As filed with the Securities and Exchange Commission on August 11, 2005
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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
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Date of fiscal year end: December 31, 2004
Date of reporting period: June 30, 2005
Form N-PX is to be used by a registered management investment company, other
than a small business investment company registered on Form N-5 (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: APPLE COMPUTER, INC.
TICKER: AAPL
CUSIP: 037833100
MEETING DATE: 4/21/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Fred D. Anderson For For Management
1.2 Elect Director William V. Campbell For For Management
1.3 Elect Director Millard S. Drexler For For Management
1.4 Elect Director Albert A. Gore, Jr. For For Management
1.5 Elect Director Steven P. Jobs For For Management
1.6 Elect Director Arthur D. Levinson For For Management
1.7 Elect Director Jerome B. York For For Management
2 Approve Apple Computer, Inc. Performance
Bonus Plan For Against Management
3 Approve Amendments to the 2003 Employee
Stock Option Plan, Including an Increase
in the Number of Shares of Common Stock
Reserved for Issuance by 49 Million
Shares For Against Management
4 Approve an Amendment to the Employee
Stock Purchase Plan to Increase the
Number of Shares of Common Stock
Reserved for Issuance by 2 Million
Shares For Against Management
5 Ratify KPMG LLP as Auditors For For Management
6 Consider a Shareholder Proposal if
Properly Presented at the Meeting Against For Management
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COMPANY: APPLIED MICRO CIRCUITS CORP.
TICKER: AMCC
CUSIP: 03822W109
MEETING DATE: 9/1/04
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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, Sr. 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 L. Wayne Price For For Management
1.6 Elect Director Arthur B. Stabenow For For Management
1.7 Elect Director Harvey P. White For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: THE CHEESECAKE FACTORY, INC.
TICKER: CAKE
CUSIP: 163072101
MEETING DATE: 5/24/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director David Overton For For Management
1.2 Elect Director Karl L. Matthies For For Management
2 Approval of the Material Terms of the
Performance Incentive Goals for the
Cheesecake Factory, Inc. Amended and
Restated Annual Performance Incentive
Plan, as Described in the Accompanying
Proxy Statement For For Management
3 Approval of an Amendment to the Company's
Certificate of Incorporation to Increase
the Maximum Authorized Number of Shares
of Common Stock from 150,000,000 to
250,000,000 as Described in the
Accompanying Proxy Statement For For Management
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COMPANY: CISCO SYSTEMS, INC.
TICKER: CSCO
CUSIP: 17275R102
MEETING DATE: 11/18/04
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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 M. Michele Burns For For Management
1.3 Elect Director Larry R. Carter For For Management
1.4 Elect Director John T. Chambers For For Management
1.5 Elect Director Dr. James F. Gibbons For For Management
1.6 Elect Director Dr. John L. Hennessy For For Management
1.7 Elect Director Roderick C. McGeary For For Management
1.8 Elect Director James C. Morgan For For Management
1.9 Elect Director John P. Morgridge For For Management
1.10 Elect Director Donald T. Valentine For For Management
1.11 Elect Director Steven M. West For For Management
1.12 Elect Director Jerry Yang For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
3 Shareholder Proposal Requesting that the
Board's Compensation Committee Initiate
a Review of Cisco's Executive Compensation
Policies and Make Available, Upon Request,
a Report of that Review by Jan. 1, 2005,
as More Fully Set Forth in the
Accompanying Proxy Statement Against Against Shareholder
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COMPANY: EBAY, INC.
TICKER: EBAY
CUSIP: 278642103
MEETING DATE: 6/23/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Fred D. Anderson For For Management
1.2 Elect Director Edward W. Barnholt For For Management
1.3 Elect Director Scott D. Cook For For Management
1.4 Elect Director Robert C. Kagle For For Management
2 Approve eBay Incentive Plan in Order
to Qualify it Under Section 162(M)
of the Internal Revenue Code For For Management
3 Approve an Amendment to Certificate of
Incorporation to Increase the Authorized
Number of Shares of Common Stock From
1,790,000,000 to 3,580,000,000 Shares For For Management
4 Ratify Pricewaterhousecoopers Auditors For For Management
5 Shareholder Proposal Regarding Granting
of Performance-Vesting Shares to Senior
Executives Against For Shareholder
6 Shareholder Proposal Regarding the Voting
Standard for Director Elections Against Against Shareholder
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COMPANY: ELECTRONIC ARTS, INC.
TICKER: ERTS
CUSIP: 285512109
MEETING DATE: 7/29/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director M. Richard Asher For For Management
1.2 Elect Director William J. Byron For For Management
1.3 Elect Director Leonard S. Coleman For For Management
1.4 Elect Director Gary M. Kusin For For Management
1.5 Elect Director Gregory B. Maffei For For Management
1.6 Elect Director Timothy Mott For For Management
1.7 Elect Director Robert W. Pittman For For Management
1.8 Elect Director Lawrence F. Probst III For For Management
1.9 Elect Director Linda J. Srere For For Management
2 Amendments to the 2000 Equity Incentive
Plan For For Management
3 Amendment to the 2000 Employee Stock
Purchase Plan For For Management
4 Amendment of the Certificate of
Incorporation to Consolidate Common Stock For For Management
5 Amendment of the Certificate of
Incorporation to Increase the Number of
Authorized Shares of Common Stock For For Management
6 Ratification of Appointment of Auditors For For Management
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COMPANY: EMC CORP.
TICKER: EMC
CUSIP: 268648102
MEETING DATE: 5/5/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Michael J. Cronin For For Management
1.2 Elect Director W. Paul Fitzgerald For For Management
1.3 Elect Director Joseph M. Tucci For For Management
2 Approve Amendments to EMC's 2003 Stock
Plan to Increase by 100,000,000 the
Number of Shares Available Under the
Plan, and Increase the Number of Shares
Which May be Issued Pursuant to Awards
of Restricted Stock and/or Restricted
Stock Units to 30% of the Total
Authorized Shares Under the Plan,
as Described in EMC's Proxy Statement For Against Management
3 Ratify Pricewaterhousecoopers Auditors For For Management
4 To Act Upon a Shareholder Proposal
Relating to Performance-Based Stock
Options, as Described in EMC's Proxy
Statement Against Against Shareholder
5 To Act Upon a Shareholder Proposal
Relating to EMC's Audit Committee,
as Described in EMC's Proxy Statement Against Against Shareholder
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COMPANY: F5 NETWORKS, INC.
TICKER: FFIV
CUSIP: 315616102
MEETING DATE: 2/24/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Rich Malone For For Management
1.2 Elect Director A. Gary Ames For For Management
2 Approve 2005 Equity Incentive Plan For For Management
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COMPANY: GOOGLE, INC.
TICKER: GOOG
CUSIP: 38259P508
MEETING DATE: 5/12/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Eric Schmidt For For Management
1.2 Elect Director Lawrence Page For For Management
1.3 Elect Director Sergey Brin For For Management
1.4 Elect Director L. John Doerr For For Management
1.5 Elect Director John L. Hennessy For For Management
1.6 Elect Director Arthur D. Levinson For For Management
1.7 Elect Director Michael Moritz For For Management
1.8 Elect Director Paul S. Otellini For For Management
1.9 Elect Director K. Ram Shriram For For Management
2 Ratify Ernst & Young as Auditors For For Management
3 Approve Amendment to Google's 2004
Stock Plan to, Among Other Things,
Increase the Number of Authorized
Shares of Class A Common Stock
Issuable Under the 2004 Stock Plan
From 6,431,660 to 13,431,660 as More
Fully Described in the Proxy Statement For For Management
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COMPANY: INFOSPACE, INC.
TICKER: INSP
CUSIP: 45678T201
MEETING DATE: 5/9/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director George M. Tronsrue For For Management
1.2 Elect Director Vanessa A. Wittman For For Management
2 Ratify Deloitte & Touche as Auditors For For Management
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COMPANY: INTEL CORP.
TICKER: INTC
CUSIP: 458140100
MEETING DATE: 5/18/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Craig R. Barrett For For Management
1.2 Elect Director Charlene Barshefsky For For Management
1.3 Elect Director E. John P. Browne For For Management
1.4 Elect Director D. James Guzy For For Management
1.5 Elect Director Reed E. Hundt For For Management
1.6 Elect Director Paul S. Otellini For For Management
1.7 Elect Director David S. Pottruck For For Management
1.8 Elect Director Jane E. Shaw For For Management
1.9 Elect Director John L. Thornton For For Management
1.10 Elect Director David B. Yoffie For For Management
2 Ratification of Appointment of Auditors For For Management
3 Approve Amendment and Extension of the
2004 Equity Incentive Plan For For Management
4 Approve Amendment and Extension of the
Executive Officer Incentive Plan For For Management
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COMPANY: JDS UNIPHASE CORP.
TICKER: JDSU
CUSIP: 46612J101
MEETING DATE: 11/16/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Bruce D. Day For For Management
1.2 Elect Director Martin A. Kaplan For For Management
1.2 Elect Director Kevin J. Kennedy For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: JUNIPER NETWORKS, INC.
TICKER: JNPR
CUSIP: 48203R104
MEETING DATE: 5/18/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director William R. Hearst III For For Management
1.2 Elect Director Kenneth Goldman For For Management
1.3 Elect Director Frank Marshall For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: LSI LOGIC CORP.
TICKER: LSI
CUSIP: 502161102
MEETING DATE: 5/12/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Wilfred J. Corrigan For For Management
1.2 Elect Director James H. Keyes For For Management
1.3 Elect Director Malcolm R. Currie For For Management
1.4 Elect Director T.Z. Chu For For Management
1.5 Elect Director R. Douglas Norby For For Management
1.6 Elect Director Matthew J. O'Rourke For For Management
1.7 Elect Director Gregorio Reyes For For Management
1.8 Elect Director Larry W. Sonsini For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
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COMPANY: MARVELL TECHNOLOGY GROUP LTD.
TICKER: MRVL
CUSIP: G5876H105
MEETING DATE: 6/10/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Kuo We (Herbert) Chang For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
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COMPANY: RED HAT, INC.
TICKER: RHAT
CUSIP: 756577102
MEETING DATE: 9/21/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Gen. H. Hugh Shelton For For Management
1.2 Elect Director Eugene J. McDonald For For Management
1.3 Elect Director Matthew J. Szulik For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
3 Adopt the 2004 Long-Term Incentive Plan For For Management
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COMPANY: SANDISK CORP.
TICKER: SNDK
CUSIP: 80004C101
MEETING DATE: 5/27/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Dr. Eli Harari For For Management
1.2 Elect Director Irwin Federman For For Management
1.3 Elect Director Catherine P. Lego For For Management
1.4 Elect Director Michael E. Marks For For Management
1.5 Elect Director Dr. James D. Meindl For For Management
1.6 Elect Director Alan F. Shugart For For Management
2 Approve the Implementation of the
SanDisk Corp. 2005 Stock Incentive Plan For For Management
3 Approve the Implementation of the
SanDisk Corp. 2005 Employee Stock
Purchase Plan and the SanDisk Corp.
2005 International Employee Stock
Purchase Plan, Which Will Share a
Common Share Reserve of the Company's
Common Stock For For Management
4 Ratify Ernst & Young as Auditors For For Management
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COMPANY: SONUS NETWORKS INC.
TICKER: SONS
CUSIP: 835916107
MEETING DATE: 12/9/04
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Paul J. Ferri For For Management
1.2 Elect Director Rubin Gruber For For Management
1.3 Elect Director H. Brian Thompson For For Management
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COMPANY: TIBCO SOFTWARE, INC.
TICKER: TIBX
CUSIP: 88632Q103
MEETING DATE: 4/21/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Vivek Y. Ranadive For For Management
1.2 Elect Director Bernard Bourigeaud For For Management
1.3 Elect Director Eric Dunn For For Management
1.4 Elect Director Naren Gupta For For Management
1.5 Elect Director Peter Job For For Management
1.6 Elect Director Philip K. Wood For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
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COMPANY: VALUECLICK, INC.
TICKER: VCLK
CUSIP: 92046N102
MEETING DATE: 6/6/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director James R. Zarley For For Management
1.2 Elect Director David S. Buzby For For Management
1.3 Elect Director Martin T. Hart For For Management
1.4 Elect Director Tom A. Vadnais For For Management
1.5 Elect Director Jeffrey F. Rayport For For Management
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COMPANY: VERISIGN, INC.
TICKER: VRSN
CUSIP: 92343E102
MEETING DATE: 5/26/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Scott G. Kriens For For Management
1.2 Elect Director Len J. Lauer For For Management
1.3 Elect Director Stratton D. Sclavos For For Management
2 Amend the 1998 Directors Stock Option
Plan to Increase the Size of the Initial
Option Grants and Annual Option Grants to
Non-Employee Directors to 50,000 Shares
and 25,000 Shares, Respectively For For Management
3 Ratify KPMG LLP as Auditors For For Management
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COMPANY: WEBSENSE, INC.
TICKER: WBSN
CUSIP: 947684106
MEETING DATE: 6/7/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Mark S. St. Clare For For Management
1.2 Elect Director Peter C. Waller 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: 5/19/05
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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 1995 Stock Plan For For Management
3 Amendment of the 1996 Directors'
Stock Option Plan For For Management
4 Ratification of Appointment of Auditors For For Management
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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 11, 2005
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