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Home / Capital Group and American Funds / American Funds U.S. Small & Mid Cap Equity Fund

Form N-PX · fund registrantSEC filer no. 2026099

American Funds U.S. Small & Mid Cap Equity Fund

fund voting report, part of Capital Group and American Funds

Vote records reported
1,691year to 30 June 2026
Against management
4.6%78 of 1,691 marked votes
Say-on-pay support
77.2%for, of for + against + abstain
Shareholder-proposal support
43.8%for, of for + against + abstain
94.4% for4.7% against0.9% other4.6% against management1,691 votes

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

American Funds U.S. Small & Mid Cap Equity Fund reported 1,691 vote records for the year to 30 June 2026. It marked 4.6% of its votes as cast against management (78 of 1,691), 1.6 percentage points below the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 3.0%. 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 77.2% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 43.8% 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 (22.4% of 76), SECTION 14A SAY-ON-PAY VOTES (21.5% of 172) and COMPENSATION (18.2% of 44).

It reported 55,728 shares out on loan at record dates, 0.41% 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 share4.6%6.2%10.6%
Say-on-pay support rate77.2%91.6%86.0%
Shareholder-proposal support rate43.8%27.5%33.9%
Shares on loan, share of shares held0.41%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 ELECTIONS1,2091,20440.4%
SECTION 14A SAY-ON-PAY VOTES1721223621.5%
AUDIT-RELATED16716700.0%
SHAREHOLDER RIGHTS AND DEFENSES77014.3%
EXTRAORDINARY TRANSACTIONS75228.6%
CAPITAL STRUCTURE178958.8%
COMPENSATION4436818.2%
CORPORATE GOVERNANCE76591722.4%
ENVIRONMENT OR CLIMATE6060.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE2020.0%
DIVERSITY, EQUITY, AND INCLUSION1010.0%
OTHER SOCIAL ISSUES52340.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 20251,2603.2%79.6%39.4%
year to 30 June 20261,6914.6%77.2%43.8%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, American Funds U.S. Small & Mid Cap Equity Fund voted against management on 36 of the 156 it marked either way (23.1%) in the year to 30 June 2026.

Shareholder proposals it supported

Of 32 proposals from security holders that could be told apart in the filings and on which it cast a vote, American Funds U.S. Small & Mid Cap Equity Fund voted for 14 (43.8%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
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.
Snowflake Inc.29 Jun 2026To consider and vote on, if properly presented at the meeting, a non-binding stockholder proposal...
Yum! Brands, Inc.14 May 2026Shareholder Proposal to Reduce the Percentage of Shares Required to Call a Special Meeting.
IDEXX Laboratories, Inc.12 May 2026Shareholder Proposal to Give Shareholders the Ability to Call for a Special Shareholder Meeting (Proposal...
Datadog, Inc.15 Jun 2026The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple...
Keysight Technologies, Inc.19 Mar 2026Consider, on a non-binding advisory basis, a Stockholder Proposal: Shareholder Ability to Call for a...
IQVIA Holdings Inc.23 Apr 2026If properly presented, a stockholder proposal concerning separate Chairman and Chief Executive Officer roles.
Charter Communications, Inc.21 Apr 2026Stockholder proposal regarding political expenditures report.
Humana Inc.16 Apr 2026The stockholder proposal requesting shareholder approval requirement for excessive golden parachutes
Akamai Technologies, Inc.13 May 2026To vote upon a shareholder proposal requiring the Company to provide a report on political spending.
Campbell Soup Company18 Nov 2025To vote on a shareholder proposal regarding simple majority voting.
Five Below, Inc.16 Jun 2026Shareholder proposal requesting that provisions in the Company's governance documents requiring greater...
Ally Financial Inc.6 May 2026Shareholder Proposal to Reduce Threshold for Shareholders to Call Special Meetings.
AGCO Corporation23 Apr 2026Stockholder proposal regarding giving stockholders an ability to call for a special stockholder meeting

Shares on loan

American Funds U.S. Small & Mid Cap Equity Fund reported 55,728 shares on loan at record dates against 13.6 million shares voted: 0.41% 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.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
American Funds U.S. Small & Mid Cap Equity Fund1,6914.6%76.9%43.8%

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 American Funds U.S. Small & Mid Cap Equity Fund vote on executive pay?

In the year to 30 June 2026 American Funds U.S. Small & Mid Cap Equity Fund reported 158 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 122 were for (77.2%), 36 against and 0 abstentions. Counting one item per company meeting, it voted against management on 36 of the 156 say-on-pay items it marked either way.

How often does American Funds U.S. Small & Mid Cap Equity Fund vote against management?

4.6% of the time in the year to 30 June 2026: 78 of the 1,691 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 American Funds U.S. Small & Mid Cap Equity Fund support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 6 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 43.8% 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 American Funds U.S. Small & Mid Cap Equity Fund (filer no. 2026099), 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.