As filed with the Securities and Exchange Commission on August 17, 2004
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OMB APPROVAL
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OMB Number: 3235-0582
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC. 20549
FORM N-PX
ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT
INVESTMENT COMPANY
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Investment Company Act file number 811-08043
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THE BERKSHIRE FUNDS
(Exact name of registrant as specified in charter)
475 Milan Drive, Suite #103
San Jose, CA 95134-2453
(Address of principal executive offices)
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AGENT FOR SERVICE:
MALCOLM R. FOBES III
The Berkshire Funds
475 Milan Drive, Suite #103
San Jose, CA 95134-2453
(Name and Address of Agent for Service)
COPIES TO:
DONALD S. MENDELSOHN, ESQ.
Thompson Hine LLP
312 Walnut Street
14th Floor
Cincinnati, Ohio 45202
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Registrant's telephone number, including area code: 1-408-526-0707
Date of fiscal year end: December 31, 2003
Date of reporting period: June 30, 2004
Form N-PX is to be used by a registered management investment company, other
than a small business investment company registered on Form N-5 (ss.ss. 239.24
and 274.5 of this chapter), to file reports with the Commission, not later
than August 31 of each year, containing the registrant's proxy voting record
for the most recent twelve-month period ended June 30, pursuant to section 30
of the Investment Company Act of 1940 and rule 30b1-4 thereunder (17 CFR
270.30b1-4). The Commission may use the information provided on Form N-PX in
its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-PX,
And the Commission will make this information public. A registrant is not
Required to respond to the collection of information contained in Form N-PX
unless the Form displays a currently valid Office of Management and Budget
("OMB") control number. Please direct comments concerning the accuracy of the
information collection burden estimate and any suggestions for reducing the
burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street,
NW, Washington, DC 20549-0609. The OMB has reviewed this collection of infor-
mation under the clearance requirements of 44 U.S.C. ss. 3507.
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COMPANY: ANALOG DEVICES, INC.
TICKER: ADI
CUSIP: 032654105
MEETING DATE: 3/9/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Jerald G. Fishman For For Management
1.2 Elect Director F. Grant Saviers For For Management
2 Approve Increase Number of Shares For For Management
of Common Stock Outstanding
3 Ratify Ernst & Young as Auditors For For Management
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COMPANY: APPLIED MICRO CIRCUITS CORP.
TICKER: AMCC
CUSIP: 03822W109
MEETING DATE: 8/27/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director David M. Rickey For For Management
1.2 Elect Director Roger A. Smullen For For Management
1.3 Elect Director Cesar Cesaratto For For Management
1.4 Elect Director Franklin P. Johnson, Jr. For For Management
1.5 Elect Director Kevin N. Kalkhoven For For Management
1.6 Elect Director L. Wayne Price For For Management
1.7 Elect Director Douglas C. Spreng For For Management
1.8 Elect Director Arthur B. Stabenow For For Management
1.9 Elect Director Harvey P. White For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: ATMEL CORP.
TICKER: ATML
CUSIP: 049513104
MEETING DATE: 5/12/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director George Perlegos For For Management
1.2 Elect Director Gust Perlegos For For Management
1.3 Elect Director Tsung-Ching Wu For For Management
1.4 Elect Director T. Peter Thomas For For Management
1.5 Elect Director Norm Hall For For Management
1.6 Elect Director Pierre Fougere For For Management
1.7 Elect Director Dr. Chaiho Kim For For Management
1.8 Elect Director David Sugishita For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
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COMPANY: AVANEX CORP.
TICKER: AVNX
CUSIP: 05348W109
MEETING DATE: 11/6/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Walter Alessandrini For For Management
1.2 Elect Director Joseph Miller For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: AVAYA, INC.
TICKER: AV
CUSIP: 053499109
MEETING DATE: 2/26/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Joseph P. Landy For For Management
1.2 Elect Director Mark Leslie For For Management
1.3 Elect Director Donald K. Peterson For For Management
1.4 Elect Director Anthony P. Terracciano For For Management
2 Approve Long Term Incentive Plan for
Management Employees For For Management
3 Shareholder Proposal Regarding
Chief Executive Officer Compensation Against Against Shareholder
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COMPANY: BEA SYSTEMS, INC.
TICKER: BEAS
CUSIP: 073325102
MEETING DATE: 7/11/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director William T. Coleman III For For Management
1.2 Elect Director Dale Crandall For For Management
1.3 Elect Director William H. Janeway For For Management
2 Approve 2004 Senior Executive
Bonus Plan For For Management
3 Ratify Ernst & Young as Auditors For For Management
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COMPANY: BROADCOM CORP.
TICKER: BRCM
CUSIP: 111320107
MEETING DATE: 4/29/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director George L. Farinsky For For Management
1.2 Elect Director John Major For For Management
1.3 Elect Director Alan E. Ross For For Management
1.4 Elect Director Henry Samueli, Ph.D For For Management
2 Approve an Amendment and Restatement
of Company's 1998 Stock Incentive Plan For For Management
3 Ratify Ernst & Young as Auditors For For Management
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COMPANY: CISCO SYSTEMS, INC.
TICKER: CSCO
CUSIP: 17275R102
MEETING DATE: 11/11/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Carol A. Bartz For For Management
1.2 Elect Director Larry R. Carter For For Management
1.3 Elect Director John T. Chambers For For Management
1.4 Elect Director Dr. James F. Gibbons For For Management
1.5 Elect Director Dr. John L. Hennessy For For Management
1.6 Elect Director Roderick C. McGeary For For Management
1.7 Elect Director James C. Morgan For For Management
1.8 Elect Director John P. Morgridge For For Management
1.9 Elect Director Donald T. Valentine For For Management
1.10 Elect Director Steven M. West For For Management
1.11 Elect Director Jerry Yang For For Management
2 Approve an Amendment and Restatement
of the Employee Stock Purchase Plan For For Management
3 Ratify Pricewaterhousecoopers Auditors For For Management
4 Shareholder Proposal that Board Prepare
Report Each Fiscal Yr. on Hardware and
Software Provided to Govt. Agencies Against Against Shareholder
5 Shareholder Proposal that Board's
Compensation Committee Prepare by Jan.
1, 2004 a Report Comparing Compensation
of Top Executives and Lowest Paid
Workers in the U.S. and Abroad Against Against Shareholder
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COMPANY: CORNING, INC.
TICKER: GLW
CUSIP: 219350105
MEETING DATE: 4/29/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Jeremy R. Knowles For For Management
1.2 Elect Director Eugene C. Sit For For Management
1.3 Elect Director William D. Smithburg For For Management
1.4 Elect Director Hansel E. Tookes II For For Management
1.5 Elect Director Wendell P. Weeks For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
3 Shareholder Proposal Relating to
Severance Agreements with Senior
Executives Against Against Shareholder
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COMPANY: CYPRESS SEMICONDUCTOR CORP.
TICKER: CY
CUSIP: 232806109
MEETING DATE: 4/19/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director T.J. Rodgers For For Management
1.2 Elect Director Fred B. Bialek For For Management
1.3 Elect Director Eric A. Benhamou For For Management
1.4 Elect Director John C. Lewis For For Management
1.5 Elect Director Alan F. Shugart For For Management
1.6 Elect Director James R. Long For For Management
1.7 Elect Director W. Steve Albrecht For For Management
2 Approve an Amendment and Restated
1994 Stock Plan For For Management
3 Ratify Pricewaterhousecoopers Auditors For For Management
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COMPANY: EMC CORP.
TICKER: EMC
CUSIP: 268648102
MEETING DATE: 5/5/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director John R. Egan For For Management
1.2 Elect Director Michael C. Ruettgers For For Management
1.3 Elect Director David N. Strohm For For Management
2 Approve an Amendment to EMC's 2003 Stock
Plan to Increase the Number of Shares
Available for Grant and Allow Awards
of Restricted Stock be Granted to
Non-Employee Directors For For Management
3 Approve an Amendment to EMC's 1989
Employee Stock Purchase Plan to Increase
the Number of Shares Available for Grant For For Management
4 Ratify Pricewaterhousecoopers Auditors For For Management
5 Shareholder Proposal Relating to
Executive Compensation Against Against Shareholder
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COMPANY: JDS UNIPHASE CORP.
TICKER: JDSU
CUSIP: 46612J101
MEETING DATE: 11/6/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Robert E. Enos For For Management
1.2 Elect Director Peter A. Guglielmi For For Management
2 Approve the JDS Uniphase Corp. 2003
Equity Incentive Plan For For Management
3 Ratify Ernst & Young as Auditors For For Management
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COMPANY: JUNIPER NETWORKS, INC.
TICKER: JNPR
CUSIP: 48203R104
MEETING DATE: 4/16/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1 Approve the Issuance of 1.404 Shares
of Juniper Networks Common Stock for
Each Outstanding Share of Netscreen
Common Stock and Each Outstanding
Stock Option to Purchase Netscreen
Common Stock as of the Effective
Date of the Merger in Connection with
and Pursuant to the Terms of the
Agreement and Plan of Reorganization
Dated as of Feb. 9, 2004 For For Management
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COMPANY: JUNIPER NETWORKS, INC.
TICKER: JNPR
CUSIP: 48203R104
MEETING DATE: 5/19/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Pradeep Sindhu For For Management
1.2 Elect Director Robert M. Calderoni For For Management
1.3 Elect Director Kenneth Levy For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: KLA-TENCOR CORP.
TICKER: KLAC
CUSIP: 482480100
MEETING DATE: 11/05/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director H. Raymond Bingham For For Management
1.2 Elect Director Robert T. Bond For For Management
1.3 Elect Director Richard J. Elkus, Jr. For For Management
1.4 Elect Director Michael E. Marks For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
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COMPANY: KULICKE AND SOFFA INDUSTRIES, INC.
TICKER: KLIC
CUSIP: 501242101
MEETING DATE: 2/10/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Brian R. Bachman For For Management
1.2 Elect Director Philip V. Gerdine For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
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COMPANY: LAM RESEARCH CORP.
TICKER: LRCX
CUSIP: 512807108
MEETING DATE: 11/6/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director James W. Bagley For For Management
1.2 Elect Director David G. Arscott For For Management
1.3 Elect Director Robert M. Berdahl For For Management
1.4 Elect Director Richard J. Elkus, Jr. For For Management
1.5 Elect Director Jack R. Harris For For Management
1.6 Elect Director Grant M. Inman For For Management
2 Approve Amendment of LAM 1999 Employee
Stock Purchase Plan For For Management
3 Approve LAM 2004 Executive
Incentive Plan For For Management
4 Ratify Ernst & Young as Auditors For For Management
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COMPANY: LINEAR TECHNOLOGY CORP.
TICKER: LLTC
CUSIP: 535678106
MEETING DATE: 11/5/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Robert H. Swanson, Jr. For For Management
1.2 Elect Director David S. Lee For For Management
1.3 Elect Director Leo T. McCarthy For For Management
1.4 Elect Director Richard M. Moley For For Management
1.5 Elect Director Thomas S. Volpe For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: MARVELL TECHNOLOGY GROUP LTD.
TICKER: MRVL
CUSIP: G5876H105
MEETING DATE: 5/28/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Dr. John M. Cioffi, Ph.D For For Management
1.2 Elect Director Dr. Paul R. Gray, Ph.D For For Management
1.3 Elect Director Douglas King For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
3 Authorize the Board of Directors to
Fix the Auditors' Remuneration for the
2005 Fiscal Year Ending Jan. 29, 2005 For For Management
4 Approve an Increase to the Company's
Authorized Share Capital For For Management
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COMPANY: MAXIM INTERGRATED PRODUCTS, INC.
TICKER: MXIM
CUSIP: 57772K101
MEETING DATE: 11/13/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director James R. Bergman For For Management
1.2 Elect Director John F. Gifford For For Management
1.3 Elect Director B. Kipling Hagopian For For Management
1.4 Elect Director M.D. Sampels For For Management
1.5 Elect Director A.R. Frank Wazzan For For Management
2 Approve Amendment to the Company's
1996 Stock Incentive Plan, as
Amended, Increasing the Number of
Shares Available for Issuance by
9,400,000 Shares from 95,200,000
Shares to 104,600,000 Shares For For Management
3 Approve Amendment to the Company's
1987 Employee Stock Participation
Plan, as Amended, Increasing the
Number of Shares Available for
Issuance by 400,000 Shares from
14,651,567 Shares to 15,051,567
Shares For For Management
4 Ratify Ernst & Young as Auditors For For Management
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COMPANY: MCDATA CORP.
TICKER: MCDTA
CUSIP: 580031201
MEETING DATE: 8/27/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director John F. McDonnell For For Management
1.2 Elect Director Charles C. Johnston For For Management
1.3 Elect Director Laurence G. Walker For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
3 Approve Amendments to the 2001 McData
Equity Incentive Plan For For Management
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COMPANY: PMC-SIERRA, INC.
TICKER: PMCS
CUSIP: 69344F106
MEETING DATE: 5/14/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Robert Bailey For For Management
1.2 Elect Director Alexandre Balkanski For For Management
1.3 Elect Director Richard Belluzzo For For Management
1.4 Elect Director James Diller For For Management
1.5 Elect Director Jonathan Judge For For Management
1.6 Elect Director William Kurtz For For Management
1.7 Elect Director Frank Marshall For For Management
1.8 Elect Director Lewis Wilks For For Management
2 Ratify Deloitte & Touche as Auditors For For Management
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COMPANY: QLOGIC CORP.
TICKER: QLGC
CUSIP: 747277101
MEETING DATE: 8/26/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director H.K. Desai For For Management
1.2 Elect Director Larry R. Carter For For Management
1.3 Elect Director James R. Fiebiger For For Management
1.4 Elect Director Balakrishnan S. Iyer For For Management
1.5 Elect Director Carol L. Miltner For For Management
1.6 Elect Director George D. Wells For For Management
2 Amendment to Qlogic Stock Awards Plan
to Extend the Expiration Date of the
Awards Plan to July 31, 2006 For For Management
3 Ratify KPMG as Auditors For For Management
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COMPANY: TEXAS INSTRUMENTS, INC.
TICKER: TXN
CUSIP: 882508104
MEETING DATE: 4/15/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director J.R. Adams For For Management
1.2 Elect Director D.L. Boren For For Management
1.3 Elect Director D.A. Carp For For Management
1.4 Elect Director T.J. Engibous For For Management
1.5 Elect Director G.W. Fronterhouse For For Management
1.6 Elect Director D.R. Goode For For Management
1.7 Elect Director W.R. Sanders For For Management
1.8 Elect Director R.J. Simmons For For Management
1.9 Elect Director R.K. Templeton For For Management
1.10 Elect Director C.T. Whitman For For Management
2 Ratify Ernst & Young as Auditors For For Management
3 Stockholder Proposal Regarding
Expensing of Stock Options Against Against Shareholder
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COMPANY: TRANSWITCH CORP.
TICKER: TXCC
CUSIP: 894065101
MEETING DATE: 5/20/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Dr. Santanu Das For For Management
1.2 Elect Director Alfred F. Boschulte For For Management
1.3 Elect Director Dr. Hagen Hultzsch For For Management
1.4 Elect Director Gerald F. Montry For For Management
1.5 Elect Director James M. Pagos For For Management
1.6 Elect Director Dr. Albert E. Paladino For For Management
1.7 Elect Director Erik H. Van Der Kaay For For Management
2 Transact Such Other Business as May
Properly Come Before the Meeting
and any Continuations or Adjournments For For Management
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COMPANY: TRIQUINT SEMICONDUCTOR, INC.
TICKER: TQNT
CUSIP: 89674K103
MEETING DATE: 5/14/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Francisco Alvarez For For Management
1.2 Elect Director Dr. Paul A. Gary For For Management
1.3 Elect Director Charles Scott Gibson For For Management
1.4 Elect Director Nicolas Kauser For For Management
1.5 Elect Director Ralph G. Quinsey For For Management
1.6 Elect Director Dr. Walden C. Rhines For For Management
1.7 Elect Director Steven J. Sharp For For Management
1.8 Elect Director Edward F. Tuck For For Management
1.9 Elect Director Willis C. Young For For Management
2 Amendment to TriQuint Semiconductor
1996 Stock Incentive Program to
Increase the Aggregate Number of
Shares of Common Stock that May
be Issued by 5,000,000 Shares For For Management
3 Ratify KPMG as Auditors For For Management
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COMPANY: VITESSE SEMICONDUCTOR CORP.
TICKER: VTSS
CUSIP: 928497106
MEETING DATE: 1/26/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Vincent Chan For For Management
1.2 Elect Director James A. Cole For For Management
1.3 Elect Director Alex Daly For For Management
1.4 Elect Director John C. Lewis For For Management
1.5 Elect Director Louis R. Tomasetta For For Management
2 Amendment to the Company's 1991
Employee Stock Purchase Plan For For Management
3 Ratify KPMG as Auditors For For Management
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COMPANY: XILINX, INC.
TICKER: XLNX
CUSIP: 983919101
MEETING DATE: 8/7/03
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director William P. Roelandts For For Management
1.2 Elect Director John L. Doyle For For Management
1.3 Elect Director Jerald G. Fishman For For Management
1.4 Elect Director Philip T. Gianos For For Management
1.5 Elect Director William G. Howard, Jr. For For Management
1.6 Elect Director Harold E. Hughes, Jr. For For Management
1.7 Elect Director Richard W. Sevcik For For Management
1.8 Elect Director Elizabeth Vanderslice For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: YAHOO! INC.
TICKER: YHOO
CUSIP: 984332106
MEETING DATE: 5/21/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Terry S. Semel For For Management
1.2 Elect Director Jerry Yang For For Management
1.3 Elect Director Roy J. Bostock For For Management
1.4 Elect Director Ronald W. Burkle For For Management
1.5 Elect Director Eric Hippeau For For Management
1.6 Elect Director Arthur H. Kern For For Management
1.7 Elect Director Robert A. Kotick For For Management
1.8 Elect Director Edward R. Kozel For For Management
1.9 Elect Director Gary L. Wilson For For Management
2 Amendment of the 1996 Employee
Stock Purchase Plan For For Management
3 Ratify Pricewaterhousecoopers Auditors For For Management
4 Shareholder Proposal Regarding
Expensing of Stock Options Against Against Shareholder
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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 under-
signed, thereunto duly authorized.
The Berkshire Funds
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/s/ Malcolm R. Fobes III
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Malcolm R. Fobes III
President
August 17, 2004
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