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HEARTLAND GROUP INC
fund voting report
- Vote records reported
- 2,393year to 30 June 2026
- Against management
- 6.2%146 of 2,369 marked votes
- Say-on-pay support
- 93.4%for, of for + against + abstain
- Shareholder-proposal support
- 84.6%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
HEARTLAND GROUP INC reported 2,393 vote records for the year to 30 June 2026. It marked 6.2% of its votes as cast against management (146 of 2,369), close to the median fund registrant, which was 6.2%.
Weighted by the number of shares voted, the against-management share is 6.3%. 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 93.4% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 84.6% 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 (48.5% of 33), CORPORATE GOVERNANCE (38.5% of 52) and EXTRAORDINARY TRANSACTIONS (13.6% of 22).
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 | 6.2% | 6.2% | 10.6% |
| Say-on-pay support rate | 93.4% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 84.6% | 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 | 1,723 | 1,624 | 44 | 4.9% | |
| SECTION 14A SAY-ON-PAY VOTES | 225 | 198 | 14 | 7.2% | |
| AUDIT-RELATED | 224 | 222 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 34 | 28 | 6 | 48.5% | |
| EXTRAORDINARY TRANSACTIONS | 23 | 19 | 3 | 13.6% | |
| CAPITAL STRUCTURE | 30 | 30 | 0 | 0.0% | |
| COMPENSATION | 76 | 73 | 3 | 5.3% | |
| CORPORATE GOVERNANCE | 53 | 35 | 17 | 38.5% | |
| ENVIRONMENT OR CLIMATE | 3 | 2 | 1 | 66.7% | |
| OTHER SOCIAL ISSUES | 2 | 2 | 0 | 100.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 1,869 | 5.3% | 93.0% | 55.6% | |
| year to 30 June 2025 | 2,100 | 5.2% | 95.6% | 55.0% | |
| year to 30 June 2026 | 2,393 | 6.2% | 93.4% | 84.6% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, HEARTLAND GROUP INC voted against management on 13 of the 183 it marked either way (7.1%) in the year to 30 June 2026.
A further 2 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.
- The Hershey Company 5 May 2026
- Xcel Energy Inc. 20 May 2026
- Watsco, Inc. 1 Jun 2026
- Molina Healthcare, Inc. 6 May 2026
- Customers Bancorp, Inc. 26 May 2026
- Nicolet Bankshares, Inc. 18 May 2026
- Seaboard Corporation 20 Apr 2026
- Tiptree Inc. 28 Apr 2026
- MidWestOne Financial Group, Inc. 26 Jan 2026
- National Research Corporation 23 Jun 2026
- Alpine Income Property Trust, Inc. 21 May 2026
- Accuray Incorporated 13 Nov 2025
- First Internet Bancorp 18 May 2026
Shareholder proposals it supported
Of 24 proposals from security holders that could be told apart in the filings and on which it cast a vote, HEARTLAND GROUP INC voted for 20 (83.3%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Lam Research Corporation | 4 Nov 2025 | Stockholder proposal titled "Realistic Shareholder Ability to Call for a Special Shareholder Meeting," |
| PPG Industries, Inc. | 16 Apr 2026 | Shareholder proposal to adopt a policy requiring an independent board chair |
| Quest Diagnostics Incorporated | 20 May 2026 | Stockholder proposal regarding an independent board chairman |
| Keysight Technologies, Inc. | 19 Mar 2026 | Consider, on a non-binding advisory basis, a Stockholder Proposal: Shareholder Ability to Call for a... |
| Humana Inc. | 16 Apr 2026 | The stockholder proposal requesting shareholder approval requirement for excessive golden parachutes |
| FirstEnergy Corp. | 20 May 2026 | Independent Board Chairman |
| ON Semiconductor Corporation | 14 May 2026 | To vote on a stockholder proposal regarding simple majority voting |
| Tyler Technologies, Inc. | 5 May 2026 | Shareholder Proposal Regarding Political Spending. |
| BJ's Wholesale Club Holdings, Inc. | 18 Jun 2026 | Vote on a shareholder proposal regarding a report on greenhouse gas emissions reduction efforts |
| BJ's Wholesale Club Holdings, Inc. | 18 Jun 2026 | Vote on a shareholder proposal regarding adopting a majority voting standard |
| Henry Schein, Inc. | 21 May 2026 | Proposal to approve, by non-binding vote, a shareholder proposal to Govern by Majority Vote. |
| Qorvo, Inc. | 13 Aug 2025 | Reduce Ownership Threshold for Shareholders to Call Special Meeting |
| Murphy USA Inc. | 7 May 2026 | Stockholder Proposal - Give Shareholders the Ability to Call for a Special Shareholder Meeting. |
| Wyndham Hotels & Resorts, Inc. | 14 May 2026 | To vote on a stockholder proposal, if properly presented at the meeting, regarding stockholder ability to... |
| Mohawk Industries, Inc. | 21 May 2026 | Stockholder proposal regarding a majority vote standard. |
| Sonoco Products Company | 15 Apr 2026 | Advisory (non-binding) shareholder proposal - avoid brand damage from political spending. |
| MarketAxess Holdings Inc. | 10 Jun 2026 | If properly presented, a stockholder proposal regarding changes to existing stockholder special meeting right. |
| Columbia Sportswear Company | 10 Jun 2026 | Shareholder proposal regarding proxy access. |
| ArcBest Corporation | 24 Apr 2026 | A shareholder proposal to approve GHG emissions reduction targets |
| Papa John's International, Inc. | 30 Apr 2026 | Stockholder proposal regarding special meeting ownership threshold |
Shares on loan
HEARTLAND GROUP 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
3 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 |
|---|---|---|---|---|
| Heartland Value Fund | 1,040 | 7.0% | 90.3% | 100.0% |
| Heartland Mid Cap Value Fund | 749 | 6.8% | 93.4% | 78.6% |
| Heartland Value Plus Fund | 604 | 4.0% | 100.0% | 83.3% |
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 18 Aug 2026 accession 0001104659-26-098048
- Every N-PX filing by this filer on EDGAR
Questions
How did HEARTLAND GROUP INC vote on executive pay?
In the year to 30 June 2026 HEARTLAND GROUP INC reported 212 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 198 were for (93.4%), 14 against and 0 abstentions. Counting one item per company meeting, it voted against management on 13 of the 183 say-on-pay items it marked either way. A further 2 say-on-pay items were reported without a management mark and are not counted in that figure.
How often does HEARTLAND GROUP INC vote against management?
6.2% of the time in the year to 30 June 2026: 146 of the 2,369 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 HEARTLAND GROUP INC support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 3 votes on proposals from security holders in the year to 30 June 2026 and voted for 2 of them (66.7%). Across every category it voted for 84.6% 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 HEARTLAND GROUP INC (filer no. 809586), 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.