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THORNBURG INVESTMENT TRUST
fund voting report
- Vote records reported
- 6,674year to 30 June 2026
- Against management
- 6.6%432 of 6,498 marked votes
- Say-on-pay support
- 94.6%for, of for + against + abstain
- Shareholder-proposal support
- 28.2%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
THORNBURG INVESTMENT TRUST reported 6,674 vote records for the year to 30 June 2026. It marked 6.6% of its votes as cast against management (432 of 6,498), close to the median fund registrant, which was 6.2%.
Weighted by the number of shares voted, the against-management share is 1.5%. 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 94.6% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 28.2% of the proposals put forward by security holders (the median fund registrant: 27.5%).
By category, votes against management were most frequent in DIVERSITY, EQUITY, AND INCLUSION (85.0% of 40), ENVIRONMENT OR CLIMATE (81.6% of 76) and HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE (78.6% of 28).
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 | 6.6% | 6.2% | 10.6% |
| Say-on-pay support rate | 94.6% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 28.2% | 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 | 2,833 | 2,673 | 78 | 4.2% | |
| SECTION 14A SAY-ON-PAY VOTES | 278 | 244 | 14 | 5.0% | |
| AUDIT-RELATED | 437 | 415 | 21 | 1.7% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 21 | 16 | 5 | 28.6% | |
| EXTRAORDINARY TRANSACTIONS | 50 | 44 | 6 | 12.0% | |
| CAPITAL STRUCTURE | 930 | 895 | 35 | 4.4% | |
| COMPENSATION | 871 | 788 | 65 | 7.3% | |
| CORPORATE GOVERNANCE | 1,260 | 1,150 | 95 | 7.0% | |
| ENVIRONMENT OR CLIMATE | 76 | 7 | 11 | 81.6% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 28 | 6 | 1 | 78.6% | |
| DIVERSITY, EQUITY, AND INCLUSION | 40 | 6 | 1 | 85.0% | |
| OTHER SOCIAL ISSUES | 114 | 27 | 5 | 72.8% | |
| OTHER | 44 | 40 | 4 | 0.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 7,145 | 7.1% | 96.9% | 13.6% | |
| year to 30 June 2025 | 6,969 | 5.3% | 92.1% | 21.2% | |
| year to 30 June 2026 | 6,674 | 6.6% | 94.6% | 28.2% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, THORNBURG INVESTMENT TRUST voted against management on 5 of the 91 it marked either way (5.5%) in the year to 30 June 2026.
A further 6 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.
- Alphabet Inc. 5 Jun 2026
- Adobe Inc. 15 Apr 2026
- Arista Networks, Inc. 29 May 2026
- T-Mobile US, Inc. 16 Jun 2026
- SiTime Corporation 29 May 2026
Shareholder proposals it supported
Of 119 proposals from security holders that could be told apart in the filings and on which it cast a vote, THORNBURG INVESTMENT TRUST voted for 40 (33.6%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| NVIDIA Corporation | 24 Jun 2026 | Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting... |
| Alphabet Inc. | 5 Jun 2026 | Shareholder proposal regarding equal shareholder voting |
| Visa Inc. | 27 Jan 2026 | Shareholder proposal on shareholder right to act by written consent. |
| Mastercard Incorporated | 16 Jun 2026 | Consideration of a stockholder proposal regarding shareholder right to act by written consent |
| 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. |
| ServiceNow, Inc. | 21 May 2026 | Shareholder proposal regarding shareholder right to act by written consent. |
| 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. |
| Zoetis Inc. | 20 May 2026 | Shareholder proposal to permit shareholder action by written consent. |
| L3Harris Technologies, Inc. | 11 May 2026 | Shareholder Proposal titled "Improve Shareholder Ability to Call for a Special Shareholder Meeting". |
| Datadog, Inc. | 15 Jun 2026 | The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple... |
| Regions Financial Corporation | 6 May 2026 | Shareholder Proposal Relating to Special Shareholder Meeting. |
| DT Midstream, Inc. | 5 May 2026 | Stockholder Proposal on Shareholder Right to Act by Written Consent. |
| TransUnion | 12 May 2026 | Advisory vote on a stockholder proposal requesting a stockholder right to call a special meeting. |
| Contemporary Amperex Technology Co., Ltd. | 25 Dec 2025 | Shareholder proposal: CAPITAL STRUCTURE |
| Eni SpA | 6 May 2026 | Shareholder proposal: AUDIT-RELATED |
| Eni SpA | 6 May 2026 | Shareholder proposal: AUDIT-RELATED |
| Eni SpA | 6 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Eni SpA | 6 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| FinecoBank SpA | 29 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| FinecoBank SpA | 29 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Leonardo SpA | 7 May 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Leonardo SpA | 7 May 2026 | Fix Board Terms for Directors |
| Leonardo SpA | 7 May 2026 | Fix Number of Directors |
| Assicurazioni Generali SpA | 23 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Itau Unibanco Holding SA | 28 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Petroleo Brasileiro SA | 16 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Lottomatica Group SpA | 20 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Lottomatica Group SpA | 20 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Lottomatica Group SpA | 20 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Lottomatica Group SpA | 20 Apr 2026 | Fix Board Terms for Directors |
| Lottomatica Group SpA | 20 Apr 2026 | Fix Number of Directors |
| Brunello Cucinelli SpA | 23 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Brunello Cucinelli SpA | 23 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Brunello Cucinelli SpA | 23 Apr 2026 | Shareholder proposal: CORPORATE GOVERNANCE |
| Brunello Cucinelli SpA | 23 Apr 2026 | Fix Board Terms for Directors |
| Brunello Cucinelli SpA | 23 Apr 2026 | Fix Number of Directors |
| Brunello Cucinelli SpA | 23 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
Shares on loan
THORNBURG INVESTMENT 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
14 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 |
|---|---|---|---|---|
| Thornburg Investment Income Builder Fund | 1,176 | 2.5% | 100.0% | 29.6% |
| Thornburg Summit Fund | 898 | 9.9% | 96.2% | 16.7% |
| Thornburg International Equity Fund | 715 | 4.3% | not reported | 9.1% |
| Thornburg International Growth Fund | 691 | 5.1% | 75.0% | 84.2% |
| Thornburg Better World International Fund | 673 | 3.9% | not reported | 0.0% |
| Thornburg Global Opportunities Fund | 648 | 10.0% | 83.3% | 17.1% |
| Thornburg American Opportunities Fund | 535 | 5.0% | 100.0% | 33.3% |
| Thornburg Developing World Fund | 523 | 8.5% | not reported | not reported |
| Thornburg Focus Growth Fund | 490 | 14.4% | 91.2% | 24.1% |
| Thornburg Emerging Markets Managed Account Fund | 301 | 9.3% | not reported | not reported |
| Thornburg Strategic Income Fund | 12 | 0.0% | not reported | not reported |
| Thornburg Limited Term Income Fund | 4 | 0.0% | not reported | not reported |
| Thornburg Core Plus Bond Fund | 4 | 0.0% | not reported | not reported |
| Thornburg High Income Bond Managed Account Fund | 4 | 0.0% | not reported | not 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.
- N-PX filed 25 Aug 2026 accession 0001999371-26-018637
- Every N-PX filing by this filer on EDGAR
Questions
How did THORNBURG INVESTMENT TRUST vote on executive pay?
In the year to 30 June 2026 THORNBURG INVESTMENT TRUST reported 258 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 244 were for (94.6%), 14 against and 0 abstentions. Counting one item per company meeting, it voted against management on 5 of the 91 say-on-pay items it marked either way. A further 6 say-on-pay items were reported without a management mark and are not counted in that figure.
How often does THORNBURG INVESTMENT TRUST vote against management?
6.6% of the time in the year to 30 June 2026: 432 of the 6,498 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 THORNBURG INVESTMENT TRUST support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 52 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 28.2% 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 THORNBURG INVESTMENT TRUST (filer no. 816153), 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.