N-PX 1 npxdny2010.htm DNY FORM N-PX 2010 npxdny2010.htm

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-PX

ANNUAL REPORT OF PROXY VOTING RECORD OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number: 811-21200

THE DENALI FUND INC.
 (Exact name of registrant as specified in charter)

 2344 Spruce Street, Suite A, Boulder, CO 80302
(Address of principal executive offices) (Zip code)

Stephen C. Miller
2344 Spruce Street, Suite A, Boulder, CO 80302
(Name and address of agent for service)

Registrant’s Telephone Number, including Area Code: (303) 444-5483

Date of fiscal year end: October 31

Date of reporting period: July 1, 2009 – June 30, 2010


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.


 
 

 

Proxy Voting Record

For Period July 1, 2009 to June 30, 2010



Name of Issuer
Ticker Symbol
CUSIP
Shareholder Meeting Date
Record Date
Proposal Number
Description of Matter to be Voted On
Matter Proposed by Issuer or Holder
Vote Cast (Yes or Abstain)
Vote (For or Against)
For or Against Management
                     
TS & W/Claymore Tax Advt Auctn Mkt PDF-M7
TYWUS SERIES M
87280R207
7/20/2009
5/15/2009
1
Election of three (3) directors
Issuer
Yes
For
For
                     
Clough Global Opportunities FD-Common
GLO
18914E106
7/17/2009
5/18/2009
1
Election of two (2) directors
Issuer
Yes
For
For
                     
Blackrock Preferred & Equity Advantage
BTZ SERIES F
092508506
8/26/2009
6/26/2009
1
Election of four (4) directors
Issuer
Yes
For
For
                     
Procter & Gamble Company, The
PG
742718109
10/13/2009
8/14/2009
1
Election of thirteen (13) Directors
Issuer
Yes
For
For
         
2
Ratify Appointment of Independent Accounting Firm
Issuer
Yes
For
For
         
3
Amend the Company's Code of Regulations
Issuer
Abstain
Abstain
Abstain
         
4
Approve Proctor & Gamble 2009 Stock and Incentive Plan
Issuer
Yes
Against
Against
         
5
Cumulative Voting
Holder
Yes
Against
For
         
6
Advisory Vote on Executive Compensation
Holder
Yes
Against
For
                     
Advent Claymore Global Conv SEC & IN W7
AGC SERIES W
007639305
9/29/2009
8/24/2009
1
Election of two (2) Class III Trustees
Issuer
Yes
Against
Against
                     
Cohen & Steers Advantage Income Realty
RLF
19247W102
10/22/2009
7/30/2009
1
Approve Merger of Advantage Income realty Fund, Inc. with and into Quality Income Realty Fund, Inc.
Issuer
Yes
Against
Against
                     
Cohen & Steers Prem Inc Rlty-Com
RPF
19247V104
10/22/2009
7/30/2009
1
Approve Merger of Premium Income Realty Fund, Inc. with and into Quality Income Realty Fund, Inc. (RQI)
Issuer
Yes
Against
Against
                     
Cohen & Steers Quality Inc. Rlty-Common
RQI
19247L106
10/22/2009
7/30/2009
1a
Approve Merger of Advantage Income Realty Fund, Inc. (RLF) with and into Quality Income Realty Fund, Inc. (RQI)
Issuer
Yes
Against
Against
         
1b
Merger of Premium Income Realty Fund, Inc. (RPF) with and into Quality Income Realty Fund, Inc.
Issuer
Yes
Against
Against
         
1c
To Approve, the Merger of Worldwide Realty Income Fund, Inc. (RWF) with and into Quality Income Realty Fund, Inc. (RQI)
Issuer
Yes
Against
Against
         
2
Approve an amendment to RQI's Charter to Increase the Number of authorized Shares of RQI's Capital Stock
Issuer
Yes
Against
Against
         
3a
Approve the Fundamental Policy changes for RQI: Changing from Fundamental to Non-fundamental the Fund's Investment Restriction Prohibiting Fund from Investing more than 10% of its Managed Assets in Debt Securities Issued or Guaranteed by Real Estate Companies.
Issuer
Yes
Against
Against
         
3b
Approve the Fundamental Policy changes for RQI: Changing from Fundamental to Non-fundamental the Fund's Investment Restriction Prohibiting Fund from Investing more than 20% of its Managed Assets in Preferred Stock or Debt Securities,.
Issuer
Yes
Against
Against
         
3c
Approve the Fundamental Policy changes for RQI, all as More Fully Described in the Proxy Statement
Issuer
Yes
Against
Against
                     
Cohen & Steers REIT & Utility Fund
RTU
19247Y108
10/22/2009
7/30/2009
1
Approve merger of REIT and Utility Income Fund, Inc. with Select Utility Fund, Inc.
Issuer
Yes
Against
Against
                     
Cohen & Steers Select Utility Fund
UTF
19248A109
10/22/2009
7/30/2009
1
Approve merger of REIT and Utility Income Fund, Inc. with Select Utility Fund, Inc.
Issuer
Yes
Against
Against
         
2
Approve amendment to UTF's charter to increase the number of authorized shares of UTF's capital stock
Issuer
Yes
Against
Against
         
3
Approve changing UTF's Investment Objective
Issuer
Yes
Against
Against
                     
Cohen & Steers Worldwide Realty Inc.
RWF
19248J100
10/22/2009
7/30/2009
1
Approve merger of Worldwide Realty Income Fund, Inc. with Quality Income Realty Fund, Inc.
Issuer
Yes
Against
Against
                     
Dreyfus Treas & Agncy Cash Mgmt-Inst SH
DTRXX
261908107
11/16/2009
9/4/2009
1A
Approve changes to fundamental policies & investment restrictions re: borrowing
Issuer
Yes
For
For
         
1B
Approve changes to fundamental policies & investment restrictions re: lending
Issuer
Yes
For
For
         
2B
Approve changes to fundamental policies & investment restrictions, permit investment in other investment companies
Issuer
Yes
For
For
                     
Advent Claymore Global Conv Sec & In W7
AGC SERIES W
007639305
1/12/2010
11/13/2009
1
Approve new advisory agreement
Issuer
Abstain
Abstain
Abstain
                     
Berkshire Hathaway Inc. Class A
BRK/A
084670108
1/20/2010
11/30/2009
1
Amend Certificate of Incorporation
Issuer
Yes
For
For
         
2
Class B 50-for a Split
Issuer
Yes
For
For
         
3
Change par value of each share of class B common stock
Issuer
Yes
For
For
         
4
Increase B common stock
Issuer
Yes
For
For
         
5
Remove requirement to issue physical stock certificates
Issuer
Yes
For
For
                     
TS&W/Claymore Tax Advt Auction Market PDF-M7
TYWUS SERIES M
87280R207
1/12/2010
11/13/2009
1
New investment advisory agreement between the fund and Claymore Advisors, LLC
Issuer
Abstain
Abstain
Abstain
         
2a
Approve new investment sub-advisory among the fund, Claymore Advisors and Thompson, Siegel & Walmsley, LLC
Issuer
Abstain
Abstain
Abstain
         
2b
Approve new investment sub-advisory among the fund, Claymore Advisors and SMC Fixed Income Management, LP
Issuer
Abstain
Abstain
Abstain
                     
F&C/Claymore Total Return Fund - Common
FLC
338479108
4/22/2010
1/22/2010
1
Election of two (2) directors
Issuer
Yes
For
For
                     
PIMCO Corporate Opportunity FD-Pref W
PTY SERIES W
72201B408
4/14/2010
2/18/2010
1
Election of four (4) directors
Issuer
Yes
For
For
                     
Johnson & Johnson
JNJ
478160104
4/22/2010
2/23/2010
1
Election of ten (10) directors
Issuer
Yes
For
For
         
2
PWC LLP as accountants
Issuer
Yes
For
For
         
3
Executive Compensation
Holder
Yes
Against
For
         
4
Special shareholder meetings
Holder
Yes
For
Against
                     
Pfizer, Inc.
PFE
717081103
4/22/2010
2/23/2010
1
Election of fifteen (15) directors
Issuer
Yes
For
For
         
2
Ratify KPMG as accountants
Issuer
Yes
For
For
         
3
Executive Compensation
Issuer
Yes
For
For
         
4
Reduce percentage of share required for shareholders to call special meetings
Issuer
Yes
For
For
         
5
Stock options
Holder
Yes
Against
For
                     
Berkshire Hathaway Inc. A
BRK/A
084670108
5/1/2010
3/3/2010
1
Election of twelve (12) directors
Issuer
Yes
For
For
                     
Glaxosmithkline PLC
GSK
37733W105
5/6/2010
3/9/2010
1
Receive and Adopt Director's Report and Financial Statements
Issuer
Yes
For
For
         
2
Approve remuneration Report
Issuer
Yes
For
For
         
3
Elect Dr. S. Burns as Director
Issuer
Yes
For
For
         
4
Elect Mr. J. Heslop as Director
Issuer
Yes
For
For
         
5
Elect Sir D. Maughan as director
Issuer
Yes
For
For
         
6
Elect Dr. D. Podolsky as Director
Issuer
Yes
For
For
         
7
Elect Sir R. Wilson as Director
Issuer
Yes
For
For
         
8
Re-appoint Auditors
Issuer
Yes
For
For
         
9
Remuneration of Auditors
Issuer
Yes
For
For
         
10
Approve political Donations
Issuer
Yes
Against
Against
         
11
Authority to allot shares
Issuer
Yes
For
For
         
12
Disapplication of pre-emption rights
Issuer
Yes
Against
Against
         
13
Authority for company to purchase its own shares
Issuer
Yes
For
For
         
14
Exemption from statement of senior statutory Auditor's name
Issuer
Yes
For
For
         
15
Reduce notice of general meeting other than an AGM
Issuer
Yes
For
For
         
16
Adopt new Articles of Association
Issuer
Yes
For
For
                     
Ventas, Inc.
VTR
92276F100
4/30/2010
3/8/2010
1
Election of eight (8) directors
Issuer
Yes
For
For
         
2
Ernst and Young LLP as accounting firm
Issuer
Yes
For
For
         
3
Majority vote standard for election of directors
Holder
Yes
For
Against
                     
3M Company
MMM
88579Y101
5/11/2010
3/12/2010
1
Election of ten (10) directors
Issuer
Yes
For
For
         
2
PWC LLP as accountants
Issuer
Yes
For
For
         
3
Approve expanded performance criteria under the long-term incentive plan
Issuer
Yes
Against
Against
         
4
Special meetings
Holder
Yes
For
Against
                     
Gabelli Dividend & Income Trust-PFD C
GDV SERIES TH
36242H401
5/17/2010
3/15/2010
1
Election of three (3) directors
Issuer
Yes
For
For
                     
Cohen & Steers Infrastructure Fund
UTF
19248A109
5/13/2010
3/19/2010
1
Election of three (3) directors
Issuer
Yes
For
For
                     
Cohen & Steers Quality Inc Rlty-Common
RQI
19247L106
5/13/2010
3/19/2010
1
Election of three (3) directors
Issuer
Yes
For
For
                     
Western Asset Premier Bond Fund-SER
WEA SERIES M
957664204
5/18/2010
3/26/2010
1
Election of seven (7) directors
Issuer
Yes
For
For
                     
LTC Properties, Inc.
LTC
502175102
5/27/2010
4/15/2010
1
Election of six (6) directors
Issuer
Yes
For
For
         
2
Ratify auditors
Issuer
Yes
For
For
                     
ING Clarion Global Real Estate Inc-Com
IGR
44982G104
11/10/2009
9/22/2009
1
Election of two (2) directors
Issuer
Yes
For
For
                     
Neuberger Berman R/E SEC Income-PDF A
NRO SERIES M
64190A202
6/1/2010
4/1/2010
1
Election of five (5) directors
Issuer
Did Not Vote
N/A
N/A
                     
                     

 

 
 

 


SIGNATURE

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 Denali Fund Inc.
   
By:
/s/ Stephen C. Miller
 
Stephen C. Miller
 
President (Principal Executive Officer)
   
Date:
August 31, 2010