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UNDISCOVERED MANAGERS FUNDS
fund voting report
- Vote records reported
- 1,062year to 30 June 2026
- Against management
- 2.6%28 of 1,062 marked votes
- Say-on-pay support
- 94.8%for, of for + against + abstain
- Shareholder-proposal support
- 88.9%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
For the year to 30 June 2026, UNDISCOVERED MANAGERS FUNDS reported 1,062 vote records on Form N-PX. 28 of the 1,062 votes that were marked for or against management went against management: 2.6%, 3.6 percentage points below the median fund registrant (6.2%).
Weighted by the number of shares voted, the against-management share is 2.0%. 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 94.8% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 88.9% of the proposals put forward by security holders (the median fund registrant: 27.5%).
By category, votes against management were most frequent in CORPORATE GOVERNANCE (16.7% of 42), COMPENSATION (14.3% of 28) and SECTION 14A SAY-ON-PAY VOTES (4.9% of 102).
It reported 24.3 million shares out on loan at record dates, 0.60% 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 1,241 fund registrants with at least 25 vote records in the season.
| year to 30 June 2026 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 2.6% | 6.2% | 10.6% |
| Say-on-pay support rate | 94.8% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 88.9% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.60% | 0.00% | 3.12% |
| Largest families, year to 30 June 2026 | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|
| Vanguard | 20.1% | 94.1% | 42.0% |
| BlackRock and iShares | 7.5% | 88.3% | 11.9% |
| Fidelity | 6.0% | 94.7% | 27.6% |
| Dimensional | 16.4% | 78.9% | 57.4% |
| State Street and SPDR | 16.9% | 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) | Votes | For | Against | Against management | Split |
|---|---|---|---|---|---|
| DIRECTOR ELECTIONS | 766 | 756 | 5 | 1.3% | |
| SECTION 14A SAY-ON-PAY VOTES | 102 | 91 | 5 | 4.9% | |
| AUDIT-RELATED | 93 | 93 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 4 | 4 | 0 | 0.0% | |
| CAPITAL STRUCTURE | 24 | 23 | 1 | 4.2% | |
| COMPENSATION | 28 | 24 | 4 | 14.3% | |
| CORPORATE GOVERNANCE | 42 | 42 | 0 | 16.7% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 1 | 0 | 1 | 0.0% | |
| OTHER SOCIAL ISSUES | 1 | 1 | 0 | 100.0% | |
| OTHER | 1 | 1 | 0 | 0.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 1,114 | 3.4% | 91.6% | 42.9% | |
| year to 30 June 2025 | 1,140 | 3.3% | 92.9% | 53.8% | |
| year to 30 June 2026 | 1,062 | 2.6% | 94.8% | 88.9% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, UNDISCOVERED MANAGERS FUNDS voted against management on 5 of the 93 it marked either way (5.4%) in the year to 30 June 2026.
- Fidelity National Information Services, Inc. 10 Jun 2026
- TEGNA Inc. 18 Nov 2025
- Tri Pointe Homes, Inc. 16 Apr 2026
- Berkshire Hills Bancorp, Inc. 13 May 2026
- Lineage, Inc. 9 Jun 2026
Shareholder proposals it supported
Of 9 proposals from security holders that could be told apart in the filings and on which it cast a vote, UNDISCOVERED MANAGERS FUNDS voted for 8 (88.9%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Resideo Technologies, Inc. | 3 Jun 2026 | Shareholder Proposal Regarding Shareholder Right to Act by Written Consent. |
| The Timken Company | 8 May 2026 | Corporate governance |
| AGCO Corporation | 23 Apr 2026 | Stockholder proposal regarding giving stockholders an ability to call for a special stockholder meeting |
| Sonoco Products Company | 15 Apr 2026 | Advisory (non-binding) shareholder proposal - avoid brand damage from political spending. |
| Graphic Packaging Holding Company | 11 Jun 2026 | Stockholder Proposal - Give Shareholders the Ability to call for a Special Shareholder Meeting. |
| Americold Realty Trust | 18 May 2026 | Other issues |
| Columbia Sportswear Company | 10 Jun 2026 | Shareholder proposal regarding proxy access. |
| ICU Medical, Inc. | 13 May 2026 | To approve, on an advisory basis, a stockholder proposal to establish a 10% stockholder special meeting right. |
Shares on loan
UNDISCOVERED MANAGERS FUNDS reported 24.3 million shares on loan at record dates against 4.04 billion shares voted: 0.60% of the two together. Median fund registrant: 0.00%. 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.
Fund series in this filing
1 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.
| Series | Vote records | Against management | Say-on-pay support | Shareholder-proposal support |
|---|---|---|---|---|
| Undiscovered Managers Behavioral Value Fund | 1,062 | 2.6% | 94.6% | 88.9% |
The filings
These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.
- N-PX/A filed 31 Aug 2026 accession 0001193125-26-375076
- Every N-PX filing by this filer on EDGAR
Questions
How did UNDISCOVERED MANAGERS FUNDS vote on executive pay?
In the year to 30 June 2026 UNDISCOVERED MANAGERS FUNDS reported 96 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 91 were for (94.8%), 5 against and 0 abstentions. Counting one item per company meeting, it voted against management on 5 of the 93 say-on-pay items it marked either way.
How often does UNDISCOVERED MANAGERS FUNDS vote against management?
2.6% of the time in the year to 30 June 2026: 28 of the 1,062 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 UNDISCOVERED MANAGERS FUNDS support shareholder proposals on climate?
It reported no votes on security-holder proposals in the category ENVIRONMENT OR CLIMATE for the year to 30 June 2026. Across every category it voted for 88.9% of security-holder proposals.
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 this filer 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 by UNDISCOVERED MANAGERS FUNDS (filer no. 1047712), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.