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 333-102850
Bertolet Capital Trust
(Exact name of registrant as specified in charter)
745 Fifth Avenue, Suite 2400
New York, NY 10151
(Address of principal executive offices)
(Zip code)
John E. Deysher
745 Fifth Ave., Suite 2400
New York, NY 10151
(Name and address of agent for service)
Registrant's
telephone number, including area code: (212) 605-7100
Date
of fiscal year end: December 31
Date
of reporting period: July 1, 2022 through June 30, 2023
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
(Sections 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
notes.
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. Section
3507.
ITEM
1. PROXY VOTING RECORD:
Disclose the following information for each matter relating to a
portfolio security considered at any shareholder meeting held during the period
covered by the report and with respect to which the registrant was entitled to
vote:
(a).
The name of the issuer of the portfolio security;
(b).
The exchange ticker symbol of the portfolio security;
(c).
The Council on Uniform Securities Identification Procedures
("CUSIP") number for the portfolio security;
(d).
The shareholder meeting date;
(e).
A brief identification of the matter voted on;
(f).
Whether the matter was proposed by the issuer or by a security
holder;
(g).
Whether the Registrant cast its vote on the matter;
(h).
How the Registrant cast its vote (e.g., for or against proposal,
or abstain; for or withhold regarding election of directors); and
(i).
Whether the Registrant cast its vote for or against
management.
|
Ticker Symbol:ALOT |
Cusip Number:04638F108 |
|
Meeting Date: 6/6/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
3 |
approve amended equity incentive plan |
|
For |
Issuer |
For |
With |
|
|
4 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
BARINGS PARTICIPATION INVESTORS |
|
Ticker Symbol:MPV |
Cusip Number:06761A103 |
|
Meeting Date: 5/18/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:BHE |
Cusip Number:08160H101 |
|
Meeting Date: 5/17/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
4 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:VTOL |
Cusip Number:11040G103 |
|
Meeting Date: 6/7/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
3 |
amend equity incentive plan |
|
For |
Issuer |
For |
With |
|
|
4 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:CODA |
Cusip Number:19188U206 |
|
Meeting Date: 9/22/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
Ticker Symbol:CSTI |
Cusip Number:22161J206 |
|
Meeting Date: 9/29/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:CULP |
Cusip Number:230215105 |
|
Meeting Date: 9/28/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
Ticker Symbol:DAKT |
Cusip Number:234264109 |
|
Meeting Date: 9/7/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
4 |
amend employee stock purchase plan |
|
Against |
Issuer |
For |
Against |
|
|
5 |
approve shareholder rights agreement |
|
Against |
Issuer |
For |
Against |
|
|
Ticker Symbol:ESP |
Cusip Number:296650104 |
|
Meeting Date: 12/2/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:ETD |
Cusip Number:297602104 |
|
Meeting Date: 11/9/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:FACO |
Cusip Number:318457108 |
|
Meeting Date: 5/2/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:FLXS |
Cusip Number:339382103 |
|
Meeting Date: 12/14/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
approve equity incentive plan |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:FRD |
Cusip Number:358435105 |
|
Meeting Date: 9/13/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:GTY |
Cusip Number:374297109 |
|
Meeting Date: 4/25/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
exec comp vote frequency- 1 yr |
|
For |
Issuer |
For |
With |
|
|
4 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:GTY |
Cusip Number:374297109 |
|
Meeting Date: 4/25/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
exec comp vote frequency- 1 yr |
|
For |
Issuer |
For |
With |
|
|
4 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:GHM |
Cusip Number:384556106 |
|
Meeting Date: 7/27/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
Against |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
Against |
Issuer |
For |
With |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
4 |
amend employee stock purchase plan |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:GIFI |
Cusip Number:402307102 |
|
Meeting Date: 5/18/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:HCSG |
Cusip Number:421906108 |
|
Meeting Date: 5/30/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
approved amended omnibus incentive plan |
|
For |
Issuer |
For |
With |
|
|
4 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
5 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:HTLD |
Cusip Number:422347104 |
|
Meeting Date: 5/11/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
4 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:HOFT |
Cusip Number:439038100 |
|
Meeting Date: 6/6/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
4 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:HOPE |
Cusip Number:43940T109 |
|
Meeting Date: 5/18/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:HURC |
Cusip Number:447324104 |
|
Meeting Date: 3/9/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
3 |
exec comp vote frequency- 1 yr |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:KE |
Cusip Number:49428J109 |
|
Meeting Date: 11/11/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:KEX |
Cusip Number:497266106 |
|
Meeting Date: 4/25/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
4 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:LYTS |
Cusip Number:50216C108 |
|
Meeting Date: 11/1/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
4 |
amend articles of incorporation |
|
For |
Issuer |
For |
With |
|
|
5 |
approve amended omnibus stock award plan |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:MLR |
Cusip Number:600551204 |
|
Meeting Date: 5/26/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
Split |
Issuer |
For |
With/Against |
|
|
2 |
approve non employee director stock plan |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
Ticker Symbol:OPBK |
Cusip Number:67109R109 |
|
Meeting Date: 6/22/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:PATR |
Cusip Number:70338W105 |
|
Meeting Date: 2/2/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
Ticker Symbol:PCB |
Cusip Number:6932M109 |
|
Meeting Date: 5/25/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
approve equity based comp plan |
|
For |
Issuer |
For |
With |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:PCH |
Cusip Number:737630103 |
|
Meeting Date: 5/1/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
4 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
5 |
approve amended certificate incorporation |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:POWL |
Cusip Number:739128106 |
|
Meeting Date: 2/15/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
exec comp vote frequency- 1 yr |
|
For |
Issuer |
For |
With |
|
|
4 |
approve amended equity incentive plan |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:PLPC |
Cusip Number:740444104 |
|
Meeting Date: 5/9/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
4 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:SMHI |
Cusip Number:78413P101 |
|
Meeting Date: 6/6/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
Against |
Issuer |
For |
Against |
|
|
3 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
4 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:SCVL |
Cusip Number:824889109 |
|
Meeting Date: 6/20/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
exec comp vote frequency- 1 yr |
|
For |
Issuer |
For |
With |
|
|
4 |
approve amended equity incentive plan |
|
For |
Issuer |
For |
With |
|
|
5 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:BKE |
Cusip Number:118440106 |
|
Meeting Date: 6/5/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
3 |
approve employee restricted stock plan |
|
For |
Issuer |
For |
With |
|
|
4 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
5 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:TPH |
Cusip Number:87265H109 |
|
Meeting Date: 4/19/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
Ticker Symbol:ULBI |
Cusip Number:903899102 |
|
Meeting Date: 7/20/2022 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
auditor approval |
|
For |
Issuer |
For |
With |
|
|
UNIVERSAL STAINLESS & ALLOY PRODS. |
|
Ticker Symbol:USAP |
Cusip Number:913837100 |
|
Meeting Date: 5/3/2023 |
|
Proposal # |
Proposal |
|
Vote |
Author |
MRV* |
vs. Mgmt |
|
|
1 |
director election |
|
For |
Issuer |
For |
With |
|
|
2 |
executive compensation |
|
For |
Issuer |
For |
With |
|
|
3 |
exec comp vote frequency- 1 yr. |
|
For |
Issuer |
For |
With |
|
|
4 |
auditor approval |
|
For |
Issuer |
For |
With |
|
* Management Recommended Vote
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.
Bertolet Capital Trust
By
John E. Deysher
*
John E. Deysher
President
Date: July 11, 2023
*Print the name and title of each signing officer under his or her
signature.