N-PX: Parse Mutual Fund Proxy Voting Records

Form N-PX is an annual proxy voting record filed by registered investment companies (mutual funds) to report how they voted on proxy matters for securities they held during the 12-month period ending June 30. This guide details all data available from the NPX class for building views.

Overview

Property	Type	Description
Class Name	`NPX`
Forms Handled	`N-PX`, `N-PX/A`
Module	`edgar.npx`
Source Data	XML primary document + XML proxy vote table

Form Type Descriptions

Form	Description
`N-PX`	Annual proxy voting record report
`N-PX/A`	Amendment to proxy voting record report

Basic Metadata

Property	Type	Description	Example
`submission_type`	`str`	Form type	`"N-PX"`
`period_of_report`	`str`	Reporting period end date	`"2023-06-30"`
`report_calendar_year`	`str`	Calendar year of report	`"2023"`
`is_amendment`	`bool`	Whether this is an amendment	`False`
`amendment_no`	`str`	Amendment number if applicable	`"1"`
`amendment_type`	`str`	Type of amendment	`None`

Fund Information

Property	Type	Description	Example
`fund_name`	`str`	Name of the reporting fund	`"Vanguard Index Funds"`
`cik`	`str`	Central Index Key	`"0000102909"`
`report_type`	`str`	Type of report	`"FUND VOTING REPORT"`
`investment_company_type`	`str`	Investment company type	`"N-1A"`
`year_or_quarter`	`str`	Year or quarter indicator	`"YEAR"`
`series_count`	`str`	Number of series in filing	`"5"`

Report Types

Type	Description
`FUND VOTING REPORT`	Standard fund proxy voting report
`MANAGER VOTING REPORT`	Investment manager voting report

Regulatory Identifiers

Property	Type	Description	Example
`lei_number`	`str`	Legal Entity Identifier	`"549300QSHYB96X84H026"`
`crd_number`	`str`	Central Registration Depository number	`"12345"`
`filer_sec_file_number`	`str`	SEC file number of filer	`"811-00234"`
`npx_file_number`	`str`	N-PX specific file number	`"811-00234"`

Contact Information

Fund Address

Property	Type	Description	Example
`address`	`str`	Formatted full address	`"100 Vanguard Blvd\nMalvern, PA 19355"`
`phone_number`	`str`	Fund phone number	`"610-669-1000"`

Agent for Service

Property	Type	Description
`agent_for_service_name`	`str`	Name of agent for service
`agent_for_service_address`	`str`	Formatted agent address
`agent_for_service_address_street1`	`str`	Street line 1
`agent_for_service_address_street2`	`str`	Street line 2
`agent_for_service_address_city`	`str`	City
`agent_for_service_address_state_country`	`str`	State/country
`agent_for_service_address_zip_code`	`str`	ZIP code

Contact Person

Property	Type	Description
`contact_name`	`str`	Contact person name
`contact_phone_number`	`str`	Contact phone number
`contact_email_address`	`str`	Contact email address

Signature Information

Property	Type	Description	Example
`signer_name`	`str`	Name of person who signed	`"John W. Smith"`
`signer_title`	`str`	Title of signer	`"Principal Executive Officer"`
`signature_date`	`str`	Date filing was signed	`"2023-08-28"`
`tx_printed_signature`	`str`	Printed signature text	`None`

Proxy Voting Data

Primary Access: `proxy_votes` Property

The proxy_votes property returns a ProxyVotes container with all voting records:

npx = filing.obj()
votes = npx.proxy_votes  # ProxyVotes container

# Convert to DataFrame
votes_df = votes.to_dataframe()

# Get vote count
print(f"Total matters voted: {len(votes)}")

ProxyVotes Methods

Method	Returns	Description
`to_dataframe()`	`pd.DataFrame`	All votes as DataFrame
`filter_by_issuer(name)`	`ProxyVotes`	Filter by issuer name (case-insensitive partial match)
`filter_by_vote(how_voted)`	`ProxyVotes`	Filter by vote type (FOR, AGAINST, ABSTAIN, etc.)
`filter_by_category(category)`	`ProxyVotes`	Filter by vote category
`against_management()`	`ProxyVotes`	Filter to votes against management recommendation
`management_alignment_rate()`	`float`	Rate of alignment with management (0.0 to 1.0)
`summary()`	`pd.DataFrame`	Vote counts by vote type
`summary_by_category()`	`pd.DataFrame`	Voting patterns by category

Filter Examples

# Filter by issuer
apple_votes = npx.proxy_votes.filter_by_issuer("APPLE")

# Filter by vote type
against_votes = npx.proxy_votes.filter_by_vote("AGAINST")

# Filter by category
climate_votes = npx.proxy_votes.filter_by_category("CLIMATE")

# Find dissenting votes
dissent = npx.proxy_votes.against_management()
print(f"Voted against management {len(dissent)} times")

# Calculate alignment rate
alignment = npx.proxy_votes.management_alignment_rate()
print(f"Aligned with management {alignment:.1%} of the time")

Vote Categories

Common vote categories in N-PX filings:

Category	Description
`DIRECTOR ELECTIONS`	Board of directors elections
`SECTION 14A SAY-ON-PAY VOTES`	Executive compensation advisory votes
`AUDIT-RELATED`	Auditor ratification and related
`COMPENSATION`	Compensation plans and amendments
`ENVIRONMENT OR CLIMATE`	Environmental and climate proposals
`CORPORATE GOVERNANCE`	Governance structure changes
`OTHER`	Other proposal types

DataFrame Columns

`proxy_votes.to_dataframe()` Columns

Column	Type	Description	Example
`issuer_name`	`str`	Company name	`"APPLE INC"`
`meeting_date`	`str`	Shareholder meeting date	`"2023-03-10"`
`vote_description`	`str`	Description of the matter	`"Elect Director Tim Cook"`
`total_shares_voted`	`float`	Total shares voted on matter	`1500000.0`
`shares_on_loan`	`float`	Shares on loan	`0.0`
`cusip`	`str`	CUSIP identifier	`"037833100"`
`isin`	`str`	ISIN identifier	`"US0378331005"`
`figi`	`str`	FIGI identifier	`None`
`other_vote_description`	`str`	Additional vote description	`None`
`vote_source`	`str`	Source of vote	`None`
`vote_series`	`str`	Series information	`None`
`vote_other_info`	`str`	Additional info	`None`
`vote_categories`	`str`	Categories (comma-separated)	`"DIRECTOR ELECTIONS"`
`other_managers`	`str`	Other managers (comma-separated)	`None`
`how_voted`	`str`	How fund voted	`"FOR"`
`shares_voted`	`float`	Shares voted in this record	`1500000.0`
`management_recommendation`	`str`	Management's recommendation	`"FOR"`

How Voted Values

Value	Description
`FOR`	Voted in favor
`AGAINST`	Voted against
`ABSTAIN`	Abstained from voting
`WITHHOLD`	Withheld vote (typically for directors)
`NONE`	Did not vote

Analysis Summary Methods

`summary()` - Vote Type Distribution

summary = npx.proxy_votes.summary()
# Returns DataFrame with columns: vote_type, count

`summary_by_category()` - Category Analysis

by_category = npx.proxy_votes.summary_by_category()

Column	Type	Description
`category`	`str`	Vote category type
`total_votes`	`int`	Total vote records
`for_votes`	`int`	FOR votes
`against_votes`	`int`	AGAINST votes
`abstain_votes`	`int`	ABSTAIN votes
`other_votes`	`int`	Other vote types
`with_management`	`int`	Aligned with management
`against_management`	`int`	Dissented from management

Included Managers

For consolidated filings that include multiple investment managers:

Property	Type	Description
`other_included_managers_count`	`str`	Count of other managers
`included_managers`	`list[IncludedManager]`	List of included managers

IncludedManager Object

Property	Type	Description
`serial_no`	`str`	Manager sequence number
`name`	`str`	Manager name
`form13f_file_number`	`str`	Form 13F file number
`sec_file_number`	`str`	SEC file number

for manager in npx.included_managers:
    print(f"{manager.serial_no}: {manager.name}")

Series and Class Information

For funds with multiple series:

Property	Type	Description
`series_count`	`str`	Number of series
`series_reports`	`list[SeriesReport]`	Series report details
`report_series_class_infos`	`list[ReportSeriesClassInfo]`	Series/class mappings

SeriesReport Object

Property	Type	Description
`id_of_series`	`str`	Series identifier
`name_of_series`	`str`	Series name
`lei_of_series`	`str`	Series LEI

ReportSeriesClassInfo Object

Property	Type	Description
`series_id`	`str`	Series identifier
`class_infos`	`list[ClassInfo]`	List of class identifiers

Administrative Fields

Property	Type	Description
`confidential_treatment`	`str`	Confidential treatment flag (Y/N)
`notice_explanation`	`str`	Notice explanation text
`explanatory_choice`	`str`	Explanatory choice flag
`registrant_type`	`str`	Registrant type (RMIC, IA, etc.)
`live_test_flag`	`str`	Live/Test flag
`de_novo_request_choice`	`str`	De novo request choice
`conf_denied_expired`	`str`	Confidential treatment denied/expired

Raw Data Access

Property	Returns	Description
`primary_doc`	`PrimaryDoc`	Raw primary document data
`filing`	`Filing`	Source Filing object

Fund Entities -- look up funds by ticker, navigate hierarchies
Fund Portfolios (N-PORT) -- monthly fund portfolio holdings
Fund Shareholder Reports (N-CSR) -- expense ratios and performance

Utility Methods

Method	Returns	Description
`to_dataframe()`	`pd.DataFrame`	Filing metadata as single-row DataFrame
`__str__()`	`str`	String representation
`__rich__()`	`Rich object`	Rich console rendering

View Design Recommendations

Primary View Components

Header Section
Fund name (prominent)
Form type (N-PX or N-PX/A)
Reporting period
Total proxy votes count
Summary Cards
Total matters voted
Management alignment rate
Vote breakdown (FOR/AGAINST/ABSTAIN)
Voting Table (main content)
Sortable by issuer, date, vote type
Columns: Issuer, Meeting Date, Description, How Voted, Shares
Category badges
Highlight votes against management
Analysis Panels
Vote category breakdown chart
Management alignment statistics
Top issuers by vote count
Filter Controls
By issuer name
By vote type (FOR, AGAINST, etc.)
By category
By management alignment

Data Priority for Display

Priority	Data	Reason
High	Fund name	Primary identifier
High	Proxy votes table	Core disclosure
High	Total vote count	Volume indicator
High	Management alignment rate	Key metric
Medium	Period of report	Timing context
Medium	Vote categories	Analysis dimension
Medium	Against management votes	Stewardship indicator
Low	Signer details	Administrative
Low	Series information	Reference data
Low	Regulatory identifiers	Technical

Visual Indicators (Suggested)

Condition	Visual Treatment
Amendment (`N-PX/A`)	Yellow "Amendment" badge
Vote against management	Red highlight
High alignment rate (>95%)	Green indicator
Climate/ESG category	Green badge
Director election	Blue badge

Vote Color Coding

How Voted	Color	Meaning
`FOR`	Green	Voted in favor
`AGAINST`	Red	Voted against
`ABSTAIN`	Gray	Abstained
`WITHHOLD`	Orange	Withheld vote

Example Data Structure

{
    # Metadata
    "submission_type": "N-PX",
    "period_of_report": "2023-06-30",
    "report_calendar_year": "2023",
    "is_amendment": False,

    # Fund info
    "fund_name": "Vanguard Index Funds",
    "cik": "0000102909",
    "report_type": "FUND VOTING REPORT",
    "investment_company_type": "N-1A",

    # Identifiers
    "lei_number": "549300QSHYB96X84H026",
    "npx_file_number": "811-00234",

    # Signature
    "signer_name": "John W. Smith",
    "signer_title": "Principal Executive Officer",
    "signature_date": "2023-08-28",

    # Contact
    "address": "100 Vanguard Blvd\nMalvern, PA 19355",
    "phone_number": "610-669-1000",

    # Included managers (for consolidated filings)
    "other_included_managers_count": "3",
    "included_managers": [
        {
            "serial_no": "1",
            "name": "Vanguard Fixed Income Group",
            "form13f_file_number": "028-12345",
            "sec_file_number": "801-12345"
        }
    ],

    # Proxy votes
    "proxy_votes": [
        {
            "issuer_name": "APPLE INC",
            "cusip": "037833100",
            "meeting_date": "2023-03-10",
            "vote_description": "Elect Director Tim Cook",
            "total_shares_voted": 1500000.0,
            "shares_on_loan": 0.0,
            "vote_categories": ["DIRECTOR ELECTIONS"],
            "vote_records": [
                {
                    "how_voted": "FOR",
                    "shares_voted": 1500000.0,
                    "management_recommendation": "FOR"
                }
            ]
        },
        {
            "issuer_name": "MICROSOFT CORP",
            "cusip": "594918104",
            "meeting_date": "2023-12-07",
            "vote_description": "Report on Climate Lobbying",
            "total_shares_voted": 2000000.0,
            "shares_on_loan": 50000.0,
            "vote_categories": ["ENVIRONMENT OR CLIMATE"],
            "vote_records": [
                {
                    "how_voted": "FOR",
                    "shares_voted": 2000000.0,
                    "management_recommendation": "AGAINST"
                }
            ]
        }
    ],

    # Flags
    "proxy_vote_count": 1500
}

Notes for Implementation

Reporting Period: N-PX filings cover the 12-month period ending June 30. The period_of_report will typically be YYYY-06-30.
Vote Records: Each proxy matter can have multiple vote_records if the fund voted different ways on behalf of different accounts or series.
Categories: A single vote can belong to multiple categories. The vote_categories column contains comma-separated values.
Security Identifiers: Not all votes include CUSIP. Some use ISIN or FIGI. Check all three when matching to other data sources.
Management Alignment: The management_alignment_rate() method provides a key stewardship metric. High alignment (>95%) is typical; low alignment may indicate active voting policies.
Against Management Analysis: Use against_management() to identify controversial votes where the fund disagreed with management's recommendation.
Large Filings: Major fund families (Vanguard, BlackRock, Fidelity) may have thousands of proxy votes. Consider pagination or lazy loading for UI.
Category Analysis: The summary_by_category() method is useful for understanding voting patterns across different proposal types.
Series Complexity: Large fund families report votes for multiple series (individual funds). The series_count and related properties track this.
Data Quality: Some older filings may have missing fields. Always check for None values before displaying.