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Compiled from SEC Form N-PX filings and AGREE REALTY CORP.’s Form 8-K, filed 2025-05-16 (Item 5.07 on EDGAR). Page generated 02 October 2026.
Explore AGREE REALTY CORP. in the interactive database Compare manager voting policies
These tallies are AGREE REALTY CORP.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed 2025-05-16 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.
| Ballot item | For | Against | Abstain | Withheld | Broker non-votes | Outcome |
|---|---|---|---|---|---|---|
| Elect Director: Joel Agree | 91,355,555 | -- | -- | 1,599,692 | 5,851,786 | Majority: yes |
| Elect Director: Michael Judlowe | 91,145,804 | -- | -- | 1,809,443 | 5,851,786 | Majority: yes |
| Elect Director: Gregory Lehmkuhl | 86,318,788 | -- | -- | 6,636,459 | 5,851,786 | Majority: yes |
| Ratification of Appointment of Independent Registered Public Accounting Firm: | 97,771,378 | 979,502 | 56,153 | -- | -- | Majority: yes |
| Approval, by Non-Binding Vote, of Executive Compensation: | 87,457,530 | 5,376,989 | 120,728 | -- | 5,851,786 | Majority: yes |
| Approval of the Amendment to the Articles of Incorporation of the Company: | 96,579,761 | 2,146,872 | 80,400 | -- | -- | Majority: yes |
Source: AGREE REALTY CORP., Form 8-K, filed with the SEC on 2025-05-16 — read the filing on EDGAR.
Each item below shows how the 483 asset managers that disclosed a AGREE REALTY CORP. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report. These are reported items, not a count of the ballot: fund filings describe one ballot item in different words. Two descriptions are shown as one item only on evidence — the same text (or one cut short of the other), the same director nominee, or a match to the same row of AGREE REALTY CORP.’s own Form 8-K tally — never because they merely read alike. A description that could not be joined that way is listed on its own, so one ballot item can appear more than once.
Combines 8 wordings of this item as funds reported it.
94% Majority: yes · of votes cast
AGREE REALTY CORP.’s own tally for this item (“Approval, by Non-Binding Vote, of Executive Compensation:”): 87,457,530 for, 5,376,989 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 110,018,590 outstanding shares: 79% for, 5% against (84% of the company cast a for/against vote).
The 469 asset managers below cast 94% of the shares they voted on this item FOR. Fund share totals are not shown for this item: fund-reported shares overlap across filings (an adviser and the funds it manages can each report the same shares), and here their sum exceeds the total votes cast at the meeting.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 14,900,597 | 0 | 0 | 0 | For |
| BlackRock | 11,042,379 | 608 | 0 | 0 | For |
| Cohen & Steers | 5,591,344 | 0 | 0 | 0 | For |
| State Street | 4,640,352 | 0 | 0 | 0 | For |
| American Century | 0 | 3,731,653 | 0 | 0 | Against |
| Charles Schwab | 3,302,076 | 0 | 0 | 0 | For |
| PRINCIPAL GLOBAL INVESTORS | 2,352,166 | 0 | 0 | 0 | For |
| Fidelity | 2,347,091 | 0 | 0 | 0 | For |
| GEODE CAPITAL MANAGEMENT, LLC | 2,337,518 | 0 | 0 | 0 | For |
| Daiwa Securities Group Inc. | 2,152,734 | 0 | 0 | 0 | For |
| Long Pond Capital, LP | 2,002,173 | 0 | 0 | 0 | For |
| Thrivent | 1,851,772 | 0 | 0 | 0 | For |
| Nuveen | 1,589,631 | 0 | 0 | 0 | For |
| Russell Investments | 1,515,312 | 0 | 0 | 0 | For |
| Allspring | 1,359,709 | 0 | 0 | 0 | For |
| MACQUARIE INVESTMENT MANAGEMENT BUSINESS TRUST | 1,312,746 | 0 | 0 | 0 | For |
| Dimensional | 1,244,371 | 0 | 0 | 0 | For |
| Invesco | 1,210,503 | 0 | 0 | 0 | For |
| Delaware/Macquarie | 1,149,844 | 0 | 0 | 0 | For |
| Northern Trust | 1,136,744 | 0 | 0 | 0 | For |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | 1,055,176 | 0 | 0 | 0 | For |
| DWS | 968,983 | 0 | 0 | 0 | For |
| GW&K Investment Management, LLC | 8,106 | 0 | 0 | 0 | Split |
| Two Sigma | 867,942 | 0 | 0 | 0 | For |
| SCOUT INVESTMENTS, INC. | 847,567 | 0 | 0 | 0 | For |
Showing the 25 largest of 469 asset managers. See all 469 in the interactive database.
Combines 7 wordings of this item as funds reported it.
93% Majority: yes · of votes cast
AGREE REALTY CORP.’s own tally for this item (“Elect Director: Gregory Lehmkuhl”): 86,318,788 for, 6,636,459 withheld, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 110,018,590 outstanding shares: 78% for, 6% withheld (84% of the company cast a for/withheld vote).
The 123 asset managers below cast 100% of the shares they voted on this item FOR (46,850,084 for, 0 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 14,572,393 | 0 | 0 | 0 | For |
| BlackRock | 6,249,753 | 0 | 0 | 0 | For |
| Cohen & Steers | 4,585,155 | 0 | 0 | 0 | For |
| American Century | 2,160,501 | 0 | 0 | 0 | For |
| Fidelity | 2,083,795 | 0 | 0 | 0 | For |
| Charles Schwab | 1,642,678 | 0 | 0 | 0 | For |
| Delaware/Macquarie | 1,149,844 | 0 | 0 | 0 | For |
| Dimensional | 1,009,553 | 0 | 0 | 0 | For |
| DWS | 967,431 | 0 | 0 | 0 | For |
| Thrivent | 919,756 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 831,701 | 0 | 0 | 0 | For |
| TIAA | 800,212 | 0 | 0 | 0 | For |
| State Street | 5,493 | 0 | 646,476 | 0 | Abstain |
| Principal | 639,600 | 0 | 0 | 0 | For |
| JANUS INVESTMENT FUND | 626,637 | 0 | 0 | 0 | For |
| Allspring | 604,227 | 0 | 0 | 0 | For |
| Russell Investments | 478,847 | 0 | 0 | 0 | For |
| ETF Series Solutions | 450,721 | 0 | 0 | 0 | For |
| Invesco | 420,471 | 0 | 0 | 0 | For |
| John Hancock | 394,606 | 0 | 0 | 0 | For |
| Nuveen | 374,810 | 0 | 0 | 0 | For |
| Prudential/PGIM | 287,957 | 0 | 0 | 0 | For |
| Apollo Diversified Real Estate Fund | 285,820 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 279,650 | 0 | 0 | 0 | For |
| Lincoln Financial | 230,040 | 0 | 32,117 | 0 | For |
Showing the 25 largest of 123 asset managers. See all 123 in the interactive database.
Combines 7 wordings of this item as funds reported it.
98% Majority: yes · of votes cast
AGREE REALTY CORP.’s own tally for this item (“Elect Director: Joel Agree”): 91,355,555 for, 1,599,692 withheld, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 110,018,590 outstanding shares: 83% for, 1% withheld (84% of the company cast a for/withheld vote).
The 123 asset managers below cast 100% of the shares they voted on this item FOR (47,614,296 for, 0 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 14,572,393 | 0 | 0 | 0 | For |
| BlackRock | 6,249,753 | 0 | 0 | 0 | For |
| Cohen & Steers | 4,585,155 | 0 | 0 | 0 | For |
| American Century | 2,160,501 | 0 | 0 | 0 | For |
| Fidelity | 2,083,795 | 0 | 0 | 0 | For |
| Charles Schwab | 1,642,678 | 0 | 0 | 0 | For |
| Delaware/Macquarie | 1,149,844 | 0 | 0 | 0 | For |
| Dimensional | 1,009,553 | 0 | 0 | 0 | For |
| DWS | 967,431 | 0 | 0 | 0 | For |
| Thrivent | 919,756 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 831,701 | 0 | 0 | 0 | For |
| TIAA | 800,212 | 0 | 0 | 0 | For |
| State Street | 651,969 | 0 | 0 | 0 | For |
| Principal | 639,600 | 0 | 0 | 0 | For |
| JANUS INVESTMENT FUND | 626,637 | 0 | 0 | 0 | For |
| Allspring | 604,227 | 0 | 0 | 0 | For |
| Russell Investments | 478,847 | 0 | 0 | 0 | For |
| ETF Series Solutions | 450,721 | 0 | 0 | 0 | For |
| Invesco | 420,471 | 0 | 0 | 0 | For |
| John Hancock | 394,606 | 0 | 0 | 0 | For |
| Nuveen | 374,810 | 0 | 0 | 0 | For |
| Prudential/PGIM | 287,957 | 0 | 0 | 0 | For |
| Apollo Diversified Real Estate Fund | 285,820 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 279,650 | 0 | 0 | 0 | For |
| Lincoln Financial | 262,157 | 0 | 0 | 0 | For |
Showing the 25 largest of 123 asset managers. See all 123 in the interactive database.
Combines 7 wordings of this item as funds reported it.
98% Majority: yes · of votes cast
AGREE REALTY CORP.’s own tally for this item (“Elect Director: Michael Judlowe”): 91,145,804 for, 1,809,443 withheld, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 110,018,590 outstanding shares: 83% for, 2% withheld (84% of the company cast a for/withheld vote).
The 123 asset managers below cast 100% of the shares they voted on this item FOR (47,529,371 for, 0 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 14,572,393 | 0 | 0 | 0 | For |
| BlackRock | 6,249,753 | 0 | 0 | 0 | For |
| Cohen & Steers | 4,585,155 | 0 | 0 | 0 | For |
| American Century | 2,160,501 | 0 | 0 | 0 | For |
| Fidelity | 2,083,795 | 0 | 0 | 0 | For |
| Charles Schwab | 1,642,678 | 0 | 0 | 0 | For |
| Delaware/Macquarie | 1,149,844 | 0 | 0 | 0 | For |
| Dimensional | 1,009,553 | 0 | 0 | 0 | For |
| DWS | 967,431 | 0 | 0 | 0 | For |
| Thrivent | 919,756 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 831,701 | 0 | 0 | 0 | For |
| TIAA | 800,212 | 0 | 0 | 0 | For |
| State Street | 651,969 | 0 | 0 | 0 | For |
| Principal | 639,600 | 0 | 0 | 0 | For |
| JANUS INVESTMENT FUND | 626,637 | 0 | 0 | 0 | For |
| Allspring | 604,227 | 0 | 0 | 0 | For |
| Russell Investments | 478,847 | 0 | 0 | 0 | For |
| ETF Series Solutions | 450,721 | 0 | 0 | 0 | For |
| Invesco | 420,471 | 0 | 0 | 0 | For |
| John Hancock | 394,606 | 0 | 0 | 0 | For |
| Nuveen | 374,810 | 0 | 0 | 0 | For |
| Prudential/PGIM | 287,957 | 0 | 0 | 0 | For |
| Apollo Diversified Real Estate Fund | 285,820 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 279,650 | 0 | 0 | 0 | For |
| Lincoln Financial | 262,157 | 0 | 0 | 0 | For |
Showing the 25 largest of 123 asset managers. See all 123 in the interactive database.
Combines 3 wordings of this item as funds reported it.
99.0% Majority: yes · of votes cast
AGREE REALTY CORP.’s own tally for this item (“Ratification of Appointment of Independent Registered Public Accounting Firm:”): 97,771,378 for, 979,502 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 110,018,590 outstanding shares: 89% for, 0.9% against (90% of the company cast a for/against vote).
The 122 asset managers below cast 99.9% of the shares they voted on this item FOR (47,673,867 for, 464 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 14,572,393 | 0 | 0 | 0 | For |
| BlackRock | 6,249,753 | 0 | 0 | 0 | For |
| Cohen & Steers | 4,585,155 | 0 | 0 | 0 | For |
| American Century | 2,160,501 | 0 | 0 | 0 | For |
| Fidelity | 2,083,795 | 0 | 0 | 0 | For |
| Charles Schwab | 1,642,678 | 0 | 0 | 0 | For |
| Delaware/Macquarie | 1,149,844 | 0 | 0 | 0 | For |
| Dimensional | 1,009,553 | 0 | 0 | 0 | For |
| DWS | 967,431 | 0 | 0 | 0 | For |
| Thrivent | 919,756 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 831,701 | 0 | 0 | 0 | For |
| TIAA | 800,212 | 0 | 0 | 0 | For |
| State Street | 651,949 | 20 | 0 | 0 | For |
| Principal | 639,600 | 0 | 0 | 0 | For |
| JANUS INVESTMENT FUND | 626,637 | 0 | 0 | 0 | For |
| Allspring | 604,227 | 0 | 0 | 0 | For |
| Russell Investments | 478,847 | 0 | 0 | 0 | For |
| ETF Series Solutions | 450,721 | 0 | 0 | 0 | For |
| Invesco | 420,471 | 0 | 0 | 0 | For |
| John Hancock | 394,606 | 0 | 0 | 0 | For |
| Nuveen | 374,810 | 0 | 0 | 0 | For |
| Prudential/PGIM | 287,957 | 0 | 0 | 0 | For |
| Apollo Diversified Real Estate Fund | 285,820 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 279,650 | 0 | 0 | 0 | For |
| Lincoln Financial | 262,157 | 0 | 0 | 0 | For |
Showing the 25 largest of 122 asset managers. See all 122 in the interactive database.
Combines 2 wordings of this item as funds reported it.
98% Majority: yes · of votes cast
AGREE REALTY CORP.’s own tally for this item (“Approval of the Amendment to the Articles of Incorporation of the Company:”): 96,579,761 for, 2,146,872 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 110,018,590 outstanding shares: 88% for, 2% against (90% of the company cast a for/against vote).
The 121 asset managers below cast 99.9% of the shares they voted on this item FOR (47,642,816 for, 27,411 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 14,572,384 | 9 | 0 | 0 | For |
| BlackRock | 6,249,753 | 0 | 0 | 0 | For |
| Cohen & Steers | 4,585,155 | 0 | 0 | 0 | For |
| American Century | 2,160,501 | 0 | 0 | 0 | For |
| Fidelity | 2,083,795 | 0 | 0 | 0 | For |
| Charles Schwab | 1,642,678 | 0 | 0 | 0 | For |
| Delaware/Macquarie | 1,149,844 | 0 | 0 | 0 | For |
| Dimensional | 1,009,553 | 0 | 0 | 0 | For |
| DWS | 967,431 | 0 | 0 | 0 | For |
| Thrivent | 919,756 | 0 | 0 | 0 | For |
| CARILLON SERIES TRUST | 831,701 | 0 | 0 | 0 | For |
| TIAA | 800,212 | 0 | 0 | 0 | For |
| State Street | 651,890 | 79 | 0 | 0 | For |
| Principal | 639,600 | 0 | 0 | 0 | For |
| JANUS INVESTMENT FUND | 626,637 | 0 | 0 | 0 | For |
| Allspring | 604,227 | 0 | 0 | 0 | For |
| Russell Investments | 478,847 | 0 | 0 | 0 | For |
| ETF Series Solutions | 445,477 | 5,244 | 0 | 0 | For |
| Invesco | 420,471 | 0 | 0 | 0 | For |
| John Hancock | 394,606 | 0 | 0 | 0 | For |
| Nuveen | 374,810 | 0 | 0 | 0 | For |
| Prudential/PGIM | 287,341 | 616 | 0 | 0 | For |
| Apollo Diversified Real Estate Fund | 285,820 | 0 | 0 | 0 | For |
| AMERICAN BEACON FUNDS | 279,650 | 0 | 0 | 0 | For |
| Lincoln Financial | 262,157 | 0 | 0 | 0 | For |
Showing the 25 largest of 121 asset managers. See all 121 in the interactive database.
94% Majority: yes · of votes cast
AGREE REALTY CORP.’s own tally for this item (“Approval, by Non-Binding Vote, of Executive Compensation:”): 87,457,530 for, 5,376,989 against, per its Form 8-K filed 2025-05-16 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item. Of all 110,018,590 outstanding shares: 79% for, 5% against (84% of the company cast a for/against vote).
The 15 asset managers below cast 47.6% of the shares they voted on this item FOR (830,542 for, 915,088 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| JPMorgan | 0 | 534,487 | 0 | 0 | Against |
| APG Asset Management US Inc. | 0 | 360,343 | 0 | 0 | Against |
| Resolution Capital Ltd | 283,142 | 0 | 0 | 0 | For |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | 208,568 | 0 | 0 | 0 | For |
| Empower | 138,843 | 0 | 0 | 0 | For |
| Bluerock Total Income (plus) Real Estate Fund | 83,166 | 0 | 0 | 0 | For |
| Uniplan Investment Counsel, Inc. | 53,247 | 0 | 0 | 0 | For |
| Presima Securities ULC | 35,969 | 0 | 0 | 0 | For |
| Desjardins Global Asset Management Inc. | 0 | 20,258 | 0 | 0 | Against |
| AGF Investments Trust | 17,655 | 0 | 0 | 0 | For |
| VALUED ADVISERS TRUST | 7,883 | 0 | 0 | 0 | For |
| Virtus | 1,067 | 0 | 0 | 0 | For |
| Empirical Financial Services, LLC d.b.a. Empirical Wealth Ma | 736 | 0 | 0 | 0 | For |
| Colony Family Offices, LLC | 256 | 0 | 0 | 0 | For |
| Convergence Investment Partners, LLC | 10 | 0 | 0 | 0 | For |
100% fund support · no official result
The 4 asset managers below cast 100% of the shares they voted on this item FOR (247,547 for, 0 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Empower | 138,843 | 0 | 0 | 0 | For |
| Bluerock Total Income (plus) Real Estate Fund | 83,166 | 0 | 0 | 0 | For |
| AGF Investments Trust | 17,655 | 0 | 0 | 0 | For |
| VALUED ADVISERS TRUST | 7,883 | 0 | 0 | 0 | For |
100% fund support · no official result
The 4 asset managers below cast 100% of the shares they voted on this item FOR (247,547 for, 0 against).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Empower | 138,843 | 0 | 0 | 0 | For |
| Bluerock Total Income (plus) Real Estate Fund | 83,166 | 0 | 0 | 0 | For |
| AGF Investments Trust | 17,655 | 0 | 0 | 0 | For |
| VALUED ADVISERS TRUST | 7,883 | 0 | 0 | 0 | For |
Ranked by the number of AGREE REALTY CORP. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 110,018,590 shares outstanding at the time of that meeting.
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Vanguard | 13.54% |
| 2 | BlackRock | 10.04% |
| 3 | Cohen & Steers | 5.08% |
| 4 | State Street | 4.22% |
| 5 | American Century | 3.39% |
| 6 | Charles Schwab | 3.00% |
| 7 | PRINCIPAL GLOBAL INVESTORS | 2.14% |
| 8 | Fidelity | 2.13% |
| 9 | GEODE CAPITAL MANAGEMENT, LLC | 2.12% |
| 10 | Daiwa Securities Group Inc. | 1.96% |
Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).
| Holder | % outstanding | Disclosure |
|---|---|---|
| Cohen & Steers, Inc. | 16.29% | 13G |
| Vanguard Group | 13.56% | 13F |
| BlackRock | 11.81% | 13F |
| Vanguard Portfolio Management | 9.34% | 13G |
| State Street | 4.89% | 13F |
| JPMorgan Chase | 2.13% | 13F |
| Morgan Stanley | 1.57% | 13F |
| Charles Schwab | 1.54% | 13F |
| Invesco | 1.51% | 13F |
| Dimensional Fund Advisors | 1.44% | 13F |
Percentages above are of 110,018,590 shares outstanding, as reported by AGREE REALTY CORP. on its Form 10-Q dated 2025-03-31 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, so the percentages are the ones that were true then, not ones restated against today’s share count.
Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered investment companies and institutional managers disclose how they voted every proxy, and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from AGREE REALTY CORP.’s 10-Q dated 2025-03-31. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.
At AGREE REALTY CORP.'s shareholder meeting held 2025-05-15, in the 2024-2025 proxy season, 483 asset managers reported how they voted in their SEC Form N-PX filings, covering 3,524 separate fund positions. Their filings are grouped here into 9 reported items; because filers word the same ballot item differently, that can be more than the number of items on the ballot. On the most widely held item on that ballot — To approve, by non-binding vote, executive compensation. — FOR was 94% of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side), which is more than half. Whether the item was approved is for the filing to say; that statement has not been read for this item. Source: AGREE REALTY CORP.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on 2025-05-16.
AGREE REALTY CORP. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.