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Form N-PX · fund registrantSEC filer no. 4568

AMERICAN BALANCED FUND

fund voting report, part of Capital Group and American Funds

Vote records reported
2,518year to 30 June 2026
Against management
3.1%78 of 2,515 marked votes
Say-on-pay support
86.2%for, of for + against + abstain
Shareholder-proposal support
21.0%for, of for + against + abstain
93.0% for6.6% against0.4% other3.1% against management2,518 votes

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

AMERICAN BALANCED FUND reported 2,518 vote records for the year to 30 June 2026. It marked 3.1% of its votes as cast against management (78 of 2,515), 3.1 percentage points below the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 2.9%. 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 86.2% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 21.0% 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 (14.3% of 224), SECTION 14A SAY-ON-PAY VOTES (14.0% of 143) and CAPITAL STRUCTURE (4.8% of 125).

It reported 804.9 million shares out on loan at record dates, 4.16% 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 share3.1%6.2%10.6%
Say-on-pay support rate86.2%91.6%86.0%
Shareholder-proposal support rate21.0%27.5%33.9%
Shares on loan, share of shares held4.16%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 ELECTIONS1,6401,62690.9%
SECTION 14A SAY-ON-PAY VOTES1431191914.0%
AUDIT-RELATED18218200.0%
SHAREHOLDER RIGHTS AND DEFENSES95433.3%
EXTRAORDINARY TRANSACTIONS109110.0%
CAPITAL STRUCTURE12512234.8%
COMPENSATION11410773.5%
CORPORATE GOVERNANCE2261903614.3%
ENVIRONMENT OR CLIMATE513480.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE203170.0%
DIVERSITY, EQUITY, AND INCLUSION253220.0%
OTHER SOCIAL ISSUES688601.5%
OTHER42233.3%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 20242,9293.3%89.4%13.1%
year to 30 June 20252,8842.3%93.6%13.0%
year to 30 June 20262,5183.1%86.2%21.0%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, AMERICAN BALANCED FUND voted against management on 19 of the 137 it marked either way (13.9%) in the year to 30 June 2026.

Shareholder proposals it supported

Of 156 proposals from security holders that could be told apart in the filings and on which it cast a vote, AMERICAN BALANCED FUND voted for 33 (21.2%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
NVIDIA Corporation24 Jun 2026Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting...
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Visa Inc.27 Jan 2026Shareholder proposal on shareholder right to act by written consent.
Mastercard Incorporated16 Jun 2026Consideration of a stockholder proposal regarding shareholder right to act by written consent
Eli Lilly and Company4 May 2026Shareholder proposal to adopt a policy and amend the bylaws to require an independent 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,"
The Home Depot, Inc.21 May 2026Shareholder Proposal Regarding Independent 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
Wells Fargo & Company28 Apr 2026Shareholder Proposal - Govern by Majority Vote.
The Goldman Sachs Group, Inc.29 Apr 2026Shareholder Proposal Regarding Special Shareholder Meeting Thresholds
Morgan Stanley14 May 2026Shareholder proposal requesting an independent Board Chairman
Comcast Corporation10 Jun 2026Adopt policy to have an independent chair
Gilead Sciences, Inc.30 Apr 2026To vote on a stockholder proposal requesting an independent Board Chair policy
Deere & Company25 Feb 2026Shareholder proposal on shareholder right to act by written consent
Starbucks Corporation25 Mar 2026Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority...
THE BOEING COMPANY17 Apr 2026Action by Written Consent.
LOCKHEED MARTIN CORPORATION12 May 2026Stockholder Proposal Requiring Independent Board Chairman
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
CVS Health Corporation14 May 2026Stockholder Proposal for Reducing the Threshold for Our Stockholder Right to Act By Written Consent.
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.
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.
Target Corporation10 Jun 2026Require Independent Board Chair
The Cigna Group22 Apr 2026Shareholder Proposal - Shareholder Right to Act by Written Consent
Vertex Pharmaceuticals Incorporated13 May 2026Shareholder proposal, if properly presented at the meeting, regarding shareholder right to act by written...
AppLovin Corporation3 Jun 2026Stockholder proposal regarding disclosure of voting results by class of shares
SHOPIFY INC.16 Jun 2026Adopt a Policy on Responsible Use of Artificial Intelligence ("AI") in the Company's Business and Operations
Carvana Co.5 May 2026To vote upon one stockholder proposal, as described in the Proxy Statement.
Exxon Mobil Corporation27 May 2026Shareholder proposal: CORPORATE GOVERNANCE
Exxon Mobil Corporation27 May 2026Proposal requesting Company to modify its Voluntary Retail Voting Program to provide multiple options not...

Shares on loan

AMERICAN BALANCED FUND reported 804.9 million shares on loan at record dates against 18.53 billion shares voted: 4.16% 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 BALANCED FUND2,5183.1%86.1%21.0%

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 BALANCED FUND vote on executive pay?

In the year to 30 June 2026 AMERICAN BALANCED FUND reported 138 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 119 were for (86.2%), 19 against and 0 abstentions. Counting one item per company meeting, it voted against management on 19 of the 137 say-on-pay items it marked either way.

How often does AMERICAN BALANCED FUND vote against management?

3.1% of the time in the year to 30 June 2026: 78 of the 2,515 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 BALANCED FUND support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 48 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 21.0% 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 BALANCED FUND (filer no. 4568), 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.