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VANGUARD HORIZON FUNDS
fund voting report, part of Vanguard
- Vote records reported
- 19,732year to 30 June 2026
- Against management
- 2.0%391 of 19,402 marked votes
- Say-on-pay support
- 97.7%for, of for + against + abstain
- Shareholder-proposal support
- 13.5%for, of for + against + abstain
foragainstabstain, withhold or otheramber tick: the portion cast against management
VANGUARD HORIZON FUNDS reported 19,732 vote records for the year to 30 June 2026. It marked 2.0% of its votes as cast against management (391 of 19,402), 4.2 percentage points below the median fund registrant, which was 6.2%.
Weighted by the number of shares voted, the against-management share is 8.1%. 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 97.7% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 13.5% 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 (18.4% of 114), ENVIRONMENT OR CLIMATE (6.1% of 66) and CORPORATE GOVERNANCE (4.6% of 1,138).
It reported 110.6 million shares out on loan at record dates, 0.49% 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 | 2.0% | 6.2% | 10.6% |
| Say-on-pay support rate | 97.7% | 91.6% | 86.0% |
| Shareholder-proposal support rate | 13.5% | 27.5% | 33.9% |
| Shares on loan, share of shares held | 0.49% | 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 | 11,487 | 11,220 | 109 | 1.6% | |
| SECTION 14A SAY-ON-PAY VOTES | 3,150 | 2,866 | 70 | 2.1% | |
| AUDIT-RELATED | 1,691 | 1,670 | 15 | 0.9% | |
| SHAREHOLDER RIGHTS AND DEFENSES | 116 | 73 | 42 | 18.4% | |
| EXTRAORDINARY TRANSACTIONS | 88 | 85 | 3 | 1.1% | |
| CAPITAL STRUCTURE | 745 | 719 | 19 | 2.4% | |
| COMPENSATION | 921 | 857 | 43 | 3.2% | |
| CORPORATE GOVERNANCE | 1,186 | 997 | 135 | 4.6% | |
| ENVIRONMENT OR CLIMATE | 67 | 9 | 58 | 6.1% | |
| HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE | 32 | 4 | 28 | 3.1% | |
| DIVERSITY, EQUITY, AND INCLUSION | 28 | 4 | 24 | 3.6% | |
| OTHER SOCIAL ISSUES | 88 | 26 | 62 | 3.4% | |
| OTHER | 49 | 46 | 3 | 4.3% |
By season
| Season | Vote records | Against management | Say-on-pay support | Shareholder-proposal support | Split |
|---|---|---|---|---|---|
| year to 30 June 2024 | 17,460 | 2.7% | 96.9% | 13.7% | |
| year to 30 June 2025 | 18,019 | 2.1% | 95.9% | 14.9% | |
| year to 30 June 2026 | 19,732 | 2.0% | 97.7% | 13.5% |
Say-on-pay votes against management
Counting one say-on-pay item per company meeting, VANGUARD HORIZON FUNDS voted against management on 18 of the 997 it marked either way (1.8%) in the year to 30 June 2026.
- Broadcom Inc. 20 Apr 2026
- Palo Alto Networks, Inc. 9 Dec 2025
- Welltower Inc. 21 May 2026
- SHOPIFY INC. 16 Jun 2026
- The Trade Desk, Inc. 4 May 2026
- Roblox Corporation 28 May 2026
- BellRing Brands, Inc. 28 Jan 2026
- Arrowhead Pharmaceuticals, Inc. 19 Mar 2026
- TeraWulf Inc. 9 Jun 2026
- Capri Holdings Limited 7 Aug 2025
- Hut 8 Corp. 11 Jun 2026
- Opendoor Technologies Inc. 11 Jun 2026
- Freshworks Inc. 28 May 2026
- Bumble Inc. 4 Jun 2026
- Wolfspeed, Inc. 16 Dec 2025
- Prosus NV 20 Aug 2025
- Ribbon Communications Inc. 3 Jun 2026
- GoodRx Holdings, Inc. 16 Jun 2026
Shareholder proposals it supported
Of 259 proposals from security holders that could be told apart in the filings and on which it cast a vote, VANGUARD HORIZON FUNDS voted for 26 (10.0%). Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.
| Company | Meeting | Proposal |
|---|---|---|
| NVIDIA Corporation | 24 Jun 2026 | Approval of a non-binding stockholder proposal requesting the replacement of supermajority voting... |
| THE BOEING COMPANY | 17 Apr 2026 | Action by Written Consent. |
| 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 disclosure of voting results by share class. |
| Vertex Pharmaceuticals Incorporated | 13 May 2026 | Shareholder proposal, if properly presented at the meeting, regarding shareholder right to act by written... |
| PayPal Holdings, Inc. | 19 May 2026 | Stockholder Proposal - Reduce Threshold to Call Special Meetings of Stockholders. |
| FedEx Corporation | 29 Sep 2025 | Stockholder proposal regarding independent board chairman. |
| AppLovin Corporation | 3 Jun 2026 | Stockholder proposal regarding disclosure of voting results by class of shares |
| CBRE Group, Inc. | 21 May 2026 | Stockholder proposal regarding our stockholders' ability to call special stockholder meetings. |
| Datadog, Inc. | 15 Jun 2026 | The stockholder proposal, if properly presented at the Annual Meeting, requesting the adoption of a simple... |
| NRG Energy, Inc. | 30 Apr 2026 | To vote on a stockholder proposal to give shareholders the ability to call for a special shareholder meeting |
| SHOPIFY INC. | 16 Jun 2026 | Shareholder Proposal Vote on the shareholder proposal, as disclosed in the Management Information Circular... |
| ON Semiconductor Corporation | 14 May 2026 | To vote on a stockholder proposal regarding simple majority voting |
| Zscaler, Inc. | 12 Jan 2026 | To vote on a non-binding stockholder proposal requesting the declassification of our board of directors. |
| Markel Group Inc. | 20 May 2026 | Shareholder proposal to give shareholders an ability to call for a special shareholder meeting. |
| HubSpot, Inc. | 15 Jun 2026 | A stockholder proposal to change the Company's Sixth Amended and Restated Bylaws to allow 10% holders of... |
| Norwegian Cruise Line Holdings Ltd. | 11 Jun 2026 | To consider and vote upon one shareholder proposal |
| Five Below, Inc. | 16 Jun 2026 | Shareholder proposal requesting that provisions in the Company's governance documents requiring greater... |
| PENN Entertainment, Inc. | 16 Jun 2026 | Declassify the board of directors |
| Calix, Inc. | 14 May 2026 | To hold an advisory vote on a stockholder proposal relating to a simple majority vote. |
| Avis Budget Group, Inc. | 20 May 2026 | Adopt simple majority vote |
| THE BANK OF NOVA SCOTIA | 14 Apr 2026 | Shareholder Proposal Regarding Report on Use of Artificial Intelligence |
| Bloomin' Brands, Inc. | 22 Apr 2026 | Shareholder proposal: CAPITAL STRUCTURE |
| ANZ Group Holdings Limited | 18 Dec 2025 | Approve Customer Transition Approach and Climate Commitments |
| PT Bank Rakyat Indonesia (Persero) Tbk | 17 Dec 2025 | Shareholder proposal: CORPORATE GOVERNANCE |
| PT Bank Rakyat Indonesia (Persero) Tbk | 10 Apr 2026 | Amend Articles of Association |
Shares on loan
VANGUARD HORIZON FUNDS reported 110.6 million shares on loan at record dates against 22.24 billion shares voted: 0.49% 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
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 |
|---|---|---|---|---|
| VANGUARD STRATEGIC EQUITY FUND | 6,485 | 1.2% | 98.8% | 8.0% |
| VANGUARD STRATEGIC SMALL-CAP EQUITY FUND | 6,241 | 1.4% | 98.8% | 21.7% |
| VANGUARD GLOBAL EQUITY FUND | 2,757 | 4.4% | 93.9% | 22.1% |
| VANGUARD CAPITAL OPPORTUNITY FUND | 2,625 | 1.6% | 95.3% | 7.0% |
| VANGUARD INTERNATIONAL CORE STOCK FUND | 1,624 | 4.4% | 87.5% | 11.6% |
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 27 Aug 2026 accession 0001104659-26-101956
- N-PX filed 27 Aug 2026 accession 0001104659-26-101957
- N-PX filed 27 Aug 2026 accession 0001104659-26-101959
- N-PX filed 27 Aug 2026 accession 0001104659-26-101962
- N-PX filed 27 Aug 2026 accession 0001104659-26-101964
- Every N-PX filing by this filer on EDGAR
Questions
How did VANGUARD HORIZON FUNDS vote on executive pay?
In the year to 30 June 2026 VANGUARD HORIZON FUNDS reported 2,934 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 2,866 were for (97.7%), 68 against and 0 abstentions. Counting one item per company meeting, it voted against management on 18 of the 997 say-on-pay items it marked either way.
How often does VANGUARD HORIZON FUNDS vote against management?
2.0% of the time in the year to 30 June 2026: 391 of the 19,402 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 VANGUARD HORIZON FUNDS support shareholder proposals on climate?
In the category ENVIRONMENT OR CLIMATE it reported 62 votes on proposals from security holders in the year to 30 June 2026 and voted for 4 of them (6.5%). Across every category it voted for 13.5% 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 VANGUARD HORIZON FUNDS (filer no. 932471), 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.