UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-PX ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-07577 WM Strategic Asset Management Portfolios, LLP (Exact name of registrant as specified in charter) 1201 Third Avenue, 22nd Floor, Seattle, WA 98101 (Address of principal executive offices) (Zip code) William G. Papesh 1201 Third Avenue, 22nd Floor, Seattle, WA 98101 (Name and address of agent for service) Registrant's telephone number, including area code: (206) 461-3800 Date of fiscal year end: October 31, 2005 Date of reporting period: July 1, 2004 - June 30, 2005 ******************************* FORM N-Px REPORT ******************************* ICA File Number: 811-07577 Reporting Period: 07/01/2004 - 06/30/2005 WM Strategic Asset Management Portfolios, LLC ============================ WM BALANCED PORTFOLIO ============================= WM GROWTH FUND Ticker: N/A Security ID: 928966803 Meeting Date: FEB 5, 2005 Meeting Type: Special Record Date: DEC 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve an advisory agreement relating FOR FOR Management to the Fund among the Fund, WM Advisors, Inc. and Salomon Brothers Management, Inc - -------------------------------------------------------------------------------- WM SMALL CAP GROWTH FUND Ticker: N/A Security ID: 928966621 Meeting Date: MAR 24, 2005 Meeting Type: Special Record Date: FEB 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Oberweis Asset Management, Inc. 2 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Delaware Management Company ====================== WM CONSERVATIVE BALANCED PORTFOLIO ====================== WM GROWTH FUND Ticker: N/A Security ID: 928966803 Meeting Date: FEB 5, 2005 Meeting Type: Special Record Date: DEC 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve an advisory agreement relating FOR FOR Management to the Fund among the Fund, WM Advisors, Inc. and Salomon Brothers Management, Inc - -------------------------------------------------------------------------------- WM SMALL CAP GROWTH FUND Ticker: N/A Security ID: 928966621 Meeting Date: MAR 24, 2005 Meeting Type: Special Record Date: FEB 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Oberweis Asset Management, Inc. 2 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Delaware Management Company ======================= WM CONSERVATIVE GROWTH PORTFOLIO ======================= WM GROWTH FUND Ticker: N/A Security ID: 928966803 Meeting Date: FEB 5, 2005 Meeting Type: Special Record Date: DEC 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve an advisory agreement relating FOR FOR Management to the Fund among the Fund, WM Advisors, Inc. and Salomon Brothers Management, Inc - -------------------------------------------------------------------------------- WM SMALL CAP GROWTH FUND Ticker: N/A Security ID: 928966621 Meeting Date: MAR 24, 2005 Meeting Type: Special Record Date: FEB 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Oberweis Asset Management, Inc. 2 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Delaware Management Company ========================= WM FLEXIBLE INCOME PORTFOLIO ========================= WM GROWTH FUND Ticker: N/A Security ID: 928966803 Meeting Date: FEB 5, 2005 Meeting Type: Special Record Date: DEC 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve an advisory agreement relating FOR FOR Management to the Fund among the Fund, WM Advisors, Inc. and Salomon Brothers Management, Inc - -------------------------------------------------------------------------------- WM SMALL CAP GROWTH FUND Ticker: N/A Security ID: 928966621 Meeting Date: MAR 24, 2005 Meeting Type: Special Record Date: FEB 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Oberweis Asset Management, Inc. 2 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Delaware Management Company ======================== WM STRATEGIC GROWTH PORTFOLIO ========================= WM GROWTH FUND Ticker: N/A Security ID: 928966803 Meeting Date: FEB 5, 2005 Meeting Type: Special Record Date: DEC 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve an advisory agreement relating FOR FOR Management to the Fund among the Fund, WM Advisors, Inc. and Salomon Brothers Management, Inc - -------------------------------------------------------------------------------- WM SMALL CAP GROWTH FUND Ticker: N/A Security ID: 928966621 Meeting Date: MAR 24, 2005 Meeting Type: Special Record Date: FEB 1, 2005 # Proposal Mgt Rec Vote Cast Sponsor 1 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Oberweis Asset Management, Inc. 2 To approve or disapprove a sub-advisory FOR FOR Management agreement for the Fund among the Fund, WM Advisors, Inc. and Delaware Management Company ========== 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. WM Strategic Asset Management Portfolios, LLP By: /s/ William G. Papesh --------------------------------------------- William G. Papesh President and Chief Executive Officer Date August 18, 2005