UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act File number: 811-07242

The Cutler Trust

(Exact name of registrant as specified in charter)

525 Bigham Knoll, Jacksonville, OR 97530

(Address of principal executive offices) (Zip code)

Erich M. Patten

Cutler Investment Counsel, LLC

525 Bigham Knoll

Jacksonville, OR 97530

(Name and address of agent for service)

Copies to:

Cassandra Borchers, Esq.

Thompson Hine LLP

312 Walnut Street

14^th Floor

Cincinnati, OH 45202-4089

Registrant's telephone number, including area code: 541-770-9000

Date of fiscal year end: June 30^th

Date of reporting period: 07/01/19 - 06/30/20

Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (Secs. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Sec. 3507.

Cutler Equity Fund

Proxy Voting Record

July 1, 2019 – June 30, 2020

Investment Company Report

THE PROCTER & GAMBLE COMPANY
Security				742718109		Meeting Type		Annual
Ticker Symbol				PG		Meeting Date		08-Oct-2019
ISIN				US7427181091		Agenda		935072998 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Francis S. Blake				Management	For	For
1B.	Election of Director: Angela F. Braly				Management	For	For
1C.	Election of Director: Amy L. Chang				Management	For	For
1D.	Election of Director: Scott D. Cook				Management	For	For
1E.	Election of Director: Joseph Jimenez				Management	For	For
1F.	Election of Director: Terry J. Lundgren				Management	For	For
1G.	Election of Director: Christine M. McCarthy				Management	For	For
1H.	Election of Director: W. James McNerney, Jr.				Management	For	For
1I.	Election of Director: Nelson Peltz				Management	For	For
1J.	Election of Director: David S. Taylor				Management	For	For
1K.	Election of Director: Margaret C. Whitman				Management	For	For
1L.	Election of Director: Patricia A. Woertz				Management	For	For
2.	Ratify Appointment of the Independent Registered Public Accounting Firm				Management	For	For
3.	Advisory Vote to Approve the Company's Executive Compensation (the "Say on Pay" vote)				Management	For	For
4.	Approval of The Procter & Gamble 2019 Stock and Incentive Compensation Plan				Management	For	For
MICROSOFT CORPORATION
Security				594918104		Meeting Type		Annual
Ticker Symbol				MSFT		Meeting Date		04-Dec-2019
ISIN				US5949181045		Agenda		935092849 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: William H. Gates III				Management	For	For
1B.	Election of Director: Reid G. Hoffman				Management	For	For
1C.	Election of Director: Hugh F. Johnston				Management	For	For
1D.	Election of Director: Teri L. List-Stoll				Management	For	For
1E.	Election of Director: Satya Nadella				Management	For	For
1F.	Election of Director: Sandra E. Peterson				Management	For	For
1G.	Election of Director: Penny S. Pritzker				Management	For	For
1H.	Election of Director: Charles W. Scharf				Management	For	For
1I.	Election of Director: Arne M. Sorenson				Management	For	For
1J.	Election of Director: John W. Stanton				Management	For	For
1K.	Election of Director: John W. Thompson				Management	For	For
1L.	Election of Director: Emma Walmsley				Management	For	For
1M.	Election of Director: Padmasree Warrior				Management	For	For
2.	Advisory vote to approve named executive officer compensation				Management	For	For
3.	Ratification of Deloitte & Touche LLP as our independent auditor for fiscal year 2020				Management	For	For
4.	Shareholder Proposal - Report on Employee Representation on Board of Directors				Shareholder	Against	For
5.	Shareholder Proposal - Report on Gender Pay Gap				Shareholder	Against	For
MEDTRONIC PLC
Security				G5960L103		Meeting Type		Annual
Ticker Symbol				MDT		Meeting Date		06-Dec-2019
ISIN				IE00BTN1Y115		Agenda		935094336 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Richard H. Anderson				Management	For	For
1B.	Election of Director: Craig Arnold				Management	For	For
1C.	Election of Director: Scott C. Donnelly				Management	For	For
1D.	Election of Director: Andrea J. Goldsmith, Ph.D.				Management	For	For
1E.	Election of Director: Randall J. Hogan, III				Management	For	For
1F.	Election of Director: Omar Ishrak				Management	For	For
1G.	Election of Director: Michael O. Leavitt				Management	For	For
1H.	Election of Director: James T. Lenehan				Management	For	For
1I.	Election of Director: Geoffrey S. Martha				Management	For	For
1J.	Election of Director: Elizabeth G. Nabel, M.D.				Management	For	For
1K.	Election of Director: Denise M. O'Leary				Management	For	For
1L.	Election of Director: Kendall J. Powell				Management	For	For
2.	To ratify, in a non-binding vote, the appointment of PricewaterhouseCoopers LLP as Medtronic's independent auditor for fiscal year 2020 and to authorize, in a binding vote, the Board of Directors, acting through the Audit Committee, to set the auditor's remuneration.				Management	For	For
3.	To approve, in a non-binding advisory vote, named executive officer compensation (a "Say-on-Pay" vote).				Management	For	For
4.	To renew the Board's authority to issue shares.				Management	For	For
5.	To renew the Board's authority to opt out of pre-emption rights.				Management	For	For
6.	Authorizing the Company and any subsidiary of the Company to make overseas market purchases of Medtronic ordinary shares.				Management	For	For
BECTON, DICKINSON AND COMPANY
Security				075887109		Meeting Type		Annual
Ticker Symbol				BDX		Meeting Date		28-Jan-2020
ISIN				US0758871091		Agenda		935116322 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Catherine M. Burzik				Management	For	For
1B.	Election of Director: R. Andrew Eckert				Management	For	For
1C.	Election of Director: Vincent A. Forlenza				Management	For	For
1D.	Election of Director: Claire M. Fraser				Management	For	For
1E.	Election of Director: Jeffrey W. Henderson				Management	For	For
1F.	Election of Director: Christopher Jones				Management	For	For
1G.	Election of Director: Marshall O. Larsen				Management	For	For
1H.	Election of Director: David F. Melcher				Management	For	For
1I.	Election of Director: Thomas E. Polen				Management	For	For
1J.	Election of Director: Claire Pomeroy				Management	For	For
1K.	Election of Director: Rebecca W. Rimel				Management	For	For
1L.	Election of Director: Timothy M. Ring				Management	For	For
1M.	Election of Director: Bertram L. Scott				Management	For	For
2.	Ratification of selection of independent registered public accounting firm.				Management	For	For
3.	Advisory vote to approve named executive officer compensation.				Management	For	For
4.	Approval of amendment to BD's 2004 Employee and Director Equity-Based Compensation Plan.				Management	For	For
5.	Approval of French Addendum to BD'S 2004 Employee and Director Equity-Based Compensation Plan.				Management	For	For
6.	Shareholder proposal regarding special shareholder meetings.				Shareholder	Against	For
DEERE & COMPANY
Security				244199105		Meeting Type		Annual
Ticker Symbol				DE		Meeting Date		26-Feb-2020
ISIN				US2441991054		Agenda		935120876 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Samuel R. Allen				Management	For	For
1B.	Election of Director: Alan C. Heuberger				Management	For	For
1C.	Election of Director: Charles O. Holliday, Jr.				Management	For	For
1D.	Election of Director: Dipak C. Jain				Management	For	For
1E.	Election of Director: Michael O. Johanns				Management	For	For
1F.	Election of Director: Clayton M. Jones				Management	For	For
1G.	Election of Director: John C. May				Management	For	For
1H.	Election of Director: Gregory R. Page				Management	For	For
1I.	Election of Director: Sherry M. Smith				Management	For	For
1J.	Election of Director: Dmitri L. Stockton				Management	For	For
1K.	Election of Director: Sheila G. Talton				Management	For	For
2.	Amendment to Deere's ByLaws to provide that courts located in Delaware will be the exclusive forum for certain legal disputes				Management	For	For
3.	Advisory vote on executive compensation				Management	For	For
4.	Approval of the John Deere 2020 Equity and Incentive Plan				Management	For	For
5.	Ratification of the appointment of Deloitte & Touche LLP as Deere's independent registered public accounting firm for fiscal 2020				Management	For	For
6.	Shareholder Proposal - Adopt a Board Ideology Disclosure Policy				Shareholder	Against	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
SCHLUMBERGER LIMITED (SCHLUMBERGER N.V.)
Security				806857108		Meeting Type		Annual
Ticker Symbol				SLB		Meeting Date		01-Apr-2020
ISIN				AN8068571086		Agenda		935131021 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Patrick de La Chevardière				Management	For	For
1B.	Election of Director: Miguel M. Galuccio				Management	For	For
1C.	Election of Director: Olivier Le Peuch				Management	For	For
1D.	Election of Director: Tatiana A. Mitrova				Management	For	For
1E.	Election of Director: Lubna S. Olayan				Management	For	For
1F.	Election of Director: Mark G. Papa				Management	For	For
1G.	Election of Director: Leo Rafael Reif				Management	For	For
1H.	Election of Director: Henri Seydoux				Management	For	For
1I.	Election of Director: Jeff W. Sheets				Management	For	For
2.	Approval of the advisory resolution to approve our executive compensation.				Management	For	For
3.	Approval of our 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.				Management	For	For
4.	Ratification of the appointment of PricewaterhouseCoopers LLP as our independent auditors for 2020.				Management	For	For
DOW INC.
Security				260557103		Meeting Type		Annual
Ticker Symbol				DOW		Meeting Date		09-Apr-2020
ISIN				US2605571031		Agenda		935132441 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Samuel R. Allen				Management	For	For
1B.	Election of Director: Ajay Banga				Management	For	For
1C.	Election of Director: Jacqueline K. Barton				Management	For	For
1D.	Election of Director: James A. Bell				Management	For	For
1E.	Election of Director: Wesley G. Bush				Management	For	For
1F.	Election of Director: Richard K. Davis				Management	For	For
1G.	Election of Director: Jeff M. Fettig				Management	For	For
1H.	Election of Director: Jim Fitterling				Management	For	For
1I.	Election of Director: Jacqueline C. Hinman				Management	For	For
1J.	Election of Director: Jill S. Wyant				Management	For	For
1K.	Election of Director: Daniel W. Yohannes				Management	For	For
2.	Advisory Resolution to Approve Executive Compensation				Management	For	For
3.	Advisory Resolution on the Frequency of Future Advisory Votes to Approve Executive Compensation				Management	1 Year	For
4.	Ratification of the Appointment of the Independent Registered Public Accounting Firm				Management	For	For
NORTHERN TRUST CORPORATION
Security				665859104		Meeting Type		Annual
Ticker Symbol				NTRS		Meeting Date		21-Apr-2020
ISIN				US6658591044		Agenda		935134356 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Linda Walker Bynoe				Management	For	For
1B.	Election of Director: Susan Crown				Management	For	For
1C.	Election of Director: Dean M. Harrison				Management	For	For
1D.	Election of Director: Jay L. Henderson				Management	For	For
1E.	Election of Director: Marcy S. Klevorn				Management	For	For
1F.	Election of Director: Siddharth N. (Bobby) Mehta				Management	For	For
1G.	Election of Director: Michael G. O'Grady				Management	For	For
1H.	Election of Director: Jose Luis Prado				Management	For	For
1I.	Election of Director: Thomas E. Richards				Management	For	For
1J.	Election of Director: Martin P. Slark				Management	Against	Against
1K.	Election of Director: David H. B. Smith, Jr.				Management	For	For
1L.	Election of Director: Donald Thompson				Management	For	For
1M.	Election of Director: Charles A. Tribbett III				Management	For	For
2.	Approval, by an advisory vote, of the 2019 compensation of the Corporation's named executive officers.				Management	For	For
3.	Ratification of the appointment of KPMG LLP as the Corporation's independent registered public accounting firm for the fiscal year ending December 31, 2020.				Management	For	For
M&T BANK CORPORATION
Security				55261F104		Meeting Type		Annual
Ticker Symbol				MTB		Meeting Date		21-Apr-2020
ISIN				US55261F1049		Agenda		935139611 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1.	DIRECTOR				Management
		1	C. Angela Bontempo			For	For
		2	Robert T. Brady			For	For
		3	T. J. Cunningham III			For	For
		4	Gary N. Geisel			For	For
		5	Richard S. Gold			For	For
		6	Richard A. Grossi			For	For
		7	John D. Hawke, Jr.			For	For
		8	René F. Jones			For	For
		9	Richard H. Ledgett, Jr.			For	For
		10	Newton P.S. Merrill			For	For
		11	Kevin J. Pearson			For	For
		12	Melinda R. Rich			For	For
		13	Robert E. Sadler, Jr.			For	For
		14	Denis J. Salamone			For	For
		15	John R. Scannell			For	For
		16	David S. Scharfstein			For	For
		17	Herbert L. Washington			For	For
2.	TO APPROVE THE COMPENSATION OF M&T BANK CORPORATION'S NAMED EXECUTIVE OFFICERS.				Management	For	For
3.	TO RATIFY THE APPOINTMENT OF PRICEWATERHOUSECOOPERS LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF M&T BANK CORPORATION FOR THE YEAR ENDING DECEMBER 31, 2020.				Management	For	For
JOHNSON & JOHNSON
Security				478160104		Meeting Type		Annual
Ticker Symbol				JNJ		Meeting Date		23-Apr-2020
ISIN				US4781601046		Agenda		935137934 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Mary C. Beckerle				Management	For	For
1B.	Election Of Director: D. Scott Davis				Management	For	For
1C.	Election of Director: Ian E. L. Davis				Management	For	For
1D.	Election of Director: Jennifer A. Doudna				Management	For	For
1E.	Election of Director: Alex Gorsky				Management	For	For
1F.	Election of Director: Marillyn A. Hewson				Management	For	For
1G.	Election of Director: Hubert Joly				Management	For	For
1H.	Election of Director: Mark B. McClellan				Management	For	For
1I.	Election of Director: Anne M. Mulcahy				Management	For	For
1J.	Election of Director: Charles Prince				Management	For	For
1K.	Election of Director: A. Eugene Washington				Management	For	For
1L.	Election of Director: Mark A. Weinberger				Management	For	For
1M.	Election of Director: Ronald A. Williams				Management	For	For
2.	Advisory Vote to Approve Named Executive Officer Compensation.				Management	For	For
3.	Ratification of Appointment of PricewaterhouseCoopers LLP as the Independent Registered Public Accounting Firm for 2020.				Management	For	For
4.	Amendment to the Restated Certificate of Incorporation to Permit Removal of Directors Without Cause.				Management	For	For
5.	Independent Board Chair				Shareholder	Against	For
6.	Report on Governance of Opioids-Related Risks				Shareholder	Against	For
TEXAS INSTRUMENTS INCORPORATED
Security				882508104		Meeting Type		Annual
Ticker Symbol				TXN		Meeting Date		23-Apr-2020
ISIN				US8825081040		Agenda		935138722 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Mark A. Blinn				Management	For	For
1B.	Election of Director: Todd M. Bluedorn				Management	For	For
1C.	Election of Director: Janet F. Clark				Management	For	For
1D.	Election of Director: Carrie S. Cox				Management	For	For
1E.	Election of Director: Martin S. Craighead				Management	For	For
1F.	Election of Director: Jean M. Hobby				Management	For	For
1G.	Election of Director: Michael D. Hsu				Management	For	For
1H.	Election of Director: Ronald Kirk				Management	For	For
1I.	Election of Director: Pamela H. Patsley				Management	For	For
1J.	Election of Director: Robert E. Sanchez				Management	For	For
1K.	Election of Director: Richard K. Templeton				Management	For	For
2.	Board proposal regarding advisory approval of the Company's executive compensation.				Management	For	For
3.	Board proposal to ratify the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for 2020.				Management	For	For
AT&T INC.
Security				00206R102		Meeting Type		Annual
Ticker Symbol				T		Meeting Date		24-Apr-2020
ISIN				US00206R1023		Agenda		935138140 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Randall L. Stephenson				Management	For	For
1B.	Election of Director: Samuel A. Di Piazza, Jr.				Management	For	For
1C.	Election of Director: Richard W. Fisher				Management	For	For
1D.	Election of Director: Scott T. Ford				Management	For	For
1E.	Election of Director: Glenn H. Hutchins				Management	For	For
1F.	Election of Director: William E. Kennard				Management	For	For
1G.	Election of Director: Debra L. Lee				Management	For	For
1H.	Election of Director: Stephen J. Luczo				Management	For	For
1I.	Election of Director: Michael B. McCallister				Management	For	For
1J.	Election of Director: Beth E. Mooney				Management	For	For
1K.	Election of Director: Matthew K. Rose				Management	For	For
1L.	Election of Director: Cynthia B. Taylor				Management	For	For
1M.	Election of Director: Geoffrey Y. Yang				Management	For	For
2.	Ratification of appointment of independent auditors.				Management	For	For
3.	Advisory approval of executive compensation.				Management	For	For
4.	Independent Board Chairman.				Shareholder	Against	For
5.	Employee Representative Director.				Shareholder	For	Against
6.	Improve Guiding Principles of Executive Compensation.				Shareholder	Against	For
UNITED TECHNOLOGIES CORPORATION
Security				913017109		Meeting Type		Annual
Ticker Symbol				UTX		Meeting Date		27-Apr-2020
ISIN				US9130171096		Agenda		935142707 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Lloyd J. Austin III				Management	For	For
1B.	Election of Director: Gregory J. Hayes				Management	For	For
1C.	Election of Director: Marshall O. Larsen				Management	For	For
1D.	Election of Director: Robert K. (Kelly) Ortberg				Management	For	For
1E.	Election of Director: Margaret L. O'Sullivan				Management	For	For
1F.	Election of Director: Denise L. Ramos				Management	For	For
1G.	Election of Director: Fredric G. Reynolds				Management	For	For
1H.	Election of Director: Brian C. Rogers				Management	For	For
2.	Advisory Vote to Approve Executive Compensation.				Management	For	For
3.	Appoint PricewaterhouseCoopers LLP to Serve as Independent Auditor for 2020.				Management	For	For
4.	Shareowner Proposal regarding a Simple Majority Vote Requirement.				Shareholder	For
5.	Shareowner Proposal to Create a Committee to Prepare a Report regarding the Impact of Plant Closure on Communities and Alternatives to Help Mitigate the Effects.				Shareholder	Against	For
THE PNC FINANCIAL SERVICES GROUP, INC.
Security				693475105		Meeting Type		Annual
Ticker Symbol				PNC		Meeting Date		28-Apr-2020
ISIN				US6934751057		Agenda		935134332 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Joseph Alvarado				Management	For	For
1B.	Election of Director: Charles E. Bunch				Management	For	For
1C.	Election of Director: Debra A. Cafaro				Management	For	For
1D.	Election of Director: Marjorie Rodgers Cheshire				Management	For	For
1E.	Election of Director: William S. Demchak				Management	For	For
1F.	Election of Director: Andrew T. Feldstein				Management	For	For
1G.	Election of Director: Richard J. Harshman				Management	For	For
1H.	Election of Director: Daniel R. Hesse				Management	For	For
1I.	Election of Director: Linda R. Medler				Management	For	For
1J.	Election of Director: Martin Pfinsgraff				Management	For	For
1K.	Election of Director: Toni Townes-Whitley				Management	For	For
1L.	Election of Director: Michael J. Ward				Management	For	For
2.	Ratification of the Audit Committee's selection of PricewaterhouseCoopers LLP as PNC's independent registered public accounting firm for 2020.				Management	For	For
3.	Advisory vote to approve named executive officer compensation.				Management	For	For
4.	Approval of The PNC Financial Services Group, Inc. Employee Stock Purchase Plan, as amended and restated January 1, 2020.				Management	For	For
BRISTOL-MYERS SQUIBB COMPANY
Security				110122108		Meeting Type		Annual
Ticker Symbol				BMY		Meeting Date		05-May-2020
ISIN				US1101221083		Agenda		935151681 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Peter J. Arduini				Management	For	For
1B.	Election of Director: Robert Bertolini				Management	For	For
1C.	Election of Director: Michael W. Bonney				Management	For	For
1D.	Election of Director: Giovanni Caforio, M.D.				Management	For	For
1E.	Election of Director: Matthew W. Emmens				Management	For	For
1F.	Election of Director: Julia A. Haller, M.D.				Management	For	For
1G.	Election of Director: Dinesh C. Paliwal				Management	For	For
1H.	Election of Director: Theodore R. Samuels				Management	For	For
1I.	Election of Director: Vicki L. Sato, Ph.D.				Management	For	For
1J.	Election of Director: Gerald L. Storch				Management	For	For
1K.	Election of Director: Karen H. Vousden, Ph.D.				Management	For	For
1L.	Election of Director: Phyllis R. Yale				Management	For	For
2.	Advisory vote to approve the compensation of our Named Executive Officers.				Management	For	For
3.	Ratification of the appointment of an independent registered public accounting firm.				Management	For	For
4.	Shareholder Proposal on Separate Chair & CEO.				Shareholder	Against	For
5.	Shareholder Proposal on Shareholder Right to Act by Written Consent.				Shareholder	Against	For
PEPSICO, INC.
Security				713448108		Meeting Type		Annual
Ticker Symbol				PEP		Meeting Date		06-May-2020
ISIN				US7134481081		Agenda		935148901 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Shona L. Brown				Management	For	For
1B.	Election of Director: Cesar Conde				Management	For	For
1C.	Election of Director: Ian Cook				Management	For	For
1D.	Election of Director: Dina Dublon				Management	For	For
1E.	Election of Director: Richard W. Fisher				Management	For	For
1F.	Election of Director: Michelle Gass				Management	For	For
1G.	Election of Director: Ramon L. Laguarta				Management	For	For
1H.	Election of Director: David C. Page				Management	For	For
1I.	Election of Director: Robert C. Pohlad				Management	For	For
1J.	Election of Director: Daniel Vasella				Management	For	For
1K.	Election of Director: Darren Walker				Management	For	For
1L.	Election of Director: Alberto Weisser				Management	For	For
2.	Ratification of the appointment of KPMG LLP as the Company's independent registered public accounting firm for fiscal year 2020.				Management	For	For
3.	Advisory approval of the Company's executive compensation.				Management	For	For
4.	Shareholder Proposal - Reduce Ownership Threshold to Call Special Shareholder Meetings.				Shareholder	Against	For
5.	SHAREHOLDER PROPOSAL - REPORT ON SUGAR AND PUBLIC HEALTH.				Shareholder	Against	For
DOMINION ENERGY, INC.
Security				25746U109		Meeting Type		Annual
Ticker Symbol				D		Meeting Date		06-May-2020
ISIN				US25746U1097		Agenda		935152316 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: James A. Bennett				Management	For	For
1B.	Election of Director: Helen E. Dragas				Management	For	For
1C.	Election of Director: James O. Ellis, Jr.				Management	For	For
1D.	Election of Director: Thomas F. Farrell, II				Management	For	For
1E.	Election of Director: D. Maybank Hagood				Management	For	For
1F.	Election of Director: John W. Harris				Management	For	For
1G.	Election of Director: Ronald W. Jibson				Management	For	For
1H.	Election of Director: Mark J. Kington				Management	For	For
1I.	Election of Director: Joseph M. Rigby				Management	For	For
1J.	Election of Director: Pamela J. Royal, M.D.				Management	For	For
1K.	Election of Director: Robert H. Spilman, Jr.				Management	For	For
1L.	Election of Director: Susan N. Story				Management	For	For
1M.	Election of Director: Michael E. Szymanczyk				Management	For	For
2.	Ratification of Appointment of Independent Auditor.				Management	For	For
3.	Advisory Vote on Approval of Executive Compensation (Say on Pay).				Management	For	For
4.	Shareholder Proposal Regarding a Policy to Require an Independent Chair				Shareholder	Against	For
5.	Shareholder Proposal Regarding the Right of Shareholders to Act by Written Consent				Shareholder	Against	For
VERIZON COMMUNICATIONS INC.
Security				92343V104		Meeting Type		Annual
Ticker Symbol				VZ		Meeting Date		07-May-2020
ISIN				US92343V1044		Agenda		935148406 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1a.	Election of Director: Shellye L. Archambeau				Management	For	For
1b.	Election of Director: Mark T. Bertolini				Management	For	For
1c.	Election of Director: Vittorio Colao				Management	For	For
1d.	Election of Director: Melanie L. Healey				Management	For	For
1e.	Election of Director: Clarence Otis, Jr.				Management	For	For
1f.	Election of Director: Daniel H. Schulman				Management	For	For
1g.	Election of Director: Rodney E. Slater				Management	For	For
1h.	Election of Director: Hans E. Vestberg				Management	For	For
1i.	Election of Director: Gregory G. Weaver				Management	For	For
2.	Advisory Vote to Approve Executive Compensation				Management	For	For
3.	Ratification of Appointment of Independent Registered Public Accounting Firm				Management	For	For
4.	Nonqualified Savings Plan Earnings				Shareholder	Against	For
5.	Special Shareholder Meetings				Shareholder	Against	For
6.	Lobbying Activities Report				Shareholder	Against	For
7.	User Privacy Metric				Shareholder	Against	For
8.	Amend Severance Approval Policy				Shareholder	Against	For
REPUBLIC SERVICES, INC.
Security				760759100		Meeting Type		Annual
Ticker Symbol				RSG		Meeting Date		08-May-2020
ISIN				US7607591002		Agenda		935153457 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Manuel Kadre				Management	For	For
1B.	Election of Director: Tomago Collins				Management	For	For
1C.	Election of Director: Thomas W. Handley				Management	For	For
1D.	Election of Director: Jennifer M. Kirk				Management	For	For
1E.	Election of Director: Michael Larson				Management	For	For
1F.	Election of Director: Kim S. Pegula				Management	For	For
1G.	Election of Director: Donald W. Slager				Management	For	For
1H.	Election of Director: James P. Snee				Management	For	For
1I.	Election of Director: Sandra M. Volpe				Management	For	For
1J.	Election of Director: Katharine B. Weymouth				Management	For	For
2.	Advisory vote to approve our named executive officer compensation.				Management	For	For
3.	Ratification of the appointment of Ernst & Young LLP as our independent registered public accounting firm for 2020.				Management	For	For
4.	Proposal to approve the Republic Services, Inc. 2021 Stock Incentive Plan.				Management	For	For
PRUDENTIAL FINANCIAL, INC.
Security				744320102		Meeting Type		Annual
Ticker Symbol				PRU		Meeting Date		12-May-2020
ISIN				US7443201022		Agenda		935160565 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Thomas J. Baltimore, Jr.				Management	For	For
1B.	Election of Director: Gilbert F. Casellas				Management	For	For
1C.	Election of Director: Robert M. Falzon				Management	For	For
1D.	Election of Director: Martina Hund-Mejean				Management	For	For
1E.	Election of Director: Karl J. Krapek				Management	For	For
1F.	Election of Director: Peter R. Lighte				Management	For	For
1G.	Election of Director: Charles F. Lowrey				Management	For	For
1H.	Election of Director: George Paz				Management	For	For
1I.	Election of Director: Sandra Pianalto				Management	For	For
1J.	Election of Director: Christine A. Poon				Management	For	For
1K.	Election of Director: Douglas A. Scovanner				Management	For	For
1L.	Election of Director: Michael A. Todman				Management	For	For
2.	Ratification of the appointment of PricewaterhouseCoopers LLP as our independent registered public accounting firm for 2020.				Management	For	For
3.	Advisory vote to approve named executive officer compensation.				Management	For	For
4.	Shareholder proposal regarding an Independent Board Chairman.				Shareholder	Against	For
UNION PACIFIC CORPORATION
Security				907818108		Meeting Type		Annual
Ticker Symbol				UNP		Meeting Date		14-May-2020
ISIN				US9078181081		Agenda		935158407 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Andrew H. Card Jr.				Management	For	For
1B.	Election of Director: William J. DeLaney				Management	For	For
1C.	Election of Director: David B. Dillon				Management	For	For
1D.	Election of Director: Lance M. Fritz				Management	For	For
1E.	Election of Director: Deborah C. Hopkins				Management	For	For
1F.	Election of Director: Jane H. Lute				Management	For	For
1G.	Election of Director: Michael R. McCarthy				Management	For	For
1H.	Election of Director: Thomas F. McLarty III				Management	For	For
1I.	Election of Director: Bhavesh V. Patel				Management	For	For
1J.	Election of Director: Jose H. Villarreal				Management	For	For
1K.	Election of Director: Christopher J. Williams				Management	For	For
2.	Ratification of the appointment of Deloitte & Touche LLP as the independent registered public accounting firm of the Company for 2020.				Management	For	For
3.	An advisory vote to approve executive compensation ("Say on Pay").				Management	For	For
4.	Shareholder proposal regarding Independent Chairman if properly presented at the Annual Meeting.				Shareholder	Against	For
5.	Shareholder proposal regarding Climate Assessment Report if properly presented at the Annual Meeting.				Shareholder	Against	For
INTEL CORPORATION
Security				458140100		Meeting Type		Annual
Ticker Symbol				INTC		Meeting Date		14-May-2020
ISIN				US4581401001		Agenda		935158635 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: James J. Goetz				Management	For	For
1B.	Election of Director: Alyssa Henry				Management	For	For
1C.	Election of Director: Omar Ishrak				Management	For	For
1D.	Election of Director: Risa Lavizzo-Mourey				Management	For	For
1E.	Election of Director: Tsu-Jae King Liu				Management	For	For
1F.	Election of Director: Gregory D. Smith				Management	For	For
1G.	Election of Director: Robert ("Bob") H. Swan				Management	For	For
1H.	Election of Director: Andrew Wilson				Management	For	For
1I.	Election of Director: Frank D. Yeary				Management	For	For
2.	Ratification of selection of Ernst & Young LLP as our independent registered public accounting firm for 2020				Management	For	For
3.	Advisory vote to approve executive compensation of our listed officers				Management	For	For
4.	Approval of amendment and restatement of the 2006 Employee Stock Purchase Plan				Management	For	For
5.	Stockholder proposal on whether to allow stockholders to act by written consent, if properly presented at the meeting				Shareholder	Against	For
6.	Stockholder proposal requesting a report on the global median gender/racial pay gap, if properly presented at the meeting				Shareholder	Against	For
BLACKROCK, INC.
Security				09247X101		Meeting Type		Annual
Ticker Symbol				BLK		Meeting Date		21-May-2020
ISIN				US09247X1019		Agenda		935170857 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Bader M. Alsaad				Management	For	For
1B.	Election of Director: Mathis Cabiallavetta				Management	For	For
1C.	Election of Director: Pamela Daley				Management	For	For
1D.	Withdrawn				Management	For	For
1E.	Election of Director: Jessica P. Einhorn				Management	For	For
1F.	Election of Director: Laurence D. Fink				Management	For	For
1G.	Election of Director: William E. Ford				Management	For	For
1H.	Election of Director: Fabrizio Freda				Management	For	For
1I.	Election of Director: Murry S. Gerber				Management	For	For
1J.	Election of Director: Margaret L. Johnson				Management	For	For
1K.	Election of Director: Robert S. Kapito				Management	For	For
1L.	Election of Director: Cheryl D. Mills				Management	For	For
1M.	Election of Director: Gordon M. Nixon				Management	For	For
1N.	Election of Director: Charles H. Robbins				Management	For	For
1O.	Election of Director: Marco Antonio Slim Domit				Management	For	For
1P.	Election of Director: Susan L. Wagner				Management	For	For
1Q.	Election of Director: Mark Wilson				Management	For	For
2.	Approval, in a non-binding advisory vote, of the compensation for named executive officers.				Management	For	For
3.	Ratification of the appointment of Deloitte LLP as BlackRock's independent registered public accounting firm for the fiscal year 2020.				Management	For	For
4.	Shareholder Proposal - Production of a Report on the "Statement on the Purpose of a Corporation."				Shareholder	Against	For
MCDONALD'S CORPORATION
Security				580135101		Meeting Type		Annual
Ticker Symbol				MCD		Meeting Date		21-May-2020
ISIN				US5801351017		Agenda		935171190 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director for a one-year term expiring in 2021: Lloyd Dean				Management	For	For
1B.	Election of Director for a one-year term expiring in 2021: Robert Eckert				Management	For	For
1C.	Election of Director for a one-year term expiring in 2021: Catherine Engelbert				Management	For	For
1D.	Election of Director for a one-year term expiring in 2021: Margaret Georgiadis				Management	For	For
1E.	Election of Director for a one-year term expiring in 2021: Enrique Hernandez, Jr.				Management	For	For
1F.	Election of Director for a one-year term expiring in 2021: Christopher Kempczinski				Management	For	For
1G.	Election of Director for a one-year term expiring in 2021: Richard Lenny				Management	For	For
1H.	Election of Director for a one-year term expiring in 2021: John Mulligan				Management	For	For
1I.	Election of Director for a one-year term expiring in 2021: Sheila Penrose				Management	For	For
1J.	Election of Director for a one-year term expiring in 2021: John Rogers, Jr.				Management	For	For
1K.	Election of Director for a one-year term expiring in 2021: Paul Walsh				Management	For	For
1L.	Election of Director for a one-year term expiring in 2021: Miles White				Management	For	For
2.	Advisory vote to approve executive compensation.				Management	For	For
3.	Advisory vote to approve the appointment of Ernst & Young LLP as independent auditor for 2020.				Management	For	For
4.	Vote to approve the Company's Amended and Restated 2012 Omnibus Stock Ownership Plan.				Management	For	For
5.	Advisory vote on a shareholder proposal requesting to change the thresholds to call special shareholder meetings, if properly presented.				Shareholder	Against	For
6.	Advisory vote on a shareholder proposal requesting the Board issue a report on sugar and public health, if properly presented.				Shareholder	Against	For
MARSH & MCLENNAN COMPANIES, INC.
Security				571748102		Meeting Type		Annual
Ticker Symbol				MMC		Meeting Date		21-May-2020
ISIN				US5717481023		Agenda		935171277 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Anthony K. Anderson				Management	For	For
1B.	Election of Director: Oscar Fanjul				Management	For	For
1C.	Election of Director: Daniel S. Glaser				Management	For	For
1D.	Election of Director: H. Edward Hanway				Management	For	For
1E.	Election of Director: Deborah C. Hopkins				Management	For	For
1F.	Election of Director: Tamara Ingram				Management	For	For
1G.	Election of Director: Jane H. Lute				Management	For	For
1H.	Election of Director: Steven A. Mills				Management	For	For
1I.	Election of Director: Bruce P. Nolop				Management	For	For
1J.	Election of Director: Marc D. Oken				Management	For	For
1K.	Election of Director: Morton O. Schapiro				Management	For	For
1L.	Election of Director: Lloyd M. Yates				Management	For	For
1M.	Election of Director: R. David Yost				Management	For	For
2.	Advisory (Nonbinding) Vote to Approve Named Executive Officer Compensation				Management	For	For
3.	Ratification of Selection of Independent Registered Public Accounting Firm				Management	For	For
4.	Approval of the Marsh & McLennan Companies, Inc. 2020 Incentive and Stock Award Plan				Management	For	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
EXXON MOBIL CORPORATION
Security				30231G102		Meeting Type		Annual
Ticker Symbol				XOM		Meeting Date		27-May-2020
ISIN				US30231G1022		Agenda		935176443 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Susan K. Avery				Management	For	For
1B.	Election of Director: Angela F. Braly				Management	For	For
1C.	Election of Director: Ursula M. Burns				Management	For	For
1D.	Election of Director: Kenneth C. Frazier				Management	For	For
1E.	Election of Director: Joseph L. Hooley				Management	For	For
1F.	Election of Director: Steven A. Kandarian				Management	For	For
1G.	Election of Director: Douglas R. Oberhelman				Management	For	For
1H.	Election of Director: Samuel J. Palmisano				Management	For	For
1I.	Election of Director: William C. Weldon				Management	For	For
1J.	Election of Director: Darren W. Woods				Management	For	For
2.	Ratification of Independent Auditors (page 29)				Management	For	For
3.	Advisory Vote to Approve Executive Compensation (page 30)				Management	For	For
4.	Independent Chairman (page 59)				Shareholder	Against	For
5.	Special Shareholder Meetings (page 61)				Shareholder	Against	For
6.	Report on Environmental Expenditures (page 62)				Shareholder	Against	For
7.	Report on Risks of Petrochemical Investments (page 64)				Shareholder	Against	For
8.	Report on Political Contributions (page 66)				Shareholder	Against	For
9.	Report on Lobbying (page 67)				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
DUPONT DE NEMOURS INC
Security				26614N102		Meeting Type		Annual
Ticker Symbol				DD		Meeting Date		27-May-2020
ISIN				US26614N1028		Agenda		935183981 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Amy G. Brady				Management	For	For
1B.	Election of Director: Edward D. Breen				Management	For	For
1C.	Election of Director: Ruby R. Chandy				Management	For	For
1D.	Election of Director: Franklin K. Clyburn, Jr.				Management	For	For
1E.	Election of Director: Terrence R. Curtin				Management	For	For
1F.	Election of Director: Alexander M. Cutler				Management	For	For
1G.	Election of Director: Eleuthère I. du Pont				Management	For	For
1H.	Election of Director: Rajiv L. Gupta				Management	For	For
1I.	Election of Director: Luther C. Kissam				Management	For	For
1J.	Election of Director: Frederick M. Lowery				Management	For	For
1K.	Election of Director: Raymond J. Milchovich				Management	For	For
1L.	Election of Director: Steven M. Sterin				Management	For	For
2.	Advisory Resolution to Approve Executive Compensation				Management	For	For
3.	Approval of the DuPont 2020 Equity and Incentive Plan				Management	For	For
4.	Ratification of the appointment of PricewaterhouseCoopers LLP as the Company's independent registered public accounting firm for 2020				Management	For	For
5.	Modification of Threshold for Calling Special Stockholder Meetings				Shareholder	Against	For
6.	Employee Board Advisory Position				Shareholder	For	Against
WALMART INC.
Security				931142103		Meeting Type		Annual
Ticker Symbol				WMT		Meeting Date		03-Jun-2020
ISIN				US9311421039		Agenda		935192726 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Cesar Conde				Management	For	For
1B.	Election of Director: Timothy P. Flynn				Management	For	For
1C.	Election of Director: Sarah J. Friar				Management	For	For
1D.	Election of Director: Carla A. Harris				Management	For	For
1E.	Election of Director: Thomas W. Horton				Management	For	For
1F.	Election of Director: Marissa A. Mayer				Management	For	For
1G.	Election of Director: C. Douglas McMillon				Management	For	For
1H.	Election of Director: Gregory B. Penner				Management	For	For
1I.	Election of Director: Steven S Reinemund				Management	For	For
1J.	Election of Director: S. Robson Walton				Management	For	For
1K.	Election of Director: Steuart L. Walton				Management	For	For
2.	Advisory Vote to Approve Named Executive Officer Compensation				Management	For	For
3.	Ratification of Ernst & Young LLP as Independent Accountants				Management	For	For
4.	Approval of the Amendment to the ASDA Sharesave Plan 2000				Management	For	For
5.	Report on Impacts of Single-Use Plastic Bags				Shareholder	Against	For
6.	Report on Supplier Antibiotics Use Standards				Shareholder	For	Against
7.	Policy to Include Hourly Associates as Director Candidates				Shareholder	For	Against
8.	Report on Strengthening Prevention of Workplace Sexual Harassment				Shareholder	Against	For
CATERPILLAR INC.
Security				149123101		Meeting Type		Annual
Ticker Symbol				CAT		Meeting Date		10-Jun-2020
ISIN				US1491231015		Agenda		935192980 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of Director: Kelly A. Ayotte				Management	For	For
1B.	Election of Director: David L. Calhoun				Management	For	For
1C.	Election of Director: Daniel M. Dickinson				Management	For	For
1D.	Election of Director: Juan Gallardo				Management	For	For
1E.	Election of Director: William A. Osborn				Management	For	For
1F.	Election of Director: Debra L. Reed-Klages				Management	For	For
1G.	Election of Director: Edward B. Rust, Jr.				Management	For	For
1H.	Election of Director: Susan C. Schwab				Management	For	For
1I.	Election of Director: D. James Umpleby III				Management	For	For
1J.	Election of Director: Miles D. White				Management	For	For
1K.	Election of Director: Rayford Wilkins, Jr.				Management	For	For
2.	Ratification of our Independent Registered Public Accounting Firm				Management	For	For
3.	Advisory Vote to Approve Executive Compensation				Management	For	For
4.	Shareholder Proposal - Provide a Report of Lobbying Activities				Shareholder	Against	For
5.	Shareholder Proposal - Independent Board Chairman				Shareholder	Against	For
6.	Shareholder Proposal - Shareholder Action by Written Consent				Shareholder	Against	For
THE KROGER CO.
Security				501044101		Meeting Type		Annual
Ticker Symbol				KR		Meeting Date		25-Jun-2020
ISIN				US5010441013		Agenda		935215788 - Management
Item	Proposal				Proposed by	Vote	For/Against Management
1A.	Election of director: Nora A. Aufreiter				Management	For	For
1B.	Election of director: Anne Gates				Management	For	For
1C.	Election of director: Karen M. Hoguet				Management	For	For
1D.	Election of director: Susan J. Kropf				Management	For	For
1E.	Election of director: W. Rodney McMullen				Management	For	For
1F.	Election of director: Clyde R. Moore				Management	For	For
1G.	Election of director: Ronald L. Sargent				Management	For	For
1H.	Election of director: Bobby S. Shackouls				Management	For	For
1I.	Election of director: Mark S. Sutton				Management	For	For
1J.	Election of director: Ashok Vemuri				Management	For	For
2.	Approval, on an advisory basis, of Kroger's executive compensation.				Management	For	For
3.	Ratification of PricewaterhouseCoopers LLP, as auditors.				Management	For	For
4.	A shareholder proposal, if properly presented, to issue a report assessing the environmental impacts of using unrecyclable packaging for private label brands.				Shareholder	Against	For
5.	A shareholder proposal, if properly presented, to issue a report on human rights due diligence process in operations and supply chain.				Shareholder	Against	For

Cutler Fixed Income Fund

Proxy Voting Record

July 1, 2019 – June 30, 2020

The Cutler Fixed Income Fund held no securities entitled to vote at a meeting of shareholders during the reporting period (July 1, 2019 through June 30, 2020). In addition, the Cutler Fixed Income Fund liquidated all shares on May 28, 2020.

Cutler Emerging Markets Fund

Proxy Voting Record

July 1, 2019 – June 30, 2020

Provided herein is the Cutler Emerging Markets Fund’s proxy voting record during the reporting period (July 1, 2019 through June 30, 2020). In addition, the Cutler Emerging Markets Fund liquidated all shares on May 28, 2020.

Investment Company Report

SASOL LIMITED
Security		803866300		Meeting Type		Annual
Ticker Symbol		SSL		Meeting Date		27-Nov-2019
ISIN		US8038663006		Agenda		935103286 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1.1	To re-elect by way of a separate vote, the director retiring in terms of clause 22.2.1 of the Company's memorandum of incorporation: GMB Kennealy		Management	For	For
1.2	To re-elect by way of a separate vote, the director retiring in terms of clause 22.2.1 of the Company's memorandum of incorporation: PJ Robertson		Management	For	For
1.3	To re-elect by way of a separate vote, the director retiring in terms of clause 22.2.1 of the Company's memorandum of incorporation: P Victor		Management	For	For
2.	To elect SA Nkosi who was appointed by the Board after the previous Annual General Meeting in terms of clause 22.4.1 of the Company's memorandum of incorporation.		Management	For	For
3.	To elect FR Grobler who was appointed by the Board in terms of clause 22.4.1 of the Company's memorandum of incorporation.		Management	For	For
4.	To elect VD Kahla who was appointed by the Board in terms of clause 22.4.1 of the Company's memorandum of incorporation.		Management	For	For
5.	To appoint PricewaterhouseCoopers Inc. to act as independent auditor of the Company and the Group for the financial year ending 30 June 2020 until the end of the next Annual General Meeting.		Management	For	For
6.1	To elect by way of a separate vote, the member of the Audit Committee: C Beggs		Management	For	For
6.2	To elect by way of a separate vote, the member of the Audit Committee: GMB Kennealy (subject to her being re- elected as a director in terms of ordinary resolution number 1)		Management	For	For
6.3	To elect by way of a separate vote, the member of the Audit Committee: NNA Matyumza		Management	For	For
6.4	To elect by way of a separate vote, the member of the Audit Committee: S Westwell		Management	For	For
7.	To endorse, on a non-binding advisory basis, the Company's remuneration policy.		Management	For	For
8.	To endorse, on a non-binding advisory basis, the implementation report of the Company's remuneration policy.		Management	For	For
9.	Special resolution number 1: to amend the memorandum of incorporation of the Company to cater for changes in the transfer secretary and custodian and to delete redundant schedules.		Management	For	For
COMPANHIA BRASILEIRA DE DISTRIBUICAO
Security		20440T201		Meeting Type		Special
Ticker Symbol		CBD		Meeting Date		30-Dec-2019
ISIN		US20440T2015		Agenda		935113326 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1)	Pursuant to the first paragraph of Article 136 of Law 6,404, dated as of December 15, 1976, as amended, ratify the conversion of all preferred shares issued by the Company into common shares, in the proportion of one common share to each preferred share as required for the migration of the Company to the Novo Mercado, a special listing segment of B3 S.A - Brasil, Bolsa, Balcão ("B3").		Management	For	For
BANCO BRADESCO S A
Security		059460303		Meeting Type		Annual
Ticker Symbol		BBD		Meeting Date		10-Mar-2020
ISIN		US0594603039		Agenda		935132326 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
5A	Election of the fiscal council: Candidates appointed by preferred shareholders - Separate Election: Cristiana Pereira / Reginaldo Ferreira Alexandre.		Management	For	For
PETROCHINA COMPANY LIMITED
Security		71646E100		Meeting Type		Special
Ticker Symbol		PTR		Meeting Date		25-Mar-2020
ISIN		US71646E1001		Agenda		935133277 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1.	Election of Mr. Dai Houliang as Director of the Company.		Management	For	For
2.	Election of Mr. Lv Bo as Director of the Company.		Management	For	For
3.	Election of Mr. Li Fanrong as director of the Company.		Management	For	For
CHINA PETROLEUM & CHEMICAL CORPORATION
Security		16941R108		Meeting Type		Special
Ticker Symbol		SNP		Meeting Date		25-Mar-2020
ISIN		US16941R1086		Agenda		935135358 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1.	To elect Mr. Zhang Yuzhuo as a non-executive director of the seventh session of the board of directors of the Company.		Management	For
POSCO
Security		693483109		Meeting Type		Annual
Ticker Symbol		PKX		Meeting Date		27-Mar-2020
ISIN		US6934831099		Agenda		935137112 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1.	Approval of Financial Statements for the 52nd FY (2019)		Management	For	For
2.1	Election of Inside Director: Chang, In-Hwa		Management	For	For
2.2	Election of Inside Director: Chon, Jung-Son		Management	For	For
2.3	Election of Inside Director: Kim, Hag-Dong		Management	For	For
2.4	Election of Inside Director: Jeong, Tak		Management	For	For
3.1	Election of Outside Director: Chang, Seung-Wha		Management	For	For
4.	Election of Audit Committee Member Pahk, Heui-Jae		Management	For	For
5.	Approval of the Ceiling Amount of Total Remuneration for Directors		Management	For	For
KT CORPORATION
Security		48268K101		Meeting Type		Annual
Ticker Symbol		KT		Meeting Date		30-Mar-2020
ISIN		US48268K1016		Agenda		935147808 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1.	Amendment to the Articles of Incorporation		Management	For	For
2.	Election of Representative Director: Mr. Hyeon-Mo Ku		Management	For	For
3.	Approval of Financial Statements for the 38th Fiscal Year		Management	For	For
4.1	Election of Director: Mr. Yoon-Young Park (Inside Director Candidate)		Management	For	For
4.2	Election of Director: Mr. Jong-Ook Park (Inside Director Candidate)		Management	For	For
4.3	Election of Director: Mr. Chung-Gu Kang (Outside Director Candidate)		Management	For	For
4.4	Election of Director: Mr. Chan-Hi Park (Outside Director Candidate)		Management	For	For
4.5	Election of Director: Mrs. Eun-Jung Yeo (Outside Director Candidate)		Management	For	For
4.6	Election of Director: Mr. Hyun-Myung Pyo (Outside Director Candidate)		Management	For	For
5.1	Election of Member of the Audit Committee: Mr. Tae- Yoon Sung		Management	For	For
5.2	Election of Member of the Audit Committee: Mrs. Eun- Jung Yeo		Management	For	For
5.3	Election of Member of the Audit Committee: Mr. Chung- Gu Kang		Management	For	For
6.	Approval of Ceiling Amount on Remuneration for Directors		Management	For	For
7.	Approval of Employment Contract for the Representative Director		Management	For	For
8.	Amendment to Severance Pay Regulations for Executives		Management	For	For
AMBEV S.A.
Security		02319V103		Meeting Type		Annual
Ticker Symbol		ABEV		Meeting Date		24-Apr-2020
ISIN		US02319V1035		Agenda		935179867 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1	To analyze and approve the management accounts, with examination, discussion and voting on the financial statements related to the fiscal year ended December 31, 2019.		Management	For	For
2	To decide on the allocation of the net profits for the fiscal year ended December 31, 2019 and ratification of the payment of interest on own capital related to the fiscal year ended December 31, 2019, approved by the Board of Directors at the meeting held on December 2, 2019.		Management	For	For
3	To define the number of members of the Board of Directors. To approve the Board of Directors to be composed of 11 effective members and 2 alternates, for a 3-year term, which will end at the Ordinary Shareholder's Meeting to be held in 2023, pursuant to the Management Proposal.		Management	For	For
4A	Election of the Board of Directors by a single slate: Controller Slate - Board of Directors: Victorio Carlos De Marchi, Carlos Alves de Brito, Milton Seligman, José Heitor Attilio Gracioso, Vicente Falconi Campos, Luis Felipe Pedreira Dutra Leite, Roberto Moses Thompson Motta, Nelson José Jamel, Cecília Sicupira, Antonio Carlos Augusto Ribeiro Bonchristiano, Marcos de Barros Lisboa, Carlos Eduardo Klutzenschell Lisboa (Alternate), Michel Dimitrios Doukeris (Alternate)		Management	For	For
4B	If one of the candidates who make up the chosen slate fails to join it, can your votes continue to be cast on the chosen slate?		Management	For	For
4C	In case the multiple vote election process be adopted, should your votes be distributed in equal percentages among the members of the slate you chose?		Management	For	For
5A1	Election of the fiscal council. To elect the effective and alternate members of the Fiscal Council for a term in office of one (1) year, which shall end on the Ordinary General Meeting to be held in 2021: Controller Slate - Fiscal Council: José Ronaldo Vilela Rezende, Elidie Palma Bifano, Emanuel Sotelino Schifferle (Alternate), Eduardo Rogatto Luque (Alternate). PLEASE VOTE IN ONLY ONE OPTION: 5a OR 5b		Management	For
5A2	If one of the candidates that are part of the slate fails to integrate it to accommodate the separate election, your votes may still be given to the chosen slate? PLEASE VOTE IN ONLY ONE OPTION: 5a OR 5b		Management	For
5B	Separate Election of the fiscal council - Candidates nominated by minority shareholders: Vinicius Balbino Bouhid, Carlos Tersandro Fonseca Adeodato (Alternate). PLEASE VOTE IN ONLY ONE OPTION: 5a OR 5b		Management	For
6	To determine managers' overall compensation for the year of 2020, in the annual amount of up to R$ 111,079,130.00, including expenses related to the recognition of the fair amount of (x) the stock options that the Company intends to grant in the fiscal year, and (y) the compensation based on shares that the Company intends to execute in the fiscal year.		Management	For	For
7	To determine the overall compensation of the Fiscal Council's members for the year of 2020, in the annual amount of up to R$ 2,162,700.00, with alternate members' compensation corresponding to half of the amount received by the effective members, in accordance with the Management Proposal.		Management	For	For
E1	To approve the amendment to the heading of article 5 of the Company's bylaws, in order to reflect the capital increases approved by the Board of Directors, within the authorized capital limit until the date of the Shareholders' Meeting, according to the Management Proposal.		Management	For	For
E2	To approve the amendment to article 8 of the Company's bylaws, to make express reference to other possibilities of using the authorized capital limit by the Board of Directors as set forth in Law No 6,404/76, according to the Management Proposal.		Management	For	For
E3	To approve the amendment to articles 11, 15, 16, 17, 18 and 19, of the Company's bylaws, related to the composition of the Board of Directors, to (i) provide for the possibility of having a single Chairman of the Board of Directors, alternatively to the current Co-Chairmen model; (ii) increase the minimum number of members that can compose the Board of Directors from 3 to 5; and (iii) provide the Board of Directors will be composed, in its majority, by external members, according to the Management Proposal.		Management	For	For
E4	To approve the amendment to article 21 of the Company's bylaws, to adjust the competence of the Board of Directors, according to the Management Proposal.		Management	For	For
E5	To approve the amendment to articles 22 to 34 of the Company's bylaws, including the new articles 25 and 34 and renumbering the other articles, to restructure the composition of the Board of Executive Officers of the Company, set the duties of the new positions and change the name of the positions already existent, according to the Management Proposal.		Management	For	For
E6	In view of the proposed amendments to the bylaws described above, to approve the consolidation of the Company's bylaws, in order to reflect the adjustments arising from such changes, renumbering and wording corrections, according to the Management Proposal.		Management	For	For
E7	To approve the amendment to the current Share-Based Compensation Plan, to increase the global volume of shares representing the Company's share capital that may be delivered to the participants in such plan from 0.3% to 3%.		Management	For	For
AMERICA MOVIL, S.A.B. DE C.V.
Security		02364W105		Meeting Type		Annual
Ticker Symbol		AMX		Meeting Date		24-Apr-2020
ISIN		US02364W1053		Agenda		935186812 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
I	Appointment or, as the case may be, reelection of the members of the Board of Directors of the Company that the holders of the Series "L" shares are entitled to appoint. Adoption of resolutions thereon.		Management	For
II	Appointment of delegates to execute, and if, applicable, formalize the resolutions adopted by the meeting. Adoption of resolutions thereon.		Management	For
TAIWAN SEMICONDUCTOR MFG. CO. LTD.
Security		874039100		Meeting Type		Annual
Ticker Symbol		TSM		Meeting Date		09-Jun-2020
ISIN		US8740391003		Agenda		935218683 - Management
Item	Proposal		Proposed by	Vote	For/Against Management
1)	To accept 2019 Business Report and Financial Statements		Management	For	For
2)	To revise the Procedures for Lending Funds to Other Parties		Management	For	For
3)	DIRECTOR		Management
	1	Yancey Hai		For	For

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 Cutler Trust
By:	/s/ Erich M. Patten
	Erich M. Patten, President

Date: August 17, 2020