0001193125-17-338368.txt : 20171109 0001193125-17-338368.hdr.sgml : 20171109 20171109113515 ACCESSION NUMBER: 0001193125-17-338368 CONFORMED SUBMISSION TYPE: 485BPOS PUBLIC DOCUMENT COUNT: 16 FILED AS OF DATE: 20171109 DATE AS OF CHANGE: 20171109 EFFECTIVENESS DATE: 20171109 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER CAPITAL APPRECIATION FUND CENTRAL INDEX KEY: 0000319767 IRS NUMBER: 133054122 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1933 Act SEC FILE NUMBER: 002-69719 FILM NUMBER: 171189552 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 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER CAPITAL APPRECIATION FUND CENTRAL INDEX KEY: 0000319767 IRS NUMBER: 133054122 STATE OF INCORPORATION: DE FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 485BPOS SEC ACT: 1940 Act SEC FILE NUMBER: 811-03105 FILM NUMBER: 171189553 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 R C000018987 Y C000109448 I 485BPOS 1 d464602d485bpos.htm CAPITAL APPRECIATION Capital Appreciation
Registration No. (2-69719)
File No. (811-3105)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Pre­Effective Amendment No.
Post­Effective Amendment No. 72
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. 65
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)
(303) 768-3200
(Registrant’s Telephone Number, including Area Code)
Cynthia Lo Bessette, Esq.
OFI Global Asset Management, Inc.
225 Liberty Street, New York, New York 10281-1008
(Name and Address of Agent for Service)
It is proposed that this filing will become effective (check appropriate box):
☒ immediately upon filing pursuant to paragraph (b)
□ on                                        pursuant to paragraph (b)
□ 60 days after filing pursuant to paragraph (a)(1)
□ on                                       pursuant to paragraph (a)(1)
□ 75 days after filing pursuant to paragraph (a)(2)
□ on                                       pursuant to paragraph (a)(2) of Rule 485.
If appropriate, check the following box:
□ This post-effective amendment designates a new effective date for a previously filed post-effective amendment.

 


SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant certifies that it meets all the requirements for effectiveness of this Registration Statement pursuant to Rule 485(b) under the Securities Act of 1933 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of New York and State of New York on the 9th day of November 2017.
  Oppenheimer Capital Appreciation Fund
 
By: Arthur P. Steinmetz*
  Arthur P. Steinmetz
Trustee, President and Principal Executive Officer
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has been signed below by the following persons in the capacities on the dates indicated:
Signatures   Title   Date
Brian F. Wruble*
Brian F. Wruble
  Chairman of the Board of Trustees   November 9, 2017
Arthur P. Steinmetz*
Arthur P. Steinmetz
  Trustee, President and Principal Executive Officer   November 9, 2017
Brian S. Petersen*
Brian S. Petersen
  Treasurer, Principal Financial & Accounting Officer   November 9, 2017
Beth Ann Brown*
Beth Ann Brown
  Trustee   November 9, 2017
Edmund P. Giambastiani, Jr.*
Edmund P. Giambastiani, Jr.
  Trustee   November 9, 2017
Elizabeth Krentzman*
Elizabeth Krentzman
  Trustee   November 9, 2017
Mary F. Miller*
Mary F. Miller
  Trustee   November 9, 2017
Joel W. Motley*
Joel W. Motley
  Trustee   November 9, 2017
Joanne Pace*
Joanne Pace
  Trustee   November 9, 2017
Daniel S. Vandivort*
Daniel S. Vandivort
  Trustee   November 9, 2017
*By: /s/ Taylor V. Edwards
Taylor V. Edwards, Attorney-in-Fact
       

 


EXHIBIT INDEX
Exhibit No.   Description
     
Ex-101.INS   XBRL Instance Document
Ex-101.SCH   XBRL Taxonomy Extension Schema Document
Ex-101.CAL   XBRL Taxonomy Extension Calculation Linkbase Document
Ex-101.DEF   XBRL Taxonomy Extension Definition Linkbase
Ex-101.LAB   XBRL Taxonomy Extension Labels Linkbase
Ex-101.PRE   XBRL Taxonomy Extension Presentation Linkbase Document
EX-101.INS 2 ocaf-20171026.xml XBRL INSTANCE DOCUMENT 0000319767 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000018983Member 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000018984Member 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000018985Member 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000018986Member 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000018987Member 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000109448Member 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000018983Member rr:AfterTaxesOnDistributionsMember 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:C000018983Member rr:AfterTaxesOnDistributionsAndSalesMember 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:SAndPFiveHuneredIndexMember 2017-10-27 2017-10-27 0000319767 ocaf:S000006959Member ocaf:RussellThousandGrowthIndexMember 2017-10-27 2017-10-27 pure iso4217:USD 2017-10-27 485BPOS 2017-08-31 OPPENHEIMER CAPITAL APPRECIATION FUND 0000319767 false 2017-10-26 2017-10-27 <b>The Fund Summary </b> <b>Investment Objective.</b> The Fund seeks capital appreciation. <b>Fees and Expenses of the Fund.</b> This table describes the fees and expenses that you may pay if you buy and hold or redeem shares of the Fund. You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. More information about these and other discounts and sales charge waivers is available from your financial professional and in the section &#8220;About Your Account&#8221; beginning on page 11 of the prospectus, in the appendix to the prospectus titled &#8220;Special Sales Charge Arrangements and Waivers&#8221; and in the section &#8220;How to Buy Shares&#8221; beginning on page 48 in the Fund&#8217;s Statement of Additional Information. <b>Shareholder Fees </b><br/>(fees paid directly from your investment) <b>Annual Fund Operating Expenses</b><br/> (expenses that you pay each year as a percentage of the value of your investment) <b>Example.</b> The following Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in a class of shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund&#8217;s operating expenses remain the same. Any applicable fee waivers and/or expense reimbursements would be reflected in the below examples for the first year only. Although your actual costs may be higher or lower, based on these assumptions your expenses would be as follows: <b>If shares are redeemed</b> <b>If shares are not redeemed</b> <b>Portfolio Turnover. </b> The Fund pays transaction costs, such as commissions, when it buys and sells securities (or &#8220;turns over&#8221; its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the Example, affect the Fund&#8217;s performance. During the most recent fiscal year, the Fund&#8217;s portfolio turnover rate was 63% of the average value of its portfolio. <b>Principal Investment Strategies.</b> The Fund mainly invests in common stocks of &#8220;growth companies.&#8221; Growth companies are companies whose earnings and stock prices are expected to increase at a faster rate than the overall market. These may be newer companies or established companies of any capitalization range that the portfolio manager believes may appreciate in value over the long term. Currently, the Fund primarily focuses on established companies that are similar in size to companies in the S&amp;P 500 Index or the Russell 1000 Growth Index. The Fund primarily invests in securities of U.S. issuers but may also invest in foreign securities. The portfolio manager looks for growth companies with stock prices that he believes are reasonable in relation to overall stock market valuations. In seeking broad diversification of the Fund&#8217;s portfolio among industries and market sectors, the portfolio manager focuses on a number of factors that may vary in particular cases and over time. Currently, the portfolio manager looks for: <ul type="square"><li>companies in business areas that have above-average growth potential</li></ul><ul type="square"><li>companies with growth rates that the portfolio manager believes are sustainable over time</li></ul><ul type="square"><li>stocks with reasonable valuations relative to their growth potential.</li></ul>The Fund may sell the stocks of companies that the portfolio manager believes no longer meet the above criteria, but is not required to do so. <b>Principal Risks.</b> The price of the Fund&#8217;s shares can go up and down substantially. The value of the Fund&#8217;s investments may change because of broad changes in the markets in which the Fund invests or because of poor investment selection, which could cause the Fund to underperform other funds with similar investment objectives. There is no assurance that the Fund will achieve its investment objective. When you redeem your shares, they may be worth less than what you paid for them. <i>These risks mean that you can lose money by investing in the Fund.</i> <br /><br /><b>Risks of Investing in Stocks.</b> The value of the Fund&#8217;s portfolio may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets. <br /><br />The prices of individual stocks generally do not all move in the same direction at the same time. A variety of factors can affect the price of a particular company's stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company's sector or industry, or changes in government regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap companies, growth or value stocks, or stocks of companies in a particular industry), fund share values may fluctuate more in response to events affecting the market for those types of securities.<br /><br /><b>Industry and Sector Focus.</b> At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of stocks of issuers in a particular industry or sector may go up and down in response to changes in economic conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than others. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its share values may fluctuate in response to events affecting that industry or sector. To some extent that risk may be limited by the Fund&#8217;s policy of not concentrating its investments in any one industry. <br /><br /><b>Risks of Growth Investing.</b> If a growth company&#8217;s earnings or stock price fails to increase as anticipated, or if its business plans do not produce the expected results, its securities may decline sharply. Growth companies may be newer or smaller companies that may experience greater stock price fluctuations and risks of loss than larger, more established companies. Newer growth companies tend to retain a large part of their earnings for research, development or investments in capital assets. Therefore, they may not pay any dividends for some time. Growth investing has gone in and out of favor during past market cycles and is likely to continue to do so. During periods when growth investing is out of favor or when markets are unstable, it may be more difficult to sell growth company securities at an acceptable price. Growth stocks may also be more volatile than other securities because of investor speculation. <br /><br /><b>Who Is the Fund Designed For?</b> The Fund is designed primarily for investors seeking capital appreciation over the long term. Those investors should be willing to assume the risks of short-term share price fluctuations that are typical for a fund focusing on stocks. Because of its focus on long-term growth, the Fund may be more appropriate for investors with longer term investment goals. The Fund is not designed for investors needing current income. The Fund is not a complete investment program. You should carefully consider your own investment goals and risk tolerance before investing in the Fund. <br /><br /><b>An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </b> <b>The Fund's Past Performance.</b> The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund&#8217;s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. The Fund&#8217;s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. More recent performance information is available by calling the toll-free number on the back of this prospectus and on the Fund&#8217;s website: <i>https://www.oppenheimerfunds.com/fund/CapitalAppreciationFund</i> Sales charges and taxes are not included and the returns would be lower if they were. During the period shown, the highest return for a calendar quarter was 18.94% (2nd Qtr 09) and the lowest return for a calendar quarter was -28.10% (4th Qtr 08). For the period from January 1, 2017 to September 30, 2017 the return before sales charges and taxes was 19.52%. The following table shows the average annual total returns for each class of the Fund's shares. After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary. <b>Average Annual Total Returns</b> for the periods ended December 31, 2016 You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. Expenses have been restated to reflect current fees. <i>These risks mean that you can lose money by investing in the Fund.</i> <b>An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. </b> The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund&#8217;s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund&#8217;s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. The Fund&#8217;s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. <i>https://www.oppenheimerfunds.com/fund/CapitalAppreciationFund</i> For the period from January 1, 2017 to September 30, 2017 2017-09-30 highest return 2009-06-30 lowest return 2008-12-31 After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary. 0.0575 0 0 0 0 0 0 0.05 0.01 0 0 0 0.0059 0.0059 0.0059 0.0059 0.0059 0.0059 0.0025 0.01 0.01 0.005 0 0 0.0023 0.0024 0.0023 0.0023 0.0023 0.0004 0.0107 0.0183 0.0182 0.0132 0.0082 0.0063 -0.0234 0.1376 -0.459 0.4358 0.0914 -0.0157 0.1369 0.2924 0.1507 0.0322 -0.0796 0.0994 0.0431 -0.0887 0.0799 0.0334 -0.0377 0.0774 0.0336 -0.077 0.101 0.0442 -0.04 0.104 0.0413 -0.0261 0.1096 0.0465 -0.0212 0.1157 0.0529 -0.0193 0.1174 0.1166 0.1196 0.1466 0.0695 0.1454 0.0708 0.145 0.0833 0.144 25000 0.63 <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleAnnualFundOperatingExpenses000013 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleAnnualTotalReturnsBarChart000016 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleAverageAnnualTotalReturnsTransposed000017 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleShareholderFees000012 column period compact * ~</div> 678 688 287 135 84 65 897 881 578 421 263 202 1134 1199 728 994 457 352 1812 1780 2156 1601 1018 789 <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleExpenseExampleTransposed000014 column period compact * ~</div> <div style="display:none">~ http://www.oppenheimerfunds.com/role/ScheduleExpenseExampleNoRedemptionTransposed000015 column period compact * ~</div> 678 188 187 135 84 65 897 581 578 421 263 202 1134 999 994 728 457 352 1812 1780 2156 1601 1018 789 0.1952 0.1894 -0.281 1981-01-22 1981-01-22 1981-01-22 1995-11-01 1993-12-01 2001-03-01 1997-11-03 2011-12-29 Expenses have been restated to reflect current fees. 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Risk/Return: rr_RiskReturnAbstract  
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OPPENHEIMER CAPITAL APPRECIATION FUND
The Fund Summary
Investment Objective.
The Fund seeks capital appreciation.
Fees and Expenses of the Fund.
This table describes the fees and expenses that you may pay if you buy and hold or redeem shares of the Fund. You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. More information about these and other discounts and sales charge waivers is available from your financial professional and in the section “About Your Account” beginning on page 11 of the prospectus, in the appendix to the prospectus titled “Special Sales Charge Arrangements and Waivers” and in the section “How to Buy Shares” beginning on page 48 in the Fund’s Statement of Additional Information.
Shareholder Fees
(fees paid directly from your investment)
Shareholder Fees - OPPENHEIMER CAPITAL APPRECIATION FUND
Class A
Class B
Class C
Class R
Class Y
Class I
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) 5.75% none none none none none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) none 5.00% 1.00% none none none
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Annual Fund Operating Expenses - OPPENHEIMER CAPITAL APPRECIATION FUND
Class A
Class B
Class C
Class R
Class Y
Class I
Management Fees [1] 0.59% 0.59% 0.59% 0.59% 0.59% 0.59%
Distribution and/or Service (12b-1) Fees [1] 0.25% 1.00% 1.00% 0.50% none none
Other Expenses [1] 0.23% 0.24% 0.23% 0.23% 0.23% 0.04%
Total Annual Fund Operating Expenses [1] 1.07% 1.83% 1.82% 1.32% 0.82% 0.63%
[1] Expenses have been restated to reflect current fees.
Example.
The following Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in a class of shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Any applicable fee waivers and/or expense reimbursements would be reflected in the below examples for the first year only. Although your actual costs may be higher or lower, based on these assumptions your expenses would be as follows:
If shares are redeemed
Expense Example - OPPENHEIMER CAPITAL APPRECIATION FUND - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 678 897 1,134 1,812
Class B 688 881 1,199 1,780
Class C 287 578 994 2,156
Class R 135 421 728 1,601
Class Y 84 263 457 1,018
Class I 65 202 352 789
If shares are not redeemed
Expense Example, No Redemption - OPPENHEIMER CAPITAL APPRECIATION FUND - USD ($)
1 Year
3 Years
5 Years
10 Years
Class A 678 897 1,134 1,812
Class B 188 581 999 1,780
Class C 187 578 994 2,156
Class R 135 421 728 1,601
Class Y 84 263 457 1,018
Class I 65 202 352 789
Portfolio Turnover.
The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 63% of the average value of its portfolio.
Principal Investment Strategies.
The Fund mainly invests in common stocks of “growth companies.” Growth companies are companies whose earnings and stock prices are expected to increase at a faster rate than the overall market. These may be newer companies or established companies of any capitalization range that the portfolio manager believes may appreciate in value over the long term. Currently, the Fund primarily focuses on established companies that are similar in size to companies in the S&P 500 Index or the Russell 1000 Growth Index. The Fund primarily invests in securities of U.S. issuers but may also invest in foreign securities. The portfolio manager looks for growth companies with stock prices that he believes are reasonable in relation to overall stock market valuations. In seeking broad diversification of the Fund’s portfolio among industries and market sectors, the portfolio manager focuses on a number of factors that may vary in particular cases and over time. Currently, the portfolio manager looks for:
  • companies in business areas that have above-average growth potential
  • companies with growth rates that the portfolio manager believes are sustainable over time
  • stocks with reasonable valuations relative to their growth potential.
The Fund may sell the stocks of companies that the portfolio manager believes no longer meet the above criteria, but is not required to do so.
Principal Risks.
The price of the Fund’s shares can go up and down substantially. The value of the Fund’s investments may change because of broad changes in the markets in which the Fund invests or because of poor investment selection, which could cause the Fund to underperform other funds with similar investment objectives. There is no assurance that the Fund will achieve its investment objective. When you redeem your shares, they may be worth less than what you paid for them. These risks mean that you can lose money by investing in the Fund.

Risks of Investing in Stocks. The value of the Fund’s portfolio may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.

The prices of individual stocks generally do not all move in the same direction at the same time. A variety of factors can affect the price of a particular company's stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company's sector or industry, or changes in government regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap companies, growth or value stocks, or stocks of companies in a particular industry), fund share values may fluctuate more in response to events affecting the market for those types of securities.

Industry and Sector Focus. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of stocks of issuers in a particular industry or sector may go up and down in response to changes in economic conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than others. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its share values may fluctuate in response to events affecting that industry or sector. To some extent that risk may be limited by the Fund’s policy of not concentrating its investments in any one industry.

Risks of Growth Investing. If a growth company’s earnings or stock price fails to increase as anticipated, or if its business plans do not produce the expected results, its securities may decline sharply. Growth companies may be newer or smaller companies that may experience greater stock price fluctuations and risks of loss than larger, more established companies. Newer growth companies tend to retain a large part of their earnings for research, development or investments in capital assets. Therefore, they may not pay any dividends for some time. Growth investing has gone in and out of favor during past market cycles and is likely to continue to do so. During periods when growth investing is out of favor or when markets are unstable, it may be more difficult to sell growth company securities at an acceptable price. Growth stocks may also be more volatile than other securities because of investor speculation.

Who Is the Fund Designed For? The Fund is designed primarily for investors seeking capital appreciation over the long term. Those investors should be willing to assume the risks of short-term share price fluctuations that are typical for a fund focusing on stocks. Because of its focus on long-term growth, the Fund may be more appropriate for investors with longer term investment goals. The Fund is not designed for investors needing current income. The Fund is not a complete investment program. You should carefully consider your own investment goals and risk tolerance before investing in the Fund.

An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
The Fund's Past Performance.
The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund’s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. The Fund’s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. More recent performance information is available by calling the toll-free number on the back of this prospectus and on the Fund’s website: https://www.oppenheimerfunds.com/fund/CapitalAppreciationFund
Bar Chart
Sales charges and taxes are not included and the returns would be lower if they were. During the period shown, the highest return for a calendar quarter was 18.94% (2nd Qtr 09) and the lowest return for a calendar quarter was -28.10% (4th Qtr 08). For the period from January 1, 2017 to September 30, 2017 the return before sales charges and taxes was 19.52%.
The following table shows the average annual total returns for each class of the Fund's shares. After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary.
Average Annual Total Returns for the periods ended December 31, 2016
Average Annual Total Returns - OPPENHEIMER CAPITAL APPRECIATION FUND
1 Year
5 Years
10 Years
(or life of class, if less)
Inception Date
Class A Shares (7.96%) 9.94% 4.31%   Jan. 22, 1981
Class A Shares | Return After Taxes on Distributions (8.87%) 7.99% 3.34%   Jan. 22, 1981
Class A Shares | Return After Taxes on Distributions and Sale of Fund Shares (3.77%) 7.74% 3.36%   Jan. 22, 1981
Class B Shares (7.70%) 10.10% 4.42%   Nov. 01, 1995
Class C Shares (4.00%) 10.40% 4.13%   Dec. 01, 1993
Class R Shares (2.61%) 10.96% 4.65%   Mar. 01, 2001
Class Y Shares (2.12%) 11.57% 5.29%   Nov. 03, 1997
Class I Shares (1.93%) 11.74%   11.66% Dec. 29, 2011
S&P 500 Index (reflects no deduction for fees, expenses, or taxes) 11.96% 14.66% 6.95% 14.54% [1]  
Russell 1000 Growth Index (reflects no deduction for fees, expenses, or taxes) 7.08% 14.50% 8.33% 14.40% [1]  
[1] From 12/29/11
XML 12 R9.htm IDEA: XBRL DOCUMENT v3.8.0.1
Label Element Value
Risk/Return: rr_RiskReturnAbstract  
Registrant Name dei_EntityRegistrantName OPPENHEIMER CAPITAL APPRECIATION FUND
Prospectus Date rr_ProspectusDate Oct. 27, 2017
OPPENHEIMER CAPITAL APPRECIATION FUND  
Risk/Return: rr_RiskReturnAbstract  
Risk/Return [Heading] rr_RiskReturnHeading The Fund Summary
Objective [Heading] rr_ObjectiveHeading Investment Objective.
Objective, Primary [Text Block] rr_ObjectivePrimaryTextBlock The Fund seeks capital appreciation.
Expense [Heading] rr_ExpenseHeading Fees and Expenses of the Fund.
Expense Narrative [Text Block] rr_ExpenseNarrativeTextBlock This table describes the fees and expenses that you may pay if you buy and hold or redeem shares of the Fund. You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds. More information about these and other discounts and sales charge waivers is available from your financial professional and in the section “About Your Account” beginning on page 11 of the prospectus, in the appendix to the prospectus titled “Special Sales Charge Arrangements and Waivers” and in the section “How to Buy Shares” beginning on page 48 in the Fund’s Statement of Additional Information.
Shareholder Fees Caption [Text] rr_ShareholderFeesCaption Shareholder Fees
(fees paid directly from your investment)
Operating Expenses Caption [Text] rr_OperatingExpensesCaption Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
Portfolio Turnover [Heading] rr_PortfolioTurnoverHeading Portfolio Turnover.
Portfolio Turnover [Text Block] rr_PortfolioTurnoverTextBlock The Fund pays transaction costs, such as commissions, when it buys and sells securities (or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in the annual fund operating expenses or in the Example, affect the Fund’s performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 63% of the average value of its portfolio.
Portfolio Turnover, Rate rr_PortfolioTurnoverRate 63.00%
Expense Breakpoint Discounts [Text] rr_ExpenseBreakpointDiscounts You may qualify for sales charge discounts if you (or you and your spouse) invest, or agree to invest in the future, at least $25,000 in certain funds in the Oppenheimer family of funds.
Expense Breakpoint, Minimum Investment Required [Amount] rr_ExpenseBreakpointMinimumInvestmentRequiredAmount $ 25,000
Expenses Restated to Reflect Current [Text] rr_ExpensesRestatedToReflectCurrent Expenses have been restated to reflect current fees.
Expense Example [Heading] rr_ExpenseExampleHeading Example.
Expense Example Narrative [Text Block] rr_ExpenseExampleNarrativeTextBlock The following Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in a class of shares of the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Any applicable fee waivers and/or expense reimbursements would be reflected in the below examples for the first year only. Although your actual costs may be higher or lower, based on these assumptions your expenses would be as follows:
Expense Example by, Year, Caption [Text] rr_ExpenseExampleByYearCaption If shares are redeemed
Expense Example, No Redemption, By Year, Caption [Text] rr_ExpenseExampleNoRedemptionByYearCaption If shares are not redeemed
Strategy [Heading] rr_StrategyHeading Principal Investment Strategies.
Strategy Narrative [Text Block] rr_StrategyNarrativeTextBlock The Fund mainly invests in common stocks of “growth companies.” Growth companies are companies whose earnings and stock prices are expected to increase at a faster rate than the overall market. These may be newer companies or established companies of any capitalization range that the portfolio manager believes may appreciate in value over the long term. Currently, the Fund primarily focuses on established companies that are similar in size to companies in the S&P 500 Index or the Russell 1000 Growth Index. The Fund primarily invests in securities of U.S. issuers but may also invest in foreign securities. The portfolio manager looks for growth companies with stock prices that he believes are reasonable in relation to overall stock market valuations. In seeking broad diversification of the Fund’s portfolio among industries and market sectors, the portfolio manager focuses on a number of factors that may vary in particular cases and over time. Currently, the portfolio manager looks for:
  • companies in business areas that have above-average growth potential
  • companies with growth rates that the portfolio manager believes are sustainable over time
  • stocks with reasonable valuations relative to their growth potential.
The Fund may sell the stocks of companies that the portfolio manager believes no longer meet the above criteria, but is not required to do so.
Risk [Heading] rr_RiskHeading Principal Risks.
Risk Narrative [Text Block] rr_RiskNarrativeTextBlock The price of the Fund’s shares can go up and down substantially. The value of the Fund’s investments may change because of broad changes in the markets in which the Fund invests or because of poor investment selection, which could cause the Fund to underperform other funds with similar investment objectives. There is no assurance that the Fund will achieve its investment objective. When you redeem your shares, they may be worth less than what you paid for them. These risks mean that you can lose money by investing in the Fund.

Risks of Investing in Stocks. The value of the Fund’s portfolio may be affected by changes in the stock markets. Stock markets may experience significant short-term volatility and may fall sharply at times. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments. Different stock markets may behave differently from each other and U.S. stock markets may move in the opposite direction from one or more foreign stock markets.

The prices of individual stocks generally do not all move in the same direction at the same time. A variety of factors can affect the price of a particular company's stock. These factors may include, but are not limited to: poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the company's sector or industry, or changes in government regulations affecting the company or its industry. To the extent that securities of a particular type are emphasized (for example foreign stocks, stocks of small- or mid-cap companies, growth or value stocks, or stocks of companies in a particular industry), fund share values may fluctuate more in response to events affecting the market for those types of securities.

Industry and Sector Focus. At times the Fund may increase the relative emphasis of its investments in a particular industry or sector. The prices of stocks of issuers in a particular industry or sector may go up and down in response to changes in economic conditions, government regulations, availability of basic resources or supplies, or other events that affect that industry or sector more than others. To the extent that the Fund increases the relative emphasis of its investments in a particular industry or sector, its share values may fluctuate in response to events affecting that industry or sector. To some extent that risk may be limited by the Fund’s policy of not concentrating its investments in any one industry.

Risks of Growth Investing. If a growth company’s earnings or stock price fails to increase as anticipated, or if its business plans do not produce the expected results, its securities may decline sharply. Growth companies may be newer or smaller companies that may experience greater stock price fluctuations and risks of loss than larger, more established companies. Newer growth companies tend to retain a large part of their earnings for research, development or investments in capital assets. Therefore, they may not pay any dividends for some time. Growth investing has gone in and out of favor during past market cycles and is likely to continue to do so. During periods when growth investing is out of favor or when markets are unstable, it may be more difficult to sell growth company securities at an acceptable price. Growth stocks may also be more volatile than other securities because of investor speculation.

Who Is the Fund Designed For? The Fund is designed primarily for investors seeking capital appreciation over the long term. Those investors should be willing to assume the risks of short-term share price fluctuations that are typical for a fund focusing on stocks. Because of its focus on long-term growth, the Fund may be more appropriate for investors with longer term investment goals. The Fund is not designed for investors needing current income. The Fund is not a complete investment program. You should carefully consider your own investment goals and risk tolerance before investing in the Fund.

An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Risk Lose Money [Text] rr_RiskLoseMoney These risks mean that you can lose money by investing in the Fund.
Risk Not Insured Depository Institution [Text] rr_RiskNotInsuredDepositoryInstitution An investment in the Fund is not a deposit of any bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency.
Bar Chart and Performance Table [Heading] rr_BarChartAndPerformanceTableHeading The Fund's Past Performance.
Performance Narrative [Text Block] rr_PerformanceNarrativeTextBlock The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund’s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance. The Fund’s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown. More recent performance information is available by calling the toll-free number on the back of this prospectus and on the Fund’s website: https://www.oppenheimerfunds.com/fund/CapitalAppreciationFund
Performance Information Illustrates Variability of Returns [Text] rr_PerformanceInformationIllustratesVariabilityOfReturns The bar chart and table below provide some indication of the risks of investing in the Fund by showing changes in the Fund’s performance (for Class A Shares) from calendar year to calendar year and by showing how the Fund’s average annual returns for the periods of time shown in the table compare with those of a broad measure of market performance.
Performance Availability Website Address [Text] rr_PerformanceAvailabilityWebSiteAddress https://www.oppenheimerfunds.com/fund/CapitalAppreciationFund
Performance Past Does Not Indicate Future [Text] rr_PerformancePastDoesNotIndicateFuture The Fund’s past investment performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future.
Bar Chart Does Not Reflect Sales Loads [Text] rr_BarChartDoesNotReflectSalesLoads Sales charges and taxes are not reflected in the bar chart and if those charges were included, returns would be less than those shown.
Bar Chart Closing [Text Block] rr_BarChartClosingTextBlock Sales charges and taxes are not included and the returns would be lower if they were. During the period shown, the highest return for a calendar quarter was 18.94% (2nd Qtr 09) and the lowest return for a calendar quarter was -28.10% (4th Qtr 08). For the period from January 1, 2017 to September 30, 2017 the return before sales charges and taxes was 19.52%.
Performance Table Heading rr_PerformanceTableHeading Average Annual Total Returns for the periods ended December 31, 2016
Performance Table Uses Highest Federal Rate rr_PerformanceTableUsesHighestFederalRate After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes.
Performance Table Not Relevant to Tax Deferred rr_PerformanceTableNotRelevantToTaxDeferred Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts.
Performance Table One Class of after Tax Shown [Text] rr_PerformanceTableOneClassOfAfterTaxShown After-tax returns are shown for only one class and after-tax returns for other classes will vary.
Performance Table Narrative rr_PerformanceTableNarrativeTextBlock The following table shows the average annual total returns for each class of the Fund's shares. After-tax returns are calculated using the highest individual federal marginal income tax rates and do not reflect the impact of state or local taxes. Your actual after-tax returns, depending on your individual tax situation, may differ from those shown and after-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class and after-tax returns for other classes will vary.
OPPENHEIMER CAPITAL APPRECIATION FUND | Class A  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice 5.75%
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.59% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.25% [1]
Other Expenses rr_OtherExpensesOverAssets 0.23% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.07% [1]
1 Year rr_ExpenseExampleYear01 $ 678
3 Years rr_ExpenseExampleYear03 897
5 Years rr_ExpenseExampleYear05 1,134
10 Years rr_ExpenseExampleYear10 1,812
1 Year rr_ExpenseExampleNoRedemptionYear01 678
3 Years rr_ExpenseExampleNoRedemptionYear03 897
5 Years rr_ExpenseExampleNoRedemptionYear05 1,134
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,812
2007 rr_AnnualReturn2007 13.76%
2008 rr_AnnualReturn2008 (45.90%)
2009 rr_AnnualReturn2009 43.58%
2010 rr_AnnualReturn2010 9.14%
2011 rr_AnnualReturn2011 (1.57%)
2012 rr_AnnualReturn2012 13.69%
2013 rr_AnnualReturn2013 29.24%
2014 rr_AnnualReturn2014 15.07%
2015 rr_AnnualReturn2015 3.22%
2016 rr_AnnualReturn2016 (2.34%)
Year to Date Return, Label rr_YearToDateReturnLabel For the period from January 1, 2017 to September 30, 2017
Bar Chart, Year to Date Return, Date rr_BarChartYearToDateReturnDate Sep. 30, 2017
Bar Chart, Year to Date Return rr_BarChartYearToDateReturn 19.52%
Highest Quarterly Return, Label rr_HighestQuarterlyReturnLabel highest return
Highest Quarterly Return, Date rr_BarChartHighestQuarterlyReturnDate Jun. 30, 2009
Highest Quarterly Return rr_BarChartHighestQuarterlyReturn 18.94%
Lowest Quarterly Return, Label rr_LowestQuarterlyReturnLabel lowest return
Lowest Quarterly Return, Date rr_BarChartLowestQuarterlyReturnDate Dec. 31, 2008
Lowest Quarterly Return rr_BarChartLowestQuarterlyReturn (28.10%)
1 Year rr_AverageAnnualReturnYear01 (7.96%)
5 Years rr_AverageAnnualReturnYear05 9.94%
10 Years rr_AverageAnnualReturnYear10 4.31%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 22, 1981
OPPENHEIMER CAPITAL APPRECIATION FUND | Class B  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 5.00%
Management Fees rr_ManagementFeesOverAssets 0.59% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00% [1]
Other Expenses rr_OtherExpensesOverAssets 0.24% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.83% [1]
1 Year rr_ExpenseExampleYear01 $ 688
3 Years rr_ExpenseExampleYear03 881
5 Years rr_ExpenseExampleYear05 1,199
10 Years rr_ExpenseExampleYear10 1,780
1 Year rr_ExpenseExampleNoRedemptionYear01 188
3 Years rr_ExpenseExampleNoRedemptionYear03 581
5 Years rr_ExpenseExampleNoRedemptionYear05 999
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,780
1 Year rr_AverageAnnualReturnYear01 (7.70%)
5 Years rr_AverageAnnualReturnYear05 10.10%
10 Years rr_AverageAnnualReturnYear10 4.42%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 01, 1995
OPPENHEIMER CAPITAL APPRECIATION FUND | Class C  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther 1.00%
Management Fees rr_ManagementFeesOverAssets 0.59% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 1.00% [1]
Other Expenses rr_OtherExpensesOverAssets 0.23% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.82% [1]
1 Year rr_ExpenseExampleYear01 $ 287
3 Years rr_ExpenseExampleYear03 578
5 Years rr_ExpenseExampleYear05 994
10 Years rr_ExpenseExampleYear10 2,156
1 Year rr_ExpenseExampleNoRedemptionYear01 187
3 Years rr_ExpenseExampleNoRedemptionYear03 578
5 Years rr_ExpenseExampleNoRedemptionYear05 994
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 2,156
1 Year rr_AverageAnnualReturnYear01 (4.00%)
5 Years rr_AverageAnnualReturnYear05 10.40%
10 Years rr_AverageAnnualReturnYear10 4.13%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 01, 1993
OPPENHEIMER CAPITAL APPRECIATION FUND | Class R  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.59% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets 0.50% [1]
Other Expenses rr_OtherExpensesOverAssets 0.23% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 1.32% [1]
1 Year rr_ExpenseExampleYear01 $ 135
3 Years rr_ExpenseExampleYear03 421
5 Years rr_ExpenseExampleYear05 728
10 Years rr_ExpenseExampleYear10 1,601
1 Year rr_ExpenseExampleNoRedemptionYear01 135
3 Years rr_ExpenseExampleNoRedemptionYear03 421
5 Years rr_ExpenseExampleNoRedemptionYear05 728
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,601
1 Year rr_AverageAnnualReturnYear01 (2.61%)
5 Years rr_AverageAnnualReturnYear05 10.96%
10 Years rr_AverageAnnualReturnYear10 4.65%
Inception Date rr_AverageAnnualReturnInceptionDate Mar. 01, 2001
OPPENHEIMER CAPITAL APPRECIATION FUND | Class Y  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.59% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.23% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.82% [1]
1 Year rr_ExpenseExampleYear01 $ 84
3 Years rr_ExpenseExampleYear03 263
5 Years rr_ExpenseExampleYear05 457
10 Years rr_ExpenseExampleYear10 1,018
1 Year rr_ExpenseExampleNoRedemptionYear01 84
3 Years rr_ExpenseExampleNoRedemptionYear03 263
5 Years rr_ExpenseExampleNoRedemptionYear05 457
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 1,018
1 Year rr_AverageAnnualReturnYear01 (2.12%)
5 Years rr_AverageAnnualReturnYear05 11.57%
10 Years rr_AverageAnnualReturnYear10 5.29%
Inception Date rr_AverageAnnualReturnInceptionDate Nov. 03, 1997
OPPENHEIMER CAPITAL APPRECIATION FUND | Class I  
Risk/Return: rr_RiskReturnAbstract  
Maximum Sales Charge (Load) imposed on purchases (as % of offering price) rr_MaximumSalesChargeImposedOnPurchasesOverOfferingPrice none
Maximum Deferred Sales Charge (Load) (as % of the lower of original offering price or redemption proceeds) rr_MaximumDeferredSalesChargeOverOther none
Management Fees rr_ManagementFeesOverAssets 0.59% [1]
Distribution and/or Service (12b-1) Fees rr_DistributionAndService12b1FeesOverAssets none [1]
Other Expenses rr_OtherExpensesOverAssets 0.04% [1]
Total Annual Fund Operating Expenses rr_ExpensesOverAssets 0.63% [1]
1 Year rr_ExpenseExampleYear01 $ 65
3 Years rr_ExpenseExampleYear03 202
5 Years rr_ExpenseExampleYear05 352
10 Years rr_ExpenseExampleYear10 789
1 Year rr_ExpenseExampleNoRedemptionYear01 65
3 Years rr_ExpenseExampleNoRedemptionYear03 202
5 Years rr_ExpenseExampleNoRedemptionYear05 352
10 Years rr_ExpenseExampleNoRedemptionYear10 $ 789
1 Year rr_AverageAnnualReturnYear01 (1.93%)
5 Years rr_AverageAnnualReturnYear05 11.74%
(or life of class, if less) rr_AverageAnnualReturnSinceInception 11.66%
Inception Date rr_AverageAnnualReturnInceptionDate Dec. 29, 2011
OPPENHEIMER CAPITAL APPRECIATION FUND | Return After Taxes on Distributions | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (8.87%)
5 Years rr_AverageAnnualReturnYear05 7.99%
10 Years rr_AverageAnnualReturnYear10 3.34%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 22, 1981
OPPENHEIMER CAPITAL APPRECIATION FUND | Return After Taxes on Distributions and Sale of Fund Shares | Class A  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 (3.77%)
5 Years rr_AverageAnnualReturnYear05 7.74%
10 Years rr_AverageAnnualReturnYear10 3.36%
Inception Date rr_AverageAnnualReturnInceptionDate Jan. 22, 1981
OPPENHEIMER CAPITAL APPRECIATION FUND | S&P 500 Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 11.96%
5 Years rr_AverageAnnualReturnYear05 14.66%
10 Years rr_AverageAnnualReturnYear10 6.95%
(or life of class, if less) rr_AverageAnnualReturnSinceInception 14.54% [2]
OPPENHEIMER CAPITAL APPRECIATION FUND | Russell 1000 Growth Index (reflects no deduction for fees, expenses, or taxes)  
Risk/Return: rr_RiskReturnAbstract  
1 Year rr_AverageAnnualReturnYear01 7.08%
5 Years rr_AverageAnnualReturnYear05 14.50%
10 Years rr_AverageAnnualReturnYear10 8.33%
(or life of class, if less) rr_AverageAnnualReturnSinceInception 14.40% [2]
[1] Expenses have been restated to reflect current fees.
[2] From 12/29/11
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Prospectus Date rr_ProspectusDate Oct. 27, 2017
Document Creation Date dei_DocumentCreationDate Oct. 26, 2017
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