Form N-PX Annual Report of Proxy Voting Record of Copley Fund, Inc. Investment Company Act File No.: 811-2815 Registrant Copley Fund, Inc. 245 Sunrise Ave. Palm Beach, FL 33480 Agent for Service Fiscal Year End: February 28, 2006 Date of Reporting Period: July 1, 2006 to June 30, 2007 With Proponent or Meeting (Management/ Voted? Against Name Ticker CUSIP Date ItemDescription Shareholder) (Yes/No) VoteCast Mgt Rec AT&T T 00206R102 7/21/06 Approve Issuance/Merger Management Yes For With Bellsouth Corporation BLS 079860102 7/21/06 Approve merger with AT&T Management Yes For With Keyspan Corporation KSE 49337W100 8/17/06 Elect 10 Directors Management Yes For With Adopt the agreement of KSE merger Management Yes For With Ratify of Deloitte & KSE Touche LLP Management Yes For With KSE Adopt simple majority vote Shareholder Yes Against With Duke Energy Corporation DUK 26441C105 10/24/06 Elect 14 Directors Management Yes For With Approval of Long term DUK incentive Management Yes For With Ratify of Deloitte & DUK Touche LLP Management Yes For With Delta Natural Gas Company, Inc. DGAS 247748106 11/16/06 Elec 2 Directors Management Yes For With Amend to increase common DGAS stock Management Yes For With Public Service Enterprise PEG 744573106 11/21/06 Elec 4 Management Yes For With Raitfy of Deloitte & PEG Touche LLP Management Yes For With Relating to Excutive PEG Compensation Management Yes Against With Peoples Energy Approve merger w/WPS & Corporation PGL 711030106 12/6/06 Wedge Acq., Management Yes For With PGL Adjourn the special meeting Management Yes For With FPL Group, Inc. FPL 302571104 12/15/06 Elect 10 Directors Management Yes For With Ratify of Deloitte & FPL Touche LLP Management Yes For With New Jersey Resources Corp. NJR 646025106 1/24/07 Elec 5 Directors Management Yes For With Approve the 2007 Stock NJR Award & incentive Management Yes For With Approve the Retention of NJR Delotte & Touche, LLP Management Yes For With WGL Holdings, Inc. WGL 92924F106 3/1/07 Elec 8 Directors Management Yes For With Ratify of Deloitte & WGL Touche LLP Management Yes For With Approval of the Omnibus WGL incentive compensation plan Management Yes For With WGL Cumulative Voting Shareholder Yes Against With WGL Independent Chairman Shareholder Yes Against With Executive Compensation WGL Consultants Shareholder Yes Against With National City Corporation NCC 635405103 4/24/07 Elec 11 Directors Management Yes For With Ratify of Ernst & Young, NCC LLP Management Yes For With NCC Excutive Compensation Shareholder Yes Against With Sunoco, Inc. SUN 8674P109 5/3/07 Elec 11 Directors Management Yes For With Ratify of Ernst & Young, SUN LLP Management Yes For With Nstar NST 67019E107 5/3/07 Elec 3 Directors Management Yes For With Approval of the 2007 Long NST Term incentive Management Yes For With Ratify the appt. of NST Pricewaterhousecoopers, LLP Management Yes For With BP P.L.C. BP 055622104 4/12/07 Elec 16 Directors Management Yes For With Receive Directors annual BP report Management Yes For With Approve the Directors BP Renumeration Management Yes For With Re-appoint Ernst & Young LLP & authorize the board BP to set their renuneration Management No Against Against Give limited authority to make political donations & BP incur political expenditure Management Yes For With Authorize the use of BP electronic communications Management Yes For With Special Resolution: to give limited authority for the purchase of its own BP shares Management No Against Against Authorize to allot shares BP up to a speclified amount Management Yes For With Special Resolution: to give authority to allot a limited number of shares for cash free of BP pre-emption rights Management Yes For With Sempra Energy SRE 816851109 4/26/07 Elec 3 Directors Management Yes Withhold Against Ratify public accounting SRE firm Management Yes For With SRE Adopt simple majority vote Management Yes Against With Director election majority SRE vote standard proposal Management Yes Against With Supplemental Executive SRE retirment plan policy Management Yes Against With Public Service Enterprise PEG 744573106 4/17/07 Elec 4 Directors Management Yes For With Approve amendment to increase the authoriezed common stock from 500 PEG million to 1 billion shares Management Yes For With Approve adoption of the 2007 equity compensation PEG plan Management Yes For With Approve amendment to eliminate classification PEG of the boards of directors Management Yes For With Approve an amendment to PEG eliminate cumulative voting Management Yes For With Approve eliminate PEG pre-emptive rights Management Yes For With Ratify Deloitte & Touche PEG LLP Management Yes For With Scana Corporation SCG 80589M102 4/26/07 Elec 3 Directors Management Yes For With SCG Approve accounting firm Management Yes For With Idearc Inc. IAR 451663108 4/19/07 Elec 7 Directors Management No Against Against IAR Ratify Ernst & Young, LLP Management Yes For With Bank of America BAC 060505104 4/25/07 Elec 17 Directors Management Yes For With Ratify of the independent registered public BAC accointing firm 2007 Management Yes For With BAC Stock Options Shareholder Yes Against With BAC Number of Directors Shareholder Yes Against With BAC Independent Board Chairman Shareholder Yes Against With Progress Energy, Inc. PGN 743263105 5/9/07 Elec 12 Directors Management Yes For With Raitfy of Deloitte & PGN Touche LLP Management Yes For With Approve 2007 Equity PGN Incentive Plan Management Yes For With Citzens Communications CZN 17453B101 5/18/07 Elec 12 Directors Management No Against Against Adopt 2008 Citizens CZN Incentive Plan Management Yes For With CZN Ratify of KPMG LLP Management Yes g With PPL Corporation PPL 69351T106 5/23/07 Elec 3 Directors Management Yes For With Ratify Independent PPL Accounting Firm Management Yes For With PPL Shareowner Proposal Shareholder Yes Against With Southern Company SO 842587107 5/23/07 Elec 10 Directors Management Yes For With Ratify of Deloitte & SO Touche LLP Management Yes For With SO Environmental Report Shareholder Yes Against With Northwest Natuarl Gas NWN 667655104 5/24/07 Elec 3 Directors Management Yes For With Reapproval Restated Stock NWN Option Plan Management Yes For With Ratify NWN Pricewaterhousecoopers Management Yes For With Wal-Mart WMT 931142103 6/1/07 Elec 15 Directors Management Yes For With WMT Ratify Ernst & Young, LLP Management Yes For With Charitable contributions WMT report Shareholder Yes Against With Universal Health Care Policy Shareholder Yes Against With Pay for Superior Performance Shareholder Yes Against With Equity Compensation Glass Ceiling Shareholder Yes Against With Compensation Disparity Shareholder Yes Against With Business Social Responsibility Report Shareholder Yes Against With Excutive Compensation Vote Shareholder Yes Against With Political Contribution Report Shareholder Yes Against With Social and Reputation Impact Report Shareholder Yes Against With Cumulative Voting Shareholder Yes Against With Qualifacfations for Director Nominees Shareholder Yes Against With Exxon Mobil Corporation XOM 30231G102 5/30/07 Elec 12 Directors Management Yes For With Ratify of indepentant XOM auditors Management Yes For With XOM Cumulative Voting Management Yes Against With Special Shareholder XOM meetings Management Yes Against With XOM Board Chairman and CEO Management Yes Against With XOM Dividend strategy Management Yes For Against XOM Executive Compensation Shareholder Yes Against With XOM CEO Compensation decisions Management Yes Against With Executive compensation XOM report Management Yes Against With Executive compensation XOM limit Management Yes Against With XOM Incentive pay recoupment Management Yes Against With Political Contribution XOM Report Management Yes Against With XOM Amendment of EEO policy Management Yes Against With Community envirnmental XOM impact Management Yes Against With Greenhouse gas emissions XOM goals Management Yes Against With XOM CO2 information at the pump Management Yes Against With Renewable energy XOM investment levels Management Yes Against With DTE Energy DTE 233331107 5/3/07 Elec 5 Directors Management Yes For With DTE Deloitte & Touche Management Yes For With Dominion Resources, Inc. D 25746U109 4/27/07 Elec 10 Directors Management Yes For With D Ratify Auditors for 2007 Management Yes For With D Environmental Report Shareholder Yes Against With D Transmission Report Shareholder Yes Against With FPL Group, Inc. FPL 302571104 5/25/07 Elec 12 Directors Management Yes For With Ratify Deloitte & Touche FPL LLP Management Yes For With Approval of 207 Non-Employee Directors FPL stock plan Management Yes For With Arthur J. Gallagher & Co. AJG 363576109 5/15/07 Elec 3 Directors Management Yes For With AJG Ratify Ernst & Young LLP Management Yes For With PNC Financial Services PNC 693475105 4/24/07 Elec 18 Directors Management Yes For With 1996 Executive incentive PNC award plan Management Yes For With Ratify PNC Pricewaterhousecoopers, LLP Management Yes For With Zimmer Holding ZMH 9856P102 5/7/07 Elec 2 Director Management Yes For With ZMH Auditor Ratify Management Yes For With Restated certificate Annual Election of all ZMH Directors Management Yes For With ZMH Adopt simple majority vote Shareholder Yes Against With American Electric Power AEP 025537101 4/24/07 Elec 13 Directors Management Yes Withhold Against Approve Senior Officer AEP incentive Management Yes For With AEP Ratify accounting firm Management Yes For With Ameren Corporation AEE 023608102 4/24/07 Elec 12 Directors Management Yes For With Ratify Public accounting AEE firm Management Yes For With Report on Callaway Plant AEE Releases Management Yes Against With Bristol-Myers Squibb BMY 110122108 5/1/07 Elec 9 Directors Management Yes For With Ratify public accounting BMY firm Management Yes For With 2007 Stock Award and BMY Incentive Management Yes For With Senior Executive BMY Performance Incentive Plan Management Yes For With Executive Compensation BMY Disclosure Management Yes Against With BMY Recoupment Management Yes Against With BMY Cumulative Voting Management Yes Against With Duke Energy Corporation DUK 26441C105 5/10/07 Elec 10 Directors Management Yes For With Ratify Deloitte & Touche DUK LLP Management Yes For With Energy East Corporation EAS 29266M109 6/14/07 Elec 11 Directors Management Yes For With Ratify EAS Pricewaterhousecoopers, LLP Management Yes For With Exelon Corporation EXC 30161N101 5/8/07 Elec 6 Directors Management Yes For With EXC Rafify accountant Management Yes For With Allow Election of all EXC Directors beginning 2008 Management Yes For With Require shareholder approval of future executive serverance EXC benefits Management No Against With Firstenergy Corp. FE 337932107 5/15/07 Elec 11 Directors Management No Against Against FE Ratify accounting firm Management Yes For With FE Approve 2007 incentive plan Management Yes For With FE Shareowner Proposal Shareholder Yes For With Shareowner Proposal Shareholder Yes For With Shareowner Proposal Shareholder Yes For Against Great Plains Energy Inc. GXP 391164100 5/1/07 Elec 11 Directors Management Yes For With Ratify deloitte & Touche GXP LLP Management Yes For With Approve amendments to GXP Long-Term Incentive Plan Management Yes For With Keycorp KEY 493267108 5/10/07 Elec 4 Directors Management Yes For With Code regulations to reduce KEY board size Management Yes For With Steps to cause Annual KEY Election Directors Shareholder Yes For Against Ratify Independent KEY Accounting Firm Management Yes For With Alliant Energy Corp LNT 018802108 5/10/07 Elec 5 Directors Management Yes For With Raitfy of Deloitte & LNT Touche LLP Management Yes For With JP Morgan Chase & Co. JPM 46625H100 5/15/07 Elec 11 Directors Management No Against Against JPM Appoint public accountant Management Yes For With JPM Stock Options Management Yes Against With performance-based JPM restricted stock Management Yes Against With Executive Compensation JPM Approval Management No Against With JPM Separate chairman Management Yes Against With JPM Cumulative Voting Management Yes Against With Majority voting for JPM directors Management Yes Against With Political Contribution JPM Report Management Yes Against With JPM Slavery apology report Management Yes Against With Integrys Energy Group JPM Elec 5 Directors Management Yes For With Approve 2007 Omnubus JPM incentive Management Yes For With issuance of an additional 0.7 million shares of JPM common stock Management Yes For With Ratify Deloitte & Touche JPM LLP Management Yes For With Verizon VZ 92343V104 5/3/07 Elec 15 Directors Management Yes For With Ratify Independent VZ Accounting Firm Management Yes For With VZ Eliminate stock options Management Yes Against With VZ Future Severance agreements Management Yes Against With Compensation consultant VZ disclosure Management Yes Against With Advisory vote on Executive VZ Compensation Management Yes Against With Limit service on outside VZ boards Management Yes For Against VZ Future Poison Pill Management Yes Against With Report on charitable VZ contributions Management Yes Against With Chevron Corp CVX 166764100 3/12/07 Elec 14 Directors Management Yes For With Ratify Public accounting CVX firm Management Yes For With Restated certificate of incorporation to repeal the Supermajority Vote CVX Provisions Management Yes For With Adopt policy and report on CVX human right Management Yes Against With Adopt goals and report on CVX greenhouse gas emissions Management Yes Against With Adopt policy and report on CVX animal welfare Management Yes Against With By-Laws to Separate the CVX CEO/Chairman positions Management Yes Against With Amend the By-Laws regarding the Stockholder CVX Rights Plan Policy Management Yes Against With Report on host County CVX Environment Laws Management Yes Against With AT & T T 00206R102 4/27/07 Elec 17 Directors Management Yes For With Ratify Independent T Accounting Firm Management Yes For With approve the AT & T T serverance policy Management Yes For With T Stockholders Proposal A Shareholder Yes Against With T Stockholders Proposal B Shareholder Yes Against With T Stockholders Proposal C Shareholder Yes Against With T Stockholders Proposal D Shareholder Yes Against With T Stockholders Proposal E Shareholder Yes Against With 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 Fundersigned, thereunto duly authorized. Copley Fund, Inc. By: /s/ Irving Levine President Date: August 29, 2007