[sokoloff]

Vanguard supports accounts that holds mutual funds (most of their focus/business) but also has accounts that can hold individual stocks.

In the individual stock case, Vanguard absolutely has to allow those share owners to vote their shares.

In the mutual fund case, Vanguard is the investor in the shares and Vanguard is the one who should cast the vote for those shares. End investors are invested in the mutual fund, and so could vote on mutual fund proxies, but IMO, should not be permitted to vote on the underlying shares that the mutual fund is invested in.

[kibibyte]

I completely forgot that Vanguard also runs a brokerage operation in addition to their funds.