Putnam OTC Emerging Growth Fund NPX Annual report of proxy voting record

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-3512

Putnam OTC & Emerging Growth Fund
- -------------------------------------------------------------------------
  (Exact name of registrant as specified in charter)

One Post Office Square

Boston, Massachusetts 02109
- -------------------------------------------------------------------------
  (Address of principal executive offices)

Beth S. Mazor, Vice President

Putnam OTC & Emerging Growth Fund

One Post Office Square

Boston, Massachusetts 02109



Copy to:

John W. Gerstmayr, Esq.

Ropes & Gray LLP

One International Place

Boston, Massachusetts 02110
- -------------------------------------------------------------------------
  (Name and address of agent for service)


Registrant's telephone number, including area code: (617) 292-1000

Date of Fiscal year-end: 7/31/2005

Date of reporting period: 7/1/2004 - 6/30/2005

Item 1. Proxy Voting Record

Account Number: Putnam OTC & Emerging Growth Fund

ISSUER NAME		TICKER	CUSIP	MTG DATE	MTG TYPE
				Proposal Type	Voted	Vote	For/Agnst Mgmt
*7-Eleven Inc*		SE	*817826209*	*4/27/05*	*Annual*
1.01	Elect Toshifumi Suzuki			MGMT	YES	FOR	FOR
1.02	Elect Yoshitami Arai			MGMT	YES	FOR	FOR
1.03	Elect Masaaki Asakura			MGMT	YES	FOR	FOR
1.04	Elect Jay W. Chai			MGMT	YES	FOR	FOR
1.05	Elect R. Randolph Devening			MGMT	YES	FOR	FOR
1.06	Elect Gary J. Fernandes			MGMT	YES	FOR	FOR
1.07	Elect Masaaki Kamata			MGMT	YES	FOR	FOR
1.08	Elect James W. Keyes			MGMT	YES	FOR	FOR
1.09	Elect Kazuo Otsuka			MGMT	YES	FOR	FOR
1.10	Elect Lewis E. Platt			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Add shares to the Stock Compensation Plan for Non-Employee Directors			MGMT	YES	FOR	FOR
	Amend Director Stock Incentive Plan
5.00	Approve other business			MGMT	YES	AGNST	AGNST

*Abercrombie & Fitch*		*ANF*	*002896207*	*6/15/05*	*Annual*
1.01	Elect Russell M. Gertmenian			MGMT	YES	WHOLD	AGNST
1.02	Elect Archie M. Griffin			MGMT	YES	WHOLD	AGNST
1.03	Elect Allan A. Tuttle			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Long-Term Incentive Plan			MGMT	YES	AGNST	AGNST

*Advance Auto Parts*		*AAP*	*00751Y106*	*5/18/05*	*Annual*
1.01	Elect John C. Brouillard			MGMT	YES	FOR	FOR
1.02	Elect Lawrence P. Castellani			MGMT	YES	FOR	FOR
1.03	Elect Michael N. Coppola			MGMT	YES	FOR	FOR
1.04	Elect Darren R. Jackson			MGMT	YES	FOR	FOR
1.05	Elect William S. Oglesby			MGMT	YES	FOR	FOR
1.06	Elect Gilbert T. Ray			MGMT	YES	FOR	FOR
1.07	Elect Carlos A. Saladrigas			MGMT	YES	FOR	FOR
1.08	Elect William L. Salter			MGMT	YES	FOR	FOR
1.09	Elect Francesca Spinelli			MGMT	YES	FOR	FOR
1.10	Elect Nicholas F. Taubman			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt sexual orientation anti-bias policy			SHLDR	YES	AGNST	FOR

*Alliance Data Systems*		*ADS*	*018581108*	*6/7/05*	*Annual*
1.01	Elect Bruce K. Anderson			MGMT	YES	FOR	FOR
1.02	Elect Roger H. Ballou			MGMT	YES	FOR	FOR
1.03	Elect E. Linn Draper Jr.			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Long Term Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt the Executive Annual Incentive Plan			MGMT	YES	FOR	FOR
4.00	Adopt the Employee Stock Purchase Plan			MGMT	YES	FOR	FOR

*Alliant Techsystems Inc*		*ATK*	*018804104*	*8/3/04*	*Annual*
1.01	Elect Frances D. Cook			MGMT	YES	FOR	FOR
1.02	Elect Gilbert F. Decker			MGMT	YES	FOR	FOR
1.03	Elect Ronald R. Fogleman			MGMT	YES	FOR	FOR
1.04	Elect Jonathan G. Guss			MGMT	YES	FOR	FOR
1.05	Elect David E. Jeremiah			MGMT	YES	FOR	FOR
1.06	Elect Roman Martinez IV			MGMT	YES	FOR	FOR
1.07	Elect Paul D. Miller			MGMT	YES	FOR	FOR
1.08	Elect Daniel J. Murphy Jr.			MGMT	YES	FOR	FOR
1.09	Elect Robert W. RisCassi			MGMT	YES	FOR	FOR
1.10	Elect Michael T. Smith			MGMT	YES	FOR	FOR
1.11	Elect William G. Van Dyke			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR
3.00	Review Space Weapons			SHLDR	YES	AGNST	FOR

*Amdocs Ltd*		*DOX*	*G02602103*	*1/20/05*	*Annual*
1.01	Elect Bruce K. Anderson			MGMT	YES	AGNST	AGNST
1.02	Elect Adrian Gardner			MGMT	YES	AGNST	AGNST
1.03	Elect Dov Baharav			MGMT	YES	AGNST	AGNST
1.04	Elect Julian A. Brodsky			MGMT	YES	AGNST	AGNST
1.05	Elect Charles E. Foster			MGMT	YES	AGNST	AGNST
1.06	Elect Eli Gelman			MGMT	YES	AGNST	AGNST
1.07	Elect James S. Kahan			MGMT	YES	AGNST	AGNST
1.08	Elect Nehemia Lemelbaum			MGMT	YES	AGNST	AGNST
1.09	Elect John T. McLennan			MGMT	YES	AGNST	AGNST
1.10	Elect Robert A. Minicucci			MGMT	YES	AGNST	AGNST
1.11	Elect Simon Olswang			MGMT	YES	AGNST	AGNST
1.12	Elect Mario Segal			MGMT	YES	AGNST	AGNST
2.00	Approve financial statements			MGMT	YES	FOR	FOR
3.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR

*Ameristar Casinos Inc*		*ASCA*	*03070Q101*	*6/17/05*	*Annual*
1.01	Elect Larry A. Hodges			MGMT	YES	WHOLD	AGNST
2.00	Add shares to the 1999 Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*Ameritrade Holding Corp*		*AMTD*	*03074K100*	*2/16/05*	*Annual*
1.01	Elect J. Joe Ricketts			MGMT	YES	WHOLD	AGNST
1.02	Elect Daniel W. Cook III			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	AGNST	AGNST
3.00	Approve other business			MGMT	YES	AGNST	AGNST

*Amylin Pharmaceuticals*			*032346108*	*5/25/05*	*Annual*
1.01	Elect Vaughn D. Bryson			MGMT	YES	FOR	FOR
1.02	Elect Joseph C. Cook Jr.			MGMT	YES	FOR	FOR
1.03	Elect Ginger L. Graham			MGMT	YES	FOR	FOR
1.04	Elect Howard E. Greene Jr.			MGMT	YES	FOR	FOR
1.05	Elect Terrance H. Gregg			MGMT	YES	FOR	FOR
1.06	Elect Jay S. Skyler			MGMT	YES	FOR	FOR
1.07	Elect Joseph P. Sullivan			MGMT	YES	FOR	FOR
1.08	Elect Thomas R. Testman			MGMT	YES	FOR	FOR
1.09	Elect James N. Wilson			MGMT	YES	FOR	FOR
2.00	Add shares to the 2001 Equity Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Arbitron Inc*		*ARB*	*03875Q108*	*5/24/05*	*Annual*
1.01	Elect Alan W Aldworth			MGMT	YES	FOR	FOR
1.02	Elect Erica Farber			MGMT	YES	FOR	FOR
1.03	Elect Philip Guarascio			MGMT	YES	FOR	FOR
1.04	Elect Larry E. Kittelberger			MGMT	YES	FOR	FOR
1.05	Elect Stephen B. Morris			MGMT	YES	FOR	FOR
1.06	Elect Luis G. Nogales			MGMT	YES	FOR	FOR
1.07	Elect Lawrence Perlman			MGMT	YES	FOR	FOR
1.08	Elect Richard A. Post			MGMT	YES	FOR	FOR

*Aspect Communications Corp*		*ASPT*	*04523Q102*	*5/19/05*	*Annual*
1.01	Elect Barry M. Ariko			MGMT	YES	WHOLD	AGNST
1.02	Elect Gary E. Barnett			MGMT	YES	WHOLD	AGNST
1.03	Elect Thomas Weatherford			MGMT	YES	WHOLD	AGNST
1.04	Elect David B. Wright			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Atmel Corp*		*ATML*	*049513104*	*5/11/05*	*Annual*
1.01	Elect George Perlegos			MGMT	YES	FOR	FOR
1.02	Elect Gust Perlegos			MGMT	YES	FOR	FOR
1.03	Elect Tsung-Ching Wu			MGMT	YES	FOR	FOR
1.04	Elect T. Peter Thomas			MGMT	YES	FOR	FOR
1.05	Elect Norman T. Hall			MGMT	YES	FOR	FOR
1.06	Elect Pierre Fougere			MGMT	YES	FOR	FOR
1.07	Elect Chaiho Kim			MGMT	YES	FOR	FOR
1.08	Elect David M. Sugishita			MGMT	YES	FOR	FOR
2.00	Extend Term of Stock Incentive Plan			MGMT	YES	FOR	FOR
	Amend Stock Incentive Plan
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Autodesk Inc*		*ADSK*	*052769106*	*6/23/05*	*Annual*
1.01	Elect Carol A. Bartz			MGMT	YES	FOR	FOR
1.02	Elect Mark A. Bertelsen			MGMT	YES	FOR	FOR
1.03	Elect Crawford W. Beveridge			MGMT	YES	FOR	FOR
1.04	Elect J. Hallam Dawson			MGMT	YES	FOR	FOR
1.05	Elect Michael J. Fister			MGMT	YES	FOR	FOR
1.06	Elect Per-Kristian Halvorsen			MGMT	YES	FOR	FOR
1.07	Elect Steven L. Scheid			MGMT	YES	FOR	FOR
1.08	Elect Mary Alice Taylor			MGMT	YES	FOR	FOR
1.09	Elect Larry W. Wangberg			MGMT	YES	FOR	FOR
2.00	Adopt the 2006 Stock Plan			MGMT	YES	AGNST	AGNST
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR
4.00	Adopt the Executive Incenitve Plan			MGMT	YES	FOR	FOR
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Autoliv Inc*		*ALV*	*052800109*	*4/26/05*	*Annual*
1.01	Elect Sune Carlsson			MGMT	YES	FOR	FOR
1.02	Elect S. Jay Stewart			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Bard (CR) Inc*		*BCR*	*067383109*	*4/20/05*	*Annual*
1.01	Elect T. Kevin Dunnigan			MGMT	YES	FOR	FOR
1.02	Elect Gail K. Naughton			MGMT	YES	FOR	FOR
1.03	Elect John H. Weiland			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Monitor/adopt ILO conventions			SHLDR	YES	AGNST	FOR

*Bausch & Lomb Inc*		*BOL*	*071707103*	*4/26/05*	*Annual*
1.01	Elect Paul A. Friedman			MGMT	YES	FOR	FOR
1.02	Elect Jonathan S. Linen			MGMT	YES	FOR	FOR
1.03	Elect William H. Waltrip			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.01	Repeal classified board			MGMT	YES	FOR	FOR
3.02	Approve non-technical charter amendments			MGMT	YES	FOR	FOR
3.03	No shareholder approval to fill vacancy			MGMT	YES	FOR	FOR
3.04	Removal of directors			MGMT	YES	FOR	FOR
3.05	Eliminate supermajority lock-in			MGMT	YES	FOR	FOR

*Beckman Coulter Inc*		*BEC*	*075811109*	*4/7/05*	*Annual*
1.01	Elect Hugh K. Coble			MGMT	YES	FOR	FOR
1.02	Elect Kevin M. Farr			MGMT	YES	FOR	FOR
1.03	Elect Van B. Honeycutt			MGMT	YES	FOR	FOR
1.04	Elect Betty Woods			MGMT	YES	FOR	FOR
2.00	Increase authorized common stock			MGMT	YES	FOR	FOR

*Berkley (W R) Corp*		*BER*	*084423102*	*5/10/05*	*Annual*
1.01	Elect Rodney A. Hawes Jr.			MGMT	YES	FOR	FOR
1.02	Elect Jack H. Nusbaum			MGMT	YES	FOR	FOR
1.03	Elect Mark L. Shapiro			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*BJ's Wholesale Club Inc*		BJ	*05548J106*	*5/26/05*	*Annual*
1.01	Elect Paul Danos			MGMT	YES	FOR	FOR
1.02	Elect Ronald R. Dion			MGMT	YES	FOR	FOR
1.03	Elect Lorne R. Waxlax			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Blyth Inc*		*BTH*	*09643P108*	*6/8/05*	*Annual*
1.01	Elect John W. Burkhart			MGMT	YES	FOR	FOR
1.02	Elect Wilma H. Jordan			MGMT	YES	FOR	FOR
1.03	Elect James M. McTaggart			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*BorgWarner Inc*		*BWA*	*099724106*	*4/27/05*	*Annual*
1.01	Elect Robin J. Adams			MGMT	YES	FOR	FOR
1.02	Elect David T. Brown			MGMT	YES	FOR	FOR
1.03	Elect Paul E. Glaske			MGMT	YES	FOR	FOR
1.04	Elect John Rau			MGMT	YES	FOR	FOR
2.00	Approve annual bonus plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Calamos Asset Management Inc*		*CLMS*	*12811R104*	*6/7/05*	*Annual*
1.01	Elect Arthur L. Knight			MGMT	YES	FOR	FOR
1.02	Elect G. Bradford Bulkley			MGMT	YES	FOR	FOR
1.03	Elect Richard W. Gilbert			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Career Education Corp*		*CECO*	*141665109*	*5/20/05*	*Annual*
1.01	Elect Dennis H. Chookaszian			MGMT	NO
	Elect Dennis H. Chookaszian
1.02	Elect Robert E. Dowdell			MGMT	NO
	Elect Robert E. Dowdell
1.03	Elect Patrick K. Pesch			MGMT	NO
	Elect Patrick K. Pesch
2.00	Ratify selection of auditors			MGMT	NO
	Ratify selection of auditors

*Career Education Corp*		*CECO*	*141665109*	*5/20/05*	*Annual*
1.01	Elect Dennis H. Chookaszian			MGMT	YES	WHOLD	AGNST
1.02	Elect Robert E. Dowdell			MGMT	YES	WHOLD	AGNST
1.03	Elect Patrick K. Pesch			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Repeal classified board			SHLDR	YES	FOR	AGNST
4.00	Restore right to call a special meeting			SHLDR	YES	FOR	AGNST
5.00	Redeem or vote on poison pill			SHLDR	YES	FOR	AGNST

*Catapult Communications Corp*		*CATT*	*149016107*	*1/25/05*	*Annual*
1.01	Elect Peter S. Cross			MGMT	YES	WHOLD	AGNST
1.02	Elect Nancy H. Karp			MGMT	YES	WHOLD	AGNST
1.03	Elect Richard A. Karp			MGMT	YES	WHOLD	AGNST
1.04	Elect Henry P. Massey Jr.			MGMT	YES	WHOLD	AGNST
1.05	Elect John M. Scandalios			MGMT	YES	WHOLD	AGNST
1.06	Elect Charles L. Waggoner			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	AGNST	AGNST
3.00	Approve other business			MGMT	YES	AGNST	AGNST

*CEC Entertainment Inc*		*CEC*	*125137109*	*5/19/05*	*Annual*
1.01	Elect Richard T. Huston			MGMT	YES	FOR	FOR
1.02	Elect Cynthia I. Pharr Lee			MGMT	YES	FOR	FOR
1.03	Elect Raymond E. Wooldridge			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the Non-Employee Directors Restricted Stock Plan			MGMT	YES	AGNST	AGNST

*Celgene*			*151020104*	*6/15/05*	*Annual*
1.01	Elect John W. Jackson			MGMT	YES	FOR	FOR
1.02	Elect Sol J. Barer			MGMT	YES	FOR	FOR
1.03	Elect Robert J. Hugin			MGMT	YES	FOR	FOR
1.04	Elect Jack L. Bowman			MGMT	YES	FOR	FOR
1.05	Elect Frank T. Cary			MGMT	YES	FOR	FOR
1.06	Elect Michael D. Casey			MGMT	YES	WHOLD	AGNST
1.07	Elect Arthur H. Hayes Jr.			MGMT	YES	FOR	FOR
1.08	Elect Gilla Kaplan			MGMT	YES	FOR	FOR
1.09	Elect Richard C.E. Morgan			MGMT	YES	FOR	FOR
1.10	Elect Walter L. Robb			MGMT	YES	FOR	FOR
2.00	Add shares to the 1998 Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt the 1995 Non-Employee Directors' Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Cephalon Inc*		*CEPH*	*156708109*	*5/18/05*	*Annual*
1.01	Elect Frank Baldino Jr.			MGMT	YES	FOR	FOR
1.02	Elect William P. Egan			MGMT	YES	FOR	FOR
1.03	Elect Martyn D. Greenacre			MGMT	YES	FOR	FOR
1.04	Elect Vaughn M. Kailian			MGMT	YES	FOR	FOR
1.05	Elect Charles A. Sanders			MGMT	YES	FOR	FOR
1.06	Elect Gail R. Wilensky			MGMT	YES	FOR	FOR
1.07	Elect Dennis Winger			MGMT	YES	FOR	FOR
1.08	Elect Horst Witzel			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Chicago Mercantile Exchange Holdings*		*CME*	*167760107*	*4/27/05*	*Annual*
1.01	Elect Craig S. Donohue			MGMT	YES	WHOLD	AGNST
1.02	Elect Terrence A. Duffy			MGMT	YES	WHOLD	AGNST
1.03	Elect Daniel R. Glickman			MGMT	YES	WHOLD	AGNST
1.04	Elect William P. Miller II			MGMT	YES	WHOLD	AGNST
1.05	Elect James E. Oliff			MGMT	YES	WHOLD	AGNST
1.06	Elect John F. Sandner			MGMT	YES	WHOLD	AGNST
1.07	Elect Terry L. Savage			MGMT	YES	WHOLD	AGNST
2.00	Adopt Director Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Adopt employee stock purchase plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Citrix Systems Inc*		*CTXS*	*177376100*	*5/5/05*	*Annual*
1.01	Elect Murray J. Demo			MGMT	YES	FOR	FOR
1.02	Elect John W. White			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt employee stock purchase plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Claire's Stores Inc*		*CLE*	*179584107*	*6/28/05*	*Annual*
1.01	Elect Marla L. Schaefer			MGMT	YES	FOR	FOR
1.02	Elect E. Bonnie Schaefer			MGMT	YES	FOR	FOR
1.03	Elect Ira D. Kaplan			MGMT	YES	FOR	FOR
1.04	Elect Bruce G. Miller			MGMT	YES	FOR	FOR
1.05	Elect Steven H. Tishman			MGMT	YES	FOR	FOR
1.06	Elect Ann Spector Lieff			MGMT	YES	FOR	FOR
1.07	Elect Martha Clark Goss			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Incentive Compensation Plan			MGMT	YES	FOR	FOR
3.00	Review or implement MacBride principles			SHLDR	YES	FOR	AGNST

*Cognos Inc*			*19244C109*	*6/23/05*	*Annual*
1.01	Elect Robert G. Ashe			MGMT	YES	FOR	FOR
1.02	Elect John E. Caldwell			MGMT	YES	FOR	FOR
1.03	Elect Paul D. Damp			MGMT	YES	FOR	FOR
1.04	Elect Pierre Y. DuCros			MGMT	YES	FOR	FOR
1.05	Elect Robert W. Korthals			MGMT	YES	FOR	FOR
1.06	Elect John J. Rando			MGMT	YES	FOR	FOR
1.07	Elect Bill V. Russell			MGMT	YES	FOR	FOR
1.08	Elect James M. Tory			MGMT	YES	FOR	FOR
1.09	Elect Renato Zambonini			MGMT	YES	FOR	FOR
2.00	Appoint auditors and set their fees			MGMT	YES	FOR	FOR
3.00	Amend stock option plan			MGMT	YES	AGNST	AGNST
4.00	Amend executive profit sharing/bonus plan			MGMT	YES	AGNST	AGNST
5.00	Amend stock purchase plan/SAYE/AESOP			MGMT	YES	FOR	FOR

*Commerce Bancorp Inc*		*CBH*	*200519106*	*5/17/05*	*Annual*
1.01	Elect Vernon W. Hill II			MGMT	YES	FOR	FOR
1.02	Elect Jack R. Bershad			MGMT	YES	FOR	FOR
1.03	Elect Joseph E. Buckelew			MGMT	YES	FOR	FOR
1.04	Elect Donald T. DiFrancesco			MGMT	YES	FOR	FOR
1.05	Elect Morton N. Kerr			MGMT	YES	FOR	FOR
1.06	Elect Steven M. Lewis			MGMT	YES	FOR	FOR
1.07	Elect John K Lloyd			MGMT	YES	FOR	FOR
1.08	Elect George E. Norcross III			MGMT	YES	FOR	FOR
1.09	Elect Daniel J. Ragone			MGMT	YES	FOR	FOR
1.10	Elect William A. Schwartz Jr.			MGMT	YES	FOR	FOR
1.11	Elect Joseph T. Tarquini Jr.			MGMT	YES	FOR	FOR
1.12	Elect Joseph S. Vassalluzzo			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Compass Bancshares Inc*		*CBSS*	*20449H109*	*4/18/05*	*Annual*
1.01	Elect James H. Click Jr.			MGMT	YES	FOR	FOR
1.02	Elect Tranum Fitzpatrick			MGMT	YES	FOR	FOR
1.03	Elect John S. Stein			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Comverse Technology Inc*		*CMVT*	*205862402*	*6/16/05*	*Annual*
1.01	Elect Kobi Alexander			MGMT	YES	FOR	FOR
1.02	Elect Raz Alon			MGMT	YES	FOR	FOR
1.03	Elect Itsik Danziger			MGMT	YES	FOR	FOR
1.04	Elect John H. Friedman			MGMT	YES	FOR	FOR
1.05	Elect Ron Hiram			MGMT	YES	FOR	FOR
1.06	Elect Sam Oolie			MGMT	YES	FOR	FOR
1.07	Elect William F. Sorin			MGMT	YES	FOR	FOR
2.00	Adopt the 2004 Stock Incentive Compensation Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Connetics Corp*		*CNCT*	*208192104*	*4/22/05*	*Annual*
1.01	Elect Alexander E. Barkas			MGMT	YES	WHOLD	AGNST
1.02	Elect Eugene A. Bauer			MGMT	YES	WHOLD	AGNST
1.03	Elect R. Andrew Eckert			MGMT	YES	FOR	FOR
1.04	Elect Denise M. Gilbert			MGMT	YES	FOR	FOR
1.05	Elect John C. Kane			MGMT	YES	FOR	FOR
1.06	Elect Thomas D. Kiley			MGMT	YES	FOR	FOR
1.07	Elect Leon E. Panetta			MGMT	YES	WHOLD	AGNST
1.08	Elect G. Kirk Raab			MGMT	YES	WHOLD	AGNST
1.09	Elect Thomas G. Wiggans			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*CONSOL Energy Inc*		*CNX*	*20854P109*	*5/3/05*	*Annual*
1.01	Elect John L. Whitmire			MGMT	YES	FOR	FOR
1.02	Elect J. Brett Harvey			MGMT	YES	FOR	FOR
1.03	Elect James E. Altmeyer Sr.			MGMT	YES	FOR	FOR
1.04	Elect Philip W. Baxter			MGMT	YES	FOR	FOR
1.05	Elect William E. Davis			MGMT	YES	FOR	FOR
1.06	Elect Raj K. Gupta			MGMT	YES	FOR	FOR
1.07	Elect Patricia A. Hammick			MGMT	YES	FOR	FOR
1.08	Elect William P. Powell			MGMT	YES	FOR	FOR
1.09	Elect Joseph T. Williams			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to the Equity Incentive Plan			MGMT	YES	FOR	FOR
	Amend Stock Incentive Plan

*Cooper Cameron Corp*		*CAM*	*216640102*	*5/5/05*	*Annual*
1.01	Elect Peter J. Fluor			MGMT	YES	FOR	FOR
1.02	Elect David Ross III			MGMT	YES	FOR	FOR
1.03	Elect Bruce W. Wilkinson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
4.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*Coventry Health Care*		*CVH*	*222862104*	*5/19/05*	*Annual*
1.01	Elect Joel Ackerman			MGMT	YES	FOR	FOR
1.02	Elect Emerson D. Farley Jr.			MGMT	YES	FOR	FOR
1.03	Elect Lawrence N. Kugelman			MGMT	YES	FOR	FOR
1.04	Elect Dale B. Wolf			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Crown Holdings Inc*		*CCK*	*228368106*	*4/28/05*	*Annual*
1.01	Elect Jenne K. Britell			MGMT	YES	FOR	FOR
1.02	Elect John W. Conway			MGMT	YES	FOR	FOR
1.03	Elect Arnold W. Donald			MGMT	YES	WHOLD	AGNST
1.04	Elect Marie L. Garibaldi			MGMT	YES	FOR	FOR
1.05	Elect William G. Little			MGMT	YES	FOR	FOR
1.06	Elect Hans J. Loliger			MGMT	YES	FOR	FOR
1.07	Elect Thomas A. Ralph			MGMT	YES	FOR	FOR
1.08	Elect Hugues du Rouret			MGMT	YES	FOR	FOR
1.09	Elect Alan W. Rutherford			MGMT	YES	FOR	FOR
1.10	Elect Harold A. Sorgenti			MGMT	YES	FOR	FOR
1.11	Elect William S. Urkiel			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend Director Stock Incentive Plan			MGMT	YES	FOR	FOR

*Cypress Semiconductor Corp*		CY	*232806109*	*4/29/05*	*Annual*
1.01	Elect T. J. Rodgers			MGMT	YES	FOR	FOR
1.02	Elect Fred B. Bialek			MGMT	YES	FOR	FOR
1.03	Elect Eric A. Benhamou			MGMT	YES	FOR	FOR
1.04	Elect Alan F. Shugart			MGMT	YES	FOR	FOR
1.05	Elect James R. Long			MGMT	YES	FOR	FOR
1.06	Elect W. Steve Albrecht			MGMT	YES	FOR	FOR
1.07	Elect J. Daniel McCranie			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Dade Behring Holdings*		*DADE*	*23342J206*	*5/23/05*	*Annual*
1.01	Elect Richard Roedel			MGMT	YES	FOR	FOR
1.02	Elect Samuel K. Skinner			MGMT	YES	FOR	FOR
2.00	Increase authorized common stock			MGMT	YES	FOR	FOR
	Increase authorized preferred stock

*Dentsply International Inc*		*XRAY*	*249030107*	*5/11/05*	*Annual*
1.01	Elect Michael C. Alfano			MGMT	YES	FOR	FOR
1.02	Elect Eric K. Brandt			MGMT	YES	FOR	FOR
1.03	Elect William F. Hecht			MGMT	YES	FOR	FOR
1.04	Elect Francis J. Lunger			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*Donaldson Co Inc*		*DCI*	*257651109*	*11/19/04*	*Annual*
1.01	Elect William M. Cook			MGMT	YES	FOR	FOR
1.02	Elect Kendrick B. Melrose			MGMT	YES	FOR	FOR
1.03	Elect John P. Wiehoff			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Dun & Bradstreet Corp*		*DNB*	*26483E100*	*5/3/05*	*Annual*
1.01	Elect Steven Alesio			MGMT	YES	FOR	FOR
1.02	Elect Ronald L. Kuehn Jr.			MGMT	YES	FOR	FOR
1.03	Elect Naomi O. Seligman			MGMT	YES	FOR	FOR
1.04	Elect Michael J. Winkler			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Amend Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Amend Director Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*E Trade Financial Corp*		ET	*269246104*	*5/26/05*	*Annual*
1.01	Elect Mitchell H. Caplan			MGMT	YES	FOR	FOR
1.02	Elect C. Cathleen Raffaeli			MGMT	YES	FOR	FOR
1.03	Elect Daryl G. Brewster			MGMT	YES	FOR	FOR
1.04	Elect Stephen H. Willard			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Equity Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt the 2005 Executive Bonus Plan			MGMT	YES	ABSTAIN	AGNST
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Education Management Corp*		*EDMC*	*28139T101*	*11/23/04*	*Annual*
1.01	Elect Michael J. Emmi			MGMT	YES	FOR	FOR
1.02	Elect Martin L. Garcia			MGMT	YES	FOR	FOR
1.03	Elect Jerry L. Johnson			MGMT	YES	FOR	FOR
1.04	Elect Miryam L. Knutson			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Energizer Holdings Inc*		*ENR*	*29266R108*	*1/25/05*	*Annual*
1.01	Elect Ward M. Klein			MGMT	YES	FOR	FOR
1.02	Elect Richard A. Liddy			MGMT	YES	FOR	FOR
1.03	Elect Joe R. Micheletto			MGMT	YES	FOR	FOR
1.04	Elect W. Patrick McGinnis			MGMT	YES	FOR	FOR
1.05	Elect Bill G. Armstrong			MGMT	YES	FOR	FOR
1.06	Elect John C. Hunter			MGMT	YES	FOR	FOR

*Equifax Inc*		*EFX*	*294429105*	*5/17/05*	*Annual*
1.01	Elect Thomas F. Chapman			MGMT	YES	FOR	FOR
1.02	Elect James E. Copeland Jr.			MGMT	YES	FOR	FOR
1.03	Elect Lee A. Kennedy			MGMT	YES	FOR	FOR
1.04	Elect D. Raymond Riddle			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*FileNet Corp*		*FILE*	*316869106*	*5/5/05*	*Annual*
1.01	Elect L. George Klaus			MGMT	YES	FOR	FOR
1.02	Elect Lee D. Roberts			MGMT	YES	FOR	FOR
1.03	Elect John C. Savage			MGMT	YES	FOR	FOR
1.04	Elect Roger S. Siboni			MGMT	YES	FOR	FOR
1.05	Elect Theodore J. Smith			MGMT	YES	FOR	FOR
2.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*First Marblehead*		*FMD*	*320771108*	*11/18/04*	*Annual*
1.01	Elect Daniel Maxwell Meyers			MGMT	YES	WHOLD	AGNST
1.02	Elect Stephen E. Anbinder			MGMT	YES	WHOLD	AGNST
1.03	Elect Leslie L. Alexander			MGMT	YES	WHOLD	AGNST
1.04	Elect William R. Berkley			MGMT	YES	WHOLD	AGNST
1.05	Elect Dort A. Cameron III			MGMT	YES	WHOLD	AGNST
1.06	Elect George G. Daly			MGMT	YES	WHOLD	AGNST
1.07	Elect Peter S. Drotch			MGMT	YES	WHOLD	AGNST
1.08	Elect William D. Hansen			MGMT	YES	WHOLD	AGNST
2.00	Increase Authorized Common Stock			MGMT	YES	AGNST	AGNST
3.00	Approve Annual Bonus Plan			MGMT	YES	FOR	FOR
	Approve Long-Term Bonus Plan

*Freescale Semiconductor Inc*		*FSL*	*35687M107*	*4/29/05*	*Annual*
1.01	Elect H. Raymond Bingham			MGMT	YES	WHOLD	AGNST
1.02	Elect Stephen P. Kaufman			MGMT	YES	WHOLD	AGNST
2.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical charter amendments
3.00	Approve technical amendments			MGMT	YES	FOR	FOR
	Approve non-technical bylaw amendments
4.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Getty Images*			*374276AF0*	*5/3/05*	*Annual*
1.01	Elect Christopher H. Sporborg			MGMT	YES	FOR	FOR
1.02	Elect Mark H. Getty			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add Shares to Stock Incentive Plan			MGMT	YES	FOR	FOR
	Amend Stock Incentive Plan

*Heartland Express Inc*		*HTLD*	*422347104*	*5/12/05*	*Annual*
1.01	Elect Russell A. Gerdin			MGMT	YES	FOR	FOR
1.02	Elect Richard O. Jacobson			MGMT	YES	FOR	FOR
1.03	Elect Benjamin J. Allen			MGMT	YES	FOR	FOR
1.04	Elect Michael J. Gerdin			MGMT	YES	FOR	FOR
1.05	Elect Lawrence D. Crouse			MGMT	YES	FOR	FOR

*Hovnanian Enterprises Inc*		*HOV*	*442487203*	*3/8/05*	*Annual*
1.01	Elect Kevork S. Hovnanian			MGMT	YES	WHOLD	AGNST
1.02	Elect Ara K. Hovnanian			MGMT	YES	WHOLD	AGNST
1.03	Elect Geaton A. DeCesaris Jr.			MGMT	YES	WHOLD	AGNST
1.04	Elect Arthur M. Greenbaum			MGMT	YES	WHOLD	AGNST
1.05	Elect Desmond P. McDonald			MGMT	YES	WHOLD	AGNST
1.06	Elect John J. Robbins			MGMT	YES	WHOLD	AGNST
1.07	Elect J. Larry Sorsby			MGMT	YES	WHOLD	AGNST
1.08	Elect Stephen D. Weinroth			MGMT	YES	WHOLD	AGNST
1.09	Elect Edward A. Kangas			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	AGNST	AGNST

*Hughes Supply Inc*		*HUG*	*444482103*	*5/19/05*	*Annual*
1.01	Elect David H. Hughes			MGMT	YES	FOR	FOR
1.02	Elect Vincent S. Hughes			MGMT	YES	FOR	FOR
1.03	Elect Amos R. McMullian			MGMT	YES	FOR	FOR
2.00	Increase authorized common stock			MGMT	YES	FOR	FOR
	Approve non-technical charter amendments
3.00	Adopt the 2005 Executive Stock Plan			MGMT	YES	AGNST	AGNST
4.00	Adopt the 2005 Annual Incentive Plan			MGMT	YES	FOR	FOR
5.00	Approve other business			MGMT	YES	AGNST	AGNST

*Hunt (J B) Transportation Services Inc*		*JBHT*	*445658107*	*4/21/05*	*Annual*
1.01	Elect Johnelle D. Hunt			MGMT	YES	FOR	FOR
1.02	Elect Kirk Thompson			MGMT	YES	FOR	FOR
1.03	Elect Leland E. Tollett			MGMT	YES	FOR	FOR
1.04	Elect John A. White			MGMT	YES	FOR	FOR
1.05	Elect Coleman H. Peterson			MGMT	YES	FOR	FOR
2.00	Increase authorized common stock			MGMT	YES	FOR	FOR
3.00	Add Shares to Stock Incentive Plan			MGMT	YES	FOR	FOR

*Ingram Micro Inc*		IM	*457153104*	*6/1/05*	*Annual*
1.01	Elect Kent B. Foster			MGMT	YES	FOR	FOR
1.02	Elect Howard I. Atkins			MGMT	YES	FOR	FOR
1.03	Elect Martha R. Ingram			MGMT	YES	FOR	FOR
1.04	Elect Linda Fayne Levinson			MGMT	YES	FOR	FOR
1.05	Elect Kevin M. Murai			MGMT	YES	FOR	FOR
1.06	Elect Gregory M.E. Spierkel			MGMT	YES	FOR	FOR

*Integrated Device Technology Inc*		*IDTI*	*458118106*	*9/16/04*	*Annual*
1.01	Elect John C. Bolger			MGMT	YES	FOR	FOR
2.00	Adopt Stock Option Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Investors Financial Services Corp*		*IFIN*	*461915100*	*4/14/05*	*Annual*
1.01	Elect Phyllis S. Swersky			MGMT	YES	FOR	FOR
1.02	Elect Edward F. Hines Jr.			MGMT	YES	WHOLD	AGNST
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Ivax Corp*		*IVX*	*465823102*	*7/15/04*	*Annual*
1.01	Elect Betty G. Amos			MGMT	YES	FOR	FOR
1.02	Elect Mark Andrews			MGMT	YES	FOR	FOR
1.03	Elect Ernst Biekert			MGMT	YES	FOR	FOR
1.04	Elect Paul L. Cejas			MGMT	YES	FOR	FOR
1.05	Elect Jack Fishman			MGMT	YES	FOR	FOR
1.06	Elect Neil Flanzraich			MGMT	YES	FOR	FOR
1.07	Elect Phillip Frost			MGMT	YES	FOR	FOR
1.08	Elect Bruce W. Greer			MGMT	YES	FOR	FOR
1.09	Elect Jane Hsiao			MGMT	YES	FOR	FOR
1.10	Elect David A. Lieberman			MGMT	YES	FOR	FOR
1.11	Elect Richard C. Pfenniger Jr.			MGMT	YES	FOR	FOR
1.12	Elect Bertram Pitt			MGMT	YES	FOR	FOR
2.00	Adopt Stock Option Plan			MGMT	YES	AGNST	AGNST

*Jabil Circuit Inc*		*JBL*	*466313103*	*1/20/05*	*Annual*
1.01	Elect William D. Morean			MGMT	YES	FOR	FOR
1.02	Elect Thomas A. Sansone			MGMT	YES	FOR	FOR
1.03	Elect Timothy L. Main			MGMT	YES	FOR	FOR
1.04	Elect Lawrence J. Murphy			MGMT	YES	FOR	FOR
1.05	Elect Mel S. Lavitt			MGMT	YES	FOR	FOR
1.06	Elect Steven A. Raymund			MGMT	YES	FOR	FOR
1.07	Elect Frank A. Newman			MGMT	YES	FOR	FOR
1.08	Elect Laurence S. Grafstein			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Jack In The Box Inc*		*JBX*	*466367109*	*2/14/05*	*Annual*
1.01	Elect Michael E. Alpert			MGMT	YES	FOR	FOR
1.02	Elect Edward W. Gibbons			MGMT	YES	FOR	FOR
1.03	Elect Anne B. Gust			MGMT	YES	FOR	FOR
1.04	Elect Alice B. Hayes			MGMT	YES	FOR	FOR
1.05	Elect Murray H. Hutchison			MGMT	YES	FOR	FOR
1.06	Elect Linda A. Lang			MGMT	YES	FOR	FOR
1.07	Elect Michael W. Murphy			MGMT	YES	FOR	FOR
1.08	Elect Robert J. Nugent			MGMT	YES	FOR	FOR
1.09	Elect L. Robert Payne			MGMT	YES	FOR	FOR
1.10	Elect David M. Tehle			MGMT	YES	FOR	FOR
2.00	Add Shares to Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Kinetic Concepts Inc*		*KCI*	*49460W208*	*5/24/05*	*Annual*
1.01	Elect Dr.James R. Leininger			MGMT	YES	FOR	FOR
1.02	Elect Dennert O. Ware			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Kronos Inc*		*KRON*	*501052104*	*2/10/05*	*Annual*
1.01	Elect D. Bradley McWilliams			MGMT	YES	FOR	FOR
1.02	Elect Lawrence Portner			MGMT	YES	FOR	FOR
2.00	Amend Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Lam Research Corp*		*LRCX*	*512807108*	*11/4/04*	*Annual*
1.01	Elect James W. Bagley			MGMT	YES	FOR	FOR
1.02	Elect David G. Arscott			MGMT	YES	FOR	FOR
1.03	Elect Robert M. Berdahl			MGMT	YES	FOR	FOR
1.04	Elect Richard J. Elkus Jr.			MGMT	YES	FOR	FOR
1.05	Elect Jack R. Harris			MGMT	YES	FOR	FOR
1.06	Elect Grant M. Inman			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Lennar Corp*		*LEN*	*526057104*	*3/29/05*	*Annual*
1.01	Elect Stuart A. Miller			MGMT	YES	WHOLD	AGNST
1.02	Elect Steven J. Saiontz			MGMT	YES	WHOLD	AGNST
1.03	Elect Robert J. Strudler			MGMT	YES	WHOLD	AGNST
2.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR

*LifePoint Hospitals Inc*		*LPNT*	*53219L109*	*6/30/05*	*Annual*
1.01	Elect Kenneth C. Donahey			MGMT	YES	WHOLD	AGNST
1.02	Elect Richard H. Evans			MGMT	YES	WHOLD	AGNST
1.03	Elect Michael P. Haley			MGMT	YES	WHOLD	AGNST
2.00	Adopt the 1998 Long-Term Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Lincare Holdings Inc*		*LNCR*	*532791100*	*5/9/05*	*Annual*
1.01	Elect John P. Byrnes			MGMT	YES	FOR	FOR
1.02	Elect Stuart H. Altman			MGMT	YES	FOR	FOR
1.03	Elect Chester B. Black			MGMT	YES	FOR	FOR
1.04	Elect Frank D. Byrne			MGMT	YES	FOR	FOR
1.05	Elect Frank T. Cary			MGMT	YES	FOR	FOR
1.06	Elect William F. Miller III			MGMT	YES	FOR	FOR

*Logitech*		*LOGI*	*541419107*	*6/16/05*	*Annual*
2.00	Approve financial statements			MGMT	NO
3.00	Approve stock split			MGMT	NO
4.00	Set Dividend at 0.00			MGMT	NO
5.00	Amend meeting procedures/change date			MGMT	NO
6.00	Ratify board acts-legal			MGMT	NO
7.01	Elect Matthew Bousquette			MGMT	NO
7.02	Elect Frank C. Gill			MGMT	NO
7.03	Elect Gary Bengier			MGMT	NO
7.04	Appoint outside auditors			MGMT	NO

*Manor Care Inc*		*HCR*	*564055101*	*5/10/05*	*Annual*
1.01	Elect Mary Taylor Behrens			MGMT	YES	FOR	FOR
1.02	Elect Joseph F. Damico			MGMT	YES	FOR	FOR
1.03	Elect John T. Schwieters			MGMT	YES	FOR	FOR
1.04	Elect Gail R. Wilensky			MGMT	YES	FOR	FOR
2.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR

*Maverick Tube Corp*		*MVK*	*577914104*	*5/16/05*	*Annual*
1.01	Elect C. Robert Bunch			MGMT	YES	FOR	FOR
1.02	Elect Gerald Hage			MGMT	YES	FOR	FOR
1.03	Elect David H. Kennedy			MGMT	YES	FOR	FOR
1.04	Elect Wayne P. Mang			MGMT	YES	FOR	FOR
1.05	Elect Paul McDermott			MGMT	YES	FOR	FOR
1.06	Elect C. Adams Moore			MGMT	YES	FOR	FOR
2.00	Add shares to the 2004 Omnibus Incentive Plan			MGMT	YES	FOR	FOR
	Amend Stock Incentive Plan
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Medicines*		*MDCO*	*584688105*	*5/25/05*	*Annual*
1.01	Elect Clive A Meanwell			MGMT	YES	FOR	FOR
1.02	Elect Robert J. Hugin			MGMT	YES	FOR	FOR
1.03	Elect Elizabeth H.S. Wyatt			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR

*MEMC Electronic Materials Inc*		*WFR*	*552715104*	*4/27/05*	*Annual*
1.01	Elect Nabeel Gareeb			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Michaels Stores Inc*		*MIK*	*594087108*	*6/16/05*	*Annual*
1.01	Elect Charles J. Wyly Jr.			MGMT	YES	FOR	FOR
1.02	Elect Sam Wyly			MGMT	YES	FOR	FOR
1.03	Elect Richard E. Hanlon			MGMT	YES	FOR	FOR
1.04	Elect Richard C. Marcus			MGMT	YES	FOR	FOR
1.05	Elect Liz Minyard			MGMT	YES	FOR	FOR
1.06	Elect Cece Smith			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt the 2005 Incentive Compensation Plan			MGMT	YES	AGNST	AGNST

*Mueller Industries*		*MLI*	*624756102*	*5/5/05*	*Annual*
1.01	Elect Alexander P. Federbush			MGMT	YES	FOR	FOR
1.02	Elect Gennaro J. Fulvio			MGMT	YES	FOR	FOR
1.03	Elect Gary S. Gladstein			MGMT	YES	FOR	FOR
1.04	Elect Terry Hermanson			MGMT	YES	FOR	FOR
1.05	Elect Robert B. Hodes			MGMT	YES	FOR	FOR
1.06	Elect Harvey L. Karp			MGMT	YES	FOR	FOR
1.07	Elect William D. O'Hagan			MGMT	YES	FOR	FOR
2.00	Approve annual bonus plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*NCR Corp*		*NCR*	*62886E108*	*4/27/05*	*Annual*
1.01	Elect Mark P. Frissora			MGMT	YES	FOR	FOR
1.02	Elect C.K. Prahalad			MGMT	YES	FOR	FOR
1.03	Elect William S. Stavropoulos			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Don't extend benefits to domestic partners			SHLDR	YES	AGNST	FOR

*Network Appliance Inc*		*NTAP*	*64120L104*	*9/2/04*	*Annual*
1.01	Elect Daniel J. Warmenhoven			MGMT	YES	FOR	FOR
1.02	Elect Donald T. Valentine			MGMT	YES	FOR	FOR
1.03	Elect Carol A. Bartz			MGMT	YES	FOR	FOR
1.04	Elect Mark Leslie			MGMT	YES	FOR	FOR
1.05	Elect Nicholas G. Moore			MGMT	YES	FOR	FOR
1.06	Elect Sachio Semmoto			MGMT	YES	FOR	FOR
1.07	Elect George T. Shaheen			MGMT	YES	FOR	FOR
1.08	Elect Robert T. Wall			MGMT	YES	FOR	FOR
2.00	Add Shares to Stock Option Plan			MGMT	YES	FOR	FOR
	Amend Stock Option Plan
3.00	Add Shares to Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
4.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Neurocrine Biosciences*		*NBIX*	*64125C109*	*5/25/05*	*Annual*
1.01	Elect Gary A. Lyons			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to the 2003 Incentive Stock Plan			MGMT	YES	AGNST	AGNST

*Newfield Exploration Co*		*NFX*	*651290108*	*5/5/05*	*Annual*
1.01	Elect David A. Trice			MGMT	YES	FOR	FOR
1.02	Elect David F. Schaible			MGMT	YES	FOR	FOR
1.03	Elect Howard H. Newman			MGMT	YES	FOR	FOR
1.04	Elect Thomas G. Ricks			MGMT	YES	FOR	FOR
1.05	Elect Dennis R. Hendrix			MGMT	YES	FOR	FOR
1.06	Elect Charles E. Shultz			MGMT	YES	FOR	FOR
1.07	Elect Philip J. Burguieres			MGMT	YES	FOR	FOR
1.08	Elect John R. Kemp III			MGMT	YES	FOR	FOR
1.09	Elect J. Michael Lacey			MGMT	YES	FOR	FOR
1.10	Elect Joseph H. Netherland			MGMT	YES	FOR	FOR
1.11	Elect J. Terry Strange			MGMT	YES	FOR	FOR
1.12	Elect Pamela J. Gardner			MGMT	YES	FOR	FOR
1.13	Elect Juanita F. Romans			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*NII Holdings Inc*		*NIHD*	*62913F201*	*4/27/05*	*Annual*
1.01	Elect Neal P. Goldman			MGMT	YES	FOR	FOR
1.02	Elect Charles M. Herington			MGMT	YES	FOR	FOR
1.03	Elect John W. Risner			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Noble Energy Inc*		*NBL*	*655044105*	*4/26/05*	*Annual*
1.01	Elect Michael A. Cawley			MGMT	YES	FOR	FOR
1.02	Elect Edward F. Cox			MGMT	YES	FOR	FOR
1.03	Elect Charles D. Davidson			MGMT	YES	FOR	FOR
1.04	Elect Kirby L. Hedrick			MGMT	YES	FOR	FOR
1.05	Elect Bruce A. Smith			MGMT	YES	FOR	FOR
1.06	Elect Jeffrey L. Berenson			MGMT	YES	FOR	FOR
1.07	Elect Thomas J. Edelman			MGMT	YES	FOR	FOR
1.08	Elect Michael A. Cawley			MGMT	YES	FOR	FOR
1.09	Elect Edward F. Cox			MGMT	YES	FOR	FOR
1.10	Elect Charles D. Davidson			MGMT	YES	FOR	FOR
1.11	Elect Kirby L. Hedrick			MGMT	YES	FOR	FOR
1.12	Elect Bruce A. Smith			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Director Stock Incentive Plan			MGMT	YES	FOR	FOR

*Noble Energy Inc*		*NBL*	*655044105*	*5/11/05*	*Special*
1.00	Approve merger/acquisition			MGMT	YES	FOR	FOR
	Approve common stock issuance
2.00	Increase authorized common stock			MGMT	YES	AGNST	AGNST

*NVR Inc*		*NVR*	*62944T105*	*5/4/05*	*Annual*
1.01	Elect Dwight C. Schar			MGMT	YES	FOR	FOR
1.02	Elect Robert C. Butler			MGMT	YES	FOR	FOR
1.03	Elect George E. Slye			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR

*Oil States International Inc*		*OIS*	*678026105*	*5/18/05*	*Annual*
1.01	Elect L. E. Simmons			MGMT	YES	FOR	FOR
1.02	Elect Douglas E. Swanson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Add shares to the 2001 Equity Participation Plan			MGMT	YES	FOR	FOR
	Amend Stock Incentive Plan

*On Semiconductor Corp*		*ONNN*	*682189105*	*5/18/05*	*Annual*
1.01	Elect Keith D. Jackson			MGMT	YES	FOR	FOR
1.02	Elect Jerome N. Gregoire			MGMT	YES	FOR	FOR
1.03	Elect John Marren			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Pacific Capital Bancorp*		*PCBC*	*69404P101*	*5/24/05*	*Annual*
1.01	Elect Edward E. Birch			MGMT	YES	FOR	FOR
1.02	Elect Richard M. Davis			MGMT	YES	FOR	FOR
1.03	Elect Richard S. Hambleton Jr			MGMT	YES	FOR	FOR
1.04	Elect D. Vernon Horton			MGMT	YES	FOR	FOR
1.05	Elect Roger C. Knopf			MGMT	YES	FOR	FOR
1.06	Elect Robert W. Kummer Jr.			MGMT	YES	FOR	FOR
1.07	Elect Clayton C. Larson			MGMT	YES	FOR	FOR
1.08	Elect John R. Mackall			MGMT	YES	FOR	FOR
1.09	Elect Gerald T. McCullough			MGMT	YES	FOR	FOR
1.10	Elect Richard A. Nightingale			MGMT	YES	FOR	FOR
1.11	Elect Kathy J. Odell			MGMT	YES	FOR	FOR
1.12	Elect William S. Thomas Jr.			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Directors Stock Plan			MGMT	YES	FOR	FOR
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR

*Pacific Sunwear of California Inc*		*PSUN*	*694873100*	*5/18/05*	*Annual*
1.01	Elect Greg H. Weaver			MGMT	YES	FOR	FOR
1.02	Elect Julius Jensen III			MGMT	YES	FOR	FOR
1.03	Elect Pearson C. Cummin III			MGMT	YES	FOR	FOR
1.04	Elect Michael Goldstein			MGMT	YES	FOR	FOR
1.05	Elect Seth R. Johnson			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Pactiv Corp*		*PTV*	*695257105*	*5/20/05*	*Annual*
1.01	Elect Larry D. Brady			MGMT	YES	FOR	FOR
1.02	Elect K. Dane Brooksher			MGMT	YES	FOR	FOR
1.03	Elect Robert J. Darnall			MGMT	YES	FOR	FOR
1.04	Elect Mary R. (Nina) Henderson			MGMT	YES	FOR	FOR
1.05	Elect Roger B. Porter			MGMT	YES	FOR	FOR
1.06	Elect Richard L. Wambold			MGMT	YES	FOR	FOR
1.07	Elect Norman H. Wesley			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*PalmOne Inc*		*PLMO*	*69713P107*	*9/30/04*	*Annual*
1.01	Elect Gordon A. Campbell			MGMT	YES	FOR	FOR
1.02	Elect Donna L. Dubinsky			MGMT	YES	FOR	FOR
1.03	Elect Susan G. Swenson			MGMT	YES	WHOLD	AGNST
2.00	Amend Stock Award Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Par Pharmaceutical Companies Inc*		*PRX*	*69888P106*	*5/24/05*	*Annual*
1.01	Elect Ronald M. Nordmann			MGMT	YES	WHOLD	AGNST
1.02	Elect Arie Gutman			MGMT	YES	WHOLD	AGNST
1.03	Elect Joseph E. Smith			MGMT	YES	WHOLD	AGNST
2.00	Add shares to the 2004 Performance Equity Plan			MGMT	YES	AGNST	AGNST
	Amend Stock Incentive Plan

*Pediatrix Medical Group Inc*		*PDX*	*705324101*	*5/6/05*	*Annual*
1.01	Elect Cesar L. Alvarez			MGMT	YES	FOR	FOR
1.02	Elect Waldemar A. Carlo			MGMT	YES	FOR	FOR
1.03	Elect Michael B. Fernandez			MGMT	YES	FOR	FOR
1.04	Elect Roger K. Freeman			MGMT	YES	FOR	FOR
1.05	Elect Paul G. Gabos			MGMT	YES	FOR	FOR
1.06	Elect Roger J. Medel			MGMT	YES	FOR	FOR
1.07	Elect Lawrence M. Mullen			MGMT	YES	FOR	FOR
1.08	Elect Enrique J. Sosa			MGMT	YES	FOR	FOR

*PerkinElmer Inc*		*PKI*	*714046109*	*4/26/05*	*Annual*
1.01	Elect Tamara J. Erickson			MGMT	YES	FOR	FOR
1.02	Elect Nicholas A. Lopardo			MGMT	YES	FOR	FOR
1.03	Elect Alexis P. Michas			MGMT	YES	FOR	FOR
1.04	Elect James C. Mullen			MGMT	YES	FOR	FOR
1.05	Elect Vicki L. Sato			MGMT	YES	FOR	FOR
1.06	Elect Gabriel Schmergel			MGMT	YES	FOR	FOR
1.07	Elect Kenton J. Sicchitano			MGMT	YES	FOR	FOR
1.08	Elect Gregory L. Summe			MGMT	YES	FOR	FOR
1.09	Elect G. Robert Tod			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*Premiere Global Services Inc*		*PGI*	*740585104*	*5/4/05*	*Annual*
1.01	Elect Raymond H. Pirtle Jr.			MGMT	YES	FOR	FOR
1.02	Elect Wilkie S. Colyer			MGMT	YES	FOR	FOR

*Pride International Inc*		*PDE*	*74153Q102*	*5/12/05*	*Annual*
1.01	Elect Robert L. Barbanell			MGMT	YES	FOR	FOR
1.02	Elect Paul A. Bragg			MGMT	YES	FOR	FOR
1.03	Elect David A. B. Brown			MGMT	YES	FOR	FOR
1.04	Elect J.C. Burton			MGMT	YES	FOR	FOR
1.05	Elect Archie W. Dunham			MGMT	YES	FOR	FOR
1.06	Elect Ralph D. McBride			MGMT	YES	FOR	FOR
1.07	Elect David B. Robson			MGMT	YES	FOR	FOR
2.00	Add shares to employee stock purchase plan			MGMT	YES	FOR	FOR

*Providian Financial Corp*		*PVN*	*74406A102*	*5/5/05*	*Annual*
1.01	Elect James P. Holdcroft Jr.			MGMT	YES	FOR	FOR
1.02	Elect Ruth M. Owades			MGMT	YES	FOR	FOR
1.03	Elect Jane A. Truelove			MGMT	YES	FOR	FOR
2.00	Reapprove option/bonus plan for OBRA			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Putnam Prime Money Market Fund*			*746763432*	*11/11/04*	*Special*
1.01	Elect Trustee J.A. Baxter			MGMT	YES	FOR	FOR
1.02	Elect Trustee E.T. Kennan			MGMT	YES	FOR	FOR
1.03	Elect Trustee C.B. Curtis			MGMT	YES	FOR	FOR
1.04	Elect Trustee J.H. Mullin, III			MGMT	YES	FOR	FOR
1.05	Elect Trustee M.R. Drucker			MGMT	YES	FOR	FOR
1.06	Elect Trustee R.E. Patterson			MGMT	YES	FOR	FOR
1.07	Elect Trustee C.E. Haldeman, Jr.			MGMT	YES	FOR	FOR
1.08	Elect Trustee G. Putnam, III			MGMT	YES	FOR	FOR
1.09	Elect Trustee J.A. Hill			MGMT	YES	FOR	FOR
1.10	Elect Trustee A.J.C. Smith			MGMT	YES	FOR	FOR
1.11	Elect Trustee R. J. Jackson			MGMT	YES	FOR	FOR
1.12	Elect Trustee W.T. Stephens			MGMT	YES	FOR	FOR
1.13	Elect Trustee P.L. Joskow			MGMT	YES	FOR	FOR
1.14	Elect Trustee R.B. Worley			MGMT	YES	FOR	FOR
2.00	Amend fund's fundamental investment restriction with respect to borrowing			MGMT	N/A	N/A	N/A
2.01	Amend fund's fundamental investment restriction with respect to making loans			MGMT	N/A	N/A	N/A
2.02	Amend fund's fundamental investment restriction with respect to diversification of investments			MGMT	YES	FOR	FOR
2.03	Amend fund's fundamental investment restriction with respect to issuance of senior securities			MGMT	N/A	N/A	N/A
2.04	Amend fund's fundamental investment restriction with respect to purchasing or selling options, puts, calls, straddles and spreads			MGMT	N/A	N/A	N/A
2.05	Amend fund's fundamental investment restriction with respect to investments in commodities			MGMT	N/A	N/A	N/A
3.00	Amend fund's Agreement and Declaration of Trust			MGMT	YES	FOR	FOR

*Red Hat*		*RHAT*	*756577102*	*9/21/04*	*Annual*
1.01	Elect Henry H. Shelton			MGMT	NO
1.02	Elect Eugene J. McDonald			MGMT	NO
1.03	Elect Matthew J. Szulik			MGMT	NO
2.00	Ratify Selection of Auditors			MGMT	NO
3.00	Adopt Stock Option Plan			MGMT	NO

*Red Robin Gourmet Burgers*		*RRGB*	*75689M101*	*6/2/05*	*Annual*
1.01	Elect Benjamin D. Graebel			MGMT	YES	WHOLD	AGNST
1.02	Elect Dennis B. Mullen			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Respironics Inc*		*RESP*	*761230101*	*11/16/04*	*Annual*
1.01	Elect Douglas A. Cotter			MGMT	YES	FOR	FOR
1.02	Elect Gerald E. McGinnis			MGMT	YES	FOR	FOR
1.03	Elect Craig B. Reynolds			MGMT	YES	FOR	FOR
1.04	Elect Candace Littell			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Rockwell Collins Inc*		*COL*	*774341101*	*2/15/05*	*Annual*
1.01	Elect Michael P.C. Carns			MGMT	YES	FOR	FOR
1.02	Elect Chris A. Davis			MGMT	YES	FOR	FOR
1.03	Elect Joseph F. Toot Jr.			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Ross Stores Inc*		*ROST*	*778296103*	*5/19/05*	*Annual*
1.01	Elect Stuart G. Moldaw			MGMT	YES	FOR	FOR
1.02	Elect George P. Orban			MGMT	YES	FOR	FOR
1.03	Elect Donald H. Seiler			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Rowan Cos Inc*		*RDC*	*779382100*	*4/22/05*	*Annual*
1.01	Elect R.G. Croyle			MGMT	YES	WHOLD	AGNST
1.02	Elect D.F. McNease			MGMT	YES	FOR	FOR
1.03	Elect Colin B. Moynihan			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR

*RSA Security Inc*		*RSAS*	*749719100*	*5/26/05*	*Annual*
1.01	Elect Richard A. DeMillo			MGMT	YES	FOR	FOR
1.02	Elect Richard L. Earnest			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Add shares to the 1994 Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Ryland Group Inc*		*RYL*	*783764103*	*4/20/05*	*Annual*
1.01	Elect R. Chad Dreier			MGMT	YES	FOR	FOR
1.02	Elect Daniel T. Bane			MGMT	YES	FOR	FOR
1.03	Elect Leslie M. Frecon			MGMT	YES	FOR	FOR
1.04	Elect Roland A. Hernandez			MGMT	YES	FOR	FOR
1.05	Elect William L. Jews			MGMT	YES	FOR	FOR
1.06	Elect Ned Mansour			MGMT	YES	FOR	FOR
1.07	Elect Robert E. Mellor			MGMT	YES	FOR	FOR
1.08	Elect Norman J. Metcalfe			MGMT	YES	FOR	FOR
1.09	Elect Charlotte St. Martin			MGMT	YES	FOR	FOR
1.10	Elect Paul J. Varello			MGMT	YES	FOR	FOR
1.11	Elect John O. Wilson			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Increase authorized common stock			MGMT	YES	FOR	FOR
4.00	Report or take action on climate change			SHLDR	YES	AGNST	FOR

*Salix Pharmaceuticals Ltd*		*SLXP*	*795435106*	*6/9/05*	*Annual*
1.01	Elect John F. Chappell			MGMT	YES	FOR	FOR
1.02	Elect Thomas W. D'Alonzo			MGMT	YES	FOR	FOR
1.03	Elect Richard A. Franco			MGMT	YES	FOR	FOR
1.04	Elect William P. Keane			MGMT	YES	FOR	FOR
1.05	Elect Carolyn J. Logan			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Stock Plan			MGMT	YES	AGNST	AGNST
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Scientific-Atlanta Inc*		*SFA*	*808655104*	*11/3/04*	*Annual*
1.01	Elect James I. Cash Jr.			MGMT	YES	FOR	FOR
1.02	Elect James F. McDonald			MGMT	YES	FOR	FOR
1.03	Elect Terence F. McGuirk			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Sierra Health Services*		*SIE*	*826322109*	*5/24/05*	*Annual*
1.01	Elect Thomas Y. Hartley			MGMT	YES	FOR	FOR
1.02	Elect Michael E. Luce			MGMT	YES	FOR	FOR
1.03	Elect Anthony M. Marlon			MGMT	YES	FOR	FOR
1.04	Elect Anthony L. Watson			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Skyworks Solutions Inc*		*SWKS*	*83088M102*	*4/28/05*	*Annual*
1.01	Elect David J. Aldrich			MGMT	YES	WHOLD	AGNST
1.02	Elect Moiz M. Beguwala			MGMT	YES	WHOLD	AGNST
1.03	Elect Dwight W. Decker			MGMT	YES	WHOLD	AGNST
1.04	Elect David McGlade			MGMT	YES	WHOLD	AGNST
2.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Add Shares to Director Stock Incentive Plan			MGMT	YES	AGNST	AGNST
4.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Speedway Motorsports*		*TRK*	*847788AK2*	*4/20/05*	*Annual*
1.01	Elect William R. Brooks			MGMT	YES	FOR	FOR
1.02	Elect Mark M. Gambill			MGMT	YES	FOR	FOR
1.03	Elect James P. Holden			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Steel Dynamics Inc*		*STLD*	*858119100*	*5/19/05*	*Annual*
1.01	Elect Keith E. Busse			MGMT	YES	FOR	FOR
1.02	Elect Mark D. Millet			MGMT	YES	FOR	FOR
1.03	Elect Richard P. Teets Jr.			MGMT	YES	FOR	FOR
1.04	Elect John C. Bates			MGMT	YES	FOR	FOR
1.05	Elect Frank D. Byrne			MGMT	YES	FOR	FOR
1.06	Elect Paul B. Edgerley			MGMT	YES	FOR	FOR
1.07	Elect Richard J. Freeland			MGMT	YES	FOR	FOR
1.08	Elect Naoki Hidaka			MGMT	YES	FOR	FOR
1.09	Elect Jurgen Kolb			MGMT	YES	FOR	FOR
1.10	Elect James C. Marcuccilli			MGMT	YES	FOR	FOR
1.11	Elect Joseph D. Ruffolo			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Sybron Dental Specialties*		*SYD*	*871142105*	*2/8/05*	*Annual*
1.01	Elect Dennis Brown			MGMT	YES	FOR	FOR
1.02	Elect Kenneth F. Yontz			MGMT	YES	FOR	FOR
2.00	Adopt Director Stock Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Adopt Stock Incentive Plan			MGMT	YES	AGNST	AGNST

*Synopsys Inc*		*SNPS*	*871607107*	*5/23/05*	*Annual*
1.01	Elect Dr.Aart J. de Geus			MGMT	YES	FOR	FOR
1.02	Elect Dr.Chi-Foon Chan			MGMT	YES	FOR	FOR
1.03	Elect Bruce R. Chizen			MGMT	YES	FOR	FOR
1.04	Elect Deborah A. Coleman			MGMT	YES	FOR	FOR
1.05	Elect Dr.A. Richard Newton			MGMT	YES	FOR	FOR
1.06	Elect Dr.Sasson Somekh			MGMT	YES	FOR	FOR
1.07	Elect Roy Vallee			MGMT	YES	FOR	FOR
1.08	Elect Steven C. Walske			MGMT	YES	FOR	FOR
2.00	Adopt the 2005 Non-Employee Directors Equity Incentive Plan			MGMT	YES	AGNST	AGNST
3.00	Add shares to the Employee Stock Purchase Plan			MGMT	YES	FOR	FOR
4.00	Amend employee stock purchase plan			MGMT	YES	FOR	FOR
5.00	Exchange underwater options			MGMT	YES	AGNST	AGNST
6.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*TCF Financial Corp*		*TCB*	*872275102*	*4/27/05*	*Annual*
1.01	Elect Rodney P. Burwell			MGMT	YES	FOR	FOR
1.02	Elect William A. Cooper			MGMT	YES	FOR	FOR
1.03	Elect Thomas A. Cusick			MGMT	YES	FOR	FOR
1.04	Elect Peter L. Scherer			MGMT	YES	FOR	FOR
1.05	Elect Douglas A. Scovanner			MGMT	YES	FOR	FOR
2.00	Adopt director stock award plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Telephone and Data Systems Inc*		*TDS*	*879433100*	*4/11/05*	*Special*
1.00	Increase authorized dual class common stock			MGMT	YES	FOR	FOR
	Approve common stock issuance
2.00	Amend Stock Incentive Plan			MGMT	YES	AGNST	AGNST
	Add Shares to Stock Incentive Plan
3.00	Add shares to employee stock purchase plan			MGMT	YES	FOR	FOR
	Amend employee stock purchase plan
4.00	Add shares to director stock award plan			MGMT	YES	AGNST	AGNST
	Amend director stock award plan

*Telephone and Data Systems Inc*		*TDS*	*879433100*	*5/5/05*	*Annual*
1.01	Elect Kevin A. Mundt			MGMT	YES	WHOLD	AGNST
1.02	Elect Mitchell H. Saranow			MGMT	YES	WHOLD	AGNST
1.03	Elect Martin L. Solomon			MGMT	YES	WHOLD	AGNST
1.04	Elect Herbert S. Wander			MGMT	YES	WHOLD	AGNST
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Texas Regional Bancshares Inc*		*TRBS*	*882673106*	*4/25/05*	*Annual*
1.01	Elect Morris Atlas			MGMT	YES	FOR	FOR
1.02	Elect Robert F. Boggus			MGMT	YES	FOR	FOR
1.03	Elect Robert R. Farris			MGMT	YES	FOR	FOR
1.04	Elect Hill A. Feinberg			MGMT	YES	FOR	FOR
1.05	Elect C. Kenneth Landrum			MGMT	YES	FOR	FOR
1.06	Elect David L. Lane			MGMT	YES	FOR	FOR
1.07	Elect Jack H. Mayfield Jr.			MGMT	YES	FOR	FOR
1.08	Elect Joe Penland Sr.			MGMT	YES	FOR	FOR
1.09	Elect Joseph E. Reid			MGMT	YES	FOR	FOR
1.10	Elect G. E. Roney			MGMT	YES	FOR	FOR
1.11	Elect Tudor G. Uhlhorn			MGMT	YES	FOR	FOR
1.12	Elect Walter Umphrey			MGMT	YES	FOR	FOR
1.13	Elect Mario M. Yzaguirre			MGMT	YES	FOR	FOR
2.00	Increase authorized common stock			MGMT	YES	FOR	FOR
3.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
4.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
5.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Timberland Co*		*TBL*	*887100105*	*5/19/05*	*Annual*
1.01	Elect Sidney W. Swartz			MGMT	YES	WHOLD	AGNST
1.02	Elect Jeffrey B. Swartz			MGMT	YES	WHOLD	AGNST
1.03	Elect Ian W. Diery			MGMT	YES	WHOLD	AGNST
1.04	Elect Irene M. Esteves			MGMT	YES	WHOLD	AGNST
1.05	Elect John A. Fitzsimmons			MGMT	YES	WHOLD	AGNST
1.06	Elect Virginia H. Kent			MGMT	YES	WHOLD	AGNST
1.07	Elect Kenneth T. Lombard			MGMT	YES	WHOLD	AGNST
1.08	Elect Edward W. Moneypenny			MGMT	YES	WHOLD	AGNST
1.09	Elect Peter R. Moore			MGMT	YES	WHOLD	AGNST
1.10	Elect Bill Shore			MGMT	YES	WHOLD	AGNST
1.11	Elect Terdema L. Ussery II			MGMT	YES	WHOLD	AGNST

*ValueClick*		*VCLK*	*92046N102*	*6/6/05*	*Annual*
1.01	Elect James R. Zarley			MGMT	YES	WHOLD	AGNST
1.02	Elect David S. Buzby			MGMT	YES	WHOLD	AGNST
1.03	Elect Martin T. Hart			MGMT	YES	WHOLD	AGNST
1.04	Elect Tom A. Vadnais			MGMT	YES	WHOLD	AGNST
1.05	Elect Jeffrey F. Rayport			MGMT	YES	WHOLD	AGNST

*Varian Medical Systems*		*VAR*	*92220P105*	*2/17/05*	*Annual*
1.01	Elect Susan L. Bostrom			MGMT	YES	FOR	FOR
1.02	Elect Richard M. Levy			MGMT	YES	FOR	FOR
1.03	Elect Allen S. Lichter			MGMT	YES	FOR	FOR
1.04	Elect R. Andrew Eckert			MGMT	YES	FOR	FOR
2.00	Adopt Stock Incentive Plan			MGMT	YES	FOR	FOR
3.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*VCA Antech*		*WOOF*	*918194101*	*7/12/04*	*Annual*
1.01	Elect Robert L. Antin			MGMT	YES	WHOLD	AGNST
2.00	Increase Authorized Common Stock			MGMT	YES	FOR	FOR
3.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*WebMethods*		*WEBM*	*94768C108*	*8/26/04*	*Annual*
1.01	Elect James P. Gauer			MGMT	YES	FOR	FOR
1.02	Elect Jack L. Lewis			MGMT	YES	FOR	FOR
1.03	Elect Gene Riechers			MGMT	YES	FOR	FOR
2.00	Ratify Selection of Auditors			MGMT	YES	FOR	FOR

*Wesco International Inc*		*WCC*	*95082P105*	*5/18/05*	*Annual*
1.01	Elect Roy W. Haley			MGMT	YES	FOR	FOR
1.02	Elect George L. Miles Jr.			MGMT	YES	FOR	FOR
1.03	Elect James L. Singleton			MGMT	YES	FOR	FOR
2.00	Ratify selection of auditors			MGMT	YES	FOR	FOR

*Winnebago Industries*		*WGO*	*974637100*	*1/11/05*	*Annual*
1.01	Elect Jerry N. Currie			MGMT	YES	FOR	FOR
1.02	Elect Lawrence A. Erickson			MGMT	YES	FOR	FOR
1.03	Elect John E. Herlitz			MGMT	YES	FOR	FOR

*XTO Energy Inc*		*XTO*	*98385X106*	*11/16/04*	*Special*
1.00	Adopt Stock Option Plan			MGMT	YES	FOR	FOR

Any ballot marked 'Abstain' is considered to have been voted. Ballots marked 'Abstain' are considered to be have been voted against management's recommendation, regardless of whether the recommendation is 'For' or 'Against,' except where management has made no recommendation or has recommended that shareholders 'Abstain.'

Where management has recommended that shareholders 'Abstain' from voting on a ballot item: 1) a ballot market 'Abstain' is considered to have been voted for management's recommendation to 'Abstain' and 2) a ballot voted 'For" or 'Against' is considered to have been voted against management's recommendation to 'Abstain.'

Where management has made no recommendation on a ballot item, the abbreviation "N/A" is used to denote that there is no applicable recommendation compared to which a vote may be 'For' or 'Against' the recommendation of management.

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.


Putnam OTC & Emerging Growth Fund
- -------------------------------------------------------------------------
       (Registrant)


By /s/ Charles E. Porter, Executive Vice President, Associate Treasurer
   and Principal Executive Officer
   _______________________________________________________________________
       (Signature & Title)


Date July 28, 2005

Putnam OTC Emerging Growth Fund (POTBX) Inactive N-PXAnnual report of proxy voting record