Vanguard Lifetime Income Program - Growth Portfolio

Quarter-End Holdings as of 06/30/2017

1Alphabet Inc.5.8%
2Microsoft Corp.4.1%
3Facebook Inc.3.8%
4Mastercard Inc.3.6%
5PayPal Holdings Inc.3.4%
6Visa Inc.3.2%
7Celgene Corp.2.9%
8eBay Inc.2.7%
9Apple Inc.2.4%
10Intercontinental Exchange Inc.2.4%
Ten largest holdings = 34.3% of total net assets

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

Vanguard portfolio holdings disclaimer