Vanguard Lifetime Income Program - Small Company Growth Portfolio

Quarter-End Holdings as of 12/31/2017

1LPL Financial Holdings Inc.1.7%
2TriNet Group Inc.1.7%
3Sensata Technologies Holding NV1.5%
4ServiceMaster Global Holdings Inc.1.2%
5Sally Beauty Holdings Inc.1.2%
6CDW Corp.1.2%
7MSC Industrial Direct Co. Inc.1.1%
8Kirby Corp.1.1%
9Clean Harbors Inc.1.1%
10STERIS plc1.0%
Ten largest holdings = 12.8% of total net assets

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

Vanguard portfolio holdings disclaimer