Vanguard Lifetime Income Program - Equity Index Portfolio

Quarter-End Holdings as of 07/31/2017

1Apple Inc.3.6%
2Microsoft Corp.2.6%
3Alphabet Inc.2.6%
4Facebook Inc.1.9% Inc.1.8%
6Johnson & Johnson1.7%
7Exxon Mobil Corp.1.6%
8Berkshire Hathaway Inc.1.6%
9JPMorgan Chase & Co.1.5%
10Wells Fargo & Co.1.1%
Ten largest holdings = 20.0% of total net assets

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

Vanguard portfolio holdings disclaimer