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WALMART INC. 2024-2025 Proxy Voting Records

Compiled from SEC Form N-PX filings and WALMART INC.’s Form 8-K (Item 5.07 on EDGAR). Page generated 02 October 2026.

38Reported items
1,639Asset managers
32,186Fund votes
2025-06-05Meeting date

Proxy season: 2023-2024 2024-2025 2025-2026

Explore WALMART INC. in the interactive database Compare manager voting policies

Official 2024-2025 meeting results reported by WALMART INC.

These tallies are WALMART INC.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K (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.

WALMART INC. — official shareholder meeting results, meeting held 2025-06-05
Ballot item	For	Against	Abstain	Withheld	Broker non-votes	Outcome
Elect Director: Cesar Conde	6,616,260,684	47,235,785	4,568,391	--	641,823,029	Majority: yes
Elect Director: Timothy P. Flynn	6,530,652,866	132,852,975	4,559,019	--	641,823,029	Majority: yes
Elect Director: Sarah J. Friar	6,629,720,362	34,151,216	4,193,282	--	641,823,029	Majority: yes
Elect Director: Carla A. Harris	6,458,066,614	205,674,794	4,323,452	--	641,823,029	Majority: yes
Elect Director: Thomas W. Horton	6,525,122,031	138,415,467	4,527,362	--	641,823,029	Majority: yes
Elect Director: Marissa A. Mayer	6,567,268,874	96,574,462	4,221,524	--	641,823,029	Majority: yes
Elect Director: C. Douglas McMillon	6,615,017,923	48,642,977	4,403,960	--	641,823,029	Majority: yes
Elect Director: Robert E. Moritz, Jr.	6,633,444,851	29,659,606	4,960,403	--	641,823,029	Majority: yes
Elect Director: Brian Niccol	6,627,878,208	35,345,441	4,841,211	--	641,823,029	Majority: yes
Elect Director: Gregory B. Penner	6,453,576,366	209,787,660	4,700,834	--	641,823,029	Majority: yes
Elect Director: Randall L. Stephenson	6,374,043,469	289,023,743	4,997,648	--	641,823,029	Majority: yes
Elect Director: Steuart L. Walton	6,614,706,765	49,107,097	4,250,998	--	641,823,029	Majority: yes
Ratification of Independent Accountants. The Company's shareholders voted upon and approved the ratification of the appointment of Ernst & Young LLP to serve as the Company's independent registered accountants for the fiscal year ending Jan	7,139,775,692	164,333,250	5,778,947	--	--	Majority: yes
Advisory Vote to Approve Named Executive Officer Compensation. The Company's shareholders voted upon and approved, by nonbinding, advisory vote, the compensation of the Company's named executive officers, as described in the Company's proxy	6,338,327,929	319,798,762	9,938,169	--	641,823,029	Majority: yes
Approval of the Walmart Inc. Stock Incentive Plan of 2025.	6,543,064,125	112,795,593	12,205,142	--	641,823,029	Majority: yes
The Company's shareholders voted upon and rejected a shareholder proposal requesting a third-party assessment of company policies regarding law enforcement information requests related to medication use by customers and employees.	272,112,750	6,359,897,136	36,054,974	--	641,823,029	Majority: no
Next, the Company's shareholders voted upon and rejected a shareholder proposal requesting a report on reduction of plastic packaging and recyclability claims.	388,291,800	6,257,356,783	22,416,277	--	641,823,029	Majority: no
The Company's shareholders then voted upon and rejected a shareholder proposal to revisit plastics packaging policies.	34,759,138	6,610,408,844	22,896,878	--	641,823,029	Majority: no
Then, the Company's shareholders voted upon and rejected a shareholder proposal requesting a racial equity audit.	452,542,890	6,153,109,452	62,412,518	--	641,823,029	Majority: no
Next, the Company's shareholders voted upon and rejected a shareholder proposal requesting a report on delays in revising diversity, equity, and inclusion (DEI) Initiatives.	25,437,064	6,619,160,622	23,467,174	--	641,823,029	Majority: no
The Company's shareholders also voted upon and rejected a shareholder proposal requesting a review of health and safety governance.	463,683,629	6,181,026,584	23,354,647	--	641,823,029	Majority: no
Finally, the Company's shareholders then voted upon and rejected a shareholder proposal requesting an evaluation of respect for civil liberties in advertising.	24,577,134	6,618,721,114	24,766,612	--	641,823,029	Majority: no

Source: WALMART INC., Form 8-K — read the filing on EDGAR.

How asset managers voted at the WALMART INC. 2024-2025 meeting

Each item below shows how the 1,639 asset managers that disclosed a WALMART 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. 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 WALMART INC.’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.

1. PROPOSAL NO. 3 ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 36 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 6,338,327,929AGAINST: 319,798,762

WALMART INC.’s own tally for this item (“Advisory Vote to Approve Named Executive Officer Compensation. The Company's shareholders voted upon and approved, by nonbinding, advisory vote, the compensation of the Company's named executive officers, as described in”): 6,338,327,929 for, 319,798,762 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 79% for, 4% against (83% of the company cast a for/against vote).

The 1,572 asset managers below cast 93% of the shares they voted on this item FOR (2,322,029,466 for, 177,357,042 against).

FOR 93%7%

FOR: 2,322,029,466 (92.8%)AGAINST: 177,357,042 (7.1%)ABSTAIN: 1,112,250 (0.0%)NOT VOTED: 413,827 (0.0%)UNKNOWN: 7,522 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “PROPOSAL NO. 3 ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	439,468,927	681	22	For
BlackRock	265,534,212	3,137,351	0	For
Fidelity	168,101,663	0	0	For
State Street	136,337,166	2,028,877	0	For
JPMorgan	101,624,752	0	0	For
GEODE CAPITAL MANAGEMENT, LLC	94,398,612	0	0	For
T. Rowe Price	62,153,494	842,975	0	For
Charles Schwab	58,763,462	0	0	For
Invesco	42,174,522	0	0	For
Putnam	41,520,654	0	0	For
Northern Trust	38,391,879	1,104,983	0	For
Legal & General Investment Management Ltd	426,623	38,866,323	0	Against
STATE FARM MUTUAL AUTOMOBILE INSURANCE CO	39,249,150	0	0	For
Fisher Asset Management, LLC	35,072,231	195,728	0	For
Nuveen	32,418,127	0	0	For
TIAA	25,668,969	0	0	For
JENNISON ASSOCIATES LLC	22,672,005	0	0	For
Columbia Threadneedle	19,411,983	1,015,022	0	For
UBS	18,176,861	1,973,750	0	For
PARAMETRIC PORTFOLIO ASSOCIATES LLC	0	18,969,994	0	Against
MELLON INVESTMENTS Corp	18,497,784	0	0	For
Six Circles Trust	16,822,202	0	0	For
Amundi	0	15,288,044	0	Against
AllianceBernstein	14,374,492	0	0	For
CALIFORNIA PUBLIC EMPLOYEES RETIREMENT SYSTEM	12,606,911	0	0	For

Showing the 25 largest of 1,572 asset managers. See all 1,572 in the interactive database.

2. Approval of Walmart Inc. Stock Incentive Plan of 2025

CAPITAL STRUCTUREMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 11 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 6,543,064,125AGAINST: 112,795,593

WALMART INC.’s own tally for this item (“Approval of the Walmart Inc. Stock Incentive Plan of 2025.”): 6,543,064,125 for, 112,795,593 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 82% for, 1% against (83% of the company cast a for/against vote).

The 261 asset managers below cast 99.6% of the shares they voted on this item FOR (1,005,148,943 for, 3,942,616 against).

FOR 99.5%

FOR: 1,005,148,943 (99.5%)AGAINST: 3,942,616 (0.4%)ABSTAIN: 622,745 (0.1%)A: 163,074 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Approval of Walmart Inc. Stock Incentive Plan of 2025” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,565	196	28	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,847,227	0	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Union Investment Privatfonds GmbH	10,069,328	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For

Showing the 25 largest of 261 asset managers. See all 261 in the interactive database.

3. Ratification of Ernst & Young LLP as Independent Accountants

AUDIT-RELATEDMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 9 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 7,139,775,692AGAINST: 164,333,250

WALMART INC.’s own tally for this item (“Ratification of Independent Accountants. The Company's shareholders voted upon and approved the ratification of the appointment of Ernst & Young LLP to serve as the Company's independent registered accountants for the fi”): 7,139,775,692 for, 164,333,250 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 89% for, 2% against (92% of the company cast a for/against vote).

The 241 asset managers below cast 99.8% of the shares they voted on this item FOR (996,194,987 for, 1,779,768 against).

FOR 99.7%

FOR: 996,194,987 (99.8%)AGAINST: 1,779,768 (0.2%)ABSTAIN: 372,829 (0.0%)UNKNOWN: 5,025 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Ratification of Ernst & Young LLP as Independent Accountants” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	413,939,888	148,894	7	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,846,535	692	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,149,067	25,255	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 241 asset managers. See all 241 in the interactive database.

4. Report on Delays in Revising Diversity, Equity, and Inclusion (DEI) Initiatives

DIVERSITY, EQUITY, AND INCLUSIONMajority of the votes cast: no

Meeting held 2025-06-05.

Combines 11 wordings of this item as funds reported it.

0.4% Majority: no · of votes cast

AGAINST 99.6%

FOR: 25,437,064AGAINST: 6,619,160,622

WALMART INC.’s own tally for this item (“Next, the Company's shareholders voted upon and rejected a shareholder proposal requesting a report on delays in revising diversity, equity, and inclusion (DEI) Initiatives.”): 25,437,064 for, 6,619,160,622 against, per its Form 8-K (Item 5.07). FOR was not 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 7,980,418,164 outstanding shares: 0.4% for, 83% against (83% of the company cast a for/against vote).

The 235 asset managers below cast 0.1% of the shares they voted on this item FOR (353,746 for, 995,572,812 against).

AGAINST 99.7%

FOR: 353,746 (0.0%)AGAINST: 995,572,812 (99.7%)ABSTAIN: 2,314,986 (0.2%)UNKNOWN: 11,554 (0.0%)NOT VOTED: 9,059 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Report on Delays in Revising Diversity, Equity, and Inclusion (DEI) Initiatives” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	52	414,088,679	58	Against
Fidelity	0	121,700,517	0	Against
BlackRock	0	114,081,363	0	Against
JPMorgan	0	34,711,266	0	Against
State Street	0	31,847,227	0	Against
Charles Schwab	0	27,384,365	0	Against
TIAA	0	25,136,465	0	Against
Columbia Threadneedle	0	19,405,293	0	Against
T. Rowe Price	0	18,367,756	0	Against
Putnam	0	17,106,582	0	Against
Six Circles Trust	0	16,822,202	0	Against
Invesco	0	16,137,439	0	Against
Prudential/PGIM	0	9,304,625	0	Against
FRANKLIN MANAGED TRUST	0	7,515,000	0	Against
Dimensional	0	7,058,101	0	Against
MASTER INVESTMENT PORTFOLIO	0	6,348,903	0	Against
WisdomTree	0	5,008,420	0	Against
Jackson National	0	4,486,034	0	Against
HARBOR FUNDS	0	4,221,013	0	Against
Equitable	0	4,174,322	0	Against
CITY NATIONAL ROCHDALE FUNDS	0	3,581,594	0	Against
Lord Abbett	0	3,260,051	0	Against
Advisers Investment Trust	0	3,227,300	0	Against
First Trust	0	2,972,403	0	Against
American Century	0	2,831,188	0	Against

Showing the 25 largest of 235 asset managers. See all 235 in the interactive database.

5. Health and Safety Governance

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCEMajority of the votes cast: no

Meeting held 2025-06-05.

Combines 6 wordings of this item as funds reported it.

7% Majority: no · of votes cast

AGAINST 93%

FOR: 463,683,629AGAINST: 6,181,026,584

WALMART INC.’s own tally for this item (“The Company's shareholders also voted upon and rejected a shareholder proposal requesting a review of health and safety governance.”): 463,683,629 for, 6,181,026,584 against, per its Form 8-K (Item 5.07). FOR was not 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 7,980,418,164 outstanding shares: 6% for, 77% against (83% of the company cast a for/against vote).

The 234 asset managers below cast 2% of the shares they voted on this item FOR (20,781,594 for, 975,233,791 against).

AGAINST 98%

FOR: 20,781,594 (2.1%)AGAINST: 975,233,791 (97.7%)ABSTAIN: 2,227,372 (0.2%)NOT VOTED: 9,059 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Health and Safety Governance” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	149,461	413,939,274	54	Against
Fidelity	0	121,700,517	0	Against
BlackRock	6,221,235	107,860,128	0	Against
JPMorgan	353	34,710,913	0	Against
State Street	10,787	31,836,440	0	Against
Charles Schwab	0	27,384,365	0	Against
TIAA	0	25,136,465	0	Against
Columbia Threadneedle	0	19,405,293	0	Against
T. Rowe Price	0	18,367,756	0	Against
Putnam	0	17,106,582	0	Against
Six Circles Trust	0	16,822,202	0	Against
Invesco	0	16,137,439	0	Against
Prudential/PGIM	93	9,304,532	0	Against
FRANKLIN MANAGED TRUST	0	7,515,000	0	Against
Dimensional	0	7,058,101	0	Against
MASTER INVESTMENT PORTFOLIO	79,103	6,269,800	0	Against
WisdomTree	0	5,008,420	0	Against
Jackson National	198,648	4,287,386	0	Against
HARBOR FUNDS	0	4,221,013	0	Against
Equitable	25,255	4,149,067	0	Against
CITY NATIONAL ROCHDALE FUNDS	0	3,581,594	0	Against
Lord Abbett	0	3,260,051	0	Against
Advisers Investment Trust	3,227,300	0	0	For
First Trust	0	2,972,403	0	Against
American Century	0	2,831,188	0	Against

Showing the 25 largest of 234 asset managers. See all 234 in the interactive database.

6. Report on Reduction of Plastic Packaging and Recyclability Claims

ENVIRONMENT OR CLIMATEMajority of the votes cast: no

Meeting held 2025-06-05.

Combines 6 wordings of this item as funds reported it.

6% Majority: no · of votes cast

AGAINST 94%

FOR: 388,291,800AGAINST: 6,257,356,783

WALMART INC.’s own tally for this item (“Next, the Company's shareholders voted upon and rejected a shareholder proposal requesting a report on reduction of plastic packaging and recyclability claims.”): 388,291,800 for, 6,257,356,783 against, per its Form 8-K (Item 5.07). FOR was not 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 7,980,418,164 outstanding shares: 5% for, 78% against (83% of the company cast a for/against vote).

The 234 asset managers below cast 4% of the shares they voted on this item FOR (35,997,422 for, 960,017,067 against).

AGAINST 96%

FOR: 35,997,422 (3.6%)AGAINST: 960,017,067 (96.2%)ABSTAIN: 2,227,275 (0.2%)NOT VOTED: 9,059 (0.0%)UNKNOWN: 993 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Report on Reduction of Plastic Packaging and Recyclability Claims” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	149,390	413,939,347	52	Against
Fidelity	53,019	121,647,498	0	Against
BlackRock	115,799	113,965,564	0	Against
JPMorgan	0	34,711,266	0	Against
State Street	10,787	31,836,440	0	Against
Charles Schwab	0	27,384,365	0	Against
TIAA	25,136,465	0	0	For
Columbia Threadneedle	0	19,405,293	0	Against
T. Rowe Price	0	18,367,756	0	Against
Putnam	0	17,106,582	0	Against
Six Circles Trust	0	16,822,202	0	Against
Invesco	0	16,137,439	0	Against
Prudential/PGIM	93	9,304,532	0	Against
FRANKLIN MANAGED TRUST	0	7,515,000	0	Against
Dimensional	752,259	6,305,842	0	Against
MASTER INVESTMENT PORTFOLIO	0	6,348,903	0	Against
WisdomTree	0	5,008,420	0	Against
Jackson National	0	4,486,034	0	Against
HARBOR FUNDS	0	4,221,013	0	Against
Equitable	25,255	4,149,067	0	Against
CITY NATIONAL ROCHDALE FUNDS	0	3,581,594	0	Against
Lord Abbett	0	3,260,051	0	Against
Advisers Investment Trust	0	3,227,300	0	Against
First Trust	0	2,972,403	0	Against
American Century	0	2,831,188	0	Against

Showing the 25 largest of 234 asset managers. See all 234 in the interactive database.

7. Request for Third-Party Assessment of Company Policies Regarding Law Enforcement Information Requests Related to Medication Use by Customers and Employees

OTHER SOCIAL ISSUESMajority of the votes cast: no

Meeting held 2025-06-05.

Combines 8 wordings of this item as funds reported it.

4% Majority: no · of votes cast

AGAINST 96%

FOR: 272,112,750AGAINST: 6,359,897,136

WALMART INC.’s own tally for this item (“The Company's shareholders voted upon and rejected a shareholder proposal requesting a third-party assessment of company policies regarding law enforcement information requests related to medication use by customers and ”): 272,112,750 for, 6,359,897,136 against, per its Form 8-K (Item 5.07). FOR was not 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 7,980,418,164 outstanding shares: 3% for, 80% against (83% of the company cast a for/against vote).

The 234 asset managers below cast 0.5% of the shares they voted on this item FOR (4,363,564 for, 991,573,929 against).

AGAINST 99.3%

FOR: 4,363,564 (0.4%)AGAINST: 991,573,929 (99.3%)ABSTAIN: 2,300,239 (0.2%)NOT VOTED: 9,059 (0.0%)UNKNOWN: 5,025 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Request for Third-Party Assessment of Company Policies Regarding Law Enforcement Information Requests Related ” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	149,129	413,939,575	85	Against
Fidelity	0	121,700,517	0	Against
BlackRock	87,385	113,993,978	0	Against
JPMorgan	0	34,711,266	0	Against
State Street	10,787	31,836,440	0	Against
Charles Schwab	0	27,384,365	0	Against
TIAA	0	25,136,465	0	Against
Columbia Threadneedle	0	19,405,293	0	Against
T. Rowe Price	0	18,367,756	0	Against
Putnam	0	17,106,582	0	Against
Six Circles Trust	0	16,822,202	0	Against
Invesco	0	16,137,439	0	Against
Prudential/PGIM	0	9,304,625	0	Against
FRANKLIN MANAGED TRUST	0	7,515,000	0	Against
Dimensional	0	7,058,101	0	Against
MASTER INVESTMENT PORTFOLIO	0	6,348,903	0	Against
WisdomTree	0	5,008,420	0	Against
Jackson National	0	4,486,034	0	Against
HARBOR FUNDS	0	4,221,013	0	Against
Equitable	0	4,174,322	0	Against
CITY NATIONAL ROCHDALE FUNDS	0	3,581,594	0	Against
Lord Abbett	0	3,260,051	0	Against
Advisers Investment Trust	0	3,227,300	0	Against
First Trust	0	2,972,403	0	Against
American Century	0	2,831,188	0	Against

Showing the 25 largest of 234 asset managers. See all 234 in the interactive database.

8. Revisit Plastics Packaging Policies

ENVIRONMENT OR CLIMATEMajority of the votes cast: no

Meeting held 2025-06-05.

Combines 6 wordings of this item as funds reported it.

0.6% Majority: no · of votes cast

AGAINST 99.4%

FOR: 34,759,138AGAINST: 6,610,408,844

WALMART INC.’s own tally for this item (“The Company's shareholders then voted upon and rejected a shareholder proposal to revisit plastics packaging policies.”): 34,759,138 for, 6,610,408,844 against, per its Form 8-K (Item 5.07). FOR was not 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 7,980,418,164 outstanding shares: 0.5% for, 83% against (83% of the company cast a for/against vote).

The 233 asset managers below cast 0.1% of the shares they voted on this item FOR (689,209 for, 995,271,785 against).

AGAINST 99.7%

FOR: 689,209 (0.1%)AGAINST: 995,271,785 (99.7%)ABSTAIN: 2,227,489 (0.2%)NOT VOTED: 9,059 (0.0%)UNKNOWN: 8,515 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Revisit Plastics Packaging Policies” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	148,597	413,940,136	56	Against
Fidelity	0	121,700,517	0	Against
BlackRock	0	114,081,363	0	Against
JPMorgan	0	34,711,266	0	Against
State Street	0	31,847,227	0	Against
Charles Schwab	0	27,384,365	0	Against
TIAA	0	25,136,465	0	Against
Columbia Threadneedle	0	19,405,293	0	Against
T. Rowe Price	0	18,367,756	0	Against
Putnam	0	17,106,582	0	Against
Six Circles Trust	0	16,822,202	0	Against
Invesco	0	16,137,439	0	Against
Prudential/PGIM	0	9,304,625	0	Against
FRANKLIN MANAGED TRUST	0	7,515,000	0	Against
Dimensional	0	7,058,101	0	Against
MASTER INVESTMENT PORTFOLIO	0	6,348,903	0	Against
WisdomTree	0	5,008,420	0	Against
Jackson National	0	4,486,034	0	Against
HARBOR FUNDS	0	4,221,013	0	Against
Equitable	0	4,174,322	0	Against
CITY NATIONAL ROCHDALE FUNDS	0	3,581,594	0	Against
Lord Abbett	0	3,260,051	0	Against
Advisers Investment Trust	0	3,227,300	0	Against
First Trust	0	2,972,403	0	Against
American Century	0	2,831,188	0	Against

Showing the 25 largest of 233 asset managers. See all 233 in the interactive database.

9. Shareholder Proposal Regarding Racial Equity Audit

DIVERSITY, EQUITY, AND INCLUSIONMajority of the votes cast: no

Meeting held 2025-06-05.

Combines 6 wordings of this item as funds reported it.

7% Majority: no · of votes cast

AGAINST 93%

FOR: 452,542,890AGAINST: 6,153,109,452

WALMART INC.’s own tally for this item (“Then, the Company's shareholders voted upon and rejected a shareholder proposal requesting a racial equity audit.”): 452,542,890 for, 6,153,109,452 against, per its Form 8-K (Item 5.07). FOR was not 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 7,980,418,164 outstanding shares: 6% for, 77% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 3% of the shares they voted on this item FOR (29,949,656 for, 945,073,811 against).

AGAINST 95%

FOR: 29,949,656 (3.0%)AGAINST: 945,073,811 (94.8%)ABSTAIN: 21,637,511 (2.2%)NOT VOTED: 9,059 (0.0%)UNKNOWN: 5,025 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Shareholder Proposal Regarding Racial Equity Audit” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	641,804	413,446,835	149	Against
Fidelity	0	121,700,517	0	Against
BlackRock	140,547	113,940,816	0	Against
JPMorgan	0	34,711,266	0	Against
State Street	10,787	31,836,440	0	Against
Charles Schwab	3,714	27,380,651	0	Against
TIAA	0	25,136,465	0	Against
Columbia Threadneedle	0	0	19,405,293	Abstain
T. Rowe Price	0	18,367,756	0	Against
Putnam	0	17,106,582	0	Against
Six Circles Trust	0	16,822,202	0	Against
Invesco	0	16,137,439	0	Against
Prudential/PGIM	1,835,097	7,469,528	0	Against
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	0	7,058,101	0	Against
MASTER INVESTMENT PORTFOLIO	0	6,348,903	0	Against
WisdomTree	0	5,008,420	0	Against
Jackson National	0	4,486,034	0	Against
HARBOR FUNDS	0	4,221,013	0	Against
Equitable	118,899	4,055,423	0	Against
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	0	3,260,051	0	Against
Advisers Investment Trust	0	3,227,300	0	Against
First Trust	0	2,972,403	0	Against
American Century	0	2,831,188	0	Against

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

10. Election of Directors: Cesar Conde

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 5 wordings of this item as funds reported it.

99.2% Majority: yes · of votes cast

FOR 99.2%

FOR: 6,616,260,684AGAINST: 47,235,785

WALMART INC.’s own tally for this item (“Elect Director: Cesar Conde”): 6,616,260,684 for, 47,235,785 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 83% for, 0.6% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 99.9% of the shares they voted on this item FOR (997,603,152 for, 163,529 against).

FOR 99.9%

FOR: 997,603,152 (99.9%)AGAINST: 163,529 (0.0%)ABSTAIN: 460,391 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Cesar Conde” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,668	111	10	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,847,227	0	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

11. Election of Directors: Timothy P. Flynn

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 6,530,652,866AGAINST: 132,852,975

WALMART INC.’s own tally for this item (“Elect Director: Timothy P. Flynn”): 6,530,652,866 for, 132,852,975 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 82% for, 2% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 99.8% of the shares they voted on this item FOR (996,299,225 for, 1,559,208 against).

FOR 99.8%

FOR: 996,299,225 (99.8%)AGAINST: 1,559,208 (0.2%)ABSTAIN: 372,962 (0.0%)UNKNOWN: 12,547 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Timothy P. Flynn” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,477	303	10	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,846,535	692	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

12. Election of Directors: Sarah J. Friar

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 5 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 6,629,720,362AGAINST: 34,151,216

WALMART INC.’s own tally for this item (“Elect Director: Sarah J. Friar”): 6,629,720,362 for, 34,151,216 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 83% for, 0.5% against (84% of the company cast a for/against vote).

The 230 asset managers below cast 99.9% of the shares they voted on this item FOR (997,692,214 for, 161,932 against).

FOR 99.9%

FOR: 997,692,214 (99.9%)AGAINST: 161,932 (0.0%)ABSTAIN: 372,927 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Sarah J. Friar” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,700	80	9	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,847,227	0	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

13. Election of Directors: Carla A. Harris

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 6 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 6,458,066,614AGAINST: 205,674,794

WALMART INC.’s own tally for this item (“Elect Director: Carla A. Harris”): 6,458,066,614 for, 205,674,794 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 81% for, 3% against (84% of the company cast a for/against vote).

The 230 asset managers below cast 99.5% of the shares they voted on this item FOR (993,733,156 for, 4,042,900 against).

FOR 99.5%

FOR: 993,733,156 (99.5%)AGAINST: 4,042,900 (0.4%)ABSTAIN: 460,365 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Carla A. Harris” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,354	426	9	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,847,227	0	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,532	93	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,149,067	25,255	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

14. Election of Directors: Thomas W. Horton

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 6,525,122,031AGAINST: 138,415,467

WALMART INC.’s own tally for this item (“Elect Director: Thomas W. Horton”): 6,525,122,031 for, 138,415,467 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 82% for, 2% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 99.7% of the shares they voted on this item FOR (995,327,223 for, 2,531,214 against).

FOR 99.7%

FOR: 995,327,223 (99.7%)AGAINST: 2,531,214 (0.3%)ABSTAIN: 372,959 (0.0%)UNKNOWN: 12,547 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Thomas W. Horton” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	413,939,982	148,797	10	For
Fidelity	121,700,517	0	0	For
BlackRock	114,052,949	28,414	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,847,227	0	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,532	93	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

15. Election of Directors: Marissa A. Mayer

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

99% Majority: yes · of votes cast

FOR 99%

FOR: 6,567,268,874AGAINST: 96,574,462

WALMART INC.’s own tally for this item (“Elect Director: Marissa A. Mayer”): 6,567,268,874 for, 96,574,462 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 82% for, 1% against (84% of the company cast a for/against vote).

The 230 asset managers below cast 99.8% of the shares they voted on this item FOR (996,325,416 for, 1,538,074 against).

FOR 99.8%

FOR: 996,325,416 (99.8%)AGAINST: 1,538,074 (0.2%)ABSTAIN: 372,930 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Marissa A. Mayer” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,558	222	9	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,846,535	692	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

16. Election of Directors: C. Douglas McMillon

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

99.2% Majority: yes · of votes cast

FOR 99.2%

FOR: 6,615,017,923AGAINST: 48,642,977

WALMART INC.’s own tally for this item (“Elect Director: C. Douglas McMillon”): 6,615,017,923 for, 48,642,977 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 83% for, 0.7% against (84% of the company cast a for/against vote).

The 230 asset managers below cast 99.9% of the shares they voted on this item FOR (997,680,414 for, 183,057 against).

FOR 99.9%

FOR: 997,680,414 (99.9%)AGAINST: 183,057 (0.0%)ABSTAIN: 372,949 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: C. Douglas McMillon” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,663	117	9	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,846,922	305	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

17. Election of Directors: Robert E. Moritz, Jr.

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

99.5% Majority: yes · of votes cast

FOR 99.5%

FOR: 6,633,444,851AGAINST: 29,659,606

WALMART INC.’s own tally for this item (“Elect Director: Robert E. Moritz, Jr.”): 6,633,444,851 for, 29,659,606 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 83% for, 0.4% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 99.9% of the shares they voted on this item FOR (997,614,524 for, 161,467 against).

FOR 99.9%

FOR: 997,614,524 (99.9%)AGAINST: 161,467 (0.0%)ABSTAIN: 460,430 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Robert E. Moritz, Jr.” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,708	71	11	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,847,227	0	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

18. Election of Directors: Brian Niccol

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 5 wordings of this item as funds reported it.

99.4% Majority: yes · of votes cast

FOR 99.4%

FOR: 6,627,878,208AGAINST: 35,345,441

WALMART INC.’s own tally for this item (“Elect Director: Brian Niccol”): 6,627,878,208 for, 35,345,441 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 83% for, 0.5% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 99.9% of the shares they voted on this item FOR (997,532,945 for, 233,708 against).

FOR 99.9%

FOR: 997,532,945 (99.9%)AGAINST: 233,708 (0.0%)ABSTAIN: 460,420 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Brian Niccol” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,697	82	10	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,847,227	0	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

19. Election of Directors: Gregory B. Penner

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

97% Majority: yes · of votes cast

FOR 97%

FOR: 6,453,576,366AGAINST: 209,787,660

WALMART INC.’s own tally for this item (“Elect Director: Gregory B. Penner”): 6,453,576,366 for, 209,787,660 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 81% for, 3% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 99.4% of the shares they voted on this item FOR (992,865,659 for, 4,993,760 against).

FOR 99.4%

FOR: 992,865,659 (99.5%)AGAINST: 4,993,760 (0.5%)ABSTAIN: 372,969 (0.0%)UNKNOWN: 11,554 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Gregory B. Penner” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	413,939,784	148,995	10	For
Fidelity	121,700,517	0	0	For
BlackRock	113,965,564	115,799	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,836,440	10,787	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

20. Election of Directors: Randall L. Stephenson

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

96% Majority: yes · of votes cast

FOR 96%

FOR: 6,374,043,469AGAINST: 289,023,743

WALMART INC.’s own tally for this item (“Elect Director: Randall L. Stephenson”): 6,374,043,469 for, 289,023,743 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 80% for, 4% against (83% of the company cast a for/against vote).

The 230 asset managers below cast 99.4% of the shares they voted on this item FOR (992,401,100 for, 5,462,319 against).

FOR 99.4%

FOR: 992,401,100 (99.4%)AGAINST: 5,462,319 (0.5%)ABSTAIN: 373,001 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Randall L. Stephenson” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	413,939,658	149,121	10	For
Fidelity	121,700,517	0	0	For
BlackRock	113,965,564	115,799	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,837,132	10,095	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,532	93	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,149,067	25,255	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

21. Election of Directors: Steuart L. Walton

DIRECTOR ELECTIONSMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 7 wordings of this item as funds reported it.

99.2% Majority: yes · of votes cast

FOR 99.2%

FOR: 6,614,706,765AGAINST: 49,107,097

WALMART INC.’s own tally for this item (“Elect Director: Steuart L. Walton”): 6,614,706,765 for, 49,107,097 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 83% for, 0.7% against (84% of the company cast a for/against vote).

The 230 asset managers below cast 99.9% of the shares they voted on this item FOR (997,653,312 for, 210,176 against).

FOR 99.9%

FOR: 997,653,312 (99.9%)AGAINST: 210,176 (0.0%)ABSTAIN: 372,933 (0.0%)UNKNOWN: 7,522 (0.0%)NOT VOTED: 1,759 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Election of Directors: Steuart L. Walton” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	414,088,662	118	9	For
Fidelity	121,700,517	0	0	For
BlackRock	114,081,363	0	0	For
JPMorgan	34,711,266	0	0	For
State Street	31,846,922	305	0	For
Charles Schwab	27,384,365	0	0	For
TIAA	25,136,465	0	0	For
Columbia Threadneedle	19,405,293	0	0	For
T. Rowe Price	18,367,756	0	0	For
Putnam	17,106,582	0	0	For
Six Circles Trust	16,822,202	0	0	For
Invesco	16,137,439	0	0	For
Prudential/PGIM	9,304,625	0	0	For
FRANKLIN MANAGED TRUST	7,515,000	0	0	For
Dimensional	7,058,101	0	0	For
MASTER INVESTMENT PORTFOLIO	6,348,903	0	0	For
WisdomTree	5,008,420	0	0	For
Jackson National	4,486,034	0	0	For
HARBOR FUNDS	4,221,013	0	0	For
Equitable	4,174,322	0	0	For
CITY NATIONAL ROCHDALE FUNDS	3,581,594	0	0	For
Lord Abbett	3,260,051	0	0	For
Advisers Investment Trust	3,227,300	0	0	For
First Trust	2,972,403	0	0	For
American Century	2,831,188	0	0	For

Showing the 25 largest of 230 asset managers. See all 230 in the interactive database.

22. Respect Civil Liberties in Advertising Services

HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCEMajority of the votes cast: no

Meeting held 2025-06-05.

Combines 5 wordings of this item as funds reported it.

0.4% Majority: no · of votes cast

AGAINST 99.6%

FOR: 24,577,134AGAINST: 6,618,721,114

WALMART INC.’s own tally for this item (“Finally, the Company's shareholders then voted upon and rejected a shareholder proposal requesting an evaluation of respect for civil liberties in advertising.”): 24,577,134 for, 6,618,721,114 against, per its Form 8-K (Item 5.07). FOR was not 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 7,980,418,164 outstanding shares: 0.4% for, 83% against (83% of the company cast a for/against vote).

The 228 asset managers below cast 0.1% of the shares they voted on this item FOR (348,487 for, 993,401,629 against).

AGAINST 99.6%

FOR: 348,487 (0.0%)AGAINST: 993,401,629 (99.7%)ABSTAIN: 2,849,835 (0.3%)UNKNOWN: 11,554 (0.0%)NOT VOTED: 9,059 (0.0%)AGAINSR: 4,951 (0.0%)WITHHOLD/ABSTAIN: 36 (0.0%)

Largest asset managers voting on “Respect Civil Liberties in Advertising Services” at WALMART INC., 2024-2025
Asset manager	For	Against	Abstain	Vote
Vanguard	50	414,088,679	60	Against
Fidelity	0	121,700,517	0	Against
BlackRock	0	114,081,363	0	Against
JPMorgan	0	34,711,266	0	Against
State Street	0	31,847,227	0	Against
Charles Schwab	0	27,384,365	0	Against
TIAA	0	25,136,465	0	Against
Columbia Threadneedle	0	19,405,293	0	Against
T. Rowe Price	0	18,367,756	0	Against
Putnam	0	17,106,582	0	Against
Six Circles Trust	0	16,822,202	0	Against
Invesco	0	16,137,439	0	Against
Prudential/PGIM	0	9,304,625	0	Against
FRANKLIN MANAGED TRUST	0	7,515,000	0	Against
Dimensional	0	7,058,101	0	Against
MASTER INVESTMENT PORTFOLIO	0	6,348,903	0	Against
WisdomTree	0	5,008,420	0	Against
Jackson National	0	4,486,034	0	Against
HARBOR FUNDS	0	4,221,013	0	Against
Equitable	0	4,174,322	0	Against
CITY NATIONAL ROCHDALE FUNDS	0	3,581,594	0	Against
Lord Abbett	0	3,260,051	0	Against
Advisers Investment Trust	0	3,227,300	0	Against
First Trust	0	2,972,403	0	Against
American Century	0	2,831,188	0	Against

Showing the 25 largest of 228 asset managers. See all 228 in the interactive database.

23. SECTION 14A EXECUTIVE COMPENSATION

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-06-05.

95% Majority: yes · of votes cast

FOR 95%

FOR: 6,338,327,929AGAINST: 319,798,762

The 29 asset managers below cast 42% of the shares they voted on this item FOR (1,048,285 for, 1,474,976 against).

FOR 39%AGAINST 54.9%

FOR: 1,048,285 (39.0%)AGAINST: 1,474,976 (54.9%)NOT VOTED: 163,074 (6.1%)

Largest asset managers voting on “SECTION 14A EXECUTIVE COMPENSATION” at WALMART INC., 2024-2025
Asset manager	For	Against	Vote
Focus Partners Wealth	330,353	1,429,685	Against
LEAVELL INVESTMENT MANAGEMENT, INC.	0	0	Not Voted
WESPAC Advisors SoCal, LLC	145,447	0	For
MATTERN CAPITAL MANAGEMENT, LLC	139,748	0	For
HOURGLASS CAPITAL, LLC	79,943	0	For
Claret Asset Management Corp	62,836	0	For
Blue Fin Capital, Inc.	60,818	0	For
PEDDOCK CAPITAL ADVISORS, LLC	47,192	0	For
IMA Advisory Services, Inc.	42,715	0	For
OLD SECOND NATIONAL BANK OF AURORA	37,286	0	For
WILLIAMSBURG INVESTMENT TRUST	0	27,500	Against
EAGLE GLOBAL ADVISORS LLC	19,898	0	For
Williamson Legacy Group, LLC	15,495	0	For
WOODARD & CO ASSET MANAGEMENT GROUP INC /ADV	0	12,961	Against
Baker Avenue Asset Management, LP	12,893	0	For
COURIER CAPITAL LLC	12,703	0	For
River Street Advisors LLC	12,253	0	For
Inlet Private Wealth, LLC	9,642	0	For
Campion Asset Management	0	4,830	Against
Bramshill Investments, LLC	4,000	0	For
Palisades Hudson Asset Management, L.P.	3,749	0	For
Moisand Fitzgerald Tamayo, LLC	3,624	0	For
Wallington Asset Management, LLC	2,878	0	For
HARBOUR INVESTMENT MANAGEMENT LLC	2,784	0	For
Simplify Exchange Traded Funds	760	0	For

Showing the 25 largest of 29 asset managers. See all 29 in the interactive database.

24. Amend Omnibus Stock Plan

COMPENSATIONMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 2 wordings of this item as funds reported it.

98% Majority: yes · of votes cast

FOR 98%

FOR: 6,543,064,125AGAINST: 112,795,593

The 16 asset managers below cast 100% of the shares they voted on this item FOR (2,066,162 for, 0 against).

FOR 100%

FOR: 2,066,162 (100.0%)

Largest asset managers voting on “Amend Omnibus Stock Plan” at WALMART INC., 2024-2025
Asset manager	For	Vote
Empower	636,804	For
GuideStone	589,937	For
iA Global Asset Management Inc.	424,768	For
HC CAPITAL TRUST	175,950	For
CLEARWATER INVESTMENT TRUST	71,211	For
Lincoln Financial	55,793	For
Close Asset Management Ltd	33,230	For
GreenFi Funds Trust	24,331	For
Canopy Partners, LLC	22,464	For
Northern Lights Variable Trust	13,769	For
Northern Lights Fund Trust	12,636	For
NORTHERN LIGHTS FUND TRUST III	3,789	For
America First Investment Advisors, LLC	1,113	For
Manitou Investment Management Ltd.	255	For
UNIFIED SERIES TRUST	112	For
OARSMAN CAPITAL, INC.	0	--

25. Advisory Vote to Approve Named Executive Compensation

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2024-06-05 (outside the 2024-2025 season's 1 July to 30 June window; reported in this season's filings).

Combines 3 wordings of this item as funds reported it.

93% Majority: yes · of votes cast

FOR 93%7%

FOR: 6,186,027,386AGAINST: 501,360,064

WALMART INC.’s own tally for this item (“Advisory Vote to Approve Named Executive Officer Compensation. The Company's shareholders voted upon and approved, by nonbinding, advisory vote, the compensation of the Company's named executive officers, as described in”): 6,186,027,386 for, 501,360,064 against, per its Form 8-K (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 7,980,418,164 outstanding shares: 78% for, 6% against (84% of the company cast a for/against vote).

The 11 asset managers below cast 18% of the shares they voted on this item FOR (41,395 for, 183,843 against).

FOR 18%AGAINST 82%

FOR: 41,395 (18.4%)AGAINST: 183,843 (81.6%)

Largest asset managers voting on “Advisory Vote to Approve Named Executive Compensation” at WALMART INC., 2024-2025
Asset manager	For	Against	Vote
COLDSTREAM CAPITAL MANAGEMENT INC	0	111,610	Against
DIVIDEND ASSETS CAPITAL, LLC	0	46,360	Against
VAUGHAN DAVID INVESTMENTS LLC/IL	0	25,873	Against
Sky Investment Group LLC	20,223	0	For
First Trust	11,844	0	For
Seascape Capital Management	3,666	0	For
Americana Partners, LLC	2,697	0	For
Axiom Financial Strategies, LLC	2,257	0	For
Ipswich Investment Management Co., Inc.	708	0	For
Echo45 Advisors LLC	0	0	--
Synergy Investment Management, LLC	0	0	--

26. Conduct and Report a Third-Party Racial Equity Audit

OTHER SOCIAL ISSUESMajority of the votes cast: no

Meeting held 2025-06-05.

7% Majority: no · of votes cast

AGAINST 93%

FOR: 452,542,890AGAINST: 6,153,109,452

The 10 asset managers below cast 16% of the shares they voted on this item FOR (247,161 for, 1,333,382 against).

FOR 16%AGAINST 84%

FOR: 247,161 (15.6%)AGAINST: 1,333,382 (84.4%)

Largest asset managers voting on “Conduct and Report a Third-Party Racial Equity Audit” at WALMART INC., 2024-2025
Asset manager	For	Against	Vote
Empower	0	636,804	Against
GuideStone	0	589,937	Against
HC CAPITAL TRUST	175,950	0	For
CLEARWATER INVESTMENT TRUST	71,211	0	For
Lincoln Financial	0	55,793	Against
GreenFi Funds Trust	0	24,331	Against
Northern Lights Variable Trust	0	13,769	Against
Northern Lights Fund Trust	0	12,636	Against
UNIFIED SERIES TRUST	0	112	Against
OARSMAN CAPITAL, INC.	0	0	--

27. Report on Risks of Discriminating Based on Religious and Political Views

OTHER SOCIAL ISSUES

Meeting held 2025-06-05.

37% fund support · no official result

FOR 37%AGAINST 63%

The 10 asset managers below cast 37% of the shares they voted on this item FOR (589,937 for, 990,606 against).

FOR: 589,937 (37.3%)AGAINST: 990,606 (62.7%)

Largest asset managers voting on “Report on Risks of Discriminating Based on Religious and Political Views” at WALMART INC., 2024-2025
Asset manager	For	Against	Vote
Empower	0	636,804	Against
GuideStone	589,937	0	For
HC CAPITAL TRUST	0	175,950	Against
CLEARWATER INVESTMENT TRUST	0	71,211	Against
Lincoln Financial	0	55,793	Against
GreenFi Funds Trust	0	24,331	Against
Northern Lights Variable Trust	0	13,769	Against
Northern Lights Fund Trust	0	12,636	Against
UNIFIED SERIES TRUST	0	112	Against
OARSMAN CAPITAL, INC.	0	0	--

28. Election of Directors (Majority Voting)

DIRECTOR ELECTIONS

Meeting held 2025-06-05.

All nominees (reported as one line). These filers reported the election of directors as a single line covering every nominee. It is not attributed to any one director, and no share total is shown for it.

100% fund support · no official result

FOR 100%

The 6 asset managers below cast 100% of the shares they voted on this item FOR.

FOR: 100.0%

Largest asset managers voting on “Election of Directors (Majority Voting)” at WALMART INC., 2024-2025
Asset manager	For	Vote
HARBOUR INVESTMENT MANAGEMENT LLC	33,408	For
WILLIAMSBURG INVESTMENT TRUST	27,500	For
Williamson Legacy Group, LLC	15,495	For
Simplify Exchange Traded Funds	760	For
VOISARD ASSET MANAGEMENT GROUP, INC.	399	For
ESL Trust Services, LLC	115	For

29. S/H Proposal - Corporate Governance

SHAREHOLDER RIGHTS AND DEFENSES

Meeting held 2025-06-05.

38% fund support · no official result

FOR 29%AGAINST 47.5%NOT VOTED 24%

The 6 asset managers below cast 38% of the shares they voted on this item FOR (16,654 for, 27,615 against).

FOR: 16,654 (28.6%)AGAINST: 27,615 (47.5%)NOT VOTED: 13,920 (23.9%)

Largest asset managers voting on “S/H Proposal - Corporate Governance” at WALMART INC., 2024-2025
Asset manager	For	Against	Vote
WILLIAMSBURG INVESTMENT TRUST	0	27,500	Against
Williamson Legacy Group, LLC	15,495	0	For
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	Not Voted
Simplify Exchange Traded Funds	760	0	For
VOISARD ASSET MANAGEMENT GROUP, INC.	399	0	For
ESL Trust Services, LLC	0	115	Against

30. S/H Proposal - Environmental

SHAREHOLDER RIGHTS AND DEFENSES

Meeting held 2025-06-05.

37% fund support · no official result

FOR 35%AGAINST 60%

The 6 asset managers below cast 37% of the shares they voted on this item FOR (16,255 for, 28,014 against).

FOR: 16,255 (34.5%)AGAINST: 28,014 (59.5%)NOT VOTED: 2,784 (5.9%)

Largest asset managers voting on “S/H Proposal - Environmental” at WALMART INC., 2024-2025
Asset manager	For	Against	Vote
WILLIAMSBURG INVESTMENT TRUST	0	27,500	Against
Williamson Legacy Group, LLC	15,495	0	For
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	Not Voted
Simplify Exchange Traded Funds	760	0	For
VOISARD ASSET MANAGEMENT GROUP, INC.	0	399	Against
ESL Trust Services, LLC	0	115	Against

31. S/H Proposal - Health Issues

SHAREHOLDER RIGHTS AND DEFENSES

Meeting held 2025-06-05.

37% fund support · no official result

FOR 35%AGAINST 60%

The 6 asset managers below cast 37% of the shares they voted on this item FOR (16,255 for, 28,014 against).

FOR: 16,255 (34.5%)AGAINST: 28,014 (59.5%)NOT VOTED: 2,784 (5.9%)

Largest asset managers voting on “S/H Proposal - Health Issues” at WALMART INC., 2024-2025
Asset manager	For	Against	Vote
WILLIAMSBURG INVESTMENT TRUST	0	27,500	Against
Williamson Legacy Group, LLC	15,495	0	For
HARBOUR INVESTMENT MANAGEMENT LLC	0	0	Not Voted
Simplify Exchange Traded Funds	760	0	For
VOISARD ASSET MANAGEMENT GROUP, INC.	0	399	Against
ESL Trust Services, LLC	0	115	Against

32. Shareholder Proposal Regarding Assessment of Plastic Production and Packaging Policies

ENVIRONMENT OR CLIMATE

Meeting held 2025-06-05.

0% fund support · no official result

AGAINST 100%

The 4 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 45,759 against).

AGAINST: 45,759 (100.0%)

Largest asset managers voting on “Shareholder Proposal Regarding Assessment of Plastic Production and Packaging Policies” at WALMART INC., 2024-2025
Asset manager	Against	Vote
AMERICAN BEACON FUNDS	35,800	Against
Northern Lights Fund Trust IV	6,446	Against
PACE SELECT ADVISORS TRUST	1,978	Against
Virtus	1,535	Against

33. Shareholder Proposal Regarding Report on Risk from Discriminatory Ad Policies

OTHER SOCIAL ISSUES

Meeting held 2025-06-05.

0% fund support · no official result

AGAINST 100%

The 4 asset managers below cast 0% of the shares they voted on this item FOR (0 for, 45,759 against).

AGAINST: 45,759 (100.0%)

Largest asset managers voting on “Shareholder Proposal Regarding Report on Risk from Discriminatory Ad Policies” at WALMART INC., 2024-2025
Asset manager	Against	Vote
AMERICAN BEACON FUNDS	35,800	Against
Northern Lights Fund Trust IV	6,446	Against
PACE SELECT ADVISORS TRUST	1,978	Against
Virtus	1,535	Against

34. SECTION 14A SAY-ON-PAY VOTES

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-06-05.

Combines 2 wordings of this item as funds reported it.

95% Majority: yes · of votes cast

FOR 95%

FOR: 6,338,327,929AGAINST: 319,798,762

The 3 asset managers below cast 100% of the shares they voted on this item FOR (223,846 for, 0 against).

FOR 100%

FOR: 223,846 (100.0%)

Largest asset managers voting on “SECTION 14A SAY-ON-PAY VOTES” at WALMART INC., 2024-2025
Asset manager	For	Vote
Lido Advisors, LLC	215,856	For
SWEENEY & MICHEL, LLC	7,789	For
Pinnacle Family Advisors, LLC	201	For

35. Director Elections

DIRECTOR ELECTIONS

Meeting held 2025-06-05.

Combines 3 wordings of this item as funds reported it.

100% fund support · no official result

FOR 100%

The 3 asset managers below cast 100% of the shares they voted on this item FOR (31,155 for, 0 against).

FOR: 31,155 (100.0%)

Largest asset managers voting on “Director Elections” at WALMART INC., 2024-2025
Asset manager	For	Vote
X-Square Balanced Fund, LLC	15,864	For
Members Trust Co	10,340	For
Ballew Advisors, Inc	4,951	For

36. COMPENSATION

SECTION 14A SAY-ON-PAY VOTESMajority of the votes cast: yes

Meeting held 2025-06-05.

95% Majority: yes · of votes cast

FOR 95%

FOR: 6,338,327,929AGAINST: 319,798,762

The 3 asset managers below cast 100% of the shares they voted on this item FOR (27,586 for, 0 against).

FOR 100%

FOR: 27,586 (100.0%)

Largest asset managers voting on “COMPENSATION” at WALMART INC., 2024-2025
Asset manager	For	Vote
Capital Group	17,130	For
Members Trust Co	10,340	For
Blue Sky Capital Consultants Group, Inc.	116	For

Showing the 36 reported items with the widest manager coverage, of 38 in total. View every item.

Largest WALMART INC. shareholders voting in 2024-2025

Ranked by the number of WALMART INC. shares each manager voted on the most widely held ballot item of the 2024-2025 meeting, shown as a share of the 7,980,418,164 shares outstanding at the time of that meeting.

Top WALMART INC. shareholders by shares voted, 2024-2025
#	Asset manager	% of shares outstanding
1	Vanguard	5.51%
2	BlackRock	3.37%
3	Fidelity	2.11%
4	State Street	1.73%
5	JPMorgan	1.27%
6	GEODE CAPITAL MANAGEMENT, LLC	1.18%
7	T. Rowe Price	0.79%
8	Charles Schwab	0.74%
9	Invesco	0.53%
10	Putnam	0.52%

Reported WALMART INC. ownership

Positions disclosed to the SEC on Schedules 13D and 13G, Form 13F and the company’s own proxy statement (DEF 14A).

WALMART INC. beneficial owners on record for the 2024-2025 proxy season
Holder	% outstanding	Disclosure
Walton Enterprises, LLC	44.15%	13D
Vanguard Group	5.34%	13F
BlackRock	4.29%	13F
State Street	2.30%	13F
JPMorgan Chase	1.24%	13F
Geode Capital	1.18%	13F
Morgan Stanley	1.04%	13F
Walmart Inc.	0.96%	13D
Norges Bank	0.87%	13F
FMR (Fidelity)	0.67%	13F

Percentages above are of 7,980,418,164 shares outstanding, as reported by WALMART INC. on its Form 10-Q dated 2025-06-04 (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.

About this page

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 WALMART INC.’s 10-Q dated 2025-06-04. This page is a static snapshot rebuilt weekly on 02 October 2026; a live search always shows the current data.

At WALMART INC.'s shareholder meeting held 2025-06-05, in the 2024-2025 proxy season, 1,639 asset managers reported how they voted in their SEC Form N-PX filings, covering 32,186 separate fund positions. Their filings are grouped here into 38 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 — PROPOSAL NO. 3 ADVISORY VOTE TO APPROVE NAMED EXECUTIVE OFFICER COMPENSATION — FOR was 95% 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: WALMART INC.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission (filing date not recorded for this item).

WALMART INC. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.