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

Quarter-End Holdings as of 03/31/2015

1Nestle SA1.1%
2Novartis AG1.1%
3Roche Holding AG0.9%
4Royal Dutch Shell plc0.9%
5Toyota Motor Corp.0.9%
6HSBC Holdings plc0.8%
7Samsung Electronics Co. Ltd.0.7%
8Bayer AG0.6%
9BHP Billiton0.6%
10BP plc0.6%
Ten largest holdings = 8.2% of total net assets

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

Vanguard portfolio holdings disclaimer