Home / Filers / BRANDES INVESTMENT TRUST
BRANDES INVESTMENT TRUST
fund voting report
- Vote records reported
- 216year to 30 June 2025
- Against management
- 17.1%37 of 216 marked votes
- Say-on-pay support
- not reportedfor, of for + against + abstain
- Shareholder-proposal support
- not reportedtoo few votes to show
foragainstabstain, withhold or otheramber tick: the portion cast against management
In its Form N-PX for the year to 30 June 2025, BRANDES INVESTMENT TRUST listed 216 vote records. Votes against management made up 17.1% of those marked either way (37 of 216); the median fund registrant stood at 6.1%.
Weighted by the number of shares voted, the against-management share is 21.5%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.
By category, votes against management were most frequent in CAPITAL STRUCTURE (31.3% of 48) and DIRECTOR ELECTIONS (11.4% of 105).
Compared with other filers
Each rate is defined once, in the methodology. The median is taken over 1,260 fund registrants with at least 25 vote records in the season.
| year to 30 June 2025 | This filer | Median fund registrant | All filers pooled |
|---|---|---|---|
| Against-management share | 17.1% | 6.1% | 9.7% |
| Say-on-pay support rate | not reported | 91.3% | 84.3% |
| Shareholder-proposal support rate | not reported | 23.5% | 33.0% |
| Shares on loan, share of shares held | 0.00% | 0.00% | 2.20% |
| 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 | 105 | 93 | 12 | 11.4% | |
| SECTION 14A SAY-ON-PAY VOTES | 4 | 3 | 1 | 25.0% | |
| AUDIT-RELATED | 18 | 18 | 0 | 0.0% | |
| CAPITAL STRUCTURE | 48 | 33 | 15 | 31.3% | |
| COMPENSATION | 16 | 16 | 0 | 0.0% | |
| CORPORATE GOVERNANCE | 18 | 10 | 8 | 50.0% | |
| OTHER SOCIAL ISSUES | 7 | 6 | 1 | 0.0% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 4,630 | 20.2% | 61.6% | 22.1% | |
| year to 30 June 2025 | 216 | 17.1% | not reported | not reported |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, BRANDES INVESTMENT TRUST voted against management on 1 of the 3 it marked either way (33.3%) in the year to 30 June 2025.
- McKesson Corporation 31 Jul 2024
Shareholder proposals it supported
Of 2 proposals from security holders that could be told apart in the filings and on which it cast a vote, BRANDES INVESTMENT TRUST voted for 1 (50.0%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| McKesson Corporation | 31 Jul 2024 | Shareholder Proposal on Independent Board Chairman |
Shares on loan
BRANDES INVESTMENT TRUST reported no shares on loan for the year to 30 June 2025. 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
5 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 |
|---|---|---|---|---|
| Brandes International Small Cap Equity Fund | 91 | 8.8% | not reported | not reported |
| Brandes International Equity Fund | 42 | 14.3% | not reported | not reported |
| Brandes Emerging Markets Value Fund | 35 | 40.0% | not reported | not reported |
| Brandes Global Equity Fund | 27 | 29.6% | not reported | not reported |
| Brandes Small Cap Value Fund | 21 | 4.8% | 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 2025 accession 0001398344-25-017066
- Every N-PX filing by this filer on EDGAR
Questions
How did BRANDES INVESTMENT TRUST vote on executive pay?
In the year to 30 June 2025 BRANDES INVESTMENT TRUST reported 4 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 3 were for (75.0%), 1 against and 0 abstentions. Counting one item per company meeting, it voted against management on 1 of the 3 say-on-pay items it marked either way.
How often does BRANDES INVESTMENT TRUST vote against management?
17.1% of the time in the year to 30 June 2025: 37 of the 216 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 BRANDES INVESTMENT TRUST support shareholder proposals on climate?
It reported no votes on security-holder proposals in the category ENVIRONMENT OR CLIMATE for the year to 30 June 2025.
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 30 Sep 2026.
Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by BRANDES INVESTMENT TRUST (filer no. 926678), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 30 Sep 2026; page built 1 Oct 2026.