-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, CSuA79daFaisC0BqQCUbrBHk1dIgGTzjQblXvzEB+jOzx7awNDL1CK8eUuNA102g I8f8DWAr7SRiYWLMFSeBmQ== 0000935069-06-000667.txt : 20060303 0000935069-06-000667.hdr.sgml : 20060303 20060302190642 ACCESSION NUMBER: 0000935069-06-000667 CONFORMED SUBMISSION TYPE: N-CSRS PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20051231 FILED AS OF DATE: 20060303 DATE AS OF CHANGE: 20060302 EFFECTIVENESS DATE: 20060303 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CENTENNIAL MONEY MARKET TRUST CENTRAL INDEX KEY: 0000312538 IRS NUMBER: 840856138 STATE OF INCORPORATION: MA FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-CSRS SEC ACT: 1940 Act SEC FILE NUMBER: 811-02945 FILM NUMBER: 06661431 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 2: 6803 SOUTH TUCSON CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 FORMER COMPANY: FORMER CONFORMED NAME: DAILY CASH INSTITUTIONAL TRUST DATE OF NAME CHANGE: 19810624 0000312538 S000011011 CENTENNIAL MONEY MARKET TRUST C000030406 A N-CSRS 1 rs150_18678-ncsrs.txt RS150_18678-NCSRS UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-CSR CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES Investment Company Act file number 811-02945 CENTENNIAL MONEY MARKET TRUST (Exact name of registrant as specified in charter) 6803 SOUTH TUCSON WAY, CENTENNIAL, COLORADO 80112-3924 (Address of principal executive offices) (Zip code) ROBERT G. ZACK, ESQ. OPPENHEIMERFUNDS, INC. TWO WORLD FINANCIAL CENTER, NEW YORK, NEW YORK 10281-1008 (Name and address of agent for service) Registrant's telephone number, including area code: (303) 768-3200 Date of fiscal year end: JUNE 30 Date of reporting period: DECEMBER 31, 2005 ITEM 1. REPORTS TO STOCKHOLDERS. FUND EXPENSES - -------------------------------------------------------------------------------- FUND EXPENSES. As a shareholder of the Trust, you incur ongoing costs, including management fees; service fees and other Trust expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Trust and to compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000.00 invested at the beginning of the period and held for the entire 6-month period ended December 31, 2005. ACTUAL EXPENSES. The "actual" lines of the table provide information about actual account values and actual expenses. You may use the information on this line, together with the amount you invested, to estimate the expense that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600.00 account value divided by $1,000.00 = 8.60), then multiply the result by the number in the "actual" line under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. HYPOTHETICAL EXAMPLE FOR COMPARISON PURPOSES. The "hypothetical" lines of the table provide information about hypothetical account values and hypothetical expenses based on the Trust's actual expense ratio, and an assumed rate of return of 5% per year before expenses, which is not the Trust's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Trust and other funds. To do so, compare this 5% hypothetical example for the class of shares you hold with the 5% hypothetical examples that appear in the shareholder reports of the other funds. 5 | CENTENNIAL MONEY MARKET TRUST FUND EXPENSES - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- BEGINNING ENDING EXPENSES ACCOUNT ACCOUNT PAID DURING VALUE VALUE 6 MONTHS ENDED (7/1/05) (12/31/05) DECEMBER 31, 2005 - -------------------------------------------------------------------------------- Actual $1,000.00 $1,016.00 $3.47 - -------------------------------------------------------------------------------- Hypothetical 1,000.00 1,021.77 3.48 Hypothetical assumes 5% annual return before expenses. Expenses are equal to the Trust's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). The annualized expense ratio based on the 6-month period ended December 31, 2005 is as follows: EXPENSE RATIO - ------------- 0.68% - -------------------------------------------------------------------------------- 6 | CENTENNIAL MONEY MARKET TRUST STATEMENT OF INVESTMENTS December 31, 2005 / Unaudited - -------------------------------------------------------------------------------- PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- CERTIFICATES OF DEPOSIT--17.3% - -------------------------------------------------------------------------------- Bank of Montreal Chicago, 4.26%, 1/13/06 $ 50,000,000 $ 50,000,000 - -------------------------------------------------------------------------------- Bank of Nova Scotia, 4.28%, 1/27/06 50,000,000 50,000,000 - -------------------------------------------------------------------------------- Barclays Bank plc, New York: 4.26%, 2/9/06 125,000,000 125,000,000 4.315%, 2/17/06 72,700,000 72,700,000 - -------------------------------------------------------------------------------- Calyon, New York, 4.255%, 2/3/06 73,500,000 73,500,000 - -------------------------------------------------------------------------------- Canadian Imperial Bank of Commerce NY, 4.265%, 1/23/06 40,000,000 40,000,000 - -------------------------------------------------------------------------------- Citibank NA: 4.135%, 1/20/06 71,000,000 71,000,000 4.15%, 1/24/06 15,000,000 15,000,000 4.195%, 1/27/06 55,000,000 55,000,000 4.285%, 2/14/06 48,000,000 48,000,000 4.295%, 2/15/06 100,000,000 100,000,000 4.36%, 2/28/06 137,000,000 137,000,000 4.445%, 3/20/06 292,500,000 292,500,000 - -------------------------------------------------------------------------------- Dexia Credit Local, New York, 4.43%, 3/13/06 125,000,000 125,000,000 - -------------------------------------------------------------------------------- Fortis Bank SA/NV, New York, 4.16%, 1/9/06 34,700,000 34,700,000 - -------------------------------------------------------------------------------- HBOS Treasury Services, New York: 4.01%, 1/3/06 45,000,000 45,000,000 4.02%, 1/3/06 125,000,000 125,000,000 4.17%, 2/1/06 250,000,000 250,000,000 - -------------------------------------------------------------------------------- HSBC Bank USA, 4.25%, 2/9/06 116,000,000 115,997,821 - -------------------------------------------------------------------------------- M & I Marshall & Ilsley Bank, 4.43%, 3/17/06 35,000,000 35,000,000 - -------------------------------------------------------------------------------- National City Bank, 4.24%, 2/15/06 30,000,000 29,996,019 - -------------------------------------------------------------------------------- Rabobank Nederland NV, New York, 4.29%, 4/18/06 43,000,000 42,966,553 PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- CERTIFICATES OF DEPOSIT Continued - -------------------------------------------------------------------------------- Royal Bank of Canada, New York Branch, 4.268%, 1/31/06 $ 88,000,000 $ 88,000,000 - -------------------------------------------------------------------------------- Royal Bank of Scotland, New York: 4.27%, 1/26/06 100,000,000 100,000,000 4.27%, 1/27/06 200,000,000 200,000,000 - -------------------------------------------------------------------------------- Skandinaviska Enskilda Banken, New York, 4.306%, 10/3/06 1 164,000,000 163,975,411 - -------------------------------------------------------------------------------- Suntrust Banks, 4.20%, 1/30/06 100,000,000 100,000,000 - -------------------------------------------------------------------------------- Svenska Handelsbanken NY, 4.03%, 1/6/06 100,000,000 100,000,000 - -------------------------------------------------------------------------------- Toronto Dominion Bank, New York: 4.29%, 1/27/06 48,000,000 48,000,000 4.45%, 3/22/06 77,000,000 77,000,000 4.45%, 3/23/06 200,000,000 200,000,000 - -------------------------------------------------------------------------------- Washington Mutual Bank FA: 4.17%, 1/13/06 75,000,000 74,999,752 4.21%, 1/30/06 158,000,000 158,000,000 4.30%, 1/17/06 50,000,000 50,000,000 4.44%, 3/14/06 140,000,000 140,000,000 - -------------------------------------------------------------------------------- Wells Fargo Bank NA: 4.28%, 1/25/06 100,000,000 100,000,000 4.34%, 1/25/06 100,000,000 100,000,000 4.39%, 1/13/06 50,000,000 50,000,000 --------------- Total Certificates of Deposit (Cost $3,683,335,556) 3,683,335,556 - -------------------------------------------------------------------------------- DIRECT BANK OBLIGATIONS--18.7% - -------------------------------------------------------------------------------- AB SPINTAB: 4.16%, 1/31/06 18,050,000 17,987,427 4.175%, 2/2/06 100,000,000 99,628,889 4.35%, 3/3/06 20,000,000 19,852,583 - -------------------------------------------------------------------------------- BNP Paribas Finance, Inc., 4.18%, 1/19/06 85,000,000 84,822,350 - -------------------------------------------------------------------------------- Danske Corp.: 4.06%, 1/9/06 44,255,000 44,215,072 4.32%, 2/3/06 2 20,000,000 19,920,800 7 | CENTENNIAL MONEY MARKET TRUST STATEMENT OF INVESTMENTS Unaudited / Continued - -------------------------------------------------------------------------------- PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- DIRECT BANK OBLIGATIONS Continued - -------------------------------------------------------------------------------- Dexia Delaware LLC, 4.12%, 1/4/06 2 $ 43,000,000 $ 42,985,237 - -------------------------------------------------------------------------------- DnB NOR Bank ASA: 4.26%, 2/3/06 29,100,000 28,986,365 4.285%, 2/8/06 207,500,000 206,562,482 4.30%, 2/24/06 50,000,000 49,677,500 4.385%, 3/13/06 140,000,000 138,789,253 - -------------------------------------------------------------------------------- Governor & Co. of the Bank of Ireland: 4%, 1/5/06 2 164,800,000 164,726,756 4.075%, 1/19/06 2 77,000,000 76,843,113 4.185%, 2/3/06 2 136,000,000 135,478,270 4.22%, 2/6/06 2 33,200,000 33,059,896 - -------------------------------------------------------------------------------- HBOS Treasury Services: 4.165%, 2/2/06 95,000,000 94,648,289 4.22%, 2/10/06 120,000,000 119,437,333 - -------------------------------------------------------------------------------- LaSalle Bank NA, 4.25%, 1/20/06 40,000,000 40,000,000 - -------------------------------------------------------------------------------- Lloyds TSB Bank plc, 4.23%, 1/6/06 45,000,000 44,973,563 - -------------------------------------------------------------------------------- National Australia Funding (Delaware), Inc.: 4.23%, 1/11/06 2 50,000,000 49,941,250 4.23%, 1/13/06 2 135,000,000 134,809,650 4.265%, 1/25/06 2 100,000,000 99,715,667 - -------------------------------------------------------------------------------- Nationwide Building Society: 4.04%, 1/12/06 2 60,000,000 59,925,933 4.105%, 1/25/06 2 65,000,000 64,822,117 4.16%, 1/24/06 2 42,100,000 41,988,108 4.16%, 1/26/06 2 70,000,000 69,799,722 4.26%, 2/17/06 2 81,350,000 80,897,558 4.38%, 3/9/06 2 61,500,000 60,998,673 - -------------------------------------------------------------------------------- Nordea North America, Inc.: 4%, 1/4/06 137,050,000 137,004,317 4.05%, 1/12/06 33,500,000 33,458,544 4.09%, 1/19/06 64,400,000 64,268,302 4.14%, 1/24/06 50,000,000 49,867,750 4.25%, 1/20/06 54,500,000 54,380,337 - -------------------------------------------------------------------------------- Rabobank USA Financial Corp., 4.16%, 1/17/06 25,000,000 24,953,778 - -------------------------------------------------------------------------------- Royal Bank of Scotland plc, 4.175%, 1/17/06 32,000,000 31,940,622 PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- DIRECT BANK OBLIGATIONS Continued - -------------------------------------------------------------------------------- Skandinaviska Enskilda Banken AB: 4.17%, 2/1/06 2 $ 22,900,000 $ 22,817,770 4.349%, 11/27/06 1,2 75,000,000 75,000,000 4.35%, 2/9/06 2 14,500,000 14,431,682 - -------------------------------------------------------------------------------- Societe Generale North America: 3.97%, 1/6/06 40,000,000 39,977,944 4.38%, 3/29/06 100,000,000 98,941,500 4.40%, 3/20/06 129,975,000 128,735,905 - -------------------------------------------------------------------------------- St. George Bank Ltd.: 4.11%, 1/5/06 2 30,000,000 29,986,300 4.30%, 1/12/06 2 50,000,000 49,934,306 4.395%, 3/13/06 2 81,000,000 80,297,899 - -------------------------------------------------------------------------------- Stadshypotek Delaware, Inc.: 4.25%, 2/15/06 2 90,000,000 89,521,875 4.28%, 2/21/06 2 8,800,000 8,746,643 4.31%, 2/3/06 2 50,000,000 49,802,458 - -------------------------------------------------------------------------------- Swedbank AB, 4.025%, 1/11/06 270,000,000 269,698,125 - -------------------------------------------------------------------------------- UBS Finance (Delaware) LLC: 4.16%, 1/27/06 23,125,000 23,055,522 4.20%, 1/30/06 26,448,000 26,358,518 4.29%, 1/3/06 89,500,000 89,478,686 - -------------------------------------------------------------------------------- Westpac Banking Corp., New York, 4.03%, 1/9/06 102,100,000 102,008,564 - -------------------------------------------------------------------------------- Westpac Trust Securities NZ Ltd.: 3.985%, 1/3/06 25,000,000 24,994,465 4.15%, 1/31/06 34,000,000 33,882,417 4.25%, 2/14/06 150,000,000 149,220,833 4.40%, 3/21/06 2 40,000,000 39,613,778 --------------- Total Direct Bank Obligations (Cost $3,967,872,696) 3,967,872,696 - -------------------------------------------------------------------------------- LETTERS OF CREDIT--0.3% - -------------------------------------------------------------------------------- Chase Manhattan Bank, guaranteeing commercial paper of NATC California LLC, 4.12%, 1/13/06 (Cost $63,818,236) 63,906,000 63,818,236 8 | CENTENNIAL MONEY MARKET TRUST PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- SHORT-TERM NOTES--63.2% - -------------------------------------------------------------------------------- ASSET-BACKED SECURITIES--25.2% Amsterdam Funding Corp.: 4.29%, 2/2/06 2 $ 19,100,000 $ 19,027,165 4.32%, 1/24/06 2 40,000,000 39,889,600 - -------------------------------------------------------------------------------- Barton Capital Corp.: 4.035%, 1/9/06 2 216,518,000 216,323,856 4.07%, 1/11/06 2 61,000,000 60,931,036 4.09%, 1/10/06 2 54,479,000 54,423,318 - -------------------------------------------------------------------------------- Cable Beach LP, 4.116%, 1/13/06 2 75,000,000 74,897,100 - -------------------------------------------------------------------------------- Chesham Finance LLC: 4.12%, 1/18/06 2 128,500,000 128,250,884 4.28%, 1/19/06 70,000,000 69,850,200 4.29%, 1/30/06 80,000,000 79,723,533 4.32%, 1/20/06 100,000,000 99,772,000 4.43%, 3/15/06 1,200,000 1,189,220 - -------------------------------------------------------------------------------- Crown Point Capital Co.: 4.18%, 1/12/06 2 123,000,000 122,842,902 4.44%, 3/23/06 2 50,000,000 49,500,500 - -------------------------------------------------------------------------------- Eiffel Funding LLC: 4.03%, 1/5/06 2 75,000,000 74,966,417 4.23%, 1/24/06 2 34,500,000 34,406,764 4.36%, 2/13/06 2 40,001,000 39,792,684 4.42%, 3/20/06 2 50,000,000 49,521,167 4.44%, 3/27/06 2 108,000,000 106,867,800 - -------------------------------------------------------------------------------- Fairway Finance Corp., 4.13%, 1/23/06 2 31,110,000 31,031,482 - -------------------------------------------------------------------------------- FCAR Owner Trust I: 4.22%, 1/20/06 36,500,000 36,418,706 4.22%, 2/6/06 176,000,000 175,257,280 4.31%, 1/27/06 50,000,000 49,844,361 4.42%, 3/15/06 150,000,000 148,655,583 - -------------------------------------------------------------------------------- FCAR Owner Trust II, 4.40%, 3/3/06 21,000,000 20,843,433 - -------------------------------------------------------------------------------- Gemini Securitization Corp.: 4.09%, 1/18/06 2 66,500,000 66,371,563 4.17%, 1/10/06 2 10,000,000 9,989,575 4.28%, 2/17/06 2 98,500,000 97,949,604 4.38%, 3/8/06 2 75,000,000 74,397,750 4.42%, 3/22/06 2 75,000,000 74,263,333 - -------------------------------------------------------------------------------- Gotham Funding Corp.: 4.19%, 1/27/06 2 64,800,000 64,603,908 PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- ASSET-BACKED SECURITIES Continued Gotham Funding Corp.: Continued 4.23%, 1/9/06 2 $ 66,990,000 $ 66,927,096 4.29%, 1/6/06 2 45,901,000 45,873,651 4.32%, 1/19/06 2 50,000,000 49,892,000 - -------------------------------------------------------------------------------- GOVCO, Inc.: 4.06%, 1/6/06 2 50,000,000 49,971,806 4.085%, 1/18/06 2 49,000,000 48,905,478 4.115%, 1/23/06 2 32,883,000 32,800,308 4.125%, 1/25/06 2 20,000,000 19,945,000 4.17%, 1/30/06 2 35,000,000 34,882,429 4.395%, 3/13/06 2 59,000,000 58,488,593 - -------------------------------------------------------------------------------- Grampian Funding LLC: 4.175%, 2/2/06 2 50,000,000 49,814,444 4.39%, 3/28/06 2 141,003,000 139,529,048 4.40%, 3/31/06 2 200,000,000 197,824,444 - -------------------------------------------------------------------------------- Legacy Capital Co. LLC: 4.13%, 1/23/06 75,798,000 75,606,694 4.16%, 1/9/06 50,000,000 49,953,778 4.20%, 1/3/06 1,817,000 1,816,573 4.35%, 2/6/06 9,197,000 9,156,993 4.39%, 3/6/06 58,109,000 57,655,492 4.405%, 3/16/06 111,054,000 110,048,437 4.44%, 3/23/06 71,000,000 70,290,710 - -------------------------------------------------------------------------------- Lexington Parker Capital Co. LLC: 4.03%, 1/6/06 2 122,500,000 122,431,503 4.05%, 1/12/06 2 40,000,000 39,950,500 4.23%, 2/9/06 2 94,111,000 93,679,736 4.24%, 2/8/06 2 41,731,000 41,544,231 4.30%, 2/21/06 2 78,000,000 77,524,850 4.415%, 3/21/06 2 50,000,000 49,515,576 - -------------------------------------------------------------------------------- Neptune Funding Corp.: 4.08%, 1/5/06 2 55,660,000 55,634,767 4.09%, 1/12/06 2 123,500,000 123,345,659 4.10%, 1/13/06 2 88,000,000 87,879,733 4.13%, 1/17/06 2 25,000,000 24,954,111 4.15%, 1/11/06 2 15,500,000 15,482,132 4.21%, 1/19/06 2 32,688,000 32,619,192 4.25%, 2/3/06 2 43,218,000 43,049,630 4.41%, 3/2/06 2 24,540,000 24,359,631 - -------------------------------------------------------------------------------- Old Line Funding Corp.: 4.18%, 1/10/06 2 10,376,000 10,365,157 4.26%, 1/18/06 2 47,937,000 47,840,567 4.29%, 1/23/06 2 33,408,000 33,320,415 9 | CENTENNIAL MONEY MARKET TRUST STATEMENT OF INVESTMENTS Unaudited / Continued - -------------------------------------------------------------------------------- PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- ASSET-BACKED SECURITIES Continued Perry Global Funding LLC, Series A: 4.055%, 1/9/06 2 $ 63,810,000 $ 63,752,500 4.19%, 2/2/06 2 38,525,000 38,381,516 4.22%, 2/6/06 2 67,817,000 67,530,812 4.31%, 1/26/06 2 70,237,000 70,026,777 4.35%, 3/1/06 2 91,000,000 90,351,246 - -------------------------------------------------------------------------------- Regency Markets No. 1 LLC, 4.32%, 1/9/06 2 19,866,000 19,846,929 - -------------------------------------------------------------------------------- Sheffield Receivables Corp., 4.25%, 1/5/06 2 54,103,000 54,077,451 - -------------------------------------------------------------------------------- Solitaire Funding LLC, 4.34%, 1/23/06 2 130,000,000 129,663,461 - -------------------------------------------------------------------------------- Victory Receivables Corp.: 4.21%, 2/1/06 2 60,810,000 60,589,547 4.235%, 2/6/06 2 44,000,000 43,813,660 4.25%, 1/4/06 2 56,699,000 56,678,919 4.29%, 1/10/06 2 46,153,000 46,103,501 4.29%, 1/11/06 2 50,000,000 49,940,417 4.31%, 1/20/06 2 76,779,000 76,604,349 4.31%, 1/23/06 2 84,556,000 84,333,289 4.35%, 2/3/06 2 21,000,000 20,916,263 - -------------------------------------------------------------------------------- Windmill Funding Corp.: 4.22%, 1/4/06 2 25,000,000 24,991,208 4.25%, 1/6/06 2 50,000,000 49,970,486 - -------------------------------------------------------------------------------- Yorktown Capital LLC, 4.25%, 1/5/06 2 49,000,000 48,976,861 --------------- 5,361,232,280 - -------------------------------------------------------------------------------- AUTOMOBILES--0.2% BMW US Capital LLC, 4.24%, 1/3/06 2 40,000,000 39,990,578 - -------------------------------------------------------------------------------- BEVERAGES--0.1% Better Brands of South Georgia LLP, Series 2003, 4.41%, 1/5/06 1 11,600,000 11,600,000 - -------------------------------------------------------------------------------- CAPITAL MARKETS--6.1% Banc of America Securities LLC, 4.26%, 1/2/06 1 180,000,000 180,000,000 PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- CAPITAL MARKETS Continued Bear Stearns Cos., Inc.: 4.05%, 1/11/06 $ 65,000,000 $ 64,926,875 4.075%, 1/17/06 9,000,000 8,983,700 4.22%, 2/6/06 186,000,000 185,216,370 4.22%, 2/7/06 91,000,000 90,605,313 4.42%, 3/20/06 50,000,000 49,523,333 - -------------------------------------------------------------------------------- First Clearing LLC, 4.35%, 3/6/06 1 90,500,000 90,500,000 - -------------------------------------------------------------------------------- Goldman Sachs Group, Inc.: 4.37%, 4/7/06 1,3 160,000,000 160,000,000 4.439%, 10/30/06 1,3 233,000,000 233,000,000 - -------------------------------------------------------------------------------- Lehman Brothers, Inc., 4.125%, 1/2/06 1 229,000,000 229,000,000 --------------- 1,291,755,591 - -------------------------------------------------------------------------------- COMMERCIAL BANKS--7.5% Bank of America Corp.: 4.19%, 2/2/06 200,000,000 199,255,111 4.19%, 2/3/06 50,000,000 49,807,958 4.215%, 1/26/06 300,000,000 299,121,875 4.255%, 2/15/06 75,300,000 74,899,498 4.35%, 2/13/06 70,000,000 69,636,292 - -------------------------------------------------------------------------------- Deutsche Bank Financial LLC: 4.33%, 2/8/06 280,000,000 278,720,244 4.39%, 1/3/06 50,000,000 49,987,806 - -------------------------------------------------------------------------------- HSBC USA, Inc.: 4.145%, 1/25/06 100,000,000 99,723,667 4.23%, 2/10/06 161,000,000 160,243,300 4.36%, 5/1/06 20,000,000 19,709,333 - -------------------------------------------------------------------------------- JPMorgan Chase & Co., 4.16%, 2/1/06 215,000,000 214,229,822 - -------------------------------------------------------------------------------- National City Credit Corp., 4.345%, 2/13/06 73,200,000 72,820,102 --------------- 1,588,155,008 - -------------------------------------------------------------------------------- COMMERCIAL FINANCE--0.5% Caterpillar Financial Services Corp., 4.22%, 1/5/06 31,600,000 31,585,183 - -------------------------------------------------------------------------------- Countrywide Financial Corp.: 4.25%, 1/3/06 5,000,000 4,998,806 4.30%, 1/5/06 58,000,000 57,972,289 10 | CENTENNIAL MONEY MARKET TRUST PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- COMMERCIAL FINANCE Continued Private Export Funding Corp., 4.24%, 1/17/06 2 $ 13,500,000 $ 13,474,560 --------------- 108,030,838 - -------------------------------------------------------------------------------- CONSUMER FINANCE--0.2% American Express Credit Corp., 4.13%, 1/5/06 50,000,000 49,977,056 - -------------------------------------------------------------------------------- DIVERSIFIED FINANCIAL SERVICES--6.3% General Electric Capital Corp.: 4%, 1/6/06 98,000,000 97,945,556 4.16%, 1/30/06 65,000,000 64,782,178 4.245%, 2/13/06 169,000,000 168,143,100 4.38%, 3/27/06 125,000,000 123,707,292 - -------------------------------------------------------------------------------- General Electric Capital Services: 4.06%, 1/12/06 133,300,000 133,134,634 4.40%, 3/22/06 138,200,000 136,848,711 - -------------------------------------------------------------------------------- HSBC Finance Corp.: 4.04%, 1/10/06 19,000,000 18,980,810 4.09%, 1/19/06 100,000,000 99,795,500 4.09%, 1/20/06 100,000,000 99,784,139 4.12%, 1/27/06 100,000,000 99,702,444 4.35%, 3/29/06 80,000,000 79,159,000 - -------------------------------------------------------------------------------- Network Rail Infrastructure Finance plc, 4.21%, 2/9/06 60,000,000 59,726,350 - -------------------------------------------------------------------------------- Prudential Funding LLC, 4.24%, 1/30/06 3 150,000,000 149,487,667 --------------- 1,331,197,381 - -------------------------------------------------------------------------------- ENERGY EQUIPMENT & SERVICES--0.1% Mississippi Business Finance Corp., 4.41%, 1/3/06 1 15,200,000 15,200,000 - -------------------------------------------------------------------------------- FOOD PRODUCTS--0.2% Nestle Capital Corp., 4.30%, 2/10/06 2 45,500,000 45,282,611 - -------------------------------------------------------------------------------- HEALTH CARE EQUIPMENT & SUPPLIES--0.0% Cambridge-Southlake Partners LP, Series 2003, 4.41%, 1/5/06 1 8,875,000 8,875,000 PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- INSURANCE--4.2% ING America Insurance Holdings, Inc.: 4%, 1/5/06 $ 50,000,000 $ 49,977,778 4.01%, 1/6/06 6,500,000 6,496,380 4.04%, 1/10/06 22,000,000 21,977,780 4.06%, 1/12/06 35,000,000 34,956,581 4.25%, 1/27/06 21,000,000 20,935,542 4.27%, 2/13/06 25,000,000 24,872,493 4.33%, 2/27/06 30,000,000 29,794,325 4.38%, 3/8/06 66,500,000 65,966,005 4.39%, 3/13/06 42,421,000 42,053,717 4.42%, 3/27/06 50,000,000 49,478,194 - -------------------------------------------------------------------------------- ING Verzekeringen NV, 4.18%, 1/23/06 8,500,000 8,478,287 - -------------------------------------------------------------------------------- Jackson National Life Global Funding, 4.409%, 1/17/06 1,3 50,000,000 50,000,000 - -------------------------------------------------------------------------------- Jackson National Life Insurance Co., 4.301%, 8/1/06 1 48,000,000 48,000,000 - -------------------------------------------------------------------------------- Metropolitan Life Global Funding I, Series 2003-5: 4.429%, 1/17/06 1,3 69,400,000 69,400,000 4.517%, 3/17/06 1,3 45,000,000 45,004,606 - -------------------------------------------------------------------------------- Prudential Insurance Co. of America, 4.321%, 1/1/06 1 165,000,000 165,000,000 - -------------------------------------------------------------------------------- Security Life of Denver Insurance Co., 4.49%, 1/23/06 1 115,000,000 115,000,000 - -------------------------------------------------------------------------------- United of Omaha Life Insurance Co., 4.391%, 8/1/06 1,3 50,000,000 50,000,000 --------------- 897,391,688 - -------------------------------------------------------------------------------- LEASING & FACTORING--1.0% American Honda Finance Corp., 4.25%, 1/19/06 18,550,000 18,510,581 - -------------------------------------------------------------------------------- Toyota Motor Credit Corp.: 4.18%, 2/3/06 95,000,000 94,635,992 4.33%, 2/10/06 100,000,000 99,518,889 --------------- 212,665,462 11 | CENTENNIAL MONEY MARKET TRUST STATEMENT OF INVESTMENTS Unaudited / Continued - -------------------------------------------------------------------------------- PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- OIL & GAS--0.2% Chevron Funding Corp., 4.235%, 1/25/06 $ 35,000,000 $ 34,901,183 - -------------------------------------------------------------------------------- PERSONAL PRODUCTS--0.1% Procter & Gamble Co., 4.19%, 1/3/06 2 25,000,000 24,994,181 - -------------------------------------------------------------------------------- PHARMACEUTICALS--1.1% Alcon Capital Corp., 4.26%, 1/24/06 2 35,000,000 34,904,742 - -------------------------------------------------------------------------------- Cloverleaf International Holdings SA, 4.19%, 1/19/06 55,000,000 54,884,775 - -------------------------------------------------------------------------------- GlaxoSmithKline Finance plc, 4.31%, 2/13/06 2 50,000,000 49,742,597 - -------------------------------------------------------------------------------- Novartis Finance Corp., 4.25%, 1/4/06 2 29,027,000 29,016,720 - -------------------------------------------------------------------------------- Pfizer Investment Capital plc, 4.25%, 1/19/06 2 34,000,000 33,927,750 - -------------------------------------------------------------------------------- Sanofi-Aventis, 4.15%, 1/11/06 26,700,000 26,669,221 --------------- 229,145,805 - -------------------------------------------------------------------------------- SPECIAL PURPOSE FINANCIAL--10.2% Blue Spice LLC: 4.05%, 1/11/06 2 41,000,000 40,953,875 4.15%, 1/25/06 2 96,800,000 96,532,187 4.175%, 2/1/06 2 60,000,000 59,784,292 4.405%, 3/13/06 2 100,000,000 99,131,236 - -------------------------------------------------------------------------------- Cooperative Assn. of Tractor Dealers, Inc., Series A: 4.20%, 1/9/06 3,000,000 2,997,200 4.31%, 3/2/06 25,330,000 25,148,046 4.35%, 1/11/06 7,100,000 7,091,717 4.35%, 1/18/06 1,437,000 1,434,048 4.35%, 1/23/06 20,880,000 20,824,494 - -------------------------------------------------------------------------------- Cooperative Assn. of Tractor Dealers, Inc., Series B: 4.20%, 1/11/06 15,200,000 15,182,267 4.31%, 3/6/06 15,200,000 15,083,534 PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- SPECIAL PURPOSE FINANCIAL Continued K2 (USA) LLC: 4.30%, 2/24/06 2 $ 45,700,000 $ 45,405,235 4.31%, 2/22/06 2 23,500,000 23,353,699 4.32%, 1/20/06 1,4 90,000,000 89,998,595 4.36%, 3/22/06 2 95,000,000 94,079,556 4.37%, 3/6/06 40,000,000 39,689,244 - -------------------------------------------------------------------------------- LINKS Finance LLC: 3.13%, 1/10/06 80,000,000 79,977,042 4.23%, 2/9/06 2 20,000,000 19,908,350 4.37%, 3/6/06 25,000,000 24,805,778 4.40%, 3/17/06 50,000,000 49,541,667 4.42%, 3/23/06 79,000,000 78,214,345 - -------------------------------------------------------------------------------- Parkland (USA) LLC: 4.34%, 12/12/06 1,4 16,000,000 15,998,488 4.35%, 1/18/06 1,4 42,000,000 41,999,804 - -------------------------------------------------------------------------------- RACERS Trust, Series 2004-6-MM, 4.37%, 1/23/06 1 156,500,000 156,500,000 - -------------------------------------------------------------------------------- Sigma Finance, Inc.: 4.05%, 1/13/06 2 97,000,000 96,869,050 4.27%, 2/17/06 2 84,000,000 83,531,723 4.319%, 2/15/06 1,4 29,000,000 28,998,921 4.35%, 3/1/06 35,000,000 34,750,479 4.385%, 3/8/06 30,000,000 29,758,825 4.405%, 3/15/06 67,000,000 66,401,532 4.42%, 3/21/06 40,000,000 39,612,022 4.42%, 3/24/06 270,000,000 267,283,971 - -------------------------------------------------------------------------------- Ticonderoga Funding LLC, 4.30%, 1/17/06 4 50,000,000 49,904,444 - -------------------------------------------------------------------------------- Union Hamilton Special Purpose Funding LLC, 4.519%, 3/28/06 1 100,000,000 100,000,000 - -------------------------------------------------------------------------------- Wachovia Asset Securitization Issuance, Series 2004-HMIA, Cl. A, 4.369%, 1/25/06 1 45,815,700 45,815,337 - -------------------------------------------------------------------------------- Wind Master Trust Nts., Series 2005-18A, 4.379%, 4/25/06 1,3 35,106,000 35,106,000 - -------------------------------------------------------------------------------- Wind Master Trust Nts., Series 2005-I-1, 4.379%, 6/26/06 1,3 70,235,000 70,235,000 12 | CENTENNIAL MONEY MARKET TRUST PRINCIPAL VALUE AMOUNT SEE NOTE 1 - -------------------------------------------------------------------------------- SPECIAL PURPOSE FINANCIAL Continued Wind Master Trust Nts., Series 2005-J-2, 4.379%, 8/25/06 1,3 $ 80,370,000 $ 80,370,000 --------------- 2,172,272,003 --------------- Total Short-Term Notes (Cost $13,422,666,665) 13,422,666,665 - -------------------------------------------------------------------------------- U.S. GOVERNMENT AGENCIES--0.4% - -------------------------------------------------------------------------------- Federal Home Loan Bank, 4.18%, 1/4/06 40,000,000 39,986,083 - -------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp., 4.18%, 1/3/06 40,000,000 39,990,711 --------------- Total U.S. Government Agencies (Cost $79,976,794) 79,976,794 - -------------------------------------------------------------------------------- TOTAL INVESTMENTS, AT VALUE (COST $21,217,669,947) 99.9% 21,217,669,947 - -------------------------------------------------------------------------------- OTHER ASSETS NET OF LIABILITIES 0.1 14,818,020 ---------------------------------- NET ASSETS 100.0% $21,232,487,967 ================================== FOOTNOTES TO STATEMENT OF INVESTMENTS SHORT-TERM NOTES, DIRECT BANK OBLIGATIONS AND LETTERS OF CREDIT ARE GENERALLY TRADED ON A DISCOUNT BASIS; THE INTEREST RATE SHOWN IS THE DISCOUNT RATE RECEIVED BY THE TRUST AT THE TIME OF PURCHASE. OTHER SECURITIES NORMALLY BEAR INTEREST AT THE RATES SHOWN. 1. Represents the current interest rate for a variable or increasing rate security. 2. Security issued in an exempt transaction without registration under the Securities Act of 1933. Such securities amount to $6,832,097,690, or 32.18% of the Trust's net assets, and have been determined to be liquid pursuant to guidelines adopted by the Board of Trustees. 3. Illiquid security. The aggregate value of illiquid securities as of December 31, 2005 was $942,603,273, which represents 4.44% of the Trust's net assets. See Note 4 of Notes to Financial Statements. 4. Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended. These securities have been determined to be liquid under guidelines established by the Board of Trustees. These securities amount to $226,900,252 or 1.07% of the Trust's net assets as of December 31, 2005. SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS 13 | CENTENNIAL MONEY MARKET TRUST STATEMENT OF ASSETS AND LIABILITIES Unaudited - --------------------------------------------------------------------------------
December 31, 2005 - --------------------------------------------------------------------------------------------------------- ASSETS - --------------------------------------------------------------------------------------------------------- Investments, at value (cost $21,217,669,947) - --see accompanying statement of investments $21,217,669,947 - --------------------------------------------------------------------------------------------------------- Receivables and other assets: Shares of beneficial interest sold 29,107,180 Interest 24,207,233 Other 946,168 ---------------- Total assets 21,271,930,528 - --------------------------------------------------------------------------------------------------------- LIABILITIES - --------------------------------------------------------------------------------------------------------- Bank overdraft 11,581,770 - --------------------------------------------------------------------------------------------------------- Payables and other liabilities: Dividends 22,002,700 Transfer and shareholder servicing agent fees 2,356,514 Distribution and service plan fees 1,628,770 Shareholder communications 1,399,394 Trustees' compensation 90,039 Shares of beneficial interest redeemed 65,464 Other 317,910 ---------------- Total liabilities 39,442,561 - --------------------------------------------------------------------------------------------------------- NET ASSETS $21,232,487,967 ================ - --------------------------------------------------------------------------------------------------------- COMPOSITION OF NET ASSETS - --------------------------------------------------------------------------------------------------------- Paid-in capital $21,232,489,094 - --------------------------------------------------------------------------------------------------------- Accumulated net investment loss (15,296) - --------------------------------------------------------------------------------------------------------- Accumulated net realized gain on investments 14,169 - --------------------------------------------------------------------------------------------------------- NET ASSETS-applicable to 21,232,949,068 shares of beneficial interest outstanding $21,232,487,967 ================ - --------------------------------------------------------------------------------------------------------- NET ASSET VALUE, REDEMPTION PRICE PER SHARE AND OFFERING PRICE PER SHARE $ 1.00
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS. 14 | CENTENNIAL MONEY MARKET TRUST STATEMENT OF OPERATIONS Unaudited - --------------------------------------------------------------------------------
For the Six Months Ended December 31, 2005 - -------------------------------------------------------------------------------- INVESTMENT INCOME - -------------------------------------------------------------------------------- Interest $401,611,954 - -------------------------------------------------------------------------------- EXPENSES - -------------------------------------------------------------------------------- Management fees 35,256,842 - -------------------------------------------------------------------------------- Service plan fees 21,107,609 - -------------------------------------------------------------------------------- Transfer and shareholder servicing agent fees 13,964,209 - -------------------------------------------------------------------------------- Shareholder communications 746,060 - -------------------------------------------------------------------------------- Custodian fees and expenses 153,036 - -------------------------------------------------------------------------------- Trustees' compensation 43,411 - -------------------------------------------------------------------------------- Administrative fees 750 - -------------------------------------------------------------------------------- Other 715,939 ------------- Total expenses 71,987,856 Less reduction to custodian expenses (690) ------------- Net expenses 71,987,166 - -------------------------------------------------------------------------------- NET INVESTMENT INCOME 329,624,788 - -------------------------------------------------------------------------------- NET REALIZED GAIN ON INVESTMENTS 26 - -------------------------------------------------------------------------------- NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS $329,624,814 =============
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS. 15 | CENTENNIAL MONEY MARKET TRUST STATEMENTS OF CHANGES IN NET ASSETS
SIX MONTHS YEAR ENDED ENDED DECEMBER 31, 2005 JUNE 30, (UNAUDITED) 2005 - -------------------------------------------------------------------------------------------------- OPERATIONS - -------------------------------------------------------------------------------------------------- Net investment income $ 329,624,788 $ 329,636,607 - -------------------------------------------------------------------------------------------------- Net realized gain 26 14,143 ----------------------------------- Net increase in net assets resulting from operations 329,624,814 329,650,750 - -------------------------------------------------------------------------------------------------- DIVIDENDS AND/OR DISTRIBUTIONS TO SHAREHOLDERS - -------------------------------------------------------------------------------------------------- Dividends from net investment income (329,640,084) (329,636,607) - -------------------------------------------------------------------------------------------------- BENEFICIAL INTEREST TRANSACTIONS - -------------------------------------------------------------------------------------------------- Net increase (decrease) in net assets resulting from beneficial interest transactions 925,764,033 (884,153,729) - -------------------------------------------------------------------------------------------------- NET ASSETS - -------------------------------------------------------------------------------------------------- Total increase (decrease) 925,748,763 (884,139,586) - -------------------------------------------------------------------------------------------------- Beginning of period 20,306,739,204 21,190,878,790 ------------------------------------ End of period (including accumulated net investment loss of $15,296 for the period ended December 31, 2005) $21,232,487,967 $20,306,739,204 ====================================
SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS. 16 | CENTENNIAL MONEY MARKET TRUST FINANCIAL HIGHLIGHTS - --------------------------------------------------------------------------------
SIX MONTHS YEAR ENDED ENDED DECEMBER 31, 2005 JUNE 30, (UNAUDITED) 2005 2004 2003 2002 2001 - --------------------------------------------------------------------------------------------------------------------------------- PER SHARE OPERATING DATA - --------------------------------------------------------------------------------------------------------------------------------- Net asset value, beginning of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 - --------------------------------------------------------------------------------------------------------------------------------- Income from investment operations- net investment income and net realized gain .02 1 .02 1 .01 .01 .02 .06 - --------------------------------------------------------------------------------------------------------------------------------- Dividends and/or distributions to shareholders: Dividends from net investment loss (.02) (.02) (.01) (.01) (.02) (.06) Distributions from net realized gain -- -- -- -- 2 -- 2 -- ------------------------------------------------------------------------- Total dividends and/or distributions to shareholders (.02) (.02) (.01) (.01) (.02) (.06) - --------------------------------------------------------------------------------------------------------------------------------- Net asset value, end of period $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 $ 1.00 ========================================================================= - --------------------------------------------------------------------------------------------------------------------------------- TOTAL RETURN 3 1.60% 1.59% 0.61% 1.20% 1.99% 5.51% - --------------------------------------------------------------------------------------------------------------------------------- - --------------------------------------------------------------------------------------------------------------------------------- RATIOS/SUPPLEMENTAL DATA - --------------------------------------------------------------------------------------------------------------------------------- Net assets, end of period (in millions) $21,232 $20,307 $21,191 $23,019 $21,736 $22,210 - --------------------------------------------------------------------------------------------------------------------------------- Average net assets (in millions) $20,967 $20,966 $22,509 $22,783 $22,947 $20,830 - --------------------------------------------------------------------------------------------------------------------------------- Ratios to average net assets: 4 Net investment income 3.12% 1.57% 0.61% 1.19% 1.97% 5.34% Total expenses 0.68% 0.68% 0.67% 0.66% 0.69% 0.67% Expenses after payments and waivers and reduction to custodian expenses 0.68% 0.68% 0.51% 0.40% 0.66% 0.67%
1. Per share amounts calculated based on the average shares outstanding during the period. 2. Less than $0.005 per share. 3. Assumes an investment on the business day before the first day of the fiscal period, with all dividends reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Total returns are not annualized for periods less than one year. Returns do not reflect the deduction of taxes that a shareholder would pay on Trust distributions or the redemption of Trust shares. 4. Annualized for periods of less than one full year. SEE ACCOMPANYING NOTES TO FINANCIAL STATEMENTS. 17 | CENTENNIAL MONEY MARKET TRUST NOTES TO FINANCIAL STATEMENTS Unaudited - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 1. SIGNIFICANT ACCOUNTING POLICIES Centennial Money Market Trust (the Trust) is registered under the Investment Company Act of 1940, as amended, as an open-end management investment company. The Trust's investment objective is to seek the maximum current income that is consistent with low capital risk and the maintenance of liquidity. The Trust's investment advisor is Centennial Asset Management Corporation (the Manager), a subsidiary of OppenheimerFunds, Inc. (OFI). The following is a summary of significant accounting policies consistently followed by the Trust. - -------------------------------------------------------------------------------- SECURITIES VALUATION. The net asset value of shares of the Trust is normally determined twice each day, at 12:00 Noon Eastern time and at 4:00 P.M. Eastern time on each day the New York Stock Exchange (the Exchange) is open for trading. Portfolio securities are valued on the basis of amortized cost, which approximates market value. - -------------------------------------------------------------------------------- FEDERAL TAXES. The Trust intends to comply with provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its investment company taxable income, including any net realized gain on investments not offset by capital loss carryforwards, if any, to shareholders, therefore, no federal income or excise tax provision is required. Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains may differ from their ultimate characterization for federal income tax purposes. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Trust. - -------------------------------------------------------------------------------- TRUSTEES' COMPENSATION. The Board of Trustees has adopted a deferred compensation plan for independent trustees that enables trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from the Trust. For purposes of determining the amount owed to the Trustee under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of the Trust or in other Oppenheimer funds selected by the Trustee. The Trust purchases shares of the funds selected for deferral by the Trustee in amounts equal to his or her deemed investment, resulting in a Trust asset equal to the deferred compensation liability. Such assets are included as a component of "Other" within the asset section of the Statement of Assets and Liabilities. Deferral of trustees' fees under the plan will not affect the net assets of the Trust, and will not materially affect the Trust's assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance to the Plan. 18 | CENTENNIAL MONEY MARKET TRUST - -------------------------------------------------------------------------------- DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS. Dividends and distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date. Income distributions, if any, are declared daily and paid monthly. Capital gain distributions, if any, are declared and paid annually but may be paid at other times to maintain the net asset value per share at $1.00. - -------------------------------------------------------------------------------- CUSTODIAN FEES. Custodian Fees and Expenses in the Statement of Operations may include interest expense incurred by the Trust on any cash overdrafts of its custodian account during the period. Such cash overdrafts may result from the effects of failed trades in portfolio securities and from cash outflows resulting from unanticipated shareholder redemption activity. The Trust pays interest to its custodian on such cash overdrafts to the extent they are not offset by positive cash balances maintained by the Trust. The Reduction to Custodian Expenses line item, if applicable, represents earnings on cash balances maintained by the Trust during the period. Such interest expense and other custodian fees may be paid with these earnings. - -------------------------------------------------------------------------------- SECURITY TRANSACTIONS. Security transactions are recorded on the trade date. Realized gains and losses on securities sold are determined on the basis of identified cost. - -------------------------------------------------------------------------------- OTHER. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates. - -------------------------------------------------------------------------------- 2. SHARES OF BENEFICIAL INTEREST The Trust has authorized an unlimited number of no par value shares of beneficial interest. Transactions in shares of beneficial interest were as follows:
SIX MONTHS ENDED DECEMBER 31, 2005 YEAR ENDED JUNE 30, 2005 SHARES AMOUNT SHARES AMOUNT - ------------------------------------------------------------------------------------------------------------ Sold 30,965,478,990 $ 30,965,478,990 56,763,898,768 $ 56,763,898,768 Dividends and/or distributions reinvested 91,753,146 91,753,146 313,495,015 313,495,015 Redeemed (30,131,420,057) (30,131,468,103) (57,961,547,512) (57,961,547,512) ------------------------------------------------------------------------------- NET INCREASE (DECREASE) 925,812,079 $ 925,764,033 (884,153,729) $ (884,153,729) ===============================================================================
19 | CENTENNIAL MONEY MARKET TRUST NOTES TO FINANCIAL STATEMENTS Unaudited / Continued - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- 3. FEES AND OTHER TRANSACTIONS WITH AFFILIATES MANAGEMENT FEES. Management fees paid to the Manager were in accordance with the investment advisory agreement with the Trust which provides for a fee at an annual rate of 0.50% of the first $250 million of the Trust's net assets, 0.475% of the next $250 million, 0.45% of the next $250 million, 0.425% of the next $250 million, 0.40% of the next $250 million, 0.375% of the next $250 million, 0.35% of the next $500 million, and 0.325% of net assets in excess of $2 billion. - -------------------------------------------------------------------------------- ADMINISTRATION SERVICE FEES. The Trust pays the Manager a fee of $1,500 per year for preparing and filing the Trust's tax returns. - -------------------------------------------------------------------------------- TRANSFER AGENT FEES. Shareholder Services, Inc. (SSI) acts as the transfer and shareholder servicing agent for the Trust and for other registered investment companies. The Trust pays SSI a per account fee. For the six months ended December 31, 2005, the Trust paid $13,867,213 to SSI for services to the Trust. - -------------------------------------------------------------------------------- SERVICE PLAN (12b-1) FEES. The Trust has adopted a service plan. It reimburses Centennial Asset Management Corporation, the Distributor, for a portion of its costs incurred for services provided to accounts that hold shares of the Trust. Reimbursement is made periodically depending on asset size, at an annual rate of up to 0.20% of the average annual net assets of the Trust. The Distributor currently uses all of those fees to pay dealers, brokers, banks and other financial institutions periodically for providing personal services and maintenance of accounts of their customers that hold shares of the Trust. Fees incurred by the Trust under the Plan are detailed in the Statement of Operations. - -------------------------------------------------------------------------------- WAIVERS AND REIMBURSEMENTS OF EXPENSES. SSI has voluntarily agreed to limit transfer and shareholder servicing agent fees to 0.35% of average annual net assets of the Trust. This undertaking may be amended or withdrawn at any time. - -------------------------------------------------------------------------------- 4. ILLIQUID SECURITIES As of December 31, 2005, investments in securities included issues that are illiquid. A security may be considered illiquid if it lacks a readily available market or if its valuation has not changed for a certain period of time. The Trust will not invest more than 10% of its net assets (determined at the time of purchase and reviewed periodically) in illiquid securities. Securities that are illiquid are marked with the applicable footnote on the Statement of Investments. 20 | CENTENNIAL MONEY MARKET TRUST PORTFOLIO PROXY VOTING POLICIES AND PROCEDURES; UPDATES TO STATEMENTS OF INVESTMENTS Unaudited - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- The Fund has adopted Portfolio Proxy Voting Policies and Procedures under which the Fund votes proxies relating to securities ("portfolio proxies") held by the Fund. A description of the Fund's Portfolio Proxy Voting Policies and Procedures is available (i) without charge, upon request, by calling the Fund toll-free at 1.800.525.7048, (ii) on the Fund's website at www.oppenheimerfunds.com, and (iii) on the SEC's website at www.sec.gov. In addition, the Fund is required to file Form N-PX, with its complete proxy voting record for the 12 months ended June 30th, no later than August 31st of each year. The Fund's voting record is available (i) without charge, upon request, by calling the Fund toll-free at 1.800.525.7048, and (ii) in the Form N-PX filing on the SEC's website at www.sec.gov. The Fund files its complete schedule of portfolio holdings with the SEC for the first quarter and the third quarter of each fiscal year on Form N-Q. The Fund's Form N-Q filings are available on the SEC's website at http://www.sec.gov. Those forms may be reviewed and copied at the SEC's Public Reference Room in Washington D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330. 21 | CENTENNIAL MONEY MARKET TRUST BOARD APPROVAL OF THE FUND'S INVESTMENT ADVISORY AGREEMENT Unaudited - -------------------------------------------------------------------------------- - -------------------------------------------------------------------------------- Each year, the Board of Trustees (the "Board"), including a majority of the independent Trustees, is required to determine whether to renew the Trust's investment advisory agreement (the "Agreement"). The Investment Company Act of 1940, as amended, requires that the Board request and evaluate, and that the Manager provide, such information as may be reasonably necessary to evaluate the terms of the Agreement. The Board employs an independent consultant to prepare a report that provides information, including comparative information, that the Board requests for that purpose. In addition, the Board receives information throughout the year regarding Trust services, fees, expenses and performance. The Manager and the independent consultant provided information to the Board on the following factors: (i) the nature, quality and extent of the Manager's services, (ii) the investment performance of the Trust and the Manager, (iii) the fees and expenses of the Trust, including comparative expense information, (iv) the profitability of the Manager, including an analysis of the cost of providing services, (v) whether economies of scale are realized as the Trust grows and whether fee levels reflect these economies of scale for Trust investors and (vi) other benefits to the Manager from its relationship with the Trust. Outlined below is a summary of the principal information considered by the Board as well as the Board's conclusions. NATURE, QUALITY, AND EXTENT OF SERVICES. The Board considered information on the nature and extent of the services provided to the Trust by the Manager and by OppenheimerFunds, Inc., the Manager's parent company, and information regarding the key personnel that provide such services. The Manager's duties include providing the Trust with the services of the portfolio managers and the Manager's investment team, who provide research, analysis and other advisory services in regard to the Trust's investments; securities trading services; oversight of third party service providers; monitoring compliance with applicable Trust policies and procedures and adherence to the Trust's investment restrictions. The Manager is responsible for providing certain administrative services to the Trust as well. Those services include providing and supervising all administrative and clerical personnel that are necessary in order to provide effective corporate administration for the Trust; compiling and maintaining records with respect to the Trust's operations; preparing and filing reports required by the Securities and Exchange Commission; preparing periodic reports regarding the operations of the Trust for its shareholders; preparing proxy materials for shareholder meetings; and preparing the registration statements required by Federal and state securities laws for the sale of the Trust's shares. The Manager also provides the Trust with office space, facilities and equipment. 22 | CENTENNIAL MONEY MARKET TRUST The Board also considered the quality of the services provided and the quality of the Manager's resources that are available to the Trust. The Board took account of the fact that the Manager has been an investment advisor since 1978 and that the Manager's and its parent's assets under management rank among the top mutual fund managers in the United States. The Board evaluated the Manager's administrative, accounting, legal and compliance services, and information the Board has received regarding the experience and professional qualifications of the Manager's key personnel and the size and functions of its staff providing investment management services to the Trust. The Board also considered compliance reports from the Trust's Chief Compliance Officer. In its evaluation of the quality of the portfolio management services provided, the Board considered the experience of Carol E. Wolf and Barry D. Weiss and the Manager's money market investment team and analysts. Ms. Wolf has had over 22 years and Mr. Weiss has had over 7 years of experience managing money market and other fixed income investments. The Board members also considered the totality of their experiences with the Manager, as directors or trustees of the Trust and other funds advised by the Manager. In light of the foregoing, the Board concluded that the Trust benefits from the services provided under the Agreement as a result of the Manager's experience, reputation, personnel, operations, and resources. INVESTMENT PERFORMANCE OF THE TRUST. During the year, the Manager provided information on the performance of the Trust at each Board meeting, including comparative performance information. The Board also reviewed information, prepared by the Manager and by the independent consultant, comparing the Trust's historical performance to relevant market indices and to the performance of other money market funds. The Board noted that the Trust's three-year, five-year and ten-year performance were better than its peer group median. However its one-year performance was slightly below its peer group median. COSTS OF SERVICES AND PROFITS REALIZED BY THE MANAGER. The Board considered information regarding the Manager's costs in serving as the Trust's investment adviser, including the costs associated with the personnel and systems necessary to manage the Trust, and information regarding the Manager's profitability from its relationship with the Trust. The Board reviewed the fees paid to the Manager and the other expenses borne by the Trust. The Board also evaluated the comparability of the fees charged and the services provided to the Trust to the fees and services for other clients or accounts advised by the Manager. The independent consultant provided comparative data in regard to the fees and expenses of the Trust, other money market funds and other funds with comparable asset levels and distribution features. The Board noted that the Trust's contractual 23 | CENTENNIAL MONEY MARKET TRUST BOARD APPROVAL OF THE TRUST'S INVESTMENT ADVISORY AGREEMENT Unaudited / Continued - -------------------------------------------------------------------------------- management fees are at its peer group median and lower than its expense group average, although its actual management fees and total expenses are slightly higher than its peer group median. However, the Board concluded that the Trust's management fees are reasonable in light of the Trust's performance. ECONOMIES OF SCALE. The Board considered whether the Manager may realize economies of scale in managing and supporting the Trust, whether those economies of scale benefit the Trust's shareholders and the current level of Trust assets in relation to the Trust's management fee breakpoints, which are intended to share with shareholders economies of scale that may exist as the Trust grows. OTHER BENEFITS TO THE MANAGER. In addition to considering the profits realized by the Manager, the Board considered information that was provided regarding the direct and indirect benefits the Manager receives as a result of its relationship with the Trust, including compensation paid to the Manager's affiliates. The Board also considered the nature and quality of services provided by affiliates of the Manager, which it reviews at other times during the year in connection with the renewal of the Trust's service agreements. The Board considered that the Manager must be able to pay and retain experienced professional personnel at competitive rates to provide services to the Trust and that maintaining the financial viability of the Manager is important in order for the Manager to continue to provide significant services to the Trust and its shareholders. CONCLUSIONS. These factors were also considered by the independent Trustees meeting separately from the full Board, assisted by experienced counsel to the Trust and to the independent Trustees. Trust counsel and the independent Trustees' counsel are both independent of the Manager within the meaning and intent of the Securities and Exchange Commission Rules. Based on its review of the information it received and its evaluations described above, the Board, including a majority of the independent Trustees, decided to continue the advisory agreement for another year. In arriving at this decision, the Board did not single out any factor or factors as being more important than others, but considered all of the factors together. The Board judged the terms and conditions of the advisory agreement, including the management fee, in light of all of the surrounding circumstances. 24 | CENTENNIAL MONEY MARKET TRUST ITEM 2. CODE OF ETHICS. Not applicable to semiannual reports. ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT. Not applicable to semiannual reports. ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES. Not applicable to semiannual reports. ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS Not applicable. ITEM 6. SCHEDULE OF INVESTMENTS. Not applicable. ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES. Not applicable. ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES. Not applicable. ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS. Not applicable. ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS. THE FUND'S GOVERNANCE COMMITTEE PROVISIONS WITH RESPECT TO NOMINATIONS OF DIRECTORS/TRUSTEES TO THE RESPECTIVE BOARDS 1. The Fund's 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 individual's 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 individual's 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: o the name, address, and business, educational, and/or other pertinent background of the person being recommended; o a statement concerning whether the person is an "interested person" as defined in the Investment Company Act of 1940; o 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 o 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. The recommendation also can include any additional information which the person submitting it believes would assist the Committee in evaluating the recommendation. 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. ITEM 11. CONTROLS AND PROCEDURES. Based on their evaluation of the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of December 31, 2005, the registrant's principal executive officer and principal financial officer found the registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. There have been no changes in the registrant's internal controls over financial reporting that occurred during the registrant's second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 12. EXHIBITS. (a) (1) Not applicable to semiannual reports. (2) Exhibits attached hereto. (3) Not applicable. (b) Exhibit attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and 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. Centennial Money Market Trust By: /s/ John V. Murphy ------------------ John V. Murphy Principal Executive Officer Date: February 14, 2006 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By:/s/ John V. Murphy ------------------ John V. Murphy Principal Executive Officer Date: February 14, 2006 By: /s/ Brian W. Wixted ------------------- Brian W. Wixted Principal Financial Officer Date: February 14, 2006 EX-99.CERT 2 rs150_18678-ex302.txt RS150_18678-EX302 Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, John V. Murphy, certify that: 1. I have reviewed this report on Form N-CSR of Centennial Money Market Trust; 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 registrant's 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 registrant's 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 registrant's 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 registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's 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 registrant's 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 registrant's internal control over financial reporting. Date: February 14, 2006 /s/ John V. Murphy - ------------------ John V. Murphy Principal Executive Officer Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, Brian W. Wixted, certify that: 1. I have reviewed this report on Form N-CSR of Centennial Money Market Trust; 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 registrant's 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 registrant's 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 registrant's 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 registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's 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 registrant's 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 registrant's internal control over financial reporting. Date: February 14, 2006 /s/ Brian W. Wixted - -------------------- Brian W. Wixted Principal Financial Officer EX-99.906CERT 3 rs150_18678-ex906.txt RS150_18678-EX906 EX-99.906CERT Section 906 Certifications CERTIFICATION PURSUANT TO 18 U.S.C SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002 John V. Murphy, Principal Executive Officer, and Brian W. Wixted, Principal Financial Officer, of Centennial Money Market Trust (the "Registrant"), each certify to the best of his knowledge that: 1. The Registrant's periodic report on Form N-CSR for the period ended December 31, 2005 (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. Section 1350 and is not being filed as part of the Form N-CSR filed with the Commission. Principal Executive Officer Principal Financial Officer Centennial Money Market Trust Centennial Money Market Trust /s/ John V. Murphy /s/ Brian W. Wixted - ------------------------------- ------------------------------- John V. Murphy Brian W. Wixted Date: February 14, 2006 Date: February 14, 2006 -----END PRIVACY-ENHANCED MESSAGE-----