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 811-09277 Viking Mutual Funds - -------------------------------------------------------------------------------- Exact name of registrant as specified in charter) 116 1st Street SW Suite C Minot, ND 58701 - ------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Shannon D Radke 116 1st Street SW Suite C, Minot, ND 58701 - -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 701-852-1264 Date of fiscal year end: December 31 Date of reporting period: Twelve month period ended June 30 Viking Small-Cap Value Fund - -------------------------------------------------------------------------------- AEROFLEX INCORPORATED Ticker: ARXX Security ID: 007768104 Meeting Date: May 30, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Adopt merger plan Agnt Agnt Management 2 Adjourn to solicit proxies Agnt Agnt Management - -------------------------------------------------------------------------------- ALBANY INTERNATIONAL GROUP Ticker: AIN Security ID: 012348108 Meeting Date: April 13, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- A.O. SMITH CORPORATION Ticker: AOS Security ID: 831865209 Meeting Date: April 9, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify Appointment of independent For For Management auditors 3 Adopt incentive plan For For Management - -------------------------------------------------------------------------------- APPLEBEE'S INTERNATIONAL Ticker: APPB Security ID: 037899101 Meeting Date: May 25, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend stock purchase plan For For Management 3 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- APTARGROUP, INC. Ticker: ATR Security ID: 038336103 Meeting Date: May 2, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- ARKANSAS BEST CORPORATION Ticker: ABFS Security ID: 040790107 Meeting Date: April 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 Declass of BOD Agnt For Shareholder - -------------------------------------------------------------------------------- BJ'S WHOLESALE Ticker: BJ Security ID: 05548J106 Meeting Date: May 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approval of Stock incentive plan For For Management 3 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- BORGWARNER INC. Ticker: BWA Security ID: 099724106 Meeting Date: April 25, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Stockholder Prop concerning Agnt For Shareholder Director elections 3 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- Boston Private Financial Holdings, I Ticker: BPFH Security ID: 101119105 Meeting Date: April 25, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- CARTERS, INC. Ticker: CRI Security ID: 146229109 Meeting Date: May 11, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- CBRL GROUP, INC. Ticker: CBRL Security ID: 12489V106 Meeting Date: November 28, 2006 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify Appointment of Independent For For Management Auditors - -------------------------------------------------------------------------------- Chattem, INC. Ticker: CHTT Security ID: 162456 Meeting Date: April 11, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 Adopt incentive stock option plan For For Management 4 Ratify incentive stock option plan For For Management - -------------------------------------------------------------------------------- CHIQUITA BRANDS INTERNATIONAL, INC. Ticker: CQB Security ID: 170032809 Meeting Date: May 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- CHURCH & DWIGHT Ticker: CHD Security ID: 171340102 Meeting Date: May 3, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Approval/Incentive Plan For For Management - -------------------------------------------------------------------------------- CLAIRE'S STORES, INC. Ticker: CLE Security ID: 179584107 Meeting Date: May 24, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approval of merger For For Management 2 Adjourn meeting to solicit proxies For For Management - -------------------------------------------------------------------------------- CLARCOR INC. Ticker: CLC Security ID: 179895107 Meeting Date: March 26, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopttion of Incentive plan For For Management - -------------------------------------------------------------------------------- DIODES INCORPORATED Ticker: DIOD Security ID: 254543101 Meeting Date: May 31, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify Appointment of independent For For Management auditors - -------------------------------------------------------------------------------- EPICOR SOFTWARE CORPORATION Ticker: EPIC Security ID: 29426L108 Meeting Date: May 22, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- FIRST MIDWEST BANCORP, INC. Ticker: FMBI Security ID: 320867104 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- HANMI FINANCIAL CORPORATION Ticker: HAFC Security ID: 410495105 Meeting Date: May 23, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt 2007 equity compensation plan For For Management 3 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- IPC Holdings, LTD. Ticker: IPCR Security ID: G4933P101 Meeting Date: Jun 22, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Auth. Board to fill board vacancies Agnt Agnt Management 3 Ratify appointment of independent For For Management Auditors 4 Approve 2007 incentive plan For For Management 5 Amend by-laws to remove out-of-date For For Management provisions 6 Amend by-laws to modernize by-laws For For Management - -------------------------------------------------------------------------------- K&F INDUSTRIES HOLDINGS, INC. Ticker: KFI Security ID: 482241106 Meeting Date: May 3, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approve Merger For For Management 2 Adjourn Meeting For For Management - -------------------------------------------------------------------------------- Lone Star Technologies, Inc. Ticker: LSS Security ID: 542312103 Meeting Date: Apr 23, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- Lone Star Technologies, Inc. Ticker: LSS Security ID: 542312103 Meeting Date: Jun 14, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Adopt merger plan For For Management 2 Adjourn to solicit proxies For For Management Auditors - -------------------------------------------------------------------------------- Maverick Tube Corp Ticker: MVK Security ID: 577914 Meeting Date: October 2, 2006 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approve Merger June 12 For For Management 2 Adjourn Meeting For For Management - -------------------------------------------------------------------------------- MUELLER WATER PRODUCTS INC. Ticker: MWA Security ID: 624758108 Meeting Date: March 22, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- OIL STATES INTERNATIONAL, INC. Ticker: OIS Security ID: 678026105 Meeting Date: May 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- ON SEMICONDUCTOR CORPORATION Ticker: ONNN Security ID: 682189105 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- OWENS & MINOR, INC. Ticker: OMI Security ID: 690732102 Meeting Date: April 27, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Stock Purchase Plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Proxies authorized to vote Agnt Agnt Management upon matters that arise at meeting - -------------------------------------------------------------------------------- OMI Corporation Ticker: OMM Security ID: Y6476W104 Meeting Date: Jun 28, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- PERFORMANCE FOOD GROUP COMPANY Ticker: PFGC Security ID: 713755106 Meeting Date: May 15, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- POLYMEDICA CORPORATION Ticker: PLMD Security ID: 731738100 Meeting Date: September 19, 2006 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management accountants - -------------------------------------------------------------------------------- PROTECTIVE LIFE CORPORATION Ticker: PL Security ID: 743674103 Meeting Date: May 7, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Approval of incentive plan For For Management - -------------------------------------------------------------------------------- PROVIDENT BANKSHARES CORPORATION Ticker: PBKS Security ID: 743859100 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Approval of incentive plan For For Management - -------------------------------------------------------------------------------- QUESTAR CORPORATION Ticker: STR Security ID: 748356102 Meeting Date: May 15, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- RC2 CORPORATION Ticker: RCRC Security ID: 749388106 Meeting Date: May 4, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- RPM INTERNATIONAL INC. Ticker: RPM Security ID: 749685103 Meeting Date: October 5, 2006 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve stock plan For For Management 3 Approve comp plan For For Management - -------------------------------------------------------------------------------- SENIOR HOUSING PROPERTIES TRUST Ticker: SNH Security ID: 81721M109 Meeting Date: May 30, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Change required shareholder vote For For Management 3 Amend Declaration of Trust For For Management 4 Adjourn to solicit proxies For For Management - -------------------------------------------------------------------------------- STAGE STORES, INC. Ticker: SSI Security ID: 85254C305 Meeting Date: June 7, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Increase auth. common stock For For Management 4 Specify auth. Preferred stock For For Management 5 Eliminate bankruptcy language For For Management - -------------------------------------------------------------------------------- STRATEGIC HOTELS & RESORTS INC. Ticker: BEE Security ID: 86272T106 Meeting Date: May 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- SUNSTONE HOTEL INVESTORS, INC. Ticker: SHO Security ID: 867892101 Meeting Date: May 1, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Amend 2004 Incentive Plan For For Management - -------------------------------------------------------------------------------- TECHNITROL, INC. Ticker: TNL Security ID: 878555101 Meeting Date: May 07, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- TELEFLEX INCORPORATED Ticker: TFX Security ID: 879369106 Meeting Date: May 04, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve common stock increase For For Management 3 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- Tupperware Brand Corporation Ticker: TUP Security ID: 899896 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 Amend company certif. For For Management 4 Reduce to simple majority vote For For Management 5 Amend company certif. For For Management - -------------------------------------------------------------------------------- TWEEN BRANDS, INC. Ticker: TWB Security ID: 901166108 Meeting Date: May 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- UCBH HOLDINGS, INC. Ticker: UCBH Security ID: 90262T308 Meeting Date: May 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve 2006 Restated Equity Plan For For Management 3 Declassification of Board of Dir. Agnt For Shareholder 4 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- UMPQUA HOLDINGS CORPORATION Ticker: UMPQ Security ID: 904214103 Meeting Date: April 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Amend 2003 Stock Incentive Plan For For Management 4 Adopt 2007 Long Term Incentive Plan For For Management - -------------------------------------------------------------------------------- WEST PHARMACEUTICAL SERVICES, INC. Ticker: WST Security ID: 955306105 Meeting Date: May 1, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Compensation plan For For Management - -------------------------------------------------------------------------------- Cimarex Energy Co Ticker: XEC Security ID: 171798 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- YRC Worldwide Inc Ticker: YRCW Security ID: 984249102 Meeting Date: May 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve Annual Incentive Bonus For For Management 3 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- Viking Large-Cap Value Fund - -------------------------------------------------------------------------------- ALCOA Ticker: AA Security ID: 013817101 Meeting Date: April 20, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- AMERICAN ELECTRIC POWER, INC. Ticker: AEP Security ID: 025537101 Meeting Date: April 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Senior officer incentive plan For For Management 3 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- American International Group, Inc. Ticker: AIG Security ID: 026874107 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 2007 Stock incentive plan For For Management 4 Performance-based stock options For Against Shareholder - -------------------------------------------------------------------------------- AMERISOURCEBERGEN CORPORATION Ticker: ABC Security ID: 03073E105 Meeting Date: February 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- ANADARKO PETROLEUM CORPORATION Ticker: APC Security ID: 032511107 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- APACHE CORPORATION Ticker: APA Security ID: 037411105 Meeting Date: May 2, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1-4 Election of Directors For For Management 5 Approve 2007 omnibus equity plan For For Management 6 Reimbursement of proxy expenses For Against Shareholder - -------------------------------------------------------------------------------- AT&T INC. Ticker: T Security ID: 00206R102 Meeting Date: April 27, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor A Election of Directors For For Management B02 Ratify appointment of independent For For Management auditors B03 Severance policy For For Management C04 Stockholder proposal A For Against Shareholder C05 Stockholder proposal B For Against Shareholder C06 Stockholder proposal C For Against Shareholder C07 Stockholder proposal D For Against Shareholder C08 Stockholder proposal E For Against Shareholder - -------------------------------------------------------------------------------- BANK OF AMERICA CORPORATION Ticker: BAC Security ID: 060505104 Meeting Date: April 25, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Stock option plan For Against Shareholder 4 Number of directors For Against Shareholder 5 Independent board chairman For Against Shareholder - -------------------------------------------------------------------------------- BP PLC Ticker: BP Security ID: 055622104 Meeting Date: April 12, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Receive directors report For For Management 2 Approve remuneration report For For Management 3 Election of Directors For For Management 19 Ratify appointment of independent For For Management Auditors 20 Political donations For For Management 21 Authorize electronic communications For For Management S22 Purchase of shares For For Management 23 Allot shares For For Management S24 Allot shares for cash For For Management - -------------------------------------------------------------------------------- Bunge Limited Ticker: BG Security ID: G16962105 Meeting Date: May 25, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 2007 directors incentive plan For For Management - -------------------------------------------------------------------------------- CANADIAN PACIFIC CORPORATION Ticker: CP Security ID: 13645T100 Meeting Date: May 11, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Appoint auditors For For Management - -------------------------------------------------------------------------------- CITIGROUP INC. Ticker: C Security ID: 172967101 Meeting Date: April 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Report on governmental service For Against Shareholder 4 Report on political contributions For Against Shareholder 5 Report on charitable contributions For Against Shareholder 6 Ratify executive compensation For Against Shareholder 7 Limit CEO compensation For Against Shareholder 8 Chairman of the Board duties For Against Shareholder 9 Five-year sales restriction For Against Shareholder 10 Cumulative voting For Against Shareholder 11 Calling special meetings For Against Shareholder - -------------------------------------------------------------------------------- CONOCOPHILLIPS Ticker: COP Security ID: 20825C104 Meeting Date: May 9, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Political contributions For Against Shareholder 4 Global warming renewables Against Abstain Shareholder 5 Qualification of director nominees For Against Shareholder 6 Drilling in sensitive areas Against Abstain Shareholder 7 Report on recognition of rights Against Abstain Shareholder 8 Community accountability Against Abstain Shareholder - -------------------------------------------------------------------------------- CVS/CAREMARK CORPORATION Ticker: CVS Security ID: 126650100 Meeting Date: Mar 15, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Increase common stock shares For For Management 2 Issue stock pursuant to merger plan For For Management 3 Adjourn to solicit proxies For For Management - -------------------------------------------------------------------------------- CVS/CAREMARK CORPORATION Ticker: CVS Security ID: 126650100 Meeting Date: May 09, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 2007 Stock purchase plan For For Management 4 2007 Incentive plan For For Management 5 Limits on CEO compensation For Against Shareholder 6 Separate CEO and Chairman roles For Against Shareholder 7 Sustainability reporting For Against Shareholder 8 Compensation consultants For Against Shareholder 9 Stock option grants policy For Against Shareholder - -------------------------------------------------------------------------------- CVS/CAREMARK CORPORATION Ticker: CVS Security ID: 126650100 Meeting Date: May 09, 2007 Meeting Type: Consent # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Equity compensation Unknown Abstain Shareholder - -------------------------------------------------------------------------------- DEAN FOODS COMPANY Ticker: DF Security ID: 242370104 Meeting Date: May 18, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 New equity incentive plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Separate CEO and chairman roles For Against Shareholder - -------------------------------------------------------------------------------- DOMINION RESOURCES, INC. Ticker: D Security ID: 25746U109 Meeting Date: April 27, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify Appointment of independent For For Management auditors 3 Environmental report For Against Shareholder 4 Transmission line report For Against Shareholder - -------------------------------------------------------------------------------- FREEPORT-MCMORAN COPPER & GOLD INC. Ticker: HIG Security ID: 35671D857 Meeting Date: Mar 14, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approval to increase auth shares For For Management 2 Approval to issue common stock For For Management 3 Adjourn to solicit proxies For For Management - -------------------------------------------------------------------------------- THE HARTFORD FINANCIAL SVCS GROUP Ticker: HIG Security ID: 416515104 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management - -------------------------------------------------------------------------------- HEALTH MANAGEMENT ASSOCIATES, INC. Ticker: HMA Security ID: 421933102 Meeting Date: May 15, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- HEWLETT-PACKARD CO. Ticker: HPQ Security ID: 428236103 Meeting Date: March 14, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Shareholder proposal relating to For Against Shareholder stockholder nominees 4 Shareholder proposal relating to For Against Shareholder separate roles of CEO/Chairman 5 Shareholder proposal relating to For Against Shareholder future poison pill 6 Shareholder proposal relating to For Against Shareholder linking pay to performance - -------------------------------------------------------------------------------- HONEYWELL INTERNATIONAL INC. Ticker: HON Security ID: 438516106 Meeting Date: April 23, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Adopt global employee stock plan For For Management 4 Recoup unearned management bonuses For Against Shareholder 5 Performance based stock options For Against Shareholder 6 Special shareholders meetings For Against Shareholder 7 Six sigma For Against Shareholder - -------------------------------------------------------------------------------- IDEARC INC. Ticker: IAR Security ID: 451663108 Meeting Date: Apr 19, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- Intel Corp Ticker: INTC Security ID: 458140100 Meeting Date: May 16, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 2006 Equity incentive plan For For Management 4 2007 Executive incentive plan For For Management 5 Limit executive compensation For Against Shareholder - -------------------------------------------------------------------------------- INGERSOLL-RAND COMPANY LIMITED Ticker: IR Security ID: G4776G101 Meeting Date: June 6, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt 207 incentive stock plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Executive compensation For Against Shareholder - -------------------------------------------------------------------------------- Johnson Controls Inc. Ticker: JCI Security ID: 478366107 Meeting Date: January 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- KIMBERLY-CLARK CORPORATION Ticker: KMB Security ID: 494368103 Meeting Date: April 26, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Eliminate classified board For For Management 4 Supermajority voting For Against Shareholder 5 Global human rights standards For Against Shareholder 6 Feasibility report For Against Shareholder - -------------------------------------------------------------------------------- MERCK & CO. Ticker: MRK Security ID: 589331107 Meeting Date: April 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Supermajority voting requirements For For Management 4 Supermajority under NJ law For For Management 5 Limit board to 18 directors For For Management 6 Replace cumulative voting feature For For Management 7 Reporting political contributions For Against Shareholder 8 Executive compensation For Against Shareholder - -------------------------------------------------------------------------------- MICROSOFT CORPORATION Ticker: MSFT Security ID: 594918104 Meeting Date: Nov 14, 2006 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 SH proposal restrict selling For Against Shareholder 4 SH proposal employment policy For Against Shareholder 5 SH proposal hiring of proxy advisor For Against Shareholder - -------------------------------------------------------------------------------- MORGAN STANLEY Ticker: MS Security ID: 617446448 Meeting Date: April 10, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 Approve 2007 incentive plan For For Management 4 SH proposal simple majority vote For Against Shareholder 5 SH proposal executive compensation For Against Shareholder - -------------------------------------------------------------------------------- NATIONAL CITY CORPORATION Ticker: NCC Security ID: 635405103 Meeting Date: April 24, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Executive compensation For Against Shareholder - -------------------------------------------------------------------------------- NOKIA Corporation. Ticker: NOK Security ID: 654902204 Meeting Date: May 3, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approve financial statments For For Management 2 Approve dividend eur 0.43/share For For Management 3 Liability of Board For For Management 4 Amend articles of association For For Management 5 Remuneration to Board For For Management 6 Composition of the Board For For Management 7 Election of Directors For For Management 8 Remuneration to the auditor For For Management 9 Ratify appointment of independent For For Management Auditors 10 Stock options to selected personnel For For Management 11 Reduction of share issue premium For For Management 12 Subscription price for shares For For Management 13 Board issuance of shares For For Management 14 Authorize Board to repurchase For For Management 15 Instruct Nokia legal counsels For For Management - -------------------------------------------------------------------------------- PFIZER INC. Ticker: PFE Security ID: 717081103 Meeting Date: April 26, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Cumulative voting For Against Shareholder 4 Report animal experimentation For Against Shareholder 5 Feasibility report on animal use For Against Shareholder 6 Qualifications of directors For Against Shareholder - -------------------------------------------------------------------------------- Public Service Enterprise Group Inc Ticker: PEG Security ID: 744573106 Meeting Date: Nov 21, 2006 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 Proposal regarding executive For Against Shareholder compensation - -------------------------------------------------------------------------------- Public Service Enterprise Group Inc Ticker: PEG Security ID: 744573106 Meeting Date: Apr 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Increase common stock For For Management 3 Approve 2007 equity compensation For For Management 4 Eliminate classification of Board For For Management 5 Eliminate cumulative voting if (4) For For Management 6 Eliminate pre-emptive rights For For Management 7 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- QUESTAR CORPORATION Ticker: STR Security ID: 748356102 Meeting Date: May 15, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- RIO TINTO PLC Ticker: RTP Security ID: 767204100 Meeting Date: April 13, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Allot securities For For Management 2 Allot securities For For Management 3 Authorize directors to repurchase For For Management shares 4 Approve article amendments For For Management 5 Election of Michael Fitzpatrick For For Management 6 Re-election of Ashton Calvert For For Management 7 Re-election of Guy Elliott For For Management 8 Re-election of Lord Kerr For For Management 9 Re-election of Sir Richard Sykes For For Management 10 Ratify appointment of independent For For Management Auditors 11 Approve remuneration report For For Management 12 Receive financial statement For For Management - -------------------------------------------------------------------------------- SEALED AIR CORPORATION Ticker: SEE Security ID: 81211K100 Meeting Date: May 18, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1-9 Election of Directors For For Management 10 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- SUNTRUST BANKS, INC. Ticker: STI Security ID: 867914103 Meeting Date: Apr 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend articles of incorporation For For Management 3 Amend bylaws for annual elections For For Management 4 Majority voting for elections For Against Shareholder 5 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- UNION PACIFIC CORPORATION Ticker: UNP Security ID: 907818108 Meeting Date: May 3, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 SH proposal majority voting For Against Shareholder 4 SH proposal political contributions For Against Shareholder - -------------------------------------------------------------------------------- U.S. BANCORP Ticker: USB Security ID: 902973304 Meeting Date: April 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Adopt incentive stock option plan For For Management 4 Amend restated certificate of For For Management incorporation 5 Executive officer compensation For Against Shareholder 6 Executive retirement plan For Against Shareholder - -------------------------------------------------------------------------------- VERIZON COMMUNICATIONS INC. Ticker: VZ Security ID: 92343V104 Meeting Date: May 3, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Eliminate stock options For Against Shareholder 4 Future severance agreements For Against Shareholder 5 Consultant disclosure For Against Shareholder 6 Executive compensation For Against Shareholder 7 Limit service on outside boards For Against Shareholder 8 Future poison pill For Against Shareholder 9 Report on charitable contributions For Against Shareholder - -------------------------------------------------------------------------------- Wachovia Corp. Ticker: WB Security ID: 929903102 Meeting Date: Aug 31, 2006 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approve issuance of shares For For Management 2 Amend 2003 stock incentive plan For For Management - -------------------------------------------------------------------------------- Wachovia Corp. Ticker: WB Security ID: 929903102 Meeting Date: Apr 17, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Eliminate provisions classifying For For Management Board of Directors 3 Voting in uncontested elections For For Management 4 Ratify appointment of independent For For Management Auditors 5 Ratifying executive compensation For Against Shareholder 6 Qualifications of director nominees For Against Shareholder 7 Reporting political contributions For Against Shareholder 8 Separating Chairman/CEO offices For Against Shareholder - -------------------------------------------------------------------------------- THE WALT DISNEY COMPANY Ticker: DIS Security ID: 254687106 Meeting Date: March 08, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Amend 2005 stock incentive plan For For Management 4 Amend 2002 exec performance plan For For Management 5 SH proposal relating to greenmail For Against Shareholder 6 Amend bylaws for stockholder rights For Against Shareholder - -------------------------------------------------------------------------------- Exxon Mobil Corporation Ticker: XOM Security ID: 30231G102 Meeting Date: May 30, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management Auditors 3 Cumulative voting For Against Shareholder 4 Special shareholder meetings For Against Shareholder 5 Board chairman and CEO For Against Shareholder 6 Dividend strategy For Against Shareholder 7 Executive compensation For Against Shareholder 8 CEO compensation decisions For Against Shareholder 9 Executive compensation report For Against Shareholder 10 Executive compensation limit For Against Shareholder 11 Incentive pay recoupment For Against Shareholder 12 Political contributions report For Against Shareholder 13 Amendment of EEO policy For Against Shareholder 14 Community environmental impact For Against Shareholder 15 Greenhouse gas emissions goals For Against Shareholder 16 CO2 information at the pump For Against Shareholder 17 Renewable energy investment levels For Against Shareholder - -------------------------------------------------------------------------------- Viking Tax-Free Fund for Montana - -------------------------------------------------------------------------------- The Viking Tax-Free Fund for Montana did not hold any portfolio securities with respect to which the Fund was entitled to vote during the period from July 1, 2005 through June 30, 2006. - -------------------------------------------------------------------------------- Viking Tax-Free Fund for North Dakota - -------------------------------------------------------------------------------- The Viking Tax-Free Fund for North Dakota did not hold any portfolio securities with respect to which the Fund was entitled to vote during the period from July 1, 2005 through June 30, 2006. - -------------------------------------------------------------------------------- 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. Viking Mutual Funds ------------------------------------------------------------------- By: /s/ Shannon D Radke, President ------------------------------------------------------ Date August 31, 2006 ---------------------------------------------------------------------------