As filed with the Securities and Exchange Commission on August 29, 2007
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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, 2006 - June 30, 2007
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: AKAMAI TECHNOLOGIES, INC.
TICKER: AKAM
CUSIP: 00971T101
MEETING DATE: 5/15/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Ronald Graham For For Management
1.2 Elect Director F. Thomson Leighton For For Management
1.3 Elect Director Paul Sagan For For Management
1.4 Elect Director Naomi Seligman For For Management
2 Ratify Pricewaterhousecoopers Auditors. For For Management
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COMPANY: APPLE, INC.
TICKER: AAPL
CUSIP: 037833100
MEETING DATE: 5/10/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director William V. Campbell For For Management
1.2 Elect Director Millard S. Drexler For For Management
1.3 Elect Director Albert A. Gore, Jr. For For Management
1.4 Elect Director Steven P. Jobs For For Management
1.5 Elect Director Arthur D. Levinson For For Management
1.6 Elect Director Eric E. Schmidt For For Management
1.7 Elect Director Jerome B. York For For Management
2 To approve amendments to the Apple, Inc.
2003 Employee Stock Plan. For For Management
3 To approve amendments to the Apple, Inc.
Employee Stock Purchase Plan. For For Management
4 To approve amendments to the 1997
Director Stock Option Plan. For For Management
5 Ratify KPMG LLP as Auditors. For For Management
6 To consider a shareholder proposal
entitled "Option Dating Policy", if
properly presented at the meeting. Against Abstain Shareholder
7 To consider a shareholder proposal
entitled "Pay for Performance Standard",
if properly presented at the meeting. Against Against Shareholder
8 To consider a shareholder proposal
entitled "Environmental Report", if
properly presented at the meeting. Against Against Shareholder
9 To consider a shareholder proposal
entitled "Equity Retention Policy",
if properly presented at the meeting. Against Against Shareholder
10 To consider a shareholder proposal
entitled "Electronic Waste Take Back
and Recycling", if properly presented
at the meeting. Against Abstain Shareholder
11 To consider a shareholder proposal
entitled "Advisory Vote on Compensation",
if properly presented at the meeting. Against Against Shareholder
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COMPANY: BROADCOM CORP.
TICKER: BRCM
CUSIP: 111320107
MEETING DATE: 5/2/07
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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 an amendment and restatement
of Broadcom's 1998 Employee Stock
Purchase Plan, as previously amended and
restated, as more fully described in the
Proxy Statement. For For Management
3 To approve the Broadcom Corp. Executive
Officer Performance Bonus Plan under
which incentive bonuses, qualifying as
performance-based compensation within the
meaning of Section 162(M) of the Internal
Revenue Code of 1986, as amended, may be
provided to certain executive officers. For For Management
4 To Approve an amendment and restatement
of Broadcom's 1998 Stock Incentive Plan,
as previously amended and restated, as
more fully described in the Proxy
Statement. For For Management
5 Ratify Ernst & Young LLP as Auditors. For For Management
6 To consider a shareholder proposal, if
properly presented at the Annual Meeting. Against Against Shareholder
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COMPANY: CISCO SYSTEMS, INC.
TICKER: CSCO
CUSIP: 17275R102
MEETING DATE: 11/15/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Carol A. Bartz For For Management
1.2 Elect Director M. Michele Burns For For Management
1.3 Elect Director Michael D. Capellas For For Management
1.4 Elect Director Larry R. Carter For For Management
1.5 Elect Director John T. Chambers For For Management
1.6 Elect Director Dr. John L. Hennessy For For Management
1.7 Elect Director Richard M. Kovacevich For For Management
1.8 Elect Director Roderick C. McGeary For For Management
1.9 Elect Director Steven M. West For For Management
1.10 Elect Director Jerry Yang For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
3 Proposal submitted by a shareholder
urging the Board of Directors to adopt
a policy that a significant portion of
future equity compensation grants to
senior executives shall be shares of
stock that require the achievement of
performance goals as a prerequisite
to vesting, as set forth in the
accompanying Proxy Statement. Against Against Shareholder
4 Proposal submitted by shareholders
requesting the Board's Compensation
Committee initiate a review of Cisco's
executive compensation policies and
to make available, upon request, a
report of that review by January 1,
2007, as set forth in the accompany-
ing Proxy Statement. Against Against Shareholder
5 Proposal submitted by shareholders
requesting the Board to publish a
report to shareholders within six
months providing a summarized listing
and assessment of concrete steps Cisco
could reasonably take to reduce the
likelihood that its business practices
might enable or encourage the violation
of human rights, as set forth in the
accompanying Proxy Statement. Against Against Shareholder
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COMPANY: COGNIZANT TECHNOLOGY SOLUTIONS CORP.
TICKER: CTSH
CUSIP: 192446102
MEETING DATE: 6/7/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Lakshmi Narayanan For For Management
1.2 Elect Director John E. Klein For For Management
2 To approve the amendment to our
amended and restated 1999 Incentive
Compensation Plan. For For Management
3 Ratify Pricewaterhousecoopers Auditors. For For Management
4 To transact such other business as
may properly come before the meeting
or any adjournment or adjournments
thereof. For For Management
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COMPANY: DIVX, INC.
TICKER: DIVX
CUSIP: 2255413106
MEETING DATE: 6/4/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director R. Jordan Greenhall For For Management
1.2 Elect Director Christopher McGurk For For Management
2 Ratify Ernst & Young LLP as Auditors. For For Management
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COMPANY: EBAY, INC.
TICKER: EBAY
CUSIP: 278642103
MEETING DATE: 6/14/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Philippe Bourguignon For For Management
1.2 Elect Director Thomas J. Tierney For For Management
1.3 Elect Director Margaret C. Whitman For For Management
2 Approval of an amendment to our 1999
Global Equity Incentive Plan to further
satisfy the requirements of Section
162(M) of the Internal Revenue Code. For For Management
3 Approval of an amendment to our 1998
Employee Stock Purchase Plan to extend
the term of the Purchase Plan. For For Management
4 Ratify Pricewaterhousecoopers Auditors. For For Management
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COMPANY: E*TRADE FINANCIAL CORP.
TICKER: ETFC
CUSIP: 269246104
MEETING DATE: 5/23/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Ronald D. Fisher For For Management
1.2 Elect Director George A. Hayter For For Management
1.3 Elect Director R. Jarrett Lilien 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: 3/22/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Deborah L. Bevier For For Management
1.2 Elect Director Alan J. Higginson For For Management
1.3 Elect Director John McAdam For For Management
2 Proposal to approve an amendment to
2005 Equity Incentive Plan. For For Management
3 Ratify Pricewaterhousecoopers Auditors. For For Management
4 Shareholder proposal regarding executive
compensation. Against Against Shareholder
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COMPANY: GOOGLE, INC.
TICKER: GOOG
CUSIP: 38259P508
MEETING DATE: 5/10/07
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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 Paul S. Otellini For For Management
1.9 Elect Director K. Ram Shriram For For Management
1.10 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 thereunder by 4,500,000. For For Management
4 Approval of Google's Executive Bonus
Plan. For For Management
5 Stockholder proposal to request that
management institute policies to help
protect freedom of access to the
internet. For For Management
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COMPANY: MONSTER WORLDWIDE, INC.
TICKER: MNST
CUSIP: 611742107
MEETING DATE: 5/30/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Salvatore Iannuzzi For For Management
1.2 Elect Director Robert J. Chrenc For For Management
1.3 Elect Director George R. Eisele For For Management
1.4 Elect Director John Gaulding For For Management
1.5 Elect Director Michael Kaufman For For Management
1.6 Elect Director Ronald J. Kramer For For Management
1.7 Elect Director Philip R. Lochner, Jr. For For Management
1.8 Elect Director David A. Stein For For Management
2 Ratify BDO Seidman LLP as Auditors. For For Management
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COMPANY: M-SYSTEMS LTD.
TICKER: FLSH
CUSIP: M7061C100
MEETING DATE: 11/8/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1 Approval of the agreement and Plan of
Merger, dated as of July 30, 2006,
among M-Systems Ltd., Sandisk Corp.
and Project Desert Ltd. and approval
of the merger of Project Desert into
M-Systems under the provisions of the
Isreali Companies Law, so that M-Systems
will become a wholly owned subsidiary
of Sandisk. For For Management
2 Approval of the payment to Mr. Gurion
Meltzer, Chairman of the Board of
Directors of M-Systems since September
2006, of compensation in the amount of
$10,000 per month, in consideration for
his services as Chairman of the Board. For For Management
3 Approval of the payment to Mr. Yossi
Ben-Shalom, a member of the Board of
Directors of M-Systems who has been
providing consulting services to
M-Systems since October 2005, of compen-
sation in the amount of $12,500 per
month. For For Management
4 Approval of the grant to Mr. Yossi
Ben-Shalom, as additional compensation
for the consulting services provided by
him to M-Systems, of options to purchase
10,000 ordinary shares of M-Systems. For For Management
5 Approval of the payment to Ms. Zehava
Simon, a member of the Board of Directors
of M-Systems of compensation in the amount
of $30,000 for such services, all as more
fully described in the Proxy Statement. For For Management
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COMPANY: NETWORK APPLIANCE, INC.
TICKER: NTAP
CUSIP: 64120L104
MEETING DATE: 8/31/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Daniel J. Warmenhoven For For Management
1.2 Elect Director Donald T. Valentine For For Management
1.3 Elect Director Jeffry R. Allen For For Management
1.4 Elect Director Carol A. Bartz For For Management
1.5 Elect Director Alan L. Earhart For For Management
1.6 Elect Director Edward Kozel For For Management
1.7 Elect Director Mark Leslie For For Management
1.8 Elect Director Nicholas G. Moore For For Management
1.9 Elect Director George T. Shaheen For For Management
1.10 Elect Director Robert T. Wall For For Management
2 Approve the Company's amended 1999 Stock
Incentive Plan, which includes a proposed
increase of the maximum number of shares
of common stock that may be issued
thereunder by 10,900,000. For For Management
3 Approve the Company's amended 1999 plan
to increase Director compensation under
the Automatic Option Grant Program from
an option to purchase 15,000 shares to
an option to purchase 20,000 shares. For For Management
4 Approve a 1,600,000 share increase in
the maximum number of shares of common
stock authorized for issuance under the
Company's Employee Stock Purchase Plan. For For Management
5 Ratify Deloitte & Touche LLP as Auditors. For For Management
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COMPANY: RED HAT, INC.
TICKER: RHAT
CUSIP: 756577102
MEETING DATE: 8/17/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Dr. Steve Albrecht For For Management
1.2 Elect Director Dr. Marye Anne Fox For For Management
2 Ratify Pricewaterhousecoopers Auditors For For Management
3 To approve the Company's 2006 Performance
Compensation Plan. For For Management
4 To approve an amendment and restatement
of the Company's 2004 Long-term Incentive
Plan. For For Management
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COMPANY: SALESFORCE.COM, INC.
TICKER: CRM
CUSIP: 79466L302
MEETING DATE: 7/6/06
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Craig Ramsey For For Management
1.2 Elect Director Sanford R. Robertson For For Management
2 Ratify Ernst & Young LLP as Auditors. For For Management
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COMPANY: SANDISK CORP.
TICKER: SNDK
CUSIP: 80004C101
MEETING DATE: 5/24/07
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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 Ratify Ernst & Young as Auditors For For Management
3 To consider a stockholder proposal
regarding performance-vesting shares. Against Against Shareholder
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COMPANY: SIRF TECHNOLOGY HOLDINGS, INC.
TICKER: SIRF
CUSIP: 82967H101
MEETING DATE: 5/3/07
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Mgmt Vote
# Proposal Rec Cast Sponsor
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1.1 Elect Director Diosdado P. Banatao For For Management
1.2 Elect Director Michael L. Canning For For Management
1.3 Elect Director Kanwar Chadha For For Management
2 Ratify Ernst & Young as Auditors For For Management
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COMPANY: YAHOO! INC.
TICKER: YHOO
CUSIP: 984332106
MEETING DATE: 6/12/07
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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 Vyomesh Joshi For For Management
1.7 Elect Director Arthur H. Kern 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 Amendments to the Company's amended and
restated 1995 Stock Plan. For For Management
3 Amendment to the Company's amended and
restated 1996 Employee Stock Purchase
Plan. For For Management
4 Ratification of Appointment of Auditors. For For Management
5 Stockholder proposal regarding pay-for-
superior performance. Against Against Shareholder
6 Stockholder proposal regarding internet
censorship. Against Against Shareholder
7 Stockholder proposal regarding Board
Committee on human rights. Against Against Shareholder
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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 29, 2007
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