FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF
REGISTERED MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-08587
Jennison 20/20 Focus Fund
(Exact name of registrant as specified in charter)
100 Mulberry Street, Gateway Center Three, 4 th Floor, Newark, NJ 07102
(Address of principal executive offices) (Zip Code)
Jonathan D. Shain, Esq.
100 Mulberry Street, Gateway Center Three, 4 th Floor, Newark, NJ 07102
(Name and address of agent for service)
Registrant's telephone number, including area code: 973-802-6469
Date of fiscal year-end: January 31
Date of reporting period: June 30, 2008
Item 1. Proxy Voting Record
In determining votes against management, any ballot that management did not
make a recommendation is considered to be "FOR" regardless of the vote cast.
Any "Abstain" vote cast is considered as voted, and to be against the
management recommendation.
******************************* FORM N-Px REPORT *******************************
ICA File Number: 811-08587
Reporting Period: 07/01/2007 - 06/30/2008
Jennison 20/20 Focus Fund
========== JENNISON 20/20 FOCUS FUND - GROWTH - SUB-ADVISER: JENNISON ==========
APPLE INC
Ticker: Security ID: 037833100
Meeting Date: MAR 4, 2008 Meeting Type: A
Record Date: JAN 15, 2008
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Nominee - WILLIAM V. CAMPBELL FOR FOR Management
1.2 Elect Nominee - MILLARD S. DREXLER FOR FOR Management
1.3 Elect Nominee - ALBERT A. GORE, JR. FOR FOR Management
1.4 Elect Nominee - STEVEN P. JOBS FOR FOR Management
1.5 Elect Nominee - ANDREA JUNG FOR FOR Management
1.6 Elect Nominee - ARTHUR D. LEVINSON FOR FOR Management
1.7 Elect Nominee - ERIC E. SCHMIDT FOR FOR Management
1.8 Elect Nominee - JEROME B. YORK FOR FOR Management
2 Ratify Appointment of Auditors FOR FOR Management
3 Allow Advisory Vote on Executive AGAINST AGAINST Shareholder
Compensation
4 Amend Bylaws to Establish Sustainability AGAINST AGAINST Shareholder
Committee
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CISCO SYSTEMS INC
Ticker: Security ID: 17275R102
Meeting Date: NOV 15, 2007 Meeting Type: A
Record Date: SEP 17, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1A Elect Nominee: CAROL A. BARTZ For For Management
1B Elect Nominee: M. MICHELE BURNS For For Management
1C Elect Nominee: MICHAEL D. CAPELLAS For For Management
1D Elect Nominee: LARRY R. CARTER For For Management
1E Elect Nominee: JOHN T. CHAMBERS For For Management
1F Elect Nominee: BRIAN L. HALLA For For Management
1G Elect Nominee: DR. JOHN L. HENNESSY For For Management
1H Elect Nominee: RICHARD M. KOVACEVICH For For Management
1I Elect Nominee: RODERICK C. MCGEARY For For Management
1J Elect Nominee: MICHAEL K. POWELL For For Management
1K Elect Nominee: STEVEN M. WEST For For Management
1L Elect Nominee: JERRY YANG For For Management
2 Add Shares/Amend Stock Plan for For Against Management
Employees/Directors
3 Approve Executive Incentive Plan For For Management
4 Ratify Appointment of Auditors - For For Management
PricewaterhouseCoopers LLP
5 Amend Bylaws To Establish Committee on Against Against Shareholder
Human Rights
6 Award Pay for Superior Performance Against Against Shareholder
7 Allow Advisory Vote on Executive Against Against Shareholder
Compensation
8 Report on Internet Fragmentation Against Against Shareholder
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CISCO SYSTEMS INC
Ticker: Security ID: 17275R102
Meeting Date: NOV 15, 2007 Meeting Type: A
Record Date: SEP 17, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1A Elect Nominee: CAROL A. BARTZ For For Management
1B Elect Nominee: M. MICHELE BURNS For For Management
1C Elect Nominee: MICHAEL D. CAPELLAS For For Management
1D Elect Nominee: LARRY R. CARTER For For Management
1E Elect Nominee: JOHN T. CHAMBERS For For Management
1F Elect Nominee: BRIAN L. HALLA For For Management
1G Elect Nominee: DR. JOHN L. HENNESSY For For Management
1H Elect Nominee: RICHARD M. KOVACEVICH For For Management
1I Elect Nominee: RODERICK C. MCGEARY For For Management
1J Elect Nominee: MICHAEL K. POWELL For For Management
1K Elect Nominee: STEVEN M. WEST For For Management
1L Elect Nominee: JERRY YANG For For Management
2 Add Shares/Amend Stock Plan for For Against Management
Employees/Directors
3 Approve Executive Incentive Plan For For Management
4 Ratify Appointment of Auditors - For For Management
PricewaterhouseCoopers LLP
5 Amend Bylaws To Establish Committee on Against Against Management
Human Rights
6 Award Pay for Superior Performance Against Against Management
7 Allow Advisory Vote on Executive Against Against Management
Compensation
8 Report on Internet Fragmentation Against Against Management
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MONSANTO CO
Ticker: Security ID: 61166W101
Meeting Date: JAN 16, 2008 Meeting Type: A
Record Date: NOV 19, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1A Elect Nominee - JOHN W. BACHMANN FOR FOR Management
1B Elect Nominee - WILLIAM U. PARFET FOR FOR Management
1C Elect Nominee - GEORGE H. POSTE, PH.D., FOR FOR Management
D.V.M.
2 Ratify Appointment of Auditors FOR FOR Management
3 Appoint Separate/Independent Board Chair AGAINST AGAINST Shareholder
4 Limit Indemnification Re Environmental, AGAINST AGAINST Shareholder
Health and Human Rights Issues
========== JENNISON 20/20 FOCUS FUND - VALUE - SUB-ADVISER: JENNISON ===========
BLOCK H & R INC
Ticker: Security ID: 093671105
Meeting Date: DEC 14, 2007 Meeting Type: S
Record Date: NOV 2, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1 Eliminate Classified Board For For Management
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BLOCK H & R INC
Ticker: Security ID: 093671105
Meeting Date: DEC 14, 2007 Meeting Type: S
Record Date: NOV 2, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1 Eliminate Classified Board For For Management
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CONAGRA FOODS INC.
Ticker: CAG Security ID: 205887102
Meeting Date: SEP 27, 2007 Meeting Type: Annual
Record Date: AUG 2, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Mogens C. Bay For For Management
1.2 Elect Director Steven F. Goldstone For For Management
1.3 Elect Director W.G. Jurgensen For For Management
1.4 Elect Director Ruth Ann Marshall For For Management
1.5 Elect Director Gary M. Rodkin For For Management
1.6 Elect Director Andrew J. Schindler For For Management
2 Ratify Auditors For For Management
3 Report on Feasibility of Improving Animal Against Against Shareholder
Welfare Standards
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H&R BLOCK, INC.
Ticker: HRB Security ID: 093671105
Meeting Date: SEP 6, 2007 Meeting Type: Proxy Contest
Record Date: JUL 5, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1 Elect Director Donna R. Ecton For Did Not Management
Vote
2 Elect Director Louis W. Smith For Did Not Management
Vote
3 Elect Director Rayford Wilkins, Jr. For Did Not Management
Vote
4 Ratify Auditors For Did Not Management
Vote
5 Separate Chairman and CEO Positions Against Did Not Shareholder
Vote
1 Elect Director Richard C. Breeden For For Management
2 Elect Director Robert A. Gerard For For Management
3 Elect Director L. Edward Shaw, Jr. For For Management
4 Ratify Auditors For For Management
5 Separate Chairman and CEO Positions For For Shareholder
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SEMPRA ENERGY
Ticker: SRE Security ID: 816851109
Meeting Date: MAY 22, 2008 Meeting Type: A
Record Date: APR 4, 2008
# Proposal Mgt Rec Vote Cast Sponsor
1 Elect Nominee - RICHARD A. COLLATO FOR FOR Management
2 Elect Nominee - WILFORD D. GODBOLD JR. FOR FOR Management
3 Elect Nominee - RICHARD G. NEWMAN FOR FOR Management
4 Elect Nominee - CARLOS RUIZ SACRISTAN FOR FOR Management
5 Elect Nominee - WILLIAM C. RUSNACK FOR FOR Management
6 Elect Nominee - WILLIAM P. RUTLEDGE FOR FOR Management
7 Elect Nominee - LYNN SCHENK FOR FOR Management
8 Elect Nominee - NEAL E. SCHMALE FOR FOR Management
9 Ratify Appointment of Auditors FOR FOR Management
10 Approve 2008 Long Term Incentive Plan FOR FOR Management
11 Eliminate Supermajority Vote FOR FOR Management
12 Allow Advisory Vote on Executive AGAINST AGAINST Shareholder
Compensation
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SYMANTEC CORP.
Ticker: SYMC Security ID: 871503108
Meeting Date: SEP 13, 2007 Meeting Type: Annual
Record Date: JUL 17, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1.1 Elect Director Michael Brown For For Management
1.2 Elect Director William T. Coleman For For Management
1.3 Elect Director Frank E. Dangeard For For Management
1.4 Elect Director David L. Mahoney For For Management
1.5 Elect Director Robert S. Miller For For Management
1.6 Elect Director George Reyes For Withhold Management
1.7 Elect Director Daniel H. Schulman For For Management
1.8 Elect Director John W. Thompson For For Management
1.9 Elect Director V. Paul Unruh For For Management
2 Amend Outside Director Stock Awards in For Against Management
Lieu of Cash
3 Ratify Auditors For For Management
4 Advisory Vote to Ratify Named Executive Against Against Shareholder
Officers' Compensation
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XM SATELLITE RADIO HLDGS INC
Ticker: Security ID: 983759101
Meeting Date: NOV 13, 2007 Meeting Type: S
Record Date: OCT 1, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Merger with Sirius Satellite For For Management
Radio Inc.
2 Approve Adjournment of Meeting For For Management
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XM SATELLITE RADIO HLDGS INC
Ticker: Security ID: 983759101
Meeting Date: NOV 13, 2007 Meeting Type: S
Record Date: OCT 1, 2007
# Proposal Mgt Rec Vote Cast Sponsor
1 Approve Merger with Sirius Satellite For For Management
Radio Inc.
2 Approve Adjournment of Meeting For For Management
========== END NPX REPORT
SIGNATURES
Pursuant to the requirements of the Investment Company Act of 1940, the
registrant has duly caused this report to be signed on its
behalf by the undersigned, thereunto duly authorized.
Jennison 20/20 Focus Fund
By
/s/ Judy A. Rice*
(Jonathan D. Shain)
Judy A. Rice, President
(q) Power of Attorney dated July 1, 2008. Incorporated by reference to
corresponding exhibit to Post-Effective Amendment No. 33 to the
Registration Statement on Form N1-A for Jennison Natural Resources
Fund, Inc. (File No. 33-15166) filed via EDGAR on July 31, 2008.
Date: August 25, 2008