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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
Investment Company Act File Number : 811-06628
Name of Registrant: The Yacktman Funds, Inc.
Address of Principal Executive Offices:
6300 Bridgepoint Parkway
Building One, Suite 320
Austin, Texas 78730
Name and address of agent of service:
Yacktman Asset Management Co.
The Yacktman Funds, Inc.
6300 Bridgepoint Parkway
Building One, Suite 320
Austin, Texas 78730
Registrant's telephone number including area code:
512-767-6700
Date of fiscal year end:
12/31/2006
Date of Reporting Period:
07/01/2005 - 06/30/2006
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Item 1: Proxy Voting Record - Yacktman Focused Fund
Registrant : The Yacktman Funds, Inc.
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Bristol Myers Squibb Company Ticker Security ID: Meeting Date Meeting Status
BMY CUSIP9 110122108 05/02/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Robert Allen Mgmt For Withhold Against
1.2 Elect Lewis Campbell Mgmt For For For
1.3 Elect Vance Coffman Mgmt For Withhold Against
1.4 Elect James Cornelius Mgmt For For For
1.5 Elect Peter Dolan Mgmt For For For
1.6 Elect Louis Freeh Mgmt For For For
1.7 Elect Laurie Glimcher Mgmt For Withhold Against
1.8 Elect Leif Johansson Mgmt For Withhold Against
1.9 Elect James Robinson III Mgmt For For For
2 RATIFICATION OF INDEPENDENT Mgmt For For For
REGISTERED PUBLIC
ACCOUNTING FIRM
3 EXECUTIVE COMPENSATION ShrHoldr Against Against For
DISCLOSURE
4 CUMULATIVE VOTING ShrHoldr Against For Against
5 RECOUPMENT ShrHoldr Against Against For
6 ANIMAL TREATMENT ShrHoldr Against Against For
7 TERM LIMITS ShrHoldr Against Against For
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Coca Cola Company Ticker Security ID: Meeting Date Meeting Status
KO CUSIP9 191216100 04/19/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Herbert Allen Mgmt For For For
1.2 Elect Ronald Allen Mgmt For For For
1.3 Elect Cathleen Black Mgmt For For For
1.4 Elect Barry Diller Mgmt For For For
1.5 Elect E. Neville Isdell Mgmt For For For
1.6 Elect Donald R. Keough Mgmt For For For
1.7 Elect Donald McHenry Mgmt For For For
1.8 Elect Sam Nunn Mgmt For Withhold Against
1.9 Elect James Robinson III Mgmt For For For
1.10 Elect Peter Ueberroth Mgmt For For For
1.11 Elect James Williams Mgmt For For For
2 Ratification of Auditor Mgmt For For For
3 Amendment to 1989 Restricted Mgmt For For For
Stock Award Plan
4 SHAREOWNER PROPOSAL ShrHoldr Against Against For
REGARDING CHARITABLE
CONTRIBUTIONS
5 Shareholder Proposal Regarding ShrHoldr Against Against For
Reviewing Energy Efficiency &
Renewables
6 SHAREOWNER PROPOSAL ShrHoldr Against Against For
REGARDING RESTRICTED
STOCK
7 SHAREOWNER PROPOSAL ShrHoldr Against Against For
REGARDING ENVIRONMENTAL
IMPACTS OF OPERATIONS IN
INDIA
8 Shareholder Proposal Regarding an ShrHoldr Against Against For
Independent Delegtion of Inquiry to
Columbia
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Colgate-Palmolive Company Ticker Security ID: Meeting Date Meeting Status
CL CUSIP9 194162103 05/04/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect John Cahill Mgmt For For For
1.2 Elect Jill Conway Mgmt For For For
1.3 Elect Ellen Hancock Mgmt For For For
1.4 Elect David Johnson Mgmt For For For
1.5 Elect Richard Kogan Mgmt For For For
1.6 Elect Delano Lewis Mgmt For For For
1.7 Elect Reuben Mark Mgmt For For For
1.8 Elect J. Pedro Reinhard Mgmt For For For
1.9 Elect Howard Wentz, Jr. Mgmt For For For
2 Ratification of Auditor Mgmt For For For
3 APPROVAL OF THE COMPANY S Mgmt For For For
2007 STOCK PLAN FOR NON-
EMPLOYEE DIRECTORS
4 STOCKHOLDER PROPOSAL ON ShrHoldr Against Against For
INDEPENDENT CHAIRMAN
5 STOCKHOLDER PROPOSAL ON ShrHoldr Against Against For
EXECUTIVE COMPENSATION
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Discovery Holding Company Ticker Security ID: Meeting Date Meeting Status
DISCA CUSIP9 25468Y107 05/31/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect J. David Wargo Mgmt For Withhold Against
2 INCENTIVE PLAN Mgmt For For For
3 AUDITORS RATIFICATION Mgmt For For For
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Electronic Data Systems Corp. Ticker Security ID: Meeting Date Meeting Status
EDS CUSIP9 285661104 04/18/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect W. Roy Dunbar Mgmt For For For
1.2 Elect Roger Enrico Mgmt For For For
1.3 Elect S. Malcolm Gillis Mgmt For For For
1.4 Elect Ray Groves Mgmt For For For
1.5 Elect Ellen Hancock Mgmt For For For
1.6 Elect Jeffrey Heller Mgmt For For For
1.7 Elect Ray Hunt Mgmt For For For
1.8 Elect Michael Jordan Mgmt For For For
1.9 Elect Edward A. Kangas Mgmt For For For
1.10 Elect R. David Yost Mgmt For For For
2 RATIFICATION OF APPOINTMENT Mgmt For For For
OF AUDITORS.
3 SHAREHOLDER PROPOSAL ShrHoldr Against For Against
ENTITLED DIRECTORS TO BE
ELECTED BY MAJORITY VOTE.
4 SHAREHOLDER PROPOSAL ShrHoldr Against Against For
ENTITLED INDEPENDENT
BOARD CHAIRMAN.
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Federal Home Loan Mortgage Corp Ticker Security ID: Meeting Date Meeting Status
FRE 313400301 07/15/2005 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Barbara T. Alexander Mgmt For For For
1.2 Elect Geoffrey T. Boisi Mgmt For For For
1.3 Elect Joan E. Donoghue Mgmt For For For
1.4 Elect Michelle Engler Mgmt For For For
1.5 Elect Richard Karl Goeltz Mgmt For For For
1.6 Elect Thomas S. Johnson Mgmt For Withhold Against
1.7 Elect William M. Lewis Jr Mgmt For For For
1.8 Elect Eugene M. McQuade Mgmt For For For
1.9 Elect Shaun F. O'Malley Mgmt For Withhold Against
1.10 Elect Ronald F. Poe Mgmt For For For
1.11 Elect Stephen A. Ross Mgmt For Withhold Against
1.12 Elect Richard F. Syron Mgmt For For For
1.13 Elect William J. Turner Mgmt For Withhold Against
2 Ratify selection of auditors Mgmt For For For
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Interpublic Group Companies Inc Ticker Security ID: Meeting Date Meeting Status
IPG CUSIP9 460690100 05/25/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Frank Borelli Mgmt For Withhold Against
1.2 Elect Reginald Brack Mgmt For Withhold Against
1.3 Elect Jill Considine Mgmt For Withhold Against
1.4 Elect Richard Goldstein Mgmt For For For
1.5 Elect H. John Greeniaus Mgmt For Withhold Against
1.6 Elect Michael Roth Mgmt For For For
1.7 Elect J. Phillip Samper Mgmt For Withhold Against
1.8 Elect David Thomas Mgmt For For For
2 2006 Performance Incentive Plan Mgmt For For For
3 Ratification of Auditor Mgmt For Against Against
4 APPROVAL OF PROPOSED ShrHoldr Against Against For
STOCKHOLDER PROPOSAL ON
SEPARATION OF CHAIRMAN AND
CEO
5 Shareholder Proposal Regarding ShrHoldr Against Against For
the Recoupment of Unearned
Management Bonuses
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Johnson & Johnson Ticker Security ID: Meeting Date Meeting Status
JNJ CUSIP9 478160104 04/27/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Mary Coleman Mgmt For For For
1.2 Elect James Cullen Mgmt For For For
1.3 Elect Robert Daretta Mgmt For For For
1.4 Elect Michael Johns Mgmt For For For
1.5 Elect Ann Jordan Mgmt For For For
1.6 Elect Arnold Langbo Mgmt For For For
1.7 Elect Susan Lindquist Mgmt For For For
1.8 Elect Leo Mullin Mgmt For For For
1.9 Elect Christine Poon Mgmt For For For
1.10 Elect Charles Prince Mgmt For For For
1.11 Elect Steven Reinemund Mgmt For For For
1.12 Elect David Satcher, M.D., Ph.D. Mgmt For For For
1.13 Elect William Weldon Mgmt For For For
2 APPROVAL OF AMENDMENTS TO Mgmt For For For
THE RESTATED CERTIFICATE OF
INCORPORATION
3 Ratification of Auditor Mgmt For For For
4 PROPOSAL ON CHARITABLE ShrHoldr Against Against For
CONTRIBUTIONS
5 PROPOSAL ON MAJORITY ShrHoldr Against For Against
VOTING REQUIREMENTS FOR
DIRECTOR NOMINEES
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Kraft Foods Inc Ticker Security ID: Meeting Date Meeting Status
KFT CUSIP9 50075N104 04/25/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Jan Bennink Mgmt For For For
1.2 Elect Louis Camilleri Mgmt For For For
1.3 Elect Roger K. Deromedi Mgmt For For For
1.4 Elect Dinyar Devitre Mgmt For For For
1.5 Elect Richard Lerner Mgmt For For For
1.6 Elect John Pope Mgmt For For For
1.7 Elect Mary Schapiro Mgmt For For For
1.8 Elect Charles Wall Mgmt For For For
1.9 Elect Deborah C. Wright Mgmt For For For
2 RATIFICATION OF THE Mgmt For For For
SELECTION OF INDEPENDENT
AUDITORS
3 APPROVAL OF THE 2006 STOCK Mgmt For For For
COMPENSATION PLAN FOR NON-
EMPLOYEE DIRECTORS
4 DISSOCIATION FROM THE 2006 ShrHoldr Against Against For
AND ALL FUTURE SO-CALLED
GAY GAMES
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Lancaster Colony Corp Ticker Security ID: Meeting Date Meeting Status
LANC 513847103 11/21/2005 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Robert L. Fox Mgmt For For For
1.2 Elect John B. Gerlach Jr. Mgmt For For For
1.3 Elect Edward H. Jennings Mgmt For For For
2 Adopt the 2005 Stock Plan Mgmt For For For
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Liberty Media Corp. Ticker Security ID: Meeting Date Meeting Status
L CUSIP9 530718105 05/09/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1 THE MERGER PROPOSAL: (SEE Mgmt For For For
PAGE 39 OF THE PROXY
STATEMENT).
2 THE TRACKING STOCK Mgmt For For For
PROPOSAL: (SEE PAGE 39 OF
THE PROXY STATEMENT).
3 THE OPTIONAL CONVERSION Mgmt For For For
PROPOSAL: (SEE PAGE 39 OF
THE PROXY STATEMENT).
4 THE OPTIONAL REDEMPTION Mgmt For For For
PROPOSAL: (SEE PAGE 40 OF
THE PROXY STATEMENT).
5 THE GROUP DISPOSITION Mgmt For For For
PROPOSAL: (SEE PAGE 40 OF
THE PROXY STATEMENT).
6.1 Elect Donne Fisher Mgmt For For For
6.2 Elect Gregory Maffei Mgmt For For For
6.3 Elect M. LaVoy Robison Mgmt For For For
7 AUDITORS RATIFICATION Mgmt For For For
PROPOSAL
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Pfizer Inc Ticker Security ID: Meeting Date Meeting Status
PFE CUSIP9 717081103 04/27/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Michael Brown Mgmt For For For
1.2 Elect M. Anthony Burns Mgmt For For For
1.3 Elect Robert Burt Mgmt For For For
1.4 Elect W. Don Cornwell Mgmt For For For
1.5 Elect William Gray III Mgmt For For For
1.6 Elect Constance Horner Mgmt For For For
1.7 Elect William Howell Mgmt For For For
1.8 Elect Stanley Ikenberry Mgmt For For For
1.9 Elect George Lorch Mgmt For For For
1.10 Elect Henry McKinnell Mgmt For For For
1.11 Elect Dana Mead Mgmt For For For
1.12 Elect Ruth Simmons Mgmt For For For
1.13 Elect William Steere, Jr. Mgmt For For For
2 Ratification of Auditor Mgmt For For For
3 Elimination of Supermajority Mgmt For For For
Requirement
4 SHAREHOLDER PROPOSAL ShrHoldr Against Against For
RELATING TO TERM LIMITS FOR
DIRECTORS.
5 Shareholder Proposal Regarding ShrHoldr Against Against For
Drug Pricing
6 SHAREHOLDER PROPOSAL ShrHoldr Against For Against
RELATING TO CUMULATIVE
VOTING.
7 SHAREHOLDER PROPOSAL ShrHoldr Against Against For
REQUESTING SEPARATION OF
ROLES OF CHAIRMAN AND CEO.
8 SHAREHOLDER PROPOSAL ShrHoldr Against Against For
REQUESTING A REPORT ON
POLITICAL CONTRIBUTIONS.
9 Shareholder Proposal Regarding ShrHoldr Against Against For
Animal Welfare
10 Shareholder Proposal Regarding ShrHoldr Against Against For
Animal Welfare
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Tyco International Limited Ticker Security ID: Meeting Date Meeting Status
TYC CUSIP9 902124106 03/09/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1 SET THE MAXIMUM NUMBER OF Mgmt For For For
DIRECTORS AT 12
2.1 Elect Dennis Blair Mgmt For For For
2.2 Elect Edward Breen Mgmt For For For
2.3 Elect Brian Duperreault Mgmt For For For
2.4 Elect Bruce Gordon Mgmt For For For
2.5 Elect Rajiv Gupta Mgmt For For For
2.6 Elect John Krol Mgmt For Withhold Against
2.7 Elect Mackey McDonald Mgmt For Withhold Against
2.8 Elect H. Carl McCall Mgmt For For For
2.9 Elect Brendan O'Neill Mgmt For For For
2.10 Elect Sandra Wijnberg Mgmt For For For
2.11 Elect Jerome York Mgmt For For For
3 Authority to Appoint an Additional Mgmt For For For
Director
4 Ratification of Auditor and Mgmt For For For
Authority to Set Fees
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UNILEVER N.V. Ticker Security ID: Meeting Date Meeting Status
UN CUSIP9 904784709 05/08/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1 Accounts and Reports; Allocation Mgmt For For For
of Profits/Dividends
2 DISCHARGE OF THE EXECUTIVE Mgmt For For For
DIRECTORS.
3 DISCHARGE OF THE NON- Mgmt For For For
EXECUTIVE DIRECTORS.
4 SHARE EQUALIZATION. Mgmt For For For
5 APPROVAL: SHARE Mgmt For For For
EQUALIZATION
6 Amendment to Articles Mgmt For For For
7 ALIGNMENT OF DIVIDEND Mgmt For For For
GENERATING CAPACITY AND
DIVIDEND ENTITLEMENTS.
8.1 Elect Patrick Cescau Mgmt For For For
8.2 Elect Kees van der Graaf Mgmt For For For
8.3 Elect Ralph Kugler Mgmt For For For
8.4 Elect Rudy Markham Mgmt For For For
8.5 Elect Antony Burgmans Mgmt For For For
8.6 Elect Lord Brittan of Spennithorne Mgmt For For For
8.7 Elect Baroness Chalker of Wallasey Mgmt For For For
8.8 Elect Wim Dik Mgmt For For For
8.9 Elect Lord Simon of Highbury Mgmt For For For
8.10 Elect Jeroen van der Veer Mgmt For For For
8.11 Elect Charles Golden Mgmt For For For
8.12 Elect Byron Grote Mgmt For For For
8.13 Elect Jean-Cyril Spinetta Mgmt For For For
8.14 Elect Kornelis Storm Mgmt For For For
9 REMUNERATION OF NON- Mgmt For For For
EXECUTIVE DIRECTORS.
10 Appointment of Auditor Mgmt For For For
11 Authority to Issue Stock w/ or Mgmt For For For
w/out Preemptive Rights
12 Authority to Repurchase Shares Mgmt For For For
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Wal Mart Stores Inc Ticker Security ID: Meeting Date Meeting Status
WMT CUSIP9 931142103 06/02/2006 Voted
Issue
No. Description Proponent Mgmt Rec Vote Cast For/Agnst Mgmt
1.1 Elect Aida Alvarez Mgmt For For For
1.2 Elect James Breyer Mgmt For For For
1.3 Elect M. Michele Burns Mgmt For For For
1.4 Elect James Cash, Jr. Mgmt For For For
1.5 Elect Douglas Daft Mgmt For For For
1.6 Elect David Glass Mgmt For For For
1.7 Elect Roland Hernandez Mgmt For Withhold Against
1.8 Elect H. Lee Scott, Jr. Mgmt For For For
1.9 Elect Jack Shewmaker Mgmt For For For
1.10 Elect Jim Walton Mgmt For For For
1.11 Elect S. Robson Walton Mgmt For For For
1.12 Elect Christopher Williams Mgmt For For For
1.13 Elect Linda Wolf Mgmt For For For
2 RATIFICATION OF INDEPENDENT Mgmt For For For
ACCOUNTANTS.
3 A SHAREHOLDER PROPOSAL ShrHoldr Against Against For
REGARDING HUMANE POULTRY
SLAUGHTER
4 A SHAREHOLDER PROPOSAL ShrHoldr Against Against For
REGARDING A POLITICAL
CONTRIBUTIONS REPORT
5 A SHAREHOLDER PROPOSAL ShrHoldr Against For Against
REGARDING A DIRECTOR
ELECTION MAJORITY VOTE
STANDARD
6 A SHAREHOLDER PROPOSAL ShrHoldr Against Against For
REGARDING A SUSTAINABILITY
REPORT
7 A SHAREHOLDER PROPOSAL ShrHoldr Against Against For
REGARDING COMPENSATION
DISPARITY
8 Shareholder Proposal Regarding ShrHoldr Against Against For
Compensation Glass Ceiling
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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
undersigned, thereunto duly authorized.
Registrant: The Yacktman Funds, Inc.
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By: /s/ Donald A. Yacktman
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Name: Donald A. Yacktman
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Title: President
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Date: 08/08/2006
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