form_ex23-320.htm

0000701382-11-000010.txt : 20111028 0000701382-11-000010.hdr.sgml : 20111028 20111028102140 ACCESSION NUMBER: 0000701382-11-000010 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20110831 FILED AS OF DATE: 20111028 DATE AS OF CHANGE: 20111028 EFFECTIVENESS DATE: 20111028 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER CAPITAL APPRECIATION FUND CENTRAL INDEX KEY: 0000319767 IRS NUMBER: 133054122 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-03105 FILM NUMBER: 111163687 BUSINESS ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY STREET 2: N/A CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 BUSINESS PHONE: 303-768-3200 MAIL ADDRESS: STREET 1: 6803 SOUTH TUCSON WAY STREET 2: N/A CITY: CENTENNIAL STATE: CO ZIP: 80112-3924 FORMER COMPANY: FORMER CONFORMED NAME: OPPENHEIMER TARGET FUND DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: OPPENHEIMER TARGET FUND INC DATE OF NAME CHANGE: 19870616

0000319767 S000006959 OPPENHEIMER CAPITAL APPRECIATION FUND

C000018983 A

C000018984 B

C000018985 C

C000018986 N

C000018987 Y

NSAR-B 1 answer.fil OPPENHEIMER CAPITAL APPRECIATION FUND PAGE 1 000 B000000 08/31/2011 000 C000000 0000319767 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 6.1 000 J000000 A 001 A000000 OPPENHEIMER CAPITAL APPRECIATION FUND 001 B000000 811-3105 001 C000000 3037683468 002 A000000 6803 S. Tucson Way 002 B000000 Centennial 002 C000000 CO 002 D010000 80112 002 D020000 3924 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 N 007 B000000 0 007 C010100 1 008 A000001 OPPENHEIMERFUNDS, INC. 008 B000001 A 008 C000001 801-08253 008 D010001 NEW YORK 008 D020001 NY 008 D030001 10281 008 D040001 1008 011 A000001 OPPENHEIMERFUNDS DISTRIBUTOR, INC. 011 B000001 8-22992 011 C010001 NEW YORK 011 C020001 NY 011 C030001 10281 011 C040001 1008 012 A000001 OPPENHEIMERFUNDS, INC. 012 B000001 84-01562 012 C010001 CENTENNIAL 012 C020001 CO 012 C030001 80112 012 C040001 3924 013 A000001 KPMG LLP 013 B010001 DENVER 013 B020001 CO 013 B030001 80202 015 A000001 JP MORGAN CHASE BANK 015 B000001 C 015 C010001 BROOKLYN 015 C020001 NY PAGE 2 015 C030001 11245 015 E010001 X 018 000000 Y 019 A000000 Y 019 B000000 96 019 C000000 OPPENHEIMR 020 A000001 J.P. MORGAN SECURITIES INC. 020 B000001 13-3224016 020 C000001 185 020 A000002 BARCLAYS CAPITAL, INC. 020 B000002 06-1031656 020 C000002 177 020 A000003 UBS SECURITIES LLC 020 B000003 98-0186363 020 C000003 106 020 A000004 CREDIT SUISSE SECURITIES (USA) LLC 020 B000004 13-8988118 020 C000004 76 020 A000005 GOLDMAN SACHS & CO 020 B000005 13-5108880 020 C000005 69 020 A000006 NOMURA SECURITIES INTERNATIONAL, INC. 020 B000006 13-2642206 020 C000006 60 020 A000007 BNY CONVERGEX EXECUTION SOLUTIONS LLC 020 B000007 13-3989198 020 C000007 52 020 A000008 CITIGROUP GLOBAL MARKETS INC. 020 B000008 11-2418191 020 C000008 48 020 A000009 INTERNATIONAL STRATEGY & INVESTMENTS 020 C000009 48 020 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH INC. 020 B000010 13-5674085 020 C000010 48 021 000000 1365 022 A000001 J.P. MORGAN SECURITIES INC. 022 B000001 13-3224016 022 C000001 45821 022 D000001 25771 022 A000002 BARCLAYS CAPITAL, INC. 022 B000002 06-1031656 022 C000002 7675 022 D000002 12455 022 A000003 NOMURA SECURITIES INTERNATIONAL, INC. 022 B000003 13-2642206 022 C000003 10635 022 D000003 7598 022 A000004 Brown Brothers Harriman 022 B000004 13-4973745 022 C000004 0 PAGE 3 022 D000004 13167 022 A000005 BNY CONVERGEX EXECUTION SOLUTIONS LLC 022 B000005 13-3989198 022 C000005 7325 022 D000005 2158 022 A000006 UBS SECURITIES LLC 022 B000006 98-0186363 022 C000006 0 022 D000006 8016 022 A000007 GOLDMAN SACHS & CO 022 B000007 13-5108880 022 C000007 3850 022 D000007 0 022 A000008 CITIGROUP GLOBAL MARKETS INC. 022 B000008 11-2418191 022 C000008 0 022 D000008 2584 022 A000009 RBS SECURITIES, INC. 022 B000009 13-3172275 022 C000009 1884 022 D000009 0 022 A000010 DEUTSCHE BANK SECURITIES INC. 022 B000010 13-2730828 022 C000010 0 022 D000010 1711 023 C000000 77762 023 D000000 76065 024 000000 N 026 A000000 N 026 B000000 Y 026 C000000 N 026 D000000 Y 026 E000000 N 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 Y 028 A010000 50358 028 A020000 0 028 A030000 0 028 A040000 136833 028 B010000 62767 028 B020000 0 028 B030000 0 028 B040000 152315 028 C010000 53270 028 C020000 0 028 C030000 0 028 C040000 159034 028 D010000 40801 PAGE 4 028 D020000 0 028 D030000 0 028 D040000 111881 028 E010000 58346 028 E020000 0 028 E030000 0 028 E040000 172596 028 F010000 24346 028 F020000 0 028 F030000 0 028 F040000 284633 028 G010000 289888 028 G020000 0 028 G030000 0 028 G040000 1017292 028 H000000 149763 029 000000 Y 030 A000000 2461 030 B000000 5.75 030 C000000 0.00 031 A000000 734 031 B000000 0 032 000000 1727 033 000000 0 034 000000 Y 035 000000 576 036 A000000 N 036 B000000 0 037 000000 N 038 000000 0 039 000000 N 040 000000 Y 041 000000 Y 042 A000000 0 042 B000000 0 042 C000000 0 042 D000000 0 042 E000000 0 042 F000000 0 042 G000000 0 042 H000000 0 043 000000 16827 044 000000 59062 045 000000 Y 046 000000 N 047 000000 Y 048 000000 0.000 048 A010000 200000 048 A020000 0.750 048 B010000 200000 048 B020000 0.720 PAGE 5 048 C010000 200000 048 C020000 0.690 048 D010000 200000 048 D020000 0.660 048 E010000 700000 048 E020000 0.600 048 F010000 1000000 048 F020000 0.580 048 G010000 2000000 048 G020000 0.560 048 H010000 2000000 048 H020000 0.540 048 I010000 2000000 048 I020000 0.520 048 J010000 2500000 048 J020000 0.500 048 K010000 11000000 048 K020000 0.480 049 000000 N 050 000000 N 051 000000 N 052 000000 N 053 A000000 Y 053 B000000 Y 053 C000000 N 054 A000000 Y 054 B000000 Y 054 C000000 Y 054 D000000 N 054 E000000 N 054 F000000 N 054 G000000 Y 054 H000000 Y 054 I000000 N 054 J000000 Y 054 K000000 N 054 L000000 Y 054 M000000 Y 054 N000000 N 054 O000000 Y 055 A000000 N 055 B000000 N 056 000000 Y 057 000000 N 058 A000000 N 059 000000 Y 060 A000000 Y 060 B000000 Y 061 000000 1000 062 A000000 N 062 B000000 0.0 PAGE 6 062 C000000 0.0 062 D000000 0.0 062 E000000 0.0 062 F000000 0.0 062 G000000 0.0 062 H000000 0.0 062 I000000 0.0 062 J000000 0.0 062 K000000 0.0 062 L000000 0.0 062 M000000 0.0 062 N000000 0.0 062 O000000 0.0 062 P000000 0.0 062 Q000000 0.0 062 R000000 0.0 063 A000000 0 063 B000000 0.0 066 A000000 Y 066 B000000 N 066 C000000 Y 066 D000000 N 066 E000000 N 066 F000000 N 066 G000000 N 067 000000 N 068 A000000 N 068 B000000 N 069 000000 N 070 A010000 Y 070 A020000 N 070 B010000 Y 070 B020000 N 070 C010000 Y 070 C020000 N 070 D010000 Y 070 D020000 N 070 E010000 Y 070 E020000 N 070 F010000 Y 070 F020000 N 070 G010000 Y 070 G020000 N 070 H010000 Y 070 H020000 N 070 I010000 Y 070 I020000 N 070 J010000 Y 070 J020000 N 070 K010000 Y 070 K020000 Y PAGE 7 070 L010000 Y 070 L020000 Y 070 M010000 Y 070 M020000 Y 070 N010000 Y 070 N020000 N 070 O010000 Y 070 O020000 N 070 P010000 Y 070 P020000 Y 070 Q010000 N 070 Q020000 N 070 R010000 Y 070 R020000 N 071 A000000 1634434 071 B000000 2772830 071 C000000 5484654 071 D000000 30 072 A000000 12 072 B000000 5 072 C000000 71950 072 D000000 0 072 E000000 288 072 F000000 32511 072 G000000 2 072 H000000 0 072 I000000 14514 072 J000000 125 072 K000000 0 072 L000000 0 072 M000000 123 072 N000000 27 072 O000000 0 072 P000000 0 072 Q000000 0 072 R000000 26 072 S000000 54 072 T000000 15917 072 U000000 0 072 V000000 0 072 W000000 1251 072 X000000 64550 072 Y000000 29 072 Z000000 7722 072AA000000 319357 072BB000000 0 072CC010000 669802 072CC020000 0 072DD010000 0 072DD020000 0 072EE000000 0 PAGE 8 073 A010000 0.0000 073 A020000 0.0000 073 B000000 0.0000 073 C000000 0.0000 074 A000000 7 074 B000000 0 074 C000000 0 074 D000000 0 074 E000000 0 074 F000000 4790591 074 G000000 0 074 H000000 0 074 I000000 0 074 J000000 13688 074 K000000 0 074 L000000 16025 074 M000000 832 074 N000000 4821143 074 O000000 14372 074 P000000 3846 074 Q000000 0 074 R010000 0 074 R020000 0 074 R030000 0 074 R040000 21237 074 S000000 0 074 T000000 4781688 074 U010000 68982 074 U020000 5728 074 V010000 42.66 074 V020000 37.46 074 W000000 0.0000 074 X000000 586298 074 Y000000 83029 075 A000000 0 075 B000000 5549767 076 000000 0.00 077 A000000 Y 077 B000000 Y 077 E000000 Y 077 Q010000 N 077 Q020000 N 077 Q030000 N 078 000000 N 080 A000000 ICI Mutual Insurance Co. 080 C000000 130 081 A000000 Y 081 B000000 118 082 A000000 N 082 B000000 0 083 A000000 N PAGE 9 083 B000000 0 084 A000000 N 084 B000000 0 085 A000000 Y 085 B000000 N 086 A010000 0 086 A020000 0 086 B010000 0 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 SIGNATURE BRIAN W. WIXTED TITLE TREASURER EX-23 2 form_ex23-320.htm OPPENHEIMER CAPITAL APPRECIATION FUND form_ex23-320.htm

Report of Independent Registered Public Accounting Firm

The Board of Trustees and Shareholders

Oppenheimer Capital Appreciation Fund:

In planning and performing our audit of the financial statements of Oppenheimer Capital Appreciation Fund (the Fund) as of and for the year ended August 31, 2011, in accordance with the standards of the Public Company Accounting Oversight Board (United States), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-SAR, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company’s internal control over financial reporting is a process designed 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. A company’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the Public Company Accounting Oversight Board (United States). However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities that we consider to be a material weakness as defined above as of August 31, 2011.

This report is intended solely for the information and use of management and the Board of Trustees of Oppenheimer Capital Appreciation Fund and the Securities and Exchange Commission, and is not intended to be and should not be used by anyone other than these specified parties.

KPMG LLP

Denver, Colorado

October 17, 2011

EX-99.77E LEGAL 3 form_ex77e-320.htm OPPENHEIMER CAPITAL APPRECIATION FUND form_ex77e-320.htm

N-SAR EXHIBIT 77E

Pending Litigation. Since 2009, a number of class action, derivative and individual lawsuits have been pending in federal and state courts against OppenheimerFunds, Inc., the Fund’s investment advisor (the “Manager”), OppenheimerFunds Distributor, Inc., the Fund’s principal underwriter and distributor (the “Distributor”), and certain funds (but not including the Fund) advised by the Manager and distributed by the Distributor (the “Defendant Funds”). Several of these lawsuits also name as defendants certain officers and current and former trustees of the respective Defendant Funds. The lawsuits raise claims under federal securities laws and various states’ securities, consumer protection and common law and allege, among other things, that the disclosure documents of the respective Defendant Funds contained misrepresentations and omissions and that the respective Defendant Funds’ investment policies were not followed. The plaintiffs in these actions seek unspecified damages, equitable relief and awards of attorneys’ fees and litigation expenses. On June 1, 2011, the U.S. District Court for the District of Colorado gave preliminary approval to stipulations and agreements of settlement in certain putative class action lawsuits involving two Defendant Funds, Oppenheimer Champion Income Fund and Oppenheimer Core Bond Fund. On September 30, 2011, the court entered orders and final judgments approving the settlements as fair, reasonable and adequate. These settlements do not resolve other outstanding lawsuits relating to Oppenheimer Champion Income Fund and Oppenheimer Core Bond Fund, nor do the settlements affect certain other putative class action lawsuits pending in federal court against the Manager, the Distributor, and other Defendant Funds and their independent trustees.

In 2009, what are claimed to be derivative lawsuits were filed in New Mexico state court against the Manager and a subsidiary (but not against the Fund) on behalf of the New Mexico Education Plan Trust challenging a settlement reached in 2010 between the Manager, its subsidiary and the Distributor and the board of the New Mexico section 529 college savings plan. These lawsuits allege breach of contract, breach of fiduciary duty, negligence and violation of state securities laws, and seek compensatory damages, equitable relief and an award of attorneys’ fees and litigation expenses. On September 9, 2011, the court denied plaintiffs’ request for a hearing to determine the fairness of the settlement, finding that plaintiffs lacked standing to pursue derivative claims on behalf of the Trust.

Other class action and individual lawsuits have been filed since 2008 in various state and federal courts against the Manager and certain of its affiliates by investors seeking to recover investments they allegedly lost as a result of the “Ponzi” scheme run by Bernard L. Madoff and his firm, Bernard L. Madoff Investment Securities, LLC (“BLMIS”). Plaintiffs in these suits allege that they suffered losses as a result of their investments in several funds managed by an affiliate of the Manager and assert a variety of claims, including breach of fiduciary duty, fraud, negligent misrepresentation, unjust enrichment, and violation of federal and state securities laws and regulations, among others. They seek unspecified damages, equitable relief and awards of attorneys’ fees and litigation expenses. Neither the Distributor, nor any of the Oppenheimer mutual funds, their independent trustees or directors are named as defendants in these lawsuits. None of the Oppenheimer mutual funds invested in any funds or accounts managed by Madoff or BLMIS. On February 28, 2011, a stipulation of partial settlement of three groups of consolidated putative class action lawsuits relating to these matters was filed in the U.S. District Court for the Southern District of New York. On August 19, 2011, the court entered an order and final judgment approving the settlement as fair, reasonable and adequate. In September 2011, certain parties filed notices of appeal from the court’s order approving the settlement. On July 29, 2011, a stipulation of settlement between certain affiliates of the Manager and the Trustee appointed under the Securities Investor Protection Act to liquidate BLMIS was filed in the U.S. Bankruptcy Court for the Southern District of New York to resolve purported preference and fraudulent transfer claims by the Trustee. On September 22, 2011, the court entered an order approving the settlement as fair, reasonable and adequate. The aforementioned settlements do not resolve other outstanding lawsuits against the Manager and its affiliates relating to BLMIS.

On April 16, 2010, a lawsuit was filed in New York state court against the Manager, an affiliate of the Manager and AAArdvark IV Funding Limited (“AAArdvark IV”), an entity advised by the Manager’s affiliate, in connection with investments made by the plaintiffs in AAArdvark IV. Plaintiffs allege breach of contract against the defendants and seek compensatory damages, costs and disbursements, including attorney fees. On July 15, 2011, a lawsuit was filed in New York state court against the Manager, an affiliate of the Manager and AAArdvark Funding Limited (“AAArdvark I”), an entity advised by the Manager’s affiliate, in connection with investments made by the plaintiffs in AAArdvark I. The complaint alleges breach of contract against the defendants and seeks compensatory damages, costs and disbursements, including attorney fees.

The Manager believes the lawsuits described above are without legal merit and, with the exception of actions it has settled, is defending against them vigorously. The Defendant Funds’ Boards of Trustees have also engaged counsel to represent the Funds and the present and former Independent Trustees named in those suits. While it is premature to render any opinion as to the outcome in these lawsuits, or whether any costs that the Defendant Funds may bear in defending the suits might not be reimbursed by insurance, the Manager believes that these suits should not impair the ability of the Manager or the Distributor to perform their respective duties to the Fund, and that the outcome of all of the suits together should not have any material effect on the operations of any of the Oppenheimer mutual funds.

EX-99 4 form_ex99a-320.htm OPPENHEIMER CAPITAL APPRECIATION FUND form_ex99a-320.htm

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 Fund. Accordingly, the following amounts have been reclassified for August 31, 2011. Net assets

of the Fund were unaffected by the reclassifications.

Reduction Reduction to

to Accumulated Accumulated Net

Increase Net Investment Realized Loss

to Paid-in Capital Income on Investments

--------------------------------------------------------------------------------------------------------------------------------------------------------------

$38 $260,395 $260,357