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Form N-PX · fund seriesSEC series no. S000002594

VANGUARD CAPITAL OPPORTUNITY FUND

A series of VANGUARD HORIZON FUNDS

Vote records
2,625year to 30 June 2026
Against management
1.6%40 of 2,549 marked votes
Say-on-pay support
95.3%for, of for + against + abstain
Shareholder-proposal support
7.0%for, of for + against + abstain

VANGUARD CAPITAL OPPORTUNITY FUND is a series of VANGUARD HORIZON FUNDS. For the year to 30 June 2026 its registrant reported 2,625 vote records for the series; 1.6% of the votes marked for or against management went against management. It voted for 95.3% of say-on-pay items and for 7.0% of proposals from security holders.

Compared with its registrant and family

year to 30 June 2026This seriesIts registrantVanguardMedian fund registrant
Against-management share1.6%2.0%20.1%6.2%
Say-on-pay support rate95.3%97.7%94.1%91.6%
Shareholder-proposal support rate7.0%13.5%42.0%27.5%

Votes by category

foragainstabstain, withhold or otheramber tick: the portion cast against management

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS1,5851,54280.7%
SECTION 14A SAY-ON-PAY VOTES366326164.4%
AUDIT-RELATED20019700.0%
SHAREHOLDER RIGHTS AND DEFENSES54223113.2%
EXTRAORDINARY TRANSACTIONS101000.0%
CAPITAL STRUCTURE726630.0%
COMPENSATION1089181.0%
CORPORATE GOVERNANCE175120293.4%
ENVIRONMENT OR CLIMATE150150.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE130130.0%
DIVERSITY, EQUITY, AND INCLUSION8080.0%
OTHER SOCIAL ISSUES192170.0%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
year to 30 June 20242,7061.5%97.5%5.9%
year to 30 June 20252,5661.8%95.1%12.8%
year to 30 June 20262,6251.6%95.3%7.0%

Questions

How often did VANGUARD CAPITAL OPPORTUNITY FUND vote against management?

1.6% of the votes its registrant marked for or against management in the year to 30 June 2026 (40 of 2,549).

How did VANGUARD CAPITAL OPPORTUNITY FUND vote on executive pay?

It voted for 322 of 338 say-on-pay items cast for, against or abstain (95.3%).

Is this the result of the meetings?

No. Form N-PX shows how the fund voted the shares it held. It does not show how other shareholders voted or what the outcome was.

Where does the data come from?

From the Form N-PX filed by VANGUARD HORIZON FUNDS, which lists the series that cast each vote. The SEC does not verify the contents. Data runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX filed by VANGUARD HORIZON FUNDS (filer no. 932471); votes attributed to series S000002594 by the filer. Not verified by the SEC. Filings read through 23 Sep 2026.