# EDGAR Filing Document

**Accession Number:** 0001545440
**File Stem:** 0001580642-25-005176
**Filing Date:** 2025-8
**Character Count:** 110254
**Document Hash:** 1d165efd727cc0171886db993d6e3ccf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-25-005176.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001580642-25-005176

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**EFFECTIVENESS DATE**: 20250815

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Ultimus Managers Trust
- **CENTRAL INDEX KEY:** 0001545440

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22680
- **FILM NUMBER:** 251224221

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

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

## N-PX: Filer Information

**Filer CIK:** 0001545440

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

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

**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:** Ultimus Managers Trust

**Address:** 225 PICTORIA DRIVE, CINCINNATI, OH 45246

**Telephone number:** 513-587-3400

**Name of agent for service:** Karen Jacoppo-Wood

**Agent Address:** Ultimus Fund Solutions, LLC, CINCINNATI, OH 45246

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

**SEC File Number:** 811-22680

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

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

Institutional Manager.

- [ ] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [x] 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   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Class III Directors of the Company for a term of three years and until their respective successors are duly elected and qualified or their earlier resignation or removal: John L. Bunce, Jr.  | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Class III Directors of the Company for a term of three years and until their respective successors are duly elected and qualified or their earlier resignation or removal: Moira Kilcoyne      | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Class III Directors of the Company for a term of three years and until their respective successors are duly elected and qualified or their earlier resignation or removal: Alexander Moczarski | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Class III Directors of the Company for a term of three years and until their respective successors are duly elected and qualified or their earlier resignation or removal: Nicolas Papadopoulo | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES            |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To appoint PricewaterhouseCoopers LLP as our independent registered public accounting firm for the year ending December 31, 2025.                                                                                              | AUDIT-RELATED                           |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Brian Chen                                                                         | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Crystal Doughty                                                                    | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Matthew Dragonetti                                                                 | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Seamus Fearon                                                                      | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Jerome Halgan                                                                      | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Chris Hovey                                                                        | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Francois Morin                                                                     | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: David J. Mulholland                                                                | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Chiara Nannini                                                                     | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Maamoun Rajeh                                                                      | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: William Soares                                                                     | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Alan Tiernan                                                                       | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To elect the nominees listed as Designated Company Directors so that they may be elected directors of certain of our non-U.S. subsidiaries: Christine Todd                                                                     | DIRECTOR ELECTIONS                      |         462778 |                0 | For         |                                   462778 | FOR                         |  |
| Arch Capital Group Ltd.                      | G0450A105 | 05/07/2025     | To vote on a shareholder proposal requesting that the Company report to shareholders on the effectiveness of its diversity, equity and inclusion efforts, if properly presented at the Meeting.                                | DIVERSITY, EQUITY, AND INCLUSION        |         462778 |                0 | Against     |                                   462778 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director Philip B. Daniele, III                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director Michael A. George                                                                                                                                                                                               | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director Linda A. Goodspeed                                                                                                                                                                                              | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director Earl G. Graves, Jr.                                                                                                                                                                                             | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director Brian P. Hannasch                                                                                                                                                                                               | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director Gale V. King                                                                                                                                                                                                    | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director George R. Mrkonic, Jr.                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director William C. Rhodes, III                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Elect Director Jill A. Soltau                                                                                                                                                                                                  | DIRECTOR ELECTIONS                      |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Ratify Ernst  Young LLP as Auditors                                                                                                                                                                                            | AUDIT-RELATED                           |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Advisory Vote to Ratify Named Executive Officers' Compensation                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES            |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Reduce Ownership Threshold for Shareholders to Call Special Meeting to 25%                                                                                                                                                     | SHAREHOLDER RIGHTS AND DEFENSES         |          28347 |                0 | For         |                                    28347 | FOR                         |  |
| AutoZone, Inc.                               | 053332102 | 12/18/2024     | Provide Right to Call a Special Meeting at a 10 Percent Ownership Threshold                                                                                                                                                    | SHAREHOLDER RIGHTS AND DEFENSES         |          28347 |                0 | Against     |                                    28347 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Jennifer W. Rumsey                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Gary L. Belske                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Robert J. Bernhard                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Bruno V. Di Leo Allen                                                                                                                                                                                   | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Daniel W. Fisher                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Carla A. Harris                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Thomas J. Lynch                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: William I. Miller                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Kimberly A. Nelson                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: Karen H. Quintos                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Election of Directors: John H. Stone                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Advisory vote to approve the compensation of our named executive officers as disclosed in the proxy statement.                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES            |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | Proposal to ratify the appointment of PricewaterhouseCoopers LLP as our auditors for 2025.                                                                                                                                     | AUDIT-RELATED                           |         179694 |                0 | For         |                                   179694 | FOR                         |  |
| Cummins Inc.                                 | 231021106 | 05/13/2025     | The shareholder proposal regarding an independent Chairman of the Board.                                                                                                                                                       | CORPORATE GOVERNANCE                    |         179694 |                0 | Against     |                                   179694 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect David A. Brandon                                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect C. Andrew Ballard                                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect Andrew B. Balson                                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect Corie S. Barry                                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect Diane L Cafritz                                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect Richard L. Federico                                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect James A. Goldman                                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect Patricia E. Lopez                                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Elect Russell J. Weiner                                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Ratification of the selection of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the Company for the 2025 fiscal year.                                                                     | AUDIT-RELATED                           |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Advisory vote to approve the compensation of the named executive officers of the Company.                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES            |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Approval of the adoption of the Company's Amended and Restated Certificate of Incorporation to eliminate the supermajority voting requirement.                                                                                 | SHAREHOLDER RIGHTS AND DEFENSES         |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Approval of the adoption of the Company's Amended and Restated Certificate of Incorporation to provide shareholders the right to call a special meeting at a 25% threshold.                                                    | SHAREHOLDER RIGHTS AND DEFENSES         |         109293 |                0 | For         |                                   109293 | FOR                         |  |
| Domino's Pizza, Inc.                         | 25754A201 | 04/23/2025     | Shareholder proposal regarding shareholder right to call a special meeting at a 15% threshold.                                                                                                                                 | SHAREHOLDER RIGHTS AND DEFENSES         |         109293 |                0 | Against     |                                   109293 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Glenn M. Alger                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Robert P. Carlile                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: James M. DuBois                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Mark A. Emmert                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Diane H. Gulyas                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Brandon S. Pedersen                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Liane J. Pelletier                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Olivia D. Polius                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Election of Directors: Daniel R. Wall                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Advisory Vote to Approve Named Executive Officer Compensation.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES            |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Expeditors International of Washington, Inc. | 302130109 | 05/06/2025     | Ratification of Independent Registered Public Accounting Firm.                                                                                                                                                                 | AUDIT-RELATED                           |         299867 |                0 | For         |                                   299867 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Scott A. Satterlee                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Michael J. Ancius                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Stephen L. Eastman                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Brady D. Ericson                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Daniel L. Florness                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Rita J. Heise                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Hsenghung Sam Hsu                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Daniel L. Johnson                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Sarah N. Nielsen                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Irene A. Quarshie                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Election of Directors: Reyne K. Wisecup                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Ratification of the appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for the 2025 fiscal year.                                                                                       | AUDIT-RELATED                           |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Fastenal Company                             | 311900104 | 04/24/2025     | Approval, by non-binding vote, of executive compensation.                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES            |         366119 |                0 | For         |                                   366119 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Merit E. Janow                                                                                                                                                       | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Candido Bracher                                                                                                                                                      | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Richard K. Davis                                                                                                                                                     | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Julius Genachowski                                                                                                                                                   | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Choon Phong Goh                                                                                                                                                      | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Oki Matsumoto                                                                                                                                                        | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Michael Miebach                                                                                                                                                      | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Youngme Moon                                                                                                                                                         | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Rima Qureshi                                                                                                                                                         | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Gabrielle Sulzberger                                                                                                                                                 | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Harit Talwar                                                                                                                                                         | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Election Of Directors To Serve On The Board Of Directors: Lance Uggla                                                                                                                                                          | DIRECTOR ELECTIONS                      |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Advisory approval of Mastercard's executive compensation                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES            |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Ratification of the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for Mastercard for 2025                                                                                     | AUDIT-RELATED                           |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Approval of an amendment to Mastercard's Amended and Restated Certificate of Incorporation to limit liability of officers as permitted by Delaware law                                                                         | CORPORATE GOVERNANCE                    |         109194 |                0 | Against     |                                   109194 | AGAINST                     |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Approval of an amendment to Mastercard's Amended and Restated Certificate of Incorporation to remove the Industry Director concept                                                                                             | CORPORATE GOVERNANCE                    |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Approval of an amendment to Mastercard's Amended and Restated Certificate of Incorporation to implement other miscellaneous changes                                                                                            | CORPORATE GOVERNANCE                    |         109194 |                0 | For         |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Consideration of a stockholder proposal requesting a racial equity audit report                                                                                                                                                | DIVERSITY, EQUITY, AND INCLUSION        |         109194 |                0 | Against     |                                   109194 | FOR                         |  |
| Mastercard Incorporated                      | 57636Q104 | 06/24/2025     | Consideration of a stockholder proposal requesting a report on affirmative action risks                                                                                                                                        | DIVERSITY, EQUITY, AND INCLUSION        |         109194 |                0 | Against     |                                   109194 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Jorge A. Bermudez                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Therese Esperdy                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Robert Fauber                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Vincent A. Forlenza                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Lloyd W. Howell, Jr.                                                                                                                                                                                    | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Jose M. Minaya                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Leslie F. Seidman                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |          80800 |                0 | Against     |                                    80800 | AGAINST                     |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Zig Serafin                                                                                                                                                                                             | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Election of Directors: Bruce Van Saun                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Ratification of the appointment of KPMG LLP as independent registered public accounting firm of the Company for 2025.                                                                                                          | AUDIT-RELATED                           |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Advisory resolution approving executive compensation.                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES            |          80800 |                0 | For         |                                    80800 | FOR                         |  |
| Moody's Corporation                          | 615369105 | 04/15/2025     | Stockholder proposal requesting stockholder ratification of certain executive severance arrangements.                                                                                                                          | COMPENSATION                            |          80800 |                0 | Against     |                                    80800 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: Paul C. Saville                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: C. E. Andrews                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: Sallie B. Bailey                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: Alfred E. Festa                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: Alexandra A. Jung                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: Mel Martinez                                                                                                                                                                                            | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: David A. Preiser                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: W. Grady Rosier                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Election of Directors: Susan Williamson Ross                                                                                                                                                                                   | DIRECTOR ELECTIONS                      |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Ratification of appointment of KPMG LLP as independent auditor for the year ending December 31, 2025.                                                                                                                          | AUDIT-RELATED                           |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Advisory vote to approve compensation paid to certain executive officers.                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES            |           3750 |                0 | For         |                                     3750 | FOR                         |  |
| NVR, Inc.                                    | 62944T105 | 05/06/2025     | Shareholder proposal to provide shareholders with the right to call a special meeting.                                                                                                                                         | SHAREHOLDER RIGHTS AND DEFENSES         |           3750 |                0 | Against     |                                     3750 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: Greg Henslee                                                                                                                                                                                    | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: David O Reilly                                                                                                                                                                                  | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: Thomas T. Hendrickson                                                                                                                                                                           | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: Kimberly A. deBeers                                                                                                                                                                             | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: Gregory D. Johnson                                                                                                                                                                              | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: John R. Murphy                                                                                                                                                                                  | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: Dana M. Perlman                                                                                                                                                                                 | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: Maria A. Sastre                                                                                                                                                                                 | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Election of Director Nominees: Fred Whitfield                                                                                                                                                                                  | DIRECTOR ELECTIONS                      |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Advisory vote to approve executive compensation.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES            |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Amend the Articles of Incorporation to increase the number of authorized shares of common stock.                                                                                                                               | CAPITAL STRUCTURE                       |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Ratification of appointment of Ernst  Young LLP as independent auditors for the fiscal year ending December 31, 2025.                                                                                                          | AUDIT-RELATED                           |          56913 |                0 | For         |                                    56913 | FOR                         |  |
| O'Reilly Automotive, Inc.                    | 67103H107 | 05/15/2025     | Shareholder proposal entitled "Support Improved Clawback Policy for Unearned Executive Pay."                                                                                                                                   | COMPENSATION                            |          56913 |                0 | Against     |                                    56913 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Michael Balmuth                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: K. Gunnar Bjorklund                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Michael J. Bush                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Edward G. Cannizzaro                                                                                                                                                                                    | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: James G. Conroy                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Sharon D. Garrett                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Michael J. Hartshorn                                                                                                                                                                                    | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Stephen D. Milligan                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Patricia H. Mueller                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: George P. Orban                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Election of Directors: Doniel N. Sutton                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | Advisory vote to approve the resolution on the compensation of the named executive officers.                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES            |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Ross Stores, Inc.                            | 778296103 | 05/21/2025     | To ratify the appointment of Deloitte  Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending January 31, 2026.                                                                  | AUDIT-RELATED                           |         661944 |                0 | For         |                                   661944 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Dr. Charlotte F. Beason                                                                                                                                                                                 | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Rita D. Brogley                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Gregory W. Cappelli                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Viet D. Dinh                                                                                                                                                                                            | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Robert R. Grusky                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Jerry L. Johnson                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Karl McDonnell                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Dr. Michael A. McRobbie                                                                                                                                                                                 | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Dr. Benjamin E. Sasse                                                                                                                                                                                   | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Robert S. Silberman                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: William J. Slocum                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: Micheal J. Thawley                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | Election of Directors: G. Thomas Waite, III                                                                                                                                                                                    | DIRECTOR ELECTIONS                      |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | To Ratify The Appointment Of Deloitte  Touche LLP As The Company's Independent Registered Public Accounting Firm For The Fiscal Year Ending December 31, 2025.                                                                 | AUDIT-RELATED                           |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | To Approve, On An Advisory Basis, The Compensation Of The Named Executive Officers.                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES            |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| Strategic Education, Inc.                    | 86272C103 | 04/23/2025     | To Approve An Amendment To The Strategic Education, Inc. 2018 Equity Compensation Plan To Increase The Number Of Shares Available For Issuance.                                                                                | COMPENSATION                            |         300900 |                0 | For         |                                   300900 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Philip Bleser                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Stuart B. Burgdoerfer                                                                                                                                                                                   | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Pamela J. Craig                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Charles A. Davis                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Roger N. Farah                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Lawton W. Fitt                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Susan Patricia Griffith                                                                                                                                                                                 | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Devin C. Johnson                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Jeffrey D. Kelly                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Barbara R. Snyder                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Election of Directors: Kahina Van Dyke                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Cast an advisory vote to approve our executive compensation program.                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES            |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The Progressive Corporation                  | 743315103 | 05/09/2025     | Ratify the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2025.                                                                                                            | AUDIT-RELATED                           |         145518 |                0 | For         |                                   145518 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Jose B. Alvarez                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Alan M. Bennett                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Rosemary T. Berkery                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: David T. Ching                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: C. Kim Goodwin                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Ernie Herrman                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Amy B. Lane                                                                                                                                                                                             | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Carol Meyrowitz                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Jackwyn L. Nemerov                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Election of Directors: Charles F. Wagner, Jr.                                                                                                                                                                                  | DIRECTOR ELECTIONS                      |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Ratification of appointment of PricewaterhouseCoopers as TJX's independent registered public accounting firm for fiscal 2026                                                                                                   | AUDIT-RELATED                           |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The TJX Companies, Inc.                      | 872540109 | 06/10/2025     | Advisory approval of TJX's executive compensation (the say-on-pay vote)                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES            |         183948 |                0 | For         |                                   183948 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Mary T. Barra                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Amy L. Chang                                                                                                                                                                                            | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: D. Jeremy Darroch                                                                                                                                                                                       | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Carolyn N. Everson                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Michael B.G. Froman                                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: James P. Gorman                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Robert A. Iger                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Maria Elena Lagomasino                                                                                                                                                                                  | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Calvin R. McDonald                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Election of Directors: Derica W. Rice                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Ratification of the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accountants for fiscal 2025.                                                                                      | AUDIT-RELATED                           |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Consideration of an advisory vote to approve executive compensation.                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES            |         241875 |                0 | For         |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Shareholder proposal, if properly presented at the meeting, requesting a report on climate risks to retirement plan beneficiaries.                                                                                             | ENVIRONMENT OR CLIMATE                  |         241875 |                0 | Against     |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Shareholder proposal, if properly presented at the meeting, requesting consideration of participation in the Human Rights Campaign's Corporate Equality Index.                                                                 | OTHER SOCIAL ISSUES                     |         241875 |                0 | Against     |                                   241875 | FOR                         |  |
| The Walt Disney Company                      | 254687106 | 03/20/2025     | Shareholder proposal, if properly presented at the meeting, requesting a report on risks related to selection of ad buyers and sellers.                                                                                        | OTHER SOCIAL ISSUES                     |         241875 |                0 | Against     |                                   241875 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Lloyd A. Carney                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Kermit R. Crawford                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Francisco Javier Fernandez-Carbajal                                                                                                                                                                     | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Ramon Laguarta                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Teri L. List                                                                                                                                                                                            | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: John F. Lundgren                                                                                                                                                                                        | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Ryan McInerney                                                                                                                                                                                          | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Denise M. Morrison                                                                                                                                                                                      | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Pamela Murphy                                                                                                                                                                                           | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Linda J. Rendle                                                                                                                                                                                         | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Election of Directors: Maynard G. Webb, Jr.                                                                                                                                                                                    | DIRECTOR ELECTIONS                      |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers.                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES            |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | To ratify the appointment of KPMG LLP as our independent registered public accounting firm for fiscal year 2025.                                                                                                               | AUDIT-RELATED                           |         146218 |                0 | For         |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Shareholder proposal on gender-based compensation gaps and associated risks.                                                                                                                                                   | HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE |         146218 |                0 | Against     |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Shareholder proposal requesting a report on policy on merchant category codes.                                                                                                                                                 | OTHER SOCIAL ISSUES                     |         146218 |                0 | Against     |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Shareholder proposal requesting adoption of a new director election resignation governance guideline.                                                                                                                          | SHAREHOLDER RIGHTS AND DEFENSES         |         146218 |                0 | Against     |                                   146218 | FOR                         |  |
| Visa Inc.                                    | 92826C839 | 01/28/2025     | Shareholder proposal on transparency in lobbying.                                                                                                                                                                              | OTHER SOCIAL ISSUES                     |         146218 |                0 | Against     |                                   146218 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Ultimus Managers Trust

**By (Signature):** /s/ Todd E. Heim

**By (Printed Signature):** /s/ Todd E. Heim

**By (Title):** President and Principal Executive Officer

**Date:** 08/15/2025