Vanguard Lifetime Income Program - Dividend Growth Fund [QF]

Quarter-End Holdings as of 06/30/2017

1NIKE Inc.4.0%
2Microsoft Corp.3.5%
3Costco Wholesale Corp.3.0%
4Chubb Ltd.2.9%
5Canadian National Railway Co.2.7%
6United Parcel Service Inc.2.6%
7Coca-Cola Co.2.5%
8Accenture plc2.5%
9Visa Inc.2.5%
10Colgate-Palmolive Co.2.5%
Ten largest holdings = 28.7% of total net assets

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

Vanguard portfolio holdings disclaimer