Software |
10.5 | % | ||
Specialty Retail |
7.5 | |||
Internet Software & Services |
5.7 | |||
Aerospace & Defense |
4.1 | |||
Chemicals |
4.1 | |||
Machinery |
4.0 | |||
Textiles, Apparel & Luxury Goods |
3.9 | |||
Energy Equipment & Services |
3.8 | |||
Hotels, Restaurants & Leisure |
3.6 | |||
Health Care Technology |
3.1 |
Alexion Pharmaceuticals, Inc. |
2.3 | % | ||
Tractor Supply Co. |
2.0 | |||
Dollar Tree, Inc. |
1.9 | |||
Monster Beverage Corp. |
1.9 | |||
Ulta Salon, Cosmetics & Fragrance, Inc. |
1.9 | |||
Concho Resources, Inc. |
1.8 | |||
TransDigm Group, Inc. |
1.8 | |||
Chipotle Mexican Grill, Inc., Cl. A |
1.7 | |||
SXC Health Solutions Corp. |
1.6 | |||
Rackspace Hosting, Inc. |
1.6 |
Beginning | Ending | Expenses | ||||||||||
Account | Account | Paid During | ||||||||||
Value | Value | 6 Months Ended | ||||||||||
Actual | November 1, 2011 | April 30, 2012 | April 30, 2012 | |||||||||
Class A |
$ | 1,000.00 | $ | 1,141.00 | $ | 7.85 | ||||||
Class B |
1,000.00 | 1,135.80 | 12.87 | |||||||||
Class C |
1,000.00 | 1,136.10 | 12.23 | |||||||||
Class N |
1,000.00 | 1,139.80 | 9.40 | |||||||||
Class Y |
1,000.00 | 1,143.40 | 5.34 |
Hypothetical | ||||||||||||
(5% return before expenses) | ||||||||||||
Class A |
1,000.00 | 1,017.55 | 7.40 | |||||||||
Class B |
1,000.00 | 1,012.88 | 12.13 | |||||||||
Class C |
1,000.00 | 1,013.48 | 11.53 | |||||||||
Class N |
1,000.00 | 1,016.11 | 8.86 | |||||||||
Class Y |
1,000.00 | 1,019.89 | 5.03 |
Class | Expense Ratios | |||
Class A |
1.47 | % | ||
Class B |
2.41 | |||
Class C |
2.29 | |||
Class N |
1.76 | |||
Class Y |
1.00 |
Shares | Value | |||||||
Common Stocks97.2% |
||||||||
Consumer Discretionary19.1% |
||||||||
Auto Components0.4% |
||||||||
BorgWarner, Inc.1 |
16,350 | $ | 1,292,297 | |||||
Diversified Consumer Services0.5% |
||||||||
Sothebys |
35,610 | 1,400,185 | ||||||
Hotels, Restaurants & Leisure3.6% |
||||||||
Chipotle Mexican Grill, |
||||||||
Inc., Cl. A1 |
12,070 | 4,998,791 | ||||||
Panera Bread Co.,
Cl. A1 |
24,590 | 3,883,253 | ||||||
Tim Hortons, Inc. |
24,750 | 1,427,828 | ||||||
10,309,872 | ||||||||
Household Durables0.5% |
||||||||
D.R. Horton, Inc. |
89,620 | 1,465,287 | ||||||
Multiline Retail2.7% |
||||||||
Dollar Tree, Inc.1 |
54,150 | 5,504,889 | ||||||
Nordstrom, Inc. |
39,750 | 2,220,435 | ||||||
7,725,324 | ||||||||
Specialty Retail7.5% |
||||||||
OReilly Automotive,
Inc.1 |
27,110 | 2,859,021 | ||||||
PetSmart, Inc. |
41,070 | 2,392,738 | ||||||
Sally Beauty |
||||||||
Holdings, Inc.1 |
130,420 | 3,469,172 | ||||||
Tiffany & Co. |
29,350 | 2,009,301 | ||||||
Tractor Supply Co. |
57,890 | 5,696,955 | ||||||
Ulta Salon, Cosmetics &
Fragrance, Inc. |
61,150 | 5,392,207 | ||||||
21,819,394 | ||||||||
Textiles, Apparel & Luxury Goods3.9% |
||||||||
Fossil, Inc.1 |
20,130 | 2,630,387 | ||||||
lululemon
athletica, Inc.1 |
43,500 | 3,225,090 | ||||||
Michael Kors
Holdings Ltd.1 |
68,950 | 3,148,947 | ||||||
Under Armour, Inc.,
Cl. A1 |
22,710 | 2,223,990 | ||||||
11,228,414 | ||||||||
Consumer Staples6.8% |
||||||||
Beverages1.9% |
||||||||
Monster Beverage
Corp.1 |
84,250 | 5,472,880 | ||||||
Food & Staples Retailing2.2% |
||||||||
Fresh Market, Inc. (The)1 |
39,280 | 2,009,958 | ||||||
Whole Foods Market, Inc. |
51,100 | 4,244,877 | ||||||
6,254,835 | ||||||||
Personal Products2.7% |
||||||||
Estee Lauder Cos., Inc. (The), Cl. A |
69,990 | 4,573,847 | ||||||
Herbalife Ltd. |
48,280 | 3,395,050 | ||||||
7,968,897 | ||||||||
Energy6.5% |
||||||||
Energy Equipment & Services3.8% |
||||||||
Atwood Oceanics, Inc.1 |
54,290 | 2,406,676 | ||||||
Core Laboratories NV |
18,190 | 2,491,666 | ||||||
Oceaneering
International, Inc. |
50,820 | 2,623,837 | ||||||
Oil States
International, Inc.1 |
42,910 | 3,414,778 | ||||||
10,936,957 | ||||||||
Oil, Gas & Consumable Fuels2.7% |
||||||||
Cabot Oil & Gas Corp.,
Cl. A |
32,750 | 1,150,835 | ||||||
Concho Resources, Inc.1 |
49,190 | 5,272,184 | ||||||
Laredo Petroleum
Holdings, Inc.1 |
53,290 | 1,407,922 | ||||||
7,830,941 | ||||||||
Financials6.0% |
||||||||
Capital Markets1.7% |
||||||||
Affiliated Managers |
||||||||
Group, Inc.1 |
28,980 | 3,292,708 | ||||||
LPL Investment
Holdings, Inc.1 |
45,710 | 1,640,532 | ||||||
4,933,240 |
Shares | Value | |||||||
Commercial Banks1.7% |
||||||||
First Republic Bank1 |
44,010 | $ | 1,453,650 | |||||
Signature Bank1 |
32,730 | 2,150,034 | ||||||
SVB Financial Group1 |
21,110 | 1,352,940 | ||||||
4,956,624 | ||||||||
Insurance2.1% |
||||||||
Arthur J. Gallagher & Co. |
75,010 | 2,817,376 | ||||||
ProAssurance Corp. |
36,010 | 3,172,121 | ||||||
5,989,497 | ||||||||
Real Estate Investment Trusts0.5% |
||||||||
Digital Realty Trust, Inc. |
19,130 | 1,436,472 | ||||||
Health Care13.4% |
||||||||
Biotechnology2.8% |
||||||||
Alexion Pharmaceuticals,
Inc.1 |
73,810 | 6,666,519 | ||||||
BioMarin
Pharmaceutical, Inc.1 |
39,150 | 1,358,505 | ||||||
8,025,024 | ||||||||
Health Care Equipment & Supplies3.0% |
||||||||
Cooper Cos., Inc. (The) |
41,030 | 3,617,615 | ||||||
Edwards Lifesciences
Corp.1 |
18,920 | 1,569,792 | ||||||
IDEXX Laboratories,
Inc.1 |
24,710 | 2,172,750 | ||||||
Sirona Dental
Systems, Inc.1 |
27,690 | 1,398,622 | ||||||
8,758,779 | ||||||||
Health Care Providers & Services2.4% |
||||||||
Catalyst Health
Solutions, Inc.1 |
38,930 | 3,362,384 | ||||||
DaVita, Inc.1 |
15,820 | 1,401,336 | ||||||
HMS Holdings Corp.1 |
90,920 | 2,187,535 | ||||||
6,951,255 | ||||||||
Health Care Technology3.1% |
||||||||
Cerner Corp.1 |
53,500 | 4,338,315 | ||||||
SXC Health
Solutions Corp.1 |
51,110 | 4,629,544 | ||||||
8,967,859 | ||||||||
Pharmaceuticals2.1% |
||||||||
Perrigo Co. |
26,950 | 2,827,055 | ||||||
Salix Pharmaceuticals
Ltd.1 |
19,800 | 978,120 | ||||||
Watson Pharmaceuticals,
Inc.1 |
30,560 | 2,303,002 | ||||||
6,108,177 | ||||||||
Industrials15.7% |
||||||||
Aerospace & Defense4.1% |
||||||||
B/E Aerospace, Inc.1 |
74,320 | 3,495,270 | ||||||
Hexcel Corp.1 |
117,790 | 3,225,090 | ||||||
TransDigm Group, Inc.1 |
40,670 | 5,129,300 | ||||||
11,849,660 | ||||||||
Commercial Services & Supplies1.3% |
||||||||
Clean Harbors, Inc.1 |
30,270 | 2,065,625 | ||||||
Stericycle, Inc.1 |
19,490 | 1,687,834 | ||||||
3,753,459 | ||||||||
Electrical Equipment2.9% |
||||||||
AMETEK, Inc. |
77,335 | 3,892,271 | ||||||
Polypore International,
Inc.1 |
40,130 | 1,498,856 | ||||||
Roper Industries, Inc. |
28,270 | 2,880,713 | ||||||
8,271,840 | ||||||||
Machinery4.0% |
||||||||
Colfax Corp.1 |
50,080 | 1,697,211 | ||||||
Joy Global, Inc. |
20,240 | 1,432,385 | ||||||
Robbins & Myers, Inc. |
42,480 | 2,069,201 | ||||||
Timken Co. |
51,120 | 2,888,791 | ||||||
Wabtec Corp. |
45,050 | 3,503,989 | ||||||
11,591,577 | ||||||||
Marine0.6% |
||||||||
Kirby Corp.1 |
28,270 | 1,876,280 | ||||||
Road & Rail1.3% |
||||||||
Kansas City Southern,
Inc. |
49,610 | 3,820,962 | ||||||
Trading Companies & Distributors1.5% |
||||||||
Fastenal Co. |
27,650 | 1,294,573 | ||||||
United Rentals, Inc.1 |
63,660 | 2,971,649 | ||||||
4,266,222 |
Shares | Value | |||||||
Information Technology23.4% |
||||||||
Communications Equipment1.9% |
||||||||
Aruba Networks, Inc.1 |
120,740 | $ | 2,550,029 | |||||
F5 Networks, Inc.1 |
20,940 | 2,804,494 | ||||||
5,354,523 | ||||||||
Internet Software & Services5.7% |
||||||||
Akamai Technologies, Inc.1 |
56,230 | 1,833,098 | ||||||
Equinix, Inc.1 |
24,470 | 4,017,974 | ||||||
IAC/InterActiveCorp |
31,240 | 1,504,206 | ||||||
LinkedIn Corp., Cl. A1 |
28,710 | 3,113,600 | ||||||
Mercadolibre, Inc. |
15,080 | 1,458,839 | ||||||
Rackspace Hosting, Inc.1 |
79,150 | 4,597,824 | ||||||
16,525,541 | ||||||||
IT Services2.7% |
||||||||
Alliance Data Systems Corp.1 |
16,400 | 2,107,236 | ||||||
Teradata Corp.1 |
58,480 | 4,080,734 | ||||||
Vantiv, Inc., Cl. A1 |
76,200 | 1,716,024 | ||||||
7,903,994 | ||||||||
Semiconductors &
Semiconductor Equipment2.6% |
||||||||
Avago Technologies Ltd. |
74,460 | 2,567,381 | ||||||
Skyworks Solutions, Inc.1 |
89,100 | 2,418,174 | ||||||
Teradyne, Inc.1 |
151,700 | 2,610,757 | ||||||
7,596,312 | ||||||||
Software10.5% |
||||||||
Ariba, Inc.1 |
94,230 | 3,599,586 | ||||||
Autodesk, Inc.1 |
37,400 | 1,472,438 | ||||||
Check Point Software
Technologies Ltd.1 |
36,070 | 2,096,749 | ||||||
Citrix Systems, Inc.1 |
41,360 | 3,540,830 | ||||||
Concur Technologies,
Inc.1 |
33,460 | 1,892,498 | ||||||
Fortinet, Inc.1 |
125,860 | 3,287,463 | ||||||
MICROS Systems, Inc.1 |
37,920 | 2,154,994 | ||||||
NetSuite, Inc.1 |
28,300 | 1,255,954 | ||||||
Nuance
Communications, Inc.1 |
102,950 | 2,516,098 | ||||||
Red Hat, Inc.1 |
67,160 | 4,003,408 | ||||||
Rovi Corp.1 |
36,250 | 1,036,750 | ||||||
TIBCO Software, Inc.1 |
106,990 | 3,519,971 | ||||||
30,376,739 | ||||||||
Materials4.6% |
||||||||
Chemicals4.1% |
||||||||
Airgas, Inc. |
33,340 | 3,055,278 | ||||||
Albemarle Corp. |
25,360 | 1,656,008 | ||||||
CF Industries
Holdings, Inc. |
14,620 | 2,822,537 | ||||||
Cytec Industries, Inc. |
10,970 | 697,363 | ||||||
Sigma-Aldrich Corp. |
19,180 | 1,359,862 | ||||||
Westlake Chemical Corp. |
32,680 | 2,089,886 | ||||||
11,680,934 | ||||||||
Containers & Packaging0.5% |
||||||||
Ball Corp. |
36,220 | 1,512,547 | ||||||
Telecommunication Services1.0% |
||||||||
Wireless Telecommunication Services1.0% |
||||||||
SBA Communications
Corp.1 |
56,270 | 3,023,950 | ||||||
Utilities0.7% |
||||||||
Electric Utilities0.7% |
||||||||
ITC Holdings Corp. |
26,240 | 2,032,550 | ||||||
Total Common Stocks
(Cost $198,690,193) |
281,269,300 | |||||||
Investment Company2.8% |
||||||||
Oppenheimer Institutional
Money Market Fund,
Cl. E, 0.23%2,3
(Cost $8,160,213) |
8,160,213 | 8,160,213 | ||||||
Total Investments,
at Value
(Cost $206,850,406) |
100.0 | % | 289,429,513 | |||||
Other Assets |
||||||||
Net of Liabilities |
0.0 | 82,651 | ||||||
Net Assets |
100.0 | % | $ | 289,512,164 | ||||
1. | Non-income producing security. | |
2. | Rate shown is the 7-day yield as of April 30, 2012. | |
3. | Is or was an affiliate, as defined in the Investment Company Act of 1940, at or during the period ended April 30, 2012, by virtue of the Fund owning at least 5% of the voting securities of the issuer or as a result of the Fund and the issuer having the same investment adviser. Transactions during the period in which the issuer was an affiliate are as follows: |
Shares | Shares | |||||||||||||||
October 31, | Gross | Gross | April 30, | |||||||||||||
2011 | Additions | Reductions | 2012 | |||||||||||||
Oppenheimer Institutional Money Market Fund, Cl. E |
11,078,732 | 51,487,731 | 54,406,250 | 8,160,213 |
Value | Income | |||||||
Oppenheimer Institutional Money Market Fund, Cl. E |
$ | 8,160,213 | $ | 7,246 |
April 30, 2012 | ||||
Assets |
||||
Investments, at valuesee accompanying statement of investments: |
||||
Unaffiliated companies (cost $198,690,193) |
$ | 281,269,300 | ||
Affiliated companies (cost $8,160,213) |
8,160,213 | |||
289,429,513 | ||||
Receivables and other assets: |
||||
Investments sold |
3,077,195 | |||
Shares of beneficial interest sold |
1,029,867 | |||
Dividends |
77,738 | |||
Other |
22,467 | |||
Total assets |
293,636,780 | |||
Liabilities |
||||
Bank overdraft |
972 | |||
Payables and other liabilities: |
||||
Investments purchased |
3,202,799 | |||
Shares of beneficial interest redeemed |
739,794 | |||
Transfer and shareholder servicing agent fees |
62,490 | |||
Distribution and service plan fees |
54,002 | |||
Shareholder communications |
29,371 | |||
Trustees compensation |
18,528 | |||
Other |
16,660 | |||
Total liabilities |
4,124,616 | |||
Net Assets |
$ | 289,512,164 | ||
Composition of Net Assets |
||||
Par value of shares of beneficial interest |
$ | 21,364 | ||
Additional paid-in capital |
233,690,255 | |||
Accumulated net investment loss |
(1,617,797 | ) | ||
Accumulated net realized loss on investments |
(25,160,765 | ) | ||
Net unrealized appreciation on investments |
82,579,107 | |||
Net Assets |
$ | 289,512,164 | ||
Net Asset Value Per Share | ||||
Class A Shares: |
||||
Net asset value and redemption price per share (based on net assets of $177,396,421 and
12,815,198 shares of beneficial interest outstanding) |
$ | 13.84 | ||
Maximum offering price per share (net asset value plus sales charge of 5.75% of offering price) |
$ | 14.68 | ||
Class B Shares: |
||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge)
and offering price per share (based on net assets of $18,192,641 and 1,459,822 shares
of beneficial interest outstanding) |
$ | 12.46 | ||
Class C Shares: |
||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge)
and offering price per share (based on net assets of $50,314,762 and 4,019,342 shares
of beneficial interest outstanding) |
$ | 12.52 | ||
Class N Shares: |
||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge)
and offering price per share (based on net assets of $17,417,633 and 1,303,015 shares
of beneficial interest outstanding) |
$ | 13.37 | ||
Class Y Shares: |
||||
Net asset value, redemption price and offering price per share (based on net assets of
$26,190,707 and 1,766,273 shares of beneficial interest outstanding) |
$ | 14.83 |
For the Six Months Ended April 30, 2012 | ||||
Investment Income |
||||
Dividends: |
||||
Unaffiliated companies (net of foreign withholding taxes of $2,810) |
$ | 495,489 | ||
Affiliated companies |
7,246 | |||
Interest |
118 | |||
Total investment income |
502,853 | |||
Expenses |
||||
Management fees |
1,129,899 | |||
Distribution and service plan fees: |
||||
Class A |
190,569 | |||
Class B |
82,489 | |||
Class C |
217,978 | |||
Class N |
39,863 | |||
Transfer and shareholder servicing agent fees: |
||||
Class A |
259,149 | |||
Class B |
47,378 | |||
Class C |
82,122 | |||
Class N |
26,275 | |||
Class Y |
8,549 | |||
Shareholder communications: |
||||
Class A |
22,644 | |||
Class B |
4,457 | |||
Class C |
5,941 | |||
Class N |
1,576 | |||
Class Y |
569 | |||
Trustees compensation |
2,306 | |||
Administration service fees |
750 | |||
Custodian fees and expenses |
594 | |||
Other |
22,969 | |||
Total expenses |
2,146,077 | |||
Less waivers and reimbursements of expenses |
(43,978 | ) | ||
Net expenses |
2,102,099 | |||
Net Investment Loss |
(1,599,246 | ) | ||
Realized and Unrealized Gain |
||||
Net realized gain on investments from unaffiliated companies |
812,741 | |||
Net change in unrealized appreciation/depreciation on investments |
35,189,483 | |||
Net Increase in Net Assets Resulting from Operations |
$ | 34,402,978 | ||
Six Months | Year | |||||||
Ended | Ended | |||||||
April 30, 2012 | October 31, | |||||||
(Unaudited) | 2011 | |||||||
| | | | |||||||
Operations |
||||||||
Net investment loss |
$ | (1,599,246 | ) | $ | (2,978,028 | ) | ||
Net realized gain |
812,741 | 6,891,190 | ||||||
Net change in unrealized appreciation/depreciation |
35,189,483 | 11,579,746 | ||||||
Net increase in net assets resulting from operations |
34,402,978 | 15,492,908 | ||||||
Beneficial Interest Transactions |
||||||||
Net increase (decrease) in net assets resulting from beneficial
interest transactions: |
||||||||
Class A |
8,347,779 | 55,171,565 | ||||||
Class B |
(85,679 | ) | 3,632,562 | |||||
Class C |
4,041,440 | 14,157,058 | ||||||
Class N |
(523,781 | ) | 2,103,496 | |||||
Class Y |
6,017,469 | 11,015,187 | ||||||
17,797,228 | 86,079,868 | |||||||
Net Assets |
||||||||
Total increase |
52,200,206 | 101,572,776 | ||||||
Beginning of period |
237,311,958 | 135,739,182 | ||||||
End of period (including accumulated net investment loss of
$1,617,797 and $18,551, respectively) |
$ | 289,512,164 | $ | 237,311,958 | ||||
Six Months | ||||||||||||||||||||||||
Ended | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
April 30, 2012 | October 31, | October 29, | October 31, | October 31, | October 31, | |||||||||||||||||||
Class A | (Unaudited) | 2011 | 20101 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 12.13 | $ | 10.57 | $ | 8.31 | $ | 8.11 | $ | 14.55 | $ | 11.72 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment loss2 |
(.07 | ) | (.15 | ) | (.11 | ) | (.08 | ) | (.11 | ) | (.16 | ) | ||||||||||||
Net realized and unrealized gain (loss) |
1.78 | 1.71 | 2.37 | .28 | (4.69 | ) | 3.63 | |||||||||||||||||
Total from investment operations |
1.71 | 1.56 | 2.26 | .20 | (4.80 | ) | 3.47 | |||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Distributions from net realized gain |
| | | | (1.64 | ) | (.64 | ) | ||||||||||||||||
Net asset value, end of period |
$ | 13.84 | $ | 12.13 | $ | 10.57 | $ | 8.31 | $ | 8.11 | $ | 14.55 | ||||||||||||
Total Return, at Net Asset Value3 |
14.10 | % | 14.76 | % | 27.20 | % | 2.47 | % | (36.60 | )% | 31.11 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 177,396 | $ | 147,699 | $ | 83,169 | $ | 61,367 | $ | 63,679 | $ | 84,494 | ||||||||||||
Average net assets (in thousands) |
$ | 158,238 | $ | 132,902 | $ | 71,047 | $ | 57,232 | $ | 81,084 | $ | 70,134 | ||||||||||||
Ratios to average net assets:4 |
||||||||||||||||||||||||
Net investment loss |
(1.08 | )% | (1.23 | )% | (1.18 | )% | (1.10 | )% | (1.01 | )% | (1.30 | )% | ||||||||||||
Total expenses5 |
1.51 | % | 1.54 | % | 1.77 | % | 1.85 | % | 1.57 | % | 1.59 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
1.47 | % | 1.54 | % | 1.62 | % | 1.46 | % | 1.40 | % | 1.54 | % | ||||||||||||
Portfolio turnover rate |
37 | % | 99 | % | 103 | % | 143 | % | 134 | % | 232 | % |
1. | October 29, 2010 represents the last business day of the Funds 2010 fiscal year. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended April 30, 2012 |
1.51 | % | ||
Year Ended October 31, 2011 |
1.54 | % | ||
Year Ended October 29, 2010 |
1.77 | % | ||
Year Ended October 31, 2009 |
1.85 | % | ||
Year Ended October 31, 2008 |
1.58 | % | ||
Year Ended October 31, 2007 |
1.59 | % |
Six Months | ||||||||||||||||||||||||
Ended | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
April 30, 2012 | October 31, | October 29, | October 31, | October 31, | October 31, | |||||||||||||||||||
Class B | (Unaudited) | 2011 | 20101 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 10.97 | $ | 9.63 | $ | 7.64 | $ | 7.51 | $ | 13.71 | $ | 11.16 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment loss2 |
(.11 | ) | (.22 | ) | (.17 | ) | (.13 | ) | (.18 | ) | (.24 | ) | ||||||||||||
Net realized and unrealized gain (loss) |
1.60 | 1.56 | 2.16 | .26 | (4.38 | ) | 3.43 | |||||||||||||||||
Total from investment operations |
1.49 | 1.34 | 1.99 | .13 | (4.56 | ) | 3.19 | |||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Distributions from net realized gain |
| | | | (1.64 | ) | (.64 | ) | ||||||||||||||||
Net asset value, end of period |
$ | 12.46 | $ | 10.97 | $ | 9.63 | $ | 7.64 | $ | 7.51 | $ | 13.71 | ||||||||||||
Total Return, at Net Asset Value3 |
13.58 | % | 13.92 | % | 26.05 | % | 1.73 | % | (37.16 | )% | 30.12 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 18,193 | $ | 16,113 | $ | 11,066 | $ | 11,528 | $ | 14,441 | $ | 24,800 | ||||||||||||
Average net assets (in thousands) |
$ | 16,694 | $ | 15,321 | $ | 10,890 | $ | 11,863 | $ | 20,882 | $ | 21,737 | ||||||||||||
Ratios to average net assets:4 |
||||||||||||||||||||||||
Net investment loss |
(2.01 | )% | (2.02 | )% | (1.97 | )% | (1.92 | )% | (1.79 | )% | (2.09 | )% | ||||||||||||
Total expenses5 |
2.53 | % | 2.58 | % | 2.88 | % | 2.94 | % | 2.40 | % | 2.45 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
2.41 | % | 2.34 | % | 2.42 | % | 2.29 | % | 2.19 | % | 2.34 | % | ||||||||||||
Portfolio turnover rate |
37 | % | 99 | % | 103 | % | 143 | % | 134 | % | 232 | % |
1. | October 29, 2010 represents the last business day of the Funds 2010 fiscal year. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended April 30, 2012 |
2.53 | % | ||
Year Ended October 31, 2011 |
2.58 | % | ||
Year Ended October 29, 2010 |
2.88 | % | ||
Year Ended October 31, 2009 |
2.94 | % | ||
Year Ended October 31, 2008 |
2.41 | % | ||
Year Ended October 31, 2007 |
2.45 | % |
Six Months | ||||||||||||||||||||||||
Ended | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
April 30, 2012 | October 31, | October 29, | October 31, | October 31, | October 31, | |||||||||||||||||||
Class C | (Unaudited) | 2011 | 20101 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 11.02 | $ | 9.67 | $ | 7.66 | $ | 7.53 | $ | 13.74 | $ | 11.18 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment loss2 |
(.11 | ) | (.22 | ) | (.17 | ) | (.13 | ) | (.18 | ) | (.24 | ) | ||||||||||||
Net realized and unrealized gain (loss) |
1.61 | 1.57 | 2.18 | .26 | (4.39 | ) | 3.44 | |||||||||||||||||
Total from investment operations |
1.50 | 1.35 | 2.01 | .13 | (4.57 | ) | 3.20 | |||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Distributions from net realized gain |
| | | | (1.64 | ) | (.64 | ) | ||||||||||||||||
Net asset value, end of period |
$ | 12.52 | $ | 11.02 | $ | 9.67 | $ | 7.66 | $ | 7.53 | $ | 13.74 | ||||||||||||
Total Return, at Net Asset Value3 |
13.61 | % | 13.96 | % | 26.24 | % | 1.73 | % | (37.15 | )% | 30.16 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 50,315 | $ | 40,485 | $ | 23,583 | $ | 18,702 | $ | 19,351 | $ | 23,294 | ||||||||||||
Average net assets (in thousands) |
$ | 43,992 | $ | 35,471 | $ | 21,239 | $ | 17,362 | $ | 23,831 | $ | 18,644 | ||||||||||||
Ratios to average net assets:4 |
||||||||||||||||||||||||
Net investment loss |
(1.90 | )% | (1.99 | )% | (1.93 | )% | (1.87 | )% | (1.78 | )% | (2.07 | )% | ||||||||||||
Total expenses5 |
2.31 | % | 2.34 | % | 2.57 | % | 2.73 | % | 2.36 | % | 2.41 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
2.29 | % | 2.30 | % | 2.37 | % | 2.23 | % | 2.17 | % | 2.31 | % | ||||||||||||
Portfolio turnover rate |
37 | % | 99 | % | 103 | % | 143 | % | 134 | % | 232 | % |
1. | October 29, 2010 represents the last business day of the Funds 2010 fiscal year. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended April 30, 2012 |
2.31 | % | ||
Year Ended October 31, 2011 |
2.34 | % | ||
Year Ended October 29, 2010 |
2.57 | % | ||
Year Ended October 31, 2009 |
2.73 | % | ||
Year Ended October 31, 2008 |
2.37 | % | ||
Year Ended October 31, 2007 |
2.41 | % |
Six Months | ||||||||||||||||||||||||
Ended | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
April 30, 2012 | October 31, | October 29, | October 31, | October 31, | October 31, | |||||||||||||||||||
Class N | (Unaudited) | 2011 | 20101 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 11.73 | $ | 10.24 | $ | 8.08 | $ | 7.90 | $ | 14.25 | $ | 11.52 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment loss2 |
(.08 | ) | (.17 | ) | (.13 | ) | (.10 | ) | (.14 | ) | (.19 | ) | ||||||||||||
Net realized and unrealized gain (loss) |
1.72 | 1.66 | 2.29 | .28 | (4.57 | ) | 3.56 | |||||||||||||||||
Total from investment operations |
1.64 | 1.49 | 2.16 | .18 | (4.71 | ) | 3.37 | |||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Distributions from net realized gain |
| | | | (1.64 | ) | (.64 | ) | ||||||||||||||||
Net asset value, end of period |
$ | 13.37 | $ | 11.73 | $ | 10.24 | $ | 8.08 | $ | 7.90 | $ | 14.25 | ||||||||||||
Total Return, at Net Asset Value3 |
13.98 | % | 14.55 | % | 26.73 | % | 2.28 | % | (36.76 | )% | 30.77 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 17,417 | $ | 15,818 | $ | 12,007 | $ | 9,141 | $ | 8,107 | $ | 9,138 | ||||||||||||
Average net assets (in thousands) |
$ | 16,104 | $ | 15,322 | $ | 10,371 | $ | 7,904 | $ | 9,889 | $ | 7,901 | ||||||||||||
Ratios to average net assets:4 |
||||||||||||||||||||||||
Net investment loss |
(1.36 | )% | (1.47 | )% | (1.43 | )% | (1.35 | )% | (1.27 | )% | (1.55 | )% | ||||||||||||
Total expenses5 |
1.76 | % | 1.82 | % | 2.07 | % | 2.24 | % | 1.87 | % | 1.92 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
1.76 | % | 1.79 | % | 1.86 | % | 1.71 | % | 1.65 | % | 1.79 | % | ||||||||||||
Portfolio turnover rate |
37 | % | 99 | % | 103 | % | 143 | % | 134 | % | 232 | % |
1. | October 29, 2010 represents the last business day of the Funds 2010 fiscal year. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended April 30, 2012 |
1.76 | % | ||
Year Ended October 31, 2011 |
1.82 | % | ||
Year Ended October 29, 2010 |
2.07 | % | ||
Year Ended October 31, 2009 |
2.24 | % | ||
Year Ended October 31, 2008 |
1.88 | % | ||
Year Ended October 31, 2007 |
1.92 | % |
Six Months | ||||||||||||||||||||||||
Ended | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
April 30, 2012 | October 31, | October 29, | October 31, | October 31, | October 31, | |||||||||||||||||||
Class Y | (Unaudited) | 2011 | 20101 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period |
$ | 12.97 | $ | 11.23 | $ | 8.78 | $ | 8.52 | $ | 15.12 | $ | 12.08 | ||||||||||||
Income (loss) from investment operations: |
||||||||||||||||||||||||
Net investment loss2 |
(.04 | ) | (.09 | ) | (.06 | ) | (.04 | ) | (.05 | ) | (.09 | ) | ||||||||||||
Net realized and unrealized gain (loss) |
1.90 | 1.83 | 2.51 | .30 | (4.91 | ) | 3.77 | |||||||||||||||||
Total from investment operations |
1.86 | 1.74 | 2.45 | .26 | (4.96 | ) | 3.68 | |||||||||||||||||
Dividends and/or distributions
to shareholders: |
||||||||||||||||||||||||
Distributions from net realized gain |
| | | | (1.64 | ) | (.64 | ) | ||||||||||||||||
Net asset value, end of period |
$ | 14.83 | $ | 12.97 | $ | 11.23 | $ | 8.78 | $ | 8.52 | $ | 15.12 | ||||||||||||
Total Return, at Net Asset Value3 |
14.34 | % | 15.49 | % | 27.90 | % | 3.05 | % | (36.24 | )% | 31.96 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) |
$ | 26,191 | $ | 17,197 | $ | 5,914 | $ | 3,835 | $ | 2,794 | $ | 3,742 | ||||||||||||
Average net assets (in thousands) |
$ | 20,583 | $ | 13,251 | $ | 4,904 | $ | 3,294 | $ | 3,533 | $ | 3,323 | ||||||||||||
Ratios to average net assets:4 |
||||||||||||||||||||||||
Net investment loss |
(0.60 | )% | (0.72 | )% | (0.61 | )% | (0.50 | )% | (0.39 | )% | (0.68 | )% | ||||||||||||
Total expenses5 |
1.00 | % | 1.01 | % | 1.04 | % | 1.02 | % | 0.95 | % | 0.94 | % | ||||||||||||
Expenses after payments, waivers and/or
reimbursements and reduction
to custodian expenses |
1.00 | % | 1.01 | % | 1.04 | % | 0.86 | % | 0.78 | % | 0.91 | % | ||||||||||||
Portfolio turnover rate |
37 | % | 99 | % | 103 | % | 143 | % | 134 | % | 232 | % |
1. | October 29, 2010 represents the last business day of the Funds 2010 fiscal year. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended April 30, 2012 |
1.00 | % | ||
Year Ended October 31, 2011 |
1.01 | % | ||
Year Ended October 29, 2010 |
1.04 | % | ||
Year Ended October 31, 2009 |
1.02 | % | ||
Year Ended October 31, 2008 |
0.96 | % | ||
Year Ended October 31, 2007 |
0.94 | % |
Expiring | ||||
2017 |
$ | 23,572,405 |
Federal tax cost of securities |
$ | 206,850,406 | ||
Gross unrealized appreciation |
$ | 84,784,096 | ||
Gross unrealized depreciation |
(2,204,989 | ) | ||
Net unrealized appreciation |
$ | 82,579,107 | ||
Projected Benefit Obligations Increased |
$ | 439 | ||
Payments Made to Retired Trustees |
1,229 | |||
Accumulated Liability as of April 30, 2012 |
8,555 |
Standard inputs generally considered | ||
Security Type | by third-party pricing vendors | |
Corporate debt, government
debt, municipal, mortgage-backed
and asset-backed securities
|
Reported trade data, broker-dealer price quotations, benchmark yields, issuer spreads on comparable securities, the credit quality, yield, maturity, and other appropriate factors. | |
Loans
|
Information obtained from market participants regarding reported trade data and broker-dealer price quotations. | |
Event-linked bonds
|
Information obtained from market participants regarding reported trade data and broker-dealer price quotations. |
1) | Level 1unadjusted quoted prices in active markets for identical assets or liabilities (including securities actively traded on a securities exchange) | ||
2) | Level 2inputs other than unadjusted quoted prices that are observable for the asset or liability (such as unadjusted quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.) | ||
3) | Level 3significant unobservable inputs (including the Managers own judgments about assumptions that market participants would use in pricing the asset or liability). |
Level 3 | ||||||||||||||||
Level 1 | Level 2 | Significant | ||||||||||||||
Unadjusted | Other Significant | Unobservable | ||||||||||||||
Quoted Prices | Observable Inputs | Inputs | Value | |||||||||||||
Assets Table |
||||||||||||||||
Investments, at Value: |
||||||||||||||||
Common Stocks |
||||||||||||||||
Consumer Discretionary |
$ | 55,240,773 | $ | | $ | | $ | 55,240,773 | ||||||||
Consumer Staples |
19,696,612 | | | 19,696,612 | ||||||||||||
Energy |
18,767,898 | | | 18,767,898 | ||||||||||||
Financials |
17,315,833 | | | 17,315,833 | ||||||||||||
Health Care |
38,811,094 | | | 38,811,094 | ||||||||||||
Industrials |
45,430,000 | | | 45,430,000 | ||||||||||||
Information Technology |
67,757,109 | | | 67,757,109 | ||||||||||||
Materials |
13,193,481 | | | 13,193,481 | ||||||||||||
Telecommunication Services |
3,023,950 | | | 3,023,950 | ||||||||||||
Utilities |
2,032,550 | | | 2,032,550 | ||||||||||||
Investment Company |
8,160,213 | | | 8,160,213 | ||||||||||||
Total Assets |
$ | 289,429,513 | $ | | $ | | $ | 289,429,513 | ||||||||
Six Months Ended April 30, 2012 | Year Ended October 31, 2011 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class A |
||||||||||||||||
Sold |
2,660,883 | $ | 33,903,727 | 9,932,988 | $ | 123,370,124 | ||||||||||
Redeemed |
(2,019,026 | ) | (25,555,948 | ) | (5,630,100 | ) | (68,198,559 | ) | ||||||||
Net increase |
641,857 | $ | 8,347,779 | 4,302,888 | $ | 55,171,565 | ||||||||||
Class B |
||||||||||||||||
Sold |
312,472 | $ | 3,614,605 | 896,688 | $ | 10,067,262 | ||||||||||
Redeemed |
(320,889 | ) | (3,700,284 | ) | (577,019 | ) | (6,434,700 | ) | ||||||||
Net increase (decrease) |
(8,417 | ) | $ | (85,679 | ) | 319,669 | $ | 3,632,562 | ||||||||
Class C |
||||||||||||||||
Sold |
904,764 | $ | 10,445,815 | 2,378,152 | $ | 26,710,271 | ||||||||||
Redeemed |
(560,223 | ) | (6,404,375 | ) | (1,142,456 | ) | (12,553,213 | ) | ||||||||
Net increase |
344,541 | $ | 4,041,440 | 1,235,696 | $ | 14,157,058 | ||||||||||
Class N |
||||||||||||||||
Sold |
217,894 | $ | 2,681,355 | 744,536 | $ | 8,873,609 | ||||||||||
Redeemed |
(263,132 | ) | (3,205,136 | ) | (568,423 | ) | (6,770,113 | ) | ||||||||
Net increase (decrease) |
(45,238 | ) | $ | (523,781 | ) | 176,113 | $ | 2,103,496 | ||||||||
Class Y |
||||||||||||||||
Sold |
705,430 | $ | 9,651,342 | 1,398,568 | $ | 18,563,631 | ||||||||||
Redeemed |
(265,374 | ) | (3,633,873 | ) | (598,840 | ) | (7,548,444 | ) | ||||||||
Net increase |
440,056 | $ | 6,017,469 | 799,728 | $ | 11,015,187 | ||||||||||
Purchases | Sales | |||||||
Investment securities |
$ | 111,376,608 | $ | 92,195,280 |
Fee Schedule | ||||||||
Up to $200 million |
0.90 | % | ||||||
Next $200 million |
0.85 | |||||||
Next $200 million |
0.80 | |||||||
Over $600 million |
0.75 |
Class C |
$ | 570,610 | ||
Class N |
222,173 |
Class A | Class B | Class C | Class N | |||||||||||||||||
Class A | Contingent | Contingent | Contingent | Contingent | ||||||||||||||||
Front-End | Deferred | Deferred | Deferred | Deferred | ||||||||||||||||
Sales Charges | Sales Charges | Sales Charges | Sales Charges | Sales Charges | ||||||||||||||||
Six Months | Retained by | Retained by | Retained by | Retained by | Retained by | |||||||||||||||
Ended | Distributor | Distributor | Distributor | Distributor | Distributor | |||||||||||||||
April 30, 2012 |
$ | 75,459 | $ | 1,149 | $ | 16,033 | $ | 5,284 | $ | 285 | ||||||||||
Class A |
$ | 27,746 | ||
Class B |
9,729 | |||
Class C |
3,033 |
Trustees and Officers
|
Brian F. Wruble, Chairman of the Board of Trustees and Trustee | |
David K. Downes, Trustee | ||
Matthew P. Fink, Trustee | ||
Phillip A. Griffiths, Trustee | ||
Mary F. Miller, Trustee | ||
Joel W. Motley, Trustee | ||
Mary Ann Tynan, Trustee | ||
Joseph M. Wikler, Trustee | ||
Peter I. Wold, Trustee | ||
William F. Glavin, Jr., President and Principal Executive Officer | ||
Ronald J. Zibelli, Jr., Vice President | ||
Arthur S. Gabinet, Secretary and Chief Legal Officer | ||
Christina M. Nasta, Vice President and Chief Business Officer | ||
Mark S. Vandehey, Vice President and Chief Compliance Officer | ||
Brian W. Wixted, Treasurer and Principal Financial & Accounting Officer | ||
Manager
|
OppenheimerFunds, Inc. | |
Distributor
|
OppenheimerFunds Distributor, Inc. | |
Transfer and Shareholder
Servicing Agent
|
OppenheimerFunds Services | |
Independent
Registered Public
Accounting Firm
|
KPMG llp | |
Legal Counsel
|
Kramer Levin Naftalis & Frankel LLP | |
The financial statements included herein have been taken from the records of the Fund without examination of those records by the independent registered public accounting firm. |
| Applications or other forms | |
| When you create a user ID and password for online account access | |
| When you enroll in eDocs Direct, our electronic document delivery service | |
| Your transactions with us, our affiliates or others | |
| A software program on our website, often referred to as a cookie, which indicates which parts of our site youve visited | |
| When you set up challenge questions to reset your password online |
| All transactions, including redemptions, exchanges and purchases, are secured by SSL and 128-bit encryption. SSL is used to establish a secure connection between your PC and OppenheimerFunds server. It transmits information in an encrypted and scrambled format. | |
| Encryption is achieved through an electronic scrambling technology that uses a key to code and then decode the data. Encryption acts like the cable converter box you may have on your television set. It scrambles data with a secret code so that no one can make sense of it while it is being transmitted. When the data reaches its destination, the same software unscrambles the data. | |
| You can exit the secure area by either closing your browser, or for added security, you can use the Log Out button before you close your browser. |
1. | The Funds Governance Committee (the Committee) will evaluate potential Board candidates to assess their qualifications. The Committee shall have the authority, upon approval of the Board, to retain an executive search firm to assist in this effort. The Committee may consider recommendations by business and personal contacts of current Board members and by executive search firms which the Committee may engage from time to time and may also consider shareholder recommendations. The Committee may consider the advice and recommendation of the Funds investment manager and its affiliates in making the selection. |
2. | The Committee shall screen candidates for Board membership. The Committee has not established specific qualifications that it believes must be met by a trustee nominee. In evaluating trustee nominees, the Committee considers, among other things, an individuals background, skills, and experience; whether the individual is an interested person as defined in the Investment Company Act of 1940; and whether the individual would be deemed an audit committee financial expert within the meaning of applicable SEC rules. The Committee also considers whether the individuals background, skills, and experience will complement the background, skills, and experience of other nominees and will contribute to the Board. There are no differences in the manner in which the Committee evaluates nominees for trustees based on whether the nominee is recommended by a shareholder. |
3. | The Committee may consider nominations from shareholders for the Board at such times as the Committee meets to consider new nominees for the Board. The Committee shall have the sole discretion to determine the candidates to present to the Board and, in such cases where required, to shareholders. Recommendations for trustee nominees should, at a minimum, be accompanied by the following: |
| the name, address, and business, educational, and/or other pertinent background of the person being recommended; | ||
| a statement concerning whether the person is an interested person as defined in the Investment Company Act of 1940; | ||
| any other information that the Funds would be required to include in a proxy statement concerning the person if he or she was nominated; and | ||
| the name and address of the person submitting the recommendation and, if that person is a shareholder, the period for which that person held Fund shares. |
4. | Shareholders should note that a person who owns securities issued by Massachusetts Mutual Life Insurance Company (the parent company of the Funds investment adviser) would be deemed an interested person under the Investment Company Act of 1940. In addition, certain other relationships with Massachusetts Mutual Life Insurance Company or its subsidiaries, with registered broker-dealers, or with the Funds outside legal counsel may cause a person to be deemed an interested person. |
5. | Before the Committee decides to nominate an individual as a trustee, Committee members and other directors customarily interview the individual in person. In addition, the individual customarily is asked to complete a detailed questionnaire which is designed to elicit information which must be disclosed under SEC and stock exchange rules and to determine whether the individual is subject to any statutory disqualification from serving as a trustee of a registered investment company. |
(a) | (1) Not applicable to semiannual reports. |
(2) Exhibits attached hereto. |
(3) Not applicable. |
(b) | Exhibit attached hereto. |
By: | /s/ William F. Glavin, Jr. | |||
William F. Glavin, Jr. | ||||
Principal Executive Officer | ||||
By: | /s/ William F. Glavin, Jr. | |||
William F. Glavin, Jr. | ||||
Principal Executive Officer | ||||
By: | /s/ Brian W. Wixted | |||
Brian W. Wixted | ||||
Principal Financial Officer | ||||
1. | I have reviewed this report on Form N-CSR of Oppenheimer Small- & Mid-Cap Growth Fund; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | ||
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this |
report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of Trustees (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and | ||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ William F. Glavin, Jr. | ||||
William F. Glavin, Jr. | ||||
Principal Executive Officer |
1. | I have reviewed this report on Form N-CSR of Oppenheimer Small- & Mid-Cap Growth Fund; |
2. | Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; |
3. | Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
(a) | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; | ||
(b) | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; | ||
(c) | Evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and | ||
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of Trustees (or persons performing the equivalent functions): |
(a) | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process, summarize, and report financial information; and | ||
(b) | Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
/s/ Brian W. Wixted | ||||
Brian W. Wixted | ||||
Principal Financial Officer |
1. | The Registrants periodic report on Form N-CSR for the period ended 4/30/2012 (the Form N-CSR) fully complies with the requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended; and |
2. | The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. This certification is being furnished to the Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR filed with the Commission. |
Principal Executive Officer
|
Principal Financial Officer | |||
Oppenheimer Small- & Mid-Cap Growth Fund |
Oppenheimer Small- & Mid-Cap Growth Fund |
|||
/s/ William F. Glavin, Jr.
|
/s/ Brian W. Wixted | |||
William F. Glavin, Jr.
|
Brian W. Wixted | |||
Date: 6/11/2012
|
Date: 6/11/2012 |
BM0@VLOP`)[
M0*]">?[.].9``U\0=[SOG0,**'K5*$C[:2F0`T73^\)1$``; *HV^(:YA'(D30.3^X+=@8B
MI.X%!ABH"L #O4MZP"$`Q#^!_8Z`04%@!J5_BF90"-&BQA<"<5P(
M%$BJ"@H4_G(DLKBF`(T+0*+\L%4H2@4V;&`(LO@29DR9,VG6M'D3YTQ*8`CX
M\_D3:%"A0XD6+1IH00$!&MR@,_#T1P(*_A8(&(H"C+\O@8SZ0[H`_TR.!P]R
M5%CPI:L_`AIR$!!002@!&!3 `+
MULMNE[UL*!>@H``/B(E!+$&QZ'K``!TP"`LNQ@,952(N_EB`4ZC4WH,4,GGV
M6(`>7K``-'A!"CLP+4:R8+8<>&`JP8(!@H$``X-D0@"A(T4@UO0/2%``QI?`
MXV`DL8<$_./_"NOX!X:-3`$-!HL&`BC!/]`0"!XEX`&UP`@$%F#/.GC@C09Y
MA0;24%,@YZ!R!PBU3"K0B4HL0"?\*$`8FE"`/F@!`U"(@B%H$`4?N.L?+_B"
MR;[\;7!KZ0P,L<,]?U`!,P`T!AYX`!6K(H`HQ(%'+L"#K_A0)3PO\X@&"<"6
MF?T`(!Q@!E<(`482R0%\)*`"XVERH_]!@P50X1?D\L(_("G)1^3@!_\(`0&:
MIA4=$"`$#_"2?7$`@"^D^Q^F>`(%LJ8Y!<#A#Y[X0A^HLH8%Y'('!9">0090
M@^P-.0="%OA!^H""X,Q@#_^(`07^<80"4#<-!W!`!/`AIQJXAMNE_PEWU[T>
M)5STJ@)V=L$>HM`"@T2B"#%DP3^80"`D
MP"%>40O:R@(`V3]`0!C^10%0YA0:#PW(B0;810'XP4.H`1[`P;*0%ASL04#^
M`VS!10Y$0-T-TA>DHT'0`NMT4BX-@UFLI3_4C1-$P9CDB5>@W#\`0Q+LW!HR7&1GO[KS
M.T$?]JN;.D_?=:GTP9?FS4D/NIZ+\V@GNO/\1!^!PUCI1HITEBA&PFM>%!J!
MA'9W]W>'=W>7!$CG.&;W]K`ALY.<$5MO:7"O]4)TZ>]'(D613;X40BDO980"FMG:\NVH.BWN1^/>TFD"G:.I'FR07G&Q6Q;MK4
ML@8*?H]B,9MH\"=,F?6A6PV51@`;V#8I-:^Y`[&P!I@GCW;U`SM=[&>O!&25
M,W1/++@69T/;A`>1DR0BX>UO@SO6V*3@"!;$&[UR2(\`Z'^=:[0*RL.,P9^GN;.SZR>HI0A:"+[.JY)Z>ZMBR
M'2
_!GR:C?-7KT?>!R:HTMS.(>Q^4W/X-Q3\2H/0PO&3F\U
6]D%()RD#-U8PC4T!2SV`+F#40
M0*P0&)`)X;S2#I`)F5`+4J``D.`$%O\`M_G[K?:V;\=F`5+P>IC!*/;,NR90
M,A6A``/@`E,P!VDPS06A3_QD4[V0`0%0`KPP"SQ``@/P!@V0!P(0!,($#`H`
ME_AP`HHU"#IP!+P@`A75!'<0#RM0`27HT>WAG_^@#(@0#5!P#"M`!I\85@YQ
M!2K-TBM-Q#[0!Q2`#66``'7P!/A[KSX7@\<&!H%@!&M1!/`1U*ZL!Q>A#1.@
M"ARP#@F!"L4@`^MA.#)7"I70`14P+W\`!'X`!P5P`"H0!C?!HN!0`/%0)@90
M`$N``5OP!CS0"8F@`LK`,W+-'AS0,GIC"LKG`=$A$([@N0H!#K7PS8+-TI?L
M"ZJ0!)"@`%3_(`>?K*JGIP!C8&%;A@YNX0F7W @!)6@`DT`#"*0`168`8X`#!8@!ZG0"+*PZ1"1#0+_`%S_
M`!'``,@+N;+#JQO`X#BP`J2T#)M##)T@`1)`!!KP#"CU"`%4$,]`)J5*#IR$
M#\Z0@1D/$AV@!Z>`([S0`-0`#]XB$&10*3N,$-[`\I#?\OA]S@7`T],`Y+G*
M\SY?&D!?#Q=@"P!`"P/`!%EP`BBP!6YP"$X_`1G@!DXJ!&N0`YHP`+=0R^K0
M#YAP`?#P"C7`^S>0SQ#1!2_0]5P_`#X@P1T/)RI0BQ,P"@'8*EF0`QJ@`9MC
M!<<0!L5P#).`!#/_<"<"$0Y:0"8#@0/*D`5,$`++``7#@`+&L/Z5H-Q_OQ.J
MT?C_$`X`<`\#$0%_R@(=#Q#_!`X4R,K!080)%2YDV-!APDR9UG2Y9\8(N7\N
M3)CP%Z75J5QS9I$Y-JB2D!%A[F3(,*&4"&!@4'!!4RB`)!8`YJC#=0'>JUA5+L).-YR./"/@"D#_S"$%CCM6-1B*@B`O4)Z^2<`
M*)`X`97*&G3P00@CE'"RRP32Y9<(CACHA"R:N,$;Q0PQ;<2%4/-AM=9DJ:6/
M,Q@X!`$G6%G`AA\,08"!4@QH(();=%*G'TR::^ZYZ)*R[D@DD<0$.\FZR82[
M!P9X`;.H9IAFH&&:*662@4A8HH=)2G'KGRWDNB\_#(8@2`M%""H&AFA$0.*?
M%@PL9)T)\]1S3S[[A*K"@<0X!8=_=,#$@W^4"/]`,1M(=$@U%!WXA`8YP,"C
M#52:B<:&>XIH@`)'KOA@#1\$B?*%%UCY1(TYX"E2NB1CE776?G!Q(83)UO$!
MU:HF2,P*'0;Z``,((CA@FG0:R($:,D`@X#\1A)`!@F/RJ^`#@HP8P))>2IA&
M@0!6.**2?XZHYA\1CA`@&'#\=/==>.,EZ(9FS$)FESR4V(",(`!`@@<[W%",
MDQ%-C!2-6A*HXPLJ+#'DAWML*"`22PZQ0(Y:9-&$G@$D05422088X*H7*!#A
M!@M&J8%6EEL^LBEK*"O&"4)*B4.Q`[H9:(%=_OGEA%&"56:2`X`1YH]_BE$A
M#&$L(>"?:1:`*H4PD!C_H8%_'!FEF2W(:4`:@<2`@8-VY37[;+0KZR!F/]HA
M8Q0(`!@GB@R**"Q=:1!2ǫE#1I4L4`*+#QAQ0PS[CD@B0D(J8,&-'P(
MX-070!9YY.XR]^Z#!?@!8(!(;H#59=)9QF0*"-)6?7766W==(!P(G4P&!S*1
M-(9-KB!D@B0,B:8B5AJH0`0+-EG#%TVB]+CRD#'7_/G,!Q"D"D$`,(Z*05XI
M??M9+^!'F-?#%W]\\L^&H`@9[XG&$#7$8.`,&F3))("./;9<9.CSU]\J20Y`
M80I^>"X3FAD=]PQ('7A(HGP+9&`#'1@9`E@@