I don’t think this isn’t true. If you buy VOO, you’re buying shares in a fund that owns shares of S&P 500 companies. The managers of that fund are free to exerc

I don’t think this isn’t true. If you buy VOO, you’re buying shares in a fund that owns shares of S&P 500 companies. The managers of that fund are free to exercise their voting rights however they please. The reason why Vanguard shouldn’t be considered an individual investor is because Vanguard has chosen to delegate its votes to the fund owners. This is just a choice, they could easily choose differently in the future.