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SHELTON FUNDS proxy voting record, 2024-2025

SHELTON FUNDS reported 19,868 proxy votes on Form N-PX for the 2025 season. On the 15,969 ballot items the board itself put forward — directors, pay, the auditor, capital — it voted FOR 95.6% of the time. On the 470 environmental and social proposals put on the ballot by shareholders, it voted FOR 14.7% of the time.

2023-20242024-20252025-2026

On the board’s own proposals

95.6% FOR of 15,969 fund votes on board proposals in 2024-2025: directors, pay, auditor, capital.

FOR 15,274 AGAINST 378 Abstained or withheld 317

How we count these

On proposals shareholders put on the ballot

14.7% FOR of 470 fund votes on environmental and social proposals shareholders put on the ballot. The board opposed 467.

FOR 69 AGAINST 401 Abstained 0

See the 69 it backed →

How we count these

By proposal type

A single “voted with management” figure makes every manager look the same: director elections are most of the volume and nearly everyone votes FOR them. The record is therefore reported per category, using the category the filer itself put on each item in its N-PX.

SHELTON FUNDS, 2024-2025. “Decided” is FOR + AGAINST, the denominator of the two percentage columns; abstentions and withheld votes are shown separately and are never inside a percentage. Counted in ballot items — one fund’s vote on one proposal at one meeting — never in shares.
Proposal typePut on the ballot by ItemsDecided Voted FORVoted AGAINST Abstained / withheld
Director Elections Board (5 inferred) 11,875 11,495 98.8% 1.2% 316
Director Elections Shareholders 4 4 100.0% 0.0% 0
Say-on-Pay Board 1,781 1,684 91.3% 8.7% 0
Say-on-Pay Shareholders (2 inferred) 2 2 100.0% 0.0% 0
Audit-related Board 1,723 1,723 100.0% 0.0% 0
Audit-related Shareholders (2 inferred) 2 2 100.0% 0.0% 0
Corporate Governance Board 414 414 93.5% 6.5% 0
Corporate Governance Shareholders 219 219 58.0% 42.0% 0
Compensation Board 512 512 83.4% 16.6% 0
Compensation Shareholders (2 inferred) 78 78 46.2% 53.8% 0
Environment or Climate Board 5 5 100.0% 0.0% 0
Environment or Climate Shareholders 265 265 6.8% 93.2% 0
Other Social Issues Board 7 7 100.0% 0.0% 0
Other Social Issues Shareholders 258 258 14.3% 85.7% 0
Capital Structure Board 171 171 98.2% 1.8% 0
Capital Structure Shareholders 11 11 100.0% 0.0% 0
Diversity, Equity, and Inclusion Board 5 5 100.0% 0.0% 0
Diversity, Equity, and Inclusion Shareholders 166 166 6.0% 94.0% 0
Extraordinary Transactions Board 70 69 94.2% 5.8% 1
Human Rights or Human Capital/workforce Board 5 5 100.0% 0.0% 0
Human Rights or Human Capital/workforce Shareholders 64 64 15.6% 84.4% 0
Shareholder Rights and Defenses Board 37 37 97.3% 2.7% 0
Shareholder Rights and Defenses Shareholders 22 22 95.5% 4.5% 0
Other Board 1 1 100.0% 0.0% 0

An item the filer put in two categories is counted in both rows, so the rows add up to more than the total. Who put an item on the ballot is decided item by item: the filer’s own answer on Form N-PX (Item 1(h)), or, where the filing does not give one, the proposal’s own wording (11 items, shown as inferred). The two figures above use only part of these rows: the board figure, board proposals on directors, pay, the auditor, capital, transactions and fund matters; the shareholder figure, environmental, social, workforce and diversity shareholder proposals at US-listed companies. How we count these

Every proposal where SHELTON FUNDS broke with the board (620 distinct proposals) →

What is being counted

The unit is a fund-level observation: one fund’s vote on one proposal at one meeting. It is not a share, not a filing line and not a proposal.
SHELTON FUNDS filed 19,868 vote records for 2024-2025; after removing votes filed twice in different N-PX filings, that is 17,362 ballot items (fund-level observations) across 1,485 issuer names and 6 funds. They cover 14,293 distinct proposals: one proposal voted by twenty of its funds is twenty ballot items here and one proposal. Proposals are counted per issuer name and meeting, and wordings of the same director nominee are counted once; two different wordings of any other proposal count twice, so this is an upper bound. A fund that reported several directions for the same item is a split vote, counted on its own (see the table below) and not collapsed into the larger direction. “Issuer names” is literal: filers spell the same company several ways and those are counted separately here, so this runs higher than the number of distinct companies.
Share counts are not used anywhere on this page.
Share figures in N-PX carry their own long list of corrections in this dataset, and a share-weighted rate would inherit every one of them. Every percentage here is a count of items.
Abstentions are reported, never hidden inside a percentage.
On the board’s own proposals an abstention or a withheld vote is not support, so it is in the denominator of the FOR figure and not in its numerator. On shareholder proposals an abstention is neither support nor opposition, so it is excluded from the denominator and shown on its own.
161 items are outside both headline figures.
Besides the table rows neither figure uses:
ExcludedItemsWhy
Not voted0 Reported as not voted, take no action or do not vote. No position was expressed, so there is nothing to count.
Other ballot type97 Frequency ballots (one / two / three years) and anything else that is not a FOR, AGAINST, abstention or withhold.
Direction indeterminate0 The fund reported several directions for one ballot item with no shares attached to any of them, so which way it voted cannot be established.
Split vote64 The fund voted its shares in more than one direction on the item (for example some FOR and some AGAINST), the smaller part at least 5% of its shares. It is not collapsed into the larger part.

About this page

Every figure is derived from Form N-PX, the filing in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes). Figures are rebuilt weekly; this page was built on October 13, 2026. The interactive database shows the same votes company by company, including every individual fund.

SHELTON FUNDS proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.