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Vanguard Equity Income Fund proxy voting record
Vanguard Fenway Funds files this fund's proxy votes with the SEC once a year. This is what it did with the shares your retirement savings paid for.
SourceProxy-voting record filed by Vanguard Fenway Funds on 2025-08-27 · open the filing · vote table (ProxyVotingTable.xml, 2.6 MB)
How it voted, by issue
Proposals are grouped by the subject the filer itself recorded. On management's own executive pay resolutions, this fund voted in favour 96.9% of the time across 229 votes.
| Issue | Proposals faced | Backed | Share backed |
|---|---|---|---|
| Climate & environment | 71 | 1 | 1.4% |
| Workers & human rights | 19 | 0 | 0% |
| Pay equity & inclusion | 12 | 0 | 0% |
| Executive pay | 21 | 0 | 0% |
| Corporate governance | 48 | 9 | 18.8% |
| Other social issues | 24 | 0 | 0% |
What it holds
The largest positions this fund reported, as a share of the fund. Your slice of each is that percentage of your balance.
| Company | % of fund |
|---|---|
| Broadcom Inc | 5.56% |
| Merck & Co Inc | 2.53% |
| Johnson & Johnson | 2.34% |
| Bank of America Corp | 2.11% |
| Cisco Systems Inc | 1.80% |
| Vanguard Cmt Funds-Vanguard Market Liquidity Fund | 1.68% |
| Diamondback Energy Inc | 1.60% |
| Honeywell International Inc | 1.43% |
| Gilead Sciences Inc | 1.36% |
| M&T Bank Corp | 1.28% |
| Unilever PLC | 1.28% |
| T-Mobile US Inc | 1.26% |
SourcePortfolio holdings as reported by the fund for 2026-03-31 · open the filing
Ballots it voted
Bank of America Corporation · 22 April 2025 · put on the ballot by shareholder · Climate & environment
Should Bank of America say whether its lobbying matches the climate targets it announces?
Shareholders asked the company to report on whether its own lobbying — and the lobbying done by the trade associations it funds — is consistent with the climate goals it publishes.
AGAINST Vanguard Equity Income Fund voted with 10,100,854 shares
“Shareholder proposal request report on lobbying alignment with Bank of America's climate goals”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
Bank of America Corporation · 22 April 2025 · put on the ballot by shareholder · Climate & environment
Should Bank of America disclose what it finances, not just what it emits?
Shareholders asked the company to disclose the emissions attached to its lending, underwriting or energy mix — the ratio of clean to fossil financing, or an assessment of its clients’ own transition plans — rather than reporting only the emissions of its own offices.
AGAINST Vanguard Equity Income Fund voted with 10,100,854 shares
“Shareholder proposal requesting disclosure of energy financing ratio”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
Walmart Inc. · 5 June 2025 · put on the ballot by shareholder · Workforce & human rights
Should Walmart explain how its board oversees the safety of the people who work for it?
Shareholders asked for a report on how health and safety is actually governed — who on the board is accountable, what the company measures, how injuries and fatalities are counted, and whether contractors and temporary workers are covered by the same standards as employees.
AGAINST Vanguard Equity Income Fund voted with 5,602,368 shares
“Health and Safety Governance”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
The Wendy's Company · 21 May 2025 · put on the ballot by shareholder · Workforce & human rights
Should the workers in Wendy's’s supply chain be the ones who enforce its labour standards?
Shareholders asked the company to assess adopting a worker-driven model of social responsibility: standards written with the workers who are affected, enforced through binding agreements with consequences for suppliers, and monitored by workers themselves rather than by an audit firm the company hires.
AGAINST Vanguard Equity Income Fund voted with 4,026,120 shares
“Stockholder proposal regarding worker-driven social responsibility, if properly presented at the Annual Meeting.”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
Walmart Inc. · 5 June 2025 · put on the ballot by shareholder · Pay equity & inclusion
Should an independent auditor examine how Walmart affects civil rights?
Shareholders asked the board to commission an independent, third-party audit of the company’s impact on civil rights and racial equity — its workforce, its customers and the communities it operates in — and to publish what the auditor finds.
AGAINST Vanguard Equity Income Fund voted with 5,602,368 shares
“Racial Equity Audit”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
The Procter & Gamble Company · 8 October 2024 · put on the ballot by shareholder · Pay equity & inclusion
Should Procter & Gamble publish the raw pay gap between its workers by gender and race?
Shareholders asked for “unadjusted” median pay gap figures — the plain difference between what women and men, and white and non-white employees, are paid across the whole company. Companies usually publish an adjusted number instead, which compares people in the same role and so cannot show whether one group is concentrated in the lower-paid roles.
AGAINST Vanguard Equity Income Fund voted with 2,492,549 shares
“Shareholder Proposal - Pay Gap Reporting”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
Comcast Corporation · 18 June 2025 · put on the ballot by shareholder · Executive pay
Should the gap between Comcast’s top executive pay and its typical worker’s pay count for something?
Shareholders asked the company to disclose the ratio between its highest-paid executive and its median employee — and, in the versions filed as a “pay ratio factor”, to take that ratio into account when the board sets executive pay rather than treating it as a footnote.
AGAINST Vanguard Equity Income Fund voted with 7,187,960 shares
“Consider "CEO pay ratio factor" in executive compensation”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
Citigroup Inc. · 29 April 2025 · put on the ballot by shareholder · Executive pay
Should shareholders get a vote before Citigroup pays a departing executive?
Shareholders asked the company to seek shareholder approval for any severance package to a senior executive above a set multiple of salary and bonus — so that very large exit payments cannot be agreed by the board alone.
AGAINST Vanguard Equity Income Fund voted with 3,645,814 shares
“Stockholder proposal requesting a shareholder vote regarding excessive golden parachutes.”
The column headers and this one row, lifted unaltered out of EDGAR’s rendering of the filing.
SourceVanguard Fenway Funds, Form N-PX filed 2025-08-27 · accession 0001104659-25-083385 · series S000002579 · open the filing
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