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Vanguard Lifetime Income Program - Mid-Cap Index Portfolio

Quarter-End Holdings as of 03/31/2015

1AmerisourceBergen Corp.0.7%
2Boston Scientific Corp.0.7%
3Delphi Automotive plc0.7%
4AvalonBay Communities Inc.0.7%
5Cerner Corp.0.7%
6Moody's Corp.0.6%
7Monster Beverage Corp.0.6%
8Ross Stores Inc.0.6%
9O'Reilly Automotive Inc.0.6%
10Chipotle Mexican Grill Inc.0.6%
Ten largest holdings = 6.5% of total net assets

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

Vanguard portfolio holdings disclaimer