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Waddell & Reed proxy voting record, 2024-2025

Waddell & Reed reported 13,232 proxy votes on Form N-PX for the 2025 season. On the 10,074 ballot items the board itself put forward — directors, pay, the auditor, capital — it voted FOR 91.7% of the time. On the 329 environmental and social proposals put on the ballot by shareholders, it voted FOR 24.6% of the time.

2023-20242024-20252025-2026

91.7%Voted for board proposals
24.6%Backed E&S proposals
12,081Ballot items
7,719Proposals
950Issuers
19Funds / accounts

On the board’s own proposals

91.7% FOR of 10,074 fund votes on board proposals in 2024-2025: directors, pay, auditor, capital.

91.7% FOR

FOR 9,242 AGAINST 630 Abstained or withheld 202

How we count these

On proposals shareholders put on the ballot

24.6% FOR of 329 fund votes on environmental and social proposals shareholders put on the ballot. The board opposed 329.

24.6% FOR AGAINST

FOR 81 AGAINST 248 Abstained 0

See the 81 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.

Waddell & Reed, 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 type	Put on the ballot by	Items	Decided	Voted FOR	Voted AGAINST	Abstained / withheld
Director Elections	Board (49 inferred)	6,464	6,193	94.7%	5.3%	202
Corporate Governance	Board	1,391	1,382	93.1%	6.9%	9
Corporate Governance	Shareholders (1 inferred)	123	123	39.0%	61.0%	0
Say-on-Pay	Board (472 inferred)	1,152	1,089	90.2%	9.8%	0
Say-on-Pay	Shareholders (4 inferred)	4	4	100.0%	0.0%	0
Audit-related	Board	962	962	99.3%	0.7%	0
Audit-related	Shareholders (3 inferred)	17	17	94.1%	5.9%	0
Capital Structure	Board	861	861	91.6%	8.4%	0
Capital Structure	Shareholders	13	13	92.3%	7.7%	0
Compensation	Board (16 inferred)	726	718	84.7%	15.3%	8
Compensation	Shareholders (3 inferred)	45	45	51.1%	48.9%	0
Other Social Issues	Board	39	39	94.9%	5.1%	0
Other Social Issues	Shareholders	195	195	25.1%	74.9%	0
Environment or Climate	Board	16	16	100.0%	0.0%	0
Environment or Climate	Shareholders	149	149	10.7%	89.3%	0
Extraordinary Transactions	Board	112	112	85.7%	14.3%	0
Diversity, Equity, and Inclusion	Board	11	11	100.0%	0.0%	0
Diversity, Equity, and Inclusion	Shareholders	90	90	1.1%	98.9%	0
Human Rights or Human Capital/workforce	Board	11	11	100.0%	0.0%	0
Human Rights or Human Capital/workforce	Shareholders	49	49	30.6%	69.4%	0
Other	Board	32	32	96.9%	3.1%	0
Other	Shareholders	1	1	100.0%	0.0%	0
Shareholder Rights and Defenses	Board	17	12	100.0%	0.0%	5
Shareholder Rights and Defenses	Shareholders (2 inferred)	15	15	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 (550 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 Waddell & Reed broke with the board (616 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.: Waddell & Reed filed 13,232 vote records for 2024-2025; after removing votes filed twice in different N-PX filings, that is 12,081 ballot items (fund-level observations) across 950 issuer names and 19 funds. They cover 7,719 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.
132 items are outside both headline figures.: Besides the table rows neither figure uses:

Excluded	Items	Why
Not voted	0	Reported as not voted, take no action or do not vote. No position was expressed, so there is nothing to count.
Other ballot type	63	Frequency ballots (one / two / three years) and anything else that is not a FOR, AGAINST, abstention or withhold.
Direction indeterminate	0	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 vote	69	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 25, 2026. The interactive database shows the same votes company by company, including every individual fund.

Waddell & Reed proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.