Vanguard Lifetime Income Program - Equity Index Portfolio

Quarter-End Holdings as of 10/31/2016

1Apple Inc.3.3%
2Alphabet Inc.2.5%
3Microsoft Corp.2.5%
4Exxon Mobil Corp.1.9%
5Johnson & Johnson1.7% Inc.1.7%
7Facebook Inc.1.6%
8Berkshire Hathaway Inc.1.5%
9General Electric Co.1.4%
10JPMorgan Chase & Co.1.4%
Ten largest holdings = 19.5% of total net assets

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

Vanguard portfolio holdings disclaimer