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Vanguard Variable Annuity - Capital Growth Portfolio

Quarter-End Holdings as of 03/31/2015

RankHoldingPercentage
1Biogen Inc.7.6%
2Amgen Inc.4.9%
3Eli Lilly & Co.4.4%
4Texas Instruments Inc.4.1%
5Roche Holding AG3.4%
6Adobe Systems Inc.3.4%
7Microsoft Corp.3.3%
8FedEx Corp.3.3%
9Google Inc.3.3%
10Southwest Airlines Co.3.2%
Ten largest holdings = 40.9% of total net assets

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

Vanguard portfolio holdings disclaimer