Smead Value Fund (SMVLX) N-PX Annual report of proxy voting record

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number:811-22985

SMEAD FUNDS TRUST

(Exact name of registrant as specified in charter)

1001 Fourth Avenue, Suite 4305

Seattle, WA 98154

(Address of principal executive offices) (Zip code)

Cole W. Smead

Smead Capital Management, Inc.

1001 Fourth Avenue, Suite 4305

Seattle, WA 98154

Copy to:

Pamela M. Krill, Esq.

Godfrey & Kahn, S.C.

833 East Michigan Street, Suite 1800

Milwaukee, WI 53202

(Name and address of agent for service)

Registrant’s telephone number, including area code: (877)807-4122

Date of fiscal year end: November 30

Date of reporting period: July 1, 2018-June 30, 2019

Item 1. Proxy Voting Record.

Investment Company Report

THE WALT DISNEY COMPANY
Security	254687106	Meeting Type	Special
Ticker Symbol	DIS	Meeting Date	10-Jul-2018
ISIN	US2546871060	Agenda	934841506 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.	IMPORTANT: The special meeting of stockholders scheduled for July 10, 2018 has been postponed and voting will no longer be processed. A new proxy with a July 27, 2018 meeting date will be sent to stockholders as soon as it is available and a NEW VOTE will be required. If you have already voted the July 10, 2018 proxy, you will need to vote again using the new ballot(s) you will receive for the July 27, 2018 meeting. Your vote is important. Please make sure you vote your new proxy. Thank you.	Management	For	For
2.	IMPORTANT: The special meeting of stockholders scheduled for July 10, 2018 has been postponed and voting will no longer be processed. A new proxy with a July 27, 2018 meeting date will be sent to stockholders as soon as it is available and a NEW VOTE will be required. If you have already voted the July 10, 2018 proxy, you will need to vote again using the new ballot(s) you will receive for the July 27, 2018 meeting. Your vote is important. Please make sure you vote your new proxy. Thank you.	Management	For	For
3.	IMPORTANT: The special meeting of stockholders scheduled for July 10, 2018 has been postponed and voting will no longer be processed. A new proxy with a July 27, 2018 meeting date will be sent to stockholders as soon as it is available and a NEW VOTE will be required. If you have already voted the July 10, 2018 proxy, you will need to vote again using the new ballot(s) you will receive for the July 27, 2018 meeting. Your vote is important. Please make sure you vote your new proxy. Thank you.	Management	For	For

THE WALT DISNEY COMPANY
Security	254687106	Meeting Type	Special
Ticker Symbol	DIS	Meeting Date	27-Jul-2018
ISIN	US2546871060	Agenda	934854197 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.	To approve the issuance of common stock, par value $0.01 per share, of TWDC Holdco 613 Corp. (“New Disney”), to stockholders of Twenty-First Century Fox, Inc. (“21CF”) contemplated by the Amended and Restated Agreement and Plan of Merger, dated as of June 20, 2018, as it may be amended from time to time, by and among 21CF, a Delaware corporation, Disney, a Delaware corporation, New Disney, a Delaware corporation and a wholly owned subsidiary of Disney, WDC Merger Enterprises I, Inc., a ...(due to space limits, see proxy statement for full proposal).	Management	For	For
2.	To approve adjournments of the Disney special meeting, if necessary or appropriate, to solicit additional proxies if there are insufficient votes at the time of the Disney special meeting to approve the share issuance proposal.	Management	For	For

Ticker Symbol	GVMXX	Meeting Date	18-Dec-2018
ISIN	US8574927062	Agenda	934897123 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
2.	DIRECTOR	Management
	1   John R. Costantino		For	For
	2   Michael A. Jessee		For	For
	3   Ellen M. Needham		For	For
	4   Donna M. Rapaccioli		For	For

WALGREENS BOOTS ALLIANCE, INC.
Security	931427108	Meeting Type	Annual
Ticker Symbol	WBA	Meeting Date	25-Jan-2019
ISIN	US9314271084	Agenda	934909827 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Jose E. Almeida	Management	For	For
1b.	Election of Director: Janice M. Babiak	Management	For	For
1c.	Election of Director: David J. Brailer	Management	For	For
1d.	Election of Director: William C. Foote	Management	For	For
1e.	Election of Director: Ginger L. Graham	Management	For	For
1f.	Election of Director: John A. Lederer	Management	For	For
1g.	Election of Director: Dominic P. Murphy	Management	For	For
1h.	Election of Director: Stefano Pessina	Management	For	For
1i.	Election of Director: Leonard D. Schaeffer	Management	For	For
1j.	Election of Director: Nancy M. Schlichting	Management	For	For
1k.	Election of Director: James A. Skinner	Management	For	For
2.	Ratification of the appointment of Deloitte & Touche LLP as the independent registered public accounting firm for fiscal year 2019.	Management	For	For
3.	Advisory vote to approve named executive officer compensation.	Management	For	For
4.	Approval of the amendment and restatement of the Walgreens Boots Alliance, Inc. Employee Stock Purchase Plan.	Management	For	For
5.	Stockholder proposal requesting an independent Board Chairman.	Shareholder	Against	For
6.	Stockholder proposal regarding the use of GAAP financial metrics for purposes of determining senior executive compensation.	Shareholder	Against	For
7.	Stockholder proposal requesting report on governance measures related to opioids.	Shareholder	Against	For
8.	Stockholder proposal regarding the ownership threshold for calling special meetings of stockholders.	Shareholder	Against	For

ACCENTURE PLC
Security	G1151C101	Meeting Type	Annual
Ticker Symbol	ACN	Meeting Date	01-Feb-2019
ISIN	IE00B4BNMY34	Agenda	934912634 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Re-Appointment of Director: Jaime Ardila	Management	For	For
1b.	Re-Appointment of Director: Herbert Hainer	Management	For	For
1c.	Re-Appointment of Director: Marjorie Magner	Management	For	For
1d.	Re-Appointment of Director: Nancy McKinstry	Management	For	For
1e.	Re-Appointment of Director: Pierre Nanterme	Management	For	For
1f.	Re-Appointment of Director: Gilles C. Pelisson	Management	For	For
1g.	Re-Appointment of Director: Paula A. Price	Management	For	For
1h.	Re-Appointment of Director: Venkata (Murthy) Renduchintala	Management	For	For
1i.	Re-Appointment of Director: Arun Sarin	Management	For	For
1j.	Re-Appointment of Director: Frank K. Tang	Management	For	For
1k.	Re-Appointment of Director: Tracey T. Travis	Management	For	For
2.	To approve, in anon-binding vote, the compensation of our named executive officers.	Management	For	For

3.	To ratify, in anon-binding vote, the appointment of KPMG LLP (“KPMG”) as independent auditors of Accenture and to authorize, in a binding vote, the Audit Committee of the Board of Directors to determine KPMG’s remuneration.	Management	For	For
4.	To grant the Board of Directors the authority to issue shares under Irish law.	Management	For	For
5.	To grant the Board of Directors the authority toopt-out ofpre-emption rights under Irish law.	Management	For	For
6.	To determine the price range at which Accenture can re-allot shares that it acquires as treasury shares under Irish law.	Management	For	For

AMERISOURCEBERGEN CORPORATION
Security	03073E105	Meeting Type	Annual
Ticker Symbol	ABC	Meeting Date	28-Feb-2019
ISIN	US03073E1055	Agenda	934920720 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.1	Election of Director: Ornella Barra	Management	For	For
1.2	Election of Director: Steven H. Collis	Management	For	For
1.3	Election of Director: D. Mark Durcan	Management	For	For
1.4	Election of Director: Richard W. Gochnauer	Management	For	For
1.5	Election of Director: Lon R. Greenberg	Management	For	For
1.6	Election of Director: Jane E. Henney, M.D.	Management	For	For
1.7	Election of Director: Kathleen W. Hyle	Management	For	For
1.8	Election of Director: Michael J. Long	Management	For	For
1.9	Election of Director: Henry W. McGee	Management	For	For
2.	Ratification of Ernst & Young LLP as independent registered public accounting firm for fiscal year 2019.	Management	For	For
3.	Advisory vote to approve the compensation of named executive officers.	Management	For	For
4.	Stockholder proposal, if properly presented, to permit stockholders to act by written consent.	Shareholder	Against	For
5.	Stockholder proposal, if properly presented, to urge the Board to adopt a policy that no financial performance metric be adjusted to exclude legal or compliance costs in determining executive compensation.	Shareholder	Against	For

THE WALT DISNEY COMPANY
Security	254687106	Meeting Type	Annual
Ticker Symbol	DIS	Meeting Date	07-Mar-2019
ISIN	US2546871060	Agenda	934921099 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Susan E. Arnold	Management	For	For
1b.	Election of Director: Mary T. Barra	Management	For	For
1c.	Election of Director: Safra A. Catz	Management	For	For
1d.	Election of Director: Francis A. deSouza	Management	For	For
1e.	Election of Director: Michael Froman	Management	For	For
1f.	Election of Director: Robert A. Iger	Management	For	For
1g.	Election of Director: Maria Elena Lagomasino	Management	For	For
1h.	Election of Director: Mark G. Parker	Management	For	For
1i.	Election of Director: Derica W. Rice	Management	For	For
2.	To ratify the appointment of PricewaterhouseCoopers LLP as the Company’s registered public accountants for fiscal 2019.	Management	For	For
3.	To approve the advisory resolution on executive compensation.	Management	For	For
4.	Shareholder proposal requesting an annual report disclosing information regarding the Company’s lobbying policies and activities.	Shareholder	Against	For
5.	Shareholder proposal requesting a report on use of additional cyber security and data privacy metrics in determining compensation of senior executives.	Shareholder	Against	For

STARBUCKS CORPORATION
Security	855244109	Meeting Type	Annual
Ticker Symbol	SBUX	Meeting Date	20-Mar-2019
ISIN	US8552441094	Agenda	934922015 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Rosalind G. Brewer	Management	For	For
1b.	Election of Director: Mary N. Dillon	Management	For	For
1c.	Election of Director: Mellody Hobson	Management	For	For
1d.	Election of Director: Kevin R. Johnson	Management	For	For
1e.	Election of Director: Jorgen Vig Knudstorp	Management	For	For
1f.	Election of Director: Satya Nadella	Management	For	For
1g.	Election of Director: Joshua Cooper Ramo	Management	For	For
1h.	Election of Director: Clara Shih	Management	For	For
1i.	Election of Director: Javier G. Teruel	Management	For	For
1j.	Election of Director: Myron E. Ullman, III	Management	For	For
2.	Advisory resolution to approve our executive officer compensation.	Management	For	For
3.	Ratification of selection of Deloitte & Touche LLP as our independent registered public accounting firm for fiscal 2019.	Management	For	For
4.	True Diversity Board Policy	Shareholder	Against	For
5.	Report on Sustainable Packaging	Shareholder	Against	For

LENNAR CORPORATION
Security	526057104	Meeting Type	Annual
Ticker Symbol	LEN	Meeting Date	10-Apr-2019
ISIN	US5260571048	Agenda	934931292 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.	DIRECTOR	Management
	1   Rick Beckwitt		For	For
	2   Irving Bolotin		For	For
	3   Steven L. Gerard		For	For
	4   Tig Gilliam		For	For
	5   Sherrill W. Hudson		For	For
	6   Jonathan M. Jaffe		For	For
	7   Sidney Lapidus		For	For
	8   Teri P. McClure		For	For
	9   Stuart Miller		For	For
	10   Armando Olivera		For	For
	11   Jeffrey Sonnenfeld		For	For
	12   Scott Stowell		For	For
2.	Ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for our fiscal year ending November 30, 2019.	Management	For	For
3.	Approve, on an advisory basis, the compensation of our named executive officers.	Management	For	For
4.	Vote on a stockholder proposal regarding having directors elected by a majority of the votes cast in uncontested elections.	Shareholder	Against	For

WELLS FARGO & COMPANY
Security	949746101	Meeting Type	Annual
Ticker Symbol	WFC	Meeting Date	23-Apr-2019
ISIN	US9497461015	Agenda	934941584 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: John D. Baker II	Management	For	For
1b.	Election of Director: Celeste A. Clark	Management	For	For
1c.	Election of Director: Theodore F. Craver, Jr.	Management	For	For
1d.	Election of Director: Elizabeth A. Duke	Management	For	For
1e.	Election of Director: Wayne M. Hewett	Management	For	For
1f.	Election of Director: Donald M. James	Management	For	For
1g.	Election of Director: Maria R. Morris	Management	For	For
1h.	Election of Director: Juan A. Pujadas	Management	For	For
1i.	Election of Director: James H. Quigley	Management	For	For
1j.	Election of Director: Ronald L. Sargent	Management	For	For
1k.	Election of Director: C. Allen Parker	Management	For	For
1l.	Election of Director: Suzanne M. Vautrinot	Management	For	For
2.	Advisory resolution to approve executive compensation.	Management	For	For
3.	Approve the Company’s Amended and Restated Long- Term Incentive Compensation Plan.	Management	For	For
4.	Ratify the appointment of KPMG LLP as the Company’s independent registered public accounting firm for 2019.	Management	For	For
5.	Shareholder Proposal - Report on Incentive-Based Compensation and Risks of Material Losses.	Shareholder	Against	For
6.	Shareholder Proposal - Report on Global Median Gender Pay Gap.	Shareholder	Against	For

BANK OF AMERICA CORPORATION
Security	060505104	Meeting Type	Annual
Ticker Symbol	BAC	Meeting Date	24-Apr-2019
ISIN	US0605051046	Agenda	934942360 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Sharon L. Allen	Management	For	For
1b.	Election of Director: Susan S. Bies	Management	For	For
1c.	Election of Director: Jack O. Bovender, Jr.	Management	For	For
1d.	Election of Director: Frank P. Bramble, Sr.	Management	For	For
1e.	Election of Director: Pierre J.P. de Weck	Management	For	For
1f.	Election of Director: Arnold W. Donald	Management	For	For
1g.	Election of Director: Linda P. Hudson	Management	For	For
1h.	Election of Director: Monica C. Lozano	Management	For	For
1i.	Election of Director: Thomas J. May	Management	For	For
1j.	Election of Director: Brian T. Moynihan	Management	For	For
1k.	Election of Director: Lionel L. Nowell III	Management	For	For
1l.	Election of Director: Clayton S. Rose	Management	For	For
1m.	Election of Director: Michael D. White	Management	For	For
1n.	Election of Director: Thomas D. Woods	Management	For	For
1o.	Election of Director: R. David Yost	Management	For	For
1p.	Election of Director: Maria T. Zuber	Management	For	For
2.	Approving Our Executive Compensation (an Advisory,Non- binding “Say on Pay” Resolution)	Management	For	For
3.	Ratifying the Appointment of Our Independent Registered Public Accounting Firm for 2019.	Management	For	For
4.	Amending the Bank of America Corporation Key Employee Equity Plan.	Management	For	For
5.	Report Concerning Gender Pay Equity.	Shareholder	Against	For
6.	Right to Act by Written Consent.	Shareholder	Against	For
7.	Enhance Shareholder Proxy Access.	Shareholder	Against	For

JOHNSON & JOHNSON
Security	478160104	Meeting Type	Annual
Ticker Symbol	JNJ	Meeting Date	25-Apr-2019
ISIN	US4781601046	Agenda	934938638 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Mary C. Beckerle	Management	For	For
1b.	Election of Director: D. Scott Davis	Management	For	For
1c.	Election of Director: Ian E. L. Davis	Management	For	For
1d.	Election of Director: Jennifer A. Doudna	Management	For	For
1e.	Election of Director: Alex Gorsky	Management	For	For
1f.	Election of Director: Marillyn A. Hewson	Management	For	For
1g.	Election of Director: Mark B. McClellan	Management	For	For
1h.	Election of Director: Anne M. Mulcahy	Management	For	For
1i.	Election of Director: William D. Perez	Management	For	For
1j.	Election of Director: Charles Prince	Management	For	For
1k.	Election of Director: A. Eugene Washington	Management	For	For
1l.	Election of Director: Ronald A. Williams	Management	For	For
2.	Advisory Vote to Approve Named Executive Officer Compensation.	Management	For	For
3.	Ratification of Appointment of PricewaterhouseCoopers LLP as the Independent Registered Public Accounting Firm for 2019.	Management	For	For
4.	Shareholder Proposal - Clawback Disclosure	Shareholder	Against	For
5.	Shareholder Proposal - Executive Compensation and Drug Pricing Risks.	Shareholder	Against	For

PFIZER INC.
Security	717081103	Meeting Type	Annual
Ticker Symbol	PFE	Meeting Date	25-Apr-2019
ISIN	US7170811035	Agenda	934942043 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Ronald E. Blaylock	Management	For	For
1b.	Election of Director: Albert Bourla	Management	For	For
1c.	Election of Director: W. Don Cornwell	Management	For	For
1d.	Election of Director: Joseph J. Echevarria	Management	For	For
1e.	Election of Director: Helen H. Hobbs	Management	For	For
1f.	Election of Director: James M. Kilts	Management	For	For
1g.	Election of Director: Dan R. Littman	Management	For	For
1h.	Election of Director: Shantanu Narayen	Management	For	For
1i.	Election of Director: Suzanne Nora Johnson	Management	For	For
1j.	Election of Director: Ian C. Read	Management	For	For
1k.	Election of Director: James C. Smith	Management	For	For
2.	Ratify the selection of KPMG LLP as independent registered public accounting firm for 2019	Management	For	For
3.	2019 Advisory approval of executive compensation	Management	For	For
4.	Approval of the Pfizer Inc. 2019 Stock Plan	Management	For	For
5.	Shareholder proposal regarding right to act by written consent	Shareholder	Against	For
6.	Shareholder proposal regarding report on lobbying activities	Shareholder	Against	For
7.	Shareholder proposal regarding independent chair policy	Shareholder	Against	For
8.	Shareholder proposal regarding integrating drug pricing into executive compensation policies and programs	Shareholder	Against	For

NVR, INC.
Security	62944T105	Meeting Type	Annual
Ticker Symbol	NVR	Meeting Date	02-May-2019
ISIN	US62944T1051	Agenda	934951965 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: C. E. Andrews	Management	For	For
1b.	Election of Director: Thomas D. Eckert	Management	For	For
1c.	Election of Director: Alfred E. Festa	Management	For	For
1d.	Election of Director: Ed Grier	Management	For	For
1e.	Election of Director: Manuel H. Johnson	Management	For	For
1f.	Election of Director: Alexandra A. Jung	Management	For	For
1g.	Election of Director: Mel Martinez	Management	For	For
1h.	Election of Director: William A. Moran	Management	For	For
1i.	Election of Director: David A. Preiser	Management	For	For
1j.	Election of Director: W. Grady Rosier	Management	For	For
1k.	Election of Director: Susan Williamson Ross	Management	For	For
1l.	Election of Director: Dwight C. Schar	Management	For	For
2.	Ratification of appointment of KPMG LLP as independent auditor for the year ending December 31, 2019.	Management	For	For
3.	Advisory vote to approve executive compensation.	Management	For	For

BERKSHIRE HATHAWAY INC.
Security	084670702	Meeting Type	Annual
Ticker Symbol	BRKB	Meeting Date	04-May-2019
ISIN	US0846707026	Agenda	934943362 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.	DIRECTOR	Management
	1   Warren E. Buffett		For	For
	2   Charles T. Munger		For	For
	3   Gregory E. Abel		For	For
	4   Howard G. Buffett		For	For
	5   Stephen B. Burke		For	For
	6   Susan L. Decker		For	For
	7   William H. Gates III		For	For
	8   David S. Gottesman		For	For
	9   Charlotte Guyman		For	For
	10   Ajit Jain		For	For
	11   Thomas S. Murphy		For	For
	12   Ronald L. Olson		For	For
	13   Walter Scott, Jr.		For	For
	14   Meryl B. Witmer		For	For

AFLAC INCORPORATED
Security	001055102	Meeting Type	Annual
Ticker Symbol	AFL	Meeting Date	06-May-2019
ISIN	US0010551028	Agenda	934949201 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Daniel P. Amos	Management	For	For
1b.	Election of Director: W. Paul Bowers	Management	For	For
1c.	Election of Director: Toshihiko Fukuzawa	Management	For	For
1d.	Election of Director: Robert B. Johnson	Management	For	For
1e.	Election of Director: Thomas J. Kenny	Management	For	For
1f.	Election of Director: Georgette D. Kiser	Management	For	For
1g.	Election of Director: Karole F. Lloyd	Management	For	For
1h.	Election of Director: Joseph L. Moskowitz	Management	For	For
1i.	Election of Director: Barbara K. Rimer, DrPH	Management	For	For
1j.	Election of Director: Katherine T. Rohrer	Management	For	For
1k.	Election of Director: Melvin T. Stith	Management	For	For
2.	To consider the followingnon-binding advisory proposal: “Resolved, on an advisory basis, the shareholders of Aflac Incorporated approve the compensation of the named executives, as disclosed pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis and accompanying tables and narrative of the Notice of 2019 Annual Meeting of Shareholders and Proxy Statement”	Management	For	For
3.	To consider and act upon the ratification of the appointment of KPMG LLP as independent registered public accounting firm of the Company for the year ending December 31, 2019	Management	For	For

AMERICAN EXPRESS COMPANY
Security	025816109	Meeting Type	Annual
Ticker Symbol	AXP	Meeting Date	07-May-2019
ISIN	US0258161092	Agenda	934951953 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Charlene Barshefsky	Management	For	For
1b.	Election of Director: John J. Brennan	Management	For	For
1c.	Election of Director: Peter Chernin	Management	For	For
1d.	Election of Director: Ralph de la Vega	Management	For	For
1e.	Election of Director: Anne Lauvergeon	Management	For	For
1f.	Election of Director: Michael O. Leavitt	Management	For	For
1g.	Election of Director: Theodore J. Leonsis	Management	For	For
1h.	Election of Director: Stephen J. Squeri	Management	For	For
1i.	Election of Director: Daniel L. Vasella	Management	For	For
1j.	Election of Director: Ronald A. Williams	Management	For	For
1k.	Election of Director: Christopher D. Young	Management	For	For
2.	Ratification of appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2019.	Management	For	For
3.	Approval, on an advisory basis, of the Company’s executive compensation.	Management	For	For
4.	Shareholder proposal relating to action by written consent.	Shareholder	Against	For
5.	Shareholder proposal relating to deducting the stock buyback impact from executive pay.	Shareholder	Against	For
6.	Shareholder proposal relating to gender pay equity.	Shareholder	Against	For

DISCOVERY, INC.
Security	25470F104	Meeting Type	Annual
Ticker Symbol	DISCA	Meeting Date	08-May-2019
ISIN	US25470F1049	Agenda	934960659 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.	DIRECTOR	Management
	1   Paul A. Gould		For	For
	2   Kenneth W. Lowe		For	For
	3   Daniel E. Sanchez		For	For
2.	Ratification of the appointment of PricewaterhouseCoopers LLP as Discovery, Inc.’s independent registered public accounting firm for the fiscal year ending December 31, 2019.	Management	For	For
3.	To vote on a stockholder proposal regarding simple majority vote, if properly presented.	Shareholder	Against	For
4.	To vote on a stockholder proposal regarding disclosure of diversity and qualifications of Discovery, Inc. directors and director candidates, if properly presented.	Shareholder	Against	For

CUMMINS INC.
Security	231021106	Meeting Type	Annual
Ticker Symbol	CMI	Meeting Date	14-May-2019
ISIN	US2310211063	Agenda	934957082 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1)	Election of Director: N. Thomas Linebarger	Management	For	For
2)	Election of Director: Richard J. Freeland	Management	For	For
3)	Election of Director: Robert J. Bernhard	Management	For	For
4)	Election of Director: Dr. Franklin R. Chang Diaz	Management	For	For
5)	Election of Director: Bruno V. Di Leo Allen	Management	For	For
6)	Election of Director: Stephen B. Dobbs	Management	For	For
7)	Election of Director: Robert K. Herdman	Management	For	For
8)	Election of Director: Alexis M. Herman	Management	For	For
9)	Election of Director: Thomas J. Lynch	Management	For	For
10)	Election of Director: William I. Miller	Management	For	For

11)	Election of Director: Georgia R. Nelson	Management	For	For
12)	Election of Director: Karen H. Quintos	Management	For	For
13)	Advisory vote to approve the compensation of our named executive officers as disclosed in the proxy statement.	Management	For	For
14)	Proposal to ratify the appointment of PricewaterhouseCoopers LLP as our auditors for 2019.	Management	For	For
15)	Proposal to approve the Cummins Inc. Employee Stock Purchase Plan, as amended.	Management	For	For
16)	The shareholder proposal regarding an independent chairman of the board.	Shareholder	Against	For

JPMORGAN CHASE & CO.
Security	46625H100	Meeting Type	Annual
Ticker Symbol	JPM	Meeting Date	21-May-2019
ISIN	US46625H1005	Agenda	934979088 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Linda B. Bammann	Management	For	For
1b.	Election of Director: James A. Bell	Management	For	For
1c.	Election of Director: Stephen B. Burke	Management	For	For
1d.	Election of Director: Todd A. Combs	Management	For	For
1e.	Election of Director: James S. Crown	Management	For	For
1f.	Election of Director: James Dimon	Management	For	For
1g.	Election of Director: Timothy P. Flynn	Management	For	For
1h.	Election of Director: Mellody Hobson	Management	For	For
1i.	Election of Director: Laban P. Jackson, Jr.	Management	For	For
1j.	Election of Director: Michael A. Neal	Management	For	For
1k.	Election of Director: Lee R. Raymond	Management	For	For
2.	Advisory resolution to approve executive compensation	Management	For	For
3.	Ratification of independent registered public accounting firm	Management	For	For
4.	Gender pay equity report	Shareholder	Against	For
5.	Enhance shareholder proxy access	Shareholder	Against	For
6.	Cumulative voting	Shareholder	Against	For

AMGEN INC.
Security	031162100	Meeting Type	Annual
Ticker Symbol	AMGN	Meeting Date	21-May-2019
ISIN	US0311621009	Agenda	934979266 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Dr. Wanda M. Austin	Management	For	For
1b.	Election of Director: Mr. Robert A. Bradway	Management	For	For
1c.	Election of Director: Dr. Brian J. Druker	Management	For	For
1d.	Election of Director: Mr. Robert A. Eckert	Management	For	For
1e.	Election of Director: Mr. Greg C. Garland	Management	For	For
1f.	Election of Director: Mr. Fred Hassan	Management	For	For
1g.	Election of Director: Dr. Rebecca M. Henderson	Management	For	For
1h.	Election of Director: Mr. Charles M. Holley, Jr.	Management	For	For
1i.	Election of Director: Dr. Tyler Jacks	Management	For	For
1j.	Election of Director: Ms. Ellen J. Kullman	Management	For	For
1k.	Election of Director: Dr. Ronald D. Sugar	Management	For	For
1l.	Election of Director: Dr. R. Sanders Williams	Management	For	For
2.	Advisory vote to approve our executive compensation.	Management	For	For
3.	To ratify the selection of Ernst & Young LLP as our independent registered public accountants for the fiscal year ending December 31, 2019.	Management	For	For

PAYPAL HOLDINGS, INC.
Security	70450Y103	Meeting Type	Annual
Ticker Symbol	PYPL	Meeting Date	22-May-2019
ISIN	US70450Y1038	Agenda	934983316 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Rodney C. Adkins	Management	For	For
1b.	Election of Director: Wences Casares	Management	For	For
1c.	Election of Director: Jonathan Christodoro	Management	For	For
1d.	Election of Director: John J. Donahoe	Management	For	For
1e.	Election of Director: David W. Dorman	Management	For	For
1f.	Election of Director: Belinda J. Johnson	Management	For	For
1g.	Election of Director: Gail J. McGovern	Management	For	For
1h.	Election of Director: Deborah M. Messemer	Management	For	For
1i.	Election of Director: David M. Moffett	Management	For	For
1j.	Election of Director: Ann M. Sarnoff	Management	For	For
1k.	Election of Director: Daniel H. Schulman	Management	For	For
1l.	Election of Director: Frank D. Yeary	Management	For	For
2.	Advisory vote to approve named executive officer compensation.	Management	For	For
3.	Ratification of the appointment of PricewaterhouseCoopers LLP as our independent auditor for 2019.	Management	For	For
4.	Stockholder proposal regarding political disclosure.	Shareholder	Against	For
5.	Stockholder proposal regarding human and indigenous peoples’ rights.	Shareholder	Against	For

THE HOME DEPOT, INC.
Security	437076102	Meeting Type	Annual
Ticker Symbol	HD	Meeting Date	23-May-2019
ISIN	US4370761029	Agenda	934976157 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Gerard J. Arpey	Management	For	For
1b.	Election of Director: Ari Bousbib	Management	For	For
1c.	Election of Director: Jeffery H. Boyd	Management	For	For
1d.	Election of Director: Gregory D. Brenneman	Management	For	For
1e.	Election of Director: J. Frank Brown	Management	For	For
1f.	Election of Director: Albert P. Carey	Management	For	For
1g.	Election of Director: Helena B. Foulkes	Management	For	For
1h.	Election of Director: Linda R. Gooden	Management	For	For
1i.	Election of Director: Wayne M. Hewett	Management	For	For
1j.	Election of Director: Manuel Kadre	Management	For	For
1k.	Election of Director: Stephanie C. Linnartz	Management	For	For
1l.	Election of Director: Craig A. Menear	Management	For	For
2.	Ratification of the Appointment of KPMG LLP	Management	For	For
3.	Advisory Vote to Approve Executive Compensation(“Say-on-Pay”)	Management	For	For
4.	Shareholder Proposal RegardingEEO-1 Disclosure	Shareholder	Against	For
5.	Shareholder Proposal to Reduce the Threshold to Call Special Shareholder Meetings to 10% of Outstanding Shares	Shareholder	Against	For
6.	Shareholder Proposal Regarding Report on Prison Labor in the Supply Chain	Shareholder	Against	For

MERCK & CO., INC.
Security	58933Y105	Meeting Type	Annual
Ticker Symbol	MRK	Meeting Date	28-May-2019
ISIN	US58933Y1055	Agenda	934988328 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Leslie A. Brun	Management	For	For
1b.	Election of Director: Thomas R. Cech	Management	For	For
1c.	Election of Director: Mary Ellen Coe	Management	For	For
1d.	Election of Director: Pamela J. Craig	Management	For	For
1e.	Election of Director: Kenneth C. Frazier	Management	For	For
1f.	Election of Director: Thomas H. Glocer	Management	For	For
1g.	Election of Director: Rochelle B. Lazarus	Management	For	For
1h.	Election of Director: Paul B. Rothman	Management	For	For
1i.	Election of Director: Patricia F. Russo	Management	For	For
1j.	Election of Director: Inge G. Thulin	Management	For	For
1k.	Election of Director: Wendell P. Weeks	Management	For	For
1l.	Election of Director: Peter C. Wendell	Management	For	For
2.	Non-binding advisory vote to approve the compensation of our named executive officers.	Management	For	For
3.	Proposal to adopt the 2019 Incentive Stock Plan.	Management	For	For
4.	Ratification of the appointment of the Company’s independent registered public accounting firm for 2019.	Management	For	For
5.	Shareholder proposal concerning an independent board chairman.	Shareholder	Against	For
6.	Shareholder proposal concerning executive incentives and stock buybacks.	Shareholder	Against	For
7.	Shareholder proposal concerning drug pricing.	Shareholder	Against	For

EBAY INC.
Security	278642103	Meeting Type	Annual
Ticker Symbol	EBAY	Meeting Date	30-May-2019
ISIN	US2786421030	Agenda	934993583 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Fred D. Anderson Jr.	Management	For	For
1b.	Election of Director: Anthony J. Bates	Management	For	For
1c.	Election of Director: Adriane M. Brown	Management	For	For
1d.	Election of Director: Jesse A. Cohn	Management	For	For
1e.	Election of Director: Diana Farrell	Management	For	For
1f.	Election of Director: Logan D. Green	Management	For	For
1g.	Election of Director: Bonnie S. Hammer	Management	For	For
1h.	Election of Director: Kathleen C. Mitic	Management	For	For
1i.	Election of Director: Matthew J. Murphy	Management	For	For
1j.	Election of Director: Pierre M. Omidyar	Management	For	For
1k.	Election of Director: Paul S. Pressler	Management	For	For
1l.	Election of Director: Robert H. Swan	Management	For	For
1m.	Election of Director: Thomas J. Tierney	Management	For	For
1n.	Election of Director: Perry M. Traquina	Management	For	For
1o.	Election of Director: Devin N. Wenig	Management	For	For
2.	Advisory vote to approve named executive officer compensation.	Management	For	For
3.	Ratification of appointment of independent auditors.	Management	For	For
4.	Management proposal to amend special meeting provisions in the Company’s charter and bylaws.	Management	For	For
5.	Stockholder proposal requesting that the Board require an independent chair, if properly presented.	Shareholder	Against	For

COMCAST CORPORATION
Security	20030N101	Meeting Type	Annual
Ticker Symbol	CMCSA	Meeting Date	05-Jun-2019
ISIN	US20030N1019	Agenda	935008284 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.	DIRECTOR	Management
	1   Kenneth J. Bacon		For	For
	2   Madeline S. Bell		For	For
	3   Sheldon M. Bonovitz		For	For
	4   Edward D. Breen		For	For
	5   Gerald L. Hassell		For	For
	6   Jeffrey A. Honickman		For	For
	7   Maritza G. Montiel		For	For
	8   Asuka Nakahara		For	For
	9   David C. Novak		For	For
	10   Brian L. Roberts		For	For
2.	Ratification of the appointment of our independent auditors	Management	For	For
3.	Approval of Comcast Corporation 2019 Omnibus Sharesave Plan	Management	For	For
4.	Advisory vote on executive compensation	Management	For	For
5.	To require an independent board chairman	Shareholder	Against	For
6.	To provide a lobbying report	Shareholder	Against	For

BOOKING HOLDINGS INC.
Security	09857L108	Meeting Type	Annual
Ticker Symbol	BKNG	Meeting Date	06-Jun-2019
ISIN	US09857L1089	Agenda	935004957 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1.	DIRECTOR	Management
	1   Timothy M. Armstrong		For	For
	2   Jeffery H. Boyd		For	For
	3   Glenn D. Fogel		For	For
	4   Mirian Graddick-Weir		For	For
	5   James M. Guyette		For	For
	6   Wei Hopeman		For	For
	7   Robert J. Mylod, Jr.		For	For
	8   Charles H. Noski		For	For
	9   Nancy B. Peretsman		For	For
	10   Nicholas J. Read		For	For
	11   Thomas E. Rothman		For	For
	12   Lynn M. Vojvodich		For	For
	13   Vanessa A. Wittman		For	For
2.	Ratification of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2019.	Management	For	For
3.	Advisory Vote to Approve 2018 Executive Compensation.	Management	For	For
4.	Stockholder Proposal requesting that the Company amend its proxy access bylaw.	Shareholder	Against	For

TARGET CORPORATION
Security	87612E106	Meeting Type	Annual
Ticker Symbol	TGT	Meeting Date	12-Jun-2019
ISIN	US87612E1064	Agenda	935008222 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Roxanne S. Austin	Management	For	For
1b.	Election of Director: Douglas M. Baker, Jr.	Management	For	For
1c.	Election of Director: George S. Barrett	Management	For	For
1d.	Election of Director: Brian C. Cornell	Management	For	For
1e.	Election of Director: Calvin Darden	Management	For	For
1f.	Election of Director: Henrique De Castro	Management	For	For
1g.	Election of Director: Robert L. Edwards	Management	For	For
1h.	Election of Director: Melanie L. Healey	Management	For	For
1i.	Election of Director: Donald R. Knauss	Management	For	For
1j.	Election of Director: Monica C. Lozano	Management	For	For
1k.	Election of Director: Mary E. Minnick	Management	For	For
1l.	Election of Director: Kenneth L. Salazar	Management	For	For
1m.	Election of Director: Dmitri L. Stockton	Management	For	For
2.	Company proposal to ratify the appointment of Ernst & Young LLP as our independent registered public accounting firm.	Management	For	For
3.	Company proposal to approve, on an advisory basis, our executive compensation (Say on Pay).	Management	For	For
4.	Shareholder proposal to amend the proxy access bylaw to remove candidate resubmission threshold.	Shareholder	Against	For

THE KROGER CO.
Security	501044101	Meeting Type	Annual
Ticker Symbol	KR	Meeting Date	27-Jun-2019
ISIN	US5010441013	Agenda	935024101 - Management

Item	Proposal	Proposed by	Vote	For/Against Management
1a.	Election of Director: Nora A. Aufreiter	Management	For	For
1b.	Election of Director: Anne Gates	Management	For	For
1c.	Election of Director: Susan J. Kropf	Management	For	For
1d.	Election of Director: W. Rodney McMullen	Management	For	For
1e.	Election of Director: Jorge P. Montoya	Management	For	For
1f.	Election of Director: Clyde R. Moore	Management	For	For
1g.	Election of Director: James A. Runde	Management	For	For
1h.	Election of Director: Ronald L. Sargent	Management	For	For
1i.	Election of Director: Bobby S. Shackouls	Management	For	For
1j.	Election of Director: Mark S. Sutton	Management	For	For
1k.	Election of Director: Ashok Vemuri	Management	For	For
2.	Approval, on an advisory basis, of Kroger’s executive compensation.	Management	For	For
3.	Approval of Kroger’s 2019 Long-Term Incentive Plan.	Management	For	For
4.	Approval of an amendment to Kroger’s Regulations to permit Board amendments in accordance with Ohio law.	Management	For	For
5.	Ratification of PricewaterhouseCoopers LLP, as auditors.	Management	For	For
6.	A shareholder proposal, if properly presented, to issue a report assessing the environmental impacts of using unrecyclable packaging for private label brands.	Shareholder	Against	For
7.	A shareholder proposal, if properly presented, to adopt a policy and amend the bylaws as necessary to require the Chair of the Board to be independent.	Shareholder	Against	For

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant)	Smead Funds Trust
By (Signature and Title)	/s/ Steven J. LeMire
	Steven J. LeMire, Chief Financial Officer and Treasurer
Date	July 12, 2019