โIโm glad to be with you, Samwise Gamgee. Here at the end of all things.โ
The final Oscar voting period has closed, and anyone telling you the race is over is lying.
The mystique of the Oscars depends on sealed envelopes and silent voters. Yet every season, the ballots speak. Anonymous Oscar ballots have become both a staple and a ritual of the awards season. At their best, they offer candid, unfiltered insight from the people voting on the industryโs top honors.
It is the good, the bad and the ugly of the Oscars, laid bare across 24 categories and centered on one irresistible question: What are voters actually thinking?
As Variety previously reported, this yearโs digital Oscar ballot is synced to the Academy Screening Room, where members can watch nominees. Under a new rule, members must watch all nominees in a category before they can vote in it. Until then, those races remain grayed out on the ballot.
The change delayed voting for some members. In past years, some voters would simply rush through the ballot. While the new format still operates largely on the honor system, the setup nudges members to watch more contenders or abstain from categories they have not completed.
Before treating the anonymous ballot as a parlor game, it is worth considering who is casting those votes. According to the most recent Academy figures, there are 11,126 members, of which 10,136 are active voters. The body remains majority white and American, though those demographics vary by branch. The Academy is 35% women, 22% from underrepresented communities and 21% international. The actors branch, the largest with 1,311 members, has become a major driver of diversification in recent years.
The Academy can point to progress. Even so, awards voting remains a revealing exercise.
Here are some of the most notable takeaways from voters, including selections from anonymous Oscar ballots.

Best picture is a true-to-form two-film race with no daylight between them.
Ryan Cooglerโs vampire drama โSinnersโ and Paul Thomas Andersonโs political thriller โOne Battle After Anotherโ are, by a wide margin, the top two choices among voters. So dominant are those films that it is difficult to name a clear third-place contender. They have consumed the race.
What makes the contest especially compelling is the psychology of voters who admire both films. In at least six conversations with ballot-sharing voters, a pattern emerged: Many said some version of, โโOne Battle After Anotherโ is going to win best picture, but I voted for โSinners.โโ In some cases, that same split extended to best director: โPaul Thomas Anderson is going to win, but I voted for Ryan Coogler.โ
The dynamic recalls the 2020-21 Oscar season, when some voters believed Chadwick Boseman, for โMa Raineyโs Black Bottom,โ would win best actor but ultimately cast ballots for Anthony Hopkins in โThe Father.โ The instinctive or โpurityโ choice, rather than the presumed consensus winner, appears to be shaping this race as well.
That means Cooglerโs candidacy for best director is real, despite Andersonโs sweep of precursor awards.
Voter No. 1 Profile: American, actors branch, under 65, person of color
Best picture: โSinnersโ
Director: Chloรฉ Zhao, โHamnetโ
Actor: Michael B. Jordan, โSinnersโ
Actress: Jessie Buckley, โHamnetโ
Supporting actor: Jacob Elordi, โFrankensteinโ
Supporting actress: Wunmi Mosaku, โSinnersโ
Good: โI loved โHamnetโ and โSinners.โ I donโt want to punish either film for being different kinds of great. Both gutted me in different ways.โ
Bad: โI couldnโt finish any of the shorts this year. They really are a drag.โ
Ugly: โI thought all 10 movies were great, but overall, not a great year for movies.โ

Ethan Hawke as Lorenz Hart in โBlue Moonโ
ยฉSony Pictures/Courtesy Everett Collection
Best actor shows Michael B. Jordan surging with Leonardo DiCaprio and Ethan Hawke as spoilers.
Best actor is, by a considerable margin, the most scattered category in this ballot survey. Support is spread across several contenders, though one theme is clear: Michael B. Jordan has built enough backing to emerge as a serious favorite for his first Oscar.
Still, a meaningful number of votes also went to Leonardo DiCaprio for โOne Battle After Anotherโ and Ethan Hawke for โBlue Moon.โ If Jordan has spoilers, they appear to be those two. What did not surface in significant numbers were votes for Timothรฉe Chalamet in โMarty Supremeโ or a broad wave of support for Wagner Moura in โThe Secret Agent.โ Both remain in the conversation, but not at the level their campaigns may have hoped.
Voter No. 2 Profile: American, craft branch, over 65, white
Best picture: โF1โ
Director: Chloรฉ Zhao
Actor: Leonardo DiCaprio
Actress: Kate Hudson
Supporting actor: Sean Penn
Supporting actress: Teyana Taylor
This exchange came after the voter read the ballot aloud:
Variety: โThese choices are surprising and all over the place. Can you explain, like, why Chloรฉ?โ
Voter: โBecause I couldnโt vote for Joe Kosinski.โ
Variety: โThatโs it?โ
Voter: โAnd I think her movie is interesting.โ
Variety: โWhy didnโt you vote for Jessie Buckley?โ
Voter: โI like Kate.โ

โHamnetโ
ยฉFocus Features/Courtesy Everett Collection
Some of the films that were โhomeworkโ at the end.
โHamnet,โ โThe Secret Agentโ and โSentimental Valueโ were the late homework assignments for many members, films a notable number of voters had not seen until the final days of balloting. That timing could help Jessie Buckley, who has been a consistent force throughout the season. A fresh late screening of โHamnetโ may have worked in her favor.
Buckley is the most consistently mentioned name in best actress. There is broad enthusiasm for her performance, and โHamnetโ also appears to function as an alternative to โOne Battle After Anotherโ for some voters. Among those who were less responsive to the film, support split among Kate Hudson for โSong Sung Blue,โ Rose Byrne for โIf I Had Legs Iโd Kick Youโ and Emma Stone for โBugonia.โ It is not a deep bench of challengers, but it does suggest the category is not entirely locked.
Voter No. 3 Profile: American, artisans branch, under 65, Black
Best Picture: โSinnersโ
Director: Ryan Coogler, โSinnersโ
Actor: Michael B. Jordan, โSinnersโ
Actress: Jessie Buckley, โHamnetโ
Supporting actor: Delroy Lindo, โSinnersโ
Supporting actress: Wunmi Mosaku, โSinnersโ
Original screenplay: โSinnersโ
Adapted screenplay: โOne Battle After Anotherโ
Casting: โSinnersโ
Production design: โSinnersโ
Cinematography: โSinnersโ
Costume design: โHamnetโ
Film editing: โSinnersโ
Makeup and hairstyling: โFrankensteinโ
Sound: โSinnersโ
Visual effects: โSinnersโ
Good: โโSinnersโ is the movie that made me remember what a theater is for.โ
Bad: โAre we allowed to finally talk about why โOne Battle After Anotherโ is a bad movie, or are we still just pretending itโs not the most problematic movie for the Black community since maybe โGreen Bookโ?โ
Ugly: โPeople are too scared to say what they think in Hollywood. That includes journalists and critics. Itโs easier to come down on an underdog than say, โDear Mr. Anderson, your movie is not great.โ All because he made โBoogie Nightsโ?โ

โOne Battle After Anotherโ
ยฉWarner Bros/Courtesy Everett C
Delroy Lindo led the charge early, but Sean Penn had a huge showing in the last 48 hours.
The supporting actor race appears to have narrowed to three contenders: Delroy Lindo for โSinners,โ Sean Penn for โOne Battle After Anotherโ and Stellan Skarsgรฅrd for โSentimental Value.โ
Early ballots showed strong support for Lindo, with Skarsgรฅrd close behind and little movement for Penn. But in the final 48 hours before voting closed at 5 p.m. PT, that changed. Pennโs late momentum makes him a plausible winner, which would give him a third Oscar after victories for โMystic Riverโ and โMilk.โ
Skarsgรฅrd remains the wild card. Many voters had not yet seen โSentimental Valueโ when contacted, meaning late viewings may have consolidated support around the veteran Swedish actor.
Voter No. 4 Profile: American, writers branch, under 65, woman
Best Picture: โSinnersโ
Director: Paul Thomas Anderson, โOne Battle After Anotherโ
Actor: Timothรฉe Chalamet, โMarty Supremeโ
Actress: Jessie Buckley, โHamnetโ
Supporting actor: Stellan Skarsgรฅrd, โSentimental Valueโ
Supporting actress: Amy Madigan, โWeaponsโ
Original screenplay: โSentimental Valueโ
Adapted screenplay: โOne Battle After Anotherโ
Casting: โSinnersโ
Animated feature: โKPop Demon Huntersโ
Production design: โSinnersโ
Cinematography: โTrain Dreamsโ
Costume design: โSinnersโ
Film editing: โOne Battle After Anotherโ
Makeup and hairstyling: โSinnersโ
Sound: โSinnersโ
Visual effects: โThe Lost Busโ
Original score: โSinnersโ
Original song: โSinnersโ
Documentary feature: โThe Alabama Solutionโ
International feature: โIt Was Just an Accidentโ
Animated short: โButterflyโ
Documentary short: โThe Devil Is Busyโ
Live-action short: โFriend of Dorothyโ
Good: โThere were a lot of movies I loved watching this year. Original movies are back, baby.โ
Bad: โI hated โFrankenstein.โ And I still canโt stop thinking about the cinematography in โTrain Dreams.โ
Ugly: โI wish Stellan was in best actor, because thatโs a best actor performance. Not a supporting one.โ

Amy Madigan in โWeaponsโ
Warner Bros.
Amy Madigan has the home field advantage, and Wunmi Mosaku has the range of demographics.
Supporting actress produced some of the most nuanced ballot conversations.
Amy Madiganโs performance in โWeaponsโ appears to carry substantial goodwill among Los Angeles-based industry voters, the kind of hometown backing that can matter in a close race. Her SAG Award win reflects that strength.
But Wunmi Mosaku of โSinnersโ may be the most interesting contender in the category. She seems to be pulling support from two different groups: committed โSinnersโ voters checking the film across the ballot, and โOne Battle After Anotherโ supporters who appear to be using the category as a place to honor another standout performance.
In at least a few cases, voters who favored โOne Battle After Anotherโ in best picture, director and actor still chose Mosaku over co-nominee Teyana Taylor in supporting actress.
That dual appeal, both passionate first-choice support and affectionate crossover backing, could be enough to carry Mosaku to a win. One voter told Variety that, in all their years voting for the Oscars, supporting actress was the toughest category theyโve ever voted on.
Voter No. 5 Profile: International, craft branch, over 65, white
Best picture: โOne Battle After Anotherโ
Director: Paul Thomas Anderson
Actor: Wagner Moura, โThe Secret Agentโ
Actress: Jessie Buckley, โHamnetโ
Supporting actor: Benicio Del Toro, โOne Battle After Anotherโ
Supporting actress: Wunmi Mosaku, โSinnersโ
Original screenplay: โSentimental Valueโ
Adapted screenplay: โOne Battle After Anotherโ
Casting: โOne Battle After Anotherโ
Production design: โFrankensteinโ
Cinematography: โTrain Dreamsโ
Costume design: โFrankensteinโ
Film editing: โOne Battle After Anotherโ
Makeup and hairstyling: โFrankensteinโ
Sound: โOne Battle After Anotherโ
Visual effects: โAvatar: Fire and Ashโ
Original score: โOne Battle After Anotherโ
Original song: โTrain Dreamsโ
Good: โI watched โOne Battle After Anotherโ twice. The first time, I admired it. The second time, I had the time of my life.โ
Bad: โI didnโt think โSinnersโ was great. It felt long and repetitive.โ
Ugly: โPaul Thomas Anderson is the only filmmaker who made a movie Iโll remember 15 to 20 years from now. Everything else is lifeless.โ

โTrain Dreamsโ
Courtesy of Netflix
Cinematography is between three dynamic choices.
Cinematography may be the most competitive craft category in this ballot sample.
โTrain Dreamsโ represents the pure craft-choice vote for many members, a recognition of Adolfo Velosoโs striking work. But โSinnersโ is a serious contender, with Autumn Durald Arkapaw potentially in position to make history as the first woman to win in the category, a fact voters appeared aware of.
Despite BAFTA and American Society of Cinematographers wins for โOne Battle After Another,โ that film did not initially appear to hold the same level of Academy support early in voting. Still, as with Penn in supporting actor, ballots for the film increased in the final 24 hours. The race appears headed for a photo finish.
Voter No. 6 Profile: International, directors branch, over 65
Best picture ranking:
- โOne Battle After Anotherโ
- โSentimental Valueโ
- โThe Secret Agentโ
- โFrankensteinโ
- โMarty Supremeโ
- โTrain Dreamsโ
- โSinnersโ
- โBugoniaโ
- โF1โ
- โHamnetโ
Director: Paul Thomas Anderson
Actor: Leonardo DiCaprio
Actress: Rose Byrne, โIf I Had Legs, Iโd Kick Youโ
Supporting actor: Stellan Skarsgรฅrd
Supporting actress: Teyana Taylor
Original Screenplay: โMarty Supremeโ
Adapted Screenplay: โOne Battle After Anotherโ
Good: โEveryoneโs acting like this year is a cage match between two movies. I keep begging people to watch what the crafts are doing. Thatโs where the cinema is.โ
Bad: โDid โF1โ make any sense?โ
Ugly: โI know my colleagues donโt watch all of the movies. Itโs sad. Quit if youโre not going to do this. Some really care.โ

โFrankensteinโ
Ken Woroner/Netflix
โFrankensteinโ looks to hold onto its three tech races, but there are a couple of coin-flips lurking in places.
โFrankensteinโ looks well positioned to win production design, costume design and makeup and hairstyling. Its visual identity clearly made a lasting impression on branch voters.
Film editing appears to be a three-way race among โSinners,โ โOne Battle After Anotherโ and โF1,โ though the first two seem to hold the advantage. Sound appears to be โF1โsโ category to lose, with โSinnersโ the most credible challenger.
Voter No. 7 Profile: American, artisan, under 65, white
Best Picture: โSinnersโ (1), โOne Battle After Anotherโ (2)
Director: Ryan Coogler
Actor: Michael B. Jordan
Actress: Jessie Buckley
Supporting actor: Sean Penn
Supporting actress: Wunmi Mosaku
Original screenplay: โSinnersโ
Adapted screenplay: โOne Battle After Anotherโ
Cinematography: โOne Battle After Anotherโ
Film editing: โF1โ
Production design: โFrankensteinโ
Costume design: โFrankensteinโ
Makeup and hairstyling: โFrankensteinโ
Sound: โSinnersโ
Original score: โSinnersโ
Original song: โGolden,โ from โK-Pop Demon Huntersโ
International feature: โThe Voice of Hind Rajabโ
Animated feature: Abstain
Documentary feature: Abstain
Shorts: Abstain
Good: โIโm all the way โSinners.โ Itโs bigger than the Oscars.โ
Bad: โWhen โF1โ makes the best picture lineup, itโs a rough year for movies.โ
Ugly: โThe weakest film weโve had in the entertainment business in a long time.โ
Some final thoughts: I donโt think โSinnersโ is polling lower than No. 2 in any single category where it is nominated. Not one. That consistency is staggering for a film perceived in some quarters as the sentimental favorite rather than the likely winner. While many will deem this probability unlikely, there is a version of Oscar night where โSinnersโ becomes the most awarded film in Academy history โ surpassing the 11 total wins of โThe Lord of the Rings: The Return of the King,โ โTitanicโ and โBen-Hurโ โ after having already been the most nominated. Weโll see when the envelopes are opened.
Final Oscar predictions will drop next week. The Oscars will air on Sunday, March 15 on ABC and Hulu.