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NICHOLAS FUND, INC.
fund voting report
- Vote records reported
- 785year to 30 June 2026
- Against management
- 7.9%62 of 783 marked votes
- Say-on-pay support
- 84.3%for, of for + against + abstain
- Shareholder-proposal support
- 31.8%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
For the year to 30 June 2026, NICHOLAS FUND, INC. reported 785 vote records on Form N-PX. 62 of the 783 votes that were marked for or against management went against management: 7.9%, 1.7 percentage points above the median fund registrant (6.2%).
Weighted by the number of shares voted, the against-management share is 5.7%. 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 84.3% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 31.8% 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 (38.6% of 57), COMPENSATION (15.8% of 38) and SECTION 14A SAY-ON-PAY VOTES (15.1% of 53).
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 | 7.9% | 6.2% | 10.6% |
| Say-on-pay support rate | 84.3% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 31.8% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.00% | 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 | 508 | 489 | 7 | 3.7% | |
| SECTION 14A SAY-ON-PAY VOTES | 53 | 43 | 8 | 15.1% | |
| AUDIT-RELATED | 56 | 56 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 8 | 5 | 3 | 37.5% | |
| EXTRAORDINARY TRANSACTIONS | 1 | 0 | 1 | 0.0% | |
| CAPITAL STRUCTURE | 21 | 20 | 1 | 9.5% | |
| COMPENSATION | 38 | 30 | 8 | 15.8% | |
| CORPORATE GOVERNANCE | 58 | 45 | 13 | 38.6% | |
| ENVIRONMENT OR CLIMATE | 24 | 1 | 23 | 0.0% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 8 | 3 | 5 | 25.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 18 | 1 | 17 | 0.0% | |
| OTHER SOCIAL ISSUES | 36 | 4 | 32 | 5.6% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 885 | 6.9% | 90.7% | 37.0% | |
| year to 30 June 2025 | 820 | 4.6% | 87.0% | 20.0% | |
| year to 30 June 2026 | 785 | 7.9% | 84.3% | 31.8% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, NICHOLAS FUND, INC. voted against management on 8 of the 50 it marked either way (16.0%) in the year to 30 June 2026.
- Broadcom Inc. 20 Apr 2026
- Thermo Fisher Scientific Inc. 20 May 2026
- Adobe Inc. 15 Apr 2026
- Palo Alto Networks, Inc. 9 Dec 2025
- Snowflake Inc. 2 Jul 2025
- Snowflake Inc. 29 Jun 2026
- Aon Plc 26 Jun 2026
- Workday, Inc. 16 Jun 2026
Shareholder proposals it supported
Of 87 proposals from security holders that could be told apart in the filings and on which it cast a vote, NICHOLAS FUND, INC. voted for 27 (31.0%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Microsoft Corporation | 5 Dec 2025 | Report on Human Rights Due Diligence |
| Microsoft Corporation | 5 Dec 2025 | Report on Data Operations in Human Rights Hotspots |
| NVIDIA Corporation | 24 Jun 2026 | Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting... |
| Visa Inc. | 27 Jan 2026 | Shareholder proposal on shareholder right to act by written consent. |
| JPMorgan Chase & Co. | 19 May 2026 | Independent board chairman |
| Mastercard Incorporated | 16 Jun 2026 | Consideration of a stockholder proposal regarding shareholder right to act by written consent |
| Eli Lilly and Company | 4 May 2026 | Shareholder proposal to adopt a policy and amend the bylaws to require an independent board chair. |
| Netflix, Inc. | 4 Jun 2026 | Stockholder proposal entitled, "Proposal 4 - Shareholder Right to Act by Written Consent," |
| Advanced Micro Devices, Inc. | 13 May 2026 | Stockholder proposal requesting changes to the stockholder right to call a special meeting. |
| McDonald's Corporation | 20 May 2026 | Advisory Vote on Shareholders' Right to Act by Written Consent. |
| ServiceNow, Inc. | 21 May 2026 | Shareholder proposal regarding shareholder right to act by written consent. |
| Texas Instruments Incorporated | 16 Apr 2026 | Stockholder proposal to permit stockholders to act by written consent. |
| S&P Global Inc. | 20 May 2026 | Vote on a shareholder proposal to reduce the stock ownership threshold for calling a special shareholder... |
| Starbucks Corporation | 25 Mar 2026 | Shareholder proposal requesting supermajority shareholder voting requirements be replaced with majority... |
| Palo Alto Networks, Inc. | 9 Dec 2025 | To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding... |
| Lam Research Corporation | 4 Nov 2025 | Stockholder proposal titled "Realistic Shareholder Ability to Call for a Special Shareholder Meeting," |
| Boston Scientific Corporation | 30 Apr 2026 | Stockholder proposal titled "Give Shareholders the Ability to Call for a Special Shareholder Meeting." |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding annual vote regarding executive pay. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding disclosure of voting results by share class. |
| Meta Platforms, Inc. | 27 May 2026 | A shareholder proposal regarding dual class capital structure. |
| The Sherwin-Williams Company | 22 Apr 2026 | Shareholder Proposal Regarding Shareholder Ability to Call a Special Meeting |
| O'Reilly Automotive, Inc. | 14 May 2026 | Shareholder proposal entitled "Avoid Brand Damage due to Corporate Political Spending." |
| Synopsys, Inc. | 16 Apr 2026 | To vote on a stockholder proposal regarding 'stockholders' right to act by written consent |
| Snowflake Inc. | 29 Jun 2026 | To consider and vote on, if properly presented at the meeting, a non-binding stockholder proposal... |
| Cintas Corporation | 28 Oct 2025 | A shareholder proposal regarding support for shareholder ability to call for a special shareholder meeting. |
| Workday, Inc. | 16 Jun 2026 | To consider and vote upon a stockholder proposal regarding disclosure of voting results based on share class. |
| Zscaler, Inc. | 12 Jan 2026 | To vote on a non-binding stockholder proposal requesting the declassification of our board of directors. |
Shares on loan
NICHOLAS FUND, INC. 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
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 |
|---|---|---|---|---|
| Nicholas Fund Inc | 785 | 7.9% | 84.3% | 31.8% |
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.
- N-PX filed 24 Aug 2026 accession 0000071958-26-000007
- Every N-PX filing by this filer on EDGAR
Questions
How did NICHOLAS FUND, INC. vote on executive pay?
In the year to 30 June 2026 NICHOLAS FUND, INC. reported 51 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 43 were for (84.3%), 8 against and 0 abstentions. Counting one item per company meeting, it voted against management on 8 of the 50 say-on-pay items it marked either way.
How often does NICHOLAS FUND, INC. vote against management?
7.9% of the time in the year to 30 June 2026: 62 of the 783 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 NICHOLAS FUND, INC. support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 23 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 31.8% 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 NICHOLAS FUND, INC. (filer no. 71958), 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.