Form N-PX

N-PX 1 d405155dnpx.htm FORM N-PX Form N-PX

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 No. 811-04262

AMERICAN PENSION INVESTORS TRUST

(Exact Name of Registrant as Specified in Charter)

2303 Yorktown Avenue, Lynchburg, Virginia 24501

(Address of Principal Executive Offices)

Registrant’s telephone number, including area code: (434) 846-1361

Copies to:

David D. Basten, President

American Pension Investors Trust

2303 Yorktown Avenue

Lynchburg, Virginia 24501

(Name and Address of Agent for Service)

W. Lee H. Dunham, Esq.

Sullivan & Worcester LLP

One Post Office Square

Boston, MA 02109

Date of fiscal year end: January 31, 2012

Date of Reporting Period: Twelve-month period ended June 30, 2012

Item 1.

Proxy Voting Record.

API Trust

Capital Income Fund

Proxy Voting Record

July 1, 2011 - June 30, 2012

Issuer

Ticker

CUSIP

Meeting

Date

Matter Voted On

Proposed By

Vote

Cast

Vote

For or

Against

Mgt.

National Grid Plc

NGG

636274-300

07/25/11

Receive Accounts and

Reports

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Disapplication of Pre-Emption Rights

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares at Market

Issuer

Yes

For

For

Reduce the Notice Period for General Meetings

Issuer

Yes

For

For

Reapprove the Share Incentive Plan

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Sharesave Plan

Issuer

Yes

For

For

Long-Term Performance Plan

Issuer

Yes

For

For

Apollo Investment Corporation

AINV

03761U106

08/02/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Microchip Technology Incorporated

MCHP

595017104

08/19/11

Directors

Issuer

Yes

For

For

Amend Executive Management Incentive Compensation Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

SeaDrill Limited

SDRL

G7945E105

09/23/11

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

ConAgra Foods, Inc.

CAG

205887102

09/23/11

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

General Mills, Inc.

GIS

370334-104

09/26/11

Directors

Issuer

Yes

For

For

Approve Stock Compensation Plan

Issuer

Yes

For

For

Approve Non-Employee Director Compensation Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Diageo Plc

DEO

25243Q-205

10/19/11

Approve Company’s Annual Accounts

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Declaration of Final Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Disapplication of Pre-Emption Rights

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares at Market

Issuer

Yes

For

For

Authority to Make Political Donations and/or to Incur Political Expenditure in the EU

Issuer

Yes

For

For

Reduce the Notice Period for General Meetings

Issuer

Yes

For

For

Linear Technology Corporation

LLTC

535678106

11/02/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Sysco Corporation

SYY

871829107

11/16/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Amend Bylaws to Implement a Staggered Declassification of the Board of Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Broadridge Financial Solutions, Inc.

BR

11133T103

11/16/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Cresud S.A.C.I.F. y A.

CRESY

226406-106

10/31/11

Appoint 2 Shareholders to Sign Meeting Minutes

Issuer

Yes

For

For

Consideration of Documentation

Issuer

Yes

For

For

Consider Performance of Board of Directors

Issuer

Yes

For

For

Consider Performance of Supervisory Committee

Issuer

Yes

For

For

Consideration of the Profit for the Fiscal Year

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Consider Remuneration to Supervisory Committee

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appoint Members of the Supervisory Committee

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Update of the Shared Services Agreement Report

Issuer

Yes

For

For

Determination of the Allocation of Treasury Shares

Issuer

Yes

For

For

Treatment of Amounts Paid as Tax on Personal Assets of the Shareholders

Issuer

Yes

For

For

Consider Increase in Amount of Global Note Program

Issuer

Yes

For

For

Consider AGSA Special Merger Balance Sheet

Issuer

Yes

For

For

Renewal for Further Period of the Delegations Made

Issuer

Yes

For

For

Monsanto Company

MON

61166W101

01/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2005 Long-Term Incentive Plan

Issuer

Yes

For

For

Proposal re: Report on Certain Matters Related to GMO Products

Sholder

Yes

Against

For

The Laclede Group, Inc.

LG

505597104

01/26/12

Directors

Issuer

Yes

For

For

Approve Amended 2006 Equity Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

Deere & Company

DE

244199-105

02/29/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Non-Employee Director Stock Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

TE Connectivity Ltd.

TEL

H84989-104

03/07/12

Directors

Issuer

Yes

For

For

Approve Company’s Annual Accounts

Issuer

Yes

For

For

Approve the Financial Statements

Issuer

Yes

For

For

Approve Consolidated Financial Statements

Issuer

Yes

For

For

Release all of the Members of the Board of Directors and of the Executive Officers

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Swiss Auditor

Issuer

Yes

For

For

Special Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended Stock Incentive Plan

Issuer

Yes

For

For

Capital Reduction (by Cancellation of Shares)

Issuer

Yes

For

For

Authority Relating to Share Repurchase Program

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Reallocation of all Free Reserves

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

The Toronto-Dominion Bank

TD

891160509

03/29/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Accept the Approach to Executive Compensation Disclosed in the Management Proxy Circular

Issuer

Yes

For

For

First Amendment to the 2000 Stock Incentive Plan

Issuer

Yes

For

For

Second Amendment to the 2000 Stock Incentive Plan

Issuer

Yes

For

For

Shareholder Proposal A

Sholder

Yes

Against

For

Shareholder Proposal B

Sholder

Yes

Against

For

Shareholder Proposal C

Sholder

Yes

Against

For

TIM Participacoes SA

TSU

88706P205

04/11/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Proposed Company’s Capital Budget

Issuer

Yes

For

For

Resolve Proposed Compensation to Managers for 2012

Issuer

Yes

For

For

Composition of Audit Committee & their Compensation

Issuer

Yes

For

For

Extension of the Cooperation and Support Agreement

Issuer

Yes

For

For

Celebrate Agreement of Stipulation & Sale Insurance

Issuer

Yes

For

For

Amend Section 5 of the Company’s Bylaws

Issuer

Yes

For

For

Eli Lilly and Company

LLY

532457108

04/16/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Articles of Incorporation to Provide for Annual Election of all Directors

Issuer

Yes

For

For

Amend Articles of Incorporation to Eliminate Supermajority Shareholder Voting Requirements

Issuer

Yes

For

For

Proposal re: Establish a Majority Vote Committee

Sholder

Yes

Against

For

Proposal re: Animal Research

Sholder

Yes

Against

For

Speedway Motorsports, Inc.

TRK

847788106

04/17/12

Directors

Issuer

Yes

For

For

Approve 2008 Formula Restricted Stock Plan

Issuer

Yes

For

For

Approve Incentive Compensation Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

M&T Bank Corporation

MTB

55261F104

04/17/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Citigroup Inc.

C

172967424

04/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Amended Stock Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Prior Governmental Service of Individuals

Sholder

Yes

Against

For

Proposal re: Request Report on Political Contributions

Sholder

Yes

Against

For

Proposal re: Executive Stock Retention After Leaving

Sholder

Yes

Against

For

Proposal re: Have Audit Committee Report on Controls Related to Loans, Foreclosures, and Securitizations

Sholder

Yes

Against

For

Sonoco Products Company

SON

835495102

04/18/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Long-Term Incentive Plan

Issuer

Yes

For

For

Northwest Bancshares, Inc.

NWBI

667340103

04/18/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Valley National Bancorp

VLY

919794107

04/18/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

PPG Industries, Inc.

PPG

693506107

04/19/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Articles of Incorporation to Provide for Annual Election of all Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Honeywell International Inc.

HON

438516106

04/23/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Fortune Brands Home & Security, Inc.

FBHS

34964C106

04/23/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Beam Inc.

BEAM

073730103

04/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Employee Stock Purchase Plan

Issuer

Yes

For

For

Approve Executive Incentive Compensation Plan

Issuer

Yes

For

For

VF Corporation

VFC

918204108

04/24/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Board Declassification

Sholder

Yes

Against

For

CIGNA Corporation

CI

125509109

04/25/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Executive Incentive Compensation Plan

Issuer

Yes

For

For

Amend Bylaws to Declassify Board of Directors

Issuer

Yes

For

For

The Coca-Cola Company

KO

191216100

04/25/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Cenovus Energy Inc.

CVE

15135U109

04/25/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Confirm the Shareholder Rights Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal from a Shareholder

Sholder

Yes

Against

For

The McGraw-Hill Companies, Inc.

MHP

580645109

04/25/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

ABB Ltd

ABB

000375204

04/26/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Lockheed Martin Corporation

LMT

539830109

04/26/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

TransAlta Corporation

TAC

89346D107

04/26/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Empresa Nacional de Electricidad S.A.

EOC

29244T101

04/26/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Investment and Financing Policy

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Compensation for Directors’ Committee and Budget

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Election of Two Account Inspectors

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

AstraZeneca PLC

AZN

046353108

04/26/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Authorise Limited EU Political Donations

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

New SAYE Scheme

Issuer

Yes

For

For

Disapplication of Pre-Emption Rights

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares at Market

Issuer

Yes

For

For

Reduce the Notice Period for General Meetings

Issuer

Yes

For

For

TransCanada Corporation

TRP

89353D107

04/27/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Accept the Approach to Executive Compensation Disclosed in the Management Proxy Circular

Issuer

Yes

For

For

AT&T Inc.

T

00206R102

04/27/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amendment to Certificate of Incorporation

Issuer

Yes

For

For

Proposal re: Request Report on Political Contributions

Sholder

Yes

Against

For

Proposal re: Limit Wireless Network Management

Sholder

Yes

Against

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Cleco Corporation

CNL

12561W105

04/27/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Request a Sustainability Report

Sholder

Yes

Against

For

Eni S.P.A.

E

26874R108

04/30/12

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Amend Articles 17, 28, & Add 34 of Company Bylaws

Issuer

Yes

For

For

AGL Resources Inc.

GAS

001204106

05/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Bristol-Myers Squibb Company

BMY

110122-108

05/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Stock Incentive Plan

Issuer

Yes

For

For

Proposal re: Cumulative Voting

Sholder

Yes

Against

For

Proposal re: Animal Research

Sholder

Yes

Against

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Colony Financial Inc

CLNY

19264R106

05/02/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

DTE Energy Company

DTE

233331107

05/03/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amendments to the Long-Term Incentive Plan

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Proposal re: Greenhouse Gas Emissions

Sholder

Yes

Against

For

Aviva Plc

AV

05382A-104

05/03/12

Receive Accounts and Reports

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Corporate Responsibility Report

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Authorise Non-Premptive Share Allotments

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares at Market

Issuer

Yes

For

For

Authority to Make Political Donations

Issuer

Yes

For

For

Reduce the Notice Period for General Meetings

Issuer

Yes

For

For

Approve Amendment to Articles of Association

Issuer

Yes

For

For

SCANA Corporation

SCG

80589M102

05/03/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Board Declassification

Sholder

Yes

Against

For

Eastman Chemical Company

EMN

277432100

05/03/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Omnibus Stock Compensation Plan

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Amend Certificate of Incorporation to Eliminate Supermajority Shareholder Voting Requirements

Issuer

Yes

For

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Reynolds American Inc.

RAI

761713106

05/03/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Articles of Incorporation to Adopt Majority Voting Standards

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Proposal re: Creation of an Ethics Committee

Sholder

Yes

Against

For

Allied World Assurance Co

AWH

H01531-104

05/03/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Omnibus Incentive Plan

Issuer

Yes

For

For

Share Repurchase Program

Issuer

Yes

For

For

Approve Reclassification Used in Financial Statements

Issuer

Yes

For

For

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Retention of Disposable Profits

Issuer

Yes

For

For

Capital Reduction (by Cancellation of Shares)

Issuer

Yes

For

For

Eliminate the Conditional Share Capital

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Special Auditor

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

BCE Inc.

BCE

05534B-760

05/03/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Stock Options and Performance of Executive Officers

Sholder

Yes

Against

For

Proposal re: Performance-Based Compensation

Sholder

Yes

Against

For

Proposal re: Fee of Compensation Advisors Disclosure

Sholder

Yes

Against

For

Proposal re: Risk Management Committee

Sholder

Yes

Against

For

Kimberly-Clark Corporation

KMB

494368103

05/03/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Sanofi

SNY

80105N-105

05/04/12

Approve the Financial Statements

Issuer

Yes

For

For

Approve Consolidated Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Deputy Statutory Auditor

Issuer

Yes

For

For

Transfer of the Registered Office

Issuer

Yes

For

For

Authorize Directors to Trade in Company’s Own Stock

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Powers for Formalities

Issuer

Yes

For

For

Baxter International Inc.

BAX

071813109

05/08/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Board Declassification

Issuer

Yes

For

For

Proposal re: Majority Voting

Issuer

Yes

For

For

HNI Corporation

HNI

404251100

05/08/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

ArcelorMittal

MT

03938L-104

05/08/12

Approve Consolidated Financial Statements

Issuer

Yes

For

For

Approve Company’s Annual Accounts

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Grants Under Restricted Share Unit Plan

Issuer

Yes

For

For

Grants Under Performance Share Unit Plan

Issuer

Yes

For

For

Authorize Board to Increase Share Capital by Various Means

Issuer

Yes

For

For

Approve Amendment to Articles of Association

Issuer

Yes

For

For

Amend Article 14.1 of the Articles of Association

Issuer

Yes

For

For

CommonWealth REIT

CWH

203233101

05/08/12

Directors

Issuer

Yes

For

For

Approve the Equity Compensation Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

National Health Investors, Inc.

NHI

63633D104

05/10/12

Directors

Issuer

Yes

For

For

Amend Articles to Increase Authorized Share Capital

Issuer

Yes

For

For

Approve 2012 Stock Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Norfolk Southern Corporation

NSC

655844108

05/10/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

The Dow Chemical Company

DOW

260543-103

05/10/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Stock Incentive Plan

Issuer

Yes

For

For

Approve 2012 Employee Stock Purchase Plan

Issuer

Yes

For

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

OceanFirst Financial Corp.

OCFC

675234108

05/10/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Colgate-Palmolive Company

CL

194162103

05/11/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Total S.A.

TOT

89151E-109

05/11/12

Approve Parent Company Financial Statements

Issuer

Yes

For

For

Approve Consolidated Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Authorize Directors to Trade in Company’s Own Stock

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Commitments Under French Commercial Code

Issuer

Yes

For

For

Authorize Board to Increase Share Capital by Various Means

Issuer

Yes

For

For

Capital Reduction (by Cancellation of Shares)

Issuer

Yes

For

For

Proposal re: Loyalty Dividend

Sholder

Yes

Against

For

JPMorgan Chase & Co.

JPM

46625H-100

05/15/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Political Non-Partisanship

Sholder

Yes

Against

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Mortgage Servicing Operations

Sholder

Yes

Against

For

Proposal re: Request Report on Political Contributions

Sholder

Yes

Against

For

Proposal re: Genocide-Free Investing

Sholder

Yes

Against

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Proposal re: Equity Retention

Sholder

Yes

Against

For

Flushing Financial Corporation

FFIC

343873105

05/15/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Statoil ASA

STO

85771P-102

05/15/12

Election of Chair of the Meeting

Issuer

Yes

For

For

Approve the Notice and the Agenda

Issuer

Yes

For

For

Elect 2 Persons to Sign Meeting Minutes with Chair

Issuer

Yes

For

For

Approve the Annual Report and Accounts Including Distribution of the Dividend

Issuer

Yes

For

For

Proposal from a Shareholder

Sholder

Yes

Against

For

Salary & Remuneration for Executive Management

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Corporate Assembly Remuneration

Issuer

Yes

For

For

Nomination Committee Members

Issuer

Yes

For

For

Nomination Committee Remuneration

Issuer

Yes

For

For

Authorisation to Acquire Shares to Implement the Share Saving Plan for Employees

Issuer

Yes

For

For

Authorisation to Acquire Shares for Later Annulment

Issuer

Yes

For

For

Pinnacle West Capital Corporation

PNW

723484101

05/16/12

Directors

Issuer

Yes

For

For

Approve 2012 Long-Term Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Altria Group, Inc.

MO

02209S-103

05/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Lobbying Policies and Practices

Sholder

Yes

Against

For

Extra Space Storage Inc.

EXR

30225T102

05/22/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Merck & Co., Inc.

MRK

58933Y-106

05/22/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Proposal re: Special Shareowner Meetings

Sholder

Yes

Against

For

Proposal re: Request Report on Political Contributions

Sholder

Yes

Against

For

Omnicom Group Inc.

OMC

681919-106

05/22/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Change Vote Required for Shareholders to Call Special Shareholder Meetings

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Annual Disclosure of EEO-1 Data

Sholder

Yes

Against

For

Horace Mann Educators Corporation

HMN

440327104

05/23/12

Directors

Issuer

Yes

For

For

Approve Executive Incentive Compensation Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

McDonald’s Corporation

MCD

580135-101

05/24/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Omnibus Stock Ownership Plan

Issuer

Yes

For

For

Declassification of the Board of Directors

Issuer

Yes

For

For

Shareholders’ Right to Call Special Meetings

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Proposal re: Request for a Nutrition Report

Sholder

Yes

Against

For

BlackRock, Inc.

BLK

09247X101

05/24/12

Directors

Issuer

Yes

For

For

Amend Certificate of Incorporation to Declassify Board

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

The Goldman Sachs Group, Inc.

GS

38141G-104

05/24/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Cumulative Voting

Sholder

Yes

Against

For

Proposal re: Executive Compensation Report

Sholder

Yes

Against

For

Proposal re: Lobbying Policies and Practices

Sholder

Yes

Against

For

Chevron Corporation

CVX

166764-100

05/30/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Exclusive Forum Provisions

Sholder

Yes

Against

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Lobbying Policies and Practices

Sholder

Yes

Against

For

Proposal re: Country Selection Guidelines

Sholder

Yes

Against

For

Proposal re: Hydraulic Fracturing

Sholder

Yes

Against

For

Proposal re: Accident Risk Mitigation

Sholder

Yes

Against

For

Proposal re: Special Shareowner Meetings

Sholder

Yes

Against

For

Proposal re: Independent Director with Environmental Expertise

Sholder

Yes

Against

For

Ares Capital Corporation

ARCC

04010L103

06/04/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Caterpillar Inc.

CAT

149123101

06/13/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate of Incorporation to Permit Shareholders to Call Special Meetings

Issuer

Yes

For

For

Amend Bylaws Advance Notice Provisions

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Proposal re: Majority Voting in Director Elections

Sholder

Yes

Against

For

Proposal re: Review Global Corporate Standards

Sholder

Yes

Against

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Nippon Telegraph & Telephone Corporation

NTT

654624-106

06/22/12

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Election of 2 Corporate Auditors

Issuer

Yes

For

For

Ennis, Inc.

EBF

293389102

06/28/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

API Trust

Growth Fund

Proxy Voting Record

July 1, 2011- June 30, 2012

Issuer

Ticker

CUSIP

Meeting
Date

Matter Voted On

Proposed By

Vote
Cast

Vote

For or
Against
Mgt.

Ventas, Inc.

VTR

92276F100

07/01/11

Approve Issuance of Shares Contemplated by Merger

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

Dell Inc.

DELL

24702R101

07/15/11

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Proposal re: Declaration of Dividend

Sholder

Yes

Against

For

ICON Plc

ICLR

45103T107

07/18/11

Receive Accounts and Reports

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Disapplication of Pre-Emption Rights

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares at Market

Issuer

Yes

For

For

BE Aerospace, Inc.

BEAV

073302101

07/26/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Triumph Group, Inc.

TGI

896818101

07/27/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Alere Inc.

ALR

01449J105

07/28/11

Directors

Issuer

Yes

For

For

Approve Increase in Shares Issuable Under the 2010

Stock Option and Incentive Plan

Issuer

Yes

For

For

Approve Increase in Shares Issuable Under the 2001 Employee Stock Purchase Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

Biglari Holdings Inc.

BH

08986R101

08/05/11

Amend Articles to Increase Authorized Share Capital

Issuer

Yes

For

For

Precision Castparts Corp.

PCP

740189105

08/16/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Quality Systems, Inc.

QSII

747582104

08/11/11

Directors

Issuer

Yes

For

For

Approve Amended Stock Option and Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Oracle Corporation

ORCL

68389X105

10/12/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder

Approval of Compensation of Executives

Issuer

Yes

3YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Equity Retention

Sholder

Yes

Against

For

Infosys Technologies Limited

INFY

456788108

10/18/11

Ordinary Resolution to Revoke Resolution Passed by the Shareholders at the Annual General Meeting

Issuer

Yes

For

For

Approve Restricted Stock Units Plan (“RSU Plan”) and Grant Restricted Stock Units (“RSUS”) to “Eligible Employees” of the Company

Issuer

Yes

For

For

Approve Grant of RSUS Under the RSU Plan to “Eligible Employees” of the Subsidiary Companies

Issuer

Yes

For

For

Harris Corporation

HRS

413875105

10/28/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder

Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

BHP Billiton Limited

BHP

088606-108

11/17/11

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Renew General Authority to Issue Shares in BHP Billiton Plc

Issuer

Yes

For

For

Approve Authority to Issue Shares in BHP Billiton Plc for Cash

Issuer

Yes

For

For

Approve Repurchase of Shares in BHP Billiton Plc

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Approve Termination Benefits for Group Management Committee Members

Issuer

Yes

For

For

Approve the Grant of Awards to Mr Marius Kloppers Under the GIS and the LTIP

Issuer

Yes

For

For

Towers Watson & Co

TW

891894107

11/11/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

MICROS Systems, Inc.

MCRS

594901100

11/18/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Amend 1991 Stock Option Plan to Authorize the Issuance of 1,200,000 Additional Common Shares

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder

Approval of Compensation of Executives

Issuer

Yes

1YR

For

Nalco Holding Company

NLC

62985Q101

11/30/11

Approve Agreement and Plan of Merger

Issuer

Yes

For

For

Approve Proposal Regarding Certain Merger-Related Executive Compensation Arrangements

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

PAREXEL International

PRXL

699462107

12/08/11

Directors

Issuer

Yes

For

For

Corporation

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

FactSet Research Systems

FDS

303075105

12/13/11

Directors

Issuer

Yes

For

For

Inc.

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Copart, Inc.

CPRT

217204106

12/14/11

Directors

Issuer

Yes

For

For

Approve Change in Company’s State of Incorporation from California to Delaware

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Mindray Medical Int’l Ltd.

MR

602675100

12/19/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

PriceSmart, Inc

PSMT

741511109

01/25/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

Hansen Natural Corporation

HANS

411310105

01/05/12

Amend Certificate of Incorporation to Change Name

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

Amdocs Limited

DOX

G02602103

02/02/12

Directors

Issuer

Yes

For

For

Approve Amended Stock Option and Incentive Plan

Issuer

Yes

For

For

Approve Consolidated Financial Statements

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Siemens AG

SI

826197501

01/24/12

Appropriation of Net Income

Issuer

Yes

For

For

Ratification of the Acts of the Managing Board

Issuer

Yes

For

For

Ratification of the Acts of the Supervisory Board

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Proposal re: Amend Articles of Association

Sholder

Yes

Against

For

Accenture Plc

ACN

G1151C101

02/09/12

Approve the Financial Statements

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Articles of Association to Declassify Board

Issuer

Yes

For

For

Hold 2013 General Meeting Outside of Ireland

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares at Market

Issuer

Yes

For

For

Determine Price Range to Re-Issue Treasury Stock

Issuer

Yes

For

For

Apple Inc.

AAPL

037833100

02/23/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Conflict of Interest Report

Sholder

Yes

Against

For

Proposal re: “Shareholder Say on Director Pay”

Sholder

Yes

Against

For

Proposal re: Request Report on Political Contributions

Sholder

Yes

Against

For

Proposal re: Majority Voting in Director Elections

Sholder

Yes

Against

For

QUALCOMM Incorporated

QCOM

747525103

03/06/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate of Incorporation to Adopt Majority Voting Standards

Issuer

Yes

For

For

TE Connectivity Ltd.

TEL

H84989-104

03/07/12

Directors

Issuer

Yes

For

For

Approve Company’s Annual Accounts

Issuer

Yes

For

For

Approve the Financial Statements

Issuer

Yes

For

For

Approve Consolidated Financial Statements

Issuer

Yes

For

For

Release all of the Members of the Board of Directors and of the Executive Officers

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Swiss Auditor

Issuer

Yes

For

For

Special Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended Stock Incentive Plan

Issuer

Yes

For

For

Capital Reduction (by Cancellation of Shares)

Issuer

Yes

For

For

Authority Relating to Share Repurchase Program

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Reallocation of all Free Reserves

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

Parametric Technology Corporation

PMTC

699173209

03/07/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Articles of Association to Change Name

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Franklin Resources, Inc.

BEN

354613101

03/14/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Fomento Economico Mexicano S.A.B. de CV

FMX

344419106

03/23/12

Receive Report of Chief Executive Officer

Issuer

Yes

For

For

Receive Report on Compliance of Tax Obligations

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Amount Used for the Share Repurchase Program

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appoint Members of Various Committees

Issuer

Yes

For

For

Powers for Formalities

Issuer

Yes

For

For

Read and Approve the Minutes

Issuer

Yes

For

For

Approve Agreement and Plan of Merger

Issuer

Yes

For

For

Powers for Formalities

Issuer

Yes

For

For

Read and Approve the Minutes

Issuer

Yes

For

For

IDEX Corporation

IEX

45167R104

04/10/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Biglari Holdings Inc.

BH

08986R101

04/19/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

Proposal re: Humane Society

Sholder

Yes

Against

For

Delhaize Group

DEG

29759W101

04/23/12

Amend Articles to Increase Authorized Share Capital

Issuer

Yes

For

For

Powers for Formalities

Issuer

Yes

For

For

Banco Santander Chile

BSAC

05965X109

04/24/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Risk Rating Agencies

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Consider Remuneration to Audit Committee

Issuer

Yes

For

For

Bio-Rad Laboratories, Inc.

BIO

090572207

04/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Performance Goals Under 2007 Incentive Award Plan

Issuer

Yes

For

For

Praxair, Inc.

PX

74005P104

04/24/12

Directors

Issuer

Yes

For

For

Amend Certificate of Incorporation to Permit Shareholders to Call Special Meetings

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Appointment of the Auditor

Issuer

Yes

For

For

RPC, Inc.

RES

749660106

04/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

FMC Corporation

FMC

302491303

04/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

Proposal re: Board Declassification

Sholder

Yes

Against

For

Syngenta AG

SYT

87160A100

04/24/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

Capital Reduction (by Cancellation of Shares)

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Share Repurchase Program

Issuer

Yes

For

For

Approve Amendment to Articles of Incorporation

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

City Holding Company

CHCO

177835105

04/25/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Teledyne Technologies Incorporated

TDY

879360105

04/25/12

Directors

Issuer

Yes

For

For

Approve Incentive Compensation Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

America Movil, S.A.B. de C.V.

AMX

02364W105

04/25/12

Directors

Issuer

Yes

For

For

Powers for Formalities

Issuer

Yes

For

For

NewMarket Corporation

NEU

651587107

04/26/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Articles of Incorporation to Adopt Majority Voting Standards

Issuer

Yes

For

For

eBay Inc.

EBAY

278642103

04/26/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended 2008 Equity Incentive Plan

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Amend Certificate of Incorporation to Declassify Board

Issuer

Yes

For

For

Amend Certificate of Incorporation to Permit Shareholders to Call Special Meetings

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Enersis S.A.

ENI

29274F104

04/26/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Compensation for Directors’ Committee and Budget

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Election of Two Account Inspectors

Issuer

Yes

For

For

Risk Rating Agencies

Issuer

Yes

For

For

Investment and Financing Policy

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

Adoption of Other Resolutions Necessary

Issuer

Yes

For

For

Embraer S.A.

ERJ

29082A107

04/26/12

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Fiscal Council Members

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Compensation for Directors’ Committee and Budget

Issuer

Yes

For

For

Sociedad Quimica y Minera de Chile S.A.

SQM

833635105

04/26/12

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Operations Refered to in “Law of Corporations” of Chile

Issuer

Yes

For

For

Investment and Financing Policies

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Expenses of the Board of Directors

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Issues Related to Audit and Directors’ Committees

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

Schweitzer-Mauduit International, Inc.

SWM

808541106

04/26/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Littelfuse, Inc.

LFUS

537008104

04/27/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Grupo Televisa, S.A.B.

TV

40049J206

04/27/12

Directors

Issuer

Yes

For

For

Powers for Formalities

Issuer

Yes

For

For

United Rentals, Inc.

URI

911363109

04/27/12

Approve Agreement and Plan of Merger

Issuer

Yes

For

For

Approve Issuance of Shares Contemplated by Merger

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

Regal Beloit Corporation

RBC

758750103

04/30/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Aaron’s Inc.

AAN

002535300

05/01/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Allergan, Inc.

AGN

018490102

05/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal from a Shareholder

Sholder

Yes

Against

For

Laboratory Corp. of America Holdings

LH

50540R409

05/01/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Omnibus Incentive Plan

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Tenaris, S.A.

TS

88031M-109

05/02/12

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Approve Consolidated Financial Statements

Issuer

Yes

For

For

Approve Company’s Annual Accounts

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Authorize Board to Distribute Shareholder Materials Electronically

Issuer

Yes

For

For

Renew Authorized Share Capital

Issuer

Yes

For

For

Amend Article 10 of the Articles of Association

Issuer

Yes

For

For

Amend Article 11 of the Articles of Association

Issuer

Yes

For

For

Amend Article 13 of the Articles of Association

Issuer

Yes

For

For

Amend Article 15 of the Articles of Association

Issuer

Yes

For

For

Amend Article 16 of the Articles of Association

Issuer

Yes

For

For

Amend Article 17 of the Articles of Association

Issuer

Yes

For

For

Amend Article 19 of the Articles of Association

Issuer

Yes

For

For

Amend Title V of the Articles of Association

Issuer

Yes

For

For

Amend Article 20 of the Articles of Association

Issuer

Yes

For

For

Amend Article 21 of the Articles of Association

Issuer

Yes

For

For

FMC Technologies, Inc.

FTI

30249U101

05/02/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate of Incorporation to Provide for Annual Election of all Directors

Issuer

Yes

For

For

AptarGroup, Inc.

ATR

038336103

05/02/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Hexcel Corporation

HXL

428291108

05/03/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Ecolab Inc.

ECL

278865100

05/03/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Amend Certificate of Incorporation to Eliminate Supermajority Shareholder Voting Requirements

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Proposal re: Redeem Stockholder Rights Plan

Sholder

Yes

Against

For

Tractor Supply Company

TSCO

892356106

05/03/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Allied World Assurance Co

AWH

H01531-104

05/03/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Omnibus Incentive Plan

Issuer

Yes

For

For

Share Repurchase Program

Issuer

Yes

For

For

Approve Reclassification Used in Financial Statements

Issuer

Yes

For

For

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Retention of Disposable Profits

Issuer

Yes

For

For

Capital Reduction (by Cancellation of Shares)

Issuer

Yes

For

For

Eliminate the Conditional Share Capital

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Special Auditor

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

GlaxoSmithKline Plc

GSK

37733W-105

05/03/12

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Authority to Make Political Donations

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Disapplication of Pre-Emption Rights

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares at Market

Issuer

Yes

For

For

Authorise Exemption Regarding Senior Auditor

Issuer

Yes

For

For

Reduce the Notice Period for General Meetings

Issuer

Yes

For

For

Renew the GSK ShareSave Plan

Issuer

Yes

For

For

Renew the GSK ShareReward Plan

Issuer

Yes

For

For

Curtiss-Wright Corporation

CW

231561101

05/04/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

LKQ Corporation

LKQ

501889208

05/07/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Amended 1998 Equity Incentive Plan

Issuer

Yes

For

For

Approve Amendments to the Long-Term Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Interline Brands, Inc.

IBI

458743101

05/10/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Executive Cash Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

Tim Hortons Inc.

THI

88706M-103

05/10/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Confirm the Shareholder Rights Plan

Issuer

Yes

For

For

Approve 2012 Stock Incentive Plan

Issuer

Yes

For

For

Proposal from a Shareholder

Sholder

Yes

Against

For

Brookfield Asset Management Inc.

BAM

112585-104

05/10/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

The 2012 Plan Resolution

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Kohl’s Corporation

KSS

500255-104

05/10/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Animal Fur Policy

Sholder

Yes

Against

For

Proposal re: Succession Planning and Reporting

Sholder

Yes

Against

For

Proposal re: Executive Equity Retention Policy

Sholder

Yes

Against

For

CF Industries Holdings, Inc.

CF

125269100

05/10/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Board Declassification

Sholder

Yes

Against

For

Proposal re: Majority Voting in Director Elections

Sholder

Yes

Against

For

MEDNAX, Inc.

MD

58502B106

05/10/12

Directors

Issuer

Yes

For

For

Approve Incentive Compensation Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

TriMas Corporation

TRS

896215209

05/10/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Agrium Inc.

AGU

008916-108

05/11/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

ICU Medical, Inc.

ICUI

44930G107

05/11/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended Stock Incentive Plan

Issuer

Yes

For

For

Markel Corporation

MKL

570535104

05/14/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Broadcom Corporation

BRCM

111320107

05/15/12

Directors

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Approve 2012 Stock Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Newport Corporation

NEWP

651824104

05/15/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Financial Engines, Inc.

FNGN

317485100

05/15/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

ProAssurance Corporation

PRA

74267C106

05/16/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

Ceradyne, Inc.

CRDN

156710105

05/16/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Intel Corporation

INTC

458140100

05/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

ANSYS, Inc.

ANSS

03662Q105

05/17/12

Directors

Issuer

Yes

For

For

Amend Certificate of Incorporation to Adopt Majority Voting Standards

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Panera Bread Company

PNRA

69840W108

05/17/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Envestnet, Inc.

ENV

29404K106

05/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Rockwoood Holdings, Inc.

ROC

774415103

05/18/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Greatbatch, Inc.

GB

39153L106

05/18/12

Directors

Issuer

Yes

For

For

Approve Short-Term Incentive Compensation Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

VCA Antech, Inc.

WOOF

918194101

05/21/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Nu Skin Enterprises, Inc.

NUS

67018T105

05/21/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Genesee & Wyoming Inc.

GWR

371559105

05/22/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Rudolph Technologies, Inc.

RTEC

781270103

05/23/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

SAP AG

SAP

803054204

05/23/12

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Approve Acts of the Executive Board

Issuer

Yes

For

For

Approve Acts of the Supervisory Board

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Approve Amendment to Articles of Incorporation

Issuer

Yes

For

For

Aircastle Limited

AYR

G0129K104

05/24/12

Directors

Issuer

Yes

For

For

Increase the Size of the Board of Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Landstar System, Inc.

LSTR

515098101

05/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Executive Incentive Compensation Plan

Issuer

Yes

For

For

Amazon.com, Inc.

AMZN

023135-106

05/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Performance Goals Under the 1997 Stock Incentive Plan

Issuer

Yes

For

For

Proposal re: Climate Change Risk Disclosure

Sholder

Yes

Against

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Delhaize Group

DEG

29759W-101

05/24/12

Approve Company’s Annual Accounts

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

Discharge Liability of the Statutory Auditor

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Approve the Remuneration Report

Issuer

Yes

For

For

Approve 2012 Stock Incentive Plan

Issuer

Yes

For

For

Approve 2012 Resticted Stock Unit Plan

Issuer

Yes

For

For

Approval of the Vesting Periods

Issuer

Yes

For

For

Approval of Accelerated Vesting

Issuer

Yes

For

For

Early Redemption Upon Change of Control

Issuer

Yes

For

For

Amend Article 8 A of the Articles of Association

Issuer

Yes

For

For

Powers for Formalities

Issuer

Yes

For

For

Elan Corporation, Plc

ELN

284131-208

05/24/12

Receive the 2011 Financial Statements and Reports

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Remuneration of the Auditor

Issuer

Yes

For

For

Approve 2012 Long-Term Incentive Plan

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Authority to Allot Shares

Issuer

Yes

For

For

Disapplication of Pre-Emption Rights

Issuer

Yes

For

For

Reduce Company’s Share Capital

Issuer

Yes

For

For

Convert Executive Shares to Redeemable Executive Shares

Issuer

Yes

For

For

Approve Amendment to Articles of Association

Issuer

Yes

For

For

Authorize Directors to Trade in Company’s Own Stock

Issuer

Yes

For

For

Set the Re-Issue Price Range for Treasury Shares

Issuer

Yes

For

For

Retain 14 Day Notice Period for Extraordinary General Meetings

Issuer

Yes

For

For

CNOOC Limited

CEO

12613209

05/25/12

Receive Accounts and Reports

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Setting of Board of Directors’ Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Authority to Purchase Own Ordinary Shares

Issuer

Yes

For

For

Authorize Board to Allot, Issue, and Deal Additional Shares in the Capital of the Company

Issuer

Yes

For

For

Extend General Mandate Granted to Directors to Allot, Issue, and Deal with Shares in Capital of Company

Issuer

Yes

For

For

Valeant Pharmaceuticals International, Inc.

VXR

91911K-102

05/30/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Mercer International Inc.

MERC

588056101

05/31/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Lowe’s Companies, Inc.

LOW

548661107

06/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Proposal re: Executive Severance Agreements

Sholder

Yes

Against

For

Proposal re: Executive Equity Retention Policy

Sholder

Yes

Against

For

TPC Group Inc

TPCG

89236Y104

06/05/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Constant Contact, Inc.

CTCT

210313102

06/05/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Lululemon Athletica Inc.

LULU

550021109

06/06/12

Directors

Issuer

Yes

For

For

Approve Amended 2007 Equity Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Cabela’s Incorporated

CAB

126804301

06/06/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Sauer-Danfoss Inc.

SHS

804137107

06/06/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Salesforce.com, Inc.

CRM

79466L302

06/07/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Board Declassification

Sholder

Yes

Against

For

Coinstar, Inc.

CSTR

19259P300

06/07/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

United Rentals, Inc.

URI

911363-109

06/08/12

Directors

Issuer

Yes

For

For

Approve Amendments to the Long-Term Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Exclusive Forum Provisions

Sholder

Yes

Against

For

Monster Beverage Corporation

MNST

611740101

06/08/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Western Refining, Inc.

WNR

959319104

06/08/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Infosys Technologies Limited

INFY

456788108

06/09/12

Adopt Balance Sheet, Profit & Loss Account, & Report

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Taiwan Semiconductor Mfg. Co. Ltd.

TSM

874039100

06/12/12

Directors

Issuer

Yes

For

For

Receive the 2011 Financial Statements and Reports

Appropriation of Profits, Declaration of Dividend

Approve Amendment to Articles of Incorporation

Revise Rules for Election of Directors

UFP Technologies, Inc.

UFPT

902673102

06/14/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

Accelrys, Inc.

ACCL

00430U103

06/21/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

VeriFone Systems, Inc.

PAY

92342Y109

06/27/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

API Trust

Income Fund

Proxy Voting Record

July 1, 2011 - June 30, 2012

Issuer

Ticker

CUSIP

Meeting
Date

Matter Voted On

Proposed By

Vote
Cast

Vote

For or
Against
Mgt.

Eaton Vance Enhanced Equity Income Fd

EOI

278274105

07/22/11

Directors

Issuer

Yes

For

For

Invesco High Yield Invts Fd, Inc Com

MSY

46133K108

07/14/11

Directors

Issuer

Yes

For

For

Armour Residential REIT, Inc

ARR

042315101

07/18/11

Directors

Issuer

Yes

For

For

Approve Amended Stock Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

NFJ Div, Int & Prem. Strategy Fund

NFJ

65337H109

07/20/11

Directors

Issuer

Yes

For

For

AGIC Intl & Prem Strategy Fd - Com

NAI

00119Q100

07/20/11

Directors

Issuer

Yes

For

For

PIMCO Global Stocksplus & Income Fund

PGP

722011103

07/20/11

Directors

Issuer

Yes

For

For

PIMCO Strategic Global Govt Fd, Inc.

RCS

72200X104

07/20/11

Directors

Issuer

Yes

For

For

AGIC Conv & Income Fd - Com

NCV

001190107

07/20/11

Directors

Issuer

Yes

For

For

AGIC Convertible & Income Fund II - Com

NCZ

001191105

07/20/11

Directors

Issuer

Yes

For

For

BlackRock High Income Shares

HIS

09250E-107

07/28/11

Directors

Issuer

Yes

For

For

BlackRock Core Bond Trust

BHK

09249E-101

07/28/11

Directors

Issuer

Yes

For

For

BlackRock Global Opp Equity Trust

BOE

092501-105

07/28/11

Directors

Issuer

Yes

For

For

BlackRock Dividend Achievers Trust

BDV

09250N-107

07/28/11

Directors

Issuer

Yes

For

For

BlackRock Corporate High Yield Fd III

CYE

09255M-104

07/28/11

Directors

Issuer

Yes

For

For

BlackRock Debt Strategies Fund, Inc.

DSU

09255R-103

07/28/11

Directors

Issuer

Yes

For

For

BlackRock Corporate High Yield Fd

COY

09255L-106

07/28/11

Directors

Issuer

Yes

For

For

BR Enhanced Capital & Income Fund, Inc.

CII

09256A-109

07/28/11

Directors

Issuer

Yes

For

For

BlackRock Corporate High Yield Fd VI

HYT

09255P-107

07/28/11

Directors

Issuer

Yes

For

For

Dreyfus High Yield Strategies Fund

DHF

26200S101

08/04/11

Directors

Issuer

Yes

For

For

EV Tax - Advantaged Global Div Income - Com

ETG

27828S101

08/26/11

Directors

Issuer

Yes

For

For

Eaton Vance Tax - Mangd Glb Div Eq Inc Fd

EXG

27829F108

08/26/11

Directors

Issuer

Yes

For

For

EV Tax-Managed Div Equity Income Fd

ETY

27828N102

08/26/11

Directors

Issuer

Yes

For

For

Wells Fargo Advantage Income Oppty Fund

EAD

94987B105

08/08/11

Directors

Issuer

Yes

For

For

Guggenheim Enhanced Equity Income Fund

GPM

40167B100

07/27/11

Directors

Issuer

Yes

12(d)(1)(F)

First Tr Strategic High Income Fund II

FHY

337353106

08/08/11

Approve Issuance of Shares in Connection with the Agreement and Plan of Reorganization

Issuer

Yes

12(d)(1)(F)

Managed High Yield Plus Fund Inc.

HYF

561911108

09/15/11

Directors

Issuer

Yes

For

For

Pioneer High Income Trust - Common

PHT

72369H106

09/21/11

Directors

Issuer

Yes

For

For

Pioneer Diversified High Income Trust

HNW

723653101

09/21/11

Directors

Issuer

Yes

For

For

Guggenheim Enhanced Equity Strategy Fd

GGE

40167K100

08/30/11

Directors

Issuer

Yes

12(d)(1)(F)

Approve Investment Sub-Advisory Agreement

Issuer

Yes

12(d)(1)(F)

Royce Value Trust, Inc.

RVT

780910-105

09/22/11

Directors

Issuer

Yes

For

For

Western Asset Global High Income Fd Inc

EHI

95766B109

09/23/11

Directors

Issuer

Yes

For

For

MFS Multimarket Income Trust

MMT

552737108

10/05/11

Directors

Issuer

Yes

For

For

MFS Intermediate High Income Fund

CIF

59318T109

10/05/11

Directors

Issuer

Yes

For

For

Armour Residential REIT, Inc

ARR

042315101

11/01/11

Approve an Amendment to Armour’s Charter

Issuer

Yes

For

For

Prospect Capital Corporation

PSEC

74348T102

12/08/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Helios Strategic Inc Fd, Inc.

HSA

42328A203

11/17/11

Directors

Issuer

Yes

For

For

Helios High Income Fund, Inc.

HIH

42327X204

11/17/11

Directors

Issuer

Yes

For

For

Helios Advantage Income Fund, Inc.

HAV

42327W206

11/17/11

Directors

Issuer

Yes

For

For

Helios Multi-Sector Hi Inc Fd, Inc.

HMH

42327Y202

11/17/11

Directors

Issuer

Yes

For

For

American Strategic Income Portfolio - III

CSP

03009T101

12/06/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Change the Fund’s Policy on Investing in REIT Preferred Stock

Issuer

Yes

For

For

American Income Fund, Inc.

MRF

02672T109

12/06/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Western Asset Global Partners Income Fd

GDF

95766G108

12/12/11

Directors

Issuer

Yes

For

For

PIMCO High Income Fund-Common

PHK

722014107

12/19/11

Directors

Issuer

Yes

For

For

John Hancock Preferred Income Fund III

HPS

41021P-103

01/20/12

Directors

Issuer

Yes

For

For

Golub Capital BDC, Inc.

GBDC

38173M-102

02/02/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Western Asset High Income Opp. Fd Inc.

HIO

95766K109

01/27/12

Directors

Issuer

Yes

For

For

PennantPark Investment Corporation

PNNT

708062-104

02/07/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

PennantPark Investment Corporation

PNNT

708062104

02/07/12

Authorize Flexibility for the Company to Sell or Issue

Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

PennantPark Floating Rate Cap

PFLT

70806A-106

02/07/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

PennantPark Floating Rate Cap

PFLT

70806A106

02/07/12

Authorize Flexibility for the Company to Sell or Issue

Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Medley Capital Corp.

MCC

58503F-106

02/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Authorize Company to Issue Warrants, Options, or Rights to Subscribe/Convert to/Purchase Stock

Issuer

Yes

For

For

Fifth Street Finance Corp.

FSC

31678A103

04/04/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Investment Advisory Agreement with Advisor

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

Credit Suisse Asset Mgmt Income Fd, Inc

CIK

224916106

04/10/12

Directors

Issuer

Yes

For

For

First Tr Strategic High Income Fund II

FHY

337353304

04/18/12

Directors

Issuer

Yes

12(d)(1)(F)

PIMCO Income Opportunity Fd

PKO

72202B100

04/23/12

Directors

Issuer

Yes

For

For

Guggenheim Enhanced Equity Strategy Fd

GGE

40167K100

04/26/12

Directors

Issuer

Yes

12(d)(1)(F)

World Wrestling Entertainment, Inc.

WWE

98156Q108

04/27/12

Directors

Issuer

Yes

For

For

Approve Performance Goals Under the 2007 Omnibus Incentive Plan

Issuer

Yes

For

For

Approve 2012 Employee Stock Purchase Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

American Capital Agency Corp.

AGNC

02503X-105

05/01/12

Directors

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Triangle Capital Corporation

TCAP

895848109

05/02/12

Directors

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Approve 2012 Cash Incentive Plan

Issuer

Yes

For

For

Approve Amended 2007 Equity Incentive Plan

Issuer

Yes

For

For

Starwood Property Trust Inc

STWD

85571B105

05/02/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Hatteras Financial Corp.

HTS

41902R-103

05/02/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Invesco Mortgage Capital Inc.

IVR

46131B-100

05/03/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Apollo Commercial Real Estate Finance

ARI

03762U-105

05/04/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

CommonWealth REIT

CWH

203233-101

05/08/12

Directors

Issuer

Yes

For

For

Approve the Equity Compensation Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

New Mountain Finance Corporation

NMFC

647551100

05/08/12

Directors

Issuer

Yes

For

For

Approve Investment Advisory Agreement with Advisor

Issuer

Yes

For

For

BlackRock Kelso Capital

BKCC

092533108

05/09/12

Directors

Issuer

Yes

For

For

Corporation

Authorize Flexibility for the Company to Sell or Issue

Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Windstream Corporation

WIN

97381W-104

05/09/12

Directors

Issuer

Yes

For

For

Approve the Performance Incentive Compensation Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Ban on Accelerated Vesting of Restricted Stock

Sholder

Yes

Against

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

CYS Investments, Inc.

CYS

12673A108

05/10/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Dynex Capital, Inc.

DX

26817Q-506

05/14/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

NGP Capital Resources Company

NGPC

62912R107

05/16/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

Medical Properties Trust, Inc.

MPW

58463J304

05/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

AG Mortgage Investment Trust, Inc.

MITT

001228-105

05/18/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

Apollo Senior Floating Rate Fund Inc.

AFT

037636-107

05/21/12

Directors

Issuer

Yes

For

For

Two Harbors Investment Corp.

TWO

90187B-101

05/22/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

CreXus Investment Corporation

CXS

226553105

05/24/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

NorthStar Realty Finance Corp.

NRF

66704R100

05/24/12

Directors

Issuer

Yes

For

For

Approve Amended 2008 Omnibus Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Compass Diversified Holdings

CODI

20451Q-104

05/30/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

MCG Capital Corporation

MCGC

58047P107

05/30/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Hercules Technology Growth Cap Inc

HTGC

427096508

05/30/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Authorize Company to Issue Warrants, Options, or Rights to Subscribe/Convert to/Purchase Stock

Issuer

Yes

For

For

Armour Residential REIT, Inc

ARR

042315101

05/30/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

3YR

For

Ares Capital Corporation

ARCC

04010L103

06/04/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

TICC Capital Corp

TICC

87244T109

06/06/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Fidus Invt Corp

FDUS

316500107

06/06/12

Directors

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Authorize Company to Issue Warrants, Options, or Rights to Subscribe/Convert to/Purchase Stock

Issuer

Yes

For

For

Resource Capital Corp.

RSO

76120W-302

06/07/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

THL Credit, Inc.

TCRD

872438106

06/07/12

Directors

Issuer

Yes

For

For

Amend Certificate of Incorporation to Declassify Board

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Authorize Company to Issue Warrants, Options, or Rights to Subscribe/Convert to/Purchase Stock

Issuer

Yes

For

For

Horizon Technology Finance Corporation

HRZN

44045A102

06/11/12

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Horizon Technology Finance Corporation

HRZN

44045A102

06/11/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

One Liberty Properties, Inc.

OLP

682406103

06/12/12

Directors

Issuer

Yes

For

For

Approve the Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Kohlberg Capital Corporation

KCAP

500233-101

06/15/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate of Incorporation to Change Name

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Kohlberg Capital Corporation

KCAP

500233101

06/22/12

Authorize Flexibility for the Company to Sell or Issue Common Stock Shares Below Net Asset Value

Issuer

Yes

For

For

Western Asset Managed High Income Fund

MHY

95766L107

06/25/12

Directors

Issuer

Yes

For

For

WisdomTree EM Corporate Bond Fd

EMCB

97717X784

06/29/12

Approve Investment Advisory Agreement with Advisor

Issuer

Yes

12(d)(1)(F)

API Trust

Multiple Index Fund

Proxy Voting Record

July 1, 2011- June 30, 2012

Issuer

Ticker

CUSIP

Meeting
Date

Matter Voted On

Proposed By

Vote
Cast

Vote

For or
Against
Mgt.

RF Micro Devices, Inc.

RFMD

749941BDH

08/03/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder

Approval of Compensation of Executives

Issuer

Yes

1YR

For

Reapprove Cash Bonus Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Applied Micro Circuits Corp.

AMCC

03822W-BDH

08/16/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Equity Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder

Approval of Compensation of Executives

Issuer

Yes

1YR

For

WA Global Corp Defined Opp Fund

GDO

95790C107

02/24/12

Directors

Issuer

Yes

For

For

API Trust

Value Fund

Proxy Voting Record

July 1, 2011 - June 30, 2012

Issuer

Ticker

CUSIP

Meeting

Date

Matter Voted On

Proposed By

Vote

Cast

Vote

For or
Against

Mgt.

Calamos Asset Management, Inc.

CLMS

12811R104

07/21/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Precision Castparts Corp.

PCP

740189105

08/16/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Measurement Specialties, Inc.

MEAS

583421102

09/22/11

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Infosys Technologies Limited

INFY

456788108

10/18/11

Ordinary Resolution to Revoke Resolution Passed by the Shareholders at the Annual General Meeting

Issuer

Yes

For

For

Approve Restricted Stock Units Plan (“RSU Plan”) and Grant Restricted Stock Units (“RSUS”) to “Eligible Employees” of the Company

Issuer

Yes

For

For

Approve Grant of RSUS Under the RSU Plan to “Eligible Employees” of the Subsidiary Companies

Issuer

Yes

For

For

Kinetic Concepts, Inc.

KCI

49460W208

10/28/11

Approve Agreement and Plan of Merger

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

Approve Proposal Regarding Certain Merger-Related Executive Compensation Arrangements

Issuer

Yes

For

For

Harbin Electric, Inc.

HRBN

41145W109

10/29/11

Approve Agreement and Plan of Merger

Issuer

Yes

For

For

Approve Proposal Regarding Certain Merger-Related Executive Compensation Arrangements

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

Lam Research Corporation

LRCX

512807108

11/03/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Sysco Corporation

SYY

871829107

11/16/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Amend Bylaws to Implement a Staggered Declassification of the Board of Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

ScanSource, Inc.

SCSC

806037107

12/01/11

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of

Compensation of

Executives

Issuer

Yes

3YR

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Walgreen Co.

WAG

931422-109

01/11/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve the Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Proposal re: Executive Equity Retention Policy

Sholder

Yes

Against

For

Intuit Inc.

INTU

461202103

01/19/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Advisory Nonbinding Approval of Interval of Shareholder Approval of Compensation of Executives

Issuer

Yes

1YR

For

Rockwell Collins, Inc.

COL

774341101

02/03/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Fair Isaac Corporation

FICO

303250104

02/07/12

Directors

Issuer

Yes

For

For

Approve 2012 Long-Term Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Applied Materials, Inc.

AMAT

038222105

03/06/12

Directors

Issuer

Yes

For

For

Approve Equity Incentive Plan

Issuer

Yes

For

For

Approve Executive Bonus Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

National Fuel Gas Company

NFG

636180101

03/08/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 At Risk Compensation Incentive Plan

Issuer

Yes

For

For

Approve the Performance Incentive Program

Issuer

Yes

For

For

HEICO Corporation

HEI

422806109

03/26/12

Directors

Issuer

Yes

For

For

Approve Incentive Compensation Plan

Issuer

Yes

For

For

Amend Articles to Increase Authorized Share Capital

Issuer

Yes

For

For

Amend Articles to Increase Authorized Share Capital

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Schlumberger Limited

SLB

806857108

04/11/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Amend 2004 Stock and Deferral Plan

Issuer

Yes

For

For

United Technologies Corporation

UTX

913017109

04/11/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

A.O. Smith Corporation

AOS

831865209

04/16/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Performance Goals Under Combined Incentive Compensation Plan

Issuer

Yes

For

For

Graco Inc.

GGG

384109104

04/20/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Incentive Bonus Plan

Issuer

Yes

For

For

Proposal re: Majority Voting in Director Elections

Sholder

Yes

Against

For

Centene Corporation

CNC

15135B101

04/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Stock Incentive Plan

Issuer

Yes

For

For

International Business Machines Corporation

IBM

459200101

04/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Cumulative Voting

Sholder

Yes

Against

For

Proposal re: Request Report on Political Contributions

Sholder

Yes

Against

For

Proposal re: Lobbying Policies and Practices

Sholder

Yes

Against

For

FMC Corporation

FMC

302491303

04/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

Proposal re: Board Declassification

Sholder

Yes

Against

For

Noble Energy, Inc.

NBL

655044105

04/24/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate Increasing Authorized Share Capital

Issuer

Yes

For

For

The Chubb Corporation

CB

171232101

04/24/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Wells Fargo & Company

WFC

949746101

04/24/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Cumulative Voting

Sholder

Yes

Against

For

Proposal re: Allow Shareholders to Nominate Directors

Sholder

Yes

Against

For

Proposal re: Mortgage Servicing Operations

Sholder

Yes

Against

For

Kirby Corporation

KEX

497266106

04/24/12

Directors

Issuer

Yes

For

For

Approve Amended Stock Incentive Plan

Issuer

Yes

For

For

Approve 2000 Non-Employee Director Stock Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Winmark Corporation

WINA

974250102

04/25/12

Directors

Issuer

Yes

For

For

To Set the Number of Directors at Seven (7)

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

E. I. du Pont de Nemours and Company

DD

263534109

04/25/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Executive Compensation Report

Sholder

Yes

Against

For

Diamond Hill Investment Group, Inc.

DHIL

25264R207

04/25/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ameriprise Financial, Inc.

AMP

03076C106

04/25/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Ball Corporation

BLL

058498106

04/25/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Tempur-Pedic International, Inc.

TPX

88023U101

04/25/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

First Niagara Financial Group, Inc.

FNFG

33582V108

04/25/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Equity Incentive Plan

Issuer

Yes

For

For

Approve Executive Incentive Compensation Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Brown & Brown, Inc.

BRO

115236101

04/25/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Johnson & Johnson

JNJ

478160104

04/26/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 2012 Long-Term Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Proposal re: Animal Research

Sholder

Yes

Against

For

Janus Capital Group Inc.

JNS

47102X105

04/26/12

Amend Certificate of Incorporation to Provide for Annual

Election of all Directors

Issuer

Yes

For

For

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Approve 2012 Long-Term Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

eBay Inc.

EBAY

278642103

04/26/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended 2008 Equity Incentive Plan

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Amend Certificate of Incorporation to Declassify Board

Issuer

Yes

For

For

Amend Certificate of Incorporation to Permit Shareholders to Call Special Meetings Appointment of the Auditor

Issuer

Yes

For

For

Noble Corporation

NE

H5833N103

04/27/12

Directors

Issuer

Yes

For

For

Reduce Number of Members of the Board of Directors

Issuer

Yes

For

For

Approve Annual Report & Financial Statements

Issuer

Yes

For

For

Appropriation of Profits, Declaration of Dividend

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Discharge of Members of Board of Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve 1991 Stock Option & Restricted Stock Plan

Issuer

Yes

For

For

Abbott Laboratories

ABT

002824100

04/27/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Animal Research

Sholder

Yes

Against

For

Proposal re: Lobbying Policies and Practices

Sholder

Yes

Against

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Tax Gross-Ups

Sholder

Yes

Against

For

Proposal re: Equity Retention and Hedging

Sholder

Yes

Against

For

Proposal re: Incentive Compensation

Sholder

Yes

Against

For

Proposal re: Ban Accelerated Vesting of Awards Upon a Change in Control

Sholder

Yes

Against

For

The Boeing Company

BA

097023105

04/30/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Proposal re: Request Report on Political Contributions

Sholder

Yes

Against

For

Proposal re: Shareholder Action by Written Consent

Sholder

Yes

Against

For

Proposal re: Executive Equity Retention Policy

Sholder

Yes

Against

For

Proposal re: Extraordinary Retirement Benefits

Sholder

Yes

Against

For

Gardner Denver, Inc.

GDI

365558105

05/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Approve Amendments to the Long-Term Incentive Plan

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Sigma-Aldrich Corporation

SIAL

826552101

05/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Total System Services, Inc.

TSS

891906-109

05/01/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended 2008 Omnibus Incentive Plan

Issuer

Yes

For

For

Approve 2012 Employee Stock Purchase Plan

Issuer

Yes

For

For

Spectra Energy Corp

SE

847560109

05/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Amend Certificate of Incorporation to Adopt Majority Voting Standards

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Astec Industries, Inc.

ASTE

046224101

05/03/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Weight Watchers International, Inc.

WTW

948626106

05/08/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

OM Group, Inc.

OMG

670872100

05/08/12

Directors

Issuer

Yes

For

For

Re-Approve Incentive Compensation Performance Measurements

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Capital One Financial Corporation

COF

14040H105

05/08/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Associate Stock Purchase Plan

Issuer

Yes

For

For

Packaging Corporation of America

PKG

695156109

05/08/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Babcock & Wilcox Co

BWC

05615F102

05/08/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

ConocoPhillips

COP

20825C-104

05/09/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Environmental Policy

Sholder

Yes

Against

For

Proposal re: Accident Risk Mitigation

Sholder

Yes

Against

For

Proposal re: Grassroots Lobbying

Sholder

Yes

Against

For

Proposal re: Greenhouse Gas Emissions

Sholder

Yes

Against

For

Proposal re: Gender Expression Non-Discrimination

Sholder

Yes

Against

For

Nordstrom, Inc.

JWN

655664100

05/09/12

Directors

Issuer

Yes

For

For

Approve Executive Bonus Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Lam Research Corporation

LRCX

512807108

05/10/12

Approve Issuance of Shares Contemplated by Merger

Issuer

Yes

For

For

Adjourn to Solicit Additional Proxies if Necessary

Issuer

Yes

For

For

The Middleby Corporation

MIDD

596278101

05/10/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Owens-Illinois, Inc.

OI

690768403

05/10/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate of Incorporation to Provide for Annual Election of all Directors

Issuer

Yes

For

For

CVS Caremark Corporation

CVS

126650-100

05/10/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Shareholder Action by Written Consent

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Medicis Pharmaceutical Corporation

MRX

584690309

05/15/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Corn Products International, Inc.

INGR

219023108

05/15/12

Directors

Issuer

Yes

For

For

Amend Certificate of Incorporation to Change Name

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

ProAssurance Corporation

PRA

74267C106

05/16/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Other Matters As May Come Before the Meeting

Issuer

Yes

For

For

Rosetta Resources, Inc.

ROSE

777779307

05/17/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Dr Pepper Snapple Group, Inc.

DPS

26138E109

05/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Amend Certificate of Incorporation to Declassify Board

Issuer

Yes

For

For

Proposal re: Recycling Strategy

Sholder

Yes

Against

For

TNS, Inc.

TNS

872960109

05/17/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Principal Financial Group, Inc.

PFG

74251V102

05/22/12

Directors

Issuer

Yes

For

For

Elimination of Supermajority Voting

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Stericycle, Inc.

SRCL

858912108

05/22/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Executive Equity Retention Policy

Sholder

Yes

Against

For

Omnicom Group Inc.

OMC

681919-106

05/22/12

Directors

Issuer

Yes

For

For

.

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Change Vote Required for Shareholders to Call Special Shareholder Meetings

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Annual Disclosure of EEO-1 Data

Sholder

Yes

Against

For

The Travelers Companies, Inc.

TRV

89417E-109

05/23/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Amgen Inc.

AMGN

031162-100

05/23/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Authorize Shareholder Action by Written Consent

Issuer

Yes

For

For

Shareholder Proposal Number 1

Sholder

Yes

Against

For

Shareholder Proposal Number 2

Sholder

Yes

Against

For

Shareholder Proposal Number 3

Sholder

Yes

Against

For

Shareholder Proposal Number 4

Sholder

Yes

Against

For

Granite Construction Incorporated

GVA

387328107

05/23/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Equity Incentive Plan

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Fidelity National Financial, Inc.

FNF

31620R105

05/23/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

The Western Union Company

WU

959802109

05/23/12

Directors

Issuer

Yes

For

For

Amend Certificate of Incorporation to Declassify Board

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amendments to the Long-Term Incentive Plan

Issuer

Yes

For

For

Proposal re: Stockholder Proxy Access

Sholder

Yes

Against

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Vishay Intertechnology, Inc.

VSH

928298108

05/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Reapprove Cash Bonus Plan

Issuer

Yes

For

For

Martin Marietta Materials, Inc.

MLM

573284106

05/24/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Bunge Limited

BG

G16962105

05/25/12

Directors

Issuer

Yes

For

For

Appointment of the Auditor

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Silgan Holdings Inc.

SLGN

827048109

05/29/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Chevron Corporation

CVX

166764-100

05/30/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Proposal re: Exclusive Forum Provisions

Sholder

Yes

Against

For

Proposal re: Require an Independent Chairman

Sholder

Yes

Against

For

Proposal re: Lobbying Policies and Practices

Sholder

Yes

Against

For

Proposal re: Country Selection Guidelines

Sholder

Yes

Against

For

Proposal re: Hydraulic Fracturing

Sholder

Yes

Against

For

Proposal re: Accident Risk Mitigation

Sholder

Yes

Against

For

Proposal re: Special Shareowner Meetings

Sholder

Yes

Against

For

Proposal re: Independent Director with Environmental Expertise

Sholder

Yes

Against

For

Lowe’s Companies, Inc.

LOW

548661107

06/01/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Approve Amended Employee Stock Purchase Plan

Issuer

Yes

For

For

Proposal re: Political Contributions

Sholder

Yes

Against

For

Proposal re: Executive Severance Agreements

Sholder

Yes

Against

For

Proposal re: Executive Equity Retention Policy

Sholder

Yes

Against

For

Uti Worldwide Inc.

UTIW

G87210103

06/11/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Dollar Tree, Inc.

DLTR

256746108

06/14/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Jos. A. Bank Clothiers, Inc.

JOSB

480838101

06/15/12

Directors

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

VeriFone Systems, Inc.

PAY

92342Y109

06/27/12

Directors

Issuer

Yes

For

For

Advisory Vote on Executive Compensation

Issuer

Yes

For

For

Ratify Independent Registered Public Accounting Firm

Issuer

Yes

For

For

API Trust

Master Allocation Fund

Proxy Voting Record

July 1, 2011 - June 30, 2012

Issuer

Ticker

CUSIP

Meeting
Date

Matter Voted On

Proposed By

Vote

Cast

Vote

For or
Against
Mgt.

There were no matters relating to a portfolio security considered at any shareholder meeting held during the period covered by this report and with respect to which the registrant was entitled to 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.


AMERICAN PENSION INVESTORS TRUST

By:		/s/ David D. Basten
		David D. Basten, President

Date:		August 30, 2012