SM&R Investments 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:  811-6477
SM&R Investments Inc.
(Exact name of registrant as specified in charter)
2450 South Shore Blvd., Suite 400
League City, TX 77573
(Address of principal executive offices) (Zip code)
Brenda T. Koelemay
Securities Management and Research, Inc.
2450 South Shore Blvd., Suite 400
League City, TX 77573
(Name and address of agent for service)
Registrant's telephone number, including area code:  (281) 334-2469
Date of fiscal year end:  August 31
Date of reporting period:  July 1, 2004 - June 30, 2005
Item 1.	Proxy Voting Record
SM&R BALANCED PORTFOLIO
KROLL, INC.			KROL		Special Meeting Date: 07/08/2004
Issuer: 501049		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	APPROVE MERGER AGREEMENT		Management	For	For	No
02	APPROVE MOTION TO ADJOURN MEETING		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	4,600	4,600	06/28/2004
DELL INC.			DELL		Annual Meeting Date: 07/16/2004
Issuer: 24702R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DONALD J. CARTY	Management	For	For
		MICHAEL S. DELL	Management	For	For
		WILLIAM H. GRAY, III	Management	For	For
		JUDY C. LEWENT	Management	For	For
		THOMAS W. LUCE, III	Management	For	For
		KLAUS S. LUFT	Management	For	For
		ALEX J. MANDL	Management	For	For
		MICHAEL A. MILES	Management	For	For
		SAMUEL A. NUNN, JR.	Management	For	For
		KEVIN B. ROLLINS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	6,900	6,900	07/12/2004
VODAFONE GROUP PLC			VOD		Annual Meeting Date: 07/27/2004
Issuer: 92857W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
02	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
03	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
04	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
05	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
06	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
07	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
08	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
09	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
10	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
11	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
12	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
13	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
14	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	5,500	5,500	07/12/2004
THE ST. PAUL TRAVELERS COMPANIES, IN			STA		Annual Meeting Date: 07/28/2004
Issuer: 792860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		H.P. BERKOWITZ	Management	For	For
		K.J. BIALKIN	Management	For	For
		C.H. BYRD	Management	For	For
		J.H. DASBURG	Management	For	For
		L.B. DISHAROON	Management	For	For
		J.M. DOLAN	Management	For	For
		K.M. DUBERSTEIN	Management	For	For
		J.S. FISHMAN	Management	For	For
		L.G. GRAEV	Management	For	For
		M.D. HARTZBAND	Management	For	For
		T.R. HODGSON	Management	For	For
		W.H. KLING	Management	For	For
		J.A. LAWRENCE	Management	For	For
		R.I. LIPP	Management	For	For
		B.J. MCGARVIE	Management	For	For
		G.D. NELSON, MD	Management	For	For
		C. OTIS, JR.	Management	For	For
		J.M. PEEK	Management	For	For
		N.A. ROSEMAN	Management	For	For
		C.W. SCHARF	Management	For	For
		G.M. SPRENGER	Management	For	For
		F.J. TASCO	Management	For	For
		L.J. THOMSEN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	108	854	854	07/22/2004
VERITAS SOFTWARE CORPORATION			VRTS		Annual Meeting Date: 08/25/2004
Issuer: 923436		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL BROWN	Management	For	For
		KURT J. LAUK	Management	For	For
		FRED VAN DEN BOSCH	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	2,200	2,200	08/10/2004
H&R BLOCK, INC.			HRB		Annual Meeting Date: 09/08/2004
Issuer: 093671		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DONNA R. ECTON	Management	For	For
		LOUIS W. SMITH	Management	For	For
		RAYFORD WILKINS, JR.	Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
03	AMEND STOCK OPTION PLAN		Management	For	For	No
04	AMEND STOCK OPTION PLAN		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	105	2,700	2,700	08/31/2004
H.J. HEINZ COMPANY			HNZ		Annual Meeting Date: 09/08/2004
Issuer: 423074		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		W.R. JOHNSON	Management	For	For
		C.E. BUNCH	Management	For	For
		M.C. CHOKSI	Management	For	For
		L.S. COLEMAN, JR.	Management	For	For
		P.H. COORS	Management	For	For
		E.E. HOLIDAY	Management	For	For
		C. KENDLE	Management	For	For
		D.R. O'HARE	Management	For	For
		L.C. SWANN	Management	For	For
		T.J. USHER	Management	For	For
		J.M. ZIMMERMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	2,600	2,600	08/31/2004
CONAGRA FOODS, INC.			CAG		Annual Meeting Date: 09/23/2004
Issuer: 205887		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management			No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management			No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management			No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder			No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	6,100	0
THE PROCTER & GAMBLE COMPANY			PG		Annual Meeting Date: 10/12/2004
Issuer: 742718		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		R. KERRY CLARK	Management	For	For
		JOSEPH T. GORMAN	Management	For	For
		LYNN M. MARTIN	Management	For	For
		RALPH SNYDERMAN	Management	For	For
		ROBERT D. STOREY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
04	MISCELLANEOUS CORPORATE GOVERNANCE		Management			No
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	7,200	7,200	09/27/2004
SARA LEE CORPORATION			SLE		Annual Meeting Date: 10/28/2004
Issuer: 803111		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		B. BARNES	Management	For	For
		J.T. BATTENBERG III	Management	For	For
		C. COKER	Management	For	For
		J. CROWN	Management	For	For
		W. DAVIS	Management	For	For
		V. JORDAN, JR.	Management	For	For
		L. KOELLNER	Management	For	For
		C. VAN LEDE	Management	For	For
		J. MANLEY	Management	For	For
		C. STEVEN MCMILLAN	Management	For	For
		I. PROSSER	Management	For	For
		R. RIDGWAY	Management	For	For
		R. THOMAS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	7,200	7,200	10/14/2004
WACHOVIA CORPORATION			WB		Special Meeting Date: 10/28/2004
Issuer: 929903		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	APPROVE MERGER AGREEMENT		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	3,600	3,600	10/14/2004
ORACLE CORPORATION			ORCL		Annual Meeting Date: 10/29/2004
Issuer: 68389X		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JEFFREY O. HENLEY	Management	For	For
		LAWRENCE J. ELLISON	Management	For	For
		DONALD L. LUCAS	Management	For	For
		MICHAEL J. BOSKIN	Management	For	For
		JACK F. KEMP	Management	For	For
		JEFFREY S. BERG	Management	For	For
		SAFRA CATZ	Management	For	For
		HECTOR GARCIA-MOLINA	Management	For	For
		JOSEPH A. GRUNDFEST	Management	For	For
		H. RAYMOND BINGHAM	Management	For	For
		CHARLES E. PHILLIPS, JR	Management	For	For
02	APPROVE EXECUTIVE BONUS PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	105	3,700	3,700	10/14/2004
FEDERAL HOME LOAN MORTGAGE CORPORATI			FRE		Annual Meeting Date: 11/04/2004
Issuer: 313400		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BARBARA T. ALEXANDER	Management	For	For
		GEOFFREY T. BOISI	Management	For	For
		MICHELLE ENGLER	Management	For	For
		RICHARD KARL GOELTZ	Management	For	For
		THOMAS S. JOHNSON	Management	For	For
		WILLIAM M. LEWIS, JR.	Management	For	For
		JOHN B. MCCOY	Management	For	For
		EUGENE M. MCQUADE	Management	For	For
		SHAUN F. O'MALLEY	Management	For	For
		RONALD F. POE	Management	For	For
		STEPHEN A. ROSS	Management	For	For
		RICHARD F. SYRON	Management	For	For
		WILLIAM J. TURNER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	For	No
04	AMEND STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	301	3,900	3,900	10/25/2004
MICROSOFT CORPORATION			MSFT		Annual Meeting Date: 11/09/2004
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM H. GATES III	Management	For	For
		STEVEN A. BALLMER	Management	For	For
		JAMES I. CASH JR.	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		A. MCLAUGHLIN KOROLOGOS	Management	For	For
		DAVID F. MARQUARDT	Management	For	For
		CHARLES H. NOSKI	Management	For	For
		HELMUT PANKE	Management	For	For
		JON A. SHIRLEY	Management	For	For
02	AMEND STOCK OPTION PLAN		Management	For	For	No
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
04	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	23,300	23,300	11/01/2004
SUN MICROSYSTEMS, INC.			SUNW		Annual Meeting Date: 11/10/2004
Issuer: 866810		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		SCOTT G. MCNEALY	Management	For	For
		JAMES L. BARKSDALE	Management	For	For
		STEPHEN M. BENNETT	Management	For	For
		L. JOHN DOERR	Management	For	For
		ROBERT J. FISHER	Management	For	For
		MICHAEL E. LEHMAN	Management	For	For
		M. KENNETH OSHMAN	Management	For	For
		NAOMI O. SELIGMAN	Management	For	For
		LYNN E. TURNER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	16,700	16,700	11/01/2004
CISCO SYSTEMS, INC.			CSCO		Annual Meeting Date: 11/18/2004
Issuer: 17275R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CAROL A. BARTZ	Management	For	For
		M. MICHELE BURNS	Management	For	For
		LARRY R. CARTER	Management	For	For
		JOHN T. CHAMBERS	Management	For	For
		DR. JAMES F. GIBBONS	Management	For	For
		DR. JOHN L. HENNESSY	Management	For	For
		RODERICK C. MCGEARY	Management	For	For
		JAMES C. MORGAN	Management	For	For
		JOHN P. MORGRIDGE	Management	For	For
		DONALD T. VALENTINE	Management	For	For
		STEVEN M. WEST	Management	For	For
		JERRY YANG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	23,100	23,100	11/08/2004
THE WALT DISNEY COMPANY			DIS		Annual Meeting Date: 02/11/2005
Issuer: 254687		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. BRYSON	Management	For	For
		JOHN S. CHEN	Management	For	For
		MICHAEL D. EISNER	Management	For	For
		JUDITH L. ESTRIN	Management	For	For
		ROBERT A. IGER	Management	For	For
		FRED H. LANGHAMMER	Management	For	For
		AYLWIN B. LEWIS	Management	For	For
		MONICA C. LOZANO	Management	For	For
		ROBERT W. MATSCHULLAT	Management	For	For
		GEORGE J. MITCHELL	Management	For	For
		LEO J. O'DONOVAN, S.J.	Management	For	For
		GARY L. WILSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - THIRD WORLD ISSUES		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	10,400	10,400	02/07/2005
HEALTH MANAGEMENT ASSOCIATES, INC.			HMA		Contested Annual Meeting Date: 02/15/2005
Issuer: 421933		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM J. SCHOEN	Management	For	For
		JOSEPH V. VUMBACCO	Management	For	For
		KENT P. DAUTEN	Management	For	For
		DONALD E. KIERNAN	Management	For	For
		ROBERT A. KNOX	Management	For	For
		WILLIAM E. MAYBERRY, MD	Management	For	For
		WILLIAM C. STEERE, JR.	Management	For	For
		R.W. WESTERFIELD, PH.D.	Management	For	For
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	3,800	3,800	02/07/2005
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management			No
02	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder		*Management Position Unknown	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder		*Management Position Unknown	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	3,800	3,800
MORGAN STANLEY			MWD		Annual Meeting Date: 03/15/2005
Issuer: 617446		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. JACOB	Management	For	For
		CHARLES F. KNIGHT	Management	For	For
		MILES L. MARSH	Management	For	For
		LAURA D'ANDREA TYSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	CLASSIFY/STAGGER BOARD OF DIRECTORS		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	448	6,100	6,100	03/09/2005
HEWLETT-PACKARD COMPANY			HPQ		Annual Meeting Date: 03/16/2005
Issuer: 428236		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		L.T. BABBIO, JR.	Management	For	For
		P.C. DUNN	Management	For	For
		R.A. HACKBORN	Management	For	For
		G.A. KEYWORTH II	Management	For	For
		R.E. KNOWLING, JR.	Management	For	For
		T.J. PERKINS	Management	For	For
		R.L. RYAN	Management	For	For
		L.S. SALHANY	Management	For	For
		R.P. WAYMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	1,800	1,800	03/10/2005
BECKMAN COULTER, INC.			BEC		Annual Meeting Date: 04/07/2005
Issuer: 075811		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HUGH K. COBLE	Management	For	For
		KEVIN M. FARR	Management	For	For
		VAN B. HONEYCUTT	Management	For	For
		BETTY WOODS	Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	2,400	2,400	04/04/2005
SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB		Annual Meeting Date: 04/13/2005
Issuer: 806857		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J. DEUTCH	Management	For	For
		J.S. GORELICK	Management	For	For
		A. GOULD	Management	For	For
		T. ISAAC	Management	For	For
		A. LAJOUS	Management	For	For
		A. LEVY-LANG	Management	For	For
		M.E. MARKS	Management	For	For
		D. PRIMAT	Management	For	For
		T.I. SANDVOLD	Management	For	For
		N. SEYDOUX	Management	For	For
		L.G. STUNTZ	Management	For	For
		R. TALWAR	Management	For	For
02	DIVIDEND		Management	For	For	No
3A	APPROVE ARTICLE AMENDMENTS		Management	For	For	No
3B	APPROVE ARTICLE AMENDMENTS		Management	For	For	No
4	ADOPT STOCK OPTION PLAN		Management	For	For	No
5	AMEND STOCK PURCHASE PLAN		Management	For	For	No
6	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	108	4,000	4,000	04/08/2005
BP P.L.C.			BP		Annual Meeting Date: 04/14/2005
Issuer: 055622		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DR D C ALLEN**	Management	For	For
		LORD BROWNE**	Management	For	For
		MR J H  BRYAN**	Management	For	For
		MR A  BURGMANS**	Management	For	For
		MR I C  CONN*	Management	For	For
		MR E B  DAVIS, JR**	Management	For	For
		MR D J  FLINT*	Management	For	For
		DR B E  GROTE**	Management	For	For
		DR A B  HAYWARD**	Management	For	For
		DR D S  JULIUS**	Management	For	For
		SIR TOM MCKILLOP*	Management	For	For
		MR J A  MANZONI**	Management	For	For
		DR W E  MASSEY**	Management	For	For
		MR H M P  MILES**	Management	For	For
		SIR IAN PROSSER**	Management	For	For
		MR M H WILSON**	Management	For	For
		MR P D SUTHERLAND**	Management	For	For
02	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	For	No
03	ALLOT SECURITIES		Management	For	For	No
04	ALLOT SECURITIES		Management	For	For	No
05	AUTHORIZE DIRECTORS TO REPURCHASE SHARES		Management	For	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
07	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
08	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	5,092	5,092	04/04/2005
CITIGROUP INC.			C		Annual Meeting Date: 04/19/2005
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		C. MICHAEL ARMSTRONG	Management	For	For
		ALAIN J.P. BELDA	Management	For	For
		GEORGE DAVID	Management	For	For
		KENNETH T. DERR	Management	For	For
		JOHN M. DEUTCH	Management	For	For
		R. HERNANDEZ RAMIREZ	Management	For	For
		ANN DIBBLE JORDAN	Management	For	For
		KLAUS KLEINFELD	Management	For	For
		DUDLEY C. MECUM	Management	For	For
		ANNE MULCAHY	Management	For	For
		RICHARD D. PARSONS	Management	For	For
		CHARLES PRINCE	Management	For	For
		JUDITH RODIN	Management	For	For
		ROBERT E. RUBIN	Management	For	For
		FRANKLIN A. THOMAS	Management	For	For
		SANFORD I. WEILL	Management	For	For
		ROBERT B. WILLUMSTAD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	For	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	14,500	14,500	04/14/2005
THE COCA-COLA COMPANY			KO		Annual Meeting Date: 04/19/2005
Issuer: 191216		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HERBERT A. ALLEN	Management	For	For
		RONALD W. ALLEN	Management	For	For
		CATHLEEN P. BLACK	Management	For	For
		WARREN E. BUFFETT	Management	For	For
		BARRY DILLER	Management	For	For
		E. NEVILLE ISDELL	Management	For	For
		DONALD R. KEOUGH	Management	For	For
		MARIA ELENA LAGOMASINO	Management	For	For
		DONALD F. MCHENRY	Management	For	For
		SAM NUNN	Management	For	For
		J. PEDRO REINHARD	Management	For	For
		JAMES D. ROBINSON III	Management	For	For
		PETER V. UEBERROTH	Management	For	For
		JAMES B. WILLIAMS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	6,000	6,000	04/14/2005
U.S. BANCORP			USB		Annual Meeting Date: 04/19/2005
Issuer: 902973		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOEL W. JOHNSON	Management	For	For
		DAVID B. O'MALEY	Management	For	For
		O'DELL M. OWENS MD, MPH	Management	For	For
		CRAIG D. SCHNUCK	Management	For	For
		WARREN R. STALEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	SUPERMAJORITY		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	304	14,500	14,500	04/14/2005
WACHOVIA CORPORATION			WB		Annual Meeting Date: 04/19/2005
Issuer: 929903		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN D. BAKER, II*	Management	For	For
		PETER C. BROWNING*	Management	For	For
		DONALD M. JAMES*	Management	For	For
		VAN L. RICHEY*	Management	For	For
		G. KENNEDY THOMPSON*	Management	For	For
		JOHN C. WHITAKER, JR.*	Management	For	For
		WALLACE D. MALONE, JR**	Management	For	For
		ROBERT J. BROWN***	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	3,600	3,600	04/14/2005
ALLTEL CORPORATION			AT		Annual Meeting Date: 04/21/2005
Issuer: 020039		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN R. BELK	Management	For	For
		GREGORY W. PENSKE	Management	For	For
		WARREN A. STEPHENS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	2,400	2,400	04/18/2005
PPG INDUSTRIES, INC.			PPG		Annual Meeting Date: 04/21/2005
Issuer: 693506		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHELE J. HOOPER	Management	For	For
		RAYMOND W. LEBOEUF	Management	For	For
		ROBERT MEHRABIAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	107	1,300	1,300	04/18/2005
SENSIENT TECHNOLOGIES CORPORATION			SXT		Annual Meeting Date: 04/21/2005
Issuer: 81725T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANK BROWN	Management	For	For
		JAMES A.D. CROFT	Management	For	For
		ALBERTO FERNANDEZ	Management	For	For
02	DECLASSIFY BOARD		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	7,400	7,400	04/18/2005
TEXAS INSTRUMENTS INCORPORATED			TXN		Annual Meeting Date: 04/21/2005
Issuer: 882508		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.R. ADAMS	Management	For	For
		D.L. BOREN	Management	For	For
		D.A. CARP	Management	For	For
		C.S. COX	Management	For	For
		T.J. ENGIBOUS	Management	For	For
		G.W. FRONTERHOUSE	Management	For	For
		D.R. GOODE	Management	For	For
		P.H. PATSLEY	Management	For	For
		W.R. SANDERS	Management	For	For
		R.J. SIMMONS	Management	For	For
		R.K. TEMPLETON	Management	For	For
		C.T. WHITMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT STOCK PURCHASE PLAN		Management	For	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	4,600	4,600	04/18/2005
WYETH			WYE		Annual Meeting Date: 04/21/2005
Issuer: 983024		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		R.L. CARRION	Management	For	For
		R. ESSNER	Management	For	For
		J.D. FEERICK	Management	For	For
		F.D. FERGUSSON	Management	For	For
		R. LANGER	Management	For	For
		J.P. MASCOTTE	Management	For	For
		M.L. POLAN	Management	For	For
		I.G. SEIDENBERG	Management	For	For
		W.V. SHIPLEY	Management	For	For
		J.R. TORELL III	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
07	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	3,100	3,100	04/18/2005
ABBOTT LABORATORIES			ABT		Annual Meeting Date: 04/22/2005
Issuer: 002824		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		R.S. AUSTIN	Management	For	For
		W.M. DALEY	Management	For	For
		H.L. FULLER	Management	For	For
		R.A. GONZALEZ	Management	For	For
		J.M. GREENBERG	Management	For	For
		J.M. LEIDEN	Management	For	For
		D.A.L. OWEN	Management	For	For
		B. POWELL, JR.	Management	For	For
		A.B. RAND	Management	For	For
		W.A. REYNOLDS	Management	For	For
		R.S. ROBERTS	Management	For	For
		W.D. SMITHBURG	Management	For	For
		J.R. WALTER	Management	For	For
		M.D. WHITE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
06	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
07	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	4,200	4,200	04/19/2005
ALCOA INC.			AA		Annual Meeting Date: 04/22/2005
Issuer: 013817		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOSEPH T. GORMAN	Management	For	For
		KLAUS KLEINFELD	Management	For	For
		JOSEPH T. GORMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	3,100	3,100	04/19/2005
ELECTRONIC DATA SYSTEMS CORPORATION			EDS		Annual Meeting Date: 04/22/2005
Issuer: 285661		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		W. ROY DUNBAR	Management	For	For
		MICHAEL H. JORDAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	DECLASSIFY BOARD		Management	For	For	No
04	SUPERMAJORITY		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	600	600	04/19/2005
HONEYWELL INTERNATIONAL INC.			HON		Annual Meeting Date: 04/25/2005
Issuer: 438516		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MARSHALL N. CARTER	Management	For	For
		DAVID M. COTE	Management	For	For
		BRADLEY T. SHEARES	Management	For	For
		JOHN R. STAFFORD	Management	For	For
		MICHAEL W. WRIGHT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	DECLASSIFY BOARD		Management	For	For	No
04	SUPERMAJORITY		Management	For	For	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	5,900	5,900	04/20/2005
ALLERGAN, INC.			AGN		Annual Meeting Date: 04/26/2005
Issuer: 018490		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		TREVOR M. JONES	Management	For	For
		KAREN R. OSAR	Management	For	For
		LEONARD D. SCHAEFFER	Management	For	For
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	1,700	1,700	04/21/2005
AMEREN CORPORATION			AEE		Annual Meeting Date: 04/26/2005
Issuer: 023608		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		SUSAN S. ELLIOTT	Management	For	For
		GAYLE P.W. JACKSON	Management	For	For
		JAMES C. JOHNSON	Management	For	For
		RICHARD A. LIDDY	Management	For	For
		GORDON R. LOHMAN	Management	For	For
		RICHARD A. LUMPKIN	Management	For	For
		PAUL L. MILLER, JR.	Management	For	For
		CHARLES W. MUELLER	Management	For	For
		DOUGLAS R. OBERHELMAN	Management	For	For
		GARY L. RAINWATER	Management	For	For
		HARVEY SALIGMAN	Management	For	For
		PATRICK T. STOKES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	3,000	3,000	04/21/2005
BANTA CORPORATION			BN		Annual Meeting Date: 04/26/2005
Issuer: 066821		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMESON A. BAXTER	Management	For	For
		JOHN F. BERGSTROM	Management	For	For
		HENRY T. DENERO	Management	For	For
		DAVID T. GIBBONS	Management	For	For
		PAUL C. REYELTS	Management	For	For
		RAY C. RICHELSEN	Management	For	For
		STEPHANIE A. STREETER	Management	For	For
		MICHAEL J. WINKLER	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	5,200	5,200	04/21/2005
INTERNATIONAL BUSINESS MACHINES CORP			IBM		Annual Meeting Date: 04/26/2005
Issuer: 459200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		C. BLACK	Management	For	For
		K.I. CHENAULT	Management	For	For
		J. DORMANN	Management	For	For
		M.L. ESKEW	Management	For	For
		C. GHOSN	Management	For	For
		C.F. KNIGHT	Management	For	For
		M. MAKIHARA	Management	For	For
		L.A. NOTO	Management	For	For
		S.J. PALMISANO	Management	For	For
		J.E. SPERO	Management	For	For
		S. TAUREL	Management	For	For
		C.M. VEST	Management	For	For
		L.H. ZAMBRANO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
07	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	For	No
	COMPENSATION
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	3,800	3,800	04/21/2005
MERCK & CO., INC.			MRK		Annual Meeting Date: 04/26/2005
Issuer: 589331		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROCHELLE B. LAZARUS	Management	For	For
		WILLIAM G. BOWEN	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		THOMAS E. SHENK	Management	For	For
		ANNE M. TATLOCK	Management	For	For
		SAMUEL O. THIER	Management	For	For
		WENDELL P. WEEKS	Management	For	For
		PETER C. WENDELL	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
09	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	107	5,300	5,300	04/21/2005
THE PNC FINANCIAL SERVICES GROUP, IN			PNC		Annual Meeting Date: 04/26/2005
Issuer: 693475		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MR. CHELLGREN	Management	For	For
		MR. CLAY	Management	For	For
		MR. COOPER	Management	For	For
		MR. DAVIDSON	Management	For	For
		MR. KELSON	Management	For	For
		MR. LINDSAY	Management	For	For
		MR. MASSARO	Management	For	For
		MR. O'BRIEN	Management	For	For
		MS. PEPPER	Management	For	For
		MR. ROHR	Management	For	For
		MS. STEFFES	Management	For	For
		MR. STRIGL	Management	For	For
		MR. THIEKE	Management	For	For
		MR. USHER	Management	For	For
		MR. WASHINGTON	Management	For	For
		MR. WEHMEIER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	105	6,100	6,100	04/21/2005
WELLS FARGO & COMPANY			WFC		Annual Meeting Date: 04/26/2005
Issuer: 949746		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.A. BLANCHARD III	Management	For	For
		SUSAN E. ENGEL	Management	For	For
		ENRIQUE HERNANDEZ, JR.	Management	For	For
		ROBERT L. JOSS	Management	For	For
		REATHA CLARK KING	Management	For	For
		RICHARD M. KOVACEVICH	Management	For	For
		RICHARD D. MCCORMICK	Management	For	For
		CYNTHIA H. MILLIGAN	Management	For	For
		PHILIP J. QUIGLEY	Management	For	For
		DONALD B. RICE	Management	For	For
		JUDITH M. RUNSTAD	Management	For	For
		STEPHEN W. SANGER	Management	For	For
		SUSAN G. SWENSON	Management	For	For
		MICHAEL W. WRIGHT	Management	For	For
02	AMEND LONG TERM INCENTIVE PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	7,800	7,800	04/21/2005
AMERICAN EXPRESS COMPANY			AXP		Annual Meeting Date: 04/27/2005
Issuer: 025816		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		D.F. AKERSON	Management	For	For
		C. BARSHEFSKY	Management	For	For
		W.G. BOWEN	Management	For	For
		U.M. BURNS	Management	For	For
		K.I. CHENAULT	Management	For	For
		P.R. DOLAN	Management	For	For
		V.E. JORDAN, JR.	Management	For	For
		J. LESCHLY	Management	For	For
		R.A. MCGINN	Management	For	For
		E.D. MILLER	Management	For	For
		F.P. POPOFF	Management	For	For
		R.D. WALTER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	3,600	3,600	04/22/2005
ANHEUSER-BUSCH COMPANIES, INC.			BUD		Annual Meeting Date: 04/27/2005
Issuer: 035229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. JACOB	Management	For	For
		CHARLES F. KNIGHT	Management	For	For
		JOYCE M. ROCHE	Management	For	For
		HENRY HUGH SHELTON	Management	For	For
		PATRICK T. STOKES	Management	For	For
02	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	3,100	3,100	04/22/2005
BANK OF AMERICA CORPORATION			BAC		Annual Meeting Date: 04/27/2005
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM BARNET, III	Management	For	For
		CHARLES W. COKER	Management	For	For
		JOHN T. COLLINS	Management	For	For
		GARY L. COUNTRYMAN	Management	For	For
		PAUL FULTON	Management	For	For
		CHARLES K. GIFFORD	Management	For	For
		W. STEVEN JONES	Management	For	For
		KENNETH D. LEWIS	Management	For	For
		WALTER E. MASSEY	Management	For	For
		THOMAS J. MAY	Management	For	For
		PATRICIA E. MITCHELL	Management	For	For
		EDWARD L. ROMERO	Management	For	For
		THOMAS M. RYAN	Management	For	For
		O. TEMPLE SLOAN, JR.	Management	For	For
		MEREDITH R. SPANGLER	Management	For	For
		ROBERT L. TILLMAN	Management	For	For
		JACKIE M. WARD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	18,800	18,800	04/22/2005
CHEVRONTEXACO CORPORATION			CVX		Annual Meeting Date: 04/27/2005
Issuer: 166764		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		S.H. ARMACOST	Management	For	For
		R.E. DENHAM	Management	For	For
		R.J. EATON	Management	For	For
		S. GINN	Management	For	For
		C.A. HILLS	Management	For	For
		F.G. JENIFER	Management	For	For
		S. NUNN	Management	For	For
		D.J. O'REILLY	Management	For	For
		P.J. ROBERTSON	Management	For	For
		C.R. SHOEMATE	Management	For	For
		R.D. SUGAR	Management	For	For
		C. WARE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
06	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	5,200	5,200	04/22/2005
E. I. DU PONT DE NEMOURS AND COMPANY			DD		Annual Meeting Date: 04/27/2005
Issuer: 263534		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		A.J.P. BELDA	Management	For	For
		R.H. BROWN	Management	For	For
		C.J. CRAWFORD	Management	For	For
		J.T. DILLON	Management	For	For
		L.C. DUEMLING	Management	For	For
		C.O. HOLLIDAY, JR.	Management	For	For
		L.D. JULIBER	Management	For	For
		M. NAITOH	Management	For	For
		W.K. REILLY	Management	For	For
		H.R. SHARP, III	Management	For	For
		C.M. VEST	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	1,900	1,900	04/22/2005
GENERAL ELECTRIC COMPANY			GE		Annual Meeting Date: 04/27/2005
Issuer: 369604		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
A	ELECTION OF DIRECTORS		Management	For		No
		JAMES I. CASH, JR.	Management	For	For
		WILLIAM M. CASTELL	Management	For	For
		DENNIS D. DAMMERMAN	Management	For	For
		ANN M. FUDGE	Management	For	For
		CLAUDIO X. GONZALEZ	Management	For	For
		JEFFREY R. IMMELT	Management	For	For
		ANDREA JUNG	Management	For	For
		ALAN G. LAFLEY	Management	For	For
		RALPH S. LARSEN	Management	For	For
		ROCHELLE B. LAZARUS	Management	For	For
		SAM NUNN	Management	For	For
		ROGER S. PENSKE	Management	For	For
		ROBERT J. SWIERINGA	Management	For	For
		DOUGLAS A. WARNER III	Management	For	For
		ROBERT C. WRIGHT	Management	For	For
B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
02	S/H - RESEARCH RENEWABLE ENERGY		Shareholder	Against	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	21,400	21,400	04/22/2005
PIPER JAFFRAY COMPANIES			PJC		Annual Meeting Date: 04/27/2005
Issuer: 724078		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL R. FRANCIS	Management	For	For
		ADDISON L. PIPER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	145	145	04/22/2005
THE STANLEY WORKS			SWK		Annual Meeting Date: 04/27/2005
Issuer: 854616		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		STILLMAN B. BROWN	Management	For	For
		EMMANUEL A. KAMPOURIS	Management	For	For
		KATHRYN D. WRISTON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder			No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	3,400	3,400	04/22/2005
CEMEX, S.A. DE C.V.			CX		Annual Meeting Date: 04/28/2005
Issuer: 151290		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
A1	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	For	No
A2	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Management	For	For	No
A3	APPROVE ALLOTMENT OF EQUITY SECURITIES		Management	For	For	No
A4	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
A5	APPOINT AUDITORS		Management	For	For	No
A6	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
S1	APPROVE REVERSE STOCK SPLIT		Management	For	For	No
S2	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	889	2,000	2,000	04/20/2005
JOHNSON & JOHNSON			JNJ		Annual Meeting Date: 04/28/2005
Issuer: 478160		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MARY S. COLEMAN	Management	For	For
		JAMES G. CULLEN	Management	For	For
		ROBERT J. DARRETTA	Management	For	For
		MICHAEL M. E. JOHNS	Management	For	For
		ANN D. JORDAN	Management	For	For
		ARNOLD G. LANGBO	Management	For	For
		SUSAN L. LINDQUIST	Management	For	For
		LEO F. MULLIN	Management	For	For
		CHRISTINE A. POON	Management	For	For
		STEVEN S REINEMUND	Management	For	For
		DAVID SATCHER	Management	For	For
		WILLIAM C. WELDON	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	9,200	9,200	04/25/2005
KIMBERLY-CLARK CORPORATION			KMB		Annual Meeting Date: 04/28/2005
Issuer: 494368		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN F. BERGSTROM	Management	For	For
		ROBERT W. DECHERD	Management	For	For
		G. CRAIG SULLIVAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	2,200	2,200	04/25/2005
PFIZER INC.			PFE		Annual Meeting Date: 04/28/2005
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL S. BROWN	Management	For	For
		M. ANTHONY BURNS	Management	For	For
		ROBERT N. BURT	Management	For	For
		W. DON CORNWELL	Management	For	For
		WILLIAM H. GRAY III	Management	For	For
		CONSTANCE J. HORNER	Management	For	For
		WILLIAM R. HOWELL	Management	For	For
		STANLEY O. IKENBERRY	Management	For	For
		GEORGE A. LORCH	Management	For	For
		HENRY A. MCKINNELL	Management	For	For
		DANA G. MEAD	Management	For	For
		RUTH J. SIMMONS	Management	For	For
		WILLIAM C. STEERE, JR.	Management	For	For
		JEAN-PAUL VALLES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	21,555	21,555	04/25/2005
MOTOROLA, INC.			MOT		Annual Meeting Date: 05/02/2005
Issuer: 620076		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		E. ZANDER	Management	For	For
		H.L. FULLER	Management	For	For
		J. LEWENT	Management	For	For
		W. MASSEY	Management	For	For
		T. MEREDITH	Management	For	For
		N. NEGROPONTE	Management	For	For
		I. NOOYI	Management	For	For
		S. SCOTT III	Management	For	For
		R. SOMMER	Management	For	For
		J. STENGEL	Management	For	For
		D. WARNER III	Management	For	For
		J. WHITE	Management	For	For
02	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	3,100	3,100	04/27/2005
ZIMMER HOLDINGS, INC.			ZMH		Annual Meeting Date: 05/02/2005
Issuer: 98956P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J. RAYMOND ELLIOTT	Management	For	For
02	AMEND STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	260	260	04/27/2005
AMERICAN STANDARD COMPANIES INC.			ASD		Annual Meeting Date: 05/03/2005
Issuer: 029712		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JARED L. COHON	Management	For	For
		PAUL J. CURLANDER	Management	For	For
		FREDERIC M. POSES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	4,500	4,500	04/28/2005
BRISTOL-MYERS SQUIBB COMPANY			BMY		Annual Meeting Date: 05/03/2005
Issuer: 110122		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		V.D. COFFMAN	Management	For	For
		J.M. CORNELIUS	Management	For	For
		P.R. DOLAN	Management	For	For
		E.V. FUTTER	Management	For	For
		L.V. GERSTNER, JR.	Management	For	For
		L. JOHANSSON	Management	For	For
		L.W. SULLIVAN, M.D.	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
06	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	108	5,800	5,800	04/28/2005
THE ST. PAUL TRAVELERS COMPANIES, IN			STA		Annual Meeting Date: 05/03/2005
Issuer: 792860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN H. DASBURG	Management	For	For
		LESLIE B. DISHAROON	Management	For	For
		JANET M. DOLAN	Management	For	For
		KENNETH M. DUBERSTEIN	Management	For	For
		JAY S. FISHMAN	Management	For	For
		LAWRENCE G. GRAEV	Management	For	For
		THOMAS R. HODGSON	Management	For	For
		ROBERT I. LIPP	Management	For	For
		BLYTHE J. MCGARVIE	Management	For	For
		GLEN D. NELSON, MD	Management	For	For
		CLARENCE OTIS, JR.	Management	For	For
		CHARLES W. SCHARF	Management	For	For
		LAURIE J. THOMSEN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	108	854	854	04/28/2005
BRUNSWICK CORPORATION			BC		Annual Meeting Date: 05/04/2005
Issuer: 117043		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		GEORGE W. BUCKLEY	Management	For	For
		PETER HARF	Management	For	For
		RALPH C. STAYER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	4,700	4,700	04/28/2005
DANAHER CORPORATION			DHR		Annual Meeting Date: 05/04/2005
Issuer: 235851		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		H. LAWRENCE CULP, JR.	Management	For	For
		MITCHELL P. RALES	Management	For	For
		A. EMMET STEPHENSON JR	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	4,000	4,000	04/28/2005
PEPSICO, INC.			PEP		Annual Meeting Date: 05/04/2005
Issuer: 713448		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.F. AKERS	Management	For	For
		R.E. ALLEN	Management	For	For
		R.L. HUNT	Management	For	For
		A.C. MARTINEZ	Management	For	For
		I.K. NOOYI	Management	For	For
		S.S REINEMUND	Management	For	For
		S.P. ROCKEFELLER	Management	For	For
		J.J. SCHIRO	Management	For	For
		F.A. THOMAS	Management	For	For
		C.M. TRUDELL	Management	For	For
		S.D. TRUJILLO	Management	For	For
		D. VASELLA	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	108	3,000	3,000	04/28/2005
EMC CORPORATION			EMC		Annual Meeting Date: 05/05/2005
Issuer: 268648		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL J. CRONIN	Management	For	For
		W. PAUL FITZGERALD	Management	For	For
		JOSEPH M. TUCCI	Management	For	For
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	20,100	20,100	05/02/2005
STARWOOD HOTELS & RESORTS WORLDWIDE,			HOT		Annual Meeting Date: 05/05/2005
Issuer: 85590A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BARSHEFSKY	Management	For	For
		CHAPUS	Management	For	For
		DUNCAN	Management	For	For
		HEYER	Management	For	For
		HIPPEAU	Management	For	For
		QUAZZO	Management	For	For
		RYDER	Management	For	For
		STERNLICHT	Management	For	For
		YIH	Management	For	For
		YOUNGBLOOD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	203	3,700	3,700	05/02/2005
UNITED PARCEL SERVICE, INC.			UPS		Annual Meeting Date: 05/05/2005
Issuer: 911312		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN J. BEYSTEHNER	Management	For	For
		MICHAEL L. ESKEW	Management	For	For
		JAMES P. KELLY	Management	For	For
		ANN M. LIVERMORE	Management	For	For
		GARY E. MACDOUGAL	Management	For	For
		VICTOR A. PELSON	Management	For	For
		LEA N. SOUPATA	Management	For	For
		JOHN W. THOMPSON	Management	For	For
		CAROL B. TOME	Management	For	For
		BEN VERWAAYEN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	1,600	1,600	05/02/2005
VERIZON COMMUNICATIONS INC.			VZ		Annual Meeting Date: 05/05/2005
Issuer: 92343V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.R. BARKER	Management	For	For
		R.L. CARRION	Management	For	For
		R.W. LANE	Management	For	For
		S.O. MOOSE	Management	For	For
		J. NEUBAUER	Management	For	For
		T.H. O'BRIEN	Management	For	For
		H.B. PRICE	Management	For	For
		I.G. SEIDENBERG	Management	For	For
		W.V. SHIPLEY	Management	For	For
		J.R. STAFFORD	Management	For	For
		R.D. STOREY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	104	2,580	2,580	05/02/2005
WISCONSIN ENERGY CORPORATION			WEC		Annual Meeting Date: 05/05/2005
Issuer: 976657		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN F. AHEARNE	Management	For	For
		JOHN F. BERGSTROM	Management	For	For
		BARBARA L. BOWLES	Management	For	For
		ROBERT A. CORNOG	Management	For	For
		CURT S. CULVER	Management	For	For
		GALE E. KLAPPA	Management	For	For
		ULICE PAYNE, JR.	Management	For	For
		F.P. STRATTON, JR.	Management	For	For
		GEORGE E. WARDEBERG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	1,600	1,600	05/02/2005
ILLINOIS TOOL WORKS INC.			ITW		Annual Meeting Date: 05/06/2005
Issuer: 452308		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM F. ALDINGER	Management	For	For
		MICHAEL J. BIRCK	Management	For	For
		MARVIN D. BRAILSFORD	Management	For	For
		SUSAN CROWN	Management	For	For
		DON H. DAVIS, JR.	Management	For	For
		W. JAMES FARRELL	Management	For	For
		ROBERT C. MCCORMACK	Management	For	For
		ROBERT S. MORRISON	Management	For	For
		HAROLD B. SMITH	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	1,400	1,400	05/03/2005
HOSPIRA, INC.			HSP		Annual Meeting Date: 05/09/2005
Issuer: 441060		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		IRVING W. BAILEY, II	Management	For	For
		JUDITH C. PELHAM	Management	For	For
		JACQUE J. SOKOLOV	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	420	420	05/04/2005
3M COMPANY			MMM		Annual Meeting Date: 05/10/2005
Issuer: 88579Y		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		VANCE D. COFFMAN	Management	For	For
		ROZANNE L. RIDGWAY	Management	For	For
		LOUIS W. SULLIVAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT NON-QUALIFIED STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	1,900	1,900	05/05/2005
INTERNATIONAL PAPER COMPANY			IP		Annual Meeting Date: 05/10/2005
Issuer: 460146		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROBERT M. AMEN*	Management	For	For
		SAMIR G. GIBARA*	Management	For	For
		CHARLES R. SHOEMATE*	Management	For	For
		WILLIAM G. WALTER**	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	1,200	1,200	05/05/2005
AMGEN INC.			AMGN		Annual Meeting Date: 05/11/2005
Issuer: 031162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DR. DAVID BALTIMORE	Management	For	For
		MS. JUDITH C. PELHAM	Management	For	For
		MR. KEVIN W. SHARER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03A	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
03B	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
03C	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	2,500	2,500	05/06/2005
NEWELL RUBBERMAID INC.			NWL		Annual Meeting Date: 05/11/2005
Issuer: 651229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL T. COWHIG	Management	For	For
		MARK D. KETCHUM	Management	For	For
		WILLIAM D. MAROHN	Management	For	For
		RAYMOND G. VIAULT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	Against	For	No
	$100,000
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	3,800	3,800	05/06/2005
ANADARKO PETROLEUM CORPORATION			APC		Annual Meeting Date: 05/12/2005
Issuer: 032511		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN R. BUTLER, JR.	Management	For	For
		PRESTON M. GEREN III	Management	For	For
		JOHN R. GORDON	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	107	1,800	1,800	05/09/2005
THE DOW CHEMICAL COMPANY			DOW		Annual Meeting Date: 05/12/2005
Issuer: 260543		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JACQUELINE K. BARTON	Management	For	For
		ANTHONY J. CARBONE	Management	For	For
		BARBARA H. FRANKLIN	Management	For	For
		ANDREW N. LIVERIS	Management	For	For
		HAROLD T. SHAPIRO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	3,100	3,100	05/09/2005
THE GILLETTE COMPANY			G		Annual Meeting Date: 05/12/2005
Issuer: 375766		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL B. GIFFORD	Management	For	For
		RAY J. GROVES	Management	For	For
		FRED H. LANGHAMMER	Management	For	For
		MARJORIE M. YANG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	2,400	2,400	05/09/2005
WASTE MANAGEMENT, INC.			WMI		Annual Meeting Date: 05/13/2005
Issuer: 94106L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		PASTORA S.J. CAFFERTY	Management	For	For
		FRANK M. CLARK, JR.	Management	For	For
		ROBERT S. MILLER	Management	For	For
		JOHN C. POPE	Management	For	For
		W. ROBERT REUM	Management	For	For
		STEVEN G. ROTHMEIER	Management	For	For
		DAVID P. STEINER	Management	For	For
		THOMAS H. WEIDEMEYER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	3,500	3,500	05/10/2005
WATSON PHARMACEUTICALS, INC.			WPI		Annual Meeting Date: 05/13/2005
Issuer: 942683		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL J. FEDIDA	Management	For	For
		ALBERT F. HUMMEL	Management	For	For
		CATHERINE M. KLEMA	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	4,400	4,400	05/10/2005
WEATHERFORD INTERNATIONAL LTD.			WFT		Annual Meeting Date: 05/13/2005
Issuer: G95089		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		NICHOLAS F. BRADY	Management	For	For
		DAVID J. BUTTERS	Management	For	For
		BERNARD J. DUROC-DANNER	Management	For	For
		SHELDON B. LUBAR	Management	For	For
		WILLIAM E. MACAULAY	Management	For	For
		ROBERT B. MILLARD	Management	For	For
		ROBERT K. MOSES, JR.	Management	For	For
		ROBERT A. RAYNE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	1,800	1,800	05/10/2005
LIMITED BRANDS, INC.			LTD		Annual Meeting Date: 05/16/2005
Issuer: 532716		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DONNA A. JAMES	Management	For	For
		LEONARD A. SCHLESINGER	Management	For	For
		JEFFREY B. SWARTZ	Management	For	For
		RAYMOND ZIMMERMAN	Management	For	For
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	107	7,600	7,600	05/11/2005
JPMORGAN CHASE & CO.			JPM		Annual Meeting Date: 05/17/2005
Issuer: 46625H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANS W. BECHERER	Management	For	For
		JOHN H. BIGGS	Management	For	For
		LAWRENCE A. BOSSIDY	Management	For	For
		STEPHEN B. BURKE	Management	For	For
		JAMES S. CROWN	Management	For	For
		JAMES DIMON	Management	For	For
		ELLEN V. FUTTER	Management	For	For
		WILLIAM H. GRAY III	Management	For	For
		WILLIAM B. HARRISON JR.	Management	For	For
		LABAN P. JACKSON JR.	Management	For	For
		JOHN W. KESSLER	Management	For	For
		ROBERT I. LIPP	Management	For	For
		RICHARD A. MANOOGIAN	Management	For	For
		DAVID C. NOVAK	Management	For	For
		LEE R. RAYMOND	Management	For	For
		WILLIAM C. WELDON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	4,092	4,092	05/12/2005
THE ALLSTATE CORPORATION			ALL		Annual Meeting Date: 05/17/2005
Issuer: 020002		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		F. DUANE ACKERMAN	Management	For	For
		JAMES G. ANDRESS	Management	For	For
		EDWARD A. BRENNAN	Management	For	For
		W. JAMES FARRELL	Management	For	For
		JACK M. GREENBERG	Management	For	For
		RONALD T. LEMAY	Management	For	For
		EDWARD M. LIDDY	Management	For	For
		J. CHRISTOPHER REYES	Management	For	For
		H. JOHN RILEY, JR.	Management	For	For
		JOSHUA I. SMITH	Management	For	For
		JUDITH A. SPRIESER	Management	For	For
		MARY ALICE TAYLOR	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	2,300	2,300	05/12/2005
INTEL CORPORATION			INTC		Annual Meeting Date: 05/18/2005
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CRAIG R. BARRETT	Management	For	For
		CHARLENE BARSHEFSKY	Management	For	For
		E. JOHN P. BROWNE	Management	For	For
		D. JAMES GUZY	Management	For	For
		REED E. HUNDT	Management	For	For
		PAUL S. OTELLINI	Management	For	For
		DAVID S. POTTRUCK	Management	For	For
		JANE E. SHAW	Management	For	For
		JOHN L. THORNTON	Management	For	For
		DAVID B. YOFFIE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	13,000	13,000	05/13/2005
TARGET CORPORATION			TGT		Annual Meeting Date: 05/18/2005
Issuer: 87612E		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROXANNE S. AUSTIN	Management	For	For
		JAMES A. JOHNSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	2,000	2,000	05/13/2005
MARSH & MCLENNAN COMPANIES, INC.			MMC		Annual Meeting Date: 05/19/2005
Issuer: 571748		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL G. CHERKASKY	Management	For	For
		STEPHEN R. HARDIS	Management	For	For
		THE RT. HON. LORD LANG	Management	For	For
		MORTON O. SCHAPIRO	Management	For	For
		ADELE SIMMONS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	3,400	3,400	05/16/2005
CONSTELLATION ENERGY GROUP, INC.			CEG		Annual Meeting Date: 05/20/2005
Issuer: 210371		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		YVES C. DE BALMANN	Management	For	For
		F.A. HRABOWSKI, III	Management	For	For
		NANCY LAMPTON	Management	For	For
		LYNN M. MARTIN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	5,000	5,000	05/17/2005
J. C. PENNEY COMPANY, INC.			JCP		Annual Meeting Date: 05/20/2005
Issuer: 708160		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		T.J. ENGIBOUS	Management	For	For
		K.B. FOSTER	Management	For	For
		L.H. ROBERTS	Management	For	For
		M.E. ULLMAN III	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	106	2,200	2,200	05/17/2005
SEALED AIR CORPORATION			SEE		Annual Meeting Date: 05/20/2005
Issuer: 81211K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANK BROWN	Management	For	For
		MICHAEL CHU	Management	For	For
		LAWRENCE R. CODEY	Management	For	For
		T.J. DERMOT DUNPHY	Management	For	For
		CHARLES F. FARRELL, JR.	Management	For	For
		WILLIAM V. HICKEY	Management	For	For
		JACQUELINE B. KOSECOFF	Management	For	For
		KENNETH P. MANNING	Management	For	For
		WILLIAM J. MARINO	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	100	2,400	2,400	05/17/2005
TIME WARNER INC.			TWX		Annual Meeting Date: 05/20/2005
Issuer: 887317		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES L. BARKSDALE	Management	For	For
		STEPHEN F. BOLLENBACH	Management	For	For
		STEPHEN M. CASE	Management	For	For
		FRANK J. CAUFIELD	Management	For	For
		ROBERT C. CLARK	Management	For	For
		JESSICA P. EINHORN	Management	For	For
		MILES R. GILBURNE	Management	For	For
		CARLA A. HILLS	Management	For	For
		REUBEN MARK	Management	For	For
		MICHAEL A. MILES	Management	For	For
		KENNETH J. NOVACK	Management	For	For
		RICHARD D. PARSONS	Management	For	For
		R.E. TURNER	Management	For	For
		FRANCIS T. VINCENT, JR.	Management	For	For
		DEBORAH C. WRIGHT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	105	9,000	9,000	05/17/2005
UNOCAL CORPORATION			UCL		Annual Meeting Date: 05/23/2005
Issuer: 915289		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CRAIG ARNOLD	Management	For	For
		JAMES W. CROWNOVER	Management	For	For
		DONALD B. RICE	Management	For	For
		MARK A. SUWYN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	4,100	4,100	05/18/2005
EXXON MOBIL CORPORATION			XOM		Annual Meeting Date: 05/25/2005
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		M.J. BOSKIN	Management	For	For
		W.W. GEORGE	Management	For	For
		J.R. HOUGHTON	Management	For	For
		W.R. HOWELL	Management	For	For
		R.C. KING	Management	For	For
		P.E. LIPPINCOTT	Management	For	For
		H.A. MCKINNELL, JR.	Management	For	For
		M.C. NELSON	Management	For	For
		L.R. RAYMOND	Management	For	For
		W.V. SHIPLEY	Management	For	For
		R.W. TILLERSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	For	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	13,000	13,000	05/20/2005
THE SOUTHERN COMPANY			SO		Annual Meeting Date: 05/25/2005
Issuer: 842587		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		D.P. AMOS	Management	For	For
		D.J. BERN	Management	For	For
		F.S. BLAKE	Management	For	For
		T.F. CHAPMAN	Management	For	For
		B.S. GORDON	Management	For	For
		D.M. JAMES	Management	For	For
		Z.T. PATE	Management	For	For
		J.N. PURCELL	Management	For	For
		D.M. RATCLIFFE	Management	For	For
		G.J. ST. PE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	107	1,600	1,600	05/20/2005
LOWE'S COMPANIES, INC.			LOW		Annual Meeting Date: 05/27/2005
Issuer: 548661		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROBERT A. INGRAM	Management	For	For
		RICHARD K. LOCHRIDGE	Management	For	For
		ROBERT L. JOHNSON	Management	For	For
02	AMEND DIRECTOR STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	107	2,900	2,900	05/24/2005
COMCAST CORPORATION			CMCSA		Annual Meeting Date: 06/01/2005
Issuer: 20030N		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		S. DECKER ANSTROM	Management	For	For
		KENNETH J. BACON	Management	For	For
		SHELDON M. BONOVITZ	Management	For	For
		EDWARD D. BREEN	Management	For	For
		JULIAN A. BRODSKY	Management	For	For
		JOSEPH L. CASTLE, II	Management	For	For
		JOSEPH J. COLLINS	Management	For	For
		J. MICHAEL COOK	Management	For	For
		BRIAN L. ROBERTS	Management	For	For
		RALPH J. ROBERTS	Management	For	For
		DR. JUDITH RODIN	Management	For	For
		MICHAEL I. SOVERN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT RESTRICTED STOCK AWARD PLAN		Management	For	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	3,500	3,500	05/26/2005
INGERSOLL-RAND COMPANY LIMITED			IR		Annual Meeting Date: 06/01/2005
Issuer: G4776G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		A.C. BERZIN	Management	For	For
		H.L. HENKEL	Management	For	For
		H.W. LICHTENBERGER	Management	For	For
		T.L. WHITE	Management	For	For
02	RATIFY SHAREHOLDER RIGHTS PLAN		Management	For	For	No
03	ELIMINATE CUMULATIVE VOTING		Management	For	For	No
04	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	1,300	1,300	05/26/2005
CENTERPOINT ENERGY, INC.			CNP		Annual Meeting Date: 06/02/2005
Issuer: 15189T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
1 2	ELECTION OF DIRECTORS		Management	For		No
		D.R. CAMPBELL*	Management	For	For
		O.H. CROSSWELL**	Management	For	For
		T.F. MADISON**	Management	For	For
		J.M. LONGORIA**	Management	For	For
		P.S. WAREING**	Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	TRANSACT OTHER BUSINESS		Management	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	107	5,500	5,500	05/27/2005
WAL-MART STORES, INC.			WMT		Annual Meeting Date: 06/03/2005
Issuer: 931142		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES W. BREYER	Management	For	For
		M. MICHELE BURNS	Management	For	For
		DOUGLAS N. DAFT	Management	For	For
		DAVID D. GLASS	Management	For	For
		ROLAND A. HERNANDEZ	Management	For	For
		JOHN D. OPIE	Management	For	For
		J. PAUL REASON	Management	For	For
		H. LEE SCOTT, JR.	Management	For	For
		JACK C. SHEWMAKER	Management	For	For
		JOSE H. VILLARREAL	Management	For	For
		JOHN T. WALTON	Management	For	For
		S. ROBSON WALTON	Management	For	For
		CHRISTOPHER J. WILLIAMS	Management	For	For
		LINDA S. WOLF	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
11	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	103	9,300	9,300	05/31/2005
PRUDENTIAL FINANCIAL, INC.			PRU		Annual Meeting Date: 06/07/2005
Issuer: 744320		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES G. CULLEN	Management	For	For
		JAMES A. UNRUH	Management	For	For
		GORDON M. BETHUNE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	DECLASSIFY BOARD		Management	For	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	102	3,900	3,900	06/02/2005
NEENAH PAPER, INC.			NP		Annual Meeting Date: 06/20/2005
Issuer: 640079		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		TIMOTHY S. LUCAS	Management	For	For
		PHILIP C. MOORE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	109	66	66	06/15/2005
BEST BUY CO., INC.			BBY		Annual Meeting Date: 06/23/2005
Issuer: 086516		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		RONALD JAMES	Management	For	For
		ELLIOT S. KAPLAN	Management	For	For
		MATTHEW H. PAULL	Management	For	For
		RICHARD M. SCHULZE	Management	For	For
		MARY A. TOLAN	Management	For	For
		HATIM A. TYABJI	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R BALANCED FUND INC	1856061103	101	2,000	2,000	06/20/2005
SM&R EQUITY INCOME FUND PORTFOLIO
KROLL, INC.			KROL		Special Meeting Date: 07/08/2004
Issuer: 501049		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	APPROVE MERGER AGREEMENT		Management	For	For	No
02	APPROVE MOTION TO ADJOURN MEETING		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	7,400	7,400	06/28/2004
VODAFONE GROUP PLC			VOD		Annual Meeting Date: 07/27/2004
Issuer: 92857W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
02	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
03	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
04	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
05	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
06	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
07	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
08	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
09	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
10	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
11	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
12	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
13	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
14	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	26,700	26,700	07/12/2004
R.J. REYNOLDS TOBACCO HOLDINGS, INC.			RJR		Special Meeting Date: 07/28/2004
Issuer: 76182K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	MISCELLANEOUS CORPORATE ACTIONS		Management	For	For	No
02	APPROVE MOTION TO ADJOURN MEETING		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	105	12,949	12,949	07/22/2004
THE ST. PAUL TRAVELERS COMPANIES, IN			STA		Annual Meeting Date: 07/28/2004
Issuer: 792860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		H.P. BERKOWITZ	Management	For	For
		K.J. BIALKIN	Management	For	For
		C.H. BYRD	Management	For	For
		J.H. DASBURG	Management	For	For
		L.B. DISHAROON	Management	For	For
		J.M. DOLAN	Management	For	For
		K.M. DUBERSTEIN	Management	For	For
		J.S. FISHMAN	Management	For	For
		L.G. GRAEV	Management	For	For
		M.D. HARTZBAND	Management	For	For
		T.R. HODGSON	Management	For	For
		W.H. KLING	Management	For	For
		J.A. LAWRENCE	Management	For	For
		R.I. LIPP	Management	For	For
		B.J. MCGARVIE	Management	For	For
		G.D. NELSON, MD	Management	For	For
		C. OTIS, JR.	Management	For	For
		J.M. PEEK	Management	For	For
		N.A. ROSEMAN	Management	For	For
		C.W. SCHARF	Management	For	For
		G.M. SPRENGER	Management	For	For
		F.J. TASCO	Management	For	For
		L.J. THOMSEN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	108	5,856	5,856	07/22/2004
H.J. HEINZ COMPANY			HNZ		Annual Meeting Date: 09/08/2004
Issuer: 423074		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		W.R. JOHNSON	Management	For	For
		C.E. BUNCH	Management	For	For
		M.C. CHOKSI	Management	For	For
		L.S. COLEMAN, JR.	Management	For	For
		P.H. COORS	Management	For	For
		E.E. HOLIDAY	Management	For	For
		C. KENDLE	Management	For	For
		D.R. O'HARE	Management	For	For
		L.C. SWANN	Management	For	For
		T.J. USHER	Management	For	For
		J.M. ZIMMERMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	19,000	19,000	08/31/2004
CONAGRA FOODS, INC.			CAG		Annual Meeting Date: 09/23/2004
Issuer: 205887		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management			No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management			No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management			No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder			No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	40,000	0
THE PROCTER & GAMBLE COMPANY			PG		Annual Meeting Date: 10/12/2004
Issuer: 742718		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		R. KERRY CLARK	Management	For	For
		JOSEPH T. GORMAN	Management	For	For
		LYNN M. MARTIN	Management	For	For
		RALPH SNYDERMAN	Management	For	For
		ROBERT D. STOREY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
04	MISCELLANEOUS CORPORATE GOVERNANCE		Management			No
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	39,000	39,000	09/27/2004
SARA LEE CORPORATION			SLE		Annual Meeting Date: 10/28/2004
Issuer: 803111		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		B. BARNES	Management	For	For
		J.T. BATTENBERG III	Management	For	For
		C. COKER	Management	For	For
		J. CROWN	Management	For	For
		W. DAVIS	Management	For	For
		V. JORDAN, JR.	Management	For	For
		L. KOELLNER	Management	For	For
		C. VAN LEDE	Management	For	For
		J. MANLEY	Management	For	For
		C. STEVEN MCMILLAN	Management	For	For
		I. PROSSER	Management	For	For
		R. RIDGWAY	Management	For	For
		R. THOMAS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	47,300	47,300	10/14/2004
FEDERAL HOME LOAN MORTGAGE CORPORATI			FRE		Annual Meeting Date: 11/04/2004
Issuer: 313400		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BARBARA T. ALEXANDER	Management	For	For
		GEOFFREY T. BOISI	Management	For	For
		MICHELLE ENGLER	Management	For	For
		RICHARD KARL GOELTZ	Management	For	For
		THOMAS S. JOHNSON	Management	For	For
		WILLIAM M. LEWIS, JR.	Management	For	For
		JOHN B. MCCOY	Management	For	For
		EUGENE M. MCQUADE	Management	For	For
		SHAUN F. O'MALLEY	Management	For	For
		RONALD F. POE	Management	For	For
		STEPHEN A. ROSS	Management	For	For
		RICHARD F. SYRON	Management	For	For
		WILLIAM J. TURNER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	For	No
04	AMEND STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	301	20,000	20,000	10/25/2004
MICROSOFT CORPORATION			MSFT		Annual Meeting Date: 11/09/2004
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM H. GATES III	Management	For	For
		STEVEN A. BALLMER	Management	For	For
		JAMES I. CASH JR.	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		A. MCLAUGHLIN KOROLOGOS	Management	For	For
		DAVID F. MARQUARDT	Management	For	For
		CHARLES H. NOSKI	Management	For	For
		HELMUT PANKE	Management	For	For
		JON A. SHIRLEY	Management	For	For
02	AMEND STOCK OPTION PLAN		Management	For	For	No
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
04	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	104	133,000	133,000	11/01/2004
CISCO SYSTEMS, INC.			CSCO		Annual Meeting Date: 11/18/2004
Issuer: 17275R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CAROL A. BARTZ	Management	For	For
		M. MICHELE BURNS	Management	For	For
		LARRY R. CARTER	Management	For	For
		JOHN T. CHAMBERS	Management	For	For
		DR. JAMES F. GIBBONS	Management	For	For
		DR. JOHN L. HENNESSY	Management	For	For
		RODERICK C. MCGEARY	Management	For	For
		JAMES C. MORGAN	Management	For	For
		JOHN P. MORGRIDGE	Management	For	For
		DONALD T. VALENTINE	Management	For	For
		STEVEN M. WEST	Management	For	For
		JERRY YANG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	67,100	67,100	11/08/2004
THE WALT DISNEY COMPANY			DIS		Annual Meeting Date: 02/11/2005
Issuer: 254687		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. BRYSON	Management	For	For
		JOHN S. CHEN	Management	For	For
		MICHAEL D. EISNER	Management	For	For
		JUDITH L. ESTRIN	Management	For	For
		ROBERT A. IGER	Management	For	For
		FRED H. LANGHAMMER	Management	For	For
		AYLWIN B. LEWIS	Management	For	For
		MONICA C. LOZANO	Management	For	For
		ROBERT W. MATSCHULLAT	Management	For	For
		GEORGE J. MITCHELL	Management	For	For
		LEO J. O'DONOVAN, S.J.	Management	For	For
		GARY L. WILSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - THIRD WORLD ISSUES		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	106	66,900	66,900	02/07/2005
HEALTH MANAGEMENT ASSOCIATES, INC.			HMA		Contested Annual Meeting Date: 02/15/2005
Issuer: 421933		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM J. SCHOEN	Management	For	For
		JOSEPH V. VUMBACCO	Management	For	For
		KENT P. DAUTEN	Management	For	For
		DONALD E. KIERNAN	Management	For	For
		ROBERT A. KNOX	Management	For	For
		WILLIAM E. MAYBERRY, MD	Management	For	For
		WILLIAM C. STEERE, JR.	Management	For	For
		R.W. WESTERFIELD, PH.D.	Management	For	For
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	22,700	22,700	02/07/2005
MORGAN STANLEY			MWD		Annual Meeting Date: 03/15/2005
Issuer: 617446		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. JACOB	Management	For	For
		CHARLES F. KNIGHT	Management	For	For
		MILES L. MARSH	Management	For	For
		LAURA D'ANDREA TYSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	CLASSIFY/STAGGER BOARD OF DIRECTORS		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	448	11,500	11,500	03/09/2005
BECKMAN COULTER, INC.			BEC		Annual Meeting Date: 04/07/2005
Issuer: 075811		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HUGH K. COBLE	Management	For	For
		KEVIN M. FARR	Management	For	For
		VAN B. HONEYCUTT	Management	For	For
		BETTY WOODS	Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	22,800	22,800	04/04/2005
SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB		Annual Meeting Date: 04/13/2005
Issuer: 806857		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J. DEUTCH	Management	For	For
		J.S. GORELICK	Management	For	For
		A. GOULD	Management	For	For
		T. ISAAC	Management	For	For
		A. LAJOUS	Management	For	For
		A. LEVY-LANG	Management	For	For
		M.E. MARKS	Management	For	For
		D. PRIMAT	Management	For	For
		T.I. SANDVOLD	Management	For	For
		N. SEYDOUX	Management	For	For
		L.G. STUNTZ	Management	For	For
		R. TALWAR	Management	For	For
02	DIVIDEND		Management	For	For	No
3A	APPROVE ARTICLE AMENDMENTS		Management	For	For	No
3B	APPROVE ARTICLE AMENDMENTS		Management	For	For	No
4	ADOPT STOCK OPTION PLAN		Management	For	For	No
5	AMEND STOCK PURCHASE PLAN		Management	For	For	No
6	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	108	18,900	18,900	04/08/2005
BP P.L.C.			BP		Annual Meeting Date: 04/14/2005
Issuer: 055622		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DR D C ALLEN**	Management	For	For
		LORD BROWNE**	Management	For	For
		MR J H  BRYAN**	Management	For	For
		MR A  BURGMANS**	Management	For	For
		MR I C  CONN*	Management	For	For
		MR E B  DAVIS, JR**	Management	For	For
		MR D J  FLINT*	Management	For	For
		DR B E  GROTE**	Management	For	For
		DR A B  HAYWARD**	Management	For	For
		DR D S  JULIUS**	Management	For	For
		SIR TOM MCKILLOP*	Management	For	For
		MR J A  MANZONI**	Management	For	For
		DR W E  MASSEY**	Management	For	For
		MR H M P  MILES**	Management	For	For
		SIR IAN PROSSER**	Management	For	For
		MR M H WILSON**	Management	For	For
		MR P D SUTHERLAND**	Management	For	For
02	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	For	No
03	ALLOT SECURITIES		Management	For	For	No
04	ALLOT SECURITIES		Management	For	For	No
05	AUTHORIZE DIRECTORS TO REPURCHASE SHARES		Management	For	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
07	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
08	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	104	23,610	23,610	04/04/2005
CITIGROUP INC.			C		Annual Meeting Date: 04/19/2005
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		C. MICHAEL ARMSTRONG	Management	For	For
		ALAIN J.P. BELDA	Management	For	For
		GEORGE DAVID	Management	For	For
		KENNETH T. DERR	Management	For	For
		JOHN M. DEUTCH	Management	For	For
		R. HERNANDEZ RAMIREZ	Management	For	For
		ANN DIBBLE JORDAN	Management	For	For
		KLAUS KLEINFELD	Management	For	For
		DUDLEY C. MECUM	Management	For	For
		ANNE MULCAHY	Management	For	For
		RICHARD D. PARSONS	Management	For	For
		CHARLES PRINCE	Management	For	For
		JUDITH RODIN	Management	For	For
		ROBERT E. RUBIN	Management	For	For
		FRANKLIN A. THOMAS	Management	For	For
		SANFORD I. WEILL	Management	For	For
		ROBERT B. WILLUMSTAD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	For	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	68,400	68,400	04/14/2005
THE COCA-COLA COMPANY			KO		Annual Meeting Date: 04/19/2005
Issuer: 191216		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HERBERT A. ALLEN	Management	For	For
		RONALD W. ALLEN	Management	For	For
		CATHLEEN P. BLACK	Management	For	For
		WARREN E. BUFFETT	Management	For	For
		BARRY DILLER	Management	For	For
		E. NEVILLE ISDELL	Management	For	For
		DONALD R. KEOUGH	Management	For	For
		MARIA ELENA LAGOMASINO	Management	For	For
		DONALD F. MCHENRY	Management	For	For
		SAM NUNN	Management	For	For
		J. PEDRO REINHARD	Management	For	For
		JAMES D. ROBINSON III	Management	For	For
		PETER V. UEBERROTH	Management	For	For
		JAMES B. WILLIAMS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	25,700	25,700	04/14/2005
U.S. BANCORP			USB		Annual Meeting Date: 04/19/2005
Issuer: 902973		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOEL W. JOHNSON	Management	For	For
		DAVID B. O'MALEY	Management	For	For
		O'DELL M. OWENS MD, MPH	Management	For	For
		CRAIG D. SCHNUCK	Management	For	For
		WARREN R. STALEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	SUPERMAJORITY		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	304	67,500	67,500	04/14/2005
WHIRLPOOL CORPORATION			WHR		Annual Meeting Date: 04/19/2005
Issuer: 963320		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HERMAN CAIN	Management	For	For
		JEFF M. FETTIG	Management	For	For
		MILES L. MARSH	Management	For	For
		PAUL G. STERN	Management	For	For
		MICHAEL D. WHITE	Management	For	For
02	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	106	10,000	10,000	04/14/2005
ALLTEL CORPORATION			AT		Annual Meeting Date: 04/21/2005
Issuer: 020039		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN R. BELK	Management	For	For
		GREGORY W. PENSKE	Management	For	For
		WARREN A. STEPHENS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	9,650	9,650	04/18/2005
PPG INDUSTRIES, INC.			PPG		Annual Meeting Date: 04/21/2005
Issuer: 693506		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHELE J. HOOPER	Management	For	For
		RAYMOND W. LEBOEUF	Management	For	For
		ROBERT MEHRABIAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	107	7,200	7,200	04/18/2005
SENSIENT TECHNOLOGIES CORPORATION			SXT		Annual Meeting Date: 04/21/2005
Issuer: 81725T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANK BROWN	Management	For	For
		JAMES A.D. CROFT	Management	For	For
		ALBERTO FERNANDEZ	Management	For	For
02	DECLASSIFY BOARD		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	21,500	21,500	04/18/2005
TEXAS INSTRUMENTS INCORPORATED			TXN		Annual Meeting Date: 04/21/2005
Issuer: 882508		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.R. ADAMS	Management	For	For
		D.L. BOREN	Management	For	For
		D.A. CARP	Management	For	For
		C.S. COX	Management	For	For
		T.J. ENGIBOUS	Management	For	For
		G.W. FRONTERHOUSE	Management	For	For
		D.R. GOODE	Management	For	For
		P.H. PATSLEY	Management	For	For
		W.R. SANDERS	Management	For	For
		R.J. SIMMONS	Management	For	For
		R.K. TEMPLETON	Management	For	For
		C.T. WHITMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT STOCK PURCHASE PLAN		Management	For	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	104	19,200	19,200	04/18/2005
WYETH			WYE		Annual Meeting Date: 04/21/2005
Issuer: 983024		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		R.L. CARRION	Management	For	For
		R. ESSNER	Management	For	For
		J.D. FEERICK	Management	For	For
		F.D. FERGUSSON	Management	For	For
		R. LANGER	Management	For	For
		J.P. MASCOTTE	Management	For	For
		M.L. POLAN	Management	For	For
		I.G. SEIDENBERG	Management	For	For
		W.V. SHIPLEY	Management	For	For
		J.R. TORELL III	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
07	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	38,600	38,600	04/18/2005
ALLERGAN, INC.			AGN		Annual Meeting Date: 04/26/2005
Issuer: 018490		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		TREVOR M. JONES	Management	For	For
		KAREN R. OSAR	Management	For	For
		LEONARD D. SCHAEFFER	Management	For	For
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	9,500	9,500	04/21/2005
AMEREN CORPORATION			AEE		Annual Meeting Date: 04/26/2005
Issuer: 023608		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		SUSAN S. ELLIOTT	Management	For	For
		GAYLE P.W. JACKSON	Management	For	For
		JAMES C. JOHNSON	Management	For	For
		RICHARD A. LIDDY	Management	For	For
		GORDON R. LOHMAN	Management	For	For
		RICHARD A. LUMPKIN	Management	For	For
		PAUL L. MILLER, JR.	Management	For	For
		CHARLES W. MUELLER	Management	For	For
		DOUGLAS R. OBERHELMAN	Management	For	For
		GARY L. RAINWATER	Management	For	For
		HARVEY SALIGMAN	Management	For	For
		PATRICK T. STOKES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	15,200	15,200	04/21/2005
BANTA CORPORATION			BN		Annual Meeting Date: 04/26/2005
Issuer: 066821		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMESON A. BAXTER	Management	For	For
		JOHN F. BERGSTROM	Management	For	For
		HENRY T. DENERO	Management	For	For
		DAVID T. GIBBONS	Management	For	For
		PAUL C. REYELTS	Management	For	For
		RAY C. RICHELSEN	Management	For	For
		STEPHANIE A. STREETER	Management	For	For
		MICHAEL J. WINKLER	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	12,500	12,500	04/21/2005
INTERNATIONAL BUSINESS MACHINES CORP			IBM		Annual Meeting Date: 04/26/2005
Issuer: 459200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		C. BLACK	Management	For	For
		K.I. CHENAULT	Management	For	For
		J. DORMANN	Management	For	For
		M.L. ESKEW	Management	For	For
		C. GHOSN	Management	For	For
		C.F. KNIGHT	Management	For	For
		M. MAKIHARA	Management	For	For
		L.A. NOTO	Management	For	For
		S.J. PALMISANO	Management	For	For
		J.E. SPERO	Management	For	For
		S. TAUREL	Management	For	For
		C.M. VEST	Management	For	For
		L.H. ZAMBRANO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
07	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	For	No
	COMPENSATION
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	11,100	11,100	04/21/2005
MERCK & CO., INC.			MRK		Annual Meeting Date: 04/26/2005
Issuer: 589331		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROCHELLE B. LAZARUS	Management	For	For
		WILLIAM G. BOWEN	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		THOMAS E. SHENK	Management	For	For
		ANNE M. TATLOCK	Management	For	For
		SAMUEL O. THIER	Management	For	For
		WENDELL P. WEEKS	Management	For	For
		PETER C. WENDELL	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
09	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	107	25,300	25,300	04/21/2005
THE PNC FINANCIAL SERVICES GROUP, IN			PNC		Annual Meeting Date: 04/26/2005
Issuer: 693475		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MR. CHELLGREN	Management	For	For
		MR. CLAY	Management	For	For
		MR. COOPER	Management	For	For
		MR. DAVIDSON	Management	For	For
		MR. KELSON	Management	For	For
		MR. LINDSAY	Management	For	For
		MR. MASSARO	Management	For	For
		MR. O'BRIEN	Management	For	For
		MS. PEPPER	Management	For	For
		MR. ROHR	Management	For	For
		MS. STEFFES	Management	For	For
		MR. STRIGL	Management	For	For
		MR. THIEKE	Management	For	For
		MR. USHER	Management	For	For
		MR. WASHINGTON	Management	For	For
		MR. WEHMEIER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	105	33,400	33,400	04/21/2005
WELLS FARGO & COMPANY			WFC		Annual Meeting Date: 04/26/2005
Issuer: 949746		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.A. BLANCHARD III	Management	For	For
		SUSAN E. ENGEL	Management	For	For
		ENRIQUE HERNANDEZ, JR.	Management	For	For
		ROBERT L. JOSS	Management	For	For
		REATHA CLARK KING	Management	For	For
		RICHARD M. KOVACEVICH	Management	For	For
		RICHARD D. MCCORMICK	Management	For	For
		CYNTHIA H. MILLIGAN	Management	For	For
		PHILIP J. QUIGLEY	Management	For	For
		DONALD B. RICE	Management	For	For
		JUDITH M. RUNSTAD	Management	For	For
		STEPHEN W. SANGER	Management	For	For
		SUSAN G. SWENSON	Management	For	For
		MICHAEL W. WRIGHT	Management	For	For
02	AMEND LONG TERM INCENTIVE PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	30,900	30,900	04/21/2005
ANHEUSER-BUSCH COMPANIES, INC.			BUD		Annual Meeting Date: 04/27/2005
Issuer: 035229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. JACOB	Management	For	For
		CHARLES F. KNIGHT	Management	For	For
		JOYCE M. ROCHE	Management	For	For
		HENRY HUGH SHELTON	Management	For	For
		PATRICK T. STOKES	Management	For	For
02	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	18,500	18,500	04/22/2005
BANK OF AMERICA CORPORATION			BAC		Annual Meeting Date: 04/27/2005
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM BARNET, III	Management	For	For
		CHARLES W. COKER	Management	For	For
		JOHN T. COLLINS	Management	For	For
		GARY L. COUNTRYMAN	Management	For	For
		PAUL FULTON	Management	For	For
		CHARLES K. GIFFORD	Management	For	For
		W. STEVEN JONES	Management	For	For
		KENNETH D. LEWIS	Management	For	For
		WALTER E. MASSEY	Management	For	For
		THOMAS J. MAY	Management	For	For
		PATRICIA E. MITCHELL	Management	For	For
		EDWARD L. ROMERO	Management	For	For
		THOMAS M. RYAN	Management	For	For
		O. TEMPLE SLOAN, JR.	Management	For	For
		MEREDITH R. SPANGLER	Management	For	For
		ROBERT L. TILLMAN	Management	For	For
		JACKIE M. WARD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	104	80,000	80,000	04/22/2005
CHEVRONTEXACO CORPORATION			CVX		Annual Meeting Date: 04/27/2005
Issuer: 166764		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		S.H. ARMACOST	Management	For	For
		R.E. DENHAM	Management	For	For
		R.J. EATON	Management	For	For
		S. GINN	Management	For	For
		C.A. HILLS	Management	For	For
		F.G. JENIFER	Management	For	For
		S. NUNN	Management	For	For
		D.J. O'REILLY	Management	For	For
		P.J. ROBERTSON	Management	For	For
		C.R. SHOEMATE	Management	For	For
		R.D. SUGAR	Management	For	For
		C. WARE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
06	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	33,520	33,520	04/22/2005
E. I. DU PONT DE NEMOURS AND COMPANY			DD		Annual Meeting Date: 04/27/2005
Issuer: 263534		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		A.J.P. BELDA	Management	For	For
		R.H. BROWN	Management	For	For
		C.J. CRAWFORD	Management	For	For
		J.T. DILLON	Management	For	For
		L.C. DUEMLING	Management	For	For
		C.O. HOLLIDAY, JR.	Management	For	For
		L.D. JULIBER	Management	For	For
		M. NAITOH	Management	For	For
		W.K. REILLY	Management	For	For
		H.R. SHARP, III	Management	For	For
		C.M. VEST	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	11,100	11,100	04/22/2005
GENERAL ELECTRIC COMPANY			GE		Annual Meeting Date: 04/27/2005
Issuer: 369604		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
A	ELECTION OF DIRECTORS		Management	For		No
		JAMES I. CASH, JR.	Management	For	For
		WILLIAM M. CASTELL	Management	For	For
		DENNIS D. DAMMERMAN	Management	For	For
		ANN M. FUDGE	Management	For	For
		CLAUDIO X. GONZALEZ	Management	For	For
		JEFFREY R. IMMELT	Management	For	For
		ANDREA JUNG	Management	For	For
		ALAN G. LAFLEY	Management	For	For
		RALPH S. LARSEN	Management	For	For
		ROCHELLE B. LAZARUS	Management	For	For
		SAM NUNN	Management	For	For
		ROGER S. PENSKE	Management	For	For
		ROBERT J. SWIERINGA	Management	For	For
		DOUGLAS A. WARNER III	Management	For	For
		ROBERT C. WRIGHT	Management	For	For
B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
02	S/H - RESEARCH RENEWABLE ENERGY		Shareholder	Against	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	116,250	116,250	04/22/2005
PIPER JAFFRAY COMPANIES			PJC		Annual Meeting Date: 04/27/2005
Issuer: 724078		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL R. FRANCIS	Management	For	For
		ADDISON L. PIPER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	675	675	04/22/2005
THE STANLEY WORKS			SWK		Annual Meeting Date: 04/27/2005
Issuer: 854616		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		STILLMAN B. BROWN	Management	For	For
		EMMANUEL A. KAMPOURIS	Management	For	For
		KATHRYN D. WRISTON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder			No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	17,900	17,900	04/22/2005
ALTRIA GROUP, INC.			MO		Annual Meeting Date: 04/28/2005
Issuer: 02209S		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ELIZABETH E. BAILEY	Management	For	For
		HAROLD BROWN	Management	For	For
		MATHIS CABIALLAVETTA	Management	For	For
		LOUIS C. CAMILLERI	Management	For	For
		J. DUDLEY FISHBURN	Management	For	For
		ROBERT E. R. HUNTLEY	Management	For	For
		THOMAS W. JONES	Management	For	For
		GEORGE MUNOZ	Management	For	For
		LUCIO A. NOTO	Management	For	For
		JOHN S. REED	Management	For	For
		CARLOS SLIM HELU	Management	For	For
		STEPHEN M. WOLF	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	Against	For	No
06	S/H PROPOSAL - TOBACCO		Shareholder	Against	For	No
07	S/H PROPOSAL - TOBACCO		Shareholder	Against	For	No
08	S/H PROPOSAL - TOBACCO		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	14,700	14,700	04/25/2005
JOHNSON & JOHNSON			JNJ		Annual Meeting Date: 04/28/2005
Issuer: 478160		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MARY S. COLEMAN	Management	For	For
		JAMES G. CULLEN	Management	For	For
		ROBERT J. DARRETTA	Management	For	For
		MICHAEL M. E. JOHNS	Management	For	For
		ANN D. JORDAN	Management	For	For
		ARNOLD G. LANGBO	Management	For	For
		SUSAN L. LINDQUIST	Management	For	For
		LEO F. MULLIN	Management	For	For
		CHRISTINE A. POON	Management	For	For
		STEVEN S REINEMUND	Management	For	For
		DAVID SATCHER	Management	For	For
		WILLIAM C. WELDON	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	104	39,200	39,200	04/25/2005
KIMBERLY-CLARK CORPORATION			KMB		Annual Meeting Date: 04/28/2005
Issuer: 494368		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN F. BERGSTROM	Management	For	For
		ROBERT W. DECHERD	Management	For	For
		G. CRAIG SULLIVAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	13,600	13,600	04/25/2005
LOCKHEED MARTIN CORPORATION			LMT		Annual Meeting Date: 04/28/2005
Issuer: 539830		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		E.C."PETE"ALDRIDGE, JR.	Management	For	For
		NOLAN D. ARCHIBALD	Management	For	For
		MARCUS C. BENNETT	Management	For	For
		JAMES O. ELLIS, JR.	Management	For	For
		GWENDOLYN S. KING	Management	For	For
		DOUGLAS H. MCCORKINDALE	Management	For	For
		EUGENE F. MURPHY	Management	For	For
		JOSEPH W. RALSTON	Management	For	For
		FRANK SAVAGE	Management	For	For
		ANNE STEVENS	Management	For	For
		ROBERT J. STEVENS	Management	For	For
		JAMES R. UKROPINA	Management	For	For
		DOUGLAS C. YEARLEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	22,600	22,600	04/25/2005
PFIZER INC.			PFE		Annual Meeting Date: 04/28/2005
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL S. BROWN	Management	For	For
		M. ANTHONY BURNS	Management	For	For
		ROBERT N. BURT	Management	For	For
		W. DON CORNWELL	Management	For	For
		WILLIAM H. GRAY III	Management	For	For
		CONSTANCE J. HORNER	Management	For	For
		WILLIAM R. HOWELL	Management	For	For
		STANLEY O. IKENBERRY	Management	For	For
		GEORGE A. LORCH	Management	For	For
		HENRY A. MCKINNELL	Management	For	For
		DANA G. MEAD	Management	For	For
		RUTH J. SIMMONS	Management	For	For
		WILLIAM C. STEERE, JR.	Management	For	For
		JEAN-PAUL VALLES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	85,580	85,580	04/25/2005
ZIMMER HOLDINGS, INC.			ZMH		Annual Meeting Date: 05/02/2005
Issuer: 98956P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J. RAYMOND ELLIOTT	Management	For	For
02	AMEND STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	3,760	3,760	04/27/2005
AMERICAN STANDARD COMPANIES INC.			ASD		Annual Meeting Date: 05/03/2005
Issuer: 029712		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JARED L. COHON	Management	For	For
		PAUL J. CURLANDER	Management	For	For
		FREDERIC M. POSES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	106	24,600	24,600	04/28/2005
BRISTOL-MYERS SQUIBB COMPANY			BMY		Annual Meeting Date: 05/03/2005
Issuer: 110122		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		V.D. COFFMAN	Management	For	For
		J.M. CORNELIUS	Management	For	For
		P.R. DOLAN	Management	For	For
		E.V. FUTTER	Management	For	For
		L.V. GERSTNER, JR.	Management	For	For
		L. JOHANSSON	Management	For	For
		L.W. SULLIVAN, M.D.	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
06	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	108	37,600	37,600	04/28/2005
THE ST. PAUL TRAVELERS COMPANIES, IN			STA		Annual Meeting Date: 05/03/2005
Issuer: 792860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN H. DASBURG	Management	For	For
		LESLIE B. DISHAROON	Management	For	For
		JANET M. DOLAN	Management	For	For
		KENNETH M. DUBERSTEIN	Management	For	For
		JAY S. FISHMAN	Management	For	For
		LAWRENCE G. GRAEV	Management	For	For
		THOMAS R. HODGSON	Management	For	For
		ROBERT I. LIPP	Management	For	For
		BLYTHE J. MCGARVIE	Management	For	For
		GLEN D. NELSON, MD	Management	For	For
		CLARENCE OTIS, JR.	Management	For	For
		CHARLES W. SCHARF	Management	For	For
		LAURIE J. THOMSEN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	108	21,956	21,956	04/28/2005
WEINGARTEN REALTY INVESTORS			WRI		Annual Meeting Date: 05/03/2005
Issuer: 948741		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		STANFORD ALEXANDER	Management	For	For
		ANDREW M. ALEXANDER	Management	For	For
		J. MURRY BOWDEN	Management	For	For
		JAMES W. CROWNOVER	Management	For	For
		ROBERT J. CRUIKSHANK	Management	For	For
		MELVIN A. DOW	Management	For	For
		STEPHEN A. LASHER	Management	For	For
		DOUGLAS W. SCHNITZER	Management	For	For
		MARC J. SHAPIRO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	TRANSACT OTHER BUSINESS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	46,350	46,350	04/28/2005
DANAHER CORPORATION			DHR		Annual Meeting Date: 05/04/2005
Issuer: 235851		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		H. LAWRENCE CULP, JR.	Management	For	For
		MITCHELL P. RALES	Management	For	For
		A. EMMET STEPHENSON JR	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	25,000	25,000	04/28/2005
PEPSICO, INC.			PEP		Annual Meeting Date: 05/04/2005
Issuer: 713448		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.F. AKERS	Management	For	For
		R.E. ALLEN	Management	For	For
		R.L. HUNT	Management	For	For
		A.C. MARTINEZ	Management	For	For
		I.K. NOOYI	Management	For	For
		S.S REINEMUND	Management	For	For
		S.P. ROCKEFELLER	Management	For	For
		J.J. SCHIRO	Management	For	For
		F.A. THOMAS	Management	For	For
		C.M. TRUDELL	Management	For	For
		S.D. TRUJILLO	Management	For	For
		D. VASELLA	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	108	27,200	27,200	04/28/2005
PUBLIC STORAGE, INC.			PSA		Annual Meeting Date: 05/05/2005
Issuer: 74460D		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		B. WAYNE HUGHES	Management	For	For
		RONALD L. HAVNER, JR.	Management	For	For
		HARVEY LENKIN	Management	For	For
		ROBERT J. ABERNETHY	Management	For	For
		DANN V. ANGELOFF	Management	For	For
		WILLIAM C. BAKER	Management	For	For
		JOHN T. EVANS	Management	For	For
		URI P. HARKHAM	Management	For	For
		B. WAYNE HUGHES, JR.	Management	For	For
		DANIEL C. STATON	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	30,500	30,500	05/02/2005
STARWOOD HOTELS & RESORTS WORLDWIDE,			HOT		Annual Meeting Date: 05/05/2005
Issuer: 85590A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BARSHEFSKY	Management	For	For
		CHAPUS	Management	For	For
		DUNCAN	Management	For	For
		HEYER	Management	For	For
		HIPPEAU	Management	For	For
		QUAZZO	Management	For	For
		RYDER	Management	For	For
		STERNLICHT	Management	For	For
		YIH	Management	For	For
		YOUNGBLOOD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	203	21,800	21,800	05/02/2005
VERIZON COMMUNICATIONS INC.			VZ		Annual Meeting Date: 05/05/2005
Issuer: 92343V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.R. BARKER	Management	For	For
		R.L. CARRION	Management	For	For
		R.W. LANE	Management	For	For
		S.O. MOOSE	Management	For	For
		J. NEUBAUER	Management	For	For
		T.H. O'BRIEN	Management	For	For
		H.B. PRICE	Management	For	For
		I.G. SEIDENBERG	Management	For	For
		W.V. SHIPLEY	Management	For	For
		J.R. STAFFORD	Management	For	For
		R.D. STOREY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	104	15,200	15,200	05/02/2005
WISCONSIN ENERGY CORPORATION			WEC		Annual Meeting Date: 05/05/2005
Issuer: 976657		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN F. AHEARNE	Management	For	For
		JOHN F. BERGSTROM	Management	For	For
		BARBARA L. BOWLES	Management	For	For
		ROBERT A. CORNOG	Management	For	For
		CURT S. CULVER	Management	For	For
		GALE E. KLAPPA	Management	For	For
		ULICE PAYNE, JR.	Management	For	For
		F.P. STRATTON, JR.	Management	For	For
		GEORGE E. WARDEBERG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	106	9,800	9,800	05/02/2005
ILLINOIS TOOL WORKS INC.			ITW		Annual Meeting Date: 05/06/2005
Issuer: 452308		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM F. ALDINGER	Management	For	For
		MICHAEL J. BIRCK	Management	For	For
		MARVIN D. BRAILSFORD	Management	For	For
		SUSAN CROWN	Management	For	For
		DON H. DAVIS, JR.	Management	For	For
		W. JAMES FARRELL	Management	For	For
		ROBERT C. MCCORMACK	Management	For	For
		ROBERT S. MORRISON	Management	For	For
		HAROLD B. SMITH	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	8,600	8,600	05/03/2005
REYNOLDS AMERICAN INC.			RAI		Annual Meeting Date: 05/06/2005
Issuer: 761713		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BETSY S. ATKINS	Management	For	For
		E.V. (RICK) GOINGS	Management	For	For
		NANA MENSAH	Management	For	For
		R.S. (STEVE) MILLER, JR	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	106	12,949	12,949	05/03/2005
3M COMPANY			MMM		Annual Meeting Date: 05/10/2005
Issuer: 88579Y		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		VANCE D. COFFMAN	Management	For	For
		ROZANNE L. RIDGWAY	Management	For	For
		LOUIS W. SULLIVAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT NON-QUALIFIED STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	10,200	10,200	05/05/2005
AMGEN INC.			AMGN		Annual Meeting Date: 05/11/2005
Issuer: 031162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DR. DAVID BALTIMORE	Management	For	For
		MS. JUDITH C. PELHAM	Management	For	For
		MR. KEVIN W. SHARER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03A	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
03B	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
03C	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	14,400	14,400	05/06/2005
NEWELL RUBBERMAID INC.			NWL		Annual Meeting Date: 05/11/2005
Issuer: 651229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL T. COWHIG	Management	For	For
		MARK D. KETCHUM	Management	For	For
		WILLIAM D. MAROHN	Management	For	For
		RAYMOND G. VIAULT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	Against	For	No
	$100,000
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	106	17,800	17,800	05/06/2005
PLUM CREEK TIMBER COMPANY, INC.			PCL		Annual Meeting Date: 05/11/2005
Issuer: 729251		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		RICK R. HOLLEY	Management	For	For
		IAN B. DAVIDSON	Management	For	For
		ROBIN JOSEPHS	Management	For	For
		JOHN G. MCDONALD	Management	For	For
		ROBERT B. MCLEOD	Management	For	For
		HAMID R. MOGHADAM	Management	For	For
		JOHN H. SCULLY	Management	For	For
		STEPHEN C. TOBIAS	Management	For	For
		CARL B. WEBB	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - CREATE THRESHOLD AS TO NUMBER OF SHARES		Shareholder	Against	For	No
	HELD TO BE DIRECTOR
04	S/H - INDEXING OF STOCK OPTIONS		Shareholder	Against	For	No
05	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	108	41,500	41,500	05/06/2005
ANADARKO PETROLEUM CORPORATION			APC		Annual Meeting Date: 05/12/2005
Issuer: 032511		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN R. BUTLER, JR.	Management	For	For
		PRESTON M. GEREN III	Management	For	For
		JOHN R. GORDON	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	107	13,600	13,600	05/09/2005
HEALTH CARE PROPERTY INVESTORS, INC.			HCP		Annual Meeting Date: 05/12/2005
Issuer: 421915		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MARY A. CIRILLO	Management	For	For
		ROBERT R. FANNING, JR.	Management	For	For
		JAMES F. FLAHERTY III	Management	For	For
		DAVID B. HENRY	Management	For	For
		MICHAEL D. MCKEE	Management	For	For
		HAROLD M. MESSMER, JR.	Management	For	For
		PETER L. RHEIN	Management	For	For
		KENNETH B. ROATH	Management	For	For
		RICHARD M. ROSENBERG	Management	For	For
		JOSEPH P. SULLIVAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	45,200	45,200	05/09/2005
THE DOW CHEMICAL COMPANY			DOW		Annual Meeting Date: 05/12/2005
Issuer: 260543		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JACQUELINE K. BARTON	Management	For	For
		ANTHONY J. CARBONE	Management	For	For
		BARBARA H. FRANKLIN	Management	For	For
		ANDREW N. LIVERIS	Management	For	For
		HAROLD T. SHAPIRO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	20,100	20,100	05/09/2005
WASTE MANAGEMENT, INC.			WMI		Annual Meeting Date: 05/13/2005
Issuer: 94106L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		PASTORA S.J. CAFFERTY	Management	For	For
		FRANK M. CLARK, JR.	Management	For	For
		ROBERT S. MILLER	Management	For	For
		JOHN C. POPE	Management	For	For
		W. ROBERT REUM	Management	For	For
		STEVEN G. ROTHMEIER	Management	For	For
		DAVID P. STEINER	Management	For	For
		THOMAS H. WEIDEMEYER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	19,900	19,900	05/10/2005
WATSON PHARMACEUTICALS, INC.			WPI		Annual Meeting Date: 05/13/2005
Issuer: 942683		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL J. FEDIDA	Management	For	For
		ALBERT F. HUMMEL	Management	For	For
		CATHERINE M. KLEMA	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	27,000	27,000	05/10/2005
WEATHERFORD INTERNATIONAL LTD.			WFT		Annual Meeting Date: 05/13/2005
Issuer: G95089		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		NICHOLAS F. BRADY	Management	For	For
		DAVID J. BUTTERS	Management	For	For
		BERNARD J. DUROC-DANNER	Management	For	For
		SHELDON B. LUBAR	Management	For	For
		WILLIAM E. MACAULAY	Management	For	For
		ROBERT B. MILLARD	Management	For	For
		ROBERT K. MOSES, JR.	Management	For	For
		ROBERT A. RAYNE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	12,200	12,200	05/10/2005
CENTERPOINT PROPERTIES TRUST			CNT		Annual Meeting Date: 05/16/2005
Issuer: 151895		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		NICHOLAS C. BABSON	Management	For	For
		MARTIN BARBER	Management	For	For
		NORMAN R. BOBINS	Management	For	For
		ALAN D. FELD	Management	For	For
		PAUL S. FISHER	Management	For	For
		JOHN S. GATES, JR.	Management	For	For
		DONALD A. KING, JR.	Management	For	For
		MICHAEL M. MULLEN	Management	For	For
		THOMAS E. ROBINSON	Management	For	For
		JOHN C. STALEY	Management	For	For
		ROBERT L. STOVALL	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	44,500	44,500	05/11/2005
LIMITED BRANDS, INC.			LTD		Annual Meeting Date: 05/16/2005
Issuer: 532716		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DONNA A. JAMES	Management	For	For
		LEONARD A. SCHLESINGER	Management	For	For
		JEFFREY B. SWARTZ	Management	For	For
		RAYMOND ZIMMERMAN	Management	For	For
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	107	46,900	46,900	05/11/2005
JPMORGAN CHASE & CO.			JPM		Annual Meeting Date: 05/17/2005
Issuer: 46625H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANS W. BECHERER	Management	For	For
		JOHN H. BIGGS	Management	For	For
		LAWRENCE A. BOSSIDY	Management	For	For
		STEPHEN B. BURKE	Management	For	For
		JAMES S. CROWN	Management	For	For
		JAMES DIMON	Management	For	For
		ELLEN V. FUTTER	Management	For	For
		WILLIAM H. GRAY III	Management	For	For
		WILLIAM B. HARRISON JR.	Management	For	For
		LABAN P. JACKSON JR.	Management	For	For
		JOHN W. KESSLER	Management	For	For
		ROBERT I. LIPP	Management	For	For
		RICHARD A. MANOOGIAN	Management	For	For
		DAVID C. NOVAK	Management	For	For
		LEE R. RAYMOND	Management	For	For
		WILLIAM C. WELDON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	41,050	41,050	05/12/2005
NORTHROP GRUMMAN CORPORATION			NOC		Annual Meeting Date: 05/17/2005
Issuer: 666807		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		PHILLIP FROST	Management	For	For
		JOHN B. SLAUGHTER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	For	No
04	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	24,000	24,000	05/12/2005
PRINCIPAL FINANCIAL GROUP, INC.			PFG		Annual Meeting Date: 05/17/2005
Issuer: 74251V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BETSY J. BERNARD	Management	For	For
		JOCELYN CARTER-MILLER	Management	For	For
		GARY E. COSTLEY	Management	For	For
		WILLIAM T. KERR	Management	For	For
02	ADOPT DIRECTOR STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	16,700	16,700	05/12/2005
THE ALLSTATE CORPORATION			ALL		Annual Meeting Date: 05/17/2005
Issuer: 020002		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		F. DUANE ACKERMAN	Management	For	For
		JAMES G. ANDRESS	Management	For	For
		EDWARD A. BRENNAN	Management	For	For
		W. JAMES FARRELL	Management	For	For
		JACK M. GREENBERG	Management	For	For
		RONALD T. LEMAY	Management	For	For
		EDWARD M. LIDDY	Management	For	For
		J. CHRISTOPHER REYES	Management	For	For
		H. JOHN RILEY, JR.	Management	For	For
		JOSHUA I. SMITH	Management	For	For
		JUDITH A. SPRIESER	Management	For	For
		MARY ALICE TAYLOR	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	12,600	12,600	05/12/2005
INTEL CORPORATION			INTC		Annual Meeting Date: 05/18/2005
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CRAIG R. BARRETT	Management	For	For
		CHARLENE BARSHEFSKY	Management	For	For
		E. JOHN P. BROWNE	Management	For	For
		D. JAMES GUZY	Management	For	For
		REED E. HUNDT	Management	For	For
		PAUL S. OTELLINI	Management	For	For
		DAVID S. POTTRUCK	Management	For	For
		JANE E. SHAW	Management	For	For
		JOHN L. THORNTON	Management	For	For
		DAVID B. YOFFIE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	67,300	67,300	05/13/2005
TARGET CORPORATION			TGT		Annual Meeting Date: 05/18/2005
Issuer: 87612E		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROXANNE S. AUSTIN	Management	For	For
		JAMES A. JOHNSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	106	10,900	10,900	05/13/2005
MARSH & MCLENNAN COMPANIES, INC.			MMC		Annual Meeting Date: 05/19/2005
Issuer: 571748		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL G. CHERKASKY	Management	For	For
		STEPHEN R. HARDIS	Management	For	For
		THE RT. HON. LORD LANG	Management	For	For
		MORTON O. SCHAPIRO	Management	For	For
		ADELE SIMMONS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	18,500	18,500	05/16/2005
CONSTELLATION ENERGY GROUP, INC.			CEG		Annual Meeting Date: 05/20/2005
Issuer: 210371		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		YVES C. DE BALMANN	Management	For	For
		F.A. HRABOWSKI, III	Management	For	For
		NANCY LAMPTON	Management	For	For
		LYNN M. MARTIN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	26,300	26,300	05/17/2005
SEALED AIR CORPORATION			SEE		Annual Meeting Date: 05/20/2005
Issuer: 81211K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANK BROWN	Management	For	For
		MICHAEL CHU	Management	For	For
		LAWRENCE R. CODEY	Management	For	For
		T.J. DERMOT DUNPHY	Management	For	For
		CHARLES F. FARRELL, JR.	Management	For	For
		WILLIAM V. HICKEY	Management	For	For
		JACQUELINE B. KOSECOFF	Management	For	For
		KENNETH P. MANNING	Management	For	For
		WILLIAM J. MARINO	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	100	11,100	11,100	05/17/2005
TIME WARNER INC.			TWX		Annual Meeting Date: 05/20/2005
Issuer: 887317		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES L. BARKSDALE	Management	For	For
		STEPHEN F. BOLLENBACH	Management	For	For
		STEPHEN M. CASE	Management	For	For
		FRANK J. CAUFIELD	Management	For	For
		ROBERT C. CLARK	Management	For	For
		JESSICA P. EINHORN	Management	For	For
		MILES R. GILBURNE	Management	For	For
		CARLA A. HILLS	Management	For	For
		REUBEN MARK	Management	For	For
		MICHAEL A. MILES	Management	For	For
		KENNETH J. NOVACK	Management	For	For
		RICHARD D. PARSONS	Management	For	For
		R.E. TURNER	Management	For	For
		FRANCIS T. VINCENT, JR.	Management	For	For
		DEBORAH C. WRIGHT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	105	110,700	110,700	05/17/2005
UNOCAL CORPORATION			UCL		Annual Meeting Date: 05/23/2005
Issuer: 915289		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CRAIG ARNOLD	Management	For	For
		JAMES W. CROWNOVER	Management	For	For
		DONALD B. RICE	Management	For	For
		MARK A. SUWYN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	9,400	9,400	05/18/2005
EXXON MOBIL CORPORATION			XOM		Annual Meeting Date: 05/25/2005
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		M.J. BOSKIN	Management	For	For
		W.W. GEORGE	Management	For	For
		J.R. HOUGHTON	Management	For	For
		W.R. HOWELL	Management	For	For
		R.C. KING	Management	For	For
		P.E. LIPPINCOTT	Management	For	For
		H.A. MCKINNELL, JR.	Management	For	For
		M.C. NELSON	Management	For	For
		L.R. RAYMOND	Management	For	For
		W.V. SHIPLEY	Management	For	For
		R.W. TILLERSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	For	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	62,100	62,100	05/20/2005
THE SOUTHERN COMPANY			SO		Annual Meeting Date: 05/25/2005
Issuer: 842587		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		D.P. AMOS	Management	For	For
		D.J. BERN	Management	For	For
		F.S. BLAKE	Management	For	For
		T.F. CHAPMAN	Management	For	For
		B.S. GORDON	Management	For	For
		D.M. JAMES	Management	For	For
		Z.T. PATE	Management	For	For
		J.N. PURCELL	Management	For	For
		D.M. RATCLIFFE	Management	For	For
		G.J. ST. PE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	107	10,000	10,000	05/20/2005
LOWE'S COMPANIES, INC.			LOW		Annual Meeting Date: 05/27/2005
Issuer: 548661		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROBERT A. INGRAM	Management	For	For
		RICHARD K. LOCHRIDGE	Management	For	For
		ROBERT L. JOHNSON	Management	For	For
02	AMEND DIRECTOR STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	107	13,000	13,000	05/24/2005
COMCAST CORPORATION			CMCSA		Annual Meeting Date: 06/01/2005
Issuer: 20030N		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		S. DECKER ANSTROM	Management	For	For
		KENNETH J. BACON	Management	For	For
		SHELDON M. BONOVITZ	Management	For	For
		EDWARD D. BREEN	Management	For	For
		JULIAN A. BRODSKY	Management	For	For
		JOSEPH L. CASTLE, II	Management	For	For
		JOSEPH J. COLLINS	Management	For	For
		J. MICHAEL COOK	Management	For	For
		BRIAN L. ROBERTS	Management	For	For
		RALPH J. ROBERTS	Management	For	For
		DR. JUDITH RODIN	Management	For	For
		MICHAEL I. SOVERN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT RESTRICTED STOCK AWARD PLAN		Management	For	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	16,800	16,800	05/26/2005
INGERSOLL-RAND COMPANY LIMITED			IR		Annual Meeting Date: 06/01/2005
Issuer: G4776G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		A.C. BERZIN	Management	For	For
		H.L. HENKEL	Management	For	For
		H.W. LICHTENBERGER	Management	For	For
		T.L. WHITE	Management	For	For
02	RATIFY SHAREHOLDER RIGHTS PLAN		Management	For	For	No
03	ELIMINATE CUMULATIVE VOTING		Management	For	For	No
04	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	9,400	9,400	05/26/2005
CENTERPOINT ENERGY, INC.			CNP		Annual Meeting Date: 06/02/2005
Issuer: 15189T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
1 2	ELECTION OF DIRECTORS		Management	For		No
		D.R. CAMPBELL*	Management	For	For
		O.H. CROSSWELL**	Management	For	For
		T.F. MADISON**	Management	For	For
		J.M. LONGORIA**	Management	For	For
		P.S. WAREING**	Management	For	For
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	TRANSACT OTHER BUSINESS		Management	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	107	25,600	25,600	05/27/2005
WAL-MART STORES, INC.			WMT		Annual Meeting Date: 06/03/2005
Issuer: 931142		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES W. BREYER	Management	For	For
		M. MICHELE BURNS	Management	For	For
		DOUGLAS N. DAFT	Management	For	For
		DAVID D. GLASS	Management	For	For
		ROLAND A. HERNANDEZ	Management	For	For
		JOHN D. OPIE	Management	For	For
		J. PAUL REASON	Management	For	For
		H. LEE SCOTT, JR.	Management	For	For
		JACK C. SHEWMAKER	Management	For	For
		JOSE H. VILLARREAL	Management	For	For
		JOHN T. WALTON	Management	For	For
		S. ROBSON WALTON	Management	For	For
		CHRISTOPHER J. WILLIAMS	Management	For	For
		LINDA S. WOLF	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
11	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	103	56,300	56,300	05/31/2005
PRUDENTIAL FINANCIAL, INC.			PRU		Annual Meeting Date: 06/07/2005
Issuer: 744320		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES G. CULLEN	Management	For	For
		JAMES A. UNRUH	Management	For	For
		GORDON M. BETHUNE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	DECLASSIFY BOARD		Management	For	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	34,400	34,400	06/02/2005
STAPLES, INC.			SPLS		Annual Meeting Date: 06/13/2005
Issuer: 855030		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BRENDA C. BARNES	Management	For	For
		MARY ELIZABETH BURTON	Management	For	For
		RICHARD J. CURRIE	Management	For	For
		ROWLAND T. MORIARTY	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	Against	For	No
	RATIFY POISON PILL
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	102	29,550	29,550	06/08/2005
NEENAH PAPER, INC.			NP		Annual Meeting Date: 06/20/2005
Issuer: 640079		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		TIMOTHY S. LUCAS	Management	For	For
		PHILIP C. MOORE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	109	412	412	06/15/2005
BEST BUY CO., INC.			BBY		Annual Meeting Date: 06/23/2005
Issuer: 086516		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		RONALD JAMES	Management	For	For
		ELLIOT S. KAPLAN	Management	For	For
		MATTHEW H. PAULL	Management	For	For
		RICHARD M. SCHULZE	Management	For	For
		MARY A. TOLAN	Management	For	For
		HATIM A. TYABJI	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	101	10,700	10,700	06/20/2005
ROYAL DUTCH PETROLEUM COMPANY			RD		Annual Meeting Date: 06/28/2005
Issuer: 780257		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
03B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
04A	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
4B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
9B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
10	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11A	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11C	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11D	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
12	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
13	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
14	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
15	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R INCOME FUND INC	1856061002	804	17,300	17,300	06/16/2005
SM&R GROWTH FUND PORTFOLIO
BED BATH & BEYOND INC.			BBBY		Annual Meeting Date: 07/01/2004
Issuer: 075896		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WARREN EISENBERG-3YR	Management	For	For
		VICTORIA A MORRISON-3YR	Management	For	For
		STANLEY BARSHAY-3YR	Management	For	For
		FRAN STOLLER-2YR	Management	For	For
		JORDAN HELLER-1YR	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	13,900	13,900	06/25/2004
KROLL, INC.			KROL		Special Meeting Date: 07/08/2004
Issuer: 501049		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	APPROVE MERGER AGREEMENT		Management	For	For	No
02	APPROVE MOTION TO ADJOURN MEETING		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	28,100	28,100	06/28/2004
DELL INC.			DELL		Annual Meeting Date: 07/16/2004
Issuer: 24702R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DONALD J. CARTY	Management	For	For
		MICHAEL S. DELL	Management	For	For
		WILLIAM H. GRAY, III	Management	For	For
		JUDY C. LEWENT	Management	For	For
		THOMAS W. LUCE, III	Management	For	For
		KLAUS S. LUFT	Management	For	For
		ALEX J. MANDL	Management	For	For
		MICHAEL A. MILES	Management	For	For
		SAMUEL A. NUNN, JR.	Management	For	For
		KEVIN B. ROLLINS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	31,700	31,700	07/12/2004
VODAFONE GROUP PLC			VOD		Annual Meeting Date: 07/27/2004
Issuer: 92857W		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
02	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
03	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
04	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
05	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
06	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
07	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
08	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
09	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
10	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
11	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
12	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
13	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
14	CHANGE STOCK EXCHANGE LISTING		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	26,000	26,000	07/12/2004
MCKESSON CORPORATION			MCK		Annual Meeting Date: 07/28/2004
Issuer: 58155Q		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN H. HAMMERGREN	Management	For	For
		ROBERT W. MATSCHULLAT	Management	For	For
		M. CHRISTINE JACOBS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	25,300	25,300	07/22/2004
THE ST. PAUL TRAVELERS COMPANIES, IN			STA		Annual Meeting Date: 07/28/2004
Issuer: 792860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		H.P. BERKOWITZ	Management	For	For
		K.J. BIALKIN	Management	For	For
		C.H. BYRD	Management	For	For
		J.H. DASBURG	Management	For	For
		L.B. DISHAROON	Management	For	For
		J.M. DOLAN	Management	For	For
		K.M. DUBERSTEIN	Management	For	For
		J.S. FISHMAN	Management	For	For
		L.G. GRAEV	Management	For	For
		M.D. HARTZBAND	Management	For	For
		T.R. HODGSON	Management	For	For
		W.H. KLING	Management	For	For
		J.A. LAWRENCE	Management	For	For
		R.I. LIPP	Management	For	For
		B.J. MCGARVIE	Management	For	For
		G.D. NELSON, MD	Management	For	For
		C. OTIS, JR.	Management	For	For
		J.M. PEEK	Management	For	For
		N.A. ROSEMAN	Management	For	For
		C.W. SCHARF	Management	For	For
		G.M. SPRENGER	Management	For	For
		F.J. TASCO	Management	For	For
		L.J. THOMSEN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	108	4,237	4,237	07/22/2004
ELECTRONIC ARTS INC.			ERTS		Annual Meeting Date: 07/29/2004
Issuer: 285512		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		M. RICHARD ASHER	Management	For	For
		WILLIAM J. BYRON	Management	For	For
		LEONARD S. COLEMAN	Management	For	For
		GARY M. KUSIN	Management	For	For
		GREGORY B. MAFFEI	Management	For	For
		TIMOTHY MOTT	Management	For	For
		ROBERT W. PITTMAN	Management	For	For
		LAWRENCE F. PROBST III	Management	For	For
		LINDA J. SRERE	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	For	No
04	APPROVE REVERSE STOCK SPLIT		Management	For	For	No
05	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
06	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	4,800	4,800	07/22/2004
XILINX, INC.			XLNX		Annual Meeting Date: 08/05/2004
Issuer: 983919		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLEM P. ROELANDTS	Management	For	For
		JOHN L. DOYLE	Management	For	For
		JERALD G. FISHMAN	Management	For	For
		PHILIP T. GIANOS	Management	For	For
		HAROLD E. HUGHES, JR.	Management	For	For
		WILLIAM G. HOWARD, JR.	Management	For	For
		RICHARD W. SEVCIK	Management	For	For
		ELIZABETH VANDERSLICE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	3,100	3,100	08/03/2004
COMPUTER ASSOCIATES INTERNATIONAL, I			CA		Annual Meeting Date: 08/25/2004
Issuer: 204912		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		RUSSELL M. ARTZT	Management	For	For
		KENNETH D. CRON	Management	For	For
		ALFONSE M. D'AMATO	Management	For	For
		GARY J. FERNANDES	Management	For	For
		ROBERT E. LA BLANC	Management	For	For
		JAY W. LORSCH	Management	For	For
		LEWIS S. RANIERI	Management	For	For
		WALTER P. SCHUETZE	Management	For	For
		LAURA S. UNGER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	7,000	7,000	08/10/2004
VERITAS SOFTWARE CORPORATION			VRTS		Annual Meeting Date: 08/25/2004
Issuer: 923436		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL BROWN	Management	For	For
		KURT J. LAUK	Management	For	For
		FRED VAN DEN BOSCH	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	5,650	5,650	08/10/2004
MEDTRONIC, INC.			MDT		Annual Meeting Date: 08/26/2004
Issuer: 585055		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM R BRODY MD PHD	Management	For	For
		ARTHUR D COLLINS JR	Management	For	For
		ANTONIO M GOTTO JR MD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	21,400	21,400	08/10/2004
H&R BLOCK, INC.			HRB		Annual Meeting Date: 09/08/2004
Issuer: 093671		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DONNA R. ECTON	Management	For	For
		LOUIS W. SMITH	Management	For	For
		RAYFORD WILKINS, JR.	Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
03	AMEND STOCK OPTION PLAN		Management	For	For	No
04	AMEND STOCK OPTION PLAN		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	105	16,400	16,400	08/31/2004
MAXIM INTEGRATED PRODUCTS, INC.			MXIM		Special Meeting Date: 09/17/2004
Issuer: 57772K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	For	No
	SHARES
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	3,400	3,400	09/09/2004
CONAGRA FOODS, INC.			CAG		Annual Meeting Date: 09/23/2004
Issuer: 205887		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management			No
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management			No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management			No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder			No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	43,800	0
THE PROCTER & GAMBLE COMPANY			PG		Annual Meeting Date: 10/12/2004
Issuer: 742718		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		R. KERRY CLARK	Management	For	For
		JOSEPH T. GORMAN	Management	For	For
		LYNN M. MARTIN	Management	For	For
		RALPH SNYDERMAN	Management	For	For
		ROBERT D. STOREY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
04	MISCELLANEOUS CORPORATE GOVERNANCE		Management			No
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	40,000	40,000	09/27/2004
KLA-TENCOR CORPORATION			KLAC		Annual Meeting Date: 10/18/2004
Issuer: 482480		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		EDWARD W. BARNHOLT	Management	For	For
		STEPHEN P. KAUFMAN	Management	For	For
		KENNETH L. SCHROEDER	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	2,900	2,900	09/27/2004
MOLEX INCORPORATED			MOLX		Annual Meeting Date: 10/22/2004
Issuer: 608554		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		FREDERICK A. KREHBIEL	Management	For	For
		MASAHISA NAITOH	Management	For	For
		MICHAEL J. BIRCK	Management	For	For
		MARTIN P. SLARK	Management	For	For
02	ADOPT STOCK PURCHASE PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	2,300	2,300	10/12/2004
ORACLE CORPORATION			ORCL		Annual Meeting Date: 10/29/2004
Issuer: 68389X		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JEFFREY O. HENLEY	Management	For	For
		LAWRENCE J. ELLISON	Management	For	For
		DONALD L. LUCAS	Management	For	For
		MICHAEL J. BOSKIN	Management	For	For
		JACK F. KEMP	Management	For	For
		JEFFREY S. BERG	Management	For	For
		SAFRA CATZ	Management	For	For
		HECTOR GARCIA-MOLINA	Management	For	For
		JOSEPH A. GRUNDFEST	Management	For	For
		H. RAYMOND BINGHAM	Management	For	For
		CHARLES E. PHILLIPS, JR	Management	For	For
02	APPROVE EXECUTIVE BONUS PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	AMEND LONG TERM INCENTIVE PLAN		Management	For	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	105	65,700	65,700	10/14/2004
LINEAR TECHNOLOGY CORPORATION			LLTC		Annual Meeting Date: 11/03/2004
Issuer: 535678		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROBERT H. SWANSON, JR.	Management	For	For
		DAVID S. LEE	Management	For	For
		LEO T. MCCARTHY	Management	For	For
		RICHARD M. MOLEY	Management	For	For
		THOMAS S. VOLPE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	3,800	3,800	10/25/2004
FEDERAL HOME LOAN MORTGAGE CORPORATI			FRE		Annual Meeting Date: 11/04/2004
Issuer: 313400		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BARBARA T. ALEXANDER	Management	For	For
		GEOFFREY T. BOISI	Management	For	For
		MICHELLE ENGLER	Management	For	For
		RICHARD KARL GOELTZ	Management	For	For
		THOMAS S. JOHNSON	Management	For	For
		WILLIAM M. LEWIS, JR.	Management	For	For
		JOHN B. MCCOY	Management	For	For
		EUGENE M. MCQUADE	Management	For	For
		SHAUN F. O'MALLEY	Management	For	For
		RONALD F. POE	Management	For	For
		STEPHEN A. ROSS	Management	For	For
		RICHARD F. SYRON	Management	For	For
		WILLIAM J. TURNER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT STOCK OPTION PLAN		Management	For	For	No
04	AMEND STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	301	20,200	20,200	10/25/2004
AUTOMATIC DATA PROCESSING, INC.			ADP		Annual Meeting Date: 11/09/2004
Issuer: 053015		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		GREGORY D. BRENNEMAN	Management	For	For
		LESLIE A. BRUN	Management	For	For
		GARY C. BUTLER	Management	For	For
		JOSEPH A. CALIFANO, JR.	Management	For	For
		LEON G. COOPERMAN	Management	For	For
		R. GLENN HUBBARD	Management	For	For
		ANN DIBBLE JORDAN	Management	For	For
		HARVEY M. KRUEGER	Management	For	For
		FREDERIC V. MALEK	Management	For	For
		HENRY TAUB	Management	For	For
		ARTHUR F. WEINBACH	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	12,700	12,700	11/01/2004
MICROSOFT CORPORATION			MSFT		Annual Meeting Date: 11/09/2004
Issuer: 594918		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM H. GATES III	Management	For	For
		STEVEN A. BALLMER	Management	For	For
		JAMES I. CASH JR.	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		A. MCLAUGHLIN KOROLOGOS	Management	For	For
		DAVID F. MARQUARDT	Management	For	For
		CHARLES H. NOSKI	Management	For	For
		HELMUT PANKE	Management	For	For
		JON A. SHIRLEY	Management	For	For
02	AMEND STOCK OPTION PLAN		Management	For	For	No
03	AMEND NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
04	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	118,000	118,000	11/01/2004
SUN MICROSYSTEMS, INC.			SUNW		Annual Meeting Date: 11/10/2004
Issuer: 866810		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		SCOTT G. MCNEALY	Management	For	For
		JAMES L. BARKSDALE	Management	For	For
		STEPHEN M. BENNETT	Management	For	For
		L. JOHN DOERR	Management	For	For
		ROBERT J. FISHER	Management	For	For
		MICHAEL E. LEHMAN	Management	For	For
		M. KENNETH OSHMAN	Management	For	For
		NAOMI O. SELIGMAN	Management	For	For
		LYNN E. TURNER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	48,100	48,100	11/01/2004
CISCO SYSTEMS, INC.			CSCO		Annual Meeting Date: 11/18/2004
Issuer: 17275R		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CAROL A. BARTZ	Management	For	For
		M. MICHELE BURNS	Management	For	For
		LARRY R. CARTER	Management	For	For
		JOHN T. CHAMBERS	Management	For	For
		DR. JAMES F. GIBBONS	Management	For	For
		DR. JOHN L. HENNESSY	Management	For	For
		RODERICK C. MCGEARY	Management	For	For
		JAMES C. MORGAN	Management	For	For
		JOHN P. MORGRIDGE	Management	For	For
		DONALD T. VALENTINE	Management	For	For
		STEVEN M. WEST	Management	For	For
		JERRY YANG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	84,500	84,500	11/08/2004
EL PASO CORPORATION			EP		Annual Meeting Date: 11/18/2004
Issuer: 28336L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN M. BISSELL	Management	For	For
		JUAN CARLOS BRANIFF	Management	For	For
		JAMES L. DUNLAP	Management	For	For
		DOUGLAS L. FOSHEE	Management	For	For
		ROBERT W. GOLDMAN	Management	For	For
		ANTHONY W. HALL, JR.	Management	For	For
		THOMAS R. HIX	Management	For	For
		WILLIAM H. JOYCE	Management	For	For
		RONALD L. KUEHN, JR.	Management	For	For
		J. MICHAEL TALBERT	Management	For	For
		JOHN L. WHITMIRE	Management	For	For
		JOE B. WYATT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	30,400	30,400	11/08/2004
MAXIM INTEGRATED PRODUCTS, INC.			MXIM		Annual Meeting Date: 11/18/2004
Issuer: 57772K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES R. BERGMAN	Management	For	For
		JOHN F. GIFFORD	Management	For	For
		B. KIPLING HAGOPIAN	Management	For	For
		M.D. SAMPELS	Management	For	For
		A.R. FRANK WAZZAN	Management	For	For
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	3,400	3,400	11/08/2004
MICRON TECHNOLOGY, INC.			MU		Annual Meeting Date: 11/18/2004
Issuer: 595112		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		STEVEN R. APPLETON	Management	For	For
		JAMES W. BAGLEY	Management	For	For
		RONALD C. FOSTER	Management	For	For
		ROBERT A. LOTHROP	Management	For	For
		THOMAS T. NICHOLSON	Management	For	For
		GORDON C. SMITH	Management	For	For
		WILLIAM P. WEBER	Management	For	For
02	AMEND STOCK PURCHASE PLAN		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN TO INCREASE		Management	For	For	No
	SHARES
04	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	6,300	6,300	11/08/2004
INTUIT INC.			INTU		Annual Meeting Date: 12/09/2004
Issuer: 461202		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		STEPHEN M. BENNETT	Management	For	For
		CHRISTOPHER W. BRODY	Management	For	For
		WILLIAM V. CAMPBELL	Management	For	For
		SCOTT D. COOK	Management	For	For
		L. JOHN DOERR	Management	For	For
		DONNA L. DUBINSKY	Management	For	For
		MICHAEL R. HALLMAN	Management	For	For
		DENNIS D. POWELL	Management	For	For
		STRATTON D. SCLAVOS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	3,100	3,100	11/22/2004
JABIL CIRCUIT, INC.			JBL		Annual Meeting Date: 01/20/2005
Issuer: 466313		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM D. MOREAN	Management	For	For
		THOMAS A. SANSONE	Management	For	For
		TIMOTHY L. MAIN	Management	For	For
		LAWRENCE J. MURPHY	Management	For	For
		MEL S. LAVITT	Management	For	For
		STEVEN A. RAYMUND	Management	For	For
		FRANK A. NEWMAN	Management	For	For
		LAURENCE S. GRAFSTEIN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	4,000	4,000	01/14/2005
THE WALT DISNEY COMPANY			DIS		Annual Meeting Date: 02/11/2005
Issuer: 254687		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. BRYSON	Management	For	For
		JOHN S. CHEN	Management	For	For
		MICHAEL D. EISNER	Management	For	For
		JUDITH L. ESTRIN	Management	For	For
		ROBERT A. IGER	Management	For	For
		FRED H. LANGHAMMER	Management	For	For
		AYLWIN B. LEWIS	Management	For	For
		MONICA C. LOZANO	Management	For	For
		ROBERT W. MATSCHULLAT	Management	For	For
		GEORGE J. MITCHELL	Management	For	For
		LEO J. O'DONOVAN, S.J.	Management	For	For
		GARY L. WILSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - THIRD WORLD ISSUES		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	67,000	67,000	02/07/2005
AGILENT TECHNOLOGIES, INC.			A		Annual Meeting Date: 03/01/2005
Issuer: 00846U		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HEIDI KUNZ	Management	For	For
		DAVID M. LAWRENCE, M.D.	Management	For	For
		A. BARRY RAND	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	INCENTIVE STOCK OPTIONS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	4,800	4,800	02/24/2005
ANALOG DEVICES, INC.			ADI		Annual Meeting Date: 03/08/2005
Issuer: 032654		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN L. DOYLE	Management	For	For
		CHRISTINE KING	Management	For	For
		RAY STATA	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	105	3,900	3,900	03/02/2005
MORGAN STANLEY			MWD		Annual Meeting Date: 03/15/2005
Issuer: 617446		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. JACOB	Management	For	For
		CHARLES F. KNIGHT	Management	For	For
		MILES L. MARSH	Management	For	For
		LAURA D'ANDREA TYSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	CLASSIFY/STAGGER BOARD OF DIRECTORS		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	448	51,000	51,000	03/09/2005
HEWLETT-PACKARD COMPANY			HPQ		Annual Meeting Date: 03/16/2005
Issuer: 428236		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		L.T. BABBIO, JR.	Management	For	For
		P.C. DUNN	Management	For	For
		R.A. HACKBORN	Management	For	For
		G.A. KEYWORTH II	Management	For	For
		R.E. KNOWLING, JR.	Management	For	For
		T.J. PERKINS	Management	For	For
		R.L. RYAN	Management	For	For
		L.S. SALHANY	Management	For	For
		R.P. WAYMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	37,000	37,000	03/10/2005
SEMPRA ENERGY			SRE		Annual Meeting Date: 04/05/2005
Issuer: 816851		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		RICHARD A. COLLATO	Management	For	For
		DENISE K. FLETCHER	Management	For	For
		WILLIAM C. RUSNACK	Management	For	For
		WILLIAM P. RUTLEDGE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - RESCIND OR ALLOW SHAREHOLDER TO		Shareholder	Against	For	No
	RATIFY POISON PILL
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	9,200	9,200	03/31/2005
BECKMAN COULTER, INC.			BEC		Annual Meeting Date: 04/07/2005
Issuer: 075811		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HUGH K. COBLE	Management	For	For
		KEVIN M. FARR	Management	For	For
		VAN B. HONEYCUTT	Management	For	For
		BETTY WOODS	Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	22,500	22,500	04/04/2005
SCHLUMBERGER LIMITED (SCHLUMBERGER N			SLB		Annual Meeting Date: 04/13/2005
Issuer: 806857		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J. DEUTCH	Management	For	For
		J.S. GORELICK	Management	For	For
		A. GOULD	Management	For	For
		T. ISAAC	Management	For	For
		A. LAJOUS	Management	For	For
		A. LEVY-LANG	Management	For	For
		M.E. MARKS	Management	For	For
		D. PRIMAT	Management	For	For
		T.I. SANDVOLD	Management	For	For
		N. SEYDOUX	Management	For	For
		L.G. STUNTZ	Management	For	For
		R. TALWAR	Management	For	For
02	DIVIDEND		Management	For	For	No
3A	APPROVE ARTICLE AMENDMENTS		Management	For	For	No
3B	APPROVE ARTICLE AMENDMENTS		Management	For	For	No
4	ADOPT STOCK OPTION PLAN		Management	For	For	No
5	AMEND STOCK PURCHASE PLAN		Management	For	For	No
6	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	108	13,100	13,100	04/08/2005
BP P.L.C.			BP		Annual Meeting Date: 04/14/2005
Issuer: 055622		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DR D C ALLEN**	Management	For	For
		LORD BROWNE**	Management	For	For
		MR J H  BRYAN**	Management	For	For
		MR A  BURGMANS**	Management	For	For
		MR I C  CONN*	Management	For	For
		MR E B  DAVIS, JR**	Management	For	For
		MR D J  FLINT*	Management	For	For
		DR B E  GROTE**	Management	For	For
		DR A B  HAYWARD**	Management	For	For
		DR D S  JULIUS**	Management	For	For
		SIR TOM MCKILLOP*	Management	For	For
		MR J A  MANZONI**	Management	For	For
		DR W E  MASSEY**	Management	For	For
		MR H M P  MILES**	Management	For	For
		SIR IAN PROSSER**	Management	For	For
		MR M H WILSON**	Management	For	For
		MR P D SUTHERLAND**	Management	For	For
02	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	For	No
03	ALLOT SECURITIES		Management	For	For	No
04	ALLOT SECURITIES		Management	For	For	No
05	AUTHORIZE DIRECTORS TO REPURCHASE SHARES		Management	For	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
07	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
08	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	27,400	27,400	04/04/2005
GENENTECH, INC.			DNA		Annual Meeting Date: 04/14/2005
Issuer: 368710		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HERBERT W. BOYER	Management	For	For
		WILLIAM M. BURNS	Management	For	For
		ERICH HUNZIKER	Management	For	For
		JONATHAN K.C. KNOWLES	Management	For	For
		ARTHUR D. LEVINSON	Management	For	For
		CHARLES A. SANDERS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	406	28,000	28,000	04/11/2005
CITIGROUP INC.			C		Annual Meeting Date: 04/19/2005
Issuer: 172967		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		C. MICHAEL ARMSTRONG	Management	For	For
		ALAIN J.P. BELDA	Management	For	For
		GEORGE DAVID	Management	For	For
		KENNETH T. DERR	Management	For	For
		JOHN M. DEUTCH	Management	For	For
		R. HERNANDEZ RAMIREZ	Management	For	For
		ANN DIBBLE JORDAN	Management	For	For
		KLAUS KLEINFELD	Management	For	For
		DUDLEY C. MECUM	Management	For	For
		ANNE MULCAHY	Management	For	For
		RICHARD D. PARSONS	Management	For	For
		CHARLES PRINCE	Management	For	For
		JUDITH RODIN	Management	For	For
		ROBERT E. RUBIN	Management	For	For
		FRANKLIN A. THOMAS	Management	For	For
		SANFORD I. WEILL	Management	For	For
		ROBERT B. WILLUMSTAD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - LIMIT COMPENSATION		Shareholder	Against	For	No
05	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	74,100	74,100	04/14/2005
THE COCA-COLA COMPANY			KO		Annual Meeting Date: 04/19/2005
Issuer: 191216		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HERBERT A. ALLEN	Management	For	For
		RONALD W. ALLEN	Management	For	For
		CATHLEEN P. BLACK	Management	For	For
		WARREN E. BUFFETT	Management	For	For
		BARRY DILLER	Management	For	For
		E. NEVILLE ISDELL	Management	For	For
		DONALD R. KEOUGH	Management	For	For
		MARIA ELENA LAGOMASINO	Management	For	For
		DONALD F. MCHENRY	Management	For	For
		SAM NUNN	Management	For	For
		J. PEDRO REINHARD	Management	For	For
		JAMES D. ROBINSON III	Management	For	For
		PETER V. UEBERROTH	Management	For	For
		JAMES B. WILLIAMS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	34,300	34,300	04/14/2005
U.S. BANCORP			USB		Annual Meeting Date: 04/19/2005
Issuer: 902973		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOEL W. JOHNSON	Management	For	For
		DAVID B. O'MALEY	Management	For	For
		O'DELL M. OWENS MD, MPH	Management	For	For
		CRAIG D. SCHNUCK	Management	For	For
		WARREN R. STALEY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	SUPERMAJORITY		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	304	91,285	91,285	04/14/2005
ALLTEL CORPORATION			AT		Annual Meeting Date: 04/21/2005
Issuer: 020039		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN R. BELK	Management	For	For
		GREGORY W. PENSKE	Management	For	For
		WARREN A. STEPHENS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	14,400	14,400	04/18/2005
BROWN & BROWN, INC.			BRO		Annual Meeting Date: 04/21/2005
Issuer: 115236		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J. HYATT BROWN	Management	For	For
		SAMUEL P. BELL, III	Management	For	For
		HUGH M. BROWN	Management	For	For
		BRADLEY CURREY, JR.	Management	For	For
		JIM W. HENDERSON	Management	For	For
		THEODORE J. HOEPNER	Management	For	For
		DAVID H. HUGHES	Management	For	For
		JOHN R. RIEDMAN	Management	For	For
		JAN E. SMITH	Management	For	For
		CHILTON D. VARNER	Management	For	For
02	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	24,400	24,400	04/18/2005
PPG INDUSTRIES, INC.			PPG		Annual Meeting Date: 04/21/2005
Issuer: 693506		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHELE J. HOOPER	Management	For	For
		RAYMOND W. LEBOEUF	Management	For	For
		ROBERT MEHRABIAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	107	6,000	6,000	04/18/2005
SENSIENT TECHNOLOGIES CORPORATION			SXT		Annual Meeting Date: 04/21/2005
Issuer: 81725T		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANK BROWN	Management	For	For
		JAMES A.D. CROFT	Management	For	For
		ALBERTO FERNANDEZ	Management	For	For
02	DECLASSIFY BOARD		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	25,000	25,000	04/18/2005
TEXAS INSTRUMENTS INCORPORATED			TXN		Annual Meeting Date: 04/21/2005
Issuer: 882508		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.R. ADAMS	Management	For	For
		D.L. BOREN	Management	For	For
		D.A. CARP	Management	For	For
		C.S. COX	Management	For	For
		T.J. ENGIBOUS	Management	For	For
		G.W. FRONTERHOUSE	Management	For	For
		D.R. GOODE	Management	For	For
		P.H. PATSLEY	Management	For	For
		W.R. SANDERS	Management	For	For
		R.J. SIMMONS	Management	For	For
		R.K. TEMPLETON	Management	For	For
		C.T. WHITMAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT STOCK PURCHASE PLAN		Management	For	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	31,100	31,100	04/18/2005
WYETH			WYE		Annual Meeting Date: 04/21/2005
Issuer: 983024		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		R.L. CARRION	Management	For	For
		R. ESSNER	Management	For	For
		J.D. FEERICK	Management	For	For
		F.D. FERGUSSON	Management	For	For
		R. LANGER	Management	For	For
		J.P. MASCOTTE	Management	For	For
		M.L. POLAN	Management	For	For
		I.G. SEIDENBERG	Management	For	For
		W.V. SHIPLEY	Management	For	For
		J.R. TORELL III	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
07	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	10,400	10,400	04/18/2005
DOMINION RESOURCES, INC.			D		Annual Meeting Date: 04/22/2005
Issuer: 25746U		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		PETER W. BROWN	Management	For	For
		RONALD J. CALISE	Management	For	For
		THOS. E. CAPPS	Management	For	For
		GEORGE A. DAVIDSON, JR.	Management	For	For
		THOMAS F. FARRELL, II	Management	For	For
		JOHN W. HARRIS	Management	For	For
		ROBERT S. JEPSON, JR.	Management	For	For
		MARK J. KINGTON	Management	For	For
		BENJAMIN J. LAMBERT III	Management	For	For
		RICHARD L. LEATHERWOOD	Management	For	For
		MARGARET A. MCKENNA	Management	For	For
		KENNETH A. RANDALL	Management	For	For
		FRANK S. ROYAL	Management	For	For
		S. DALLAS SIMMONS	Management	For	For
		DAVID A. WOLLARD	Management	For	For
02	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	3,800	3,800	04/19/2005
ELECTRONIC DATA SYSTEMS CORPORATION			EDS		Annual Meeting Date: 04/22/2005
Issuer: 285661		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		W. ROY DUNBAR	Management	For	For
		MICHAEL H. JORDAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	DECLASSIFY BOARD		Management	For	For	No
04	SUPERMAJORITY		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	10,900	10,900	04/19/2005
BELLSOUTH CORPORATION			BLS		Annual Meeting Date: 04/25/2005
Issuer: 079860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		F. DUANE ACKERMAN	Management	For	For
		REUBEN V. ANDERSON	Management	For	For
		JAMES H. BLANCHARD	Management	For	For
		J. HYATT BROWN	Management	For	For
		ARMANDO M. CODINA	Management	For	For
		KATHLEEN F. FELDSTEIN	Management	For	For
		JAMES P. KELLY	Management	For	For
		LEO F. MULLIN	Management	For	For
		WILLIAM S. STAVROPOULOS	Management	For	For
		ROBIN B. SMITH	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	32,500	32,500	04/20/2005
HONEYWELL INTERNATIONAL INC.			HON		Annual Meeting Date: 04/25/2005
Issuer: 438516		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MARSHALL N. CARTER	Management	For	For
		DAVID M. COTE	Management	For	For
		BRADLEY T. SHEARES	Management	For	For
		JOHN R. STAFFORD	Management	For	For
		MICHAEL W. WRIGHT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	DECLASSIFY BOARD		Management	For	For	No
04	SUPERMAJORITY		Management	For	For	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	47,700	47,700	04/20/2005
INTERNATIONAL BUSINESS MACHINES CORP			IBM		Annual Meeting Date: 04/26/2005
Issuer: 459200		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		C. BLACK	Management	For	For
		K.I. CHENAULT	Management	For	For
		J. DORMANN	Management	For	For
		M.L. ESKEW	Management	For	For
		C. GHOSN	Management	For	For
		C.F. KNIGHT	Management	For	For
		M. MAKIHARA	Management	For	For
		L.A. NOTO	Management	For	For
		S.J. PALMISANO	Management	For	For
		J.E. SPERO	Management	For	For
		S. TAUREL	Management	For	For
		C.M. VEST	Management	For	For
		L.H. ZAMBRANO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
07	S/H PROPOSAL - INCREASE DISCLOSURE OF EXECUTIVE		Shareholder	Against	For	No
	COMPENSATION
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	18,400	18,400	04/21/2005
MERCK & CO., INC.			MRK		Annual Meeting Date: 04/26/2005
Issuer: 589331		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROCHELLE B. LAZARUS	Management	For	For
		WILLIAM G. BOWEN	Management	For	For
		RAYMOND V. GILMARTIN	Management	For	For
		THOMAS E. SHENK	Management	For	For
		ANNE M. TATLOCK	Management	For	For
		SAMUEL O. THIER	Management	For	For
		WENDELL P. WEEKS	Management	For	For
		PETER C. WENDELL	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
09	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	107	26,700	26,700	04/21/2005
THE PNC FINANCIAL SERVICES GROUP, IN			PNC		Annual Meeting Date: 04/26/2005
Issuer: 693475		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MR. CHELLGREN	Management	For	For
		MR. CLAY	Management	For	For
		MR. COOPER	Management	For	For
		MR. DAVIDSON	Management	For	For
		MR. KELSON	Management	For	For
		MR. LINDSAY	Management	For	For
		MR. MASSARO	Management	For	For
		MR. O'BRIEN	Management	For	For
		MS. PEPPER	Management	For	For
		MR. ROHR	Management	For	For
		MS. STEFFES	Management	For	For
		MR. STRIGL	Management	For	For
		MR. THIEKE	Management	For	For
		MR. USHER	Management	For	For
		MR. WASHINGTON	Management	For	For
		MR. WEHMEIER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	105	30,000	30,000	04/21/2005
WELLS FARGO & COMPANY			WFC		Annual Meeting Date: 04/26/2005
Issuer: 949746		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.A. BLANCHARD III	Management	For	For
		SUSAN E. ENGEL	Management	For	For
		ENRIQUE HERNANDEZ, JR.	Management	For	For
		ROBERT L. JOSS	Management	For	For
		REATHA CLARK KING	Management	For	For
		RICHARD M. KOVACEVICH	Management	For	For
		RICHARD D. MCCORMICK	Management	For	For
		CYNTHIA H. MILLIGAN	Management	For	For
		PHILIP J. QUIGLEY	Management	For	For
		DONALD B. RICE	Management	For	For
		JUDITH M. RUNSTAD	Management	For	For
		STEPHEN W. SANGER	Management	For	For
		SUSAN G. SWENSON	Management	For	For
		MICHAEL W. WRIGHT	Management	For	For
02	AMEND LONG TERM INCENTIVE PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	40,000	40,000	04/21/2005
ANHEUSER-BUSCH COMPANIES, INC.			BUD		Annual Meeting Date: 04/27/2005
Issuer: 035229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN E. JACOB	Management	For	For
		CHARLES F. KNIGHT	Management	For	For
		JOYCE M. ROCHE	Management	For	For
		HENRY HUGH SHELTON	Management	For	For
		PATRICK T. STOKES	Management	For	For
02	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	19,000	19,000	04/22/2005
BANK OF AMERICA CORPORATION			BAC		Annual Meeting Date: 04/27/2005
Issuer: 060505		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM BARNET, III	Management	For	For
		CHARLES W. COKER	Management	For	For
		JOHN T. COLLINS	Management	For	For
		GARY L. COUNTRYMAN	Management	For	For
		PAUL FULTON	Management	For	For
		CHARLES K. GIFFORD	Management	For	For
		W. STEVEN JONES	Management	For	For
		KENNETH D. LEWIS	Management	For	For
		WALTER E. MASSEY	Management	For	For
		THOMAS J. MAY	Management	For	For
		PATRICIA E. MITCHELL	Management	For	For
		EDWARD L. ROMERO	Management	For	For
		THOMAS M. RYAN	Management	For	For
		O. TEMPLE SLOAN, JR.	Management	For	For
		MEREDITH R. SPANGLER	Management	For	For
		ROBERT L. TILLMAN	Management	For	For
		JACKIE M. WARD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	60,000	60,000	04/22/2005
CHEVRONTEXACO CORPORATION			CVX		Annual Meeting Date: 04/27/2005
Issuer: 166764		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		S.H. ARMACOST	Management	For	For
		R.E. DENHAM	Management	For	For
		R.J. EATON	Management	For	For
		S. GINN	Management	For	For
		C.A. HILLS	Management	For	For
		F.G. JENIFER	Management	For	For
		S. NUNN	Management	For	For
		D.J. O'REILLY	Management	For	For
		P.J. ROBERTSON	Management	For	For
		C.R. SHOEMATE	Management	For	For
		R.D. SUGAR	Management	For	For
		C. WARE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
06	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	28,600	28,600	04/22/2005
E. I. DU PONT DE NEMOURS AND COMPANY			DD		Annual Meeting Date: 04/27/2005
Issuer: 263534		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		A.J.P. BELDA	Management	For	For
		R.H. BROWN	Management	For	For
		C.J. CRAWFORD	Management	For	For
		J.T. DILLON	Management	For	For
		L.C. DUEMLING	Management	For	For
		C.O. HOLLIDAY, JR.	Management	For	For
		L.D. JULIBER	Management	For	For
		M. NAITOH	Management	For	For
		W.K. REILLY	Management	For	For
		H.R. SHARP, III	Management	For	For
		C.M. VEST	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
07	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
09	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	11,200	11,200	04/22/2005
GENERAL ELECTRIC COMPANY			GE		Annual Meeting Date: 04/27/2005
Issuer: 369604		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
A	ELECTION OF DIRECTORS		Management	For		No
		JAMES I. CASH, JR.	Management	For	For
		WILLIAM M. CASTELL	Management	For	For
		DENNIS D. DAMMERMAN	Management	For	For
		ANN M. FUDGE	Management	For	For
		CLAUDIO X. GONZALEZ	Management	For	For
		JEFFREY R. IMMELT	Management	For	For
		ANDREA JUNG	Management	For	For
		ALAN G. LAFLEY	Management	For	For
		RALPH S. LARSEN	Management	For	For
		ROCHELLE B. LAZARUS	Management	For	For
		SAM NUNN	Management	For	For
		ROGER S. PENSKE	Management	For	For
		ROBERT J. SWIERINGA	Management	For	For
		DOUGLAS A. WARNER III	Management	For	For
		ROBERT C. WRIGHT	Management	For	For
B	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
01	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
02	S/H - RESEARCH RENEWABLE ENERGY		Shareholder	Against	For	No
03	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	110,200	110,200	04/22/2005
THE STANLEY WORKS			SWK		Annual Meeting Date: 04/27/2005
Issuer: 854616		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		STILLMAN B. BROWN	Management	For	For
		EMMANUEL A. KAMPOURIS	Management	For	For
		KATHRYN D. WRISTON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder			No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	19,600	19,600	04/22/2005
CEMEX, S.A. DE C.V.			CX		Annual Meeting Date: 04/28/2005
Issuer: 151290		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
A1	RECEIVE CONSOLIDATED FINANCIAL STATEMENTS		Management	For	For	No
A2	MISCELLANEOUS SHAREHOLDER EQUITY - GLOBAL		Management	For	For	No
A3	APPROVE ALLOTMENT OF EQUITY SECURITIES		Management	For	For	No
A4	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
A5	APPOINT AUDITORS		Management	For	For	No
A6	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
S1	APPROVE REVERSE STOCK SPLIT		Management	For	For	No
S2	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	889	10,600	10,600	04/20/2005
JOHNSON & JOHNSON			JNJ		Annual Meeting Date: 04/28/2005
Issuer: 478160		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MARY S. COLEMAN	Management	For	For
		JAMES G. CULLEN	Management	For	For
		ROBERT J. DARRETTA	Management	For	For
		MICHAEL M. E. JOHNS	Management	For	For
		ANN D. JORDAN	Management	For	For
		ARNOLD G. LANGBO	Management	For	For
		SUSAN L. LINDQUIST	Management	For	For
		LEO F. MULLIN	Management	For	For
		CHRISTINE A. POON	Management	For	For
		STEVEN S REINEMUND	Management	For	For
		DAVID SATCHER	Management	For	For
		WILLIAM C. WELDON	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	38,500	38,500	04/25/2005
KIMBERLY-CLARK CORPORATION			KMB		Annual Meeting Date: 04/28/2005
Issuer: 494368		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN F. BERGSTROM	Management	For	For
		ROBERT W. DECHERD	Management	For	For
		G. CRAIG SULLIVAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	14,800	14,800	04/25/2005
PFIZER INC.			PFE		Annual Meeting Date: 04/28/2005
Issuer: 717081		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL S. BROWN	Management	For	For
		M. ANTHONY BURNS	Management	For	For
		ROBERT N. BURT	Management	For	For
		W. DON CORNWELL	Management	For	For
		WILLIAM H. GRAY III	Management	For	For
		CONSTANCE J. HORNER	Management	For	For
		WILLIAM R. HOWELL	Management	For	For
		STANLEY O. IKENBERRY	Management	For	For
		GEORGE A. LORCH	Management	For	For
		HENRY A. MCKINNELL	Management	For	For
		DANA G. MEAD	Management	For	For
		RUTH J. SIMMONS	Management	For	For
		WILLIAM C. STEERE, JR.	Management	For	For
		JEAN-PAUL VALLES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
06	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
08	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	88,040	88,040	04/25/2005
MOTOROLA, INC.			MOT		Annual Meeting Date: 05/02/2005
Issuer: 620076		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		E. ZANDER	Management	For	For
		H.L. FULLER	Management	For	For
		J. LEWENT	Management	For	For
		W. MASSEY	Management	For	For
		T. MEREDITH	Management	For	For
		N. NEGROPONTE	Management	For	For
		I. NOOYI	Management	For	For
		S. SCOTT III	Management	For	For
		R. SOMMER	Management	For	For
		J. STENGEL	Management	For	For
		D. WARNER III	Management	For	For
		J. WHITE	Management	For	For
02	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	61,700	61,700	04/27/2005
THE BOEING COMPANY			BA		Annual Meeting Date: 05/02/2005
Issuer: 097023		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		KENNETH M. DUBERSTEIN	Management	For	For
		W. JAMES MCNERNEY, JR.	Management	For	For
		LEWIS E. PLATT	Management	For	For
		MIKE S. ZAFIROVSKI	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - HUMAN RIGHTS RELATED		Shareholder	Against	For	No
04	S/H PROPOSAL - MILITARY/WEAPONS		Shareholder	Against	For	No
05	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
08	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
09	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	105	28,000	28,000	04/27/2005
ZIMMER HOLDINGS, INC.			ZMH		Annual Meeting Date: 05/02/2005
Issuer: 98956P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J. RAYMOND ELLIOTT	Management	For	For
02	AMEND STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	3,740	3,740	04/27/2005
AMERICAN STANDARD COMPANIES INC.			ASD		Annual Meeting Date: 05/03/2005
Issuer: 029712		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JARED L. COHON	Management	For	For
		PAUL J. CURLANDER	Management	For	For
		FREDERIC M. POSES	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	23,400	23,400	04/28/2005
BRISTOL-MYERS SQUIBB COMPANY			BMY		Annual Meeting Date: 05/03/2005
Issuer: 110122		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		V.D. COFFMAN	Management	For	For
		J.M. CORNELIUS	Management	For	For
		P.R. DOLAN	Management	For	For
		E.V. FUTTER	Management	For	For
		L.V. GERSTNER, JR.	Management	For	For
		L. JOHANSSON	Management	For	For
		L.W. SULLIVAN, M.D.	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	APPROVE CHARTER AMENDMENT		Management	For	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
05	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
06	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	108	17,400	17,400	04/28/2005
FAIRMONT HOTELS & RESORTS INC.			FHR		Special Meeting Date: 05/03/2005
Issuer: 305204		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		STEPHEN E. BACHAND	Management	For	For
		TERENCE P. BADOUR	Management	For	For
		WILLIAM R. FATT	Management	For	For
		PETER C. GODSOE	Management	For	For
		MICHAEL J. KOWALSKI	Management	For	For
		DAVID P. O'BRIEN	Management	For	For
		KAREN M. ROSE	Management	For	For
		JOHN L. SHARPE	Management	For	For
		L. PETER SHARPE	Management	For	For
		ROBERT S. SINGER	Management	For	For
02	APPOINT AUDITORS		Management	For	For	No
03	SHAREHOLDER RIGHTS PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	8,950	8,950	04/26/2005
THE ST. PAUL TRAVELERS COMPANIES, IN			STA		Annual Meeting Date: 05/03/2005
Issuer: 792860		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN H. DASBURG	Management	For	For
		LESLIE B. DISHAROON	Management	For	For
		JANET M. DOLAN	Management	For	For
		KENNETH M. DUBERSTEIN	Management	For	For
		JAY S. FISHMAN	Management	For	For
		LAWRENCE G. GRAEV	Management	For	For
		THOMAS R. HODGSON	Management	For	For
		ROBERT I. LIPP	Management	For	For
		BLYTHE J. MCGARVIE	Management	For	For
		GLEN D. NELSON, MD	Management	For	For
		CLARENCE OTIS, JR.	Management	For	For
		CHARLES W. SCHARF	Management	For	For
		LAURIE J. THOMSEN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	108	4,237	4,237	04/28/2005
DANAHER CORPORATION			DHR		Annual Meeting Date: 05/04/2005
Issuer: 235851		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		H. LAWRENCE CULP, JR.	Management	For	For
		MITCHELL P. RALES	Management	For	For
		A. EMMET STEPHENSON JR	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	24,400	24,400	04/28/2005
PEPSICO, INC.			PEP		Annual Meeting Date: 05/04/2005
Issuer: 713448		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.F. AKERS	Management	For	For
		R.E. ALLEN	Management	For	For
		R.L. HUNT	Management	For	For
		A.C. MARTINEZ	Management	For	For
		I.K. NOOYI	Management	For	For
		S.S REINEMUND	Management	For	For
		S.P. ROCKEFELLER	Management	For	For
		J.J. SCHIRO	Management	For	For
		F.A. THOMAS	Management	For	For
		C.M. TRUDELL	Management	For	For
		S.D. TRUJILLO	Management	For	For
		D. VASELLA	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	108	20,000	20,000	04/28/2005
EMC CORPORATION			EMC		Annual Meeting Date: 05/05/2005
Issuer: 268648		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL J. CRONIN	Management	For	For
		W. PAUL FITZGERALD	Management	For	For
		JOSEPH M. TUCCI	Management	For	For
02	AMEND STOCK OPTION PLAN TO INCREASE SHARES		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	61,500	61,500	05/02/2005
STARWOOD HOTELS & RESORTS WORLDWIDE,			HOT		Annual Meeting Date: 05/05/2005
Issuer: 85590A		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		BARSHEFSKY	Management	For	For
		CHAPUS	Management	For	For
		DUNCAN	Management	For	For
		HEYER	Management	For	For
		HIPPEAU	Management	For	For
		QUAZZO	Management	For	For
		RYDER	Management	For	For
		STERNLICHT	Management	For	For
		YIH	Management	For	For
		YOUNGBLOOD	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H - EXPENSING OF STOCK OPTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	203	21,700	21,700	05/02/2005
VERIZON COMMUNICATIONS INC.			VZ		Annual Meeting Date: 05/05/2005
Issuer: 92343V		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		J.R. BARKER	Management	For	For
		R.L. CARRION	Management	For	For
		R.W. LANE	Management	For	For
		S.O. MOOSE	Management	For	For
		J. NEUBAUER	Management	For	For
		T.H. O'BRIEN	Management	For	For
		H.B. PRICE	Management	For	For
		I.G. SEIDENBERG	Management	For	For
		W.V. SHIPLEY	Management	For	For
		J.R. STAFFORD	Management	For	For
		R.D. STOREY	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
07	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
08	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	104	16,400	16,400	05/02/2005
WISCONSIN ENERGY CORPORATION			WEC		Annual Meeting Date: 05/05/2005
Issuer: 976657		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN F. AHEARNE	Management	For	For
		JOHN F. BERGSTROM	Management	For	For
		BARBARA L. BOWLES	Management	For	For
		ROBERT A. CORNOG	Management	For	For
		CURT S. CULVER	Management	For	For
		GALE E. KLAPPA	Management	For	For
		ULICE PAYNE, JR.	Management	For	For
		F.P. STRATTON, JR.	Management	For	For
		GEORGE E. WARDEBERG	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	18,400	18,400	05/02/2005
ILLINOIS TOOL WORKS INC.			ITW		Annual Meeting Date: 05/06/2005
Issuer: 452308		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		WILLIAM F. ALDINGER	Management	For	For
		MICHAEL J. BIRCK	Management	For	For
		MARVIN D. BRAILSFORD	Management	For	For
		SUSAN CROWN	Management	For	For
		DON H. DAVIS, JR.	Management	For	For
		W. JAMES FARRELL	Management	For	For
		ROBERT C. MCCORMACK	Management	For	For
		ROBERT S. MORRISON	Management	For	For
		HAROLD B. SMITH	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	8,300	8,300	05/03/2005
3M COMPANY			MMM		Annual Meeting Date: 05/10/2005
Issuer: 88579Y		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		VANCE D. COFFMAN	Management	For	For
		ROZANNE L. RIDGWAY	Management	For	For
		LOUIS W. SULLIVAN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT NON-QUALIFIED STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - ANIMAL RIGHTS		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	10,400	10,400	05/05/2005
INTERNATIONAL PAPER COMPANY			IP		Annual Meeting Date: 05/10/2005
Issuer: 460146		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROBERT M. AMEN*	Management	For	For
		SAMIR G. GIBARA*	Management	For	For
		CHARLES R. SHOEMATE*	Management	For	For
		WILLIAM G. WALTER**	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	6,900	6,900	05/05/2005
KINDER MORGAN, INC.			KMI		Annual Meeting Date: 05/10/2005
Issuer: 49455P		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL C. MORGAN	Management	For	For
		STEWART A. BLISS	Management	For	For
		EDWARD RANDALL, III	Management	For	For
02	APPROVE AUTHORIZED COMMON STOCK INCREASE		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
05	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	4,800	4,800	05/05/2005
AMGEN INC.			AMGN		Annual Meeting Date: 05/11/2005
Issuer: 031162		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DR. DAVID BALTIMORE	Management	For	For
		MS. JUDITH C. PELHAM	Management	For	For
		MR. KEVIN W. SHARER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03A	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
03B	S/H PROPOSAL - HEALTH ISSUES		Shareholder	Against	For	No
03C	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	17,900	17,900	05/06/2005
NEWELL RUBBERMAID INC.			NWL		Annual Meeting Date: 05/11/2005
Issuer: 651229		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL T. COWHIG	Management	For	For
		MARK D. KETCHUM	Management	For	For
		WILLIAM D. MAROHN	Management	For	For
		RAYMOND G. VIAULT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - REPORT ON EMPLOYEES EARNING OVER		Shareholder	Against	For	No
	$100,000
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	19,100	19,100	05/06/2005
ANADARKO PETROLEUM CORPORATION			APC		Annual Meeting Date: 05/12/2005
Issuer: 032511		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN R. BUTLER, JR.	Management	For	For
		PRESTON M. GEREN III	Management	For	For
		JOHN R. GORDON	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	107	10,600	10,600	05/09/2005
THE DOW CHEMICAL COMPANY			DOW		Annual Meeting Date: 05/12/2005
Issuer: 260543		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JACQUELINE K. BARTON	Management	For	For
		ANTHONY J. CARBONE	Management	For	For
		BARBARA H. FRANKLIN	Management	For	For
		ANDREW N. LIVERIS	Management	For	For
		HAROLD T. SHAPIRO	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	15,500	15,500	05/09/2005
WASTE MANAGEMENT, INC.			WMI		Annual Meeting Date: 05/13/2005
Issuer: 94106L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		PASTORA S.J. CAFFERTY	Management	For	For
		FRANK M. CLARK, JR.	Management	For	For
		ROBERT S. MILLER	Management	For	For
		JOHN C. POPE	Management	For	For
		W. ROBERT REUM	Management	For	For
		STEVEN G. ROTHMEIER	Management	For	For
		DAVID P. STEINER	Management	For	For
		THOMAS H. WEIDEMEYER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	18,600	18,600	05/10/2005
WATSON PHARMACEUTICALS, INC.			WPI		Annual Meeting Date: 05/13/2005
Issuer: 942683		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL J. FEDIDA	Management	For	For
		ALBERT F. HUMMEL	Management	For	For
		CATHERINE M. KLEMA	Management	For	For
02	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	14,000	14,000	05/10/2005
WEATHERFORD INTERNATIONAL LTD.			WFT		Annual Meeting Date: 05/13/2005
Issuer: G95089		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		NICHOLAS F. BRADY	Management	For	For
		DAVID J. BUTTERS	Management	For	For
		BERNARD J. DUROC-DANNER	Management	For	For
		SHELDON B. LUBAR	Management	For	For
		WILLIAM E. MACAULAY	Management	For	For
		ROBERT B. MILLARD	Management	For	For
		ROBERT K. MOSES, JR.	Management	For	For
		ROBERT A. RAYNE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	5,600	5,600	05/10/2005
LIMITED BRANDS, INC.			LTD		Annual Meeting Date: 05/16/2005
Issuer: 532716		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		DONNA A. JAMES	Management	For	For
		LEONARD A. SCHLESINGER	Management	For	For
		JEFFREY B. SWARTZ	Management	For	For
		RAYMOND ZIMMERMAN	Management	For	For
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	107	39,300	39,300	05/11/2005
JPMORGAN CHASE & CO.			JPM		Annual Meeting Date: 05/17/2005
Issuer: 46625H		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANS W. BECHERER	Management	For	For
		JOHN H. BIGGS	Management	For	For
		LAWRENCE A. BOSSIDY	Management	For	For
		STEPHEN B. BURKE	Management	For	For
		JAMES S. CROWN	Management	For	For
		JAMES DIMON	Management	For	For
		ELLEN V. FUTTER	Management	For	For
		WILLIAM H. GRAY III	Management	For	For
		WILLIAM B. HARRISON JR.	Management	For	For
		LABAN P. JACKSON JR.	Management	For	For
		JOHN W. KESSLER	Management	For	For
		ROBERT I. LIPP	Management	For	For
		RICHARD A. MANOOGIAN	Management	For	For
		DAVID C. NOVAK	Management	For	For
		LEE R. RAYMOND	Management	For	For
		WILLIAM C. WELDON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	55,500	55,500	05/12/2005
THE ALLSTATE CORPORATION			ALL		Annual Meeting Date: 05/17/2005
Issuer: 020002		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		F. DUANE ACKERMAN	Management	For	For
		JAMES G. ANDRESS	Management	For	For
		EDWARD A. BRENNAN	Management	For	For
		W. JAMES FARRELL	Management	For	For
		JACK M. GREENBERG	Management	For	For
		RONALD T. LEMAY	Management	For	For
		EDWARD M. LIDDY	Management	For	For
		J. CHRISTOPHER REYES	Management	For	For
		H. JOHN RILEY, JR.	Management	For	For
		JOSHUA I. SMITH	Management	For	For
		JUDITH A. SPRIESER	Management	For	For
		MARY ALICE TAYLOR	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - ADOPT CUMULATIVE VOTING		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	12,300	12,300	05/12/2005
INTEL CORPORATION			INTC		Annual Meeting Date: 05/18/2005
Issuer: 458140		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CRAIG R. BARRETT	Management	For	For
		CHARLENE BARSHEFSKY	Management	For	For
		E. JOHN P. BROWNE	Management	For	For
		D. JAMES GUZY	Management	For	For
		REED E. HUNDT	Management	For	For
		PAUL S. OTELLINI	Management	For	For
		DAVID S. POTTRUCK	Management	For	For
		JANE E. SHAW	Management	For	For
		JOHN L. THORNTON	Management	For	For
		DAVID B. YOFFIE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	73,400	73,400	05/13/2005
TARGET CORPORATION			TGT		Annual Meeting Date: 05/18/2005
Issuer: 87612E		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROXANNE S. AUSTIN	Management	For	For
		JAMES A. JOHNSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	12,600	12,600	05/13/2005
MARSH & MCLENNAN COMPANIES, INC.			MMC		Annual Meeting Date: 05/19/2005
Issuer: 571748		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		MICHAEL G. CHERKASKY	Management	For	For
		STEPHEN R. HARDIS	Management	For	For
		THE RT. HON. LORD LANG	Management	For	For
		MORTON O. SCHAPIRO	Management	For	For
		ADELE SIMMONS	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
06	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	18,000	18,000	05/16/2005
XEROX CORPORATION			XRX		Annual Meeting Date: 05/19/2005
Issuer: 984121		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		GLENN A. BRITT	Management	For	For
		RICHARD J. HARRINGTON	Management	For	For
		WILLIAM CURT HUNTER	Management	For	For
		VERNON E. JORDAN, JR.	Management	For	For
		HILMAR KOPPER	Management	For	For
		RALPH S. LARSEN	Management	For	For
		ROBERT A. MCDONALD	Management	For	For
		ANNE M. MULCAHY	Management	For	For
		N.J. NICHOLAS, JR.	Management	For	For
		ANN N. REESE	Management	For	For
		STEPHEN ROBERT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	10,100	10,100	05/16/2005
J. C. PENNEY COMPANY, INC.			JCP		Annual Meeting Date: 05/20/2005
Issuer: 708160		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		T.J. ENGIBOUS	Management	For	For
		K.B. FOSTER	Management	For	For
		L.H. ROBERTS	Management	For	For
		M.E. ULLMAN III	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
04	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	11,600	11,600	05/17/2005
SEALED AIR CORPORATION			SEE		Annual Meeting Date: 05/20/2005
Issuer: 81211K		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		HANK BROWN	Management	For	For
		MICHAEL CHU	Management	For	For
		LAWRENCE R. CODEY	Management	For	For
		T.J. DERMOT DUNPHY	Management	For	For
		CHARLES F. FARRELL, JR.	Management	For	For
		WILLIAM V. HICKEY	Management	For	For
		JACQUELINE B. KOSECOFF	Management	For	For
		KENNETH P. MANNING	Management	For	For
		WILLIAM J. MARINO	Management	For	For
02	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	12,500	12,500	05/17/2005
TIME WARNER INC.			TWX		Annual Meeting Date: 05/20/2005
Issuer: 887317		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES L. BARKSDALE	Management	For	For
		STEPHEN F. BOLLENBACH	Management	For	For
		STEPHEN M. CASE	Management	For	For
		FRANK J. CAUFIELD	Management	For	For
		ROBERT C. CLARK	Management	For	For
		JESSICA P. EINHORN	Management	For	For
		MILES R. GILBURNE	Management	For	For
		CARLA A. HILLS	Management	For	For
		REUBEN MARK	Management	For	For
		MICHAEL A. MILES	Management	For	For
		KENNETH J. NOVACK	Management	For	For
		RICHARD D. PARSONS	Management	For	For
		R.E. TURNER	Management	For	For
		FRANCIS T. VINCENT, JR.	Management	For	For
		DEBORAH C. WRIGHT	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	105	48,600	48,600	05/17/2005
UNOCAL CORPORATION			UCL		Annual Meeting Date: 05/23/2005
Issuer: 915289		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		CRAIG ARNOLD	Management	For	For
		JAMES W. CROWNOVER	Management	For	For
		DONALD B. RICE	Management	For	For
		MARK A. SUWYN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	12,500	12,500	05/18/2005
OMNICOM GROUP INC.			OMC		Annual Meeting Date: 05/24/2005
Issuer: 681919		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JOHN D. WREN	Management	For	For
		BRUCE CRAWFORD	Management	For	For
		ROBERT CHARLES CLARK	Management	For	For
		LEONARD S. COLEMAN, JR.	Management	For	For
		ERROL M. COOK	Management	For	For
		SUSAN S. DENISON	Management	For	For
		MICHAEL A. HENNING	Management	For	For
		JOHN R. MURPHY	Management	For	For
		JOHN R. PURCELL	Management	For	For
		LINDA JOHNSON RICE	Management	For	For
		GARY L. ROUBOS	Management	For	For
02	ADOPT/AMEND EXECUTIVE INCENTIVE BONUS PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	106	6,300	6,300	05/19/2005
EXXON MOBIL CORPORATION			XOM		Annual Meeting Date: 05/25/2005
Issuer: 30231G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		M.J. BOSKIN	Management	For	For
		W.W. GEORGE	Management	For	For
		J.R. HOUGHTON	Management	For	For
		W.R. HOWELL	Management	For	For
		R.C. KING	Management	For	For
		P.E. LIPPINCOTT	Management	For	For
		H.A. MCKINNELL, JR.	Management	For	For
		M.C. NELSON	Management	For	For
		L.R. RAYMOND	Management	For	For
		W.V. SHIPLEY	Management	For	For
		R.W. TILLERSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - ENVIRONMENTAL		Shareholder	Against	For	No
10	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	72,800	72,800	05/20/2005
THE SOUTHERN COMPANY			SO		Annual Meeting Date: 05/25/2005
Issuer: 842587		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		D.P. AMOS	Management	For	For
		D.J. BERN	Management	For	For
		F.S. BLAKE	Management	For	For
		T.F. CHAPMAN	Management	For	For
		B.S. GORDON	Management	For	For
		D.M. JAMES	Management	For	For
		Z.T. PATE	Management	For	For
		J.N. PURCELL	Management	For	For
		D.M. RATCLIFFE	Management	For	For
		G.J. ST. PE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	107	19,200	19,200	05/20/2005
EL PASO CORPORATION			EP		Annual Meeting Date: 05/26/2005
Issuer: 28336L		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JUAN CARLOS BRANIFF	Management	For	For
		JAMES L. DUNLAP	Management	For	For
		DOUGLAS L. FOSHEE	Management	For	For
		ROBERT W. GOLDMAN	Management	For	For
		ANTHONY W. HALL, JR.	Management	For	For
		THOMAS R. HIX	Management	For	For
		WILLIAM H. JOYCE	Management	For	For
		RONALD L. KUEHN, JR.	Management	For	For
		J. MICHAEL TALBERT	Management	For	For
		ROBERT F. VAGT	Management	For	For
		JOHN L. WHITMIRE	Management	For	For
		JOE B. WYATT	Management	For	For
02	ADOPT NON-EMPLOYEE DIRECTOR PLAN		Management	For	For	No
03	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
04	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	109	30,400	30,400	05/23/2005
THE HOME DEPOT, INC.			HD		Annual Meeting Date: 05/26/2005
Issuer: 437076		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
01	ELECTION OF DIRECTORS		Management	For		No
		GREGORY D. BRENNEMAN	Management	For	For
		RICHARD H. BROWN	Management	For	For
		JOHN L. CLENDENIN	Management	For	For
		BERRY R. COX	Management	For	For
		CLAUDIO X. GONZALEZ	Management	For	For
		MILLEDGE A. HART, III	Management	For	For
		BONNIE G. HILL	Management	For	For
		LABAN P. JACKSON, JR.	Management	For	For
		LAWRENCE R. JOHNSTON	Management	For	For
		KENNETH G. LANGONE	Management	For	For
		ROBERT L. NARDELLI	Management	For	For
		THOMAS J. RIDGE	Management	For	For
03	APPROVE CHARTER AMENDMENT		Management	For	For	No
04	ADOPT OMNIBUS STOCK OPTION PLAN		Management	For	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
08	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
09	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
10	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
11	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	13,000	13,000	05/23/2005
LOWE'S COMPANIES, INC.			LOW		Annual Meeting Date: 05/27/2005
Issuer: 548661		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		ROBERT A. INGRAM	Management	For	For
		RICHARD K. LOCHRIDGE	Management	For	For
		ROBERT L. JOHNSON	Management	For	For
02	AMEND DIRECTOR STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	107	9,700	9,700	05/24/2005
COMCAST CORPORATION			CMCSA		Annual Meeting Date: 06/01/2005
Issuer: 20030N		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		S. DECKER ANSTROM	Management	For	For
		KENNETH J. BACON	Management	For	For
		SHELDON M. BONOVITZ	Management	For	For
		EDWARD D. BREEN	Management	For	For
		JULIAN A. BRODSKY	Management	For	For
		JOSEPH L. CASTLE, II	Management	For	For
		JOSEPH J. COLLINS	Management	For	For
		J. MICHAEL COOK	Management	For	For
		BRIAN L. ROBERTS	Management	For	For
		RALPH J. ROBERTS	Management	For	For
		DR. JUDITH RODIN	Management	For	For
		MICHAEL I. SOVERN	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	ADOPT RESTRICTED STOCK AWARD PLAN		Management	For	For	No
04	S/H PROPOSAL - POLITICAL/GOVERNMENT		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
06	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
07	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	26,900	26,900	05/26/2005
INGERSOLL-RAND COMPANY LIMITED			IR		Annual Meeting Date: 06/01/2005
Issuer: G4776G		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		A.C. BERZIN	Management	For	For
		H.L. HENKEL	Management	For	For
		H.W. LICHTENBERGER	Management	For	For
		T.L. WHITE	Management	For	For
02	RATIFY SHAREHOLDER RIGHTS PLAN		Management	For	For	No
03	ELIMINATE CUMULATIVE VOTING		Management	For	For	No
04	APPOINT AUDITORS AND APPROVE REMUNERATION		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	9,100	9,100	05/26/2005
WAL-MART STORES, INC.			WMT		Annual Meeting Date: 06/03/2005
Issuer: 931142		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES W. BREYER	Management	For	For
		M. MICHELE BURNS	Management	For	For
		DOUGLAS N. DAFT	Management	For	For
		DAVID D. GLASS	Management	For	For
		ROLAND A. HERNANDEZ	Management	For	For
		JOHN D. OPIE	Management	For	For
		J. PAUL REASON	Management	For	For
		H. LEE SCOTT, JR.	Management	For	For
		JACK C. SHEWMAKER	Management	For	For
		JOSE H. VILLARREAL	Management	For	For
		JOHN T. WALTON	Management	For	For
		S. ROBSON WALTON	Management	For	For
		CHRISTOPHER J. WILLIAMS	Management	For	For
		LINDA S. WOLF	Management	For	For
02	ADOPT INCENTIVE STOCK OPTION PLAN		Management	For	For	No
03	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
06	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
07	S/H - REPORT ON CHARITABLE CONRIBUTIONS		Shareholder	Against	For	No
08	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
09	S/H PROPOSAL - PROXY PROCESS/STATEMENT		Shareholder	Against	For	No
10	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
11	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	60,000	60,000	05/31/2005
PRUDENTIAL FINANCIAL, INC.			PRU		Annual Meeting Date: 06/07/2005
Issuer: 744320		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		JAMES G. CULLEN	Management	For	For
		JAMES A. UNRUH	Management	For	For
		GORDON M. BETHUNE	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	DECLASSIFY BOARD		Management	For	For	No
04	ADOPT STOCK PURCHASE PLAN		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	102	20,100	20,100	06/02/2005
SUPERVALU INC.			SVU		Annual Meeting Date: 06/15/2005
Issuer: 868536		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		EDWIN C. GAGE	Management	For	For
		GARNETT L. KEITH JR.	Management	For	For
		MARISSA PETERSON	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	AMEND STOCK OPTION PLAN		Management	For	For	No
04	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	103	27,800	27,800	06/10/2005
BEST BUY CO., INC.			BBY		Annual Meeting Date: 06/23/2005
Issuer: 086516		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		RONALD JAMES	Management	For	For
		ELLIOT S. KAPLAN	Management	For	For
		MATTHEW H. PAULL	Management	For	For
		RICHARD M. SCHULZE	Management	For	For
		MARY A. TOLAN	Management	For	For
		HATIM A. TYABJI	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	101	10,400	10,400	06/20/2005
ROYAL DUTCH PETROLEUM COMPANY			RD		Annual Meeting Date: 06/28/2005
Issuer: 780257		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
02	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
03B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
04A	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
4B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
05	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
06	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
07	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
9B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
10	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11A	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11B	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11C	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
11D	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
12	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
13	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
14	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
15	MISCELLANEOUS CORPORATE GOVERNANCE - GLOBAL		Management	For	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	804	14,900	14,900	06/16/2005
BED BATH & BEYOND INC.			BBBY		Annual Meeting Date: 06/30/2005
Issuer: 075896		ISIN:
SEDOL:
Vote Group: GLOBAL
Proposal			Proposal	Vote	For or Against	Contrary to
Number	Proposal		Type	Cast	Mgmt.	Policy
01	ELECTION OF DIRECTORS		Management	For		No
		LEONARD FEINSTEIN	Management	For	For
		ROBERT KAPLAN	Management	For	For
		DEAN S. ADLER	Management	For	For
		JORDAN HELLER	Management	For	For
02	RATIFY APPOINTMENT OF INDEPENDENT AUDITORS		Management	For	For	No
03	MISCELLANEOUS SHAREHOLDER PROPOSAL		Shareholder	Against	For	No
04	S/H PROPOSAL - CORPORATE GOVERNANCE		Shareholder	Against	For	No
05	S/H PROPOSAL - BOARD OF DIRECTORS		Shareholder	Against	For	No
		Custodian	Stock	Ballot	Voted	Vote
	Account Name	Account	Class	Shares	Shares	Date
	SM&R GROWTH FUND INC	1856060901	100	13,900	13,900	06/27/2005
SM&R ALGER AGGRESSIVE GROWTH FUND
ABBOTT	LABORATORIES
Ticker:  ABT
Security ID:  002824100
Meeting Date:  APR 22, 2005     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director R.S. Austin		Management	For	For
1.2	Elect Director W.S. Daley		Management	For	For
1.3	Elect Director H.L. Fuller		Management	For	For
1.4	Elect Director R.A. Gonzalez		Management	For	For
1.5	Elect Director J.M. Greenberg		Management	For	For
1.6	Elect Director J.M. Leiden		Management	For	For
1.7	Elect Director D.A.L. Owen		Management	For	For
1.8	Elect Director B. Powell Jr.		Management	For	For
1.9	Elect Director A.B. Rand		Management	For	For
1.1	Elect Director W.A. Reynolds		Management	For	For
1.11	Elect Director R.S. Roberts		Management	For	For
1.12	Elect Director W.D. Smithburg		Management	For	For
1.13	Elect Director J.R. Walter		Management	For	For
1.14	Elect Director M.D. White		Management	For	For
2	Ratify Auditors		Management	For	For
3	Link Executive Compensation to Government Fines		Shareholder	Against	Against
4	Performance- Based/Indexed Opt	ions	Shareholder	For	Against
5	Eliminate Animal Testing		Shareholder	Against	Against
6	Report on Political Contributi	ons	Shareholder	Against	Against
7	Report on Operational Impact of HIV/AIDS,TB,Malaria		Shareholder	Against	Against
8	Separate Chairman and CEO Posi	tions	Shareholder	Against	Against
ABERCROMBIE & FITCH CO.
Ticker:  ANF		Security ID:  002896207
Meeting Date:  June 15, 2005  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Russell M. GerTMENIAN		Management	For	For
1.2	Elect  Director Archie M. GrifFIN		Management	For	For
1.3	Elect  Director Allan A. TuttlE		Management	For	For
2	Approve Omnibus Stock Plan		Management	Against	For
3	Ratify Auditors		Management	For	For
ACCENTURE LTD BERMUDA	URE LTD BERMUDA
Ticker:  ACN      Security ID:  G1150G111
Meeting Date:  Feb 2, 2004       Meeting Type:  Annual
Proposal
#	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Joe W. Forehan		Management	For	For
1.2	Elect  Director Blythe J. Mcgaarvia		Management	For	For
1.3	Elect  Director Sir Mark Moody		Management	For	For
2	APPROVAL OF BYE-LAW AMENDMENTS		Management	For	For
3	Ratify Auditors		Management	For	For
ACTIVISION, INC.
Ticker:  ATVI       Security ID:  004930202
Meeting Date:  Sep 21, 2004    Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert A. Koti		Management	Withhold	For
1.2	Elect  Director Brian G. Kelly		Management	Withhold	For
1.3	Elect  Director Ronald Doornin		Management	Withhold	For
1.4	Elect  Director Robert J. Cort		Management	For	For
1.5	Elect  Director Kenneth L. Henderson		Management	Withhold	For
1.6	Elect  Director Barbara S. Isgur		Management	For	For
1.7	Elect  Director Robert J. Morgado		Management	For	For
1.8	Elect  Director Peter J. Nolan		Management	For	For
2	Ratify Auditors		Management	For	For
ALPHA NATURAL RESOURCES, INC.
Ticker:  ANR     Security ID:  02076x102
Meeting Date:  Apr 27, 2005     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director E. Linn Draper		Management	For	For
1.2	Elect  Director Glenn A. Eisenberg		Management	For	For
1.3	Elect  Director John W. Fox Jr		Management	For	For
1.4	Elect  Director Alex T. Krueger		Management	Withhold	For
1.5	Elect  Director Fritz R. Kundren		Management	Withhold	For
1.6	Elect  Director William E. Macaulay		Management	Withhold	For
1.7	Elect  Director Hans J. Mende		Management	Withhold	For
1.8	Elect  Director Michael J. Quillen		Management	Withhold	For
2	Ratify Auditors		Management	For	For
AMERIGROUP CORP.	ROUP CORP.
Ticker:  AGP                      Security ID:  03073T102
Meeting Date May 11, 2005     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Richard D. Shi	rk	Management	For	For
1.2	Elect  Director Jeffrey B. Chi	ld	Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
APPLE COMPUTER, INC.
Ticker:  AAPL      Security ID:   037833100
Meeting Date  Apr 21, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Fred D. Anders		Management	For	For
1.2	Elect  Director William V. Cam		Management	For	For
1.3	Elect  Director Millard S. Dre		Management	For	For
1.4	Elect  Director Albert A. Gore		Management	For	For
1.5	Elect  Director Steven P. Jobs		Management	For	For
1.6	Elect  Director Arthur D. Levi		Management	For	For
1.7	Elect  Director Jerome B. York		Management	For	For
2	Approve Executive Incentive Bonus		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Amend Qualified Employee Stock Purchase Plan		Management	For	For
5	Ratify Auditors		Management	For	For
6	Performance- Based/Indexed Options		Shareholder	For	Against
ARRIS	GROUP INC
Ticker:  ARRS             Security ID:  04269Q100
Meeting Date:  May 25, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Alex B. Best		Management	For	For
1.2	Elect  Director Harry L. Bosco		Management	For	For
1.3	Elect  Director John Anderson		Management	For	For
1.4	Elect  Director Matthew B. Kea		Management	For	For
1.5	Elect  Director William H. Lam		Management	For	For
1.6	Elect  Director John R. Petty		Management	For	For
1.7	Elect  Director Robert J. Stan		Management	For	For
2	Ratify Auditors		Management	For	For
ATI TECHNOLOGIES INC.
Ticker:  ATY       Security ID:  001941103
Meeting Date:  Jul 1, 2004       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Elect John E. Caldwell, Ronald Chwang, James D. Fleck		Management	For	For
	K Y Ho, Alan D. Horn, Paul Russo
	and Robert A. Young as directors
2	Ratify KPMG LLP as Auditors		Management	For	For
3	Approve Continuation of Company under Canadian		Management	For	For
	Business Corporation Act
4	Confirmation of CBCA By-Law		Management	For	For
5	Amend Stock Option Plan		Management	For	For
6	Amend Stock Option Plan : Tandem SAR		Management	For	For
BECKMAN COULTER, INC.
Ticker:  BEC    Security ID:  07511109
Meeting Date:  Apr 7, 2005                      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Hugh K. Coble		Management	For	For
1.2	Elect  Director Kevin M. Farr		Management	For	For
1.3	Elect  Director Van B. Honeycutt		Management	For	For
1.4	Elect  Director Betty Woods		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
BED BATH & BEYOND INC.
Ticker:  bbby     Security ID:  075896100
Meeting Date:  Jul 1, 2004        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Warren Eisenberg		Management	For	For
1.2	Elect  Director Victoria A. Morrison		Management	For	For
1.3	Elect  Director Stanley Barshay		Management	For	For
1.4	Elect  Director Fran Stoller		Management	For	For
1.5	Elect  Director Jordan Heller		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
4	Glass Ceiling		Shareholder	Against	Against
5	Adopt Retention Ratio for Exec		Shareholder	For	Against
BED BATH & BEYOND INC.
Ticker: BBBY     Security ID:  075896100
Meeting Date:  Jun 30, 2005   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Leonard Feinstein		Management	For	For
1.2	Elect  Director Robert Kaplan		Management	For	For
1.3	Elect  Director Dean S. Adler		Management	For	For
1.4	Elect  Director Jordan Heller		Management	For	For
2	Ratify Auditors		Management	For	For
3	Adopt ILO-based Code of Conduct		Shareholder	For	Against
4	Review/Limit Executive Compensation		Shareholder	For	Against
5	Declassify the Board of Directors		Shareholder	For	Against
BP PLC	(FORM. BP AMOCO PLC )
Ticker:  BP.PP     Security ID:  055622104
Meeting Date:  Apr 14, 2005    Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dr D C Allen		Management	For	For
1.2	Elect  Director Lord Browne		Management	For	For
1.3	Elect  Director Mr J H  Bryan		Management	For	For
1.4	Elect  Director Mr A  Burgmans		Management	For	For
1.5	Elect  Director Mr I C  Conn		Management	For	For
1.6	Elect  Director Mr E B  Davis, Jr.		Management	For	For
1.7	Elect  Director Mr D J  Flint		Management	For	For
1.8	Elect  Director Dr B E  Grote		Management	For	For
1.9	Elect  Director Dr A B  Hayward		Management	For	For
1.1	Elect  Director Dr D S  Julius		Management	For	For
1.11	Elect  Director Sir Tom Mckillop		Management	For	For
1.12	Elect  Director Mr J A  Manzoni		Management	For	For
1.13	Elect  Director Dr W E  Massey		Management	For	For
1.14	Elect  Director Mr H M P  Mile		Management	For	For
1.15	Elect  Director Sir Ian Prosser		Management	For	For
1.16	Elect  Director Mr M H Wilson		Management	For	For
1.17	Elect  Director Mr P D Sutherlland		Management	For	For
2	Ratify Auditors		Management	For	For
3	TO GIVE AUTHORITY TO ALLOT SHARES		Management	For	For
4	SPECIAL RESOLUTION: TO GIVE AUTHORITY TO		Management	For	For
	ALLOT A LIMITED NUMBER OF SHARES FOR CASH
	WITHOUT MAKING AN OFFER TO SHAREHOLDERS
5	SPECIAL RESOLUTION: TO GIVE LIMITED		Management	For	For
	AUTHORITY FOR THE PURCHASE OF ITS OWN
	SHARES BY THE COMPANY
6	TO APPROVE THE DIRECTORS  REMUNERATION		Management	For	For
	REPORT
7	TO APPROVE THE RENEWAL OF EXEC DIRECTORS		Management	For	For
	DIRECTORS  INCENTIVE PLAN
8	TO RECEIVE THE DIRECTORS  ANNUAL REPORT		Management	For	For
BROADCOM CORP.
Ticker:  BRCM     Security ID:  111320107
Meeting Date:  Apr 28, 2005   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director George L. Farinsky		Management	Withhold	For
1.2	Elect  Director John Major		Management	Withhold	For
1.3	Elect  Director Scott A. McGregor		Management	For	For
1.4	Elect  Director Alan E. Ross		Management	For	For
1.5	Elect  Director Henry Samueli, Ph.D.		Management	For	For
1.6	Elect  Director Robert E. Switz		Management	Withhold	For
1.7	Elect  Director Werner F. Wolfen		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	Against	For
3	Ratify Auditors		Management	For	For
4	Link Executive Compensation to Social and Fin Issues		Shareholder	For	Against
BROCADE COMMUNICATIONS SYSTEMS
Ticker:  BRCDE      Security ID:   111621108
Meeting Date:  Apr 22, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael Klayko		Management	For	For
1.2	Elect  Director Nicholas G. Moore		Management	For	For
2	Ratify Auditors		Management	For	For
BURLINGTON NORTHERN SANTA FE CORP.
Ticker:  BNI        Security ID:  12189T104
Meeting Date:  Apr 20, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director A.L. Boeckmann		Management	For	For
1.2	Elect  Director V.S. Martinez		Management	Withhold	For
1.3	Elect  Director M.F. Racicot		Management	Withhold	For
1.4	Elect  Director R.S. Roberts		Management	For	For
1.5	Elect  Director M.K. Rose		Management	For	For
1.6	Elect  Director M.J. Shapiro		Management	For	For
1.7	Elect  Director J.C. Watts, Jr		Management	For	For
1.8	Elect  Director R.H. West		Management	For	For
1.9	Elect  Director J.S. Whisler		Management	For	For
1.1	Elect  Director E.E. Whitacre, Jr.		Management	For	For
2	Ratify Auditors		Management	For	For
CAPITALSOURCE, INC.
Ticker:  CSE      Security ID:   12189T104
Meeting Date:  Apr 20, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Frederick W. Eubank, II		Management	Withhold	For
1.2	Elect Director Jason M. Fish		Management	For	For
1.3	Elect Director Timothy M. Hurd		Management	For	For
1.4	Elect Director Dennis P. Lockhart		Management	For	For
CAREMARK RX, INC.
Ticker:  CMX     Security ID:   141705103
Meeting Date:   May 11, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Edwin M. Crawford		Management	For	For
1.2	Elect Director Kristen Gibney Williams		Management	For	For
1.3	Elect Director Edward L. Hardin		Management	For	For
2	Report on Political Contributions		Shareholder	Against	Against
CIGNA  CORP
Ticker:  CI      Security ID:   125509109
Meeting Date:  Apr 27, 2005     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Peter N. Larson		Management	For	For
1.2	Elect Director Carol Cox Wait		Management	For	For
1.3	Elect Director William D. Zollers		Management	For	For
1.4	Elect Director Marilyn Ware		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
CITIGROUP
Ticker:  C        Security ID:   172967101
Meeting:  Apr 19, 2005      Meeting Type:   Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director C. Michael Armstrong		Management	For	For
1.2	Elect  Director Alain J.P. Belda		Management	For	For
1.3	Elect  Director George David		Management	For	For
1.4	Elect  Director Kenneth T. Derr		Management	For	For
1.5	Elect  Director John M. Deutch		Management	For	For
1.6	Elect  Director Roberto Hernandez Ramirez		Management	For	For
1.7	Elect  Director Ann Dibble Jordan		Management	For	For
1.8	Elect  Director Klaus Kleinfeld		Management	For	For
1.9	Elect  Director Dudley C. Mecum		Management	For	For
1.1	Elect  Director Anne Mulcahy		Management	For	For
1.11	Elect  Director Richard D. Parsons		Management	For	For
1.12	Elect  Director Charles Prince		Management	For	For
1.13	Elect  Director Judith Rodin		Management	For	For
1.14	Elect  Director Robert E. Rubin		Management	For	For
1.15	Elect  Director Franklin A. Thomas		Management	For	For
1.16	Elect  Director Sanford I. Weill		Management	For	For
1.17	Elect  Director Robert B. Willumstad		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Limit/Prohibit Awards to Executives		Shareholder	Against	Against
5	Report on Political Contributions		Shareholder	Against	Against
6	Prohibit Chairman From Management Duties, Titles		Shareholder	For	Against
	or Responsibilities
7	Limit Executive Compensation		Shareholder	Against	Against
8	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
9	Review/Limit Executive Compensation		Shareholder	Against	Against
10	Adopt Simple Majority Vote		Shareholder	For	Against
COACH,	INC.
Ticker:  COH     Security IK:  189754104
Meeting Date:  Nov 3, 2004     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Joseph Ellis		Management	For	For
1.2	Elect  Director Lew Frankfort		Management	For	For
1.3	Elect  Director Sally Frame Kasaks		Management	For	For
1.4	Elect  Director Gary Loveman		Management	For	For
1.5	Elect  Director Irene Miller		Management	For	For
1.6	Elect  Director Keith Monda		Management	For	For
1.7	Elect  Director Michael Murphy		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
COGNOS INC.
Ticker:  CSN        Security ID:  19244C109
Meeting Date:  Jun 23, 2005       Meeting Type:  Annual/Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Robert G. Ashe		Management	For	For
1.2	Elect Director John E. Caldwell		Management	For	For
1.3	Elect Director Paul D. Damp		Management	For	For
1.4	Elect Director Pierre Y. Ducros		Management	For	For
1.5	Elect Director Robert W. Korthals		Management	For	For
1.6	Elect Director John J. Rando		Management	For	For
1.7	Elect Director Bill V. Russell		Management	For	For
1.8	Elect Director James M. Tory		Management	For	For
1.9	Elect Director Renato Zambonini		Management	For	For
2	Approve Ernst & Young LLP as Auditors		Management	For	For
3	Amend 2003 Stock Option Plan		Management	For	For
4	Amend Restricted Share Unit Plan		Management	For	For
5	Amend Employee Stock Purchase Plan		Management	For	For
COMMUNITY HEALTH SYSTEMS, INC.
Ticker:  CYH      Security ID:   203668108
Meeting Date:  MAY 25, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dale F. Frey		Management	For	For
1.2	Elect  Director John A. Fry		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
4	Expense Stock Options		Shareholder	For	Against
COX RADIO, INC.
Ticker:  CXR       Security ID:   224051102
Meeting Date:  May 3, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Juanita P. Baranco		Management	For	For
1.2	Elect  Director G. Dennis Berry		Management	Withhold	For
1.3	Elect  Director Richard A. Ferguson		Management	Withhold	For
1.4	Elect  Director Paul M. Hughes		Management	For	For
1.5	Elect  Director James C. Kennedy		Management	Withhold	For
1.6	Elect  Director Marc W. Morgan		Management	Withhold	For
1.7	Elect  Director Robert F. Neil		Management	Withhold	For
1.8	Elect  Director Nicholas D. Trigony		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
CVS CORPORATION
Ticker:  CVS       Security ID:   126650100
Meeting Date:  May 12, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director W. Don Cornwell		Management	For	For
1.2	Elect Director Thomas P. Gerrity		Management	For	For
1.3	Elect Director Stanley P. Goldsten		Management	For	For
1.4	Elect Director Marian L. Heard		Management	For	For
1.5	Elect Director William H. Joyce		Management	Withhold	For
1.6	Elect Director Terrence Murray		Management	For	For
1.7	Elect Director Sheli Z. Rosenberg		Management	For	For
1.8	Elect Director Thomas M. Ryan		Management	For	For
1.9	Elect Director Alfred J. Verrecchia		Management	For	For
2	Ratify Auditors		Management	For	For
3	Require a Majority Vote for the election of directors		Shareholder	For	Against
4	Performance- Based/Indexed Options		Shareholder	Against	Against
5	Review/Limit Executive Compensation		Shareholder	Against	Against
EAST WEST BANCORP, INC.
Ticker:   EWBC          Security ID:   27579R104
Meeting Date  May 25, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dominic Ng		Management	For	For
1.2	Elect  Director Herman Li		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Ratify Auditors		Management	For	For
ELI LILLY AND CO.
Ticker:  LLY      Security ID:  532457108
Meeting Date:  Apr 18, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director G.M.C. Fisher		Management	Withhold	For
1.2	Elect  Director A.G. Gilman		Management	For	For
1.3	Elect  Director K.N. Horn		Management	Withhold	For
1.4	Elect  Director J. Rose		Management	For	For
2	Ratify Auditors		Management	For	For
3	Separate Chairman and CEO Positions		Shareholder	For	Against
4	Review and Report on Drug Reimportation Policy		Shareholder	Against	Against
5	Report on Product Availability in Canada		Shareholder	For	Against
6	Report on Political Contributions		Shareholder	Against	Against
7	Adopt Policy on Performance-based stock option grant		Shareholder	For	Against
8	Eliminate Animal Testing		Shareholder	Against	Against
ENTERCOM COMMUNICATIONS CORP.
Ticker:  ETM      Security ID:  293639100
Meeting Date:  May 6, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director David J. Berkman		Management	Withhold	For
1.2	Elect  Director Daniel E. Gold		Management	For	For
1.3	Elect  Director Joseph M. Field		Management	For	For
1.4	Elect  Director David J. Field		Management	For	For
1.5	Elect  Director John C. Donlevie		Management	For	For
1.6	Elect  Director Edward H. West		Management	Withhold	For
1.7	Elect  Director Robert S. Wiesenthal		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	Against	For
FAIR ISAAC INC.
Ticker:  FIC     Security ID:   303250104
Meeting Date:  Feb 1, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director A. George Battle		Management	For	For
1.2	Elect  Director Andrew Cecere		Management	For	For
1.3	Elect  Director Tony J. Christianson		Management	For	For
1.4	Elect  Director Thomas G. Grudnowski		Management	For	For
1.5	Elect  Director Alex W. Hart		Management	For	For
1.6	Elect  Director Philip G. Heasley		Management	For	For
1.7	Elect  Director Guy R. Henshaw		Management	For	For
1.8	Elect  Director David S.P. Hopkins		Management	For	For
1.9	Elect  Director Margaret L. Taylor		Management	For	For
2	Ratify Auditors		Management	For	For
FIRST MARBLEHEAD CORP
Ticker:  FMD         Security ID:   320771108
Meeting Date:  Nov 18, 2004      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Daniel Maxwell Meyers		Management	For	For
1.2	Elect  Director Stephen E. Anbinder		Management	For	For
1.3	Elect  Director Leslie L. Alexander		Management	For	For
1.4	Elect  Director William R. Berkley		Management	For	For
1.5	Elect  Director Dort A. Cameron		Management	For	For
1.6	Elect  Director George G. Daly		Management	For	For
1.7	Elect  Director Peter S. Drotch		Management	For	For
1.8	Elect  Director William D. Hansen		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Approve Executive Incentive Bonus		Management	For	For
GARMIN LTD
Ticker:  GRMN          Security ID:   G37260109
Meeting Date:  Jun 3, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Donald H. Eller		Management	For	For
1.2	Elect  Director Clifton A. Pemble		Management	For	For
1.3	Elect  Director Charles W. Peffer		Management	For	For
2	APPROVAL OF THE GARMIN LTD. 2005 EQUITY		Management	For	For
	INCENTIVE PLAN
GENENTECH, INC.
Ticker:  DNA        Security ID:  368710406
Meeting Date:  Apr 14, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Herbert W. Boyer		Management	Withhold	For
1.2	Elect  Director William M. Burns		Management	Withhold	For
1.3	Elect  Director Erich Hunziker		Management	Withhold	For
1.4	Elect  Director Jonathan K.C. Knowles		Management	Withhold	For
1.5	Elect  Director Arthur D. Levinson		Management	Withhold	For
1.6	Elect  Director Charles A. Sanders		Management	For	For
2	Ratify Auditors		Management	For	For
GENERAL DYNAMICS CORP
Ticker:  GD            Security ID:   369550108
Meeting Date:  May 4, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Nicholas D. Chabraja		Management	Withhold	For
1.2	Elect Director James S. Crown		Management	Withhold	For
1.3	Elect Director Lester Crown		Management	Withhold	For
1.4	Elect Director William P. Fricks		Management	Withhold	For
1.5	Elect Director Charles H. Goodman		Management	Withhold	For
1.6	Elect Director Jay L. Johnson		Management	Withhold	For
1.7	Elect Director George A. Joulwwan		Management	Withhold	For
1.8	Elect Director Paul G. Kaminski		Management	Withhold	For
1.9	Elect Director John M. Keane		Management	Withhold	For
1.1	Elect Director Lester L. Lyles		Management	Withhold	For
1.11	Elect Director Carl E. Mundy, Jr.		Management	Withhold	For
1.12	Elect Director Robert Walmsley		Management	Withhold	For
2	Ratify Auditors		Management	For	For
3	Limit Executive Compensation		Shareholder	For	Against
4	Report on Foreign Weapons Sales		Shareholder	Against	Against
GENERAL ELECTRIC CO.
Ticker:   GE         Security ID:   369604103
Meeting Date:  Apr 27, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James I. Cash, Jr.		Management	For	For
1.2	Elect  Director William M. Castell		Management	For	For
1.3	Elect  Director Dennis D. Dammerman		Management	For	For
1.4	Elect  Director Ann M. Fudge		Management	For	For
1.5	Elect  Director Claudio X. Gonzalez		Management	Withhold	For
1.6	Elect  Director Jeffrey R. Immelt		Management	For	For
1.7	Elect  Director Andrea Jung		Management	For	For
1.8	Elect  Director Alan G. Lafley		Management	For	For
1.9	Elect  Director Ralph S. Larsen		Management	For	For
1.1	Elect  Director Rochelle B. Lazarus		Management	For	For
1.11	Elect  Director Sam Nunn		Management	For	For
1.12	Elect  Director Roger S. Penske		Management	For	For
1.13	Elect  Director Robert J. Swieringa		Management	For	For
1.14	Elect  Director Douglas A. Warner III		Management	For	For
1.15	Elect  Director Robert C. Wright		Management	For	For
2	Ratify Auditors		Management	For	For
3	Provide for Cumulative Voting		Shareholder	Against	Against
4	Report on Nuclear Fuel Storage Risks		Shareholder	Against	Against
5	Report on PCB Clean-up Costs		Shareholder	For	Against
6	Adopt Policy on Overboarded Directors		Shareholder	For	Against
7	Prepare a Sustainability Report		Shareholder	Against	Against
8	Political Contributions/Activities		Shareholder	Against	Against
9	Eliminate Animal Testing		Shareholder	Against	Against
GENZYME CORP.
Ticker:  GENZ         Security ID:   372917104
Meeting Date   May 26, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert J. Carpenter		Management	For	For
1.2	Elect  Director Charles L. Cooney		Management	For	For
2	Amend Qualified Employee Stock Purchase Plan		Management	For	For
3	Amend Stock Option Plan		Management	For	For
4	Ratify Auditors		Management	For	For
5	Declassify the Board of Directors		Shareholder	For	Against
GILEAD SCIENCES, INC.
Ticker:  GILD          Security ID:   375558103
Meeting Date:   May 10, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Paul Berg		Management	For	For
1.2	Elect Director Etienne F. Davignon		Management	For	For
1.3	Elect Director James M. Denny		Management	For	For
1.4	Elect Director John C. Martin		Management	For	For
1.5	Elect Director Gordon E. Moore		Management	For	For
1.6	Elect Director Nicholas G. Moore		Management	For	For
1.7	Elect Director George P. Shultz		Management	For	For
1.8	Elect Director Gayle E. Wilson		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Report on Impact of HIV/AIDS, TB, Malaria Pandemics		Shareholder	For	Against
GILLETTE CO., THE
Ticker:  G          Security ID:   375766102
Meeting Date:  May 12, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael B. Gifford		Management	For	For
1.2	Elect  Director Ray J. Groves		Management	For	For
1.3	Elect  Director Fred H. Langhammer		Management	Withhold	For
1.4	Elect  Director Marjorie M. Yang		Management	Withhold	For
2	Ratify Auditors		Management	For	For
GOOGLE INC.
Ticker:  GOOG           Security ID:   38259P508
Meeting Date:  May 12, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Eric Schmidt		Management	For	For
1.2	Elect  Director Larry Page		Management	For	For
1.3	Elect  Director Sergey Brin		Management	For	For
1.4	Elect  Director L. John Doerr		Management	Withhold	For
1.5	Elect  Director John L. Hennessy		Management	For	For
1.6	Elect  Director Arthur D. Levinson		Management	For	For
1.7	Elect  Director Michael Moritz		Management	For	For
1.8	Elect  Director Paul S. Otellini		Management	For	For
1.9	Elect  Director K. Ram Shriram		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	Against	For
HCA, INC,
Ticker:  HCA           Security ID:   404119109
Meeting Date  May 26, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director C. Michael Armstrong		Management	For	For
1.2	Elect  Director Magdalena H. Averhoff, M.D.		Management	For	For
1.3	Elect  Director Jack O. Bovender, Jr.		Management	For	For
1.4	Elect  Director Richard M. Bracken		Management	For	For
1.5	Elect  Director Martin Feldstein		Management	For	For
1.6	Elect  Director Thomas F. Frist, Jr., M.D.		Management	For	For
1.7	Elect  Director Frederick W. Gluck		Management	For	For
1.8	Elect  Director Glenda A. Hatchett		Management	For	For
1.9	Elect  Director Charles O. Holliday, Jr.		Management	For	For
1.1	Elect  Director T. Michael Long		Management	For	For
1.11	Elect  Director John H. McArthur		Management	For	For
1.12	Elect  Director Kent C. Nelson		Management	For	For
1.13	Elect  Director Frank S. Royal, M.D.		Management	For	For
1.14	Elect  Director Harold T. Shapiro		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	Against	For
HILTON HOTELS CORP.
Ticker:  HLT           Security ID:   432848109
Meeting DATE:  May 26, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Stephen F. Bollenbach		Management	For	For
1.2	Elect Director Barbara Bell Coleman		Management	For	For
1.3	Elect Director Benjamin V. Lambert		Management	For	For
1.4	Elect Director John L. Notter		Management	For	For
1.5	Elect Director Peter V. Ueberroth		Management	For	For
2	Ratify Auditors		Management	For	For
3	Submit Severance Agreement to Shareholder Vote		Shareholder	For	Against
4	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
INTEL CORP.	CORP.
Ticker:  INTC     Security ID:   458140100
Meeting Date:   May 18, 2005           Meeting Type:   Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Craig R. Barrett		Management	For	For
1.2	Elect Director Charlene Barshefsky		Management	For	For
1.3	Elect Director E. John P. Browne		Management	For	For
1.4	Elect Director D. James Guzy		Management	For	For
1.5	Elect Director Reed E. Hundt		Management	For	For
1.6	Elect Director Paul S. Otellini		Management	For	For
1.7	Elect Director David S. Pottruck		Management	For	For
1.8	Elect Director Jane E. Shaw		Management	For	For
1.9	Elect Director John L. Thornton		Management	For	For
1.1	Elect Director David B. Yoffie		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Amend Executive Incentive Bonus Plan		Management	For	For
INVESTORS FINANCIAL SERVICES CORP.
Ticker:   IFIN      Security ID:   461915100
Meeting Date:  Apr 14, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Phyllis S. Swersky		Management	For	For
1.2	Elect  Director Edward F. Hines, Jr.		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
JOHNSON & JOHNSON
Ticker:  JNJ            Security ID:   478160104
Meeting Date:  Apr 28, 2005              Meeting Type:  Annual					nual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Mary Sue Coleman		Management	For	For
1.2	Elect  Director James G. Cullen		Management	For	For
1.3	Elect  Director Robert J. Darretta		Management	For	For
1.4	Elect  Director Michael M. E. Johns		Management	For	For
1.5	Elect  Director Ann Dibble Jordan		Management	For	For
1.6	Elect  Director Arnold G. Langbo		Management	For	For
1.7	Elect  Director Susan L. Lindquist		Management	For	For
1.8	Elect  Director Leo F. Mullin		Management	For	For
1.9	Elect  Director Christine A. Poon		Management	For	For
1.1	Elect  Director Steven S. Reinemund		Management	For	For
1.11	Elect  Director David Satcher		Management	For	For
1.12	Elect  Director William C. Weldon		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
LEHMAN BROTHERS HOLDINGS INC.
Ticker:  LEH           Security ID:   524908100
Meeting Date:  Apr 5, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael L. Ainslie		Management	For	For
1.2	Elect  Director John F. Akers		Management	For	For
1.3	Elect  Director Richard S. Fuld, Jr.		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	Against	For
4	Limit Executive Compensation		Shareholder	Against	Against
LOCKHEED MARTIN CORP.
Ticker:  LMT             Security ID:   539830109
Meeting Date:  Apr 28, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director E.C. 'Pete' Aldridge		Management	For	For
1.2	Elect Director Nolan D. Archibald		Management	For	For
1.3	Elect Director Marcus C. Bennett		Management	For	For
1.4	Elect Director James O. Ellis, Jr.		Management	For	For
1.5	Elect Director Gwendolyn S. King		Management	For	For
1.6	Elect Director Douglas H. McCorkindale		Management	For	For
1.7	Elect Director Eugene F. Murphy		Management	For	For
1.8	Elect Director Joseph W. Ralston		Management	Withhold	For
1.9	Elect Director Frank Savage		Management	Withhold	For
1.1	Elect Director Anne Stevens		Management	For	For
1.11	Elect Director Robert J. Stevens		Management	For	For
1.12	Elect Director James R. Ukropina		Management	For	For
1.13	Elect Director Douglas C. Yearley		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Performance-Based/Indexed Options		Shareholder	Against	Against
5	Adopt Simple Majority Vote Requirement for All Issues		Shareholder	For	Against
6	Report on Pay Disparity		Shareholder	Against	Against
7	Review code of conduct on military contracts and amend		Shareholder	Against	Against
	its code of conduct and policies related to bidding.
LOWE'S COMPANIES, INC.
Ticker:  LOW         Security ID:   548661107
Meeting Date:  May 27, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Robert A. Ingram		Management	For	For
1.2	Elect Director Richard K. Lochridge		Management	For	For
1.3	Elect Director Robert L. Johnson		Management	For	For
2	Amend Non-Employee Director Stock Option Plan		Management	For	For
3	Ratify Auditors		Management	For	For
LUBRIZOL CORP., THE
Ticker:  LZ        Security ID:  549271104
Meeting Date:  Apr 25, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Peggy Gordon Miller		Management	For	For
1.2	Elect  Director Dominic J. Pileggi		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
MARVELL TECHNOLOGY GROUP LTD
Ticker:  MRVL               Security ID:   G5876H105
Meeting Date:  Jun 10, 2005                    Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Kuo Wei 'Herbert' Chang		Management	Withhold	For
2	Ratify Auditors		Management	For	For
MEMC ELECTRONIC MATERIALS, INC.
Ticker:     WFR            Security ID:   552715104
Meeting Date:  Apr 27, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Nabeel Gareeb		Management	Withhold	For
2	Ratify Auditors		Management	For	For
MERCURY INTERACTIVE CORP.
Ticker:  MERQ           Security ID:   589405109
Meeting Date:  May 19, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Amnon Landan		Management	For	For
1.2	Elect  Director Brad Boston		Management	For	For
1.3	Elect  Director Igal Kohavi		Management	For	For
1.4	Elect  Director Clyde Ostler		Management	For	For
1.5	Elect  Director Yair Shamir		Management	For	For
1.6	Elect  Director Giora Yaron		Management	For	For
1.7	Elect  Director Anthony Zingale		Management	For	For
2	Ratify Auditors		Management	For	For
MERRILL LYNCH & CO., INC.
Ticker:  MER           Security ID:   590188108
Meeting Date:  Apr 22, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jill K. Conway		Management	For	For
1.2	Elect  Director Heinz-Joachim Neuburger		Management	For	For
1.3	Elect  Director E. Stanley O'Neal		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Non-Employee Director Restricted Stock Plan		Management	For	For
4	Provide for Cumulative Voting		Shareholder	For	Against
5	Limit Executive Compensation		Shareholder	Against	Against
MICROSOFT CORP.
Ticker:  MSFT            Security id:  594918104
Meeting Date:  Nov 9, 2004             Meeting Type:  Annual					nual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director William H. Gates III		Management	For	For
1.2	Elect  Director Steven A. Ballmer		Management	For	For
1.3	Elect  Director James I. Cash Jr, Ph.D.		Management	For	For
1.4	Elect  Director Raymond V. Gilmartin		Management	For	For
1.5	Elect  Director Ann McLaughlin Korologos		Management	For	For
1.6	Elect  Director David F. Marquardt		Management	For	For
1.7	Elect  Director Charles H. Noski		Management	For	For
1.8	Elect  Director Dr. Helmut Panke		Management	For	For
1.9	Elect  Director Jon A. Shirley		Management	For	For
2	Amend Bundled Compensation Plans		Management	For	For
3	Amend Bundled Compensation Plans		Management	For	For
4	Amend Stock Option Plan		Management	For	For
5	Ratify Auditors		Management	For	For
NATIONAL OILWELL VARCO INC.
Ticker:   NOV        Security ID:   637071101
Meeting Date:    Mar 11, 2005             Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Merger Agreement		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Adjourn Meeting		Management	Against	For
4	Other Business		Management	Against	For
NAVTEQ CORPORATION
Ticker:  NVT           Security ID:   63936L100
Meeting Date:  May 11, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Richard J.A. de Lange		Management	Withhold	For
1.2	Elect  Director Christopher Galvin		Management	For	For
1.3	Elect  Director Judson C. Green		Management	For	For
1.4	Elect  Director Wilhelmus C.M. Groenhuysen		Management	For	For
1.5	Elect  Director William Kimsey		Management	For	For
1.6	Elect  Director Scott D. Miller		Management	For	For
1.7	Elect  Director Dirk-Jan Van Ommeren		Management	For	For
NETEASE COM INC.
Ticker:   NTES         Security ID:  64110W102
Meeting Date:  Jun 23, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	Against	For
	WILLIAM DING
2	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	Against	For
	TED SUN
3	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	Against	For
	DENNY LEE
4	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	Against	For
	MICHAEL TONG
5	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	For	For
	DONGHUA DING
6	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	For	For
	RONALD LEE
7	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	For	For
	MICHAEL LEUNG
8	RE-ELECT TO SERVE FOR THE ENSUING YEAR		Management	For	For
	JOSEPH TONG
9	Ratify Auditors		Management	For	For
NOKIA CORP
Ticker:  NKCAF         Security ID:   654902204
Meeting:  Date:  Apr 7, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
2	APPROVAL OF THE INCOME STATEMENTS AND THE		Management	For	For
	BALANCE SHEET.
3	APPROVAL OF A PROPOSAL TO THE ANNUAL		Management	For	For
	GENERAL MEETING OF A DIVIDEND OR EUR .33
	PER SHARE.
4	DISCHARGE OF THE CHAIRMAN, THE MEMBERS OF		Management	For	For
	THE BOARD OF DIRECTORS, AND THE
	PRESIDENT, FROM LIABILITY.
6	PROPOSAL ON THE COMPOSITION OF THE BOARD		Management	For	For
	AS PROPOSED BY THE CORPORATE GOVERNANCE
	AND NOMINATION COMMITTEE.
7.1	Elect  Directors Paul J. Collins		Management	For	For
7.2	Elect  Directors Georg Ehrnrooth		Management	For	For
7.3	Elect  Directors Bengt Holmstrom		Management	For	For
7.4	Elect  Directors Per Karlsson		Management	For	For
7.5	Elect  Directors Jorma Ollila		Management	For	For
7.6	Elect  Directors Marjorie Scardino		Management	For	For
7.7	Elect  Directors Vesa Vainio		Management	For	For
7.8	Elect  Directors Arne Wessberg		Management	For	For
7.9	Elect  Directors Dan Hesse		Management	For	For
7.1	Elect  Directors Edouard Michein		Management	For	For
8	APPROVAL OF THE REMUNERATION To be paid		Management	For	For
	TO THE AUDITOR.
9	APPROVAL OF THE RE-ELECTION OF		Management	For	For
	PRICEWATERHOUSECOOPERS AS THE AUDITORS
	FOR FISCAL YEAR 2005.
10	APPROVAL  TO GRANT STOCK OPTIONS TO		Management	For	For
	SELECTED PERSONNEL OF THE COMPANY
11	APPROVAL OF THE PROPOSAL OF THE BOARD TO REDUCE		Management	For	For
	THE SHARE CAPITAL THROUGH CANCELLATION OF NOKI
	NOKIA SHARES HELD BY COMPANY
12	AUTHORIZATION TO THE BOARD TO INCREASE THE SHARES		Management	For	For
	CAPITAL OF THE COMPANY
13	AUTHORIZATION TO THE BOARD TO REPURCHASE		Management	For	E  For
	NOKIA SHARES.
14	AUTHORIZATION TO THE BOARD TO DISPOSE		Management	For	For
	NOKIA SHARES HELD BY THE COMPANY
15	MARK THE FOR BOX IF YOU WISH TO INSTRUCT		Management	Against	For
	NOKIA S LEGAL COUNSELS TO VOTE ON YOUR
	BEHALF
NOVARTIS AG
Ticker:  NVS      Security ID:   66987V109
Meeting Date:  Mar 1, 2005                            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	APPROVAL OF THE ANNUAL REPORT,		Management	For	For
	FINANCIAL STATEMENTS OF NOVARTis ag and
	THE GROUP CONSOLIDATED FINANCIAL STMTS
	FOR THE YEAR 2004.
2	APPROVAL OF THE ACTIVITIES OF THE BOARD		Management	For	For
	OF DIRECTORS.
3	APPROPRIATION OF AVAILABLE EARNINGS OF		Management	For	For
	NOVARTIS AG AS PER BALANCE SHEET AND
	DECLARATION OF DIVIDEND.
4	REDUCTION OF SHARE CAPITAL.		Management	For	For
5	FURTHER SHARE REPURCHASE PROGRAM		Management	For	For
6	RE-ELECTION OF DR. H.C. BIRGIT BREUEL FOR A		Management	For	For
	A TWO-YEAR TERM.
7	RE-ELECTION OF PROF. DR. PETER BURCKHARDT		Management	For	For
	FOR A THREE-YEAR TERM.
8	RE-ELECTION OF ALEXANDRE F. JETZER FOR A		Management	For	For
	THREE-YEAR TERM.
9	RE-ELECTION OF PIERRE LANDOLT FOR A 3		Management	For	For
	YEAR TERM.
10	RE-ELECTION OF PROF. DR. ULRICH LEHNER		Management	For	For
	FOR A THREE YEAR TERM.
11	Ratify Auditors		Management	For	For
OSI PHARMACEUTICALS, INC.
Ticker:  OSIP                    Security ID:  671040103
Meeting Date:  Mar 16, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert A. Ingram		Management	Withhold	For
1.2	Elect  Director Colin Goddard, Ph.D.		Management	For	For
1.3	Elect  Director Michael G. Atieh		Management	For	For
1.4	Elect  Director G. Morgan Browne		Management	For	For
1.5	Elect  Director Daryl K. Granner, M.D.		Management	For	For
1.6	Elect  Director Walter M Lovenberg, Ph.D.		Management	For	For
1.7	Elect  Director Viren Mehta		Management	For	For
1.8	Elect  Director Herbert Pinedo, M.D., Ph.D.		Management	For	For
1.9	Elect  Director Sir Mark Richmond, Ph.D.		Management	For	For
1.1	Elect  Director John P. White		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
OXFORD HEALTH PLANS, INC.
Ticker:  OHP              Security ID:   691471106
Meeting Date:  Jul 7, 2004                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Merger Agreement		Management	For	For
2	Adjourn Meeting		Management	Against	For
PACIFICARE HEALTH SYSTEMS, INC.
Ticker:  PHS           Security ID:   695112102
Meeting Date:  May 19, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Aida Alvarez		Management	For	For
1.2	Elect  Director Bradley C. Call		Management	For	For
1.3	Elect  Director Terry O. Hartshorn		Management	Withhold	For
1.4	Elect  Director Dominic Ng		Management	For	For
1.5	Elect  Director Howard G. Phanstiel		Management	For	For
1.6	Elect  Director Warren E. Pinckert II		Management	For	For
1.7	Elect  Director David A. Reed		Management	For	For
1.8	Elect  Director Charles R. Rinehart		Management	For	For
1.9	Elect  Director Linda Rosenstock		Management	For	For
1.1	Elect  Director Lloyd E. Ross		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
PALM INC.
Ticker:  PALM        Security ID:  69713P107
Meeting Date:  Sep 30, 2004                   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Gordon A. Campb		Management	For	For
1.2	Elect  Director Donna L. Dubinsky		Management	Withhold	For
1.3	Elect  Director Susan G. Swenson		Management	For	For
2	Amend Omnibus Stock Plan		Management	Against	For
3	Ratify Auditors		Management	For	For
PATTERSON-UTI ENERGY INC.
Ticker:  PTEN       Security ID:   703481101
Meeting Date:  Jun 15, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Mark S. Siegel		Management	For	For
1.2	Elect  Director Cloyce A. Talbott		Management	For	For
1.3	Elect  Director A. Glenn Patterson		Management	For	For
1.4	Elect  Director Kenneth N. Berns		Management	For	For
1.5	Elect  Director Robert C. Gist		Management	For	For
1.6	Elect  Director Curtis W. Huff		Management	For	For
1.7	Elect  Director Terry H. Hunt		Management	For	For
1.8	Elect  Director Kenneth R. Peak		Management	For	For
1.9	Elect  Director Nadine C. Smith		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
PEABODY ENERGY CORP.
Ticker:  BTU       Security ID:   704549104
Meeting Date:  May 6, 2005     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director B.R. Brown		Management	For	For
1.2	Elect  Director Henry Givens, Jr., Ph.D.		Management	For	For
1.3	Elect  Director James R. Schlesinger		Management	Withhold	For
1.4	Elect  Director Sandra Van Trease		Management	For	For
2	Ratify Auditors		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Require Two Thirds Majority of Independent Directors		Shareholder	For	Against
5	Declassify the Board of Directors		Shareholder	For	Against
6	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
PEPSICO, INC.
Ticker:  PEP          Security ID:  713448108
Meeting Date:  May 4, 2005            Meeting Type: Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John F. Akers		Management	For	For
1.2	Elect  Director Robert E. Allen		Management	For	For
1.3	Elect  Director Ray L. Hunt		Management	For	For
1.4	Elect  Director Arthur C. Martinez		Management	For	For
1.5	Elect  Director Indra K. Nooyi		Management	For	For
1.6	Elect  Director Steven S Reinemund		Management	For	For
1.7	Elect  Director Sharon P. Rockefeller		Management	For	For
1.8	Elect  Director James J. Schiro		Management	For	For
1.9	Elect  Director Franklin A. Thomas		Management	For	For
1.1	Elect  Director Cynthia M. Trudell		Management	For	For
1.11	Elect  Director Solomon D. Trujillo		Management	For	For
1.12	Elect  Director Daniel Vasella		Management	For	For
2	Ratify Auditors		Management	For	For
3	Report on Corporate Political Contributions		Shareholder	Against	Against
PERFORMANCE FOOD GROUP CO.
Ticker:  PFGC          Security ID:  713755106
Meeting Date:  May 18, 2005                Meeting Type: Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John E. Stokely		Management	For	For
1.2	Elect  Director Fred C. Goad, Jr.		Management	For	For
PFIZER INC.
Ticker:  PFE         Security ID:   717081103
Meeting Date:  Apr 28, 2005                   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Michael S. Brown		Management	For	For
1.2	Elect Director M. Anthony Burns		Management	For	For
1.3	Elect Director Robert N. Burt		Management	For	For
1.4	Elect Director W. Don Cornwell		Management	For	For
1.5	Elect Director William H. Gray III		Management	For	For
1.6	Elect Director Constance J. Horner III		Management	For	For
1.7	Elect Director William R. Howell		Management	For	For
1.8	Elect Director Stanley O. Ikenberry		Management	For	For
1.9	Elect Director George A. Lorch		Management	For	For
1.1	Elect Director Henry A. McKinnell		Management	For	For
1.11	Elect Director Dana G. Mead		Management	For	For
1.12	Elect Director Ruth J. Simmons		Management	For	For
1.13	Elect Director William C. Steere, Jr.		Management	For	For
1.14	Elect Director Jean-Paul Valles		Management	For	For
2	Ratify Auditors		Management	For	For
3	Establish Term Limits for Directors		Shareholder	Against	Against
4	Report on Pharmaceutical Price Restraint		Shareholder	Against	Against
5	Review and Report on Drug Reimportations Policy		Shareholder	Against	Against
6	Report on Political Contributions		Shareholder	Against	Against
7	Report on Product Availability in Canada		Shareholder	For	Against
8	Separate Chairman and CEO Positions		Shareholder	For	Against
PIXAR, INC.	INC.
Ticker:  PIXR         Security ID:   72511103
Meeting Date:  Aug 20, 2004       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Steve Jobs		Management	Withhold	For
1.2	Elect  Director Edwin E. Catmull		Management	Withhold	For
1.3	Elect  Director Skip M. Brittenham		Management	Withhold	For
1.4	Elect  Director Susan L. Decker		Management	For	For
1.5	Elect  Director Joseph A. Graziano		Management	For	For
1.6	Elect  Director Lawrence B. Levy		Management	Withhold	For
1.7	Elect  Director Joe Roth		Management	For	For
1.8	Elect  Director Larry W. Sonsini		Management	Withhold	For
2	Approve Omnibus Stock Plan		Management	Against	For
3	Ratify Auditors		Management	For	For
QUALCOMM INC.
Ticker:  QCOM        Security ID:   747525103
Meeting Date:  Mar 8, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert E. Kahn		Management	For	For
1.2	Elect  Director Duane A. Nelles		Management	Withhold	For
1.3	Elect  Director Brent Scowcroft		Management	For	For
2	Declassify the Board of Directors/Eliminate Cum Vtg		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Amend Articles		Management	For	For
5	Ratify Auditors		Management	For	For
RED HAT, INC.
Ticker:  RHAT        Security ID:  756577102
Meeting Date:  Sep 21, 2004          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Gen. H. Hugh Shelton		Management	For	For
1.2	Elect  Director Eugene J. Mcdonald		Management	For	For
1.3	Elect  Director Matthew J. Szulik		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
RESEARCH IN MOTION LTD.	CH IN MOTION LTD
Ticker:  RIM            Security ID:  760975102
Meeting Date:  Jul 12, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Elect Michael Lazaridis, James Balsillie, Douglas		Management	For	For
	Fregin, Kendall Cork, James Estill, John Richardson,
	Douglas Wright as directors
2	Approve Ernst & Young LLP as Auditors and Auth		Management	For	For
	Board to Fix Remuneration of Auditors
3	Make Greater Effort to Locate Women for Board		Shareholder	For	Against
	Nomination and Senior Officer Positions
ROYAL CARIBBEAN CRUISES LTD.
Ticker:  RCL       Security ID:  V7780T103
Meeting Date:  May 17, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Laura Laviada		Management	For	For
1.2	Elect  Director Eyal Ofer		Management	For	For
1.3	Elect  Director William K. Reilly		Management	For	For
1.4	Elect  Director Arne A. Wilhelmson		Management	For	For
2	RATIFICATION OF APPOINTMENT OF		Management	For	For
	PRICEWATERHOUSECOOPERS LLP AS THE CO
	INDEPENDENT REGISTERED ACCOUNTING FIRM
	FOR 2005.
SANOFI-AVENTIS (FORMERLY SANOFI-SYNTHELABO)
Ticker:                        Security ID:   80105N105
Meeting Date:  Dec 23, 2004           Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Merger by Absorption of Aventis by Sanofi-		Management	For	For
	Aventis; aughorize issuance of 19.1 million shares to
	compensate Aventis Minority Shareholders
2	Approve Accounting Treatment oof absorption		Management	For	For
3	Assume Obligations of 257,248 outstanding Aventis		Management	For	For
	Warrants; Authorize Issuance of up to 301,984 Sanofi-
	Aventis Sshares to satisfy conversion of Aventis warrants
4	Assume Obligations of 48.08 Million outstanding Aventis stock options; authorize		Management	For	For
	stock options; authorize issuance of Sanofi-Aventis
	shares to satisfy conversion of Aventis stock options.
5	Set Dec. 31, 2004, as Effective date of merger and		Management	For	For
	Related Capital Increase to Aventis minority shareholders
6	Amend Articles to Reflect Changes in capital		Management	For	For
7	Approve Capital Increase Reserved for employees		Management	For	For
	participating in savings-related share purchase plan
8	Authorize Filing of Required documents/other		Management	For	For
	formalities
SANOFI-AVENTIS (FORMERLY SANOFI-SYNTHELABO)
Ticker:           Security ID:  80105N105
Meeting Date:  May 31, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	APPROVAL OF THE INDIVIDUAL COMPANY		Management	For	For
	FINANCIAL STATEMENTS
2	APPROVAL OF THE CONSOLIDATED FINANCIAL		Management	For	For
	STATEMENTS
3	APPROPRIATION OF PROFITS; DECLARATION OF		Management	For	For
	DIVIDEND
4	APPROVAL OF TRANSACTIONS COVERED BY THE		Management	For	For
	STATUTORY AUDITORS SPECIAL REPORT
5	Ratify Auditors		Management	For	For
6	Ratify Auditors		Management	For	For
7	AUTHORIZATION TO THE BOARD OF DIRECTORS		Management	For	For
	TO CARRY OUT TRANSACTIONS IN SHARES
	ISSUED BY THE COMPANY
8	TERMINATION OF THE AUTHORITY TO ISSUE BOND		Management	For	For
9	TO CARRY OUT INCREASES IN THE SHARE CAPITAL		Management	For	For
	BY ISSUANCE WITH PREEMPTIVE RIGHTS MAINTAINED
10	TO CARRY OUT INCREASES IN THE SHARE CAPITAL		Management	Against	For
	WITHOUT PREMPTIVE RIGHTS
11	TO CARRY OUT INCREASES IN THE SHARE CAPITAL BY INCORP		Management	For	For
	BY INCORPORATION OF SHARE PREMIUM, RESERVES
	PROFITS OR OTHER ITEMS
12	TO INCREASE THE NUMBER OF SHARES TO BE		Management	Against	For
	ISSUED IN THE EVENT OF A CAPITAL INCREASE
	WITH OR WITHOUT PREEMPTIVE RIGHTS
13	TO CARRY OUT INCREASES IN THE SHARE		Management	For	For
	CAPITAL BY ISSUANCE OF SHARES RESERVED
	FOR EMPLOYEES WITH WAIVER OF PREEMPTIVE
	RIGHTS
14	DELEGATION TO THE BOARD OF DIRECTORS OF		Management	Against	For
	AUTHORITY TO GRANT OPTIONS TO SUBSCRIBE
	FOR OR PURCHASE SHARES
15	DELEGATION TO THE BOARD TO ALLOT EXISTING		Management	Against	For
	OR NEW SHARES FREE OF CHARGE TO ALL OR
	SOME SALARIED EMPLOYEES OF THE GROUP
16	DELEGATION TO THE BOARD OF DIRECTORS OF		Management	For	For
	POWERS TO REDUCE THE SHARE CAPITAL BY
	CANCELLATION OF TREASURY SHARES
17	POWERS FOR THE ACCOMPLISHMENT OF		Management	For	For
	FORMALITIES
SCHLUMBERGER LTD
Ticker:   SLB          Security ID:  806857108
Meeting Date:  Apr 13, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director J. Deutch		Management	Withhold	For
1.2	Elect  Director J.S. Gorelick		Management	For	For
1.3	Elect  Director A. Gould		Management	For	For
1.4	Elect  Director T. Isaac		Management	For	For
1.5	Elect  Director A. Lajous		Management	For	For
1.6	Elect  Director A. Levy-Lang		Management	For	For
1.7	Elect  Director M.E. Marks		Management	For	For
1.8	Elect  Director D. Primat		Management	For	For
1.9	Elect  Director T.I. Sandvold		Management	For	For
1.1	Elect  Director N. Seydoux		Management	For	For
1.11	Elect  Director L.G. Stuntz		Management	For	For
1.12	Elect  Director R. Talwar		Management	For	For
2	ADOPTION AND APPROVAL OF FINANCIALS AND		Management	For	For
	DIVIDENDS
3	ADOPTION OF MANDATORY AMENDMENTS TO THE		Management	For	For
	ARTICLES OF INCORPORATION
4	ADOPTION OF VOLUNTARY AMENDMENTS TO THE		Management	For	For
	ARTICLES OF INCORPORATION
5	APPROVAL OF ADOPTION OF THE SCHLUMBERGER		Management	For	For
	2005 OPTION PLAN
6	APPROVAL OF ADOPTION OF AN AMENDMENT TO		Management	For	For
	THE SCHLUMBERGER DISCOUNTED STOCK
	PURCHASE PLAN
7	APPROVAL OF INDEPENDENT REGISTISTERED		Management	For	For
	PUBLIC ACCOUNTING FIRM
SEPRACOR INC.
Ticker:  SEPR         Security ID:   817315104
Meeting Date:  May 19, 2005         Meeting Type: Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Timothy J. Barberich		Management	For	For
2	Amend Omnibus Stock Plan		Management	Against	For
3	Ratify Auditors		Management	For	For
SEROLOGICALS CORP.
Ticker:  SERO         Security ID:   817523103
Meeting Date:  May 11, 2005                   Meeting Type:  Annual
Proposal
number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert J. Clanin		Management	For	For
1.2	Elect  Director Gerard M. Moufflet		Management	For	For
1.3	Elect  Director Lawrence E. Tilton		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Ratify Auditors		Management	For	For
SIGMATEL, INC.
Ticker:SGTL       Security ID:   82661W107
Meeting Date:  Apr 21, 2005             Meeting Type:  Annual
Propowal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Alexander M. Davern		Management	For	For
1.2	Elect  Director Robert T. Derby		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
SKYWORKS SOLUTIONS, INC.
Ticker:  SWKS          Security ID:   83088M102
Meeting Date:  Apr 28, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director David J. Aldrich		Management	Withhold	For
1.2	Elect  Director Moiz M. Beguwala		Management	Withhold	For
1.3	Elect  Director Dwight W. Decker		Management	Withhold	For
1.4	Elect  Director David P. McGlade		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Amend Non-Employee Director Stock Option Plan		Management	For	For
4	Ratify Auditors		Management	For	For
SPECTRASITE, INC.
Ticker:  SSI      Security ID:   84761M104
Meeting Date:  May 2, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Stephen H. Clark		Management	For	For
1.2	Elect  Director Timothy G. Biltz		Management	For	For
1.3	Elect  Director Paul M. Albert, Jr.		Management	For	For
1.4	Elect  Director John F. Chlebowski		Management	For	For
1.5	Elect  Director Dean J. Douglas		Management	For	For
1.6	Elect  Director Patricia L. Higgins		Management	For	For
1.7	Elect  Director Samme L. Thompson		Management	For	For
1.8	Elect  Director Kari-Pekka Wilska		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
ST. PAUL TRAVELERS COMPANIES, INC., THE
Ticker:  STA         Security ID:   792860108
Meeting Date:  May 3, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John H. Dasburg		Management	For	For
1.2	Elect  Director Leslie B. Disharoon		Management	For	For
1.3	Elect  Director Janet M. Dolan		Management	For	For
1.4	Elect  Director Kenneth M. Duberstein		Management	For	For
1.5	Elect  Director Jay S. Fishman		Management	For	For
1.6	Elect  Director Lawrence G. Graev		Management	Withhold	For
1.7	Elect  Director Thomas R. Hodgson		Management	For	For
1.8	Elect  Director Robert I. Lipp		Management	For	For
1.9	Elect  Director Blythe J. McGarvie		Management	For	For
1.1	Elect  Director Glen D. Nelson		Management	For	For
1.11	Elect  Director Clarence Otis, Jr.		Management	For	For
1.12	Elect  Director Charles W. Scharf		Management	For	For
1.13	Elect  Director Laurie J. Thomsen		Management	For	For
2	Ratify Auditors		Management	For	For
TIME WARNER INC.
Ticker:  TWX                Security ID:   887317105
Meeting Date:  May 20, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director James L. Barksddale		Management	For	For
1.2	Elect Director Stephen F. Bollenbach		Management	For	For
1.3	Elect Director Stephen M. Case		Management	For	For
1.4	Elect Director Frank J. Caufield		Management	For	For
1.5	Elect Director Robert C. Clark		Management	For	For
1.6	Elect Director Jessica P. Einhorn		Management	For	For
1.7	Elect Director Miles R. Gilburne		Management	For	For
1.8	Elect Director Carla A. Hills		Management	For	For
1.9	Elect Director Reuben Mark		Management	For	For
1.1	Elect Director Michael A. Miles		Management	For	For
1.11	Elect Director Kenneth J. Novack		Management	For	For
1.12	Elect Director Richard D. Parsons		Management	For	For
1.13	Elect Director R. E. Turner		Management	For	For
1.14	Elect Director Francis T. Vincent, Jr.		Management	For	For
1.15	Elect Director Deborah C. Wright		Management	For	For
2	Ratify Auditors		Management	For	For
3	Report on Pay Disparity		Shareholder	Against	Against
TYCO INTERNATIONAL, INC.
Ticker:   TYC        Security ID:   902124106
Meeting Date:    Mar 10, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dennis C. Blair		Management	For	For
1.2	Elect  Director Edward D. Breen		Management	For	For
1.3	Elect  Director George W. Buckley		Management	For	For
1.4	Elect  Director Brian Duperreault		Management	For	For
1.5	Elect  Director Bruce S. Gordon		Management	For	For
1.6	Elect  Director Rajiv L. Gupta		Management	For	For
1.7	Elect  Director John A. Krol		Management	For	For
1.8	Elect  Director Mackey J. Mcdonald		Management	Withhold	For
1.9	Elect  Director H. Carl Mccall		Management	For	For
1.1	Elect  Director Brendan R. O'Neill		Management	For	For
1.11	Elect  Director Sandra S. Wijnberg		Management	For	For
1.12	Elect  Director Jerome B. York		Management	For	For
2	Ratify Auditors		Management	For	For
UNITED TECHNOLOGIES CORP.
Ticker:    YTX          Security ID:    913017109
Meeting Date:  Apr 13, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director George David		Management	For	For
1.2	Elect Director Jean-Pierre Garnier		Management	For	For
1.3	Elect Director Jamie S. Gorelick		Management	For	For
1.4	Elect Director Charles R. Lee		Management	For	For
1.5	Elect Director Richard D. McCormick		Management	For	For
1.6	Elect Director Harold McGraw III		Management	For	For
1.7	Elect Director Frank P. Popoff		Management	For	For
1.8	Elect Director H. Patrick Swygert		Management	For	For
1.9	Elect Director Andre Villeneuve		Management	For	For
1.1	Elect Director H. A. Wagner		Management	For	For
1.11	Elect Director Christine Todd Whitman		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
4	Increase Disclosure of Executive Compensation		Shareholder	Against	Against
5	Adopt Ethical Criteria for Military Contracts		Shareholder	Against	Against
6	Limit Executive Compensation		Shareholder	Against	Against
UNITEDHEALTH GROUP INCORPORATED
Ticker:  UNH          Security ID:   91324P102
Meeting Date:   May 3, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Thomas H. Kean		Management	For	For
1.2	Elect  Director Robert L. Ryan		Management	For	For
1.3	Elect  Director William G. Spears		Management	For	For
1.4	Elect  Director Gail R. Wilensky, Ph.D.		Management	For	For
2	Ratify Auditors		Management	For	For
3	Performance- Based/Indexed Options		Shareholder	For	Against
4	Performance- Based/Indexed Options		Shareholder	For	Against
UTI WORLDWIDE INC.
Ticker:    UTIW        Security ID:   G87210103
Meeting Date   Jun 13, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Leon J. Level		Management	For	For
1.2	Elect  Director J. Simon Stubblings		Management	For	For
2	TO RATIFY THE APPOINTMENT OF DELOITTE &		Management	For	For
	TOUCHE LLP AS INDEPENDENT REGISTERED
	PUBLIC ACCOUNTANTS OF THE COMPANY
VERISIGN INC.
Ticker:    VRSN               Security ID:   92343E102
Meeting Date:   May 26, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Scott G. Kriens		Management	For	For
1.2	Elect  Director Len J. Lauer		Management	For	For
1.3	Elect  Director Stratton D. Sclavos		Management	For	For
2	Amend Non-Employee Director Stock Option Plan		Management	Against	For
3	Ratify Auditors		Management	For	For
WELLPOINT INC.
Ticker:   WLP       Security ID:   94973V107
Meeting Date:   May 10, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director William H.T. Bush		Management	For	For
1.2	Elect Director Warren Y. Jobe		Management	For	For
1.3	Elect Director William G. Mays		Management	For	For
1.4	Elect Director Senator Donald W. Riegle, Jr.		Management	For	For
1.5	Elect Director William J. Ryan		Management	For	For
2	Ratify Auditors		Management	For	For
3	Performance- Based/Indexed Options		Shareholder	For	Against
WELLS FARGO & COMPANY
Ticker:    WFC              Security ID:   949746101
Meeting Date:    Apr 26, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director J.A. Blanchard III		Management	For	For
1.2	Elect Director Susan E. Engel		Management	For	For
1.3	Elect Director Enrique Hernandez, Jr.		Management	For	For
1.4	Elect Director Robert L. Joss		Management	For	For
1.5	Elect Director Reatha Clark King		Management	For	For
1.6	Elect Director Richard M. Kovacevich		Management	For	For
1.7	Elect Director Richard D. McCormick		Management	For	For
1.8	Elect Director Cynthia H. Milligan		Management	Withhold	For
1.9	Elect Director Philip J. Quigley		Management	For	For
1.1	Elect Director Donald B. Rice		Management	Withhold	For
1.11	Elect Director Judith M. Runstad		Management	Withhold	For
1.12	Elect Director Stephen W. Sanger		Management	For	For
1.13	Elect Director Susan G. Swenson		Management	For	For
1.14	Elect Director Michael W. Wright		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
4	Adopt Policy on Payday Lenders		Shareholder	Against	Against
5	Link Executive Compensation to Predatory Lending		Shareholder	Against	Against
6	Performance- Based/Indexed Options		Shareholder	For	Against
7	Limit Executive Compensation		Shareholder	Against	Against
8	Separate Chairman and CEO Positions		Shareholder	For	Against
YAHOO!, INC.
Ticker:  YHOO                Security ID:   984332106
Meeting Date:  May 19, 2005           Meeting  Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Terry S. Semel		Management	For	For
1.2	Elect Director Jerry Yang		Management	For	For
1.3	Elect Director Roy J. Bostock		Management	For	For
1.4	Elect Director Ronald W. Burkle		Management	For	For
1.5	Elect Director Eric Hippeau		Management	For	For
1.6	Elect Director Arthur H. Kern		Management	Withhold	For
1.7	Elect Director Robert A. Kotick		Management	Withhold	For
1.8	Elect Director Edward R. Kozel		Management	For	For
1.9	Elect Director Gary L. Wilson		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Amend Non-Employee Director Stock Option		Management	For	For
4	Ratify Auditors		Management	For	For
SM&R ALGER GROWTH FUND
3M CO
Ticker:   MMM              Security ID:    88579Y101
Meeting Date:   May 10, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Vance D. Coffman		Management	For	For
1.2	Elect Director Rozanne L. Ridgway		Management	For	For
1.3	Elect Director Louis W. Sullivan		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
4	Eliminate Animal Testing		Shareholder	Against	Against
5	Implement China Principles		Shareholder	Against	Against
ABBOTT LABORATORIES
Ticker:  ABT            Security ID:   002824100
Meeting Date:  Apr 22, 2005            Meeting Type:   Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director R.S. Austin		Management	For	For
1.2	Elect Director W.S. Daley		Management	For	For
1.3	Elect Director H.L. Fuller		Management	For	For
1.4	Elect Director R.A. Gonzalez		Management	For	For
1.5	Elect Director J.M. Greenberg		Management	For	For
1.6	Elect Director J.M. Leiden		Management	For	For
1.7	Elect Director D.A.L. Owen		Management	For	For
1.8	Elect Director B. Powell Jr.		Management	For	For
1.9	Elect Director A.B. Rand		Management	For	For
1.1	Elect Director W.A. Reynolds		Management	For	For
1.11	Elect Director R.S. Roberts		Management	For	For
1.12	Elect Director W.D. Smithburg		Management	For	For
1.13	Elect Director J.R. Walter		Management	For	For
1.14	Elect Director M.D. White		Management	For	For
2	Ratify Auditors		Management	For	For
3	Link Executive Compensation to Government Fines		Shareholder	Against	Against
4	Performance- Based/Indexed Options		Shareholder	For	Against
5	Eliminate Animal Testing		Shareholder	Against	Against
6	Report on Political Contributions		Shareholder	Against	Against
7	Report on Operational Imact of HIV/AIDS, TB, and		Shareholder	Against	Against
	Malaria Pandemic
8	Separate Chairman and CEO Positions		Shareholder	Against	Against
ANALOG DEVICES, INC.
Ticker:  ADI           Security ID:   032654105
Meeting Date:  Mar 8, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John L. Doyle		Management	For	For
1.2	Elect  Director Christine King		Management	For	For
1.3	Elect  Director Ray Stata		Management	For	For
2	Ratify Auditors		Management	For	For
3	Expense Stock Options		Shareholder	For	Against
APPLE COMPUTER, INC.
Ticker:   AAPL           Security ID:  037833100
Meeting Date:   Apr 21, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Fred D. Anderson		Management	For	For
1.2	Elect  Director William V. Campbell		Management	For	For
1.3	Elect  Director Millard S. Drexler		Management	For	For
1.4	Elect  Director Albert A. Gore, Jr.		Management	For	For
1.5	Elect  Director Steven P. Jobs		Management	For	For
1.6	Elect  Director Arthur D. Levinson		Management	For	For
1.7	Elect  Director Jerome B. York		Management	For	For
2	Approve Executive Incentive Bonus Plan		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Amend Qualified Employee Stock Purchase Plan		Management	For	For
5	Ratify Auditors		Management	For	For
6	Performance- Based/Indexed Options		Shareholder	For	Against
AUTOMATICK DATA PROCESSING, INC.
Ticker:  ADP             Security ID:   053015103
Meeting Date:    Nov 9, 2004          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Gregory D. Brenneman		Management	For	For
1.2	Elect  Director Leslie A. Brun		Management	For	For
1.3	Elect  Director Gary C. Butler		Management	For	For
1.4	Elect  Director Joseph A. Califano, Jr.		Management	For	For
1.5	Elect  Director Leon G. Cooperman		Management	For	For
1.6	Elect  Director R. Glenn Hubbard		Management	For	For
1.7	Elect  Director Ann Dibble Jordan		Management	For	For
1.8	Elect  Director Harvey M. Krueger		Management	For	For
1.9	Elect  Director Frederic V. Malek		Management	For	For
1.1	Elect  Director Henry Taub		Management	For	For
1.11	Elect  Director Arthur F. Weinback		Management	For	For
2	Ratify Auditors		Management	For	For
AVAYA INC.
Ticker:  AV         Security ID:   053499109
Meeting Date:  Feb 15, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Philip A. Odeen		Management	For	For
1.2	Elect  Director Hellene S. Runtagh		Management	For	For
1.3	Elect  Director Paula Stern		Management	For	For
1.4	Elect  Director Richard F. Wallman		Management	For	For
BJ SERVICES COMPANY
Ticker:   BJS           Security ID:   055482103
Meeting Date:  Mar 24, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director L. William Heiligbrodt		Management	For	For
1.2	Elect Director James L. Payne		Management	For	For
1.3	Elect Director J.W. Stewart		Management	For	For
BP PLC (FORM. BP AMOCO PLC)
Ticker:  BP.PP            Security ID:   055622104
Meeting Date:  Apr 14, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dr D C Allen		Management	For	For
1.2	Elect  Director Lord Browne		Management	For	For
1.3	Elect  Director Mr J H  Bryan		Management	For	For
1.4	Elect  Director Mr A  Burgmans		Management	For	For
1.5	Elect  Director Mr I C  Conn		Management	For	For
1.6	Elect  Director Mr E B  Davis, Jr.		Management	For	For
1.7	Elect  Director Mr D J  Flint		Management	For	For
1.8	Elect  Director Dr B E  Grote		Management	For	For
1.9	Elect  Director Dr A B  Hayward		Management	For	For
1.1	Elect  Director Dr D S  Julius		Management	For	For
1.11	Elect  Director Sir Tom Mckillop		Management	For	For
1.12	Elect  Director Mr J A  Manzoni		Management	For	For
1.13	Elect  Director Dr W E  Massey		Management	For	For
1.14	Elect  Director Mr H M P  Miles		Management	For	For
1.15	Elect  Director Sir Ian Prosser		Management	For	For
1.16	Elect  Director Mr M H Wilson		Management	For	For
1.17	Elect  Director Mr P D Sutherland		Management	For	For
2	Ratify Auditors		Management	For	For
3	TO GIVE AUTHORITY TO ALLOT SHARES UP TO A		Management	For	For
	SPECIFIED AMOUNT
4	SPECIAL RESOLUTION: TO GIVE AUTHORITY TO		Management	For	For
	ALLOT A LIMITED NUMBER OF SHARES FOR CASH				SH
	WITHOUT MAKING AN OFFER TO SHAREHOLDERS
5	SPECIAL RESOLUTION: TO GIVE LIMITED		Management	For	For
	AUTHORITY FOR THE PURCHASE OF ITS OWN
	SHARES BY THE COMPANY
6	TO APPROVE THE DIRECTORS  REMUNERATION		Management	For	For
	REPORT
7	TO APPROVE THE RENEWAL OF EXECUTIVE		Management	For	For
	DIRECTORS  INCENTIVE PLAN
8	TO RECEIVE THE DIRECTORS  ANNUAL REPORT		Management	For	For
	AND THE ACCOUNTS
CAREMARK RX, INC.
Ticker:  CMX             Security ID:   141705103
Meeting Date:  May 11, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Edwin M. Crawford		Management	For	For
1.2	Elect Director Kristen Gibney Williams		Management	For	For
1.3	Elect Director Edward L. Hardin		Management	For	For
2	Report on Political Contributions		Shareholder	Against	Against
CARNIVAL CORP.
Ticker:  CCL           Security ID:   143658300
Meeting Date:  Apr 13, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Micky Arison		Management	For	For
1.2	Elect  Director Amb Richard G. Capen, Jr.		Management	For	For
1.3	Elect  Director Robert H. Dickinson		Management	For	For
1.4	Elect  Director Arnold W. Donald		Management	For	For
1.5	Elect  Director Pier Luigi Foschi		Management	For	For
1.6	Elect  Director Howard S. Frank		Management	For	For
1.7	Elect  Director Richard J. Glasier		Management	For	For
1.8	Elect  Director Baroness Hogg		Management	For	For
1.9	Elect  Director A. Kirk Lanterman		Management	For	For
1.1	Elect  Director Modesto A. Maidique		Management	For	For
1.11	Elect  Director John P. Mcnulty		Management	For	For
1.12	Elect  Director Sir John Parker		Management	For	For
1.13	Elect  Director Peter G. Ratcliffe		Management	For	For
1.14	Elect  Director Stuart Subotnick		Management	For	For
1.15	Elect  Director Uzi Zucker		Management	For	For
2	TO APPROVE THE AMENDED AND RESTATED		Management	For	For
	CARNIVAL CORPORATION 2001 OUTSIDE
	DIRECTOR STOCK PLAN.
3	TO APPROVE THE CARNIVAL PLC 2005 EMPLYEE		Management	For	For
	SHARE PLAN.
4	TO APPROVE THE CARNIVAL PLC 2005 EMPLYEE		Management	For	For
	STOCK PURCHASE PLAN.
5	Ratify Auditors		Management	For	For
6	TO AUTHORIZE THE AUDIT COMMITTEE OF		Management	For	For
	CARNIVAL PLC TO AGREE THE REMUNERATIONOF
	THE INDEPENDENT AUDITORS.
7	TO RECEIVE THE ACCOUNTS AND REPORTS FOR		Management	For	For
	CARNIVAL PLC FOR THE FINANCIAL YEAR ENDED
	NOVEMBER 30, 2004.
8	TO APPROVE THE DIRECTORS  REMUNERATION		Management	For	For
	REPORT OF CARNIVAL PLC.
9	TO APPROVE LIMITS ON THE AUTHORITY TO		Management	For	For
	ALLOT SHARES BY CARNIVAL PLC.
10	TO APPROVE THE DISAPPLICATION OF		Management	For	For
	PRE-EMPTION RIGHTS FOR CARNIVAL PLC
11	TO APPROVE A GENERAL AUTHORITY FOR		Management	For	For
	CARNIVAL PLC TO BUY BACK CARNIVAL PLC
	ORDINARY SHARES IN THE OPEN MARKET
CATERPILLAR INC.
Ticker:  CAT              Security ID:   149123101
Meeting Date:  Apr 13, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director W. Frank Blount		Management	For	For
1.2	Elect Director John R. Brazil		Management	For	For
1.3	Elect Director Eugene V. Fife		Management	For	For
1.4	Elect Director Gaul D. Fosler		Management	For	For
1.5	Elect Director Peter A. Magowan		Management	For	For
2	Ratify Auditors		Management	For	For
3	Submit Shareholder Rights Plan (Poison		Shareholder	For	Against
	Pill) to Shareholder Vote
4	Report on Equipment Sales to Israel		Shareholder	Against	Against
5	Report on Operational Imact of HIV/AIDS, TB, and		Shareholder	Against	Against
	Malaria Pandemic
6	Require a Majority Vote for the Election		Shareholder	For	Against
	of Directors
CIGNA CORP
Ticker:  CI          Security ID:  125509109
Meeting Date:  Apr 27, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Peter N. Larson		Management	For	For
1.2	Elect Director Carol Cox Wait		Management	For	For
1.3	Elect Director William D. Zollers		Management	For	For
1.4	Elect Director Marilyn Ware		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
CISCO SYSTEMS, INC.
Ticker:  CSCO        Security ID:   17275R102
Meeting Date:  Nov 18, 2004          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Carol A. Bartz		Management	For	For
1.2	Elect  Director M. Michele Burns		Management	For	For
1.3	r		Management	For	For
1.4	Elect  Director John T. Chambers		Management	For	For
1.5	Elect  Director Dr. James F. Gibbons		Management	For	For
1.6	Elect  Director Dr. John L. Hennessy		Management	For	For
1.7	Elect  Director Roderick C. McGeary		Management	For	For
1.8	Elect  Director James C. Morgan		Management	For	For
1.9	Elect  Director John P. Morgridge		Management	For	For
1.1	Elect  Director Donald T. Valentine		Management	For	For
1.11	Elect  Director Steven M. West		Management	For	For
1.12	Elect  Director Jerry Yang		Management	For	For
2	Ratify Auditors		Management	For	For
3	Report on Pay Disparity		Shareholder	Against	Against
CITIGROUP INC.
Ticker:  C        Security ID:   172967101
Meeting Date:  Apr 19, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director C. Michael Armstrong		Management	For	For
1.2	Elect  Director Alain J.P. Belda		Management	For	For
1.3	Elect  Director George David		Management	For	For
1.4	Elect  Director Kenneth T. Derr		Management	For	For
1.5	Elect  Director John M. Deutch		Management	For	For
1.6	Elect  Director Roberto Hernandez Ramirez		Management	For	For
1.7	Elect  Director Ann Dibble Jordan		Management	For	For
1.8	Elect  Director Klaus Kleinfeld		Management	For	For
1.9	Elect  Director Dudley C. Mecum		Management	For	For
1.1	Elect  Director Anne Mulcahy		Management	For	For
1.11	Elect  Director Richard D. Parsons		Management	For	For
1.12	Elect  Director Charles Prince		Management	For	For
1.13	Elect  Director Judith Rodin		Management	For	For
1.14	Elect  Director Robert E. Rubin		Management	For	For
1.15	Elect  Director Franklin A. Thomas		Management	For	For
1.16	Elect  Director Sanford I. Weill		Management	For	For
1.17	Elect  Director Robert B. Willumstad		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Limit/Prohibit Awards to Executives		Shareholder	Against	Against
5	Report on Political Contributions		Shareholder	Against	Against
6	Prohibit Chairman From Mgmt Dutes, Titles or Resp.		Shareholder	For	Against
7	Limit Executive Compensation		Shareholder	Against	Against
8	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
9	Review/Limit Executive Compensation		Shareholder	Against	Against
10	Adopt Simple Majority Vote		Shareholder	For	Against
COCA-COLA COMPANY, THE
Ticker:  KO           Security ID:   191216100
Meeting Date:  Apr 19, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Herbert A. Allen		Management	For	For
1.2	Elect  Director Ronald W. Allen		Management	For	For
1.3	Elect  Director Cathleen P. Black		Management	For	For
1.4	Elect  Director Warren E. Buffett		Management	Withhold	For
1.5	Elect  Director Barry Diller		Management	For	For
1.6	Elect  Director E. Neville Isdell		Management	For	For
1.7	Elect  Director Donald R. Keough		Management	For	For
1.8	Elect  Director Maria Elena Lagomasino		Management	For	For
1.9	Elect  Director Donald F. McHenry		Management	For	For
1.1	Elect  Director Sam Nunn		Management	For	For
1.11	Elect  Director J. Pedro Reinhard		Management	For	For
1.12	Elect  Director James D. Robinson III		Management	For	For
1.13	Elect Director Peter V. Ueberroth		Management	For	For
1.14	Elect  Director James B. Williams		Management	For	For
2	Ratify Auditors		Management	For	For
3	Review Labor Rights in Columbia		Shareholder	Against	Against
4	Performance- Based/Indexed Options		Shareholder	For	Against
5	Submit Severance Agreement to Shareholder Vote		Shareholder	For	Against
CVS CORPORATION
Ticker:  CVS           Security ID:   126650100
Meeting Date:   May 12, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director W. Don Cornwell		Management	For	For
1.2	Elect Director Thomas P. Gerrity		Management	For	For
1.3	Elect Director Stanley P. Goldstein		Management	For	For
1.4	Elect Director Marian L. Heard		Management	For	For
1.5	Elect Director William H. Joyce		Management	Withhold	For
1.6	Elect Director Terrence Murray		Management	For	For
1.7	Elect Director Sheli Z. Rosenberg		Management	For	For
1.8	Elect Director Thomas M. Ryan		Management	For	For
1.9	Elect Director Alfred J. Verrecchia		Management	For	For
2	Ratify Auditors		Management	For	For
3	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
4	Performance- Based/Indexed Options		Shareholder	Against	Against
5	Review/Limit Executive Compensation		Shareholder	Against	Against
DOW CHEMICAL COMPANY, THE
Ticker:  DOW            Security ID:   260543103
Meeting Date:  May 12, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jacqueline K.Barton		Management	For	For
1.2	Elect  Director Anthony J. Carbone		Management	For	For
1.3	Elect  Director Barbara H. Franklin		Management	For	For
1.4	Elect  Director Andrew N. Liveris		Management	For	For
1.5	Elect  Director Harold T. Shapiro		Management	For	For
2	Ratify Auditors		Management	For	For
3	Report on Persistent Bioaccumulative and		Shareholder	Against	Against
	Toxic Chemicals
EASTMAN KODAK CO.
Ticker:  EK               Security ID:  277461109
Meeting Date:  May 11, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Richard S. Braddock		Management	For	For
1.2	Elect  Director Daniel A. Carp		Management	For	For
1.3	Elect  Director Durk I. Jager		Management	For	For
1.4	Elect  Director Debra L. Lee		Management	For	For
1.5	Elect  Director Antonio M. Perez		Management	For	For
1.6	Elect  Director Michael J. Hawley		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
4	Amend Executive Incentive Bonus Plan		Management	For	For
5	Declassify the Board of Directors		Management	For	For
6	Amend Articles		Management	For	For
7	Amend Articles		Management	For	For
EBAY INC.
Ticker:  EBAY               Security ID:   278642103
Meeting Date:  Jun 23, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Fred D. Anderson		Management	For	For
1.2	Elect  Director Edward W. Barnholt		Management	For	For
1.3	Elect  Director Scott D. Cook		Management	For	For
1.4	Elect  Director Robert C. Kagle		Management	For	For
2	Approve Executive Incentive Bonus Plan		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Ratify Auditors		Management	For	For
5	Performance- Based/Indexed Options		Shareholder	For	Against
6	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
ENTERGY CORP.
Ticker:  ETR               Security ID:   29364G103
Meeting Date:   May 13, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Maureen Scannel Bateman		Management	For	For
1.2	Elect Director W. Frank Blount		Management	For	For
1.3	Elect Director Simon D. deBree		Management	For	For
1.4	Elect Director Claiborne P. Deming		Management	For	For
1.5	Elect Director Alexis Herman		Management	For	For
1.6	Elect Director Donald C. Hintz		Management	For	For
1.7	Elect Director J. Wayne Leonard		Management	For	For
1.8	Elect Director Robert v.d. Luft		Management	For	For
1.9	Elect Director Kathleen A. Murphy		Management	For	For
1.1	Elect Director James R. Nichols		Management	For	For
1.11	Elect Director William A. Percy, II		Management	For	For
1.12	Elect Director Dennis H. Reilley		Management	For	For
1.13	Elect Director Steven V. Wilkinson		Management	For	For
2	Ratify Auditors		Management	For	For
3	Require the Chairman of the Board be an Ind. Director		Shareholder	For	Against
4	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
EXXON MOBIL CORP.
Ticker:  XOM            Security ID:   30231G102
Meeting Date:  May 25, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael J. Boskin		Management	For	For
1.2	Elect  Director William W. George		Management	For	For
1.3	Elect  Director James R. Houghton		Management	For	For
1.4	Elect  Director William R. Howell		Management	For	For
1.5	Elect  Director Reatha Clark King		Management	For	For
1.6	Elect  Director Philip E. Lippincott		Management	For	For
1.7	Elect  Director Henry A. McKinnell, Jr.		Management	For	For
1.8	Elect  Director Marilyn Carlson Nelson		Management	For	For
1.9	Elect  Director Lee R. Raymond		Management	For	For
1.1	Elect  Director Walter V. Shipley		Management	For	For
1.11	Elect  Director Rex W. Tillerson		Management	For	For
2	Ratify Auditors		Management	For	For
3	Political Contributions/Activities		Shareholder	Against	Against
4	Review/Limit Executive Compensation		Shareholder	Against	Against
5	Nominate Independent Directors w Industry Experience		Shareholder	Against	Against
6	Report on Payments to Indonesian Military		Shareholder	Against	Against
7	Adopt Policy Prohibiting Discrimination based on		Shareholder	For	Against
	Sexual Orientation
8	Report on Potential Damage of Drilling in Prot Regions		Shareholder	Against	Against
9	Disclose Information Supporting the Company Position		Shareholder	Against	Against
	on Climate Change
10	Report on Company Policies for Compliance with the		Shareholder	For	Against
	with the Kyoto Protocol
FEDEX CORPORATION
Ticker:  FDX              Security ID:  31428x106
Meeting Date:  Sep 27, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Charles T. Manatt		Management	For	For
1.2	Elect  Director Judith L. Estrin		Management	For	For
1.3	Elect  Director Philip Greer		Management	For	For
1.4	Elect  Director J.R. Hyde, III		Management	For	For
1.5	Elect  Director Shirley A. Jackson		Management	For	For
1.6	Elect  Director Frederick W. Smith		Management	For	For
2	Declassify the Board of Directors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
4	Ratify Auditors		Management	For	For
FREESCALE SEMICONDUCTOR, INC.
Ticker:  FSL           Security ID:   35687M107
Meeting Date:  Apr 29, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director H. Raymond Bingham		Management	For	For
1.2	Elect  Director Stephen P. Kaufman		Management	For	For
2	Amend Articles		Management	For	For
3	Amend Bylaws		Management	For	For
4	Approve Omnibus Stock Plan		Management	Against	For
5	Ratify Auditors		Management	For	For
GENERAL DYNAMICS CORP.
Ticker:  GD          Security ID:   369550108
Meeting Date:  May 4, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Nicholas D. Chabraja		Management	Withhold	For
1.2	Elect Director James S. Crown		Management	Withhold	For
1.3	Elect Director Lester Crown		Management	Withhold	For
1.4	Elect Director William P. Fricks		Management	Withhold	For
1.5	Elect Director Charles H. Goodman		Management	Withhold	For
1.6	Elect Director Jay L. Johnson		Management	Withhold	For
1.7	Elect Director George A. Joulwan		Management	Withhold	For
1.8	Elect Director Paul G. Kaminski		Management	Withhold	For
1.9	Elect Director John M. Keane		Management	Withhold	For
1.1	Elect Director Lester L. Lyles		Management	Withhold	For
1.11	Elect Director Carl E. Mundy, Jr.		Management	Withhold	For
1.12	Elect Director Robert Walmsley		Management	Withhold	For
2	Ratify Auditors		Management	For	For
3	Limit Executive Compensation		Shareholder	For	Against
4	Report on Foreign Weapons Sales		Shareholder	Against	Against
GENERAL ELECTRIC CO.
Ticker:  GE         Security ID:   369604103
Meeting Date:  Apr 27, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James I. Cash,Jr.		Management	For	For
1.2	Elect  Director William M. Castell		Management	For	For
1.3	Elect  Director Dennis D. Dammerman		Management	For	For
1.4	Elect  Director Ann M. Fudge		Management	For	For
1.5	Elect  Director Claudio X. Gonzalez		Management	Withhold	For
1.6	Elect  Director Jeffrey R. Immelt		Management	For	For
1.7	Elect  Director Andrea Jung		Management	For	For
1.8	Elect  Director Alan G. Lafley		Management	For	For
1.9	Elect  Director Ralph S. Larsen		Management	For	For
1.1	Elect  Director Rochelle B. Lazarus		Management	For	For
1.11	Elect  Director Sam Nunn		Management	For	For
1.12	Elect  Director Roger S. Penske		Management	For	For
1.13	Elect  Director Robert J. Swierinnga		Management	For	For
1.14	Elect  Director Douglas A. Warner III		Management	For	For
1.15	Elect  Director Robert C. Wright		Management	For	For
2	Ratify Auditors		Management	For	For
3	Provide for Cumulative Voting		Shareholder	Against	Against
4	Report on Nuclear Fuel Storage Risks		Shareholder	Against	Against
5	Report on PCB Clean-up Costs		Shareholder	For	Against
6	Adopt Policy on Overboarded Directors		Shareholder	For	Against
7	Prepare a Sustainability Report		Shareholder	Against	Against
8	Political Contributions/Activities		Shareholder	Against	Against
9	Eliminate Animal Testing		Shareholder	Against	Against
GILLETTE CO., THE
Ticker:  G         Security ID:   375766102
Meeting Date:  May 12, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael B. Gifford		Management	For	For
1.2	Elect  Director Ray J. Groves		Management	For	For
1.3	Elect  Director Fred H. Langhammer		Management	Withhold	For
1.4	Elect  Director Marjorie M. Yang		Management	Withhold	For
2	Ratify Auditors		Management	For	For
GOOGLE INC
Ticker:   GOOG         Security ID:   38259P508
Meeting Date   May 12, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Eric Schmidt		Management	For	For
1.2	Elect  Director Larry Page		Management	For	For
1.3	Elect  Director Sergey Brin		Management	For	For
1.4	Elect  Director L. John Doerr		Management	Withhold	For
1.5	Elect  Director John L. Hennesy		Management	For	For
1.6	Elect  Director Arthur D. Levinson		Management	For	For
1.7	Elect  Director Michael Moritz		Management	For	For
1.8	Elect  Director Paul S. Otellini		Management	For	For
1.9	Elect  Director K. Ram Shriram		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	Against	For
HARRAH'S ENTERTAINMENT, Inc.
Ticker:  HET           Security ID:   413619107
Meeting Date:  Apr 28, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Barbara T. Alexander		Management	For	For
1.2	Elect  Director Frank J. Biondi, Jr.		Management	For	For
1.3	Elect  Director Robert G. Miller		Management	For	For
1.4	Elect  Director Christopher J. Williams		Management	For	For
2	Ratify Auditors		Management	For	For
HARRAH'S ENTERTAINMENT, Inc.
Ticker:  HET           Security ID:   413619107
Meeting Date:  Mar 11, 2005                Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Issue Shares in Connection with an Acquisition		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
HCA, INC.
Ticker:  HCA               Security ID:   404119109
Meeting Date:  May 26, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director C. Michael Armstrong		Management	For	For
1.2	Elect  Director Magdalena H. Averhoff, M.D.		Management	For	For
1.3	Elect  Director Jack O. Bovender, Jr.		Management	For	For
1.4	Elect  Director Richard M. Bracken		Management	For	For
1.5	Elect  Director Martin Feldstein		Management	For	For
1.6	Elect  Director Thomas F. Frist, Jr. M.D.		Management	For	For
1.7	Elect  Director Frederick W. Gluck		Management	For	For
1.8	Elect  Director Glenda A. Hatchett		Management	For	For
1.9	Elect  Director Charles O. Holliday, Jr.		Management	For	For
1.1	Elect  Director T. Michael Long		Management	For	For
1.11	Elect  Director John H. McArthur		Management	For	For
1.12	Elect  Director Kent C. Nelson		Management	For	For
1.13	Elect  Director Frank S. Royal, M.D.		Management	For	For
1.14	Elect  Director Harold T. Shapiro		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	Against	For
HILTON HOTELS CORP.
Ticker:  HLT           Security ID:   432848109
Meeting Date:  May 26, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Stephen F. Bollenbach		Management	For	For
1.2	Elect Director Barbara Bell Coleman		Management	For	For
1.3	Elect Director Benjamin V. Lambert		Management	For	For
1.4	Elect Director John L. Notter		Management	For	For
1.5	Elect Director Peter V. Ueberroth		Management	For	For
2	Ratify Auditors		Management	For	For
3	Submit Severance Agreement		Shareholder	For	Against
	(Change-in-Control) to Shareholder Vote
4	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
HUMANA INC.
Ticker:  HUM            Security ID:   444859102
Meeting Date:  Apr 26, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director David A. Jones, Jr.		Management	For	For
1.2	Elect  Director Frank A. D'Amelio, Jr.		Management	For	For
1.3	Elect  Director W. Roy Dunbar		Management	For	For
1.4	Elect  Director John R. Hall		Management	For	For
1.5	Elect  Director Kurt J. Hilzinger		Management	For	For
1.6	Elect  Director Michael B. Mccallister		Management	For	For
1.7	Elect  Director W. Ann Reynolds, Ph.D.		Management	For	For
INTEL CORP
Ticker:   INTC                Security ID:   458140100
Meeting Date:  Mar 21, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Craig R. Barrett		Management	For	For
1.2	Elect Director Charlene Barshefsky		Management	For	For
1.3	Elect Director E. John P. Browne		Management	For	For
1.4	Elect Director D. James Guzy		Management	For	For
1.5	Elect Director Reed E. Hundt		Management	For	For
1.6	Elect Director Paul S. Otellini		Management	For	For
1.7	Elect Director David S. Pottruck		Management	For	For
1.8	Elect Director Jane E. Shaw		Management	For	For
1.9	Elect Director John L. Thornton		Management	For	For
1.1	Elect Director David B. Yoffie		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Amend Executive Incentive Bonus Plan		Management	For	For
JOHNSON & JOHNSON
Ticker:  JNJ             Security ID:   478160104
Meeting Date:  Apr 28, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Mary Sue Coleman		Management	For	For
1.2	Elect  Director James G. Cullen		Management	For	For
1.3	Elect  Director Robert J. Darretta		Management	For	For
1.4	Elect  Director Michael M. E. Johns		Management	For	For
1.5	Elect  Director Ann Dibble Jordan		Management	For	For
1.6	Elect  Director Arnold G. Langbo		Management	For	For
1.7	Elect  Director Susan L. Lindquist		Management	For	For
1.8	Elect  Director Leo F. Mullin		Management	For	For
1.9	Elect  Director Christine A. Poon		Management	For	For
1.1	Elect  Director Steven S. Reinemund		Management	For	For
1.11	Elect  Director David Satcher		Management	For	For
1.12	Elect  Director William C. Weldon		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
KOHL'S CORP.
Ticker:   KSS               Security ID:   500255104
Meeting Date:  Apr 27, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director James D. Ericson		Management	For	For
1.2	Elect Director William S. Kellogg		Management	For	For
1.3	Elect Director Arlene Meier		Management	For	For
1.4	Elect Director R. Elton White		Management	For	For
2	Ratify Auditors		Management	For	For
3	Declassify the Board of Directors		Shareholder	For	Against
4	Submit Severance Agreement		Shareholder	For	Against
	(Change-in-Control) to Shareholder Vote
LEHMAN BROTHERS HOLDINGS INC.
Ticker:  LEH           Security ID:   524908100
Meeting Date   Apr 5, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael L. Ainslie		Management	For	For
1.2	Elect  Director John F. Akers		Management	For	For
1.3	Elect  Director Richard S. Fuld, Jr.		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	Against	For
4	Limit Executive Compensation		Shareholder	Against	Against
LINEAR TECHNOLOGY CORP.
Ticker:  LLTC               Security ID:   535678106
Meeting Date:  Nov 3, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert H. Swanson, Jr.		Management	For	For
1.2	Elect  Director David S. Lee		Management	For	For
1.3	Elect  Director Leo T. McCarthy		Management	For	For
1.4	Elect  Director Richard M. Moley		Management	For	For
1.5	Elect  Director Thomas S. Volpe		Management	For	For
2	Ratify Auditors		Management	For	For
LOWE'S COMPANIES, INC.
Ticker:  LOW             Security ID:   548661107
Meeting Date:  May 27, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Robert A. Ingram		Management	For	For
1.2	Elect Director Richard K. Lochridge		Management	For	For
1.3	Elect Director Robert L. Johnsson		Management	For	For
2	Amend Non-Employee Director Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
MAXIM INTEGRATED PRODUCTS, INC.
Ticker:  MXIM             Security ID:   57772K101
Meeting Date:  Sep 17, 2004            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Amend Omnibus Stock Plan		Management	Against	For
MBNA CORP.
Ticker:  KRB              Security ID:   55262L100
Meeting Date:  May 2, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James H. Berick		Management	Withhold	For
1.2	Elect  Director Mary M. Boies		Management	For	For
1.3	Elect  Director Benjamin R. Civiletti		Management	Withhold	For
1.4	Elect  Director Bruce L. Hammonds		Management	Withhold	For
1.5	Elect  Director William L. Jews		Management	Withhold	For
1.6	Elect  Director Randolph D. Lerner		Management	Withhold	For
1.7	Elect  Director Stuart L. Markowitz, M.D.		Management	Withhold	For
1.8	Elect  Director William B. Milstead		Management	Withhold	For
1.9	Elect  Director Thomas G. Murdough, Jr.		Management	For	For
1.1	Elect  Director Laura S. Unger		Management	For	For
2	Ratify Auditors		Management	For	For
3	Expense Stock Options		Shareholder	For	Against
4	Performance- Based/Indexed Options		Shareholder	For	Against
MEDTRONIC, INC.
Ticker:  MDT           Security ID:  585055106
Meeting Date:  Aug 26, 2004          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director William R. Brody, M.D., Ph.D.		Management	For	For
1.2	Elect  Director Arthur D. Collins, Jr.		Management	For	For
1.3	Elect  Director Antonio M. Gotto, Jr., M.D., D. Phil.		Management	For	For
2	Ratify Auditors		Management	For	For
3	Charitable Contributions		Shareholder	Against	Against
MERRIL LYNCH & CO., INC.
Ticker:  MER                   Security ID:   590188108
Meeting Date:  Apr 22, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jill K. Conway		Management	For	For
1.2	Elect  Director Heinz-Joachim Neuburger		Management	For	For
1.3	Elect  Director E. Stanley O'Neal		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Non-Employee Director Restr. Stock Plan		Management	For	For
4	Provide for Cumulative Voting		Shareholder	For	Against
5	Limit Executive Compensation		Shareholder	Against	Against
MGM MIIRAGE
Ticker:  MGM              Security ID:   552953101
Meeting Date:  May 3, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James D. Aljian		Management	Withhold	For
1.2	Elect  Director Robert H. Baldwin		Management	Withhold	For
1.3	Elect Director Terry N. Christensen		Management	Withhold	For
1.4	Elect  Director Willie D. Davis		Management	Withhold	For
1.5	Elect  Director Alexander M. Haig, Jr.		Management	Withhold	For
1.6	Elect  Director Alexis M. Herman		Management	For	For
1.7	Elect  Director Roland Hernandez		Management	For	For
1.8	Elect  Director Gary N. Jacobs		Management	Withhold	For
1.9	Elect  Director Kirk Kerkorian		Management	Withhold	For
1.1	Elect  Director J. Terrence Lanni		Management	Withhold	For
1.11	Elect  Director George J. Mason		Management	For	For
1.12	Elect  Director James J. Murren		Management	Withhold	For
1.13	Elect  Director Ronald M. Popeil		Management	For	For
1.14	Elect  Director John T. Redmond		Management	Withhold	For
1.15	Elect  Director Daniel M. Wade		Management	Withhold	For
1.16	Elect  Director Melvin B. Wolzinger		Management	For	For
1.17	Elect  Director Alex Yemenidjian		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Approve Omnibus Stock Plan		Management	Against	For
4	Ratify Auditors		Management	For	For
MICROSOFT CORP.
Ticker:  MSFT               Security ID:   594918104
Meeting Date:  Nov 9, 2004           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director William H. Gates III		Management	For	For
1.2	Elect  Director Steven A. Ballmer		Management	For	For
1.3	Elect  Director James I. CashJr. , Ph. D.		Management	For	For
1.4	Elect  Director Raymond V. Gilmartin		Management	For	For
1.5	Elect  Director Ann McLaughlin Korologos		Management	For	For
1.6	Elect  Director David F. Marquardt		Management	For	For
1.7	Elect  Director Charles H. Noski		Management	For	For
1.8	Elect  Director Dr. Helmut Panke		Management	For	For
1.9	Elect  Director Jon A. Shirley		Management	For	For
2	Amend Bundled Compensation Plans		Management	For	For
3	Amend Bundled Compensation Plans		Management	For	For
4	Amend Stock Option Plan		Management	For	For
5	Ratify Auditors		Management	For	For
NATIONAL OILWELL VARCO INC.
Ticker:  NOV              Security ID:  637071101
Meeting Date:  Mar 11, 2005            Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Merger Agreement		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Adjourn Meeting		Management	Against	For
4	Other Business		Management	Against	For
NETFLIX, ILNC.
Ticker:  NFLX               Security ID:   64110L106
Meeting Date:  May 11, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jay C. Hoag		Management	For	For
1.2	Elect  Director Reed Hastings		Management	For	For
2	Ratify Auditors		Management	For	For
NIKE, INC.
Ticker:  NKE                  Security ID:   654106103
Meeting Date:  Sep 20, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jill K. Conway		Management	For	For
1.2	Elect  Director Alan B. Graf, Jr.		Management	For	For
1.3	Elect Director Jeanne P. Jackson		Management	For	For
2	Ratify Auditors		Management	For	For
NOKIA CORP.
Ticker:  NKCAF                  Security ID:   654902204
Meeting Date:  APR 7, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
2	APPROVAL OF THE INCOME STATEMENTS AND		Management	For	For
	BALANCE SHEET.
3	APPROVAL OF A PROPOSAL TO THE ANNUAL		Management	For	For
	GENERAL MEETING OF A DIVIDEND OF EUR .33
	PER SHARE.
4	DISCHARGE OF THE CHAIRMAN, THE MEMBERS OF THE BOARD		Management	For	For
	THE BOARD OF DIRECTORS, AND THE PRESIDENT
	FROM LIABILITY.
6	PROPOSAL ON THE COMPOSITION OF THE BOARD		Management	For	For
	AS PROPOSED BY THE CORPORATE GOVERNANCE
	AND NOMINATION COMMITTEE.
7.1	Elect  Directors Paul J. Collins		Management	For	For
7.2	Elect  Directors Georg Ehrnrooth		Management	For	For
7.3	Elect  Directors Bengt Holmstrom		Management	For	For
7.4	Elect  Directors Per Karlsson		Management	For	For
7.5	Elect  Directors Jorma Ollila		Management	For	For
7.6	Elect  Directors Marjorie Scardino		Management	For	For
7.7	Elect  Directors Vesa Vainio		Management	For	For
7.8	Elect  Directors Arne Wessberg		Management	For	For
7.9	Elect  Directors Dan Hesse		Management	For	For
7.1	Elect  Directors Edouard Michelin		Management	For	For
8	APPROVAL OF THE REMUNERATION TTO BE PAID		Management	For	For
	TO THE AUDITOR.
9	APPROVAL OF THE RE-ELECTION OF		Management	For	For
	PRICEWATERHOUSECOOPERS OY AS THE AUDITORS
	FOR FISCAL YEAR 2005.
10	APPROVAL OF THE PROPOSAL TO GRANT STOCK		Management	For	For
	OPTIONS TO SELECTED PERSONNEL OF THE
	COMPANY.
11	APPROVAL OF THE PROPOSAL OF THE BOARD TO		Management	For	For
	REDUCE THE SHARE CAPITAL THROUGH
	CANCELLATION OF NOKIA SHARES HELD BY CO
12	AUTHORIZATION TO THE BOARD TO INCREASE		Management	For	For
	THE SHARE CAPITAL OF THE COMPANY
13	AUTHORIZATION TO THE BOARD TO REPURCHASE		Management	For	For
	NOKIA SHARES.
14	AUTHORIZATION TO THE BOARD TO DISPOSE		Management	For	For
	NOKIA SHARES HELD BY THE COMPANY
15	MARK THE FOR BOX IF YOU WISH TO INSTRUCT		Management	Against	For
	NOKIA S LEGAL COUNSELS TO VOTE
	DISCRETION ON YOUR BEHALF ONLY				M
ORACLE CORP.
Ticker:  ORCL             Security ID:   68389X105
Meeting Date:  Oct 29, 2004            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jeffrey O. Henley		Management	For	For
1.2	Elect  Director Lawrence J. Ellison		Management	For	For
1.3	Elect  Director Donald L. Lucas		Management	For	For
1.4	Elect  Director Michael J. Boskin		Management	For	For
1.5	Elect  Director Jack F. Kemp		Management	For	For
1.6	Elect  Director Jeffrey S. Berg		Management	For	For
1.7	Elect  Director Safra Catz		Management	For	For
1.8	Elect  Director Hector Garcia-Molina		Management	For	For
1.9	Elect  Director Joseph A. Grundfest		Management	For	For
1.1	Elect  Director H. Raymond Bingham		Management	For	For
1.11	Elect  Director Charles E. Phillips, Jr.		Management	For	For
2	Approve Executive Incentive Bonus Plan		Management	For	For
3	Ratify Auditors		Management	For	For
4	Amend Omnibus Stock Plan		Management	For	For
5	Implement China Principles		Shareholder	Against	Against
OSI PHARMACEUTICALS, INC.
Ticker:  OSIP           Security ID:   671040103
Meeting Date:  Mar 16, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert A. Ingrm		Management	Withhold	For
1.2	Elect  Director Colin Goddard, Ph.D.		Management	For	For
1.3	Elect  Director Michael G. Atieh		Management	For	For
1.4	Elect  Director G. Morgan Browne		Management	For	For
1.5	Elect  Director Daryl K. Granner, M.D.		Management	For	For
1.6	Elect  Director Walter M LovenBERG, Ph.D.		Management	For	For
1.7	Elect  Director Viren Mehta		Management	For	For
1.8	Elect  Director Herbert Pinedo, M.D.		Management	For	For
1.9	Elect  Director Sir Mark Richmond, PhD.		Management	For	For
1.1	Elect  Director John P. White		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
PACIFICARE HEALTH SYSTEMS, INC.
Ticker:  PHS               Security ID:    695112102
Meeting Date:   May 19, 2005           Meeting Type   Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Aida Alvarez		Management	For	For
1.2	Elect  Director Bradley C. Call		Management	For	For
1.3	Elect  Director Terry O. Hartshorn		Management	Withhold	For
1.4	Elect  Director Dominic Ng		Management	For	For
1.5	Elect  Director Howard G. Phanstiel		Management	For	For
1.6	Elect  Director Warren E. Pinckert II		Management	For	For
1.7	Elect  Director David A. Reed		Management	For	For
1.8	Elect  Director Charles R. Rinehart		Management	For	For
1.9	Elect  Director Linda Rosenstock		Management	For	For
1.1	Elect  Director Lloyd E. Ross		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
PEABODY ENERGY CORP.
Ticker:  BTU                Security ID:   704549104
Meeting Date:  May 6, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director B.R. Brown		Management	For	For
1.2	Elect  Director Henry Givens, Jr., Ph.D.		Management	For	.  For
1.3	Elect  Director James R. Schlesinger		Management	Withhold	For
1.4	Elect  Director Sandra Van Trease		Management	For	For
2	Ratify Auditors		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Require Two Thirds Majority of		Shareholder	For	Against
	Independent Directors on the Board
5	Declassify the Board of Directors		Shareholder	For	Against
6	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
PEPSICO, INC.
Ticker:  PEP             Security ID:   713448108
Meeting Date:  May 4, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John F. Akers		Management	For	For
1.2	Elect  Director Robert E. Allen		Management	For	For
1.3	Elect  Director Ray L. Hunt		Management	For	For
1.4	Elect  Director Arthur C. Martinez		Management	For	For
1.5	Elect  Director Indra K. Nooyi		Management	For	For
1.6	Elect  Director Steven S Reinemund		Management	For	For
1.7	Elect  Director Sharon P. Rockefeller		Management	For	For
1.8	Elect  Director James J. Schiro		Management	For	For
1.9	Elect  Director Franklin A. Thomas		Management	For	For
1.1	Elect  Director Cynthia M. Trudell		Management	For	For
1.11	Elect  Director Solomon D. Trujillo		Management	For	For
1.12	Elect  Director Daniel Vasella		Management	For	For
2	Ratify Auditors		Management	For	For
3	Report on Corporate Political		Shareholder	Against	Against
	Contributions
PFIZER INC.
Ticker:  PFE                 Security ID:   717081103
Meeting Date:  Apr 28, 2005               Meeting Typd Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Michael S. Brown		Management	For	For
1.2	Elect Director M. Anthony Burns		Management	For	For
1.3	Elect Director Robert N. Burt		Management	For	For
1.4	Elect Director W. Don Cornwell		Management	For	For
1.5	Elect Director William H. Gray III		Management	For	For
1.6	Elect Director Constance J. Horner		Management	For	For
1.7	Elect Director William R. Howell		Management	For	For
1.8	Elect Director Stanley O. Ikenberry		Management	For	For
1.9	Elect Director George A. Lorch		Management	For	For
1.1	Elect Director Henry A. McKinnell		Management	For	For
1.11	Elect Director Dana G. Mead		Management	For	For
1.12	Elect Director Ruth J. Simmons		Management	For	For
1.13	Elect Director William C. Steere, Jr.		Management	For	For
1.14	Elect Director Jean-Paul Valles		Management	For	For
2	Ratify Auditors		Management	For	For
3	Establish Term Limits for Directors		Shareholder	Against	Against
4	Report on Pharmaceutical Price Restraint		Shareholder	Against	Against
5	Review and Report on Drug Reimportation Policy		Shareholder	Against	Against
6	Report on Political Contributions		Shareholder	Against	Against
7	Report on Product Availability in Canada		Shareholder	For	Against
8	Separate Chairman and CEO Positions		Shareholder	For	Against
PULTE HOMES INC.
Ticker:  PHM                security ID:   745867101
Meeting Date:  May 12, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director D. Kent Anderson		Management	For	For
1.2	Elect  Director John J. Shea		Management	For	For
1.3	Elect  Director William B. Smith		Management	For	For
2	Ratify Auditors		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Amend Executive Incentive Bonus Plan		Management	For	For
5	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
ROHM AND HAAS CO.
Ticker:  ROH                     Security ID;  775371107
Meeting Date:  May 2, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director W.J. Avery		Management	For	For
1.2	Elect Director R.L. Gupta		Management	For	For
1.3	Elect Director D.W. Hass		Management	For	For
1.4	Elect Director T.W. Hass		Management	For	For
1.5	Elect Director R.L. Keyser		Management	For	For
1.6	Elect Director R.J. Mills		Management	For	For
1.7	Elect Director J.P. Montoya		Management	For	For
1.8	Elect Director S.O. Moose		Management	For	For
1.9	Elect Director G.S. Omenn		Management	For	For
1.1	Elect Director G.L. Rogers		Management	For	For
1.11	Elect Director R.H. Schmitz		Management	For	For
1.12	Elect Director G.M. Whitesides		Management	For	For
1.13	Elect Director M.C. Whittington		Management	For	For
2	Approve Non-Employee Director Stock Option Plan		Management	For	For
3	Amend 401(k)/Savings Plan		Management	For	For
4	Ratify Auditors		Management	For	For
5	Other Business		Management	Against	For
SANOFI-AVENTIS (FORMERLY SANOFI-SYNTHELABO)
Ticker:                            Security ID:   80105N105
Meeting Date:  May 31, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	APPROVAL OF THE INDIVIDUAL COMPAYN		Management	For	For
	FINANCIAL STATEMENTS
2	APPROVAL OF THE CONSOLIDATED FINANCIAL		Management	For	For
	STATEMENTS
3	APPROPRIATION OF PROFITS; DECLARATION OF		Management	For	F  For
	DIVIDEND
4	APPROVAL OF TRANSACTIONS COVERED BY		Management	For	For
	STATUTORY AUDITORS SPECIAL REPORT
5	Ratify Auditors		Management	For	For
6	Ratify Auditors		Management	For	For
7	AUTHORIZATION TO THE BOARD OF DIRECTORS		Management	For	For
	TO CARRY OUT TRANSACTIONS IN SHARES
	ISSUED BY THE COMPANY
8	TERMINATION OF THE AUTHORITY T		Management	For	For
	BONDS
9	TO CARRY OUT INCREASES IN THE SHARE		Management	For	For
	CAPITAL BY ISSUANCE, WITH PREEMPTIVE
	RIGHTS MAINTAINED
10	TO CARRY OUT INCREASES IN THE SHARE		Management	Against	For
	CAPITAL BY ISSUANCE, WITHOUT PREEMPTIVE
	RIGHTS
11	TO CARRY OUT INCREASES IN THE SHARE		Management	For	For
	CAPITAL BY INCORPORATION OF SHARE
	PREMIUM, RESERVES, PROFITS OR OTHER ITEM
12	TO INCREASE THE NUMBER OF SHARES TO BE		Management	Against	For
	ISSUED IN THE EVENT OF A CAPITAL INCREASE
	WITH OR WITHOUT PREEMPTIVE RIGHTS
13	TO CARRY OUT INCREASES IN THE SHARE		Management	For	For
	CAPITAL BY ISSUANCE OF SHARES RESERVED
	FOR EMPLOYEES WITH WAIVER OF PREEMPTIVE
	RIGHTS
14	DELEGATION TO THE BOARD OF DIRECTORS OF		Management	Against	For
	AUTHORITY TO GRANT OPTIONS TO SUBSCRIBE
	FOR OR PURCHASE SHARES
15	DELEGATION TO THE BOARD TO ALLOT EXISTING		Management	Against	For
	OR NEW SHARES FREE OF CHARGE TO ALL OR
	SOME SALARIED EMPLOYEES OF THE GROUP
16	DELEGATION TO THE BOARD OF DIRECTORS OF		Management	For	For
	POWERS TO REDUCE THE SHARE CAPITAL BY
	CANCELLATION OF TREASURY SHARES
17	POWERS FOR THE ACCOMPLISHMENT OF		Management	For	For
	FORMALITIES
SASOL LTD.
Ticker:  SSL               Security ID:   803866300
Meeting Date:     Nov 30, 2004           Neeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	TO RECEIVE AND CONSIDER THE ANnual		Management	For	For
	FINANCIAL STATEMENTS TOGETHER WITH THE
	REPORTS OF THE DIRECTORS AND AUDITORS
2	TO ELECT DIRECTOR, RETIRING, WWHO IS		Management	For	For
	ELIGIBLE AND OFFER THEMSELVES FOR
	RE-ELECTION: P DU P KRUGER
3	TO ELECT DIRECTOR, RETIRING, WHO IS		Management	For	For
	ELIGIBLE AND OFFER THEMSELVES FOR
	RE-ELECTION: E LE R BRADLEY
4	TO ELECT DIRECTOR, RETIRING, WHO IS		Management	For	For
	ELIGIBLE AND OFFER THEMSELVES FOR
	RE-ELECTION: B P CONNELLAN
5	TO ELECT DIRECTOR, RETIRING, WHO IS		Management	For	For
	ELIGIBLE AND OFFER THEMSELVES FOR
	RE-ELECTION: L P A DAVIES
6	TO ELECT DIRECTOR, RETIRING, WHO IS		Management	For	For
	ELIGIBLE AND OFFER THEMSELVES FOR
	RE-ELECTION: J E SCHREMPP
7	Ratify Auditors		Management	For	For
8	SPECIAL RESOLUTION NUMBER 1 - TO		Management	For	For
	AUTHORISE THE DIRECTORS TO APPROVE THE
	PURCHASE BY THE COMPANY, OR BY ANY OF ITS
	SUBSIDIARIES, OF THE COMPANY S SHARES
9	ORDINARY RESOLUTION NUMBER 1 -PLACING 5%		Management	For	For
	OF THE ORDINARY SHARES OF THE COMPANY
	NOT ALLOTTED NOR ISSUED AS AT 30 NOVEMBER
	2004, UNDER THE CONTROL OF THE DIRECTORS
10	ORDINARY RESOLUTION NUMBER 2 - TO APPROVE		Management	For	For
	THE REVISED ANNUAL FEES PAYABLE BY THE
	COMPANY TO NON-EXECUTIVE DIRECTORS OF THE
	COMPANY AND ANY OF ITS SUBSIDIARIES WITH
	RETROACTIVE EFFECT FROM 1 JULY 2004
SCHLUMBERGER LTD.
Ticker:  SLB               Security ID:   806857108
Meeting Date:  Apr 13, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director J. Deutch		Management	Withhold	For
1.2	Elect  Director J.S. Gorelick		Management	For	For
1.3	Elect  Director A. Gould		Management	For	For
1.4	Elect  Director T. Isaac		Management	For	For
1.5	Elect  Director A. Lajous		Management	For	For
1.6	Elect  Director A. Levy-Lang		Management	For	For
1.7	Elect  Director M.E. Marks		Management	For	For
1.8	Elect  Director D. Primat		Management	For	For
1.9	Elect  Director T.I. Sandvold		Management	For	For
1.1	Elect  Director N. Seydoux		Management	For	For
1.11	Elect  Director L.G. Stuntz		Management	For	For
1.12	Elect  Director R. Talwar		Management	For	For
2	ADOPTION AND APPROVAL OF FINANCIALS AND		Management	For	For
	DIVIDENDS
3	ADOPTION OF MANDATORY AMENDMENTS TO		Management	For	For
	ARTICLES OF INCORPORATION
4	ADOPTION OF VOLUNTARY AMENDMENTS TO		Management	For	For
	ARTICLES OF INCORPORATION
5	APPROVAL OF ADOPTION OF THE SCHLUMBERGER		Management	For	For
	2005 OPTION PLAN
6	APPROVAL OF ADOPTION OF AN AMENDMENT		Management	For	For
	THE SCHLUMBERGER DISCOUNTED STOCK
	PURCHASE PLAN
7	APPROVAL OF INDEPENDENT REGISTERED		Management	For	For
	PUBLIC ACCOUNTING FIRM
ST. PAUL TRAVELERS COMPANIES, INC., THE
Ticker:  STA                   Security ID:   792860108
Meeting Date:  May 3, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John H. Dasburg		Management	For	For
1.2	Elect  Director Leslie B. Disharoon		Management	For	For
1.3	Elect  Director Janet M. Dolan		Management	For	For
1.4	Elect  Director Kenneth M. Duberstein		Management	For	For
1.5	Elect  Director Jay S. Fishman		Management	For	For
1.6	Elect  Director Lawrence G. Graev		Management	Withhold	For
1.7	Elect  Director Thomas R. Hodgson		Management	For	For
1.8	Elect  Director Robert I. Lipp		Management	For	For
1.9	Elect  Director Blythe J. McGarvie		Management	For	For
1.1	Elect  Director Glen D. Nelson		Management	For	For
1.11	Elect  Director Clarence Otis,		Management	For	For
1.12	Elect  Director Charles W. Scharf		Management	For	For
1.13	Elect  Director Laurie J. Thomsen		Management	For	For
2	Ratify Auditors		Management	For	For
STARWOOD HOTELS & RESORTS WORLDWIDE, INC.
Ticker:  HOT                       Security ID:   85590A203
Meeting Date:  May 5, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Charlene Barshefsky		Management	For	For
1.2	Elect Director Jean-Marc Chapus		Management	For	For
1.3	Elect Director Bruce W. Duncan		Management	For	For
1.4	Elect Director Steven J. Heyer		Management	For	For
1.5	Elect Director Eric Hippeau		Management	For	For
1.6	Elect Director Steven Quazzo		Management	For	For
1.7	Elect Director Thomas O. Ryder		Management	For	For
1.8	Elect Director Barry S. Sternlicht		Management	For	For
1.9	Elect Director Daniel W. Yih		Management	For	For
1.1	Elect Director Kneeland C. Youngblood		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Executive Incentive Bonus Plan		Management	For	For
4	Provide for Confidential Voting		Shareholder	For	Against
5	Expense Stock Options		Shareholder	For	Against
T. ROWE PRICE GROUP, INC.
Ticker: TROW                        Security ID:  74144T108
Meeting Date:  Apr 26, 2005                  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Edward C. Bernard		Management	For	For
1.2	Elect Director James T. Brady		Management	For	For
1.3	Elect Director J. Alfred Broaddus, Jr.		Management	For	For
1.4	Elect Director Donald B. Hebb,		Management	For	For
1.5	Elect Director James A.C. Kennedy		Management	For	For
1.6	Elect Director James S. Riepe		Management	For	For
1.7	Elect Director George A. Roche		Management	For	For
1.8	Elect Director Brian C. Rogers		Management	For	For
1.9	Elect Director Dr. Alfred Sommer		Management	For	For
1.1	Elect Director Dwight S. Taylor		Management	For	For
1.11	Elect Director Anne Marie Whittemore		Management	For	For
2	Ratify Auditors		Management	For	For
3	Other Business		Management	Against	For
TARGET CORPORATION
Ticker:  TGT                          Security ID:   87612E106
Meeting Date:  May 18, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Roxanne S. Austin		Management	For	For
1.2	Elect  Director James A. Johns		Management	For	For
2	Ratify Auditors		Management	For	For
TRANSOCEAN INC.
Ticker:                        Security ID   G90078109
Meeting Date:  May 12, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Judy J. Kelly		Management	For	For
1.2	Elect  Director Roberto Monti		Management	For	For
1.3	Elect  Director Ian C. Strachan		Management	For	For
2	APPROVAL OF THE AMENDMENT OF EMPLOYEE		Management	For	For
	STOCK PURCHASE PLAN TO INCREASE THE # OF
	NUMBER OF ORDINARY SHARES RESERED FOR
	ISSUANCE UNDER THE PLAN FROM 2,500,000 TO
	3,500,000.00
3	APPROVAL OF THE APPOINTMENT OF ERNST &		Management	For	For
	YOUNG LLP TO SERVE AS OUR INDEPENDENT
	REGISTERED PUBLIC ACCOUNTING FIRM.
TYCO INTERNATIONAL LTD.
Ticker:  TYC             Security ID:   902124106
Meeting Date:     Mar 10, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dennis C. Blair		Management	For	For
1.2	Elect  Director Edward D. Breen		Management	For	For
1.3	Elect  Director George W. Buckley		Management	For	For
1.4	Elect  Director Brian Duperreault		Management	For	For
1.5	Elect  Director Bruce S. Gordon		Management	For	For
1.6	Elect  Director Rajiv L. Gupta		Management	For	For
1.7	Elect  Director John A. Krol		Management	For	For
1.8	Elect  Director Mackey J. Mcdonald		Management	Withhold	For
1.9	Elect  Director H. Carl Mccall		Management	For	For
1.1	Elect  Director Brendan R. O'Neill		Management	For	For
1.11	Elect  Director Sandra S. Wijnberg		Management	For	For
1.12	Elect  Director Jerome B. York		Management	For	For
2	Ratify Auditors		Management	For	For
VERITAS SOFTWARE CORP.
Ticker:  VRTS                     Security ID:   923436109
Meeting Date:  Aug 25, 2004           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael Brown		Management	For	For
1.2	Elect  Director Kurt J. Lauk		Management	For	For
1.3	Elect  Director Fred van den Bosch		Management	For	For
2	Amend Stock Option Plan		Management	For	For
3	Ratify Auditors		Management	For	For
WAL-MART STORES, INC.
Ticker:   WMT              Security ID:   931142103
Meeting Date:  Jun 3, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James W. Breyer		Management	For	For
1.2	Elect  Director M. Michele Burns		Management	For	For
1.3	Elect  Director Douglas N. Daft		Management	For	For
1.4	Elect  Director David D. Glass		Management	For	For
1.5	Elect  Director Roland A. Hernandez		Management	For	For
1.6	Elect  Director John D. Opie		Management	For	For
1.7	Elect  Director J. Paul Reason		Management	For	For
1.8	Elect  Director H. Lee Scott,		Management	For	For
1.9	Elect  Director Jack C. Shewmaker		Management	For	For
1.1	Elect  Director Jose H. Villarreal		Management	For	For
1.11	Elect  Director John T. Walton		Management	For	For
1.12	Elect  Director S. Robson Walton		Management	For	For
1.13	Elect  Director Christopher J. Williams		Management	For	For
1.14	Elect  Director Linda S. Wolf		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
4	Report on Executive Compensation		Shareholder	For	Against
5	Prepare Sustainability Report		Shareholder	For	Against
6	Report on Stock Option Distribution by		Shareholder	For	Against
	Race and Gender
7	Report on Political Contributions		Shareholder	Against	Against
8	Prepare Equal Opportunity Report		Shareholder	For	Against
9	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
10	Require Majority of Independent Directors on Board		Shareholder	Against	Against
11	Performance- Based/Indexed Opt	ions	Shareholder	Against	Against
WELLPOINT INC.
Ticker:  WLP                      Security ID:   94973V107
Meeting Date:  May 10, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director William H.T. Bush		Management	For	For
1.2	Elect Director Warren Y. Jobe		Management	For	For
1.3	Elect Director William G. Mays		Management	For	For
1.4	Elect Director Senator Donald W Riegle		Management	For	For
1.5	Elect Director William J. Ryan		Management	For	For
2	Ratify Auditors		Management	For	For
3	Performance- Based/Indexed Opt	ions	Shareholder	For	Against
WILLIAMS  COMPANIES, INC., THE
Ticker:  WMB                         Security ID:   969457100
Meeting Date:  May 19, 2005                   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Juanita H. Hinshaw		Management	For	For
1.2	Elect Director Frank T. MacInnis		Management	For	For
1.3	Elect Director Steven J. Malcolm		Management	For	For
1.4	Elect Director Janice D. Stoney		Management	For	For
2	Ratify Auditors		Management	For	For
3	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
XM SATELLITE RADIO HOLDINGS INC.
Ticker:  XMSR                          Security ID:   983759101
Meeting Date:  May 26, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Gary M. Parsons		Management	For	For
1.2	Elect  Director Hugh Panero		Management	For	For
1.3	Elect  Director Nathaniel A. Davis		Management	For	For
1.4	Elect  Director Thomas J. Donohue		Management	For	For
1.5	Elect  Director Eddy W. Hartenstein		Management	For	For
1.6	Elect  Director George W. Haywood		Management	For	For
1.7	Elect  Director Chester A. Huber, Jr.		Management	For	For
1.8	Elect  Director John Mendel		Management	For	For
1.9	Elect  Director Jarl Mohn		Management	For	For
1.1	Elect  Director Pierce J. Roberts, Jr.		Management	For	For
1.11	Elect  Director Jack Shaw		Management	For	For
2	Ratify Auditors		Management	For	For
YAHOO!, INC.
Ticker:  YHOO                           Security ID:  984332106
Meeting Date:  May 19, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Terry S. Semel		Management	For	For
1.2	Elect Director Jerry Yang		Management	For	For
1.3	Elect Director Roy J. Bostock		Management	For	For
1.4	Elect Director Ronald W. Burkle		Management	For	For
1.5	Elect Director Eric Hippeau		Management	For	For
1.6	Elect Director Arthur H. Kern		Management	Withhold	For
1.7	Elect Director Robert A. Kotick		Management	Withhold	For
1.8	Elect Director Edward R. Kozel		Management	For	For
1.9	Elect Director Gary L. Wilson		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Amend Non-Employee Director Stock Option Plan		Management	For	For
4	Ratify Auditors		Management	For	For
SM&R ALGER SMALL-CAP FUND
ACCREDO HEALTH, INC.
Ticker:  ACDO                      Security ID:   00437V104
Meeting Date:  Nov 22, 2004                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director William Edward Evans		Management	For	For
1.2	Elect  Director Nancy-Ann Deparle		Management	For	For
1.3	Elect  Director Kenneth R. Masterson		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
ACTUANT CORP
Ticker:  ATU                          Security ID:   00508X203
Meeting Date:  Jan 10, 2005                      Meeting type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert C. Arzbaecher		Management	For	For
1.2	Elect  Director Gustav H.P. Boel		Management	For	For
1.3	Elect  Director Thomas J. Fischer		Management	For	For
1.4	Elect  Director William K. Hall		Management	For	For
1.5	Elect  Director Kathleen J. Hempel		Management	For	For
1.6	Elect  Director Robert A. Peterson		Management	For	For
1.7	Elect  Director William P. Sovey		Management	For	For
1.8	Elect  Director Larry Yost		Management	For	For
2	Approve Executive Incentive Bonus Plan		Management	For	For
ADVANCED DIGITAL INFORMATION CORP.
Ticker:  ADIC                           Security ID:   007525108
Meeting Date:   Mar 10, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John W. Stanton		Management	For	For
1.2	Elect  Director Peter H. Van Oppen		Management	For	For
AFFILIATED MANAGERS GROUP, INC.
Ticker:  AMG                       Security ID:   008252108
Meeting Date:  Jun 1, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Richard Floor		Management	Withhold	For
1.2	Elect Director Sean M. Healey		Management	Withhold	For
1.3	Elect Director Harold J. Meyerman		Management	For	For
1.4	Elect Director William  J. Nutt		Management	Withhold	For
1.5	Elect Director Robert C. Puff,		Management	For	For
1.6	Elect Director Rita M. Rodriguguez		Management	For	For
2	Amend Executive Incentive Bonus Plan		Management	For	For
3	Ratify Auditors		Management	For	For
AIRTRAN HOLDINGS, INC.
Ticker:  AAI                           Security ID:   00949P108
Meeting Date:  May 17, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director G. Peter D'Aloia		Management	For	For
1.2	Elect  Director Jere A. Drummond		Management	For	For
1.3	Elect  Director John F. Fiedler		Management	For	For
1.4	Elect  Director William J. Usery		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
ALLIANT TECHSYSTEMS INC.
Ticker:  ATK                          Security ID:   018804104
Meeting Date:  Aug 3, 2004              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Frances D. Cook		Management	For	For
1.2	Elect  Director Gilbert F. Decker		Management	For	For
1.3	Elect  Director Ronald R. Fogleman		Management	For	For
1.4	Elect  Director Jonathan G. Guss		Management	For	For
1.5	Elect  Director David E. Jeremiah		Management	For	For
1.6	Elect  Director Roman Martinez		Management	For	For
1.7	Elect  Director Paul David Miller		Management	For	For
1.8	Elect  Director Daniel J. Murphy, Jr.		Management	For	For
1.9	Elect  Director Robert W. Riscassi		Management	For	For
1.1	Elect  Director Michael T. Smith		Management	For	For
1.11	Elect  Director William G. Van Dyke		Management	For	For
2	Ratify Auditors		Management	For	For
3	Report on the Weaponization of Space		Shareholder	Against	Against
ALPHA NATURAL RESOURCES, INC.
Ticker:  ANR                         Security ID:   02076X102
Meeting Date:  Apr 27, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director E. Linn Draper		Management	For	For
1.2	Elect  Director Glenn A. Eisenberg		Management	For	For
1.3	Elect  Director John W. Fox Jr		Management	For	For
1.4	Elect  Director Alex T. Krueger		Management	Withhold	For
1.5	Elect  Director Fritz R. Kundrun		Management	Withhold	For
1.6	Elect  Director William E. Macaulay		Management	Withhold	For
1.7	Elect  Director Hans J. Mende		Management	Withhold	For
1.8	Elect  Director Michael J. Quillen		Management	Withhold	For
2	Ratify Auditors		Management	For	For
ANNTAYLOR STORES CORP.
Ticker:  ANN                    Security ID:   036115103
Meeting Date  Apr 28, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James J. Burke		Management	For	For
1.2	Elect  Director Dale W. Hilpert		Management	For	For
1.3	Elect  Director Ronald W. Hovsepian		Management	For	For
1.4	Elect  Director Linda A. Huett		Management	For	For
2	Ratify Auditors		Management	For	For
APPLEBEE'S INTERNATIONAL, INC.
Ticker:   APPB               Security ID:   137899101
Meeting Date:  May 12, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Erline Belton		Management	For	For
1.2	Elect  Director Eric L. Hansen		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Amend Qualified Employee Stock Purchase Plan		Management	For	For
4	Ratify Auditors		Management	For	For
5	Report on Feasibility of Improving Animal		Shareholder	Against	Against
	Welfare Standards
AQUANTIVE, INC.
Ticker:   AQNT                          Security ID:   03839G105
Meeting Date:  May 25, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Nicolas J. Hanauer		Management	Withhold	For
1.2	Elect  Director Brian P. McAndrews		Management	For	For
1.3	Elect  Director Jack Sansolo,		Management	For	For
ARBINET-THEXCHANGE INC.
Ticker:  ARBX                         Security ID:   13875P100
Meeting Date:  Jun 15, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert C. Atkinson		Management	For	For
1.2	Elect  Director Mathew J. Lori		Management	For	For
ARCH COAL, INC.
Ticker:  ACI                             Security ID:  139380100
Meeting Date:  Apr 28, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James R. Boyd		Management	For	For
1.2	Elect  Director Douglas H. Hunt		Management	For	For
1.3	Elect  Director A. Michael Perry		Management	For	For
1.4	Elect  Director Patricia F. Godley		Management	For	For
2	Approve Executive Incentive Bonus Plan		Management	For	For
ARRIS GROUP INC.
Ticker:  ARRS                                      Security ID:   04269Q100
Meeting Date:  May 25, 2005        Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Alex B. Best		Management	For	For
1.2	Elect  Director Harry L. Bosco		Management	For	For
1.3	Elect  Director John Anderson Craig		Management	For	For
1.4	Elect  Director Matthew B. Kearney		Management	For	For
1.5	Elect  Director William H. Lambert		Management	For	For
1.6	Elect  Director John R. Petty		Management	For	For
1.7	Elect  Director Robert J. Stanzione		Management	For	For
2	Ratify Auditors		Management	For	For
ATMI, INC.
Ticker:  ATMI                     Security ID:   00207R101
Meeting Date:  May 24, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Mark A. Adley		Management	For	For
1.2	Elect  Director Eugene G. Banuccu		Management	For	For
2	Ratify Auditors		Management	For	For
BANK MUTUAL CORPORATION
Ticker:  BKMU                Security ID:  063750103
Meeting Date:   May 2, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Thomas J. Lopina, Sr.		Management	For	For
1.2	Elect  Director Robert B. Olson		Management	For	For
1.3	Elect  Director David J. Rolfs		Management	For	For
1.4	Elect  Director Mark C. Herr		Management	For	For
2	Ratify Auditors		Management	For	For
BOSTON PRIVATE FINANCIAL HOLDINGS, INC.
Ticker: BPFH                   Security ID:   101119105
Meeting Date:  Apr 27, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Peter C. Bennett.		Management	Withhold	For
1.2	Elect  Director Kathleen M. Gravelina		Management	For	For
1.3	Elect  Director Walter M. Pressey		Management	For	For
1.4	Elect  Director William J. Shea		Management	For	For
BROOKS AUTOMOATION, INC.
Ticker:  BRKS                 Security ID:   114340102
Meeting Date:  Feb 17, 2005                   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert J. Therrien		Management	For	For
1.2	Elect  Director Roger D. Emerick		Management	For	For
1.3	Elect  Director Amin J. Khoury		Management	For	For
1.4	Elect  Director Joseph R. Martin		Management	For	For
1.5	Elect  Director Edward C. Grady		Management	For	For
1.6	Elect  Director A. Clinton Allen		Management	For	For
1.7	Elect  Director John K. McGillicuddy		Management	For	For
CERNER CORP.
Ticker:  CERN                       Security ID:   156782104
Meeting Date:  May 27, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John C. Danforth		Management	Withhold	For
1.2	Elect  Director Neal L. Patterson		Management	For	For
1.3	Elect  Director William D. Zollars		Management	Withhold	For
2	Ratify Auditors		Management	For	For
CLEVELAND -CLIFFS INC.
Ticker:  CLF                      Security ID:   185896107
Meeting Date:  May 10, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John S. Brinzo		Management	For	For
1.2	Elect  Director Ronald C. Cambre		Management	For	For
1.3	Elect  Director Ranko Cucuz		Management	For	For
1.4	Elect  Director David H. Gunning		Management	For	For
1.5	Elect  Director James D. Irelaand III		Management	For	For
1.6	Elect  Director Francis R. McAllister		Management	For	For
1.7	Elect  Director Roger Phillips		Management	For	For
1.8	Elect  Director Richard K. Riederer		Management	For	For
1.9	Elect  Director Allan Schwartz		Management	For	For
2	Ratify Auditors		Management	For	For
CORE LABORATORIES N V
Ticker:  CLB                 Security ID:   N22717107
Meeting Date:  Apr 15, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director David M. Demshur		Management	For	For
1.2	Elect  Director Rene R. Joyce		Management	For	For
1.3	Elect  Director Michael C. Kearney		Management	For	For
2	CONFIRMATION AND ADOPTION OF ANNUAL		Management	For	For
	ACCOUNTS AND DISCHARGE OF DIRECTORS.
3	APPROVAL OF CANCELLATION OF OUR		Management	For	For
	REPURCHASED SHARES.
4	APPROVAL OF EXTENSION OF AUTHORITY OF		Management	For	For
	MANAGEMENT BOARD TO REPURCHASE UP TO
	10% OF THE ISSUED SHARE CAPITAL OF THE
	COMPANY UNTIL OCTOBER 15, 2006
5	APPROVAL OF EXTENSION OF AUTHORITY OF		Management	For	For
	SUPERVISORY BOARD TO ISSUE SHARES AND/OR
	TO GRANT RIGHTS (INCLUDING OPTIONS TO
	PURCHASE) WITH RESPECT TO OUR COMMON
	AND/OR PREFERENCE SHARES UNTIL 4/15/2010
6	APPROVAL OF EXTENSION OF AUTHORITY OF		Management	For	For
	SUPERVISORY BOARD TO LIMIT OR ELIMINATE
	PREEMPTIVE RIGHTS OF HOLDERS OF COMMON
	SHARES UNTIL APRIL 15, 2010.
7	RATIFICATION OF APPOINTMENT OF		Management	For	For
	PRICEWATERHOUSECOOPERS LLP AS COMPANY
	INDEPENDENT PUBLIC ACCOUNTANTS FOR THE
	YEAR ENDED DECEMBER 31, 2005.
COST PLUS, INC.
Ticker:  CPWM                   Security ID:   221485105
Meeting Date:  Jul 1, 2004            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Murray H. Dashe		Management	For	For
1.2	Elect  Director Joseph H. Coulombe		Management	For	For
1.3	Elect  Director Barry J. Feld		Management	For	For
1.4	Elect  Director Danny W. Gurr		Management	For	For
1.5	Elect  Director Kim D. Robbins		Management	For	For
1.6	Elect  Director Fredric M. Roberts		Management	For	For
1.7	Elect  Director Thomas D. Willardson		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Amend Non-Employee Director Stock Plan		Management	For	For
4	Ratify Auditors		Management	For	For
COSTAR GROUP INC
Ticker:  CSGP                    Security ID:   22160N109
Meeting Date:  Jun 17, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael R. Klein		Management	Withhold	For
1.2	Elect  Director Andrew C. Florance		Management	For	For
1.3	Elect  Director David Bonderman		Management	Withhold	For
1.4	Elect  Director Warren H. Haber		Management	For	For
1.5	Elect  Director Josiah O. Low, III		Management	For	For
1.6	Elect  Director Christopher J. Nassetta		Management	For	For
1.7	Elect  Director Catherine B. Reynolds		Management	For	For
2	Ratify Auditors		Management	For	For
COX RADIO, INC.
Ticker:  CXR                     Security ID:  224051102
Meeting Date:  May 3, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Juanita P. Baranco		Management	For	For
1.2	Elect  Director G. Dennis Berry		Management	Withhold	For
1.3	Elect  Director Richard A. Ferguson		Management	Withhold	For
1.4	Elect  Director Paul M. Hughes		Management	For	For
1.5	Elect  Director James C. Kennedy		Management	Withhold	For
1.6	Elect  Director Marc W. Morgan		Management	Withhold	For
1.7	Elect  Director Robert F. Neil		Management	Withhold	For
1.8	Elect  Director Nicholas D. Trigony		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
EAST WEST BANCORP, INC.
Ticker:  EWBC               Security ID:   27579R104
Meeting Date:  May 25, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dominic Ng		Management	For	For
1.2	Elect  Director Herman Li		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Ratify Auditors		Management	For	For
EDUCATION MANAGEMENT CORP
Ticker:  EDMC                    Security ID:   28139T101
Meeting Date:  Nov 23, 2004            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael J. Emmi		Management	For	For
1.2	Elect  Director Martin L. Garcia		Management	For	For
1.3	Elect  Director Jerry L. Johnson		Management	For	For
1.4	Elect  Director Miryam L. Knutson		Management	For	For
2	Ratify Auditors		Management	For	For
ENCYSIVE PHARMACEUTICALS, INC.
Ticker:  ENCY                 Security ID:   29256X107
Meeting Date:  May 11, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John M. Pietruski		Management	For	For
1.2	Elect  Director Ron J. Anderson		Management	For	For
1.3	Elect  Director J. Kevin Buchi		Management	For	For
1.4	Elect  Director Frank C. Carlucci		Management	For	For
1.5	Elect  Director Robert J. Cruikshank		Management	For	For
1.6	Elect  Director John H. Dillon		Management	For	For
1.7	Elect  Director Richard A.F. D		Management	For	For
1.8	Elect  Director Bruce D. Given		Management	For	For
1.9	Elect  Director Suzanne Oparil		Management	For	For
1.1	Elect  Director James A. Thomson		Management	For	For
1.11	Elect  Director James T. Willerson		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Amend Omnibus Stock Plan		Management	For	For
ESTERLINE TECHNOLOGIES CORP.
Ticker:  ESL                        Security ID:   297425100
Meeting Date:  Mar 2, 2005                  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Lewis E. Burns		Management	For	For
1.2	Elect  Director Robert W. Cremin		Management	For	For
1.3	Elect  Director A.P. Franceschini		Management	For	For
1.4	Elect  Director Adm. C.R. Larson		Management	For	For
EVERGREEN RESOURCES, INC.
Ticker:                Security ID:   299900308
Meeting Date:  Sep 28, 3004            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Merger Agreement		Management	For	For
2	Adjourn Meeting		Management	Against	For
FAIR ISAAC INC.
Ticker:  FIC                    Security ID:   303250104
Meeting Date:   Feb 1, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director A. George Battle		Management	For	For
1.2	Elect  Director Andrew Cecere		Management	For	For
1.3	Elect  Director Tony J. Christianson		Management	For	For
1.4	Elect  Director Thomas G. Grudnowski		Management	For	For
1.5	Elect  Director Alex W. Hart		Management	For	For
1.6	Elect  Director Philip G. Heasley		Management	For	For
1.7	Elect  Director Guy R. Henshaw		Management	For	For
1.8	Elect  Director David S.P. Hopkins		Management	For	For
1.9	Elect  Director Margaret L. Taylor		Management	For	For
2	Ratify Auditors		Management	For	For
FIRST MARBLEHEAD CORP
Ticker:  FMD                             Security ID:   320771108
Meeting Date:  Nov 18, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Daniel Maxwell Meyers		Management	For	For
1.2	Elect  Director Stephen E. Anbinder		Management	For	For
1.3	Elect  Director Leslie L. Alexander		Management	For	For
1.4	Elect  Director William R. Berkley		Management	For	For
1.5	Elect  Director Dort A. Cameron III		Management	For	For
1.6	Elect  Director George G. Daly		Management	For	For
1.7	Elect  Director Peter S. Drotch		Management	For	For
1.8	Elect  Director William D. Hansen		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Approve Executive Incentive Bonus Plan		Management	For	For
FORMFACTOR, INC.
Ticker:  FORM              Security ID:   346375108
Meeting Date:  May 19, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director G. Carl Everett		Management	For	For
1.2	Elect Director Dr. Homa Bahrami		Management	For	For
2	Ratify Auditors		Management	For	For
FTI CONSULTING, INC.
Ticker:  FCN               Security ID:    302941109
Meeting Date:  May 18, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Mark H. Berey		Management	For	For
1.2	Elect  Director Jack B. Dunn,		Management	Withhold	For
1.3	Elect  Director Gerard E. Holthaus		Management	For	For
2	Amend Qualified Employee Stock Purchase Plan		Management	For	For
3	Ratify Auditors		Management	For	For
GEVITY HR INC
Ticker:  GVHR                    Security ID:   374393106
Meeting Date:  May 12, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Erik Vonk		Management	For	For
1.2	Elect  Director George B. Beitzel		Management	For	For
1.3	Elect  Director Darcy E. Bradbury		Management	For	For
1.4	Elect  Director James E. Cowie		Management	For	For
1.5	Elect  Director A.D. Frazier		Management	For	For
1.6	Elect  Director Jonathan H. Kagan		Management	For	For
1.7	Elect  Director David S. Katz		Management	For	For
1.8	Elect  Director James F. Manning		Management	Withhold	For
1.9	Elect  Director Jeffrey A. Sonnenfeld		Management	For	For
2	Approve Omnibus Stock Plan		Management	Against	For
3	Approve Executive Incentive Bonus Plan		Management	For	For
GLOBAL PAYMENTS, INC.
Ticker:  GPN                            Security ID:   37940X102
Meeting Date:  Sep 21, 2004               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Charles G. Betty		Management	For	For
1.2	Elect  Director Edwin H. Burba		Management	For	For
1.3	Elect  Director Raymond L. Killian		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
GREY WOLF, INC.
Ticker:  GW                    Security ID   397888108
Meeting Date:  May 17, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Steven A. Webster		Management	Withhold	For
1.2	Elect  Director William R. Ziegler		Management	For	For
GUITAR CENTER, INC.
Ticker:  GTRC                    Security ID:   402040109
Meeting Date:  May 5, 2005                   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Marty Albertson		Management	For	For
1.2	Elect  Director George Jones		Management	For	For
1.3	Elect  Director Larry Livingston		Management	For	For
1.4	Elect  Director George Mrkonic		Management	For	For
1.5	Elect  Director Kenneth Reiss		Management	For	For
1.6	Elect  Director Walter Rossi		Management	For	For
1.7	Elect  Director Peter Starrett		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Ratify Auditors		Management	For	For
HYPERION SOLUTIONS CORP.
Ticker:  HYSL                            Security ID:   44914M104
Meeting Date:  Nov 10, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Henry Autry		Management	For	For
1.2	Elect Director Terry Carlitz		Management	For	For
1.3	Elect Director Yorgen Edholm		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
IMMUCOR, INC.
Ticker:  BLUD                Security ID:   452526106
Meeting Date:  Nov 10, 2004              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Edward L. Gallup		Management	For	For
1.2	Elect  Director Dr. Gioacchino de Chirico		Management	For	co For
1.3	Elect  Director Ralph A. Eatz		Management	For	For
1.4	Elect  Director Roswell S. Bowers		Management	For	For
1.5	Elect  Director John A. Harris		Management	For	For
1.6	Elect  Director Dr. Mark Kishel		Management	For	For
1.7	Elect  Director Joseph E. Rosen		Management	For	For
2	Amend Stock Option Plan		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Other Business		Management	Against	For
INPHONIC INC.
Ticker:  INPC                  Security ID:   45772G105
Meeting Date: Jun 23, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director David A. Steinberg		Management	For	For
1.2	Elect  Director Jay Hoag		Management	For	For
2	Ratify Auditors		Management	For	For
INTEGRATED CIRCUIT SYSTEMS, INC.
Ticker:  ICST                    Security ID:   45811K208
Meeting Date:  Oct 28, 2004         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Lewis C. Eggebrecht		Management	For	For
1.2	Elect  Director Henry I. Boreen		Management	Withhold	For
1.3	Elect  Director David Dominik		Management	For	For
INTERNATIONAL SECURITIES EXCHANGE, INC.
Ticker:  ISE                           Security ID:   46031W204
Meeting Date:  May 11, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Barbara Diamond		Management	For	For
1.2	Elect  Director Mark P. Kritzman		Management	For	For
1.3	Elect  Director Ivers W. Riley		Management	For	For
1.4	Elect  Director R. Schmalensee		Management	For	For
1.5	Elect  Director David Krell		Management	For	For
2	Ratify Auditors		Management	For	For
INTUIT SURGICAL INC.
Ticker:  ISRG                      Security ID:   46031W204
MeetinG Date:  May 20, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert W. Duggan		Management	For	For
1.2	Elect  Director William J. Mercer		Management	For	For
IVILLAGE, INC.
Ticker:  IVIL                          Security ID:   46588H105
Meeting Date:  Nov 1, 2004                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Ajit M. Dalvi		Management	For	For
1.2	Elect Director Habib Kairouz		Management	For	For
1.3	Elect Director Edward T. Reilly		Management	For	For
1.4	Elect Director Alfred Sikes		Management	Withhold	For
2	Ratify Auditors		Management	For	For
JOY GLOBAL, INC.
Ticker:  JOYG                      Security ID:   481165108
Meeting Date:  Feb 22, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Steven L. Gerard		Management	Withhold	For
1.2	Elect  Director John Nils Hanson		Management	For	For
1.3	Elect  Director Ken C. Johnsen		Management	For	For
1.4	Elect  Director James R. Klauser		Management	For	For
1.5	Elect  Director Richard B. Loynd		Management	For	For
1.6	Elect  Director P. Eric Siegert		Management	For	For
1.7	Elect  Director James H. Tate		Management	For	For
KANBAY INTERNATIONAL, INC.
Ticker:  KBAY                       Security ID:   48369P207
Meeting Date:  Jun 14, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Cyprian D'Souza		Management	Withhold	For
1.2	Elect  Director B. Douglas Morriss		Management	For	For
1.3	Elect  Director Harry C. Gambill		Management	For	For
2	Ratify Auditors		Management	For	For
LANDSTAR SYSTEM, INC.
Ticker:  LSTR                 Security ID:   515098101
Meeting Date:  May 12, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director David G. Bannister		Management	For	For
1.2	Elect  Director Jeffrey C. Crowe		Management	For	For
2	Ratify Auditors		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
LIFE TIME FITNESS, INC.
Ticker:  LTM                       Security ID   53217R207
Meeting Date:  May 5, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Bahram Akradi		Management	For	For
1.2	Elect  Director Timothy C. DeVries		Management	For	For
1.3	Elect  Director James F. Halpin		Management	For	For
1.4	Elect  Director Guy C. Jackson		Management	For	For
1.5	Elect  Director David A. Landau		Management	For	For
1.6	Elect  Director Stephen R. Sefton		Management	For	For
2	Ratify Auditors		Management	For	For
LONE STAR TECHNOLOGIES, INC.
Ticker: LSS                   Security ID:   542312103
Meeting Date:  Apr 25, 1005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Robert Kelley		Management	For	For
1.2	Elect Director Alfred M. Micallef		Management	For	For
1.3	Elect Director Jerry E. Ryan		Management	For	For
2	Ratify Auditors		Management	For	For
LUBRIZOL CORP.., THE
Ticker:  LZ                  Security ID:   549271104
Meeting Date:  Apr 25, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Peggy Gordon Miller		Management	For	For
1.2	Elect  Director Dominic J. Pileggi		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
MAXTOR CORP.
Ticker:  MXO                   Security ID:   577729205
Meeting Date:  May 13, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dr. C.S. Park		Management	For	For
1.2	Elect  Director Charles F. Christ		Management	For	For
1.3	Elect  Director Gregory E. Myers		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Amend Qualified Employee Stock Purchase Plan		Management	For	For
4	Ratify Auditors		Management	For	For
MEDIA GENERAL, Inc.
Ticker:  MEG               Security ID:   584404107
Meeting Date:  Apr 28, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Charles A. Davis		Management	For	For
1.2	Elect  Director C. Boyden Gray		Management	For	For
1.3	Elect  Director Walter E. Williams		Management	For	For
MENTOR CORP.
Ticker:  MNT                       Security ID:   587188103
Meeting Date:  Sep 15, 2004            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Increase in Size of Board		Management	For	For
2.1	Elect  Director Christopher J. Conway		Management	For	For
2.2	Elect  Director Walter W. Faster		Management	For	For
2.3	Elect  Director Eugene G. Glover		Management	For	For
2.4	Elect  Director Michael Nakonechny		Management	For	For
2.5	Elect  Director Ronald J. Rossi		Management	For	For
2.6	Elect  Director Jeffrey W. Ubben		Management	For	For
2.7	Elect  Director Richard W. Young		Management	Withhold	For
2.8	Elect  Director Michael L. Emmons		Management	For	For
2.9	Elect  Director Joshua H. Levine		Management	For	For
2.1	Elect  Director Adel Michael		Management	For	For
2.11	Elect  Director Joseph E. Whitters		Management	For	For
3	Ratify Auditors		Management	For	For
MSC INDUSTRIAL DIRECTO CO., INC.
Ticker:  MSM                    Security ID:   553530106
Meeting Date:  Jan 4, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Mitchell Jacobson		Management	For	For
1.2	Elect  Director David Sandler		Management	For	For
1.3	Elect  Director Charles Boehlke		Management	For	For
1.4	Elect  Director Roger Fradin		Management	For	For
1.5	Elect  Director Denis Kelly		Management	For	For
1.6	Elect  Director Raymond Langton		Management	For	For
1.7	Elect  Director Philip Peller		Management	For	For
2	Amend Restricted Stock Plan		Management	For	For
3	Amend Employee Stock Purchase Plan		Management	For	For
4	Ratify Auditors		Management	For	For
5	Other Business		Management	Against	For
NATIONAL FINANCIAL PARTNERS CORP.
Ticker:  NFP                   Security ID:   63607P208
Meeting Date:  May 10, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Stephanie W. Abramson		Management	For	For
1.2	Elect  Director Arthur S. Ainsberg		Management	For	For
1.3	Elect  Director Marc E. Becker		Management	For	For
1.4	Elect  Director Jessica M. Bibliowicz		Management	For	For
1.5	Elect  Director John A. Elliot		Management	For	For
1.6	Elect  Director Shari Loessberg		Management	For	For
1.7	Elect  Director Marc J. Rowan		Management	For	For
2	Ratify Auditors		Management	For	For
NETEASE COM INC
Ticker:  NTES                           Security ID:   64110W102
Meeting Date:  Jun 23, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	WILLIAM DING
2	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	TED SUN
3	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	DENNY LEE
4	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	MICHAEL TONG
5	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	DONGHUA DING
6	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	RONALD LEE
7	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	MICHAEL LEUNG
8	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	JOSEPH TONG
9	Ratify Auditors		Management	For	For
NETGEAR, INC.
Ticker:  NTGR                   Security ID:   64111Q104
Meeting Date:  May 18, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Patrick C.S. Lo		Management	For	For
1.2	Elect  Director Ralph E. Faison		Management	For	For
1.3	Elect  Director A. Timothy Godwin		Management	For	For
1.4	Elect  Director Linwood A. Lacy, jr.		Management	Withhold	For
1.5	Elect  Director Gerald A. Poch		Management	For	For
1.6	Elect  Director Gregory Rossman		Management	For	For
2	Ratify Auditors		Management	For	For
OPEN SOLUTIONS, INC
Ticker:  OPEN                   Security ID:   68371P102
Meeting Date:  May 19, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Douglas K. Anderson		Management	Withhold	For
1.2	Elect Director Samuel F. McKay		Management	For	For
2	Ratify Auditors		Management	For	For
OPENWAVE SYSTEMS, INC.
Ticker:  OPWV                            Security ID:   683718308
Meeting Date:  Nov 30, 2004                    Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Masood Jabbar		Management	For	For
1.2	Elect  Director Bernard Puckett		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Non-Employee Director Stock Option Plan		Management	Against	For
PACIFIC SUNWEAR OF CALIFORNIA, INC.
Ticker:  PSUN                          Security ID:   694873100
Meeting Date:  May 18, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Greg H. Weaver		Management	For	For
1.2	Elect Director Julius Jensen I		Management	For	For
1.3	in		Management	For	For
1.4	Elect Director Michael Goldstein		Management	For	For
1.5	Elect Director Seth R. Johnson		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Ratify Auditors		Management	For	For
PERFORMANCE FOOD GROUP CO.
Ticker:  PFGC           Security ID    713755106
Meeting Date:  May 18, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John E. Stokely		Management	For	For
1.2	Elect  Director Fred C. Goad,		Management	For	For
PHARMIION CORP
Ticker:  PHRM.                          Security ID:   71715B409
Meeting Date:  Jun 1, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Patrick J. Mahaffy		Management	For	For
1.2	Elect  Director James Blair		Management	For	For
1.3	Elect  Director Cam L. Garner		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	Against	For
4	Amend Non-Employee Director Stock Option Plan		Management	Against	For
PIPER JAFFRAY COS
Ticker:  PJC                       Security ID:   724078100
Meeting Date:  Apr 27, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael R. Francis		Management	For	For
1.2	Elect  Director Addison L. Piper		Management	For	For
2	Ratify Auditors		Management	For	For
PLATINUN UNDERWRITERS HOLDINGS LTD
Ticker:  PTP                             Security ID:   G7127P100
Meeting Date:  Apr 26, 2005                  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director H. Furlong Baldwin		Management	For	For
1.2	Elect  Director Jonathan F. Bank		Management	For	For
1.3	Elect  Director Dan R. Carmichael		Management	For	For
1.4	Elect  Director Neill A. Currie		Management	For	For
1.5	Elect  Director Robert V. Deutsch		Management	For	For
1.6	Elect  Director Gregory E.A. Morrison		Management	For	For
1.7	Elect  Director Steven H. Newman		Management	For	For
1.8	Elect  Director Peter T. Pruitt		Management	For	For
2	TO CONSIDER AND TAKE ACTION UPON A		Management	For	For
	PROPOSAL TO RATIFY THE SELECTION OF KPMG
	LLP AS THE COMPANY S INDEPENDENT
	REGISTERED PUBLIC ACCOUNTING FIRM FOR THE
	2005 FISCAL YEAR.
PRICELINE.COM, INC.
Ticker:  PCLN                       Security ID:   741503403
Meeting Date:  Jan 24, 2005                 Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Amend Omnibus Stock Plan		Management	For	For
PROTEIN DESIGN LABS, INC.
Ticker:  PDLI                       Security ID:  74369L103
Meeting Date:  Jun 8, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jon S. Saxe, E		Management	Withhold	For
1.2	Elect  Director L. Patrick Gagge		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Amend Non-Employee Director Stock Option Plan		Management	For	For
4	Change Company Name		Management	For	For
5	Ratify Auditors		Management	For	For
6	Adjourn Meeting		Management	Against	For
PSYCHIIATRIC SOLUTIONS, INC.
Ticker:  PSYS                            Security ID:   74439H108
Meeting Date:  May 17, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Joey A. Jacobs		Management	For	For
1.2	Elect Director William M. Petrie		Management	For	For
1.3	Elect Director Edward K. Wissing		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Amend Non-Employee Director Stock OptionPlan		Management	For	n  For
4	Ratify Auditors		Management	For	For
QLT INC.
Ticker:  QLT                        Security ID:    746927102
Meeting Date:  Nov 19, 2004                Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Merger Agreement		Management	For	For
RANGE RESOURCES CORPORATION
Ticker:   RRC                         Security ID:   75281A109
Meeting Date:  May 18, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert E. Aikman		Management	For	For
1.2	Elect  Director Charles L. Blackburn		Management	For	For
1.3	Elect  Director Anthony V. Dub		Management	For	For
1.4	Elect  Director  V. Richard Eales		Management	For	For
1.5	Elect  Director Allen Finkelson		Management	For	For
1.6	Elect  Director Jonathan S. Linker		Management	For	For
1.7	Elect  Director Kevin S. McCarthy		Management	For	For
1.8	Elect  Director John H. Pinkerton		Management	For	For
1.9	Elect  Director Jeffrey L. Ventura		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Amend  Director & Officer		Management	For	For
	Indemnification/Liability Provisions
4	Approve Omnibus Stock Plan		Management	Against	For
5	Amend Omnibus Stock Plan		Management	Against	For
6	Ratify Auditors		Management	For	For
RED ROBIN GOURMET BURGERS INC.
Ticker:  RRGB                   Security ID:   75689M101
Meeting Date:  Jun 2, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Benjamin D. Graebel		Management	For	For
1.2	Elect  Director Dennis B. Mullen		Management	For	For
2	Ratify Auditors		Management	For	For
RETAIL VENTURES, INC.
Ticker:  RVI                        Security ID:   76128Y102
Meeting Date:   Jun 28, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Henry L. Aaron		Management	For	For
1.2	Elect  Director Ari Deshe		Management	For	For
1.3	Elect  Director Jon P. Diamond		Management	For	For
1.4	Elect  Director Elizabeth M. Eveillard		Management	For	For
1.5	Elect  Director Lawrence J. Ring		Management	For	For
1.6	Elect  Director Jay L. Schottenstein		Management	For	For
1.7	Elect  Director Harvey L. Sonnenberg		Management	For	For
1.8	Elect  Director James L. Weisman		Management	For	For
1.9	Elect  Director Heywood Wilansky		Management	For	For
RIGEL PHARMACEUTICALS, INC.
Ticker:  RIGL                         Security ID:   766559603
Meeting Date:  Jun 2, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Walter H. Moos		Management	For	For
1.2	Elect  Director Hollings C. Renton		Management	Withhold	For
1.3	Elect  Director Stephen A. Sherwin		Management	For	For
2	Amend Omnibus Stock Plan		Management	Against	For
3	Amend Non-Employee Director Stock Option Plan		Management	Against	For
4	Ratify Auditors		Management	For	For
ROPER INDUSTRIES, INC.
Ticker:  ROP                          Security ID:   776696106
Meeting Date:  Jun 6, 2005                    Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Donald G. Calder		Management	For	For
1.2	Elect  Director Derrick N. Key		Management	For	For
1.3	Elect  Director Christopher Wright		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Other Business		Management	Against	For
SEMTECH CORP.
Ticker:  SMTC                        Security ID:  816850101
Meeting Date:  Jun 15, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Glen M. Antle		Management	For	For
1.2	Elect  Director James P. Burra		Management	For	For
1.3	Elect  Director Jason L. Carlson		Management	For	For
1.4	Elect  Director Rockell N. Hanin		Management	For	For
1.5	Elect  Director James T. Lindstrom		Management	For	For
1.6	Elect  Director John L. Piotrowski		Management	Withhold	For
1.7	Elect  Director John D. Poe		Management	For	For
1.8	Elect  Director James T. Schraith		Management	For	For
2	Ratify Auditors		Management	For	For
SEROLOGICALS CORP
Ticker:  SERO                Security ID:   817523103
Meeting Date:    May 11, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert J. Clanin		Management	For	For
1.2	Elect  Director Gerard M. Moufflet		Management	For	For
1.3	Elect  Director Lawrence E. Tilton		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Ratify Auditors		Management	For	For
SI INTL INC
Ticker:  SINT                        Security ID   78427V102
Meeting Date:   JUN 16, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James E. Crawford III		Management	For	For
1.2	Elect  Director Walter C. Florence		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
SIERRA HEALTH SERVICES, INC.
Ticker:  SIE                    Security ID:   826322109
Meeting Date:  May 24, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Thomas Y. Hartley		Management	For	For
1.2	Elect  Director Michael E. Luce		Management	For	For
1.3	Elect  Director Anthony M. Marlon,		Management	For	For
1.4	Elect  Director Anthony L. Watson		Management	For	For
2	Ratify Auditors		Management	For	For
SIGMATEL INC.
Ticker:  SGTL                    Security ID:   82661W107
Meeting Date:  Apr 21, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Alexander M. Davern		Management	For	For
1.2	Elect  Director Robert T. Derby		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
SILICON IMAGE, INC.
Ticker:  SIMG                         Security ID:   82705T102
Meeting Date:  Jun 15, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Elect  Director Steve Tirado		Management	Withhold	For
2	Ratify Auditors		Management	For	For
SIRF TECHNOLOGY HOLDINGS, INC.
Ticker:  SIRF                      Security ID:   82967H101
Meeting Date:  May 17, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Moiz M. Beguwala		Management	For	For
1.2	Elect  Director James M. Smaha		Management	For	For
2	Ratify Auditors		Management	For	For
SPANISH BROADCASTING SYSTEM, INC.
Ticker:  SBSA                 Security ID:   846425882
Meeting Date:  Jun 28, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Raul Alarcon,		Management	Withhold	For
1.2	Elect  Director Pablo Raul Alarcon		Management	Withhold	For
1.3	Elect  Director Dan Mason		Management	For	For
1.4	Elect  Director Antonio S. Fernandez		Management	For	For
1.5	Elect  Director Jose A. Villamil		Management	For	For
1.6	Elect  Director Jason L. Shrinsky		Management	Withhold	For
SUNRISE SENIOR LIVING INC.
Ticker:  SRZ                              Security ID:   86768K106
Meeting Date:   May 11, 2005                   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Ronald V. Aprahamian		Management	For	For
1.2	Elect  Director Teresa M. Klaassen		Management	For	For
2	Amend Qualified Employee Stock Purchase Plan		Management	For	For
SYMBION, INC.
Ticker:  SMBI                            Security ID:   871507109
Meeting Date:  May 10, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jack Tyrrell		Management	For	For
1.2	Elect  Director Frederick L. Bryant		Management	For	For
1.3	Elect  Director Richard E. Francis, Jr.		Management	For	For
2	Ratify Auditors		Management	For	For
SYNERON MEDICAL LTD
Ticker:  ELOS                           Security ID:   M87245102
Meeting Date:  Jun 22, 2005        Meeting Type   Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	RE-ELECTION OF DIRECTOR DR. KREINDEL AS		Management	For	For
	CLASS I DIRECTOR.
2	RE-ELECTION OF DIRECTOR MR. MIZRAHY AS		Management	For	For
	CLASS I DIRECTOR.
3	Ratify Auditors		Management	For	For
4	AUTHORIZE THE BOARD, ACCORDING TO		Management	For	For
	RECOMMENDATION OF THE AUDIT COMMITTEE, TO
	FIX THE INDEPENDENT AUDITORS
	REMUNERATION FOR AUDITING SERVICES AND
	FOR ADDITIONAL SERVICES.
5	APPROVE THE SERVICE TERMS OF DR. SHIMON		Management	Against	For
	ECKHOUSE ACCORDING TO ISRAELI COMPANIES
	LAW 1999 REQUIREMENT FOR RELATED PARTIES
	TRANSACTIONS.
THERAVANCE INC.
Ticker:  THRX                  Security ID:   88338T104
Meeting Date:  Jun 30, 2005                     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director P. Roy Vagelos		Management	For	For
1.2	Elect  Director Rick E. Winningham		Management	For	For
1.3	Elect  Director Julian C. Baker		Management	For	For
1.4	Elect  Director Jeffrey M. Drazan		Management	For	For
1.5	Elect  Director R.V. Gunderson		Management	For	For
1.6	Elect  Director Arnold J. Levine		Management	For	For
1.7	Elect  Director Ronn C. Loewenthal		Management	For	For
1.8	Elect  Director William H. Waltrip		Management	Withhold	For
1.9	Elect  Director G.M. Whitesides		Management	Withhold	For
1.1	Elect  Director William D. Young		Management	Withhold	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Amend Qualified Employee Stock Purchase Plan		Management	For	For
4	Ratify Auditors		Management	For	For
TODCO
Ticker:   THE                       Security ID:   8889T107
Meeting Date:  May 10, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Thomas N. Amonett		Management	For	For
1.2	Elect  Director Suzanne V. Baer		Management	For	For
1.3	Elect  Director Jan Rask		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
UBIQUITEL, INC.
Ticker:  UPCS                 Security ID:   903474302
Meeting Date:  May 12, 2005             Security ID:   903474302
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Matthew J. Boos		Management	Withhold	For
1.2	Elect  Director Eve M. Trkla		Management	For	For
1.3	Elect  Director Eric S. Weinstein		Management	For	For
2	Amend Omnibus Stock Plan		Management	Against	For
UCBH HOLDINGS, INC.
Ticker:  UCBH                              Security ID:  90262T308
Meeting Date:  Sep 24, 2004                 Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Amend Stock Option Plan		Management	For	For
VALUECLICK, INC.
Ticker:  VCLK                         Security ID:  92046N102
Meeting Date:  Jun 6, 2005                  Meeting Type: Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director James R. Zarley		Management	Withhold	For
1.2	Elect Director David S. Buzby		Management	For	For
1.3	Elect Director Martin T. Hart		Management	For	For
1.4	Elect Director Tom A. Vadnais		Management	Withhold	For
1.5	Elect Director Jeffrey F. Rayport		Management	For	For
VCA ANTECH INC.
Ticker:  WOOF                      Security ID   918194101
Meeting Date:  Jun 6, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director John B. Chickering, Jr.		Management	For	For
1.2	Elect  Director John Heil		Management	Withhold	For
2	Ratify Auditors		Management	For	For
VICURON PHARMACEUTICALS, INC.
Ticker:  MICU                    Security ID:   926471103
Meeting Date May 20, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James H. Cavanaugh, Ph,.D.		Management	For	D. For
1.2	Elect  Director George F. Horner, III		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
VICURON PHARMACEUTICALS, INC.
Ticker:  MICU                    Security ID:   926471103
Meeting Date:  Oct 28, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Christopher T. Walsh, Ph.D.		Management	For	For
1.2	Elect  Director Cheryl A. Wenzinger cpa		Management	For	For
2	Ratify Auditors		Management	For	For
WATTS WATER TECHNOLOGIES
Ticker:  WTS                         Security ID:   942749102
Meeting Date:  May 4, 2005               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Timothy P. Horne		Management	For	For
1.2	Elect  Director Ralph E. Jackson, Jr.		Management	For	For
1.3	Elect  Director Kenneth J. McAvoy		Management	For	For
1.4	Elect  Director John K. McGillicuddy		Management	For	For
1.5	Elect  Director Gordan W. Moran		Management	For	For
1.6	Elect  Director Daniel J. Murpy		Management	For	For
1.7	Elect  Director Patrick S. O'Keefe		Management	For	For
2	Ratify Auditors		Management	For	For
WELLCARE HEALTH PLANS INC.
Ticker:  WCG                    Security ID:   94946T106
Meeting Date:  Jun 15, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Todd S. Farha		Management	For	For
1.2	Elect  Director Regina Herzlinger		Management	For	For
1.3	Elect  Director Kevin Hickey		Management	For	For
2	Approve Qualified Employee Stock Purchase Plan		Management	For	For
3	Ratify Auditors		Management	For	For
WHITING PETROLEUM CORP.
Ticker:  WLL                       Security ID:   966387102
Meeting Date:  May 10, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Kenneth R. Whiting		Management	For	For
1.2	Elect  Director Palmer L. Moe		Management	For	For
2	Ratify Auditors		Management	For	For
SM&R ALGER TECHNOLOGY FUND
ACTIVISION, INC.
Ticker:  ATVI                          Security ID:   004930202
Meeting Date:  Sep 21, 2004               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert A. Kotick		Management	Withhold	For
1.2	Elect  Director Brian G. Kelly		Management	Withhold	For
1.3	Elect  Director Ronald Doornink		Management	Withhold	For
1.4	Elect  Director Robert J. Corti		Management	For	For
1.5	Elect  Director Kenneth L. Henderson		Management	Withhold	For
1.6	Elect  Director Barbara S. Isgur		Management	For	For
1.7	Elect  Director Robert J. Morgado		Management	For	For
1.8	Elect  Director Peter J. Nolan		Management	For	For
2	Ratify Auditors		Management	For	For
AKAMAI TECHNOLOGIES, INC.
Ticker:  AKAM                        Security ID:   00971T101
Meeting Date:  May 24, 2005                 Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director William A. Halter		Management	For	For
1.2	Elect  Director Peter J. Kight		Management	For	For
1.3	Elect  Director Frederic V. Salerno		Management	For	For
2	Ratify Auditors		Management	For	For
APPLE COMPUTER, INC.
Ticker:  AAPL                 Security ID:   037833100
Meeting Date:  Apr 21, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Fred D. Anderson		Management	For	For
1.2	Elect  Director William V. Campbell		Management	For	For
1.3	Elect  Director Millard S. Drexler		Management	For	For
1.4	Elect  Director Albert A. Gore		Management	For	For
1.5	Elect  Director Steven P. Jobs		Management	For	For
1.6	Elect  Director Arthur D. Levinson		Management	For	For
1.7	Elect  Director Jerome B. York		Management	For	For
2	Approve Executive Incentive Bonus Plan		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Amend Qualified Employee Stock Purchase Plan		Management	For	For
5	Ratify Auditors		Management	For	For
6	Performance- Based/Indexed Options		Shareholder	For	Against
APPLIED MICRO CIRCUITS CORP.
Ticker:  AMCC                      Security ID:   03822W109
Meeting Date:  Sep 1, 2004                  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director David M. Rickey		Management	For	For
1.2	Elect  Director Roger A. Smullen, Sr.		Management	For	For
1.3	Elect  Director Cesar Cesaratto		Management	For	For
1.4	Elect  Director Franklin P. Johnson, Jr.		Management	For	For
1.5	Elect  Director L. Wayne Price		Management	For	For
1.6	Elect  Director Arthur B. Stabenow		Management	For	For
1.7	Elect  Director Harvey P. White		Management	For	For
2	Ratify Auditors		Management	For	For
AQUANTIVE, INC.
Ticker:  AQNT                   Security ID:   13839G105
Meeting Date:  May 25, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Nicolas J. Hanauer		Management	Withhold	For
1.2	Elect  Director Brian P. McAndrews		Management	For	For
1.3	Elect  Director Jack Sansolo, Ph.D.		Management	For	For
ARRIS GROUP INC.
Ticker:  ARRS                     Security ID:   04269Q100
Meeting Date:  May 25, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Alex B. Best		Management	For	For
1.2	Elect  Director Harry L. Bosco		Management	For	For
1.3	Elect  Director John Anderson Craig		Management	For	For
1.4	Elect  Director Matthew B. Kearney		Management	For	For
1.5	Elect  Director William H. Lambert		Management	For	For
1.6	Elect  Director John R. Petty		Management	For	For
1.7	Elect  Director Robert J. Stanzione		Management	For	For
2	Ratify Auditors		Management	For	For
ATI TECHNOLOGIES INC.
Ticker:  ATY.                         Security ID:  001941103
Meeting Date:  Jan 25, 2005                  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Elect John E. Caldwell, Ronald Chwang,		Management	For	For
	James D. Fleck, K.Y. Ho, Alan D. Horn,
	Paul Russo and Robert A. Young as Directors
2	Ratify KPMG LLP as Auditors		Management	For	For
3	Approve Continuation of Company Under		Management	For	For
	Canadian Business Corporation Act
4	Confirmation of CBCA By-Law		Management	For	For
5	Amend Stock Option Plan		Management	For	For
6	Amend Stock Option Plan : Tandem SAR		Management	For	For
AUTOMATIC DATA PROCESSING, INC.
Ticker:  ADP                     Security ID:   053015103
Meeting Date:  Nov 9, 2004             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Gregory D. Brenneman		Management	For	For
1.2	Elect  Director Leslie A. Brun		Management	For	For
1.3	Elect  Director Gary C. Butler		Management	For	For
1.4	Elect  Director Joseph A. Califano, Jr.		Management	For	For
1.5	Elect  Director Leon G. Cooperman		Management	For	For
1.6	Elect  Director R. Glenn Hubbard		Management	For	For
1.7	Elect  Director Ann Dibble Jordan		Management	For	For
1.8	Elect  Director Harvey M. Krueger		Management	For	For
1.9	Elect  Director Frederic V. Malek		Management	For	For
1.1	Elect  Director Henry Taub		Management	For	For
1.11	Elect  Director Arthur F. Weinbach		Management	For	For
2	Ratify Auditors		Management	For	For
AVAYA  INC.
Ticker:  AV                          Security ID:   053499109
Meeting Date:  Feb 15, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Philip A. Odeen		Management	For	For
1.2	Elect  Director Hellene S. Runtagh		Management	For	For
1.3	Elect  Director Paula Stern		Management	For	For
1.4	Elect  Director Richard F. Walman		Management	For	For
BROCADE COMMUNICATIONS SYSTEMS
Ticker:  BRCDE                  Security ID:   111621108
Meeting Date:  Apr 22, 2005             Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael Klayko		Management	For	For
1.2	Elect  Director Nicholas G. Moore		Management	For	For
2	Ratify Auditors		Management	For	For
CISCO SYSTEMS, INC.
Ticker:  CSCO                  Security ID:   17275R102
Meeting Date:  Nov 18, 2004               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Carol A. Bartz		Management	For	For
1.2	Elect  Director M. Michele Burns		Management	For	For
1.3	Elect  Director Larry R. Carter		Management	For	For
1.4	Elect  Director John T. Chambers		Management	For	For
1.5	Elect  Director Dr. James F. Gibbons		Management	For	For
1.6	Elect  Director Dr. John L. Hennessy		Management	For	For
1.7	Elect  Director Roderick C. McGeary		Management	For	For
1.8	Elect  Director James C. Morgan		Management	For	For
1.9	Elect  Director John P. Morgridge		Management	For	For
1.1	Elect  Director Donald T. Valentine		Management	For	For
1.11	Elect  Director Steven M. West		Management	For	For
1.12	Elect  Director Jerry Yang		Management	For	For
2	Ratify Auditors		Management	For	For
3	Report on Pay Disparity		Shareholder	Against	Against
COGNIZANT TECHNOLOGY SOLUTIONS CORP.
Ticker:  CTSH                   Security ID:   192446102
Meeting Date:  Jun 14, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Robert W. Howe		Management	For	For
1.2	Elect  Director Robert E. Weissman		Management	For	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
COGNOS INC.
Ticker:  CSN.               Security ID:   19244C109
Meeting Date:  Jun 23, 2005        Meeting Type: Annual/Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Robert G. Ashe		Management	For	For
1.2	Elect Director John E. Caldwell		Management	For	For
1.3	Elect Director Paul D. Damp		Management	For	For
1.4	Elect Director Pierre Y. Ducros		Management	For	For
1.5	Elect Director Robert W. Korthals		Management	For	For
1.6	Elect Director John J. Rando		Management	For	For
1.7	Elect Director Bill V. Russell		Management	For	For
1.8	Elect Director James M. Tory		Management	For	For
1.9	Elect Director Renato Zambonini		Management	For	For
2	Approve Ernst & Young LLP as Auditors		Management	For	For
3	Amend 2003 Stock Option Plan		Management	For	For
4	Amend Restricted Share Unit Plan		Management	For	For
5	Amend Employee Stock Purchase Plan		Management	For	For
CORNING INC.
Ticker:  GLW                       Security ID:  219350105
Meeting Date:  Apr 28, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director John Seely Brown		Management	For	For
1.2	Elect Director Gordon Gund		Management	For	For
1.3	Elect Director John M. Hennessy		Management	For	For
1.4	Elect Director H. Onno Ruding		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
3	Ratify Auditors		Management	For	For
EBAY INC.
Ticker:  EBAY                   Security ID:   278642103
Meeting Date:   Jun 23, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Fred D. Anderson		Management	For	For
1.2	Elect  Director Edward W. Barnholt		Management	For	For
1.3	Elect  Director Scott D. Cook		Management	For	For
1.4	Elect  Director Robert C. Kagle		Management	For	For
2	Approve Executive Incentive Bonus Plan		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Ratify Auditors		Management	For	For
5	Performance- Based/Indexed Option		Shareholder	For	Against
6	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
GTECH HOLDINGS CORP.
Ticker:  GTK                        Security ID:   400518106
Meeting Date:  Aug 2, 2004              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Christine M. Cournoyer		Management	For	For
1.2	Elect  Director Robert M. Dewey, Jr.		Management	For	For
1.3	Elect  Director Philip R. Lochner, Jr.		Management	For	For
2	Approve Employee Stock Purchase Plan		Management	For	For
3	Increase Authorized Common Stock		Management	For	For
4	Ratify Auditors		Management	For	For
HYDROGENICS CORP
Ticker:  HYG                      Security ID:   448882100
Meeting Date:  May 17, 2005        Meeting Type:  Annual/Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve PricewaterhouseCooper LLP as		Management	For	For
	Auditors and Authorize Board to Fix
	Remuneration of Auditors
2	Increase the Maximum Number of Directors		Management	For	For
3	Declassify the Board of Directors and		Management	For	For
	Elect Norman M. Seagram, Hugo
	Vandenborre, Joseph Cargnelli, Frank
	Colvin, Peter C. Johnson, Donald J.
	Lowry, Pierre Rivard, V. James Sardo,
	Andrew T.B. Stuart, Wesley Twiss as Directors
4	Amend Stock Option Plan		Management	Against	For
INTEL CORP.
Ticker:  INTC                             Security ID:   458140100
Meeting Date:   May 18, 2005           Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Craig R. Barrett		Management	For	For
1.2	Elect Director Charlene Barshefsky		Management	For	For
1.3	Elect Director E. John P. Browne		Management	For	For
1.4	Elect Director D. James Guzy		Management	For	For
1.5	Elect Director Reed E. Hundt		Management	For	For
1.6	Elect Director Paul S. Otellini		Management	For	For
1.7	Elect Director David S. Pottruck		Management	For	For
1.8	Elect Director Jane E. Shaw		Management	For	For
1.9	Elect Director John L. Thornton		Management	For	For
1.1	Elect Director David B. Yoffie		Management	For	For
2	Ratify Auditors		Management	For	For
3	Amend Omnibus Stock Plan		Management	For	For
4	Amend Executive Incentive Bonus Plan		Management	For	For
INTUIT INC.
Ticker:  INTU                             Security ID:   461202103
Meeting Date:  Dec 9, 2004              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Stephen M. Bennett		Management	For	For
1.2	Elect  Director Christopher W. Brody		Management	For	For
1.3	Elect  Director William V. Campbell		Management	For	For
1.4	Elect  Director Scott D. Cook		Management	For	For
1.5	Elect  Director L. John Doerr		Management	For	For
1.6	Elect  Director Donna L. Dubinsky		Management	For	For
1.7	Elect  Director Michael R. Hallman		Management	For	For
1.8	Elect  Director Dennis D. Powell		Management	For	For
1.9	Elect  Director Stratton D. Sclavos		Management	For	For
2	Ratify Auditors		Management	For	For
3	Approve Omnibus Stock Plan		Management	For	For
MANUGISTICS GROUP, INC.
Ticker:  MANU                     Security ID:   565011103
Meeting Date:  Aug 19, 2004                  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director William H. Janeway		Management	For	For
1.2	Elect  Director William G. Nelson		Management	For	For
2	Approve Employee Stock Purchase Plan		Management	For	For
3	Ratify Auditors		Management	For	For
MECHANICANICAL TECHNOLOGY INC.
Ticker:  MKTY                      Security ID:   583538103
Meeting Date:  Jun 28, 2005      Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Thomas J. Marusak		Management	For	For
1.2	Elect  Director E. Dennis O'Connor		Management	For	For
2	Adjust Par Value of Common Stock		Management	For	For
MICROSEMI CORP.
Ticker:  MSCC                        Security ID:   595137100
Meeting Date:  Feb 23, 2005          Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Dennis R. Leibel		Management	For	For
1.2	Elect  Director James J. Peterson		Management	For	For
1.3	Elect  Director Thomas R. Anderson		Management	For	For
1.4	Elect  Director Harold A. Blomquist		Management	For	For
1.5	Elect  Director William E. Bendush		Management	For	For
1.6	Elect  Director William L. Healey		Management	For	For
1.7	Elect  Director Paul F. Folino		Management	For	For
2	Ratify Auditors		Management	For	For
MICROSOFT CORP.
Ticker:  MSFT                   Security ID:   594918104
Meeting Date:  Nov 9, 2004               Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director William H. Gates III		Management	For	For
1.2	Elect  Director Steven A. Ballmer		Management	For	For
1.3	Elect  Director James I. Cash		Management	For	.  For
1.4	Elect  Director Raymond V. Gilmartin		Management	For	For
1.5	Elect  Director Ann McLaughlin Korologos		Management	For	s  For
1.6	Elect  Director David F. Marquardt		Management	For	For
1.7	Elect  Director Charles H. Noski		Management	For	For
1.8	Elect  Director Dr. Helmut Panke		Management	For	For
1.9	Elect  Director Jon A. Shirley		Management	For	For
2	Amend Bundled Compensation Plans		Management	For	For
3	Amend Bundled Compensation Plans		Management	For	For
4	Amend Stock Option Plan		Management	For	For
5	Ratify Auditors		Management	For	For
MONSTER WORLDWIDE, INC.
Ticker:  MNST                   Security ID:   611742107
Meeting Date:  Jun 16, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Andrew J. McKelvey		Management	For	For
1.2	Elect Director George R. Eisele		Management	For	For
1.3	Elect Director John Gaulding		Management	For	For
1.4	Elect Director Michael Kaufman		Management	For	For
1.5	Elect Director Ronald J. Kramer		Management	For	For
1.6	Elect Director David A. Stein		Management	For	For
1.7	Elect Director John Swann		Management	For	For
2	Amend Non-Employee Director Omnibus Stock Plan		Management	For	For
MOTOROLA, INC.
Ticker:  MOT                       Security ID:   620076109
Meeting Date:  May 2, 2005            Meeting Type:  annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director E. Zander		Management	For	For
1.2	Elect Director H. L. Fuller		Management	For	For
1.3	Elect Director J. Lewant		Management	For	For
1.4	Elect Director W. Massey		Management	For	For
1.5	Elect Director T. Meredith		Management	For	For
1.6	Elect Director N. Negroponte		Management	For	For
1.7	Elect Director I. Nooyi		Management	For	For
1.8	Elect Director S. Scott III		Management	For	For
1.9	Elect Director R. Sommer		Management	For	For
1.1	Elect Director J. Stengel		Management	For	For
1.11	Elect Director D. Warner III		Management	For	For
1.12	Elect Director J. White		Management	For	For
2	Limit Executive Compensation		Shareholder	Against	Against
3	Require a Majority Vote for the Election of Directors		Shareholder	For	Against
NETEASE COM INC.
Ticker:  NTES                          Security ID:   64110W102
Meeting Date:  Jun 23, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	WILLIAM DING
2	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	TED SUN
3	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	DENNY LEE
4	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	Against	For
	MICHAEL TONG
5	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	DONGHUA DING
6	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	RONALD LEE
7	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	MICHAEL LEUNG
8	RE-ELECT TO SERVE FOR THE ENSUING YEAR:		Management	For	For
	JOSEPH TONG
9	Ratify Auditors		Management	For	For
NETFLIX, INC.
Ticker:  MFLX                            Security ID:   64110L106
Meeting Date:  May 11, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jay C. Hoag		Management	For	For
1.2	Elect  Director Reed Hastings		Management	For	For
2	Ratify Auditors		Management	For	For
NEXTEL PARTNERS, INC.
Ticker:  NXTP                           Security ID:   65333F107
Meeting Date:  May 12, 2005                  Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Adam Aron		Management	For	For
1.2	Elect  Director John Chapple		Management	For	For
1.3	Elect  Director Steven B. Dodge		Management	For	For
1.4	Elect  Director Timothy Donahue		Management	For	For
1.5	Elect  Director Arthur W. Harrigan, Jr.		Management	For	For
1.6	Elect  Director James N. Perry, Jr.		Management	For	For
1.7	Elect  Director Caroline H. Rapking		Management	For	For
1.8	Elect  Director Dennis M. Weibling		Management	For	For
2	Ratify Auditors		Management	For	For
NOKIA CORP.
Ticker:  NKCAF                         Security ID:   654902204
Meeting Date:  Apr 7, 2005                    Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
2	APPROVAL OF THE INCOME STATEMENTS AND		Management	For	HE For
	BALANCE SHEET.
3	APPROVAL OF A PROPOSAL TO THE ANNUAL		Management	For	For
	GENERAL MEETING OF A DIVIDEND OF EUR .33				33
	PER SHARE.
4	DISCHARGE OF THE CHAIRMAN, THE MEMBERS		Management	For	OF For
	THE BOARD OF DIRECTORS, AND THE
	PRESIDENT, FROM LIABILITY.
6	PROPOSAL ON THE COMPOSITION OF BOARD		Management	For	D  For
	AS PROPOSED BY THE CORPORATE GOVERNANCE
	AND NOMINATION COMMITTEE.
7.1	Elect  Directors Paul J. ColliNS		Management	For	For
7.2	Elect  Directors Georg EhrnrooTH		Management	For	For
7.3	Elect  Directors Bengt Holmstrom		Management	For	For
7.4	Elect  Directors Per Karlsson		Management	For	For
7.5	Elect  Directors Jorma Ollila		Management	For	For
7.6	Elect  Directors Marjorie Scardino		Management	For	For
7.7	Elect  Directors Vesa Vainio		Management	For	For
7.8	Elect  Directors Arne Wessberg		Management	For	For
7.9	Elect  Directors Dan Hesse		Management	For	For
7.1	Elect  Directors Edouard Michelin		Management	For	For
8	APPROVAL OF THE REMUNERATION To be paid		Management	For	For
	TO THE AUDITOR.
9	APPROVAL OF THE RE-ELECTION OF		Management	For	For
	PRICEWATERHOUSECOOPERS OY AS AUDITORS
	FOR FISCAL YEAR 2005.
10	APPROVAL OF THE PROPOSAL TO GRANT STOCK		Management	For	For
	OPTIONS TO SELECTED PERSONNEL OF THE
	COMPANY.
11	APPROVAL OF THE PROPOSAL OF THE BOARD		Management	For	For
	REDUCE THE SHARE CAPITAL THROUGH
	CANCELLATION OF NOKIA SHARES HELD BY
	COMPANY.
12	AUTHORIZATION TO THE BOARD TO INCREASE		Management	For	For
	THE SHARE CAPITAL OF THE COMPANY
13	AUTHORIZATION TO THE BOARD TO REPURCHASE		Management	For	For
	NOKIA SHARES.
14	AUTHORIZATION TO THE BOARD TO DISPOSE		Management	For	For
	NOKIA SHARES HELD BY THE COMPANY
15	MARK THE FOR BOX IF YOU WISH TO INSTRUCT		Management	Against	For
	NOKIA S LEGAL COUNSELS TO VOTE IN THEIR
	DISCRETION ON YOUR BEHALF ONLY ITEM 15
ORACLE CORP
Ticker:  ORCL                         Security ID:   68389X105
Meeting Date:  Oct 29, 2004                   Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Jeffrey O. Henley		Management	For	For
1.2	Elect  Director Lawrence J. Ellison		Management	For	For
1.3	Elect  Director Donald L. Lucas		Management	For	For
1.4	Elect  Director Michael J. Boskin		Management	For	For
1.5	Elect  Director Jack F. Kemp		Management	For	For
1.6	Elect  Director Jeffrey S. Berg		Management	For	For
1.7	Elect  Director Safra Catz		Management	For	For
1.8	Elect  Director Hector Garcia-Molina		Management	For	For
1.9	Elect  Director Joseph A. Grundfest		Management	For	For
1.1	Elect  Director H. Raymond Bingham		Management	For	For
1.11	Elect  Director Charles E. Phillips, Jr.		Management	For	.  For
2	Approve Executive Incentive Bonus Plan		Management	For	For
3	Ratify Auditors		Management	For	For
4	Amend Omnibus Stock Plan		Management	For	For
5	Implement China Principles		Shareholder	Against	Against
PALM INC.
Ticker:  PALM                             Security ID:   69713P107
Meeting Date:  Sep 30, 2004                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Gordon A. Campbell		Management	For	For
1.2	Elect  Director Donna L. Dubinsky		Management	Withhold	For
1.3	Elect  Director Susan G. Swensson		Management	For	For
2	Amend Omnibus Stock Plan		Management	Against	For
3	Ratify Auditors		Management	For	For
PALMSOOURCE, INC.
Ticker:  PSRC                                Security ID:   697154102
Meeting Date:  Oct 28, 2004     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Betsy Rafael		Management	For	For
1.2	Elect  Director Jean-Louis Gassee		Management	Withhold	For
2	Ratify Auditors		Management	For	For
PLUG POWER, INC.
Ticker:  PLUG                               Security ID:   72919P103
Meeting Date:  May 18, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Richard R. Stewart		Management	For	For
1.2	Elect  Director Larry G. Garbeerding		Management	For	For
1.3	Elect  Director John M. Shalikashvili		Management	For	For
RESEARCH IN MOTION LTD
Ticker:  RIM                      Security ID:   760975102
Meeting Date:  Jul 12, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Elect Michael Lazaridis, James Balsillie,		Management	For	e, For
	Douglas Fregin, Kendall Cork, James
	Estill, John Richardson, Douglas Wright
	as Directors
2	Approve Ernst & Young LLP as Auditors and for		Management	For	nd For
	Authorize Board to Fix Remuneration of
	Auditors
3	Make Greater Effort to Locate Women for		Shareholder	For	Against
	Board Nomination and Senior Officer
	Positions
SIGMATEL INC.
Ticker:  SGTL              Security ID:   82661W107
Meeting Date:  Apr 21, 2005            Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Alexander M. Davern		Management	For	For
1.2	Elect  Director Robert T. Derby		Management	For	For
2	Approve Omnibus Stock Plan		Management	For	For
SYMANTEC CORP.
Ticker:  SYMC                                      Security ID:  871503108
Meeting Date:  Jun 24, 2005          Meeting Type:  Special
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1	Approve Merger Agreement		Management	For	For
2	Increase Authorized Common Stock		Management	For	For
3	Adjourn Meeting		Management	For	For
SYMBOL TECHNOLOGIES, INC.
Ticker:  SBL                            Security ID:   871508107
Meeting Date:  May 9, 2005         Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Robert J. Chrenc		Management	For	For
1.2	Elect Director Salvatore Iannuzzu		Management	For	For
1.3	Elect Director Edward R. Kozel		Management	For	For
1.4	Elect Director William R. Nuti		Management	For	For
1.5	Elect Director George Samenuk		Management	For	For
1.6	Elect Director Melvin A. Yellin		Management	For	For
2	Ratify Auditors		Management	For	For
TERADYNE, INC.
Ticker:  TER                           Security ID:   880770102
Meeting Date:  May 26, 2005              Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James W. Bagley		Management	For	For
1.2	Elect  Director Michael A. Bradley		Management	For	For
1.3	Elect  Director Vincent M. O'Reilly		Management	For	For
2	Ratify Auditors		Management	For	For
TIBCO SOFTWARE, INC.
Ticker:  TIBX                          Security ID:   88632Q103
Meeting Date:  Apr 21, 2005     Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Vivek Y. Ranadive		Management	For	For
1.2	Elect  Director Bernard Bourigeaud		Management	For	For
1.3	Elect  Director Eric Dunn		Management	For	For
1.4	Elect  Director Naren Gupta		Management	For	For
1.5	Elect  Director Peter Job		Management	For	For
1.6	Elect  Director Philip K. Wood		Management	For	For
2	Ratify Auditors		Management	For	For
VERITAS SOFTWARE CORP.
Ticker:  VRTS                      Security ID:   923436109
Meeting Date:  Aug 25, 2004                 Meeting Type: Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Michael Brown		Management	For	For
1.2	Elect  Director Kurt J. Lauk		Management	For	For
1.3	Elect  Director Fred van den Bosch		Management	For	For
2	Amend Stock Option Plan		Management	For	For
3	Ratify Auditors		Management	For	For
WEBMETHODS, INC.
Ticker:  WEBM                               Security ID:   94768C108
Meeting Date:  Aug 26, 2004           Meeting Type:  Annual
Proposal
number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director James P. Gauer		Management	For	For
1.2	Elect  Director Jack L. Lewis		Management	For	For
1.3	Elect  Director Gene Riechers		Management	For	For
2	Ratify Auditors		Management	For	For
XM SATELLITE RADIO HOLDINGS INC.
Ticker:  XMSR                             Security ID:   983759101
Meeting Date:  May 26, 2005                Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect  Director Gary M. Parsons		Management	For	For
1.2	Elect  Director Hugh Panero		Management	For	For
1.3	Elect  Director Nathaniel A. Davis		Management	For	For
1.4	Elect  Director Thomas J. Donohue		Management	For	For
1.5	Elect  Director Eddy W. Hartenstein		Management	For	For
1.6	Elect  Director George W. Haywood		Management	For	For
1.7	Elect  Director Chester A. Huber, Jr.		Management	For	For
1.8	Elect  Director John Mendel		Management	For	For
1.9	Elect  Director Jarl Mohn		Management	For	For
1.1	Elect  Director Pierce J. Roberts, Jr.		Management	For	For
1.11	Elect  Director Jack Shaw		Management	For	For
2	Ratify Auditors		Management	For	For
YAHOO! INC.
Ticker:  YHOO                            Security ID:   984332106
Meeting Date:  May 19, 2005       Meeting Type:  Annual
Proposal
Number	Proposal		Sponsor	Vote Cast	Mgt Rec
1.1	Elect Director Terry S. Semel		Management	For	For
1.2	Elect Director Jerry Yang		Management	For	For
1.3	Elect Director Roy J. Bostock		Management	For	For
1.4	Elect Director Ronald W. Burkle		Management	For	For
1.5	Elect Director Eric Hippeau		Management	For	For
1.6	Elect Director Arthur H. Kern		Management	Withhold	For
1.7	Elect Director Robert A. Kotick		Management	Withhold	For
1.8	Elect Director Edward R. Kozel		Management	For	For
1.9	Elect Director Gary L. Wilson		Management	Withhold	For
2	Amend Omnibus Stock Plan		Management	For	For
3	Amend Non-Employee Director Stock Option Plan		Management	For	For
4	Ratify Auditors		Management	For	For
SIGNATURES
Pursuant to the the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) SM&R Investments, Inc.
By (Signature and Title)  /s/ Brenda T. Koelemay
Date  August 30, 2005