Vanguard VIF Conservative Allocation Division

Portfolio Composition

as of 06/30/2025

Asset Type	Net	Short	Long
U.S. Bonds	38.48%	0.02%	38.5%
U.S. Stocks	24.68%	0.0%	24.68%
Non-U.S. Bonds	19.19%	0.0%	19.19%
Non-U.S. Stocks	16.18%	0.0%	16.18%
Cash	1.43%	12.34%	13.77%
Other	0.03%	0.0%	0.03%
Convertibles	0.01%	0.0%	0.01%
Total	100%

Top 10 Holdings

as of 06/30/2025

What's this?

% of Net Assets

Vanguard VIF Total Bond Mkt Idx	41.35
Vanguard VIF Equity Index	21.85
Vanguard Total Intl Bd Idx Admiral(TM)	17.20
Vanguard Total Intl Stock Index Admiral	16.67
Vanguard Extended Market Index Admiral	3.00

Total*: 100.07

*Values may exceed 100% if both long and short positions are included in the portfolio

Morningstar Style Box™

as of 06/30/2025

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Stock Sector Breakdown

as of 06/30/2025

What's this?

% of Net Assets

Cyclical

34.36

Basic Materials	3.73
Consumer Cyclical	10.37
Financial Svcs	17.57
Real Estate	2.69

Defensive

17.17

Consumer Defensive	5.59
Healthcare	8.95
Utilities	2.63

Sensitive

48.46

Comm Svcs	7.91
Energy	3.63
Industrials	11.67
Technology	25.25

Analysis

as of 06/30/2025

Average Market Cap (mil):	$114,213.31
Price/Earnings Ratio:	18.60
Price/Book Ratio:	2.60
Price/Cash Flow Ratio:	11.36
Turnover Ratio:	9.00%
# Stock Holdings:	0
# Bond Holdings:	0
# Other Holdings:	6
Total # of Holdings:	6

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