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, 2010 – June 30, 2011
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, 2010 to June 30, 2011
Name of Issuer | Ticker Symbol | CUSIP | Shareholder Meeting Date | Record Date | Proposal Number | Description of Matter Voted On | Matter Proposed By Issuer or Holder | Vote Cast | Vote | For or Against Management |
Neuberger Berman R/E SEC Income -PFD A | NRO Series M | 64190A202 | 7/1/2010 | 4/1/2010 | 1 | Election of five (5) directors | Issuer | Yes | Against | Against |
TS&W/ Claymore Tax Advt Auctn Mkt PDF-M7 | TYWUS | 87280R207 | 7/19/2010 | 3/23/2010 | 1 | Election of two (2) directors | Issuer | Yes | Against | Against |
2 | Annual terms for directors | Holder | Yes | For | Against | |||||
BR CR Allocation Income Trust IV F7 | BTZ Series F7 | 092508506 | 9/2/2010 | 7/6/2010 | 1 | Election of five (4) directors | Issuer | Yes | Against | Against |
Advent Claymore Global Conv Sec & IN W7 | AGC | 007639305 | 9/28/2010 | 8/16/2010 | 1 | Election of three (3) directors | Issuer | Yes | Against | Against |
The Proctor & Gamble Company | PG | 742718109 | 10/12/2010 | 8/13/2010 | 1 | Election of ten (10) directors | Issuer | Yes | For | For |
2 | Ratify appointment of the independent registered accounting firm | Issuer | Yes | For | For | |||||
3 | Cumulative Voting | Holder | Yes | For | Against | |||||
PIMCO Corporate Opportunity FD-Pref W | PTY Series W | 72201B408 | 4/14/2011 | 2/18/2011 | 1 | Election of three (3) directors | Issuer | Yes | For | For |
F&C/Claymore Total Return Fund-Common | FLC | 338479108 | 4/15/2011 | 1/21/2011 | 1 | Election of one (1) director | Issuer | Yes | For | For |
Public Service Enterprise Group, Inc. | PEG | 744573106 | 4/19/2011 | 2/18/2011 | 1 | Election of nine (9) Directors | Issuer | Yes | For | For |
2 | Advisory vote on executive compensation | Issuer | Yes | Against | Against | |||||
3 | Advisory vote on frequency of advisory vote on executive compensation | Issuer | Yes | 1 yr | For | |||||
4 | Ratification of the appointment of Deloitte & Touche LLP as independent auditor for the year 2011 | Issuer | Yes | For | For | |||||
Scana Corporation | SCG | 80589M102 | 4/21/2011 | 3/3/2011 | 1 | Election of five (5) Directors | Issuer | Yes | For | For |
2 | Approval of amendment to director compensation and deferral plan | Issuer | Yes | For | For | |||||
3 | Approval of amendment to articles of incorporation to increase shares from 150,000,000 to 200,000,000 | Issuer | Yes | For | For | |||||
4 | Approval of appointment of independent registered public accounting firm | Issuer | Yes | For | For | |||||
5 | Advisory (non-binding) vote on executive compensation | Issuer | Yes | For | For | |||||
6 | Advisory (non-binding) vote on frequency of executive compensation vote | Issuer | Yes | 1 yr | Against | |||||
Cohen & Steers Infrastructure Fund, Inc. | UTF | 19248A109 | 4/28/2011 | 2/23/2011 | 1 | Election of three (3) Directors | Issuer | Yes | For | For |
Cohen & Steers Quality Inc Rlty-Common | RQI | 19247L106 | 4/28/2011 | 2/23/2011 | 1 | Election of three (3) Directors | Issuer | Yes | For | For |
Johnson & Johnson | JNJ | 478160104 | 4/28/2011 | 3/1/2011 | 1 | Election of eleven (11) Directors | Issuer | Yes | For | For |
2 | Ratification of Price Waterhouse Coopers LLP as independent registered public accounting firm for 2011 | Issuer | Yes | For | For | |||||
3 | Advisory vote on named executive officer compensation | Issuer | Yes | Against | Against | |||||
4 | Advisory vote on frequency of advisory vote on named executive officers | Issuer | Yes | 1 yr | For | |||||
5 | Shareholder proposal on pharmaceutical price restraint | Holder | Yes | Against | For | |||||
6 | Shareholder proposal on amendment to Company's equal employment opportunity policy | Holder | Yes | Against | For | |||||
7 | Shareholder proposal on adopting non-animal methods for training | Holder | Yes | Against | For | |||||
Pfizer, Inc. | PFE | 717081103 | 4/28/2011 | 3/1/2011 | 1 | Election of thirteen (13) Directors | Issuer | Yes | For | For |
2 | Proposal to ratify the selection of KPMG LLP as independent registered accounting firm for 2011 | Issuer | Yes | For | For | |||||
3 | Advisory vote on executive compensation | Issuer | Yes | For | For | |||||
4 | Advisory vote on the frequency of future advisory votes on executive compensation | Issuer | Yes | 1 yr | Against | |||||
5 | Shareholder proposal regarding publication of political contributions | Holder | Yes | Against | For | |||||
6 | Shareholder proposal regarding public policy initiatives | Holder | Yes | Against | For | |||||
7 | Shareholder proposal on pharmaceutical price restraints | Holder | Yes | Against | For | |||||
8 | Shareholder proposal regarding action by written consent | Holder | Yes | For | Against | |||||
9 | Shareholder proposal regarding special shareholder meetings | Holder | Yes | For | Against | |||||
10 | Shareholder proposal regarding animal research | Holder | Yes | Against | For | |||||
Berkshire Hathaway, Inc. Class A | BRK/A | 084670108 | 4/30/2011 | 3/2/2011 | 1 | Election of twelve (12) Directors | Issuer | Yes | For | For |
2 | Non-binding resolution to approve the compensation of the company's named executive officers, as described in the 2011 proxy statement | Issuer | Yes | For | For | |||||
3 | Non-binding resolution to determine the frequency (whether annual, biennial or triennial) with which shareholders of the company shall be entitled to have an advisory vote on executive compensation | Issuer | Yes | 1 yr | Against | |||||
4 | To approve the shareholder proposal with respect to the establishment of quantitative goals for the reduction of greenhouse gas and other air emissions at Berkshire's energy generating holdings | Issuer | Yes | Against | For | |||||
3M Company | MMM | 88579Y101 | 5/10/2011 | 3/11/2011 | 1 | Election of ten (10) Directors | Issuer | Yes | For | For |
2 | To Ratify the appointment of Pricewaterhousecoopers as independent registered public accounting firm. | Issuer | Yes | For | For | |||||
3 | An advisory vote on executive compensation | Issuer | Yes | Against | Against | |||||
4 | An advisory vote on the frequency of advisory votes on executive compensation | Issuer | Yes | 1 yr | For | |||||
5 | Stockholder proposal on political contributions | Issuer | Yes | Against | Against | |||||
Ventas, Inc. | VTR | 92276F100 | 5/12/2011 | 3/16/2011 | 1 | Election of ten (10) Directors | Issuer | Yes | For | For |
2 | Ratification of the selection of Ernst & Young LLP as the independent registered accounting firm for fiscal year 2011 | Issuer | Yes | For | For | |||||
3 | Advisory vote on executive compensation | Issuer | Yes | For | For | |||||
4 | Advisory vote as to the frequency of advisory votes on executive compensation | Issuer | Yes | 1 yr | For | |||||
Transocean Ltd. | RIG | H8817H100 | 5/13/2011 | 3/16/2011 | 1 | Approval of the 2010 annual report, including the consolidated financial statements of Transocean Ltd. For fiscal year 2010 and the statutory financial statements of Transocean Ltd. For fiscal year 2010 | Issuer | Yes | For | For |
2 | Discharge of the members of the Board of Directors and executive management from liability for activities during fiscal year 2010 | Issuer | Yes | Against | Against | |||||
3 | Appropriation of available earnings for fiscal year 2010 | Issuer | Yes | Against | Against | |||||
4 | Proposed reallocation of free reserve to legal reserve, reserve from capital contributions | Issuer | Yes | Against | Against | |||||
5 | Rescission of the distribution to shareholders in the form of a par value reduction as approved at the 2010 annual general meeting | Issuer | Yes | Against | Against | |||||
6 | Release and allocation of legal reserve, reserve from capital contribution, to dividend reserve from capital contributions, If proposal 3 and proposal 5 are not approved as proposed by the Board of Directors, there will be no vote on the proposal 6 | Issuer | Yes | Against | Against | |||||
7 | New authorized share capital | Issuer | Yes | Against | Against | |||||
8 | Reduction of the maximum number of members of the Board of Directors to 12 | Issuer | Yes | For | For | |||||
9 | Election of five (5) Directors | Issuer | Yes | For | For | |||||
10 | Appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the fiscal year 2011 and reelection of Ernst & Young Ltd., Zurich, as the Company's auditor for a further one-year term | Issuer | Yes | For | For | |||||
11 | Advisory vote on executive compensation | Issuer | Yes | Against | Against | |||||
12 | Advisory vote on the frequency of executive compensation vote | Issuer | Yes | 1 yr | For | |||||
Western Asset Premier Bond Fund-PRF A | WEA Series M | 957664204 | 5/17/2011 | 4/6/2011 | 1 | Election of seven (7) Directors | Issuer | Yes | For | For |
Altria Group, Inc | MO | 02209S103 | 5/19/2011 | 3/28/2011 | 1 | Election of nine (9) Directors | Issuer | Yes | For | For |
2 | Ratification of the selection of independent registered public accounting firm | Issuer | Yes | For | For | |||||
3 | Advisory vote on the compensation of the company's named executive officers | Issuer | Yes | Against | Against | |||||
4 | Advisory vote on the frequency of the future advisory votes on the compensation of the company's executive officers | Issuer | Yes | 1 yr | N R | |||||
5 | Shareholder proposal - address concerns regarding tobacco flavoring | Holder | Yes | Against | For | |||||
Diamond Offshore Drilling, Inc. | DO | 25271C102 | 5/23/2011 | 3/28/2011 | 1 | Election of nine (9) Directors | Issuer | Yes | For | For |
2 | Ratify the appointment of Deloitte & Touche LLP as the independent auditors of the company for fiscal year 2011 | Issuer | Yes | For | For | |||||
3 | To Approve by non-binding vote, executive compensation | Issuer | Yes | For | For | |||||
4 | To recommend, by non-binding vote, the frequency of executive compensation votes | Issuer | Yes | 1 yr | For | |||||
LTC Properties, Inc. | LTC | 502175102 | 6/1/2011 | 4/26/2011 | 1 | Election of six (6) Directors | Issuer | Yes | For | For |
2 | Ratification of the company's independent auditors | Issuer | Yes | For | For | |||||
3 | Advisory vote on compensation of named executive officers | Issuer | Yes | For | For | |||||
4 | Advisory vote on the frequency of the advisory vote on compensation of named executive officers | Issuer | Yes | 1 yr | Against | |||||
Gabelli Dividend & Income Trust-PFD | GDV Series Th | 36242H401 | 6/2/2011 | 3/21/2011 | 1 | Election of four (4) Directors | Issuer | Yes | For | For |
2 | Shareholder proposal to eliminate the fund's classified board structure | Holder | Yes | For | Against |
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, 2011 |