================================================================================
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
-----------------
FORM N-PX
-----------------
ANNUAL REPORT OF PROXY RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-09060
-----------------
HOLLAND SERIES FUND, INC.
(Exact name of registrant as specified in charter)
-----------------
375 Park Avenue
New York, NY 10152
(Address of principal executive offices)
-----------------
Copy to:
Michael F. Holland Kristin Schantz, Esq.
President and Treasurer State Street Bank and Trust Company
Holland Series Fund, Inc. One Lincoln Street, Mailstop SUM0703
One Greenley Road Boston, Massachusetts 02111
New Canaan, CT 06840
and
Timothy Diggins, Esq.
Ropes & Gray
Prudential Tower
800 Boylston Street
Boston, Massachusetts 02119-3600
(Name and address of agent for service)
-----------------
Registrant's telephone number, including area code: 800-304-6552
Date of fiscal year end: September 30
Date of reporting period: July 1, 2019 - June 30, 2020
================================================================================
Item 1. Proxy Voting Record
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
3M Co. MMM 88579Y101 05/12/20 Proposal 1: Election of Directors Issuer No vote For
1a. Thomas "Tony" K. Brown
1b. Pamela J. Craig
1c. David B. Dillon
1d. Michael L. Eskew
1e. Herbert L. Henkel
1f. Amy E. Hood
1g. Muhtar Kent
1h. Dambisa F. Moyo
1i. Gregory R. Page
1j. Michael F. Roman
1k. Patricia A. Woertz
---------------------------------------------------------------------
Proposal 2: To Ratify the Issuer No vote For
appointment of
PricewaterhouseCoopers LLP as 3M's
independent registered public
accounting firm.
---------------------------------------------------------------------
Proposal 3: Advisory approval of Issuer No vote For
executive compensation.
---------------------------------------------------------------------
Proposal 4: Shareholder proposal Security Holder No vote Against
on setting target amounts for CEO
compensation.
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
American Express Co. AXP 025816109 05/05/20 Proposal 1: Election of Directors Issuer No vote For
1a. Charlene Barshefsky
1b. John J. Brennan
1c. Peter Chernin
1d. Ralph de la Vega
1e. Anne Lauvergeon
1f. Michael O. Leavitt
1g. Theodore J. Leonsis
1h. Karen L. Parkhill
1i. Lynn A. Pike
1j. Stephen J. Squeri
1k. Daniel L. Vasella
1l. Ronald A. Williams
1m. Christopher D. Young
---------------------------------------------------------------------
Proposal 2: Ratification of Issuer No vote For
appointment of
PricewaterhouseCoopers LLP as
independent registered public
accounting firm for 2020.
---------------------------------------------------------------------
Proposal 3: Approval, on an Issuer No vote For
advisory basis, of the Company's
executive compensation.
---------------------------------------------------------------------
Proposal 4: Approval of Amended Issuer No vote For
and Restated Incentive
Compensation Plan.
---------------------------------------------------------------------
Proposal 5: Shareholder proposal Security Holder No vote Against
relating to action by written
consent.
---------------------------------------------------------------------
Proposal 6: Shareholder proposal Security Holder No vote Against
relating to gender/racial pay
equity.
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- ----------- --------- -------
Berkshire Hathaway, Inc. BRK/A 084670108 05/02/20 Proposal 1: Election of Directors Issuer No vote For
01-Warren E. Buffett
02-Charles T. Munger
03-Gregory E. Abel
04-Howard G. Buffett
05-Stephen B. Burke
06-Kenneth I. Chenault
07-Susan L. Decker
08-David S. Gottesman
09-Charlotte Guyman
10-Ajit Jain
11-Thomas S. Murphy
12-Ronald L. Olson
13-Walter Scott, Jr.
14-Meryl B. Witmer
-----------------------------------------------------------------
Proposal 2: Non-binding resolution Issuer No vote For
to approve the compensation of the
Company's Named Executive
Officers, as described in the 2020
Proxy Statement.
-----------------------------------------------------------------
Proposal 3: Non-binding resolution Issuer No vote 3 Year
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.
-----------------------------------------------------------------
Proposal 4: Shareholder proposal Shareholder No vote Against
regarding diversity.
-----------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- --------------------------------------- ----------- --------- -----
Chubb Limited CB 171232101 05/19/20 Proposal 1: Approval of the management Issuer No vote For
report, standalone financial statements
and consolidated financial statements
of Chubb Limited for the year ended
December 31, 2019
--------------------------------------------------------------------
Proposal 2: Allocation of disposable
profit and distribution of a dividend
from reserves
2.1 Allocation of disposable profit Issuer No vote For
2.2 Distribution of a dividend out of Issuer No vote For
legal reserves (by way of release and
allocation to a dividend reverse)
--------------------------------------------------------------------
Proposal 3: Discharge of the Board of Issuer No vote For
Directors
--------------------------------------------------------------------
Proposal 4: Election of Auditors
4.1 Election of PricewaterhouseCoopers Issuer No vote For
AG (Zurich) as our statutory auditor
4.2 Ratification of appointment of Issuer No vote For
PricewaterhouseCoopers LLP (United
States) as independent registered
public accounting firm for purposes of
U.S. securities law reporting
4.3 Election of BDO AG (Zurich) as Issuer No vote For
special audit firm
--------------------------------------------------------------------
Proposal 5: Election of Directors Issuer No vote For
5.1 Evan G. Greenberg
5.2 Michael G. Atieh
5.3 Sheila P. Burke
5.4 James I. Cash
5.5 Mary Cirillo
5.6 Michael P. Connors
5.7 John A. Edwardson
5.8 Robert J. Hugin
5.9 Robert W. Scully
5.10 Eugene B. Shanks, Jr.
5.11 Theodore E. Shasta
5.12 David H. Sidwell
5.13 Olivier Steimer
5.14 Frances F. Townsend
--------------------------------------------------------------------
Proposal 6: Election of Evan G. Issuer No vote For
Greenberg as Chairman of the Board of
Directors
--------------------------------------------------------------------
Proposal 7: Election of the Issuer No vote For
Compensation Committee of the Board of
Directors
7.1 Michael P. Connors Issuer No vote For
7.2 Mary Cirillo Issuer No vote For
7.3 John A. Edwardson Issuer No vote For
7.4 Frances F. Townsend Issuer No vote For
--------------------------------------------------------------------
Proposal 8: Election of Homburger AG as Issuer No vote For
independent proxy
--------------------------------------------------------------------
Proposal 9: Amendment to the Articles Issuer No vote For
of Association relating to authorized
share capital for general purposes
--------------------------------------------------------------------
Proposal 10: Reduction of share capital Issuer No vote For
--------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ --------- ------- ---------------------------------- ----------- --------- -----
Proposal 11: Approval of the Issuer No vote For
maximum compensation of the Board
of Directors and Executive
Management
11.1 Compensation of the Board of Issuer No vote For
Directors until the next annual
general meeting
---------------------------------------------------------------
11.2 Compensation of Executive Issuer No vote For
Management for the next calendar
year
---------------------------------------------------------------
12: Advisory vote to approve Issuer No vote For
executive compensation under U.S.
securities law requirements
---------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
Comcast Corporation CMCSA 20030N101 06/03/20 Proposal 1: Election of Directors Issuer No vote For
01-Kenneth J. Bacon
02-Madline S. Bell
03-Naomi M. Bergman
04-Edward D. Breen
05-Gerald L. Hassell
06-Jeffrey A. Honickman
07-Maritza G. Montiel
08-Asuka Nakahara
09-David C. Novak
10-Brian L. Roberts
---------------------------------------------------------------------
Proposal 2: Ratification of the Issuer No vote For
appointment of our independent
auditors
---------------------------------------------------------------------
Proposal 3: Approval of amended Issuer No vote For
2003 Stock Option Plan
---------------------------------------------------------------------
Proposal 4: Approval of Amended Issuer No vote For
2002 Restricted Stock Plan
---------------------------------------------------------------------
Proposal 5: Advisory vote on Issuer No vote For
executive compensation
---------------------------------------------------------------------
Proposal 6: To provide a lobbying Security Holder No vote Against
report
---------------------------------------------------------------------
Proposal 7: To require an Security Holder No vote Against
independent board chairman
---------------------------------------------------------------------
Proposal 8: To conduct independent Security Holder No vote Against
investigation and report on risks
posed by failing to prevent sexual
harassment
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
Exxon Mobil Corp. XOM 30231G102 05/27/20 Proposal 1: Election of Directors Issuer No vote For
01. Susan K. Avery
02. Angela F. Braly
03. Ursula M. Burns
04. Kenneth C. Frazier
05. Joseph L. Hooley
06. Steven A. Kandarian
07. Douglas R. Oberhelman
08. Samuel J. Palmisano
09. William C. Weldon
10. Darren W. Woods
---------------------------------------------------------------------
Proposal 2: Ratification of Issuer No vote For
Independent Auditors
---------------------------------------------------------------------
Proposal 3: Advisory Vote to Issuer No vote For
Approve Executive Compensation
---------------------------------------------------------------------
Proposal 4: Independent Chairman Security Holder No vote Against
---------------------------------------------------------------------
Proposal 5: Special Shareholder Security Holder No vote Against
Meetings
---------------------------------------------------------------------
Proposal 6: Report on Security Holder No vote Against
Environmental Expenditures
---------------------------------------------------------------------
Proposal 7: Report on Risks of Security Holder No vote Against
Petrochemical Investments
---------------------------------------------------------------------
Proposal 8: Report on Political Security Holder No vote Against
Contributions
---------------------------------------------------------------------
Proposal 9: Report on Lobbying Security Holder No vote Against
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
Intel Corp. INTC 458140100 05/14/20 Proposal 1: Election of Directors Issuer No vote For
1a. James J. Goetz
1b. Alyssa Henry
1c. Omar Ishrak
1d. Risa Lavizzo-Mourey
1e. Tsu-Jae King Liu
1f. Gregory D. Smith
1g. Robert ("Bob") H. Swan
1h. Andrew M. Wilson
1i. Frank D. Yeary
---------------------------------------------------------------------
Proposal 2: Ratification of Issuer No vote For
selection of Ernst & Young LLP as
our independent registered public
accounting firm for 2020
---------------------------------------------------------------------
Proposal 3: Advisory vote to Issuer No vote For
approve executive compensation of
our listed officers
---------------------------------------------------------------------
Proposal 4: Approval of amendment Issuer No vote For
and restatement of 2006 Employee
Stock Purchase Plan
---------------------------------------------------------------------
Proposal 5: Stockholder proposal Security Holder No vote Against
on whether to allow stockholders
to act by written consent, if
properly presented at the meeting
---------------------------------------------------------------------
Proposal 6: Stockholder proposal Security Holder No vote Against
requesting a report on the global
median gender/racial pay gap, if
properly presented at the meeting
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ----------------------------------- --------------- --------- -------
Johnson & Johnson JNJ 478160104 04/23/20 Proposal 1: Election of Directors Issuer No vote For
1a. Mary C. Beckerle
1b. D. Scott Davis
1c. Ian E.L. Davis
1d. Jennifer A. Doudna
1e. Alex Gorsky
1f. Marillyn A. Hewson
1g. Hubert Joly
1h. Mark B. McClellan
1i. Anne M. Mulcahy
1j. Charles Prince
1k. A. Eugene Washington
1l. Mark A. Weinbeger
1m. Ronald A. Williams
---------------------------------------------------------------------
Proposal 2: Advisory Vote to Issuer No vote For
Approve Named Executive Officer
Compensation
---------------------------------------------------------------------
Proposal 3: Ratification of Issuer No vote For
Appointment of
PricewaterhouseCoopers LLP as the
Independent Registered Public
Accounting Firm for 2020
---------------------------------------------------------------------
Proposal 4: Amendment to the Issuer No vote For
Restated Certificate of
Incorporation to Permit Removal of
Directors Without Cause
---------------------------------------------------------------------
Proposal 5: Independent Board Chair Security Holder No vote Against
---------------------------------------------------------------------
Proposal 6: Report on Governance Security Holder No vote Against
of Opioids-Related Risks
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
JPMorgan Chase & Co. JPM 46625H100 05/19/20 Proposal 1: Election of Directors Issuer No vote For
1a. Linda B. Bammann
1b. Stephen B. Burke
1c. Todd A. Combs
1d. James S. Crown
1e. James Dimon
1f. Timothy P. Flynn
1g. Mellody Hobson
1h. Michael A. Neal
1i. Lee R. Raymond
1j. Virginia M. Rometty
---------------------------------------------------------------------
Proposal 2: Advisory resolution to Issuer No vote For
approve executive compensation
---------------------------------------------------------------------
Proposal 3: Ratification of Issuer No vote For
independent registered public
accounting firm
---------------------------------------------------------------------
Proposal 4: Independent Board Security Holder No vote Against
Chairman
---------------------------------------------------------------------
Proposal 5: Oil and gas company Security Holder No vote Against
and project financing related to
the Arctic and the Canadian oil
sands
---------------------------------------------------------------------
Proposal 6: Climate change Security Holder No vote Against
reporting
---------------------------------------------------------------------
Proposal 7: Amended shareholder Security Holder No vote Against
written consent provisions
---------------------------------------------------------------------
Proposal 8: Charitable Security Holder No vote Against
contributions disclosure
---------------------------------------------------------------------
Proposal 9: Gender/Racial pay Security Holder No vote Against
equity
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
Microsoft Corp. MSFT 594918104 12/04/19 Proposal 1: Election of Directors Issuer No vote For
01. William H. Gates III
02. Reid G. Hoffman
03. Hugh F. Johnston
04. Teri L. List-Stoll
05. Satya Nadella
06. Sandra E. Peterson
07. Penny S. Pritzker
8. Charles W. Scharf
9. Arne M. Sorenson
10. John W. Stanton
11. John W. Thompson
12. Emma Walmsley
13. Padmasree Warrior
---------------------------------------------------------------------
Proposal 2: Advisory vote to Issuer No vote For
approve named executive officer
compensation
---------------------------------------------------------------------
Proposal 3: Ratification of Issuer No vote For
Deloitte & Touche LLP as our
independent auditor for fiscal
year 2020
---------------------------------------------------------------------
Proposal 4: Shareholder Proposal - Security Holder No vote Against
Report on Employee Representation
of Board of Directors
---------------------------------------------------------------------
Proposal 5: Shareholder Proposal - Security Holder No vote Against
Report on Gender Pay Gap
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
PepsiCo, Inc. PEP 713448108 05/06/20 Proposal 1: Election of Directors Issuer No vote For
1a. Shona L. Brown
1b. Cesar Conde
1c. Ian M. Cook
1d. Dina Dublon
1e. Richard W. Fisher
1f. Michelle Gass
1g. Ramon Laguarta
1h. David C. Page
1i. Robert C. Pohlad
1j. Daniel Vasella
1k. Darren Walker
1l. Alberto Weisser
---------------------------------------------------------------------
Proposal 2: Ratification of the Issuer No vote For
appointment of KPMG LLP as the
Company's independent registered
public accounting firm for fiscal
year 2020.
---------------------------------------------------------------------
Proposal 3: Advisory approval of Issuer No vote For
the Company's executive
compensation.
---------------------------------------------------------------------
Proposal 4: Shareholder proposal - Security Holder No vote Against
Reduce Ownership Threshold to Call
Special Shareholder Meetings.
---------------------------------------------------------------------
Proposal 5: Shareholder proposal - Security Holder No vote Against
Report on Sugar and Public Health.
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- ----------- --------- -----
Schlumberger, Ltd. SLB 806857108 04/01/20 Proposal 1: Election of Directors Issuer No vote For
1a. Patrick de La Chevardiere
1b. Miguel M. Galuccio
1c. Olivier Le Peuch
1d. Tatiana A. Mitrova
1e. Lubna S. Olayan
1f. Mark G. Papa
1g. Leo Rafael Reif
1h. Henri Seydoux
1i. Jeff W. Sheets
---------------------------------------------------------------
Proposal 2: Approval of the Issuer No vote For
advisory resolution to approve our
executive compensation.
---------------------------------------------------------------
Proposal 3: Approval of our Issuer No vote For
consolidated balance sheet as of
December 31, 2019; our
consolidated statement of income
for the year ended December 31,
2019; and our Board of Directors'
declarations of dividends in 2019,
as reflected in our 2019 Annual
Report to Stockholders.
---------------------------------------------------------------
Proposal 4: Ratification of the Issuer No vote For
appointment of
PricewaterhouseCoopers LLP as
independent auditors for 2020.
---------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
The Home Depot, Inc. HD 437076102 05/21/20 Proposal 1: Election of Directors Issuer No vote For
1a. Gerard J. Arpey
1b. Ari Bousbib
1c. Jeffrey H. Boyd
1d. Gregory D. Brenneman
1e. J. Frank Brown
1f. Albert P. Carey
1g. Helena B. Foulkes
1h. Linda R. Gooden
1i. Wayne M. Hewett
1j. Manuel Kadre
1k. Stephanie C. Linnartz
1l. Craig A. Menear
---------------------------------------------------------------------
Proposal 2: Ratification of the Issuer No vote For
Appointment of KPMG LLP
---------------------------------------------------------------------
Proposal 3: Advisory Vote to Issuer No vote For
Approve Executive Compensation
("Say-on-Pay")
---------------------------------------------------------------------
Proposal 4: Shareholder Proposal Issuer No vote For
Regarding Amendment of Shareholder
Written Consent Right
---------------------------------------------------------------------
Proposal 5: Shareholder Proposal Security Holder No vote Against
Regarding EEO-1 Disclosure
---------------------------------------------------------------------
Proposal 6: Shareholder Proposal Security Holder No vote Against
Regarding Executive Ownership
Guidelines
---------------------------------------------------------------------
Proposal 7: Shareholder Proposal Security Holder No vote Against
Regarding Electioneering
Contributions Conguency Analysis
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
The Walt Disney Company DIS 254687106 03/11/20 Proposal 1: Election of Directors Issuer No vote For
1a. Susan E. Arnold
1b. Mary T. Barra
1c. Safra A. Catz
1d. Francis A. deSouza
1e. Michael B.G. Froman
1f. Robert A. Iger
1g. Maria Elena Lagomasino
1h. Mark G. Parker
1i. Derica W. Rice
---------------------------------------------------------------------
Proposal 2: To ratify the Issuer No vote For
appointment of
PricewaterhouseCoopers LLP as the
Company's registered public
accountants for fiscal 2020.
---------------------------------------------------------------------
Proposal 3: To approve the Issuer No vote For
advisory resolution on executive
compensation.
---------------------------------------------------------------------
Proposal 4: To approve an Issuer No vote For
amendment to the Company's Amended
and Restated 2011 Stock Incentive
Plan.
---------------------------------------------------------------------
Proposal 5: Shareholder proposal Security Holder No vote Against
requesting an annual report
disclosing information regarding
the Company's lobbying policies
and activities.
---------------------------------------------------------------------
Ticker Meeting Mgmt.
Issuer Symbol Cusip No. Date Ballot Issue Proposed by Vote Cast Rec.
------ ------ ---------- -------- ---------------------------------- --------------- --------- -------
Walmart Inc. WMT 931142103 06/03/20 Proposal 1: Election of Directors Issuer No vote For
1a. Cesar Conde
1b. Timothy P. Flynn
1c. Sarah J. Friar
1d. Carla A. Harris
1e. Thomas W. Horton
1f. Marissa A. Mayer
1g. C. Douglas McMillon
1h. Gregory B. Penner
1i. Steven S. Reinemund
1j. S. Robson Walton
1k. Steuart L. Walton
---------------------------------------------------------------------
Proposal 2: Advisory Vote to Issuer No vote For
Approve Named Executive Officer
Compensation
---------------------------------------------------------------------
Proposal 3: Ratification of Issuer No vote For
Ernst & Young LLP as Independent
Accountants
---------------------------------------------------------------------
Proposal 4: Approval of the Issuer No vote For
Amendment to the ASDA Sharesave
Plan 2000
---------------------------------------------------------------------
Proposal 5: Report of Impacts of Security Holder No vote Against
Single-Use Plastic Bags
---------------------------------------------------------------------
Proposal 6: Report on Supplier Security Holder No vote Against
Antibiotics Use Standards
---------------------------------------------------------------------
Proposal 7: Policy to Include Security Holder No vote Against
Hourly Associates as Director
Candidates
---------------------------------------------------------------------
Proposal 8: Request to Strengthen Security Holder No vote Against
Prevention of Workplace Sexual
Harassment
---------------------------------------------------------------------
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.
HOLLAND SERIES FUND, INC.
By: /s/ Michael F. Holland
--------------------------
Michael F. Holland
President and Treasurer
August 27, 2020