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Form N-PX · fund registrantSEC filer no. 1969674

2023 ETF Series Trust

fund voting report

Vote records reported
7,152year to 30 June 2026
Against management
12.3%860 of 6,983 marked votes
Say-on-pay support
80.7%for, of for + against + abstain
Shareholder-proposal support
53.2%for, of for + against + abstain
86.3% for11.0% against2.6% other12.3% against management7,095 votes

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

For the year to 30 June 2026, 2023 ETF Series Trust reported 7,152 vote records on Form N-PX. 860 of the 6,983 votes that were marked for or against management went against management: 12.3%, 6.1 percentage points above the median fund registrant (6.2%).

Weighted by the number of shares voted, the against-management share is 12.6%. 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 80.7% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 53.2% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in SHAREHOLDER RIGHTS AND DEFENSES (46.7% of 45), HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE (46.7% of 30) and ENVIRONMENT OR CLIMATE (31.5% of 73).

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 share12.3%6.2%10.6%
Say-on-pay support rate80.7%91.6%86.0%
Shareholder-proposal support rate53.2%27.5%33.9%
Shares on loan, share of shares held0.00%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%

Of the 7,152 vote records in this filing, 801 carry something the form does not expect: a missing vote source or category, a record with no vote line, a meeting date that cannot be read, or a security identifier this site could not use. They are counted as filed. What is checked

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 ELECTIONS4,1763,67935810.7%
SECTION 14A SAY-ON-PAY VOTES4333348119.2%
AUDIT-RELATED449436122.2%
SHAREHOLDER RIGHTS AND DEFENSES47351046.7%
EXTRAORDINARY TRANSACTIONS3025516.7%
CAPITAL STRUCTURE4053436110.9%
COMPENSATION4884077614.8%
CORPORATE GOVERNANCE90278110016.2%
ENVIRONMENT OR CLIMATE73254831.5%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE30171346.7%
DIVERSITY, EQUITY, AND INCLUSION35122317.1%
OTHER SOCIAL ISSUES84364828.6%
OTHER12611860.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 20242,26816.9%69.5%21.8%
year to 30 June 20253,20217.2%74.2%29.6%
year to 30 June 20267,15212.3%80.7%53.2%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, 2023 ETF Series Trust voted against management on 63 of the 336 it marked either way (18.8%) in the year to 30 June 2026. The 40 companies with the most reporting filers are listed.

A further 3 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 186 proposals from security holders that could be told apart in the filings and on which it cast a vote, 2023 ETF Series Trust voted for 92 (49.5%). 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
Amazon.com, Inc.20 May 2026Shareholder proposal requesting a mandatory independent board chair policy
Amazon.com, Inc.20 May 2026Shareholder proposal requesting additional reporting on impact of data centers on climate commitments
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting reporting on greenhouse gas emissions from the...
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
JPMorgan Chase & Co.19 May 2026Independent board chairman
Johnson & Johnson23 Apr 2026Independent Board Chair
AbbVie Inc.8 May 2026Stockholder Proposal - to Adopt a Policy to Require an Independent Chair
Netflix, Inc.4 Jun 2026Stockholder proposal entitled, "Proposal 4 - Shareholder Right to Act by Written Consent,"
CHEVRON CORPORATION27 May 2026Adopt an Independent Chair
Walmart Inc.4 Jun 2026Report on Workplace Health and Safety Governance
Walmart Inc.4 Jun 2026Human rights or human capital/workforce
Berkshire Hathaway Inc.2 May 2026Shareholder proposal requesting that the Company issue a report disclosing the Board's oversight framework...
UnitedHealth Group Incorporated1 Jun 2026If properly presented at the 2026 Annual Meeting of Shareholders, the shareholder proposal requesting the...
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report on risks related to ingredients
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report on the extent of the Company's diversity, equity and...
The Coca-Cola Company29 Apr 2026Vote on a shareowner proposal requesting a report on the Company's plans to increase sustainability disclosure
GE Aerospace5 May 2026Shareholder Proposal Requesting Report on Defense-Related Products
McDonald's Corporation20 May 2026Advisory Vote to Adopt Policy for an Independent Chair.
McDonald's Corporation20 May 2026Advisory Vote on Shareholders' Right to Act by Written Consent.
Verizon Communications Inc.21 May 2026Board oversight of material issues related to climate change
Verizon Communications Inc.21 May 2026Independent board chair
International Business Machines Corporation28 Apr 2026Stockholder Proposal Requesting a Right to Act by Written Consent
CATERPILLAR INC.10 Jun 2026Shareholder Proposal - Shareholder Right to Act by Written Consent
Pfizer Inc.23 Apr 2026Adopt an Independent Chair Policy
AT&T INC.14 May 2026EEO-1 Report Disclosure Policy
AT&T INC.14 May 2026Shareholder Right to Act by Written Consent
Amgen Inc.19 May 2026Stockholder proposal to require an independent board chairman.
Bristol-Myers Squibb Company5 May 2026Require Independent Board Chair
Philip Morris International Inc.6 May 2026Shareholder Proposal to issue a report on filter cleanup costs and extended producer responsibility laws...
Morgan Stanley14 May 2026Shareholder proposal requesting an independent Board Chairman
Lowe's Companies, Inc.29 May 2026Shareholder Proposal requesting a report on risks of sharing customer data with third parties.
Intel Corporation13 May 2026Oversee Independent Review and Report on Human Rights Due Diligence Process
Intel Corporation13 May 2026Stockholder proposal requesting an enduring policy separating the Chair and CEO roles.
Comcast Corporation10 Jun 2026Adopt policy to have an independent chair
PALANTIR TECHNOLOGIES INC.3 Jun 2026Stockholder proposal entitled "Human Rights Impact Assessment,"
PALANTIR TECHNOLOGIES INC.3 Jun 2026Stockholder proposal entitled "Independent Report on Due Diligence Process,"
PALANTIR TECHNOLOGIES INC.3 Jun 2026Stockholder proposal entitled "Political Spending Disclosure,"
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
Analog Devices, Inc.11 Mar 2026To consider a shareholder proposal
Booking Holdings Inc.2 Jun 2026Non-binding stockholder vote on a proposal to avoid brand damage due to corporate political spending.

Shares on loan

2023 ETF Series Trust reported no shares on loan for the year to 30 June 2026. 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

8 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
C0002714451,60212.5%86.2%66.1%
Brandes International ETF1,02524.3%not reported92.3%
Brandes U.S. Value ETF87615.3%60.0%45.2%
C0002637487936.4%87.5%56.3%
Pacific NoS Global EM Equity Active ETF7300.0%not reportednot reported
Brandes U.S. Small-Mid Cap Value ETF70420.3%63.9%81.3%
Harrison Street Infrastructure Active ETF4994.6%100.0%0.0%
C0002637513549.3%not reportednot reported

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 2023 ETF Series Trust vote on executive pay?

In the year to 30 June 2026 2023 ETF Series Trust reported 414 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 334 were for (80.7%), 80 against and 0 abstentions. Counting one item per company meeting, it voted against management on 63 of the 336 say-on-pay items it marked either way. A further 3 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does 2023 ETF Series Trust vote against management?

12.3% of the time in the year to 30 June 2026: 860 of the 6,983 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 2023 ETF Series Trust support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 63 votes on proposals from security holders in the year to 30 June 2026 and voted for 15 of them (23.8%). Across every category it voted for 53.2% 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 2023 ETF Series Trust (filer no. 1969674), 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.