Ivy Funds (FYE 6/30)

N-PX 1 d613018dnpx.htm IVY FUNDS (FYE 6/30) Ivy Funds (FYE 6/30)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-6569

IVY FUNDS

(Exact Name as Specified in Charter)

6300 Lamar Avenue, Overland Park, Kansas 66202-4200

(Address of Principal Executive Office) (Zip Code)

Philip A. Shipp, 6300 Lamar Avenue, Overland Park, Kansas 66202-4200

(Name and Address of Agent for Service)

Registrant’s Telephone Number, including Area Code: (913) 236-2000

Date of fiscal year end: June 30

Date of reporting period: July 1, 2017 to June 30, 2018

IVY ACCUMULATIVE FUND

Proxy Voting Record

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

TEVA- PHARMACEUTICAL INDUSTRIES LTD


Meeting Date:	07/13/2017	Country:	Israel	Primary Security ID:	881624209

Record Date:	06/13/2017	Meeting Type:	Annual	Ticker:	TEVA

		Shares Voted:	15,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

	Meeting for ADR Holders	Mgmt

1a	Elect Sol J. Barer as Director Until 2020 Annual General Meeting	Mgmt	For	For	For

1b	Elect Jean-Michel Halfon as Director Until 2020 Annual General Meeting	Mgmt	For	For	For

1c	Elect Murray A. Goldberg as Director Until 2020 Annual General Meeting	Mgmt	For	For	For

1d	Elect Nechemia (Chemi) J. Peres as Director Until 2020 Annual General Meeting	Mgmt	For	For	For

1e	Elect Roberto Mignone as Director Until 2019 Annual General Meeting	Mgmt	For	For	For

1f	Elect Perry D. Nisen as Director Until 2019 Annual General Meeting	Mgmt	For	For	For

2	Approve Compensation of Sol J. Barer, Chairman	Mgmt	For	Refer	For

3	Approve Employment Terms of Yitzhak Peterburg, Temporary CEO	Mgmt	For	For	For

4	Approve Compensation of Directors	Mgmt	For	Refer	For

5	Approve an Amendment to the Equity Compensation Plan	Mgmt	For	Refer	For

6	Approve Executive Incentive Bonus Plan	Mgmt	For	Refer	For

7	Reduce Teva’s Registered Share Capital to NIS 249,434,338	Mgmt	For	For	For

8	Appoint Kesselman & Kesselman as Auditors	Mgmt	For	For	For

Jazz Pharmaceuticals plc


Meeting Date:	08/03/2017	Country:	Ireland	Primary Security ID:	G50871105

Record Date:	06/07/2017	Meeting Type:	Annual	Ticker:	JAZZ

		Shares Voted:	165,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Bruce C. Cozadd	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Jazz Pharmaceuticals plc


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1b	Elect Director Heather Ann McSharry	Mgmt	For	For	For

1c	Elect Director Rick E Winningham	Mgmt	For	For	For

2	Approve KPMG, Dublin as Auditors and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Authorize Share Repurchase Program	Mgmt	For	For	For

Xilinx, Inc.


Meeting Date:	08/09/2017	Country:	USA	Primary Security ID:	983919101

Record Date:	06/12/2017	Meeting Type:	Annual	Ticker:	XLNX

		Shares Voted:	300,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Dennis Segers	Mgmt	For	For	For

1.2	Elect Director Moshe N. Gavrielov	Mgmt	For	For	For

1.3	Elect Director Saar Gillai	Mgmt	For	For	For

1.4	Elect Director Ronald S. Jankov	Mgmt	For	For	For

1.5	Elect Director Thomas H. Lee	Mgmt	For	For	For

1.6	Elect Director J. Michael Patterson	Mgmt	For	For	For

1.7	Elect Director Albert A. Pimentel	Mgmt	For	For	For

1.8	Elect Director Marshall C. Turner	Mgmt	For	For	For

1.9	Elect Director Elizabeth W. Vanderslice	Mgmt	For	For	For

2	Amend Qualified Employee Stock Purchase Plan	Mgmt	For	For	For

3	Amend Omnibus Stock Plan	Mgmt	For	Refer	For

4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

5	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

6	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

NIKE, Inc.


Meeting Date:	09/21/2017	Country:	USA	Primary Security ID:	654106103

Record Date:	07/21/2017	Meeting Type:	Annual	Ticker:	NKE

		Shares Voted:	28,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Alan B. Graf, Jr.	Mgmt	For	For	For

1.2	Elect Director John C. Lechleiter	Mgmt	For	For	For

1.3	Elect Director Michelle A. Peluso	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

4	Amend Executive Incentive Bonus Plan	Mgmt	For	Refer	For

5	Report on Political Contributions Disclosure	SH	Against	Against	Against

6	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

FedEx Corporation


Meeting Date:	09/25/2017	Country:	USA	Primary Security ID:	31428X106

Record Date:	07/31/2017	Meeting Type:	Annual	Ticker:	FDX

		Shares Voted:	60,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director James L. Barksdale	Mgmt	For	For	For

1.2	Elect Director John A. Edwardson	Mgmt	For	For	For

1.3	Elect Director Marvin R. Ellison	Mgmt	For	For	For

1.4	Elect Director John C. (“Chris”) Inglis	Mgmt	For	For	For

1.5	Elect Director Kimberly A. Jabal	Mgmt	For	For	For

1.6	Elect Director Shirley Ann Jackson	Mgmt	For	For	For

1.7	Elect Director R. Brad Martin	Mgmt	For	For	For

1.8	Elect Director Joshua Cooper Ramo	Mgmt	For	For	For

1.9	Elect Director Susan C. Schwab	Mgmt	For	For	For

1.10	Elect Director Frederick W. Smith	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

FedEx Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.11	Elect Director David P. Steiner	Mgmt	For	For	For

1.12	Elect Director Paul S. Walsh	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

4	Amend Omnibus Stock Plan	Mgmt	For	Refer	For

5	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

6	Amend Proxy Access Right	SH	Against	Against	Against

7	Report on Lobbying Payments and Policy	SH	Against	Against	Against

8	Provide For Confidential Running Vote Tallies On Executive Pay Matters	SH	Against	For	For

9	Report on Company Non-Discrimination Policies in States with Pro-Discrimination Laws	SH	Against	Against	Against

General Mills, Inc.


Meeting Date:	09/26/2017	Country:	USA	Primary Security ID:	370334104

Record Date:	07/28/2017	Meeting Type:	Annual	Ticker:	GIS

		Shares Voted:	225,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Bradbury H. Anderson	Mgmt	For	For	For

1b	Elect Director Alicia Boler Davis	Mgmt	For	For	For

1c	Elect Director R. Kerry Clark	Mgmt	For	For	For

1d	Elect Director David M. Cordani	Mgmt	For	For	For

1e	Elect Director Roger W. Ferguson, Jr.	Mgmt	For	For	For

1f	Elect Director Henrietta H. Fore	Mgmt	For	For	For

1g	Elect Director Jeffrey L. Harmening	Mgmt	For	For	For

1h	Elect Director Maria G. Henry	Mgmt	For	For	For

1i	Elect Director Heidi G. Miller	Mgmt	For	For	For

1j	Elect Director Steve Odland	Mgmt	For	For	For

1k	Elect Director Kendall J. Powell	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

General Mills, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1l	Elect Director Eric D. Sprunk	Mgmt	For	For	For

1m	Elect Director Jorge A. Uribe	Mgmt	For	For	For

2	Approve Omnibus Stock Plan	Mgmt	For	Refer	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

5	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

Microsoft Corporation


Meeting Date:	11/29/2017	Country:	USA	Primary Security ID:	594918104

Record Date:	09/29/2017	Meeting Type:	Annual	Ticker:	MSFT

		Shares Voted:	482,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director William H. Gates, III	Mgmt	For	For	For

1.2	Elect Director Reid G. Hoffman	Mgmt	For	For	For

1.3	Elect Director Hugh F. Johnston	Mgmt	For	For	For

1.4	Elect Director Teri L. List-Stoll	Mgmt	For	For	For

1.5	Elect Director Satya Nadella	Mgmt	For	For	For

1.6	Elect Director Charles H. Noski	Mgmt	For	For	For

1.7	Elect Director Helmut Panke	Mgmt	For	For	For

1.8	Elect Director Sandra E. Peterson	Mgmt	For	For	For

1.9	Elect Director Penny S. Pritzker	Mgmt	For	For	For

1.10	Elect Director Charles W. Scharf	Mgmt	For	For	For

1.11	Elect Director Arne M. Sorenson	Mgmt	For	For	For

1.12	Elect Director John W. Stanton	Mgmt	For	For	For

1.13	Elect Director John W. Thompson	Mgmt	For	For	For

1.14	Elect Director Padmasree Warrior	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Microsoft Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

4	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

5	Amend Executive Incentive Bonus Plan	Mgmt	For	Refer	For

6	Approve Omnibus Stock Plan	Mgmt	For	Refer	For

Vail Resorts, Inc.


Meeting Date:	12/06/2017	Country:	USA	Primary Security ID:	91879Q109

Record Date:	10/10/2017	Meeting Type:	Annual	Ticker:	MTN

		Shares Voted:	60,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Susan L. Decker	Mgmt	For	For	For

1b	Elect Director Roland A. Hernandez	Mgmt	For	For	For

1c	Elect Director Robert A. Katz	Mgmt	For	For	For

1d	Elect Director John T. Redmond	Mgmt	For	For	For

1e	Elect Director Michele Romanow	Mgmt	For	For	For

1f	Elect Director Hilary A. Schneider	Mgmt	For	For	For

1g	Elect Director D. Bruce Sewell	Mgmt	For	For	For

1h	Elect Director John F. Sorte	Mgmt	For	For	For

1i	Elect Director Peter A. Vaughn	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

XPO Logistics, Inc.


Meeting Date:	12/20/2017	Country:	USA	Primary Security ID:	983793100

Record Date:	11/17/2017	Meeting Type:	Special	Ticker:	XPO

		Shares Voted:	300,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1	Approve Qualified Employee Stock Purchase Plan	Mgmt	For	For	For

2	Adjourn Meeting	Mgmt	For	For	For

Woodward, Inc.


Meeting Date:	01/24/2018	Country:	USA	Primary Security ID:	980745103

Record Date:	11/27/2017	Meeting Type:	Annual	Ticker:	WWD

		Shares Voted:	170,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Thomas A. Gendron	Mgmt	For	For	For

1.2	Elect Director Daniel G. Korte	Mgmt	For	For	For

1.3	Elect Director Ronald M. Sega	Mgmt	For	For	For

2	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Amend Omnibus Stock Plan	Mgmt	For	Refer	For

Costco Wholesale Corporation


Meeting Date:	01/30/2018	Country:	USA	Primary Security ID:	22160K105

Record Date:	11/24/2017	Meeting Type:	Annual	Ticker:	COST

		Shares Voted:	225,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Kenneth D. Denman	Mgmt	For	For	For

1.2	Elect Director W. Craig Jelinek	Mgmt	For	For	For

1.3	Elect Director Jeffrey S. Raikes	Mgmt	For	For	For

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Costco Wholesale Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Adopt Simple Majority Vote	SH	Against	For	For

5	Adopt Policy Regarding Prison Labor	SH	Against	Refer	Against

Emerson Electric Co.


Meeting Date:	02/06/2018	Country:	USA	Primary Security ID:	291011104

Record Date:	11/28/2017	Meeting Type:	Annual	Ticker:	EMR

		Shares Voted:	125,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Arthur F. Golden	Mgmt	For	For	For

1.2	Elect Director Candace Kendle	Mgmt	For	For	For

1.3	Elect Director James S. Turley	Mgmt	For	For	For

1.4	Elect Director Gloria A. Flach	Mgmt	For	For	For

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Amend Articles of Incorporation to Provide Shareholders the Right to Amend Bylaws	Mgmt	For	Refer	For

5	Adopt the Jurisdiction of Incorporation as the Exclusive Forum for Certain Disputes	Mgmt	For	Refer	Against

6	Require Independent Board Chairman	SH	Against	Refer	For

7	Report on Political Contributions	SH	Against	Against	Against

8	Report on Lobbying Payments and Policy	SH	Against	Against	Against

9	Adopt Quantitative Company-wide GHG Goals	SH	Against	Refer	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Apple Inc.


Meeting Date:	02/13/2018	Country:	USA	Primary Security ID:	037833100

Record Date:	12/15/2017	Meeting Type:	Annual	Ticker:	AAPL

		Shares Voted:	475,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director James Bell	Mgmt	For	For	For

1b	Elect Director Tim Cook	Mgmt	For	For	For

1c	Elect Director Al Gore	Mgmt	For	For	For

1d	Elect Director Bob Iger	Mgmt	For	For	For

1e	Elect Director Andrea Jung	Mgmt	For	For	For

1f	Elect Director Art Levinson	Mgmt	For	For	For

1g	Elect Director Ron Sugar	Mgmt	For	For	For

1h	Elect Director Sue Wagner	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Amend Non-Employee Director Omnibus Stock Plan	Mgmt	For	Refer	For

5	Proxy Access Amendments	SH	Against	Against	Against

6	Establish Human Rights Committee	SH	Against	Refer	Against

Applied Materials, Inc.


Meeting Date:	03/08/2018	Country:	USA	Primary Security ID:	038222105

Record Date:	01/10/2018	Meeting Type:	Annual	Ticker:	AMAT

		Shares Voted:	280,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Judy Bruner	Mgmt	For	For	For

1b	Elect Director Xun (Eric) Chen	Mgmt	For	For	For

1c	Elect Director Aart J. de Geus	Mgmt	For	For	For

1d	Elect Director Gary E. Dickerson	Mgmt	For	For	For

1e	Elect Director Stephen R. Forrest	Mgmt	For	For	For

1f	Elect Director Thomas J. Iannotti	Mgmt	For	For	For

1g	Elect Director Alexander A. Karsner	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Applied Materials, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1h	Elect Director Adrianna C. Ma	Mgmt	For	For	For

1i	Elect Director Scott A. McGregor	Mgmt	For	For	For

1j	Elect Director Dennis D. Powell	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

4	Provide Right to Act by Written Consent	SH	Against	For	For

5	Adopt Policy to Annually Disclose EEO-1 Data	SH	Against	Against	Against

The Walt Disney Company


Meeting Date:	03/08/2018	Country:	USA	Primary Security ID:	254687106

Record Date:	01/08/2018	Meeting Type:	Annual	Ticker:	DIS

		Shares Voted:	425,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Susan E. Arnold	Mgmt	For	For	For

1b	Elect Director Mary T. Barra	Mgmt	For	For	For

1c	Elect Director Safra A. Catz	Mgmt	For	For	For

1d	Elect Director John S. Chen	Mgmt	For	For	For

1e	Elect Director Francis A. deSouza	Mgmt	For	For	For

1f	Elect Director Robert A. Iger	Mgmt	For	For	For

1g	Elect Director Maria Elena Lagomasino	Mgmt	For	For	For

1h	Elect Director Fred H. Langhammer	Mgmt	For	For	For

1i	Elect Director Aylwin B. Lewis	Mgmt	For	For	For

1j	Elect Director Mark G. Parker	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Amend Executive Incentive Bonus Plan	Mgmt	For	Refer	For

4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

5	Report on Lobbying Payments and Policy	SH	Against	Against	Against

6	Proxy Access Bylaw Amendment	SH	Against	Against	Against

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Analog Devices, Inc.


Meeting Date:	03/14/2018	Country:	USA	Primary Security ID:	032654105

Record Date:	01/08/2018	Meeting Type:	Annual	Ticker:	ADI

		Shares Voted:	250,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Ray Stata	Mgmt	For	For	For

1b	Elect Director Vincent Roche	Mgmt	For	For	For

1c	Elect Director James A. Champy	Mgmt	For	For	For

1d	Elect Director Bruce R. Evans	Mgmt	For	For	For

1e	Elect Director Edward H. Frank	Mgmt	For	For	For

1f	Elect Director Mark M. Little	Mgmt	For	For	For

1g	Elect Director Neil Novich	Mgmt	For	For	For

1h	Elect Director Kenton J. Sicchitano	Mgmt	For	For	For

1i	Elect Director Lisa T. Su	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Starbucks Corporation


Meeting Date:	03/21/2018	Country:	USA	Primary Security ID:	855244109

Record Date:	01/11/2018	Meeting Type:	Annual	Ticker:	SBUX

		Shares Voted:	646,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Howard Schultz	Mgmt	For	For	For

1b	Elect Director Rosalind G. Brewer	Mgmt	For	For	For

1c	Elect Director Mary N. Dillon	Mgmt	For	For	For

1d	Elect Director Mellody Hobson	Mgmt	For	For	For

1e	Elect Director Kevin R. Johnson	Mgmt	For	For	For

1f	Elect Director Jorgen Vig Knudstorp	Mgmt	For	For	For

1g	Elect Director Satya Nadella	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Starbucks Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1h	Elect Director Joshua Cooper Ramo	Mgmt	For	For	For

1i	Elect Director Clara Shih	Mgmt	For	For	For

1j	Elect Director Javier G. Teruel	Mgmt	For	For	For

1k	Elect Director Myron E. Ullman, III	Mgmt	For	For	For

1l	Elect Director Craig E. Weatherup	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

4	Proxy Access Bylaw Amendments	SH	Against	Against	Against

5	Report on Sustainable Packaging	SH	Against	Refer	Against

6	Report on Paid Family Leave Withdrawn Resolution	SH

7	Prepare Employment Diversity Report and Report on Diversity Policies	SH	Against	Against	Against

Broadcom Limited


Meeting Date:	03/23/2018	Country:	Singapore	Primary Security ID:	Y09827109

Record Date:	03/05/2018	Meeting Type:	Court	Ticker:	AVGO

		Shares Voted:	140,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

	Court-Ordered Meeting for Shareholders	Mgmt

1	Approve Scheme of Arrangement	Mgmt	For	Refer	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

QUALCOMM Incorporated


Meeting Date:	03/23/2018	Country:	USA	Primary Security ID:	747525103

Record Date:	01/08/2018	Meeting Type:	Proxy Contest	Ticker:	QCOM

		Shares Voted:	310,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

	Management Proxy (White Proxy Card)	Mgmt

1.1	Elect Director Barbara T. Alexander	Mgmt	For	Refer	Do Not Vote

1.2	Elect Director Jeffrey W. Henderson	Mgmt	For	Refer	Do Not Vote

1.3	Elect Director Thomas W. Horton	Mgmt	For	Refer	Do Not Vote

1.4	Elect Director Paul E. Jacobs	Mgmt	For	Refer	Do Not Vote

1.5	Elect Director Ann M. Livermore	Mgmt	For	Refer	Do Not Vote

1.6	Elect Director Harish Manwani	Mgmt	For	Refer	Do Not Vote

1.7	Elect Director Mark D. McLaughlin	Mgmt	For	Refer	Do Not Vote

1.8	Elect Director Steve Mollenkopf	Mgmt	For	Refer	Do Not Vote

1.9	Elect Director Clark T. “Sandy” Randt, Jr.	Mgmt	For	Refer	Do Not Vote

1.10	Elect Director Francisco Ros	Mgmt	For	Refer	Do Not Vote

1.11	Elect Director Anthony J. Vinciquerra	Mgmt	For	Refer	Do Not Vote

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	Refer	Do Not Vote

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	Refer	Do Not Vote

4	Amend Qualified Employee Stock Purchase Plan	Mgmt	For	Refer	Do Not Vote

5	Eliminate Supermajority Vote Requirement to Remove Directors	Mgmt	For	Refer	Do Not Vote

6	Eliminate Supermajority Vote Requirement Relating to Amendments and Obsolete Provisions	Mgmt	For	Refer	Do Not Vote

7	Eliminate Supermajority Vote Requirement for Business Combinations with Interested Stockholders	Mgmt	For	Refer	Do Not Vote

8	Repeal Amendments to the Company’s Bylaws Adopted Without Stockholder Approval After July 15, 2016	SH	Against	Refer	Do Not Vote

	Dissident Proxy (Blue Proxy Card)	Mgmt

1.1	Elect Director Samih Elhage	SH	For	Refer	For

1.2	Elect Director David G. Golden	SH	For	Refer	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

QUALCOMM Incorporated


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.3	Elect Director Veronica M. Hagen	SH	For	Refer	For

1.4	Elect Director Julie A. Hill	SH	For	Refer	For

1.5	Elect Director John H. Kispert	SH	For	Refer	For

1.6	Elect Director Harry L. You	SH	For	Refer	For

2	Repeal Amendments to the Company’s Bylaws Adopted Without Stockholder Approval After July 15, 2016	SH	For	Refer	For

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	Refer	For

4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	None	Refer	For

5	Amend Qualified Employee Stock Purchase Plan	Mgmt	None	Refer	For

6	Eliminate Supermajority Vote Requirement to Remove Directors	Mgmt	For	Refer	For

7	Eliminate Supermajority Vote Requirement Relating to Amendments and Obsolete Provisions	Mgmt	For	Refer	For

8	Eliminate Supermajority Vote Requirement for Business Combinations with Interested Stockholders	Mgmt	For	Refer	For

Broadcom Limited


Meeting Date:	04/04/2018	Country:	Singapore	Primary Security ID:	Y09827109

Record Date:	02/12/2018	Meeting Type:	Annual	Ticker:	AVGO

		Shares Voted:	140,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Hock E. Tan	Mgmt	For	For	For

1b	Elect Director James V. Diller	Mgmt	For	For	For

1c	Elect Director Gayla J. Delly	Mgmt	For	For	For

1d	Elect Director Lewis C. Eggebrecht	Mgmt	For	For	For

1e	Elect Director Kenneth Y. Hao	Mgmt	For	For	For

1f	Elect Director Eddy W. Hartenstein	Mgmt	For	For	For

1g	Elect Director Check Kian Low	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Broadcom Limited


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1h	Elect Director Donald Macleod	Mgmt	For	For	For

1i	Elect Director Peter J. Marks	Mgmt	For	For	For

1j	Elect Director Henry Samueli	Mgmt	For	For	For

2	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For

3	Approve Issuance of Shares With or Without Preemptive Rights	Mgmt	For	For	For

4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Schlumberger Limited


Meeting Date:	04/04/2018	Country:	Curacao	Primary Security ID:	806857108

Record Date:	02/07/2018	Meeting Type:	Annual	Ticker:	SLB

		Shares Voted:	325,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Peter L.S. Currie	Mgmt	For	For	For

1b	Elect Director Miguel M. Galuccio	Mgmt	For	For	For

1c	Elect Director V. Maureen Kempston Darkes	Mgmt	For	For	For

1d	Elect Director Paal Kibsgaard	Mgmt	For	For	For

1e	Elect Director Nikolay Kudryavtsev	Mgmt	For	For	For

1f	Elect Director Helge Lund	Mgmt	For	For	For

1g	Elect Director Michael E. Marks	Mgmt	For	For	For

1h	Elect Director Indra K. Nooyi	Mgmt	For	For	For

1i	Elect Director Lubna S. Olayan	Mgmt	For	For	For

1j	Elect Director Leo Rafael Reif	Mgmt	For	For	For

1k	Elect Director Henri Seydoux	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Adopt and Approve Financials and Dividends	Mgmt	For	For	For

4	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Schlumberger Limited


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

5	Amend Omnibus Stock Plan	Mgmt	For	For	For

Schneider National, Inc.


Meeting Date:	04/23/2018	Country:	USA	Primary Security ID:	80689H102

Record Date:	02/22/2018	Meeting Type:	Annual	Ticker:	SNDR

		Shares Voted:	275,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Mary P. DePrey	Mgmt	For	Refer	Withhold

1.2	Elect Director Thomas A. Gannon	Mgmt	For	Refer	Withhold

1.3	Elect Director James R. Giertz	Mgmt	For	For	For

1.4	Elect Director Adam P. Godfrey	Mgmt	For	Refer	Withhold

1.5	Elect Director Robert W. Grubbs	Mgmt	For	Refer	Withhold

1.6	Elect Director Norman E. Johnson	Mgmt	For	Refer	Withhold

1.7	Elect Director Christopher B. Lofgren	Mgmt	For	Refer	Withhold

1.8	Elect Director Daniel J. Sullivan	Mgmt	For	Refer	Withhold

1.9	Elect Director Kathleen M. Zimmermann	Mgmt	For	Refer	Withhold

2	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

The Kraft Heinz Company


Meeting Date:	04/23/2018	Country:	USA	Primary Security ID:	500754106

Record Date:	02/22/2018	Meeting Type:	Annual	Ticker:	KHC

		Shares Voted:	185,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Gregory E. Abel	Mgmt	For	For	For

1b	Elect Director Alexandre Behring	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

The Kraft Heinz Company


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1c	Elect Director John T. Cahill	Mgmt	For	For	For

1d	Elect Director Tracy Britt Cool	Mgmt	For	For	For

1e	Elect Director Feroz Dewan	Mgmt	For	For	For

1f	Elect Director Jeanne P. Jackson	Mgmt	For	For	For

1g	Elect Director Jorge Paulo Lemann	Mgmt	For	For	For

1h	Elect Director John C. Pope	Mgmt	For	For	For

1i	Elect Director Marcel Herrmann Telles	Mgmt	For	For	For

1j	Elect Director Alexandre Van Damme	Mgmt	For	For	For

1k	Elect Director George Zoghbi	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

4	Assess Environmental Impact of Non-Recyclable Packaging	SH	Against	Refer	Against

Citigroup Inc.


Meeting Date:	04/24/2018	Country:	USA	Primary Security ID:	172967424

Record Date:	02/26/2018	Meeting Type:	Annual	Ticker:	C

		Shares Voted:	400,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Michael L. Corbat	Mgmt	For	For	For

1b	Elect Director Ellen M. Costello	Mgmt	For	For	For

1c	Elect Director John C. Dugan	Mgmt	For	For	For

1d	Elect Director Duncan P. Hennes	Mgmt	For	For	For

1e	Elect Director Peter B. Henry	Mgmt	For	For	For

1f	Elect Director Franz B. Humer	Mgmt	For	For	For

1g	Elect Director S. Leslie Ireland	Mgmt	For	For	For

1h	Elect Director Renee J. James	Mgmt	For	For	For

1i	Elect Director Eugene M. McQuade	Mgmt	For	For	For

1j	Elect Director Michael E. O’Neill	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Citigroup Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1k	Elect Director Gary M. Reiner	Mgmt	For	For	For

1l	Elect Director Anthony M. Santomero	Mgmt	For	For	For

1m	Elect Director Diana L. Taylor	Mgmt	For	For	For

1n	Elect Director James S. Turley	Mgmt	For	For	For

1o	Elect Director Deborah C. Wright	Mgmt	For	For	For

1p	Elect Director Ernesto Zedillo Ponce De Leon	Mgmt	For	For	For

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Amend Omnibus Stock Plan	Mgmt	For	For	For

5	Adopt Human and Indigenous People’s Rights Policy	SH	Against	Against	Against

6	Provide for Cumulative Voting	SH	Against	Against	Against

7	Report on Lobbying Payments and Policy	SH	Against	Against	Against

8	Amend Proxy Access Right	SH	Against	Against	Against

9	Prohibit Accelerated Vesting of Awards to Pursue Government Service	SH	Against	Refer	For

10	Amend Bylaws - Call Special Meetings	SH	Against	For	For

Shire plc


Meeting Date:	04/24/2018	Country:	Jersey	Primary Security ID:	G8124V108

Record Date:	03/22/2018	Meeting Type:	Annual	Ticker:	SHP

		Shares Voted:	140,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

	Meeting for ADR Holders	Mgmt

1	Accept Financial Statements and Statutory Reports	Mgmt	For	For	For

2	Approve Remuneration Report	Mgmt	For	For	For

3	Approve Remuneration Policy	Mgmt	For	For	For

4	Re-elect Olivier Bohuon as Director	Mgmt	For	For	For

5	Re-elect Ian Clark as Director	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Shire plc


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

6	Elect Thomas Dittrich as Director	Mgmt	For	For	For

7	Re-elect Gail Fosler as Director	Mgmt	For	For	For

8	Re-elect Steven Gillis as Director	Mgmt	For	For	For

9	Re-elect David Ginsburg as Director	Mgmt	For	For	For

10	Re-elect Susan Kilsby as Director	Mgmt	For	For	For

11	Re-elect Sara Mathew as Director	Mgmt	For	For	For

12	Re-elect Flemming Ornskov as Director	Mgmt	For	For	For

13	Re-elect Albert Stroucken as Director	Mgmt	For	For	For

14	Reappoint Deloitte LLP as Auditors	Mgmt	For	For	For

15	Authorise the Audit, Compliance & Risk Committee to Fix Remuneration of Auditors	Mgmt	For	For	For

16	Authorise Issue of Equity with Pre-emptive Rights	Mgmt	For	For	For

17	Authorise Issue of Equity without Pre-emptive Rights	Mgmt	For	For	For

18	Authorise Issue of Equity without Pre-emptive Rights in Connection with an Acquisition or Other Capital Investment	Mgmt	For	For	For

19	Authorise Market Purchase of Ordinary Shares	Mgmt	For	For	For

20	Authorise the Company to Call General Meeting with Two Weeks’ Notice	Mgmt	For	For	For

The PNC Financial Services Group, Inc.


Meeting Date:	04/24/2018	Country:	USA	Primary Security ID:	693475105

Record Date:	02/02/2018	Meeting Type:	Annual	Ticker:	PNC

		Shares Voted:	110,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Charles E. Bunch	Mgmt	For	For	For

1.2	Elect Director Debra A. Cafaro	Mgmt	For	For	For

1.3	Elect Director Marjorie Rodgers Cheshire	Mgmt	For	For	For

1.4	Elect Director William S. Demchak	Mgmt	For	For	For

1.5	Elect Director Andrew T. Feldstein	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

The PNC Financial Services Group, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.6	Elect Director Daniel R. Hesse	Mgmt	For	For	For

1.7	Elect Director Richard B. Kelson	Mgmt	For	For	For

1.8	Elect Director Linda R. Medler	Mgmt	For	For	For

1.9	Elect Director Martin Pfinsgraff	Mgmt	For	For	For

1.10	Elect Director Donald J. Shepard	Mgmt	For	For	For

1.11	Elect Director Michael J. Ward	Mgmt	For	For	For

1.12	Elect Director Gregory D. Wasson	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Bank of America Corporation


Meeting Date:	04/25/2018	Country:	USA	Primary Security ID:	060505104

Record Date:	03/02/2018	Meeting Type:	Annual	Ticker:	BAC

		Shares Voted:	1,075,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Sharon L. Allen	Mgmt	For	For	For

1b	Elect Director Susan S. Bies	Mgmt	For	For	For

1c	Elect Director Jack O. Bovender, Jr.	Mgmt	For	For	For

1d	Elect Director Frank P. Bramble, Sr.	Mgmt	For	For	For

1e	Elect Director Pierre J.P. de Weck	Mgmt	For	For	For

1f	Elect Director Arnold W. Donald	Mgmt	For	For	For

1g	Elect Director Linda P. Hudson	Mgmt	For	For	For

1h	Elect Director Monica C. Lozano	Mgmt	For	For	For

1i	Elect Director Thomas J. May	Mgmt	For	For	For

1j	Elect Director Brian T. Moynihan	Mgmt	For	For	For

1k	Elect Director Lionel L. Nowell, III	Mgmt	For	For	For

1l	Elect Director Michael D. White	Mgmt	For	For	For

1m	Elect Director Thomas D. Woods	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Bank of America Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1n	Elect Director R. David Yost	Mgmt	For	For	For

1o	Elect Director Maria T. Zuber	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

4	Require Independent Board Chairman	SH	Against	Refer	For

Lockheed Martin Corporation


Meeting Date:	04/26/2018	Country:	USA	Primary Security ID:	539830109

Record Date:	02/23/2018	Meeting Type:	Annual	Ticker:	LMT

		Shares Voted:	50,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Daniel F. Akerson	Mgmt	For	For	For

1.2	Elect Director Nolan D. Archibald	Mgmt	For	For	For

1.3	Elect Director David B. Burritt	Mgmt	For	For	For

1.4	Elect Director Bruce A. Carlson	Mgmt	For	For	For

1.5	Elect Director James O. Ellis, Jr.	Mgmt	For	For	For

1.6	Elect Director Thomas J. Falk	Mgmt	For	For	For

1.7	Elect Director Ilene S. Gordon	Mgmt	For	For	For

1.8	Elect Director Marillyn A. Hewson	Mgmt	For	For	For

1.9	Elect Director Jeh C. Johnson	Mgmt	For	For	For

1.10	Elect Director Joseph W. Ralston	Mgmt	For	For	For

1.11	Elect Director James D. Taiclet, Jr.	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Amend Non-Employee Director Omnibus Stock Plan	Mgmt	For	Refer	For

4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

5	Provide Right to Act by Written Consent	SH	Against	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Texas Instruments Incorporated


Meeting Date:	04/26/2018	Country:	USA	Primary Security ID:	882508104

Record Date:	02/26/2018	Meeting Type:	Annual	Ticker:	TXN

		Shares Voted:	105,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Ralph W. Babb, Jr.	Mgmt	For	For	For

1b	Elect Director Mark A. Blinn	Mgmt	For	For	For

1c	Elect Director Todd M. Bluedorn	Mgmt	For	For	For

1d	Elect Director Daniel A. Carp	Mgmt	For	For	For

1e	Elect Director Janet F. Clark	Mgmt	For	For	For

1f	Elect Director Carrie S. Cox	Mgmt	For	For	For

1g	Elect Director Brian T. Crutcher	Mgmt	For	For	For

1h	Elect Director Jean M. Hobby	Mgmt	For	For	For

1i	Elect Director Ronald Kirk	Mgmt	For	For	For

1j	Elect Director Pamela H. Patsley	Mgmt	For	For	For

1k	Elect Director Robert E. Sanchez	Mgmt	For	For	For

1l	Elect Director Richard K. Templeton	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Approve Non-Employee Director Omnibus Stock Plan	Mgmt	For	Refer	For

4	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Kellogg Company


Meeting Date:	04/27/2018	Country:	USA	Primary Security ID:	487836108

Record Date:	02/28/2018	Meeting Type:	Annual	Ticker:	K

		Shares Voted:	210,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Carter Cast	Mgmt	For	For	For

1.2	Elect Director Zachary Gund	Mgmt	For	For	For

1.3	Elect Director Jim Jenness	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Kellogg Company


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.4	Elect Director Don Knauss	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

Incyte Corporation


Meeting Date:	05/01/2018	Country:	USA	Primary Security ID:	45337C102

Record Date:	03/05/2018	Meeting Type:	Annual	Ticker:	INCY

		Shares Voted:	107,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Julian C. Baker	Mgmt	For	For	For

1.2	Elect Director Jean-Jacques Bienaime	Mgmt	For	For	For

1.3	Elect Director Paul A. Brooke	Mgmt	For	For	For

1.4	Elect Director Paul J. Clancy	Mgmt	For	For	For

1.5	Elect Director Wendy L. Dixon	Mgmt	For	For	For

1.6	Elect Director Jacqualyn A. Fouse	Mgmt	For	For	For

1.7	Elect Director Paul A. Friedman	Mgmt	For	For	For

1.8	Elect Director Herve Hoppenot	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Amend Omnibus Stock Plan	Mgmt	For	For	For

4	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

PACCAR Inc


Meeting Date:	05/01/2018	Country:	USA	Primary Security ID:	693718108

Record Date:	03/07/2018	Meeting Type:	Annual	Ticker:	PCAR

		Shares Voted:	165,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Beth E. Ford	Mgmt	For	For	For

1.2	Elect Director Kirk S. Hachigian	Mgmt	For	For	For

1.3	Elect Director Roderick C. McGeary	Mgmt	For	Refer	Against

1.4	Elect Director Mark A. Schulz	Mgmt	For	Refer	Against

1.5	Elect Director Mark C. Pigott	Mgmt	For	For	For

1.6	Elect Director Charles R. Williamson	Mgmt	For	Refer	Against

1.7	Elect Director Ronald E. Armstrong	Mgmt	For	For	For

2	Eliminate Supermajority Vote Requirement to Remove Directors	Mgmt	For	For	For

3	Reduce Ownership Threshold for Shareholders to Call Special Meeting	SH	Against	For	For

Allergan plc


Meeting Date:	05/02/2018	Country:	Ireland	Primary Security ID:	G0177J108

Record Date:	03/06/2018	Meeting Type:	Annual	Ticker:	AGN

		Shares Voted:	75,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Nesli Basgoz	Mgmt	For	For	For

1b	Elect Director Paul M. Bisaro	Mgmt	For	For	For

1c	Elect Director Joseph H. Boccuzi	Mgmt	For	For	For

1d	Elect Director Christopher W. Bodine	Mgmt	For	For	For

1e	Elect Director Adriane M. Brown	Mgmt	For	For	For

1f	Elect Director Christopher J. Coughlin	Mgmt	For	For	For

1g	Elect Director Carol Anthony ‘John’ Davidson	Mgmt	For	For	For

1h	Elect Director Catherine M. Klema	Mgmt	For	For	For

1i	Elect Director Peter J. McDonnell	Mgmt	For	For	For

1j	Elect Director Patrick J. O’Sullivan	Mgmt	For	For	For

1k	Elect Director Brenton L. Saunders	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Allergan plc


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1l	Elect Director Fred G. Weiss	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Approve PricewaterhouseCoopers LLP as Auditors and Authorize Board to Fix Their Remuneration	Mgmt	For	For	For

4	Authorize Issue of Equity with Pre-emptive Rights	Mgmt	For	For	For

5A	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights	Mgmt	For	For	For

5B	Authorize Issuance of Equity or Equity-Linked Securities without Preemptive Rights	Mgmt	For	For	For

6	Require Independent Board Chairman	SH	Against	Refer	For

PepsiCo, Inc.


Meeting Date:	05/02/2018	Country:	USA	Primary Security ID:	713448108

Record Date:	03/01/2018	Meeting Type:	Annual	Ticker:	PEP

		Shares Voted:	210,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Shona L. Brown	Mgmt	For	For	For

1b	Elect Director George W. Buckley	Mgmt	For	For	For

1c	Elect Director Cesar Conde	Mgmt	For	For	For

1d	Elect Director Ian M. Cook	Mgmt	For	For	For

1e	Elect Director Dina Dublon	Mgmt	For	For	For

1f	Elect Director Richard W. Fisher	Mgmt	For	For	For

1g	Elect Director William R. Johnson	Mgmt	For	For	For

1h	Elect Director Indra K. Nooyi	Mgmt	For	For	For

1i	Elect Director David C. Page	Mgmt	For	For	For

1j	Elect Director Robert C. Pohlad	Mgmt	For	For	For

1k	Elect Director Daniel Vasella	Mgmt	For	For	For

1l	Elect Director Darren Walker	Mgmt	For	For	For

1m	Elect Director Alberto Weisser	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

PepsiCo, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Reduce Ownership Threshold for Shareholders to Call Special Meeting	SH	Against	For	For

Stryker Corporation


Meeting Date:	05/02/2018	Country:	USA	Primary Security ID:	863667101

Record Date:	03/05/2018	Meeting Type:	Annual	Ticker:	SYK

		Shares Voted:	105,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Mary K. Brainerd	Mgmt	For	For	For

1b	Elect Director Srikant M. Datar	Mgmt	For	For	For

1c	Elect Director Roch Doliveux	Mgmt	For	For	For

1d	Elect Director Louise L. Francesconi	Mgmt	For	For	For

1e	Elect Director Allan C. Golston	Mgmt	For	For	For

1f	Elect Director Kevin A. Lobo	Mgmt	For	For	For

1g	Elect Director Sherilyn S. McCoy	Mgmt	For	For	For

1h	Elect Director Andrew K. Silvernail	Mgmt	For	For	For

1i	Elect Director Ronda E. Stryker	Mgmt	For	For	For

1j	Elect Director Rajeev Suri	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

The Hershey Company


Meeting Date:	05/02/2018	Country:	USA	Primary Security ID:	427866108

Record Date:	03/05/2018	Meeting Type:	Annual	Ticker:	HSY

		Shares Voted:	135,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Pamela M. Arway	Mgmt	For	For	For

1.2	Elect Director James W. Brown	Mgmt	For	For	For

1.3	Elect Director Michele G. Buck	Mgmt	For	For	For

1.4	Elect Director Charles A. Davis	Mgmt	For	For	For

1.5	Elect Director Mary Kay Haben	Mgmt	For	For	For

1.6	Elect Director James C. Katzman	Mgmt	For	For	For

1.7	Elect Director M. Diane Koken	Mgmt	For	For	For

1.8	Elect Director Robert M. Malcolm	Mgmt	For	For	For

1.9	Elect Director Anthony J. Palmer	Mgmt	For	For	For

1.10	Elect Director Wendy L. Schoppert	Mgmt	For	For	For

1.11	Elect Director David L. Shedlarz	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Duke Energy Corporation


Meeting Date:	05/03/2018	Country:	USA	Primary Security ID:	26441C204

Record Date:	03/09/2018	Meeting Type:	Annual	Ticker:	DUK

		Shares Voted:	165,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Michael G. Browning	Mgmt	For	For	For

1.2	Elect Director Theodore F. Craver, Jr.	Mgmt	For	For	For

1.3	Elect Director Robert M. Davis	Mgmt	For	For	For

1.4	Elect Director Daniel R. DiMicco	Mgmt	For	For	For

1.5	Elect Director John H. Forsgren	Mgmt	For	For	For

1.6	Elect Director Lynn J. Good	Mgmt	For	For	For

1.7	Elect Director John T. Herron	Mgmt	For	For	For

1.8	Elect Director James B. Hyler, Jr.	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Duke Energy Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.9	Elect Director William E. Kennard	Mgmt	For	For	For

1.10	Elect Director E. Marie McKee	Mgmt	For	For	For

1.11	Elect Director Charles W. Moorman, IV	Mgmt	For	For	For

1.12	Elect Director Carlos A. Saladrigas	Mgmt	For	For	For

1.13	Elect Director Thomas E. Skains	Mgmt	For	For	For

1.14	Elect Director William E. Webster, Jr.	Mgmt	For	For	For

2	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Eliminate Supermajority Vote Requirement	Mgmt	For	For	For

5	Report on Benefits of Lobbying	SH	Against	Against	Against

US Foods Holding Corp.


Meeting Date:	05/04/2018	Country:	USA	Primary Security ID:	912008109

Record Date:	03/09/2018	Meeting Type:	Annual	Ticker:	USFD

		Shares Voted:	250,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1A	Elect Director John A. Lederer	Mgmt	For	For	For

1B	Elect Director Carl Andrew Pforzheimer	Mgmt	For	Refer	Against

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Amend Qualified Employee Stock Purchase Plan	Mgmt	For	For	For

4	Remove Supermajority Vote Requirement	Mgmt	For	For	For

5	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Alexion Pharmaceuticals, Inc.


Meeting Date:	05/08/2018	Country:	USA	Primary Security ID:	015351109

Record Date:	03/12/2018	Meeting Type:	Annual	Ticker:	ALXN

		Shares Voted:	175,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Felix J. Baker	Mgmt	For	For	For

1.2	Elect Director David R. Brennan	Mgmt	For	For	For

1.3	Elect Director Christopher J. Coughlin	Mgmt	For	For	For

1.4	Elect Director Deborah Dunsire	Mgmt	For	For	For

1.5	Elect Director Paul Friedman	Mgmt	For	For	For

1.6	Elect Director Ludwig N. Hantson	Mgmt	For	For	For

1.7	Elect Director John T. Mollen	Mgmt	For	For	For

1.8	Elect Director Francois Nader	Mgmt	For	For	For

1.9	Elect Director Judith Reinsdorf	Mgmt	For	For	For

1.10	Elect Director Andreas Rummelt	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Require Independent Board Chairman	SH	Against	Refer	For

Gilead Sciences, Inc.


Meeting Date:	05/09/2018	Country:	USA	Primary Security ID:	375558103

Record Date:	03/16/2018	Meeting Type:	Annual	Ticker:	GILD

		Shares Voted:	340,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director John F. Cogan	Mgmt	For	For	For

1b	Elect Director Jacqueline K. Barton	Mgmt	For	For	For

1c	Elect Director Kelly A. Kramer	Mgmt	For	For	For

1d	Elect Director Kevin E. Lofton	Mgmt	For	For	For

1e	Elect Director John C. Martin	Mgmt	For	For	For

1f	Elect Director John F. Milligan	Mgmt	For	For	For

1g	Elect Director Richard J. Whitley	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Gilead Sciences, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1h	Elect Director Gayle E. Wilson	Mgmt	For	For	For

1i	Elect Director Per Wold-Olsen	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Require Independent Board Chairman	SH	Against	Refer	For

5	Provide Right to Act by Written Consent	SH	Against	For	For

Under Armour, Inc.


Meeting Date:	05/09/2018	Country:	USA	Primary Security ID:	904311107

Record Date:	02/23/2018	Meeting Type:	Annual	Ticker:	UAA

		Shares Voted:	820,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Kevin A. Plank	Mgmt	For	For	For

1.2	Elect Director George W. Bodenheimer	Mgmt	For	For	For

1.3	Elect Director Douglas E. Coltharp	Mgmt	For	For	For

1.4	Elect Director Jerri L. DeVard	Mgmt	For	For	For

1.5	Elect Director Karen W. Katz	Mgmt	For	Refer	Withhold

1.6	Elect Director A.B. Krongard	Mgmt	For	For	For

1.7	Elect Director William R. McDermott	Mgmt	For	Refer	Withhold

1.8	Elect Director Eric T. Olson	Mgmt	For	Refer	Withhold

1.9	Elect Director Harvey L. Sanders	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Air Transport Services Group, Inc.


Meeting Date:	05/10/2018	Country:	USA	Primary Security ID:	00922R105

Record Date:	03/15/2018	Meeting Type:	Annual	Ticker:	ATSG

		Shares Voted:	130,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Richard M. Baudouin	Mgmt	For	For	For

1b	Elect Director Raymond E. Johns, Jr.	Mgmt	For	For	For

1c	Elect Director Joseph C. Hete	Mgmt	For	For	For

1d	Elect Director Randy D. Rademacher	Mgmt	For	For	For

1e	Elect Director J. Christopher Teets	Mgmt	For	For	For

1f	Elect Director Jeffrey J. Vorholt	Mgmt	For	For	For

2	Approve Increase in Size of Board	Mgmt	For	Refer	For

3	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

4	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

5	Increase Authorized Common Stock	Mgmt	For	For	For

6	Eliminate Supermajority Vote Requirement	Mgmt	For	For	For

7	Adjourn Meeting	Mgmt	For	For	For

Tactile Systems Technology, Inc.


Meeting Date:	05/10/2018	Country:	USA	Primary Security ID:	87357P100

Record Date:	03/14/2018	Meeting Type:	Annual	Ticker:	TCMD

		Shares Voted:	270,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director William W. Burke	Mgmt	For	For	For

1.2	Elect Director Raymond O. Huggenberger	Mgmt	For	For	For

1.3	Elect Director Gerald R. Mattys	Mgmt	For	For	For

1.4	Elect Director Richard J. Nigon	Mgmt	For	Refer	Withhold

1.5	Elect Director Cheryl Pegus	Mgmt	For	For	For

1.6	Elect Director Kevin H. Roche	Mgmt	For	For	For

1.7	Elect Director Peter H. Soderberg	Mgmt	For	Refer	Withhold

2	Ratify Grant Thornton LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Yum China Holdings, Inc.


Meeting Date:	05/11/2018	Country:	USA	Primary Security ID:	98850P109

Record Date:	03/13/2018	Meeting Type:	Annual	Ticker:	YUMC

		Shares Voted:	390,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Louis T. Hsieh	Mgmt	For	For	For

1b	Elect Director Jonathan S. Linen	Mgmt	For	For	For

1c	Elect Director Micky Pant	Mgmt	For	For	For

1d	Elect Director William Wang	Mgmt	For	For	For

2	Ratify KPMG Huazhen LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

ConocoPhillips


Meeting Date:	05/15/2018	Country:	USA	Primary Security ID:	20825C104

Record Date:	03/19/2018	Meeting Type:	Annual	Ticker:	COP

		Shares Voted:	300,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Charles E. Bunch	Mgmt	For	For	For

1b	Elect Director Caroline Maury Devine	Mgmt	For	For	For

1c	Elect Director John V. Faraci	Mgmt	For	For	For

1d	Elect Director Jody Freeman	Mgmt	For	For	For

1e	Elect Director Gay Huey Evans	Mgmt	For	For	For

1f	Elect Director Ryan M. Lance	Mgmt	For	For	For

1g	Elect Director Sharmila Mulligan	Mgmt	For	For	For

1h	Elect Director Arjun N. Murti	Mgmt	For	For	For

1i	Elect Director Robert A. Niblock	Mgmt	For	For	For

1j	Elect Director Harald J. Norvik	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

ConocoPhillips


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

4	Use GAAP for Executive Compensation Metrics	SH	Against	Against	Against

First Republic Bank


Meeting Date:	05/15/2018	Country:	USA	Primary Security ID:	33616C100

Record Date:	03/16/2018	Meeting Type:	Annual	Ticker:	FRC

		Shares Voted:	40,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director James H. Herbert, II	Mgmt	For	For	For

1.2	Elect Director Katherine August-deWilde	Mgmt	For	For	For

1.3	Elect Director Thomas J. Barrack, Jr.	Mgmt	For	For	For

1.4	Elect Director Frank J. Fahrenkopf, Jr.	Mgmt	For	For	For

1.5	Elect Director L. Martin Gibbs	Mgmt	For	For	For

1.6	Elect Director Boris Groysberg	Mgmt	For	For	For

1.7	Elect Director Sandra R. Hernandez	Mgmt	For	For	For

1.8	Elect Director Pamela J. Joyner	Mgmt	For	For	For

1.9	Elect Director Reynold Levy	Mgmt	For	For	For

1.10	Elect Director Duncan L. Niederauer	Mgmt	For	For	For

11	Elect Director George G.C. Parker	Mgmt	For	For	For

1.12	Elect Director Cheryl Spielman	Mgmt	For	For	For

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Prepare Employment Diversity Report and Report on Diversity Policies	SH	Against	Against	Against

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

JPMorgan Chase & Co.


Meeting Date:	05/15/2018	Country:	USA	Primary Security ID:	46625H100

Record Date:	03/16/2018	Meeting Type:	Annual	Ticker:	JPM

		Shares Voted:	240,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Linda B. Bammann	Mgmt	For	For	For

1b	Elect Director James A. Bell	Mgmt	For	For	For

1c	Elect Director Stephen B. Burke	Mgmt	For	For	For

1d	Elect Director Todd A. Combs	Mgmt	For	For	For

1e	Elect Director James S. Crown	Mgmt	For	For	For

1f	Elect Director James Dimon	Mgmt	For	For	For

1g	Elect Director Timothy P. Flynn	Mgmt	For	For	For

1h	Elect Director Mellody Hobson	Mgmt	For	For	For

1i	Elect Director Laban P. Jackson, Jr.	Mgmt	For	For	For

1j	Elect Director Michael A. Neal	Mgmt	For	For	For

1k	Elect Director Lee R. Raymond	Mgmt	For	For	For

1l	Elect Director William C. Weldon	Mgmt	For	For	For

2	Ratify Existing Ownership Threshold for Shareholders to Call Special Meeting	Mgmt	For	Against	Against

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Amend Omnibus Stock Plan	Mgmt	For	For	For

5	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

6	Require Independent Board Chairman	SH	Against	Refer	Against

7	Prohibit Accelerated Vesting of Awards to Pursue Government Service	SH	Against	Refer	For

8	Institute Procedures to Prevent Investments in Companies that Contribute to Genocide or Crimes Against Humanity	SH	Against	Against	Against

9	Restore or Provide for Cumulative Voting	SH	Against	Against	Against

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Westinghouse Air Brake Technologies Corporation


Meeting Date:	05/15/2018	Country:	USA	Primary Security ID:	929740108

Record Date:	03/21/2018	Meeting Type:	Annual	Ticker:	WAB

		Shares Voted:	170,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Erwan Faiveley	Mgmt	For	For	For

1.2	Elect Director Linda S. Harty	Mgmt	For	For	For

1.3	Elect Director Brian P. Hehir	Mgmt	For	For	For

1.4	Elect Director Michael W.D. Howell	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Zimmer Biomet Holdings, Inc.


Meeting Date:	05/15/2018	Country:	USA	Primary Security ID:	98956P102

Record Date:	03/16/2018	Meeting Type:	Annual	Ticker:	ZBH

		Shares Voted:	130,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Christopher B. Begley	Mgmt	For	For	For

1b	Elect Director Betsy J. Bernard	Mgmt	For	For	For

1c	Elect Director Gail K. Boudreaux	Mgmt	For	For	For

1d	Elect Director Michael J. Farrell	Mgmt	For	For	For

1e	Elect Director Larry C. Glasscock	Mgmt	For	For	For

1f	Elect Director Robert A. Hagemann	Mgmt	For	For	For

1g	Elect Director Bryan C. Hanson	Mgmt	For	For	For

1h	Elect Director Arthur J. Higgins	Mgmt	For	For	For

1i	Elect Director Michael W. Michelson	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Align Technology, Inc.


Meeting Date:	05/16/2018	Country:	USA	Primary Security ID:	016255101

Record Date:	03/21/2018	Meeting Type:	Annual	Ticker:	ALGN

		Shares Voted:	58,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Kevin J. Dallas	Mgmt	For	For	For

1.2	Elect Director Joseph M. Hogan	Mgmt	For	For	For

1.3	Elect Director Joseph Lacob	Mgmt	For	For	For

1.4	Elect Director C. Raymond Larkin, Jr.	Mgmt	For	For	For

1.5	Elect Director George J. Morrow	Mgmt	For	For	For

1.6	Elect Director Thomas M. Prescott	Mgmt	For	For	For

1.7	Elect Director Andrea L. Saia	Mgmt	For	For	For

1.8	Elect Director Greg J. Santora	Mgmt	For	For	For

1.9	Elect Director Susan E. Siegel	Mgmt	For	For	For

1.10	Elect Director Warren S. Thaler	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Halliburton Company


Meeting Date:	05/16/2018	Country:	USA	Primary Security ID:	406216101

Record Date:	03/19/2018	Meeting Type:	Annual	Ticker:	HAL

		Shares Voted:	500,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Abdulaziz F. Al Khayyal	Mgmt	For	For	For

1b	Elect Director William E. Albrecht	Mgmt	For	For	For

1c	Elect Director Alan M. Bennett	Mgmt	For	For	For

1d	Elect Director James R. Boyd	Mgmt	For	For	For

1e	Elect Director Milton Carroll	Mgmt	For	For	For

1f	Elect Director Nance K. Dicciani	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Halliburton Company


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1g	Elect Director Murry S. Gerber	Mgmt	For	For	For

1h	Elect Director Jose C. Grubisich	Mgmt	For	For	For

1i	Elect Director David J. Lesar	Mgmt	For	For	For

1j	Elect Director Robert A. Malone	Mgmt	For	For	For

1k	Elect Director Jeffrey A. Miller	Mgmt	For	For	For

1l	Elect Director Debra L. Reed	Mgmt	For	For	For

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Mondelez International, Inc.


Meeting Date:	05/16/2018	Country:	USA	Primary Security ID:	609207105

Record Date:	03/12/2018	Meeting Type:	Annual	Ticker:	MDLZ

		Shares Voted:	475,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Lewis W.K. Booth	Mgmt	For	For	For

1b	Elect Director Charles E. Bunch	Mgmt	For	For	For

1c	Elect Director Debra A. Crew	Mgmt	For	For	For

1d	Elect Director Lois D. Juliber	Mgmt	For	For	For

1e	Elect Director Mark D. Ketchum	Mgmt	For	For	For

1f	Elect Director Peter W. May	Mgmt	For	For	For

1g	Elect Director Jorge S. Mesquita	Mgmt	For	For	For

1h	Elect Director Joseph Neubauer	Mgmt	For	For	For

1i	Elect Director Fredric G. Reynolds	Mgmt	For	For	For

1j	Elect Director Christiana S. Shi	Mgmt	For	For	For

1k	Elect Director Patrick T. Siewert	Mgmt	For	For	For

1l	Elect Director Jean-Francois M. L. van Boxmeer	Mgmt	For	For	For

1m	Elect Director Dirk Van de Put	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Mondelez International, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

4	Assess Environmental Impact of Non-Recyclable Packaging	SH	Against	Refer	Against

5	Create a Committee to Prepare a Report Regarding the Impact of Plant Closures on Communities	SH	Against	Refer	Against

Northrop Grumman Corporation


Meeting Date:	05/16/2018	Country:	USA	Primary Security ID:	666807102

Record Date:	03/20/2018	Meeting Type:	Annual	Ticker:	NOC

		Shares Voted:	45,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Wesley G. Bush	Mgmt	For	For	For

1.2	Elect Director Marianne C. Brown	Mgmt	For	For	For

1.3	Elect Director Donald E. Felsinger	Mgmt	For	For	For

1.4	Elect Director Ann M. Fudge	Mgmt	For	For	For

1.5	Elect Director Bruce S. Gordon	Mgmt	For	For	For

1.6	Elect Director William H. Hernandez	Mgmt	For	For	For

1.7	Elect Director Madeleine A. Kleiner	Mgmt	For	For	For

1.8	Elect Director Karl J. Krapek	Mgmt	For	For	For

1.9	Elect Director Gary Roughead	Mgmt	For	For	For

1.10	Elect Director Thomas M. Schoewe	Mgmt	For	For	For

1.11	Elect Director James S. Turley	Mgmt	For	For	For

1.12	Elect Director Mark A. Welsh, III	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

4	Reduce Ownership Threshold for Shareholders to Call Special Meeting	SH	Against	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Wynn Resorts, Limited


Meeting Date:	05/16/2018	Country:	USA	Primary Security ID:	983134107

Record Date:	03/19/2018	Meeting Type:	Proxy Contest	Ticker:	WYNN

		Shares Voted:	55,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

	Management Proxy	Mgmt

1.1	Elect Director Betsy Atkins	Mgmt	For	Refer	For

1.2	Elect Director John J. Hagenbuch	Mgmt	For	Refer	Withhold

1.3	Elect Director Patricia Mulroy	Mgmt	For	Refer	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	Refer	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	Refer	Against

4	Report on Political Contributions	SH	Against	Refer	For

	Dissident Proxy (Blue Card)	Mgmt

1.1	Management Nominee Betsy Atkins	SH	None	Refer	Do Not Vote

1.2	Management Nominee John J. Hagenbuch	SH	Withhold	Refer	Do Not Vote

1.3	Management Nominee Patricia Mulroy	SH	None	Refer	Do Not Vote

2	Ratify Ernst & Young LLP as Auditors	Mgmt	None	Refer	Do Not Vote

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	None	Refer	Do Not Vote

4	Report on Political Contributions	SH	None	Refer	Do Not Vote

Altria Group, Inc.


Meeting Date:	05/17/2018	Country:	USA	Primary Security ID:	02209S103

Record Date:	03/26/2018	Meeting Type:	Annual	Ticker:	MO

		Shares Voted:	250,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director John T. Casteen, III	Mgmt	For	For	For

1.2	Elect Director Dinyar S. Devitre	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Altria Group, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.3	Elect Director Thomas F. Farrell, II	Mgmt	For	For	For

1.4	Elect Director Debra J. Kelly-Ennis	Mgmt	For	For	For

1.5	Elect Director W. Leo Kiely, III	Mgmt	For	For	For

1.6	Elect Director Kathryn B. McQuade	Mgmt	For	For	For

1.7	Elect Director George Munoz	Mgmt	For	For	For

1.8	Elect Director Mark E. Newman	Mgmt	For	For	For

1.9	Elect Director Nabil Y. Sakkab	Mgmt	For	For	For

1.10	Elect Director Virginia E. Shanks	Mgmt	For	For	For

1.11	Elect Director Howard A. Willard, III	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Reduce Nicotine Levels in Tobacco Products	SH	Against	Refer	Against

Intel Corporation


Meeting Date:	05/17/2018	Country:	USA	Primary Security ID:	458140100

Record Date:	03/19/2018	Meeting Type:	Annual	Ticker:	INTC

		Shares Voted:	530,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Aneel Bhusri	Mgmt	For	For	For

1b	Elect Director Andy D. Bryant	Mgmt	For	For	For

1c	Elect Director Reed E. Hundt	Mgmt	For	For	For

1d	Elect Director Omar Ishrak	Mgmt	For	For	For

1e	Elect Director Brian M. Krzanich	Mgmt	For	For	For

1f	Elect Director Risa Lavizzo-Mourey	Mgmt	For	For	For

1g	Elect Director Tsu-Jae King Liu	Mgmt	For	For	For

1h	Elect Director Gregory D. Smith	Mgmt	For	For	For

1i	Elect Director Andrew Wilson	Mgmt	For	For	For

1j	Elect Director Frank D. Yeary	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Intel Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Provide Right to Act by Written Consent	SH	Against	For	For

5	Require Independent Board Chairman	SH	Against	Refer	For

6	Report on Costs and Benefits of Poltical Contributions	SH	Against	Against	Against

Kansas City Southern


Meeting Date:	05/17/2018	Country:	USA	Primary Security ID:	485170302

Record Date:	03/19/2018	Meeting Type:	Annual	Ticker:	KSU

		Shares Voted:	180,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Lydia I. Beebe	Mgmt	For	For	For

1.2	Elect Director Lu M. Cordova	Mgmt	For	For	For

1.3	Elect Director Robert J. Druten	Mgmt	For	For	For

1.4	Elect Director Terrence P. Dunn	Mgmt	For	For	For

1.5	Elect Director Antonio O. Garza, Jr.	Mgmt	For	For	For

1.6	Elect Director David Garza-Santos	Mgmt	For	For	For

1.7	Elect Director Janet H. Kennedy	Mgmt	For	For	For

1.8	Elect Director Mitchell J. Krebs	Mgmt	For	For	For

1.9	Elect Director Henry J. Maier	Mgmt	For	For	For

1.10	Elect Director Thomas A. McDonnell	Mgmt	For	For	For

1.11	Elect Director Patrick J. Ottensmeyer	Mgmt	For	For	For

1.12	Elect Director Rodney E. Slater	Mgmt	For	For	For

2	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Provide Right to Act by Written Consent	SH	Against	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Pioneer Natural Resources Company


Meeting Date:	05/17/2018	Country:	USA	Primary Security ID:	723787107

Record Date:	03/22/2018	Meeting Type:	Annual	Ticker:	PXD

		Shares Voted:	100,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Edison C. Buchanan	Mgmt	For	For	For

1.2	Elect Director Andrew F. Cates	Mgmt	For	For	For

1.3	Elect Director Timothy L. Dove	Mgmt	For	For	For

1.4	Elect Director Phillip A. Gobe	Mgmt	For	For	For

1.5	Elect Director Larry R. Grillot	Mgmt	For	For	For

1.6	Elect Director Stacy P. Methvin	Mgmt	For	For	For

1.7	Elect Director Royce W. Mitchell	Mgmt	For	For	For

1.8	Elect Director Frank A. Risch	Mgmt	For	For	For

1.9	Elect Director Scott D. Sheffield	Mgmt	For	For	For

1.10	Elect Director Mona K. Sutphen	Mgmt	For	For	For

1.11	Elect Director J. Kenneth Thompson	Mgmt	For	For	For

1.12	Elect Director Phoebe A. Wood	Mgmt	For	For	For

1.13	Elect Director Michael D. Wortley	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

XPO Logistics, Inc.


Meeting Date:	05/17/2018	Country:	USA	Primary Security ID:	983793100

Record Date:	04/06/2018	Meeting Type:	Annual	Ticker:	XPO

		Shares Voted:	185,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Bradley S. Jacobs	Mgmt	For	For	For

1.2	Elect Director Gena L. Ashe	Mgmt	For	For	For

1.3	Elect Director AnnaMaria DeSalva	Mgmt	For	For	For

1.4	Elect Director Michael G. Jesselson	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

XPO Logistics, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.5	Elect Director Adrian P. Kingshott	Mgmt	For	For	For

1.6	Elect Director Jason D. Papastavrou	Mgmt	For	For	For

1.7	Elect Director Oren G. Shaffer	Mgmt	For	For	For

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

5	Report on Sustainability	SH	Against	Refer	Against

6	Clawback of Incentive Payments	SH	Against	For	For

Ellie Mae, Inc.


Meeting Date:	05/18/2018	Country:	USA	Primary Security ID:	28849P100

Record Date:	03/21/2018	Meeting Type:	Annual	Ticker:	ELLI

		Shares Voted:	132,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Sigmund Anderman	Mgmt	For	For	For

1.2	Elect Director Craig Davis	Mgmt	For	For	For

1.3	Elect Director Rajat Taneja	Mgmt	For	For	For

2	Ratify Grant Thornton LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

5	Declassify the Board of Directors	Mgmt	For	For	For

6	Reduce Ownership Threshold for Shareholders to Call Special Meeting	SH	Against	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Chipotle Mexican Grill, Inc.


Meeting Date:	05/22/2018	Country:	USA	Primary Security ID:	169656105

Record Date:	03/23/2018	Meeting Type:	Annual	Ticker:	CMG

		Shares Voted:	45,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Albert S. Baldocchi	Mgmt	For	For	For

1.2	Elect Director Paul T. Cappuccio	Mgmt	For	For	For

1.3	Elect Director Steve Ells	Mgmt	For	For	For

1.4	Elect Director Neil W. Flanzraich	Mgmt	For	For	For

1.5	Elect Director Robin Hickenlooper	Mgmt	For	For	For

1.6	Elect Director Kimbal Musk	Mgmt	For	For	For

1.7	Elect Director Ali Namvar	Mgmt	For	For	For

1.8	Elect Director Brian Niccol	Mgmt	For	For	For

1.9	Elect Director Matthew H. Paull	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

4	Amend Omnibus Stock Plan	Mgmt	For	Refer	For

5	Provide Right to Act by Written Consent	SH	Against	For	For

McDonald’s Corporation


Meeting Date:	05/24/2018	Country:	USA	Primary Security ID:	580135101

Record Date:	03/26/2018	Meeting Type:	Annual	Ticker:	MCD

		Shares Voted:	190,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Lloyd Dean	Mgmt	For	For	For

1b	Elect Director Stephen Easterbrook	Mgmt	For	For	For

1c	Elect Director Robert Eckert	Mgmt	For	For	For

1d	Elect Director Margaret (Margo) Georgiadis	Mgmt	For	For	For

1e	Elect Director Enrique Hernandez, Jr.	Mgmt	For	For	For

1f	Elect Director Jeanne Jackson	Mgmt	For	For	For

1g	Elect Director Richard Lenny	Mgmt	For	For	For

1h	Elect Director John Mulligan	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

McDonald’s Corporation


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1i	Elect Director Sheila Penrose	Mgmt	For	For	For

1j	Elect Director John Rogers, Jr.	Mgmt	For	For	For

1k	Elect Director Miles White	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

4	Provide Right to Act by Written Consent	SH	Against	For	For

5	Report on Plastic Straws	SH	Against	Refer	Against

6	Report on Charitable Contributions	SH	Against	Against	Against

WABCO Holdings Inc.


Meeting Date:	05/24/2018	Country:	USA	Primary Security ID:	92927K102

Record Date:	03/29/2018	Meeting Type:	Annual	Ticker:	WBC

		Shares Voted:	137,500


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Jean-Paul L. Montupet	Mgmt	For	For	For

1.2	Elect Director D. Nick Reilly	Mgmt	For	For	For

1.3	Elect Director Michael T. Smith	Mgmt	For	For	For

2	Ratify Ernst & Young Bedrijfsrevisoren BCVBA/Reviseurs d’Entreprises SCCRL as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Amend Omnibus Stock Plan	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Arista Networks, Inc.


Meeting Date:	05/29/2018	Country:	USA	Primary Security ID:	040413106

Record Date:	04/04/2018	Meeting Type:	Annual	Ticker:	ANET

		Shares Voted:	39,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Andreas Bechtolsheim	Mgmt	For	Refer	Withhold

1.2	Elect Director Jayshree Ullal	Mgmt	For	Refer	Withhold

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

DexCom, Inc.


Meeting Date:	05/31/2018	Country:	USA	Primary Security ID:	252131107

Record Date:	04/03/2018	Meeting Type:	Annual	Ticker:	DXCM

		Shares Voted:	215,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Terrance H. Gregg	Mgmt	For	For	For

1b	Elect Director Kevin Sayer	Mgmt	For	For	For

1c	Elect Director Nicholas (Nick) Augustinos	Mgmt	For	For	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Teladoc, Inc.


Meeting Date:	05/31/2018	Country:	USA	Primary Security ID:	87918A105

Record Date:	04/06/2018	Meeting Type:	Annual	Ticker:	TDOC

		Shares Voted:	410,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1	Increase Authorized Common Stock	Mgmt	For	For	For

2.1	Elect Director Helen Darling	Mgmt	For	For	For

2.2	Elect Director William H. Frist	Mgmt	For	For	For

2.3	Elect Director Michael Goldstein	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Teladoc, Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

2.4	Elect Director Jason Gorevic	Mgmt	For	For	For

2.5	Elect Director Brian McAndrews	Mgmt	For	For	For

2.6	Elect Director Thomas G. McKinley	Mgmt	For	For	For

2.7	Elect Director Arneek Multani	Mgmt	For	For	For

2.8	Elect Director Kenneth H. Paulus	Mgmt	For	For	For

2.9	Elect Director David Shedlarz	Mgmt	For	For	For

2.10	Elect Director David B. Snow, Jr.	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

5	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

BioMarin Pharmaceutical Inc.


Meeting Date:	06/05/2018	Country:	USA	Primary Security ID:	09061G101

Record Date:	04/09/2018	Meeting Type:	Annual	Ticker:	BMRN

		Shares Voted:	280,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Jean-Jacques Bienaime	Mgmt	For	For	For

1.2	Elect Director Willard Dere	Mgmt	For	For	For

1.3	Elect Director Michael Grey	Mgmt	For	For	For

1.4	Elect Director Elaine J. Heron	Mgmt	For	For	For

1.5	Elect Director Robert J. Hombach	Mgmt	For	For	For

1.6	Elect Director V. Bryan Lawlis	Mgmt	For	For	For

1.7	Elect Director Alan J. Lewis	Mgmt	For	For	For

1.8	Elect Director Richard A. Meier	Mgmt	For	For	For

1.9	Elect Director David E.I. Pyott	Mgmt	For	For	For

1.10	Elect Director Dennis J. Slamon	Mgmt	For	For	For

2	Ratify KPMG LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

ACADIA Pharmaceuticals Inc.


Meeting Date:	06/06/2018	Country:	USA	Primary Security ID:	004225108

Record Date:	04/13/2018	Meeting Type:	Annual	Ticker:	ACAD

		Shares Voted:	375,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Julian C. Baker	Mgmt	For	For	For

1.2	Elect Director Stephen R. Biggar	Mgmt	For	For	For

1.3	Elect Director Daniel Soland	Mgmt	For	For	For

2	Amend Omnibus Stock Plan	Mgmt	For	Refer	Against

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Penumbra, Inc.


Meeting Date:	06/06/2018	Country:	USA	Primary Security ID:	70975L107

Record Date:	04/11/2018	Meeting Type:	Annual	Ticker:	PEN

		Shares Voted:	80,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Adam Elsesser	Mgmt	For	Refer	Withhold

1.2	Elect Director Harpreet Grewal	Mgmt	For	Refer	Withhold

2	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

3	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

4	Approve Nonqualified Employee Stock Purchase Plan	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Western Alliance Bancorporation


Meeting Date:	06/12/2018	Country:	USA	Primary Security ID:	957638109

Record Date:	04/16/2018	Meeting Type:	Annual	Ticker:	WAL

		Shares Voted:	250,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Bruce Beach	Mgmt	For	For	For

1b	Elect Director William S. Boyd	Mgmt	For	For	For

1c	Elect Director Howard N. Gould	Mgmt	For	For	For

1d	Elect Director Steven J. Hilton	Mgmt	For	For	For

1e	Elect Director Marianne Boyd Johnson	Mgmt	For	For	For

1f	Elect Director Robert P. Latta	Mgmt	For	For	For

1g	Elect Director Cary Mack	Mgmt	For	For	For

1h	Elect Director Todd Marshall	Mgmt	For	For	For

1i	Elect Director James E. Nave	Mgmt	For	For	For

1j	Elect Director Michael Patriarca	Mgmt	For	For	For

1k	Elect Director Robert Gary Sarver	Mgmt	For	For	For

1l	Elect Director Donald D. Snyder	Mgmt	For	For	For

1m	Elect Director Sung Won Sohn	Mgmt	For	For	For

1n	Elect Director Kenneth A. Vecchione	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Advisory Vote on Say on Pay Frequency	Mgmt	One Year	One Year	One Year

4	Ratify RSM US LLP as Auditors	Mgmt	For	For	For

At Home Group Inc.


Meeting Date:	06/19/2018	Country:	USA	Primary Security ID:	04650Y100

Record Date:	04/20/2018	Meeting Type:	Annual	Ticker:	HOME

		Shares Voted:	230,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Wendy A. Beck	Mgmt	For	Refer	For

1.2	Elect Director Philip L. Francis	Mgmt	For	Refer	For

1.3	Elect Director Larry D. Stone	Mgmt	For	Refer	For

2	Ratify Ernst & Young LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

At Home Group Inc.


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

3	Amend Omnibus Stock Plan	Mgmt	For	Refer	For

ServiceNow, Inc.


Meeting Date:	06/19/2018	Country:	USA	Primary Security ID:	81762P102

Record Date:	04/20/2018	Meeting Type:	Annual	Ticker:	NOW

		Shares Voted:	45,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Susan L. Bostrom	Mgmt	For	For	For

1b	Elect Director Jonathan C. Chadwick	Mgmt	For	For	For

1c	Elect Director Frederic B. Luddy	Mgmt	For	For	For

1d	Elect Director Jeffrey A. Miller	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

4	Amend Omnibus Stock Plan	Mgmt	For	Refer	For

OrthoPediatrics Corp.


Meeting Date:	06/20/2018	Country:	USA	Primary Security ID:	68752L100

Record Date:	04/23/2018	Meeting Type:	Annual	Ticker:	KIDS

		Shares Voted:	125,152


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1.1	Elect Director Bernie B. Berry, III	Mgmt	For	Refer	For

1.2	Elect Director Stephen F. Burns	Mgmt	For	Refer	For

1.3	Elect Director Marie C. Infante	Mgmt	For	Refer	For

2	Ratify Deloitte & Touche LLP as Auditors	Mgmt	For	For	For

Vote Summary Report

Reporting Period: 07/01/2017 to 06/30/2018

Location(s): All Locations

Institution Account(s): 920 - Ivy Accumulative Fund

Mastercard Incorporated


Meeting Date:	06/26/2018	Country:	USA	Primary Security ID:	57636Q104

Record Date:	04/27/2018	Meeting Type:	Annual	Ticker:	MA

		Shares Voted:	95,000


Proposal Number	Proposal Text	Proponent	Mgmt Rec	Voting Policy Rec	Vote Instruction

1a	Elect Director Richard Haythornthwaite	Mgmt	For	For	For

1b	Elect Director Ajay Banga	Mgmt	For	For	For

1c	Elect Director Silvio Barzi	Mgmt	For	For	For

1d	Elect Director David R. Carlucci	Mgmt	For	For	For

1e	Elect Director Richard K. Davis	Mgmt	For	For	For

1f	Elect Director Steven J. Freiberg	Mgmt	For	For	For

1g	Elect Director Julius Genachowski	Mgmt	For	For	For

1h	Elect Director Choon Phong Goh	Mgmt	For	For	For

1i	Elect Director Merit E. Janow	Mgmt	For	For	For

1j	Elect Director Nancy Karch	Mgmt	For	For	For

1k	Elect Director Oki Matsumoto	Mgmt	For	For	For

1l	Elect Director Rima Qureshi	Mgmt	For	For	For

1m	Elect Director Jose Octavio Reyes Lagunes	Mgmt	For	For	For

1n	Elect Director Jackson Tai	Mgmt	For	For	For

2	Advisory Vote to Ratify Named Executive Officers’ Compensation	Mgmt	For	For	For

3	Ratify PricewaterhouseCoopers LLP as Auditors	Mgmt	For	For	For

IVY WILSHIRE GLOBAL ALLOCATION FUND

Proxy Voting Record

There was no proxy voting for Ivy Wilshire Global Allocation Fund, a series of the Registrant, for the period covered by this report, pursuant to Section 30 of the Investment Company Act of 1940, as amended, and Rule 30b1-4 thereunder.

SIGNATURES

Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


IVY FUNDS
(Registrant)

By:		/s/ Philip A. Shipp
		Philip A. Shipp, Assistant Secretary

Date: August 31, 2018

By:		/s/ Philip J. Sanders
		Philip J. Sanders, President and Principal Executive Officer

Date: August 31, 2018