# EDGAR Filing Document

**Accession Number:** 0001787596
**File Stem:** 0001172661-25-003828
**Filing Date:** 2025-8
**Character Count:** 38635
**Document Hash:** 5791d6a7555015f09a414902f0ea59c0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-003828.hdr.sgml**: 20250827

**ACCESSION NUMBER**: 0001172661-25-003828

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250827

**EFFECTIVENESS DATE**: 20250827

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Aperture Investors, LLC
- **CENTRAL INDEX KEY:** 0001787596

**ORGANIZATION NAME:**
- **EIN:** 824044752
- **STATE OF INCORPORATION:** DE

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19819
- **FILM NUMBER:** 251260532

**BUSINESS ADDRESS:**
- **STREET 1:** 250 W 55TH STREET, FLOOR 34
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 2125215180

**MAIL ADDRESS:**
- **STREET 1:** 250 W 55TH STREET, FLOOR 34
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001787596

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Aperture Investors, LLC

**Address:** 250 W 55TH STREET, FLOOR 34, NEW YORK, NY 10019

**Telephone number:** 212-521-5193

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-19819

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                      | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                                                                                                                       | VOTE CATEGORY                |     SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Linde Plc                           | G54950103 | 07/30/2024     | To approve, on an advisory and non-binding basis, the compensation of Linde plc's Named Executive Officers, as disclosed in the 2024 Proxy statement.                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |  63092           |                0 | FOR         |                          63092           | FOR                         |  |
| Skyline Champion Corporation        | 830830105 | 08/01/2024     | To consider a non-binding advisory vote on fiscal 2024 compensation paid to Skyline Champion's Named Executive Officers.                                                                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES | 172580           |                0 | FOR         |                         172580           | FOR                         |  |
| Logitech International S.A.         | H50430232 | 09/04/2024     | Advisory vote to approve Named Executive Officers Compensation for fiscal year 2024                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  77286           |                0 | FOR         |                          77286           | FOR                         |  |
| Medtronic Plc                       | G5960L103 | 10/17/2024     | Approving, on an advisory basis, the Company's executive compensation;                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  63686           |                0 | FOR         |                          63686           | FOR                         |  |
| Primo Water Corporation             | 741623102 | 11/04/2024     | Non-binding advisory resolution to approve, on an advisory basis, the payment of certain compensation to certain of Primo Water's executive officers that will or may become payable by Primo Water to such executive officers in connection with the consummation of the Transaction.                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 253302           |                0 | FOR         |                         253302           | FOR                         |  |
| QXO, Inc.                           | 82846H405 | 12/09/2024     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |   5897           |                0 | FOR         |                           5897           | FOR                         |  |
| QXO, Inc.                           | 82846H405 | 12/09/2024     | Advisory vote on the frequency of future advisory votes to approve executive compensation.                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |   5897           |                0 | ONE YEAR    |                           5897           | FOR                         |  |
| Microsoft Corporation               | 594918104 | 12/10/2024     | Advisory Vote to Approve Named Executive Officer Compensation ("say-on-pay vote")                                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |  16190           |                0 | FOR         |                          16190           | FOR                         |  |
| Apple Inc.                          | 037833100 | 02/25/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |  16227           |                0 | FOR         |                          16227           | FOR                         |  |
| Federal Signal Corporation          | 313855108 | 04/22/2025     | Approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 118544           |                0 | FOR         |                         118544           | FOR                         |  |
| Entegris, Inc.                      | 29362U104 | 04/23/2025     | Approval, by non-binding vote, of the compensation paid to Entegris, Inc.'s named executive officers (advisory vote).                                                                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |   9060           |                0 | AGAINST     |                           9060           | AGAINST                     |  |
| Regal Rexnord Corporation           | 758750103 | 04/29/2025     | Advisory vote on the compensation of the company's named executive officers as disclosed in the company's proxy statement.                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |  95632           |                0 | FOR         |                          95632           | FOR                         |  |
| The Williams Companies, Inc.        | 969457100 | 04/29/2025     | Approve, on an Advisory Basis, the Compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  69164           |                0 | FOR         |                          69164           | FOR                         |  |
| Vistra Corp.                        | 92840M102 | 04/30/2025     | To approve, on a non-binding advisory basis, the 2024 compensation of the Company's named executive officers;                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |  42410           |                0 | FOR         |                          42410           | FOR                         |  |
| Primo Brands Corporation            | 741623102 | 05/01/2025     | Non-Binding Advisory Vote on Executive Compensation. Approval, on a non-binding advisory basis, of the compensation of Primo Brands Corporation's named executive officers.                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 257499           |                0 | FOR         |                         257499           | FOR                         |  |
| Primo Brands Corporation            | 741623102 | 05/01/2025     | Non-Binding Advisory Vote on the Frequency of Future Advisory Votes on Executive Compensation. Approval, on a non-binding advisory basis, of the frequency of future non-binding advisory votes on the compensation of Primo Brands Corporation's named executive officers.                                                                                            | SECTION 14A SAY-ON-PAY VOTES | 257499           |                0 | ONE YEAR    |                         257499           | FOR                         |  |
| Trex Company, Inc.                  | 89531P105 | 05/06/2025     | Non-binding advisory vote on executive compensation ("say-on-pay")                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES | 272422           |                0 | FOR         |                         272422           | FOR                         |  |
| Brunswick Corporation               | 117043109 | 05/07/2025     | Advisory vote to approve the compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES | 336777           |                0 | FOR         |                         336777           | FOR                         |  |
| S Global Inc.                       | 78409V104 | 05/07/2025     | Approve, on an advisory basis, the executive compensation program for the Company's named executive officers, as described in the Proxy Statement;                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |   6836           |                0 | AGAINST     |                           6836           | AGAINST                     |  |
| CRH Plc                             | G25508105 | 05/08/2025     | Consideration of Named Executive Officer Compensation for 2024 ("Say-on-Pay")                                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 124845           |                0 | FOR         |                         124845           | FOR                         |  |
| CRH Plc                             | G25508105 | 05/08/2025     | Consideration of Frequency of Future "Say-on-Pay" Votes                                                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES | 124845           |                0 | ONE YEAR    |                         124845           | FOR                         |  |
| International Paper Company         | 460146103 | 05/12/2025     | A Non-Binding Resolution to Approve the Compensation of the Company's Named Executive Officers                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |  36538           |                0 | FOR         |                          36538           | FOR                         |  |
| MKS Instruments, Inc.               | 55306N104 | 05/12/2025     | The approval, on an advisory basis, of executive compensation.                                                                                                                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES | 174902           |                0 | FOR         |                         174902           | FOR                         |  |
| 3M Company                          | 88579Y101 | 05/13/2025     | Advisory approval of executive compensation.                                                                                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  26660           |                0 | FOR         |                          26660           | FOR                         |  |
| AAON, Inc.                          | 000360206 | 05/13/2025     | Proposal to approve, on an advisory basis, a resolution on the compensation of AAON's named executive officers as set forth in the Proxy Statement.                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 290062           |                0 | FOR         |                         290062           | FOR                         |  |
| Dutch Bros Inc.                     | 26701L100 | 05/13/2025     | Approval, on a Non-Binding, Advisory Basis, of the Compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 255480           |                0 | FOR         |                         255480           | FOR                         |  |
| Burford Capital Ltd.                | G17977110 | 05/14/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers as disclosed in the proxy statement for the 2025 annual general meeting of shareholders under "Executive compensation", including the compensation discussion and analysis, the compensation tables and the related narrative discussion included therein ("Say-on-Pay"). | SECTION 14A SAY-ON-PAY VOTES | 494174           |                0 | FOR         |                         494174           | FOR                         |  |
| Burford Capital Ltd.                | G17977110 | 05/14/2025     | To approve, on an advisory basis, the frequency of future shareholder advisory votes to approve the compensation of the Company's named executive officers ("Say-on-Frequency").                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 494174           |                0 | ONE YEAR    |                         494174           | FOR                         |  |
| Mirion Technologies, Inc.           | 60471A101 | 05/15/2025     | Approve, on an advisory basis, the compensation of our named executive officers as disclosed in the accompanying proxy statement.                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 357367           |                0 | FOR         |                         357367           | FOR                         |  |
| XPO, Inc.                           | 983793100 | 05/15/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  24127           |                0 | FOR         |                          24127           | FOR                         |  |
| APi Group Corporation               | 00187Y100 | 05/16/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES | 181951           |                0 | FOR         |                         181951           | FOR                         |  |
| Everus Construction Group, Inc.     | 300426103 | 05/20/2025     | Advisory Vote to Approve the Frequency of Future Advisory Votes to Approve the Compensation Paid to the Company's Named Executive Officers.                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  36297           |                0 | ONE YEAR    |                          36297           | FOR                         |  |
| Everus Construction Group, Inc.     | 300426103 | 05/20/2025     | Advisory Vote to Approve the Compensation Paid to the Company's Named Executive Officers.                                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |  36297           |                0 | FOR         |                          36297           | FOR                         |  |
| Tradeweb Markets Inc.               | 892672106 | 05/20/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  34771           |                0 | FOR         |                          34771           | FOR                         |  |
| Amazon.com, Inc.                    | 023135106 | 05/21/2025     | ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION                                                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |  33008           |                0 | AGAINST     |                          33008           | AGAINST                     |  |
| Clean Harbors, Inc.                 | 184496107 | 05/21/2025     | To approve on a non-binding advisory basis, the compensation of the Company's named executive officers as described in the Company's definitive proxy statement.                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES | 142073           |                0 | FOR         |                         142073           | FOR                         |  |
| PHINIA Inc.                         | 71880K101 | 05/21/2025     | Advisory approval of the compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |  19404           |                0 | FOR         |                          19404           | FOR                         |  |
| RXO, Inc.                           | 74982T103 | 05/21/2025     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  99561           |                0 | FOR         |                          99561           | FOR                         |  |
| United Airlines Holdings, Inc.      | 910047109 | 05/21/2025     | A vote to approve, on a nonbinding advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  23056           |                0 | FOR         |                          23056           | FOR                         |  |
| Hayward Holdings, Inc.              | 421298100 | 05/22/2025     | To approve, on an advisory basis, of the compensation for the named executive officers.                                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |      1.44378e+06 |                0 | FOR         |                              1.44378e+06 | FOR                         |  |
| Yum China Holdings, Inc.            | 98850P109 | 05/23/2025     | Advisory Vote to Approve Executive Compensation                                                                                                                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES | 116347           |                0 | FOR         |                         116347           | FOR                         |  |
| ACV Auctions Inc.                   | 00091G104 | 05/28/2025     | Approve, on a non-binding, advisory basis, the compensation of our named executive officers; and                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |      1.58154e+06 |                0 | FOR         |                              1.58154e+06 | FOR                         |  |
| Meta Platforms, Inc.                | 30303M102 | 05/28/2025     | To approve, on a non-binding advisory basis, the compensation program for Meta Platforms, Inc.'s named executive officers as disclosed in Meta Platforms, Inc.'s proxy statement.                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |   2752           |                0 | AGAINST     |                           2752           | AGAINST                     |  |
| Meta Platforms, Inc.                | 30303M102 | 05/28/2025     | To vote, on a non-binding advisory basis, whether a non-binding advisory vote on the compensation program for Meta Platforms, Inc.'s named executive officers should be held every one, two or three years.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |   2752           |                0 | ONE YEAR    |                           2752           | AGAINST                     |  |
| Lindblad Expeditions Holdings, Inc. | 535219109 | 06/04/2025     | The approval, on an advisory basis, of the 2024 compensation of our named executive officers.                                                                                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES | 527053           |                0 | FOR         |                         527053           | FOR                         |  |
| Shake Shack Inc.                    | 819047101 | 06/04/2025     | Approval, on an advisory basis, of the compensation of our Named Executive Officers.                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 259814           |                0 | FOR         |                         259814           | FOR                         |  |
| Expand Energy Corporation           | 165167735 | 06/05/2025     | To approve on an advisory basis our named executive officer compensation for 2024.                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  17310           |                0 | FOR         |                          17310           | FOR                         |  |
| Netflix, Inc.                       | 64110L106 | 06/05/2025     | Advisory approval of named executive officer compensation.                                                                                                                                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |   2118           |                0 | FOR         |                           2118           | FOR                         |  |
| Procore Technologies, Inc.          | 74275K108 | 06/05/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES | 217614           |                0 | FOR         |                         217614           | FOR                         |  |
| Salesforce, Inc.                    | 79466L302 | 06/05/2025     | Approval, on an advisory basis, of the fiscal 2025 compensation of our named executive officers.                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |   9338           |                0 | FOR         |                           9338           | FOR                         |  |
| Reddit, Inc.                        | 75734B100 | 06/09/2025     | Advisory vote on the compensation of our named executive officers.                                                                                                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |  95966           |                0 | FOR         |                          95966           | FOR                         |  |
| Reddit, Inc.                        | 75734B100 | 06/09/2025     | Advisory vote on the frequency of future advisory votes on the compensation of our named executive officers.                                                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |  95966           |                0 | ONE YEAR    |                          95966           | FOR                         |  |
| Duolingo, Inc.                      | 26603R106 | 06/11/2025     | To approve, on an advisory (non-binding) basis, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |  48572           |                0 | FOR         |                          48572           | FOR                         |  |
| Freeport-McMoRan Inc.               | 35671D857 | 06/11/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |  48260           |                0 | FOR         |                          48260           | FOR                         |  |
| Nasdaq, Inc.                        | 631103108 | 06/11/2025     | Advisory vote to approve the Company's executive compensation as presented in the Proxy Statement                                                                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES | 118419           |                0 | FOR         |                         118419           | FOR                         |  |
| Dollar Tree, Inc.                   | 256746108 | 06/19/2025     | To approve, by a non-binding advisory vote, the compensation of the Company's named executive officers.                                                                                                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |  12070           |                0 | FOR         |                          12070           | FOR                         |  |
| Cava Group, Inc.                    | 148929102 | 06/20/2025     | Approval of, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES | 323477           |                0 | FOR         |                         323477           | FOR                         |  |
| Cava Group, Inc.                    | 148929102 | 06/20/2025     | Approval of, on an advisory basis, the frequency of future advisory votes to approve the compensation of our named executive officers.                                                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES | 323477           |                0 | ONE YEAR    |                         323477           | FOR                         |  |
| NVIDIA Corporation                  | 67066G104 | 06/25/2025     | Advisory approval of our executive compensation.                                                                                                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |  52263           |                0 | FOR         |                          52263           | FOR                         |  |
| The Kroger Co.                      | 501044101 | 06/26/2025     | Approval, on an advisory basis, of Kroger's executive compensation.                                                                                                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |  46723           |                0 | FOR         |                          46723           | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Aperture Investors, LLC

**By (Signature):** Ryan MacDonald

**By (Printed Signature):** Ryan MacDonald

**By (Title):** Chief Compliance Officer

**Date:** 08/27/2025