SCM Trust
fund voting report
- Vote records reported
- 3,737year to 30 June 2026
- Against management
- 6.1%222 of 3,648 marked votes
- Say-on-pay support
- 93.5%for, of for + against + abstain
- Shareholder-proposal support
- 41.1%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
SCM Trust reported 3,737 vote records for the year to 30 June 2026. It marked 6.1% of its votes as cast against management (222 of 3,648), close to the median fund registrant, which was 6.2%.
Weighted by the number of shares voted, the against-management share is 8.5%. 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 93.5% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 41.1% 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 (19.0% of 21), COMPENSATION (16.5% of 309) and CAPITAL STRUCTURE (9.2% of 360).
It reported 1.4 million shares out on loan at record dates, 0.57% 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 2026 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 6.1% | 6.2% | 10.6% |
| Say-on-pay support rate | 93.5% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 41.1% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.57% | 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 | 2,148 | 2,067 | 47 | 3.3% | |
| SECTION 14A SAY-ON-PAY VOTES | 125 | 115 | 8 | 6.4% | |
| AUDIT-RELATED | 245 | 231 | 14 | 5.8% | |
| INVESTMENT COMPANY MATTERS | 2 | 2 | 0 | 0.0% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 22 | 19 | 2 | 19.0% | |
| EXTRAORDINARY TRANSACTIONS | 22 | 21 | 1 | 4.5% | |
| CAPITAL STRUCTURE | 360 | 329 | 31 | 9.2% | |
| COMPENSATION | 311 | 254 | 56 | 16.5% | |
| CORPORATE GOVERNANCE | 483 | 442 | 38 | 8.7% | |
| ENVIRONMENT OR CLIMATE | 15 | 3 | 12 | 6.7% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 7 | 2 | 5 | 0.0% | |
| DIVERSITY, EQUITY, AND INCLUSION | 9 | 2 | 7 | 0.0% | |
| OTHER SOCIAL ISSUES | 36 | 19 | 17 | 8.3% | |
| OTHER | 18 | 9 | 9 | 0.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 3,876 | 8.7% | 92.6% | 53.1% | |
| year to 30 June 2025 | 3,909 | 7.0% | 91.6% | 46.9% | |
| year to 30 June 2026 | 3,737 | 6.1% | 93.5% | 41.1% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, SCM Trust voted against management on 8 of the 104 it marked either way (7.7%) in the year to 30 June 2026.
- Palo Alto Networks, Inc. 9 Dec 2025
- Arista Networks, Inc. 29 May 2026
- Global Payments Inc. 30 Apr 2026
- Lincoln National Corporation 28 May 2026
- Universal Display Corporation 18 Jun 2026
- The Boston Beer Company, Inc. 27 May 2026
- CVR Energy, Inc. 4 Jun 2026
- Ceva, Inc. 2 Jun 2026
Shareholder proposals it supported
Of 69 proposals from security holders that could be told apart in the filings and on which it cast a vote, SCM Trust voted for 29 (42.0%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| Visa Inc. | 27 Jan 2026 | Shareholder proposal on shareholder right to act by written consent. |
| JPMorgan Chase & Co. | 19 May 2026 | Independent board chairman |
| Bank of America Corporation | 4 May 2026 | Shareholder proposal requesting independent board chair |
| NextEra Energy, Inc. | 21 May 2026 | Report on Plans to Reduce and Align GHG Emissions with Paris Agreement Goals |
| ServiceNow, Inc. | 21 May 2026 | Shareholder proposal regarding shareholder right to act by written consent. |
| LOCKHEED MARTIN CORPORATION | 12 May 2026 | Stockholder Proposal Requiring Independent Board Chairman |
| Palo Alto Networks, Inc. | 9 Dec 2025 | To consider and vote upon a shareholder proposal, if properly presented at the Annual Meeting, regarding... |
| 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. |
| United Parcel Service, Inc. | 7 May 2026 | To take steps to reduce the voting power of UPS class A stock from 10 votes per share to one vote per share. |
| Dominion Energy, Inc. | 5 May 2026 | Shareholder Proposal Regarding a Policy for an Independent Chair |
| HCA Healthcare, Inc. | 23 Apr 2026 | Stockholder proposal, if properly presented at the meeting, regarding stockholders' right to act by... |
| eBay Inc. | 17 Jun 2026 | Special stockholder meeting threshold |
| The Hartford Insurance Group, Inc. | 20 May 2026 | Shareholder proposal that the Company adopt written consent rights for shareholders |
| CMS Energy Corporation | 8 May 2026 | Vote on a Shareholder Proposal: Shareholder Right to Act by Written Consent. |
| Steel Dynamics, Inc. | 6 May 2026 | Shareholder proposal - avoid political spending brand damage |
| CDW Corporation | 21 May 2026 | To consider and act upon the stockholder proposal, if properly presented at the meeting, regarding... |
| Global Payments Inc. | 30 Apr 2026 | Shareholder proposal regarding shareholder right to act by written consent. |
| The AES Corporation | 29 Apr 2026 | If properly presented, to vote on a non-binding stockholder proposal regarding stockholder ability to call... |
| Assurant, Inc. | 21 May 2026 | Stockholder proposal regarding action by written consent. |
| Lincoln National Corporation | 28 May 2026 | Require Independent Board Chair |
| MKS Instruments, Inc. | 11 May 2026 | A shareholder proposal to reduce the threshold percentage of shareholders required to call a special... |
| Knight-Swift Transportation Holdings Inc. | 12 May 2026 | Vote on a stockholder proposal regarding support for transparency in political spending. |
| Arrow Electronics, Inc. | 12 May 2026 | Shareholder proposal to provide shareholders with the ability to call a special shareholder meeting at a... |
| The Western Union Company | 14 May 2026 | Stockholder proposal regarding stockholder right to act by written consent |
| Huntsman Corporation | 29 Apr 2026 | Stockholder proposal requesting an independent board chair policy. |
| Itau Unibanco Holding SA | 28 Apr 2026 | Shareholder proposal: AUDIT-RELATED |
| Multiplan Empreendimentos Imobiliarios SA | 27 Mar 2026 | Shareholder proposal: AUDIT-RELATED |
Shares on loan
SCM Trust reported 1.4 million shares on loan at record dates against 243.7 million shares voted: 0.57% 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
10 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 |
|---|---|---|---|---|
| Shelton International Select Equity Fund | 1,347 | 6.4% | not reported | not reported |
| SHELTON EMERGING MARKETS FUND | 605 | 12.5% | not reported | 25.0% |
| ICON Natural Resources and Infrastructure Fund | 320 | 4.4% | 95.8% | 40.0% |
| ICON Equity Income Fund | 318 | 1.6% | 100.0% | 66.7% |
| ICON Equity Fund | 313 | 3.2% | 86.4% | 40.0% |
| ICON Health and Information Technology Fund | 274 | 8.8% | 84.2% | 41.7% |
| ICON Utilities and Income Fund | 257 | 0.8% | 100.0% | not reported |
| ICON Consumer Select Fund | 243 | 5.3% | 93.3% | 44.4% |
| ICON Flexible Bond Fund | 50 | 0.0% | not reported | not reported |
| SHELTON TACTICAL CREDIT FUND | 10 | 20.0% | 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 28 Aug 2026 accession 0001999371-26-019236
- Every N-PX filing by this filer on EDGAR
Questions
How did SCM Trust vote on executive pay?
In the year to 30 June 2026 SCM Trust reported 123 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 115 were for (93.5%), 8 against and 0 abstentions. Counting one item per company meeting, it voted against management on 8 of the 104 say-on-pay items it marked either way.
How often does SCM Trust vote against management?
6.1% of the time in the year to 30 June 2026: 222 of the 3,648 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 SCM Trust support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 13 votes on proposals from security holders in the year to 30 June 2026 and voted for 1 of them (7.7%). Across every category it voted for 41.1% 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 SCM Trust (filer no. 836267), 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.