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Vanguard Lifetime Income Program - Dividend Growth Fund [QF]

Quarter-End Holdings as of 06/30/2015

1United Parcel Service Inc.3.2%
2Microsoft Corp.2.9%
3UnitedHealth Group Inc.2.9%
4TJX Cos. Inc.2.9%
5Honeywell International Inc.2.7%
6NIKE Inc.2.7%
7ACE Ltd.2.7%
8Coca-Cola Co.2.6%
9Accenture plc2.6%
10Praxair Inc.2.5%
Ten largest holdings = 27.7% of total net assets

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

Vanguard portfolio holdings disclaimer