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STATE STREET MASTER FUNDS
fund voting report, part of State Street and SPDR
- Vote records reported
- 11,499year to 30 June 2026
- Against management
- 7.6%846 of 11,162 marked votes
- Say-on-pay support
- not reportedfor, of for + against + abstain
- Shareholder-proposal support
- 27.3%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
For the year to 30 June 2026, STATE STREET MASTER FUNDS reported 11,499 vote records on Form N-PX. 846 of the 11,162 votes that were marked for or against management went against management: 7.6%, 1.4 percentage points above the median fund registrant (6.2%).
Weighted by the number of shares voted, the against-management share is 5.3%. 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 27.3% of the proposals put forward by security holders (the median fund registrant: 27.5%).
By category, votes against management were most frequent in DIRECTOR ELECTIONS (10.7% of 4,694), COMPENSATION (8.2% of 1,698) and CORPORATE GOVERNANCE (5.5% of 2,692).
It reported 283.6 million shares out on loan at record dates, 9.21% 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 | 7.6% | 6.2% | 10.6% |
| Say-on-pay support rate | not reported | 91.6% | 86.0% |
| Shareholder-proposal support rate | 27.3% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 9.21% | 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 | 4,734 | 4,197 | 522 | 10.7% | |
| SECTION 14A SAY-ON-PAY VOTES | 2 | 2 | 0 | 0.0% | |
| AUDIT-RELATED | 659 | 632 | 27 | 2.2% | |
| INVESTMENT COMPANY MATTERS | 1 | 1 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 18 | 14 | 4 | 22.2% | |
| EXTRAORDINARY TRANSACTIONS | 62 | 61 | 1 | 1.6% | |
| CAPITAL STRUCTURE | 1,604 | 1,547 | 57 | 3.2% | |
| COMPENSATION | 1,723 | 1,567 | 154 | 8.2% | |
| CORPORATE GOVERNANCE | 2,763 | 2,527 | 235 | 5.5% | |
| ENVIRONMENT OR CLIMATE | 104 | 66 | 38 | 0.0% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 61 | 54 | 7 | 0.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 56 | 54 | 2 | 0.0% | |
| OTHER SOCIAL ISSUES | 122 | 109 | 13 | 0.0% | |
| OTHER | 84 | 29 | 55 | 0.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 12,798 | 8.3% | not reported | 22.5% | |
| year to 30 June 2025 | 12,117 | 7.4% | not reported | 20.0% | |
| year to 30 June 2026 | 11,499 | 7.6% | not reported | 27.3% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, STATE STREET MASTER FUNDS voted against management on 0 of the 2 it marked either way (0.0%) in the year to 30 June 2026.
Shareholder proposals it supported
Of 168 proposals from security holders that could be told apart in the filings and on which it cast a vote, STATE STREET MASTER FUNDS voted for 40 (23.8%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Eni SpA | 6 May 2026 | Shareholder proposal: AUDIT-RELATED |
| Eni SpA | 6 May 2026 | Shareholder proposal: AUDIT-RELATED |
| Eni SpA | 6 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Eni SpA | 6 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| FinecoBank SpA | 29 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| FinecoBank SpA | 29 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Leonardo SpA | 7 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Leonardo SpA | 7 May 2026 | Fix Board Terms for Directors |
| Leonardo SpA | 7 May 2026 | Fix Number of Directors |
| Galp Energia SGPS SA | 8 May 2026 | Appraise Management and Supervision of Company and Approve Vote of Confidence to Corporate Bodies |
| Moncler SpA | 21 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Moncler SpA | 21 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Moncler SpA | 21 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Assicurazioni Generali SpA | 23 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| EDP SA | 16 Apr 2026 | Appraise Management of Company and Approve Vote of Confidence to Executive Board |
| EDP SA | 16 Apr 2026 | Appraise Supervision of Company and Approve Vote of Confidence to Supervisory Board |
| EDP SA | 16 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Banca Monte dei Paschi di Siena SpA | 15 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Banco BPM SpA | 16 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Poste Italiane SpA | 27 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| The Kansai Electric Power Co., Inc. | 25 Jun 2026 | Amend Articles to Require Individual Compensation Disclosure for Executive Officers |
| Jeronimo Martins SGPS SA | 23 Apr 2026 | Appraise Management and Supervision of Company and Approve Vote of Confidence to Corporate Bodies |
| Recordati SpA | 29 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Recordati SpA | 29 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Recordati SpA | 29 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| TERNA Rete Elettrica Nazionale SpA | 12 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| TERNA Rete Elettrica Nazionale SpA | 12 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| TERNA Rete Elettrica Nazionale SpA | 12 May 2026 | Fix Board Terms for Directors |
| TERNA Rete Elettrica Nazionale SpA | 12 May 2026 | Fix Number of Directors |
| TERNA Rete Elettrica Nazionale SpA | 12 May 2026 | Shareholder proposal: AUDIT-RELATED |
| Buzzi SpA | 13 May 2026 | Shareholder proposal: AUDIT-RELATED |
| Buzzi SpA | 13 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Buzzi SpA | 13 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Buzzi SpA | 13 May 2026 | Fix Board Terms for Directors |
| Buzzi SpA | 13 May 2026 | Fix Number of Directors |
| Gjensidige Forsikring ASA | 26 Mar 2026 | Amend Articles: Board Related |
| Banco Comercial Portugues SA | 7 May 2026 | Appraise Management and Supervision of Company and Approve Vote of Confidence to Corporate Bodies |
| Banco Comercial Portugues SA | 7 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| EDP Renovaveis SA | 13 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| The Swatch Group AG | 12 May 2026 | Amend Articles Re: Hybrid General Meeting |
Shares on loan
STATE STREET MASTER FUNDS reported 283.6 million shares on loan at record dates against 2.79 billion shares voted: 9.21% 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 |
|---|---|---|---|---|
| State Street International Developed Equity Index Portfolio | 11,499 | 7.6% | not reported | 23.3% |
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 filed 14 Aug 2026 accession 0001193125-26-351546
- Every N-PX filing by this filer on EDGAR
Questions
How did STATE STREET MASTER FUNDS vote on executive pay?
In the year to 30 June 2026 STATE STREET MASTER FUNDS reported 2 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 2 were for (100.0%), 0 against and 0 abstentions. Counting one item per company meeting, it voted against management on 0 of the 2 say-on-pay items it marked either way.
How often does STATE STREET MASTER FUNDS vote against management?
7.6% of the time in the year to 30 June 2026: 846 of the 11,162 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 STATE STREET MASTER FUNDS support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 38 votes on proposals from security holders in the year to 30 June 2026 and voted for 0 of them (0.0%). Across every category it voted for 27.3% 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 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 STATE STREET MASTER FUNDS (filer no. 1094885), 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.