Statements of changes in net assets

TIAA-CREF Lifestyle Funds ■ For the period or year ended

Lifestyle Growth Fund

November 30, 2020 May 31, 2020
(unaudited)

CHANGE IN FUND SHARES

Shares sold: Institutional Class 218,796 987,740
Advisor Class 18,991 41,923
Premier Class 1,510 5,451
Retirement Class 189,310 465,419
Retail Class 280,646 985,938
Shares from fund
reorganization:‡ Institutional Class — —
Advisor Class — 855,350
Premier Class — —
Retirement Class — —
Retail Class — 5,373,025
Shares reinvested: Institutional Class — 135,302
Advisor Class — 9,142
Premier Class — 3,669
Retirement Class — 141,311
Retail Class — 369,806
Shares redeemed: Institutional Class (335,609) (1,145,058)
Advisor Class (95,810) (333,131)
Premier Class (94) (23,890)
Retirement Class (243,235) (504,713)
Retail Class (724,445) (1,612,063)
Net increase (decrease) from shareholder transactions (689,940) 5,755,221

42 2020 Semiannual Report ■ TIAA-CREF Lifestyle Funds See notes to financial statements