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Vanguard Lifetime Income Program - Total International Stock Index Fund [QF]

Quarter-End Holdings as of 12/31/2015

1Nestle SA1.2%
2Roche Holding AG1.0%
3Novartis AG1.0%
4Toyota Motor Corp.0.9%
5HSBC Holdings plc0.8%
6Royal Dutch Shell plc0.7%
7Samsung Electronics Co. Ltd.0.7%
9Novo Nordisk A/S0.6%
10Commonwealth Bank of Australia0.5%
Ten largest holdings = 8.0% of total net assets

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

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