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Vanguard Variable Annuity - Small Company Growth Portfolio

Quarter-End Holdings as of 09/30/2015

1Euronet Worldwide Inc.1.5%
2Super Micro Computer Inc.1.3%
3SPS Commerce Inc.1.2%
4Ultimate Software Group Inc.1.1%
5Sucampo Pharmaceuticals Inc.1.0%
6Advisory Board Co.0.8%
7Douglas Dynamics Inc.0.8%
8Gigamon Inc.0.8%
9Ruckus Wireless Inc.0.8%
10Perficient Inc.0.8%
Ten largest holdings = 10.1% of total net assets

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

Vanguard portfolio holdings disclaimer