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Vanguard Health Care Fund Investor Shares (VGHCX)

Quarter-End Holdings as of 12/31/2015

1Allergan plc6.5%
2Bristol-Myers Squibb Co.6.1%
3UnitedHealth Group Inc.5.3%
4Merck & Co. Inc.5.1%
5Eli Lilly & Co.4.0%
6AstraZeneca plc3.8%
7Medtronic plc3.0%
8Mylan NV2.5%
9McKesson Corp.2.5%
10Regeneron Pharmaceuticals Inc.2.4%
Ten largest holdings = 41.2% of total net assets

Portfolio holdings may exclude any temporary cash investments and equity index products.

Vanguard portfolio holdings disclaimer