UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-22128
FocusShares Trust
(Exact name of registrant as specified in charter)
210 Summit Avenue, Suite C11
Montvale NJ 07645
(Address of principal executive offices) (Zip code)
Erik Liik
FocusShares LLC
210 Summit Avenue, Suite C11
Montvale NJ 07645
(Name and Address of Agent for Service)
With a copy to:
Kathleen Moriarty, Esq.
Katten Muchin Rosenman LLP
575 Madison Avenue
New York, New York 10022
Registrant's telephone number, including area code: (201) 930-8500
Date of fiscal year end: September 30
Date of reporting period: November 30, 2007 to June 30, 2008
ITEM 1. PROXY VOTING RECORD.
FOCUSSHARES ISE HOMEBUILDERS INDEX FUND* (SYMBOL: SAW)
FORM N-PX FOR PERIOD ENDED JUNE 30, 2008
ADVISER: FOCUSSHARES LLC SUB-ADVISER: NORTHERN TRUST INVESTMENTS, N.A.
DID
MGMT OR FUND
NAME OF ISSUER TICKER CUSIP MEETING SHRHLDR CAST HOW FUND FOR OR
OF SECURITY SYMBOL NUMBER DATE MATTER VOTED ON PROPOSED VOTE CAST VOTE AGNST MGMT
-------------- ------ --------- -------- ----------------------------- ------------ ------- -------------- ----------
1 Avatar Holdings Inc. AVTR 053494100 05/29/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
2 Beazer Homes USA Inc. BZH 07556Q105 08/05/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
3-Amend Stk. Incentive Plan
4-Amend Stk. Incentive Plan
3 Brookfield Homes BHS 112723101 05/01/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
4 Centex Corp. CTX 152312104 07/10/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Approve Auditor 1,2,3,4,5,6 1,2,3,4,5,6,8
3-MP-Articles of
Incorporation Shrhldr. AGAINST
4-MP-Amend Annual Incentive 7,8 7
Compensation Plan
5-MP-Amend Goals of Equity
Incentive Plan
6-MP-Amend Equity Incentive
Plan
7-SP-Regarding Climate Change
8-SP-Declassification of
Board
5 Champion Enterprises Inc. CHB 158496109 05/07/08 1-Elect Directors Mgmt. NO
6 DR Horton DHI 23331A109 01/31/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Amend Incentive Bonus 1,2,3,5 ALL
Plan
3-MP-Performance Unit Plan Shrhldr.
4-SP-Pay-For Superior 4
Performance Standard
5-MP-Other Business
* The FocusShares ISE Homebuilders Index Fund began operations on November
30, 2007.
1
7 Gafisa SA GFA 362607301 04/04/08 A1-Receive Management Mgmt. YES FOR FOR
Account and Financial ALL
Statements
A2-Approve destination of
Net Profits
A3-Approve Management
Compensation
A4- Elect Directors
E1-Amend By-Laws - Article 2
E2-Amend By-Laws - Article 5
E3-Amend By-Laws
Article 21(D)
E4-Amend By-Laws
Article 21(R)
E5-Approve New Wording in
Proposal E1 thru E4 and
their Consolidation into the
By-Laws
8 Hovnanian Enterprises Inc. HOV 442487203 03/31/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
3-Amend Sr. Exec. Incentive
Plan
4-Stk. Incentive Plan
5-Amend Stk. Option Plan
9 KB Homes KBH 48666K109 04/03/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Amend Incentive Bonus 1,2 ALL
Plan
3-SP-Excutive Compensation Shrhldr.
4-SP-Severance Agreements 3,4
10 Lennar Corp. LEN 526057104 04/08/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP- Approve Auditor 1,2,3 1,2,3,4
3-MP-Declassify the Board
4-SP-Pay-For Superior Shrhldr. AGAINST
Performance Standard 4,5 5
5-SP-Compliance Committee
11 Levitt Corp.* LEV 52742P108 05/20/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Cert. of Inc. (Name
Change)
* As of May 25, 2008, the Levitt Corp. is known as the Woodbridge Holdings
Corp.
2
12 M/I Homes Inc. MHO 55305B101 05/06/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
13 M.D.C. Holdings Inc. MDC 552676108 04/29/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Amend Executive 1,2, 3,4,6 1,2,3,4,6
Performance-Based Comp. Plan
3-MP- Amendment to Reprice Shrhldr. AGAINST
Stock Options held by 5 5
Employees
4-MP-Amendment to Reprice
Stock Options held by
Independent Directors
5-SP-New Compliance Committee
6-MP-Approve Auditor
14 Meritage Homes Corp. MTH 59001A102 05/15/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor 1,2,3,4
3-Amend Stock Incentive Plan
to Increase Shares AGAINST
4-Amend Stock Incentive Plan 5
to Limit Number of Shares
that may be Granted
5-Create New Preferred
15 NVR Inc. NVR 62944T105 05/06/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
16 Palm Harbor Homes, Inc. PHHM 696639103 07/23/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
17 Pulte Homes, Inc. PHM 745867101 05/15/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Senior Management 1,2,3 1,2, 3,4,5
Incentive Plan
3-MP-Approve Auditor Shrhldr. AGAINST
4-SP-Changing Voting Quorum 4,5,6,7,8,9 6,7,8,9
5-SP-Declassification of
Board
6-SP-Use of Performance
Based Options
7-SP-Request for Annual
Advisory Votes on Executive
Compensation
8-SP-Report on Climate Change
9-SP-Establish Oversight
Committee for Nontraditional
Loans
3
18 Ryland Group Inc. RYL 783764103 04/23/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Equity Incentive Plan 1,2,3,4,5,7 1,2,3,4,5,7
3-MP-Approve Senior
Executive Performance Plan Shrhldr. AGAINST
to Comply with Internal 6 6
Revenue Code, Section 162(M)
4-MP- Approve Incentive Plan
to Comply with Internal
Revenue Code, Section 162(M)
5-MP-Approve Performance
Award Program to Comply with
Internal Revenue Code,
Section 162(M)
6-SP-Adopt Goals for
Reducing Greenhouse Gases
7-MP- Approve Auditor
19 Standard Pacific Corp. SPF 85375C101 05/14/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Equity Incentive Plan 1,2,5 1,2,3,5
3-SP-Declassify Board
4-SP-Adopt Goals for Shrhldr. AGAINST
Reducing Greenhouse Gases 3,4 4
5-MP- Approve Auditor
20 Toll Brothers Inc. TOL 889478103 03/12/08 1-Elect Directors Mgmt. YES FOR FOR
2-CEO Cash Bonus Plan
3-Amend Stk. Incentive Plan
for Employees
4-Amend Stk. Incentive Plan
for Non-Employee Directors
5-Amend Stk. Option Exchange
Program
6-Approve Auditor
4
FOCUSSHARES ISE - CCM HOMELAND SECURITY INDEX FUND* (SYMBOL: MYP)
FORM N-PX FOR PERIOD ENDED JUNE 30, 2008
ADVISER: FOCUSSHARES LLC SUB-ADVISER: NORTHERN TRUST INVESTMENTS, N.A.
DID HOW
MGMT OR FUND FUND FOR OR
NAME OF ISSUER TICKER CUSIP MEETING SHRHLDR CAST CAST AGNST
OF SECURITY SYMBOL NUMBER DATE MATTER VOTED ON PROPOSED VOTE VOTE MGMT
-------------------------- ------ --------- -------- ------------------------------------- -------- ---- ---- ------
1 ActivIdentity Corp. ACTI 00506P103 03/13/08 1-Elect Directors Mgmt. NO
2-Ratify appointment of Auditor
2 Applied Signal APSG 038237103 03/18/08 1-Elect Directors Mgmt. YES FOR FOR
Technologies 2-Amend Stk. Incentive Plan
3-Approve Auditor
3 AVI Biopharma, Inc. AVII 002346104 05/20/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
4 BioCryst Pharmaceuticals, BCRX 09058V103 05/21/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Amend Stk. Incentive Plan
3-Amend Stk. Incentive Plan
4-Approve Auditor
5 Cepheid Inc. CPHD 15670R107 04/24/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Stk. Incentive Plan
3-Approve Auditor
6 Digimarc Corp. DMRC 253807101 05/01/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
7 Flir Systems FLIR 302445101 04/25/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Cert. of Inc. (Increase Auth.
Common)
3-Approve Auditor
8 L-1 Identity Solutions ID 50212A106 05/07/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Long-Term Incentive Plan
3-Approve Auditor
9 L3 Communications Holdings LLL 502424104 04/29/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Long-Term Performance Plan
3-Directors Stk. Incentive Plan
4-Approve Auditor
* The FocusShares ISE-CCM Homeland Security Index Fund began operations on
November 30, 2007.
1
10 Mantech Int'l. Corp. MANT 564563104 06/06/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
11 McAfee, Inc. MFE 579064106 07/28/08 1-Elect Directors Mgmt. YES FOR FOR
2-Executive Bonus Plan
3-Amend Stk. Incentive Plan
4-Approve Auditor
12 Mine Safety Appliances Co. MSA 602720104 05/13/08 1-Elect Directors Mgmt. YES FOR FOR
2-Mgmt. Equity Incentive Plan
3-Non-Employee Equity Incentive Plan
4-Approve Auditor
13 RAE Systems Inc. RAE 75061P102 06/18/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
14 Secure Computing Corp. SCUR 813705100 05/16/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Stock Incentive Plan
3-Amend Employee Stk. Purchase Plan
4-Approve Auditor
15 SI International, Inc. SINT 78427V102 06/09/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
16 SAIC, Inc. SAI 78390X101 05/30/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Equity Incentive Plan
3-Approve Auditor
17 Steris Corp. STE 859152100 07/25/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
18 Taser International, Inc. TASR 87651B104 05/28/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
19 Tetra Tech Inc. TTEK 88162G103 02/28/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
3-Other Business
20 Thermo Fisher Scientific TMO 883556102 05/20/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Stock Incentive Plan
3-Annual Incentive Award Plan
4-Approve Auditor
21 Unisys Inc. UIS 909214108 07/24/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
22 Zebra Technologies Corp. ZBRA 989207105 05/22/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
2
================================================================================
FOCUSSHARES ISE SINDEX FUND* (SYMBOL: PUF)
FORM N-PX FOR PERIOD ENDED JUNE 30, 2008
ADVISER: FOCUSSHARES LLC SUB-ADVISER: NORTHERN TRUST INVESTMENTS, N.A.
DID
MGMT OR FUND HOW FUND
NAME OF ISSUER TICKER CUSIP MEETING SHRHLDR CAST CAST FOR OR
OF SECURITY SYMBOL NUMBER DATE MATTER VOTED ON PROPOSED VOTE VOTE AGNST MGMT
-------------- ------ --------- -------- ---------------------------- ----------- ------ ----------- ----------
1 Altria Group, Inc. MO 02209S103 05/28/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Approve Auditor 1,2 1,2
3-SP-Say on Executive Pay
4-SP-Cumulative Voting Shrhldr. AGAINST
5-SP-Apply Global Practices 3,4,5,6,7,8 3,4,5,6,7,8
6-SP-Stop Youth Ad Campaign
7-SP-Two Cigarette Approach
to Marketing
8-SP-Endorse health Care
Principles
2 Ameristar Casinos, Inc. ASCA 03070Q101 06/20/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Stk. Incentive Plan
3 Anheuser-Busch Cos. BUD 035229103 04/23/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-LT Equity Incentive 1,2,3 1,2,3
Plan for Non-Employee
Directors Shrhldr. AGAINST
3-MP-Approve Auditor 4,5,6 4,5,6
4-SP-Report on Charitable
Contributions
5-SP-Special Shareholders
Mtg.
6-SP-Concerning Executive
Compensation
4 Bally Technologies BYI 05874B107 02/22/08 1-Elect Directors Mgmt. YES FOR FOR
2-Employee Stk. Purchase
Plan
3-Amend Stk. Incentive Plan
4-Approve Auditor
5 Boyd Gaming BYD 103304101 05/15/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
3-Amend Stk. Incentive Plan
* The FocusShares ISE Sindex Fund began operations on November 30, 2007.
1
6 British American Tobacco BTI 110448107 04/30/08 1-Receipt of 2007 Report Mgmt. NO
PLC and Accounts
2-Approval of 2007
Remuneration Report
3-Declaration of the final
dividend for 2007
4-Approve Auditors
5-Authority for the
Directors to agree the
Auditors remuneration
6- Election of Directors
7-Election of Directors
8-Renewal of Directors'
authority to allot shares
9-(Special) Renewal of
Director's authority to
disapply pre-emption rights
10-Approval of waiver of
offer obligation
11-(Special)Authority for
the Company to purchase its
own shares
12-(Special)Adoption of new
articles of association
7 Central European CEDC 153435102 05/05/08 1-Elect Directors Mgmt. YES FOR FOR
Distribution Corp. 2-Approve Auditor
8 Companhia de Bebidas Das ABV 20441W203 04/28/08 1-Authorize drawing up of Mgmt. NO
Americas-AMBEV minutes
2-GM-Approval of Annual
Report and Financial
Statements
3-GM-Approve appropriation
of net income
4-GM- Approval of global
compensation of the
companies management
5-GM-Election of Directors
6-GM-Electiono Fiscal
Council members - common
shares shareholders
7-GM-Election of Fiscal
Council member-preferred
shares shareholders
8-GM-Approval of Fiscal
Council Members'
compensation
2
9-GM-Approval of official
newspapers for legal
publication and notices to
shareholders
10-EGM-Approve a capital
increase
11-EGM-Approve a new
increase of companies
capital
12-EGM-Approve the
cancellation of common and
preferred shares held in
treasury
13-EGM-Approve amendment to
Clause 5 of companies bylaws
14-EGM-Approval of
consolidation of the
companies bylaws
9 Constellation Brands, Inc. STZ 21036P108 07/17/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
10 Las Vegas Sands Corp. LVS 517834107 06/10/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
3-Amend Equity Award Plan
4-Exec. Cash Incentive Plan
11 Loews Corp. LTR 540424207 05/13/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Approve Auditor 1,2 1,2,3,4
3-SP-Cumulative Voting
4-SP-Pay-For Superior Shrhldr. AGAINST
Performance Standard 3,4,5,6 5,6
5-SP-Health Care Reform
6-SP-Advertising
Expenditures
12 Melco PBL Entertainment MPEL 585464100 05/27/08 1-Ratification of Financial Mgmt. YES FOR FOR
Ltd. Statements
2- Approve Auditor
3-Approve Name Change
13 MGM MIRAGE MGM 552953101 05/13/08 Mgmt. YES FOR FOR
1-MP-Elect Directors 1,2 1,2
2-MP-Approve Auditor
3-SP-Conduct Dividend Shrhldr. AGAINST
Payment Study of Peer Group 3 3
14 Molson Coors Brewing Co. TAP 60871R209 05/15/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
3
15 Monarch Casino & Resort, MCRI 609027107 06/18/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Other Business
16 Pinnacle Entertainment, PNK 723456109 05/20/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Amend Equity &
Performance Incentive Plan
3-Re-Approve Equity &
Performance Incentive Plan
4-Amend Directors Deferred
Comp. Plan
5-Approve Auditor
17 Reynolds American Inc. RAI 761713106 05/06/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP- Approve Auditor 1,2 1,2
3-MP-Human Rights Protocols
4-SP-Endorsement of Health Shrhldr. AGAINST
Care Principles 3,4,5 3,4,5
5-SP-Two Cigarette Approach
to Marketing
18 Scientific Games Corp. SGMS 80874P109 06/05/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
3-Amend Incentive Comp. Plan
19 Shuffle Master Inc. SHFL 825549108 03/26/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
20 Universal Corp. UVV 913456109 08/05/08 1-Elect Directors Mgmt. YES FOR FOR
21 UST Inc. (Del.) UST 902911106 05/06/08 1-MP-Elect Directors Mgmt. YES FOR FOR
2-MP-Approve Auditor 1,2 1,2
3-SP-Shareholders Calling
for Special Meetings by Shrhldr. AGAINST
Stockholders 3,4 3,4
4-SP-Health Care Reform
Principles
22 Vector Group Ltd. VGR 92240M108 05/27/08 1-Elect Directors Mgmt. YES FOR FOR
23 Wynn Resorts, Ltd. WYNN 983134107 05/06/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Stock Incentive Plan
3-Approve Auditor
4
FOCUSSHARES ISE-REVERE WAL-MART SUPPLIER INDEX FUND* (SYMBOL: WSI)
FORM N-PX FOR PERIOD ENDED JUNE 30, 2008
ADVISER: FOCUSSHARES LLC SUB-ADVISER: NORTHERN TRUST INVESTMENTS, N.A.
DID
MGMT OR FUND HOW FUND FOR OR
NAME OF ISSUER TICKER CUSIP MEETING SHRHLDR CAST CAST AGNST
OF SECURITY SYMBOL NUMBER DATE MATTER VOTED ON PROPOSED VOTE VOTE MGMT
-------------- ------ --------- -------- -------------------------------- -------- ----- -------- ------
1 Chattem Inc. CHTT 162456107 04/09/08 1-Elect Directors Mgmt. YES FOR FOR
2-Cash Incentive Plan
3-Approve Auditor
2 Church & Dwight CHD 171340102 05/01/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Cert. of Inc.
3-Omnibus Equity Comp. Plan
4-Approve Auditor
3 Coinstar, Inc. CSTR 19259P300 06/03/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
4 Cott Corp. COT 22163N106 04/17/08 1-Elect Directors Mgmt. NO
2-Approve Auditors
5 CSS Industries, Inc. CSS 125906107 07/31/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Equity Comp. Plan
3-Mgmt. Incentive Plan
6 Dean Foods Co. DF 242370104 05/22/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
7 Diamond Foods Inc. DMND 252603105 03/25/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
8 Flowers Foods, Inc. FLO 343498101 05/30/08 1-Elect Directors Mgmt. YES FOR FOR
2-Amend Cert. of Inc. (Increase
Auth. Common)
3-Approve Auditor
9 Hanesbrands Inc. HBI 410345102 04/22/08 1-Elect Directors Mgmt. YES FOR FOR
2-Omnibus Incentive Plan
3-Annual Incentive Plan
4-Approve Auditor
5-Other Business
* The FocusShares ISE-Revere Wal-Mart Supplier Index Fund began operations on
November 30, 2007.
1
10 Hasbro Inc. HAS 418056107 05/22/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
11 Kellogg Co. K 487836108 04/25/08 Mgmt. YES FOR FOR
1-MP-Elect Directors 1,2 1,2
2-MP- Approve Auditor
3-SP-Majority Vote Requirement Shrhldr. AGAINST
3 3
12 Lance Inc. LNCE 514606102 04/24/08 1-Elect Directors Mgmt. YES FOR FOR
2-Directors Stock Plan
3-Approve Auditor
13 Leapfrog Enterprises, Inc. LF 52186N106 06/05/08 1-Elect Directors Mgmt. YES FOR FOR
2-One-Time Stock Option Exchange
Program
4-Approve Auditor
14 Mattel, Inc. MAT 577081102 05/29/08 Mgmt. YES FOR FOR
1-MP-Elect Directors 1,2 1,2
2-MP-Approve Auditor
3-SP-Certain Board Reports Shrhldr. AGAINST
3 3
15 Prestige Brands Holdings, PBH 74112D101 08/05/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Approve Auditor
16 Revlon, Inc. REV 761525500 06/05/08 1-Elect Directors Mgmt. YES FOR FOR
2-Approve Auditor
17 Scotts Miracle-Gro Co. SMG 810186106 01/31/08 1-Elect Directors Mgmt. YES FOR FOR
18 Spectrum Brands Inc. SPC 84762L105 04/29/08 Mgmt. YES FOR FOR
1-MP-Elect Directors 1,2 1,2
2-MP-Approve Auditor
3-SP-Declassify Board Shrhldr. AGAINST
3 3
19 Tootsie Roll Industries TR 890516107 05/05/08 1-Elect Directors Mgmt. YES FOR FOR
Inc. 2-Approve Auditor
2
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.
FocusShares Trust
By: /s/ Michael Voskian
--------------------------------
Michael Voskian
President
Date: August 21, 2008