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Form N-PX · fund registrantSEC filer no. 1420040

Dunham Funds

fund voting report

Vote records reported
11,941year to 30 June 2026
Against management
7.2%761 of 10,576 marked votes
Say-on-pay support
91.6%for, of for + against + abstain
Shareholder-proposal support
25.4%for, of for + against + abstain
81.0% for7.5% against11.5% other7.2% against management11,952 votes

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

Dunham Funds reported 11,941 vote records for the year to 30 June 2026. It marked 7.2% of its votes as cast against management (761 of 10,576), close to the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 8.5%. 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 91.6% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 25.4% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in COMPENSATION (13.4% of 1,045), HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE (11.4% of 35) and CORPORATE GOVERNANCE (8.9% of 2,481).

It reported 12.0 million shares out on loan at record dates, 1.15% 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 2026This filerMedian fund registrantAll filers pooled
Against-management share7.2%6.2%10.6%
Say-on-pay support rate91.6%91.6%86.0%
Shareholder-proposal support rate25.4%27.5%33.9%
Shares on loan, share of shares held1.15%0.00%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 ELECTIONS4,9844,4332015.1%
SECTION 14A SAY-ON-PAY VOTES283252238.5%
AUDIT-RELATED715616223.2%
SHAREHOLDER RIGHTS AND DEFENSES2112610.5%
EXTRAORDINARY TRANSACTIONS189165168.8%
CAPITAL STRUCTURE1,5101,276906.6%
COMPENSATION1,18591114113.4%
CORPORATE GOVERNANCE3,0522,2452708.9%
ENVIRONMENT OR CLIMATE10833583.3%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE4728711.4%
DIVERSITY, EQUITY, AND INCLUSION412450.0%
OTHER SOCIAL ISSUES14968537.5%
OTHER313105675.4%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 202410,4719.4%79.8%45.1%
year to 30 June 202512,5297.8%92.5%36.6%
year to 30 June 202611,9417.2%91.6%25.4%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, Dunham Funds voted against management on 14 of the 234 it marked either way (6.0%) in the year to 30 June 2026.

Shareholder proposals it supported

Of 112 proposals from security holders that could be told apart in the filings and on which it cast a vote, Dunham Funds voted for 28 (25.0%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
Microsoft Corporation5 Dec 2025Report on Human Rights Due Diligence
JPMorgan Chase & Co.19 May 2026Independent board chairman
AbbVie Inc.8 May 2026Stockholder Proposal - to Adopt a Policy to Require an Independent Chair
Bank of America Corporation4 May 2026Shareholder proposal requesting independent board chair
NextEra Energy, Inc.21 May 2026Report on Plans to Reduce and Align GHG Emissions with Paris Agreement Goals
Wells Fargo & Company28 Apr 2026Require Independent Board Chair
Wells Fargo & Company28 Apr 2026Shareholder Proposal - Govern by Majority Vote.
ConocoPhillips12 May 2026Stockholder Proposal - Independent Board Chairman.
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Lobbying Disclosure
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Special Shareholder Meeting Thresholds
Lowe's Companies, Inc.29 May 2026Shareholder Proposal requesting a report on risks of sharing customer data with third parties.
S&P Global Inc.20 May 2026Vote on a shareholder proposal to reduce the stock ownership threshold for calling a special shareholder...
THE BOEING COMPANY17 Apr 2026Action by Written Consent.
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
EXXON MOBIL CORPORATION27 May 2026Proposal requesting Company to modify its Voluntary Retail Voting Program to provide multiple options not...
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.
L3Harris Technologies, Inc.11 May 2026Shareholder Proposal titled "Improve Shareholder Ability to Call for a Special Shareholder Meeting".
Otis Worldwide Corporation27 May 2026Shareholder proposal regarding reporting on political contributions and expenditures
Prudential Financial, Inc.12 May 2026Shareholder proposal regarding an Independent Board Chairman.
Delta Air Lines, Inc.18 Jun 2026A shareholder proposal requesting the ability for shareholders to act by written consent.
The Hartford Insurance Group, Inc.20 May 2026Shareholder proposal that the Company adopt written consent rights for shareholders
ON Semiconductor Corporation14 May 2026To vote on a stockholder proposal regarding simple majority voting
The AES Corporation29 Apr 2026If properly presented, to vote on a non-binding stockholder proposal regarding stockholder ability to call...
Fox Corporation14 Nov 2025Simple Majority Vote.
Knight-Swift Transportation Holdings Inc.12 May 2026Vote on a stockholder proposal regarding support for transparency in political spending.
American Airlines Group Inc.10 Jun 2026Advisory vote on stockholder proposal for stockholder right to act by written consent

Shares on loan

Dunham Funds reported 12.0 million shares on loan at record dates against 1.03 billion shares voted: 1.15% 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

7 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
Dunham International Stock Fund8,0947.1%not reportednot reported
Dunham Emerging Markets Stock Fund1,13511.7%not reportednot reported
Dunham Large Cap Value Fund1,0415.5%87.3%27.3%
Dunham Small Cap Growth Fund8270.0%100.0%not reported
S00002097439716.7%93.9%not reported
Dunham Monthly Distribution Fund3438.3%84.6%50.0%
Dunham Focused Large Cap Growth Fund1041.0%100.0%6.7%

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.

Questions

How did Dunham Funds vote on executive pay?

In the year to 30 June 2026 Dunham Funds reported 275 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 252 were for (91.6%), 23 against and 0 abstentions. Counting one item per company meeting, it voted against management on 14 of the 234 say-on-pay items it marked either way.

How often does Dunham Funds vote against management?

7.2% of the time in the year to 30 June 2026: 761 of the 10,576 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 Dunham Funds support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 16 votes on proposals from security holders in the year to 30 June 2026 and voted for 1 of them (6.3%). Across every category it voted for 25.4% 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 Dunham Funds (filer no. 1420040), 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.