As filed with the Securities and Exchange Commission on August 31, 2006
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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
Date of reporting period: July 1, 2005 - June 30, 2006
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.
ITEM 1. PROXY VOTING RECORD
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COMPANY: ADVANCED MICRO DEVICES, INC.
TICKER: AMD
CUSIP: 007903107
MEETING DATE: 5/5/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Hector De. J. Ruiz For For Management
1.2 Elect Director W. Michael Barnes For For Management
1.3 Elect Director Bruce L. Claflin For For Management
1.4 Elect Director H. Paulett Eberhart For For Management
1.5 Elect Director Robert B. Palmer For For Management
1.6 Elect Director Leonard M. Silverman For For Management
1.7 Elect Director Morton L. Topfer For For Management
2 Ratify Ernst & Young LLP as Auditors For For Management
3 Approval of the Amendments to the 2004
Equity Incentive Plan. For For Management
4 Approval of the Amendment to the 2000
Employee Stock Purchase Plan. For For Management
5 Approval of the 2006 Executive
Incentive Plan. For For Management
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COMPANY: APPLE COMPUTER, INC.
TICKER: AAPL
CUSIP: 037833100
MEETING DATE: 4/27/06
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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 Ratify KPMG LLP as Auditors. For For Management
3 Consider a Shareholder Proposal if
Properly Presented at the Meeting. Against Against Shareholder
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COMPANY: AUTODESK, INC.
TICKER: ADSK
CUSIP: 052769106
MEETING DATE: 11/10/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1 Proposal to Approve the Adoption of the
Autodesk 2006 Employee Stock Plan and
the Reservation of 9,650,000 Shares of
Autodesk Common Stock, Plus a Number of
Additional Shares Equal to that Number
of Shares Canceled on Expiration of the
1996 Stock Plan (Not to Exceed 4,340,000
Shares), for Issuance Thereunder. For For Management
2 Proposal to Approve Amendments to
Autodesk's 2000 Directors' Option Plan
to Increase the Number of Shares Reserved
for Issuance Thereunder by 750,000 Shares,
to Provide that All Options Granted Under
the 2000 Directors' Option Plan will have
a Maximum Term of Six Years, as More Fully
Described in the Proxy Statement. For For Management
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COMPANY: BROADCOM CORP.
TICKER: BRCM
CUSIP: 111320107
MEETING DATE: 4/27/06
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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 Maureen E. Grzelakowski For For Management
1.3 Elect Director Nancy H. Handel For For Management
1.4 Elect Director John Major For For Management
1.5 Elect Director Scott A. McGregor For For Management
1.6 Elect Director Alan E. Ross For For Management
1.7 Elect Director Henry Samueli, Ph.D. For For Management
1.8 Elect Director Robert E. Switz For For Management
1.9 Elect Director Werner F. Wolfen For For Management
2 To Approve Second Amended and Restated
Articles of Incorporation to (i) Increase
the Aggregate Number of Authorized Shares
of Class A Common Stock from 800,000,000
Shares to 2,500,000,000 Shares, and (ii)
Eliminate All Statements Referring to
Series A-E Preferred Stock, All as More
Fully Described in the Proxy Statement. For For Management
3 To Approve an Amendment to the Company's
Bylaws, as Previously Amended and
Restated, to Increase the Authorized
Number of Directors from a Range of Five
(5) to Nine (9) to a Range of Six (6)
to Eleven (11) Directors. For For Management
4 To Approve an Amendment and Restatement
of Broadcom's 1998 Stock Incentive Plan,
as Previously Amended and Restated, which
Revises the Automatic Equity Grant Program
in Effect for New and Continuing Non-
Employee Board Members and Makes Certain
Technical Revisions and Improvements. For For Management
5 Ratify Ernst & Young LLP as Auditors. For For Management
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COMPANY: COGNIZANT TECHNOLOGY SOLUTIONS CORP.
TICKER: CTSH
CUSIP: 192446102
MEETING DATE: 6/13/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Venetia Kontogouris For For Management
1.2 Elect Director Thomas M. Wendel For For Management
2 To Amend and Restate Our 1999 Incentive
Compensation Plan, as Amended (the
"Incentive Plan"), to (i) Increase the
Maximum Number of Shares of Class A
Common Stock, and (ii) Re-Approve the
Series of Performance Criteria which
May Have Been Utilized in Establishing
Specific Targets to be Attained as a
Condition to the Vesting of Cash or
Stock Awards Under the Incentive Plan. For For Management
3 To Amend Our Restated Certificate of
Incorporation , as Amended, to Increase
the Maximum Number of Authorized Shares
of the Company's Stock, All Classes,
From: 340,000,000 Authorized Shares,
Consisting of (i) 325,000,000 Shares
of Class A Common Stock, and (ii)
15,000,000 Shares of Preferred Stock,
to 515,000,000 Authorized Shares. For For Management
4 Ratify Pricewaterhousecoopers Auditors. For For Management
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COMPANY: EBAY, INC.
TICKER: EBAY
CUSIP: 278642103
MEETING DATE: 6/13/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director William C. Ford, Jr. For For Management
1.2 Elect Director Dawn G. Lepore For For Management
1.3 Elect Director Pierre M. Omidyar For For Management
1.4 Elect Director Richard Schlosberg III For For Management
2 Approve an Amendment to Our 2001 Equity
Incentive Plan to Increase by 30,000,000
the Number of Shares of Common Stock that
May be Issued Under Our 2001 Equity
Incentive Plan. For For Management
3 Ratify Pricewaterhousecoopers Auditors. For For Management
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COMPANY: E*TRADE FINANCIAL CORP.
TICKER: ET
CUSIP: 269246104
MEETING DATE: 5/25/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Michael K. Parks For For Management
1.2 Elect Director Lewis E. Randall For For Management
1.3 Elect Director Stephen H. Willard For For Management
2 Ratify Deloitte & Touche LLP as Auditors. For For Management
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COMPANY: F5 NETWORKS, INC.
TICKER: FFIV
CUSIP: 315616102
MEETING DATE: 3/2/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Karl D. Guelich For For Management
1.2 Elect Director Keith D. Grinstein For For Management
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COMPANY: GAMESTOP CORP.
TICKER: GME
CUSIP: 36466R101
MEETING DATE: 10/6/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Daniel D. DeMatteo For For Management
1.2 Elect Director Leonard Riggio For For Management
1.3 Elect Director Gerald R. Szczepanski For For Management
2 Proposal to (i) Adopt the Merger
Agreement, Including the Transactions
Contemplated Thereby, (ii) Approve the
Amendment to GameStop's Certificate of
Incorporation, and (iii) Approve the
Amendment to the GameStop Amended and
Restated 2001 Incentive Plan. For For Management
3 Proposal to Adopt the GSC Holdings
Corp. 2005 Incentive Plan. For For Management
4 Ratify BDO Seidman LLP as Auditors. For For Management
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COMPANY: GAMESTOP CORP.
TICKER: GME
CUSIP: 36466R101
MEETING DATE: 6/27/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Daniel D. DeMatteo For For Management
1.2 Elect Director Michael N. Rosen For For Management
1.3 Elect Director Edward A. Volkwein For For Management
2 Proposal to Adopt the Amended and
Restated GameStop Corp. Supplemental
Compensation Plan. For For Management
3 Ratify BDO Seidman LLP as Auditors. For For Management
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COMPANY: GOOGLE, INC.
TICKER: GOOG
CUSIP: 38259P508
MEETING DATE: 5/11/06
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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 Sergey Brin For For Management
1.3 Elect Director Larry Page 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 Ann Mather For For Management
1.8 Elect Director Michael Moritz For For Management
1.9 Elect Director Paul S. Otellini For For Management
1.10 Elect Director K. Ram Shriram For For Management
1.11 Elect Director Shirley M. Tilghman For For Management
2 Ratify Ernst & Young as Auditors. For For Management
3 Approval of an Amendment to Google's
2004 Stock Plan to Increase the Number
of Authorized Shares of Class A Common
Stock Issuable Under the 2004 Stock Plan
From 13,431,660 to 17,931,660. For For Management
4 Stockholder Proposal to Request that
the Board of Directors Take the Steps
that May be Necessary to Adopt a
Recapitalization Plan that Would
Provide for All of the Company's
Outstanding Stock to Have One Vote
Per Share. Against For Shareholder
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COMPANY: MACROMEDIA, INC.
TICKER: MACR
CUSIP: 556100105
MEETING DATE: 7/18/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Robert K. Burgess For For Management
1.2 Elect Director Charles M. Boesenberg For For Management
1.3 Elect Director Stephen A. Elop For For Management
1.4 Elect Director John (Ian) Giffen For For Management
1.5 Elect Director Steven Gomo For For Management
1.6 Elect Director William H. Harris, Jr. For For Management
1.7 Elect Director Donald L. Lucas For For Management
1.8 Elect Director Elizabeth A. Nelson For For Management
1.9 Elect Director Timothy O'Reilly For For Management
1.10 Elect Director William B. Welty For For Management
2 Amendment to the Company's 2002 Equity
Incentive Plan. For For Mamagement
3 Ratify KPMG LLP as Auditors. For For Management
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COMPANY: MACROMEDIA, INC.
TICKER: MACR
CUSIP: 556100105
MEETING DATE: 8/24/05
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1 To Adopt the Agreement and Plan of
Merger and Reorganization, Dated
April 17, 2005, by and Among Adobe
Systems Incorporated, Avner
Acquisition Sub, Inc., a Wholly
Owned Subsidiary of Adobe Systems
Incorporated, and Macromedia, Inc. For For Management
2 To Approve an Adjournment of the
Macromedia Special Meeting, if
Necessary, if a Quorum is Present,
to Solicit Additional Proxies if
There are Not Sufficient Votes in
Favor of Proposal No. 1. For For Management
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COMPANY: MARVELL TECHNOLOGY GROUP LTD.
TICKER: MRVL
CUSIP: G5876H105
MEETING DATE: 6/9/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Sehat Sutardja, Ph.D. For For Management
1.2 Elect Director Weili Dai For For Management
1.3 Elect Director Pantas Sutardja, Ph.D. For For Management
1.4 Elect Director Arturo Krueger For For Management
2 Ratify Pricewaterhousecoopers Auditors
and to Authorize the Audit Committee
to Fix Their Remuneration for the 2007. For For Management
3 To Approve an Increase to the Company's
Authorized Share Capital. For For Management
4. To Approve an Amendment to the Company's
Second Amended and Restated By-Laws to
Amend the Provision Related to
Indemnification of Director and Officers. For For Management
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COMPANY: MONSTER WORLDWIDE, INC.
TICKER: MNST
CUSIP: 611742107
MEETING DATE: 6/7/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Andrew J. McKelvey For For Management
1.2 Elect Director George R. Eisele For For Management
1.3 Elect Director John Gaulding For For Management
1.4 Elect Director Michael Kaufman For For Management
1.5 Elect Director Ronald J. Kramer For For Management
1.6 Elect Director David A. Stein For For Management
1.7 Elect Director John Swann For For Management
2 Ratify BDO Seidman LLP as Auditors. For For Management
3 Stockholder Proposal Pertaining to
Board Diversity. Against For Shareholder
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COMPANY: RACKABLE SYSTEMS, INC.
TICKER: RACK
CUSIP: 750077109
MEETING DATE: 5/31/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Thomas K. Barton For For Management
1.2 Elect Director Gary A. Griffiths For For Management
1.3 Elect Director Michael J. Maulick For For Management
1.4 Elect Director Hagi Schwartz For For Management
1.5 Elect Director Ronald D. Verdoorn For For Management
2 Ratify Deloitte & Touche LLP as Auditors. For For Management
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COMPANY: SANDISK CORP.
TICKER: SNDK
CUSIP: 80004C101
MEETING DATE: 5/25/06
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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 Steven J. Gomo For For Management
1.4 Elect Director Eddy W. Hartenstein For For Management
1.5 Elect Director Catherine P. Lego For For Management
1.6 Elect Director Michael E. Marks For For Management
1.7 Elect Director Dr. James D. Meindl For For Management
2 Approve Amendments to the Company's
2005 Incentive Plan. For For Management
3 Approve an Amendment to the Company's
Certificate of Incorporation, Increasing
the Authorized Amount of Common Stock
From 400,000,000 to 800,000,000
Shares. For For Management
4 Ratify Ernst & Young LLP as Auditors. For For Management
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COMPANY: SEAGATE TECHNOLOGY
TICKER: STX
CUSIP: G7945J104
MEETING DATE: 5/17/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1 Proposal to Approve the Issuance of
Seagate Common Shares Pursuant to the
Agreement and Plan of Merger, Dated
as of December 20, 2005 (as Amended,
Supplemented or Modified From Time to
Time, the "Merger Agreement") by and
Among Seagate Technology, MD Merger
Corporation and Maxtor Corporation. For For Management
2 Proposal to Approve Adjournment of
the Extraordinary General Meeting to
a Later Date or Dates, if Necessary,
to Solicit Additional Proxies if
there are Insufficient Votes at the
Time of the Extraordinary General
Meeting to Approve the Issuance of
Seagate Common Shares in the Merger. For For Management
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COMPANY: TD AMERITRADE HOLDING CORP.
TICKER: AMTD
CUSIP: 03074K100
MEETING DATE: 3/9/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director W. Edmund Clark For For Management
1.2 Elect Director Michael D. Fleisher For For Management
1.3 Elect Director Glenn H. Hutchins For For Management
1.4 Elect Director Joseph H. Moglia For For Management
1.5 Elect Director Thomas S. Ricketts For For Management
2 Ratify Ernst & Young LLP as Auditors. For For Management
3 Amendment and Restatement of the
Company's 1996 Long-Term Incentive
Plan. For For Management
4 To Vote, in its Discretion, Upon
Any Other Business That May Properly
Come Before the Annual Meeting or any
Postponement or Adjournment Thereof.
Management is Not Aware of Any Other
Matters that Should Come Before the
Annual Meeting. For For Management
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COMPANY: XILINX, INC.
TICKER: XLNX
CUSIP: 983919101
MEETING DATE: 8/4/05
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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 J. Michael Patterson For For Management
1.8 Elect Director Richard W. Sevcik For For Management
1.9 Elect Director Elizabeth W. Vanderslice For For Management
2 Proposal to Ratify and Approve an
Amendment to the Company's 1990
Employee Qualified Stock Purchase Plan
to Increase the Number of Shares
Reserved for Issuance Thereunder by
7,000,000 Shares. For For Management
3 Ratify Ernst & Young LLP as Auditors. For For Management
4 If Properly Presented at the Annual
Meeting, to Consider a Stockholder
Proposal Regarding the Voting Standard
for Election of Directors. Against Against Shareholder
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COMPANY: YAHOO! INC.
TICKER: YHOO
CUSIP: 984332106
MEETING DATE: 5/25/06
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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 Vyomesh Joshi For For Management
1.8 Elect Director Robert A. Kotick For For Management
1.9 Elect Director Edward R. Kozel For For Management
1.10 Elect Director Gary L. Wilson For For Management
2 Amendment of the 1996 Directors'
Stock Option Plan. For For Management
3 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 31, 2006
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