Vanguard Lifetime Income Program - Equity Index Portfolio

Quarter-End Holdings as of 09/30/2016

1Apple Inc.3.2%
2Alphabet Inc.2.5%
3Microsoft Corp.2.4%
4Exxon Mobil Corp.1.9% Inc.1.8%
6Johnson & Johnson1.7%
7Facebook Inc.1.6%
8Berkshire Hathaway Inc.1.5%
9General Electric Co.1.4%
10AT&T Inc.1.3%
Ten largest holdings = 19.3% of total net assets

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

Vanguard portfolio holdings disclaimer