104 | Johnson Controls, Inc | 217,754 | |||||
1,240 | Joy Global, Inc | 62,112 | |||||
148 | * | Kadant, Inc | 2,578 | ||||
428 | Kaydon Corp | 14,064 | |||||
983 | Kennametal, Inc | 24,998 | |||||
848 | * | Kulicke & Soffa Industries, Inc | 5,953 | ||||
1,524 | * | Lam Research Corp | 58,003 | ||||
560 | Lennox International, Inc | 23,279 | |||||
972 | * | Lexmark International, Inc (Class A) | 32,105 | ||||
136 | Lindsay Manufacturing Co | 4,310 | |||||
400 | Lufkin Industries, Inc | 15,596 | |||||
1,601 | Manitowoc Co, Inc | 14,633 | |||||
171 | Met-Pro Corp | 1,840 | |||||
968 | * | Micros Systems, Inc | 30,850 | ||||
218 | * | Middleby Corp | 11,595 | ||||
500 | * | Modine Manufacturing Co | 3,840 | ||||
66 | Nacco Industries, Inc (Class A) | 5,858 | |||||
136 | * | Natural Gas Services Group, Inc | 2,058 | ||||
572 | * | Netezza Corp | 7,825 | ||||
400 | * | Netgear, Inc | 7,136 | ||||
455 | * | Network Engines, Inc | 1,233 | ||||
407 | Nordson Corp | 22,825 | |||||
3,627 | Northrop Grumman Corp | 197,454 | |||||
597 | * | Oil States International, Inc | 23,629 | ||||
1,415 | Pall Corp | 48,634 | |||||
2,191 | *,m | Palm, Inc | 12,467 | ||||
2,502 | Pitney Bowes, Inc | 54,944 | |||||
144 | * | PMFG, Inc | 2,182 | ||||
237 | Primoris Services Corp | 1,493 | |||||
409 | * | Pure Bioscience | 978 | ||||
2,574 | * | Quantum Corp | 4,839 | ||||
301 | * | Rackable Systems, Inc | 2,131 | ||||
4,590 | Raytheon Co | 222,110 | |||||
262 | * | RBC Bearings, Inc | 7,595 | ||||
113 | * | Rimage Corp | 1,789 | ||||
759 | * | Riverbed Technology, Inc | 20,964 | ||||
310 | Robbins & Myers, Inc | 6,739 | |||||
219 | * | Safeguard Scientifics, Inc | 2,313 | ||||
200 | * | Sauer-Danfoss, Inc | 2,444 | ||||
321 | * | Scansource, Inc | 8,003 | ||||
774 | * | Scientific Games Corp (Class A) | 7,121 | ||||
5,891 | * | Seagate Technology, Inc | 76,819 | ||||
373 | * | Sigma Designs, Inc | 3,734 | ||||
608 | SPX Corp | 32,108 | |||||
151 | Standex International Corp | 3,828 | |||||
488 | * | STEC, Inc | 6,129 | ||||
258 | * | Super Micro Computer, Inc | 3,483 | ||||
142 | * | T-3 Energy Services, Inc | 3,962 | ||||
208 | * | Tecumseh Products Co (Class A) | 2,313 | ||||
200 | Tennant Co | 6,764 | |||||
2,016 | * | Teradata Corp | 61,448 | ||||
1,277 | * | Terex Corp | 23,931 | ||||
3,324 | Textron, Inc | 56,408 | |||||
107 | * | Thermadyne Holdings Corp | 1,157 | ||||
1,085 | Timken Co | 28,199 | |||||
419 | Toro Co | 20,581 | |||||
100 | Twin Disc, Inc | 1,136 |
69
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
6,149 | Tyco International Ltd | $ | 216,629 | ||||
283 | * | Ultratech, Inc | 4,604 | ||||
1,505 | * | Varian Medical Systems, Inc | 78,681 | ||||
1,025 | * | VeriFone Holdings, Inc | 19,403 | ||||
334 | Watsco, Inc | 19,345 | |||||
2,759 | * | Western Digital Corp | 83,211 | ||||
728 | Woodward Governor Co | 18,586 | |||||
16,550 | Xerox Corp | 133,062 | |||||
359 | * | Xyratex Ltd | 5,080 | ||||
721 | * | Zebra Technologies Corp (Class A) | 18,292 | ||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 9,695,784 | ||||||
INSTRUMENTS AND RELATED PRODUCTS - 3.6% | |||||||
247 | * | Abaxis, Inc | 5,293 | ||||
400 | * | Abiomed, Inc | 3,872 | ||||
606 | * | Accuray, Inc | 4,018 | ||||
766 | * | Affymetrix, Inc | 4,519 | ||||
275 | * | AGA Medical Holdings, Inc | 3,490 | ||||
4,191 | * | Agilent Technologies, Inc | 119,150 | ||||
835 | Alcon, Inc | 123,739 | |||||
700 | * | Align Technology, Inc | 10,409 | ||||
3,663 | Allergan, Inc | 213,406 | |||||
620 | * | Alphatec Holdings, Inc | 2,877 | ||||
909 | * | American Medical Systems Holdings, Inc | 20,107 | ||||
140 | American Science & Engineering, Inc | 10,669 | |||||
150 | Analogic Corp | 6,827 | |||||
200 | * | Anaren, Inc | 2,988 | ||||
275 | * | Angiodynamics, Inc | 4,056 | ||||
844 | * | Antares Pharma, Inc | 1,485 | ||||
984 | * | Applied Energetics, Inc | 1,014 | ||||
166 | * | Argon ST, Inc | 5,692 | ||||
325 | * | Arthrocare Corp | 9,961 | ||||
18 | Atrion Corp | 2,431 | |||||
554 | * | ATS Medical, Inc | 2,199 | ||||
258 | Badger Meter, Inc | 9,982 | |||||
1,158 | Bard (C.R.), Inc | 89,780 | |||||
7,184 | Baxter International, Inc | 291,957 | |||||
845 | Beckman Coulter, Inc | 50,945 | |||||
2,809 | Becton Dickinson & Co | 189,945 | |||||
247 | * | Bio-Rad Laboratories, Inc (Class A) | 21,363 | ||||
18,299 | * | Boston Scientific Corp | 106,134 | ||||
869 | * | Bruker BioSciences Corp | 10,567 | ||||
539 | * | Caliper Life Sciences, Inc | 2,302 | ||||
146 | Cantel Medical Corp | 2,438 | |||||
291 | * | CardioNet, Inc | 1,595 | ||||
2,135 | * | CareFusion Corp | 48,465 | ||||
712 | * | Cepheid, Inc | 11,406 | ||||
449 | * | Cerus Corp | 1,419 | ||||
370 | * | Clarient, Inc | 1,140 | ||||
306 | * | Coherent, Inc | 10,496 | ||||
280 | Cohu, Inc | 3,396 | |||||
450 | * | Conmed Corp | 8,384 | ||||
546 | Cooper Cos, Inc | 21,725 | |||||
6,038 | Covidien plc | 242,606 | |||||
158 | * | Cutera, Inc | 1,455 | ||||
327 | * | Cyberonics, Inc | 7,743 | ||||
85 | * | Cynosure, Inc (Class A) | 915 | ||||
6,418 | Danaher Corp | 238,236 | |||||
545 | * | Delcath Systems, Inc | 3,455 | ||||
1,806 | Dentsply International, Inc | 54,017 | |||||
567 | * | Depomed, Inc | 1,588 | ||||
689 | * | DexCom, Inc | 7,965 | ||||
241 | * | Dionex Corp | 17,945 | ||||
82 | * | DXP Enterprises, Inc | 1,283 | ||||
3,150 | * | Eastman Kodak Co | 13,671 |
70
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
1,386 | * | Edwards Lifesciences Corp | $ | 77,644 | |||
208 | * | Electro-Optical Sciences, Inc | 1,548 | ||||
536 | * | Endologix, Inc | 2,428 | ||||
317 | ESCO Technologies, Inc | 8,163 | |||||
359 | * | Esterline Technologies Corp | 17,035 | ||||
998 | * | ev3, Inc | 22,365 | ||||
78 | * | Exactech, Inc | 1,332 | ||||
163 | * | FARO Technologies, Inc | 3,050 | ||||
451 | * | FEI Co | 8,889 | ||||
1,836 | * | Flir Systems, Inc | 53,409 | ||||
593 | * | Formfactor, Inc | 6,404 | ||||
633 | * | Fossil, Inc | 21,965 | ||||
1,360 | Garmin Ltd | 39,794 | |||||
360 | * | Haemonetics Corp | 19,267 | ||||
259 | * | Hanger Orthopedic Group, Inc | 4,652 | ||||
553 | * | HealthTronics, Inc | 2,671 | ||||
153 | * | Herley Industries, Inc | 2,182 | ||||
747 | Hillenbrand, Inc | 15,978 | |||||
3,134 | * | Hologic, Inc | 43,657 | ||||
154 | * | ICU Medical, Inc | 4,954 | ||||
154 | * | ICx Technologies, Inc | 1,124 | ||||
276 | * | II-VI, Inc | 8,178 | ||||
1,466 | * | Illumina, Inc | 63,815 | ||||
573 | * | Insulet Corp | 8,624 | ||||
289 | * | Integra LifeSciences Holdings Corp | 10,693 | ||||
472 | * | Intuitive Surgical, Inc | 148,973 | ||||
316 | Invacare Corp | 6,554 | |||||
1,704 | * | ION Geophysical Corp | 5,930 | ||||
205 | * | IRIS International, Inc | 2,079 | ||||
477 | * | Itron, Inc | 29,488 | ||||
345 | * | Ixia | 2,964 | ||||
138 | Keithley Instruments, Inc | 1,219 | |||||
66 | * | Kensey Nash Corp | 1,565 | ||||
2,049 | Kla-Tencor Corp | 57,126 | |||||
800 | * | Kopin Corp | 2,712 | ||||
172 | * | KVH Industries, Inc | 2,136 | ||||
908 | * | L-1 Identity Solutions, Inc | 7,437 | ||||
138 | * | LaBarge, Inc | 1,575 | ||||
2,218 | * | Life Technologies Corp | 104,801 | ||||
1,753 | * | LTX-Credence Corp | 4,961 | ||||
201 | * | Lydall, Inc | 1,536 | ||||
303 | * | MAKO Surgical Corp | 3,772 | ||||
611 | Masimo Corp | 14,548 | |||||
114 | * | Measurement Specialties, Inc | 1,562 | ||||
147 | * | Medical Action Industries, Inc | 1,763 | ||||
13,264 | Medtronic, Inc | 481,084 | |||||
310 | * | Merit Medical Systems, Inc | 4,982 | ||||
410 | * | Mettler-Toledo International, Inc | 45,768 | ||||
167 | * | Micrus Endovascular Corp | 3,472 | ||||
681 | * | Millipore Corp | 72,629 | ||||
352 | Mine Safety Appliances Co | 8,723 | |||||
604 | * | MKS Instruments, Inc | 11,307 | ||||
200 | * | Movado Group, Inc | 2,136 | ||||
221 | MTS Systems Corp | 6,409 | |||||
214 | * | Nanometrics, Inc | 2,159 | ||||
650 | National Instruments Corp | 20,657 | |||||
316 | * | Natus Medical, Inc | 5,148 | ||||
250 | * | Neogen Corp | 6,513 | ||||
407 | * | Newport Corp | 3,687 | ||||
472 | * | NuVasive, Inc | 16,737 | ||||
222 | * | NxStage Medical, Inc | 3,294 | ||||
181 | * | Orthofix International NV | 5,801 | ||||
720 | * | Orthovita, Inc | 1,462 | ||||
42 | * | OYO Geospace Corp | 2,036 | ||||
200 | * | Palomar Medical Technologies, Inc | 2,238 |
71
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
1,408 | PerkinElmer, Inc | $ | 29,103 | ||||
910 | * | Resmed, Inc | 55,337 | ||||
119 | * | Rochester Medical Corp | 1,125 | ||||
1,711 | Rockwell Automation, Inc | 83,993 | |||||
1,895 | Rockwell Collins, Inc | 100,681 | |||||
383 | * | Rofin-Sinar Technologies, Inc | 7,974 | ||||
1,133 | Roper Industries, Inc | 63,403 | |||||
351 | * | Rudolph Technologies, Inc | 2,650 | ||||
203 | *,m | SenoRx, Inc | 2,229 | ||||
405 | * | Sirona Dental Systems, Inc | 14,110 | ||||
685 | * | Solta Medical, Inc | 1,302 | ||||
142 | * | Somanetics Corp | 3,543 | ||||
306 | * | Sonic Solutions, Inc | 2,555 | ||||
166 | * | SonoSite, Inc | 4,500 | ||||
330 | * | Spectranetics Corp | 1,709 | ||||
3,958 | * | St. Jude Medical, Inc | 142,844 | ||||
407 | * | Staar Surgical Co | 2,328 | ||||
650 | * | Star Scientific, Inc | 1,066 | ||||
300 | * | Stereotaxis, Inc | 993 | ||||
745 | STERIS Corp | 23,155 | |||||
3,794 | Stryker Corp | 189,928 | |||||
376 | * | Symmetry Medical, Inc | 3,963 | ||||
435 | * | Syneron Medical Ltd | 4,472 | ||||
146 | * | Synovis Life Technologies, Inc | 2,231 | ||||
463 | Techne Corp | 26,599 | |||||
433 | * | Teledyne Technologies, Inc | 16,705 | ||||
2,167 | * | Teradyne, Inc | 21,128 | ||||
4,941 | * | Thermo Electron Corp | 242,355 | ||||
682 | * | Thoratec Corp | 29,142 | ||||
1,441 | * | Trimble Navigation Ltd | 40,348 | ||||
584 | * | Unilife Corp | 3,399 | ||||
200 | * | Vascular Solutions, Inc | 2,500 | ||||
512 | * | Veeco Instruments, Inc | 17,551 | ||||
200 | * | Vital Images, Inc | 2,550 | ||||
979 | * | Vivus, Inc | 9,398 | ||||
603 | * | Volcano Corp | 13,157 | ||||
1,129 | * | Waters Corp | 73,046 | ||||
456 | * | Wright Medical Group, Inc | 7,574 | ||||
391 | * | X-Rite, Inc | 1,443 | ||||
68 | Young Innovations, Inc | 1,914 | |||||
2,443 | * | Zimmer Holdings, Inc | 132,044 | ||||
255 | * | Zoll Medical Corp | 6,911 | ||||
198 | * | Zygo Corp | 1,606 | ||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 4,985,848 | ||||||
INSURANCE AGENTS, BROKERS AND SERVICE - 0.4% | |||||||
3,244 | AON Corp | 120,417 | |||||
1,252 | Arthur J. Gallagher & Co | 30,524 | |||||
1,536 | Brown & Brown, Inc | 29,399 | |||||
245 | * | Crawford & Co (Class B) | 774 | ||||
5,345 | Hartford Financial Services Group, Inc | 118,285 | |||||
212 | Life Partners Holdings, Inc | 4,338 | |||||
6,518 | Marsh & McLennan Cos, Inc | 146,980 | |||||
667 | * | National Financial Partners Corp | 6,517 | ||||
1,242 | * | Verisk Analytics, Inc | 37,136 | ||||
92 | White Mountains Insurance Group Ltd | 29,826 | |||||
TOTAL INSURANCE AGENTS, BROKERS AND SERVICE | 524,196 | ||||||
INSURANCE CARRIERS - 3.5% | |||||||
4,050 | ACE Ltd | 208,494 | |||||
5,117 | Aetna, Inc | 134,986 | |||||
5,663 | Aflac, Inc | 241,640 | |||||
69 | * | Alleghany Corp | 20,238 | ||||
599 | Allied World Assurance Holdings Ltd | 27,183 | |||||
6,476 | Allstate Corp | 186,055 |
72
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
3,600 | * | Ambac Financial Group, Inc | $ | 2,412 | |||
629 | American Equity Investment Life Holding Co | 6,491 | |||||
1,036 | American Financial Group, Inc | 28,304 | |||||
1,471 | * | American International Group, Inc | 50,661 | ||||
85 | American National Insurance Co | 6,882 | |||||
173 | American Physicians Capital, Inc | 5,337 | |||||
75 | American Physicians Service Group, Inc | 1,834 | |||||
118 | * | American Safety Insurance Holdings Ltd | 1,855 | ||||
623 | * | AMERIGROUP Corp | 20,235 | ||||
202 | * | Amerisafe, Inc | 3,545 | ||||
294 | Amtrust Financial Services, Inc | 3,540 | |||||
607 | * | Arch Capital Group Ltd | 45,222 | ||||
374 | Argo Group International Holdings Ltd | 11,441 | |||||
961 | Aspen Insurance Holdings Ltd | 23,775 | |||||
1,348 | Assurant, Inc | 46,776 | |||||
2,211 | Assured Guaranty Ltd | 29,340 | |||||
1,528 | Axis Capital Holdings Ltd | 45,412 | |||||
125 | Baldwin & Lyons, Inc (Class B) | 2,626 | |||||
456 | * | Catalyst Health Solutions, Inc | 15,732 | ||||
593 | * | Centene Corp | 12,750 | ||||
3,935 | Chubb Corp | 196,789 | |||||
3,324 | Cigna Corp | 103,243 | |||||
1,758 | Cincinnati Financial Corp | 45,479 | |||||
387 | * | Citizens, Inc (Class A) | 2,577 | ||||
303 | * | CNA Financial Corp | 7,745 | ||||
198 | * | CNA Surety Corp | 3,182 | ||||
2,903 | * | Conseco, Inc | 14,370 | ||||
571 | Delphi Financial Group, Inc (Class A) | 13,938 | |||||
143 | Donegal Group, Inc (Class A) | 1,757 | |||||
60 | EMC Insurance Group, Inc | 1,316 | |||||
620 | Employers Holdings, Inc | 9,133 | |||||
551 | Endurance Specialty Holdings Ltd | 20,679 | |||||
76 | * | Enstar Group Ltd | 5,049 | ||||
363 | Erie Indemnity Co (Class A) | 16,517 | |||||
710 | Everest Re Group Ltd | 50,211 | |||||
155 | FBL Financial Group, Inc (Class A) | 3,255 | |||||
2,808 | Fidelity National Title Group, Inc (Class A) | 36,476 | |||||
1,122 | First American Corp | 19,815 | |||||
1,253 | First American Financial Corp | 15,888 | |||||
136 | First Mercury Financial Corp | 1,439 | |||||
472 | Flagstone Reinsurance Holdings Ltd | 5,107 | |||||
315 | * | Fpic Insurance Group, Inc | 8,080 | ||||
5,894 | * | Genworth Financial, Inc (Class A) | 77,035 | ||||
327 | * | Greenlight Capital Re Ltd (Class A) | 8,237 | ||||
136 | * | Hallmark Financial Services | 1,353 | ||||
539 | Hanover Insurance Group, Inc | 23,447 | |||||
168 | Harleysville Group, Inc | 5,213 | |||||
1,378 | HCC Insurance Holdings, Inc | 34,119 | |||||
1,227 | * | Health Net, Inc | 29,902 | ||||
627 | * | Healthspring, Inc | 9,725 | ||||
467 | Horace Mann Educators Corp | 7,145 | |||||
2,014 | * | Humana, Inc | 91,979 | ||||
205 | Infinity Property & Casualty Corp | 9,467 | |||||
77 | Kansas City Life Insurance Co | 2,277 | |||||
2,290 | * | Leucadia National Corp | 44,678 | ||||
3,641 | Lincoln National Corp | 88,440 | |||||
3,792 | Loews Corp | 126,312 | |||||
553 | Maiden Holdings Ltd | 3,633 | |||||
119 | * | Markel Corp | 40,460 | ||||
1,052 | Max Capital Group Ltd | 19,757 | |||||
1,717 | * | MBIA, Inc | 9,632 | ||||
694 | Meadowbrook Insurance Group, Inc | 5,989 | |||||
303 | Mercury General Corp | 12,556 | |||||
7,091 | Metlife, Inc | 267,756 | |||||
478 | * | Metropolitan Health Networks, Inc | 1,783 |
73
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
2,499 | * | MGIC Investment Corp | $ | 17,218 | |||
159 | * | Molina Healthcare, Inc | 4,579 | ||||
855 | Montpelier Re Holdings Ltd | 12,765 | |||||
173 | National Interstate Corp | 3,429 | |||||
27 | National Western Life Insurance Co (Class A) | 4,125 | |||||
149 | * | Navigators Group, Inc | 6,128 | ||||
65 | NYMAGIC, Inc | 1,254 | |||||
2,802 | Old Republic International Corp | 33,988 | |||||
313 | OneBeacon Insurance Group Ltd (Class A) | 4,482 | |||||
943 | PartnerRe Ltd | 66,142 | |||||
1,675 | * | Phoenix Cos, Inc | 3,534 | ||||
543 | Platinum Underwriters Holdings Ltd | 19,705 | |||||
400 | * | PMA Capital Corp (Class A) | 2,620 | ||||
1,998 | * | PMI Group, Inc | 5,774 | ||||
200 | Presidential Life Corp | 1,820 | |||||
270 | * | Primerica, Inc | 5,789 | ||||
499 | * | Primus Guaranty Ltd | 1,841 | ||||
3,855 | Principal Financial Group | 90,361 | |||||
400 | * | ProAssurance Corp | 22,704 | ||||
8,090 | Progressive Corp | 151,445 | |||||
1,036 | Protective Life Corp | 22,160 | |||||
5,589 | Prudential Financial, Inc | 299,907 | |||||
1,623 | Radian Group, Inc | 11,751 | |||||
912 | Reinsurance Group of America, Inc (Class A) | 41,688 | |||||
697 | RenaissanceRe Holdings Ltd | 39,220 | |||||
224 | RLI Corp | 11,762 | |||||
200 | Safety Insurance Group, Inc | 7,404 | |||||
257 | SeaBright Insurance Holdings, Inc | 2,436 | |||||
656 | Selective Insurance Group, Inc | 9,748 | |||||
628 | Stancorp Financial Group, Inc | 25,459 | |||||
200 | State Auto Financial Corp | 3,102 | |||||
200 | Stewart Information Services Corp | 1,804 | |||||
440 | Symetra Financial Corp | 5,280 | |||||
993 | Torchmark Corp | 49,163 | |||||
503 | Tower Group, Inc | 10,830 | |||||
713 | Transatlantic Holdings, Inc | 34,195 | |||||
5,965 | Travelers Cos, Inc | 293,777 | |||||
246 | * | Triple-S Management Corp (Class B) | 4,563 | ||||
515 | * | United America Indemnity Ltd (Class A) | 3,790 | ||||
234 | United Fire & Casualty Co | 4,638 | |||||
13,690 | UnitedHealth Group, Inc | 388,797 | |||||
614 | Unitrin, Inc | 15,718 | |||||
417 | * | Universal American Financial Corp | 6,005 | ||||
4,006 | UnumProvident Corp | 86,930 | |||||
986 | Validus Holdings Ltd | 24,078 | |||||
1,526 | W.R. Berkley Corp | 40,378 | |||||
481 | * | WellCare Health Plans, Inc | 11,419 | ||||
5,145 | * | WellPoint, Inc | 251,745 | ||||
15 | Wesco Financial Corp | 4,848 | |||||
4,131 | XL Capital Ltd | 66,137 | |||||
TOTAL INSURANCE CARRIERS | 4,924,141 | ||||||
JUSTICE, PUBLIC ORDER AND SAFETY - 0.0% | |||||||
1,411 | * | Corrections Corp of America | 26,922 | ||||
620 | * | Geo Group, Inc | 12,865 | ||||
TOTAL JUSTICE, PUBLIC ORDER AND SAFETY | 39,787 | ||||||
LEATHER AND LEATHER PRODUCTS - 0.1% | |||||||
3,674 | Coach, Inc | 134,284 | |||||
1,032 | * | CROCS, Inc | 10,919 | ||||
349 | * | Genesco, Inc | 9,182 | ||||
870 | * | Iconix Brand Group, Inc | 12,502 | ||||
101 | RG Barry Corp | 1,114 | |||||
280 | * | Steven Madden Ltd | 8,826 | ||||
558 | * | Timberland Co (Class A) | 9,012 |
74
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
60 | Weyco Group, Inc | $ | 1,367 | ||||
600 | Wolverine World Wide, Inc | 15,131 | |||||
TOTAL LEATHER AND LEATHER PRODUCTS | 202,337 | ||||||
LEGAL SERVICES - 0.0% | |||||||
571 | * | FTI Consulting, Inc | 24,890 | ||||
154 | * | Pre-Paid Legal Services, Inc | 7,005 | ||||
TOTAL LEGAL SERVICES | 31,895 | ||||||
LOCAL AND INTERURBAN PASSENGER TRANSIT - 0.0% | |||||||
371 | * | Emergency Medical Services Corp (Class A) | 18,190 | ||||
230 | * | Rural | 1,872 | ||||
TOTAL LOCAL AND INTERURBAN PASSENGER TRANSIT | 20,062 | ||||||
LUMBER AND WOOD PRODUCTS - 0.0% | |||||||
125 | American Woodmark Corp | 2,138 | |||||
127 | Deltic Timber Corp | 5,309 | |||||
1,562 | * | Louisiana-Pacific Corp | 10,449 | ||||
100 | Skyline Corp | 1,801 | |||||
233 | Universal Forest Products, Inc | 7,062 | |||||
TOTAL LUMBER AND WOOD PRODUCTS | 26,759 | ||||||
METAL MINING - 0.7% | |||||||
740 | * | Allied Nevada Gold Corp | 14,563 | ||||
601 | * | Capital Gold Corp | 2,404 | ||||
1,625 | Cleveland-Cliffs, Inc | 76,635 | |||||
1,061 | * | Coeur d’Alene Mines Corp | 16,743 | ||||
5,209 | Freeport-McMoRan Copper & Gold, Inc (Class B) | 308,008 | |||||
3,083 | * | Golden Star Resources Ltd | 13,504 | ||||
2,915 | * | Hecla Mining Co | 15,216 | ||||
1,014 | * | Jaguar Mining, Inc | 8,954 | ||||
5,730 | Newmont Mining Corp | 353,769 | |||||
942 | * | Patriot Coal Corp | 11,069 | ||||
607 | * | Rosetta Resources, Inc | 12,025 | ||||
576 | Royal Gold, Inc | 27,648 | |||||
2,037 | Southern Copper Corp (NY) | 54,062 | |||||
574 | * | Stillwater Mining Co | 6,670 | ||||
1,680 | * | Thompson Creek Metals Co, Inc | 14,582 | ||||
334 | * | US Energy Corp Wyoming | 1,587 | ||||
1,134 | * | US Gold Corp | 5,681 | ||||
TOTAL METAL MINING | 943,120 | ||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.2% | |||||||
213 | * | Armstrong World Industries, Inc | 6,428 | ||||
75 | Blyth, Inc | 2,555 | |||||
806 | Callaway Golf Co | 4,868 | |||||
423 | Daktronics, Inc | 3,173 | |||||
1,546 | Hasbro, Inc | 63,541 | |||||
498 | * | Intrepid Potash, Inc | 9,746 | ||||
311 | * | Jakks Pacific, Inc | 4,472 | ||||
1,061 | Jarden Corp | 28,509 | |||||
256 | * | Leapfrog Enterprises, Inc | 1,029 | ||||
4,344 | Mattel, Inc | 91,919 | |||||
63 | Oil-Dri Corp of America | 1,446 | |||||
257 | * | RC2 Corp | 4,140 | ||||
153 | * | Russ Berrie & Co, Inc | 1,076 | ||||
646 | * | Shuffle Master, Inc | 5,174 | ||||
100 | * | Steinway Musical Instruments, Inc | 1,779 | ||||
TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES | 229,855 | ||||||
75
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
MISCELLANEOUS RETAIL - 1.5% | |||||||
198 | * | 1-800-FLOWERS.COM, Inc (Class A) | $ | 408 | |||
4,201 | * | Amazon.com, Inc | 459,001 | ||||
409 | Barnes & Noble, Inc | 5,276 | |||||
4,150 | Best Buy Co, Inc | 140,519 | |||||
334 | Big 5 Sporting Goods Corp | 4,389 | |||||
158 | * | Blue Nile, Inc | 7,439 | ||||
792 | * | Borders Group, Inc | 1,053 | ||||
200 | * | Build-A-Bear Workshop, Inc | 1,356 | ||||
535 | * | Cabela’s, Inc | 7,565 | ||||
400 | Cash America International, Inc | 13,708 | |||||
700 | * | CKX, Inc | 3,493 | ||||
657 | * | Coldwater Creek, Inc | 2,208 | ||||
16,387 | CVS Corp | 480,466 | |||||
1,038 | * | Dick’s Sporting Goods, Inc | 25,836 | ||||
1,532 | * | Dollar Tree, Inc | 63,756 | ||||
969 | * | Drugstore.Com | 2,985 | ||||
545 | * | Ezcorp, Inc (Class A) | 10,110 | ||||
171 | Gaiam, Inc (Class A) | 1,038 | |||||
749 | * | GSI Commerce, Inc | 21,571 | ||||
373 | * | Hibbett Sports, Inc | 8,937 | ||||
475 | * | HSN, Inc | 11,400 | ||||
317 | * | Jo-Ann Stores, Inc | 11,891 | ||||
343 | * | KAR Auction Services, Inc | 4,243 | ||||
145 | * | Kirkland’s, Inc | 2,447 | ||||
497 | MSC Industrial Direct Co (Class A) | 25,178 | |||||
414 | Nutri/System, Inc | 9,497 | |||||
3,305 | * | Office Depot, Inc | 13,352 | ||||
1,103 | * | OfficeMax, Inc | 14,405 | ||||
176 | * | Overstock.com, Inc | 3,180 | ||||
1,427 | Petsmart, Inc | 43,053 | |||||
568 | * | Priceline.com, Inc | 100,275 | ||||
187 | Pricesmart, Inc | 4,344 | |||||
7,015 | * | Rite Aid Corp | 6,875 | ||||
322 | * | Shutterfly, Inc | 7,715 | ||||
1,056 | * | Signet Jewelers Ltd | 29,040 | ||||
192 | * | Stamps.com, Inc | 1,968 | ||||
8,788 | Staples, Inc | 167,411 | |||||
151 | Systemax, Inc | 2,276 | |||||
1,496 | Tiffany & Co | 56,713 | |||||
191 | * | Vitamin Shoppe, Inc | 4,899 | ||||
11,782 | Walgreen Co | 314,579 | |||||
724 | World Fuel Services Corp | 18,781 | |||||
245 | * | Zumiez, Inc | 3,947 | ||||
TOTAL MISCELLANEOUS RETAIL | 2,118,583 | ||||||
MOTION PICTURES - 0.9% | |||||||
159 | * | Ascent Media Corp (Series A) | 4,016 | ||||
424 | * | Avid Technology, Inc | 5,398 | ||||
136 | * | Carmike Cinemas, Inc | 824 | ||||
610 | Cinemark Holdings, Inc | 8,022 | |||||
3,422 | * | Discovery Communications, Inc (Class A) | 122,200 | ||||
943 | * | DreamWorks Animation SKG, Inc (Class A) | 26,923 | ||||
823 | * | Lions Gate Entertainment Corp | 5,745 | ||||
460 | National CineMedia, Inc | 7,664 | |||||
27,608 | News Corp (Class A) | 330,191 | |||||
1,035 | Regal Entertainment Group (Class A) | 13,496 | |||||
114 | * | Rentrak Corp | 2,774 | ||||
1,230 | * | Rovi Corp | 46,629 | ||||
1,080 | Scripps Networks Interactive (Class A) | 43,567 | |||||
13,726 | Time Warner, Inc | 396,818 | |||||
1,772 | * | tw telecom inc (Class A) | 29,557 | ||||
7,281 | Viacom, Inc (Class B) | 228,405 | |||||
TOTAL MOTION PICTURES | 1,272,229 | ||||||
76
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
NONDEPOSITORY INSTITUTIONS - 0.9% | |||||||
700 | Advance America Cash Advance Centers, Inc | $ | 2,891 | ||||
4,101 | * | American Capital Ltd | 19,767 | ||||
12,581 | American Express Co | 499,466 | |||||
800 | * | AmeriCredit Corp | 14,576 | ||||
2,330 | Apollo Investment Corp | 21,739 | |||||
2,310 | Ares Capital Corp | 28,944 | |||||
133 | Asta Funding, Inc | 1,313 | |||||
678 | BlackRock Kelso Capital Corp | 6,692 | |||||
807 | * | Boise, Inc | 4,430 | ||||
5,497 | Capital One Financial Corp | 221,529 | |||||
3,675 | CapitalSource, Inc | 17,493 | |||||
8,820 | Chimera Investment Corp | 31,840 | |||||
2,384 | * | CIT Group, Inc | 80,722 | ||||
155 | CompuCredit Corp | 614 | |||||
103 | * | Credit Acceptance Corp | 5,023 | ||||
523 | Cypress Sharpridge Investments, Inc | 6,621 | |||||
6,550 | Discover Financial Services | 91,569 | |||||
92 | * | Doral Financial Corp | 224 | ||||
161 | * | Encore Capital Group, Inc | 3,318 | ||||
115 | Federal Agricultural Mortgage Corp (Class C) | 1,613 | |||||
363 | * | First Cash Financial Services, Inc | 7,913 | ||||
641 | * | First Marblehead Corp | 1,506 | ||||
252 | Gladstone Investment Corp | 1,469 | |||||
1,907 | * | GLG Partners, Inc | 8,353 | ||||
92 | Golub Capital BDC, Inc | 1,327 | |||||
954 | * | Heckmann Corp | 4,427 | ||||
426 | Hercules Technology Growth Capital, Inc | 3,923 | |||||
1,154 | Lender Processing Services, Inc | 36,132 | |||||
778 | MCG Capital Corp | 3,758 | |||||
175 | Medallion Financial Corp | 1,155 | |||||
320 | Nelnet, Inc (Class A) | 6,170 | |||||
341 | * | NewStar Financial, Inc | 2,169 | ||||
300 | NGP Capital Resources Co | 2,151 | |||||
499 | NRDC Acquisition Corp | 4,815 | |||||
892 | * | Ocwen Financial Corp | 9,089 | ||||
385 | PennantPark Investment Corp | 3,677 | |||||
639 | * | PHH Corp | 12,167 | ||||
5,809 | * | SLM Corp | 60,356 | ||||
69 | Solar Capital Ltd | 1,329 | |||||
42 | Student Loan Corp | 1,011 | |||||
104 | * | THL Credit, Inc | 1,196 | ||||
330 | TICC Capital Corp | 2,772 | |||||
90 | Triangle Capital Corp | 1,280 | |||||
199 | * | World Acceptance Corp | 7,624 | ||||
TOTAL NONDEPOSITORY INSTITUTIONS | 1,246,153 | ||||||
NONMETALLIC MINERALS, EXCEPT FUELS - 0.1% | |||||||
292 | AMCOL International Corp | 6,862 | |||||
404 | Compass Minerals International, Inc | 28,393 | |||||
1,260 | * | General Moly, Inc | 3,881 | ||||
30 | * | United States Lime & Minerals, Inc | 1,156 | ||||
1,507 | Vulcan Materials Co | 66,051 | |||||
TOTAL NONMETALLIC MINERALS, EXCEPT FUELS | 106,343 | ||||||
OIL AND GAS EXTRACTION - 4.2% | |||||||
802 | * | Abraxas Petroleum Corp | 2,246 | ||||
5,959 | Anadarko Petroleum Corp | 215,060 | |||||
4,061 | Apache Corp | 341,895 | |||||
180 | APCO Argentina, Inc | 4,232 | |||||
104 | * | Approach Resources, Inc | 716 | ||||
463 | * | Arena Resources, Inc | 14,770 | ||||
944 | Atlas America, Inc | 25,554 |
77
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
643 | * | ATP Oil & Gas Corp | $ | 6,809 | |||
675 | * | Atwood Oceanics, Inc | 17,226 | ||||
5,167 | Baker Hughes, Inc | 214,792 | |||||
448 | * | Basic Energy Services, Inc | 3,450 | ||||
617 | Berry Petroleum Co (Class A) | 15,869 | |||||
553 | * | Bill Barrett Corp | 17,016 | ||||
979 | * | Boots & Coots, Inc | 2,888 | ||||
1,428 | * | Brigham Exploration Co | 21,963 | ||||
1,249 | Cabot Oil & Gas Corp | 39,119 | |||||
1,143 | * | Cal Dive International, Inc | 6,687 | ||||
354 | * | Callon Petroleum Co | 2,230 | ||||
2,896 | * | Cameron International Corp | 94,178 | ||||
417 | * | Carrizo Oil & Gas, Inc | 6,476 | ||||
599 | * | Cheniere Energy, Inc | 1,689 | ||||
7,765 | Chesapeake Energy Corp | 162,677 | |||||
1,008 | Cimarex Energy Co | 72,153 | |||||
90 | * | Clayton Williams Energy, Inc | 3,791 | ||||
897 | * | Cobalt International Energy, Inc | 6,683 | ||||
935 | * | Complete Production Services, Inc | 13,371 | ||||
599 | * | Comstock Resources, Inc | 16,604 | ||||
1,089 | * | Concho Resources, Inc | 60,254 | ||||
151 | * | Contango Oil & Gas Co | 6,757 | ||||
365 | * | Continental Resources, Inc | 16,286 | ||||
80 | * | Dawson Geophysical Co | 1,702 | ||||
3,577 | * | Delta Petroleum Corp | 3,076 | ||||
4,811 | * | Denbury Resources, Inc | 70,433 | ||||
5,381 | Devon Energy Corp | 327,810 | |||||
829 | Diamond Offshore Drilling, Inc | 51,556 | |||||
1,293 | * | Endeavour International Corp | 1,371 | ||||
354 | * | Energy Partners Ltd | 4,322 | ||||
404 | * | Energy Recovery, Inc | 1,616 | ||||
607 | * | Energy XXI Bermuda Ltd | 9,578 | ||||
3,049 | EOG Resources, Inc | 299,929 | |||||
1,792 | Equitable Resources, Inc | 64,763 | |||||
1,767 | EXCO Resources, Inc | 25,816 | |||||
747 | * | Exterran Holdings, Inc | 19,280 | ||||
1,348 | * | Forest Oil Corp | 36,881 | ||||
386 | * | FX Energy, Inc | 1,397 | ||||
519 | * | Gastar Exploration Ltd | 1,874 | ||||
153 | * | Georesources, Inc | 2,131 | ||||
1,315 | * | Global Industries Ltd | 5,904 | ||||
510 | * | GMX Resources, Inc | 3,310 | ||||
321 | * | Goodrich Petroleum Corp | 3,852 | ||||
394 | * | Gulfport Energy Corp | 4,673 | ||||
10,902 | Halliburton Co | 267,644 | |||||
318 | * | Harvest Natural Resources, Inc | 2,344 | ||||
1,183 | * | Helix Energy Solutions Group, Inc | 12,741 | ||||
1,132 | Helmerich & Payne, Inc | 41,341 | |||||
1,501 | * | Hercules Offshore, Inc | 3,647 | ||||
220 | Houston American Energy Corp | 2,169 | |||||
13 | * | Isramco, Inc | 613 | ||||
107 | Kayne Anderson Energy Development Co | 1,623 | |||||
1,423 | * | Key Energy Services, Inc | 13,063 | ||||
1,429 | * | Kodiak Oil & Gas Corp | 4,559 | ||||
570 | * | Magnum Hunter Resources Corp | 2,485 | ||||
1,242 | * | Mariner Energy, Inc | 26,678 | ||||
974 | * | McMoRan Exploration Co | 10,821 | ||||
226 | * | Miller Petroleum, Inc | 1,302 | ||||
3,362 | * | Nabors Industries Ltd | 59,238 | ||||
5,048 | National Oilwell Varco, Inc | 166,937 | |||||
1,602 | * | Newfield Exploration Co | 78,274 | ||||
1,250 | * | Newpark Resources, Inc | 7,563 | ||||
2,103 | Noble Energy, Inc | 126,874 | |||||
566 | * | Northern Oil And Gas, Inc | 7,267 |
78
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
9,781 | Occidental Petroleum Corp | $ | 754,603 | ||||
663 | * | Oceaneering International, Inc | 29,769 | ||||
578 | * | Pacific Asia Petroleum, Inc | 2,156 | ||||
85 | Panhandle Oil and Gas, Inc (Class A) | 2,247 | |||||
1,722 | * | Parker Drilling Co | 6,802 | ||||
1,800 | Patterson-UTI Energy, Inc | 23,166 | |||||
551 | Penn Virginia Corp | 11,081 | |||||
3,628 | * | PetroHawk Energy Corp | 61,567 | ||||
229 | * | Petroleum Development Corp | 5,867 | ||||
815 | * | Petroquest Energy, Inc | 5,509 | ||||
568 | * | Pioneer Drilling Co | 3,221 | ||||
1,382 | Pioneer Natural Resources Co | 82,160 | |||||
1,680 | * | Plains Exploration & Production Co | 34,625 | ||||
222 | * | PowerSecure International, Inc | 2,018 | ||||
2,036 | * | Pride International, Inc | 45,484 | ||||
1,420 | * | Quicksilver Resources, Inc | 15,620 | ||||
671 | * | RAM Energy Resources, Inc | 1,389 | ||||
1,920 | Range Resources Corp | 77,088 | |||||
460 | * | Resolute Energy Corp | 5,630 | ||||
494 | * | Rex Energy Corp | 4,989 | ||||
1,317 | * | Rowan Cos, Inc | 28,895 | ||||
337 | RPC, Inc | 4,600 | |||||
14,364 | Schlumberger Ltd | 794,903 | |||||
272 | * | SEACOR Holdings, Inc | 19,220 | ||||
135 | * | Seahawk Drilling, Inc | 1,312 | ||||
2,992 | Smith International, Inc | 112,649 | |||||
4,170 | * | Southwestern Energy Co | 161,129 | ||||
754 | St. Mary Land & Exploration Co | 30,281 | |||||
539 | * | Stone Energy Corp | 6,015 | ||||
943 | * | Superior Energy Services | 17,606 | ||||
339 | * | Superior Well Services, Inc | 5,668 | ||||
457 | * | Swift Energy Co | 12,298 | ||||
787 | * | Syntroleum Corp | 1,291 | ||||
364 | * | Tesco Corp | 4,470 | ||||
974 | * | Tetra Technologies, Inc | 8,844 | ||||
617 | Tidewater, Inc | 23,890 | |||||
1,763 | * | TransAtlantic Petroleum Ltd | 5,589 | ||||
1,834 | * | Ultra Petroleum Corp | 81,155 | ||||
300 | * | Union Drilling, Inc | 1,653 | ||||
488 | * | Unit Corp | 19,808 | ||||
621 | Vaalco Energy, Inc | 3,478 | |||||
231 | * | Venoco, Inc | 3,805 | ||||
414 | W&T Offshore, Inc | 3,916 | |||||
580 | * | Warren Resources, Inc | 1,682 | ||||
8,906 | * | Weatherford International Ltd | 117,025 | ||||
614 | * | Whiting Petroleum Corp | 48,150 | ||||
442 | * | Willbros Group, Inc | 3,271 | ||||
TOTAL OIL AND GAS EXTRACTION | 5,889,492 | ||||||
PAPER AND ALLIED PRODUCTS - 0.5% | |||||||
1,312 | Bemis Co | 35,424 | |||||
520 | * | Buckeye Technologies, Inc | 5,174 | ||||
102 | * | Cellu Tissue Holdings, Inc | 793 | ||||
676 | * | Cenveo, Inc | 3,704 | ||||
508 | Domtar Corporation | 24,968 | |||||
553 | Glatfelter | 6,000 | |||||
1,659 | * | Graphic Packaging Holding Co | 5,226 | ||||
415 | Greif, Inc (Class A) | 23,049 | |||||
5,257 | International Paper Co | 118,966 | |||||
460 | * | Kapstone Paper and Packaging Corp | 5,124 | ||||
4,985 | Kimberly-Clark Corp | 302,242 | |||||
1,977 | MeadWestvaco Corp | 43,889 | |||||
162 | Neenah Paper, Inc | 2,965 |
79
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
1,223 | Packaging Corp of America | $ | 26,930 | ||||
462 | Rock-Tenn Co (Class A) | 22,948 | |||||
221 | Schweitzer-Mauduit International, Inc | 11,149 | |||||
1,203 | Sonoco Products Co | 36,667 | |||||
1,260 | Temple-Inland, Inc | 26,044 | |||||
784 | * | Wausau Paper Corp | 5,308 | ||||
TOTAL PAPER AND ALLIED PRODUCTS | 706,570 | ||||||
PERSONAL SERVICES - 0.1% | |||||||
1,502 | Cintas Corp | 36,003 | |||||
364 | * | Coinstar, Inc | 15,641 | ||||
58 | CPI Corp | 1,300 | |||||
387 | G & K Services, Inc (Class A) | 7,992 | |||||
3,964 | H&R Block, Inc | 62,195 | |||||
140 | Mac-Gray Corp | 1,560 | |||||
674 | Regis Corp | 10,494 | |||||
1,125 | * | Sally Beauty Holdings, Inc | 9,225 | ||||
2,964 | Service Corp International | 21,934 | |||||
185 | * | Steiner Leisure Ltd | 7,111 | ||||
155 | Unifirst Corp | 6,823 | |||||
402 | Weight Watchers International, Inc | 10,327 | |||||
TOTAL PERSONAL SERVICES | 190,605 | ||||||
PETROLEUM AND COAL PRODUCTS - 4.9% | |||||||
142 | Alon USA Energy, Inc | 903 | |||||
596 | * | American Oil & Gas, Inc | 3,743 | ||||
24,190 | Chevron Corp | 1,641,533 | |||||
17,923 | ConocoPhillips | 879,840 | |||||
359 | * | CVR Energy, Inc | 2,700 | ||||
69 | Delek US Holdings, Inc | 504 | |||||
61,489 | Exxon Mobil Corp | 3,509,179 | |||||
1,200 | Frontier Oil Corp | 16,140 | |||||
143 | * | Green Plains Renewable Energy, Inc | 1,461 | ||||
760 | * | Headwaters, Inc | 2,158 | ||||
3,510 | Hess Corp | 176,693 | |||||
524 | Holly Corp | 13,928 | |||||
8,544 | Marathon Oil Corp | 265,633 | |||||
2,306 | Murphy Oil Corp | 114,262 | |||||
116 | Quaker Chemical Corp | 3,142 | |||||
2,224 | * | SandRidge Energy, Inc | 12,966 | ||||
1,429 | Sunoco, Inc | 49,686 | |||||
1,671 | Tesoro Corp | 19,501 | |||||
6,819 | Valero Energy Corp | 122,606 | |||||
652 | Walter Industries, Inc | 39,674 | |||||
174 | WD-40 Co | 5,812 | |||||
605 | * | Western Refining, Inc | 3,043 | ||||
TOTAL PETROLEUM AND COAL PRODUCTS | 6,885,107 | ||||||
PIPELINES, EXCEPT NATURAL GAS - 0.1% | |||||||
7,929 | Spectra Energy Corp | 159,135 | |||||
TOTAL PIPELINES, EXCEPT NATURAL GAS | 159,135 | ||||||
PRIMARY METAL INDUSTRIES - 0.6% | |||||||
1,349 | AK Steel Holding Corp | 16,080 | |||||
12,151 | Alcoa, Inc | 122,239 | |||||
1,183 | Allegheny Technologies, Inc | 52,277 | |||||
565 | Belden CDT, Inc | 12,430 | |||||
300 | * | Brush Engineered Materials, Inc | 5,994 | ||||
574 | Carpenter Technology Corp | 18,844 | |||||
742 | * | Century Aluminum Co | 6,552 | ||||
255 | Encore Wire Corp | 4,638 |
80
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
640 | * | General Cable Corp | $ | 17,056 | |||
1,693 | * | Gerdau Ameristeel Corp | 18,454 | ||||
336 | * | Gibraltar Industries, Inc | 3,394 | ||||
743 | * | Globe Specialty Metals, Inc | 7,675 | ||||
128 | Haynes International, Inc | 3,946 | |||||
716 | * | Horsehead Holding Corp | 5,413 | ||||
728 | Hubbell, Inc (Class B) | 28,894 | |||||
367 | Matthews International Corp (Class A) | 10,746 | |||||
802 | * | Metalico, Inc | 3,192 | ||||
447 | Mueller Industries, Inc | 10,996 | |||||
133 | * | Noranda Aluminium Holding Corp | 855 | ||||
96 | * | Northwest Pipe Co | 1,824 | ||||
3,795 | Nucor Corp | 145,274 | |||||
89 | Olympic Steel, Inc | 2,044 | |||||
1,713 | Precision Castparts Corp | 176,303 | |||||
881 | Reliance Steel & Aluminum Co | 31,848 | |||||
362 | * | RTI International Metals, Inc | 8,728 | ||||
246 | Schnitzer Steel Industries, Inc (Class A) | 9,643 | |||||
2,595 | Steel Dynamics, Inc | 34,228 | |||||
298 | Texas Industries, Inc | 8,803 | |||||
1,028 | * | Titanium Metals Corp | 18,083 | ||||
314 | Tredegar Corp | 5,124 | |||||
1,738 | United States Steel Corp | 67,000 | |||||
72 | * | Universal Stainless & Alloy | 1,151 | ||||
1,254 | * | Uranium Energy Corp | 2,959 | ||||
735 | Worthington Industries, Inc | 9,452 | |||||
TOTAL PRIMARY METAL INDUSTRIES | 872,139 | ||||||
PRINTING AND PUBLISHING - 0.5% | |||||||
684 | * | ACCO Brands Corp | 3,413 | ||||
210 | * | AH Belo Corp (Class A) | 1,394 | ||||
479 | American Greetings Corp (Class A) | 8,986 | |||||
946 | * | Belo (A.H.) Corp (Class A) | 5,383 | ||||
800 | Bowne & Co, Inc | 8,976 | |||||
100 | * | Consolidated Graphics, Inc | 4,324 | ||||
73 | Courier Corp | 891 | |||||
46 | CSS Industries, Inc | 759 | |||||
605 | * | Dex One Corp | 11,495 | ||||
365 | * | Dolan Media Co | 4,059 | ||||
613 | Dun & Bradstreet Corp | 41,145 | |||||
269 | Ennis, Inc | 4,038 | |||||
354 | * | EW Scripps Co (Class A) | 2,630 | ||||
2,876 | Gannett Co, Inc | 38,711 | |||||
700 | Harte-Hanks, Inc | 7,315 | |||||
542 | John Wiley & Sons, Inc (Class A) | 20,959 | |||||
474 | * | Journal Communications, Inc (Class A) | 1,882 | ||||
552 | * | Lee Enterprises, Inc | 1,419 | ||||
239 | * | Martha Stewart Living Omnimedia, Inc (Class A) | 1,176 | ||||
732 | * | McClatchy Co (Class A) | 2,664 | ||||
3,803 | McGraw-Hill Cos, Inc | 107,016 | |||||
261 | * | Media General, Inc (Class A) | 2,547 | ||||
426 | Meredith Corp | 13,261 | |||||
1,326 | * | MSCI, Inc (Class A) | 36,332 | ||||
105 | Multi-Color Corp | 1,075 | |||||
1,565 | * | New York Times Co (Class A) | 13,537 | ||||
100 | * | Playboy Enterprises, Inc (Class B) | 420 | ||||
343 | * | Presstek, Inc | 1,211 | ||||
485 | Primedia, Inc | 1,421 | |||||
2,448 | R.R. Donnelley & Sons Co | 40,074 | |||||
100 | Schawk, Inc (Class A) | 1,495 | |||||
365 | Scholastic Corp | 8,804 | |||||
235 | Standard Register Co | 738 | |||||
157 | * | SuperMedia, Inc | 2,872 |
81
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
4,505 | Thomson Corp | $ | 161,415 | ||||
601 | * | Valassis Communications, Inc | 19,064 | ||||
527 | * | VistaPrint Ltd | 25,027 | ||||
77 | Washington Post Co (Class B) | 31,607 | |||||
TOTAL PRINTING AND PUBLISHING | 639,535 | ||||||
RAILROAD TRANSPORTATION - 0.7% | |||||||
4,688 | CSX Corp | 232,665 | |||||
480 | * | Genesee & Wyoming, Inc (Class A) | 17,909 | ||||
1,198 | * | Kansas City Southern Industries, Inc | 43,547 | ||||
4,457 | Norfolk Southern Corp | 236,444 | |||||
308 | * | RailAmerica, Inc | 3,055 | ||||
6,095 | Union Pacific Corp | 423,664 | |||||
TOTAL RAILROAD TRANSPORTATION | 957,284 | ||||||
REAL ESTATE - 0.1% | |||||||
3,368 | * | CB Richard Ellis Group, Inc (Class A) | 45,838 | ||||
59 | Consolidated-Tomoka Land Co | 1,682 | |||||
513 | DuPont Fabros Technology, Inc | 12,599 | |||||
1,536 | * | Forest City Enterprises, Inc (Class A) | 17,388 | ||||
498 | * | Forestar Real Estate Group, Inc | 8,944 | ||||
297 | Government Properties Income Trust | 7,579 | |||||
506 | Jones Lang LaSalle, Inc | 33,214 | |||||
255 | * | Kennedy-Wilson Holdings, Inc | 2,576 | ||||
297 | * | LoopNet, Inc | 3,662 | ||||
1,116 | * | St. Joe Co | 25,847 | ||||
1,142 | Stewart Enterprises, Inc (Class A) | 6,178 | |||||
408 | Thomas Properties Group, Inc | 1,350 | |||||
TOTAL REAL ESTATE | 166,857 | ||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.2% | |||||||
412 | A. Schulman, Inc | 7,812 | |||||
78 | * | AEP Industries, Inc | 1,863 | ||||
700 | Cooper Tire & Rubber Co | 13,650 | |||||
158 | * | Deckers Outdoor Corp | 22,573 | ||||
2,887 | * | Goodyear Tire & Rubber Co | 28,697 | ||||
207 | * | Graham Packaging Co, Inc | 2,478 | ||||
59 | Lacrosse Footwear, Inc | 994 | |||||
431 | * | Metabolix, Inc | 6,168 | ||||
3,303 | Newell Rubbermaid, Inc | 48,355 | |||||
1,913 | Sealed Air Corp | 37,723 | |||||
403 | * | Skechers U.S.A., Inc (Class A) | 14,718 | ||||
370 | * | Spartech Corp | 3,793 | ||||
345 | * | STR Holdings, Inc | 6,486 | ||||
512 | Titan International, Inc | 5,105 | |||||
189 | * | Trex Co, Inc | 3,797 | ||||
737 | Tupperware Corp | 29,368 | |||||
397 | West Pharmaceutical Services, Inc | 14,487 | |||||
TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 248,067 | ||||||
SECURITY AND COMMODITY BROKERS - 2.1% | |||||||
3,099 | Ameriprise Financial, Inc | 111,967 | |||||
341 | Artio Global Investors, Inc | 5,367 | |||||
422 | BlackRock, Inc | 60,515 | |||||
945 | * | Broadpoint Securities Group, Inc | 2,410 | ||||
1,693 | Broadridge Financial Solutions, Inc | 32,252 | |||||
200 | Calamos Asset Management, Inc (Class A) | 1,856 | |||||
11,919 | Charles Schwab Corp | 169,011 | |||||
791 | CME Group, Inc | 222,706 | |||||
207 | Cohen & Steers, Inc | 4,293 | |||||
436 | * | Cowen Group, Inc | 1,788 | ||||
22 | Diamond Hill Investment Group, Inc | 1,247 | |||||
332 | Duff & Phelps Corp | 4,193 |
82
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
2,652 | * | E*Trade Financial Corp | $ | 31,347 | |||
1,406 | Eaton Vance Corp | 38,820 | |||||
160 | Epoch Holding Corp | 1,963 | |||||
186 | Evercore Partners, Inc (Class A) | 4,343 | |||||
653 | * | FBR Capital Markets Corp | 2,174 | ||||
1,069 | Federated Investors, Inc (Class B) | 22,139 | |||||
544 | Fifth Street Finance Corp | 6,000 | |||||
1,806 | Franklin Resources, Inc | 155,659 | |||||
80 | Friedman Billings Ramsey Group, Inc (Class A) | 1,506 | |||||
69 | GAMCO Investors, Inc (Class A) | 2,567 | |||||
704 | GFI Group, Inc | 3,928 | |||||
6,200 | Goldman Sachs Group, Inc | 813,873 | |||||
354 | Greenhill & Co, Inc | 21,640 | |||||
441 | * | Interactive Brokers Group, Inc (Class A) | 7,321 | ||||
890 | * | IntercontinentalExchange, Inc | 100,597 | ||||
153 | * | International Assets Holding Corp | 2,448 | ||||
5,225 | Invesco Ltd | 87,937 | |||||
524 | * | Investment Technology Group, Inc | 8,415 | ||||
2,289 | Janus Capital Group, Inc | 20,326 | |||||
1,431 | Jefferies Group, Inc | 30,165 | |||||
173 | JMP Group, Inc | 1,071 | |||||
422 | * | KBW, Inc | 9,048 | ||||
1,234 | * | Knight Capital Group, Inc (Class A) | 17,017 | ||||
453 | * | LaBranche & Co, Inc | 1,939 | ||||
1,144 | * | Ladenburg Thalmann Financial Services, Inc | 1,430 | ||||
1,108 | Lazard Ltd (Class A) | 29,595 | |||||
1,997 | Legg Mason, Inc | 55,976 | |||||
383 | MarketAxess Holdings, Inc | 5,282 | |||||
1,193 | * | MF Global Holdings Ltd | 6,812 | ||||
16,835 | Morgan Stanley | 390,740 | |||||
265 | * | Morningstar, Inc | 11,268 | ||||
1,637 | * | Nasdaq Stock Market, Inc | 29,106 | ||||
3,159 | NYSE Euronext | 87,283 | |||||
116 | Oppenheimer Holdings, Inc | 2,778 | |||||
480 | * | optionsXpress Holdings, Inc | 7,555 | ||||
300 | * | Penson Worldwide, Inc | 1,692 | ||||
236 | * | Piper Jaffray Cos | 7,604 | ||||
90 | Pzena Investment Management, Inc (Class A) | 573 | |||||
1,150 | Raymond James Financial, Inc | 28,394 | |||||
209 | Sanders Morris Harris Group, Inc | 1,160 | |||||
1,802 | SEI Investments Co | 36,689 | |||||
374 | * | Stifel Financial Corp | 16,228 | ||||
289 | SWS Group, Inc | 2,746 | |||||
3,162 | T Rowe Price Group, Inc | 140,361 | |||||
2,921 | * | TD Ameritrade Holding Corp | 44,691 | ||||
565 | *,m | Thomas Weisel Partners Group, Inc | 3,328 | ||||
1,037 | Waddell & Reed Financial, Inc (Class A) | 22,690 | |||||
61 | Westwood Holdings Group, Inc | 2,144 | |||||
TOTAL SECURITY AND COMMODITY BROKERS | 2,945,973 | ||||||
SOCIAL SERVICES - 0.0% | |||||||
236 | * | Capital Senior Living Corp | 1,173 | ||||
97 | * | Providence Service Corp | 1,358 | ||||
319 | * | Res-Care, Inc | 3,081 | ||||
TOTAL SOCIAL SERVICES | 5,612 | ||||||
SPECIAL TRADE CONTRACTORS - 0.1% | |||||||
100 | Alico, Inc | 2,298 | |||||
281 | Chemed Corp | 15,354 | |||||
1,217 | * | Chicago Bridge & Iron Co NV (ADR) | 22,892 | ||||
409 | Comfort Systems USA, Inc | 3,951 | |||||
596 | * | Dycom Industries, Inc | 5,096 |
83
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
772 | * | EMCOR Group, Inc | $ | 17,887 | |||
466 | * | Insituform Technologies, Inc (Class A) | 9,544 | ||||
220 | * | Layne Christensen Co | 5,339 | ||||
2,530 | * | Quanta Services, Inc | 52,244 | ||||
TOTAL SPECIAL TRADE CONTRACTORS | 134,605 | ||||||
STONE, CLAY, AND GLASS PRODUCTS - 0.4% | |||||||
311 | Apogee Enterprises, Inc | 3,368 | |||||
350 | * | Cabot Microelectronics Corp | 12,107 | ||||
235 | CARBO Ceramics, Inc | 16,965 | |||||
18,796 | Corning, Inc | 303,556 | |||||
525 | Eagle Materials, Inc | 13,613 | |||||
1,676 | Gentex Corp | 30,134 | |||||
193 | * | Libbey, Inc | 2,505 | ||||
547 | Martin Marietta Materials, Inc | 46,391 | |||||
1,345 | * | Owens Corning, Inc | 40,229 | ||||
1,985 | * | Owens-Illinois, Inc | 52,503 | ||||
813 | * | USG Corp | 9,821 | ||||
TOTAL STONE, CLAY, AND GLASS PRODUCTS | 531,192 | ||||||
TEXTILE MILL PRODUCTS - 0.0% | |||||||
301 | Albany International Corp (Class A) | 4,873 | |||||
109 | * | Culp, Inc | 1,195 | ||||
67 | * | Delta Apparel, Inc | 978 | ||||
597 | Interface, Inc (Class A) | 6,412 | |||||
664 | * | Mohawk Industries, Inc | 30,385 | ||||
200 | Oxford Industries, Inc | 4,186 | |||||
95 | *,b | Xerium Technologies, Inc | 1,341 | ||||
TOTAL TEXTILE MILL PRODUCTS | 49,370 | ||||||
TOBACCO PRODUCTS - 1.2% | |||||||
25,081 | Altria Group, Inc | 502,623 | |||||
1,783 | Fortune Brands, Inc | 69,858 | |||||
1,840 | Lorillard, Inc | 132,443 | |||||
22,303 | Philip Morris International, Inc | 1,022,370 | |||||
302 | Universal Corp | 11,983 | |||||
467 | Vector Group Ltd | 7,855 | |||||
TOTAL TOBACCO PRODUCTS | 1,747,132 | ||||||
TRANSPORTATION BY AIR - 0.3% | |||||||
114 | * | Air Methods Corp | 3,392 | ||||
776 | * | Air Transport Services Group, Inc | 3,694 | ||||
1,455 | * | Airtran Holdings, Inc | 7,057 | ||||
431 | * | Alaska Air Group, Inc | 19,373 | ||||
191 | Allegiant Travel Co | 8,154 | |||||
4,021 | * | AMR Corp | 27,262 | ||||
331 | * | Atlas Air Worldwide Holdings, Inc | 15,723 | ||||
433 | * | Bristow Group, Inc | 12,730 | ||||
1,494 | * | Continental Airlines, Inc (Class B) | 32,868 | ||||
371 | Copa Holdings S.A. (Class A) | 16,406 | |||||
9,302 | * | Delta Air Lines, Inc | 109,299 | ||||
633 | * | Hawaiian Holdings, Inc | 3,273 | ||||
2,933 | * | JetBlue Airways Corp | 16,102 | ||||
149 | * | PHI, Inc | 2,099 | ||||
219 | * | Pinnacle Airlines | 1,191 | ||||
421 | * | Republic Airways Holdings, Inc | 2,572 | ||||
692 | Skywest, Inc | 8,456 | |||||
8,968 | Southwest Airlines Co | 99,634 | |||||
2,024 | * | UAL Corp | 41,613 | ||||
2,013 | * | US Airways Group, Inc | 17,332 | ||||
TOTAL TRANSPORTATION BY AIR | 448,230 | ||||||
84
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
TRANSPORTATION EQUIPMENT - 2.6% | |||||||
286 | A.O. Smith Corp | $ | 13,782 | ||||
468 | * | AAR Corp | 7,834 | ||||
168 | * | Aerovironment, Inc | 3,651 | ||||
839 | * | American Axle & Manufacturing Holdings, Inc | 6,150 | ||||
90 | American Railcar Industries, Inc | 1,087 | |||||
234 | * | Amerigon, Inc (Class A) | 1,727 | ||||
148 | * | Arctic Cat, Inc | 1,348 | ||||
1,176 | * | ArvinMeritor, Inc | 15,406 | ||||
237 | * | ATC Technology Corp | 3,820 | ||||
1,010 | * | Autoliv, Inc | 48,329 | ||||
1,148 | * | BE Aerospace, Inc | 29,194 | ||||
9,130 | Boeing Co | 572,907 | |||||
1,127 | Brunswick Corp | 14,009 | |||||
615 | Clarcor, Inc | 21,845 | |||||
1,719 | * | Dana Holding Corp | 17,190 | ||||
133 | * | Dorman Products, Inc | 2,704 | ||||
121 | Ducommun, Inc | 2,069 | |||||
261 | * | Federal Mogul Corp (Class A) | 3,398 | ||||
743 | Federal Signal Corp | 4,488 | |||||
1,262 | * | Force Protection, Inc | 5,174 | ||||
40,167 | * | Ford Motor Co | 404,882 | ||||
227 | Freightcar America, Inc | 5,135 | |||||
140 | * | Fuel Systems Solutions, Inc | 3,633 | ||||
575 | * | GenCorp, Inc | 2,519 | ||||
4,162 | General Dynamics Corp | 243,726 | |||||
1,912 | Genuine Parts Co | 75,428 | |||||
1,495 | Goodrich Corp | 99,044 | |||||
231 | * | Greenbrier Cos, Inc | 2,587 | ||||
300 | * | Group 1 Automotive, Inc | 7,059 | ||||
2,834 | Harley-Davidson, Inc | 63,000 | |||||
969 | Harsco Corp | 22,772 | |||||
347 | Heico Corp | 12,464 | |||||
9,231 | Honeywell International, Inc | 360,285 | |||||
380 | Kaman Corp | 8,406 | |||||
563 | * | Lear Corp | 37,271 | ||||
101 | * | LMI Aerospace, Inc | 1,593 | ||||
3,722 | Lockheed Martin Corp | 277,288 | |||||
115 | Miller Industries, Inc | 1,549 | |||||
855 | * | Navistar International Corp | 42,066 | ||||
706 | * | Orbital Sciences Corp | 11,134 | ||||
1,078 | * | Oshkosh Truck Corp | 33,590 | ||||
4,395 | Paccar, Inc | 175,229 | |||||
379 | Polaris Industries, Inc | 20,701 | |||||
355 | Spartan Motors, Inc | 1,491 | |||||
1,276 | * | Spirit Aerosystems Holdings, Inc (Class A) | 24,321 | ||||
188 | Standard Motor Products, Inc | 1,517 | |||||
280 | Superior Industries International, Inc | 3,763 | |||||
743 | * | Tenneco, Inc | 15,648 | ||||
400 | Thor Industries, Inc | 9,500 | |||||
530 | TransDigm Group, Inc | 27,046 | |||||
964 | Trinity Industries, Inc | 17,082 | |||||
201 | Triumph Group, Inc | 13,393 | |||||
943 | * | TRW Automotive Holdings Corp | 25,999 | ||||
11,183 | United Technologies Corp | 725,888 | |||||
717 | * | Wabash National Corp | 5,098 | ||||
577 | Westinghouse Air Brake Technologies Corp | 23,017 | |||||
353 | * | Winnebago Industries, Inc | 3,509 | ||||
TOTAL TRANSPORTATION EQUIPMENT | 3,584,745 | ||||||
TRANSPORTATION SERVICES - 0.4% | |||||||
184 | Ambassadors Group, Inc | 2,077 | |||||
1,997 | CH Robinson Worldwide, Inc | 111,153 | |||||
121 | * | Dynamex, Inc | 1,476 |
85
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
134 | * | Echo Global Logistics, Inc | $ | 1,636 | |||
2,563 | Expeditors International Washington, Inc | 88,449 | |||||
3,773 | FedEx Corp | 264,526 | |||||
538 | GATX Corp | 14,354 | |||||
500 | * | Hub Group, Inc (Class A) | 15,005 | ||||
474 | * | Interval Leisure Group, Inc | 5,901 | ||||
482 | * | Orbitz Worldwide, Inc | 1,836 | ||||
443 | * | Pacer International, Inc | 3,097 | ||||
125 | * | Roadrunner Transportation Services Holdings, Inc | 1,776 | ||||
1,203 | UTI Worldwide, Inc | 14,893 | |||||
TOTAL TRANSPORTATION SERVICES | 526,179 | ||||||
TRUCKING AND WAREHOUSING - 0.4% | |||||||
300 | Arkansas Best Corp | 6,225 | |||||
250 | * | Celadon Group, Inc | 3,535 | ||||
648 | Con-way, Inc | 19,453 | |||||
348 | Forward Air Corp | 9,483 | |||||
666 | Heartland Express, Inc | 9,670 | |||||
1,049 | J.B. Hunt Transport Services, Inc | 34,271 | |||||
605 | Landstar System, Inc | 23,589 | |||||
384 | * | Marten Transport Ltd | 7,980 | ||||
331 | * | Old Dominion Freight Line | 11,631 | ||||
16 | * | Patriot Transportation Holding, Inc | 1,295 | ||||
133 | * | Saia, Inc | 1,995 | ||||
8,569 | United Parcel Service, Inc (Class B) | 487,490 | |||||
68 | * | Universal Truckload Services, Inc | 947 | ||||
90 | * | USA Truck, Inc | 1,451 | ||||
511 | Werner Enterprises, Inc | 11,186 | |||||
TOTAL TRUCKING AND WAREHOUSING | 630,201 | ||||||
WATER TRANSPORTATION - 0.3% | |||||||
464 | Alexander & Baldwin, Inc | 13,818 | |||||
168 | * | American Commercial Lines, Inc | 3,782 | ||||
198 | * | Baltic Trading Ltd | 2,251 | ||||
5,267 | Carnival Corp | 159,273 | |||||
449 | DHT Maritime, Inc | 1,729 | |||||
930 | * | Eagle Bulk Shipping, Inc | 3,925 | ||||
469 | * | Excel Maritime Carriers Ltd | 2,401 | ||||
623 | Frontline Ltd | 17,780 | |||||
344 | * | Genco Shipping & Trading Ltd | 5,157 | ||||
570 | General Maritime Corp | 3,443 | |||||
383 | Golar LNG Ltd | 3,780 | |||||
287 | * | Gulfmark Offshore, Inc | 7,519 | ||||
369 | Horizon Lines, Inc (Class A) | 1,561 | |||||
301 | * | Hornbeck Offshore Services, Inc | 4,395 | ||||
64 | International Shipholding Corp | 1,416 | |||||
624 | * | Kirby Corp | 23,868 | ||||
185 | Knightsbridge Tankers Ltd | 3,254 | |||||
562 | Nordic American Tanker Shipping | 15,787 | |||||
283 | Overseas Shipholding Group, Inc | 10,482 | |||||
1,568 | * | Royal Caribbean Cruises Ltd | 35,703 | ||||
156 | * | Scorpio Tankers, Inc | 1,786 | ||||
482 | Ship Finance International Ltd | 8,618 | |||||
480 | Teekay Corp | 12,562 | |||||
320 | Teekay Tankers Ltd (Class A) | 3,562 | |||||
833 | * | Ultrapetrol Bahamas Ltd | 3,624 | ||||
TOTAL WATER TRANSPORTATION | 351,476 | ||||||
WHOLESALE TRADE-DURABLE GOODS - 0.4% | |||||||
400 | Agilysys, Inc | 2,676 | |||||
508 | Applied Industrial Technologies, Inc | 12,863 | |||||
1,424 | * | Arrow Electronics, Inc | 31,826 | ||||
162 | * | Ballantyne Strong, Inc | 1,173 |
86
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
565 | Barnes Group, Inc | $ | 9,260 | ||||
543 | * | Beacon Roofing Supply, Inc | 9,785 | ||||
1,424 | * | BorgWarner, Inc | 53,171 | ||||
396 | * | Cardtronics, Inc | 5,132 | ||||
200 | * | Castle (A.M.) & Co | 2,778 | ||||
128 | * | Chindex International, Inc | 1,604 | ||||
342 | * | Conceptus, Inc | 5,328 | ||||
229 | * | DemandTec, Inc | 1,546 | ||||
400 | * | Digi International, Inc | 3,308 | ||||
290 | * | Drew Industries, Inc | 5,858 | ||||
340 | * | Emdeon, Inc | 4,260 | ||||
191 | * | Hansen Medical, Inc | 407 | ||||
186 | Houston Wire & Cable Co | 2,018 | |||||
2,058 | * | Ingram Micro, Inc (Class A) | 31,261 | ||||
655 | * | Insight Enterprises, Inc | 8,620 | ||||
392 | * | Interline Brands, Inc | 6,778 | ||||
691 | Knight Transportation, Inc | 13,986 | |||||
45 | Lawson Products, Inc | 764 | |||||
1,720 | * | LKQ Corp | 33,162 | ||||
486 | * | MedAssets, Inc | 11,217 | ||||
314 | * | Merge Healthcare, Inc | 920 | ||||
135 | * | Metals USA Holdings Corp | 2,018 | ||||
131 | * | MWI Veterinary Supply, Inc | 6,584 | ||||
754 | Owens & Minor, Inc | 21,399 | |||||
1,289 | Patterson Cos, Inc | 36,775 | |||||
614 | PEP Boys - Manny Moe & Jack | 5,440 | |||||
567 | Pool Corp | 12,429 | |||||
731 | * | PSS World Medical, Inc | 15,461 | ||||
839 | Solera Holdings, Inc | 30,372 | |||||
88 | Sport Supply Group, Inc | 1,184 | |||||
614 | * | Talecris Biotherapeutics Holdings Corp | 12,955 | ||||
616 | * | Tech Data Corp | 21,942 | ||||
82 | * | Titan Machinery, Inc | 1,077 | ||||
466 | * | TomoTherapy, Inc | 1,482 | ||||
432 | * | Tyler Technologies, Inc | 6,705 | ||||
745 | W.W. Grainger, Inc | 74,089 | |||||
516 | * | WESCO International, Inc | 17,374 | ||||
178 | * | West Marine, Inc | 1,937 | ||||
TOTAL WHOLESALE TRADE-DURABLE GOODS | 528,924 | ||||||
WHOLESALE TRADE-NONDURABLE GOODS - 0.6% | |||||||
282 | Aceto Corp | 1,616 | |||||
991 | Airgas, Inc | 61,640 | |||||
1,200 | * | Akorn, Inc | 3,564 | ||||
1,062 | * | Alliance One International, Inc | 3,781 | ||||
756 | * | Allscripts Healthcare Solutions, Inc | 12,172 | ||||
207 | Andersons, Inc | 6,746 | |||||
496 | * | BioScrip, Inc | 2,599 | ||||
299 | * | BMP Sunstone Corp | 1,540 | ||||
1,272 | Brown-Forman Corp (Class B) | 72,797 | |||||
4,360 | Cardinal Health, Inc | 146,540 | |||||
841 | * | Central European Distribution Corp | 17,981 | ||||
141 | * | Clearwater Paper Corp | 7,721 | ||||
108 | * | Core-Mark Holding Co, Inc | 2,959 | ||||
1,415 | * | Endo Pharmaceuticals Holdings, Inc | 30,875 | ||||
476 | * | Fresh Del Monte Produce, Inc | 9,634 | ||||
1,331 | * | Green Mountain Coffee Roasters, Inc | 34,207 | ||||
490 | * | Hain Celestial Group, Inc | 9,883 | ||||
1,121 | * | Henry Schein, Inc | 61,543 | ||||
744 | Herbalife Ltd | 34,261 | |||||
100 | * | Kenneth Cole Productions, Inc (Class A) | 1,101 | ||||
139 | * | KRATON Polymers LLC | 2,612 | ||||
330 | * | K-Swiss, Inc (Class A) | 3,706 | ||||
161 | * | LSB Industries, Inc | 2,143 |
87
TIAA-CREF LIFE FUNDS - Stock Index Fund
SHARES | COMPANY | VALUE | |||||
593 | Men’s Wearhouse, Inc | $ | 10,887 | ||||
426 | Myers Industries, Inc | 3,446 | |||||
180 | Nash Finch Co | 6,149 | |||||
559 | Nu Skin Enterprises, Inc (Class A) | 13,936 | |||||
161 | * | Perry Ellis International, Inc | 3,252 | ||||
241 | * | School Specialty, Inc | 4,355 | ||||
217 | Spartan Stores, Inc | 2,977 | |||||
215 | * | Synutra International, Inc | 3,477 | ||||
7,125 | Sysco Corp | 203,561 | |||||
432 | Tractor Supply Co | 26,339 | |||||
518 | * | United Natural Foods, Inc | 15,478 | ||||
306 | * | United Stationers, Inc | 16,668 | ||||
225 | * | Volcom, Inc | 4,178 | ||||
260 | Zep, Inc | 4,534 | |||||
TOTAL WHOLESALE TRADE-NONDURABLE GOODS | 850,858 | ||||||
TOTAL COMMON STOCKS (Cost $155,339,017) | 140,250,736 | ||||||
RIGHTS / WARRANTS - 0.0% | |||||||
OIL AND GAS EXTRACTION - 0.0% | |||||||
88 | m | Zion Oil & Gas, Inc | 2 | ||||
TOTAL OIL AND GAS EXTRACTION | 2 | ||||||
TOTAL RIGHTS / WARRANTS (Cost $0) | 2 | ||||||
TOTAL INVESTMENTS - 99.9% (Cost $155,339,017) | 140,250,738 | ||||||
OTHER ASSETS & LIABILITIES, NET - 0.1% | 145,385 | ||||||
NET ASSETS - 100.0% | $ | 140,396,123 | |||||
Abbreviation(s):
ADR American Depositary Receipt
REIT Real Estate Investment Trust
* | Non-income producing. |
b | In bankruptcy. |
m | Indicates a security that has been deemed illiquid. |
88
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
TIAA-CREF LIFE FUNDS
SOCIAL CHOICE EQUITY FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 99.2% | |||||||
AGRICULTURAL SERVICES - 0.0% | |||||||
303 | * | VCA Antech, Inc | $ | 7,502 | |||
TOTAL AGRICULTURAL SERVICES | 7,502 | ||||||
AMUSEMENT AND RECREATION SERVICES - 1.0% | |||||||
200 | * | Electronic Arts, Inc | 2,880 | ||||
9,717 | Walt Disney Co | 306,086 | |||||
TOTAL AMUSEMENT AND RECREATION SERVICES | 308,966 | ||||||
APPAREL AND ACCESSORY STORES - 1.0% | |||||||
807 | * | American Apparel, Inc | 1,477 | ||||
600 | American Eagle Outfitters, Inc | 7,050 | |||||
89 | * | AnnTaylor Stores Corp | 1,448 | ||||
100 | * | Charming Shoppes, Inc | 375 | ||||
400 | Chico’s FAS, Inc | 3,952 | |||||
400 | Foot Locker, Inc | 5,048 | |||||
3,365 | Gap, Inc | 65,483 | |||||
1,288 | * | Kohl’s Corp | 61,180 | ||||
1,800 | Limited Brands, Inc | 39,726 | |||||
800 | Nordstrom, Inc | 25,752 | |||||
2,210 | TJX Companies, Inc | 92,709 | |||||
TOTAL APPAREL AND ACCESSORY STORES | 304,200 | ||||||
APPAREL AND OTHER TEXTILE PRODUCTS - 0.9% | |||||||
382 | * | Liz Claiborne, Inc | 1,612 | ||||
3,032 | Nike, Inc (Class B) | 204,811 | |||||
200 | Phillips-Van Heusen Corp | 9,254 | |||||
100 | Polo Ralph Lauren Corp (Class A) | 7,296 | |||||
2,435 | * | Quiksilver, Inc | 9,010 | ||||
279 | VF Corp | 19,859 | |||||
TOTAL APPAREL AND OTHER TEXTILE PRODUCTS | 251,842 | ||||||
AUTO REPAIR, SERVICES AND PARKING - 0.1% | |||||||
153 | * | Dollar Thrifty Automotive Group, Inc | 6,520 | ||||
544 | * | Hertz Global Holdings, Inc | 5,146 | ||||
68 | Ryder System, Inc | 2,736 | |||||
162 | * | Wright Express Corp | 4,811 | ||||
TOTAL AUTO REPAIR, SERVICES AND PARKING | 19,213 | ||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.2% | |||||||
200 | * | Autozone, Inc | 38,645 | ||||
456 | * | Carmax, Inc | 9,074 | ||||
77 | * | Copart, Inc | 2,757 | ||||
TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS | 50,476 | ||||||
BUILDING MATERIALS AND GARDEN SUPPLIES - 1.3% | |||||||
515 | * | Builders FirstSource, Inc | 1,236 | ||||
115 | Fastenal Co | 5,772 | |||||
9,042 | Home Depot, Inc | 253,809 | |||||
5,957 | Lowe’s Cos, Inc | 121,642 | |||||
TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES | 382,459 | ||||||
89
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
BUSINESS SERVICES - 6.5% | |||||||
301 | * | 3D Systems Corp | $ | 3,778 | |||
2,043 | * | Adobe Systems, Inc | 53,996 | ||||
330 | Aircastle Ltd | 2,591 | |||||
463 | * | Akamai Technologies, Inc | 18,784 | ||||
249 | * | Alliance Data Systems Corp | 14,820 | ||||
1,116 | * | Art Technology Group, Inc | 3,817 | ||||
694 | * | Autodesk, Inc | 16,906 | ||||
4,793 | Automatic Data Processing, Inc | 192,966 | |||||
61 | * | Blackboard, Inc | 2,277 | ||||
200 | * | Blue Coat Systems, Inc | 4,086 | ||||
404 | * | BPZ Energy, Inc | 1,677 | ||||
190 | * | Ciber, Inc | 526 | ||||
460 | * | Cogent, Inc | 4,145 | ||||
593 | * | Compuware Corp | 4,732 | ||||
100 | * | CSG Systems International, Inc | 1,833 | ||||
160 | Deluxe Corp | 3,000 | |||||
327 | * | DivX, Inc | 2,505 | ||||
493 | DST Systems, Inc | 17,817 | |||||
647 | Earthlink, Inc | 5,150 | |||||
4,478 | * | eBay, Inc | 87,814 | ||||
868 | Expedia, Inc | 16,301 | |||||
169 | Fair Isaac Corp | 3,683 | |||||
405 | Fidelity National Information Services, Inc | 10,862 | |||||
862 | * | Google, Inc (Class A) | 383,547 | ||||
584 | * | Informatica Corp | 13,946 | ||||
1,885 | Innovative Solutions & Support, Inc | 8,294 | |||||
73 | Interactive Data Corp | 2,437 | |||||
400 | * | Internap Network Services Corp | 1,668 | ||||
369 | Iron Mountain, Inc | 8,288 | |||||
390 | Jack Henry & Associates, Inc | 9,313 | |||||
300 | * | Lamar Advertising Co (Class A) | 7,356 | ||||
626 | * | Lawson Software, Inc | 4,570 | ||||
242 | * | Lionbridge Technologies | 1,106 | ||||
205 | * | Liquidity Services, Inc | 2,657 | ||||
498 | * | Magma Design Automation, Inc | 1,414 | ||||
239 | Manpower, Inc | 10,320 | |||||
249 | Marchex, Inc (Class B) | 959 | |||||
271 | * | Mentor Graphics Corp | 2,398 | ||||
25,743 | Microsoft Corp | 592,346 | |||||
214 | * | ModusLink Global Solutions, Inc | 1,290 | ||||
2,745 | * | MoneyGram International, Inc | 6,725 | ||||
544 | * | Monster Worldwide, Inc | 6,338 | ||||
531 | * | Network Equipment Technologies, Inc | 1,853 | ||||
1,258 | NIC, Inc | 8,064 | |||||
1,918 | * | Novell, Inc | 10,894 | ||||
2,607 | Omnicom Group, Inc | 89,420 | |||||
268 | * | PDF Solutions, Inc | 1,286 | ||||
77 | Pegasystems, Inc | 2,472 | |||||
975 | * | Radisys Corp | 9,282 | ||||
819 | * | RealNetworks, Inc | 2,703 | ||||
645 | * | Red Hat, Inc | 18,666 | ||||
734 | Robert Half International, Inc | 17,286 | |||||
452 | * | S1 Corp | 2,717 | ||||
267 | * | Salesforce.com, Inc | 22,914 | ||||
500 | Sapient Corp | 5,070 | |||||
196 | * | Smith Micro Software, Inc | 1,864 | ||||
363 | * | SonicWALL, Inc | 4,265 | ||||
173 | * | Sybase, Inc | 11,186 | ||||
4,019 | * | Symantec Corp | 55,784 | ||||
1,069 | * | TIBCO Software, Inc | 12,892 | ||||
480 | * | TNS, Inc | 8,371 | ||||
1,463 | Total System Services, Inc | 19,897 | |||||
146 | * | Ultimate Software Group, Inc | 4,798 |
90
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
249 | United Online, Inc | $ | 1,434 | ||||
273 | * | Vasco Data Security International | 1,684 | ||||
4,015 | * | Yahoo!, Inc | 55,527 | ||||
TOTAL BUSINESS SERVICES | 1,909,367 | ||||||
CHEMICALS AND ALLIED PRODUCTS - 12.0% | |||||||
2,260 | Abbott Laboratories | 105,723 | |||||
2,247 | Air Products & Chemicals, Inc | 145,628 | |||||
200 | * | Alexion Pharmaceuticals, Inc | 10,238 | ||||
795 | * | Alexza Pharmaceuticals, Inc | 2,162 | ||||
100 | * | Alkermes, Inc | 1,245 | ||||
5,190 | * | Amgen, Inc | 272,994 | ||||
100 | Ashland, Inc | 4,642 | |||||
101 | * | Auxilium Pharmaceuticals, Inc | 2,374 | ||||
1,095 | Avery Dennison Corp | 35,182 | |||||
1,281 | Avon Products, Inc | 33,947 | |||||
631 | * | Biodel, Inc | 2,385 | ||||
1,616 | * | Biogen Idec, Inc | 76,679 | ||||
400 | * | BioMarin Pharmaceuticals, Inc | 7,584 | ||||
442 | * | BioMimetic Therapeutics, Inc | 4,915 | ||||
10,211 | Bristol-Myers Squibb Co | 254,662 | |||||
255 | * | Calgon Carbon Corp | 3,376 | ||||
166 | * | Caraco Pharmaceutical Laboratories Ltd | 784 | ||||
61 | Church & Dwight Co, Inc | 3,825 | |||||
403 | Clorox Co | 25,050 | |||||
1,579 | Colgate-Palmolive Co | 124,362 | |||||
175 | * | Cypress Bioscience, Inc | 403 | ||||
504 | * | Dendreon Corp | 16,294 | ||||
2,211 | * | Durect Corp | 5,373 | ||||
2,321 | Ecolab, Inc | 104,236 | |||||
1,342 | * | Genzyme Corp | 68,133 | ||||
300 | * | Geron Corp | 1,506 | ||||
5,035 | * | Gilead Sciences, Inc | 172,600 | ||||
274 | * | GTx, Inc | 836 | ||||
540 | H.B. Fuller Co | 10,255 | |||||
500 | * | Human Genome Sciences, Inc | 11,330 | ||||
267 | * | Idexx Laboratories, Inc | 16,260 | ||||
182 | Innophos Holdings, Inc | 4,747 | |||||
341 | * | Inverness Medical Innovations, Inc | 9,091 | ||||
9,574 | Johnson & Johnson | 565,440 | |||||
342 | Lubrizol Corp | 27,466 | |||||
11,331 | Merck & Co, Inc | 396,245 | |||||
156 | Minerals Technologies, Inc | 7,416 | |||||
30 | * | Molecular Insight Pharmaceuticals, Inc | 50 | ||||
300 | Nalco Holding Co | 6,138 | |||||
377 | * | Neurocrine Biosciences, Inc | 2,111 | ||||
200 | * | OraSure Technologies, Inc | 926 | ||||
200 | PDL BioPharma, Inc | 1,124 | |||||
552 | Perrigo Co | 32,607 | |||||
232 | * | Pharmasset, Inc | 6,343 | ||||
193 | * | PharMerica Corp | 2,829 | ||||
533 | * | Pozen, Inc | 3,736 | ||||
2,581 | Praxair, Inc | 196,130 | |||||
9,960 | Procter & Gamble Co | 597,402 | |||||
227 | * | Progenics Pharmaceuticals, Inc | 1,244 | ||||
500 | RPM International, Inc | 8,920 | |||||
450 | * | Salix Pharmaceuticals Ltd | 17,564 | ||||
233 | Sensient Technologies Corp | 6,042 | |||||
510 | * | SIGA Technologies, Inc | 3,927 | ||||
1,383 | Sigma-Aldrich Corp | 68,915 | |||||
500 | * | SuperGen, Inc | 1,010 | ||||
88 | * | United Therapeutics Corp | 4,295 | ||||
134 | * | USANA Health Sciences, Inc | 4,895 | ||||
300 | Valspar Corp | 9,036 |
91
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
200 | * | Vertex Pharmaceuticals, Inc | $ | 6,580 | |||
707 | * | XOMA Ltd | 293 | ||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 3,517,505 | ||||||
COMMUNICATIONS - 4.3% | |||||||
1,026 | Alaska Communications Systems Group, Inc | 8,711 | |||||
1,515 | CenturyTel, Inc | 50,465 | |||||
24 | * | DG FastChannel, Inc | 782 | ||||
6,874 | * | DIRECTV | 233,165 | ||||
200 | * | Entercom Communications Corp (Class A) | 1,764 | ||||
2,364 | * | Entravision Communications Corp (Class A) | 4,988 | ||||
100 | * | Equinix, Inc | 8,122 | ||||
697 | * | FiberTower Corp | 3,290 | ||||
100 | * | Fisher Communications, Inc | 1,684 | ||||
6,831 | Frontier Communications Corp | 48,568 | |||||
2,921 | * | Gray Television, Inc | 7,040 | ||||
2,730 | * | ICO Global Communications Holdings Ltd (Class A) | 4,395 | ||||
1,942 | * | Leap Wireless International, Inc | 25,207 | ||||
1,927 | * | Liberty Global, Inc (Class A) | 50,083 | ||||
1,981 | * | Liberty Media Corp - Capital (Series A) | 83,024 | ||||
365 | * | Liberty Media Corp - Starz | 18,922 | ||||
3,274 | * | Liberty Media Holding Corp (Interactive A) | 34,377 | ||||
1,349 | * | Lin TV Corp (Class A) | 7,298 | ||||
487 | * | Mediacom Communications Corp (Class A) | 3,273 | ||||
879 | * | MetroPCS Communications, Inc | 7,199 | ||||
120 | * | NeuStar, Inc (Class A) | 2,474 | ||||
661 | * | NII Holdings, Inc (Class B) | 21,496 | ||||
110 | NTELOS Holdings Corp | 1,892 | |||||
11,450 | Qwest Communications International, Inc | 60,113 | |||||
16,469 | * | Sprint Nextel Corp | 69,829 | ||||
718 | * | SureWest Communications | 4,552 | ||||
388 | * | Syniverse Holdings, Inc | 7,935 | ||||
186 | * | Terremark Worldwide, Inc | 1,453 | ||||
2,445 | Time Warner Cable, Inc | 127,335 | |||||
681 | * | TiVo, Inc | 5,026 | ||||
10,772 | Verizon Communications, Inc | 301,830 | |||||
4,713 | Windstream Corp | 49,769 | |||||
TOTAL COMMUNICATIONS | 1,256,061 | ||||||
DEPOSITORY INSTITUTIONS - 5.5% | |||||||
639 | * | Anchor Bancorp Wisconsin, Inc | 288 | ||||
111 | Bank of Hawaii Corp | 5,367 | |||||
6,126 | Bank of New York Mellon Corp | 151,251 | |||||
1,442 | * | BankAtlantic Bancorp Inc (Class A) | 2,019 | ||||
3,474 | BB&T Corp | 91,401 | |||||
1,100 | * | Cascade Bancorp | 528 | ||||
178 | * | Central Pacific Financial Corp | 267 | ||||
3,121 | * | Citizens Republic Bancorp, Inc | 2,653 | ||||
225 | City National Corp | 11,527 | |||||
852 | Comerica, Inc | 31,379 | |||||
5,026 | Fifth Third Bancorp | 61,770 | |||||
1,101 | * | First Horizon National Corp | 12,607 | ||||
2,436 | * | First State Bancorporation | 755 | ||||
147 | Fulton Financial Corp | 1,419 | |||||
1,345 | Hudson City Bancorp, Inc | 16,463 | |||||
776 | Independent Bank Corp | 294 | |||||
2,600 | Keycorp | 19,994 | |||||
760 | M&T Bank Corp | 64,562 | |||||
301 | * | Macatawa Bank Corp | 361 | ||||
1,400 | Marshall & Ilsley Corp | 10,052 | |||||
824 | New York Community Bancorp, Inc | 12,582 | |||||
148 | NewAlliance Bancshares, Inc | 1,659 | |||||
1,195 | Northern Trust Corp | 55,807 | |||||
145 | Old National Bancorp | 1,502 |
92
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
189 | People’s United Financial, Inc | $ | 2,552 | ||||
2,272 | PNC Financial Services Group, Inc | 128,368 | |||||
13,678 | * | Popular, Inc | 36,657 | ||||
2,356 | Premierwest Bancorp | 942 | |||||
355 | Provident Financial Services, Inc | 4,150 | |||||
4,160 | Regions Financial Corp | 27,373 | |||||
3,729 | South Financial Group, Inc | 1,016 | |||||
2,751 | State Street Corp | 93,039 | |||||
2,387 | SunTrust Banks, Inc | 55,617 | |||||
148 | * | SVB Financial Group | 6,102 | ||||
12,826 | Synovus Financial Corp | 32,578 | |||||
9,261 | US Bancorp | 206,982 | |||||
17,856 | Wells Fargo & Co | 457,113 | |||||
100 | Zions Bancorporation | 2,157 | |||||
TOTAL DEPOSITORY INSTITUTIONS | 1,611,153 | ||||||
EATING AND DRINKING PLACES - 1.7% | |||||||
521 | * | AFC Enterprises | 4,741 | ||||
55 | Bob Evans Farms, Inc | 1,354 | |||||
793 | Darden Restaurants, Inc | 30,808 | |||||
13 | * | DineEquity, Inc | 363 | ||||
5,029 | McDonald’s Corp | 331,261 | |||||
177 | * | Sonic Corp | 1,372 | ||||
3,801 | Starbucks Corp | 92,364 | |||||
660 | Yum! Brands, Inc | 25,766 | |||||
TOTAL EATING AND DRINKING PLACES | 488,029 | ||||||
EDUCATIONAL SERVICES - 0.0% | |||||||
43 | * | ITT Educational Services, Inc | 3,570 | ||||
140 | * | Princeton Review, Inc | 325 | ||||
TOTAL EDUCATIONAL SERVICES | 3,895 | ||||||
ELECTRIC, GAS, AND SANITARY SERVICES - 6.5% | |||||||
3,718 | * | AES Corp | 34,354 | ||||
1,158 | AGL Resources, Inc | 41,480 | |||||
966 | Alliant Energy Corp | 30,661 | |||||
946 | Aqua America, Inc | 16,725 | |||||
1,100 | Atmos Energy Corp | 29,744 | |||||
2,238 | Avista Corp | 43,708 | |||||
947 | * | Calpine Corp | 12,046 | ||||
1,579 | Centerpoint Energy, Inc | 20,780 | |||||
242 | Central Vermont Public Service Corp | 4,777 | |||||
167 | CH Energy Group, Inc | 6,553 | |||||
1,962 | * | Clean Energy Fuels Corp | 29,312 | ||||
2,759 | Cleco Corp | 72,865 | |||||
2,981 | Consolidated Edison, Inc | 128,481 | |||||
1,646 | * | Crosstex Energy, Inc | 10,551 | ||||
1,553 | Edison International | 49,261 | |||||
4,837 | El Paso Corp | 53,739 | |||||
355 | Energen Corp | 15,737 | |||||
2,503 | FPL Group, Inc | 122,046 | |||||
2,649 | Hawaiian Electric Industries, Inc | 60,344 | |||||
2,381 | Idacorp, Inc | 79,216 | |||||
87 | ITC Holdings Corp | 4,603 | |||||
222 | Laclede Group, Inc | 7,355 | |||||
500 | MGE Energy, Inc | 18,020 | |||||
2,040 | National Fuel Gas Co | 93,595 | |||||
197 | New Jersey Resources Corp | 6,934 | |||||
693 | Nicor, Inc | 28,067 | |||||
4,752 | NiSource, Inc | 68,904 | |||||
1,093 | Northeast Utilities | 27,850 | |||||
162 | Northwest Natural Gas Co | 7,058 |
93
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
1,211 | * | NRG Energy, Inc | $ | 25,685 | |||
819 | NSTAR | 28,665 | |||||
2,900 | NV Energy, Inc | 34,249 | |||||
3,814 | OGE Energy Corp | 139,440 | |||||
5,508 | Pepco Holdings, Inc | 86,365 | |||||
1,070 | PG&E Corp | 43,977 | |||||
1,260 | Piedmont Natural Gas Co, Inc | 31,878 | |||||
3,357 | * | Plug Power, Inc | 1,544 | ||||
2,066 | PPL Corp | 51,547 | |||||
1,926 | Public Service Enterprise Group, Inc | 60,342 | |||||
2,005 | Questar Corp | 91,207 | |||||
1,829 | Resource America, Inc (Class A) | 7,042 | |||||
1,174 | Sempra Energy | 54,931 | |||||
211 | SJW Corp | 4,946 | |||||
560 | South Jersey Industries, Inc | 24,058 | |||||
155 | Southwest Gas Corp | 4,573 | |||||
400 | UGI Corp | 10,176 | |||||
200 | UIL Holdings Corp | 5,006 | |||||
587 | WGL Holdings, Inc | 19,976 | |||||
3,979 | Williams Cos, Inc | 72,736 | |||||
TOTAL ELECTRIC, GAS, AND SANITARY SERVICES | 1,923,109 | ||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 7.2% | |||||||
2,047 | * | Adaptec, Inc | 5,916 | ||||
277 | * | Advanced Energy Industries, Inc | 3,404 | ||||
1,782 | * | Advanced Micro Devices, Inc | 13,044 | ||||
1,923 | Ametek, Inc | 77,208 | |||||
281 | * | Avnet, Inc | 6,775 | ||||
161 | Baldor Electric Co | 5,809 | |||||
147 | * | Benchmark Electronics, Inc | 2,330 | ||||
20,937 | * | Cisco Systems, Inc | 446,168 | ||||
297 | * | Conexant Systems, Inc | 665 | ||||
339 | * | Cree, Inc | 20,350 | ||||
9,472 | * | Dell, Inc | 114,232 | ||||
145 | * | Dolby Laboratories, Inc (Class A) | 9,090 | ||||
520 | * | EMCORE Corp | 463 | ||||
799 | * | Energy Conversion Devices, Inc | 3,276 | ||||
532 | * | Finisar Corp | 7,927 | ||||
321 | * | First Solar, Inc | 36,539 | ||||
312 | * | FuelCell Energy, Inc | 368 | ||||
377 | * | GrafTech International Ltd | 5,512 | ||||
85 | * | Greatbatch, Inc | 1,896 | ||||
100 | * | Harman International Industries, Inc | 2,989 | ||||
582 | * | Harmonic, Inc | 3,166 | ||||
9,165 | Hewlett-Packard Co | 396,662 | |||||
530 | * | Hutchinson Technology, Inc | 2,295 | ||||
21,550 | Intel Corp | 419,149 | |||||
169 | * | InterDigital, Inc | 4,173 | ||||
77 | Lincoln Electric Holdings, Inc | 3,926 | |||||
538 | * | Loral Space & Communications, Inc | 22,983 | ||||
2,267 | * | LSI Logic Corp | 10,428 | ||||
2,856 | * | Micron Technology, Inc | 24,247 | ||||
11,249 | * | Motorola, Inc | 73,343 | ||||
1,151 | * | NetApp, Inc | 42,944 | ||||
1,509 | * | ON Semiconductor Corp | 9,627 | ||||
645 | * | Oplink Communications, Inc | 9,243 | ||||
253 | * | Orion Energy Systems, Inc | 797 | ||||
293 | Plantronics, Inc | 8,380 | |||||
357 | * | Polycom, Inc | 10,635 | ||||
200 | * | Power-One, Inc | 1,350 | ||||
857 | * | Powerwave Technologies, Inc | 1,320 | ||||
441 | * | QLogic Corp | 7,329 | ||||
1,755 | * | Quantum Fuel Systems Technologies Worldwide, Inc | 941 | ||||
706 | * | RF Micro Devices, Inc | 2,760 |
94
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
12,111 | * | Sirius XM Radio, Inc | $ | 11,499 | |||
487 | * | Skyworks Solutions, Inc | 8,177 | ||||
1,521 | * | Sunpower Corp (Class A) | 18,404 | ||||
408 | * | Sunpower Corp (Class B) | 4,406 | ||||
40 | Sycamore Networks, Inc | 665 | |||||
1,169 | * | Symmetricom, Inc | 5,950 | ||||
141 | * | Synaptics, Inc | 3,878 | ||||
221 | * | Tekelec | 2,926 | ||||
288 | Teleflex, Inc | 15,633 | |||||
1,300 | Tellabs, Inc | 8,307 | |||||
7,973 | Texas Instruments, Inc | 185,612 | |||||
397 | * | Thomas & Betts Corp | 13,776 | ||||
184 | * | TTM Technologies, Inc | 1,748 | ||||
82 | Whirlpool Corp | 7,201 | |||||
800 | Xilinx, Inc | 20,208 | |||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 2,128,049 | ||||||
ENGINEERING AND MANAGEMENT SERVICES - 0.8% | |||||||
3,891 | Accenture plc | 150,386 | |||||
200 | * | Amylin Pharmaceuticals, Inc | 3,760 | ||||
200 | * | Ariad Pharmaceuticals, Inc | 564 | ||||
200 | * | Celera Corp | 1,310 | ||||
42 | Corporate Executive Board Co | 1,103 | |||||
321 | * | Hewitt Associates, Inc (Class A) | 11,062 | ||||
767 | * | Incyte Corp | 8,491 | ||||
435 | * | Isis Pharmaceuticals, Inc | 4,163 | ||||
139 | * | Navigant Consulting, Inc | 1,443 | ||||
1,814 | Paychex, Inc | 47,110 | |||||
211 | * | Regeneron Pharmaceuticals, Inc | 4,710 | ||||
6,716 | * | Rentech, Inc | 6,649 | ||||
100 | *,m | Symyx Technologies, Inc | 501 | ||||
318 | * | Tetra Tech, Inc | 6,236 | ||||
TOTAL ENGINEERING AND MANAGEMENT SERVICES | 247,488 | ||||||
FABRICATED METAL PRODUCTS - 1.0% | |||||||
140 | Aptargroup, Inc | 5,295 | |||||
720 | Commercial Metals Co | 9,518 | |||||
258 | Dynamic Materials Corp | 4,138 | |||||
100 | Gulf Island Fabrication, Inc | 1,552 | |||||
4,371 | Illinois Tool Works, Inc | 180,434 | |||||
905 | * | NCI Building Systems, Inc | 7,575 | ||||
252 | Pentair, Inc | 8,114 | |||||
238 | * | Pgt, Inc | 612 | ||||
240 | Quanex Building Products Corp | 4,150 | |||||
147 | Snap-On, Inc | 6,014 | |||||
1,136 | Stanley Works | 57,391 | |||||
71 | Valmont Industries, Inc | 5,159 | |||||
TOTAL FABRICATED METAL PRODUCTS | 289,952 | ||||||
FOOD AND KINDRED PRODUCTS - 3.9% | |||||||
1,861 | Campbell Soup Co | 66,680 | |||||
20 | Coca-Cola Enterprises, Inc | 517 | |||||
5,196 | General Mills, Inc | 184,562 | |||||
2,010 | H.J. Heinz Co | 86,872 | |||||
80 | * | Hansen Natural Corp | 3,129 | ||||
164 | J.M. Smucker Co | 9,876 | |||||
2,895 | Kellogg Co | 145,619 | |||||
7,819 | Kraft Foods, Inc (Class A) | 218,932 | |||||
51 | Lancaster Colony Corp | 2,721 | |||||
146 | McCormick & Co, Inc | 5,542 | |||||
6,470 | PepsiCo, Inc | 394,346 |
95
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
11 | * | Ralcorp Holdings, Inc | $ | 603 | |||
2,634 | Sara Lee Corp | 37,139 | |||||
78 | Tootsie Roll Industries, Inc | 1,845 | |||||
TOTAL FOOD AND KINDRED PRODUCTS | 1,158,383 | ||||||
FOOD STORES - 0.3% | |||||||
51 | * | Great Atlantic & Pacific Tea Co, Inc | 199 | ||||
1,347 | Kroger Co | 26,522 | |||||
1,955 | Safeway, Inc | 38,436 | |||||
260 | * | Whole Foods Market, Inc | 9,365 | ||||
TOTAL FOOD STORES | 74,522 | ||||||
FORESTRY - 0.1% | |||||||
1,088 | Weyerhaeuser Co | 38,298 | |||||
TOTAL FORESTRY | 38,298 | ||||||
FURNITURE AND FIXTURES - 0.2% | |||||||
68 | Herman Miller, Inc | 1,283 | |||||
470 | Hill-Rom Holdings, Inc | 14,302 | |||||
128 | HNI Corp | 3,532 | |||||
200 | * | Kinetic Concepts, Inc | 7,302 | ||||
700 | Leggett & Platt, Inc | 14,042 | |||||
2,440 | Masco Corp | 26,254 | |||||
TOTAL FURNITURE AND FIXTURES | 66,715 | ||||||
FURNITURE AND HOME FURNISHINGS STORES - 0.2% | |||||||
1,079 | * | Bed Bath & Beyond, Inc | 40,010 | ||||
199 | * | GameStop Corp (Class A) | 3,739 | ||||
200 | RadioShack Corp | 3,902 | |||||
100 | Williams-Sonoma, Inc | 2,482 | |||||
TOTAL FURNITURE AND HOME FURNISHINGS STORES | 50,133 | ||||||
GENERAL BUILDING CONTRACTORS - 0.1% | |||||||
400 | Lennar Corp (Class A) | 5,564 | |||||
231 | * | M/I Homes, Inc | 2,227 | ||||
520 | * | Palm Harbor Homes, Inc | 926 | ||||
390 | * | Pulte Homes, Inc | 3,229 | ||||
7,499 | * | Standard-Pacific Corp | 24,971 | ||||
TOTAL GENERAL BUILDING CONTRACTORS | 36,917 | ||||||
GENERAL MERCHANDISE STORES - 1.5% | |||||||
45 | * | Conn’s, Inc | 265 | ||||
3,310 | Costco Wholesale Corp | 181,487 | |||||
940 | JC Penney Co, Inc | 20,191 | |||||
800 | Macy’s, Inc | 14,320 | |||||
4,450 | Target Corp | 218,807 | |||||
TOTAL GENERAL MERCHANDISE STORES | 435,070 | ||||||
HEALTH SERVICES - 0.5% | |||||||
55 | * | Amsurg Corp | 980 | ||||
112 | * | Corvel Corp | 3,784 | ||||
791 | * | Five Star Quality Care, Inc | 2,389 | ||||
161 | * | Healthways, Inc | 1,919 | ||||
774 | * | Laboratory Corp of America Holdings | 58,321 | ||||
421 | * | LCA-Vision, Inc | 2,332 | ||||
337 | * | LifePoint Hospitals, Inc | 10,582 | ||||
1,668 | * | Nektar Therapeutics | 20,183 | ||||
162 | * | Nighthawk Radiology Holdings, Inc | 420 |
96
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
1,068 | Quest Diagnostics, Inc | $ | 53,154 | ||||
TOTAL HEALTH SERVICES | 154,064 | ||||||
HEAVY CONSTRUCTION, EXCEPT BUILDING - 0.0% | |||||||
301 | * | LB Foster Co (Class A) | 7,802 | ||||
159 | * | Matrix Service Co | 1,480 | ||||
TOTAL HEAVY CONSTRUCTION, EXCEPT BUILDING | 9,282 | ||||||
HOLDING AND OTHER INVESTMENT OFFICES - 2.1% | |||||||
2,944 | Annaly Mortgage Management, Inc | 50,490 | |||||
800 | Anworth Mortgage Asset Corp | 5,696 | |||||
2,723 | * | Ashford Hospitality Trust, Inc | 19,960 | ||||
389 | Boston Properties, Inc | 27,751 | |||||
402 | * | Capital Trust, Inc (Class A) | 663 | ||||
441 | Capstead Mortgage Corp | 4,877 | |||||
1,159 | Duke Realty Corp | 13,155 | |||||
1,938 | Equity Residential | 80,698 | |||||
1,053 | * | FelCor Lodging Trust, Inc | 5,254 | ||||
1,726 | * | First Industrial Realty Trust, Inc | 8,319 | ||||
930 | HCP, Inc | 29,993 | |||||
219 | Health Care REIT, Inc | 9,224 | |||||
1,480 | Hersha Hospitality Trust | 6,690 | |||||
2,698 | Host Marriott Corp | 36,369 | |||||
700 | HRPT Properties Trust | 4,347 | |||||
3,731 | * | iStar Financial, Inc | 16,640 | ||||
1,200 | Kimco Realty Corp | 16,128 | |||||
300 | Liberty Property Trust | 8,655 | |||||
255 | MFA Mortgage Investments, Inc | 1,887 | |||||
78 | Mid-America Apartment Communities, Inc | 4,015 | |||||
1,865 | NorthStar Realty Finance Corp | 4,980 | |||||
2,177 | Prologis | 22,053 | |||||
1,307 | Public Storage, Inc | 114,898 | |||||
4,134 | * | RAIT Investment Trust | 7,731 | ||||
78 | Regency Centers Corp | 2,683 | |||||
176 | UDR, Inc | 3,367 | |||||
2,062 | Virgin Media, Inc | 34,415 | |||||
655 | Vornado Realty Trust | 47,782 | |||||
300 | * | WABCO Holdings, Inc | 9,444 | ||||
733 | Weingarten Realty Investors | 13,964 | |||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 612,128 | ||||||
HOTELS AND OTHER LODGING PLACES - 0.3% | |||||||
600 | Choice Hotels International, Inc | 18,126 | |||||
500 | * | Gaylord Entertainment Co | 11,045 | ||||
1,201 | * | Great Wolf Resorts, Inc | 2,498 | ||||
200 | Marcus Corp | 1,892 | |||||
1,441 | Marriott International, Inc (Class A) | 43,143 | |||||
448 | Starwood Hotels & Resorts Worldwide, Inc | 18,561 | |||||
TOTAL HOTELS AND OTHER LODGING PLACES | 95,265 | ||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 6.9% | |||||||
3,690 | 3M Co | 291,473 | |||||
400 | * | AGCO Corp | 10,788 | ||||
3,736 | * | Allis-Chalmers Energy, Inc | 7,696 | ||||
7,393 | Applied Materials, Inc | 88,864 | |||||
90 | * | Astec Industries, Inc | 2,496 | ||||
699 | * | Axcelis Technologies, Inc | 1,083 | ||||
200 | Briggs & Stratton Corp | 3,404 | |||||
36 | Cascade Corp | 1,282 | |||||
2,558 | Caterpillar, Inc | 153,659 | |||||
1,082 | * | Cray, Inc | 6,038 | ||||
1,279 | Cummins, Inc | 83,301 | |||||
2,807 | Deere & Co | 156,294 |
97
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
66 | Donaldson Co, Inc | $ | 2,815 | ||||
100 | * | Dril-Quip, Inc | 4,402 | ||||
506 | Eaton Corp | 33,113 | |||||
5,478 | Emerson Electric Co | 239,334 | |||||
734 | * | ENGlobal Corp | 1,512 | ||||
241 | * | Entegris, Inc | 957 | ||||
510 | * | Flotek Industries, Inc | 617 | ||||
600 | * | FMC Technologies, Inc | 31,596 | ||||
421 | Graco, Inc | 11,868 | |||||
772 | * | Immersion Corp | 3,906 | ||||
4,618 | International Business Machines Corp | 570,230 | |||||
124 | * | Intevac, Inc | 1,323 | ||||
129 | John Bean Technologies Corp | 1,967 | |||||
3,710 | Johnson Controls, Inc | 99,688 | |||||
421 | * | Lam Research Corp | 16,023 | ||||
300 | * | Lexmark International, Inc (Class A) | 9,909 | ||||
110 | Lufkin Industries, Inc | 4,289 | |||||
516 | Manitowoc Co, Inc | 4,716 | |||||
292 | * | Modine Manufacturing Co | 2,243 | ||||
482 | Nordson Corp | 27,031 | |||||
89 | * | Oil States International, Inc | 3,523 | ||||
300 | Pall Corp | 10,311 | |||||
5,118 | * | Quantum Corp | 9,622 | ||||
2,623 | * | Seagate Technology, Inc | 34,204 | ||||
210 | * | Sigma Designs, Inc | 2,102 | ||||
406 | * | STEC, Inc | 5,099 | ||||
132 | * | Tecumseh Products Co (Class A) | 1,468 | ||||
760 | Tennant Co | 25,703 | |||||
170 | * | Ultratech, Inc | 2,766 | ||||
490 | * | Varian Medical Systems, Inc | 25,617 | ||||
4,409 | Xerox Corp | 35,448 | |||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 2,029,780 | ||||||
INSTRUMENTS AND RELATED PRODUCTS - 4.5% | |||||||
100 | * | Affymetrix, Inc | 590 | ||||
1,539 | * | Agilent Technologies, Inc | 43,754 | ||||
1,456 | Allergan, Inc | 84,827 | |||||
4,047 | Baxter International, Inc | 164,470 | |||||
432 | Beckman Coulter, Inc | 26,045 | |||||
1,976 | Becton Dickinson & Co | 133,617 | |||||
200 | * | Bruker BioSciences Corp | 2,432 | ||||
918 | * | Cardiac Science Corp | 900 | ||||
365 | * | Cepheid, Inc | 5,847 | ||||
4,869 | Danaher Corp | 180,737 | |||||
808 | Dentsply International, Inc | 24,167 | |||||
481 | * | Edwards Lifesciences Corp | 26,946 | ||||
396 | * | Flir Systems, Inc | 11,520 | ||||
601 | Garmin Ltd | 17,585 | |||||
470 | Hillenbrand, Inc | 10,053 | |||||
788 | * | Hologic, Inc | 10,977 | ||||
182 | * | Illumina, Inc | 7,922 | ||||
110 | * | Intuitive Surgical, Inc | 34,718 | ||||
564 | * | ION Geophysical Corp | 1,963 | ||||
361 | * | Ixia | 3,101 | ||||
200 | * | Life Technologies Corp | 9,450 | ||||
598 | * | LTX-Credence Corp | 1,692 | ||||
6,326 | Medtronic, Inc | 229,445 | |||||
236 | * | Millipore Corp | 25,169 | ||||
200 | * | Movado Group, Inc | 2,136 | ||||
278 | Rockwell Automation, Inc | 13,647 | |||||
178 | Roper Industries, Inc | 9,961 | |||||
1,720 | * | St. Jude Medical, Inc | 62,075 | ||||
268 | STERIS Corp | 8,329 | |||||
70 | Techne Corp | 4,022 | |||||
1,505 | * | Thermo Electron Corp | 73,820 | ||||
336 | * | Trans1, Inc | 877 |
98
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
260 | * | Trimble Navigation Ltd | $ | 7,280 | |||
636 | * | Vivus, Inc | 6,106 | ||||
300 | * | Waters Corp | 19,410 | ||||
1,323 | * | Zimmer Holdings, Inc | 71,508 | ||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 1,337,098 | ||||||
INSURANCE AGENTS, BROKERS AND SERVICE - 0.4% | |||||||
1,802 | AON Corp | 66,891 | |||||
1,121 | * | Crawford & Co (Class B) | 3,542 | ||||
2,065 | Hartford Financial Services Group, Inc | 45,698 | |||||
320 | * | National Financial Partners Corp | 3,126 | ||||
TOTAL INSURANCE AGENTS, BROKERS AND SERVICE | 119,257 | ||||||
INSURANCE CARRIERS - 4.5% | |||||||
2,668 | Aetna, Inc | 70,382 | |||||
3,753 | Aflac, Inc | 160,141 | |||||
5 | * | Alleghany Corp | 1,467 | ||||
49 | American Physicians Capital, Inc | 1,512 | |||||
120 | * | Arch Capital Group Ltd | 8,940 | ||||
853 | Aspen Insurance Holdings Ltd | 21,103 | |||||
666 | Assurant, Inc | 23,110 | |||||
141 | * | Catalyst Health Solutions, Inc | 4,865 | ||||
263 | * | Centene Corp | 5,655 | ||||
3,439 | Chubb Corp | 171,984 | |||||
2,695 | Cincinnati Financial Corp | 69,720 | |||||
332 | Endurance Specialty Holdings Ltd | 12,460 | |||||
202 | Erie Indemnity Co (Class A) | 9,191 | |||||
2,674 | * | Genworth Financial, Inc (Class A) | 34,949 | ||||
150 | Hanover Insurance Group, Inc | 6,525 | |||||
737 | * | Humana, Inc | 33,659 | ||||
2,153 | Lincoln National Corp | 52,296 | |||||
34 | * | Markel Corp | 11,560 | ||||
177 | * | Molina Healthcare, Inc | 5,098 | ||||
765 | Montpelier Re Holdings Ltd | 11,421 | |||||
1,698 | * | Phoenix Cos, Inc | 3,583 | ||||
347 | Platinum Underwriters Holdings Ltd | 12,593 | |||||
200 | * | PMI Group, Inc | 578 | ||||
1,953 | Principal Financial Group | 45,778 | |||||
5,397 | Progressive Corp | 101,032 | |||||
300 | Protective Life Corp | 6,417 | |||||
220 | Radian Group, Inc | 1,593 | |||||
36 | Stancorp Financial Group, Inc | 1,459 | |||||
4,120 | Travelers Cos, Inc | 202,909 | |||||
1,457 | UnumProvident Corp | 31,617 | |||||
802 | W.R. Berkley Corp | 21,221 | |||||
3,581 | * | WellPoint, Inc | 175,217 | ||||
884 | XL Capital Ltd | 14,153 | |||||
TOTAL INSURANCE CARRIERS | 1,334,188 | ||||||
LEATHER AND LEATHER PRODUCTS - 0.2% | |||||||
1,184 | Coach, Inc | 43,275 | |||||
115 | Weyco Group, Inc | 2,620 | |||||
TOTAL LEATHER AND LEATHER PRODUCTS | 45,895 | ||||||
LEGAL SERVICES - 0.0% | |||||||
95 | * | FTI Consulting, Inc | 4,141 | ||||
TOTAL LEGAL SERVICES | 4,141 | ||||||
LUMBER AND WOOD PRODUCTS - 0.0% | |||||||
725 | * | Louisiana-Pacific Corp | 4,850 | ||||
TOTAL LUMBER AND WOOD PRODUCTS | 4,850 | ||||||
99
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
METAL MINING - 0.2% | |||||||
84 | * | Rosetta Resources, Inc | $ | 1,664 | |||
1,013 | Royal Gold, Inc | 48,624 | |||||
297 | * | Stillwater Mining Co | 3,451 | ||||
TOTAL METAL MINING | 53,739 | ||||||
MISCELLANEOUS MANUFACTURING INDUSTRIES - 0.3% | |||||||
318 | * | Armstrong World Industries, Inc | 9,597 | ||||
200 | Callaway Golf Co | 1,208 | |||||
3,531 | Mattel, Inc | 74,717 | |||||
370 | * | Nautilus, Inc | 562 | ||||
TOTAL MISCELLANEOUS MANUFACTURING INDUSTRIES | 86,084 | ||||||
MISCELLANEOUS RETAIL - 2.1% | |||||||
1,259 | * | Amazon.com, Inc | 137,558 | ||||
1,050 | Best Buy Co, Inc | 35,553 | |||||
2,545 | * | Borders Group, Inc | 3,385 | ||||
6,235 | CVS Corp | 182,810 | |||||
62 | * | Dollar Tree, Inc | 2,560 | ||||
260 | * | GSI Commerce, Inc | 7,488 | ||||
881 | * | Hibbett Sports, Inc | 21,109 | ||||
248 | * | HSN, Inc | 5,952 | ||||
700 | * | Office Depot, Inc | 2,828 | ||||
200 | Petsmart, Inc | 6,034 | |||||
70 | * | Priceline.com, Inc | 12,358 | ||||
3,169 | Staples, Inc | 60,369 | |||||
300 | Tiffany & Co | 11,373 | |||||
5,425 | Walgreen Co | 144,848 | |||||
TOTAL MISCELLANEOUS RETAIL | 634,225 | ||||||
MOTION PICTURES - 0.7% | |||||||
97 | * | Avid Technology, Inc | 1,235 | ||||
4,712 | * | Blockbuster, Inc (Class A) | 1,122 | ||||
559 | * | Discovery Communications, Inc (Class A) | 19,962 | ||||
423 | * | Discovery Communications, Inc (Class C) | 13,083 | ||||
306 | * | DreamWorks Animation SKG, Inc (Class A) | 8,736 | ||||
200 | Regal Entertainment Group (Class A) | 2,608 | |||||
845 | Scripps Networks Interactive (Class A) | 34,087 | |||||
361 | * | tw telecom inc (Class A) | 6,021 | ||||
4,252 | Viacom, Inc (Class B) | 133,386 | |||||
TOTAL MOTION PICTURES | 220,240 | ||||||
NONDEPOSITORY INSTITUTIONS - 1.4% | |||||||
6,047 | American Express Co | 240,065 | |||||
756 | * | AmeriCredit Corp | 13,774 | ||||
2,246 | Capital One Financial Corp | 90,514 | |||||
877 | CapitalSource, Inc | 4,175 | |||||
2,202 | Discover Financial Services | 30,784 | |||||
958 | Federal Agricultural Mortgage Corp (Class C) | 13,441 | |||||
1,662 | Medallion Financial Corp | 10,969 | |||||
1,392 | * | NewStar Financial, Inc | 8,853 | ||||
105 | * | World Acceptance Corp | 4,023 | ||||
TOTAL NONDEPOSITORY INSTITUTIONS | 416,598 | ||||||
NONMETALLIC MINERALS, EXCEPT FUELS - 0.2% | |||||||
900 | AMCOL International Corp | 21,150 | |||||
68 | Compass Minerals International, Inc | 4,779 | |||||
832 | Vulcan Materials Co | 36,467 | |||||
TOTAL NONMETALLIC MINERALS, EXCEPT FUELS | 62,396 | ||||||
100
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
OIL AND GAS EXTRACTION - 5.9% | |||||||
2,450 | Apache Corp | $ | 206,267 | ||||
378 | Atlas America, Inc | 10,232 | |||||
1,612 | * | ATP Oil & Gas Corp | 17,071 | ||||
400 | Berry Petroleum Co (Class A) | 10,288 | |||||
120 | * | Boots & Coots, Inc | 354 | ||||
200 | * | Bronco Drilling Co, Inc | 670 | ||||
754 | Cabot Oil & Gas Corp | 23,615 | |||||
1,369 | * | Callon Petroleum Co | 8,625 | ||||
850 | * | Cameron International Corp | 27,642 | ||||
4,076 | Chesapeake Energy Corp | 85,392 | |||||
615 | Cimarex Energy Co | 44,022 | |||||
355 | * | Complete Production Services, Inc | 5,077 | ||||
325 | * | Contango Oil & Gas Co | 14,544 | ||||
112 | * | Dawson Geophysical Co | 2,382 | ||||
3,060 | * | Denbury Resources, Inc | 44,798 | ||||
3,410 | Devon Energy Corp | 207,738 | |||||
1,180 | Diamond Offshore Drilling, Inc | 73,384 | |||||
358 | * | Energy Recovery, Inc | 1,432 | ||||
1,804 | EOG Resources, Inc | 177,459 | |||||
2,381 | Equitable Resources, Inc | 86,049 | |||||
124 | EXCO Resources, Inc | 1,812 | |||||
49 | * | Exterran Holdings, Inc | 1,265 | ||||
318 | * | Geokinetics, Inc | 1,218 | ||||
591 | * | Geomet, Inc | 674 | ||||
1,140 | * | Global Industries Ltd | 5,119 | ||||
92 | * | GMX Resources, Inc | 597 | ||||
369 | * | Goodrich Petroleum Corp | 4,428 | ||||
1,008 | Helmerich & Payne, Inc | 36,812 | |||||
1,203 | * | Hercules Offshore, Inc | 2,923 | ||||
880 | * | Nabors Industries Ltd | 15,506 | ||||
3,196 | National Oilwell Varco, Inc | 105,692 | |||||
776 | * | Newfield Exploration Co | 37,915 | ||||
1,965 | Noble Energy, Inc | 118,548 | |||||
78 | * | Oceaneering International, Inc | 3,502 | ||||
753 | * | Parker Drilling Co | 2,974 | ||||
1,754 | * | PetroHawk Energy Corp | 29,765 | ||||
200 | * | Petroleum Development Corp | 5,124 | ||||
415 | * | Petroquest Energy, Inc | 2,805 | ||||
697 | * | Pioneer Drilling Co | 3,952 | ||||
1,084 | Pioneer Natural Resources Co | 64,444 | |||||
1,201 | * | Pride International, Inc | 26,830 | ||||
800 | * | Quicksilver Resources, Inc | 8,800 | ||||
636 | Range Resources Corp | 25,535 | |||||
233 | * | Rex Energy Corp | 2,353 | ||||
1,050 | Smith International, Inc | 39,533 | |||||
927 | * | Southwestern Energy Co | 35,819 | ||||
603 | St. Mary Land & Exploration Co | 24,216 | |||||
188 | * | Stone Energy Corp | 2,098 | ||||
2,287 | * | Sulphco, Inc | 622 | ||||
451 | * | Swift Energy Co | 12,136 | ||||
650 | * | Ultra Petroleum Corp | 28,763 | ||||
300 | * | Unit Corp | 12,177 | ||||
487 | * | Venoco, Inc | 8,021 | ||||
500 | W&T Offshore, Inc | 4,730 | |||||
328 | * | Whiting Petroleum Corp | 25,722 | ||||
TOTAL OIL AND GAS EXTRACTION | 1,749,471 | ||||||
PAPER AND ALLIED PRODUCTS - 1.0% | |||||||
551 | Bemis Co | 14,877 | |||||
259 | * | Buckeye Technologies, Inc | 2,577 | ||||
103 | Domtar Corporation | 5,062 | |||||
1,482 | International Paper Co | 33,538 |
101
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
2,545 | Kimberly-Clark Corp | $ | 154,304 | ||||
1,866 | MeadWestvaco Corp | 41,425 | |||||
114 | Rock-Tenn Co (Class A) | 5,662 | |||||
700 | Sonoco Products Co | 21,336 | |||||
500 | Temple-Inland, Inc | 10,335 | |||||
TOTAL PAPER AND ALLIED PRODUCTS | 289,116 | ||||||
PERSONAL SERVICES - 0.0% | |||||||
232 | Regis Corp | 3,612 | |||||
34 | Unifirst Corp | 1,497 | |||||
40 | Weight Watchers International, Inc | 1,028 | |||||
TOTAL PERSONAL SERVICES | 6,137 | ||||||
PETROLEUM AND COAL PRODUCTS - 1.1% | |||||||
0 | Exxon Mobil Corp | 2 | |||||
2,895 | Hess Corp | 145,734 | |||||
5,440 | Marathon Oil Corp | 169,130 | |||||
TOTAL PETROLEUM AND COAL PRODUCTS | 314,866 | ||||||
PIPELINES, EXCEPT NATURAL GAS - 0.6% | |||||||
9,075 | Spectra Energy Corp | 182,135 | |||||
TOTAL PIPELINES, EXCEPT NATURAL GAS | 182,135 | ||||||
PRIMARY METAL INDUSTRIES - 1.0% | |||||||
4,654 | Alcoa, Inc | 46,819 | |||||
190 | Allegheny Technologies, Inc | 8,396 | |||||
350 | * | Gibraltar Industries, Inc | 3,535 | ||||
300 | Hubbell, Inc (Class B) | 11,907 | |||||
1,394 | * | Metalico, Inc | 5,548 | ||||
2,406 | Nucor Corp | 92,102 | |||||
241 | Olympic Steel, Inc | 5,536 | |||||
900 | Reliance Steel & Aluminum Co | 32,535 | |||||
1,276 | Steel Dynamics, Inc | 16,830 | |||||
500 | Tredegar Corp | 8,160 | |||||
868 | United States Steel Corp | 33,461 | |||||
1,796 | Worthington Industries, Inc | 23,097 | |||||
TOTAL PRIMARY METAL INDUSTRIES | 287,926 | ||||||
PRINTING AND PUBLISHING - 0.4% | |||||||
470 | Dun & Bradstreet Corp | 31,546 | |||||
233 | * | EW Scripps Co (Class A) | 1,731 | ||||
185 | Harte-Hanks, Inc | 1,933 | |||||
83 | John Wiley & Sons, Inc (Class A) | 3,210 | |||||
2,109 | * | Journal Communications, Inc (Class A) | 8,373 | ||||
1,041 | * | McClatchy Co (Class A) | 3,789 | ||||
200 | Meredith Corp | 6,226 | |||||
1,322 | * | New York Times Co (Class A) | 11,435 | ||||
600 | R.R. Donnelley & Sons Co | 9,822 | |||||
863 | Standard Register Co | 2,710 | |||||
126 | Washington Post Co (Class B) | 51,721 | |||||
TOTAL PRINTING AND PUBLISHING | 132,496 | ||||||
RAILROAD TRANSPORTATION - 1.1% | |||||||
2,543 | CSX Corp | 126,209 | |||||
500 | * | Kansas City Southern Industries, Inc | 18,175 | ||||
3,167 | Norfolk Southern Corp | 168,009 | |||||
TOTAL RAILROAD TRANSPORTATION | 312,393 | ||||||
102
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
REAL ESTATE - 0.0% | |||||||
480 | * | CB Richard Ellis Group, Inc (Class A) | $ | 6,533 | |||
166 | * | Forestar Real Estate Group, Inc | 2,981 | ||||
100 | Stewart Enterprises, Inc (Class A) | 541 | |||||
TOTAL REAL ESTATE | 10,055 | ||||||
RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS - 0.0% | |||||||
340 | Sealed Air Corp | 6,705 | |||||
170 | Tupperware Corp | 6,774 | |||||
TOTAL RUBBER AND MISCELLANEOUS PLASTIC PRODUCTS | 13,479 | ||||||
SECURITY AND COMMODITY BROKERS - 2.5% | |||||||
722 | Ameriprise Financial, Inc | 26,086 | |||||
531 | BlackRock, Inc | 76,145 | |||||
683 | Broadridge Financial Solutions, Inc | 13,011 | |||||
7,386 | Charles Schwab Corp | 104,733 | |||||
332 | CME Group, Inc | 93,475 | |||||
388 | Duff & Phelps Corp | 4,900 | |||||
200 | Eaton Vance Corp | 5,522 | |||||
363 | Evercore Partners, Inc (Class A) | 8,476 | |||||
300 | Federated Investors, Inc (Class B) | 6,213 | |||||
1,656 | Franklin Resources, Inc | 142,732 | |||||
415 | * | IntercontinentalExchange, Inc | 46,907 | ||||
2,369 | Invesco Ltd | 39,870 | |||||
556 | Legg Mason, Inc | 15,585 | |||||
3,032 | * | MF Global Holdings Ltd | 17,313 | ||||
542 | * | Nasdaq Stock Market, Inc | 9,637 | ||||
1,436 | NYSE Euronext | 39,677 | |||||
600 | SEI Investments Co | 12,216 | |||||
1,573 | T Rowe Price Group, Inc | 69,825 | |||||
259 | * | US Global Investors, Inc (Class A) | 1,437 | ||||
TOTAL SECURITY AND COMMODITY BROKERS | 733,760 | ||||||
SOCIAL SERVICES - 0.0% | |||||||
688 | * | Capital Senior Living Corp | 3,419 | ||||
TOTAL SOCIAL SERVICES | 3,419 | ||||||
SPECIAL TRADE CONTRACTORS - 0.1% | |||||||
75 | Chemed Corp | 4,098 | |||||
80 | * | Layne Christensen Co | 1,942 | ||||
518 | * | Quanta Services, Inc | 10,696 | ||||
TOTAL SPECIAL TRADE CONTRACTORS | 16,736 | ||||||
STONE, CLAY, AND GLASS PRODUCTS - 0.4% | |||||||
100 | Apogee Enterprises, Inc | 1,083 | |||||
51 | * | Cabot Microelectronics Corp | 1,764 | ||||
150 | CARBO Ceramics, Inc | 10,829 | |||||
5,868 | Corning, Inc | 94,768 | |||||
400 | Gentex Corp | 7,192 | |||||
241 | * | Owens Corning, Inc | 7,208 | ||||
TOTAL STONE, CLAY, AND GLASS PRODUCTS | 122,844 | ||||||
TEXTILE MILL PRODUCTS - 0.0% | |||||||
200 | Oxford Industries, Inc | 4,186 | |||||
TOTAL TEXTILE MILL PRODUCTS | 4,186 | ||||||
TRANSPORTATION BY AIR - 0.4% | |||||||
2,987 | * | Airtran Holdings, Inc | 14,487 | ||||
700 | * | Continental Airlines, Inc (Class B) | 15,400 |
103
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
1,896 | * | Delta Air Lines, Inc | $ | 22,278 | |||
581 | * | ExpressJet Holdings, Inc | 1,511 | ||||
3,057 | * | JetBlue Airways Corp | 16,783 | ||||
267 | Skywest, Inc | 3,263 | |||||
4,679 | Southwest Airlines Co | 51,983 | |||||
TOTAL TRANSPORTATION BY AIR | 125,705 | ||||||
TRANSPORTATION EQUIPMENT - 1.5% | |||||||
656 | * | American Axle & Manufacturing Holdings, Inc | 4,808 | ||||
400 | * | ArvinMeritor, Inc | 5,240 | ||||
1,670 | * | BE Aerospace, Inc | 42,468 | ||||
13,368 | * | Ford Motor Co | 134,750 | ||||
64 | * | Fuel Systems Solutions, Inc | 1,661 | ||||
1,894 | Genuine Parts Co | 74,719 | |||||
1,360 | Harley-Davidson, Inc | 30,233 | |||||
759 | Harsco Corp | 17,837 | |||||
1,543 | Paccar, Inc | 61,519 | |||||
77 | Spartan Motors, Inc | 323 | |||||
1,353 | * | Spirit Aerosystems Holdings, Inc (Class A) | 25,788 | ||||
339 | Superior Industries International, Inc | 4,556 | |||||
800 | * | Tenneco, Inc | 16,848 | ||||
300 | Westinghouse Air Brake Technologies Corp | 11,967 | |||||
TOTAL TRANSPORTATION EQUIPMENT | 432,717 | ||||||
TRANSPORTATION SERVICES - 0.6% | |||||||
176 | CH Robinson Worldwide, Inc | 9,796 | |||||
178 | Expeditors International Washington, Inc | 6,143 | |||||
2,097 | FedEx Corp | 147,020 | |||||
248 | * | Interval Leisure Group, Inc | 3,088 | ||||
404 | * | Orbitz Worldwide, Inc | 1,539 | ||||
TOTAL TRANSPORTATION SERVICES | 167,586 | ||||||
TRUCKING AND WAREHOUSING - 0.8% | |||||||
4,180 | United Parcel Service, Inc (Class B) | 237,800 | |||||
TOTAL TRUCKING AND WAREHOUSING | 237,800 | ||||||
WATER TRANSPORTATION - 0.1% | |||||||
116 | Alexander & Baldwin, Inc | 3,454 | |||||
400 | * | Gulfmark Offshore, Inc | 10,480 | ||||
1,084 | * | Hornbeck Offshore Services, Inc | 15,827 | ||||
2,345 | * | Odyssey Marine Exploration, Inc | 2,345 | ||||
TOTAL WATER TRANSPORTATION | 32,106 | ||||||
WHOLESALE TRADE-DURABLE GOODS - 0.5% | |||||||
932 | Agilysys, Inc | 6,235 | |||||
800 | Barnes Group, Inc | 13,112 | |||||
400 | * | BorgWarner, Inc | 14,936 | ||||
400 | * | Castle (A.M.) & Co | 5,556 | ||||
465 | * | Chindex International, Inc | 5,826 | ||||
104 | * | MWI Veterinary Supply, Inc | 5,227 | ||||
39 | Owens & Minor, Inc | 1,107 | |||||
522 | Patterson Cos, Inc | 14,893 | |||||
142 | * | Tyler Technologies, Inc | 2,204 | ||||
782 | W.W. Grainger, Inc | 77,770 | |||||
109 | * | WESCO International, Inc | 3,670 | ||||
TOTAL WHOLESALE TRADE-DURABLE GOODS | 150,536 | ||||||
WHOLESALE TRADE-NONDURABLE GOODS - 0.6% | |||||||
45 | Airgas, Inc | 2,799 | |||||
623 | * | Akorn, Inc | 1,850 | ||||
440 | * | Allscripts Healthcare Solutions, Inc | 7,084 |
104
TIAA-CREF LIFE FUNDS - Social Choice Equity Fund
SHARES | COMPANY | VALUE | |||||
9 | * | Clearwater Paper Corp | $ | 493 | |||
500 | * | Endo Pharmaceuticals Holdings, Inc | 10,910 | ||||
105 | * | Henry Schein, Inc | 5,765 | ||||
30 | * | K-Swiss, Inc (Class A) | 337 | ||||
105 | * | Maui Land & Pineapple Co, Inc | 392 | ||||
98 | Nash Finch Co | 3,348 | |||||
128 | Spartan Stores, Inc | 1,756 | |||||
5,314 | Sysco Corp | 151,820 | |||||
TOTAL WHOLESALE TRADE-NONDURABLE GOODS | 186,554 | ||||||
TOTAL COMMON STOCKS (Cost $32,095,493) | 29,290,557 | ||||||
RIGHTS / WARRANTS - 0.0% | |||||||
DEPOSITORY INSTITUTIONS - 0.0% | |||||||
471 | m | BankAtlantic Bancorp, Inc | 0 | ||||
TOTAL DEPOSITORY INSTITUTIONS | 0 | ||||||
TOTAL RIGHTS / WARRANTS (Cost $0) | 0 | ||||||
TOTAL INVESTMENTS - 99.2% (Cost $32,095,493) | 29,290,557 | ||||||
OTHER ASSETS & LIABILITIES, NET - 0.8% | 241,683 | ||||||
NET ASSETS - 100.0% | $ | 29,532,240 | |||||
Abbreviation(s):
REIT Real Estate Investment Trust
* | Non-income producing. |
m | Indicates a security that has been deemed illiquid. |
105
TIAA-CREF LIFE FUNDS - Real Estate Securities Fund
TIAA-CREF LIFE FUNDS
REAL ESTATE SECURITIES FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
SHARES | COMPANY | VALUE | |||||
COMMON STOCKS - 98.4% | |||||||
APARTMENT REITS - 12.5% | |||||||
38,000 | American Campus Communities, Inc | $ | 1,037,020 | ||||
28,500 | AvalonBay Communities, Inc | 2,661,045 | |||||
42,000 | Equity Residential | 1,748,880 | |||||
6,500 | Essex Property Trust, Inc | 634,010 | |||||
66,000 | UDR, Inc | 1,262,580 | |||||
TOTAL APARTMENT REITS | 7,343,535 | ||||||
DIVERSIFIED REITS - 9.7% | |||||||
20,000 | Digital Realty Trust, Inc | 1,153,600 | |||||
39,000 | Entertainment Properties Trust | 1,484,730 | |||||
34,801 | Mission West Properties, Inc | 237,343 | |||||
38,000 | Vornado Realty Trust | 2,772,100 | |||||
TOTAL DIVERSIFIED REITS | 5,647,773 | ||||||
FORESTRY - 1.2% | |||||||
20,000 | Plum Creek Timber Co, Inc | 690,600 | |||||
TOTAL FORESTRY | 690,600 | ||||||
HEALTHCARE REITS - 10.8% | |||||||
47,000 | HCP, Inc | 1,515,750 | |||||
37,000 | Health Care REIT, Inc | 1,558,440 | |||||
43,500 | Nationwide Health Properties, Inc | 1,555,995 | |||||
35,500 | Ventas, Inc | 1,666,725 | |||||
TOTAL HEALTHCARE REITS | 6,296,910 | ||||||
HOLDING AND OTHER INVESTMENT OFFICES - 2.3% | |||||||
37,000 | AMB Property Corp | 877,270 | |||||
7,500 | Annaly Mortgage Management, Inc | 128,625 | |||||
8,000 | Home Properties, Inc | 360,560 | |||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 1,366,455 | ||||||
HOTEL REITS - 6.7% | |||||||
30,000 | * | FelCor Lodging Trust, Inc | 149,700 | ||||
177,000 | Host Marriott Corp | 2,385,960 | |||||
100,000 | * | Orient-Express Hotels Ltd (Class A) | 740,000 | ||||
5,000 | Starwood Hotels & Resorts Worldwide, Inc | 207,150 | |||||
45,000 | * | Sunstone Hotel Investors, Inc | 446,850 | ||||
TOTAL HOTEL REITS | �� | 3,929,660 | |||||
HOTELS AND OTHER LODGING PLACES - 0.3% | |||||||
4,500 | * | Vail Resorts, Inc | 157,095 | ||||
TOTAL HOTELS AND OTHER LODGING PLACES | 157,095 | ||||||
INDUSTRIAL REITS - 4.0% | |||||||
19,245 | EastGroup Properties, Inc | 684,737 | |||||
160,000 | Prologis | 1,620,800 | |||||
TOTAL INDUSTRIAL REITS | 2,305,537 | ||||||
106
TIAA-CREF LIFE FUNDS - Real Estate Securities Fund
SHARES | COMPANY | VALUE | |||||
NONDEPOSITORY INSTITUTIONS - 0.0% | |||||||
28,800 | *,g,m | People’s Choice Financial Corp | $ | 0 | |||
TOTAL NONDEPOSITORY INSTITUTIONS | 0 | ||||||
OFFICE PROPERTY REITS - 12.1% | |||||||
17,500 | Alexandria Real Estate Equities, Inc | 1,108,975 | |||||
26,500 | BioMed Realty Trust, Inc | 426,385 | |||||
40,500 | Boston Properties, Inc | 2,889,270 | |||||
15,000 | Corporate Office Properties Trust | 566,400 | |||||
30,000 | Hersha Hospitality Trust | 135,600 | |||||
34,500 | SL Green Realty Corp | 1,898,880 | |||||
TOTAL OFFICE PROPERTY REITS | 7,025,510 | ||||||
REAL ESTATE - 4.8% | |||||||
64,000 | * | CB Richard Ellis Group, Inc (Class A) | 871,040 | ||||
32,000 | * | Forestar Real Estate Group, Inc | 574,720 | ||||
407,000 | Thomas Properties Group, Inc | 1,347,170 | |||||
TOTAL REAL ESTATE | 2,792,930 | ||||||
REGIONAL MALL REITS - 14.8% | |||||||
30,000 | Glimcher Realty Trust | 179,400 | |||||
65,000 | Macerich Co | 2,425,800 | |||||
75,000 | Simon Property Group, Inc | 6,056,250 | |||||
TOTAL REGIONAL MALL REITS | 8,661,450 | ||||||
SHOPPING CENTER REITS - 8.5% | |||||||
165,000 | Developers Diversified Realty Corp | 1,633,500 | |||||
14,000 | Federal Realty Investment Trust | 983,780 | |||||
70,000 | Kimco Realty Corp | 940,800 | |||||
40,000 | Regency Centers Corp | 1,376,000 | |||||
TOTAL SHOPPING CENTER REITS | 4,934,080 | ||||||
SINGLE TENANT REITS - 1.6% | |||||||
30,000 | Realty Income Corp | 909,900 | |||||
TOTAL SINGLE TENANT REITS | 909,900 | ||||||
STORAGE REITS - 9.1% | |||||||
19,000 | Extra Space Storage, Inc | 264,100 | |||||
42,000 | Public Storage, Inc | 3,692,220 | |||||
15,000 | Sovran Self Storage, Inc | 516,450 | |||||
110,000 | U-Store-It Trust | 820,600 | |||||
TOTAL STORAGE REITS | 5,293,370 | ||||||
TOTAL COMMON STOCKS (Cost $61,617,078) | 57,354,805 | ||||||
PREFERRED STOCK - 1.0% | |||||||
OFFICE PROPERTY REITS - 0.5% | |||||||
13,000 | SL Green Realty Corp | 308,620 | |||||
TOTAL OFFICE PROPERTY REITS | 308,620 | ||||||
107
TIAA-CREF LIFE FUNDS - Real Estate Securities Fund
SHARES | COMPANY | VALUE | |||||
REGIONAL MALL REITS - 0.5% | |||||||
13,000 | CBL & Associates Properties, Inc | $ | 276,770 | ||||
TOTAL REGIONAL MALL REITS | 276,770 | ||||||
TOTAL PREFERRED STOCK (Cost $570,205) | 585,390 | ||||||
TOTAL INVESTMENTS - 99.4% (Cost $62,187,283) | 57,940,195 | ||||||
OTHER ASSETS & LIABILITIES, NET - 0.6% | 362,248 | ||||||
NET ASSETS - 100.0% | $ | 58,302,443 | |||||
Abbreviation(s):
REIT Real Estate Investment Trust
* | Non-income producing. |
g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At June 30, 2010, the value of these securities amounted to $0 or 0.00% of net assets. |
m | Indicates a security that has been deemed illiquid. |
108
TIAA-CREF LIFE FUNDS - Bond Fund
TIAA-CREF LIFE FUNDS
BOND FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
MATURITY | ||||||||||||
PRINCIPAL | ISSUER | RATE | DATE | VALUE | ||||||||
BONDS - 96.7% | ||||||||||||
CORPORATE BONDS - 27.6% |
| |||||||||||
AGENCY SECURITIES - 6.4% |
| |||||||||||
$1,000,000 | Bank of America Corp | 2.380 | % | 06/22/12 | $ | 1,030,499 | ||||||
1,000,000 | Citigroup Funding, Inc | 1.880 | 10/22/12 | 1,021,020 | ||||||||
1,000,000 | Citigroup, Inc | 2.130 | 04/30/12 | 1,024,509 | ||||||||
500,000 | General Electric Capital Corp | 2.250 | 03/12/12 | 512,978 | ||||||||
200,000 | General Electric Capital Corp | 2.200 | 06/08/12 | 205,278 | ||||||||
200,000 | General Electric Capital Corp | 2.130 | 12/21/12 | 205,618 | ||||||||
450,000 | GMAC, Inc | 1.750 | 10/30/12 | 457,808 | ||||||||
1,700,000 | GMAC, Inc | 2.200 | 12/19/12 | 1,746,752 | ||||||||
500,000 | KeyBank NA | 3.200 | 06/15/12 | 523,084 | ||||||||
250,000 | New York Community Bank | 3.000 | 12/16/11 | 258,570 | ||||||||
500,000 | Regions Bank | 3.250 | 12/09/11 | 518,199 | ||||||||
500,000 | Sovereign Bank | 2.750 | 01/17/12 | 516,712 | ||||||||
350,000 | State Street Corp | 2.150 | 04/30/12 | 358,416 | ||||||||
100,000 | Wells Fargo & Co | 2.130 | 06/15/12 | 102,687 | ||||||||
TOTAL AGENCY SECURITIES | 8,482,130 | |||||||||||
AMUSEMENT AND RECREATION SERVICES - 0.1% |
| |||||||||||
100,000 | Walt Disney Co | 4.500 | 12/15/13 | 110,136 | ||||||||
TOTAL AMUSEMENT AND RECREATION SERVICES | 110,136 | |||||||||||
AUTO REPAIR, SERVICES AND PARKING - 0.0% |
| |||||||||||
40,000 | g | ERAC USA Finance LLC | 5.250 | 10/01/20 | 40,421 | |||||||
TOTAL AUTO REPAIR, SERVICES AND PARKING | 40,421 | |||||||||||
AUTOMOTIVE DEALERS AND SERVICE STATIONS - 0.0% |
| |||||||||||
50,000 | Advance Auto Parts, Inc | 5.750 | 05/01/20 | 51,124 | ||||||||
TOTAL AUTOMOTIVE DEALERS AND SERVICE STATIONS | 51,124 | |||||||||||
BUILDING MATERIALS AND GARDEN SUPPLIES - 0.0% |
| |||||||||||
25,000 | Home Depot, Inc | 5.250 | 12/16/13 | 27,489 | ||||||||
TOTAL BUILDING MATERIALS AND GARDEN SUPPLIES | 27,489 | |||||||||||
BUSINESS SERVICES - 0.1% |
| |||||||||||
50,000 | Adobe Systems, Inc | 3.250 | 02/01/15 | 51,348 | ||||||||
63,000 | Lamar Media Corp | 6.630 | 08/15/15 | 59,693 | ||||||||
50,000 | Oracle Corp | 3.750 | 07/08/14 | 53,531 | ||||||||
25,000 | Oracle Corp | 5.750 | 04/15/18 | 28,942 | ||||||||
90,000 | Sungard Data Systems, Inc | 10.250 | 08/15/15 | 92,926 | ||||||||
TOTAL BUSINESS SERVICES | 286,440 | |||||||||||
CHEMICALS AND ALLIED PRODUCTS - 1.2% |
| |||||||||||
50,000 | Abbott Laboratories | 5.600 | 05/15/11 | 52,073 | ||||||||
80,000 | Abbott Laboratories | 4.130 | 05/27/20 | 83,806 | ||||||||
100,000 | Air Products & Chemicals, Inc | 4.150 | 02/01/13 | 105,093 | ||||||||
35,000 | Air Products & Chemicals, Inc | 4.380 | 08/21/19 | 36,538 | ||||||||
10,000 | Airgas, Inc | 4.500 | 09/15/14 | 10,398 | ||||||||
50,000 | EI Du Pont de Nemours & Co | 3.250 | 01/15/15 | 52,161 | ||||||||
65,000 | Eli Lilly & Co | 3.550 | 03/06/12 | 67,782 | ||||||||
25,000 | GlaxoSmithKline Capital, Inc | 5.650 | 05/15/18 | 28,607 | ||||||||
50,000 | Johnson & Johnson | 5.850 | 07/15/38 | 58,818 | ||||||||
35,000 | Life Technologies Corp | 3.380 | 03/01/13 | 35,776 |
109
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$40,000 | Life Technologies Corp | 4.400 | 03/01/15 | $ | 41,375 | |||||||
35,000 | Novartis Capital Corp | 4.130 | 02/10/14 | 37,763 | ||||||||
200,000 | Novartis Capital Corp | 2.900 | 04/24/15 | 205,742 | ||||||||
35,000 | Novartis Capital Corp | 4.400 | 04/24/20 | 37,734 | ||||||||
100,000 | Pfizer, Inc | 4.450 | 03/15/12 | 105,497 | ||||||||
35,000 | Pfizer, Inc | 5.350 | 03/15/15 | 39,654 | ||||||||
100,000 | Pfizer, Inc | 6.200 | % | 03/15/19 | 118,840 | |||||||
75,000 | Potash Corp of Saskatchewan, Inc | 4.880 | 03/30/20 | 79,789 | ||||||||
50,000 | Praxair, Inc | 5.250 | 11/15/14 | 56,110 | ||||||||
65,000 | Procter & Gamble Co | 5.550 | 03/05/37 | 73,452 | ||||||||
100,000 | g | Sociedad Quimica y Minera de Chile S.A. | 5.500 | 04/21/20 | 101,176 | |||||||
50,000 | Teva Pharmaceutical Finance LLC | 3.000 | 06/15/15 | 50,980 | ||||||||
TOTAL CHEMICALS AND ALLIED PRODUCTS | 1,479,164 | |||||||||||
COMMUNICATIONS - 2.4% |
| |||||||||||
40,000 | g | America Movil SAB de C.V. | 5.000 | 03/30/20 | 41,327 | |||||||
50,000 | American Tower Corp | 4.630 | 04/01/15 | 52,012 | ||||||||
100,000 | AT&T, Inc | 6.150 | 09/15/34 | 104,993 | ||||||||
125,000 | AT&T, Inc | 6.300 | 01/15/38 | 135,648 | ||||||||
25,000 | BellSouth Capital Funding Corp | 7.880 | 02/15/30 | 30,644 | ||||||||
100,000 | BellSouth Corp | 6.880 | 10/15/31 | 113,910 | ||||||||
175,000 | Cellco Partnership | 3.750 | 05/20/11 | 179,240 | ||||||||
25,000 | Cellco Partnership | 5.550 | 02/01/14 | 28,029 | ||||||||
175,000 | Cellco Partnership | 8.500 | 11/15/18 | 227,523 | ||||||||
50,000 | Comcast Corp | 5.150 | 03/01/20 | 52,347 | ||||||||
125,000 | Comcast Corp | 6.400 | 03/01/40 | 134,540 | ||||||||
100,000 | Deutsche Telekom International Finance BV | 8.750 | 06/15/30 | 129,170 | ||||||||
25,000 | DIRECTV Holdings LLC | 4.750 | 10/01/14 | 26,477 | ||||||||
200,000 | DIRECTV Holdings LLC | 3.550 | 03/15/15 | 201,326 | ||||||||
200,000 | DIRECTV Holdings LLC | 5.200 | 03/15/20 | 208,442 | ||||||||
25,000 | g | NBC Universal, Inc | 5.150 | 04/30/20 | 26,075 | |||||||
75,000 | New Cingular Wireless Services, Inc | 8.750 | 03/01/31 | 102,960 | ||||||||
100,000 | Sprint Capital Corp | 8.750 | 03/15/32 | 95,500 | ||||||||
50,000 | Telecom Italia Capital S.A. | 6.180 | 06/18/14 | 52,272 | ||||||||
25,000 | Telecom Italia Capital S.A. | 7.000 | 06/04/18 | 26,629 | ||||||||
200,000 | Telecom Italia Capital S.A. | 7.180 | 06/18/19 | 215,322 | ||||||||
135,000 | Telefonica Emisiones SAU | 5.130 | 04/27/20 | 135,310 | ||||||||
100,000 | g | Telefonos de Mexico SAB de C.V. | 5.500 | 11/15/19 | 104,661 | |||||||
75,000 | Time Warner Cable, Inc | 6.200 | 07/01/13 | 83,883 | ||||||||
50,000 | Time Warner Cable, Inc | 6.750 | 07/01/18 | 57,394 | ||||||||
100,000 | Time Warner Cable, Inc | 8.750 | 02/14/19 | 126,174 | ||||||||
125,000 | Time Warner Cable, Inc | 8.250 | 04/01/19 | 153,725 | ||||||||
100,000 | Verizon Communications, Inc | 4.350 | 02/15/13 | 106,896 | ||||||||
40,000 | Verizon Communications, Inc | 8.750 | 11/01/18 | 51,999 | ||||||||
50,000 | Verizon Communications, Inc | 6.250 | 04/01/37 | 53,717 | ||||||||
50,000 | Verizon Communications, Inc | 6.400 | 02/15/38 | 55,103 | ||||||||
25,000 | Verizon Communications, Inc | 8.950 | 03/01/39 | 35,414 | ||||||||
25,000 | Viacom, Inc | 4.380 | 09/15/14 | 26,572 | ||||||||
TOTAL COMMUNICATIONS | 3,175,234 | |||||||||||
DEPOSITORY INSTITUTIONS - 4.3% |
| |||||||||||
100,000 | g | Banco Santander Brasil | 4.500 | 04/06/15 | 98,500 | |||||||
100,000 | g,i | Banco Santander Chile | 1.560 | 04/20/12 | 99,941 | |||||||
50,000 | Bank of America Corp | 7.380 | 05/15/14 | 56,038 | ||||||||
150,000 | Bank of America Corp | 4.500 | 04/01/15 | 151,608 | ||||||||
200,000 | Bank of America Corp | 5.300 | 03/15/17 | 201,379 | ||||||||
75,000 | Bank of America Corp | 5.750 | 12/01/17 | 77,781 | ||||||||
500,000 | g | Bank of Montreal | 2.850 | 06/09/15 | 508,172 | |||||||
50,000 | Bank of New York Mellon Corp | 4.300 | 05/15/14 | 53,702 | ||||||||
50,000 | Bank of New York Mellon Corp | 5.450 | 05/15/19 | 55,820 | ||||||||
100,000 | Bank One Corp | 5.250 | 01/30/13 | 106,424 |
110
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$50,000 | Barclays Bank plc | 5.200 | 07/10/14 | $ | 52,768 | |||||||
50,000 | g | Barclays Bank plc | 6.050 | 12/04/17 | 50,462 | |||||||
75,000 | BB&T Corp | 3.850 | 07/27/27 | 78,186 | ||||||||
100,000 | g | Canadian Imperial Bank of Commerce | 2.000 | 02/04/13 | 101,112 | |||||||
200,000 | g | Canadian Imperial Bank of Commerce | 2.600 | 07/02/15 | 200,667 | |||||||
50,000 | Capital One Bank USA NA | 8.800 | 07/15/19 | 62,421 | ||||||||
50,000 | Capital One Capital V | 8.880 | 05/15/40 | 52,069 | ||||||||
100,000 | Citigroup, Inc | 5.100 | 09/29/11 | 102,825 | ||||||||
50,000 | Citigroup, Inc | 5.500 | 10/15/14 | 51,406 | ||||||||
75,000 | Citigroup, Inc | 6.130 | 05/15/18 | 78,276 | ||||||||
100,000 | Citigroup, Inc | 8.500 | % | 05/22/19 | 119,212 | |||||||
75,000 | Citigroup, Inc | 6.880 | 03/05/38 | 78,680 | ||||||||
50,000 | Citigroup, Inc | 8.130 | 07/15/39 | 59,649 | ||||||||
150,000 | Credit Suisse | 5.000 | 05/15/13 | 160,257 | ||||||||
100,000 | Credit Suisse | 5.500 | 05/01/14 | 109,334 | ||||||||
50,000 | Credit Suisse | 5.300 | 08/13/19 | 53,003 | ||||||||
900,000 | g | Depfa ACS Bank | 5.130 | 03/16/37 | 657,743 | |||||||
100,000 | Deutsche Bank AG. | 3.880 | 08/18/14 | 103,299 | ||||||||
50,000 | Discover Bank | 7.000 | 04/15/20 | 50,487 | ||||||||
100,000 | g | Hana Bank | 4.500 | 10/30/15 | 99,784 | |||||||
100,000 | g | Itau Unibanco Banco Multiplo S.A. | 6.200 | 04/15/20 | 102,500 | |||||||
25,000 | JPMorgan Chase & Co | 6.000 | 01/15/18 | 27,606 | ||||||||
150,000 | JPMorgan Chase & Co | 6.300 | 04/23/19 | 169,424 | ||||||||
75,000 | JPMorgan Chase & Co | 4.950 | 03/25/20 | 77,944 | ||||||||
100,000 | JPMorgan Chase & Co | 6.400 | 05/15/38 | 115,752 | ||||||||
50,000 | g | Lloyds TSB Bank plc | 5.800 | 01/13/20 | 47,195 | |||||||
175,000 | Northern Trust Corp | 4.630 | 05/01/14 | 191,292 | ||||||||
100,000 | PNC Funding Corp | 5.130 | 02/08/20 | 103,982 | ||||||||
140,000 | g,i | Rabobank Nederland NV | 11.000 | 12/30/49 | 172,900 | |||||||
25,000 | Regions Financial Corp | 4.880 | 04/26/13 | 25,129 | ||||||||
25,000 | Regions Financial Corp | 5.750 | 06/15/15 | 24,842 | ||||||||
300,000 | g | Royal Bank of Canada | 3.130 | 04/14/15 | 311,187 | |||||||
75,000 | State Street Corp | 4.300 | 05/30/14 | 79,871 | ||||||||
150,000 | Union Bank of California NA | 5.950 | 05/11/16 | 160,862 | ||||||||
25,000 | USB Capital XIII Trust | 6.630 | 12/15/39 | 26,359 | ||||||||
25,000 | Wachovia Bank NA | 4.800 | 11/01/14 | 26,180 | ||||||||
100,000 | Wachovia Bank NA | 5.850 | 02/01/37 | 99,304 | ||||||||
100,000 | Wells Fargo & Co | 4.750 | 02/09/15 | 104,661 | ||||||||
40,000 | Zions Bancorporation | 7.750 | 09/23/14 | 40,759 | ||||||||
TOTAL DEPOSITORY INSTITUTIONS | 5,638,754 | |||||||||||
ELECTRIC, GAS, AND SANITARY SERVICES - 1.7% |
| |||||||||||
50,000 | AGL Capital Corp | 5.250 | 08/15/19 | 52,885 | ||||||||
75,000 | Alliant Energy Corp | 1.000 | 10/15/14 | 77,392 | ||||||||
75,000 | Atmos Energy Corp | 8.500 | 03/15/19 | 94,262 | ||||||||
200,000 | Carolina Power & Light Co | 5.300 | 01/15/19 | 223,630 | ||||||||
50,000 | CenterPoint Energy Houston Electric LLC | 7.000 | 03/01/14 | 58,005 | ||||||||
100,000 | g | Colbun S.A. | 6.000 | 01/21/20 | 104,403 | |||||||
25,000 | Connecticut Light & Power Co | 5.500 | 02/01/19 | 27,787 | ||||||||
20,000 | Consolidated Edison Co of New York, Inc | 4.450 | 06/15/20 | 21,199 | ||||||||
35,000 | Consolidated Edison Co of New York, Inc | 5.700 | 06/15/40 | 37,730 | ||||||||
100,000 | Duke Energy Carolinas LLC | 5.750 | 11/15/13 | 113,206 | ||||||||
15,000 | Duke Energy Carolinas LLC | 4.300 | 06/15/20 | 15,841 | ||||||||
50,000 | FirstEnergy Solutions Corp | 4.800 | 02/15/15 | 52,320 | ||||||||
50,000 | FirstEnergy Solutions Corp | 6.050 | 08/15/21 | 50,997 | ||||||||
50,000 | Indiana Michigan Power Co | 7.000 | 03/15/19 | 58,501 | ||||||||
50,000 | Kinder Morgan Energy Partners LP | 6.500 | 09/01/39 | 51,526 | ||||||||
100,000 | Nevada Power Co | 6.650 | 04/01/36 | 113,705 | ||||||||
50,000 | NiSource Finance Corp | 10.750 | 03/15/16 | 64,077 | ||||||||
75,000 | Pacific Gas & Electric Co | 8.250 | 10/15/18 | 95,962 | ||||||||
50,000 | PacifiCorp | 6.000 | 01/15/39 | 57,437 | ||||||||
50,000 | PG&E Corp | 5.750 | 04/01/14 | 55,392 | ||||||||
103,000 | Progress Energy, Inc | 7.100 | 03/01/11 | 107,096 |
111
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$50,000 | Progress Energy, Inc | 7.050 | 03/15/19 | $ | 59,072 | |||||||
100,000 | Public Service Co of Oklahoma | 5.150 | 12/01/19 | 105,303 | ||||||||
30,000 | g | Republic Services, Inc | 5.000 | 03/01/20 | 31,108 | |||||||
25,000 | g | Republic Services, Inc | 5.250 | 11/15/21 | 26,304 | |||||||
40,000 | g | Republic Services, Inc | 6.200 | 03/01/40 | 42,902 | |||||||
25,000 | San Diego Gas & Electric Co | 5.350 | 05/15/40 | 26,984 | ||||||||
50,000 | Sempra Energy | 6.000 | 10/15/39 | 53,052 | ||||||||
25,000 | Veolia Environnement | 5.250 | 06/03/13 | 26,983 | ||||||||
100,000 | Virginia Electric and Power Co | 4.750 | 03/01/13 | 108,316 | ||||||||
50,000 | g | Williams Partners LP | 3.800 | 02/15/15 | 50,325 | |||||||
75,000 | g | Williams Partners LP | 5.250 | 03/15/20 | 76,692 | |||||||
75,000 | g | Williams Partners LP | 6.300 | % | 04/15/40 | 75,353 | ||||||
TOTAL ELECTRIC, GAS, AND SANITARY SERVICES | 2,215,747 | |||||||||||
ELECTRONIC AND OTHER ELECTRIC EQUIPMENT - 0.5% |
| |||||||||||
50,000 | Amphenol Corp | 4.750 | 11/15/14 | 52,981 | ||||||||
50,000 | Analog Devices, Inc | 5.000 | 07/01/14 | 54,043 | ||||||||
65,000 | Cisco Systems, Inc | 4.450 | 01/15/20 | 68,616 | ||||||||
50,000 | Hewlett-Packard Co | 2.950 | 08/15/12 | 51,823 | ||||||||
50,000 | L-3 Communications Corp | 6.380 | 10/15/15 | 50,000 | ||||||||
35,000 | L-3 Communications Corp | 5.200 | 10/15/19 | 36,507 | ||||||||
50,000 | Tyco International Finance S.A. | 6.000 | 11/15/13 | 55,965 | ||||||||
25,000 | Tyco International Finance S.A. | 4.130 | 10/15/14 | 26,538 | ||||||||
75,000 | Whirlpool Corp | 8.000 | 05/01/12 | 82,048 | ||||||||
TOTAL ELECTRONIC AND OTHER ELECTRIC EQUIPMENT | 478,521 | |||||||||||
EXECUTIVE, LEGISLATIVE AND GENERAL - 0.1% |
| |||||||||||
100,000 | g | National Agricultural Cooperative Federation | 5.000 | 09/30/14 | 104,070 | |||||||
TOTAL EXECUTIVE, LEGISLATIVE AND GENERAL | 104,070 | |||||||||||
FABRICATED METAL PRODUCTS - 0.1% |
| |||||||||||
25,000 | CRH America, Inc | 6.950 | 03/15/12 | 27,074 | ||||||||
100,000 | Valmont Industries, Inc | 6.630 | 04/20/20 | 102,480 | ||||||||
TOTAL FABRICATED METAL PRODUCTS | 129,554 | |||||||||||
FOOD AND KINDRED PRODUCTS - 0.7% |
| |||||||||||
50,000 | Coca-Cola Enterprises, Inc | 4.250 | 03/01/15 | 54,071 | ||||||||
7,000 | ConAgra Foods, Inc | 6.750 | 09/15/11 | 7,438 | ||||||||
98,000 | ConAgra Foods, Inc | 5.820 | 06/15/17 | 110,558 | ||||||||
25,000 | Dr Pepper Snapple Group, Inc | 6.120 | 05/01/13 | 27,818 | ||||||||
50,000 | Dr Pepper Snapple Group, Inc | 6.820 | 05/01/18 | 59,633 | ||||||||
25,000 | Dr Pepper Snapple Group, Inc | 7.450 | 05/01/38 | 32,073 | ||||||||
50,000 | General Mills, Inc | 5.250 | 08/15/13 | 55,150 | ||||||||
50,000 | General Mills, Inc | 5.650 | 02/15/19 | 56,814 | ||||||||
100,000 | g | Grupo Bimbo SAB de C.V. | 4.880 | 06/30/20 | 100,802 | |||||||
100,000 | g | HJ Heinz Finance Co | 7.130 | 08/01/39 | 122,257 | |||||||
25,000 | Kraft Foods, Inc | 6.130 | 02/01/18 | 28,372 | ||||||||
50,000 | Kraft Foods, Inc | 5.380 | 02/10/20 | 53,578 | ||||||||
50,000 | Kraft Foods, Inc | 6.500 | 02/09/40 | 55,916 | ||||||||
100,000 | g | Mead Johnson Nutrition Co | 4.900 | 11/01/19 | 105,742 | |||||||
50,000 | g | Mead Johnson Nutrition Co | 5.900 | 11/01/39 | 53,424 | |||||||
25,000 | PepsiCo, Inc | 7.900 | 11/01/18 | 32,324 | ||||||||
TOTAL FOOD AND KINDRED PRODUCTS | 955,970 | |||||||||||
FOOD STORES - 0.1% |
| |||||||||||
50,000 | Delhaize Group S.A. | 5.880 | 02/01/14 | 55,802 | ||||||||
50,000 | Delhaize Group S.A. | 6.500 | 06/15/17 | 57,616 |
112
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$25,000 | Safeway, Inc | 5.000 | 08/15/19 | $ | 26,832 | |||||||
TOTAL FOOD STORES | 140,250 | |||||||||||
GENERAL MERCHANDISE STORES - 0.2% |
| |||||||||||
50,000 | JC Penney Corp, Inc | 5.750 | 02/15/18 | 50,125 | ||||||||
65,000 | JC Penney Corp, Inc | 5.650 | 06/01/20 | 63,537 | ||||||||
50,000 | Macy’s Retail Holdings, Inc | 5.900 | 12/01/16 | 50,125 | ||||||||
25,000 | TJX Cos, Inc | 6.950 | 04/15/19 | 31,039 | ||||||||
50,000 | Wal-Mart Stores, Inc | 5.250 | 09/01/35 | 52,660 | ||||||||
TOTAL GENERAL MERCHANDISE STORES | 247,486 | |||||||||||
HEALTH SERVICES - 0.1% |
| |||||||||||
100,000 | Quest Diagnostics, Inc | 6.400 | % | 07/01/17 | 114,229 | |||||||
TOTAL HEALTH SERVICES | 114,229 | |||||||||||
HOLDING AND OTHER INVESTMENT OFFICES - 0.5% |
| |||||||||||
30,000 | AMB Property LP | 6.630 | 12/01/19 | 32,327 | ||||||||
10,000 | g | BioMed Realty LP | 6.130 | 04/15/20 | 10,412 | |||||||
15,000 | Boston Properties LP | 5.880 | 10/15/19 | 16,048 | ||||||||
25,000 | Boston Properties LP | 2.880 | 02/15/37 | 24,656 | ||||||||
25,000 | Brandywine Operating Partnership LP | 7.500 | 05/15/15 | 27,260 | ||||||||
25,000 | Brandywine Operating Partnership LP | 5.700 | 05/01/17 | 24,425 | ||||||||
15,000 | Developers Diversified Realty Corp | 9.630 | 03/15/16 | 16,275 | ||||||||
25,000 | Developers Diversified Realty Corp | 7.500 | 04/01/17 | 24,535 | ||||||||
25,000 | g | Digital Realty Trust LP | 4.500 | 07/15/15 | 24,924 | |||||||
25,000 | Health Care REIT, Inc | 6.130 | 04/15/20 | 25,861 | ||||||||
100,000 | g | HSBC Bank plc | 3.500 | 06/28/15 | 100,962 | |||||||
10,000 | Kimco Realty Corp | 5.700 | 05/01/17 | 10,457 | ||||||||
20,000 | Mack-Cali Realty Corp | 7.750 | 08/15/19 | 23,502 | ||||||||
10,000 | National Retail Properties, Inc | 6.880 | 10/15/17 | 10,936 | ||||||||
25,000 | Nationwide Health Properties, Inc | 6.250 | 02/01/13 | 26,852 | ||||||||
15,000 | ProLogis | 7.630 | 08/15/14 | 15,919 | ||||||||
40,000 | ProLogis | 5.630 | 11/15/16 | 37,604 | ||||||||
15,000 | ProLogis | 7.380 | 10/30/19 | 14,691 | ||||||||
25,000 | Realty Income Corp | 5.950 | 09/15/16 | 27,190 | ||||||||
35,000 | Realty Income Corp | 5.750 | 01/15/21 | 35,704 | ||||||||
10,000 | Simon Property Group LP | 6.750 | 05/15/14 | 11,239 | ||||||||
25,000 | Simon Property Group LP | 5.250 | 12/01/16 | 26,623 | ||||||||
40,000 | Simon Property Group LP | 10.350 | 04/01/19 | 53,241 | ||||||||
TOTAL HOLDING AND OTHER INVESTMENT OFFICES | 621,643 | |||||||||||
INDUSTRIAL MACHINERY AND EQUIPMENT - 0.2% |
| |||||||||||
25,000 | Black & Decker Corp | 8.950 | 04/15/14 | 30,425 | ||||||||
75,000 | Hewlett-Packard Co | 4.250 | 02/24/12 | �� | 79,034 | |||||||
25,000 | Hewlett-Packard Co | 4.750 | 06/02/14 | 27,700 | ||||||||
50,000 | ITT Corp | 4.900 | 05/01/14 | 54,485 | ||||||||
20,000 | John Deere Capital Corp | 2.950 | 03/09/15 | 20,536 | ||||||||
25,000 | Xerox Corp | 8.250 | 05/15/14 | 29,304 | ||||||||
25,000 | Xerox Corp | 5.630 | 12/15/19 | 26,603 | ||||||||
TOTAL INDUSTRIAL MACHINERY AND EQUIPMENT | 268,087 | |||||||||||
INSTRUMENTS AND RELATED PRODUCTS - 0.5% |
| |||||||||||
50,000 | Agilent Technologies, Inc | 4.450 | 09/14/12 | 52,174 | ||||||||
50,000 | Boston Scientific Corp | 4.500 | 01/15/15 | 49,117 |
113
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$100,000 | Medtronic, Inc | 4.750 | 09/15/15 | $ | 111,396 | |||||||
50,000 | Medtronic, Inc | 4.450 | 03/15/20 | 53,280 | ||||||||
80,000 | Stryker Corp | 3.000 | 01/15/15 | 82,602 | ||||||||
50,000 | Stryker Corp | 4.380 | 01/15/20 | 53,184 | ||||||||
15,000 | Thermo Fisher Scientific, Inc | 4.700 | 05/01/20 | 16,157 | ||||||||
100,000 | Xerox Corp | 7.630 | 06/15/13 | 101,752 | ||||||||
TOTAL INSTRUMENTS AND RELATED PRODUCTS | 519,662 | |||||||||||
INSURANCE AGENTS, BROKERS AND SERVICE - 0.1% |
| |||||||||||
75,000 | Hartford Financial Services Group, Inc | 4.000 | 03/30/15 | 73,634 | ||||||||
75,000 | Hartford Financial Services Group, Inc | 5.500 | 03/30/20 | 72,794 | ||||||||
50,000 | Hartford Financial Services Group, Inc | 6.630 | 03/30/40 | 46,429 | ||||||||
TOTAL INSURANCE AGENTS, BROKERS AND SERVICE | 192,857 | |||||||||||
INSURANCE CARRIERS - 0.8% |
| |||||||||||
50,000 | ACE INA Holdings, Inc | 5.880 | 06/15/14 | 55,312 | ||||||||
150,000 | Aflac, Inc | 8.500 | 05/15/19 | 180,477 | ||||||||
25,000 | Aflac, Inc | 6.900 | 12/17/39 | 25,987 | ||||||||
75,000 | Allstate Corp | 7.450 | 05/16/19 | 88,392 | ||||||||
100,000 | Chubb Corp | 6.000 | 05/11/37 | 108,146 | ||||||||
20,000 | CIGNA Corp | 5.130 | 06/15/20 | 20,816 | ||||||||
75,000 | Lincoln National Corp | 7.000 | 06/15/40 | 78,993 | ||||||||
50,000 | Metlife, Inc | 5.000 | % | 06/15/15 | 53,444 | |||||||
100,000 | Metlife, Inc | 6.750 | 06/01/16 | 113,136 | ||||||||
100,000 | g | Principal Life Global Funding I | 5.130 | 10/15/13 | 105,079 | |||||||
100,000 | g | Prudential Funding LLC | 6.750 | 09/15/23 | 106,946 | |||||||
25,000 | Travelers Cos, Inc | 5.800 | 05/15/18 | 27,421 | ||||||||
25,000 | Travelers Cos, Inc | 5.900 | 06/02/19 | 27,758 | ||||||||
100,000 | Travelers Property Casualty Corp | 6.380 | 03/15/33 | 110,150 | ||||||||
TOTAL INSURANCE CARRIERS | 1,102,057 | |||||||||||
METAL MINING - 0.1% |
| |||||||||||
50,000 | Freeport-McMoRan Copper & Gold, Inc | 8.380 | 04/01/17 | 55,000 | ||||||||
25,000 | Newmont Mining Corp | 6.250 | 10/01/39 | 27,283 | ||||||||
50,000 | Rio Tinto Finance USA Ltd | 5.880 | 07/15/13 | 54,783 | ||||||||
50,000 | Rio Tinto Finance USA Ltd | 6.500 | 07/15/18 | 56,987 | ||||||||
TOTAL METAL MINING | 194,053 | |||||||||||
MISCELLANEOUS RETAIL - 0.1% |
| |||||||||||
50,000 | CVS Caremark Corp | 3.250 | 05/18/15 | 50,788 | ||||||||
25,000 | CVS Caremark Corp | 4.750 | 05/18/20 | 25,592 | ||||||||
25,000 | Staples, Inc | 9.750 | 01/15/14 | 30,667 | ||||||||
TOTAL MISCELLANEOUS RETAIL | 107,047 | |||||||||||
MOTION PICTURES - 0.0% |
| |||||||||||
50,000 | Time Warner, Inc | 6.500 | 11/15/36 | 54,378 | ||||||||
TOTAL MOTION PICTURES | 54,378 | |||||||||||
NONDEPOSITORY INSTITUTIONS - 2.4% |
| |||||||||||
25,000 | American Express Co | 7.000 | 03/19/18 | 28,835 | ||||||||
125,000 | American Express Co | 8.130 | 05/20/19 | 155,199 | ||||||||
50,000 | Barrick Australian Finance Pty Ltd | 5.950 | 10/15/39 | 53,282 | ||||||||
500,000 | g | CDP Financial, Inc | 3.000 | 11/25/14 | 504,606 | |||||||
25,000 | General Electric Capital Corp | 5.880 | 02/15/12 | 26,569 | ||||||||
375,000 | General Electric Capital Corp | 5.500 | 06/04/14 | 409,753 | ||||||||
100,000 | General Electric Capital Corp | 3.500 | 06/29/15 | 99,912 | ||||||||
100,000 | General Electric Capital Corp | 5.500 | 01/08/20 | 105,676 | ||||||||
100,000 | HSBC Finance Corp | 5.250 | 01/14/11 | 101,679 |
114
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$200,000 | HSBC Finance Corp | 6.380 | 11/27/12 | $ | 215,988 | |||||||
25,000 | g | International Lease Finance Corp | 8.630 | 09/15/15 | 23,688 | |||||||
300,000 | Kreditanstalt fuer Wiederaufbau | 4.500 | 07/16/18 | 326,043 | ||||||||
500,000 | Kreditanstalt fuer Wiederaufbau | 4.000 | 01/27/20 | 520,029 | ||||||||
100,000 | Landwirtschaftliche Rentenbank | 5.250 | 07/02/12 | 107,955 | ||||||||
100,000 | MBNA Corp | 6.130 | 03/01/13 | 107,355 | ||||||||
55,000 | National Rural Utilities Cooperative Finance Corp | 2.610 | 09/16/12 | 56,425 | ||||||||
50,000 | National Rural Utilities Cooperative Finance Corp | 10.380 | 11/01/18 | 69,334 | ||||||||
100,000 | g | TNK-BP Finance S.A. | 6.250 | 02/02/15 | 100,250 | |||||||
296,875 | Totem Ocean Trailer Express, Inc | 4.510 | 12/18/19 | 322,255 | ||||||||
TOTAL NONDEPOSITORY INSTITUTIONS | 3,334,833 | |||||||||||
OIL AND GAS EXTRACTION - 1.5% |
| |||||||||||
50,000 | Anadarko Petroleum Corp | 5.950 | 09/15/16 | 43,035 | ||||||||
30,000 | Anadarko Petroleum Corp | 8.700 | 03/15/19 | 28,324 | ||||||||
50,000 | Anadarko Petroleum Corp | 7.950 | 06/15/39 | 42,693 | ||||||||
75,000 | Baker Hughes, Inc | 6.500 | 11/15/13 | 85,679 | ||||||||
100,000 | Baker Hughes, Inc | 6.880 | 01/15/29 | 117,653 | ||||||||
50,000 | BJ Services Co | 5.750 | 06/01/11 | 52,067 | ||||||||
100,000 | Burlington Resources Finance Co | 7.200 | 08/15/31 | 119,939 | ||||||||
25,000 | Cenovus Energy, Inc | 4.500 | 09/15/14 | 26,705 | ||||||||
25,000 | EnCana Corp | 6.500 | 05/15/19 | 28,730 | ||||||||
25,000 | EnCana Corp | 6.630 | 08/15/37 | 27,932 | ||||||||
75,000 | Enterprise Products Operating LLC | 4.600 | 08/01/12 | 78,441 | ||||||||
25,000 | Enterprise Products Operating LLC | 5.000 | 03/01/15 | 26,300 | ||||||||
75,000 | Enterprise Products Operating LLC | 5.200 | 09/01/20 | 77,026 | ||||||||
100,000 | Enterprise Products Operating LLC | 6.130 | 10/15/39 | 99,786 | ||||||||
75,000 | EOG Resources, Inc | 4.400 | 06/01/20 | 77,536 | ||||||||
50,000 | Husky Energy, Inc | 6.800 | 09/15/37 | 56,989 | ||||||||
25,000 | Nexen, Inc | 6.400 | 05/15/37 | 26,070 | ||||||||
75,000 | Nexen, Inc | 7.500 | % | 07/30/39 | 87,896 | |||||||
20,000 | Pemex Project Funding Master Trust | 5.750 | 03/01/18 | 20,952 | ||||||||
25,000 | Pemex Project Funding Master Trust | 6.630 | 06/15/38 | 25,507 | ||||||||
60,000 | Petrobras International Finance Co | 7.880 | 03/15/19 | 68,649 | ||||||||
59,000 | Petrobras International Finance Co | 6.880 | 01/20/40 | 59,483 | ||||||||
50,000 | g | Petroleos Mexicanos | 4.880 | 03/15/15 | 51,750 | |||||||
20,000 | Petroleos Mexicanos | 8.000 | 05/03/19 | 23,800 | ||||||||
100,000 | g | Petroleos Mexicanos | 6.000 | 03/05/20 | 105,000 | |||||||
100,000 | g | Petroleum Co of Trinidad & Tobago Ltd | 9.750 | 08/14/19 | 114,000 | |||||||
100,000 | g | Petronas Capital Ltd | 5.250 | 08/12/19 | 105,141 | |||||||
100,000 | Plains All American Pipeline LP | 5.750 | 01/15/20 | 103,330 | ||||||||
50,000 | SEACOR Holdings, Inc | 7.380 | 10/01/19 | 52,803 | ||||||||
100,000 | XTO Energy, Inc | 6.250 | 04/15/13 | 112,876 | ||||||||
50,000 | XTO Energy, Inc | 4.630 | 06/15/13 | 53,907 | ||||||||
50,000 | XTO Energy, Inc | 5.500 | 06/15/18 | 57,176 | ||||||||
TOTAL OIL AND GAS EXTRACTION | 2,057,175 | |||||||||||
PAPER AND ALLIED PRODUCTS - 0.0% |
| |||||||||||
50,000 | International Paper Co | 7.300 | 11/15/39 | 55,137 | ||||||||
TOTAL PAPER AND ALLIED PRODUCTS | 55,137 | |||||||||||
PETROLEUM AND COAL PRODUCTS - 0.6% |
| |||||||||||
100,000 | BP Capital Markets plc | 3.130 | 03/10/12 | 92,452 | ||||||||
75,000 | BP Capital Markets plc | 3.880 | 03/10/15 | 63,911 | ||||||||
75,000 | Chevron Corp | 3.450 | 03/03/12 | 78,167 | ||||||||
125,000 | ConocoPhillips | 4.600 | 01/15/15 | 136,555 | ||||||||
100,000 | ConocoPhillips | 6.500 | 02/01/39 | 120,762 | ||||||||
25,000 | Hess Corp | 8.130 | 02/15/19 | 31,164 | ||||||||
25,000 | Marathon Oil Corp | 6.500 | 02/15/14 | 28,149 | ||||||||
26,000 | Marathon Oil Corp | 7.500 | 02/15/19 | 31,177 | ||||||||
75,000 | Shell International Finance BV | 4.380 | 03/25/20 | 77,530 |
115
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$25,000 | Shell International Finance BV | 6.380 | 12/15/38 | $ | 29,868 | |||||||
25,000 | Statoil ASA | 2.900 | 10/15/14 | 25,561 | ||||||||
50,000 | Valero Energy Corp | 4.500 | 02/01/15 | 51,378 | ||||||||
TOTAL PETROLEUM AND COAL PRODUCTS | 766,674 | |||||||||||
PIPELINES, EXCEPT NATURAL GAS - 0.1% |
| |||||||||||
25,000 | Enbridge Energy Partners LP | 5.200 | 03/15/20 | 25,760 | ||||||||
50,000 | g | Rockies Express Pipeline LLC | 6.250 | 07/15/13 | 53,208 | |||||||
100,000 | TransCanada Pipelines Ltd | 5.850 | 03/15/36 | 102,492 | ||||||||
TOTAL PIPELINES, EXCEPT NATURAL GAS | 181,460 | |||||||||||
PRIMARY METAL INDUSTRIES - 0.1% |
| |||||||||||
50,000 | ArcelorMittal | 5.380 | 06/01/13 | 52,585 | ||||||||
50,000 | ArcelorMittal | 7.000 | 10/15/39 | 52,813 | ||||||||
TOTAL PRIMARY METAL INDUSTRIES | 105,398 | |||||||||||
PRINTING AND PUBLISHING - 0.1% |
| |||||||||||
25,000 | News America, Inc | 7.250 | 05/18/18 | 30,073 | ||||||||
50,000 | News America, Inc | 6.200 | 12/15/34 | 52,661 | ||||||||
50,000 | News America, Inc | 6.900 | 08/15/39 | 57,381 | ||||||||
TOTAL PRINTING AND PUBLISHING | 140,115 | |||||||||||
RAILROAD TRANSPORTATION - 0.3% |
| |||||||||||
100,000 | Burlington Northern Santa Fe Corp | 4.700 | 10/01/19 | 105,910 | ||||||||
75,000 | Burlington Northern Santa Fe Corp | 5.750 | 05/01/40 | 79,327 | ||||||||
50,000 | Norfolk Southern Corp | 5.750 | 04/01/18 | 56,519 | ||||||||
100,000 | Norfolk Southern Corp | 5.590 | 05/17/25 | 107,133 | ||||||||
75,000 | Union Pacific Corp | 5.130 | 02/15/14 | 82,053 | ||||||||
TOTAL RAILROAD TRANSPORTATION | 430,942 | |||||||||||
SECURITY AND COMMODITY BROKERS - 1.6% |
| |||||||||||
50,000 | Ameriprise Financial, Inc | 5.300 | 03/15/20 | 52,237 | ||||||||
50,000 | BlackRock, Inc | 3.500 | 12/10/14 | 51,855 | ||||||||
50,000 | BlackRock, Inc | 5.000 | 12/10/19 | 53,144 | ||||||||
100,000 | Eaton Vance Corp | 6.500 | 10/02/17 | 113,721 | ||||||||
60,000 | Franklin Resources, Inc | 3.130 | % | 05/20/15 | 61,454 | |||||||
100,000 | i | Goldman Sachs Capital II | 5.790 | 12/30/49 | 75,500 | |||||||
100,000 | Goldman Sachs Group, Inc | 4.750 | 07/15/13 | 104,407 | ||||||||
150,000 | Goldman Sachs Group, Inc | 5.350 | 01/15/16 | 155,188 | ||||||||
50,000 | Goldman Sachs Group, Inc | 7.500 | 02/15/19 | 55,889 | ||||||||
150,000 | Goldman Sachs Group, Inc | 5.380 | 03/15/20 | 148,217 | ||||||||
25,000 | Goldman Sachs Group, Inc | 6.750 | 10/01/37 | 24,509 | ||||||||
100,000 | b,n | Lehman Brothers Holdings Capital Trust V | 5.860 | 12/30/49 | 10 | |||||||
50,000 | Merrill Lynch & Co, Inc | 6.050 | 08/15/12 | 53,162 | ||||||||
300,000 | Merrill Lynch & Co, Inc | 5.450 | 02/05/13 | 314,710 | ||||||||
50,000 | Merrill Lynch & Co, Inc | 6.400 | 08/28/17 | 52,137 | ||||||||
150,000 | Merrill Lynch & Co, Inc | 6.880 | 04/25/18 | 160,017 | ||||||||
175,000 | Morgan Stanley | 6.000 | 05/13/14 | 185,428 | ||||||||
50,000 | Morgan Stanley | 6.000 | 04/28/15 | 52,254 | ||||||||
100,000 | Morgan Stanley | 5.750 | 10/18/16 | 100,742 | ||||||||
65,000 | Morgan Stanley | 6.630 | 04/01/18 | 68,129 | ||||||||
150,000 | Morgan Stanley | 7.300 | 05/13/19 | 161,313 | ||||||||
50,000 | NASDAQ OMX Group, Inc | 4.000 | 01/15/15 | 50,838 | ||||||||
35,000 | NASDAQ OMX Group, Inc | 5.550 | 01/15/20 | 35,718 | ||||||||
25,000 | Nomura Holdings, Inc | 5.000 | 03/04/15 | 26,417 | ||||||||
TOTAL SECURITY AND COMMODITY BROKERS | 2,156,996 | |||||||||||
116
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
STONE, CLAY, AND GLASS PRODUCTS - 0.1% |
| |||||||||||
$125,000 | 3M Co | 5.700 | 03/15/37 | $ | 142,910 | |||||||
TOTAL STONE, CLAY, AND GLASS PRODUCTS | 142,910 | |||||||||||
TOBACCO PRODUCTS - 0.1% |
| |||||||||||
100,000 | Philip Morris International, Inc | 6.880 | 03/17/14 | 115,696 | ||||||||
TOTAL TOBACCO PRODUCTS | 115,696 | |||||||||||
TRANSPORTATION EQUIPMENT - 0.2% |
| |||||||||||
100,000 | Boeing Co | 6.130 | 02/15/33 | 113,218 | ||||||||
25,000 | Embraer Overseas Ltd | 6.380 | 01/15/20 | 25,655 | ||||||||
55,000 | Goodrich Corp | 6.130 | 03/01/19 | 63,605 | ||||||||
25,000 | g | Meccanica Holdings USA | 6.250 | 01/15/40 | 23,216 | |||||||
50,000 | United Technologies Corp | 4.500 | 04/15/20 | 54,095 | ||||||||
TOTAL TRANSPORTATION EQUIPMENT | 279,789 | |||||||||||
WHOLESALE TRADE-DURABLE GOODS - 0.1% |
| |||||||||||
25,000 | Martin Marietta Materials, Inc | 6.600 | 04/15/18 | 27,131 | ||||||||
25,000 | Vale Overseas Ltd | 6.250 | 01/23/17 | 27,230 | ||||||||
25,000 | Vale Overseas Ltd | 6.880 | 11/21/36 | 26,063 | ||||||||
80,000 | Vale Overseas Ltd | 6.880 | 11/10/39 | 83,576 | ||||||||
TOTAL WHOLESALE TRADE-DURABLE GOODS | 164,000 | |||||||||||
WHOLESALE TRADE-NONDURABLE GOODS - 0.1% |
| |||||||||||
25,000 | Anheuser-Busch InBev Worldwide, Inc | 5.380 | 01/15/20 | 26,940 | ||||||||
75,000 | g | Anheuser-Busch InBev Worldwide, Inc | 5.000 | 04/15/20 | 78,414 | |||||||
25,000 | Anheuser-Busch InBev Worldwide, Inc | 6.380 | 01/15/40 | 28,577 | ||||||||
50,000 | McKesson Corp | 6.500 | 02/15/14 | 57,130 | ||||||||
TOTAL WHOLESALE TRADE-NONDURABLE GOODS | 191,061 | |||||||||||
TOTAL CORPORATE BONDS (Cost $35,124,461) | 36,858,689 | |||||||||||
GOVERNMENT BONDS - 62.3% |
| |||||||||||
AGENCY SECURITIES - 6.5% |
| |||||||||||
600,000 | Federal Farm Credit Bank (FFCB) | 2.630 | 04/21/11 | 610,607 | ||||||||
500,000 | FFCB | 1.380 | 06/25/13 | 502,802 | ||||||||
1,000,000 | Federal Home Loan Bank (FHLB) | 1.880 | 06/21/13 | 1,019,708 | ||||||||
Federal Home Loan Mortgage Corp (FHLMC) | ||||||||||||
2,000,000 | FHLMC | 2.130 | 09/21/12 | 2,056,387 | ||||||||
300,000 | FHLMC | 2.500 | 04/23/14 | 310,610 | ||||||||
1,500,000 | FHLMC | 5.130 | 10/18/16 | 1,717,175 | ||||||||
56,642 | Federal Home Loan Mortgage Corp Gold (FGLMC) | 5.000 | % | 04/01/23 | 60,466 | |||||||
100,000 | Federal National Mortgage Association (FNMA) | 3.250 | 08/12/10 | 100,345 | ||||||||
100,000 | FNMA | 1.750 | 05/07/13 | 101,827 | ||||||||
1,000,000 | FNMA | 3.000 | 09/16/14 | 1,049,401 | ||||||||
150,000 | FNMA | 4.000 | 02/25/19 | 157,348 | ||||||||
216,867 | FNMA | 6.000 | 06/01/36 | 237,778 | ||||||||
500,000 | g,j | FDIC Structured Sale Guarantee | 0.000 | 10/25/12 | 482,185 | |||||||
250,000 | Private Export Funding Corp | 3.050 | 10/15/14 | 261,387 | ||||||||
TOTAL AGENCY SECURITIES | 8,668,026 | |||||||||||
FOREIGN GOVERNMENT BONDS - 6.0% |
| |||||||||||
100,000 | g | Bahrain Government International Bond | 5.500 | 03/31/20 | 100,567 | |||||||
100,000 | g | Banco Nacional de Desenvolvimento Economico e Social | 5.500 | 07/12/20 | 100,250 |
117
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$455,000 | g | Belgium Government International Bond | 2.880 | 09/15/14 | $ | 459,409 | ||||||
150,000 | Belgium Kingdom | 2.750 | 03/05/15 | 149,545 | ||||||||
200,000 | Brazilian Government International Bond | 5.880 | 01/15/19 | 219,500 | ||||||||
200,000 | Brazilian Government International Bond | 4.880 | 01/22/21 | 200,300 | ||||||||
25,000 | Brazilian Government International Bond | 7.130 | 01/20/37 | 29,500 | ||||||||
150,000 | Canada Government International Bond | 2.380 | 09/10/14 | 153,955 | ||||||||
100,000 | China Development Bank | 5.000 | 10/15/15 | 108,694 | ||||||||
100,000 | Eksportfinans A/S | 5.000 | 02/14/12 | 106,071 | ||||||||
100,000 | European Investment Bank | 4.880 | 02/15/36 | 105,443 | ||||||||
250,000 | Export Development Canada | 2.250 | 05/28/15 | 252,840 | ||||||||
100,000 | Export-Import Bank of Korea | 5.880 | 01/14/15 | 108,352 | ||||||||
100,000 | Export-Import Bank of Korea | 5.130 | 06/29/20 | 100,402 | ||||||||
175,000 | Federative Republic of Brazil | 6.000 | 01/17/17 | 192,500 | ||||||||
100,000 | g | Korea Expressway Corp | 4.500 | 03/23/15 | 102,361 | |||||||
25,000 | Peruvian Government International Bond | 7.130 | 03/30/19 | 29,563 | ||||||||
25,000 | Peruvian Government International Bond | 7.350 | 07/21/25 | 29,938 | ||||||||
82,000 | Poland Government International Bond | 6.380 | 07/15/19 | 90,710 | ||||||||
175,000 | Province of British Columbia Canada | 2.850 | 06/15/15 | 180,754 | ||||||||
500,000 | Province of Manitoba Canada | 2.130 | 04/22/13 | 511,190 | ||||||||
190,000 | Province of Ontario Canada | 3.130 | 09/08/10 | 190,916 | ||||||||
1,000,000 | Province of Ontario Canada | 2.630 | 01/20/12 | 1,023,652 | ||||||||
300,000 | Province of Ontario Canada | 4.100 | 06/16/14 | 322,620 | ||||||||
300,000 | Province of Ontario Canada | 2.950 | 02/05/15 | 307,573 | ||||||||
400,000 | Province of Ontario Canada | 2.700 | 06/16/15 | 403,417 | ||||||||
1,000,000 | Province of Ontario Canada | 4.000 | 10/07/19 | 1,032,550 | ||||||||
500,000 | Province of Ontario Canada | 4.400 | 04/14/20 | 531,285 | ||||||||
110,000 | Province of Quebec Canada | 4.630 | 05/14/18 | 120,153 | ||||||||
100,000 | Republic of Hungary | 6.250 | 01/29/20 | 98,423 | ||||||||
100,000 | Republic of Korea | 5.750 | 04/16/14 | 109,019 | ||||||||
100,000 | g | Russian Foreign Bond-Eurobond | 3.630 | 04/29/15 | 96,750 | |||||||
100,000 | g | Russian Foreign Bond-Eurobond | 5.000 | 04/29/20 | 96,500 | |||||||
100,000 | South Africa Government International Bond | 6.880 | 05/27/19 | 114,375 | ||||||||
150,000 | South Africa Government International Bond | 5.500 | 03/09/20 | 155,063 | ||||||||
52,000 | United Mexican States | 5.880 | 02/17/14 | 57,044 | ||||||||
50,000 | United Mexican States | 5.950 | 03/19/19 | 55,500 | ||||||||
100,000 | United Mexican States | 5.130 | 01/15/20 | 104,000 | ||||||||
TOTAL FOREIGN GOVERNMENT BONDS | 8,150,684 | |||||||||||
MORTGAGE BACKED - 29.6% |
| |||||||||||
75,967 | i | Federal Home Loan Mortgage Corp (FHLMC) | 2.640 | 02/01/36 | 78,710 | |||||||
282,602 | i | FHLMC | 5.780 | 07/01/36 | 300,415 | |||||||
50,217 | i | FHLMC | 3.280 | 09/01/36 | 52,066 | |||||||
41,891 | i | FHLMC | 5.890 | 09/01/36 | 44,537 | |||||||
146,071 | i | FHLMC | 6.050 | 09/01/36 | 154,767 | |||||||
130,810 | i | FHLMC | 5.540 | 03/01/37 | 138,637 | |||||||
246,793 | i | FHLMC | 5.880 | 04/01/37 | 265,359 | |||||||
78,146 | i | FHLMC | 5.720 | 05/01/37 | 84,077 | |||||||
245,121 | Federal Home Loan Mortgage Corp Gold (FGLMC) | 5.000 | 02/01/19 | 263,410 | ||||||||
54,474 | FGLMC | 4.500 | % | 01/01/20 | 58,054 | |||||||
183,771 | FGLMC | 4.500 | 07/01/20 | 195,621 | ||||||||
162,525 | FGLMC | 4.000 | 07/01/24 | 168,998 | ||||||||
64,814 | FGLMC | 4.500 | 09/01/24 | 68,426 | ||||||||
25,334 | FGLMC | 6.000 | 03/01/33 | 27,861 | ||||||||
224,707 | FGLMC | 5.000 | 11/01/33 | 238,865 | ||||||||
395,444 | FGLMC | 6.000 | 11/01/33 | 434,890 | ||||||||
110,923 | FGLMC | 5.000 | 05/01/34 | 117,739 | ||||||||
71,968 | FGLMC | 6.000 | 09/01/34 | 78,989 | ||||||||
16,559 | FGLMC | 6.000 | 04/01/35 | 18,065 | ||||||||
48,962 | FGLMC | 5.000 | 02/01/36 | 51,925 | ||||||||
34,743 | FGLMC | 6.500 | 05/01/36 | 38,192 | ||||||||
352,999 | FGLMC | 5.500 | 04/01/37 | 379,256 | ||||||||
437,925 | FGLMC | 5.500 | 05/01/37 | 470,499 |
118
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$243,194 | FGLMC | 6.000 | 08/01/37 | $ | 264,413 | |||||||
29,594 | FGLMC | 6.000 | 08/01/37 | 32,195 | ||||||||
91,929 | FGLMC | 6.500 | 09/01/37 | 100,941 | ||||||||
83,385 | FGLMC | 6.500 | 11/01/37 | 91,559 | ||||||||
232,835 | FGLMC | 5.000 | 04/01/38 | 246,656 | ||||||||
76,955 | FGLMC | 6.500 | 05/01/38 | 84,458 | ||||||||
100,657 | FGLMC | 5.500 | 01/01/39 | 108,144 | ||||||||
194,715 | FGLMC | 4.000 | 06/01/39 | 197,342 | ||||||||
127,105 | FGLMC | 5.000 | 07/01/39 | 134,637 | ||||||||
146,162 | FGLMC | 5.000 | 01/01/40 | 154,823 | ||||||||
10,780 | Federal National Mortgage Association (FNMA) | 5.000 | 06/01/13 | 11,095 | ||||||||
1,541,120 | FNMA | 4.570 | 01/01/15 | 1,648,718 | ||||||||
81,566 | FNMA | 5.500 | 04/01/18 | 88,607 | ||||||||
70,540 | FNMA | 5.500 | 05/01/18 | 76,608 | ||||||||
76,689 | FNMA | 4.500 | 03/01/19 | 81,801 | ||||||||
43,528 | FNMA | 4.500 | 06/01/19 | 46,430 | ||||||||
225,197 | FNMA | 5.500 | 07/01/20 | 244,638 | ||||||||
20,716 | FNMA | 4.500 | 11/01/20 | 22,097 | ||||||||
153,553 | FNMA | 4.500 | 12/01/20 | 163,575 | ||||||||
62,390 | FNMA | 5.000 | 12/01/20 | 67,006 | ||||||||
91,644 | FNMA | 4.500 | 03/01/23 | 96,952 | ||||||||
208,351 | FNMA | 5.000 | 04/01/23 | 222,626 | ||||||||
197,786 | FNMA | 4.500 | 06/01/23 | 209,242 | ||||||||
152,437 | FNMA | 5.000 | 07/01/23 | 162,857 | ||||||||
167,288 | FNMA | 5.000 | 07/01/23 | 178,723 | ||||||||
151,806 | FNMA | 5.500 | 02/01/24 | 164,358 | ||||||||
460,566 | FNMA | 4.500 | 04/01/24 | 486,811 | ||||||||
181,065 | FNMA | 4.000 | 05/01/24 | 188,587 | ||||||||
339,223 | FNMA | 5.500 | 07/01/24 | 366,758 | ||||||||
12,382 | FNMA | 5.500 | 09/01/24 | 13,387 | ||||||||
585,371 | FNMA | 4.000 | 02/01/25 | 609,141 | ||||||||
64,035 | FNMA | 6.500 | 07/01/32 | 71,494 | ||||||||
91,409 | FNMA | 5.500 | 01/01/33 | 98,642 | ||||||||
147,424 | FNMA | 5.500 | 07/01/33 | 158,996 | ||||||||
715,689 | FNMA | 5.500 | 07/01/33 | 771,870 | ||||||||
369,408 | FNMA | 5.500 | 07/01/33 | 398,407 | ||||||||
383,685 | FNMA | 6.000 | 10/01/33 | 422,617 | ||||||||
218,561 | FNMA | 5.000 | 11/01/33 | 232,435 | ||||||||
826,048 | FNMA | 5.500 | 11/01/33 | 890,893 | ||||||||
471,107 | FNMA | 5.000 | 03/01/34 | 501,013 | ||||||||
840,958 | FNMA | 5.000 | 03/01/34 | 894,342 | ||||||||
106,064 | FNMA | 5.500 | 04/01/34 | 114,225 | ||||||||
70,784 | FNMA | 5.000 | 08/01/34 | 75,324 | ||||||||
1,809,534 | FNMA | 5.000 | 09/01/34 | 1,922,987 | ||||||||
100,738 | FNMA | 5.000 | 11/01/34 | 107,133 | ||||||||
61,718 | FNMA | 6.500 | 02/01/35 | 68,501 | ||||||||
203,350 | FNMA | 5.500 | 04/01/35 | 218,996 | ||||||||
19,413 | FNMA | 7.500 | 06/01/35 | 21,905 | ||||||||
58,706 | FNMA | 5.500 | 07/01/35 | 63,167 | ||||||||
33,361 | FNMA | 7.500 | % | 07/01/35 | 37,643 | |||||||
85,071 | FNMA | 4.500 | 08/01/35 | 88,955 | ||||||||
115,175 | FNMA | 5.000 | 08/01/35 | 122,252 | ||||||||
283,080 | FNMA | 5.500 | 09/01/35 | 305,302 | ||||||||
106,344 | FNMA | 5.500 | 10/01/35 | 114,426 | ||||||||
125,873 | FNMA | 5.000 | 02/01/36 | 133,607 | ||||||||
453,489 | FNMA | 6.000 | 04/01/36 | 493,552 | ||||||||
143,721 | i | FNMA | 5.830 | 07/01/36 | 153,033 | |||||||
64,620 | FNMA | 6.500 | 09/01/36 | 70,975 | ||||||||
96,028 | FNMA | 6.000 | 12/01/36 | 104,511 | ||||||||
84,014 | FNMA | 5.000 | 02/01/37 | 89,028 | ||||||||
329,962 | FNMA | 5.500 | 02/01/37 | 354,729 | ||||||||
58,607 | FNMA | 7.000 | 02/01/37 | 65,182 |
119
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$212,959 | FNMA | 5.500 | 03/01/37 | $ | 228,899 | |||||||
127,202 | FNMA | 7.000 | 04/01/37 | 141,472 | ||||||||
91,544 | FNMA | 5.500 | 06/01/37 | 98,396 | ||||||||
31,432 | FNMA | 6.500 | 08/01/37 | 34,475 | ||||||||
89,812 | FNMA | 6.000 | 11/01/37 | 97,578 | ||||||||
38,673 | FNMA | 7.000 | 11/01/37 | 43,011 | ||||||||
134,528 | FNMA | 5.500 | 01/01/38 | 144,598 | ||||||||
15,728 | FNMA | 6.500 | 01/01/38 | 17,251 | ||||||||
1,158,423 | FNMA | 5.500 | 02/01/38 | 1,245,131 | ||||||||
343,351 | FNMA | 5.500 | 02/01/38 | 369,051 | ||||||||
5,674 | FNMA | 6.500 | 02/01/38 | 6,223 | ||||||||
9,400 | FNMA | 6.500 | 03/01/38 | 10,308 | ||||||||
23,323 | FNMA | 6.500 | 03/01/38 | 25,576 | ||||||||
369,907 | FNMA | 5.000 | 04/01/38 | 391,981 | ||||||||
188,182 | FNMA | 6.000 | 04/01/38 | 204,336 | ||||||||
378,380 | FNMA | 4.000 | 01/01/39 | 383,721 | ||||||||
156,116 | FNMA | 4.500 | 01/01/39 | 162,146 | ||||||||
108,939 | FNMA | 5.500 | 01/01/39 | 117,093 | ||||||||
104,798 | FNMA | 6.000 | 01/01/39 | 113,794 | ||||||||
87,720 | FNMA | 6.000 | 01/01/39 | 95,250 | ||||||||
143,870 | FNMA | 4.000 | 02/01/39 | 145,924 | ||||||||
919,869 | FNMA | 4.500 | 02/01/39 | 955,399 | ||||||||
145,048 | FNMA | 4.500 | 02/01/39 | 150,651 | ||||||||
88,811 | FNMA | 5.500 | 02/01/39 | 95,459 | ||||||||
1,850,113 | FNMA | 4.500 | 04/01/39 | 1,920,996 | ||||||||
134,867 | FNMA | 5.000 | 04/01/39 | 142,902 | ||||||||
482,018 | FNMA | 4.500 | 06/01/39 | 500,485 | ||||||||
754,123 | FNMA | 4.000 | 07/01/39 | 764,767 | ||||||||
532,738 | FNMA | 6.500 | 07/01/39 | 584,130 | ||||||||
551,290 | FNMA | 4.500 | 08/01/39 | 572,412 | ||||||||
822,887 | FNMA | 6.000 | 09/01/39 | 893,527 | ||||||||
342,850 | FNMA | 4.500 | 10/01/39 | 355,985 | ||||||||
390,268 | FNMA | 4.500 | 11/01/39 | 405,220 | ||||||||
344,937 | FNMA | 4.500 | 11/01/39 | 358,152 | ||||||||
237,722 | FNMA | 5.000 | 11/01/39 | 251,883 | ||||||||
37,227 | Government National Mortgage Association (GNMA) | 5.500 | 07/15/33 | 40,523 | ||||||||
253,619 | GNMA | 5.500 | 07/20/33 | 276,316 | ||||||||
39,841 | GNMA | 5.000 | 03/15/34 | 42,774 | ||||||||
199,236 | GNMA | 5.000 | 06/15/34 | 213,905 | ||||||||
362,072 | GNMA | 5.500 | 02/15/37 | 392,090 | ||||||||
299,764 | GNMA | 5.000 | 01/15/38 | 320,148 | ||||||||
121,200 | GNMA | 5.000 | 04/15/38 | 129,442 | ||||||||
307,627 | GNMA | 5.500 | 05/15/38 | 332,939 | ||||||||
43,231 | GNMA | 6.000 | 08/15/38 | 47,194 | ||||||||
46,733 | GNMA | 6.000 | 08/20/38 | 51,036 | ||||||||
559,651 | GNMA | 5.500 | 07/15/39 | 605,700 | ||||||||
167,901 | GNMA | 4.500 | 07/20/39 | 174,887 | ||||||||
64,333 | GNMA | 5.000 | 07/20/39 | 68,564 | ||||||||
72,112 | GNMA | 4.000 | 08/15/39 | 73,442 | ||||||||
696,777 | GNMA | 4.500 | 03/15/40 | 727,413 | ||||||||
249,330 | GNMA | 4.500 | % | 04/15/40 | 260,293 | |||||||
242,617 | GNMA | 5.000 | 04/15/40 | 259,115 | ||||||||
498,562 | GNMA | 5.000 | 04/15/40 | 532,464 | ||||||||
599,076 | GNMA | 5.000 | 05/20/40 | 638,412 | ||||||||
197,216 | GNMA | 6.230 | 09/15/43 | 212,081 | ||||||||
487,124 | Fannie Mae Pool | 4.000 | 08/01/39 | 494,000 | ||||||||
499,112 | Fannie Mae Pool | 5.000 | 06/01/40 | 528,845 | ||||||||
500,000 | Fannie Mae Pool | 5.500 | 07/01/40 | 537,375 | ||||||||
500,000 | Ginnie Mae I pool | 4.500 | 06/15/40 | 521,984 | ||||||||
500,000 | Ginnie Mae I pool | 5.000 | 06/15/40 | 534,000 | ||||||||
TOTAL MORTGAGE BACKED | 39,503,809 | |||||||||||
120
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
MUNICIPAL BONDS - 0.7% |
| |||||||||||
$150,000 | Grant County Public Utility District No 2 | 5.630 | 01/01/27 | $ | 158,298 | |||||||
500,000 | Long Island Power Authority | 5.850 | 05/01/41 | 500,874 | ||||||||
150,000 | State of California | 7.630 | 03/01/40 | 162,071 | ||||||||
175,000 | State of Illinois | 6.730 | 04/01/35 | 166,322 | ||||||||
TOTAL MUNICIPAL BONDS | 987,565 | |||||||||||
U.S. TREASURY SECURITIES - 19.5% |
| |||||||||||
443,000 | United States Treasury Bond | 8.000 | 11/15/21 | 644,288 | ||||||||
842,500 | United States Treasury Bond | 5.250 | 02/15/29 | 1,013,897 | ||||||||
2,082,000 | United States Treasury Bond | 4.380 | 11/15/39 | 2,247,583 | ||||||||
115,000 | United States Treasury Bond | 4.630 | 02/15/40 | 129,267 | ||||||||
1,415,000 | United States Treasury Note | 1.000 | 09/30/11 | 1,424,728 | ||||||||
200,000 | United States Treasury Note | 1.000 | 12/31/11 | 201,461 | ||||||||
450,000 | United States Treasury Note | 1.880 | 06/15/12 | 461,110 | ||||||||
48,000 | United States Treasury Note | 1.380 | 10/15/12 | 48,713 | ||||||||
697,000 | United States Treasury Note | 1.130 | 06/15/13 | 699,774 | ||||||||
635,000 | United States Treasury Note | 2.000 | 11/30/13 | 651,867 | ||||||||
4,377,000 | United States Treasury Note | 1.880 | 04/30/14 | 4,455,991 | ||||||||
1,613,000 | United States Treasury Note | 2.250 | 05/31/14 | 1,664,288 | ||||||||
799,000 | United States Treasury Note | 2.380 | 08/31/14 | 826,029 | ||||||||
1,580,000 | United States Treasury Note | 2.380 | 10/31/14 | 1,630,116 | ||||||||
1,600,000 | United States Treasury Note | 2.250 | 01/31/15 | 1,639,875 | ||||||||
579,000 | United States Treasury Note | 2.500 | 04/30/15 | 599,582 | ||||||||
2,061,000 | United States Treasury Note | 2.130 | 05/31/15 | 2,096,428 | ||||||||
1,180,000 | United States Treasury Note | 1.880 | 06/30/15 | 1,184,517 | ||||||||
860,000 | United States Treasury Note | 2.630 | 02/29/16 | 884,792 | ||||||||
1,100,000 | United States Treasury Note | 2.380 | 03/31/16 | 1,116,243 | ||||||||
1,100,000 | United States Treasury Note | 3.250 | 07/31/16 | 1,166,086 | ||||||||
50,000 | United States Treasury Note | 3.000 | 02/28/17 | 51,906 | ||||||||
913,800 | United States Treasury Note | 3.500 | 05/15/20 | 956,347 | ||||||||
500,000 | j | United States Treasury Strip Principal | 0.000 | 08/15/27 | 255,450 | |||||||
TOTAL U.S. TREASURY SECURITIES | 26,050,338 | |||||||||||
TOTAL GOVERNMENT BONDS (Cost $79,885,640) | 83,360,422 | |||||||||||
STRUCTURED ASSETS - 6.8% |
| |||||||||||
ASSET BACKED - 2.4% |
| |||||||||||
61,650 | AmeriCredit Automobile Receivables Trust | 5.640 | 09/06/13 | 62,872 | ||||||||
Series - 2006 AF (Class A4) | ||||||||||||
100,000 | g | Avis Budget Rental Car Funding AESOP LLC | 5.680 | 02/20/14 | 106,613 | |||||||
Series - 2009 2A (Class A) | ||||||||||||
455,481 | Centex Home Equity | 5.540 | 01/25/32 | 436,526 | ||||||||
Series - 2002 A (Class AF6) | ||||||||||||
337,182 | i | Chase Funding Mortgage Loan Asset-Backed Certificates | 5.700 | 02/25/35 | 127,534 | |||||||
Series - 2004 2 (Class 1B) | ||||||||||||
341,152 | CIT Group Home Equity Loan Trust | 6.390 | 12/25/30 | 66,897 | ||||||||
Series - 2002 2 (Class MF2) | ||||||||||||
75,000 | i | Countrywide Asset-Backed Certificates | 5.680 | 10/25/46 | 71,224 | |||||||
Series - 2006 15 (Class A2) | ||||||||||||
1,000,000 | g | Flagstar Home Equity Loan Trust | 5.780 | 01/25/35 | 800,293 | |||||||
Series - 2007 1A (Class AF3) | ||||||||||||
142,221 | GMAC Commercial Mortgage Securities, Inc | 5.590 | % | 10/25/29 | 135,904 | |||||||
Series - 2006 HLTV (Class A3) | ||||||||||||
250,000 | GMAC Commercial Mortgage Securities, Inc | 5.810 | 10/25/29 | 175,706 | ||||||||
Series - 2006 HLTV (Class A4) | ||||||||||||
250,000 | g | Hertz Vehicle Financing LLC | 5.290 | 03/25/16 | 270,518 | |||||||
Series - 2009 2A (Class A2) | ||||||||||||
162,416 | HFC Home Equity Loan Asset Backed Certificates | 5.910 | 03/20/36 | 162,886 | ||||||||
Series - 2007 1 (Class A1F) |
121
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$50,000 | Merrill Auto Trust Securitization | 6.150 | 04/15/15 | $ | 52,966 | |||||||
Series - 2008 1 (Class A4A) | ||||||||||||
32,281 | i | Morgan Stanley ABS Capital I | 0.270 | 01/25/37 | 31,381 | |||||||
Series - 2007 HE2 (Class A2A) | ||||||||||||
310,000 | Renaissance Home Equity Loan Trust | 5.590 | 11/25/36 | 168,921 | ||||||||
Series - 2006 3 (Class AF3) | ||||||||||||
217,644 | Residential Funding Mortgage Securities II, Inc | 5.520 | 04/25/21 | 211,297 | ||||||||
Series - 2006 HI5 (Class A2) | ||||||||||||
100,000 | Residential Funding Mortgage Securities II, Inc | 6.060 | 02/25/36 | 32,083 | ||||||||
Series - 2006 HI1 (Class M2) | ||||||||||||
53,266 | i | Securitized Asset Backed Receivables LLC Trust | 0.500 | 03/25/36 | 49,752 | |||||||
Series - 2006 NC2 (Class A2) | ||||||||||||
142,233 | i | Sequoia Mortgage Trust | 3.750 | 02/25/40 | 142,134 | |||||||
Series - 2010 H1 (Class A1) | ||||||||||||
159,518 | g,m | Wachovia Amortization Controlled Heloc NIM | 5.680 | 08/12/47 | 129,209 | |||||||
Series - 2006 N1 (Class N1) | ||||||||||||
43,507 | i | Wells Fargo Home Equity Trust | 0.490 | 07/25/36 | 39,537 | |||||||
Series - 2006 2 (Class A3) | ||||||||||||
TOTAL ASSET BACKED | 3,274,253 | |||||||||||
OTHER MORTGAGE BACKED - 4.4% |
| |||||||||||
70,000 | Banc of America Commercial Mortgage, Inc | 5.360 | 10/10/45 | 70,078 | ||||||||
Series - 2006 6 (Class A4) | ||||||||||||
125,000 | i | Banc of America Commercial Mortgage, Inc | 5.870 | 04/10/49 | 124,833 | |||||||
Series - 2007 2 (Class A4) | ||||||||||||
285,249 | Bank of America Alternative Loan Trust | 6.000 | 08/25/34 | 287,081 | ||||||||
Series - 2004 7 (Class 2A1) | ||||||||||||
25,000 | Bear Stearns Commercial Mortgage Securities | 5.200 | 12/11/38 | 25,570 | ||||||||
Series - 2006 PW14 (Class A4) | ||||||||||||
45,000 | i | Bear Stearns Commercial Mortgage Securities | 5.620 | 03/11/39 | 47,812 | |||||||
Series - 2006 PW11 (Class A4) | ||||||||||||
40,000 | Bear Stearns Commercial Mortgage Securities | 4.670 | 06/11/41 | 41,411 | ||||||||
Series - 2005 PWR8 (Class A4) | ||||||||||||
120,000 | i | Bear Stearns Commercial Mortgage Securities | 5.470 | 06/11/41 | 128,351 | |||||||
Series - 2004 PWR4 (Class A3) | ||||||||||||
80,000 | i | Bear Stearns Commercial Mortgage Securities | 5.580 | 09/11/41 | 68,885 | |||||||
Series - 2006 PW13 (Class AM) | ||||||||||||
75,000 | Bear Stearns Commercial Mortgage Securities | 5.540 | 10/12/41 | 78,707 | ||||||||
Series - 2006 T24 (Class A4) | ||||||||||||
110,000 | i | Bear Stearns Commercial Mortgage Securities | 4.750 | 02/13/46 | 112,844 | |||||||
Series - 2004 T16 (Class A6) | ||||||||||||
105,000 | i | Bear Stearns Commercial Mortgage Securities | 5.690 | 06/11/50 | 106,288 | |||||||
Series - 2007 PW17 (Class A4) | ||||||||||||
100,000 | Bear Stearns Commercial Mortgage Securities | 5.700 | 06/11/50 | 101,138 | ||||||||
Series - 2007 PW18 (Class A4) | ||||||||||||
50,000 | Citigroup, Inc | 5.320 | 12/11/49 | 48,563 | ||||||||
Series - 2007 CD4 (Class A4) | ||||||||||||
85,000 | i | Commercial Mortgage Pass Through Certificates | 6.010 | 12/10/49 | 87,855 | |||||||
Series - 2007 C9 (Class A4) | ||||||||||||
81,917 | Countrywide Alternative Loan Trust | 5.500 | 08/25/16 | 70,814 | ||||||||
Series - 2004 30CB (Class 1A15) | ||||||||||||
99,190 | Countrywide Home Loan Mortgage Pass Through Trust | 5.250 | 09/25/35 | 98,776 | ||||||||
Series - 2005 17 (Class 1A10) | ||||||||||||
44,310 | Countrywide Home Loan Mortgage Pass Through Trust | 5.500 | 09/25/35 | 42,856 | ||||||||
Series - 2005 J3 (Class 1A1) | ||||||||||||
50,000 | CS First Boston Mortgage Securities Corp | 4.050 | 05/15/38 | 49,919 | ||||||||
Series - 2003 C3 (Class B) | ||||||||||||
55,000 | i | CS First Boston Mortgage Securities Corp | 5.100 | % | 08/15/38 | 57,969 | ||||||
Series - 2005 C5 (Class A4) | ||||||||||||
35,000 | i | CS First Boston Mortgage Securities Corp | 5.100 | 08/15/38 | 29,466 | |||||||
Series - 2005 C5 (Class AJ) | ||||||||||||
62,720 | First Horizon Asset Securities, Inc | 5.500 | 11/25/33 | 62,984 | ||||||||
Series - 2003 9 (Class 1A4) |
122
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | ||||||||
$40,000 | GMAC Commercial Mortgage Securities, Inc | 5.020 | 04/10/40 | $ | 42,475 | |||||||
Series - 2003 C3 (Class A4) | ||||||||||||
92,164 | i | GMAC Mortgage Corp Loan Trust | 4.580 | 10/19/33 | 93,484 | |||||||
Series - 2003 AR1 (Class A5) | ||||||||||||
495,000 | i | Greenwich Capital Commercial Funding Corp | 5.890 | 07/10/38 | 426,007 | |||||||
Series - 2006 GG7 (Class AM) | ||||||||||||
100,000 | i | Greenwich Capital Commercial Funding Corp | 6.090 | 07/10/38 | 104,528 | |||||||
Series - 2006 GG7 (Class A4) | ||||||||||||
400,000 | Greenwich Capital Commercial Funding Corp | 5.440 | 03/10/39 | 400,731 | ||||||||
Series - 2007 GG9 (Class A4) | ||||||||||||
85,000 | Greenwich Capital Commercial Funding Corp | 5.480 | 03/10/39 | 67,494 | ||||||||
Series - 2007 GG9 (Class AM) | ||||||||||||
250,000 | Greenwich Capital Commercial Funding Corp | 5.740 | 12/10/49 | 245,896 | ||||||||
Series - 2007 GG11 (Class A4) | ||||||||||||
70,000 | i | GS Mortgage Securities Corp II | 5.550 | 04/10/38 | 72,024 | |||||||
Series - 2006 GG6 (Class A4) | ||||||||||||
100,000 | i | GS Mortgage Securities Corp II | 5.620 | 04/10/38 | 85,013 | |||||||
Series - 2006 GG6 (Class AM) | ||||||||||||
125,000 | GS Mortgage Securities Corp II | 5.560 | 11/10/39 | 126,836 | ||||||||
Series - 2006 GG8 (Class A4) | ||||||||||||
44,586 | i | GSR Mortgage Loan Trust | 5.030 | 01/25/36 | 43,482 | |||||||
Series - 2006 AR1 (Class 2A2) | ||||||||||||
50,000 | g | JP Morgan Chase Commercial Mortgage Securities Corp | 5.630 | 12/05/27 | 54,703 | |||||||
Series - 2009 IWST (Class A2) | ||||||||||||
165,000 | JP Morgan Chase Commercial Mortgage Securities Corp | 5.340 | 05/15/47 | 163,077 | ||||||||
Series - 2006 LDP9 (Class A3) | ||||||||||||
65,000 | i | JP Morgan Chase Commercial Mortgage Securities Corp | 5.940 | 02/12/49 | 52,427 | |||||||
Series - 2007 CB19 (Class AM) | ||||||||||||
200,000 | i | JP Morgan Chase Commercial Mortgage Securities Corp | 5.820 | 06/15/49 | 195,674 | |||||||
Series - 2007 LD11 (Class A4) | ||||||||||||
$50,000 | i | LB-UBS Commercial Mortgage Trust | 5.150 | 04/15/30 | 52,729 | |||||||
Series - 2005 C2 (Class A5) | ||||||||||||
220,000 | LB-UBS Commercial Mortgage Trust | 5.420 | 02/15/40 | 219,025 | ||||||||
Series - 2007 C1 (Class A4) | ||||||||||||
115,000 | LB-UBS Commercial Mortgage Trust | 5.430 | 02/15/40 | 115,348 | ||||||||
Series - 2007 C2 (Class A3) | ||||||||||||
75,000 | i | LB-UBS Commercial Mortgage Trust | 5.860 | 07/15/40 | 74,403 | |||||||
Series - 2007 C6 (Class A4) | ||||||||||||
190,000 | i | Merrill Lynch & Co, Inc | 5.170 | 12/12/49 | 187,596 | |||||||
Series - 2006 4 (Class A3) | ||||||||||||
200,000 | i | Merrill Lynch Mortgage Trust | 5.400 | 11/12/37 | 214,075 | |||||||
Series - 2005 CKI1 (Class A6) | ||||||||||||
41,024 | i | Merrill Lynch Mortgage Trust | 5.110 | 07/12/38 | 37,557 | |||||||
Series - 2005 CIP1 (Class AM) | ||||||||||||
75,000 | i | Merrill Lynch Mortgage Trust | 5.840 | 05/12/39 | 80,122 | |||||||
Series - 2006 C1 (Class A4) | ||||||||||||
35,000 | g,i | Merrill Lynch Mortgage Trust | 6.460 | 02/12/51 | 11,876 | |||||||
Series - 2008 C1 (Class C) | ||||||||||||
75,000 | i | Merrill Lynch/Countrywide Commercial Mortgage Trust | 5.590 | 02/12/39 | 79,743 | |||||||
Series - 2006 1 (Class A4) | ||||||||||||
65,000 | i | Merrill Lynch/Countrywide Commercial Mortgage Trust | 6.150 | 08/12/49 | 52,843 | |||||||
Series - 2007 8 (Class AM) | ||||||||||||
13,093 | Morgan Stanley Capital I | 4.690 | 06/13/41 | 13,159 | ||||||||
Series - 2004 T15 (Class A2) | ||||||||||||
80,000 | i | Morgan Stanley Capital I | 5.270 | 06/13/41 | 84,138 | |||||||
Series - 2004 T15 (Class A4) | ||||||||||||
270,000 | i | Morgan Stanley Capital I | 5.450 | 02/12/44 | 268,319 | |||||||
Series - 2007 HQ11 (Class A4) | ||||||||||||
85,000 | Morgan Stanley Capital I | 5.360 | % | 03/15/44 | 83,671 | |||||||
Series - 2007 IQ13 (Class A4) | ||||||||||||
102,000 | i | Morgan Stanley Capital I | 5.730 | 07/12/44 | 109,294 | |||||||
Series - 2006 HQ9 (Class A4) |
123
TIAA-CREF LIFE FUNDS - Bond Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | |||||||
$30,000 | i | Morgan Stanley Capital I | 5.540 | 11/12/49 | $ | 26,141 | |||||
Series - 2007 T25 (Class AM) | |||||||||||
35,000 | Morgan Stanley Capital I | 4.770 | 07/15/56 | 29,422 | |||||||
Series - 0 IQ9 (Class AJ) | |||||||||||
34,443 | i | Structured Adjustable Rate Mortgage Loan Trust | 0.730 | 03/25/35 | 33,088 | ||||||
Series - 2005 6XS (Class A3) | |||||||||||
50,134 | i | Structured Adjustable Rate Mortgage Loan Trust | 6.050 | 07/25/36 | 49,923 | ||||||
Series - 2006 6 (Class 2A1) | |||||||||||
50,000 | i | Wachovia Bank Commercial Mortgage Trust | 6.100 | 02/15/51 | 49,113 | ||||||
Series - 2007 C33 (Class A4) | |||||||||||
TOTAL OTHER MORTGAGE BACKED | 5,787,636 | ||||||||||
TOTAL STRUCTURED ASSETS (Cost $9,770,584) | 9,061,889 | ||||||||||
TOTAL BONDS (Cost $124,780,685) | 129,281,000 | ||||||||||
SHARES | COMPANY | ||||||||||
PREFERRED STOCKS - 0.0% | |||||||||||
AGENCY SECURITIES - 0.0% | |||||||||||
5,517 | Federal Home Loan Mortgage Corp (FHLMC) | 8.380 | 12/30/49 | 1,876 | |||||||
17,265 | Federal National Mortgage Association (FNMA) | 8.250 | 12/30/49 | 5,870 | |||||||
TOTAL AGENCY SECURITIES | 7,746 | ||||||||||
TOTAL PREFERRED STOCKS (Cost $569,550) | 7,746 | ||||||||||
TOTAL INVESTMENTS - 96.7% (Cost $125,350,236) | 129,288,746 | ||||||||||
OTHER ASSETS & LIABILITIES, NET - 3.3% | 4,453,259 | ||||||||||
NET ASSETS - 100.0% | $ | 133,742,005 | |||||||||
Abbreviation(s):
ABS Asset-Based Security
REIT Real Estate Investment Trust
b | In bankruptcy. |
g | Security is exempt from registration under Rule 144(A) of the Securities Act of 1933 and may be resold in transactions exempt from registration to qualified institutional buyers. At 6/30/10, the value of these securities amounted to $7,976,036 or 5.96% of net assets. |
i | Floating or variable rate security. Coupon reflects the rate at period end. |
j | Zero coupon. |
m | Indicates a security that has been deemed illiquid. |
n | In default. |
124
TIAA-CREF LIFE FUNDS - Money Market Fund
TIAA-CREF LIFE FUNDS
MONEY MARKET FUND
SCHEDULE OF INVESTMENTS (unaudited)
June 30, 2010
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | |||||||
SHORT-TERM INVESTMENTS - 99.0% | |||||||||||
BANKER’S ACCEPTANCES - 3.0% | |||||||||||
$500,000 | JPMorgan Chase Bank NA | 08/30/10 | $ | 499,667 | |||||||
1,512,803 | US Bank NA | 08/10/10 | 1,512,063 | ||||||||
TOTAL BANKER’S ACCEPTANCES | 2,011,730 | ||||||||||
CERTIFICATE OF DEPOSIT - 6.4% | |||||||||||
500,000 | Bank of Montreal | 0.280 | 07/20/10 | 500,000 | |||||||
830,000 | Bank of Nova Scotia | 0.440 | 08/24/10 | 830,000 | |||||||
500,000 | Barclays Bank plc | 0.580 | 08/18/10 | 500,000 | |||||||
265,000 | Rabobank Nederland NV | 0.220 | 07/07/10 | 265,000 | |||||||
485,000 | Royal Bank of Scotland plc | 0.320 | 07/12/10 | 485,000 | |||||||
500,000 | Toronto-Dominion Bank | 0.250 | 07/08/10 | 500,000 | |||||||
400,000 | Toronto-Dominion Bank | 0.250 | 07/16/10 | 400,000 | |||||||
500,000 | Toronto-Dominion Bank | 0.320 | 08/06/10 | 500,000 | |||||||
400,000 | Toronto-Dominion Bank | 0.450 | 09/10/10 | 400,000 | |||||||
TOTAL CERTIFICATE OF DEPOSIT | 4,380,000 | ||||||||||
COMMERCIAL PAPER - 24.4% | |||||||||||
470,000 | American Honda Finance Corp | 08/24/10 | 469,781 | ||||||||
500,000 | American Honda Finance Corp | 09/22/10 | 499,574 | ||||||||
500,000 | Bank of Nova Scotia | 08/18/10 | 499,713 | ||||||||
500,000 | Coca-Cola Co | 08/23/10 | 499,798 | ||||||||
500,000 | Coca-Cola Co | 08/31/10 | 499,754 | ||||||||
415,000 | Commonwealth Bank of Australia | 09/10/10 | 414,615 | ||||||||
500,000 | Commonwealth Bank of Australia | 09/27/10 | 499,389 | ||||||||
300,000 | Commonwealth Bank of Australia | 09/29/10 | 299,700 | ||||||||
740,000 | Fairway Finance LLC | 07/13/10 | 739,926 | ||||||||
485,000 | General Electric Capital Corp | 08/27/10 | 484,785 | ||||||||
500,000 | Johnson & Johnson | 08/02/10 | 499,898 | ||||||||
400,000 | Nestle Capital Corp | 07/13/10 | 399,965 | ||||||||
500,000 | Nestle Capital Corp | 07/20/10 | 499,936 | ||||||||
300,000 | Old Line Funding LLC | 07/08/10 | 299,985 | ||||||||
815,000 | Old Line Funding LLC | 07/09/10 | 814,954 | ||||||||
317,000 | Old Line Funding LLC | 08/12/10 | 316,859 | ||||||||
502,000 | Old Line Funding LLC | 09/07/10 | 501,555 | ||||||||
765,000 | Private Export Funding Corp | 07/12/10 | 764,947 | ||||||||
500,000 | Private Export Funding Corp | 08/05/10 | 499,864 | ||||||||
500,000 | Private Export Funding Corp | 08/19/10 | 499,857 | ||||||||
330,000 | Procter & Gamble International Funding S.C.A | 07/01/10 | 330,000 | ||||||||
665,000 | Procter & Gamble International Funding S.C.A | 07/22/10 | 664,942 | ||||||||
425,000 | Province of Ontario Canada | 09/20/10 | 424,751 | ||||||||
400,000 | Rabobank USA Financial Corp | 08/11/10 | 399,836 | ||||||||
820,000 | Royal Bank of Canada | 07/01/10 | 820,000 | ||||||||
760,000 | Royal Bank of Canada | 08/24/10 | 759,555 | ||||||||
395,000 | Santander Central Hispano Finance Delaware, Inc | 10/12/10 | 394,412 | ||||||||
400,000 | Sheffield Receivables Corp | 07/14/10 | 399,960 | ||||||||
500,000 | Sheffield Receivables Corp | 07/22/10 | 499,912 | ||||||||
700,000 | Straight-A Funding LLC | 09/09/10 | 699,469 | ||||||||
800,000 | Straight-A Funding LLC | 09/14/10 | 799,334 | ||||||||
400,000 | Straight-A Funding LLC | 09/20/10 | 399,649 | ||||||||
TOTAL COMMERCIAL PAPER | 16,596,675 | ||||||||||
U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES - 50.3% | |||||||||||
599,000 | Federal Home Loan Bank (FHLB) | 07/01/10 | 599,000 | ||||||||
638,000 | FHLB | 07/07/10 | 637,978 | ||||||||
500,000 | FHLB | 07/14/10 | 499,968 | ||||||||
109,000 | FHLB | 07/16/10 | 108,988 | ||||||||
1,040,000 | FHLB | 07/28/10 | 1,039,859 |
125
TIAA-CREF LIFE FUNDS - Money Market Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | |||||||
$900,000 | FHLB | 08/03/10 | $ | 899,826 | |||||||
500,000 | FHLB | 08/04/10 | 499,910 | ||||||||
700,000 | FHLB | 08/06/10 | 699,867 | ||||||||
775,000 | FHLB | 08/13/10 | 774,815 | ||||||||
260,000 | FHLB | 08/25/10 | 259,897 | ||||||||
300,000 | FHLB | 08/27/10 | 299,891 | ||||||||
474,000 | FHLB | 09/03/10 | 473,874 | ||||||||
385,000 | FHLB | 09/16/10 | 384,662 | ||||||||
776,000 | FHLB | 09/17/10 | 775,689 | ||||||||
1,000,000 | FHLB | 09/24/10 | 999,598 | ||||||||
1,350,000 | Federal Home Loan Mortgage Corp (FHLMC) | 07/02/10 | 1,349,993 | ||||||||
1,100,000 | FHLMC | 07/06/10 | 1,099,969 | ||||||||
200,000 | FHLMC | 07/13/10 | 199,985 | ||||||||
349,000 | FHLMC | 07/14/10 | 348,971 | ||||||||
400,000 | FHLMC | 07/19/10 | 399,960 | ||||||||
1,365,000 | FHLMC | 07/26/10 | 1,364,816 | ||||||||
475,000 | FHLMC | 08/03/10 | 474,922 | ||||||||
779,000 | FHLMC | 08/09/10 | 778,822 | ||||||||
105,000 | FHLMC | 08/10/10 | 104,973 | ||||||||
998,000 | FHLMC | 08/16/10 | 997,694 | ||||||||
1,375,000 | FHLMC | 08/17/10 | 1,374,600 | ||||||||
710,000 | FHLMC | 08/18/10 | 709,785 | ||||||||
440,000 | FHLMC | 08/25/10 | 439,869 | ||||||||
402,000 | FHLMC | 09/01/10 | 401,841 | ||||||||
450,000 | FHLMC | 09/07/10 | 449,779 | ||||||||
190,000 | FHLMC | 09/08/10 | 189,914 | ||||||||
500,000 | FHLMC | 09/13/10 | 499,836 | ||||||||
105,000 | FHLMC | 09/27/10 | 104,918 | ||||||||
1,000,000 | FHLMC | 10/04/10 | 999,393 | ||||||||
2,000,000 | FHLMC | 10/20/10 | 1,998,767 | ||||||||
400,000 | FHLMC | 11/16/10 | 399,509 | ||||||||
500,000 | Federal National Mortgage Association (FNMA) | 07/06/10 | 499,988 | ||||||||
300,000 | FNMA | 07/09/10 | 299,985 | ||||||||
455,000 | FNMA | 07/21/10 | 454,949 | ||||||||
385,000 | FNMA | 07/27/10 | 384,944 | ||||||||
642,000 | FNMA | 07/28/10 | 641,898 | ||||||||
301,000 | FNMA | 08/02/10 | 300,946 | ||||||||
489,000 | FNMA | 08/04/10 | 488,894 | ||||||||
1,026,000 | FNMA | 08/11/10 | 1,025,777 | ||||||||
239,000 | FNMA | 08/16/10 | 238,936 | ||||||||
390,000 | FNMA | 08/23/10 | 389,879 | ||||||||
528,000 | FNMA | 08/31/10 | 527,776 | ||||||||
500,000 | FNMA | 09/13/10 | 499,702 | ||||||||
895,000 | FNMA | 09/22/10 | 894,546 | ||||||||
1,500,000 | FNMA | 10/05/10 | 1,499,108 | ||||||||
700,000 | FNMA | 10/13/10 | 699,373 | ||||||||
400,000 | FNMA | 10/25/10 | 399,678 | ||||||||
1,000,000 | FNMA | 12/01/10 | 998,458 | ||||||||
300,000 | FNMA | 04/11/11 | 298,935 | ||||||||
TOTAL U.S. GOVERNMENT AND AGENCIES DISCOUNT NOTES | 34,185,910 | ||||||||||
U.S. GOVERNMENT AND AGENCIES VARIABLE NOTES - 2.2% | |||||||||||
1,000,000 | i | Federal Home Loan Bank (FHLB) | 0.300 | 05/26/11 | 1,000,000 | ||||||
500,000 | i | FHLB | 0.350 | 06/01/11 | 500,093 | ||||||
TOTAL U.S. GOVERNMENT AND AGENCIES VARIABLE NOTES | 1,500,093 | ||||||||||
U.S. TREASURY BILLS - 12.7% | |||||||||||
1,500,000 | United States Cash Management Bill | 07/15/10 | 1,499,907 | ||||||||
500,000 | United States Treasury Bill | 07/29/10 | 499,938 | ||||||||
500,000 | United States Treasury Bill | 08/19/10 | 499,927 | ||||||||
1,000,000 | United States Treasury Bill | 08/26/10 | 999,745 | ||||||||
1,365,000 | United States Treasury Bill | 09/30/10 | 1,364,364 | ||||||||
450,000 | United States Treasury Bill | 11/04/10 | 449,795 | ||||||||
500,000 | United States Treasury Bill | 11/12/10 | 499,719 | ||||||||
615,000 | United States Treasury Bill | 11/18/10 | 614,490 |
126
TIAA-CREF LIFE FUNDS - Money Market Fund
PRINCIPAL | ISSUER | RATE | MATURITY DATE | VALUE | |||||||
$460,000 | United States Treasury Bill | 11/26/10 | $ | 459,665 | |||||||
500,000 | United States Treasury Note | 2.750 | 07/31/10 | 500,970 | |||||||
500,000 | United States Treasury Note | 1.250 | 11/30/10 | 501,998 | |||||||
750,000 | United States Treasury Note | 0.880 | 01/31/11 | 752,232 | |||||||
TOTAL U.S. TREASURY BILLS | 8,642,750 | ||||||||||
TOTAL SHORT-TERM INVESTMENTS (Cost $67,317,158) | 67,317,158 | ||||||||||
TOTAL PORTFOLIO - 99.0% (Cost $67,317,158) | 67,317,158 | ||||||||||
OTHER ASSETS & LIABILITIES, NET - 1.0% | 701,769 | ||||||||||
NET ASSETS - 100.0% | $ | 68,018,927 | |||||||||
i | Floating or variable rate security. Coupon reflects the rate at period end. |
127
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. |
(a) An evaluation was performed within 90 days of the date hereof under the supervision of the Registrant’s management, including the principal executive officer and principal financial officer, of the effectiveness of the design and operation of the Registrant’s disclosure controls and procedures. Based on that evaluation, the Registrant’s management, including the principal executive officer and principal financial officer, concluded that the Registrant’s disclosure controls and procedures were effective for this semi-annual reporting period.
(b) There were no changes in the Registrant’s internal control over financial reporting that occurred during the Registrant’s fiscal half year-end that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 12. | Exhibits. |
12(a)(2)(i) | Section 302 certification of the principal executive officer | |
12(a)(2)(ii) | Section 302 certification of the principal financial officer | |
12(b) | Section 906 certification of principal executive officer and principal financial officer |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
TIAA-CREF LIFE FUNDS | ||||||
Dated: August 20, 2010 | By: | /S/ SCOTT C. EVANS | ||||
Scott C. Evans | ||||||
President and Principal Executive Officer |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
Dated: August 20, 2010 | By: | /S/ SCOTT C. EVANS | ||||
Scott C. Evans | ||||||
President and Principal Executive Officer | ||||||
(principal executive officer) | ||||||
Dated: August 20, 2010 | By: | /S/ PHILLIP G. GOFF | ||||
Phillip G. Goff | ||||||
Principal Financial Officer, Principal Accounting | ||||||
Officer and Treasurer | ||||||
(principal financial officer) |
EXHIBIT INDEX
Item 12. | Exhibits. |
12(a)(2)(i) | Section 302 certification of the principal executive officer | |
12(a)(2)(ii) | Section 302 certification of the principal financial officer | |
12(b) | Section 906 certification of principal executive officer and principal financial officer |