N-PX 1 formnpx2004.txt PROXY VOTING 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 811-09277 Viking Mutual Funds -------------------------------------------------------------------------------- Exact name of registrant as specified in charter) 1400 14th Ave. SW Minot, ND 58701 -------------------------------------------------------------------------------- (Address of principal executive offices) (Zip code) Viking Fund Management, LLC 1400 14th Ave. SW, Minot, ND 58701 -------------------------------------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 1-800-933-8413 Date of fiscal year end: 12/31/03 Date of reporting period: 6/30/2004 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 information under the clearance requirements of 44 U.S.C. ss. 3507. SEC 2451 (4-03) Persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. Viking Small-Cap Value Fund -------------------------------------------------------------------------------- A.O. SMITH CORPORATION Ticker: AOS Security ID: 831865209 Meeting Date: April 5, 2004 Meeting Type: Annual Record Date: February 25, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify Appointment of independent For For Management auditors -------------------------------------------------------------------------------- APPLEBEE'S INTERNATIONAL Ticker: APPB Security ID: 037899101 Meeting Date: May 18, 2004 Meeting Type: Annual Record Date: March 15, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3 Adopt stock purchase plan For For Management 4 Ratify appointment of independent For For Management auditors 5 Allow shareholders to select Against Against Shareholder auditors -------------------------------------------------------------------------------- APTARGROUP, INC. Ticker: ATR Security ID: 038336103 Meeting Date: May 5, 2004 Meeting Type: Annual Record Date: March 11, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For For Management 3 Adopt Director stock option plan For For Management -------------------------------------------------------------------------------- ARKANSAS BEST CORPORATION Ticker: ABFS Security ID: 040790107 Meeting Date: April 27, 2004 Meeting Type: Annual Record Date: February 27, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- BJ'S WHOLESALE Ticker: BJ Security ID: 05548J106 Meeting Date: May 20, 2004 Meeting Type: Annual Record Date: April 5, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend omnibus stock option plan For For Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- BORGWARNER INC. Ticker: BWA Security ID: 099724106 Meeting Date: April 21, 2004 Meeting Type: Annual Record Date: March 5, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3 Approve authorized common stock For For Management increase 4 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- CABLE DESIGN TECHNOLOGIES CORP Ticker: CDT Security ID: 126924109 Meeting Date: December 9, 2003 Meeting Type: Annual Record Date: October 22, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- CHURCH & DWIGHT Ticker: CHD Security ID: 171340102 Meeting Date: May 6, 2004 Meeting Type: Annual Record Date: March 12, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- CLAIRE'S STORES, INC. Ticker: CLE Security ID: 179584107 Meeting Date: June 23, 2004 Meeting Type: Annual Record Date: April 30, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Norther Irelenad Against Against Shareholder -------------------------------------------------------------------------------- CLARCOR INC. Ticker: CLC Security ID: 179895107 Meeting Date: March 22, 2004 Meeting Type: Annual Record Date: February 4, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt stock purchase plan For For Management -------------------------------------------------------------------------------- CONMED CORPORATION Ticker: CNMD Security ID: 207410101 Meeting Date: May 18, 2004 Meeting Type: Annual Record Date: March 31, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Amend long term incentive plan For For Management -------------------------------------------------------------------------------- DENTSPLY INTERNATIONAL Ticker: XRAY Security ID: 249030107 Meeting Date: May 10, 2004 Meeting Type: Annual Record Date: March 25, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- GEORGIA GULF CORPORATION Ticker: GGC Security ID: 373200203 Meeting Date: May 18, 2004 Meeting Type: Annual Record Date: March 29, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Incentive stock options For For Management 4 Stock bonus plan For For Management -------------------------------------------------------------------------------- GRANITE CONSTRUCTION INCORPORATED Ticker: GVA Security ID: 387328107 Meeting Date: May 24, 2004 Meeting Type: Annual Record Date: March 26, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Incentive stock options For Against Management 3 Corporate governance Against Against Shareholder 4 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- INSITUFORM TECHNOLOGIES, INC. Ticker: INSU Security ID: 457667103 Meeting Date: April 28, 2004 Meeting Type: Annual Record Date: March 3, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management -------------------------------------------------------------------------------- INTERNATIONAL RECTIFIER CORPORATION Ticker: IRF Security ID: 460254105 Meeting Date: December 8, 2003 Meeting Type: Annual Record Date: September 26, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend omnibus stock option plan For For Management 3 Amend omnibus stock option plan For Against Management 4 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- INTERNATIONAL RECTIFIER CORPORATION Ticker: IRF Security ID: 460254105 Meeting Date: January 26, 2004 Meeting Type: Special Record Date: December 19, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve authorized common stock For Against Management increase -------------------------------------------------------------------------------- JAKKS PACIFIC, INC. Ticker: JAKK Security ID: 47012E106 Meeting Date: September 3, 2003 Meeting Type: Annual Record Date: July 8, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Transact other business For Against Management -------------------------------------------------------------------------------- LAFARGE NORTH AMERICA INC. Ticker: LAF Security ID: 505862102 Meeting Date: May 4, 2004 Meeting Type: Annual Record Date: February 20, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management -------------------------------------------------------------------------------- LIBBEY INC. Ticker: LBY Security ID: 529898108 Meeting Date: May 6, 2004 Meeting Type: Annual Record Date: March 17, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend omnibus stock option plan For For Management -------------------------------------------------------------------------------- MACK-CALI REALTY CORPORATION Ticker: CLI Security ID: 554489104 Meeting Date: May 20, 2004 Meeting Type: Annual Record Date: April 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Incentive stock options For For Management 4 Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- MIM CORPORATION Ticker: MIMS Security ID: 553044108 Meeting Date: May 25, 2004 Meeting Type: Annual Record Date: April 2, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- NEWIELD EXPLORATION COMPANY Ticker: NFX Security ID: 651290108 Meeting Date: May 6, 2004 Meeting Type: Annual Record Date: March 19, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For For Management 3 Approve authorized common stock For For Management increase 4 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- OUTBACK STEAKHOUSE, INC. Ticker: OSI Security ID: 689899102 Meeting Date: April 21, 2004 Meeting Type: Annual Record Date: February 27, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend stock option plan For For Management 3 Transact other business For For Management -------------------------------------------------------------------------------- OWENS & MINOR, INC. Ticker: OMI Security ID: 690732102 Meeting Date: May 25, 2004 Meeting Type: Annual Record Date: March 3, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- PIEDMONT NATURAL GAS COMPANY, INC. Ticker: PNY Security ID: 720186105 Meeting Date: February 27, 2004 Meeting Type: Annual Record Date: January 9, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- POLYMEDICA CORPORATION Ticker: PLMD Security ID: 731738100 Meeting Date: September 26, 2003 Meeting Type: Annual Record Date: August 8, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- PROTECTIVE LIFE CORPORATION Ticker: PL Security ID: 743674103 Meeting Date: May 4, 2004 Meeting Type: Annual Record Date: February 20, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt non-employee director plan For For Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- QUESTAR CORPORATION Ticker: STR Security ID: 748356102 Meeting Date: May 18, 2004 Meeting Type: Annual Record Date: March 22, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management -------------------------------------------------------------------------------- RC2 CORPORATION Ticker: RCRC Security ID: 749388106 Meeting Date: May 7, 2004 Meeting Type: Annual Record Date: March 22, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- RPM INTERNATIONAL INC. Ticker: RPM Security ID: 749685103 Meeting Date: October 10, 2003 Meeting Type: Annual Record Date: August 15, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For For Management -------------------------------------------------------------------------------- ROADWAY CORPORATION Ticker: ROAD Security ID: 769742107 Meeting Date: December 9, 2003 Meeting Type: Special Record Date: October 16, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Approve merger agreement For For Management 2 Approve motion to adjourn meeting For For Managmeent -------------------------------------------------------------------------------- SCOTTISH RE GROUP LIMITED Ticker: SCT Security ID: G7885T104 Meeting Date: May 5, 2004 Meeting Type: Annual Record Date: March 10, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For For Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- SHOPKO STORES, INC. Ticker: SKO Security ID: 824911101 Meeting Date: May 26, 2004 Meeting Type: Annual Record Date: April 2, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- SPINNAKER EXPLORATION COMPANY Ticker: SKE Security ID: 84855W10 Meeting Date: May 5, 2004 Meeting Type: Annual Record Date: March 12, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- SUPERIOR INDUSTRIES INTERNATIONAL Ticker: SUP Security ID: 868168105 Meeting Date: May 10, 2004 Meeting Type: Annual Record Date: March 29, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt/amend executive incentive For For Management bonus plan 3 Adopt/amend executive incentive For For Management bonus plan -------------------------------------------------------------------------------- TECHNITROL, INC. Ticker: TNL Security ID: 878555101 Meeting Date: May 19, 2004 Meeting Type: Annual Record Date: March 5, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management -------------------------------------------------------------------------------- TELEFLEX INCORPORATED Ticker: TFX Security ID: 879369106 Meeting Date: April 30, 2004 Meeting Type: Annual Record Date: March 2, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- WEST PHARMACEUTICAL SERVICES, INC. Ticker: WST Security ID: 955306105 Meeting Date: May 4, 2004 Meeting Type: Annual Record Date: March 25, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For Against Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- XTO ENERGY INC. Ticker: XTO Security ID: 98385X106 Meeting Date: May 18, 2004 Meeting Type: Annual Record Date: March 31, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Approve authorized common stock For For Management increase -------------------------------------------------------------------------------- YELLOW ROADWAY CORPORATION Ticker: YELL Security ID: 985577105 Meeting Date: May 20, 2004 Meeting Type: Annual Record Date: March 22, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For Against Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- Viking Large-Cap Value Fund -------------------------------------------------------------------------------- ALCOA Ticker: AA Security ID: 013817101 Meeting Date: April 30, 2004 Meeting Type: Annual Record Date: February 2, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3A Miscellaneous Against Against Shareholder 3B Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- AMERISOURCEBERGEN CORPORATION Ticker: ABC Security ID: 03073E105 Meeting Date: March 5, 2004 Meeting Type: Annual Record Date: January 12, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management -------------------------------------------------------------------------------- ANADARKO PETROLEUM CORPORATION Ticker: APC Security ID: 032511107 Meeting Date: May 6, 2004 Meeting Type: Annual Record Date: March 8, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend incentive stock option plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Environmental Against Against Shareholder -------------------------------------------------------------------------------- APACHE CORPORATION Ticker: APA Security ID: 037411105 Meeting Date: May 6, 2004 Meeting Type: Annual Record Date: March 17, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Political/government Against Against Shareholder -------------------------------------------------------------------------------- BANK OF AMERICA CORPORATION Ticker: BAC Security ID: 060505104 Meeting Date: May 26, 2004 Meeting Type: Annual Record Date: April 7, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Miscellaneous Against Against Shareholder 4 Board of Directors Against Against Shareholder 5 Establish nominating committee Against Against Shareholder 6 Miscellaneous Against Against Shareholder 7 Miscellaneous Against Against Shareholder -------------------------------------------------------------------------------- CANADIAN PACIFIC CORPORATION Ticker: CP Security ID: 13645T100 Meeting Date: April 20, 2004 Meeting Type: Annual Record Date: March 9, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- CHEVRONTEXACO CORPORATION Ticker: CVX Security ID: 166764100 Meeting Date: April 28, 2004 Meeting Type: Annual Record Date: March 1, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Shareholder rights plan For For Management 4 Adopt omnibus stock option plan For For Managment 5 Miscellaneous Against Against Shareholder 6 Political/government Against Against Shareholder 7 Board of Directors Against Against Shareholder 8 Miscellaneous Against Against Shareholder 9 Miscellaneous Against Against Shareholder -------------------------------------------------------------------------------- CITIGROUP INC. Ticker: C Security ID: 172967101 Meeting Date: April 20, 2004 Meeting Type: Annual Record Date: February 27, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Limit compensation Against Against Shareholder 4 Political/government Against Against Shareholder 5 Declassify board Against Against Shareholder 6 Board of Directors Against Against Shareholder -------------------------------------------------------------------------------- CONOCOPHILLIPS Ticker: COP Security ID: 20825C104 Meeting Date: May 5, 2004 Meeting Type: Annual Record Date: March 10, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Adopt omnibus stock option plan For For Management 4 Corporate governance Against Against Shareholder 5 Corporate governance Against Against Shareholder 6 Environmental Against Against Shareholder -------------------------------------------------------------------------------- CVS CORPORATION Ticker: CVS Security ID: 126650100 Meeting Date: May 12, 2004 Meeting Type: Annual Record Date: March 15, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend incentive stock option plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- DEAN FOODS COMPANY Ticker: DF Security ID: 242370104 Meeting Date: May 18, 2004 Meeting Type: Annual Record Date: March 26, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- DOMINION RESOURCES, INC. Ticker: D Security ID: 25746U109 Meeting Date: April 23, 2004 Meeting Type: Annual Record Date: February 27, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Reincorporate out of Delaware Against Against Shareholder -------------------------------------------------------------------------------- EMERSON ELECTRIC CO. Ticker: EMR Security ID: 291011104 Meeting Date: February 3, 2004 Meeting Type: Annual Record Date: November 24, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend incentive stock option plan For For Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- THE HARTFORD FINANCIAL SVCS GROUP Ticker: HIG Security ID: 416515104 Meeting Date: May 20, 2004 Meeting Type: Annual Record Date: March 22, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- HCA INC. Ticker: HCA Security ID: 404119109 Meeting Date: May 27, 2004 Meeting Type: Annual Record Date: April 1, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Amend stock purchase plan For For Management -------------------------------------------------------------------------------- HEALTH MANAGEMENT ASSOCIATES, INC. Ticker: HMA Security ID: 421933102 Meeting Date: February 17, 2004 Meeting Type: Annual Record Date: December 19, 2003 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management -------------------------------------------------------------------------------- HONEYWELL INTERNATIONAL INC. Ticker: HON Security ID: 438516106 Meeting Date: April 26, 2004 Meeting Type: Annual Record Date: February 27, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Board of Directors Against For Shareholder 4 Proxy process/statement Against For Shareholder 5 Put golden parachute to Against For Shareholder shareholder vote 6 Eliminate preemptive rights Against Against Shareholder 7 Adopt cumulative voting Against For Shareholder -------------------------------------------------------------------------------- INGERSOLL-RAND COMPANY LIMITED Ticker: IR Security ID: G4776G101 Meeting Date: June 2, 2004 Meeting Type: Annual Record Date: April 2, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend incentive stock option plan For For Management 3 Approve charter amendment For For Management 4 Ratify appointment of independent For For Management auditors 5 Board of Directors Against Against Shareholder 6 Reincorporate in other state Against Against Shareholder 7 Board of Directors Against Against Shareholder -------------------------------------------------------------------------------- ITT INDUSTRIES, INC. Ticker: ITT Security ID: 450911102 Meeting Date: May 11, 2004 Meeting Type: Annual Record Date: March 19, 2004 # Proposal Mgt Rec Vote Cast Sponsor B Ratify appointment of independent For For Management auditors A Election of Directors For For Management -------------------------------------------------------------------------------- KIMBERLY-CLARK CORPORATION Ticker: KMB Security ID: 494368103 Meeting Date: April 29, 2004 Meeting Type: Annual Record Date: March 1, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Amend omnibus stock option plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Miscellaneous Against For Shareholder -------------------------------------------------------------------------------- THE KROGER CO. Ticker: KR Security ID: 501044101 Meeting Date: June 24, 2004 Meeting Type: Annual Record Date: April 26, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Board of Directors Against Against Shareholder 4 Corporate governance Against Against Shareholder 5 Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- MASCO CORPORATION Ticker: MAS Security ID: 574599106 Meeting Date: May 11, 2004 Meeting Type: Annual Record Date: March 15, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For For Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- MBIA INC. Ticker: MBI Security ID: 55262C100 Meeting Date: May 6, 2004 Meeting Type: Annual Record Date: March 18, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- MERRILL LYNCH & CO., INC. Ticker: MER Security ID: 590188108 Meeting Date: April 23, 2004 Meeting Type: Annual Record Date: February 24, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Adopt cumulative voting Against Against Shareholder 4 Board of Directors Against Against Shareholder -------------------------------------------------------------------------------- MORGAN STANLEY Ticker: MWD Security ID: 617446448 Meeting Date: April 20, 2004 Meeting Type: Annual Record Date: February 20, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Report on employees earning over Against Against Shareholder $100,000 4 Put golden parachute to Against Against Shareholder shareholder vote 5 Miscellaneous Against Against Shareholder -------------------------------------------------------------------------------- NATIONAL CITY CORPORATION Ticker: NCC Security ID: 635405103 Meeting Date: April 27, 2004 Meeting Type: Annual Record Date: March 5, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For For Management 3 Adopt omnibus stock option plan For For Management 4 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- PARTNERRE LTD Ticker: PRE Security ID: G6852T105 Meeting Date: May 13, 2004 Meeting Type: Annual Record Date: March 19, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Fix number of Directors For For Management 3 Approve charter amendment For For Management 4 Amend incentive stock option plan For For Management to increase shares 5 Ratify appointment of independent For For Management auditors 6 Transact other business For For Management -------------------------------------------------------------------------------- PFIZER INC. Ticker: PFE Security ID: 717081103 Meeting Date: April 22, 2004 Meeting Type: Annual Record Date: February 27, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Adopt stock option plan For For Management 4 Health issues Against Against Shareholder 5 Political/government Against Against Shareholder 6 Political/government Against Against Shareholder 7 Board of Directors Against Against Shareholder 8 Miscellaneous Against Against Shareholder 9 Form shareholder advisory committee Against Against Shareholder 10 Health issues Against Against Shareholder -------------------------------------------------------------------------------- MASCO CORPORATION Ticker: MAS Security ID: 574599106 Meeting Date: May 11, 2004 Meeting Type: Annual Record Date: March 15, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt omnibus stock option plan For For Management 3 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- PUBLIC SERVICE ENTERPRISE GROUP INC. Ticker: PEG Security ID: 744573106 Meeting Date: April 20, 2004 Meeting Type: Annual Record Date: February 20, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Allow shareholders to nominate Against Against Shareholder directors -------------------------------------------------------------------------------- RIO TINTO PLC Ticker: RTP Security ID: 767204100 Meeting Date: April 7, 2004 Meeting Type: Annual Record Date: March 1, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Change stock exchange listing For For Management 2 Change stock exchange listing For For Management 3 Change stock exchange listing For For Management 4 Change stock exchange listing For Aginst Management 5 Change stock exchange listing For For Management 6 Change stock exchange listing For For Management 7 Change stock exchange listing For For Management 8 Change stock exchange listing For For Management 9 Change stock exchange listing For For Management 10 Change stock exchange listing For For Management 11 Change stock exchange listing For Against Management 12 Change stock exchange listing For For Management -------------------------------------------------------------------------------- SBC COMMUNICATIONS Ticker: SBC Security ID: 78387G103 Meeting Date: April 30, 2004 Meeting Type: Annual Record Date: March 2, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3A Miscellaneous Against Against Shareholder 3B Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- SEALED AIR CORPORATION Ticker: SEE Security ID: 81211K100 Meeting Date: May 5, 2004 Meeting Type: Annual Record Date: March 8, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors -------------------------------------------------------------------------------- TRIAD HOSPITALS, INC. Ticker: TRI Security ID: 89579K109 Meeting Date: May 25, 2004 Meeting Type: Annual Record Date: April 8, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Amend long term incentive plan For For Management -------------------------------------------------------------------------------- UNILEVER N.V. Ticker: UN Security ID: 904784709 Meeting Date: May 12, 2004 Meeting Type: Annual Record Date: March 24, 2004 # Proposal Mgt Rec Vote Cast Sponsor 2 Miscellaneous corporate governance For For Management 3 Approve previous board's actions For For Management 4 Articles of association For For Management 5,6 Election of Directors For For Management 7 Approve renumeration of Directors For For Management 8 Ratify appointment of independent For For Management auditors 9 Articles of association For For Management 10 Authorize Directors to repurchase For For Management shares 11 Articles of association For For Management -------------------------------------------------------------------------------- UNION PACIFIC CORPORATION Ticker: UNP Security ID: 907818108 Meeting Date: April 16, 2004 Meeting Type: Annual Record Date: February 6, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Adopt incentive stock option plan For For Management 3 Ratify appointment of independent For For Management auditors 4 Limit compensation Against Against Shareholder 5 Political/government Against Against Shareholder -------------------------------------------------------------------------------- U.S. BANCORP Ticker: USB Security ID: 902973106 Meeting Date: April 20, 2004 Meeting Type: Annual Record Date: February 26, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Corporate governance Against Against Shareholder 4 Corporate governance Against Against Shareholder 5 Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- VERIZON COMMUNICATIONS INC. Ticker: VZ Security ID: 92343V104 Meeting Date: April 28, 2004 Meeting Type: Annual Record Date: March 1, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Adopt cumulative voting Against For Shareholder 4 Limit compensation Against For Shareholder 5 Proxy process/statement Against Against Shareholder 6 Rescind or allow shareholder to Against For Shareholder ratify poison pill 7 Proxy process/statement Against Against Shareholder 8 Stock transfer agreement Against Against Shareholder 9 Miscellaneous compensation plans Against Against Shareholder 10 Proxy process/statement Against Against Shareholder 11 Proxy process/statement Against Against Shareholder -------------------------------------------------------------------------------- THE WALT DISNEY COMPANY Ticker: DIS Security ID: 254687106 Meeting Date: March 3, 2004 Meeting Type: Annual Record Date: January 16, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Human rights related Against Against Shareholder 4 Human rights related Against Against Shareholder 5 Business/investment Against Against Shareholder -------------------------------------------------------------------------------- WASHINGTON MUTUAL Ticker: WM Security ID: 939322103 Meeting Date: April 20, 2004 Meeting Type: Annual Record Date: February 27, 2004 # Proposal Mgt Rec Vote Cast Sponsor 1 Election of Directors For For Management 2 Ratify appointment of independent For For Management auditors 3 Corporate governance Against Against Shareholder -------------------------------------------------------------------------------- Viking Tax-Free Fund for Montana -------------------------------------------------------------------------------- The Viking Tax-Free Fund for Montana did not hold any portfolio securities With respect to which the Fund was entitled to vote during the period from July 1, 2003 through June 30, 2004. -------------------------------------------------------------------------------- Viking Tax-Free Fund for North Dakota -------------------------------------------------------------------------------- The Viking Tax-Free Fund for North Dakota did not hold any portfolio securities With respect to which the Fund was entitled to vote during the period from July 1, 2003 through June 30, 2004. -------------------------------------------------------------------------------- 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) Viking Mutual Funds ------------------------------------------------------------------- By (Signature and Title)* /s/ Douglas P. Miller, Vice President ------------------------------------------------------ Date August 17, 2004 ---------------------------------------------------------------------------