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Vanguard Lifetime Income Program - Growth Portfolio

Quarter-End Holdings as of 06/30/2015

1Apple Inc.4.2%
2MasterCard Inc.3.5%
3Google Inc.3.3%
4Visa Inc.2.4%
5Celgene Corp.2.4%
6Allergan plc2.0%
7Home Depot Inc.2.0%
8QUALCOMM Inc.2.0%
9Biogen Inc.1.9%
10eBay Inc.1.9%
Ten largest holdings = 25.6% of total net assets

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

Vanguard portfolio holdings disclaimer