Vanguard Lifetime Income Program - Equity Index Portfolio

Quarter-End Holdings as of 08/31/2016

1Apple Inc.3.1%
2Alphabet Inc.2.4%
3Microsoft Corp.2.4%
4Exxon Mobil Corp.1.9%
5Johnson & Johnson1.7% Inc.1.6%
7Facebook Inc.1.5%
8General Electric Co.1.5%
9Berkshire Hathaway Inc.1.5%
10AT&T Inc.1.3%
Ten largest holdings = 18.9% of total net assets

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

Vanguard portfolio holdings disclaimer