Putnam Investors Fund N-PX Annual report of proxy voting record

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act File Number : 811-159

Name of Registrant: Putnam Investors Fund

Address of Principal Executive Offices:
One Post Office Square
Boston, Massachusetts 02109

Name and address of agent of service:
Beth S. Mazor, Vice President
Putnam Investors Fund
One Post Office Square
Boston, Massachusetts 02109

Copy to:
John W. Gerstmayr, Esq.
Ropes & Gray LLP
One International Place
Boston, Massachusetts 02110

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

Date of fiscal year end:
07/31

Date of Reporting Period:

07/01/2005 - 06/30/2006

Item 1. Proxy Voting Record

============================			PUTNAM INVESTORS FUND =============================
ABERCROMBIE & FITCH CO.
Ticker:		ANF	Security ID: 002896207
Meeting Date: JUN 14, 2006			Meeting Type: Annual
Record Date:  APR 17, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director James B. Bachmann			For	For	Management
1.2	Elect Director Lauren J. Brisky			For	For	Management
1.3	Elect Director Michael S. Jeffries			For	For	Management
1.4	Elect Director John W. Kessler			For	For	Management
2	Ratify Auditors			For	For	Management
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ACCENTURE LTD BERMUDA
Ticker:		ACN	Security ID: G1150G111
Meeting Date: FEB 1, 2006			Meeting Type: Annual
Record Date:  DEC 5, 2005
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1	APPOINTMENT OF THE FOLLOWING NOMINEE TO			For	For	Management
	THE BOARD OF DIRECTORS: DINA DUBLON
2	APPOINTMENT OF THE FOLLOWING NOMINEE TO			For	For	Management
	THE BOARD OF DIRECTORS: WILLIAM D. GREEN
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
ACE LTD.
Ticker:		ACE	Security ID: G0070K103
Meeting Date: MAY 18, 2006			Meeting Type: Annual
Record Date:  MAR 31, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect	Director Michael G. Atieh		For	For	Management
1.2	Elect	Director Mary A. Cirillo		For	For	Management
1.3	Elect	Director Bruce L. Crockett		For	For	Management
1.4	Elect	Director Thomas J. Neff		For	For	Management
1.5	Elect	Director Gary M. Stuart		For	For	Management
2	APPROVAL OF AMENDMENT TO ACE LIMITED			For	For	Management
	EMPLOYEE STOCK PURCHASE PLAN.
3	RATIFICATION OF THE APPOINTMENT OF			For	For	Management
	PRICEWATERHOUSECOOPERS LLP AS THE
	INDEPENDENT REGISTERED PUBLIC ACCOUNTING
	FIRM OF ACE LIMITED FOR THE FISCAL YEAR
	ENDING DECEMBER 31, 2006.

--------------------------------------------------------------------------------
AES CORP., THE
Ticker:		AES	Security ID: 00130H105
Meeting Date: MAY 11, 2006			Meeting Type: Annual
Record Date: MAR 3, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Richard Darman			For	For	Management
1.2	Elect Director Paul Hanrahan			For	For	Management
1.3	Elect Director Kristina M. Johnson			For	For	Management
1.4	Elect Director John A. Koskinen			For	For	Management
1.5	Elect Director Philip Lader			For	For	Management
1.6	Elect Director John H. McArthur			For	For	Management
1.7	Elect Director Sandra O. Moose			For	For	Management
1.8	Elect Director Philip A. Odeen			For	For	Management
1.9	Elect Director Charles O. Rossotti			For	For	Management
1.10	Elect Director Sven Sandstrom			For	For	Management
2	Ratify Auditor			For	For	Management
3	Approve Executive Incentive Bonus Plan			For	For	Management
--------------------------------------------------------------------------------
AETNA INC.
Ticker:		AET	Security ID: 00817Y108
Meeting Date: APR 28, 2006			Meeting Type: Annual
Record Date: FEB 24, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Betsy Z. Cohen			For	For	Management
1.2	Elect Director Molly J. Coye, M.D.			For	For	Management
1.3	Elect Director Barbara H. Franklin			For	For	Management
1.4	Elect Director Jeffrey E. Garten			For	For	Management
1.5	Elect Director Earl G. Graves			For	For	Management
1.6	Elect Director Gerald Greenwald			For	For	Management
1.7	Elect Director Ellen M. Hancock			For	For	Management
1.8	Elect Director Michael H. Jordan			For	For	Management
1.9	Elect Director Edward J. Ludwig			For	For	Management
1.10	Elect Director Joseph P. Newhouse			For	For	Management
1.11	Elect Director John W. Rowe, M.D.			For	For	Management
1.12	Elect Director Ronald A. Williams			For	For	Management
2	Ratify Auditors			For	For	Management
3	Approve Qualified Employee Stock Purchase			For	For	Management
	Plan
4	Provide for Cumulative Voting			Against	Against	Shareholder
--------------------------------------------------------------------------------
AMERICAN EXPRESS CO.
Ticker:		AXP	Security ID: 025816109
Meeting Date: APR 24, 2006			Meeting Type: Annual
Record Date: FEB 28, 2006

#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Daniel F. Akerson			For	For	Management
1.2	Elect Director Charlene Barshefsky			For	For	Management
1.3	Elect Director Ursula M. Burns			For	For	Management
1.4	Elect Director Kenneth I. Chenault			For	For	Management
1.5	Elect Director Peter Chernin			For	For	Management
1.6	Elect Director Peter R. Dolan			For	For	Management
1.7	Elect Director Vernon E. Jordan, Jr.			For	For	Management
1.8	Elect Director Jan Leschly			For	For	Management
1.9	Elect Director Ricahrd A. McGinn			For	For	Management
1.10	Elect Director Edward D. Miller			For	For	Management
1.11	Elect Director Frank P. Popoff			For	For	Management
1.12	Elect Director Robert D. Walter			For	For	Management
2	Ratify Auditors			For	For	Management
3	Limit/Prohibit Executive Stock-Based			Against	Against	Shareholder
	Awards
4	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
5	Exclude Reference to Sexual Orientation			Against	Against	Shareholder
	from the Company's EEO Statement
6	Company-Specific -- Reimbursement of			Against	Against	Shareholder
	Expenses for Certain
	Shareholder-Nominated Director Candidates
--------------------------------------------------------------------------------
AMERICAN INTERNATIONAL GROUP, INC.
Ticker:		AIG	Security ID: 026874107
Meeting Date: MAY 17, 2006			Meeting Type: Annual
Record Date: MAR 24, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Pei-yuan Chia			For	For	Management
1.2	Elect Director Marshall A. Cohen			For	Withhold	Management
1.3	Elect Director Martin S. Feldstein			For	For	Management
1.4	Elect Director Ellen V. Futter			For	For	Management
1.5	Elect Director Stephen L. Hammerman			For	Withhold	Management
1.6	Elect Director Richard C. Holbrooke			For	For	Management
1.7	Elect Director Fred H. Langhammer			For	For	Management
1.8	Elect Director George L. Miles, Jr.			For	For	Management
1.9	Elect Director Morris W. Offit			For	For	Management
1.10	Elect Director James F. Orr, III			For	For	Management
1.11	Elect Director Martin J. Sullivan			For	For	Management
1.12	Elect Director Michael H. Sutton			For	For	Management
1.13	Elect Director Edmund S.W. Tse			For	For	Management
1.14	Elect Director Robert B. Willumstad			For	For	Management
1.15	Elect Director Frank G. Zarb			For	For	Management
2	Ratify Auditors			For	For	Management
3	Approve Executive Incentive Bonus Plan			For	For	Management
--------------------------------------------------------------------------------
AMGEN, INC.

Ticker:		AMGN		Security ID:	031162100
Meeting Date: MAY 10,			2006	Meeting Type: Annual
Record Date: MAR 13,			2006
#	Proposal					Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Frederick W. Gluck					For	For	Management
1.2	Elect Director J. Paul Reason					For	For	Management
1.3	Elect Director Donald B. Rice					For	For	Management
1.4	Elect Director Leonard D. Schaeffer					For	For	Management
2	Ratify Auditors					For	For	Management
3	Stock Retention					Against	Against	Shareholder
4	Link Executive Compensation to Social					Against	Against	Shareholder
	Issues
5	Submit Shareholder Rights Plan (Poison					Against	For	Shareholder
	Pill) to Shareholder Vote
6	Develop an Animal Welfare Policy					Against	Against	Shareholder
7	Require a Majority Vote for the Election					Against	Against	Shareholder
	of Directors
8	Report on Political Contributions					For	For	Shareholder
--------------------------------------------------------------------------------
AMPHENOL CORP.
Ticker:		APH		Security ID:	032095101
Meeting Date: MAY 24,			2006	Meeting Type: Annual
Record Date: MAR 27,			2006
#	Proposal					Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Edward G. Jepsen					For	For	Management
1.2	Elect Director John R. Lord					For	Withhold	Management
2	Ratify Auditors					For	For	Management
3	Amend Stock Option Plan					For	For	Management
--------------------------------------------------------------------------------
AMR CORP.
Ticker:		AMR		Security ID:	001765106
Meeting Date: MAY 17,			2006	Meeting Type: Annual
Record Date: MAR 20,			2006
#	Proposal					Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Gerard J. Arpey					For	For	Management
1.2	Elect Director John W. Bachmann					For	For	Management
1.3	Elect Director David L. Boren					For	For	Management
1.4	Elect Director Edward A. Brennan					For	For	Management
1.5	Elect Director Armando M. Codina					For	For	Management
1.6	Elect Director Earl G. Graves					For	For	Management
1.7	Elect Director Ann M. Korologos					For	Withhold	Management
1.8	Elect Director Michael A. Miles					For	For	Management
1.9	Elect Director Philip J. Purcell					For	For	Management
1.10	Elect Director Ray M. Robinson					For	Withhold	Management
1.11	Elect Director Judith Rodin					For	For	Management

1.12	Elect Director Matthew K. Rose				For	For	Management
1.13	Elect Director Roger T. Staubach				For	For	Management
2	Ratify Auditors				For	For	Management
3	Establish Term Limits for Directors				Against	Against	Shareholder
4	Require a Majority Vote for the Election				Against	Against	Shareholder
	of Directors
5	Separate Chairman and CEO Positions				Against	Against	Shareholder
6	Provide for Cumulative Voting				Against	Against	Shareholder
--------------------------------------------------------------------------------
APACHE CORP.
Ticker:		APA	Security ID:	037411105
Meeting Date: MAY 4, 2006			Meeting Type: Annual
Record Date: MAR 15, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Frederick M. Bohen				For	Withhold	Management
1.2	Elect Director George D. Lawrence				For	Withhold	Management
1.3	Elect Director Rodman D. Patton				For	Withhold	Management
1.4	Elect Director Charles J. Pitman				For	Withhold	Management
1.5	Elect Director Jay A. Precourt				For	Withhold	Management
2	Amend Non-Employee Director Stock Option				For	For	Management
	Plan
--------------------------------------------------------------------------------
APPLE COMPUTER, INC.
Ticker:		AAPL	Security ID:	037833100
Meeting Date: APR 27, 2006			Meeting Type: Annual
Record Date: FEB 28, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Fred D. Anderson				For	For	Management
1.2	Elect Director William V. Campbell				For	For	Management
1.3	Elect Director Millard S. Drexler				For	For	Management
1.4	Elect Director Albert A. Gore, Jr.				For	For	Management
1.5	Elect Director Steven P. Jobs				For	For	Management
1.6	Elect Director Arthur D. Levinson, Ph.D.				For	For	Management
1.7	Elect Director Jerome B. York				For	For	Management
2	Ratify Auditors				For	For	Management
3	Report on Computer Recycling Policy				Against	Against	Shareholder
--------------------------------------------------------------------------------
AUTODESK, INC.
Ticker:		ADSK	Security ID:	052769106
Meeting Date: JUN 8, 2006			Meeting Type: Annual
Record Date: APR 17, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor

1.1	Elect Director Carol A. Bartz			For	For	Management
1.2	Elect Director Carl Bass			For	For	Management
1.3	Elect Director Mark A. Bertelsen			For	Withhold	Management
1.4	Elect Director Crawford W. Beveridge			For	For	Management
1.5	Elect Director J. Hallam Dawson			For	For	Management
1.6	Elect Director Michael J. Fister			For	For	Management
1.7	Elect Director Per-Kristian Halvorsen			For	For	Management
1.8	Elect Director Stevn L. Scheid			For	For	Management
1.9	Elect Director Mary Alice Taylor			For	For	Management
1.10	Elect Director Larry W. Wangberg			For	For	Management
2	Ratify Auditors			For	For	Management
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BANK OF AMERICA CORP.
Ticker:		BAC	Security ID: 060505104
Meeting Date: APR 26, 2006			Meeting Type: Annual
Record Date: MAR 3, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director William Barnet, III			For	For	Management
1.2	Elect Director Frank P. Bramble, Sr.			For	For	Management
1.3	Elect Director John T. Collins			For	For	Management
1.4	Elect Director Gary L. Countryman			For	Withhold	Management
1.5	Elect Director Tommy R. Franks			For	For	Management
1.6	Elect Director Paul Fulton			For	For	Management
1.7	Elect Director Charles K. Gifford			For	Withhold	Management
1.8	Elect Director W. Steven Jones			For	For	Management
1.9	Elect Director Kenneth D. Lewis			For	For	Management
1.10	Elect Director Monica C. Lozano			For	For	Management
1.11	Elect Director Walter E. Massey			For	For	Management
1.12	Elect Director Thomas J. May			For	For	Management
1.13	Elect Director Patricia E. Mitchell			For	For	Management
1.14	Elect Director Thomas M. Ryan			For	For	Management
1.15	Elect Director O. Temple Sloan, Jr.			For	For	Management
1.16	Elect Director Meredith R. Spangler			For	For	Management
1.17	Elect Director Robert L. Tillman			For	For	Management
1.18	Elect Director Jackie M. Ward			For	For	Management
2	Ratify Auditors			For	For	Management
3	Amend Omnibus Stock Plan			For	Against	Management
4	Publish Political Contributions			Against	Against	Shareholder
5	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
6	Provide for an Independent Chairman			Against	Against	Shareholder
7	Exclude Reference to Sexual Orientation			Against	Against	Shareholder
	from the Company's EEO Statement
--------------------------------------------------------------------------------
BARNES & NOBLE, INC.
Ticker:		BKS	Security ID: 067774109
Meeting Date: JUN 7, 2006			Meeting Type: Annual
Record Date: APR 12, 2006

#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director William Dillard, II			For	For	Management
1.2	Elect Director Irene R. Miller			For	For	Management
1.3	Elect Director Michael N. Rosen			For	For	Management
2	Ratify Auditors			For	For	Management
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BEAR STEARNS COMPANIES INC., THE
Ticker:		BSC	Security ID:	073902108
Meeting Date: APR 11, 2006			Meeting Type: Annual
Record Date: FEB 13, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director James E. Cayne			For	For	Management
1.2	Elect Director Henry S. Bienen			For	For	Management
1.3	Elect Director Carl D. Glickman			For	For	Management
1.4	Elect Director Alan C. Greenberg			For	For	Management
1.5	Elect Director Donald J. Harrington			For	For	Management
1.6	Elect Director Frank T. Nickell			For	For	Management
1.7	Elect Director Paul A. Novelly			For	For	Management
1.8	Elect Director Frederic V. Salerno			For	For	Management
1.9	Elect Director Alan D. Schwartz			For	For	Management
1.10	Elect Director Warren J. Spector			For	For	Management
1.11	Elect Director Vincent Tese			For	For	Management
1.12	Elect Director Wesley S. Williams Jr.			For	For	Management
2	Amend Deferred Compensation Plan			For	For	Management
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
BECTON, DICKINSON AND COMPANY
Ticker:		BDX	Security ID:	075887109
Meeting Date: JAN 31, 2006			Meeting Type: Annual
Record Date: DEC 7, 2005
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Edward J. Ludwig			For	For	Management
1.2	Elect Director Willard J. Overlock, Jr.			For	For	Management
1.3	Elect Director Bertram L. Scott			For	For	Management
2	Ratify Auditors			For	For	Management
3	Report on Toxic Chemicals			Against	Against	Shareholder
4	Provide for Cumulative Voting			Against	Against	Shareholder
--------------------------------------------------------------------------------
BED BATH & BEYOND INC.
Ticker:		BBBY	Security ID:	075896100
Meeting Date: JUN 29, 2006			Meeting Type: Annual
Record Date: MAY 2, 2006

#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Steven H. Temares			For	For	Management
1.2	Elect Director Klaus Eppler			For	For	Management
1.3	Elect Director Fran Stoller			For	For	Management
2	Ratify Auditors			For	For	Management
3	Board Diversity			Against	Against	Shareholder
4	Adopt ILO-Based Code of Conduct			Against	Against	Shareholder
5	Report on Energy Efficiency			Against	Against	Shareholder
6	Declassify the Board of Directors			For	For	Management
--------------------------------------------------------------------------------
BOSTON SCIENTIFIC CORP.
Ticker:		BSX	Security ID:	101137107
Meeting Date: MAR 31, 2006			Meeting Type: Special
Record Date: FEB 22, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1	Increase Authorized Common Stock			For	For	Management
2	Issue Shares in Connection with an			For	For	Management
	Acquisition
--------------------------------------------------------------------------------
BOSTON SCIENTIFIC CORP.
Ticker:		BSX	Security ID:	101137107
Meeting Date: MAY 9, 2006			Meeting Type: Annual
Record Date: MAR 17, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director John E. Abele			For	For	Management
1.2	Elect Director Joel L. Fleishman			For	For	Management
1.3	Elect Director Ernest Mario			For	For	Management
1.4	Elect Director Uwe E. Reinhardt			For	For	Management
2.1	Elect Director Kristina M. Johnson, Ph.D.			For	For	Management
2.2	Elect Director Nancy-Ann DeParle			For	For	Management
3	Ratify Auditors			For	For	Management
4	Approve Qualified Employee Stock Purchase			For	For	Management
	Plan
--------------------------------------------------------------------------------
BRUNSWICK CORP.
Ticker:		BC	Security ID:	117043109
Meeting Date: MAY 3, 2006			Meeting Type: Annual
Record Date: MAR 2, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Michael J. Callahan			For	For	Management
1.2	Elect Director Manuel A. Fernandez			For	For	Management

1.3	Elect Director Peter B. Hamilton			For	For	Management
1.4	Elect Director Roger W. Schipke			For	For	Management
2	Amend Omnibus Stock Plan			For	For	Management
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
C.H. ROBINSON WORLDWIDE, INC.
Ticker:		CHRW	Security ID:	12541W209
Meeting Date: MAY 18,  2006			Meeting Type: Annual
Record Date:  MAR 27,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Kenneth E. Keiser			For	For	Management
1.2	Elect Director Gerald A. Schwalbach			For	For	Management
1.3	Elect Director John P. Wiehoff			For	For	Management
2	Ratify Auditors			For	For	Management
3	Amend Omnibus Stock Plan			For	For	Management
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CAPITAL ONE FINANCIAL CORP.
Ticker:		COF	Security ID:	14040H105
Meeting Date: APR 27,  2006			Meeting Type: Annual
Record Date:  FEB 28,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Richard D. Fairbank			For	For	Management
1.2	Elect Director E.R. Campbell			For	For	Management
1.3	Elect Director Stanley Westreich			For	For	Management
2	Ratify Auditors			For	For	Management
3	Amend Omnibus Stock Plan			For	For	Management
4	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
CARNIVAL CORP.
Ticker:		CCL	Security ID:	143658300
Meeting Date: APR 20,  2006			Meeting Type: Annual
Record Date:  FEB 21,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect	Director Micky Arison		For	For	Management
1.2	Elect	Director Amb Richard G. Capen Jr		For	For	Management
1.3	Elect	Director Robert H. Dickinson		For	For	Management
1.4	Elect	Director Arnold W. Donald		For	For	Management
1.5	Elect	Director Pier Luigi Foschi		For	For	Management
1.6	Elect	Director Howard S. Frank		For	For	Management
1.7	Elect	Director Richard J. Glasier		For	For	Management
1.8	Elect	Director Baroness Hogg		For	Against	Management

1.9	Elect	Director A. Kirk Lanterman		For	For	Management
1.10	Elect	Director Modesto A. Maidique		For	For	Management
1.11	Elect	Director Sir John Parker		For	For	Management
1.12	Elect	Director Peter G. Ratcliffe		For	For	Management
1.13	Elect	Director Stuart Subotnick		For	For	Management
1.14	Elect	Director Uzi Zucker		For	For	Management
2	Ratify Auditors			For	For	Management
3	TO AUTHORIZE THE AUDIT COMMITTEE OF			For	For	Management
	CARNIVAL PLC TO AGREE TO THE REMUNERATION
	OF THE INDEPENDENT AUDITORS.
4	TO RECEIVE THE ACCOUNTS AND REPORTS FOR			For	For	Management
	CARNIVAL PLC FOR THE FINANCIAL YEAR ENDED
	NOVEMBER 30, 2005.
5	TO APPROVE THE DIRECTORS REMUNERATION			For	For	Management
	REPORT OF CARNIVAL PLC.
6	TO APPROVE LIMITS ON THE AUTHORITY TO			For	For	Management
	ALLOT SHARES BY CARNIVAL PLC.
7	TO APPROVE THE DISAPPLICATION OF			For	For	Management
	PRE-EMPTION RIGHTS FOR CARNIVAL PLC.
8	TO APPROVE A GENERAL AUTHORITY FOR			For	For	Management
	CARNIVAL PLC TO BUY BACK CARNIVAL PLC
	ORDINARY SHARES IN THE OPEN MARKET.
--------------------------------------------------------------------------------
CATERPILLAR INC.
Ticker:		CAT	Security ID: 149123101
Meeting Date: JUN 14, 2006			Meeting Type: Annual
Record Date:  APR 17, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director David R. Goode			For	For	Management
1.2	Elect Director James W. Owens			For	For	Management
1.3	Elect Director Charles D. Powell			For	For	Management
1.4	Elect Director Joshua I. Smith			For	For	Management
2	Increase Authorized Common Stock			For	For	Management
3	Approve Omnibus Stock Plan			For	Against	Management
4	Approve Executive Incentive Bonus Plan			For	For	Management
5	Ratify Auditors			For	For	Management
6	Declassify the Board of Directors			Against	For	Shareholder
7	Separate Chairman and CEO Positions			Against	Against	Shareholder
8	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
CITIGROUP INC.
Ticker:		C	Security ID: 172967101
Meeting Date: APR 18, 2006			Meeting Type: Annual
Record Date:  FEB 24, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director C. Michael Armstrong			For	For	Management

1.2	Elect Director Alain J.P. Belda			For	For	Management
1.3	Elect Director George David			For	For	Management
1.4	Elect Director Kenneth T. Derr			For	For	Management
1.5	Elect Director John M. Deutch			For	For	Management
1.6	Elect Director Roberto Hernandez Ramirez			For	For	Management
1.7	Elect Director Ann Dibble Jordan			For	For	Management
1.8	Elect Director Klaus Kleinfeld			For	For	Management
1.9	Elect Director Andrew N. Liveris			For	For	Management
1.10	Elect Director Dudley C. Mecum			For	For	Management
1.11	Elect Director Anne M. Mulcahy			For	For	Management
1.12	Elect Director Richard D. Parsons			For	For	Management
1.13	Elect Director Charles Prince			For	For	Management
1.14	Elect Director Dr. Judith Rodin			For	For	Management
1.15	Elect Director Robert E. Rubin			For	For	Management
1.16	Elect Director Franklin A. Thomas			For	For	Management
2	Ratify Auditors			For	For	Management
3	Reduce Supermajority Vote Requirement			For	For	Management
4	Reduce Supermajority Vote Requirement			For	For	Management
5	Reduce Supermajority Vote Requirement			For	For	Management
6	End Issuance of Options and Prohibit			Against	Against	Shareholder
	Repricing
7	Report on Political Contributions			Against	Against	Shareholder
8	Report on Charitable Contributions			Against	Against	Shareholder
9	Performance-Based Equity Awards			Against	Against	Shareholder
10	Reimbursement of Expenses Incurred by			Against	Against	Shareholder
	Shareholder(s)
11	Separate Chairman and CEO Positions			Against	Against	Shareholder
12	Clawback of Payments Under Restatement			Against	Against	Shareholder
--------------------------------------------------------------------------------
COCA-COLA ENTERPRISES INC.
Ticker:		CCE	Security ID: 191219104
Meeting Date: APR 28, 2006			Meeting Type: Annual
Record Date: MAR 1, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Calvin Darden			For	For	Management
1.2	Elect Director J. Alexander M. Douglas			For	For	Management
	Jr.
1.3	Elect Director Marvin J. Herb			For	For	Management
1.4	Elect Director Donna A. James			For	For	Management
1.5	Elect Director Lowry F. Kline			For	For	Management
2	Ratify Auditors			For	For	Management
3	Eliminate or Restrict Severance			Against	Against	Shareholder
	Agreements (Change-in-Control)
--------------------------------------------------------------------------------
COMCAST CORP.
Ticker:		CMCSA	Security ID: 20030N101
Meeting Date: MAY 18, 2006			Meeting Type: Annual
Record Date: MAR 10, 2006

#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director S. Decker Anstrom			For	For	Management
1.2	Elect Director Kenneth J. Bacon			For	For	Management
1.3	Elect Director Sheldon M. Bonovitz			For	For	Management
1.4	Elect Director Edward D. Breen			For	For	Management
1.5	Elect Director Julian A. Brodsky			For	For	Management
1.6	Elect Director Joseph J. Collins			For	For	Management
1.7	Elect Director J. Michael Cook			For	For	Management
1.8	Elect Director Jeffrey A. Honickman			For	For	Management
1.9	Elect Director Brian L. Roberts			For	For	Management
1.10	Elect Director Ralph J. Roberts			For	For	Management
1.11	Elect Director Judith Rodin			For	For	Management
1.12	Elect Director Michael I. Sovern			For	For	Management
2	Ratify Auditors			For	For	Management
3	Amend Qualified Employee Stock Purchase			For	For	Management
	Plan
4	Amend Restricted Stock Plan			For	For	Management
5	Approve Executive Incentive Bonus Plan			For	For	Management
6	Put Repricing of Stock Options to			Against	Against	Shareholder
	Shareholder Vote
7	Separate Chairman and CEO Positions			Against	Against	Shareholder
8	Limit Executive Compensation			Against	Against	Shareholder
9	Company-Specific-Adopt Recapitalization			Against	For	Shareholder
	Plan
10	Establish Other Board Committee			Against	Against	Shareholder
--------------------------------------------------------------------------------
COMMERCE BANCORP, INC.
Ticker:		CBH	Security ID: 200519106
Meeting Date: MAY 16, 2006			Meeting Type: Annual
Record Date: APR 3, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Vernon W. Hill, II			For	Withhold	Management
1.2	Elect Director Jack R. Bershad			For	Withhold	Management
1.3	Elect Director Joseph E. Buckelew			For	Withhold	Management
1.4	Elect Director Donald T. DiFrancesco			For	Withhold	Management
1.5	Elect Director Morton N. Kerr			For	Withhold	Management
1.6	Elect Director Steven M. Lewis			For	Withhold	Management
1.7	Elect Director John K. Lloyd			For	Withhold	Management
1.8	Elect Director George E. Norcross, III			For	Withhold	Management
1.9	Elect Director Daniel J. Ragone			For	Withhold	Management
1.10	Elect Director William A. Schwartz, Jr.			For	Withhold	Management
1.11	Elect Director Joseph T. Tarquini, Jr.			For	Withhold	Management
1.12	Elect Director Joseph S. Vassalluzzo			For	Withhold	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
COMMUNITY HEALTH SYSTEMS, INC.
Ticker:		CYH	Security ID: 203668108

Meeting Date: MAY 23,  2006			Meeting Type: Annual
Record Date: MAR 31,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director John A. Clerico			For	For	Management
1.2	Elect Director Julia B. North			For	For	Management
1.3	Elect Director Wayne T. Smith			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
CORPORATE EXECUTIVE BOARD CO. (THE)
Ticker:		EXBD	Security ID: 21988R102
Meeting Date: JUN 23,  2006			Meeting Type: Annual
Record Date: MAY 3, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director James J. Mcgonigle			For	For	Management
1.2	Elect Director Thomas L. Monahan III			For	For	Management
1.3	Elect Director Russell P. Fradin			For	For	Management
1.4	Elect Director Robert C. Hall			For	For	Management
1.5	Elect Director Nancy J. Karch			For	For	Management
1.6	Elect Director David W. Kenny			For	For	Management
1.7	Elect Director Daniel O. Leemon			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
COUNTRYWIDE FINANCIAL CORP.
Ticker:		CFC	Security ID:	222372104
Meeting Date: JUN 14,  2006			Meeting Type: Annual
Record Date: APR 17,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Kathleen Brown			For	Withhold	Management
1.2	Elect Director Jeffrey M. Cunningham			For	Withhold	Management
1.3	Elect Director Martin R. Melone			For	Withhold	Management
1.4	Elect Director Robert T. Parry			For	Withhold	Management
2	Approve Omnibus Stock Plan			For	Against	Management
3	Ratify Auditors			For	For	Management
4	Approve Report of the Compensation			Against	Against	Shareholder
	Committee
--------------------------------------------------------------------------------
CROWN HOLDINGS, INC.
Ticker:		CCK	Security ID:	228368106
Meeting Date: APR 27,  2006			Meeting Type: Annual
Record Date: MAR 14,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor

1.1	Elect Director Jenne K. Britell			For	Did Not	Management
					Vote
1.2	Elect Director John W. Conway			For	Did Not	Management
					Vote
1.3	Elect Director Arnold W. Donald			For	Did Not	Management
					Vote
1.4	Elect Director Marie L. Garibaldi			For	Did Not	Management
					Vote
1.5	Elect Director William G. Little			For	Did Not	Management
					Vote
1.6	Elect Director Hans J. Loliger			For	Did Not	Management
					Vote
1.7	Elect Director Thomas A. Ralph			For	Did Not	Management
					Vote
1.8	Elect Director Hugues du Rouret			For	Did Not	Management
					Vote
1.9	Elect Director Alan W. Rutherford			For	Did Not	Management
					Vote
1.10	Elect Director Harold A. Sorgenti			For	Did Not	Management
					Vote
1.11	Elect Director Jim L. Turner			For	Did Not	Management
					Vote
1.12	Elect Director William S. Urkiel			For	Did Not	Management
					Vote
2	Ratify Auditors			For	Did Not	Management
					Vote
3	Approve Omnibus Stock Plan			For	Did Not	Management
					Vote
--------------------------------------------------------------------------------
CUMMINS , INC.
Ticker:		CMI	Security ID:	231021106
Meeting Date: MAY 9, 2006			Meeting Type: Annual
Record Date: MAR 20, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Robert J. Darnall			For	For	Management
1.2	Elect Director John M. Deutch			For	Withhold	Management
1.3	Elect Director Alexis M. Herman			For	For	Management
1.4	Elect Director F. Joseph Loughrey			For	For	Management
1.5	Elect Director William I. Miller			For	For	Management
1.6	Elect Director Georgia R. Nelson			For	For	Management
1.7	Elect Director Theodore M. Solso			For	For	Management
1.8	Elect Director Carl Ware			For	For	Management
1.9	Elect Director J. Lawrence Wilson			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
DANAHER CORP.
Ticker:		DHR	Security ID:	235851102
Meeting Date: MAY 2, 2006			Meeting Type: Annual

Record Date:  MAR 6, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Mortimer M. Caplin			For	Withhold	Management
1.2	Elect Director Donald J. Ehrlich			For	Withhold	Management
1.3	Elect Director Linda P. Hefner			For	Withhold	Management
1.4	Elect Director Walter G. Lohr, Jr.			For	Withhold	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
DEERE	& CO.
Ticker:		DE	Security ID:	244199105
Meeting Date: FEB 22, 2006			Meeting Type: Annual
Record Date:  DEC 31, 2005
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect	Director Crandall C. Bowles		For	For	Management
1.2	Elect	Director Vance D. Coffman		For	For	Management
1.3	Elect	Director Arthur L. Kelly		For	For	Management
1.4	Elect	Director Thomas H. Patrick		For	For	Management
2	Amend Omnibus Stock Plan			For	Against	Management
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
DEVON ENERGY CORP.
Ticker:		DVN	Security ID: 25179M103
Meeting Date: JUN 7, 2006			Meeting Type: Annual
Record Date:  APR 10, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Robert L. Howard			For	For	Management
1.2	Elect Director Micheal M. Kanovsky			For	For	Management
1.3	Elect Director J. Todd Mitchell			For	For	Management
1.4	Elect Director Larry Nichols			For	For	Management
2	Ratify Auditors			For	For	Management
3	Amend Omnibus Stock Plan			For	For	Management
--------------------------------------------------------------------------------
E*TRADE FINANCIAL CORP.
Ticker:		ET	Security ID:	269246104
Meeting Date: MAY 25, 2006			Meeting Type: Annual
Record Date:  APR 3, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Michael K. Parks			For	For	Management
1.2	Elect Director Lewis E. Randall			For	For	Management
1.3	Elect Director Stephen H. Willard			For	For	Management
2	Ratify Auditors			For	For	Management

--------------------------------------------------------------------------------
EBAY INC.
Ticker:		EBAY	Security ID:	278642103
Meeting Date: JUN 13, 2006			Meeting Type: Annual
Record Date: APR 17, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director William C. Ford, Jr.			For	Withhold	Management
1.2	Elect Director Dawn G. Lepore			For	For	Management
1.3	Elect Director Pierre M. Omidyar			For	For	Management
1.4	Elect Director Richard T. Sclosberg, III			For	For	Management
2	Amend Stock Option Plan			For	Against	Management
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
EMC CORP.
Ticker:		EMC	Security ID:	268648102
Meeting Date: MAY 4, 2006			Meeting Type: Annual
Record Date: MAR 6, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Gail Deegan			For	For	Management
1.2	Elect Director Olli-Pekka Kallasvuo			For	For	Management
1.3	Elect Director Windle B. Priem			For	For	Management
1.4	Elect Director Alfred M. Zeien			For	For	Management
2	Ratify Auditors			For	For	Management
3	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
4	Performance-Based and/or Time-Based			Against	Against	Shareholder
	Equity Awards
5	Declassify the Board of Directors			Against	For	Shareholder
6	Limit Composition of Committee(s) to			Against	For	Shareholder
	Independent Directors
--------------------------------------------------------------------------------
EOG RESOURCES, INC.
Ticker:		EOG	Security ID:	26875P101
Meeting Date: MAY 2, 2006			Meeting Type: Annual
Record Date: MAR 6, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director George A. Alcorn			For	For	Management
1.2	Elect Director Charles R. Crisp			For	For	Management
1.3	Elect Director Mark G. Papa			For	For	Management
1.4	Elect Director Edmund P. Segner, III			For	For	Management
1.5	Elect Director William D. Stevens			For	Withhold	Management
1.6	Elect Director H. Leighton Steward			For	For	Management

1.7	Elect Director Donald F. Textor			For	For	Management
1.8	Elect Director Frank G. Wisner			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
EVEREST RE GROUP LTD
Ticker:		RE	Security ID: G3223R108
Meeting Date: MAY 23, 2006			Meeting Type: Annual
Record Date:		MAR 27, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect	Director Martin Abrahams		For	Did Not	Management
					Vote
1.2	Elect	Director John R. Dunne		For	Did Not	Management
					Vote
1.3	Elect	Director John A. Weber		For	Did Not	Management
					Vote
2	Ratify Auditors			For	Did Not	Management
					Vote
3	TO APPROVE AN AMENDMENT TO THE EVEREST RE			For	Did Not	Management
	GROUP, LTD. 2002 STOCK INCENTIVE PLAN.				Vote
--------------------------------------------------------------------------------
EXPRESS SCRIPTS, INC.
Ticker:		ESRX	Security ID:	302182100
Meeting Date: MAY 24, 2006			Meeting Type: Annual
Record Date:		MAR 31, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Gary G. Benanav			For	For	Management
1.2	Elect Director Frank J. Borelli			For	For	Management
1.3	Elect Director Maura C. Breen			For	For	Management
1.4	Elect Director Nicholas J. LaHowchic			For	For	Management
1.5	Elect Director Thomas P. Mac Mahon			For	For	Management
1.6	Elect Director John O. Parker, Jr.			For	For	Management
1.7	Elect Director George Paz			For	For	Management
1.8	Elect Director Samuel K. Skinner			For	Withhold	Management
1.9	Elect Director Seymour Sternberg			For	For	Management
1.10	Elect Director Barrett A. Toan			For	For	Management
1.11	Elect Director Howard L. Waltman			For	For	Management
2	Increase Authorized Common Stock			For	For	Management
3	Amend Omnibus Stock Plan			For	For	Management
4	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
FAIR ISAAC CORP.
Ticker:		FIC	Security ID:	303250104
Meeting Date: FEB 6, 2006			Meeting Type: Annual

Record Date:  DEC 9, 2005
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect	Director A. George Battle			For	For	Management
1.2	Elect	Director Andrew Cecere			For	For	Management
1.3	Elect	Director Tony J. Christianson			For	For	Management
1.4	Elect	Director Thomas G. Grudnowski			For	For	Management
1.5	Elect	Director Alex W. Hart			For	For	Management
1.6	Elect	Director Guy R. Henshaw			For	For	Management
1.7	Elect	Director William J. Lansing			For	For	Management
1.8	Elect	Director Margaret L. Taylor			For	For	Management
2	Ratify Auditors				For	For	Management
--------------------------------------------------------------------------------
FORD MOTOR COMPANY
Ticker:		F	Security ID:	345370860
Meeting Date: MAY 11, 2006			Meeting Type: Annual
Record Date:  MAR 15, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director John R.H. Bond				For	For	Management
1.2	Elect Director Stephen G. Butler				For	For	Management
1.3	Elect Director Kimberly A. Casiano				For	For	Management
1.4	Elect Director Edsel B. Ford, II				For	For	Management
1.5	Elect Director William Clay Ford, Jr.				For	For	Management
1.6	Elect Director Irvine O. Hockaday, Jr.				For	For	Management
1.7	Elect Director Richard A. Manoogian				For	For	Management
1.8	Elect Director Ellen R. Marram				For	For	Management
1.9	Elect Director Homer A. Neal				For	For	Management
1.10	Elect Director Jorma Ollila				For	For	Management
1.11	Elect Director Robert E. Rubin				For	For	Management
1.12	Elect Director John L. Thornton				For	For	Management
2	Ratify Auditors				For	For	Management
3	Increase Disclosure of Executive				Against	Against	Shareholder
	Compensation
4	Report Influence on Government Regulation				Against	Against	Shareholder
	of Fuel Economy Standards
5	Provide for Cumulative Voting				Against	Against	Shareholder
6	Link Executive Compensation to Social				Against	Against	Shareholder
	Issues
7	Company-Specific -- Approve				Against	For	Shareholder
	Recapitalization Plan
8	Scientific Report on Global Warming				Against	Against	Shareholder
9	EEOC - Exclude Reference to Privacy				Against	Against	Shareholder
	Issues Related to Sexual Interests,
	Activities or Orientation
10	Separate Chairman and CEO Positions				Against	Against	Shareholder
--------------------------------------------------------------------------------
FREEPORT-MCMORAN COPPER & GOLD INC.
Ticker:		FCX	Security ID:	35671D857

Meeting Date: MAY 4, 2006			Meeting Type: Annual
Record Date: MAR 7, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Robert J. Allison, Jr.			For	For	Management
1.2	Elect Director Robert A. Day			For	For	Management
1.3	Elect Director Gerald J. Ford			For	For	Management
1.4	Elect Director H.Devon Graham, Jr.			For	For	Management
1.5	Elect Director J. Bennett Johnston			For	Withhold	Management
1.6	Elect Director Bobby Lee Lackey			For	For	Management
1.7	Elect Director Gabrielle K. McDonald			For	Withhold	Management
1.8	Elect Director James R. Moffet			For	For	Management
1.9	Elect Director B.M. Rankin, Jr.			For	Withhold	Management
1.10	Elect Director J. Stapleton Roy			For	Withhold	Management
1.11	Elect Director J. Taylor Wharton			For	For	Management
2	Ratify Auditors			For	For	Management
3	Approve Omnibus Stock Plan			For	For	Management
4	Review Payment Policy to Indonesian			Against	Against	Shareholder
	Military
--------------------------------------------------------------------------------
GENERAL DYNAMICS CORP.
Ticker:		GD	Security ID: 369550108
Meeting Date: MAY 3, 2006			Meeting Type: Annual
Record Date: MAR 10, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director N.D. Chabraja			For	Did Not	Management
					Vote
1.2	Elect Director J.S. Crown			For	Did Not	Management
					Vote
1.3	Elect Director W.P. Fricks			For	Did Not	Management
					Vote
1.4	Elect Director C.H. Goodman			For	Did Not	Management
					Vote
1.5	Elect Director J.L. Johnson			For	Did Not	Management
					Vote
1.6	Elect Director G.A. Joulwan			For	Did Not	Management
					Vote
1.7	Elect Director P.G. Kaminski			For	Did Not	Management
					Vote
1.8	Elect Director J.M. Keane			For	Did Not	Management
					Vote
1.9	Elect Director D.J. Lucas			For	Did Not	Management
					Vote
1.10	Elect Director L.L. Lyles			For	Did Not	Management
					Vote
1.11	Elect Director C.E. Mundy, Jr.			For	Did Not	Management
					Vote
1.12	Elect Director R. Walmsley			For	Did Not	Management
					Vote
2	Ratify Auditors			For	Did Not	Management
					Vote
3	Require a Majority Vote for the Election			Against	Did Not	Shareholder

	of Directors				Vote
4	Disqualification of Directors Who Fail to			Against	Did Not	Shareholder
	Receive Majority Vote				Vote
5	Separate Chairman and CEO Positions			Against	Did Not	Shareholder
					Vote
6	Report Political Contributions			Against	Did Not	Shareholder
					Vote
7	Sustainability Report			Against	Did Not	Shareholder
					Vote
--------------------------------------------------------------------------------
GENERAL MOTORS CORP.
Ticker:		GM	Security ID: 370442105
Meeting Date: JUN 6, 2006			Meeting Type: Annual
Record Date: APR 7, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Percy N. Barnevik			For	For	Management
1.2	Elect Director Erskine B. Bowles			For	For	Management
1.3	Elect Director John H. Bryan			For	For	Management
1.4	Elect Director Armando M. Codina			For	For	Management
1.5	Elect Director George M.C. Fisher			For	For	Management
1.6	Elect Director Karen Katen			For	For	Management
1.7	Elect Director Kent Kresa			For	For	Management
1.8	Elect Director Ellen J. Kullman			For	For	Management
1.9	Elect Director Philip A. Laskawy			For	For	Management
1.10	Elect Director Eckhard Pfeiffer			For	For	Management
1.11	Elect Director G. Richard Wagoner, Jr.			For	For	Management
1.12	Elect Director Jerome B. York			For	For	Management
2	Ratify Auditors			For	For	Management
3	Limit Executive Compensation			Against	Against	Shareholder
4	Report on Global Warming			Against	Against	Shareholder
5	Separate Chairman and CEO Positions			Against	Against	Shareholder
6	Claw-back of Payments under Restatements			Against	Against	Shareholder
7	Restore or Provide for Cumulative Voting			Against	Against	Shareholder
8	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
GENWORTH FINANCIAL, INC.
Ticker:		GNW	Security ID: 37247D106
Meeting Date: MAY 17, 2006			Meeting Type: Annual
Record Date: MAR 24, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Frank J. Borelli			For	For	Management
1.2	Elect Director Michael D. Fraizer			For	For	Management
1.3	Elect Director Nancy J. Karch			For	For	Management
1.4	Elect Director J. Robert Bob Kerrey			For	For	Management
1.5	Elect Director Saiyid T. Naqvi			For	For	Management
1.6	Elect Director James A. Parke			For	For	Management

1.7	Elect Director James S. Riepe				For	For	Management
1.8	Elect Director Thomas B. Wheeler				For	For	Management
2	Ratify Auditors				For	For	Management
--------------------------------------------------------------------------------
GOOGLE INC
Ticker:		GOOG	Security ID:	38259P508
Meeting Date: MAY 11, 2006			Meeting Type: Annual
Record Date: MAR 17, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Eric Schmidt				For	For	Management
1.2	Elect Director Sergey Brin				For	For	Management
1.3	Elect Director Larry Page				For	For	Management
1.4	Elect Director L. John Doerr				For	For	Management
1.5	Elect Director John L. Hennessy				For	For	Management
1.6	Elect Director Arthur D. Levinson				For	For	Management
1.7	Elect Director Ann Mather				For	For	Management
1.8	Elect Director Michael Moritz				For	For	Management
1.9	Elect Director Paul S. Otellini				For	For	Management
1.10	Elect Director K. Ram Shriram				For	For	Management
1.11	Elect Director Shirley M. Tilghman				For	For	Management
2	Ratify Auditors				For	For	Management
3	Amend Omnibus Stock Plan				For	Against	Management
4	Company-Specific-Recapitalization Plan				Against	For	Shareholder
--------------------------------------------------------------------------------
HARLEY-DAVIDSON, INC.
Ticker:		HDI	Security ID:	412822108
Meeting Date: APR 29, 2006			Meeting Type: Annual
Record Date: MAR 9, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Jeffrey L. Bluestein				For	For	Management
1.2	Elect Director Donald A. James				For	For	Management
1.3	Elect Director James A. Norling				For	For	Management
1.4	Elect Director James L. Ziemer				For	For	Management
2	Ratify Auditors				For	For	Management
--------------------------------------------------------------------------------
HCA, INC.
Ticker:		HCA	Security ID:	404119109
Meeting Date: MAY 25, 2006			Meeting Type: Annual
Record Date: MAR 31, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director C. Michael Armstrong				For	For	Management
1.2	Elect Director Magdalena H. Averhoff,				For	For	Management

	M.D.
1.3	Elect Director Jack O. Bovender, Jr.			For	For	Management
1.4	Elect Director Richard M. Bracken			For	For	Management
1.5	Elect Director Martin Feldstein			For	For	Management
1.6	Elect Director Thomas F. Frist, Jr., M.D.			For	For	Management
1.7	Elect Director Frederick W. Gluck			For	For	Management
1.8	Elect Director Glenda A. Hatchett			For	For	Management
1.9	Elect Director Charles O. Holliday, Jr.			For	For	Management
1.10	Elect Director T. Michael Long			For	For	Management
1.11	Elect Director John H. McArthur			For	For	Management
1.12	Elect Director Kent C. Nelson			For	For	Management
1.13	Elect Director Frank S. Royal, M.D.			For	Withhold	Management
1.14	Elect Director Harold T. Shapiro			For	For	Management
2	Ratify Auditors			For	For	Management
3	Performance-Based			Against	Against	Shareholder
4	Stock Retention/Holding Period			Against	Against	Shareholder
--------------------------------------------------------------------------------
HEALTH MANAGEMENT ASSOCIATES, INC.
Ticker:		HMA	Security ID: 421933102
Meeting Date: FEB 21, 2006			Meeting Type: Annual
Record Date: DEC 23, 2005
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director William J. Schoen			For	For	Management
1.2	Elect Director Joseph V. Vumbacco			For	For	Management
1.3	Elect Director Kent P.Dauten			For	For	Management
1.4	Elect Director Donald E. Kiernan			For	For	Management
1.5	Elect Director Robert A. Knox			For	For	Management
1.6	Elect Director William E. Mayberry, M.D.			For	For	Management
1.7	Elect Director Vicki A. O'Meara			For	For	Management
1.8	Elect Director William C. Steere, Jr.			For	For	Management
1.9	Elect Director Randolph W. Westerfield,			For	For	Management
	Ph.D.
2	Approve Non-Employee Director Restricted			For	For	Management
	Stock Plan
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
HEWLETT-PACKARD CO.
Ticker:		HPQ	Security ID: 428236103
Meeting Date: MAR 15, 2006			Meeting Type: Annual
Record Date: JAN 17, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director P.C. Dunn			For	For	Management
1.2	Elect Director L.T. Babbio, Jr.			For	For	Management
1.3	Elect Director S.M. Baldauf			For	For	Management
1.4	Elect Director R.A. Hackborn			For	For	Management
1.5	Elect Director J.H. Hammergren			For	For	Management
1.6	Elect Director M.V. Hurd			For	For	Management

1.7	Elect Director G.A. Keyworth Ii			For	For	Management
1.8	Elect Director T.J. Perkins			For	For	Management
1.9	Elect Director R.L. Ryan			For	For	Management
1.10	Elect Director L.S. Salhany			For	For	Management
1.11	Elect Director R.P. Wayman			For	For	Management
2	Ratify Auditors			For	For	Management
3	Approve Executive Incentive Bonus Plan			For	For	Management
4	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
5	Claw-Back of Payments under Restatement			Against	Against	Shareholder
--------------------------------------------------------------------------------
HOME DEPOT, INC. (THE)
Ticker:		HD	Security ID: 437076102
Meeting Date: MAY 25, 2006			Meeting Type: Annual
Record Date: MAR 28, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Gregory D. Brenneman			For	Withhold	Management
1.2	Elect Director John L. Clendenin			For	Withhold	Management
1.3	Elect Director Claudio X. Gonzalez			For	Withhold	Management
1.4	Elect Director Milledge A. Hart, III			For	Withhold	Management
1.5	Elect Director Bonnie G. Hill			For	Withhold	Management
1.6	Elect Director Laban P. Jackson, Jr.			For	Withhold	Management
1.7	Elect Director Lawrence R. Johnston			For	Withhold	Management
1.8	Elect Director Kenneth G. Langone			For	Withhold	Management
1.9	Elect Director Angelo R. Mozilo			For	Withhold	Management
1.10	Elect Director Robert L. Nardelli			For	Withhold	Management
1.11	Elect Director Thomas J. Ridge			For	Withhold	Management
2	Ratify Auditors			For	For	Management
3	Increase Disclosure of Executive			Against	For	Shareholder
	Compensation
4	Report on EEOC-Related Activities			Against	For	Shareholder
5	Separate Chairman and CEO Positions			Against	For	Shareholder
6	Require a Majority Vote for the Election			Against	For	Shareholder
	of Directors
7	Submit Supplemental Executive Retirement			Against	For	Shareholder
	Plans to Shareholder vote
8	Report on Political Contributions			Against	For	Shareholder
9	Increase Disclosure of Executive			Against	For	Shareholder
	Compensation
10	Affirm Political Non-partisanship			Against	Against	Shareholder
--------------------------------------------------------------------------------
JANUS CAPITAL GROUP INC.
Ticker:		JNS	Security ID: 47102X105
Meeting Date: APR 25, 2006			Meeting Type: Annual
Record Date: FEB 27, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Michael D. Bills			For	For	Management

1.2	Elect Director Landon H. Rowland			For	For	Management
1.3	Elect Director Steven L. Scheid			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
JETBLUE AIRWAYS CORP
Ticker:		JBLU	Security ID:	477143101
Meeting Date: MAY 18, 2006			Meeting Type: Annual
Record Date: MAR 31, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Dr. Kim Clark			For	For	Management
1.2	Elect Director Joel Peterson			For	For	Management
1.3	Elect Director Ann Rhoades			For	For	Management
1.4	Elect Director Angela Gittens			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
JOHNSON & JOHNSON
Ticker:		JNJ	Security ID:	478160104
Meeting Date: APR 27, 2006			Meeting Type: Annual
Record Date: FEB 28, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Mary S. Coleman			For	For	Management
1.2	Elect Director James G. Cullen			For	For	Management
1.3	Elect Director Robert J. Darretta			For	For	Management
1.4	Elect Director Michael M. E. Johns			For	For	Management
1.5	Elect Director Ann D. Jordan			For	For	Management
1.6	Elect Director Arnold G. Langbo			For	For	Management
1.7	Elect Director Susan L. Lindquist			For	For	Management
1.8	Elect Director Leo F. Mullin			For	For	Management
1.9	Elect Director Christine A. Poon			For	For	Management
1.10	Elect Director Charles Prince			For	For	Management
1.11	Elect Director Steven S. Reinemund			For	For	Management
1.12	Elect Director David Satcher			For	For	Management
1.13	Elect Director William C. Weldon			For	For	Management
2	Amend Articles to Remove Antitakeover			For	For	Management
	Provision
3	Ratify Auditors			For	For	Management
4	Disclose Charitable Contributions			Against	Against	Shareholder
5	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
L-3	COMMUNICATIONS HOLDINGS, INC.
Ticker:		LLL	Security ID:	502424104
Meeting Date: APR 25, 2006			Meeting Type: Annual

Record Date: MAR 17, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Peter A. Cohen			For	For	Management
1.2	Elect Director Robert B. Millard			For	For	Management
1.3	Elect Director Arthur L. Simon			For	For	Management
2	Ratify Auditors			For	For	Management
3	Amend Qualified Employee Stock Purchase			For	For	Management
	Plan
--------------------------------------------------------------------------------
LAS VEGAS SANDS CORP
Ticker:		LVS	Security ID:	517834107
Meeting Date: JUN 7, 2006			Meeting Type: Annual
Record Date: APR 14, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director William P. Weidner			For	Withhold	Management
1.2	Elect Director Michael A. Leven			For	Withhold	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
LEHMAN BROTHERS HOLDINGS INC.
Ticker:		LEH	Security ID:	524908100
Meeting Date: APR 5, 2006			Meeting Type: Annual
Record Date: FEB 10, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Thomas H. Cruikshank			For	For	Management
1.2	Elect Director Roland A. Hernandez			For	For	Management
1.3	Elect Director Henry Kaufman			For	For	Management
1.4	Elect Director John D. Macomber			For	For	Management
2	Ratify Auditors			For	For	Management
3	Increase Authorized Common Stock			For	For	Management
4	Declassify the Board of Directors			For	For	Management
--------------------------------------------------------------------------------
LENNAR CORP.
Ticker:		LEN	Security ID:	526057104
Meeting Date: MAR 30, 2006			Meeting Type: Annual
Record Date: FEB 6, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Steven L. Gerard			For	For	Management
1.2	Elect Director Sidney Lapidus			For	For	Management
2	Declassify the Board of Directors			Against	For	Shareholder
3	Performance-Based and/or Time-Based			Against	Against	Shareholder
	Equity Awards

--------------------------------------------------------------------------------
LINCARE HOLDINGS, INC.
Ticker:		LNCR	Security ID:	532791100
Meeting Date: MAY 15,  2006			Meeting Type: Annual
Record Date: MAR 31,  2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director J.P. Byrnes				For	For	Management
1.2	Elect Director S.H. Altman, Ph.D.				For	For	Management
1.3	Elect Director C.B. Black				For	For	Management
1.4	Elect Director F.D. Byrne, M.D.				For	For	Management
1.5	Elect Director W.F. Miller, III				For	For	Management
--------------------------------------------------------------------------------
MARATHON OIL CORP
Ticker:		MRO	Security ID:	565849106
Meeting Date: APR 26,  2006			Meeting Type: Annual
Record Date: FEB 27,  2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Clarence P. Cazalot				For	For	Management
1.2	Elect Director David A. Daberko				For	For	Management
1.3	Elect Director William L. Davis				For	For	Management
2	Ratify Auditors				For	For	Management
3	Declassify the Board of Directors				For	For	Management
4	Eliminate Class of Preferred Stock				For	For	Management
5	Require a Majority Vote for the Election				Against	Against	Shareholder
	of Directors
6	Adopt Simple Majority Vote Requirement				Against	For	Shareholder
--------------------------------------------------------------------------------
MCGRAW-HILL COMPANIES, INC., THE
Ticker:		MHP	Security ID:	580645109
Meeting Date: APR 26,  2006			Meeting Type: Annual
Record Date: MAR 7, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director James H. Ross				For	Withhold	Management
1.2	Elect Director Kurt L. Schmoke				For	Withhold	Management
1.3	Elect Director Sidney Taurel				For	Withhold	Management
2	Ratify Auditors				For	For	Management
3	Declassify the Board of Directors				Against	For	Shareholder
--------------------------------------------------------------------------------
MOTOROLA, INC.

Ticker:		MOT	Security ID: 620076109
Meeting Date: MAY 1, 2006			Meeting Type: Annual
Record Date: MAR 3, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director E. Zander			For	For	Management
1.2	Elect Director H.L. Fuller			For	For	Management
1.3	Elect Director J. Lewent			For	For	Management
1.4	Elect Director T. Meredith			For	For	Management
1.5	Elect Director N. Negroponte			For	For	Management
1.6	Elect Director I. Nooyi			For	For	Management
1.7	Elect Director S. Scott, III			For	For	Management
1.8	Elect Director R. Sommer			For	For	Management
1.9	Elect Director J. Stengel			For	For	Management
1.10	Elect Director D. Warner, III			For	For	Management
1.11	Elect Director J. White			For	For	Management
1.12	Elect Director M. White			For	For	Management
2	Approve Omnibus Stock Plan			For	Against	Management
3	Submit Shareholder Rights Plan (Poison			Against	For	Shareholder
	Pill) to Shareholder Vote
--------------------------------------------------------------------------------
NUCOR CORP.
Ticker:		NUE	Security ID: 670346105
Meeting Date: MAY 11, 2006			Meeting Type: Annual
Record Date: MAR 13, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Clayton C. Daley, Jr.			For	For	Management
1.2	Elect Director Harvey B. Grant			For	For	Management
2	Ratify Auditors			For	For	Management
3	Increase Authorized Common Stock			For	For	Management
4	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
NVR, INC.
Ticker:		NVR	Security ID: 62944T105
Meeting Date: MAY 4, 2006			Meeting Type: Annual
Record Date: MAR 1, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director C. Scott Bartlett, Jr.			For	For	Management
1.2	Elect Director Timothy M. Donahue			For	For	Management
1.3	Elect Director William A. Moran			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------

OCCIDENTAL PETROLEUM CORP.
Ticker:		OXY	Security ID:	674599105
Meeting Date: MAY 5, 2006			Meeting Type: Annual
Record Date: MAR 6, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Spencer Abraham			For	For	Management
1.2	Elect Director Ronald W. Burkle			For	Withhold	Management
1.3	Elect Director John S. Chalsty			For	For	Management
1.4	Elect Director Edward P. Djerejian			For	For	Management
1.5	Elect Director R. Chad Dreier			For	For	Management
1.6	Elect Director John E. Feick			For	For	Management
1.7	Elect Director Ray R. Irani			For	For	Management
1.8	Elect Director Irvin W. Maloney			For	For	Management
1.9	Elect Director Rodolfo Segovia			For	For	Management
1.10	Elect Director Aziz D. Syriani			For	For	Management
1.11	Elect Director Rosemary Tomich			For	For	Management
1.12	Elect Director Walter L. Weisman			For	For	Management
2	Ratify Auditors			For	For	Management
3	Increase Authorized Common Stock			For	For	Management
4	Limit Executive Compensation			Against	Against	Shareholder
5	Report on Global Warming			Against	Against	Shareholder
6	Require a Majority Vote for the Election Against				Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
OFFICE DEPOT, INC.
Ticker:		ODP	Security ID:	676220106
Meeting Date: MAY 12, 2006			Meeting Type: Annual
Record Date: MAR 10, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Lee A. Ault, III			For	For	Management
1.2	Elect Director Neil R. Austrian			For	For	Management
1.3	Elect Director David W. Bernauer			For	For	Management
1.4	Elect Director Abelardo E. Bru			For	For	Management
1.5	Elect Director David I. Fuente			For	For	Management
1.6	Elect Director Brenda J. Gaines			For	For	Management
1.7	Elect Director Myra M. Hart			For	For	Management
1.8	Elect Director W. Scott Hedrick			For	For	Management
1.9	Elect Director Michael J. Myers			For	For	Management
1.10	Elect Director Steve Odland			For	For	Management
2	Ratify Auditors			For	For	Management
3	Require a Majority Vote for the Election Against				Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
PACCAR INC.
Ticker:		PCAR	Security ID:	693718108
Meeting Date: APR 25, 2006			Meeting Type: Annual

Record Date: FEB 28, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director James C. Pigott			For	For	Management
1.2	Elect Director Mark C. Pigott			For	For	Management
1.3	Elect Director William G. Reed, Jr.			For	For	Management
2	Amend Omnibus Stock Plan			For	For	Management
3	Amend Executive Incentive Bonus Plan			For	For	Management
4	Declassify the Board of Directors			Against	For	Shareholder
5	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
PETRO-CANADA
Ticker:		PCA.	Security ID: 71644E102
Meeting Date: APR 25, 2006			Meeting Type: Annual
Record Date: MAR 8, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Ron A. Brenneman			For	For	Management
1.2	Elect Director Angus A. Bruneau			For	For	Management
1.3	Elect Director Gail Cook-Bennett			For	For	Management
1.4	Elect Director Richard J. Currie			For	For	Management
1.5	Elect Director Claude Fontaine			For	For	Management
1.6	Elect Director Paul Haseldonckx			For	For	Management
1.7	Elect Director Thomas E. Kierans			For	For	Management
1.8	Elect Director Brian F. MacNeill			For	For	Management
1.9	Elect Director Maureen McCaw			For	For	Management
1.10	Elect Director Paul D. Melnuk			For	For	Management
1.11	Elect Director Guylaine Saucier			For	For	Management
1.12	Elect Director James W. Simpson			For	For	Management
2	Ratify Deloitte & Touche LLP as Auditors			For	For	Management
--------------------------------------------------------------------------------
PETRO-CANADA
Ticker:		PCA.	Security ID: CA71644E1025
Meeting Date: APR 25, 2006			Meeting Type: Annual
Record Date: MAR 8, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Ron A. Brenneman			For	For	Management
1.2	Elect Director Angus A. Bruneau			For	For	Management
1.3	Elect Director Gail Cook-Bennett			For	For	Management
1.4	Elect Director Richard J. Currie			For	For	Management
1.5	Elect Director Claude Fontaine			For	For	Management
1.6	Elect Director Paul Haseldonckx			For	For	Management
1.7	Elect Director Thomas E. Kierans			For	For	Management
1.8	Elect Director Brian F. MacNeill			For	For	Management
1.9	Elect Director Maureen McCaw			For	For	Management
1.10	Elect Director Paul D. Melnuk			For	For	Management
1.11	Elect Director Guylaine Saucier			For	For	Management

1.12	Elect Director James W. Simpson			For	For	Management
2	Ratify Deloitte & Touche LLP as Auditors			For	For	Management
--------------------------------------------------------------------------------
PFIZER INC.
Ticker:		PFE	Security ID: 717081103
Meeting Date: APR 27, 2006			Meeting Type: Annual
Record Date: MAR 1, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Michael S. Brown			For	Withhold	Management
1.2	Elect Director M. Anthony Burns			For	Withhold	Management
1.3	Elect Director Robert N. Burt			For	Withhold	Management
1.4	Elect Director W. Don Cornwell			For	Withhold	Management
1.5	Elect Director William H. Gray, III			For	Withhold	Management
1.6	Elect Director Constance J. Horner			For	Withhold	Management
1.7	Elect Director William R. Howell			For	Withhold	Management
1.8	Elect Director Stanley O. Ikenberry			For	Withhold	Management
1.9	Elect Director George A. Lorch			For	Withhold	Management
1.10	Elect Director Henry A. McKinnell			For	Withhold	Management
1.11	Elect Director Dana G. Mead			For	Withhold	Management
1.12	Elect Director Ruth J. Simmons			For	Withhold	Management
1.13	Elect Director William C. Steere, Jr.			For	Withhold	Management
2	Ratify Auditors			For	For	Management
3	Reduce Supermajority Vote Requirement			For	For	Management
4	Establish Term Limits for Directors			Against	Against	Shareholder
5	Social Proposal			Against	Against	Shareholder
6	Restore or Provide for Cumulative Voting			Against	Against	Shareholder
7	Separate Chairman and CEO Positions			Against	Against	Shareholder
8	Report on Political Contributions			Against	Against	Shareholder
9	Report on Animal Welfare Policy			Against	Against	Shareholder
10	Reort on Animal-based Testing			Against	Against	Shareholder
--------------------------------------------------------------------------------
PHELPS DODGE CORP.
Ticker:		PD	Security ID: 717265102
Meeting Date: MAY 26, 2006			Meeting Type: Annual
Record Date: APR 6, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Charles C. Krulak			For	For	Management
1.2	Elect Director Dustan E. McCoy			For	For	Management
1.3	Elect Director William J. Post			For	For	Management
1.4	Elect Director Martin H. Richenhagen			For	For	Management
1.5	Elect Director Jack E. Thompson			For	For	Management
2	Approve Non-Employee Director Stock			For	For	Management
	Option Plan
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------

QUALCOMM INC.
Ticker:		QCOM	Security ID:	747525103
Meeting Date: MAR 7, 2006			Meeting Type: Annual
Record Date: JAN 6, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Richard C. Atkinson				For	Withhold	Management
1.2	Elect Director Diana Lady Dougan				For	Withhold	Management
1.3	Elect Director Peter M. Sacerdote				For	Withhold	Management
1.4	Elect Director Marc I. Stern				For	Withhold	Management
2	Declassify the Board and Eliminate				For	For	Management
	Cumulative Voting
3	Amend Omnibus Stock Plan				For	For	Management
4	Ratify Auditors				For	For	Management
5	Adjourn Meeting				For	For	Management
--------------------------------------------------------------------------------
QUEST DIAGNOSTICS, INCORPORATED
Ticker:		DGX	Security ID:	74834L100
Meeting Date: MAY 4, 2006			Meeting Type: Annual
Record Date: MAR 20, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Jenne K. Britell, Ph.D.				For	For	Management
1.2	Elect Director Gail R. Wilensky, Ph.D.				For	For	Management
1.3	Elect Director John B. Ziegler				For	For	Management
2	Ratify Auditors				For	For	Management
3	Increase Authorized Common Stock				For	For	Management
4	Approve Nonqualified Employee Stock				For	For	Management
	Purchase Plan
--------------------------------------------------------------------------------
R.H. DONNELLEY CORP.
Ticker:		RHD	Security ID:	74955W307
Meeting Date: JAN 25, 2006			Meeting Type: Special
Record Date: DEC 19, 2005
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1	Approve Merger Agreement				For	For	Management
2	Adjourn Meeting				For	For	Management
--------------------------------------------------------------------------------
R.H. DONNELLEY CORP.
Ticker:		RHD	Security ID:	74955W307
Meeting Date: JUN 1, 2006			Meeting Type: Annual
Record Date: APR 14, 2006

#	Proposal				Mgt Rec	Vote Cast	Sponsor
1	Elect Director Nancy E. Cooper				For	For	Management
2	Elect Director R. Glenn Hubbard				For	For	Management
3	Elect Director Robert Kamerschen				For	For	Management
4	Elect Director David C. Swanson				For	For	Management
5	Ratify Auditor				For	For	Management
--------------------------------------------------------------------------------
RED ROBIN GOURMET BURGERS INC
Ticker:		RRGB	Security ID: 75689M101
Meeting Date: JUN 1, 2006			Meeting Type: Annual
Record Date: APR 17, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Richard J. Howell				For	Withhold	Management
1.2	Elect Director James T. Rothe				For	Withhold	Management
1.3	Elect Director J. Taylor Simonton				For	Withhold	Management
2	Ratify Auditors				For	For	Management
--------------------------------------------------------------------------------
SEARS HOLDINGS CORP
Ticker:		SHLD	Security ID:	812350106
Meeting Date: APR 12, 2006			Meeting Type: Annual
Record Date: FEB 24, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Donald J. Carty				For	Withhold	Management
1.2	Elect Director William C. Crowley				For	For	Management
1.3	Elect Director Alan J. Lacy				For	For	Management
1.4	Elect Director Edward S. Lampert				For	For	Management
1.5	Elect Director Aylwin B. Lewis				For	For	Management
1.6	Elect Director Steven T. Mnuchin				For	For	Management
1.7	Elect Director Richard C. Perry				For	For	Management
1.8	Elect Director Ann N. Reese				For	For	Management
1.9	Elect Director Thomas J. Tisch				For	For	Management
2	Approve Qualified Employee Stock Purchase				For	For	Management
	Plan
3	Approve Restricted Stock Plan				For	For	Management
4	Approve Executive Incentive Bonus Plan				For	For	Management
5	Ratify Auditors				For	For	Management
--------------------------------------------------------------------------------
SHERWIN-WILLIAMS CO., THE
Ticker:		SHW	Security ID:	824348106
Meeting Date: APR 19, 2006			Meeting Type: Annual
Record Date: MAR 3, 2006

#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Fix Number of and Elect Director A.F.			For	For	Management
	ANTON
1.2	Elect Director J.C. Boland			For	For	Management
1.3	Elect Director C.M. Connor			For	For	Management
1.4	Elect Director D.E. Evans			For	For	Management
1.5	Elect Director D.F. Hodnik			For	For	Management
1.6	Elect Director S.J. Kropt			For	For	Management
1.7	Elect Director R.W. Mahoney			For	For	Management
1.8	Elect Director G.E. McCullough			For	For	Management
1.9	Elect Director A.M. Mixon, III			For	For	Management
1.10	Elect Director C.E. Moll			For	For	Management
1.11	Elect Director R.K. Smucker			For	For	Management
2	Approve Omnibus Stock Plan			For	For	Management
3	Approve Non-Employee Director Omnibus			For	For	Management
	Stock Plan
4	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
SOUTHWEST AIRLINES CO.
Ticker:		LUV	Security ID: 844741108
Meeting Date: MAY 17, 2006			Meeting Type: Annual
Record Date: MAR 22, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Colleen C. Barrett			For	Withhold	Management
1.2	Elect Director Gary C. Kelly			For	Withhold	Management
1.3	Elect Director John T. Montford			For	Withhold	Management
1.4	Elect Director William H. Cunningham			For	Withhold	Management
1.5	Elect Director Louis E. Caldera			For	Withhold	Management
1.6	Elect Director Nancy B. Loeffler			For	Withhold	Management
1.7	Elect Director David W. Biegler			For	Withhold	Management
2	Amend Qualified Employee Stock Purchase			For	For	Management
	Plan
3	Ratify Auditors			For	For	Management
4	Adopt Simple Majority Vote			Against	For	Shareholder
--------------------------------------------------------------------------------
STAPLES, INC.
Ticker:		SPLS	Security ID: 855030102
Meeting Date: JUN 6, 2006			Meeting Type: Annual
Record Date: APR 10, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Basil L. Anderson			For	For	Management
1.2	Elect Director Robert C. Nakasone			For	For	Management
1.3	Elect Director Ronald L. Sargent			For	For	Management
1.4	Elect Director Stephen F. Schuckenbrock			For	For	Management
2	Declassify the Board of Directors			For	For	Management
3	Ratify Auditors			For	For	Management
4	Require a Majority Vote for the Election			Against	Against	Shareholder

	of Directors
--------------------------------------------------------------------------------
STATE STREET CORP. (BOSTON)
Ticker:		STT	Security ID:	857477103
Meeting Date: APR 19, 2006			Meeting Type: Annual
Record Date:  FEB 24, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director T. Albright				For	For	Management
1.2	Elect Director K. Burnes				For	For	Management
1.3	Elect Director N. Darehshori				For	For	Management
1.4	Elect Director A. Goldstein				For	For	Management
1.5	Elect Director D. Gruber				For	For	Management
1.6	Elect Director L. Hill				For	For	Management
1.7	Elect Director C. LaMantia				For	For	Management
1.8	Elect Director R. Logue				For	For	Management
1.9	Elect Director R. Sergel				For	For	Management
1.10	Elect Director R. Skates				For	For	Management
1.11	Elect Director G. Summe				For	For	Management
1.12	Elect Director D. Walsh				For	For	Management
1.13	Elect Director R. Weissman				For	For	Management
2	Ratify Auditors				For	For	Management
3	Approve Omnibus Stock Plan				For	For	Management
4	Amend Executive Incentive Bonus Plan				For	For	Management
5	Submit Shareholder Rights Plan (Poison				Against	For	Shareholder
	Pill) to Shareholder Vote
--------------------------------------------------------------------------------
SUNCOR ENERGY INC
Ticker:		SU.	Security ID:	867229106
Meeting Date: APR 26, 2006			Meeting Type: Annual
Record Date:  FEB 27, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect	Director Mel E. Benson			For	For	Management
1.2	Elect	Director Brian A. Canfield			For	For	Management
1.3	Elect	Director Bryan P. Davies			For	For	Management
1.4	Elect	Director Brian A. Felesky			For	For	Management
1.5	Elect	Director John T. Ferguson			For	For	Management
1.6	Elect	Director W. Douglas Ford			For	For	Management
1.7	Elect	Director Richard L. George			For	For	Management
1.8	Elect	Director John R. Huff			For	For	Management
1.9	Elect	Director M. Ann McCaig			For	For	Management
1.10	Elect	Director Michael W. O'Brien			For	For	Management
1.11	Elect	Director JR Shaw			For	For	Management
1.12	Elect	Director Eira M. Thomas			For	For	Management
2	Ratify PricewaterhouseCoopers as Auditors				For	For	Management
--------------------------------------------------------------------------------

TD AMERITRADE HOLDINGS CORP.
Ticker:		AMTD	Security ID: 03074K100
Meeting Date: MAR 9, 2006			Meeting Type: Annual
Record Date: JAN 26,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director W. Edmund Clark			For	Did Not	Management
					Vote
1.2	Elect Director Michael D. Fleisher			For	Did Not	Management
					Vote
1.3	Elect Director Glenn H. Hutchins			For	Did Not	Management
					Vote
1.4	Elect Director Joseph H. Moglia			For	Did Not	Management
					Vote
1.5	Elect Director Thomas S. Ricketts			For	Did Not	Management
					Vote
2	Ratify Auditors			For	Did Not	Management
					Vote
3	Amend Omnibus Stock Plan			For	Did Not	Management
					Vote
4	Other Business			For	Did Not	Management
					Vote
--------------------------------------------------------------------------------
TEXAS INSTRUMENTS INC.
Ticker:		TXN	Security ID:	882508104
Meeting Date: APR 20,  2006			Meeting Type: Annual
Record Date: FEB 21,  2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director J.R. Adams			For	For	Management
1.2	Elect Director D.L. Boren			For	For	Management
1.3	Elect Director D.A. Carp			For	For	Management
1.4	Elect Director C.S. Cox			For	For	Management
1.5	Elect Director T.J. Engibous			For	For	Management
1.6	Elect Director G.W. Fronterhouse			For	For	Management
1.7	Elect Director D.R. Goode			For	For	Management
1.8	Elect Director P.H. Patsley			For	For	Management
1.9	Elect Director W.R. Sanders			For	For	Management
1.10	Elect Director R.J. Simmons			For	For	Management
1.11	Elect Director R.K. Templeton			For	For	Management
1.12	Elect Director C.T. Whitman			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
TIMBERLAND CO., THE
Ticker:		TBL	Security ID:	887100105
Meeting Date: MAY 18,  2006			Meeting Type: Annual
Record Date: MAR 23,  2006

#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Sidney W. Swartz				For	Withhold	Management
1.2	Elect Director Jeffrey B. Swartz				For	Withhold	Management
1.3	Elect Director Ian W. Diery				For	Withhold	Management
1.4	Elect Director Irene M. Esteves				For	Withhold	Management
1.5	Elect Director John A. Fitzsimmons				For	Withhold	Management
1.6	Elect Director Virginia H. Kent				For	Withhold	Management
1.7	Elect Director Kenneth T. Lombard				For	Withhold	Management
1.8	Elect Director Edward W. Moneypenny				For	Withhold	Management
1.9	Elect Director Peter R. Moore				For	Withhold	Management
1.10	Elect Director Bill Shore				For	Withhold	Management
1.11	Elect Director Terdema L. Ussery, Ii				For	Withhold	Management
--------------------------------------------------------------------------------
U.S. BANCORP
Ticker:		USB	Security ID:	902973304
Meeting Date: APR 18, 2006			Meeting Type: Annual
Record Date: FEB 27, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Peter H. Coors				For	For	Management
1.2	Elect Director Jerry A. Grundhofer				For	For	Management
1.3	Elect Director Patrick T. Stokes				For	For	Management
2	Ratify Auditors				For	For	Management
3	Approve Executive Incentive Bonus Plan				For	Against	Management
4	Declassify the Board of Directors				Against	For	Shareholder
5	Approve Report of the Compensation				Against	For	Shareholder
	Committee
--------------------------------------------------------------------------------
UNITED PARCEL SERVICE, INC.
Ticker:		UPS	Security ID:	911312106
Meeting Date: MAY 4, 2006			Meeting Type: Annual
Record Date: MAR 9, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director John J. Beystehner				For	For	Management
1.2	Elect Director Michael J. Burns				For	For	Management
1.3	Elect Director D. Scott Davis				For	For	Management
1.4	Elect Director Stuart E. Eizenstat				For	For	Management
1.5	Elect Director Michael L. Eskew				For	For	Management
1.6	Elect Director James P. Kelly				For	For	Management
1.7	Elect Director Ann M. Livermore				For	For	Management
1.8	Elect Director Gary E. MacDougal				For	For	Management
1.9	Elect Director Victor A. Pelson				For	For	Management
1.10	Elect Director John W. Thompson				For	For	Management
1.11	Elect Director Carol B. Tome				For	For	Management
1.12	Elect Director Ben Verwaayen				For	For	Management
2	Ratify Auditors				For	For	Management

--------------------------------------------------------------------------------
UNITED STATES STEEL CORP.
Ticker:		X	Security ID:	912909108
Meeting Date: APR 25,  2006			Meeting Type: Annual
Record Date: FEB 24,  2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director J. Gary Cooper				For	For	Management
1.2	Elect Director Frank J. Lucchino				For	For	Management
1.3	Elect Director Seth E. Schofield				For	For	Management
1.4	Elect Director John P. Suma				For	For	Management
2	Ratify Auditors				For	For	Management
--------------------------------------------------------------------------------
UNITEDHEALTH GROUP INCORPORATED
Ticker:		UNH	Security ID:	91324P102
Meeting Date: MAY 2, 2006			Meeting Type: Annual
Record Date: MAR 21,  2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director James A. Johnson				For	Withhold	Management
1.2	Elect Director Douglas W. Leatherdale				For	For	Management
1.3	Elect Director William W. McGuire, M.D.				For	For	Management
1.4	Elect Director Mary O. Mundinger, Ph.D.				For	For	Management
2	Ratify Auditors				For	For	Management
3	Require a Majority Vote for the Election				Against	Against	Shareholder
	of Directors
--------------------------------------------------------------------------------
VALERO ENERGY CORP.
Ticker:		VLO	Security ID:	91913Y100
Meeting Date: APR 27,  2006			Meeting Type: Annual
Record Date: MAR 1, 2006
#	Proposal				Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Jerry D. Choate				For	For	Management
1.2	Elect Director William R. Klesse				For	For	Management
1.3	Elect Director Donald L. Nickles				For	For	Management
1.4	Elect Director Susan Kaufman Purcell				For	For	Management
2	Ratify Auditors				For	For	Management
--------------------------------------------------------------------------------
WASHINGTON MUTUAL, INC
Ticker:		WM	Security ID:	939322103
Meeting Date: APR 18,  2006			Meeting Type: Annual

Record Date: FEB 24, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Kerry K. Killinger			For	For	Management
1.2	Elect Director Thomas C. Leppert			For	For	Management
1.3	Elect Director Charles M. Lillis			For	For	Management
1.4	Elect Director Michael K. Murphy			For	For	Management
1.5	Elect Director Orin C. Smith			For	For	Management
1.6	Elect Director Regina Montoya			For	For	Management
2	Ratify Auditors			For	For	Management
3	Amend Omnibus Stock Plan			For	Against	Management
4	Approve Executive Incentive Bonus Plan			For	For	Management
5	Declassify the Board of Directors			For	For	Management
6	Report on Political Contributions			Against	Against	Shareholder
--------------------------------------------------------------------------------
WELLS FARGO & COMPANY
Ticker:		WFC	Security ID: 949746101
Meeting Date: APR 25, 2006			Meeting Type: Annual
Record Date: MAR 7, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Lloyd H. Dean			For	For	Management
1.2	Elect Director Susan E. Engel			For	For	Management
1.3	Elect Director Enrique Hernandez, Jr.			For	For	Management
1.4	Elect Director Robert L. Joss			For	For	Management
1.5	Elect Director Richard M. Kovacevich			For	For	Management
1.6	Elect Director Richard D. McCormick			For	For	Management
1.7	Elect Director Cynthia H. Milligan			For	For	Management
1.8	Elect Director Nicholas G. Moore			For	For	Management
1.9	Elect Director Philip J. Quigley			For	For	Management
1.10	Elect Director Donald B. Rice			For	For	Management
1.11	Elect Director Judith M. Runstad			For	For	Management
1.12	Elect Director Stephen W. Sanger			For	For	Management
1.13	Elect Director Susan G. Swenson			For	For	Management
1.14	Elect Director Michael W. Wright			For	For	Management
2	Ratify Auditors			For	For	Management
3	Require a Majority Vote for the Election			Against	Against	Shareholder
	of Directors
4	Separate Chairman and CEO Positions			Against	Against	Shareholder
5	Compensation- Director Compensation			Against	Against	Shareholder
6	Report on Discrimination in Lending			Against	Against	Shareholder
--------------------------------------------------------------------------------
WHIRLPOOL CORP.
Ticker:		WHR	Security ID: 963320106
Meeting Date: APR 18, 2006			Meeting Type: Annual
Record Date: MAR 3, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Gary T. DiCamillo			For	For	Management

1.2	Elect Director Kathleen J. Hempel			For	For	Management
1.3	Elect Director Arnold G. Langbo			For	For	Management
1.4	Elect Director David L. Swift			For	For	Management
1.5	Elect Director Michael A. Todman			For	For	Management
--------------------------------------------------------------------------------
WHOLE FOODS MARKET, INC.
Ticker:		WFMI	Security ID:	966837106
Meeting Date: MAR 6, 2006			Meeting Type: Annual
Record Date: JAN 9, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director David W. Dupree			For	Withhold	Management
1.2	Elect Director John B. Elstrott			For	Withhold	Management
1.3	Elect Director Gabrielle E. Greene			For	Withhold	Management
1.4	Elect Director Hass Hassan			For	Withhold	Management
1.5	Elect Director John P. Mackey			For	Withhold	Management
1.6	Elect Director Linda A. Mason			For	Withhold	Management
1.7	Elect Director Morris J. Siegel			For	Withhold	Management
1.8	Elect Director Ralph Z. Sorenson			For	Withhold	Management
2	Ratify Auditors			For	For	Management
3	Reduce Supermajority Vote Requirement			For	For	Management
4	Report on Energy Efficiency			Against	Against	Shareholder
5	Report on Toxic Substances			Against	Against	Shareholder
6	Amend Vote Requirements to Amend			Against	For	Shareholder
	Articles/Bylaws/Charter
--------------------------------------------------------------------------------
XM SATELLITE RADIO HOLDINGS INC.
Ticker:		XMSR	Security ID:	983759101
Meeting Date: MAY 26, 2006			Meeting Type: Annual
Record Date: APR 14, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Gary M. Parsons			For	For	Management
1.2	Elect Director Hugh Panero			For	For	Management
1.3	Elect Director Nathaniel A. Davis			For	For	Management
1.4	Elect Director Thomas J. Donohue			For	For	Management
1.5	Elect Director Eddy W. Hartenstein			For	For	Management
1.6	Elect Director George W. Haywood			For	For	Management
1.7	Elect Director Chester A. Huber, Jr.			For	For	Management
1.8	Elect Director John Mendel			For	Withhold	Management
1.9	Elect Director Jarl Mohn			For	For	Management
1.10	Elect Director Jack Shaw			For	For	Management
1.11	Elect Director Jeffrey D. Zients			For	For	Management
2	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
XTO ENERGY INC

Ticker:		XTO	Security ID: 98385X106
Meeting Date: MAY 16, 2006			Meeting Type: Annual
Record Date: MAR 31, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Phillip R. Kevil			For	For	Management
1.2	Elect Director Herbert D. Simons			For	For	Management
1.3	Elect Director Vaughn O. Vennerberg, II			For	For	Management
1.4	Elect Director Lane G. Collins			For	For	Management
2	Increase Authorized Common Stock			For	For	Management
3	Amend Omnibus Stock Plan			For	Against	Management
4	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
YAHOO!, INC.
Ticker:		YHOO	Security ID:	984332106
Meeting Date: MAY 25, 2006			Meeting Type: Annual
Record Date: MAR 29, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director Terry S. Semel			For	For	Management
1.2	Elect Director Jerry Yang			For	For	Management
1.3	Elect Director Roy J. Bostock			For	For	Management
1.4	Elect Director Ronald W. Burkle			For	For	Management
1.5	Elect Director Eric Hippeau			For	For	Management
1.6	Elect Director Arthur H. Kern			For	For	Management
1.7	Elect Director Vyomesh Joshi			For	For	Management
1.8	Elect Director Robert A. Kotick			For	For	Management
1.9	Elect Director Edward R. Kozel			For	For	Management
1.10	Elect Director Gary L. Wilson			For	For	Management
2	Amend Non-Employee Director Omnibus Stock			For	For	Management
	Plan
3	Ratify Auditors			For	For	Management
--------------------------------------------------------------------------------
YUM BRANDS, INC.
Ticker:		YUM	Security ID:	988498101
Meeting Date: MAY 18, 2006			Meeting Type: Annual
Record Date: MAR 20, 2006
#	Proposal			Mgt Rec	Vote Cast	Sponsor
1.1	Elect Director David W. Dorman			For	For	Management
1.2	Elect Director Massimo Ferragamo			For	For	Management
1.3	Elect Director J. David Grissom			For	For	Management
1.4	Elect Director Bonnie G. Hill			For	Withhold	Management
1.5	Elect Director Robert Holland, Jr.			For	For	Management
1.6	Elect Director Kenneth G. Langone			For	For	Management
1.7	Elect Director Jonathan S. Linen			For	For	Management
1.8	Elect Director Thomas C. Nelson			For	For	Management
1.9	Elect Director David C. Novak			For	For	Management

1.10	Elect Director Thomas M. Ryan	For	For	Management
1.11	Elect Director Jackie Trujillo	For	For	Management
1.12	Elect Director Robert J. Ulrich	For	For	Management
2	Ratify Auditors	For	For	Management
3	Prepare a Diversity Report	Against	Against	Shareholder
4	Implement MacBride Principles	Against	Against	Shareholder
5	Label Genetically Modified Organisms	Against	Against	Shareholder
	(GMO)
6	Report on Animal Welfare Standards	Against	Against	Shareholder

Any ballot marked 'Abstain' is considered to have been voted. Ballots marked 'Abstain' are considered to have been voted against management's recommendation if management's recommendation is 'For' or 'Against,' and for management's recommendation if management's recommendation is 'Abstain.' Where management has recommended that shareholders 'Abstain' from voting on a ballot item, a ballot marked '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, 'None' is used to indicate that there is no management recommendation that a shareholder may vote 'For' or 'Against.'

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 INVESTORS FUND
__________________________________________________________________________
(Registrant)

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

Date: August 11, 2006