-----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, Q/AwEriSvvxzC2wYpixdhKemk/RKx7dYbM+3SOboKeCcThGLa8Mnq0ZRSdkd0tn2 D7sFr7ypoR/bakMZ7xku+g== 0000950123-09-026198.txt : 20090728 0000950123-09-026198.hdr.sgml : 20090728 20090728140242 ACCESSION NUMBER: 0000950123-09-026198 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090531 FILED AS OF DATE: 20090728 DATE AS OF CHANGE: 20090728 EFFECTIVENESS DATE: 20090728 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: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-03105 FILM NUMBER: 09966793 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 N-Q 1 p14606nvq.txt N-Q UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-3105 Oppenheimer Capital Appreciation Fund (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: August 31 Date of reporting period: 05/31/2009 ITEM 1. SCHEDULE OF INVESTMENTS. Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited
Shares Value ---------- --------------- COMMON STOCKS--98.6% CONSUMER DISCRETIONARY--7.2% DIVERSIFIED CONSUMER SERVICES--1.1% Apollo Group, Inc., Cl. A(1) 1,009,610 $ 59,667,951 --------------- HOTELS, RESTAURANTS & LEISURE--0.7% McDonald's Corp. 603,260 35,586,307 --------------- MEDIA--2.2% Cablevision Systems Corp. New York Group, Cl. A 2,806,795 53,413,309 McGraw-Hill Cos., Inc. (The) 1,173,130 35,299,482 Walt Disney Co. (The) 1,170,760 28,355,807 --------------- 117,068,598 SPECIALTY RETAIL--1.0% Bed Bath & Beyond, Inc.(1) 282,450 7,939,670 Staples, Inc. 2,162,760 44,228,442 --------------- 52,168,112 TEXTILES, APPAREL & LUXURY GOODS--2.2% Coach, Inc.(1) 2,423,370 63,661,930 Nike, Inc., Cl. B 456,920 26,067,286 Polo Ralph Lauren Corp., Cl. A 516,055 27,774,080 --------------- 117,503,296 CONSUMER STAPLES--8.4% BEVERAGES--1.8% PepsiCo, Inc. 1,835,880 95,557,554 --------------- FOOD & STAPLES RETAILING--2.1% CVS Caremark Corp. 721,250 21,493,250 Wal-Mart Stores, Inc. 1,852,880 92,162,251 --------------- 113,655,501 FOOD PRODUCTS--2.6% Cadbury plc 3,817,004 33,362,836 Nestle SA 2,828,689 102,519,446 --------------- 135,882,282 --------------- HOUSEHOLD PRODUCTS--1.0% Colgate-Palmolive Co. 803,310 52,978,295 --------------- TOBACCO--0.9% Philip Morris International, Inc. 1,065,420 45,429,509 --------------- ENERGY--9.8% ENERGY EQUIPMENT & SERVICES--3.2% Cameron International Corp.(1) 1,239,070 38,696,156 Schlumberger Ltd. 1,513,316 86,607,075 Transocean Ltd.(1) 279,540 22,217,839 Weatherford International Ltd.(1) 989,300 20,478,510 --------------- 167,999,580 OIL, GAS & CONSUMABLE FUELS--6.6% Apache Corp. 573,720 48,341,647 Occidental Petroleum Corp. 1,537,262 103,165,653 Range Resources Corp. 1,404,683 64,348,528 Southwestern Energy Co.(1) 708,780 30,810,667
1 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited
Shares Value ---------- --------------- COMMON STOCKS CONTINUED OIL, GAS & CONSUMABLE FUELS CONTINUED XTO Energy, Inc. 2,469,096 $ 105,603,236 --------------- 352,269,731 FINANCIALS--9.3% CAPITAL MARKETS--4.6% Charles Schwab Corp. (The) 2,852,440 50,202,944 Credit Suisse Group AG 1,373,496 61,465,625 Goldman Sachs Group, Inc. (The) 431,734 62,415,784 Julius Baer Holding AG 571,186 24,337,282 Northern Trust Corp. 375,570 21,651,611 T. Rowe Price Group, Inc. 545,130 22,115,924 --------------- 242,189,170 COMMERCIAL BANKS--0.7% Wells Fargo & Co. 1,429,400 36,449,700 --------------- DIVERSIFIED FINANCIAL SERVICES--3.6% BM&F BOVESPA SA 7,444,000 42,675,503 IntercontinentalExchange, Inc.(1) 837,820 90,308,618 MSCI, Inc., Cl. A(1) 2,718,980 57,832,705 --------------- 190,816,826 REAL ESTATE MANAGEMENT & DEVELOPMENT--0.4% Jones Lang LaSalle, Inc. 706,790 24,772,990 --------------- HEALTH CARE--16.9% BIOTECHNOLOGY--3.9% Amgen, Inc.(1) 644,830 32,202,810 Celgene Corp.(1) 1,621,390 68,487,514 Gilead Sciences, Inc.(1) 1,864,468 80,358,571 Vertex Pharmaceuticals, Inc.(1) 787,150 23,464,942 --------------- 204,513,837 HEALTH CARE EQUIPMENT & SUPPLIES--4.0% Bard (C.R.), Inc. 377,219 26,967,386 Baxter International, Inc. 2,128,050 108,934,880 Dentsply International, Inc. 1,606,020 46,992,145 Stryker Corp. 706,190 27,145,944 --------------- 210,040,355 HEALTH CARE PROVIDERS & SERVICES--3.0% Express Scripts, Inc.(1) 1,443,280 92,442,084 Medco Health Solutions, Inc.(1) 658,310 30,209,846 Schein (Henry), Inc.(1) 820,377 37,359,969 --------------- 160,011,899 LIFE SCIENCES TOOLS & SERVICES--2.3% Illumina, Inc.(1) 1,241,140 45,562,249 Thermo Fisher Scientific, Inc.(1) 2,008,797 78,162,291 --------------- 123,724,540 PHARMACEUTICALS--3.7% Abbott Laboratories 906,690 40,855,451 Allergan, Inc. 1,033,324 45,600,588
2 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited
Shares Value ---------- --------------- COMMON STOCKS CONTINUED PHARMACEUTICALS CONTINUED Novo Nordisk AS, Cl. B 436,570 $ 22,750,107 Roche Holding AG 382,974 52,220,467 Shire plc 2,448,648 33,975,812 --------------- 195,402,425 INDUSTRIALS--6.7% AEROSPACE & DEFENSE--3.5% General Dynamics Corp. 609,488 34,679,867 Goodrich Corp. 395,450 19,195,143 Lockheed Martin Corp. 1,223,798 102,346,227 United Technologies Corp. 527,615 27,757,825 --------------- 183,979,062 CONSTRUCTION & ENGINEERING--0.5% Quanta Services, Inc.(1) 1,255,140 28,629,743 --------------- ELECTRICAL EQUIPMENT--1.5% ABB Ltd. 4,942,970 81,466,617 --------------- MACHINERY--0.7% Joy Global, Inc. 1,027,260 35,409,652 --------------- ROAD & RAIL--0.5% Burlington Northern Santa Fe Corp. 361,750 26,205,170 --------------- INFORMATION TECHNOLOGY--32.1% COMMUNICATIONS EQUIPMENT--7.7% Cisco Systems, Inc.(1) 1,707,923 31,596,576 F5 Networks, Inc.(1) 816,600 25,935,216 Juniper Networks, Inc.(1) 1,479,620 36,591,003 QUALCOMM, Inc. 4,515,670 196,838,055 Research in Motion Ltd.(1) 1,487,879 117,006,805 --------------- 407,967,655 COMPUTERS & PERIPHERALS--5.0% Apple, Inc.(1) 1,237,380 168,048,578 Hewlett-Packard Co. 1,332,470 45,770,345 NetApp, Inc.(1) 2,550,440 49,733,580 --------------- 263,552,503 ELECTRONIC EQUIPMENT & INSTRUMENTS--0.4% FLIR Systems, Inc.(1) 1,067,950 23,986,157 --------------- INTERNET SOFTWARE & SERVICES--4.4% eBay, Inc.(1) 2,198,390 38,735,632 Google, Inc., Cl. A(1) 460,436 192,107,712 --------------- 230,843,344 IT SERVICES--5.0% Accenture Ltd., Cl. A 1,426,900 42,707,117 MasterCard, Inc., Cl. A 549,910 96,965,630 SAIC, Inc.(1) 1,925,970 33,646,696 Visa, Inc., Cl. A 1,383,430 93,672,045 --------------- 266,991,488
3 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited
Shares Value ---------- --------------- COMMON STOCKS CONTINUED SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT--4.9% Applied Materials, Inc. 2,491,130 $ 28,050,124 Broadcom Corp., Cl. A(1) 2,850,215 72,623,478 MEMC Electronic Materials, Inc.(1) 1,761,870 33,986,472 NVIDIA Corp.(1) 6,785,530 70,773,078 Texas Instruments, Inc. 2,676,620 51,926,428 --------------- 257,359,580 SOFTWARE--4.7% Adobe Systems, Inc.(1) 2,012,010 56,698,442 CA, Inc. 1,266,050 22,092,573 Microsoft Corp. 2,871,116 59,977,613 Nintendo Co. Ltd. 215,900 58,654,276 Oracle Corp. 1,295,580 25,380,412 Salesforce.com, Inc.(1) 732,744 27,807,635 --------------- 250,610,951 MATERIALS--5.9% CHEMICALS--5.9% Ecolab, Inc. 607,430 22,687,511 Monsanto Co. 1,847,433 151,766,621 Potash Corp. of Saskatchewan, Inc. 456,620 52,894,861 Praxair, Inc. 1,161,645 85,032,409 --------------- 312,381,402 TELECOMMUNICATION SERVICES--2.3% WIRELESS TELECOMMUNICATION SERVICES--2.3% Crown Castle International Corp.(1) 2,831,299 68,687,314 NII Holdings, Inc.(1) 2,610,673 53,414,370 --------------- 122,101,684 --------------- Total Common Stocks (Cost $4,759,076,395) 5,225,173,466 --------------- OTHER SECURITIES--0.0% Seagate Technology International, Inc. (1,2,3) (Cost $0) 988,400 98,840 --------------- INVESTMENT COMPANIES--1.4% JPMorgan U.S. Treasury Plus Money Market Fund, Agency Shares, 0.09%(5) 422,479 422,479 Oppenheimer Institutional Money Market Fund, Cl. E, 0.60%(4,5) 72,407,363 72,407,363 --------------- Total Investment Companies (Cost $72,829,842) 72,829,842 --------------- Total Investments, at Value (Cost $4,831,906,237) 100.0% 5,298,102,148 Other Assets Net of Liabilities 0.0 2,460,030 ---------- --------------- Net Assets 100.0% $ 5,300,562,178 ========== ===============
4 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited Footnotes to Statement of Investments (1.) Non-income producing security. (2.) Illiquid security. The aggregate value of illiquid securities as of May 31, 2009 was $98,840, which represents less than 0.005% of the Fund's net assets. See accompanying Notes. (3.) Escrow shares received as the result of issuer reorganization. (4.) Is or was an affiliate, as defined in the Investment Company Act of 1940, at or during the period ended May 31, 2009, by virtue of the Fund owning at least 5% of the voting securities of the issuer or as a result of the Fund and the issuer having the same investment adviser. Transactions during the period in which the issuer was an affiliate are as follows:
SHARES GROSS GROSS SHARES AUGUST 31, 2008 ADDITIONS REDUCTIONS MAY 31, 2009 --------------- ----------- ----------- ------------ Oppenheimer Institutional Money Market Fund, Cl. E 82,223,122 985,715,817 995,531,576 72,407,363
VALUE INCOME ----------- -------- Oppenheimer Institutional Money Market Fund, Cl. E $72,407,363 $622,153
5. Rate shown is the 7-day yield as of May 31, 2009. 5 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited VALUATION INPUTS Various data inputs are used in determining the value of each of the Fund's investments as of the reporting period end. These data inputs are categorized in the following hierarchy under applicable financial accounting standards: 1) Level 1-quoted prices in active markets for identical assets or liabilities (including securities actively traded on a securities exchange) 2) Level 2-inputs other than quoted prices that are observable for the asset (such as quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.) 3) Level 3-unobservable inputs (including the Manager's own judgments about assumptions that market participants would use in pricing the asset). The market value of the Fund's investment was determined based on the following inputs as of May 31, 2009:
INVESTMENTS OTHER FINANCIAL VALUATION DESCRIPTION IN SECURITIES INSTRUMENTS* - --------------------- -------------- ---------------- Level 1--Quoted Prices $5,004,318,381 $-- Level 2--Other Significant Observable Inputs 293,783,767 -- Level 3--Significant Unobservable Inputs -- -- -------------- --- Total $5,298,102,148 $-- ============== ===
* Other financial instruments include options written, currency contracts, futures, forwards and swap contracts. Currency contracts and forwards are reported at their unrealized appreciation/depreciation at measurement date, which represents the change in the contract's value from trade date. Futures are reported at their variation margin at measurement date, which represents the amount due to/from the Fund at that date. Options written and swaps are reported at their market value at measurement date. SEE THE ACCOMPANYING NOTES FOR FURTHER DISCUSSION OF THE METHODS USED IN DETERMINING VALUE OF THE FUND'S INVESTMENTS, AND A SUMMARY OF CHANGES TO THE VALUATION TECHNIQUES, IF ANY, DURING THE REPORTING PERIOD. NOTES TO STATEMENT OF INVESTMENTS SECURITIES VALUATION. The Fund calculates the net asset value of its shares as of the close of the New York Stock Exchange (the "Exchange"), normally 4:00 P.M. Eastern time, on each day the Exchange is open for trading. 6 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited Effective for fiscal periods beginning after November 15, 2007, FASB Statement of Financial Accounting Standards No. 157, FAIR VALUE MEASUREMENTS, establishes a hierarchy for measuring fair value of assets and liabilities. As required by the standard, each investment asset or liability of the Fund is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Quoted prices in active markets for identical securities are classified as "Level 1," inputs other than quoted prices for an asset that are observable are classified as "Level 2" and unobservable inputs, including the Manager's judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as "Level 3." The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. A table summarizing the Fund's investments under these levels of classification is included following the Statement of Investments. Securities are valued using quoted market prices, when available, as supplied primarily either by portfolio pricing services approved by the Board of Trustees or dealers. These securities are typically classified within Level 1 or 2; however, they may be designated as Level 3 if the dealer or portfolio pricing service values a security through an internal model with significant unobservable inputs. Securities traded on a registered U.S. securities exchange are valued based on the last sale price of the security reported on the principal exchange on which traded, prior to the time when the Fund's assets are valued. Securities whose principal exchange is NASDAQ(R) are valued based on the official closing prices reported by NASDAQ prior to the time when the Fund's assets are valued. In the absence of a sale, the security is valued at the last sale price on the prior trading day, if it is within the spread of the current day's closing "bid" and "asked" prices, and if not, at the current day's closing bid price. A foreign security traded on a foreign exchange is valued based on the last sale price on the principal exchange on which the security is traded, as identified by the portfolio pricing service used by the Manager, prior to the time when the Fund's assets are valued. In the absence of a sale, the security is valued at the most recent official closing price on the principal exchange on which it is traded. Shares of a registered investment company that are not traded on an exchange are valued at that investment company's net asset value per share. Corporate, government and municipal debt instruments having a remaining maturity in excess of sixty days and all mortgage-backed securities, collateralized mortgage obligations and other asset-backed securities are valued at the mean between the "bid" and "asked" prices. "Money market-type" debt instruments with remaining maturities of sixty days or less are valued at cost adjusted by the amortization of discount or premium to maturity (amortized cost), which approximates market value. These securities are typically designated as Level 2. 7 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited In the absence of a readily available quoted market price, including for securities whose values have been materially affected by what the Manager identifies as a significant event occurring before the Fund's assets are valued but after the close of the securities' respective exchanges, the Manager, acting through its internal valuation committee, in good faith determines the fair valuation of that asset using consistently applied procedures under the supervision of the Board of Trustees (which reviews those fair valuations by the Manager). Those procedures include certain standardized methodologies to fair value securities. Such methodologies include, but are not limited to, pricing securities initially at cost and subsequently adjusting the value based on: changes in company specific fundamentals, changes in an appropriate securities index, or changes in the value of similar securities which may be adjusted for any discounts related to resale restrictions. When possible, such methodologies use observable market inputs such as quoted prices of similar securities, observable interest rates, currency rates and yield curves. The methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Fair valued securities may be classified as "Level 3" if the Manager's own assumptions about the inputs that market participants would use in valuing such securities are significant to the fair value. There have been no significant changes to the fair valuation methodologies during the period. FOREIGN CURRENCY TRANSLATION. The Fund's accounting records are maintained in U.S. dollars. The values of securities denominated in foreign currencies and amounts related to the purchase and sale of foreign securities and foreign investment income are translated into U.S. dollars as of the close of the Exchange, normally 4:00 P.M. Eastern time, on each day the Exchange is open for trading. Foreign exchange rates may be valued primarily using a reliable bank, dealer or service authorized by the Board of Trustees. Reported net realized gains and losses from foreign currency transactions arise from sales of portfolio securities, sales and maturities of short-term securities, sales of foreign currencies, exchange rate fluctuations between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund's books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized appreciation and depreciation on the translation of assets and liabilities denominated in foreign currencies arise from changes in the values of assets and liabilities, including investments in securities at fiscal period end, resulting from changes in exchange rates. The effect of changes in foreign currency exchange rates on investments is separately identified from the fluctuations arising from changes in market values 8 | Oppenheimer Capital Appreciation Fund Oppenheimer Capital Appreciation Fund STATEMENT OF INVESTMENTS May 31, 2009 / Unaudited of securities held and reported with all other foreign currency gains and losses in the Fund's Statement of Operations in the annual and semiannual reports. INVESTMENT IN OPPENHEIMER INSTITUTIONAL MONEY MARKET FUND. The Fund is permitted to invest daily available cash balances in an affiliated money market fund. The Fund may invest the available cash in Class E shares of Oppenheimer Institutional Money Market Fund ("IMMF") to seek current income while preserving liquidity. IMMF is a registered open-end management investment company, regulated as a money market fund under the Investment Company Act of 1940, as amended. The Manager is also the investment adviser of IMMF. When applicable, the Fund's investment in IMMF is included in the Statement of Investments. As a shareholder, the Fund is subject to its proportional share of IMMF's Class E expenses, including its management fee. The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Fund's investment in IMMF. ILLIQUID SECURITIES As of May 31, 2009, investments in securities included issues that are illiquid. Investments may be illiquid because they do not have an active trading market, making it difficult to value them or dispose of them promptly at an acceptable price. The Fund 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 an applicable footnote on the Statement of Investments. FEDERAL TAX. The approximate aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments for federal income tax purposes as of May 31, 2009 are noted below. The primary difference between book and tax appreciation or depreciation of securities and other investments, if applicable, is attributable to the tax deferral of losses. Federal tax cost of securities $5,186,155,629 ============== Gross unrealized appreciation $ 479,733,876 Gross unrealized depreciation (367,787,357) -------------- Net unrealized appreciation $ 111,946,519 ==============
9 | Oppenheimer Capital Appreciation Fund ITEM 2. CONTROLS AND PROCEDURES. (a) 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 05/31/2009, 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 the 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. (b) There have been no significant changes in the registrant's internal controls over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Exhibits 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. Oppenheimer Capital Appreciation Fund By: /s/ John V. Murphy --------------------------------- John V. Murphy Principal Executive Officer Date: 07/13/2009 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: 07/13/2009 By: /s/ Brian W. Wixted --------------------------------- Brian W. Wixted Principal Financial Officer Date: 07/13/2009 EX-99.CERT 2 p14606exv99wcert.txt EX-99.CERT Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, John V. Murphy, certify that: 1. I have reviewed this report on Form N-Q of Oppenheimer Capital Appreciation Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 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 registrant's most recent fiscal quarter 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. /s/ John V. Murphy - ------------------------------------- John V. Murphy Principal Executive Officer Date: 07/13/2009 Exhibit 99.CERT Section 302 Certifications CERTIFICATIONS I, Brian W. Wixted, certify that: 1. I have reviewed this report on Form N-Q of Oppenheimer Capital Appreciation Fund; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 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 registrant's most recent fiscal quarter 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. /s/ Brian W. Wixted - ------------------------------------- Brian W. Wixted Principal Financial Officer Date: 07/13/2009 -----END PRIVACY-ENHANCED MESSAGE-----