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Form N-PX · fund seriesSEC series no. S000019457

VANGUARD MARKET NEUTRAL FUND

A series of Vanguard Montgomery Funds

Vote records
3,136year to 30 June 2026
Against management
1.3%41 of 3,135 marked votes
Say-on-pay support
98.9%for, of for + against + abstain
Shareholder-proposal support
10.6%for, of for + against + abstain

VANGUARD MARKET NEUTRAL FUND is a series of Vanguard Montgomery Funds. For the year to 30 June 2026 its registrant reported 3,136 vote records for the series; 1.3% of the votes marked for or against management went against management. It voted for 98.9% of say-on-pay items and for 10.6% of proposals from security holders.

Compared with its registrant and family

year to 30 June 2026This seriesIts registrantVanguardMedian fund registrant
Against-management share1.3%1.3%20.1%6.2%
Say-on-pay support rate98.9%98.2%94.1%91.6%
Shareholder-proposal support rate10.6%10.6%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 ELECTIONS1,9931,96841.3%
SECTION 14A SAY-ON-PAY VOTES594542101.3%
AUDIT-RELATED27727700.0%
SHAREHOLDER RIGHTS AND DEFENSES98111.1%
EXTRAORDINARY TRANSACTIONS212014.8%
CAPITAL STRUCTURE303003.3%
COMPENSATION11411220.9%
CORPORATE GOVERNANCE8467176.0%
ENVIRONMENT OR CLIMATE6150.0%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE8170.0%
DIVERSITY, EQUITY, AND INCLUSION8170.0%
OTHER SOCIAL ISSUES151140.0%
OTHER110not reported

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
year to 30 June 20241,5851.2%98.0%10.0%
year to 30 June 20251,7661.4%95.7%8.3%
year to 30 June 20263,1361.3%98.9%10.6%

Questions

How often did VANGUARD MARKET NEUTRAL FUND vote against management?

1.3% of the votes its registrant marked for or against management in the year to 30 June 2026 (41 of 3,135).

How did VANGUARD MARKET NEUTRAL FUND vote on executive pay?

It voted for 538 of 544 say-on-pay items cast for, against or abstain (98.9%).

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 Montgomery 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 Montgomery Funds (filer no. 1409957); votes attributed to series S000019457 by the filer. Not verified by the SEC. Filings read through 23 Sep 2026.