Vanguard Lifetime Income Program - Equity Index Portfolio

Quarter-End Holdings as of 05/31/2017

1Apple Inc.3.8%
2Alphabet Inc.2.8%
3Microsoft Corp.2.6% Inc.1.9%
5Facebook Inc.1.7%
6Johnson & Johnson1.7%
7Exxon Mobil Corp.1.6%
8Berkshire Hathaway Inc.1.5%
9JPMorgan Chase & Co.1.4%
10General Electric Co.1.1%
Ten largest holdings = 20.1% of total net assets

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

Vanguard portfolio holdings disclaimer