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

Quarter-End Holdings as of 10/31/2017

1Samsung Electronics Co. Ltd.1.1%
2Royal Dutch Shell plc1.1%
3Nestle SA1.1%
4Tencent Holdings Ltd.1.0%
5HSBC Holdings plc0.8%
6Taiwan Semiconductor Manufacturing Co. Ltd.0.8%
7Novartis AG0.8%
8Roche Holding AG0.7%
9Toyota Motor Corp.0.7%
Ten largest holdings = 8.7% of total net assets

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

Vanguard portfolio holdings disclaimer