N-PX 1 sarofim2023-npx.htm ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY





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:  811-06400

The Advisors’ Inner Circle Fund
(Exact name of registrant as specified in charter)

________


101 Federal Street
Boston, Massachusetts 02110
 (Address of principal executive offices)

________


Michael Beattie, President
The Advisors’ Inner Circle Fund
c/o SEI Investments
One Freedom Valley Drive
Oaks, PA 19456
(Name and address of agent for service)

________


Registrant’s telephone number, including area code: 1-877-446-3863
Date of Fiscal Year End: December 31
Date of Reporting Period: July 1, 2022 to June 30, 2023

________






Item 1. Proxy Voting Record.

Attached are the proxy voting records for:

Sarofim Equity Fund
A series of The Advisors’ Inner Circle Fund














Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted
ABBOTT LABORATORIES
Security ID: 002824100
Ticker: ABT
Meeting Date: 28-Apr-23
1a.
Elect Robert J. Alpern
Management
For
Voted - For
1b.
Elect Claire Babineaux-Fontenot
Management
For
Voted - For
1c.
Elect Sally E. Blount
Management
For
Voted - For
1d.
Elect Robert B. Ford
Management
For
Voted - For
1e.
Elect Paola Gonzalez
Management
For
Voted - For
1f.
Elect Michelle A. Kumbier
Management
For
Voted - For
1g.
Elect Darren W. McDew
Management
For
Voted - For
1h.
Elect Nancy McKinstry
Management
For
Voted - For
1i.
Elect Michael G. O'Grady
Management
For
Voted - For
1j.
Elect Michael F. Roman
Management
For
Voted - For
1k.
Elect Daniel J. Starks
Management
For
Voted - For
1l.
Elect John G. Stratton
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Shareholder Proposal Regarding Right to Call Special Meetings
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Lobbying Report
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Prohibiting Adjustments for Legal and Compliance Costs
Shareholder
Against
Voted - Against
ADOBE INC
Security ID: 00724F101
Ticker: ADBE
Meeting Date: 20-Apr-23
1a.
Elect Amy L. Banse
Management
For
Voted - For
1b.
Elect Brett Biggs
Management
For
Voted - For
1c.
Elect Melanie Boulden
Management
For
Voted - For
1d.
Elect Frank A. Calderoni
Management
For
Voted - For
1e.
Elect Laura B. Desmond
Management
For
Voted - For
1f.
Elect Shantanu Narayen
Management
For
Voted - For
1g.
Elect Spencer Neumann
Management
For
Voted - For
1h.
Elect Kathleen Oberg
Management
For
Voted - For
1i.
Elect Dheeraj Pandey
Management
For
Voted - For
1j.
Elect David A. Ricks
Management
For
Voted - For
1k.
Elect Daniel Rosensweig
Management
For
Voted - For
1l.
Elect John E. Warnock
Management
For
Voted - For
2.
Amendment to the 2019 Equity Incentive Plan
Management
For
Voted - For
3.
Ratification of Auditor
Management
For
Voted - For
4.
Advisory Vote on Executive Compensation
Management
For
Voted - For


1

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

5.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
6.
Shareholder Proposal Regarding Report on Hiring Practices for People With Arrest Records
Shareholder
Against
Voted - Against
AIR PRODUCTS & CHEMICALS INC.
Security ID: 009158106
Ticker: APD
Meeting Date: 26-Jan-23
1a.
Elect Tonit M. Calaway
Management
For
Voted - For
1b.
Elect Charles I. Cogut
Management
For
Voted - For
1c.
Elect Lisa A. Davis
Management
For
Voted - For
1d.
Elect Seifollah Ghasemi
Management
For
Voted - For
1e.
Elect David H. Y. Ho
Management
For
Voted - For
1f.
Elect Edward L. Monser
Management
For
Voted - For
1g.
Elect Matthew H. Paull
Management
For
Voted - For
1h.
Elect Wayne T. Smith
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
ALTRIA GROUP INC.
Security ID: 02209S103
Ticker: MO
Meeting Date: 18-May-23
1a.
Elect Ian L.T. Clarke
Management
For
Voted - For
1b.
Elect Marjorie M. Connelly
Management
For
Voted - For
1c.
Elect R. Matt Davis
Management
For
Voted - For
1d.
Elect William F. Gifford, Jr.
Management
For
Voted - For
1e.
Elect Jacinto J. Hernandez
Management
For
Voted - For
1f.
Elect Debra J. Kelly-Ennis
Management
For
Voted - For
1g.
Elect Kathryn B. McQuade
Management
For
Voted - For
1h.
Elect George Muñoz
Management
For
Voted - For
1i.
Elect Nabil Y. Sakkab
Management
For
Voted - For
1j.
Elect Virginia E. Shanks
Management
For
Voted - For
1k.
Elect Ellen R. Strahlman
Management
For
Voted - For
1l.
Elect M. Max Yzaguirre
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Shareholder Proposal Regarding Report on Political Expenditures and Values Congruency
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Civil Rights Audit
Shareholder
Against
Voted - Against


2

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

AMAZON.COM INC.
Security ID: 023135106
Ticker: AMZN
Meeting Date: 24-May-23
1a.
Elect Jeffrey P. Bezos
Management
For
Voted - For
1b.
Elect Andrew R. Jassy
Management
For
Voted - For
1c.
Elect Keith B. Alexander
Management
For
Voted - For
1d.
Elect Edith W. Cooper
Management
For
Voted - For
1e.
Elect Jamie S. Gorelick
Management
For
Voted - For
1f.
Elect Daniel P. Huttenlocher
Management
For
Voted - For
1g.
Elect Judith A. McGrath
Management
For
Voted - Against
1h.
Elect Indra K. Nooyi
Management
For
Voted - For
1i.
Elect Jonathan J. Rubinstein
Management
For
Voted - For
1j.
Elect Patricia Q. Stonesifer
Management
For
Voted - For
1k.
Elect Wendell P. Weeks
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - Against
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Amendment to the 1997 Stock Incentive Plan
Management
For
Voted - For
6.
Shareholder Proposal Regarding Report on Climate Risk In Employee Retirement Default Options
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Customer Due Diligence
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Report on Government Requests for Content and Product Removal
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding  Report on Government Takedown Requests
Shareholder
Against
Voted - Against
10.
Shareholder Proposal Regarding Just Transition Reporting
Shareholder
Against
Voted - Against
11.
Shareholder Proposal Regarding Report on Tax Transparency
Shareholder
Against
Voted - Against
12.
Shareholder Proposal Regarding Lobbying Alignment with Climate Commitments
Shareholder
Against
Voted - Against
13.
Shareholder Proposal Regarding Median Gender and Racial Pay Equity Report
Shareholder
Against
Voted - Against
14.
Shareholder Proposal Regarding Cost Benefit Analysis of DEI Programs
Shareholder
Against
Voted - Against
15.
Shareholder Proposal Regarding Shareholder Approval of Advance Notice Provisions
Shareholder
Against
Voted - Against
16.
Shareholder Proposal Regarding Third-Party Assessment of Freedom of Association
Shareholder
Against
Voted - Against
17.
Shareholder Proposal Regarding Employee Salary Considerations When Setting Executive Compensation
Shareholder
Against
Voted - Against
18.
Shareholder Proposal Regarding Report Evaluating Animal Welfare Standards
Shareholder
Against
Voted - Against
19.
Shareholder Proposal Regarding Formation of Public Policy Committee
Shareholder
Against
Voted - Against
20.
Shareholder Proposal Regarding Hourly Associate Representation on the Board
Shareholder
Against
Voted - Against


3

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

21.
Shareholder Proposal Regarding Report on Working Conditions
Shareholder
Against
Voted - Against
22.
Shareholder Proposal Regarding Report on Plastic Packaging
Shareholder
Against
Voted - Against
23.
Shareholder Proposal Regarding the Human Rights Impacts of Facial Recognition Technology
Shareholder
Against
Voted - Against
APPLE INC
Security ID: 037833100
Ticker: AAPL
Meeting Date: 10-Mar-23
1a
Elect James A. Bell
Management
For
Voted - For
1b
Elect Timothy D. Cook
Management
For
Voted - For
1c
Elect Albert A. Gore
Management
For
Voted - For
1d
Elect Alex Gorsky
Management
For
Voted - For
1e
Elect Andrea Jung
Management
For
Voted - For
1f
Elect Arthur D. Levinson
Management
For
Voted - For
1g
Elect Monica C. Lozano
Management
For
Voted - For
1h
Elect Ronald D. Sugar
Management
For
Voted - For
1i
Elect Susan L. Wagner
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Shareholder Proposal Regarding Civil Rights Audit
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Report on Corporate Operations with China
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Shareholder Engagement with the Board
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Median Gender and Racial Pay Equity Report
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Proxy Access Bylaw Amendment
Shareholder
Against
Voted - Against
ASML HOLDING NV
Security ID: N07059210
Ticker: ASML
Meeting Date: 26-Apr-23
3a
Remuneration Report
Management
For
Voted - For
3b
Accounts and Reports
Management
For
Voted - For
3d
Allocation of Dividends
Management
For
Voted - For
4a
Ratification of Management Board Acts
Management
For
Voted - For
4b
Ratification of Supervisory Board Acts
Management
For
Voted - For
5
Long-Term Incentive Plan; Authority to Issue Shares
Management
For
Voted - For
6a
Supervisory Board Remuneration Policy
Management
For
Voted - For
6b
Supervisory Board Fees
Management
For
Voted - For
8a
Elect Nils Andersen to the Supervisory Board
Management
For
Voted - For
8b
Elect Jack P. de Kreij to the Supervisory Board
Management
For
Voted - For


4

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

9
Appointment of Auditor
Management
For
Voted - For
10a
Authority to Issue Shares w/ Preemptive Rights
Management
For
Voted - For
10b
Authority to Suppress Preemptive Rights
Management
For
Voted - For
11
Authority to Repurchase Shares
Management
For
Voted - For
12
Cancellation of Shares
Management
For
Voted - For
ASTRAZENECA PLC
Security ID: 046353108
Ticker: AZN
Meeting Date: 27-Apr-23
1.
Accounts and Reports
Management
For
Voted - For
2.
Final Dividend
Management
For
Voted - For
3.
Appointment of Auditor
Management
For
Voted - For
4.
Authority to Set Auditor's Fees
Management
For
Voted - For
5a.
Elect Michel Demaré
Management
For
Voted - For
5b.
Elect Pascal Soriot
Management
For
Voted - For
5c.
Elect Aradhana Sarin
Management
For
Voted - For
5d.
Elect Philip Broadley
Management
For
Voted - For
5e.
Elect Euan Ashley
Management
For
Voted - For
5f.
Elect Deborah DiSanzo
Management
For
Voted - For
5g.
Elect Diana Layfield
Management
For
Voted - For
5h.
Elect Sherilyn S. McCoy
Management
For
Voted - For
5i.
Elect Tony MOK Shu Kam
Management
For
Voted - For
5j.
Elect Nazneen Rahman
Management
For
Voted - For
5k.
Elect Andreas Rummelt
Management
For
Voted - For
5l.
Elect Marcus Wallenberg
Management
For
Voted - For
6.
Remuneration Report
Management
For
Voted - For
7.
Authorisation of Political Donations
Management
For
Voted - For
8.
Authority to Issue Shares w/ Preemptive Rights
Management
For
Voted - For
9.
Authority to Issue Shares w/o Preemptive Rights
Management
For
Voted - For
10.
Authority to Issue Shares w/o Preemptive Rights (Specified Capital Investment)
Management
For
Voted - For
11.
Authority to Repurchase Shares
Management
For
Voted - For
12.
Authority to Set General Meeting Notice Period at 14 Days
Management
For
Voted - For
13.
Adoption of New Articles
Management
For
Voted - For
AUTOMATIC DATA PROCESSING INC.
Security ID: 053015103
Ticker: ADP
Meeting Date: 09-Nov-22
1a.
Elect Peter E. Bisson
Management
For
Voted - For
1b.
Elect David V. Goeckeler
Management
For
Voted - For
1c.
Elect Linnie M. Haynesworth
Management
For
Voted - For
1d.
Elect John P. Jones
Management
For
Voted - For
1e.
Elect Francine S. Katsoudas
Management
For
Voted - For


5

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

1f.
Elect Nazzic S. Keene
Management
For
Voted - For
1g.
Elect Thomas J. Lynch
Management
For
Voted - For
1h.
Elect Scott F. Powers
Management
For
Voted - For
1i.
Elect William J. Ready
Management
For
Voted - For
1j.
Elect Carlos A. Rodriguez
Management
For
Voted - For
1k.
Elect Sandra S. Wijnberg
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Ratification of Auditor
Management
For
Voted - For
4.
Amendment to the Employee Stock Purchase Plan
Management
For
Voted - For
BERKSHIRE HATHAWAY INC.
Security ID: 084670702
Ticker: BRKA
Meeting Date: 06-May-23
 
Elect Warren E. Buffett
Management
For
Voted - For
 
Elect Charles T. Munger
Management
For
Voted - For
 
Elect Gregory E. Abel
Management
For
Voted - For
 
Elect Howard G. Buffett
Management
For
Voted - For
 
Elect Susan A. Buffett
Management
For
Voted - For
 
Elect Stephen B. Burke
Management
For
Voted - For
 
Elect Kenneth I. Chenault
Management
For
Voted - For
 
Elect Christopher C. Davis
Management
For
Voted - For
 
Elect Susan L. Decker
Management
For
Voted - For
 
Elect Charlotte Guyman
Management
For
Voted - For
 
Elect Ajit Jain
Management
For
Voted - For
 
Elect Thomas S. Murphy, Jr.
Management
For
Voted - For
 
Elect Ronald L. Olson
Management
For
Voted - For
 
Elect Wallace R. Weitz
Management
For
Voted - For
 
Elect Meryl B. Witmer
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Shareholder Proposal Regarding Climate Report
Shareholder
Against
Voted - Against
5.
Shareholder Proposal Regarding Disclosure and Oversight of Climate Change Risks
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Aligning GHG Reductions with Paris Agreement
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Diversity and Inclusion Report
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Public Positions on Political Speech
Shareholder
Against
Voted - Against


6

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

BLACKROCK INC.
Security ID: 09247X101
Ticker: BLK
Meeting Date: 24-May-23
1a.
Elect Bader M. Alsaad
Management
For
Voted - For
1b.
Elect Pamela Daley
Management
For
Voted - For
1c.
Elect Laurence D. Fink
Management
For
Voted - For
1d.
Elect William E. Ford
Management
For
Voted - For
1e.
Elect Fabrizio Freda
Management
For
Voted - For
1f.
Elect Murry S. Gerber
Management
For
Voted - For
1g.
Elect Margaret “Peggy” L. Johnson
Management
For
Voted - For
1h.
Elect Robert S. Kapito
Management
For
Voted - For
1i.
Elect Cheryl D. Mills
Management
For
Voted - For
1j.
Elect Gordon M. Nixon
Management
For
Voted - For
1k.
Elect Kristin C. Peck
Management
For
Voted - For
1l.
Elect Charles H. Robbins
Management
For
Voted - For
1m.
Elect Marco Antonio Slim Domit
Management
For
Voted - For
1n.
Elect Hans E. Vestberg
Management
For
Voted - For
1o.
Elect Susan L. Wagner
Management
For
Voted - For
1p.
Elect Mark Wilson
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Civil Rights Audit
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Report on Pension Fund Clients’ Investment Returns
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Material Risks of iShares ETF
Shareholder
Against
Voted - Against
BROADRIDGE FINANCIAL SOLUTIONS, INC.
Security ID: 11133T103
Ticker: BR
Meeting Date: 10-Nov-22
1a.
Elect Leslie A. Brun
Management
For
Voted - For
1b.
Elect Pamela L. Carter
Management
For
Voted - For
1c.
Elect Richard J. Daly
Management
For
Voted - For
1d.
Elect Robert N. Duelks
Management
For
Voted - For
1e.
Elect Melvin L. Flowers
Management
For
Voted - For
1f.
Elect Timothy C. Gokey
Management
For
Voted - For
1g.
Elect Brett A. Keller
Management
For
Voted - For
1h.
Elect Maura A. Markus
Management
For
Voted - For
1i.
Elect Eileen K. Murray
Management
For
Voted - For
1j.
Elect Annette L. Nazareth
Management
For
Voted - For
1k.
Elect Thomas J. Perna
Management
For
Voted - For
1l.
Elect Amit K. Zavery
Management
For
Voted - For
2)
Advisory Vote on Executive Compensation
Management
For
Voted - For


7

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

3)
Ratification of Auditor
Management
For
Voted - For
CANADIAN PACIFIC KANSAS CITY LIMITED
Security ID: 13646K108
Ticker: CP
Meeting Date: 15-Jun-23
1
Appointment of Auditor
Management
For
Voted - For
2
Advisory Vote on Executive Compensation
Management
For
Voted - For
3
Advisory Vote on Approach to Climate Change
Management
For
Voted - For
4A
Elect John Baird
Management
For
Voted - For
4B
Elect Isabelle Courville
Management
For
Voted - For
4C
Elect Keith E. Creel
Management
For
Voted - For
4D
Elect Gillian H. Denham
Management
For
Voted - For
4E
Elect Antonio Garza
Management
For
Voted - For
4F
Elect David Garza-Santos
Management
For
Voted - For
4G
Elect Edward R. Hamberger
Management
For
Voted - For
4H
Elect Janet H. Kennedy
Management
For
Voted - For
4I
Elect Henry J. Maier
Management
For
Voted - For
4J
Elect Matthew H. Paull
Management
For
Voted - For
4K
Elect Jane L. Peverett
Management
For
Voted - For
4L
Elect Andrea Robertson
Management
For
Voted - For
4M
Elect Gordon T. Trafton
Management
For
Voted - For
CHEVRON CORP.
Security ID: 166764100
Ticker: CVX
Meeting Date: 31-May-23
1a.
Elect Wanda M. Austin
Management
For
Voted - For
1b.
Elect John B. Frank
Management
For
Voted - For
1c.
Elect Alice P. Gast
Management
For
Voted - For
1d.
Elect Enrique Hernandez, Jr.
Management
For
Voted - For
1e.
Elect Marillyn A. Hewson
Management
For
Voted - For
1f.
Elect Jon M. Huntsman Jr.
Management
For
Voted - For
1g.
Elect Charles W. Moorman
Management
For
Voted - For
1h.
Elect Dambisa F. Moyo
Management
For
Voted - For
1i.
Elect Debra L. Reed-Klages
Management
For
Voted - For
1j.
Elect D. James Umpleby III
Management
For
Voted - For
1k.
Elect Cynthia J. Warner
Management
For
Voted - For
1l.
Elect Michael K. Wirth
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Shareholder Proposal Regarding Rescission of Majority-Supported Shareholder Proposal
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Medium-Term Scope 3 Target
Shareholder
Against
Voted - Against


8

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

7.
Shareholder Proposal Regarding Recalculated Emissions Baseline
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Formation of Decarbonization Risk Committee
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Just Transition Reporting
Shareholder
Against
Voted - Against
10.
Shareholder Proposal Regarding Racial Equity Audit
Shareholder
Against
Voted - Against
11.
Shareholder Proposal Regarding Report on Tax Transparency
Shareholder
Against
Voted - Against
12.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
COCA-COLA CO
Security ID: 191216100
Ticker: KO
Meeting Date: 25-Apr-23
1a.
Elect Herbert A. Allen, III
Management
For
Voted - For
1b.
Elect Marc Bolland
Management
For
Voted - For
1c.
Elect Ana Patricia Botín-Sanz de Sautuola y O'Shea
Management
For
Voted - For
1d.
Elect Christopher C. Davis
Management
For
Voted - For
1e.
Elect Barry Diller
Management
For
Voted - For
1f.
Elect Carolyn N. Everson
Management
For
Voted - For
1g.
Elect Helene D. Gayle
Management
For
Voted - For
1h.
Elect Alexis M. Herman
Management
For
Voted - For
1i.
Elect Maria Elena Lagomasino
Management
For
Voted - For
1j.
Elect Amity Millhiser
Management
For
Voted - For
1k.
Elect James Quincey
Management
For
Voted - For
1l.
Elect Caroline J. Tsay
Management
For
Voted - For
1m.
Elect David B. Weinberg
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Racial Equity Audit
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Transparency Report on Global Public Policy and Political Influence
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Political Expenditures and Values Congruency
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Report On Risks From State Policies Restricting Reproductive Health Care
Shareholder
Against
Voted - Against
COMCAST CORP
Security ID: 20030N101
Ticker: CMCSA
Meeting Date: 07-Jun-23
 
Elect Kenneth J. Bacon
Management
For
Voted - Withheld
 
Elect Thomas J. Baltimore, Jr.
Management
For
Voted - For
 
Elect Madeline S. Bell
Management
For
Voted - For


9

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

 
Elect Edward D. Breen
Management
For
Voted - For
 
Elect Gerald L. Hassell
Management
For
Voted - For
 
Elect Jeffrey A. Honickman
Management
For
Voted - For
 
Elect Maritza Gomez Montiel
Management
For
Voted - For
 
Elect Asuka Nakahara
Management
For
Voted - For
 
Elect David C. Novak
Management
For
Voted - For
 
Elect Brian L. Roberts
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Approval of the 2023 Omnibus Equity Incentive Plan
Management
For
Voted - For
4.
Amendment to the 2002 Employee Stock Purchase Plan
Management
For
Voted - For
5.
Advisory Vote on Executive Compensation
Management
For
Voted - For
6.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
7.
Shareholder Proposal Regarding Racial Equity Audit
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Report on Climate Risk In Employee Retirement Default Options
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding GHG Targets and Alignment with Paris Agreement
Shareholder
Against
Voted - Against
10.
Shareholder Proposal Regarding Report on Political Expenditures and Values Congruency
Shareholder
Against
Voted - Against
11.
Shareholder Proposal Regarding Report on Corporate Operations with China
Shareholder
Against
Voted - Against
ENTERPRISES PRODUCTS PARTNERS L.P
Security ID: 293792107
Ticker: EPD
Meeting Date: 22-Nov-22
1.
Amendment to the 2008 Long-Term Incentive Plan
Management
For
Voted - For
2.
Amendment to the Unit Purchase Plan
Management
For
Voted - For
EOG RESOURCES, INC.
Security ID: 26875P101
Ticker: EOG
Meeting Date: 24-May-23
1a.
Elect Janet F. Clark
Management
For
Voted - For
1b.
Elect Charles R. Crisp
Management
For
Voted - For
1c.
Elect Robert P. Daniels
Management
For
Voted - For
1d.
Elect Lynn A. Dugle
Management
For
Voted - For
1e.
Elect C. Christopher Gaut
Management
For
Voted - For
1f.
Elect Michael T. Kerr
Management
For
Voted - For
1g.
Elect Julie J. Robertson
Management
For
Voted - For
1h.
Elect Donald F. Textor
Management
For
Voted - For
1i.
Elect Ezra Y. Yacob
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year


10

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

ESTEE LAUDER COS., INC.
Security ID: 518439104
Ticker: EL
Meeting Date: 18-Nov-22
1a.
Elect Ronald S. Lauder
Management
For
Voted - For
1b.
Elect William P. Lauder
Management
For
Voted - For
1c.
Elect Richard D. Parsons
Management
For
Voted - Withheld
1d.
Elect Lynn Forester de Rothschild
Management
For
Voted - For
1e.
Elect Jennifer Tejada
Management
For
Voted - For
1f.
Elect Richard F. Zannino
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - Against
EXXON MOBIL CORP.
Security ID: 30231G102
Ticker: XOM
Meeting Date: 31-May-23
1a.
Elect Michael J. Angelakis
Management
For
Voted - For
1b.
Elect Susan K. Avery
Management
For
Voted - For
1c.
Elect Angela F. Braly
Management
For
Voted - For
1d.
Elect Gregory J. Goff
Management
For
Voted - For
1e.
Elect John D. Harris II
Management
For
Voted - For
1f.
Elect Kaisa H. Hietala
Management
For
Voted - For
1g.
Elect Joseph L. Hooley
Management
For
Voted - For
1h.
Elect Steven A. Kandarian
Management
For
Voted - For
1i.
Elect Alexander A. Karsner
Management
For
Voted - For
1j.
Elect Lawrence W. Kellner
Management
For
Voted - For
1k.
Elect Jeffrey W. Ubben
Management
For
Voted - For
1l.
Elect Darren W. Woods
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Shareholder Proposal Regarding Formation of Decarbonization Risk Committee
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Retention of Shares Until Normal Retirement Age
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Carbon Capture and Storage
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Methane Emission Disclosures
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Medium-Term Scope 3 Target
Shareholder
Against
Voted - Against
10.
Shareholder Proposal Regarding Report on Guyanese Operations
Shareholder
Against
Voted - Against
11.
Shareholder Proposal Regarding Recalculated Emissions Baseline
Shareholder
Against
Voted - Against


11

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

12.
Shareholder Proposal Regarding Audited Report on Asset Retirement Obligations
Shareholder
Against
Voted - Against
13.
Shareholder Proposal Regarding Addressing Virgin Plastic Demand
Shareholder
Against
Voted - Against
14.
Shareholder Proposal Regarding Environmental Litigation
Shareholder
Against
Voted - Against
15.
Shareholder Proposal Regarding Report on Tax Transparency
Shareholder
Against
Voted - Against
16.
Shareholder Proposal Regarding Just Transition Reporting
Shareholder
Against
Voted - Against
17.
Shareholder Proposal Regarding Report on Exploration and Production in the Arctic Refuge
Shareholder
Against
Voted - Against
HESS CORPORATION
Security ID: 42809H107
Ticker: HES
Meeting Date: 17-May-23
1a.
Elect Terrence J. Checki
Management
For
Voted - For
1b.
Elect Leonard S. Coleman, Jr.
Management
For
Voted - For
1c.
Elect Lisa Glatch
Management
For
Voted - For
1d.
Elect John B. Hess
Management
For
Voted - For
1e.
Elect Edith E. Holiday
Management
For
Voted - For
1f.
Elect Marc S. Lipschultz
Management
For
Voted - For
1g.
Elect Raymond J. McGuire
Management
For
Voted - For
1h.
Elect David McManus
Management
For
Voted - For
1i.
Elect Kevin O. Meyers
Management
For
Voted - For
1j.
Elect Karyn F. Ovelmen
Management
For
Voted - For
1k.
Elect James H. Quigley
Management
For
Voted - For
1l.
Elect William G. Schrader
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
INTERCONTINENTAL EXCHANGE INC
Security ID: 45866F104
Ticker: ICE
Meeting Date: 19-May-23
1a.
Elect Sharon Y. Bowen
Management
For
Voted - For
1b.
Elect Shantella E. Cooper
Management
For
Voted - For
1c.
Elect Duriya M. Farooqui
Management
For
Voted - For
1d.
Elect Lord Hague of Richmond
Management
For
Voted - For
1e.
Elect Mark F. Mulhern
Management
For
Voted - For
1f.
Elect Thomas E. Noonan
Management
For
Voted - For
1g.
Elect Caroline L. Silver
Management
For
Voted - For
1h.
Elect Jeffrey C. Sprecher
Management
For
Voted - For
1i.
Elect Judith A. Sprieser
Management
For
Voted - For
1j.
Elect Martha A. Tirinnanzi
Management
For
Voted - For


12

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Allowing Beneficial Owners to Call Special Meetings
Shareholder
Against
Voted - Against
INTUIT INC
Security ID: 461202103
Ticker: INTU
Meeting Date: 19-Jan-23
1a.
Elect Eve Burton
Management
For
Voted - For
1b.
Elect Scott D. Cook
Management
For
Voted - For
1c.
Elect Richard L. Dalzell
Management
For
Voted - For
1d.
Elect Sasan Goodarzi
Management
For
Voted - For
1e.
Elect Deborah Liu
Management
For
Voted - For
1f.
Elect Tekedra Mawakana
Management
For
Voted - For
1g.
Elect Suzanne Nora Johnson
Management
For
Voted - For
1h.
Elect Thomas J. Szkutak
Management
For
Voted - For
1i.
Elect Raul Vazquez
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Ratification of Auditor
Management
For
Voted - For
4.
Amendment to the Employee Stock Purchase Plan
Management
For
Voted - For
INTUITIVE SURGICAL INC
Security ID: 46120E602
Ticker: ISRG
Meeting Date: 27-Apr-23
1a.
Elect Craig H. Barratt
Management
For
Voted - For
1b.
Elect Joseph C. Beery
Management
For
Voted - For
1c.
Elect Gary S. Guthart
Management
For
Voted - For
1d.
Elect Amal M. Johnson
Management
For
Voted - For
1e.
Elect Don R. Kania
Management
For
Voted - For
1f.
Elect Amy L. Ladd
Management
For
Voted - For
1g.
Elect Keith R. Leonard, Jr.
Management
For
Voted - For
1h.
Elect Alan J. Levy
Management
For
Voted - For
1i.
Elect Jami Dover Nachtsheim
Management
For
Voted - For
1j.
Elect Monica P. Reed
Management
For
Voted - For
1k.
Elect Mark J. Rubash
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Median Gender and Racial Pay Equity Report
Shareholder
Against
Voted - Against


13

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

JPMORGAN CHASE & CO.
Security ID: 46625H100
Ticker: JPM
Meeting Date: 16-May-23
1a.
Elect Linda B. Bammann
Management
For
Voted - For
1b.
Elect Stephen B. Burke
Management
For
Voted - For
1c.
Elect Todd A. Combs
Management
For
Voted - For
1d.
Elect James S. Crown
Management
For
Voted - For
1e.
Elect Alicia Boler Davis
Management
For
Voted - For
1f.
Elect James Dimon
Management
For
Voted - For
1g.
Elect Timothy P. Flynn
Management
For
Voted - For
1h.
Elect Alex Gorsky
Management
For
Voted - For
1i.
Elect Mellody Hobson
Management
For
Voted - For
1j.
Elect Michael A. Neal
Management
For
Voted - For
1k.
Elect Phebe N. Novakovic
Management
For
Voted - For
1l.
Elect Virginia M. Rometty
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Fossil Fuel Lending and Underwriting Policy
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Revision of Committee Charter to Include Oversight of Animal Welfare
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Right to Call Special Meetings by  Beneficial Owners
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Transition Plan Report for Financing Activities
Shareholder
Against
Voted - Against
10.
Shareholder Proposal Regarding Report on Board Oversight of Discrimination
Shareholder
Against
Voted - Against
11.
Shareholder Proposal Regarding Report on Political Expenditures and Values Congruency
Shareholder
Against
Voted - Against
12.
Shareholder Proposal Regarding Absolute GHG Reduction Targets
Shareholder
Against
Voted - Against
LVMH MOET HENNESSY VUITTON SE
Security ID: F58485115
Ticker: LVMUY
Meeting Date: 20-Apr-23
1
Accounts and Reports
Management
For
Voted - For
2
Consolidated Accounts and Reports
Management
For
Voted - For
3
Allocation of Profits/Dividends
Management
For
Voted - For
4
Special Auditors Report on Regulated Agreements
Management
For
Voted - For
5
Elect Delphine Arnault
Management
For
Voted - For
6
Elect Antonio Belloni
Management
For
Voted - For
7
Elect Marie-Josée Kravis
Management
For
Voted - Against


14

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

8
Elect Marie-Laure Sauty de Chalon
Management
For
Voted - For
9
Elect Natacha Valla
Management
For
Voted - For
10
Elect Laurent Mignon
Management
For
Voted - For
11
Elect Lord Powell of Bayswater as Censor
Management
For
Voted - Against
12
Elect Diego Della Valle as Censor
Management
For
Voted - Against
13
2022 Remuneration Report
Management
For
Voted - Against
14
2022 Remuneration of Bernard Arnault, Chair and CEO
Management
For
Voted - Against
15
2022 Remuneration of Antonio Belloni, Deputy CEO
Management
For
Voted - Against
16
2023 Remuneration Policy (Board of Directors)
Management
For
Voted - For
17
2023 Remuneration Policy (Chair and CEO)
Management
For
Voted - Against
18
2023 Remuneration Policy (Deputy CEO)
Management
For
Voted - Against
19
Authority to Repurchase and Reissue Shares
Management
For
Voted - For
20
Authority to Cancel Shares and Reduce Capital
Management
For
Voted - For
21
Authority to Increase Capital Through Capitalisations
Management
For
Voted - For
22
Authority to Issue Shares and Convertible Debt w/ Preemptive Rights
Management
For
Voted - For
23
Authority to Issue Shares and Convertible Debt w/o Preemptive Rights
Management
For
Voted - For
24
Authority to Issue Shares and Convertible Debt Through Private Placement (Qualified Investors)
Management
For
Voted - For
25
Greenshoe
Management
For
Voted - For
26
Authority to Increase Capital in Case of Exchange Offers
Management
For
Voted - For
27
Authority to Increase Capital in Consideration for Contributions In Kind
Management
For
Voted - For
28
Authority to Grant Stock Options
Management
For
Voted - Against
29
Employee Stock Purchase Plan
Management
For
Voted - For
30
Global Ceiling on Capital Increases and Debt Issuances
Management
For
Voted - For
MARRIOTT INTERNATIONAL, INC.
Security ID: 571903202
Ticker: MAR
Meeting Date: 12-May-23
1a.
Elect Anthony G. Capuano
Management
For
Voted - For
1b.
Elect Isabella D. Goren
Management
For
Voted - For
1c.
Elect Deborah Marriott Harrison
Management
For
Voted - For
1d.
Elect Frederick A. Henderson
Management
For
Voted - For
1e.
Elect Eric Hippeau
Management
For
Voted - For
1f.
Elect Lauren R. Hobart
Management
For
Voted - For
1g.
Elect Debra L. Lee
Management
For
Voted - For
1h.
Elect Aylwin B. Lewis
Management
For
Voted - For
1i.
Elect David S. Marriott
Management
For
Voted - For
1j.
Elect Margaret M. McCarthy
Management
For
Voted - For
1k.
Elect Grant F. Reid
Management
For
Voted - For
1l.
Elect Horacio D. Rozanski
Management
For
Voted - For
1m.
Elect Susan C. Schwab
Management
For
Voted - For


15

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Approval of the 2023 Stock and Cash Incentive Plan
Management
For
Voted - For
6.
Shareholder Proposal Regarding Transparency Report on Congruency of Partnerships with Globalist Organizations
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Median Gender and Racial Pay Equity Report
Shareholder
Against
Voted - Against
MASTERCARD INCORPORATED
Security ID: 57636Q104
Ticker: MA
Meeting Date: 27-Jun-23
1a.
Elect Merit E. Janow
Management
For
Voted - For
1b.
Elect Candido Botelho Bracher
Management
For
Voted - For
1c.
Elect Richard K. Davis
Management
For
Voted - For
1d.
Elect Julius Genachowski
Management
For
Voted - For
1e.
Elect Choon Phong Goh
Management
For
Voted - For
1f.
Elect Oki Matsumoto
Management
For
Voted - For
1g.
Elect Michael Miebach
Management
For
Voted - For
1h.
Elect Youngme E. Moon
Management
For
Voted - For
1i.
Elect Rima Qureshi
Management
For
Voted - For
1j.
Elect Gabrielle Sulzberger
Management
For
Voted - For
1k.
Elect Harit Talwar
Management
For
Voted - For
1l.
Elect Lance Uggla
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Approval of the Employee Stock Purchase Plan
Management
For
Voted - For
5.
Ratification of Auditor
Management
For
Voted - For
6.
Shareholder Proposal Regarding Report on Board Oversight of Discrimination
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Oversight of Merchant Category Codes
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Lobbying Report
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Shareholder Approval of Advance Notice Provisions
Shareholder
Against
Voted - Against
10.
Shareholder Proposal Regarding Cost Benefit Analysis of Global Diversity and Inclusion Efforts
Shareholder
Against
Voted - Against
MCDONALD`S CORP
Security ID: 580135101
Ticker: MCD
Meeting Date: 25-May-23
1a.
Elect Anthony G. Capuano
Management
For
Voted - For
1b.
Elect Kareem Daniel
Management
For
Voted - For
1c.
Elect Lloyd H. Dean
Management
For
Voted - For


16

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

1d.
Elect Catherine Engelbert
Management
For
Voted - For
1e.
Elect Margaret H. Georgiadis
Management
For
Voted - For
1f.
Elect Enrique Hernandez, Jr.
Management
For
Voted - For
1g.
Elect Christopher Kempczinski
Management
For
Voted - For
1h.
Elect Richard H. Lenny
Management
For
Voted - For
1i.
Elect John Mulligan
Management
For
Voted - For
1j.
Elect Jennifer Taubert
Management
For
Voted - For
1k.
Elect Paul S. Walsh
Management
For
Voted - For
1l.
Elect Amy Weaver
Management
For
Voted - For
1m.
Elect Miles D. White
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Policy on Use of Medically-Important Antibiotics in the Beef and Pork Supply Chain
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Compliance With WHO Guidelines on Medically-Important Antimicrobials in Supply Chain
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Corporate Operations with China
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Civil Rights Audit
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Lobbying Report
Shareholder
Against
Voted - Against
10.
Shareholder Proposal Regarding Transparency Report on Global Public Policy And Political Influence
Shareholder
Against
Voted - Against
11.
Shareholder Proposal Regarding Disclosure of Animal Welfare Indicators
Shareholder
Against
Voted - Against
MICROSOFT CORPORATION
Security ID: 594918104
Ticker: MSFT
Meeting Date: 13-Dec-22
1a.
Elect Reid G. Hoffman
Management
For
Voted - For
1b.
Elect Hugh F. Johnston
Management
For
Voted - For
1c.
Elect Teri L. List
Management
For
Voted - For
1d.
Elect Satya Nadella
Management
For
Voted - For
1e.
Elect Sandra E. Peterson
Management
For
Voted - For
1f.
Elect Penny S. Pritzker
Management
For
Voted - For
1g.
Elect Carlos A. Rodriguez
Management
For
Voted - For
1h.
Elect Charles W. Scharf
Management
For
Voted - For
1i.
Elect John W. Stanton
Management
For
Voted - For
1j.
Elect John W. Thompson
Management
For
Voted - For
1k.
Elect Emma N. Walmsley
Management
For
Voted - For
1l.
Elect Padmasree Warrior
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Ratification of Auditor
Management
For
Voted - For
4.
Shareholder Proposal Regarding Cost Benefit Analysis of Global Diversity and Inclusion Efforts
Shareholder
Against
Voted - Against


17

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

5.
Shareholder Proposal Regarding Report on Hiring Practices
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Managing Climate Risk in Employee Retirement Options
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Government Use of Technology
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Risks of Developing Military Weapons
Shareholder
Against
Voted - Against
9.
Shareholder Proposal Regarding Report on Tax Transparency
Shareholder
Against
Voted - Against
NESTLE SA
Security ID: 641069406
Ticker: NSRGY
Meeting Date: 20-Apr-23
1A
Accounts and Reports
Management
For
Voted - For
1B
Compensation Report
Management
For
Voted - For
2
Ratification of Board and Management Acts
Management
For
Voted - For
3
Allocation of Dividends
Management
For
Voted - For
4AA
Elect Paul Bulcke
Management
For
Voted - For
4AB
Elect Mark Schneider
Management
For
Voted - For
4AC
Elect Henri de Castries
Management
For
Voted - For
4AD
Elect Renato Fassbind
Management
For
Voted - For
4AE
Elect Pablo Isla Álvarez de Tejera
Management
For
Voted - For
4AF
Elect Patrick Aebischer
Management
For
Voted - For
4AG
Elect Kimberly A. Ross
Management
For
Voted - For
4AH
Elect Dick Boer
Management
For
Voted - For
4AI
Elect Dinesh C. Paliwal
Management
For
Voted - For
4AJ
Elect Hanne de Mora
Management
For
Voted - For
4AK
Elect Lindiwe Majele Sibanda
Management
For
Voted - For
4AL
Elect Chris Leong
Management
For
Voted - For
4AM
Elect Luca Maestri
Management
For
Voted - For
4BA
Elect Rainer M. Blair
Management
For
Voted - For
4BB
Elect Marie-Gabrielle Ineichen-Fleisch
Management
For
Voted - For
4CA
Elect Pablo Isla Álvarez de Tejera as Compensation Committee Member
Management
For
Voted - For
4CB
Elect Patrick Aebischer as Compensation Committee Member
Management
For
Voted - For
4CC
Elect Dick Boer as Compensation Committee Member
Management
For
Voted - For
4CD
Elect Dinesh C. Paliwal as Compensation Committee Member
Management
For
Voted - For
4D
Appointment of Auditor
Management
For
Voted - For
4E
Appointment of Independent Proxy
Management
For
Voted - For
5A
Board Compensation
Management
For
Voted - For
5B
Executive Compensation
Management
For
Voted - For
6
Cancellation of Shares and Reduction in Share Capital
Management
For
Voted - For
7A
Amendments to Articles (General Meeting)
Management
For
Voted - For


18

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

7B
Amendments to Articles
Management
For
Voted - For
8
Additional or Amended Shareholder Proposals
Shareholder
Against
Voted - Against
NIKE, INC.
Security ID: 654106103
Ticker: NKE
Meeting Date: 09-Sep-22
1a.
Elect Alan B. Graf, Jr.
Management
For
Voted - For
1b.
Elect Peter B. Henry
Management
For
Voted - For
1c.
Elect Michelle A. Peluso
Management
For
Voted - Withheld
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Ratification of Auditor
Management
For
Voted - For
4.
Amendment to the Employee Stock Purchase Plan
Management
For
Voted - For
5.
Shareholder Proposal Regarding Policy to Pause Sourcing of Raw Materials from China
Shareholder
Against
Voted - Against
OTIS WORLDWIDE CORP
Security ID: 68902V107
Ticker: OTIS
Meeting Date: 18-May-23
1a.
Elect Jeffrey H. Black
Management
For
Voted - For
1b.
Elect Nelda J. Connors
Management
For
Voted - For
1c.
Elect Kathy Hopinkah Hannan
Management
For
Voted - For
1d.
Elect Shailesh G. Jejurikar
Management
For
Voted - For
1e.
Elect Christopher J. Kearney
Management
For
Voted - For
1f.
Elect Judith F. Marks
Management
For
Voted - For
1g.
Elect Harold W. McGraw III
Management
For
Voted - For
1h.
Elect Margaret M.V. Preston
Management
For
Voted - For
1i.
Elect Shelley Stewart, Jr.
Management
For
Voted - For
1j.
Elect John H. Walker
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Ratification of Auditor
Management
For
Voted - For
4.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
PEPSICO INC
Security ID: 713448108
Ticker: PEP
Meeting Date: 03-May-23
1a.
Elect Segun Agbaje
Management
For
Voted - For
1b.
Elect Jennifer Bailey
Management
For
Voted - For
1c.
Elect Cesar Conde
Management
For
Voted - For
1d.
Elect Ian M. Cook
Management
For
Voted - For
1e.
Elect Edith W. Cooper
Management
For
Voted - For
1f.
Elect Susan M. Diamond
Management
For
Voted - For
1g.
Elect Dina Dublon
Management
For
Voted - For


19

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

1h.
Elect Michelle D. Gass
Management
For
Voted - For
1i.
Elect Ramon L. Laguarta
Management
For
Voted - For
1j.
Elect Dave Lewis
Management
For
Voted - For
1k.
Elect David C. Page
Management
For
Voted - For
1l.
Elect Robert C. Pohlad
Management
For
Voted - For
1m.
Elect Daniel L. Vasella
Management
For
Voted - For
1n.
Elect Darren Walker
Management
For
Voted - For
1o.
Elect Alberto Weisser
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Transparency Report on Global Public Policy and Political Influence
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report On Risks From State Policies Restricting Reproductive Health Care
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Congruency Report on Net-Zero Emissions Policy
Shareholder
Against
Voted - Against
PHILIP MORRIS INTERNATIONAL INC
Security ID: 718172109
Ticker: PM
Meeting Date: 03-May-23
1a.
Elect Brant (Bonin) Bough
Management
For
Voted - For
1b.
Elect André Calantzopoulos
Management
For
Voted - For
1c.
Elect Michel  Combes
Management
For
Voted - For
1d.
Elect Juan José Daboub
Management
For
Voted - For
1e.
Elect Werner Geissler
Management
For
Voted - For
1f.
Elect Lisa A. Hook
Management
For
Voted - For
1g.
Elect Jun Makihara
Management
For
Voted - For
1h.
Elect Kalpana Morparia
Management
For
Voted - For
1i.
Elect Jacek Olczak
Management
For
Voted - For
1j.
Elect Robert B. Polet
Management
For
Voted - For
1k.
Elect Dessislava Temperley
Management
For
Voted - For
1l.
Elect Shlomo Yanai
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Nicotine Levels in Tobacco Products
Shareholder
Against
Voted - Against
PROCTER & GAMBLE CO.
Security ID: 742718109
Ticker: PG
Meeting Date: 11-Oct-22
1a.
Elect B. Marc Allen
Management
For
Voted - For


20

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

1b.
Elect Angela F. Braly
Management
For
Voted - For
1c.
Elect Amy L. Chang
Management
For
Voted - For
1d.
Elect Joseph Jimenez
Management
For
Voted - For
1e.
Elect Christopher Kempczinski
Management
For
Voted - For
1f.
Elect Debra L. Lee
Management
For
Voted - For
1g.
Elect Terry J. Lundgren
Management
For
Voted - For
1h.
Elect Christine M. McCarthy
Management
For
Voted - For
1i.
Elect Jon R. Moeller
Management
For
Voted - For
1j.
Elect Rajesh Subramaniam
Management
For
Voted - For
1k.
Elect Patricia A. Woertz
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For
3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
PROGRESSIVE CORP.
Security ID: 743315103
Ticker: PGR
Meeting Date: 12-May-23
1a.
Elect Danelle M. Barrett
Management
For
Voted - For
1b.
Elect Philip F. Bleser
Management
For
Voted - For
1c.
Elect Stuart B. Burgdoerfer
Management
For
Voted - For
1d.
Elect Pamela J. Craig
Management
For
Voted - For
1e.
Elect Charles A. Davis
Management
For
Voted - For
1f.
Elect Roger N. Farah
Management
For
Voted - For
1g.
Elect Lawton W. Fitt
Management
For
Voted - For
1h.
Elect Susan Patricia Griffith
Management
For
Voted - For
1i.
Elect Devin C. Johnson
Management
For
Voted - For
1j.
Elect Jeffrey D. Kelly
Management
For
Voted - For
1k.
Elect Barbara R. Snyder
Management
For
Voted - For
1l.
Elect Kahina Van Dyke
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
RAYTHEON TECHNOLOGIES CORPORATION
Security ID: 75513E101
Ticker: RTX
Meeting Date: 02-May-23
1a.
Elect Tracy A. Atkinson
Management
For
Voted - For
1b.
Elect Leanne G. Caret
Management
For
Voted - For
1c.
Elect Bernard A. Harris, Jr.
Management
For
Voted - For
1d.
Elect Gregory J. Hayes
Management
For
Voted - For
1e.
Elect George R. Oliver
Management
For
Voted - For
1f.
Elect Robert K. Ortberg
Management
For
Voted - For
1g.
Elect Dinesh C. Paliwal
Management
For
Voted - For
1h.
Elect Ellen M. Pawlikowski
Management
For
Voted - For
1i.
Elect Denise L. Ramos
Management
For
Voted - For


21

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

1j.
Elect Fredric G. Reynolds
Management
For
Voted - For
1k.
Elect Brian C. Rogers
Management
For
Voted - For
1l.
Elect James A. Winnefeld, Jr.
Management
For
Voted - For
1m.
Elect Robert O. Work
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Elimination of Supermajority Requirement
Management
For
Voted - For
6.
Amendment to Articles to Limit Liability of Certain Officers
Management
For
Voted - For
7.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
8.
Shareholder Proposal Regarding Report on Aligning Value Chain GHG Reductions with Paris Agreement
Shareholder
Against
Voted - Against
S&P GLOBAL INC
Security ID: 78409V104
Ticker: SPGI
Meeting Date: 03-May-23
1A.
Elect Marco Alverà
Management
For
Voted - For
1B.
Elect Jacques Esculier
Management
For
Voted - For
1C.
Elect Gay Huey Evans
Management
For
Voted - For
1D.
Elect William D. Green
Management
For
Voted - For
1E.
Elect Stephanie C. Hill
Management
For
Voted - For
1F.
Elect Rebecca Jacoby
Management
For
Voted - For
1G.
Elect Robert P. Kelly
Management
For
Voted - For
1H.
Elect Ian P. Livingston
Management
For
Voted - For
1I.
Elect Deborah D. McWhinney
Management
For
Voted - For
1J.
Elect Maria R. Morris
Management
For
Voted - For
1K.
Elect Douglas L. Peterson
Management
For
Voted - For
1L.
Elect Richard E. Thornburgh
Management
For
Voted - For
1M.
Elect Gregory Washington
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
SHERWIN-WILLIAMS CO.
Security ID: 824348106
Ticker: SHW
Meeting Date: 19-Apr-23
1a.
Elect Kerrii B. Anderson
Management
For
Voted - For
1b.
Elect Arthur F. Anton
Management
For
Voted - For
1c.
Elect Jeff M. Fettig
Management
For
Voted - For
1d.
Elect John G. Morikis
Management
For
Voted - For
1e.
Elect Christine A. Poon
Management
For
Voted - For
1f.
Elect Aaron M. Powell
Management
For
Voted - For
1g.
Elect Marta R. Stewart
Management
For
Voted - For


22

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

1h.
Elect Michael H. Thaman
Management
For
Voted - For
1i.
Elect Matthew Thornton III
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
TEXAS INSTRUMENTS INC.
Security ID: 882508104
Ticker: TXN
Meeting Date: 27-Apr-23
1a.
Elect Mark A. Blinn
Management
For
Voted - For
1b.
Elect Todd M. Bluedorn
Management
For
Voted - For
1c.
Elect Janet F. Clark
Management
For
Voted - For
1d.
Elect Carrie S. Cox
Management
For
Voted - For
1e.
Elect Martin S. Craighead
Management
For
Voted - For
1f.
Elect Curtis C. Farmer
Management
For
Voted - For
1g.
Elect Jean M. Hobby
Management
For
Voted - For
1h.
Elect Haviv Ilan
Management
For
Voted - For
1i.
Elect Ronald Kirk
Management
For
Voted - For
1j.
Elect Pamela H. Patsley
Management
For
Voted - For
1k.
Elect Robert E. Sanchez
Management
For
Voted - For
1l.
Elect Richard K. Templeton
Management
For
Voted - For
2.
Amendment to the 2014 Employee Stock Purchase Plan
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Advisory Vote on Executive Compensation
Management
For
Voted - For
5.
Ratification of Auditor
Management
For
Voted - For
6.
Shareholder Proposal Regarding Right to Call Special Meetings
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Report on Customer Due Diligence
Shareholder
Against
Voted - Against
UNION PACIFIC CORP.
Security ID: 907818108
Ticker: UNP
Meeting Date: 18-May-23
1a.
Elect William J. DeLaney
Management
For
Voted - For
1b.
Elect David B. Dillon
Management
For
Voted - For
1c.
Elect Sheri H. Edison
Management
For
Voted - For
1d.
Elect Teresa M. Finley
Management
For
Voted - For
1e.
Elect Lance M. Fritz
Management
For
Voted - For
1f.
Elect Deborah C. Hopkins
Management
For
Voted - For
1g.
Elect Jane H. Lute
Management
For
Voted - For
1h.
Elect Michael R. McCarthy
Management
For
Voted - For
1i.
Elect Jose H. Villarreal
Management
For
Voted - For
1j.
Elect Christopher J. Williams
Management
For
Voted - For
2.
Ratification of Auditor
Management
For
Voted - For


23

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

3.
Advisory Vote on Executive Compensation
Management
For
Voted - For
4.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
5.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Shareholder Approval of Advance Notice Provisions
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Paid Sick Leave
Shareholder
Against
Voted - Against
UNITEDHEALTH GROUP INC
Security ID: 91324P102
Ticker: UNH
Meeting Date: 05-Jun-23
1a.
Elect Timothy P. Flynn
Management
For
Voted - For
1b.
Elect Paul R. Garcia
Management
For
Voted - For
1c.
Elect Kristen Gil
Management
For
Voted - For
1d.
Elect Stephen J. Hemsley
Management
For
Voted - For
1e.
Elect Michele J. Hooper
Management
For
Voted - For
1f.
Elect F. William McNabb, III
Management
For
Voted - For
1g.
Elect Valerie C. Montgomery Rice
Management
For
Voted - For
1h.
Elect John H. Noseworthy
Management
For
Voted - For
1i.
Elect Andrew Witty
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Racial Equity Audit
Shareholder
Against
Voted - Against
6.
Shareholder Proposal Regarding Report on Political Expenditures and Values Congruency
Shareholder
Against
Voted - Against
7.
Shareholder Proposal Regarding Severance Approval Policy
Shareholder
Against
Voted - Against
VERISK ANALYTICS INC
Security ID: 92345Y106
Ticker: VRSK
Meeting Date: 17-May-23
1a.
Elect Vincent K. Brooks
Management
For
Voted - For
1b.
Elect Jeffrey Dailey
Management
For
Voted - For
1c.
Elect Wendy E. Lane
Management
For
Voted - For
1d.
Elect Lee M. Shavel
Management
For
Voted - For
1e.
Elect Kimberly S. Stevenson
Management
For
Voted - For
1f.
Elect Olumide Soroye
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For


24

Sarofim Equity Fund
 
Proposal
Proposed by
Mgt. Position
Registrant Voted

VISA INC
Security ID: 92826C839
Ticker: V
Meeting Date: 24-Jan-23
1a.
Elect Lloyd A. Carney
Management
For
Voted - For
1b.
Elect Kermit R. Crawford
Management
For
Voted - For
1c.
Elect Francisco Javier Fernández-Carbajal
Management
For
Voted - For
1d.
Elect Alfred F. Kelly, Jr.
Management
For
Voted - For
1e.
Elect Ramon L. Laguarta
Management
For
Voted - For
1f.
Elect Teri L. List
Management
For
Voted - For
1g.
Elect John F. Lundgren
Management
For
Voted - For
1h.
Elect Denise M. Morrison
Management
For
Voted - For
1i.
Elect Linda Rendle
Management
For
Voted - For
1j.
Elect Maynard G. Webb
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Frequency of Advisory Vote on Executive Compensation
Management
For
Voted - 1 Year
4.
Ratification of Auditor
Management
For
Voted - For
5.
Shareholder Proposal Regarding Independent Chair
Shareholder
Against
Voted - Against
ZOETIS INC
Security ID: 98978V103
Ticker: ZTS
Meeting Date: 18-May-23
1a.
Elect Paul M. Bisaro
Management
For
Voted - For
1b.
Elect Vanessa Broadhurst
Management
For
Voted - For
1c.
Elect Frank A. D'Amelio
Management
For
Voted - For
1d.
Elect Michael B. McCallister
Management
For
Voted - For
1e.
Elect Gregory Norden
Management
For
Voted - For
1f.
Elect Louise M. Parent
Management
For
Voted - For
1g.
Elect Kristin C. Peck
Management
For
Voted - For
1h.
Elect Robert W. Scully
Management
For
Voted - For
2.
Advisory Vote on Executive Compensation
Management
For
Voted - For
3.
Ratification of Auditor
Management
For
Voted - For
4.
Amendment Regarding Ownership Threshold for Shareholders to Call a Special Meeting
Management
For
Voted - For
5.
Shareholder Proposal Regarding Right to Call Special Meeting
Shareholder
Against
Voted - Against
         



25


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.


The Advisors’ Inner Circle Fund

By:   /s/ Michael Beattie
Michael Beattie
President
Date: August 4, 2023








26