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: July 26, 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 - -------------------------------------------------------------------------------- ALBANY INTERNATIONAL GROUP Ticker: AIN Security ID: 012348108 Meeting Date: May 9, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2	Selection of Auditor 		 For	 For	 Management - -------------------------------------------------------------------------------- A.O. SMITH CORPORATION Ticker: AOS Security ID: 831865209 Meeting Date: April 14, 2008 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 - -------------------------------------------------------------------------------- APPLEBEE'S INTERNATIONAL Ticker: APPB Security ID: 037899101 Meeting Date: Oct 30, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approve plan for merger For For Management 2 Approve proposal to adourn For For Management - -------------------------------------------------------------------------------- APTARGROUP, INC. Ticker: ATR Security ID: 038336103 Meeting Date: April 30, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approval of bonus plan		 For	 For Management 3 Approval of stock option plan For	 For Management 4 Approval of director stock op. plan For	 For Management 5 Approval to increase common stock For	 For Management 6 Appointment of auditor For	 For Management - -------------------------------------------------------------------------------- BJ'S WHOLESALE Ticker: BJ Security ID: 05548J106 Meeting Date: May 22, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approval of mngmt incentive plan For For Management 3 Approval of growth incentive plan For	 For Management 4 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- BORGWARNER INC. Ticker: BWA Security ID: 099724106 Meeting Date: April 30, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve the issue of common stock For For Management 3 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- Boston Private Financial Holdings, I Ticker: BPFH Security ID: 101119105 Meeting Date: April 23, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Vote for election of directors ann. Agnst For Shareholder - -------------------------------------------------------------------------------- BRISTOW GROUP INC Ticker: BRS Security ID: 110394103 Meeting Date: August 02, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Increase common stock Agnst Agnst Management 3 Eliminate Series B shares For For Management 4 Approve Long Term Incentive Plan For For Management 5 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- BROCADE COMM Ticker: BRCD Security ID: 111621306 Meeting Date: April 10, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 1999 Director Option Plan For For Management 3 Ratify Appointment of Independent For For Management Auditors - -------------------------------------------------------------------------------- CARTERS, INC. Ticker: CRI Security ID: 146229109 Meeting Date: May 09, 2008 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 09, 2008 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 cash incentive plan For For Management - -------------------------------------------------------------------------------- CHIQUITA BRANDS INTERNATIONAL, INC. Ticker: CQB Security ID: 170032809 Meeting Date: May 22, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve stock and incentive plan For For Management - -------------------------------------------------------------------------------- CHURCH & DWIGHT Ticker: CHD Security ID: 171340102 Meeting Date: May 1, 2008 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 to amend common stock For For Management 4 Approval of equity comp. plan For For Management - -------------------------------------------------------------------------------- Cimarex Energy Co Ticker: XEC Security ID: 171798 Meeting Date: May 21, 2008 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 - -------------------------------------------------------------------------------- CLARCOR INC. Ticker: CLC Security ID: 179895107 Meeting Date: March 31, 2008 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 - -------------------------------------------------------------------------------- CLECO CORPORATION Ticker: CNL Security ID: 12561W105 Meeting Date: April 25, 2008 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 - -------------------------------------------------------------------------------- DIODES INCORPORATED Ticker: DIOD Security ID: 254543101 Meeting Date: May 29, 2008 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 27, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Transact other business For For Management 3 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- FAIRPOINT COMMUNICATIONS Ticker: FRP Security ID: 305560104 Meeting Date: June 18, 2008 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 Long Term Incentive Plan For For Management 4 Annual Incentive Plan For For Management - -------------------------------------------------------------------------------- FIRST MIDWEST BANCORP, INC. Ticker: FMBI Security ID: 320867104 Meeting Date: May 21, 2008 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 directors stock plan For For Management - -------------------------------------------------------------------------------- FIRST NIAGARA FINANCIAL Ticker: FNFG Security ID: 33582V108 Meeting Date: April 29, 2008 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 - -------------------------------------------------------------------------------- HANMI FINANCIAL CORPORATION Ticker: HAFC Security ID: 410495105 Meeting Date: May 28, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Annual election of Directors For Agnst Shareholder - -------------------------------------------------------------------------------- HIGHLAND HOSPITALITY CORP Ticker: HIH Security ID: 430141101 Meeting Date: July 12, 2007 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approval of the Merger For For Management - -------------------------------------------------------------------------------- IPC Holdings, LTD. Ticker: IPCR Security ID: G4933P101 Meeting Date: Jun 20, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Auth. Board to fill board vacancies For For Management 3 Ratify appointment of independent For For Management Auditors 4 Remuneration of Board of Direct For For Management - -------------------------------------------------------------------------------- LONG DRUG STORES Ticker: LDG Security ID: 64104X108 Meeting Date: May 28, 2008 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 - -------------------------------------------------------------------------------- NESS TECHNOLOGIES INC Ticker: NSTC Security ID: 64104X108 Meeting Date: June 16, 2008 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 Option Plan For For Management - -------------------------------------------------------------------------------- NORDSON CORPORATION Ticker: NDSN Security ID: 655663102 Meeting Date: February 19, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 2004 Long Term Performance Plan For For Management 3 2004 Management Incentive Plan For For Management - -------------------------------------------------------------------------------- OIL STATES INTERNATIONAL, INC. Ticker: OIS Security ID: 678026105 Meeting Date: May 15, 2008 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 equity partic. plan For For Management - -------------------------------------------------------------------------------- ON SEMICONDUCTOR CORPORATION Ticker: ONNN Security ID: 682189105 Meeting Date: May 14, 2008 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 - -------------------------------------------------------------------------------- OPTIONS EXPRESS HOLDINGS Ticker: OXPS Security ID: 684010101 Meeting Date: May 22, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approval of 2008 Equity Plan For For Management 3 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- OWENS & MINOR, INC. Ticker: OMI Security ID: 690732102 Meeting Date: April 25, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approval to declassify board For For Management 3 Approval to eliminate pref. stock For For Management 4 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- PERFORMANCE FOOD GROUP COMPANY Ticker: PFGC Security ID: 713755106 Meeting Date: May 14, 2008 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Approval of plan of merger For For Management 2 Approval to postpone special meeting For For Management - -------------------------------------------------------------------------------- PIEDMONT NATURAL GAS COMPANY Ticker: PNY Security ID: 720186105 Meeting Date: March 06, 2008 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 - -------------------------------------------------------------------------------- PIKE ELECTRIC CORPORATION Ticker: PEC Security ID: 721283109 Meeting Date: December 05, 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 accountants 3 Ratify 2008 Incentive Plan For For Management - -------------------------------------------------------------------------------- PIONEER DRILLING COMPANY Ticker: PDC Security ID: 723655106 Meeting Date: August 03, 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 accountants 3 Ratify 2007 Incentive Plan For For Management - -------------------------------------------------------------------------------- POLYMEDICA CORPORATION Ticker: PLMD Security ID: 731738100 Meeting Date: September 18, 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 accountants 3 Ratify Senior Exec. Bonus Plan For For Management - -------------------------------------------------------------------------------- PROTECTIVE LIFE CORPORATION Ticker: PL Security ID: 743674103 Meeting Date: May 5, 2008 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: April 16, 2008 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 - -------------------------------------------------------------------------------- QUESTAR CORPORATION Ticker: STR Security ID: 748356102 Meeting Date: May 20, 2008 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 Declassification of Board For For Shareholder - -------------------------------------------------------------------------------- RC2 CORPORATION Ticker: RCRC Security ID: 749388106 Meeting Date: May 8, 2008 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 corporate bonus plan For For Management - -------------------------------------------------------------------------------- ROSETTA RESOURCE INC Ticker: ROSE Security ID: 777779307 Meeting Date: May 09, 2008 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 2005 Long Term Incentive Plan For For Management - -------------------------------------------------------------------------------- RPM INTERNATIONAL INC. Ticker: RPM Security ID: 749685103 Meeting Date: October 4, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve comp plan For For Management 3 Ratify appointment of independent For For Management auditors - -------------------------------------------------------------------------------- SCIELE PHARMA, INC Ticker: SCRX Security ID: 808627103 Meeting Date: April 25, 2008 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 - -------------------------------------------------------------------------------- SENIOR HOUSING PROPERTIES TRUST Ticker: SNH Security ID: 81721M109 Meeting Date: May 15, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- SMITH MICRO SOFTWARE Ticker: SMSI Security ID: 832154108 Meeting Date: April 28, 2008 Meeting Type: Special # Proposal For/Agnt Mgt Vote Cast Sponsor 1 2005 Stock Option Plan For For Management 2 Discretion of proxy holders For For Management - -------------------------------------------------------------------------------- STERLING BANKSHARES Ticker: SBIB Security ID: 858907108 Meeting Date: April 28, 2008 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 - -------------------------------------------------------------------------------- STRATEGIC HOTELS & RESORTS INC. Ticker: BEE Security ID: 86272T106 Meeting Date: May 22, 2008 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 - -------------------------------------------------------------------------------- TECHNITROL, INC. Ticker: TNL Security ID: 878555101 Meeting Date: May 15, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approval of Board incentive plan For For Management 3 Approval of Stock Plan II For For Management - -------------------------------------------------------------------------------- TELEFLEX INCORPORATED Ticker: TFX Security ID: 879369106 Meeting Date: May 01, 2008 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 - -------------------------------------------------------------------------------- TRUSTMARK CORP Ticker: TRMK Security ID: 898402102 Meeting Date: May 13, 2008 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 - -------------------------------------------------------------------------------- Tupperware Brand Corporation Ticker: TUP Security ID: 899896 Meeting Date: May 14, 2008 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 - -------------------------------------------------------------------------------- WABTEC CORP Ticker: WAB Security ID: 929740108 Meeting Date: May 14, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- WALTER INDUSTRIES Ticker: WLT Security ID: 93317Q105 Meeting Date: April 23, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management - -------------------------------------------------------------------------------- WESTAR ENERGY INC Ticker: WR Security ID: 95709T100 Meeting Date: May 15, 2008 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 - -------------------------------------------------------------------------------- WEST PHARMACEUTICAL SERVICES, INC. Ticker: WST Security ID: 955306105 Meeting Date: May 6, 2008 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 - -------------------------------------------------------------------------------- ZENITH NATIONAL INSURANCE Ticker: ZNT Security ID: 989390109 Meeting Date: May 13, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 2004 Restricted Stock Plan For For Management 3 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- Cimarex Energy Co Ticker: XEC Security ID: 171798 Meeting Date: May 21, 2008 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 - -------------------------------------------------------------------------------- Viking Large-Cap Value Fund - -------------------------------------------------------------------------------- ALCOA Ticker: AA Security ID: 013817101 Meeting Date: May 8, 2008 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 Impact on climate report For	 Agnst Shareholder - -------------------------------------------------------------------------------- AMERICAN ELECTRIC POWER, INC. Ticker: AEP Security ID: 025537101 Meeting Date: April 22, 2008 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 International Group, Inc. Ticker: AIG Security ID: 026874107 Meeting Date: May 14, 2008 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 Human right to water For Angst Shareholder 4 Reporting of political contributionsFor Against Shareholder - -------------------------------------------------------------------------------- AMERISOURCEBERGEN CORPORATION Ticker: ABC Security ID: 03073E105 Meeting Date: February 28, 2008 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 20, 2008 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 omnibus incentive plan For For Management 4 Approval of director comp plan For For Management 5 Stockholder prop to declassify brd Angst For 	 Shareholder 6 Amendment to non-discrim policy Angst Abstain 	 Shareholder - -------------------------------------------------------------------------------- APACHE CORPORATION Ticker: APA Security ID: 037411105 Meeting Date: May 8, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Reimbursement of proxy expenses For Against Shareholder - -------------------------------------------------------------------------------- AT&T INC. Ticker: T Security ID: 00206R102 Meeting Date: April 25, 2008 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 Political Contributions For Agnst Shareholder 4 Pension Credit Policy For Against Shareholder 5 Lead Independent Director of Law For Against Shareholder 6 Serp Policy For Against Shareholder 7 Advisory Vote on Compensation For Against Shareholder - -------------------------------------------------------------------------------- BANK OF AMERICA CORPORATION Ticker: BAC Security ID: 060505104 Meeting Date: April 23, 2008 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 Advisory Vote on Exec Comp For Against Shareholder 5 CEO Compensastion For Against Shareholder 6 Cumulative Voting For Against Shareholder 7 Independent Board Chairman For Against Shareholder 8 Special Shareholder Meetings For Against Shareholder 9 Equator Principles For Against Shareholder 10 Human Rights For Against Shareholder - -------------------------------------------------------------------------------- BP PLC Ticker: BP Security ID: 055622104 Meeting Date: April 17, 2008 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 4 Ratify appointment of independent For For Management Auditors 5 Adopt New Articles of Assoc. For For Management 6 Limited Warranty on Shares For For Management 7 Allot shares For For Management 8 Allot shares for cash For For Management - -------------------------------------------------------------------------------- Bunge Limited Ticker: BG Security ID: G16962105 Meeting Date: May 23, 2008 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 Common Stock Agnst Agnst Management 4 Increase Authorized Shares Agnst Agnst Management 5 Allow Repurchase of Shares For For Management - -------------------------------------------------------------------------------- CANADIAN PACIFIC RAILWAY LIMITED Ticker: CP Security ID: 13645T100 Meeting Date: May 09, 2008 Meeting Type: Special and Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Appoint auditors For For Management 3 Approve Shareholder Rights Plan For For Management 4 Approve Management Stock Option For For Management - -------------------------------------------------------------------------------- CITIGROUP INC. Ticker: C Security ID: 172967101 Meeting Date: April 22, 2008 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 Ratify Executive Compensation For Against Shareholder 6 Two Candidates for Board Positions For Against Shareholder 7 Report on Equator Principles For Against Shareholder 8 Principles for Executive Officers For Against Shareholder 9 Amend Emissions Policy For Against Shareholder 10 Independent Board Chairman For Against Shareholder 11 Ratify Executive Compensation For Against Shareholder - -------------------------------------------------------------------------------- CONOCOPHILLIPS Ticker: COP Security ID: 20825C104 Meeting Date: May 14, 2008 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 by-laws For For Management 4 Indigenous Rights Agnst Abstain Shareholder 5 Qualifications for Nominees For Against Shareholder 6 Report on Executive Compensation Against For Shareholder 7 Political Contributions For Against Shareholder 8 Greenhouse Gas Reduction Against Abstain Shareholder 9 Community Accountability Against Abstain Shareholder 10 Drilling in Sensitive Areas Against Abstain Shareholder 11 Environmental Impact		 Against Abstain Shareholder 12 Global Warming 	 		 Against Abstain Shareholder - -------------------------------------------------------------------------------- CVS/CAREMARK CORPORATION Ticker: CVS Security ID: 126650100 Meeting Date: Mar 07, 2008 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 Special Shareholder Meetings For Agnst Shareholder 4 Tax Gross-Up Payments For Agnst Shareholder 5 Political Expenditures For Agnst Shareholder - -------------------------------------------------------------------------------- DEAN FOODS COMPANY Ticker: DF Security ID: 242370104 Meeting Date: May 22, 2008 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 - -------------------------------------------------------------------------------- DOMINION RESOURCES, INC. Ticker: D Security ID: 25746U109 Meeting Date: May 9, 2008 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 - -------------------------------------------------------------------------------- EDISON INTERNATIONAL Ticker: EIX Security ID: 281020107 Meeting Date: April 24, 2008 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 say on executive pay For Agnst Shareholder - -------------------------------------------------------------------------------- ENTERGY CORP Ticker: ETR Security ID: 29364G103 Meeting Date: May 02, 2008 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 Advisory Vote on Exec. Compensation Agnst For Shareholder 4 Management Compensation Agnst For Shareholder 5 Corporate Political Contributions Agnst For Shareholder 6 Special Shareholder Meetings Agnst For Management - -------------------------------------------------------------------------------- FREEPORT-MCMORAN COPPER & GOLD INC. Ticker: FCX Security ID: 35671D857 Meeting Date: June 05, 2008 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 to issue common stock For For Management - -------------------------------------------------------------------------------- THE HARTFORD FINANCIAL SVCS GROUP Ticker: HIG Security ID: 416515104 Meeting Date: May 21, 2008 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 - -------------------------------------------------------------------------------- HONEYWELL INTERNATIONAL INC. Ticker: HON Security ID: 438516106 Meeting Date: April 28, 2008 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 Right to call special Meeting For For Management 4 Pay for Performance Principal For Agnst	 Shareholder - -------------------------------------------------------------------------------- Johnson Controls Inc. Ticker: JCI Security ID: 478366107 Meeting Date: January 23, 2008 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 - -------------------------------------------------------------------------------- JP MORGAN CHASE Ticker: JPM Security ID: 46625H100 Meeting Date: May 20, 2008 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 2005 Long-Term Incentive Plan For For Management 4 Executive Performance Plan For For Management 5 Governmental Service Report For Angst Shareholder 6 Political Contributions Report For Angst Shareholder 7 Independent Chairman of Board For Angst Shareholder 8 Executive Compensation Approval For Angst Shareholder 9 Two Candidates per Directorship For Angst Shareholder 10 Human Rights and Investment Report For Angst Shareholder 11 Lobbying Priorities Report For Angst Shareholder - -------------------------------------------------------------------------------- KIMBERLY-CLARK CORPORATION Ticker: KMB Security ID: 494368103 Meeting Date: April 17, 2008 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 Super-Majority Voting For For Management 4 Qualifications for Directors For Agnst Shareholder 5 Human Rights Standards For Agnst Shareholder 6 Special Shareholder Meetings For Agnst Shareholder 7 Cumulative Voting For Agnst Shareholder 8 Board Committee on Sustainability For Agnst Shareholder - -------------------------------------------------------------------------------- LEGG MASON, INC Ticker: LM Security ID: 524901105 Meeting Date: July 19, 2007 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 1996 Equity Incentive Plan For For Management 3 Non-Employee Director Equity Plan For For Management 4 Ratify appointment of independent For For Management auditors 5 Independent director as board chair For Agnst Shareholder - -------------------------------------------------------------------------------- MERCK & CO. Ticker: MRK Security ID: 589331107 Meeting Date: April 22, 2008 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 Management Compensation For Agnst Shareholder 4 Executive Compensation For Agnst Shareholder 5 Special Shareholder Meetings For Agnst Shareholder 6 Independent Lead Director For Agnst Shareholder - -------------------------------------------------------------------------------- MICROSOFT CORPORATION Ticker: MSFT Security ID: 594918104 Meeting Date: Nov 13, 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 Internet Censorship For Agnst Shareholder 4 Board Committee on Human Rights For Agnst Shareholder - -------------------------------------------------------------------------------- MORGAN STANLEY Ticker: MS Security ID: 617446448 Meeting Date: April 08, 2008 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 Executive Compensation For Against Shareholder 5 Human Rights 		 For Against Shareholder - -------------------------------------------------------------------------------- PNC FINANCIAL SERVICES Ticker: PNC Security ID: 693475105 Meeting Date: April 22, 2008 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 - -------------------------------------------------------------------------------- PFIZER INC. Ticker: PFE Security ID: 717081103 Meeting Date: April 24, 2008 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 Options For Against Shareholder 4 Chairman and CEO roles For Against Shareholder - -------------------------------------------------------------------------------- Public Service Enterprise Group Inc Ticker: PEG Security ID: 744573106 Meeting Date: April 15, 2008 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 4 Nomination of Directors For Against Shareholder 5 Election of Directors For Against Shareholder - -------------------------------------------------------------------------------- QUESTAR CORPORATION Ticker: STR Security ID: 748356102 Meeting Date: May 20, 2008 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 Declassification of Board For For Shareholder - -------------------------------------------------------------------------------- RIO TINTO PLC Ticker: RTP Security ID: 767204100 Meeting Date: April 17, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Reports for year end Dec 07 For For Management 2 Approval of remuneration report For For Management 3 Election of Directors For For Management 4 Ratify appointment of independent For For Management Auditors 5 Email for shareholder communication For For Management 6 Section 80 of the comp act of 1985 For For Management 7 Section 89 of the comp act of 1985 For For Management 8 Authority to buy Rio Tino Shares For For Management 9 Directors conflict of interest For For Management 10 Amendment to dividend shares For For Management - -------------------------------------------------------------------------------- SEALED AIR CORPORATION Ticker: SEE Security ID: 81211K100 Meeting Date: May 20, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Approval of Stock Plan For For Management 3 Approval of per. based comp For For Management 4 Ratify appointment of independent For For Management Auditors - -------------------------------------------------------------------------------- SUNTRUST BANKS, INC. Ticker: STI Security ID: 867914103 Meeting Date: Apr 29, 2008 Meeting Type: Annual # Proposal For/Agnt Mgt Vote Cast Sponsor 1 Election of Directors For For Management 2 Amendment to the 2004 stock plan For For Management 3 Ratify appointment of independent For For Management Auditors - ------------------------------------------------------------------------- TARGET Ticker: TGT Security ID: 87612E106 Meeting Date: May 22, 2008 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 - -------------------------------------------------------------------------------- TIMER WARNER CABLE Ticker: TWC Security ID: 88732J108 Meeting Date: May 29, 2008 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 - -------------------------------------------------------------------------------- U.S. BANCORP Ticker: USB Security ID: 902973304 Meeting Date: April 15, 2008 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 Officer Compensation For Against Shareholder 4 Separate Roles of Chair and CEO For Against Shareholder - -------------------------------------------------------------------------------- VERIZON COMMUNICATIONS Ticker: VZ Security ID: 92343V104 Meeting Date: May 01, 2008 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 Agnst Shareholder 4 Gender Identity Non-Discrim Policy For Agnst Shareholder 5 Separate offices for CEO and Chair For Agnst Shareholder - -------------------------------------------------------------------------------- Wachovia Corp. Ticker: WB Security ID: 929903102 Meeting Date: Apr 22, 2008 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 Vote ratifying executive comp. For Against Shareholder 4 Report political contributions For Against Shareholder 5 Proposal for nomination of directorsFor Against Shareholder - -------------------------------------------------------------------------------- THE WALT DISNEY COMPANY Ticker: DIS Security ID: 254687106 Meeting Date: March 06, 2008 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 - -------------------------------------------------------------------------------- Exxon Mobil Corporation Ticker: XOM Security ID: 30231G102 Meeting Date: May 28, 2008 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 Shareholders proposals prohibited For Agnst Shareholder 4 Director nominee qualifications For Agnst Shareholder 5 Board Chairman and CEO Angst For Shareholder 6 Shareholder return policy For Agnst Shareholder 7 Shareholder advisory vote on executive Agnst For Shareholder 8 Executive compensation report For Agnst Shareholder 9 Incentive pay recoupment For Agnst Shareholder 10 Corporate sponsorships report For Agnst Shareholder 11 Political contributions report For Agnst Shareholder 12 Amendment of EEO policy Agnst Abstain Shareholder 13 Community environmental impact Agnst Abstain Shareholder 14 ANWR drilling report Agnst Abstain Shareholder 15 Greenhouse gas emissions Agnst Abstain Shareholder 16 Co2 information at the pump Agnst Abstain Shareholder 17 Climate change and technology report Agnst Abstain Shareholder 18 Energy technology report Agnst Abstain Shareholder 19 Renewable energy policy Agnst Abstain 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, 2007 through June 30, 2008. - -------------------------------------------------------------------------------- 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, 2007 through June 30, 2008. - -------------------------------------------------------------------------------- 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 26, 2008 ---------------------------------------------------------------------------