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At Natural Grocers by Vitamin Cottage, Inc.'s shareholder meeting held March 5, 2025, in the 2024-2025 proxy season, 64 asset managers reported how they voted on 3 ballot items in their SEC Form N-PX filings, covering 509 separate fund positions. On the most widely held item on that ballot — Election of Director: Elizabeth Isely — FOR was 80% of the votes cast (FOR divided by FOR plus WITHHELD, because this ballot offered only for and withhold; 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: Natural Grocers by Vitamin Cottage, Inc.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on March 11, 2025.
Download data (CSV): ballot items · votes by manager · column guide.
Compiled from SEC Form N-PX filings and Natural Grocers by Vitamin Cottage, Inc.’s Form 8-K, filed March 11, 2025 (Item 5.07 on EDGAR). Page generated November 8, 2026.
Meeting of March 5, 2025: 3 items on Natural Grocers by Vitamin Cottage, Inc.’s Form 8-K, filed March 11, 2025: 2 approved · 1 without a stated outcome.
Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided
Explore Natural Grocers by Vitamin Cottage, Inc. in the interactive database Compare manager voting policies
These tallies are Natural Grocers by Vitamin Cottage, Inc.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed March 11, 2025 (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 | Support (of votes cast) | Reported outcome | Voting standard |
|---|---|---|---|---|---|---|---|---|
| Elect Director: Elizabeth Isely | 16,110,867 | -- | -- | 3,920,304 | 1,202,791 | 80% | Not verified | — |
| 2. To ratify the appointment of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2025 ("Proposal No. 2"); and | 21,077,069 | 145,990 | 10,903 | -- | -- | 99.3% | Approved | — |
| 3. To approve an amendment to the Company's Amended and Restated Certificate of Incorporation to limit the liability of certain officers of the Company as permitted by amendments to Delaware law ("Proposal No. 3") | 15,134,935 | 4,852,508 | 43,728 | -- | 1,202,791 | 76% | Approved | — |
Source: Natural Grocers by Vitamin Cottage, Inc., Form 8-K, filed with the SEC on March 11, 2025 — read the filing on EDGAR.
Each item below shows how the 64 asset managers that disclosed a Natural Grocers by Vitamin Cottage, Inc. 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.
Combines 2 wordings of this item as funds reported it.
80% Majority: yes · of votes cast
Description as filed by funds: Election of Director: Elizabeth Isely
Natural Grocers by Vitamin Cottage, Inc.’s own tally for this item (“Elect Director: Elizabeth Isely”): 16,110,867 for, 3,920,304 withheld, per its Form 8-K filed March 11, 2025 (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.
Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 80% of votes cast — FOR ÷ (FOR + WITHHELD); abstentions and broker non-votes are excluded.
The 64 asset managers below reported 1,640,831 for, 2,121,731 withheld, 130 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 0 | 0 | 0 | 992,435 | Withhold |
| Vanguard | 679,221 | 0 | 0 | 0 | For |
| American Century | 0 | 0 | 0 | 433,996 | Withhold |
| BlackRock | 371,795 | 0 | 0 | 0 | For |
| Fidelity | 193,782 | 0 | 0 | 56,398 | Mixed |
| OBERWEIS FUNDS | 0 | 0 | 0 | 107,100 | Withhold |
| Lord Abbett | 0 | 0 | 0 | 96,503 | Withhold |
| BRIDGEWAY FUNDS INC | 0 | 0 | 0 | 85,800 | Withhold |
| WisdomTree | 82,106 | 0 | 0 | 0 | For |
| FIRST EAGLE FUNDS | 0 | 0 | 0 | 76,981 | Withhold |
| Equitable | 16,909 | 0 | 0 | 56,809 | Mixed |
| SEI | 56,905 | 0 | 0 | 0 | For |
| Investment Managers Series Trust II | 43,576 | 0 | 0 | 0 | For |
| First Trust | 0 | 0 | 0 | 33,092 | Withhold |
| TIAA | 0 | 0 | 0 | 30,301 | Withhold |
| Ultimus Managers Trust | 28,941 | 0 | 0 | 0 | For |
| RBC FUNDS TRUST | 28,260 | 0 | 0 | 0 | For |
| Charles Schwab | 27,361 | 0 | 0 | 0 | For |
| Invesco | 0 | 0 | 0 | 27,322 | Withhold |
| HUSSMAN INVESTMENT TRUST | 21,000 | 0 | 0 | 0 | For |
| Goldman Sachs | 0 | 0 | 0 | 16,540 | Withhold |
| Federated Hermes | 16,444 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 15,769 | 0 | 0 | 0 | For |
| EA Series Trust | 0 | 0 | 0 | 15,572 | Withhold |
| Pacific Life | 4,261 | 0 | 0 | 9,792 | Mixed |
Showing the 25 largest of 64 asset managers. All 64 are in the interactive database (link above).
Combines 2 wordings of this item as funds reported it.
76% Approved · of votes cast
Description as filed by funds: TO APPROVE AN AMENDMENT TO THE COMPANY'S AMENDED AND RESTATED CERTIFICATE OF INCORPORATION TO LIMIT THE LIABILITY OF CERTAIN OFFICERS OF THE COMPANY AS PERMITTED BY AMENDMENTS TO DELAWARE LAW.
Natural Grocers by Vitamin Cottage, Inc.’s own tally for this item (“3. To approve an amendment to the Company's Amended and Restated Certificate of Incorporation to limit the liability of certain officers of the Company as permitted by amendments to Delaware law ("Proposal No. 3")”): 15,134,935 for, 4,852,508 against — passed, per its Form 8-K filed March 11, 2025 (Item 5.07).
Reported outcome: Approved, in the filing’s own words: “The Company's stockholders approved Proposal No. 3.”
Support: 76% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 64 asset managers below reported 1,299,214 for, 2,442,478 against, 21,000 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 0 | 992,435 | 0 | 0 | Against |
| Vanguard | 679,221 | 0 | 0 | 0 | For |
| American Century | 0 | 433,996 | 0 | 0 | Against |
| BlackRock | 371,795 | 0 | 0 | 0 | For |
| Fidelity | 56,398 | 193,782 | 0 | 0 | Mixed |
| OBERWEIS FUNDS | 0 | 107,100 | 0 | 0 | Against |
| Lord Abbett | 0 | 96,503 | 0 | 0 | Against |
| BRIDGEWAY FUNDS INC | 0 | 85,800 | 0 | 0 | Against |
| WisdomTree | 0 | 82,106 | 0 | 0 | Against |
| FIRST EAGLE FUNDS | 0 | 76,981 | 0 | 0 | Against |
| Equitable | 16,909 | 56,809 | 0 | 0 | Mixed |
| SEI | 0 | 56,905 | 0 | 0 | Against |
| Investment Managers Series Trust II | 43,576 | 0 | 0 | 0 | For |
| First Trust | 0 | 33,092 | 0 | 0 | Against |
| TIAA | 0 | 30,301 | 0 | 0 | Against |
| Ultimus Managers Trust | 28,941 | 0 | 0 | 0 | For |
| RBC FUNDS TRUST | 0 | 28,260 | 0 | 0 | Against |
| Charles Schwab | 0 | 27,361 | 0 | 0 | Against |
| Invesco | 27,322 | 0 | 0 | 0 | For |
| HUSSMAN INVESTMENT TRUST | 0 | 0 | 21,000 | 0 | Abstain |
| Goldman Sachs | 0 | 16,540 | 0 | 0 | Against |
| Federated Hermes | 16,444 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 15,769 | 0 | 0 | 0 | For |
| EA Series Trust | 15,572 | 0 | 0 | 0 | For |
| Pacific Life | 4,261 | 9,792 | 0 | 0 | Mixed |
Showing the 25 largest of 64 asset managers. All 64 are in the interactive database (link above).
Combines 2 wordings of this item as funds reported it.
99.3% Approved · of votes cast
Description as filed by funds: TO RATIFY THE APPOINTMENT OF KPMG LLP AS THE COMPANY'S INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING SEPTEMBER 30, 2025.
Natural Grocers by Vitamin Cottage, Inc.’s own tally for this item (“2. To ratify the appointment of KPMG LLP ("KPMG") as the Company's independent registered public accounting firm for the fiscal year ending September 30, 2025 ("Proposal No. 2"); and”): 21,077,069 for, 145,990 against — passed, per its Form 8-K filed March 11, 2025 (Item 5.07).
Reported outcome: Approved, in the filing’s own words: “The Company's stockholders approved Proposal No. 2.”
Support: 99.3% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 64 asset managers below reported 3,718,179 for, 44,513 against.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dimensional | 992,435 | 0 | 0 | 0 | For |
| Vanguard | 679,221 | 0 | 0 | 0 | For |
| American Century | 433,996 | 0 | 0 | 0 | For |
| BlackRock | 371,795 | 0 | 0 | 0 | For |
| Fidelity | 250,180 | 0 | 0 | 0 | For |
| OBERWEIS FUNDS | 107,100 | 0 | 0 | 0 | For |
| Lord Abbett | 96,503 | 0 | 0 | 0 | For |
| BRIDGEWAY FUNDS INC | 85,800 | 0 | 0 | 0 | For |
| WisdomTree | 82,106 | 0 | 0 | 0 | For |
| FIRST EAGLE FUNDS | 76,981 | 0 | 0 | 0 | For |
| Equitable | 73,718 | 0 | 0 | 0 | For |
| SEI | 56,905 | 0 | 0 | 0 | For |
| Investment Managers Series Trust II | 43,576 | 0 | 0 | 0 | For |
| First Trust | 33,092 | 0 | 0 | 0 | For |
| TIAA | 30,301 | 0 | 0 | 0 | For |
| Ultimus Managers Trust | 0 | 28,941 | 0 | 0 | Against |
| RBC FUNDS TRUST | 28,260 | 0 | 0 | 0 | For |
| Charles Schwab | 27,361 | 0 | 0 | 0 | For |
| Invesco | 27,322 | 0 | 0 | 0 | For |
| HUSSMAN INVESTMENT TRUST | 21,000 | 0 | 0 | 0 | For |
| Goldman Sachs | 16,540 | 0 | 0 | 0 | For |
| Federated Hermes | 16,444 | 0 | 0 | 0 | For |
| QUANTITATIVE MASTER SERIES LLC | 15,769 | 0 | 0 | 0 | For |
| EA Series Trust | 0 | 15,572 | 0 | 0 | Against |
| Pacific Life | 14,053 | 0 | 0 | 0 | For |
Showing the 25 largest of 64 asset managers. All 64 are in the interactive database (link above).
Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 22,931,226 shares outstanding at the time of that meeting.
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Dimensional | 4.33% |
| 2 | Vanguard | 2.96% |
| 3 | American Century | 1.89% |
| 4 | BlackRock | 1.62% |
| 5 | Fidelity | 1.09% |
| 6 | OBERWEIS FUNDS | 0.47% |
| 7 | Lord Abbett | 0.42% |
| 8 | BRIDGEWAY FUNDS INC | 0.37% |
| 9 | WisdomTree | 0.36% |
| 10 | FIRST EAGLE FUNDS | 0.34% |
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Portside Wealth Group, LLC | <0.01% |
As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.
| Holder | % outstanding | Disclosure |
|---|---|---|
| Dimensional Fund Advisors | 4.26% | 13F |
| Vanguard Group | 3.30% | 13F |
| BlackRock | 3.15% | 13F |
| Renaissance Technologies | 2.52% | 13F |
| Millennium Management | 1.12% | 13F |
| Geode Capital | 0.99% | 13F |
| Wellington Management | 0.98% | 13F |
| State Street | 0.87% | 13F |
| Morgan Stanley | 0.56% | 13F |
| BNY Mellon | 0.50% | 13F |
Percentages above are of 22,931,226 shares outstanding, as reported by Natural Grocers by Vitamin Cottage, Inc. on its Form 10-Q dated February 3, 2025 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.
Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from Natural Grocers by Vitamin Cottage, Inc.’s 10-Q dated February 3, 2025. This page is a static snapshot rebuilt weekly on November 8, 2026; a live search always shows the current data.
Natural Grocers by Vitamin Cottage, Inc. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.
proxyvotesnow.com, “Natural Grocers by Vitamin Cottage (NGVC) 2025 Annual Meeting”, https://proxyvotesnow.com/company/natural-grocers-by-vitamin-cottage-inc/2025 (version of November 9, 2026). Derived from SEC Form N-PX and Form 8-K filings; tables licensed CC BY 4.0. Licence: CC BY 4.0.