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

Quarter-End Holdings as of 03/31/2017

1Nestle SA1.1%
2Royal Dutch Shell plc1.0%
3Samsung Electronics Co. Ltd.1.0%
4Roche Holding AG0.9%
5Novartis AG0.8%
6HSBC Holdings plc0.8%
7Tencent Holdings Ltd.0.7%
8Taiwan Semiconductor Manufacturing Co. Ltd.0.7%
9Toyota Motor Corp.0.7%
Ten largest holdings = 8.3% of total net assets

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

Vanguard portfolio holdings disclaimer