Lifestyle Conservative Fund Lifestyle Moderate Fund

November 30, 2020 May 31, 2020 November 30, 2020 May 31, 2020
(unaudited) (unaudited)

$ 1,732,235 $ 5,624,279 $ 2,237,605 $ 8,756,441

8,147,304 2,650,111 18,510,526 5,968,147

23,811,954 6,132,044 56,554,105 10,223,187

33,691,493 14,406,434 77,302,236 24,947,775

(257,116) (1,246,088) (312,681) (2,262,993)

(43,402) (87,884) (68,563) (259,983)
(4,305) (23,165) (2,841) (34,321)
(286,914) (1,635,540) (445,858) (4,382,431)
(1,209,748) (5,953,830) (1,468,654) (11,666,976)
(1,801,485) (8,946,507) (2,298,597) (18,606,704)

10,895,814 17,762,239 8,783,737 21,604,803

510,403 1,010,365 539,767 1,002,866
1,107 12,731 — 452
6,600,011 8,763,699 8,820,928 10,579,881
11,342,527 20,954,305 10,241,010 25,150,555
— — — —
— 8,131,840 — 17,748,392
— — — —
— — — —
— 47,414,432 — 128,111,049
257,026 1,245,624 312,600 2,262,319
40,282 76,795 65,058 244,911
2,678 14,262 1,426 21,261
286,838 1,635,105 445,794 4,381,791
1,170,304 5,868,063 1,430,244 11,429,389
(6,599,256) (12,584,139) (4,959,369) (11,713,906)
(612,611) (3,054,206) (2,127,079) (6,718,950)
(2,981) (78,104) (397) (496,775)
(2,450,690) (9,394,796) (6,292,180) (15,437,146)
(12,619,345) (30,086,703) (19,719,452) (53,162,619)
8,822,107 57,691,512 (2,457,913) 135,008,273
40,712,115 63,151,439 72,545,726 141,349,344

294,180,794 231,029,355 490,033,191 348,683,847

$334,892,909 $294,180,794 $562,578,917 $490,033,191

See notes to financial statements TIAA-CREF Lifestyle Funds ■ 2020 Semiannual Report 37