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Vanguard Lifetime Income Program - Capital Growth Portfolio

Quarter-End Holdings as of 09/30/2015

1Biogen Inc.5.5%
2Eli Lilly & Co.5.5%
3Amgen Inc.4.5%
4Adobe Systems Inc.4.2%
5Google Inc.4.1%
6Texas Instruments Inc.4.0%
7Microsoft Corp.4.0%
8Roche Holding AG3.5%
9FedEx Corp.3.2%
10Southwest Airlines Co.3.0%
Ten largest holdings = 41.5% of total net assets

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

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