Vanguard Lifetime Income Program - Equity Index Portfolio

Quarter-End Holdings as of 03/31/2017

1Apple Inc.3.7%
2Microsoft Corp.2.5%
3Alphabet Inc.2.4% Inc.1.7%
5Exxon Mobil Corp.1.7%
6Johnson & Johnson1.7%
7Facebook Inc.1.6%
8Berkshire Hathaway Inc.1.6%
9JPMorgan Chase & Co.1.5%
10General Electric Co.1.3%
Ten largest holdings = 19.7% of total net assets

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

Vanguard portfolio holdings disclaimer