UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANIES INVESTMENT COMPANY ACT FILE NUMBER: 811-2968 NAME OF REGISTRANT: VANGUARD TRUSTEES' EQUITY FUND ADDRESS OF REGISTRANT: PO BOX 2600, VALLEY FORGE, PA 19482 NAME AND ADDRESS OF AGENT FOR SERVICE: ANNE E. ROBINSON PO BOX 876 VALLEY FORGE, PA 19482 REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (610) 669-1000 DATE OF FISCAL YEAR END: OCTOBER 31 DATE OF REPORTING PERIOD: JULY 1, 2018 - JUNE 30, 2019 FUND: VANGUARD EMERGING MARKETS SELECT STOCK FUND --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ISSUER: Abu Dhabi Commercial Bank TICKER: ADCB CUSIP: M0152Q104 MEETING DATE: 3/21/2019 FOR/AGAINST PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT PROPOSAL #1: APPROVE BOARD REPORT ON COMPANY ISSUER YES FOR FOR OPERATIONS FOR FY 2018 PROPOSAL #2: APPROVE AUDITORS' REPORT ON COMPANY ISSUER YES FOR FOR FINANCIAL STATEMENTS FOR FY 2018 PROPOSAL #3: APPROVE SHARIAH SUPERVISORY BOARD REPORT ISSUER YES FOR FOR FOR FY 2018 PROPOSAL #4: ACCEPT FINANCIAL STATEMENTS AND ISSUER YES FOR FOR STATUTORY REPORTS FOR FY 2018 PROPOSAL #5: ELECT SHARIAH SUPERVISORY BOARD MEMBERS ISSUER YES FOR FOR (BUNDLED) PROPOSAL #6: APPROVE DIVIDENDS REPRESENTING 46 ISSUER YES FOR FOR PERCENT OF SHARE CAPITAL FOR FY 2018 PROPOSAL #7: APPROVE REMUNERATION OF DIRECTORS FOR FY ISSUER YES FOR FOR 2018 PROPOSAL #8: APPROVE DISCHARGE OF DIRECTORS FOR FY ISSUER YES FOR FOR 2018 PROPOSAL #9: APPROVE DISCHARGE OF AUDITORS FOR FY ISSUER YES FOR FOR 2018 PROPOSAL #10: ELECT DIRECTORS (BUNDLED) ISSUER YES FOR FOR PROPOSAL #1: APPROVE MERGER BY ABSORPTION OF UNION ISSUER YES FOR FOR NATIONAL BANK BY ABU DHABI COMMERCIAL BANK PROPOSAL #2: APPROVE MERGER AGREEMENT BETWEEN UNION ISSUER YES FOR FOR NATIONAL BANK AND ABU DHABI COMMERCIAL BANK PROPOSAL #3.a: INCREASE ISSUED CAPITAL FROM TO AED ISSUER YES FOR FOR 5.19 BILLION TO AED 6.83 BILLION PROPOSAL #3.b: AMEND ARTICLE 6(1) OF BYLAWS TO ISSUER YES FOR FOR REFLECT CHANGES IN CAPITAL PROPOSAL #3.c: APPROVE AMENDED ARTICLES OF ISSUER YES FOR FOR ASSOCIATION FOLLOWING MERGER PROPOSAL #4: ELECT DIRECTORS (BUNDLED) ISSUER YES FOR FOR PROPOSAL #5: APPROVE ISSUANCE OF MANDATORY ISSUER YES FOR FOR CONVERTIBLE BONDS IN CONNECTION WITH ACQUISITION OF PROPOSAL #6: RATIFY DELOITTE AS AUDITORS AND FIX ISSUER YES FOR FOR THEIR REMUNERATION FOR FY 2019 PROPOSAL #7: AUTHORIZE ISSUANCE OF TIER BONDS OR ISSUER YES FOR FOR TRUST CERTIFICATES UP TO USD 1 BILLION PROPOSAL #8: AUTHORIZE BOARD TO RATIFY AND EXECUTE ISSUER YES FOR FOR APPROVED RESOLUTIONS --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ISSUER: Abu Dhabi National Oil Co. for Distribution PJSC TICKER: ADNOCDIST CUSIP: M0153H103 MEETING DATE: 10/14/2018 FOR/AGAINST PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT PROPOSAL #1: APPROVE INTERIM DIVIDEND OF AED 0.058 ISSUER YES FOR FOR PER SHARE PROPOSAL #2: AUTHORIZE CHAIRMAN OR ANY DELEGATED ISSUER YES FOR FOR PERSON TO RATIFY AND EXECUTE APPROVED RESOLUTIONS --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ISSUER: AIA Group Limited TICKER: 1299 CUSIP: Y002A1105 MEETING DATE: 5/17/2019 FOR/AGAINST PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT PROPOSAL #1: ACCEPT FINANCIAL STATEMENTS AND ISSUER YES FOR FOR STATUTORY REPORTS PROPOSAL #2A: APPROVE SPECIAL DIVIDEND ISSUER YES FOR FOR PROPOSAL #2B: APPROVE FINAL DIVIDEND ISSUER YES FOR FOR PROPOSAL #3: ELECT SWEE-LIAN TEO AS DIRECTOR ISSUER YES FOR FOR PROPOSAL #4: ELECT NARONGCHAI AKRASANEE AS DIRECTOR ISSUER YES FOR FOR PROPOSAL #5: ELECT GEORGE YONG-BOON YEO DIRECTOR ISSUER YES FOR FOR PROPOSAL #6: APPROVE PRICEWATERHOUSECOOPERS AS ISSUER YES FOR FOR AUDITOR AND AUTHORIZE BOARD TO FIX THEIR REMUNERATION PROPOSAL #7A: APPROVE ISSUANCE OF EQUITY OR EQUITY- ISSUER YES FOR FOR LINKED SECURITIES WITHOUT PREEMPTIVE RIGHTS PROPOSAL #7B: AUTHORIZE REPURCHASE OF ISSUED SHARE ISSUER YES FOR FOR CAPITAL PROPOSAL #7C: APPROVE ALLOTMENT AND ISSUANCE OF ISSUER YES FOR FOR ADDITIONAL SHARES UNDER THE RESTRICTED SHARE UNIT SCHEME PROPOSAL #8: APPROVE INCREASE IN RATE OF DIRECTORS' ISSUER YES FOR FOR FEES PROPOSAL #9: AMEND ARTICLES OF ASSOCIATION ISSUER YES FOR FOR --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ISSUER: Airtac International Group TICKER: 1590 CUSIP: G01408106 MEETING DATE: 6/21/2019 FOR/AGAINST PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT PROPOSAL #1: APPROVE BUSINESS OPERATIONS REPORT AND ISSUER YES FOR FOR FINANCIAL STATEMENTS PROPOSAL #2: APPROVE PROFIT DISTRIBUTION ISSUER YES FOR FOR PROPOSAL #3.1: ELECT LEONG KAM SON, WITH ID ISSUER YES AGAINST AGAINST NO.A35166XXX, AS INDEPENDENT DIRECTOR PROPOSAL #3.2: ELECT RENN JYH CHYANG, WITH ID ISSUER YES FOR FOR NO.R122268XXX, AS INDEPENDENT DIRECTOR PROPOSAL #3.3: ELECT LIN YU YA., WITH ID ISSUER YES FOR FOR NO.R221550XXX, AS INDEPENDENT DIRECTOR PROPOSAL #3.4: ELECT NON-INDEPENDENT DIRECTOR 1 SHAREHOLDER YES AGAINST N/A PROPOSAL #3.5: ELECT NON-INDEPENDENT DIRECTOR 2 SHAREHOLDER YES AGAINST N/A PROPOSAL #3.6: ELECT NON-INDEPENDENT DIRECTOR 3 SHAREHOLDER YES AGAINST N/A PROPOSAL #3.7: ELECT NON-INDEPENDENT DIRECTOR 4 SHAREHOLDER YES AGAINST N/A PROPOSAL #3.8: ELECT NON-INDEPENDENT DIRECTOR 5 SHAREHOLDER YES AGAINST N/A PROPOSAL #3.9: ELECT NON-INDEPENDENT DIRECTOR 6 SHAREHOLDER YES AGAINST N/A PROPOSAL #4: AMEND ARTICLES OF ASSOCIATION ISSUER YES FOR FOR PROPOSAL #5: AMEND PROCEDURES FOR LENDING FUNDS TO ISSUER YES FOR FOR OTHER PARTIES PROPOSAL #6: AMEND PROCEDURES GOVERNING THE ISSUER YES FOR FOR ACQUISITION OR DISPOSAL OF ASSETS PROPOSAL #7: AMEND TRADING PROCEDURES GOVERNING ISSUER YES FOR FOR DERIVATIVES PRODUCTS PROPOSAL #8: APPROVE RELEASE OF RESTRICTIONS OF ISSUER YES FOR FOR COMPETITIVE ACTIVITIES OF DIRECTORS --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ISSUER: Akbank TAS TICKER: AKBNK CUSIP: M0300L106 MEETING DATE: 3/25/2019 FOR/AGAINST PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT PROPOSAL #1: ELECT PRESIDING COUNCIL OF MEETING ISSUER YES FOR FOR PROPOSAL #2: ACCEPT BOARD REPORT ISSUER YES FOR FOR PROPOSAL #3: ACCEPT AUDIT REPORT ISSUER YES FOR FOR PROPOSAL #4: ACCEPT FINANCIAL STATEMENTS ISSUER YES FOR FOR PROPOSAL #5: APPROVE DISCHARGE OF BOARD ISSUER YES FOR FOR PROPOSAL #6: APPROVE ALLOCATION OF INCOME ISSUER YES FOR FOR PROPOSAL #7: ELECT DIRECTORS ISSUER YES AGAINST AGAINST PROPOSAL #8: APPROVE DIRECTOR REMUNERATION ISSUER YES AGAINST AGAINST PROPOSAL #9: RATIFY EXTERNAL AUDITORS ISSUER YES FOR FOR PROPOSAL #10: AMEND COMPANY ARTICLES 9 AND 27 ISSUER YES FOR FOR PROPOSAL #11: GRANT PERMISSION FOR BOARD MEMBERS TO ISSUER YES FOR FOR ENGAGE IN COMMERCIAL TRANSACTIONS WITH COMPANY AND BE INVOLVED WITH COMPANIES WITH SIMILAR CORPORATE PROPOSAL #12: APPROVE UPPER LIMIT OF DONATIONS FOR ISSUER YES FOR FOR 2019 --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ISSUER: Alibaba Group Holding Ltd. TICKER: BABA CUSIP: 01609W102 MEETING DATE: 10/31/2018 FOR/AGAINST PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT PROPOSAL #1.1: ELECT JOSEPH C. TSAI AS DIRECTOR ISSUER YES AGAINST AGAINST PROPOSAL #1.2: ELECT J. MICHAEL EVANS AS DIRECTOR ISSUER YES AGAINST AGAINST PROPOSAL #1.3: ELECT ERIC XIANDONG JING AS DIRECTOR ISSUER YES AGAINST AGAINST PROPOSAL #1.4: ELECT BORJE E. EKHOLM AS DIRECTOR ISSUER YES FOR FOR PROPOSAL #2: RATIFY PRICEWATERHOUSECOOPERS AS ISSUER YES FOR FOR AUDITORS --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ISSUER: A-Living Services Co., Ltd. TICKER: 3319 CUSIP: Y0038M100 MEETING DATE: 5/28/2019 FOR/AGAINST PROPOSAL: PROPOSED BY VOTED? VOTE CAST MGMT PROPOSAL #1: APPROVE 2018 REPORT OF THE BOARD OF ISSUER YES FOR FOR DIRECTORS PROPOSAL #2: APPROVE 2018 REPORT OF THE SUPERVISORY ISSUER YES FOR FOR COMMITTEE PROPOSAL #3: APPROVE 2018 AUDITED CONSOLIDATED ISSUER YES FOR FOR FINANCIAL STATEMENTS PROPOSAL #4: APPROVE 2018 ANNUAL REPORT ISSUER YES FOR FOR PROPOSAL #5: APPROVE 2019 ANNUAL FINANCIAL BUDGET ISSUER YES FOR FOR PROPOSAL #6: APPROVE FINAL DIVIDEND ISSUER YES FOR FOR PROPOSAL #7: AUTHORIZE BOARD TO FIX REMUNERATION OF ISSUER YES FOR FOR DIRECTORS PROPOSAL #8: AUTHORIZE BOARD TO FIX REMUNERATION OF ISSUER YES FOR FOR SUPERVISORS PROPOSAL #9: APPROVE PRICEWATERHOUSECOOPERS AS ISSUER YES FOR FOR AUDITOR AND AUTHORIZE BOARD TO FIX THEIR REMUNERATION PROPOSAL #10: ELECT YUE YUAN AS DIRECTOR ISSUER YES FOR FOR PROPOSAL #11: APPROVE ISSUANCE OF EQUITY OR EQUITY- ISSUER YES FOR FOR LINKED SECURITIES WITHOUT PREEMPTIVE RIGHTS FOR DOMESTIC SHARES OR H SHARES PROPOSAL #12: APPROVE EXPANSION OF BUSINESS SCOPE ISSUER YES FOR FOR PROPOSAL #13: AMEND ARTICLES OF ASSOCIATION ISSUER YES FOR FOR ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------