UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-21200
THE DENALI FUND INC.
(Exact name of registrant as specified in charter)
2344 Spruce Street, Suite A, Boulder, CO 80302
(Address of principal executive offices) (Zip code)
Stephen C. Miller
2344 Spruce Street, Suite A, Boulder, CO 80302
(Name and address of agent for service)
Registrant’s Telephone Number, including Area Code: (303) 444-5483
Date of fiscal year end: October 31
Date of reporting period: July 1, 2009 – June 30, 2010
Form N-PX is to be used by a registered management investment company, other than a small business investment company registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than August 31 of each year, containing the registrant's proxy voting record for the most recent twelve-month period ended June 30, pursuant to section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-PX, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-PX unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.
Proxy Voting Record
For Period July 1, 2009 to June 30, 2010
Name of Issuer | Ticker Symbol | CUSIP | Shareholder Meeting Date | Record Date | Proposal Number | Description of Matter to be Voted On | Matter Proposed by Issuer or Holder | Vote Cast (Yes or Abstain) | Vote (For or Against) | For or Against Management |
TS & W/Claymore Tax Advt Auctn Mkt PDF-M7 | TYWUS SERIES M | 87280R207 | 7/20/2009 | 5/15/2009 | 1 | Election of three (3) directors | Issuer | Yes | For | For |
Clough Global Opportunities FD-Common | GLO | 18914E106 | 7/17/2009 | 5/18/2009 | 1 | Election of two (2) directors | Issuer | Yes | For | For |
Blackrock Preferred & Equity Advantage | BTZ SERIES F | 092508506 | 8/26/2009 | 6/26/2009 | 1 | Election of four (4) directors | Issuer | Yes | For | For |
Procter & Gamble Company, The | PG | 742718109 | 10/13/2009 | 8/14/2009 | 1 | Election of thirteen (13) Directors | Issuer | Yes | For | For |
2 | Ratify Appointment of Independent Accounting Firm | Issuer | Yes | For | For | |||||
3 | Amend the Company's Code of Regulations | Issuer | Abstain | Abstain | Abstain | |||||
4 | Approve Proctor & Gamble 2009 Stock and Incentive Plan | Issuer | Yes | Against | Against | |||||
5 | Cumulative Voting | Holder | Yes | Against | For | |||||
6 | Advisory Vote on Executive Compensation | Holder | Yes | Against | For | |||||
Advent Claymore Global Conv SEC & IN W7 | AGC SERIES W | 007639305 | 9/29/2009 | 8/24/2009 | 1 | Election of two (2) Class III Trustees | Issuer | Yes | Against | Against |
Cohen & Steers Advantage Income Realty | RLF | 19247W102 | 10/22/2009 | 7/30/2009 | 1 | Approve Merger of Advantage Income realty Fund, Inc. with and into Quality Income Realty Fund, Inc. | Issuer | Yes | Against | Against |
Cohen & Steers Prem Inc Rlty-Com | RPF | 19247V104 | 10/22/2009 | 7/30/2009 | 1 | Approve Merger of Premium Income Realty Fund, Inc. with and into Quality Income Realty Fund, Inc. (RQI) | Issuer | Yes | Against | Against |
Cohen & Steers Quality Inc. Rlty-Common | RQI | 19247L106 | 10/22/2009 | 7/30/2009 | 1a | Approve Merger of Advantage Income Realty Fund, Inc. (RLF) with and into Quality Income Realty Fund, Inc. (RQI) | Issuer | Yes | Against | Against |
1b | Merger of Premium Income Realty Fund, Inc. (RPF) with and into Quality Income Realty Fund, Inc. | Issuer | Yes | Against | Against | |||||
1c | To Approve, the Merger of Worldwide Realty Income Fund, Inc. (RWF) with and into Quality Income Realty Fund, Inc. (RQI) | Issuer | Yes | Against | Against | |||||
2 | Approve an amendment to RQI's Charter to Increase the Number of authorized Shares of RQI's Capital Stock | Issuer | Yes | Against | Against | |||||
3a | Approve the Fundamental Policy changes for RQI: Changing from Fundamental to Non-fundamental the Fund's Investment Restriction Prohibiting Fund from Investing more than 10% of its Managed Assets in Debt Securities Issued or Guaranteed by Real Estate Companies. | Issuer | Yes | Against | Against | |||||
3b | Approve the Fundamental Policy changes for RQI: Changing from Fundamental to Non-fundamental the Fund's Investment Restriction Prohibiting Fund from Investing more than 20% of its Managed Assets in Preferred Stock or Debt Securities,. | Issuer | Yes | Against | Against | |||||
3c | Approve the Fundamental Policy changes for RQI, all as More Fully Described in the Proxy Statement | Issuer | Yes | Against | Against | |||||
Cohen & Steers REIT & Utility Fund | RTU | 19247Y108 | 10/22/2009 | 7/30/2009 | 1 | Approve merger of REIT and Utility Income Fund, Inc. with Select Utility Fund, Inc. | Issuer | Yes | Against | Against |
Cohen & Steers Select Utility Fund | UTF | 19248A109 | 10/22/2009 | 7/30/2009 | 1 | Approve merger of REIT and Utility Income Fund, Inc. with Select Utility Fund, Inc. | Issuer | Yes | Against | Against |
2 | Approve amendment to UTF's charter to increase the number of authorized shares of UTF's capital stock | Issuer | Yes | Against | Against | |||||
3 | Approve changing UTF's Investment Objective | Issuer | Yes | Against | Against | |||||
Cohen & Steers Worldwide Realty Inc. | RWF | 19248J100 | 10/22/2009 | 7/30/2009 | 1 | Approve merger of Worldwide Realty Income Fund, Inc. with Quality Income Realty Fund, Inc. | Issuer | Yes | Against | Against |
Dreyfus Treas & Agncy Cash Mgmt-Inst SH | DTRXX | 261908107 | 11/16/2009 | 9/4/2009 | 1A | Approve changes to fundamental policies & investment restrictions re: borrowing | Issuer | Yes | For | For |
1B | Approve changes to fundamental policies & investment restrictions re: lending | Issuer | Yes | For | For | |||||
2B | Approve changes to fundamental policies & investment restrictions, permit investment in other investment companies | Issuer | Yes | For | For | |||||
Advent Claymore Global Conv Sec & In W7 | AGC SERIES W | 007639305 | 1/12/2010 | 11/13/2009 | 1 | Approve new advisory agreement | Issuer | Abstain | Abstain | Abstain |
Berkshire Hathaway Inc. Class A | BRK/A | 084670108 | 1/20/2010 | 11/30/2009 | 1 | Amend Certificate of Incorporation | Issuer | Yes | For | For |
2 | Class B 50-for a Split | Issuer | Yes | For | For | |||||
3 | Change par value of each share of class B common stock | Issuer | Yes | For | For | |||||
4 | Increase B common stock | Issuer | Yes | For | For | |||||
5 | Remove requirement to issue physical stock certificates | Issuer | Yes | For | For | |||||
TS&W/Claymore Tax Advt Auction Market PDF-M7 | TYWUS SERIES M | 87280R207 | 1/12/2010 | 11/13/2009 | 1 | New investment advisory agreement between the fund and Claymore Advisors, LLC | Issuer | Abstain | Abstain | Abstain |
2a | Approve new investment sub-advisory among the fund, Claymore Advisors and Thompson, Siegel & Walmsley, LLC | Issuer | Abstain | Abstain | Abstain | |||||
2b | Approve new investment sub-advisory among the fund, Claymore Advisors and SMC Fixed Income Management, LP | Issuer | Abstain | Abstain | Abstain | |||||
F&C/Claymore Total Return Fund - Common | FLC | 338479108 | 4/22/2010 | 1/22/2010 | 1 | Election of two (2) directors | Issuer | Yes | For | For |
PIMCO Corporate Opportunity FD-Pref W | PTY SERIES W | 72201B408 | 4/14/2010 | 2/18/2010 | 1 | Election of four (4) directors | Issuer | Yes | For | For |
Johnson & Johnson | JNJ | 478160104 | 4/22/2010 | 2/23/2010 | 1 | Election of ten (10) directors | Issuer | Yes | For | For |
2 | PWC LLP as accountants | Issuer | Yes | For | For | |||||
3 | Executive Compensation | Holder | Yes | Against | For | |||||
4 | Special shareholder meetings | Holder | Yes | For | Against | |||||
Pfizer, Inc. | PFE | 717081103 | 4/22/2010 | 2/23/2010 | 1 | Election of fifteen (15) directors | Issuer | Yes | For | For |
2 | Ratify KPMG as accountants | Issuer | Yes | For | For | |||||
3 | Executive Compensation | Issuer | Yes | For | For | |||||
4 | Reduce percentage of share required for shareholders to call special meetings | Issuer | Yes | For | For | |||||
5 | Stock options | Holder | Yes | Against | For | |||||
Berkshire Hathaway Inc. A | BRK/A | 084670108 | 5/1/2010 | 3/3/2010 | 1 | Election of twelve (12) directors | Issuer | Yes | For | For |
Glaxosmithkline PLC | GSK | 37733W105 | 5/6/2010 | 3/9/2010 | 1 | Receive and Adopt Director's Report and Financial Statements | Issuer | Yes | For | For |
2 | Approve remuneration Report | Issuer | Yes | For | For | |||||
3 | Elect Dr. S. Burns as Director | Issuer | Yes | For | For | |||||
4 | Elect Mr. J. Heslop as Director | Issuer | Yes | For | For | |||||
5 | Elect Sir D. Maughan as director | Issuer | Yes | For | For | |||||
6 | Elect Dr. D. Podolsky as Director | Issuer | Yes | For | For | |||||
7 | Elect Sir R. Wilson as Director | Issuer | Yes | For | For | |||||
8 | Re-appoint Auditors | Issuer | Yes | For | For | |||||
9 | Remuneration of Auditors | Issuer | Yes | For | For | |||||
10 | Approve political Donations | Issuer | Yes | Against | Against | |||||
11 | Authority to allot shares | Issuer | Yes | For | For | |||||
12 | Disapplication of pre-emption rights | Issuer | Yes | Against | Against | |||||
13 | Authority for company to purchase its own shares | Issuer | Yes | For | For | |||||
14 | Exemption from statement of senior statutory Auditor's name | Issuer | Yes | For | For | |||||
15 | Reduce notice of general meeting other than an AGM | Issuer | Yes | For | For | |||||
16 | Adopt new Articles of Association | Issuer | Yes | For | For | |||||
Ventas, Inc. | VTR | 92276F100 | 4/30/2010 | 3/8/2010 | 1 | Election of eight (8) directors | Issuer | Yes | For | For |
2 | Ernst and Young LLP as accounting firm | Issuer | Yes | For | For | |||||
3 | Majority vote standard for election of directors | Holder | Yes | For | Against | |||||
3M Company | MMM | 88579Y101 | 5/11/2010 | 3/12/2010 | 1 | Election of ten (10) directors | Issuer | Yes | For | For |
2 | PWC LLP as accountants | Issuer | Yes | For | For | |||||
3 | Approve expanded performance criteria under the long-term incentive plan | Issuer | Yes | Against | Against | |||||
4 | Special meetings | Holder | Yes | For | Against | |||||
Gabelli Dividend & Income Trust-PFD C | GDV SERIES TH | 36242H401 | 5/17/2010 | 3/15/2010 | 1 | Election of three (3) directors | Issuer | Yes | For | For |
Cohen & Steers Infrastructure Fund | UTF | 19248A109 | 5/13/2010 | 3/19/2010 | 1 | Election of three (3) directors | Issuer | Yes | For | For |
Cohen & Steers Quality Inc Rlty-Common | RQI | 19247L106 | 5/13/2010 | 3/19/2010 | 1 | Election of three (3) directors | Issuer | Yes | For | For |
Western Asset Premier Bond Fund-SER | WEA SERIES M | 957664204 | 5/18/2010 | 3/26/2010 | 1 | Election of seven (7) directors | Issuer | Yes | For | For |
LTC Properties, Inc. | LTC | 502175102 | 5/27/2010 | 4/15/2010 | 1 | Election of six (6) directors | Issuer | Yes | For | For |
2 | Ratify auditors | Issuer | Yes | For | For | |||||
ING Clarion Global Real Estate Inc-Com | IGR | 44982G104 | 11/10/2009 | 9/22/2009 | 1 | Election of two (2) directors | Issuer | Yes | For | For |
Neuberger Berman R/E SEC Income-PDF A | NRO SERIES M | 64190A202 | 6/1/2010 | 4/1/2010 | 1 | Election of five (5) directors | Issuer | Did Not Vote | N/A | N/A |
SIGNATURE
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.
(Registrant) | The Denali Fund Inc. |
By: | /s/ Stephen C. Miller |
Stephen C. Miller | |
President (Principal Executive Officer) | |
Date: | August 31, 2010 |