Birmiwal Investment Trust NPX Annual report of proxy voting record

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-PX

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number 811-21289

BIRMIWAL INVESTMENT TRUST

(Exact name of registrant as specified in charter)

5270 Highland Drive
Bellevue, Washington                                 98006
(Address of principal executive offices)                     (Zip code)

Kailash Birmiwal
Birmiwal Investment Trust
5270 Highland Drive
Bellevue, Washington 98006
(Name and address of agent for service)

Registrant's telephone number, including area code: (425) 957-9436

Date of fiscal year end: March 31, 2004

Date of reporting period: July 1, 2003 – June 30, 2004

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.

Item 1 - Proxy Voting Record

Account Name: Birmiwal Oasis Fund

Custodian Name: US Bank

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

Meeting

Issuer or

Vote

For/Against

Issuer

Ticker

CUSIP

Date

Description of Vote

Voted?

Cast

Mgmt

Check Point Software

CHKP

M22465104

7/31/2003

1. Election of directors.

Issuer

yes

for

Technologies LTD

2. Election of outside directors for

Issuer

yes

for

three years following the meeting.

3. Authorizes Board Chairman and CEO to continue

Issuer

yes

against

serving for another 3 years.

4. Ratify consolidated financial statements

Issuer

yes

for

for the year ended December 31, 2002.

5. Ratify appointment and compensation of

Issuer

yes

for

the company's independent public accountant.

6. Approve certain terms of compensation of

Issuer

yes

against

officers who are also directors of the company

Sierra Pacific

SRP

826428104

8/11/2003

1. Approve the potential issuance of additional

Issuer

yes

for

Resources

shares.

Applied Micro Circuits

AMCC

03822W109

8/27/2003

1. Election of directors.

Issuer

yes

withhold all

Corporation

2. Ratify selection of independent auditors.

Issuer

yes

for

Interwoven, Inc.

IWOV

46114T102

11/18/2003

1. Approve the issuance of Interwoven

Issuer

yes

for

Inc common stock pursuant to merger.

2. Authorization of a reverse stock split.

Issuer

yes

against

King Pharmaceuticals

495582108

11/4/2003

1. Election of directors.

Issuer

yes

for

Inc.

2. Ratify selection of independent auditors

Issuer

yes

for

and accountants.

Elan Corporation PLC

ELN

284131208

10/21/2003

1. Ordinary resolution 1

Issuer

yes

for

2. Ordinary resolution 2

Issuer

yes

for

3. Ordinary resolution 3

Issuer

yes

for

4. Ordinary resolution 4

Issuer

yes

for

5. Ordinary resolution 5

Issuer

yes

for

6. Ordinary resolution 6

Issuer

yes

for

7. Ordinary resolution 7

Issuer

yes

for

8. Ordinary resolution 8

Issuer

yes

for

9. Special resolution 9

Issuer

yes

for

10. Special resolution 10

Issuer

yes

for

Openwave System

OPWV

683718100

10/1/2003

1. Approve a reverse stock split.

Issuer

yes

against

Inc.

Liquid Audio, Inc.

LQID

53631T102

9/23/2003

1. Election of directors

Issuer

abstain

2. Approve name change

Issuer

yes

for

3. Approve reverse stock split

Issuer

yes

for

4. Approve forward stock split

Issuer

yes

for

5. Ratify appointment of independent

Issuer

yes

for

auditors and accountants.

Qiao Xing

XING

G7303A109

12/3/2003

1. Election of directors

Issuer

yes

for

Universal Telephone

Inc.

Openwave System

OPWV

683718100

11/21/2003

1. Election of directors

Issuer

yes

for

Inc.

2. Ratify appointment of independent auditors.

Issuer

yes

for

Alstom

ALS

021244108

11/18/2003

1. Appointment of new director

Issuer

yes

for

2. Authorization to issue subordinated bonds.

Issuer

yes

for

3. Authorization to issue warrants.

Issuer

yes

for

4. Authorization to increase the share with waiver

Issuer

yes

for

of preferential subscription rights.

5. Authorization to issue bonds with maintenance

Issuer

yes

for

of preferential subscription rights.

6. Authorization to issue subordinated bonds with

Issuer

yes

for

the waiver of preferential rights.

7. Cancellation of general delegation granted to

Issuer

yes

for

board.

8. Authorization to increase share capital.

Issuer

yes

for

9. Power to implement the decisions of the

Issuer

yes

for

shareholders' meeting and to complete formalities.

Micron Technology

595112103

11/21/2003

1. Election of directors

Issuer

abstain

Inc.

2. Proposal to approve amendment to company's

Issuer

yes

for

employee stock purchase plan.

3. Proposal to approve amendment to company's

Issuer

yes

for

stock option plan.

4. Ratify appointment of independent accountants.

Issuer

yes

for

Sun Microsystems

SUNW

866810104

11/13/2003

1. Election of directors

Issuer

abstain

Inc.

2. Proposal to approve amendment to company's

Issuer

yes

against

employee stock purchase plan.

3. Ratify appointment of independent auditors.

Issuer

yes

for

4. Proposal requesting implementation of "China

yes

against

for

Business Principles for Rights of Workers in

China."

Accessity Corp.

ACTY

00433F103

12/15/2003

1. Election of director.

Issuer

yes

for

2. Approve a reverse stock split.

Issuer

yes

for

3. Approve selection of auditors.

Issuer

yes

for

Mips Technologies,

MIPS

604567107

11/12/2003

2. Ratify appointment of independent auditor.

Issuer

yes

for

Inc.

3. Consolidate class A common stock and class B

Issuer

yes

for

common stock into a single class of common stock.

Solectron Corporation

SLR

834182107

1/7/2004

1. Election of directors

Issuer

yes

for

2. Approve an amendment to stock option plan.

Issuer

yes

for

3. Ratify appointment of independent auditor.

Issuer

yes

for

Lucent Technologies

549463107

2/18/2004

1. Election of directors

Issuer

yes

for

Inc.

2. Declassify board and to allow removal of

Issuer

yes

for

directors without cause.

3. Approve equity compensation plan for non-

Issuer

yes

for

employee directors.

4. Approve a reverse stock split.

Issuer

yes

for

5. Shareowner proposal to require shareowner

yes

for

against

approval of severance agreements.

6. Shareowner proposal to discontinue executive

yes

for

against

equity compensation programs.

The Shaw Group, Inc.

SGR

820280105

1/30/2004

1. Election of directors

Issuer

yes

for

2. Approve an amendment to employee incentive

Issuer

yes

for

compensation plan.

3. Approve an amendment to non-employee director

Issuer

yes

for

stock option plan.

4. In their discretion, the proxies are authorized to

Issuer

yes

for

vote upon other business as they come before the

meeting.

Hemosol, Inc.

HMSL

42369K102

1/22/2004

1. Authorize the company to issue by private

Issuer

yes

for

placement additional common shares.

2. Approve an amendment to consolidate shares.

Issuer

yes

for

Innovex, Inc.

INVX

457647105

1/20/2004

2. Election of directors

Issuer

yes

for

1. Approve amendment to by-laws.

Issuer

yes

for

3. Approve amendment to stock option plan.

Issuer

yes

for

4. Approve amendment to employee stock

Issuer

yes

for

purchase plan.

5. Ratify appointment of independent accountants.

Issuer

yes

for

Eagle Broadband, Inc.

EAG

269437109

2/17/2004

1. Election of directors

Issuer

yes

for

2. Approve an addition to company's article of

Issuer

yes

for

incorporation the percentage of vote required to

amend articles.

3. Approve an amendment to limit the calling of

Issuer

yes

for

special meetings.

4. Approve the increase of common stock shares.

Issuer

yes

for

5. Ratify appointment of independent accountants.

Issuer

yes

for

Luby's Inc.

LUB

549282101

2/26/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent accountants.

Issuer

yes

for

3. Nonbinding shareholder proposal to declassify

yes

against

for

elections of directors.

4. In their discretion, proxies authorized to vote on

Issuer

yes

for

business as they come before the meeting.

Innovative Solutions

ISSC

45769N105

2/26/2004

1. Election of directors

Issuer

yes

for

and Support, Inc.

2. Approval of restricted stock plan for

Issuer

yes

for

non-employee directors.

Applied Innovation,Inc.

AINN

037916103

4/22/2004

1. Election of directors

Issuer

yes

for

Hemosol, Inc.

HMSL

42369K102

4/20/2004

1. Election of directors

Issuer

yes

for

2. Appointment of auditors and to fix auditor's

Issuer

yes

for

remuneration.

3. Approve a plan of arrangement involving

Issuer

yes

for

Hemosol, its security holders and MDS, Inc.

4. Approve an amendment to stock option plan.

Issuer

yes

for

5. Approve a stock option plan for the new

Issuer

yes

for

Hemosol.

6. Approve an amendment to rename Hemosol.

Issuer

yes

for

Taser International

TASR

87651B104

4/29/2004

1. Election of directors

Issuer

yes

for

Inc.

2. Approve the stock option plan.

Issuer

yes

for

3. Approve the outside directors stock option plan.

Issuer

yes

for

4. Ratify appointment of independent auditors.

Issuer

yes

for

J2 Global

JCOM

46626E205

4/28/2004

1. Election of directors

Issuer

yes

for

Communication, Inc.

2. Ratify appointment of independent auditors.

Issuer

yes

for

3. To transact business as they come before

meetings or any postponements or adjournments.

Issuer

yes

for

Oregon Steel Mills, Inc

686079104

4/29/2004

1. Election of directors

Issuer

yes

for

2. Proposal to hire proxy advisory firm.

yes

against

for

Infospace, Inc.

INSP

45678T201

5/10/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent auditors.

Issuer

yes

for

AU Optronics Corp

AUO

00 2255107

4/29/2004

3. Election of directors

Issuer

yes

for

1. Acceptance of business report and financial

Issuer

yes

for

statements.

2. Approval of revisions to articles of incorporation

Issuer

yes

for

4. Approval of distribution of profits.

Issuer

yes

for

5. Approval of capitalization of dividends and

Issuer

yes

for

employee stock bonus.

6. Approval to new rights issue to sponsor

Issuer

yes

for

direct offering.

7. Approval to release directors from noncompetition

Issuer

yes

for

restrictions.

Rocky Shoes & Boots

RCKY

774830103

5/11/2004

1. Election of directors

Issuer

yes

for

Inc,

2. Approve and adopt stock incentive plan.

Issuer

yes

for

American Ecology

ECOL

025533407

5/20/2004

1. Election of directors

Issuer

yes

for

Corp

2. Ratify appointment of independent auditors.

Issuer

yes

for

CV Therapeutics, Inc.

CVTX

126667104

5/26/2004

1. Election of directors

Issuer

yes

for

2. Approve amendment and restatement of equity

Issuer

yes

for

incentive plan.

3. Ratify appointment of independent auditors.

Issuer

yes

for

PMA Capital

PMACA

693419202

5/12/2004

1. Election of directors

Issuer

yes

for

Corporation

2. Approval of directors stock compensation plan.

Issuer

yes

for

3. Ratify appointment of independent auditors.

Issuer

yes

for

Cambior, Inc.

CBJ

13201L103

5/12/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent auditors.

Issuer

yes

for

Gateway, Inc.

GTW

367626108

5/20/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent accountants.

Issuer

yes

for

3. Stockholder proposal to require political

yes

for

against

contribution disclosures.

4. Stockholder proposal to require a majority vote

yes

for

against

for the election of directors.

5. Stockholder proposal seeking board diversity.

yes

against

for

Sandisk Corporation

SNDK

80004C101

5/20/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent accountants.

Issuer

yes

for

Viisage Technology

VISG

92675K106

5/20/2004

1. Election of directors

Issuer

yes

for

Inc.

2. Approve amendment to management stock option

Issuer

yes

for

plan and to permit directors employed by company

to receive option grants.

3. Approve amendment to directors stock option

Issuer

yes

for

plan.

4. Approve increase of common stocks.

Issuer

yes

for

5. Ratify appointment of independent accountants.

Issuer

yes

for

Northgate Exploration

NXG

666416102

5/14/2004

1. Election of directors

Issuer

yes

for

Limited

2. Ratify appointment of independent auditors.

Issuer

yes

for

3. Authorize the board to fix the auditor's

Issuer

yes

for

remuneration.

4. Approve change of name.

Issuer

yes

for

5. Approving, ratifying and confirming a

Issuer

yes

for

shareholder rights plan.

The Bombay Company

BBA

097924104

5/26/2004

1. Election of directors

Issuer

yes

for

Inc.

2. Ratify appointment of independent auditors.

Issuer

yes

for

Universal Stainless &

USAP

913837100

5/18/2004

1. Election of directors

Issuer

yes

for

Alloy Products, Inc.

2. Ratify appointment of independent accountants.

Issuer

yes

for

Airtran Holdings, Inc

AAI

00949P108

5/20/2004

1. Election of directors

Issuer

yes

for

Curative Health

CURE

23126W100

6/2/2004

1. Election of directors

Issuer

yes

for

Services, Inc.

2. Ratify appointment of independent auditors.

Issuer

yes

for

Arrhythmia Research

HRT

042698308

5/14/2004

1. Election of directors

Issuer

yes

for

Technology, Inc.

2. Ratify appointment of independent accountants.

Issuer

yes

for

The Nautilus Group Inc

NLS

63910B102

6/7/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent auditors.

Issuer

yes

for

Golden Star

GSS

38119T104

5/20/2004

1. Election of directors

Issuer

yes

for

Resources, LTD

2. Ratify, confirm and approve shareholder

Issuer

yes

for

protection rights plan.

3. Approve amendments to stock option plan.

Issuer

yes

for

4. Ratify appointment of independent auditors and

Issuer

yes

for

to authorize board to fix auditor's remuneration.

ON2 Technologies

ONT

68338A107

5/21/2004

1. Election of directors

Issuer

yes

for

Inc.

2. Ratify appointment of independent accountants.

Issuer

yes

for

3. Authorize to increase the number of common

Issuer

yes

for

stocks.

Intervideo, Inc.

IVII

46114Y101

5/31/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent auditors.

Issuer

yes

for

International Steel

ISG

460377104

5/26/2004

1. Election of directors

Issuer

yes

for

Group, Inc.

2. Ratify appointment of independent accountants.

Issuer

yes

for

Easylink Services

EASY

27784T200

6/15/2004

1. Election of directors

Issuer

yes

for

Corporation

2. Approve stock and incentive plan.

Issuer

yes

for

Ventiv Health, Inc.

VTIV

922793104

6/16/2004

1. Election of directors

Issuer

yes

for

2. Approve amendments to stock incentive plan &

Issuer

yes

for

to provide for the issuance of restricted stock units.

3. Ratify appointment of independent auditors.

Issuer

yes

for

Innovative Companies

GORX

45771Y107

5/18/2004

1. Election of directors

Issuer

yes

for

Inc.

2. Approve amendments to employee stock

Issuer

yes

for

option plan.

3. Approve amendments to non-employee

Issuer

yes

for

stock option plan.

4. Ratify change of name of the company.

Issuer

yes

for

5. Ratify selection of Brimmer, Burek & Keelan

Issuer

yes

for

6. Approve the possible issuance of common stock

Issuer

yes

for

in a private placement.

7. Approve the possible issuance of common stock

Issuer

yes

for

in a private placement.

Wave Systems

WAVX

943526103

6/21/2004

1. Election of directors

Issuer

yes

for

Corp

2. Approve amendments to employee stock

Issuer

yes

for

option plan.

3. Approve amendments to non-employee

Issuer

yes

for

directors stock option plan.

Sigma Designs, Inc.

SIGM

826565103

6/18/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent auditors.

Issuer

yes

for

Orthodontic Centers

OCA

68750P103

5/27/2004

1. Election of directors

Issuer

yes

for

of America, Inc.

2. Ratify appointment of independent auditors.

Issuer

yes

for

Ligand Pharmaceutical

LGND

53220K207

6/11/2004

1. Election of directors

Issuer

yes

for

Incorporated

2. Approve amendment to stock option/stock

Issuer

yes

for

issuance plan.

3. Approve company's amended &

Issuer

yes

for

restated certificate of incorporation.

4. Ratify appointment of independent auditors.

Issuer

yes

for

Biovail Corporation

BVF

09067J109

6/25/2004

1. Election of directors

Issuer

yes

for

2. Ratify appointment of independent auditors.

Issuer

yes

for

3. Approve the implementation of a new stock

Issuer

yes

for

option plan.

Nam Tai Electronics

NTE

629865205

6/11/2004

1. Election of directors

Issuer

yes

withhold all

Inc.

2. Ratify appointment of independent accountants.

Issuer

yes

for

Daugherty Resources

NGAS

238215107

6/24/2004

7. Election of directors

Issuer

yes

for

Inc.

1. Approval of a resolution authorizing a transition

Issuer

yes

for

under a new British Columbia business corporation

act and change of name.

2. Approval of increasing the quorum requirement

Issuer

yes

for

for shareholder meetings.

3. Approval of reducing the supermajority

Issuer

yes

for

threshold.

4. Approval to create one or more series of

Issuer

yes

for

preferred shares with special rights or restrictions.

5. Approval of the incentive stock award and

Issuer

yes

for

stock option plan.

6. Fix board size to four.

Issuer

yes

for

8. Ratify appointment of independent auditors.

Issuer

yes

for

SIGNATURES

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.

BIRMIWAL INVESTMENT TRUST

By: /s/ Kailash Birmiwal, PRESIDENT

(Signature, Title)

Date: 8/19/2004

Birmiwal Investment Trust Inactive N-PXAnnual report of proxy voting record