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Form N-PX · fund family11 filers grouped

Goldman Sachs

Fund registrants and adviser entities grouped under Goldman Sachs by this site's alias table

Vote records reported
330,562year to 30 June 2026
Against management
7.4%23,847 of 323,464 marked votes
Say-on-pay support
93.1%for, of for + against + abstain
Shareholder-proposal support
32.3%for, of for + against + abstain
90.2% for8.6% against1.3% other7.4% against management326,062 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

Goldman Sachs reported 330,562 vote records for the year to 30 June 2026. It marked 7.4% of its votes as cast against management (23,847 of 323,464), close to the median of the fund families tracked here, which was 7.8%.

Weighted by the number of shares voted, the against-management share is 4.3%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 93.1% of the section 14A say-on-pay items it reported (the median of the fund families tracked here: 88.2%) and it voted for 32.3% of the proposals put forward by security holders (the median of the fund families tracked here: 30.7%).

By category, votes against management were most frequent in EXTRAORDINARY TRANSACTIONS (25.8% of 4,272), SHAREHOLDER RIGHTS AND DEFENSES (21.1% of 837) and CORPORATE GOVERNANCE (14.9% of 55,451).

It reported 1.59 billion shares out on loan at record dates, 1.64% of the shares it held or had lent across the meetings it reported. Shares on loan are not voted.

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 60 families with at least 25 vote records in the season.

year to 30 June 2026This familyMedian familyAll filers pooled
Against-management share7.4%7.8%10.6%
Say-on-pay support rate93.1%88.2%86.0%
Shareholder-proposal support rate32.3%30.7%33.9%
Shares on loan, share of shares held1.64%1.53%3.12%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS164,626157,3374,9624.0%
SECTION 14A SAY-ON-PAY VOTES20,34017,5101,2937.1%
AUDIT-RELATED23,41622,8075902.3%
INVESTMENT COMPANY MATTERS524847.7%
SHAREHOLDER RIGHTS AND DEFENSES86569414921.1%
EXTRAORDINARY TRANSACTIONS4,2733,1581,11525.8%
CAPITAL STRUCTURE32,09329,4092,6758.5%
COMPENSATION27,03723,4683,53612.4%
CORPORATE GOVERNANCE56,19445,53310,53314.9%
ENVIRONMENT OR CLIMATE1,9725441,4220.6%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE9964595370.2%
DIVERSITY, EQUITY, AND INCLUSION1,1274576700.0%
OTHER SOCIAL ISSUES2,9971,0981,8935.4%
OTHER3,0912,0499936.5%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 2024202,3927.9%90.5%17.7%
year to 30 June 2025203,0806.5%92.5%14.5%
year to 30 June 2026330,5627.4%93.1%32.3%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, Goldman Sachs voted against management on 196 of the 3,048 it marked either way (6.4%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

A further 67 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.

Shareholder proposals it supported

Of 1,302 proposals from security holders that could be told apart in the filings and on which it cast a vote, Goldman Sachs voted for 456 (35.0%). The 40 at the companies with the most reporting filers are listed. Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Tesla, Inc.6 Nov 2025Shareholder proposal: CORPORATE GOVERNANCE
Starbucks Corporation25 Mar 2026Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority...
Palo Alto Networks, Inc.9 Dec 2025To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding...
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding annual vote regarding executive pay.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding disclosure of voting results by share class.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding dual class capital structure.
United Parcel Service, Inc.7 May 2026To take steps to reduce the voting power of UPS class A stock from 10 votes per share to one vote per share.
FORD MOTOR COMPANY14 May 2026A shareholder proposal relating to a request that the Board take steps to implement one vote per share for...
FORD MOTOR COMPANY14 May 2026A shareholder proposal relating to public disclosure by share class of voting results on matters subject...
Snowflake Inc.29 Jun 2026To consider and vote on, if properly presented at the meeting, a non-binding stockholder proposal...
Cintas Corporation28 Oct 2025A shareholder proposal regarding support for shareholder ability to call for a special shareholder meeting.
AppLovin Corporation3 Jun 2026Stockholder proposal regarding disclosure of voting results by class of shares
Airbnb, Inc.5 Jun 2026Dual-class sunset; and
Datadog, Inc.15 Jun 2026The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple...
NRG Energy, Inc.30 Apr 2026To vote on a stockholder proposal to give shareholders the ability to call for a special shareholder meeting
Keysight Technologies, Inc.19 Mar 2026Consider, on a non-binding advisory basis, a Stockholder Proposal: Shareholder Ability to Call for a...
SHOPIFY INC.16 Jun 2026Shareholder Proposal Vote on the shareholder proposal, as disclosed in the Management Information Circular...
Workday, Inc.16 Jun 2026To consider and vote upon a stockholder proposal regarding disclosure of voting results based on share class.
Lennar Corporation8 Apr 2026Vote on a stockholder proposal on Disclosure of Voting Result by Share Class.
Lennar Corporation8 Apr 2026Shareholder proposal: SHAREHOLDER RIGHTS AND DEFENSES
ON Semiconductor Corporation14 May 2026To vote on a stockholder proposal regarding simple majority voting
Albemarle Corporation5 May 2026Shareholder Proposal regarding shareholders ability to call for a special shareholder meeting.
lululemon athletica inc.25 Jun 2026Declassify the Board of Directors
Zscaler, Inc.12 Jan 2026To vote on a non-binding stockholder proposal requesting the declassification of our board of directors.
Tyson Foods, Inc.5 Feb 2026Shareholder proposal regarding disclosure of voting results based on class of shares.
HubSpot, Inc.15 Jun 2026A stockholder proposal to change the Company's Sixth Amended and Restated Bylaws to allow 10% holders of...
Norwegian Cruise Line Holdings Ltd.11 Jun 2026A shareholder proposal requesting the declassification of our board of directors
Campbell Soup Company18 Nov 2025To vote on a shareholder proposal regarding simple majority voting.
Universal Health Services, Inc.20 May 2026Disclosure of Voting Results Based on Shareholders' Money at Risk
TransUnion12 May 2026Advisory vote on a stockholder proposal requesting a stockholder right to call a special meeting.
Fortune Brands Innovations, Inc.5 May 2026Advisory vote to approve named executive officer compensation
Henry Schein, Inc.21 May 2026Proposal to approve, by non-binding vote, a shareholder proposal to Govern by Majority Vote.
MKS Instruments, Inc.11 May 2026A shareholder proposal to reduce the threshold percentage of shareholders required to call a special...
Five Below, Inc.16 Jun 2026Shareholder proposal requesting that provisions in the Company's governance documents requiring greater...
Fox Corporation14 Nov 2025Simple Majority Vote.
OGE Energy Corp.14 May 2026Shareholder Proposal Regarding Simple Majority Vote.
Eagle Materials Inc.4 Aug 2025Non-binding advisory stockholder proposal requesting the declassification of our Board of Directors.
AGCO Corporation23 Apr 2026Stockholder proposal regarding giving stockholders an ability to call for a special stockholder meeting

Shares on loan

Goldman Sachs reported 1.59 billion shares on loan at record dates against 95.62 billion shares voted: 1.64% of the two together. Median family: 1.53%. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Filers grouped under this family

Grouping is by registrant and manager name, from a hand-maintained table. See the methodology.

FilerTypeVote records, year to 30 June 2026
Goldman Sachs ETF Trustfund registrant129,326
GOLDMAN SACHS TRUSTfund registrant99,343
Goldman Sachs ETF Trust IIfund registrant56,237
Goldman Sachs Trust IIfund registrant24,478
GOLDMAN SACHS VARIABLE INSURANCE TRUSTfund registrant14,721
GOLDMAN SACHS ASSET MANAGEMENT, L.P.institutional manager3,206
GOLDMAN SACHS & CO. LLCinstitutional manager1,292
GOLDMAN SACHS INTERNATIONALinstitutional manager792
Goldman Sachs Trust Company, N.A.institutional manager564
GOLDMAN SACHS WEALTH SERVICES, L.P.institutional manager412
Goldman Sachs Real Estate Diversified Income Fundfund registrant191

Questions

How did Goldman Sachs vote on executive pay?

In the year to 30 June 2026 Goldman Sachs reported 18,810 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 17,507 were for (93.1%), 1,293 against and 10 abstentions. Counting one item per company meeting, it voted against management on 196 of the 3,048 say-on-pay items it marked either way. A further 67 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does Goldman Sachs vote against management?

7.4% of the time in the year to 30 June 2026: 23,847 of the 323,464 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did Goldman Sachs support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 1,434 votes on proposals from security holders in the year to 30 June 2026 and voted for 6 of them (0.4%). Across every category it voted for 32.3% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of the registrants and managers grouped under this family on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings of the filers listed above, read as filed and not verified by the SEC. Filings read through 23 Sep 2026; page built 26 Sep 2026.