Smead Value Fund NPX 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)

2777 East Camelback Road, Suite 375

Phoenix, AZ 85016

(Address of principal executive offices) (Zip code)

Cole W. Smead

Smead Capital Management, Inc.

2777 East Camelback Road, Suite 375

Phoenix, AZ 85016

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, 2019-June 30, 2020

Item 1. Proxy Voting Record.


OCCIDENTAL PETROLEUM CORPORATION
Security	674599105	Meeting Type	Contested-Consent

Ticker Symbol	OXY	Meeting Date	31-Dec-2019

ISIN	US6745991058	Agenda	935064559 - Management

Item

Proposal

Proposed
by

Vote

For/Against
Management

YOU MAY REVOKE ANY PREVIOUSLY EXECUTED WRITTEN REQUEST REGARDING THE ICAHN GROUP SOLICITATION FOR THE REQUEST TO FIX A RECORD DATE BY SIGNING, DATING AND DELIVERING THIS WHITE REVOCATION FORM. For = Yes Revoke my Request : Against = No Do Not Revoke my request.

Management

No Action due to contested nature

For


WALGREENS BOOTS ALLIANCE, INC.
Security	931427108	Meeting Type	Annual

Ticker Symbol	WBA	Meeting Date	30-Jan-2020

ISIN	US9314271084	Agenda	935114823 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: José 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: Nancy M. Schlichting	Management	For	For

1J.	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 2020.	Management	For	For

3.	Advisory vote to approve named executive officer compensation.	Management	For	For

4.	Stockholder proposal requesting an independent Board Chairman.	Shareholder	Against	For

5.	Proposal Withdrawn	Shareholder	Against

6.	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	30-Jan-2020

ISIN	IE00B4BNMY34	Agenda	935116118 - 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: Nancy McKinstry	Management	For	For

1D.	Re-appointment of Director: Gilles C. Pélisson	Management	For	For

1E.	Re-appointment of Director: Paula A. Price	Management	For	For

1F.	Re-appointment of Director: Venkata (Murthy) Renduchintala	Management	For	For

1G.	Re-appointment of Director: David Rowland	Management	For	For

1H.	Re-appointment of Director: Arun Sarin	Management	For	For

1I.	Re-appointment of Director: Julie Sweet	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 a non-binding vote, the compensation of our named executive officers.	Management	For	For

3.	To approve the Amended and Restated Accenture plc 2010 Share Incentive Plan.	Management	For	For

4.	To ratify, in a non-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

5.	To grant the Board of Directors the authority to issue shares under Irish law.	Management	For	For

6.	To grant the Board of Directors the authority to opt-out of pre-emption rights under Irish law.	Management	For	For

7.	To determine the price range at which Accenture can re-allot shares that it acquires as treasury shares under Irish law.	Management	For	For


QUALCOMM INCORPORATED
Security	747525103	Meeting Type	Annual

Ticker Symbol	QCOM	Meeting Date	10-Mar-2020

ISIN	US7475251036	Agenda	935123783 - Management


Item	Proposal	Proposed by	Vote	For/Against Management

1A.	Election of Director: Mark Fields	Management	For	For

1B.	Election of Director: Jeffrey W. Henderson	Management	For	For

1C.	Election of Director: Ann M. Livermore	Management	For	For

1D.	Election of Director: Harish Manwani	Management	For	For

1E.	Election of Director: Mark D. McLaughlin	Management	For	For

1F.	Election of Director: Steve Mollenkopf	Management	For	For

1G.	Election of Director: Clark T. Randt, Jr.	Management	For	For

1H.	Election of Director: Irene B. Rosenfeld	Management	For	For

1I.	Election of Director: Kornelis “Neil” Smit	Management	For	For

1J.	Election of Director: Anthony J. Vinciquerra	Management	For	For

2.	To ratify the selection of PricewaterhouseCoopers LLP as our independent public accountants for our fiscal year ending September 27, 2020.	Management	For	For

3.	To approve the amended and restated 2016 Long-Term Incentive Plan, including an increase in the share reserve by 74,500,000 shares.	Management	For	For

4.	To approve, on an advisory basis, our executive compensation.	Management	For	For

5.	To approve, on an advisory basis, the frequency of future advisory votes on our executive compensation.	Management	1 Year	For


THE WALT DISNEY COMPANY
Security	254687106	Meeting Type	Annual

Ticker Symbol	DIS	Meeting Date	11-Mar-2020

ISIN	US2546871060	Agenda	935125648 - 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 B.G. 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 2020.	Management	For	For

3.	To approve the advisory resolution on executive compensation.	Management	For	For

4.	To approve an amendment to the Company’s Amended and Restated 2011 Stock Incentive Plan.	Management	For	For

5.	Shareholder proposal requesting an annual report disclosing information regarding the Company’s lobbying policies and activities.	Shareholder	Against	For


STARBUCKS CORPORATION
Security	855244109	Meeting Type	Annual

Ticker Symbol	SBUX	Meeting Date	18-Mar-2020

ISIN	US8552441094	Agenda	935125066 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: Richard E. Allison, Jr.	Management	For	For

1B.	Election of Director: Rosalind G. Brewer	Management	For	For

1C.	Election of Director: Andrew Campion	Management	For	For

1D.	Election of Director: Mary N. Dillon	Management	For	For

1E.	Election of Director: Isabel Ge Mahe	Management	For	For

1F.	Election of Director: Mellody Hobson	Management	For	For

1G.	Election of Director: Kevin R. Johnson	Management	For	For

1H.	Election of Director: Jørgen Vig Knudstorp	Management	For	For

1I.	Election of Director: Satya Nadella	Management	For	For

1J.	Election of Director: Joshua Cooper Ramo	Management	For	For

1K.	Election of Director: Clara Shih	Management	For	For

1L.	Election of Director: Javier G. Teruel	Management	For	For

1M.	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 2020	Management	For	For

4.	EEO Policy Risk Report	Shareholder	Against	For


LENNAR CORPORATION
Security	526057104	Meeting Type	Annual

Ticker Symbol	LEN	Meeting Date	07-Apr-2020

ISIN	US5260571048	Agenda	935133001 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: Rick Beckwitt	Management	For	For

1B.	Election of Director: Irving Bolotin	Management	For	For

1C.	Election of Director: Steven L. Gerard	Management	For	For

1D.	Election of Director: Tig Gilliam	Management	For	For

1E.	Election of Director: Sherrill W. Hudson	Management	For	For

1F.	Election of Director: Jonathan M. Jaffe	Management	For	For

1G.	Election of Director: Sidney Lapidus	Management	For	For

1H.	Election of Director: Teri P. McClure	Management	For	For

1I.	Election of Director: Stuart Miller	Management	For	For

1J.	Election of Director: Armando Olivera	Management	For	For

1K.	Election of Director: Jeffrey Sonnenfeld	Management	For	For

1L.	Election of Director: Scott Stowell	Management	For	For

2.	Approve, on an advisory basis, the compensation of our named executive officers.	Management	For	For

3.	Ratify the appointment of Deloitte & Touche LLP as our independent registered public accounting firm for our fiscal year ending November 30, 2020.	Management	For	For


BANK OF AMERICA CORPORATION
Security	060505104	Meeting Type	Annual

Ticker Symbol	BAC	Meeting Date	22-Apr-2020

ISIN	US0605051046	Agenda	935139825 - 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: Denise L. Ramos	Management	For	For

1M.	Election of Director: Clayton S. Rose	Management	For	For

1N.	Election of Director: Michael D. White	Management	For	For

1O.	Election of Director: Thomas D. Woods	Management	For	For

1P.	Election of Director: R. David Yost	Management	For	For

1Q.	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 2020.	Management	For	For

4.	Make Shareholder Proxy Access More Accessible.	Shareholder	Against	For

5.	Adopt a New Shareholder Right - Written Consent	Shareholder	Against	For

6.	Report Concerning Gender/Racial Pay Equity.	Shareholder	Against	For

7.	Review of Statement of the Purpose of a Corporation and Report on Recommended Changes to Governance Documents, Policies, and Practices.	Shareholder	Against	For


PFIZER INC.
Security	717081103	Meeting Type	Annual

Ticker Symbol	PFE	Meeting Date	23-Apr-2020

ISIN	US7170811035	Agenda	935138998 - 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: Scott Gottlieb	Management	For	For

1F.	Election of Director: Helen H. Hobbs	Management	For	For

1G.	Election of Director: Susan Hockfield	Management	For	For

1H.	Election of Director: James M. Kilts	Management	For	For

1I.	Election of Director: Dan R. Littman	Management	For	For

1J.	Election of Director: Shantanu Narayen	Management	For	For

1K.	Election of Director: Suzanne Nora Johnson	Management	For	For

1L.	Election of Director: James Quincey	Management	For	For

1M.	Election of Director: James C. Smith	Management	For	For

2.	Ratify the selection of KPMG LLP as independent registered public accounting firm for 2020	Management	For	For

3.	2020 advisory approval of executive compensation	Management	For	For

4.	Shareholder proposal regarding right to act by written consent	Shareholder	Against	For

5.	Shareholder proposal regarding enhancing proxy access	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 gender pay gap	Shareholder	Against	For

9.	Election of Director: Susan Desmond-Hellmann	Management	For	For


WELLS FARGO & COMPANY
Security	949746101	Meeting Type	Annual

Ticker Symbol	WFC	Meeting Date	28-Apr-2020

ISIN	US9497461015	Agenda	935145183 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: Steven D. Black	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: Wayne M. Hewett	Management	For	For

1E.	Election of Director: Donald M. James	Management	For	For

1F.	Election of Director: Maria R. Morris	Management	For	For

1G.	Election of Director: Charles H. Noski	Management	For	For


1H.	Election of Director: Richard B. Payne, Jr.	Management	For	For

1I.	Election of Director: Juan A. Pujadas	Management	For	For

1J.	Election of Director: Ronald L. Sargent	Management	For	For

1K.	Election of Director: Charles W. Scharf	Management	For	For

1L.	Election of Director: Suzanne M. Vautrinot	Management	For	For

2.	Advisory resolution to approve executive compensation.	Management	For	For

3.	Ratification of the appointment of KPMG LLP as the Company’s independent registered public accounting firm for 2020.	Management	For	For

4.	Shareholder Proposal - Shareholder Approval of By-Law Amendments.	Shareholder	Against	For

5.	Shareholder Proposal - Report on Incentive-Based Compensation and Risks of Material Losses.	Shareholder	Against	For

6.	Shareholder Proposal - Report on Global Median Pay Gap.	Shareholder	Against	For


BERKSHIRE HATHAWAY INC.
Security	084670702	Meeting Type	Annual

Ticker Symbol	BRKB	Meeting Date	02-May-2020

ISIN	US0846707026	Agenda	935144105 - 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 Kenneth I. Chenault		For	For

	7 Susan L. Decker		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


2.	Non-binding resolution to approve the compensation of the Company’s Named Executive Officers, as described in the 2020 Proxy Statement.	Management	For	For

3.	Non-binding resolution to determine the frequency (whether annual, biennial or triennial) with which shareholders of the Company shall be entitled to have an advisory vote on executive compensation.	Management	1 Year	Against

4.	Shareholder proposal regarding diversity.	Shareholder	Against	For


AFLAC INCORPORATED
Security	001055102	Meeting Type	Annual

Ticker Symbol	AFL	Meeting Date	04-May-2020

ISIN	US0010551028	Agenda	935145842 - 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: Thomas J. Kenny	Management	For	For

1E.	Election of Director: Georgette D. Kiser	Management	For	For

1F.	Election of Director: Karole F. Lloyd	Management	For	For

1G.	Election of Director: Nobuchika Mori	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 following non-binding advisory proposal: “Resolved, on an advisory basis, the shareholders of Aflac Incorporated approve the compensation of the named executive officers, 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 in the Notice of 2020 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, 2020	Management	For	For


NVR, INC.
Security	62944T105	Meeting Type	Annual

Ticker Symbol	NVR	Meeting Date	05-May-2020

ISIN	US62944T1051	Agenda	935148191 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: C. E. Andrews	Management	For	For

1B.	Election of Director: Sallie B. Bailey	Management	For	For

1C.	Election of Director: Thomas D. Eckert	Management	For	For

1D.	Election of Director: Alfred E. Festa	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, 2020.	Management	For	For

3.	Advisory vote to approve executive compensation.	Management	For	For


AMERICAN EXPRESS COMPANY
Security	025816109	Meeting Type	Annual

Ticker Symbol	AXP	Meeting Date	05-May-2020

ISIN	US0258161092	Agenda	935151439 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director for a term of one year: Charlene Barshefsky	Management	For	For

1B.	Election of Director for a term of one year: John J. Brennan	Management	For	For


1C.	Election of Director for a term of one year: Peter Chernin	Management	For	For

1D.	Election of Director for a term of one year: Ralph de la Vega	Management	For	For

1E.	Election of Director for a term of one year: Anne Lauvergeon	Management	For	For

1F.	Election of Director for a term of one year: Michael O. Leavitt	Management	For	For

1G.	Election of Director for a term of one year: Theodore J. Leonsis	Management	For	For

1H.	Election of Director for a term of one year: Karen L. Parkhill	Management	For	For

1I.	Election of Director for a term of one year: Lynn A. Pike	Management	For	For

1J.	Election of Director for a term of one year: Stephen J. Squeri	Management	For	For

1K.	Election of Director for a term of one year: Daniel L. Vasella	Management	For	For

1L.	Election of Director for a term of one year: Ronald A. Williams	Management	For	For

1M.	Election of Director for a term of one year: Christopher D. Young	Management	For	For

2.	Ratification of appointment of PricewaterhouseCoopers LLP as independent registered public accounting firm for 2020.	Management	For	For

3.	Approval, on an advisory basis, of the Company’s executive compensation.	Management	For	For

4.	Approval of Amended and Restated Incentive Compensation Plan.	Management	For	For

5.	Shareholder proposal relating to action by written consent.	Shareholder	Against	For

6.	Shareholder proposal relating to gender/racial pay equity.	Shareholder	Against	For


JPMORGAN CHASE & CO.
Security	46625H100	Meeting Type	Annual

Ticker Symbol	JPM	Meeting Date	19-May-2020

ISIN	US46625H1005	Agenda	935170833 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: Linda B. Bammann	Management	For	For

1B.	Election of Director: Stephen B. Burke	Management	For	For

1C.	Election of Director: Todd A. Combs	Management	For	For


1D.	Election of Director: James S. Crown	Management	For	For

1E.	Election of Director: James Dimon	Management	For	For

1F.	Election of Director: Timothy P. Flynn	Management	For	For

1G.	Election of Director: Mellody Hobson	Management	For	For

1H.	Election of Director: Michael A. Neal	Management	For	For

1I.	Election of Director: Lee R. Raymond	Management	For	For

1J.	Election of Director: Virginia M. Rometty	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.	Independent board chairman	Shareholder	Against	For

5.	Oil and gas company and project financing related to the Arctic and the Canadian oil sands	Shareholder	Against	For

6.	Climate change risk reporting	Shareholder	Against	For

7.	Amend shareholder written consent provisions	Shareholder	Against	For

8.	Charitable contributions disclosure	Shareholder	Against	For

9.	Gender/Racial pay equity	Shareholder	Against	For


AMGEN INC.
Security	031162100	Meeting Type	Annual

Ticker Symbol	AMGN	Meeting Date	19-May-2020

ISIN	US0311621009	Agenda	935172419 - 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: Mr. Charles M. Holley, Jr.	Management	For	For

1H.	Election of Director: Dr. Tyler Jacks	Management	For	For

1I.	Election of Director: Ms. Ellen J. Kullman	Management	For	For

1J.	Election of Director: Dr. Ronald D. Sugar	Management	For	For

1K.	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, 2020.	Management	For	For

4.	Stockholder proposal to require an independent board chair.	Shareholder	Against	For


PAYPAL HOLDINGS, INC.
Security	70450Y103	Meeting Type	Annual

Ticker Symbol	PYPL	Meeting Date	21-May-2020

ISIN	US70450Y1038	Agenda	935170869 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: Rodney C. Adkins	Management	For	For

1B.	Election of Director: Jonathan Christodoro	Management	For	For

1C.	Election of Director: John J. Donahoe	Management	For	For

1D.	Election of Director: David W. Dorman	Management	For	For

1E.	Election of Director: Belinda J. Johnson	Management	For	For

1F.	Election of Director: Gail J. McGovern	Management	For	For

1G.	Election of Director: Deborah M. Messemer	Management	For	For

1H.	Election of Director: David M. Moffett	Management	For	For

1I.	Election of Director: Ann M. Sarnoff	Management	For	For

1J.	Election of Director: Daniel H. Schulman	Management	For	For

1K.	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 2020.	Management	For	For

4.	Stockholder Proposal - Stockholder right to act by written consent.	Shareholder	Against	For

5.	Stockholder Proposal - Human and indigenous peoples’ rights.	Shareholder	Against	For


THE HOME DEPOT, INC.
Security	437076102	Meeting Type	Annual

Ticker Symbol	HD	Meeting Date	21-May-2020

ISIN	US4370761029	Agenda	935172130 - 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 Regarding Amendment of Shareholder Written Consent Right	Shareholder	Against	For

5.	Shareholder Proposal Regarding EEO-1 Disclosure	Shareholder	Against	For

6.	Shareholder Proposal Regarding Executive Ownership Guidelines	Shareholder	Against	For

7.	Shareholder Proposal Regarding Electioneering Contributions Congruency Analysis	Shareholder	Against	For


MERCK & CO., INC.
Security	58933Y105	Meeting Type	Annual

Ticker Symbol	MRK	Meeting Date	26-May-2020

ISIN	US58933Y1055	Agenda	935176431 - 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: Risa Lavizzo-Mourey	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: Christine E. Seidman	Management	For	For


1K.	Election of Director: Inge G. Thulin	Management	For	For

1L.	Election of Director: Kathy J. Warden	Management	For	For

1M.	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.	Ratification of the appointment of the Company’s independent registered public accounting firm for 2020.	Management	For	For

4.	Shareholder proposal concerning shareholder right to act by written consent.	Shareholder	Against	For

5.	Shareholder proposal regarding allocation of corporate tax savings.	Shareholder	Against	For


CHEVRON CORPORATION
Security	166764100	Meeting Type	Annual
Ticker Symbol	CVX	Meeting Date	27-May-2020
ISIN	US1667641005	Agenda	935183979 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: W. M. Austin	Management	For	For

1B.	Election of Director: J. B. Frank	Management	For	For

1C.	Election of Director: A. P. Gast	Management	For	For

1D.	Election of Director: E. Hernandez, Jr.	Management	For	For

1E.	Election of Director: C. W. Moorman IV	Management	For	For

1F.	Election of Director: D. F. Moyo	Management	For	For

1G.	Election of Director: D. Reed-Klages	Management	For	For

1H.	Election of Director: R. D. Sugar	Management	For	For

1I.	Election of Director: D. J. Umpleby III	Management	For	For

1J.	Election of Director: M. K. Wirth	Management	For	For

2.	Ratification of Appointment of PwC as Independent Registered Public Accounting Firm	Management	For	For

3.	Advisory Vote to Approve Named Executive Officer Compensation	Management	For	For

4.	Report on Lobbying	Shareholder	Against	For

5.	Create a Board Committee on Climate Risk	Shareholder	Against	For

6.	Report on Climate Lobbying	Shareholder	Against	For

7.	Report on Petrochemical Risk	Shareholder	Against	For

8.	Report on Human Rights Practices	Shareholder	Against	For

9.	Set Special Meeting Threshold at 10%	Shareholder	Against	For

10.	Adopt Policy for an Independent Chairman	Shareholder	Against	For


COMCAST CORPORATION
Security	20030N101	Meeting Type	Annual

Ticker Symbol	CMCSA	Meeting Date	03-Jun-2020

ISIN	US20030N1019	Agenda	935190532 - 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 Naomi M. Bergman		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 Amended 2003 Stock Option Plan	Management	For	For

4.		Approval of Amended 2002 Restricted Stock Plan	Management	For	For

5.		Advisory vote on executive compensation	Management	For	For

6.		To provide a lobbying report	Shareholder	Against	For

7.		To require an independent board chairman	Shareholder	Against	For

8.		To conduct independent investigation and report on risks posed by failing to prevent sexual harassment	Shareholder	Against	For


BOOKING HOLDINGS INC.
Security	09857L108	Meeting Type	Annual

Ticker Symbol	BKNG	Meeting Date	04-Jun-2020

ISIN	US09857L1089	Agenda	935188929 - 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 M. Graddick-Weir		For	For

	5 Wei Hopeman		For	For

	6 Robert J. Mylod, Jr.		For	For

	7 Charles H. Noski		For	For

	8 Nicholas J. Read		For	For

	9 Thomas E. Rothman		For	For

	10 Bob van Dijk		For	For

	11 Lynn M. Vojvodich		For	For

	12 Vanessa A. Wittman		For	For

2.	Advisory vote to approve 2019 executive compensation.	Management	For	For

3.	Ratification of Deloitte & Touche LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2020.	Management	For	For

4.	Stockholder proposal requesting the right of stockholders to act by written consent.	Shareholder	Against	For


TARGET CORPORATION
Security	87612E106	Meeting Type	Annual

Ticker Symbol	TGT	Meeting Date	10-Jun-2020

ISIN	US87612E1064	Agenda	935196293 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: Douglas M. Baker, Jr.	Management	For	For

1B.	Election of Director: George S. Barrett	Management	For	For

1C.	Election of Director: Brian C. Cornell	Management	For	For

1D.	Election of Director: Calvin Darden	Management	For	For

1E.	Election of Director: Robert L. Edwards	Management	For	For

1F.	Election of Director: Melanie L. Healey	Management	For	For

1G.	Election of Director: Donald R. Knauss	Management	For	For

1H.	Election of Director: Monica C. Lozano	Management	For	For

1I.	Election of Director: Mary E. Minnick	Management	For	For

1J.	Election of Director: Kenneth L. Salazar	Management	For	For

1K.	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.	Company proposal to approve the Target Corporation 2020 Long-Term Incentive Plan.	Management	For	For


DISCOVERY, INC.
Security	25470F104	Meeting Type	Annual
Ticker Symbol	DISCA	Meeting Date	18-Jun-2020
ISIN	US25470F1049	Agenda	935197651 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1.	DIRECTOR	Management

	1 Robert R. Bennett		For	For

	2 John C. Malone		For	For

	3 David M. Zaslav		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, 2020.	Management	For	For

3.	To vote on an advisory resolution to approve the 2019 compensation of Discovery, Inc.’s named executive officers, commonly referred to as a “Say on Pay” vote.	Management	For	For

4.	To vote on a stockholder proposal regarding simple majority vote, if properly presented.	Shareholder	Against	For


THE MACERICH COMPANY
Security	554382101	Meeting Type	Annual

Ticker Symbol	MAC	Meeting Date	18-Jun-2020

ISIN	US5543821012	Agenda	935205371 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of Director: Peggy Alford	Management	For	For

1B.	Election of Director: John H. Alschuler	Management	For	For

1C.	Election of Director: Eric K. Brandt	Management	For	For

1D.	Election of Director: Edward C. Coppola	Management	For	For

1E.	Election of Director: Steven R. Hash	Management	For	For


1F.	Election of Director: Daniel J. Hirsch	Management	For	For

1G.	Election of Director: Diana M. Laing	Management	For	For

1H.	Election of Director: Thomas E. O’Hern	Management	For	For

1I.	Election of Director: Steven L. Soboroff	Management	For	For

1J.	Election of Director: Andrea M. Stephen	Management	For	For

2.	Ratification of the appointment of KPMG LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2020.	Management	For	For

3.	Advisory vote to approve our named executive officer compensation as described in our Proxy Statement.	Management	For	For


EBAY INC.
Security	278642103	Meeting Type	Annual

Ticker Symbol	EBAY	Meeting Date	29-Jun-2020

ISIN	US2786421030	Agenda	935220626 - Management


Item	Proposal	Proposed by	Vote	For/Against Management
1A.	Election of director: Anthony J. Bates	Management	For	For

1B.	Election of director: Adriane M. Brown	Management	For	For

1C.	Election of director: Jesse A. Cohn	Management	For	For

1D.	Election of director: Diana Farrell	Management	For	For

1E.	Election of director: Logan D. Green	Management	For	For

1F.	Election of director: Bonnie S. Hammer	Management	For	For

1G.	Election of director: Jamie Iannone	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: Perry M. Traquina	Management	For	For

2.	Ratification of appointment of independent auditors.	Management	For	For

3.	Advisory vote to approve named executive officer compensation.	Management	For	For

4.	Stockholder proposal regarding written consent, if properly presented.	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		August 10, 2020

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