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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 811-06628
------------------------------------------
The Yacktman Funds, Inc.
- ------------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
1110 Lake Cook Road
Suite 385
Buffalo Grove, IL 60089
- ------------------------------------------------------------------------------
(Address of principal executive offices) (Zip code)
Yacktman Asset Management Co.
1110 Lake Cook Road Suite 385
Buffalo Grove, IL 60089
- ------------------------------------------------------------------------------
(Name and address of agent for service)
Registrant's telephone number, including area code: 847-325-0707
--------------------------
Date of fiscal year end: 12/31
-------------------
Date of reporting period: 07/01/2004 - 06/30/2005
-----------------------
Form N-PX is to be used by a registered management investment company,
other than a small business investment company registered on Form N-5 (Sections
239.24 and 274.5 of this chapter), to file reports with the Commission, not
later than August 31 of each year, containing the registrant's proxy voting
record for the most recent twelve-month period ended June 30, pursuant to
section 30 of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17
CFR 270.30b1-4). The Commission may use the information provided on Form N-PX in
its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form
N-PX, and the Commission will make this information public. A registrant is not
required to respond to the collection of information contained in Form N-PX
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street,
NW, Washington, DC 20549-0609. The OMB has reviewed this collection of
information under the clearance requirements of 44 U.S.C. Section 3507.
PERSONS WHO ARE TO RESPOND TO THE COLLECTION OF INFORMATION
CONTAINED IN THIS FORM ARE NOT REQUIRED TO RESPOND UNLESS THE
SEC 2451 (4-03) FORM DISPLAYS A CURRENTLY VALID OMB CONTROL NUMBER.
ITEM 1. PROXY VOTING RECORD
The information contained herein discloses the following information for each
matter relating to a portfolio security considered at any shareholder meeting
held during the period covered by the report and with respect to which the
registrant was entitled to vote:
(a) The name of the issuer of the portfolio security;
(b) The exchange ticker symbol of the portfolio security;
(c) The Council on Uniform Securities Identification Procedures ("CUSIP")
number for the portfolio security;
(d) The shareholder meeting date;
(e) A brief identification of the matter voted on;
(f) Whether the matter was proposed by the issuer or by a security holder;
(g) Whether the registrant cast its vote on the matter;
(h) How the registrant cast its vote (e.g., for or against proposal, or abstain;
for or withhold regarding election of directors); and
(i) Whether the registrant cast its vote for or against management.
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
Investment Company Act file number:
- -------------------------------------------------------------------------
(Exact name of registrant as specified in charter)
- -------------------------------------------------------------------------
(Address of principal executive offices)
- -------------------------------------------------------------------------
(Name and address of agent for service)
Registrant's telephone number, including area code:
Date of Fiscal year-end: 6/30/2005
---------
Date of reporting period: 7/1/2004 - 6/30/2005
--------------------
Item 1. Proxy Voting Record
Account Number: YAFFX The Yacktman Focused Fund
ISSUER NAME TICKER CUSIP MTG DATE MTG TYPE
PROPOSAL FOR/AGNST
TYPE VOTED? VOTE MGMT
ALTRIA GROUP INC MO 02209S103 4/28/05 ANNUAL
1.01 Elect Elizabeth E. Bailey MGMT YES FOR FOR
1.02 Elect Harold Brown MGMT YES FOR FOR
1.03 Elect Mathis Cabiallavetta MGMT YES FOR FOR
1.04 Elect Loius C. Camilleri MGMT YES FOR FOR
1.05 Elect Dudley Fishburn MGMT YES FOR FOR
1.06 Elect Robert E.R. Huntley MGMT YES FOR FOR
1.07 Elect Thomas W. Jones MGMT YES WHOLD AGNST
1.08 Elect George Munoz MGMT YES FOR FOR
1.09 Elect Lucio A. Noto MGMT YES FOR FOR
1.10 Elect John S. Reed MGMT YES FOR FOR
1.11 Elect Carlos Slim Helu MGMT YES FOR FOR
1.12 Elect Stephen M. Wolf MGMT YES FOR FOR
2 Adopt the 2005 Performance Incentive Plan MGMT YES FOR FOR
3 Adopt the 2005 Stock Compensation Plan for Non-Employee MGMT YES FOR FOR
Directors
4 Ratify selection of auditors MGMT YES FOR FOR
5 Review or promote animal welfare SHLDR YES AGNST FOR
6 Review or reduce tobacco harm to health SHLDR YES AGNST FOR
7 Review or reduce tobacco harm to health SHLDR YES AGNST FOR
8 Review or reduce tobacco harm to health SHLDR YES AGNST FOR
BRISTOL MYERS SQUIBB BMY 110122108 5/3/05 ANNUAL
1.01 Elect Vance D. Coffman MGMT YES WHOLD AGNST
1.02 Elect James M. Cornelius MGMT YES WHOLD AGNST
1.03 Elect Peter R. Dolan MGMT YES FOR FOR
1.04 Elect Ellen V. Futter MGMT YES FOR FOR
1.05 Elect Louis V. Gerstner Jr. MGMT YES FOR FOR
1.06 Elect Leif Johansson MGMT YES WHOLD AGNST
1.07 Elect Louis W. Sullivan MGMT YES WHOLD AGNST
2 Ratify selection of auditors MGMT YES AGNST AGNST
3 Eliminate supermajority lock-in MGMT YES FOR FOR
4 Review political spending or lobbying SHLDR YES AGNST FOR
5 Review AIDS pandemic's impact on company SHLDR YES AGNST FOR
6 Review or promote animal welfare SHLDR YES AGNST FOR
7 Independent board chairman SHLDR YES FOR AGNST
8 Restrict executive compensation SHLDR YES FOR AGNST
9 Restrict executive compensation SHLDR YES FOR AGNST
10 Majority vote to elect directors SHLDR YES FOR AGNST
COCA-COLA CO KO 191216100 4/19/05 ANNUAL
1.01 Elect Herbert A. Allen MGMT YES FOR FOR
1.02 Elect Ronald W. Allen MGMT YES FOR FOR
1.03 Elect Cathleen P. Black MGMT YES FOR FOR
1.04 Elect Warren E. Buffett MGMT YES FOR FOR
1.05 Elect Barry Diller MGMT YES FOR FOR
1.06 Elect Edward Neville Isdell MGMT YES FOR FOR
1.07 Elect Donald R. Keough MGMT YES FOR FOR
1.08 Elect Maria Elena Lagomasino MGMT YES FOR FOR
1.09 Elect Donald F. McHenry MGMT YES FOR FOR
1.10 Elect Samuel A. Nunn Jr. MGMT YES WHOLD AGNST
1.11 Elect J. Pedro Reinhard MGMT YES FOR FOR
1.12 Elect James D. Robinson III MGMT YES FOR FOR
1.13 Elect Peter V. Ueberroth MGMT YES FOR FOR
1.14 Elect James B. Williams MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Review operations' impact on local groups SHLDR YES AGNST FOR
4 Restrict executive compensation SHLDR YES FOR AGNST
5 Golden parachutes SHLDR YES FOR AGNST
COLGATE-PALMOLIVE CO CL 194162103 5/4/05 ANNUAL
1.01 Elect Jill K. Conway MGMT YES FOR FOR
1.02 Elect Ronald E. Ferguson MGMT YES FOR FOR
1.03 Elect Ellen M. Hancock MGMT YES FOR FOR
1.04 Elect David W. Johnson MGMT YES FOR FOR
1.05 Elect Richard J. Kogan MGMT YES WHOLD AGNST
1.06 Elect Delano E. Lewis MGMT YES FOR FOR
1.07 Elect Reuben Mark MGMT YES FOR FOR
1.08 Elect Elizabeth A. Monrad MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Adopt Stock Incentive Plan MGMT YES FOR FOR
4 Adopt Director Stock Incentive Plan MGMT YES FOR FOR
5 Restrict executive compensation SHLDR YES AGNST FOR
KRAFT FOODS INC KFT 50075N104 4/26/05 ANNUAL
1.01 Elect Jan Bennink MGMT YES FOR FOR
1.02 Elect Loius C. Camilleri MGMT YES FOR FOR
1.03 Elect Roger K. Deromedi MGMT YES FOR FOR
1.04 Elect Dinyar S. Devitre MGMT YES FOR FOR
1.05 Elect W. James Farrell MGMT YES FOR FOR
1.06 Elect Betsy D. Holden MGMT YES FOR FOR
1.07 Elect Richard A. Lerner MGMT YES FOR FOR
1.08 Elect John C. Pope MGMT YES FOR FOR
1.09 Elect Mary L. Schapiro MGMT YES FOR FOR
1.10 Elect Charles R. Wall MGMT YES FOR FOR
1.11 Elect Deborah C. Wright MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Adopt the The 2005 Plan MGMT YES FOR FOR
4 Review or curb bioengineering SHLDR YES AGNST FOR
LIBERTY MEDIA CORP L 530718105 6/8/05 ANNUAL
1.01 Elect David E. Rapley MGMT YES FOR FOR
1.02 Elect Larry E. Romrell MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
MARSH & MCLENNAN
COMPANIES INC MMC 571748102 5/19/05 ANNUAL
1.01 Elect Michael G Cherkasky MGMT YES FOR FOR
1.02 Elect Stephen R. Hardis MGMT YES WHOLD AGNST
1.03 Elect Lord Lang MGMT YES WHOLD AGNST
1.04 Elect Morton O. Schapiro MGMT YES WHOLD AGNST
1.05 Elect Adele Simmons MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Exchange underwater options MGMT YES AGNST AGNST
4 Restrict executive compensation SHLDR YES AGNST FOR
5 Award performance-based stock options SHLDR YES FOR AGNST
6 Majority vote to elect directors SHLDR YES FOR AGNST
TRIZEC PROPERTIES INC TRZ 89687P107 5/19/05 ANNUAL
1.01 Elect Peter Munk MGMT YES FOR FOR
1.02 Elect Timothy H. Callahan MGMT YES FOR FOR
1.03 Elect L. Jay Cross MGMT YES FOR FOR
1.04 Elect M. Brian Mulroney MGMT YES FOR FOR
1.05 Elect James J. O'Connor MGMT YES FOR FOR
1.06 Elect Glenn J. Rufrano MGMT YES FOR FOR
1.07 Elect Richard M. Thomson MGMT YES FOR FOR
1.08 Elect Polyvios C. Vintiadis MGMT YES FOR FOR
1.09 Elect Stephen R. Volk MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
UNILEVER NV UN 904784709 5/10/05 ANNUAL
2 Approve financial statements MGMT YES FOR FOR
Set Dividend at 1.89
3 Ratify management acts-legal MGMT YES FOR FOR
4 Ratify board acts-legal MGMT YES FOR FOR
5 Amend board powers/procedures/qualifications MGMT YES FOR FOR
Amend articles--technical
Indemnify directors/officers
6.01 Elect Patrick Cescau MGMT YES FOR FOR
6.02 Elect C.J. van der Graaf MGMT YES FOR FOR
6.03 Elect Rudy H.P. Markham MGMT YES FOR FOR
6.04 Elect Ralph Kugler MGMT YES FOR FOR
7.01 Elect Antony Burgmans MGMT YES FOR FOR
7.02 Elect Rt. Honorable Lord Brittan of Spennithorne MGMT YES FOR FOR
7.03 Elect Baroness Chalker of Wallasey MGMT YES FOR FOR
7.04 Elect Bertrand P. Collomb MGMT YES FOR FOR
7.05 Elect Wim Dik MGMT YES FOR FOR
7.06 Elect Oscar Fanjul MGMT YES FOR FOR
7.07 Elect Hilmar Kopper MGMT YES FOR FOR
7.08 Elect Lord Simon of Highbury MGMT YES FOR FOR
7.09 Elect Jaroen Van Der Veer MGMT YES FOR FOR
8 Approve executive profit sharing/bonus plan MGMT YES FOR FOR
Approve remuneration policy
9 Cancel authorized stock class MGMT YES FOR FOR
10 Appoint outside auditors MGMT YES FOR FOR
11 Issue stock w/ or w/o preemptive rights MGMT YES FOR FOR
12 Authorize share repurchase MGMT YES FOR FOR
Account Number: YACKX The Yacktman Fund
<Table>
<Caption>
ISSUER NAME TICKER CUSIP MTG
DATE MTG TYPE
PROPOSAL FOR/AGNST
TYPE VOTED? VOTE MGMT
ALTRIA GROUP INC MO 02209S103 4/28/05 ANNUAL
1.01 Elect Elizabeth E. Bailey MGMT YES FOR FOR
1.02 Elect Harold Brown MGMT YES FOR FOR
1.03 Elect Mathis Cabiallavetta MGMT YES FOR FOR
1.04 Elect Loius C. Camilleri MGMT YES FOR FOR
1.05 Elect Dudley Fishburn MGMT YES FOR FOR
1.06 Elect Robert E.R. Huntley MGMT YES FOR FOR
1.07 Elect Thomas W. Jones MGMT YES WHOLD AGNST
1.08 Elect George Munoz MGMT YES FOR FOR
1.09 Elect Lucio A. Noto MGMT YES FOR FOR
1.10 Elect John S. Reed MGMT YES FOR FOR
1.11 Elect Carlos Slim Helu MGMT YES FOR FOR
1.12 Elect Stephen M. Wolf MGMT YES FOR FOR
2 Adopt the 2005 Performance Incentive Plan MGMT YES FOR FOR
3 Adopt the 2005 Stock Compensation Plan for
Non-Employee Directors MGMT YES FOR FOR
4 Ratify selection of auditors MGMT YES FOR FOR
5 Review or promote animal welfare SHLDR YES AGNST FOR
6 Review or reduce tobacco harm to health SHLDR YES AGNST FOR
7 Review or reduce tobacco harm to health SHLDR YES AGNST FOR
8 Review or reduce tobacco harm to health SHLDR YES AGNST FOR
BRISTOL MYERS SQUIBB BMY 110122108 5/3/05 ANNUAL
1.01 Elect Vance D. Coffman MGMT YES WHOLD AGNST
1.02 Elect James M. Cornelius MGMT YES WHOLD AGNST
1.03 Elect Peter R. Dolan MGMT YES FOR FOR
1.04 Elect Ellen V. Futter MGMT YES FOR FOR
1.05 Elect Louis V. Gerstner Jr. MGMT YES FOR FOR
1.06 Elect Leif Johansson MGMT YES WHOLD AGNST
1.07 Elect Louis W. Sullivan MGMT YES WHOLD AGNST
2 Ratify selection of auditors MGMT YES AGNST AGNST
3 Eliminate supermajority lock-in MGMT YES FOR FOR
4 Review political spending or lobbying SHLDR YES AGNST FOR
5 Review AIDS pandemic's impact on company SHLDR YES AGNST FOR
6 Review or promote animal welfare SHLDR YES AGNST FOR
7 Independent board chairman SHLDR YES FOR AGNST
8 Restrict executive compensation SHLDR YES FOR AGNST
9 Restrict executive compensation SHLDR YES FOR AGNST
10 Majority vote to elect directors SHLDR YES FOR AGNST
CADBURY SCHWEPPES PLC CSG 127209302 5/19/05 ANNUAL
1 Approve financial statements MGMT YES FOR FOR
2 To declare a dividend MGMT YES FOR FOR
3 Approve remuneration policy MGMT YES FOR FOR
4 To re-elect as a director Wolfgang Berndt MGMT YES FOR FOR
5 To re-elect as a director Bob Stack MGMT YES FOR FOR
6 To elect as a director Rosemary Thorne MGMT YES FOR FOR
7 To re-elect as a director Baroness Wilcox MGMT YES FOR FOR
8 Appoint outside auditors MGMT YES FOR FOR
9 Set auditors' fees MGMT YES FOR FOR
10 Issue stock w/ preemptive rights MGMT YES FOR FOR
11 Issue stock w/o preemptive rights MGMT YES FOR FOR
12 Authorize share repurchase MGMT YES FOR FOR
COCA-COLA CO KO 191216100 4/19/05 ANNUAL
1.01 Elect Herbert A. Allen MGMT YES FOR FOR
1.02 Elect Ronald W. Allen MGMT YES FOR FOR
1.03 Elect Cathleen P. Black MGMT YES FOR FOR
1.04 Elect Warren E. Buffett MGMT YES FOR FOR
1.05 Elect Barry Diller MGMT YES FOR FOR
1.06 Elect Edward Neville Isdell MGMT YES FOR FOR
1.07 Elect Donald R. Keough MGMT YES FOR FOR
1.08 Elect Maria Elena Lagomasino MGMT YES FOR FOR
1.09 Elect Donald F. McHenry MGMT YES FOR FOR
1.10 Elect Samuel A. Nunn Jr. MGMT YES WHOLD AGNST
1.11 Elect J. Pedro Reinhard MGMT YES FOR FOR
1.12 Elect James D. Robinson III MGMT YES FOR FOR
1.13 Elect Peter V. Ueberroth MGMT YES FOR FOR
1.14 Elect James B. Williams MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Review operations' impact on local groups SHLDR YES AGNST FOR
4 Restrict executive compensation SHLDR YES FOR AGNST
5 Golden parachutes SHLDR YES FOR AGNST
COLGATE-PALMOLIVE CO CL 194162103 5/4/05 ANNUAL
1.01 Elect Jill K. Conway MGMT YES FOR FOR
1.02 Elect Ronald E. Ferguson MGMT YES FOR FOR
1.03 Elect Ellen M. Hancock MGMT YES FOR FOR
1.04 Elect David W. Johnson MGMT YES FOR FOR
1.05 Elect Richard J. Kogan MGMT YES WHOLD AGNST
1.06 Elect Delano E. Lewis MGMT YES FOR FOR
1.07 Elect Reuben Mark MGMT YES FOR FOR
1.08 Elect Elizabeth A. Monrad MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Adopt Stock Incentive Plan MGMT YES FOR FOR
4 Adopt Director Stock Incentive Plan MGMT YES FOR FOR
5 Restrict executive compensation SHLDR YES AGNST FOR
ELECTRONIC DATA SYSTEMS CORP EDS 285661104 4/22/05 ANNUAL
NOT
1.01 Elect Roy W. Dunbar MGMT NO VOTED
NOT
1.02 Elect Michael H. Jordan MGMT NO VOTED
NOT
2 Ratify selection of auditors MGMT NO VOTED
NOT
3 Repeal classified board MGMT NO VOTED
NOT
4 Eliminate supermajority lock-in MGMT NO VOTED
JOHNSON & JOHNSON JNJ 478160104 4/28/05 ANNUAL
1.01 Elect Mary S. Coleman MGMT YES FOR FOR
1.02 Elect James G. Cullen MGMT YES FOR FOR
1.03 Elect Robert J. Darretta MGMT YES WHOLD AGNST
1.04 Elect Michael M. E. Johns MGMT YES FOR FOR
1.05 Elect Ann Dibble Jordan MGMT YES FOR FOR
1.06 Elect Arnold G. Langbo MGMT YES FOR FOR
1.07 Elect Susan L. Lindquist MGMT YES FOR FOR
1.08 Elect Leo F. Mullin MGMT YES FOR FOR
1.09 Elect Christine A. Poon MGMT YES FOR FOR
1.10 Elect Steven S. Reinemund MGMT YES FOR FOR
1.11 Elect David Satcher MGMT YES FOR FOR
1.12 Elect William C. Weldon MGMT YES WHOLD AGNST
2 Adopt Stock Incentive Plan MGMT YES FOR FOR
3 Ratify selection of auditors MGMT YES FOR FOR
KRAFT FOODS INC KFT 50075N104 4/26/05 ANNUAL
1.01 Elect Jan Bennink MGMT YES FOR FOR
1.02 Elect Loius C. Camilleri MGMT YES FOR FOR
1.03 Elect Roger K. Deromedi MGMT YES FOR FOR
1.04 Elect Dinyar S. Devitre MGMT YES FOR FOR
1.05 Elect W. James Farrell MGMT YES FOR FOR
1.06 Elect Betsy D. Holden MGMT YES FOR FOR
1.07 Elect Richard A. Lerner MGMT YES FOR FOR
1.08 Elect John C. Pope MGMT YES FOR FOR
1.09 Elect Mary L. Schapiro MGMT YES FOR FOR
1.10 Elect Charles R. Wall MGMT YES FOR FOR
1.11 Elect Deborah C. Wright MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Adopt the The 2005 Plan MGMT YES FOR FOR
4 Review or curb bioengineering SHLDR YES AGNST FOR
LIBERTY MEDIA CORP L 530718105 6/8/05 ANNUAL
1.01 Elect David E. Rapley MGMT YES FOR FOR
1.02 Elect Larry E. Romrell MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
MARSH & MCLENNAN COMPANIES INC MMC 571748102 5/19/05 ANNUAL
1.01 Elect Michael G Cherkasky MGMT YES FOR FOR
1.02 Elect Stephen R. Hardis MGMT YES WHOLD AGNST
1.03 Elect Lord Lang MGMT YES WHOLD AGNST
1.04 Elect Morton O. Schapiro MGMT YES WHOLD AGNST
1.05 Elect Adele Simmons MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Exchange underwater options MGMT YES AGNST AGNST
4 Restrict executive compensation SHLDR YES AGNST FOR
5 Award performance-based stock options SHLDR YES FOR AGNST
6 Majority vote to elect directors SHLDR YES FOR AGNST
MBIA INC MBI 55262C100 5/5/05 ANNUAL
NOT
1.01 Elect Joseph W. Brown MGMT NO VOTED
NOT
1.02 Elect C. Edward Chaplin MGMT NO VOTED
NOT
1.03 Elect David C. Clapp MGMT NO VOTED
NOT
1.04 Elect Gary C. Dunton MGMT NO VOTED
NOT
1.05 Elect Claire L. Gaudiani MGMT NO VOTED
NOT
1.06 Elect Daniel P. Kearney MGMT NO VOTED
NOT
1.07 Elect Laurence H. Meyer MGMT NO VOTED
NOT
1.08 Elect Debra J. Perry MGMT NO VOTED
NOT
1.09 Elect John A. Rolls MGMT NO VOTED
NOT
2 Approve annual bonus plan MGMT NO VOTED
NOT
3 Adopt Stock Incentive Plan MGMT NO VOTED
4 Elim. supermajority requirement for NOT
business trans MGMT NO VOTED
NOT
5 Restore written consent MGMT NO VOTED
NOT
6 Ratify selection of auditors MGMT NO VOTED
MGIC INVESTMENT CORP MTG 552848103 5/12/05 ANNUAL
NOT
1.01 Elect Mary K. Bush MGMT NO VOTED
NOT
1.02 Elect David S. Engelman MGMT NO VOTED
NOT
1.03 Elect Kenneth M. Jastrow II MGMT NO VOTED
NOT
1.04 Elect Daniel P. Kearney MGMT NO VOTED
NOT
2 Amend Stock Incentive Plan MGMT NO VOTED
NOT
3 Amend annual bonus plan MGMT NO VOTED
NOT
4 Ratify selection of auditors MGMT NO VOTED
PEPSICO INC PEP 713448108 5/4/05 ANNUAL
1.01 Elect John F. Akers MGMT YES FOR FOR
1.02 Elect Robert E. Allen MGMT YES FOR FOR
1.03 Elect Ray L. Hunt MGMT YES FOR FOR
1.04 Elect Arthur C. Martinez MGMT YES WHOLD AGNST
1.05 Elect Indra K. Nooyi MGMT YES WHOLD AGNST
1.06 Elect Steven S. Reinemund MGMT YES FOR FOR
1.07 Elect Sharon Percy Rockefeller MGMT YES FOR FOR
1.08 Elect James J. Schiro MGMT YES FOR FOR
1.09 Elect Franklin A. Thomas MGMT YES FOR FOR
1.10 Elect Cynthia M. Trudell MGMT YES FOR FOR
1.11 Elect Solomon D. Trujillo MGMT YES FOR FOR
1.12 Elect Daniel Vasella MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Review political spending or lobbying SHLDR YES AGNST FOR
PFIZER INC PFE 717081103 4/28/05 ANNUAL
1.01 Elect Michael S. Brown MGMT YES FOR FOR
1.02 Elect M. Anthony Burns MGMT YES FOR FOR
1.03 Elect Robert N. Burt MGMT YES FOR FOR
1.04 Elect W. Don Cornwell MGMT YES FOR FOR
1.05 Elect William H. Gray III MGMT YES FOR FOR
1.06 Elect Constance J. Horner MGMT YES FOR FOR
1.07 Elect William R. Howell MGMT YES FOR FOR
1.08 Elect Stanley O. Ikenberry MGMT YES FOR FOR
1.09 Elect George A. Lorch MGMT YES FOR FOR
1.10 Elect Henry A. McKinnell Jr. MGMT YES FOR FOR
1.11 Elect Dana G. Mead MGMT YES FOR FOR
1.12 Elect Ruth J. Simmons MGMT YES FOR FOR
1.13 Elect William C. Steere Jr. MGMT YES FOR FOR
1.14 Elect Jean-Paul Valles MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
3 Director tenure/retirement age SHLDR YES AGNST FOR
4 Review drug pricing or distribution SHLDR YES AGNST FOR
5 Review drug pricing or distribution SHLDR YES AGNST FOR
6 Review political spending or lobbying SHLDR YES AGNST FOR
7 Review drug pricing or distribution SHLDR YES AGNST FOR
8 Independent board chairman SHLDR YES FOR AGNST
TRIZEC PROPERTIES INC TRZ 89687P107 5/19/05 ANNUAL
1.01 Elect Peter Munk MGMT YES FOR FOR
1.02 Elect Timothy H. Callahan MGMT YES FOR FOR
1.03 Elect L. Jay Cross MGMT YES FOR FOR
1.04 Elect M. Brian Mulroney MGMT YES FOR FOR
1.05 Elect James J. O'Connor MGMT YES FOR FOR
1.06 Elect Glenn J. Rufrano MGMT YES FOR FOR
1.07 Elect Richard M. Thomson MGMT YES FOR FOR
1.08 Elect Polyvios C. Vintiadis MGMT YES FOR FOR
1.09 Elect Stephen R. Volk MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
U S BANCORP USB 902973304 4/19/05 ANNUAL
1.01 Elect Joel W. Johnson MGMT YES FOR FOR
1.02 Elect David B. O'Maley MGMT YES FOR FOR
1.03 Elect O'Dell M. Owens MGMT YES FOR FOR
1.04 Elect Craig D. Schnuck MGMT YES WHOLD AGNST
1.05 Elect Warren R. Staley MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES AGNST AGNST
3 Elim. supermajority requirement for business
trans MGMT YES FOR FOR
4 Restrict executive compensation SHLDR YES FOR AGNST
5 Limit non-audit fees SHLDR YES FOR AGNST
UNILEVER NV UN 904784709 5/10/05 ANNUAL
2 Approve financial statements MGMT YES FOR FOR
Set Dividend at 1.89
3 Ratify management acts-legal MGMT YES FOR FOR
4 Ratify board acts-legal MGMT YES FOR FOR
5 Amend board powers/procedures/qualifications MGMT YES FOR FOR
Amend articles--technical
Indemnify directors/officers
6.01 Elect Patrick Cescau MGMT YES FOR FOR
6.02 Elect C.J. van der Graaf MGMT YES FOR FOR
6.03 Elect Rudy H.P. Markham MGMT YES FOR FOR
6.04 Elect Ralph Kugler MGMT YES FOR FOR
7.01 Elect Antony Burgmans MGMT YES FOR FOR
7.02 Elect Rt. Honorable Lord Brittan of
Spennithorne MGMT YES FOR FOR
7.03 Elect Baroness Chalker of Wallasey MGMT YES FOR FOR
7.04 Elect Bertrand P. Collomb MGMT YES FOR FOR
7.05 Elect Wim Dik MGMT YES FOR FOR
7.06 Elect Oscar Fanjul MGMT YES FOR FOR
7.07 Elect Hilmar Kopper MGMT YES FOR FOR
7.08 Elect Lord Simon of Highbury MGMT YES FOR FOR
7.09 Elect Jaroen Van Der Veer MGMT YES FOR FOR
8 Approve executive profit sharing/bonus plan MGMT YES FOR FOR
Approve remuneration policy
9 Cancel authorized stock class MGMT YES FOR FOR
10 Appoint outside auditors MGMT YES FOR FOR
11 Issue stock w/ or w/o preemptive rights MGMT YES FOR FOR
12 Authorize share repurchase MGMT YES FOR FOR
UNITED PARCEL SERVICE INC UPS 911312106 5/5/05 ANNUAL
1.01 Elect John J Beystehner MGMT YES FOR FOR
1.02 Elect Michael L. Eskew MGMT YES FOR FOR
1.03 Elect James P. Kelly MGMT YES FOR FOR
1.04 Elect Ann M. Livermore MGMT YES FOR FOR
1.05 Elect Gary E. MacDougal MGMT YES FOR FOR
1.06 Elect Victor A. Pelson MGMT YES FOR FOR
1.07 Elect Lea N. Soupata MGMT YES FOR FOR
1.08 Elect John W. Thompson MGMT YES FOR FOR
1.09 Elect Carol B. Tome MGMT YES FOR FOR
1.10 Elect Ben Verwaayen MGMT YES FOR FOR
2 Ratify selection of auditors MGMT YES FOR FOR
WASHINGTON MUTUAL INC WM 939322103 4/19/05 ANNUAL
1.01 Elect Phillip D. Matthews MGMT YES FOR FOR
1.02 Elect Mary E. Pugh MGMT YES WHOLD AGNST
1.03 Elect William G. Reed Jr. MGMT YES FOR FOR
1.04 Elect James H. Stever MGMT YES WHOLD AGNST
2 Ratify selection of auditors MGMT YES FOR FOR
</Table>
Any ballot marked 'Abstain' is considered to have been voted. Ballots marked
'Abstain' are considered to be have been voted against management's
recommendation, regardless of whether the recommendation is 'For' or
'Against,' except where management has made no recommendation or has
recommended that shareholders 'Abstain.'
Where management has recommended that shareholders 'Abstain' from voting on a
ballot item: 1) a ballot market 'Abstain' is considered to have been voted
for management's recommendation to 'Abstain' and 2) a ballot voted 'For' or
'Against' is considered to have been voted against management's
recommendation to 'Abstain.'
Where management has made no recommendation on a ballot item, the
abbreviation "N/A" is used to denote that there is no applicable
recommendation compared to which a vote may be 'For' or 'Against' the
recommendation of management.
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.
(Registrant) The Yacktman Funds, Inc.
----------------------------------------------------------------
By (Signature and Title)* /s/ Donald A. Yacktman
---------------------------------------------------
Donald A. Yacktman
Title: President
Date 08-31-2005
------------------------------------------------------------------------
* Print the name and title of each signing officer under his or her signature.