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

Quarter-End Holdings as of 06/30/2016

1Nestle SA1.2%
2Royal Dutch Shell plc1.1%
3Novartis AG1.0%
4Roche Holding AG1.0%
5Samsung Electronics Co. Ltd.0.8%
6Toyota Motor Corp.0.7%
8HSBC Holdings plc0.6%
9Tencent Holdings Ltd.0.6%
10Taiwan Semiconductor Manufacturing Co. Ltd.0.6%
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