Vanguard Lifetime Income Program - International Portfolio

Quarter-End Holdings as of 09/30/2017

RankHoldingPercentage
1Tencent Holdings Ltd.5.7%
2Alibaba Group Holding Ltd.5.2%
3Baidu Inc.3.7%
4ASML Holding NV3.6%
5AIA Group Ltd.2.9%
6Industria de Diseno Textil SA2.6%
7Amazon.com Inc.2.5%
8Ferrari NV1.9%
9Svenska Handelsbanken AB1.9%
10Banco Bilbao Vizcaya Argentaria SA1.8%
Ten largest holdings = 31.8% of total net assets

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

Vanguard portfolio holdings disclaimer