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

Region Allocation as of 12/31/2016


Equity Characteristics as of 12/31/2016
 VLIP-Total Intl Stock IdxFTSE Global All Cap ex US Index
Number of Stocks61205792
Turnover Rate (Fiscal Year End October)3.1%
Short-Term Reserves
Total Net Assets

Month End Ten Largest Holdings as of 12/31/2016
RankHolding
1Royal Dutch Shell plc
2Nestle SA
3Novartis AG
4Samsung Electronics Co. Ltd.
5Roche Holding AG
6HSBC Holdings plc
7Toyota Motor Corp.
8Taiwan Semiconductor Manufacturing Co. Ltd.
9Tencent Holdings Ltd.
10BP plc
Ten largest holdings = 8.5% of total net assets

Quarter-end top ten holdings with weighting

Portfolio holdings

Country Diversification (% of common stock) as of 12/31/2016
 VLIP-Total Intl Stock Idx
Japan17.8%
United Kingdom13.1%
Canada7.1%
France6.3%
Germany6.2%
Switzerland5.8%
Australia5.2%
China4.6%
Korea3.3%
Taiwan3.1%
Hong Kong2.5%
India2.3%
Sweden2.2%
Netherlands2.2%
Spain2.1%
Brazil1.7%
Italy1.7%
South Africa1.6%
Denmark1.1%
Russia1.0%
Singapore0.9%
Belgium0.9%
Finland0.8%
Mexico0.8%
Thailand0.8%
Malaysia0.7%
Norway0.6%
Indonesia0.5%
Israel0.4%
Chile0.3%
Philippines0.3%
Poland0.3%
Turkey0.2%
Austria0.2%
Ireland0.2%
New Zealand0.2%
United Arab Emirates0.2%
Colombia0.1%
Egypt0.1%
Greece0.1%
Hungary0.1%
Other0.1%
Pakistan0.0%
Peru0.1%
Portugal0.1%
Qatar0.1%
Argentina0.0%
Czech Republic0.0%

Glossary