-----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, Pi/1Mu801W0y6Un2ahKzbKtkjok0XL8V084jRLzn4kBEW1FJzCoES9LP9+9NdYxG R6AjlD2wz+jn7UAaxS6LLw== 0000935069-05-000803.txt : 20050401 0000935069-05-000803.hdr.sgml : 20050401 20050401153226 ACCESSION NUMBER: 0000935069-05-000803 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050131 FILED AS OF DATE: 20050401 DATE AS OF CHANGE: 20050401 EFFECTIVENESS DATE: 20050401 FILER: COMPANY DATA: COMPANY CONFORMED NAME: OPPENHEIMER SERIES FUND INC CENTRAL INDEX KEY: 0000356865 IRS NUMBER: 061207374 STATE OF INCORPORATION: MD FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-03346 FILM NUMBER: 05725242 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: CONNECTICUT MUTUAL INVESTMENT ACCOUNTS INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: CONNECTICUT MUTUAL LIQUID ACCOUNT INC DATE OF NAME CHANGE: 19851106 N-Q 1 rq205_15136nq.txt RQ205_15136NQ.TXT 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 811-3346 Oppenheimer Disciplined Allocation 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: OCTOBER 31 ---------- Date of reporting period: JANUARY 31, 2005 ---------------- ITEM 1. SCHEDULE OF INVESTMENTS. STATEMENT OF INVESTMENTS January 31, 2005/Unaudited -------------------------------------------------------------------------------
Shares Value ---------------------------------------------------------------------------------------------------------- COMMON STOCKS--52.8% ---------------------------------------------------------------------------------------------------------- CONSUMER DISCRETIONARY--7.6% ---------------------------------------------------------------------------------------------------------- HOTELS, RESTAURANTS & LEISURE--0.9% McDonald's Corp. 33,900 $ 1,098,021 ---------------------------------------------------------------------------------------------------------- HOUSEHOLD DURABLES--0.4% WCI Communities, Inc. 1 16,600 528,876 ---------------------------------------------------------------------------------------------------------- INTERNET & CATALOG RETAIL--0.9% IAC/InterActiveCorp 1 49,000 1,187,270 ---------------------------------------------------------------------------------------------------------- LEISURE EQUIPMENT & PRODUCTS--0.1% Leapfrog Enterprises, Inc. 1 10,400 137,800 ---------------------------------------------------------------------------------------------------------- MEDIA--5.3% Liberty Media Corp., Cl. A 1 257,900 2,692,476 ---------------------------------------------------------------------------------------------------------- Liberty Media International, Inc., Cl. A 1 13,938 631,113 ---------------------------------------------------------------------------------------------------------- UnitedGlobalCom, Inc., Cl. A 1 369,850 3,613,435 ------------------ 6,937,024 CONSUMER STAPLES--3.6% ---------------------------------------------------------------------------------------------------------- BEVERAGES--0.7% Constellation Brands, Inc., Cl. A 1 17,200 893,024 ---------------------------------------------------------------------------------------------------------- FOOD & STAPLES RETAILING--0.7% Wal-Mart Stores, Inc. 18,600 974,640 ---------------------------------------------------------------------------------------------------------- TOBACCO--2.2% Altria Group, Inc. 44,600 2,846,818 ENERGY--3.9% ---------------------------------------------------------------------------------------------------------- ENERGY EQUIPMENT & SERVICES--0.6% Halliburton Co. 20,400 839,052 ---------------------------------------------------------------------------------------------------------- OIL & GAS--3.3% BP plc, ADR 39,800 2,372,876 ---------------------------------------------------------------------------------------------------------- Kinder Morgan, Inc. 7,700 577,808 ---------------------------------------------------------------------------------------------------------- LUKOIL, Sponsored ADR 10,400 1,289,600 ------------------ 4,240,284 FINANCIALS--11.2% ---------------------------------------------------------------------------------------------------------- COMMERCIAL BANKS--2.9% Bank of America Corp. 43,202 2,003,277 ---------------------------------------------------------------------------------------------------------- Wachovia Corp. 17,088 937,277 ---------------------------------------------------------------------------------------------------------- Wells Fargo & Co. 12,800 784,640 ------------------ 3,725,194 ---------------------------------------------------------------------------------------------------------- DIVERSIFIED FINANCIAL SERVICES--3.8% Citigroup, Inc. 45,277 2,220,837 ---------------------------------------------------------------------------------------------------------- JPMorgan Chase & Co. 19,500 727,935 ---------------------------------------------------------------------------------------------------------- Lehman Brothers Holdings, Inc. 15,900 1,449,921 ---------------------------------------------------------------------------------------------------------- Morgan Stanley 10,400 581,984 ------------------ 4,980,677 ---------------------------------------------------------------------------------------------------------- INSURANCE--3.4% Aspen Insurance Holdings Ltd. 14,500 374,245 ---------------------------------------------------------------------------------------------------------- Assured Guaranty Ltd. 40,500 712,800 ---------------------------------------------------------------------------------------------------------- Genworth Financial, Inc., Cl. A 59,400 1,575,882 ---------------------------------------------------------------------------------------------------------- Phoenix Cos., Inc. (The) 27,100 354,197 ---------------------------------------------------------------------------------------------------------- Prudential Financial, Inc. 24,400 1,315,404 ------------------ 4,332,528 1 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- Shares Value ---------------------------------------------------------------------------------------------------------- FINANCIALS CONTINUED ---------------------------------------------------------------------------------------------------------- THRIFTS & MORTGAGE FINANCE--1.1% Countrywide Financial Corp. 18,300 $ 677,100 ---------------------------------------------------------------------------------------------------------- Freddie Mac 11,700 763,893 ------------------ 1,440,993 HEALTH CARE--5.6% ---------------------------------------------------------------------------------------------------------- BIOTECHNOLOGY--1.8% MedImmune, Inc. 1 38,300 905,987 ---------------------------------------------------------------------------------------------------------- Wyeth 36,100 1,430,643 ------------------ 2,336,630 ---------------------------------------------------------------------------------------------------------- HEALTH CARE EQUIPMENT & SUPPLIES--0.6% Boston Scientific Corp. 1 22,600 747,156 ---------------------------------------------------------------------------------------------------------- HEALTH CARE PROVIDERS & SERVICES--0.9% Manor Care, Inc. 10,600 366,230 ---------------------------------------------------------------------------------------------------------- Tenet Healthcare Corp. 1 77,600 770,568 ------------------ 1,136,798 ---------------------------------------------------------------------------------------------------------- PHARMACEUTICALS--2.3% Pfizer, Inc. 45,900 1,108,944 ---------------------------------------------------------------------------------------------------------- Schering-Plough Corp. 44,800 831,488 ---------------------------------------------------------------------------------------------------------- Watson Pharmaceuticals, Inc. 1 38,000 1,133,540 ------------------ 3,073,972 INDUSTRIALS--8.4% ---------------------------------------------------------------------------------------------------------- AEROSPACE & DEFENSE--4.1% Honeywell International, Inc. 39,200 1,410,416 ---------------------------------------------------------------------------------------------------------- Orbital Sciences Corp. 1 131,300 1,334,008 ---------------------------------------------------------------------------------------------------------- Raytheon Co. 69,200 2,588,080 ------------------ 5,332,504 ---------------------------------------------------------------------------------------------------------- COMMERCIAL SERVICES & SUPPLIES--2.2% Cendant Corp. 124,300 2,927,265 ---------------------------------------------------------------------------------------------------------- INDUSTRIAL CONGLOMERATES--2.1% General Electric Co. 24,500 885,185 ---------------------------------------------------------------------------------------------------------- Tyco International Ltd. 49,600 1,792,544 ------------------ 2,677,729 INFORMATION TECHNOLOGY--8.7% ---------------------------------------------------------------------------------------------------------- COMMUNICATIONS EQUIPMENT--0.0% Geotek Communications, Inc., Series B, Escrow Shares 1,2,3 100 -- ---------------------------------------------------------------------------------------------------------- COMPUTERS & PERIPHERALS--1.4% Dell, Inc. 1 23,500 981,360 ---------------------------------------------------------------------------------------------------------- Hewlett-Packard Co. 43,100 844,329 ------------------ 1,825,689 ---------------------------------------------------------------------------------------------------------- ELECTRONIC EQUIPMENT & INSTRUMENTS--0.5% Flextronics International Ltd. 1 44,700 632,505 ---------------------------------------------------------------------------------------------------------- INTERNET SOFTWARE & SERVICES--0.2% Net2Phone, Inc. 1 118,500 295,065 ---------------------------------------------------------------------------------------------------------- IT SERVICES--0.4% CSG Systems International, Inc. 1 27,900 505,548 2 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- Value Shares See Note 1 ---------------------------------------------------------------------------------------------------------- INFORMATION TECHNOLOGY CONTINUED ---------------------------------------------------------------------------------------------------------- SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT--1.2% Freescale Semiconductor, Inc., Cl. A 1 62,500 $ 1,068,750 ---------------------------------------------------------------------------------------------------------- Intel Corp. 19,300 433,285 ------------------ 1,502,035 ---------------------------------------------------------------------------------------------------------- SOFTWARE--5.0% Compuware Corp. 1 60,800 419,520 ---------------------------------------------------------------------------------------------------------- Microsoft Corp. 63,300 1,663,524 ---------------------------------------------------------------------------------------------------------- Novell, Inc. 1 57,200 330,044 ---------------------------------------------------------------------------------------------------------- Oracle Corp. 1 47,100 648,567 ---------------------------------------------------------------------------------------------------------- Synopsys, Inc. 1 19,200 326,400 ---------------------------------------------------------------------------------------------------------- Take-Two Interactive Software, Inc. 1 87,700 3,091,425 ------------------ 6,479,480 MATERIALS--1.0% ---------------------------------------------------------------------------------------------------------- CHEMICALS--0.5% Praxair, Inc. 14,300 617,045 ---------------------------------------------------------------------------------------------------------- METALS & MINING--0.3% GrafTech International Ltd. 1 41,100 334,554 ---------------------------------------------------------------------------------------------------------- PAPER & FOREST PRODUCTS--0.2% Bowater, Inc. 8,100 307,800 TELECOMMUNICATION SERVICES--1.6% ---------------------------------------------------------------------------------------------------------- DIVERSIFIED TELECOMMUNICATION SERVICES--1.6% IDT Corp., Cl. B 1 141,400 2,070,096 UTILITIES--1.2% ---------------------------------------------------------------------------------------------------------- ELECTRIC UTILITIES--1.2% AES Corp. (The) 1 115,200 1,618,560 ------------------ Total Common Stocks (Cost $57,358,983) 68,582,632 Principal Amount ---------------------------------------------------------------------------------------------------------- ASSET-BACKED SECURITIES--6.3% ---------------------------------------------------------------------------------------------------------- Bank One Auto Securitization Trust, Automobile Receivable Certificates, Series 2003-1, Cl. A2, 1.29%, 8/21/06 $ 65,658 65,548 ---------------------------------------------------------------------------------------------------------- BMW Vehicle Owner Trust, Automobile Loan Certificates, Series 2004-A, Cl. A2, 1.88%, 10/25/06 214,173 213,411 ---------------------------------------------------------------------------------------------------------- Capital Auto Receivables Asset Trust, Automobile Mtg.-Backed Nts., Series 2004-2, Cl. A3, 3.58%, 1/15/09 270,000 269,156 ---------------------------------------------------------------------------------------------------------- Centex Home Equity Co. LLC, Home Equity Loan Asset-Backed Certificates: Series 2003-C, Cl. AF1, 2.14%, 7/25/18 8,467 8,457 Series 2004-A, Cl. AF1, 2.03%, 6/25/19 43,167 43,092 Series 2004-D, Cl. AF1, 2.98%, 4/25/20 2 112,888 112,442 ---------------------------------------------------------------------------------------------------------- Chase Funding Mortgage Loan Asset-Backed Certificates, Home Equity Mtg. Obligations: Series 2002-4, Cl. 1A3, 3.44%, 4/25/23 27,172 27,154 Series 2003-1, Cl. 1A3, 3.14%, 7/25/23 83,889 83,799 Series 2003-4, Cl. 1A2, 2.138%, 7/25/18 94,965 94,669 Series 2004-1, Cl. 2A1, 2.64%, 9/25/21 4 133,423 133,501 3 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- Chase Manhattan Auto Owner Trust, Automobile Loan Pass-Through Certificates: Series 2002-A, Cl. A4, 4.24%, 9/15/08 $ 47,406 $ 47,640 Series 2003-B, Cl. A2, 1.28%, 3/15/06 10,720 10,718 ---------------------------------------------------------------------------------------------------------- CIT Equipment Collateral, Equipment Receivable-Backed Nts., Series 2004-DFS, Cl. A2, 2.66%, 11/20/06 2 190,000 189,042 ---------------------------------------------------------------------------------------------------------- Citibank Credit Card Issuance Trust, Credit Card Receivable Nts.: Series 2001-A6, Cl. A6, 5.65%, 6/16/08 250,000 257,428 Series 2002-A3, Cl. A3, 4.40%, 5/15/07 200,000 200,996 ---------------------------------------------------------------------------------------------------------- CitiFinancial Mortgage Securities, Inc., Home Equity Collateralized Mtg. Obligations: Series 2003-2, Cl. AF1, 2.63%, 5/25/33 4 3,091 3,093 Series 2003-3, Cl. AF1, 2.65%, 8/25/33 4 45,834 45,862 ---------------------------------------------------------------------------------------------------------- Citigroup Mortgage Loan Trust, Inc., Home Equity Mtg. Obligations, Series 2004-OPT1, Cl. A1B, 2.388%, 9/1/34 2 155,692 155,497 ---------------------------------------------------------------------------------------------------------- Countrywide Asset-Backed Certificates, Inc., Home Equity Asset-Backed Certificates, Series 2002-4, Cl. A1, 2.90%, 2/25/33 4 40,249 40,632 ---------------------------------------------------------------------------------------------------------- DaimlerChrysler Auto Trust, Automobile Loan Pass-Through Certificates: Series 2001-D, Cl. A4, 3.78%, 2/6/07 64,407 64,569 Series 2003-A, Cl. A2, 1.52%, 12/8/05 28,390 28,397 Series 2003-B, Cl. A2, 1.61%, 7/10/06 228,699 228,302 Series 2004-B, Cl. A2, 2.48%, 2/8/07 2 100,000 99,700 Series 2004-C, Cl. A2, 2.62%, 6/8/07 380,000 378,486 Series 2005-A, Cl. A2, 3.22%, 9/8/07 2 320,000 319,667 ---------------------------------------------------------------------------------------------------------- Ford Credit Auto Owner Trust, Automobile Loan Pass-Through Certificates: Series 2004-A, Cl. A2, 2.13%, 10/15/06 346,526 345,204 Series 2005-A, Cl. A3, 3.56%, 11/17/08 190,000 189,803 ---------------------------------------------------------------------------------------------------------- Harley-Davidson Motorcycle Trust, Motorcycle Receivable Nts., Series 2003-3, Cl. A1, 1.50%, 1/15/08 138,705 138,188 ---------------------------------------------------------------------------------------------------------- Honda Auto Receivables Owner Trust, Automobile Receivable Obligations: Series 2003-3, Cl. A2, 1.52%, 4/21/06 125,889 125,646 Series 2003-4, Cl. A2, 1.58%, 7/17/06 191,079 190,600 Series 2005-1, Cl. A2, 3.21%, 5/21/07 130,000 130,000 ---------------------------------------------------------------------------------------------------------- Litigation Settlement Monetized Fee Trust, Asset-Backed Certificates, Series 2001-1A, Cl. A1, 8.33%, 4/25/31 2 671,874 692,769 ---------------------------------------------------------------------------------------------------------- M&I Auto Loan Trust, Automobile Loan Certificates: Series 2002-1, Cl. A3, 2.49%, 10/22/07 83,319 83,260 Series 2003-1, Cl. A2, 1.60%, 7/20/06 180,337 180,095 ---------------------------------------------------------------------------------------------------------- National City Auto Receivables Trust, Automobile Receivable Obligations, Series 2004-A, Cl. A2, 1.50%, 2/15/07 136,708 136,197 ---------------------------------------------------------------------------------------------------------- Nissan Auto Lease Trust, Automobile Lease Obligations, Series 2004-A, Cl. A2, 2.55%, 1/15/07 180,000 179,187 ---------------------------------------------------------------------------------------------------------- Nissan Auto Receivables Owner Trust, Automobile Receivable Nts.: Series 2002-A, Cl. A4, 4.28%, 10/16/06 35,728 35,862 Series 2003-C, Cl. A2, 1.62%, 4/17/06 49,394 49,324 Series 2004-A, Cl. A2, 1.40%, 7/17/06 151,204 150,551 ---------------------------------------------------------------------------------------------------------- Option One Mortgage Loan Trust, Home Equity Mtg. Obligations, 102,486 102,553 Series 2004-3, Cl. A2, 2.68%, 11/25/34 2,4 4 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- Popular ABS Mortgage Pass-Through Trust, Home Equity Pass-Through Certificates: Series 2004-5, Cl. A F2, 3.735%, 11/10/34 2 $ 70,000 $ 69,808 Series 2005-1, Cl. A F2, 3.914%, 5/25/35 60,000 60,000 ---------------------------------------------------------------------------------------------------------- Toyota Auto Receivables Owner Trust, Automobile Mtg.-Backed Obligations: Series 2002-B, Cl. A3, 3.76%, 6/15/06 9,164 9,173 Series 2003-B, Cl. A2, 1.43%, 2/15/06 35,880 35,868 ---------------------------------------------------------------------------------------------------------- USAA Auto Owner Trust, Automobile Loan Asset-Backed Nts.: Series 2002-1, Cl. A3, 2.41%, 10/16/06 32,512 32,501 Series 2004-1, Cl. A2, 1.43%, 9/15/06 345,945 344,788 Series 2004-2, Cl. A2, 2.41%, 2/15/07 210,000 209,231 Series 2004-3, Cl. A2, 2.79%, 6/15/07 180,000 179,449 ---------------------------------------------------------------------------------------------------------- Volkswagen Auto Lease Trust, Automobile Lease Asset-Backed Securities, Series 2004-A, Cl. A2, 2.47%, 1/22/07 220,000 218,891 ---------------------------------------------------------------------------------------------------------- Volkswagen Auto Loan Enhanced Trust, Automobile Loan Receivable Certificates, Series 2003-2, Cl. A2, 1.55%, 6/20/06 104,125 103,892 ---------------------------------------------------------------------------------------------------------- Wachovia Auto Owner Trust, Automobile Receivable Nts., Series 2004-B, Cl. A2, 2.40%, 5/21/07 160,000 159,232 ---------------------------------------------------------------------------------------------------------- Wells Fargo Home Equity Trust, Collateralized Mtg. Obligations, Series 2004-2, Cl. AI1B, 2.94%, 9/25/18 310,198 308,602 ---------------------------------------------------------------------------------------------------------- Whole Auto Loan Trust, Automobile Loan Receivable Certificates: Series 2002-1, Cl. A3, 2.60%, 8/15/06 210,791 210,680 Series 2003-1, Cl. A2A, 1.40%, 4/15/06 156,331 156,049 Series 2004-1, Cl. A2A, 2.59%, 5/15/07 230,000 228,936 ------------------ Total Asset-Backed Securities (Cost $8,180,299) 8,177,597 ---------------------------------------------------------------------------------------------------------- MORTGAGE-BACKED OBLIGATIONS--33.0% ---------------------------------------------------------------------------------------------------------- GOVERNMENT AGENCY--28.3% ---------------------------------------------------------------------------------------------------------- FHLMC/FNMA/SPONSORED--28.0% Federal Home Loan Mortgage Corp.: 5%, 2/1/35 5 556,000 555,305 6%, 7/1/24 376,682 391,546 6%, 9/1/34 5 2,311,533 2,389,021 6.50%, 7/1/28-4/1/34 285,272 299,352 7%, 6/1/29-9/1/33 1,291,426 1,368,298 7%, 2/1/35 5 346,000 366,003 8%, 4/1/16 110,575 117,219 9%, 8/1/22-5/1/25 31,242 34,781 ---------------------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp., Gtd. Real Estate Mtg. Investment Conduit Multiclass Pass-Through Certificates: Series 1669, Cl. G, 6.50%, 2/15/23 50,188 50,528 Series 2034, Cl. Z, 6.50%, 2/15/28 93,134 96,458 Series 2053, Cl. Z, 6.50%, 4/15/28 107,418 111,704 Series 2055, Cl. ZM, 6.50%, 5/15/28 146,730 152,260 Series 2075, Cl. D, 6.50%, 8/15/28 287,690 298,974 Series 2080, Cl. Z, 6.50%, 8/15/28 91,216 93,822 Series 2387, Cl. PD, 6%, 4/15/30 180,486 186,177 Series 2466, Cl. PD, 6.50%, 4/15/30 39,583 39,701 Series 2498, Cl. PC, 5.50%, 10/15/14 24,968 25,157 Series 2500, Cl. FD, 2.98%, 3/15/32 4 51,807 52,247 5 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- FHLMC/FNMA/SPONSORED CONTINUED Series 2526, Cl. FE, 2.88%, 6/15/29 4 $ 62,394 $ 62,764 Series 2551, Cl. FD, 2.88%, 1/15/33 4 50,151 50,502 ---------------------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp., Interest-Only Stripped Mtg.-Backed Security: Series 176, Cl. IO, 0.966%, 6/1/26 6 88,613 16,484 Series 183, Cl. IO, (0.58)%, 4/1/27 6 140,716 26,229 Series 184, Cl. IO, 3.31%, 12/1/26 6 145,152 26,812 Series 192, Cl. IO, 4.075%, 2/1/28 6 42,451 7,850 Series 200, Cl. IO, 3.696%, 1/1/29 6 51,785 9,738 Series 2130, Cl. SC, 12.958%, 3/15/29 6 117,067 12,018 Series 2796, Cl. SD, 19.64%, 7/15/26 6 149,422 16,235 Series 2920, Cl. S, 29.07%, 1/15/35 6 1,031,000 60,527 ---------------------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp., Principal-Only Stripped Mtg.-Backed Security, Series 176, Cl. PO, 6.764%, 6/1/26 7 49,477 43,399 ---------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn.: 4.50%, 2/1/20 5 1,498,000 1,495,660 5%, 2/1/20-2/1/35 5 5,728,000 5,734,771 5.50%, 2/1/33-1/1/34 1,645,847 1,678,555 5.50%, 2/1/35 5 3,658,000 3,725,446 6%, 3/1/23 962,714 1,000,139 6%, 2/1/35-3/1/35 5 3,196,000 3,296,307 6.50%, 3/1/26-10/1/30 115,005 120,632 6.50%, 4/1/35 5 4,701,000 4,912,545 7%, 2/25/22-8/1/34 2,843,960 3,001,116 7%, 2/1/35 5 901,000 953,371 7.50%, 1/1/08-8/1/29 143,488 153,067 8.50%, 7/1/32 12,564 13,645 ---------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn., Collateralized Mtg. Obligations, Trust 2002-T1, Cl. A2, 7%, 11/25/31 317,647 336,507 ---------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn., Collateralized Mtg. Obligations, Gtd. Real Estate Mtg. Investment Conduit Pass-Through Certificates: Trust 1993-87, Cl. Z, 6.50%, 6/25/23 241,444 252,928 Trust 1996-35, Cl. Z, 7%, 7/25/26 365,415 383,284 Trust 1998-63, Cl. PG, 6%, 3/25/27 49,073 49,260 Trust 2001-50, Cl. NE, 6%, 8/25/30 101,198 103,671 Trust 2001-70, Cl. LR, 6%, 9/25/30 94,975 96,713 Trust 2001-72, Cl. NH, 6%, 4/25/30 77,211 78,814 Trust 2001-74, Cl. PD, 6%, 5/25/30 30,604 30,985 Trust 2002-50, Cl. PD, 6%, 9/25/27 33,408 33,391 Trust 2002-77, Cl. WF, 2.88%, 12/18/32 4 79,903 80,398 Trust 2002-94, Cl. MA, 4.50%, 8/25/09 128,136 128,312 Trust 2003-10, Cl. HP, 5%, 2/25/18 350,000 354,285 Trust 2004-101, Cl. BG, 5%, 1/25/20 236,000 240,261 ---------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn., Gtd. Real Estate Mtg. Investment Conduit Pass-Through Certificates, Interest-Only Stripped Mtg.-Backed Security: Trust 319, Cl. 2, (2.192)%, 2/1/32 6 98,318 17,590 Trust 2002-38, Cl. SO, 19.293%, 4/25/32 6 123,345 9,175 Trust 2002-47, Cl. NS, 9.525%, 4/25/32 6 192,783 19,631 6 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- FHLMC/FNMA/SPONSORED CONTINUED Trust 2002-51, Cl. S, 9.805%, 8/25/32 6 $ 177,106 $ 18,100 Trust 2002-77, Cl. IS, 15.729%, 12/18/32 6 210,144 20,249 ---------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn., Interest-Only Stripped Mtg.-Backed Security: Trust 222, Cl. 2, (1.08)%, 6/1/23 6 292,551 57,071 Trust 240, Cl. 2, 1.35%, 9/1/23 6 449,549 87,167 Trust 247, Cl. 2, 0.485%, 10/1/23 6 512,246 94,150 Trust 252, Cl. 2, (2.459)%, 11/1/23 6 221,598 42,992 Trust 254, Cl. 2, 0.788%, 1/1/24 6 108,768 21,052 Trust 273, Cl. 2, 1.556%, 7/1/26 6 64,842 11,822 Trust 321, Cl. 2, (7.37)%, 3/1/32 6 959,418 179,879 Trust 329, Cl. 2, 2.865%, 1/1/33 6 137,587 27,371 Trust 333, Cl. 2, 3.85%, 3/1/33 6 985,070 199,049 Trust 334, Cl. 17, (11.53)%, 2/1/33 6 159,734 32,255 Trust 1993-223, Cl. PM, 0.821%, 10/25/23 6 85,590 8,816 Trust 2001-81, Cl. S, 14.061%, 1/25/32 6 98,867 11,813 Trust 2002-9, Cl. MS, 10.833%, 3/25/32 6 138,178 14,578 Trust 2002-52, Cl. SD, 9.275%, 9/25/32 6 223,794 21,050 Trust 2002-77, Cl. SH, 20.892%, 12/18/32 6 126,639 14,652 Trust 2004-54, Cl. DS, 19.386%, 11/25/30 6 188,655 16,256 Trust 2005-6, Cl. SE, 0%, 2/25/35 6 660,000 51,194 ---------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn., Principal-Only Stripped Mtg.-Backed Security, Trust 1993-184, Cl. M, 9.305%, 9/25/23 7 93,215 81,655 ------------------ 36,272,741 ---------------------------------------------------------------------------------------------------------- GNMA/GUARANTEED--0.3% Government National Mortgage Assn.: 7%, 4/15/09-2/15/24 159,922 169,688 7.50%, 3/15/09 87,469 92,387 8%, 5/15/17 56,376 61,723 8.50%, 8/15/17-12/15/17 40,277 43,903 ---------------------------------------------------------------------------------------------------------- Government National Mortgage Assn., Interest-Only Stripped Mtg.-Backed Security: Series 2001-21, Cl. SB, 10.717%, 1/16/27 6 275,214 27,988 Series 2002-76, Cl. SY, 7.763%, 12/16/26 6 372,254 37,440 Series 2004-11, Cl. SM, 6.224%, 1/17/30 6 144,743 12,877 ------------------ 446,006 PRIVATE--4.7% ---------------------------------------------------------------------------------------------------------- COMMERCIAL--4.7% Banc of America Commercial Mortgage, Inc., Commercal Mtg. Pass-Through Certificates, Series 2004-6, Cl. A3, 4.512%, 12/10/42 210,000 210,394 ---------------------------------------------------------------------------------------------------------- Bank of America Mortgage Securities, Inc., Collateralized Mtg. Obligations Pass-Through Certificates: Series 2004-E, Cl. 2A9, 3.712%, 6/25/34 170,404 170,674 Series 2004-G, Cl. 2A1, 2.469%, 8/25/34 97,924 97,806 Series 2004-2, Cl. 2A1, 6.50%, 7/20/32 314,235 319,415 Series 2004-8, Cl. 5A1, 6.50%, 5/25/32 262,186 271,854 7 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- COMMERCIAL CONTINUED Countrywide Alternative Loan Trust, Collateralized Mtg. Obligations: Series 2004-J9, Cl. 1A1, 2.71%, 10/25/34 4 $ 260,697 $ 261,016 Series 2005-J1, Cl. 4A1, 6.50%, 1/15/35 5 390,000 401,700 ---------------------------------------------------------------------------------------------------------- First Union National Bank/Lehman Brothers/Bank of America Commercial Mtg. Trust, Pass-Through Certificates, Series 1998-C2, Cl. A2, 6.56%, 11/18/35 140,000 149,904 ---------------------------------------------------------------------------------------------------------- GMAC Commercial Mortgage Securities, Inc., Commercial Mtg. Obligations, Series 2004-C3, Cl. A4, 4.547%, 12/10/41 140,000 140,869 ---------------------------------------------------------------------------------------------------------- GMAC Commercial Mortgage Securities, Inc., Commercial Mtg. Pass-Through Certificates, Series 1997-C1, Cl. A3, 6.869%, 7/15/29 96,156 101,365 ---------------------------------------------------------------------------------------------------------- Greenwich Capital Commercial Funding Corp., Commercial Mtg. Pass-Through Certificates, Series 2005-G G3, Cl. A2, 4.305%, 8/10/42 5 190,000 190,935 ---------------------------------------------------------------------------------------------------------- GS Mortgage Securities Corp. II, Commercial Mtg. Pass-Through Certificates, Series 2004-C1, Cl. A1, 3.659%, 10/10/28 148,845 146,912 ---------------------------------------------------------------------------------------------------------- GSR Mortgage Loan Trust, Collateralized Mtg. Obligations, Series 04-12, Cl. 3A1, 4.577%, 12/25/34 2,4 397,214 397,326 ---------------------------------------------------------------------------------------------------------- Mastr Alternative Loan Trust, Pass-Through Collateralized Mtg. Obligations, Series 2004-6, Cl. 10A1, 6%, 7/25/34 398,539 409,805 ---------------------------------------------------------------------------------------------------------- Mastr Asset Securitization Trust, Pass-Through Collateralized Mtg. Obligations, Series 2004-9, Cl. A3, 4.70%, 8/25/34 543,496 543,205 ---------------------------------------------------------------------------------------------------------- Mastr Seasoned Securities Trust, Collateralized Mtg. Obligations, Series 2004-2, Cl. A1, 6.50%, 8/25/32 604,387 621,763 ---------------------------------------------------------------------------------------------------------- Nomura Asset Securities Corp., Commercial Mtg. Pass-Through Certificates, Series 1998-D6, Cl. A1B, 6.59%, 3/15/30 160,000 172,411 ---------------------------------------------------------------------------------------------------------- Prudential Mortgage Capital Co. II LLC, Commercial Mtg. Pass-Through Certificates, Series PRU-HTG 2000-C1, Cl. A2, 7.306%, 10/6/15 192,000 221,169 ---------------------------------------------------------------------------------------------------------- Wachovia Bank Commercial Mortgage Trust, Commercial Mtg. Obligations, Series 2005-C16, Cl. A2, 4.38%, 10/15/41 270,000 271,867 ---------------------------------------------------------------------------------------------------------- Wells Fargo Mortgage-Backed Securities Trust, Collateralized Mtg. Obligations: Series 2004-DD, Cl. 2 A1, 4.548%, 1/25/35 454,272 455,674 Series 2004-N, Cl. A10, 3.803%, 8/25/34 2 313,583 314,380 Series 2004-W, Cl. A2, 4.635%, 11/25/34 4 186,948 187,129 ------------------ 6,057,573 ------------------ Total Mortgage-Backed Obligations (Cost $42,670,199) 42,776,320 ---------------------------------------------------------------------------------------------------------- U.S. GOVERNMENT OBLIGATIONS--5.5% ---------------------------------------------------------------------------------------------------------- Federal Home Loan Bank Unsec. Bonds, 2.75%, 10/15/06 1,065,000 1,054,224 ---------------------------------------------------------------------------------------------------------- Federal Home Loan Mortgage Corp. Unsec. Nts., 6.625%, 9/15/09 470,000 523,102 ---------------------------------------------------------------------------------------------------------- Federal National Mortgage Assn. Unsec. Nts.: 4.25%, 7/15/07 1,010,000 1,026,611 7.25%, 5/15/30 170,000 225,285 7.25%, 1/15/10 8 1,350,000 1,544,323 ---------------------------------------------------------------------------------------------------------- Tennessee Valley Authority Bonds: 5.375%, 11/13/08 109,000 114,966 7.125%, 5/1/30 203,000 266,430 Series A, 6.79%, 5/23/12 950,000 1,101,463 ---------------------------------------------------------------------------------------------------------- U.S. Treasury Bonds: 272,000 304,353 5.375%, 2/15/31 8 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- U.S. GOVERNMENT OBLIGATIONS CONTINUED ---------------------------------------------------------------------------------------------------------- STRIPS, 2.99%, 2/15/10 9 $ 125,000 $ 103,710 STRIPS, 3.37%, 2/15/11 9 101,000 79,893 STRIPS, 4.96%, 2/15/16 9 171,000 105,423 ---------------------------------------------------------------------------------------------------------- U.S. Treasury Nts.: 2.50%, 9/30/06-10/31/06 540,000 533,909 4.25%, 11/15/14 139,000 140,325 ------------------ Total U.S. Government Obligations (Cost $7,097,822) 7,124,017 ---------------------------------------------------------------------------------------------------------- FOREIGN GOVERNMENT OBLIGATIONS--0.1% ---------------------------------------------------------------------------------------------------------- United Mexican States Nts., 7.50%, 1/14/12 (Cost $110,927) 110,000 125,950 ---------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- NON-CONVERTIBLE CORPORATE BONDS AND NOTES--12.9% ---------------------------------------------------------------------------------------------------------- Aetna, Inc., 7.375% Sr. Unsec. Nts., 3/1/06 250,000 259,145 ---------------------------------------------------------------------------------------------------------- Allied Waste North America, Inc., 8.875% Sr. Nts., Series B, 4/1/08 110,000 115,500 ---------------------------------------------------------------------------------------------------------- Allstate Financial Global Funding LLC, 4.25% Nts., 9/10/08 10 50,000 50,449 ---------------------------------------------------------------------------------------------------------- Allstate Life Global Funding II, 3.50% Nts., 7/30/07 65,000 64,658 ---------------------------------------------------------------------------------------------------------- American Express Centurion Bank, 4.375% Nts., 7/30/09 250,000 253,693 ---------------------------------------------------------------------------------------------------------- American Honda Finance Corp., 3.85% Nts., 11/6/08 10 180,000 179,042 ---------------------------------------------------------------------------------------------------------- AT&T Wireless Services, Inc., 7.50% Sr. Unsec. Nts., 5/1/07 175,000 188,970 ---------------------------------------------------------------------------------------------------------- AXA, 8.60% Unsec. Sub. Nts., 12/15/30 190,000 257,477 ---------------------------------------------------------------------------------------------------------- Bank of America Corp., 4.875% Sr. Unsec. Nts., 1/15/13 3,000 3,082 ---------------------------------------------------------------------------------------------------------- Bankers Trust Corp., 7.375% Unsec. Sub. Nts., 5/1/08 20,000 22,079 ---------------------------------------------------------------------------------------------------------- Beazer Homes USA, Inc., 8.625% Sr. Unsec. Nts., 5/15/11 115,000 125,925 ---------------------------------------------------------------------------------------------------------- Boeing Capital Corp., 5.75% Sr. Nts., 2/15/07 21,000 21,825 ---------------------------------------------------------------------------------------------------------- British Telecommunications plc: 7.875% Nts., 12/15/05 155,000 160,939 8.125% Nts., 12/15/10 85,000 101,757 ---------------------------------------------------------------------------------------------------------- Canadian National Railway Co., 4.25% Nts., 8/1/09 32,000 32,168 ---------------------------------------------------------------------------------------------------------- CenterPoint Energy, Inc.: 5.875% Sr. Nts., 6/1/08 135,000 140,910 8.125% Unsec. Nts., Series B, 7/15/05 60,000 61,353 ---------------------------------------------------------------------------------------------------------- Chancellor Media CCU, 8% Sr. Unsec. Nts., 11/1/08 230,000 255,832 ---------------------------------------------------------------------------------------------------------- Chesapeake Energy Corp., 7.50% Sr. Nts., 6/15/14 120,000 131,400 ---------------------------------------------------------------------------------------------------------- CIGNA Corp., 7.40% Unsec. Nts., 5/15/07 295,000 316,121 ---------------------------------------------------------------------------------------------------------- CIT Group, Inc., 7.75% Sr. Unsec. Unsub. Nts., 4/2/12 120,000 142,325 ---------------------------------------------------------------------------------------------------------- Citizens Communications Co., 9.25% Sr. Nts., 5/15/11 60,000 70,350 ---------------------------------------------------------------------------------------------------------- ConAgra Foods, Inc., 6% Nts., 9/15/06 130,000 134,755 ---------------------------------------------------------------------------------------------------------- Conectiv, Inc., 5.30% Unsec. Unsub. Nts., Series B, 6/1/05 33,000 33,194 ---------------------------------------------------------------------------------------------------------- Cox Communications, Inc., 7.875% Unsec. Nts., 8/15/09 30,000 33,893 ---------------------------------------------------------------------------------------------------------- Cox Enterprises, Inc., 7.375% Unsec. Debs., 6/15/09 10 130,000 140,987 ---------------------------------------------------------------------------------------------------------- CSX Corp., 6.25% Unsec. Nts., 10/15/08 120,000 128,957 ---------------------------------------------------------------------------------------------------------- D.R. Horton, Inc., 6.125% Nts., 1/15/14 110,000 116,036 ---------------------------------------------------------------------------------------------------------- DaimlerChrysler NA Holdings Corp., 7.20% Unsec. Nts., 9/1/09 285,000 316,066 ---------------------------------------------------------------------------------------------------------- Delphi Corp., 6.55% Nts., 6/15/06 91,000 93,071 ---------------------------------------------------------------------------------------------------------- Deutsche Telekom International Finance BV, 8.50% Unsub. Nts., 6/15/10 155,000 184,167 ---------------------------------------------------------------------------------------------------------- Dominion Resources, Inc., 8.125% Sr. Unsub. Nts., 6/15/10 135,000 158,436 ---------------------------------------------------------------------------------------------------------- DTE Energy Co., 6.45% Sr. Unsub. Nts., 6/1/06 120,000 124,269 ---------------------------------------------------------------------------------------------------------- Duke Capital LLC, 5.668% Nts., 8/15/14 135,000 140,608 ---------------------------------------------------------------------------------------------------------- Federated Department Stores, Inc., 6.625% Sr. Unsec. Nts., 9/1/08 160,000 172,803 ---------------------------------------------------------------------------------------------------------- FedEx Corp., 2.65% Unsec. Nts., 4/1/07 275,000 268,594 9 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- FirstEnergy Corp.: 5.50% Sr. Unsub. Nts., Series A, 11/15/06 $ 105,000 $ 108,012 7.375% Sr. Unsub. Nts., Series C, 11/15/31 120,000 139,978 ---------------------------------------------------------------------------------------------------------- Food Lion, Inc., 7.55% Nts., 4/15/07 165,000 177,260 ---------------------------------------------------------------------------------------------------------- Ford Holdings, Inc., 9.30% Unsec. Unsub. Debs., 3/1/30 55,000 64,120 ---------------------------------------------------------------------------------------------------------- Ford Motor Credit Co., 7.375% Nts., 10/28/09 55,000 58,625 ---------------------------------------------------------------------------------------------------------- France Telecom SA: 7.95% Sr. Unsec. Nts., 3/1/06 80,000 83,578 8.50% Sr. Unsec. Nts., 3/1/11 80,000 95,584 9.25% Sr. Unsec. Nts., 3/1/31 4 45,000 62,749 ---------------------------------------------------------------------------------------------------------- Franklin Resources, Inc., 3.70% Nts., 4/15/08 80,000 79,622 ---------------------------------------------------------------------------------------------------------- Gap, Inc. (The): 71,000 76,325 6.90% Nts., 9/15/07 2 10.05% Unsub. Nts., 12/15/08 4 29,000 35,054 ---------------------------------------------------------------------------------------------------------- General Mills, Inc., 3.875% Nts., 11/30/07 190,000 189,825 ---------------------------------------------------------------------------------------------------------- General Motors Acceptance Corp.: 5.125% Nts., 5/9/08 45,000 44,110 7.25% Nts., 3/2/11 340,000 348,776 ---------------------------------------------------------------------------------------------------------- Hartford Financial Services Group, Inc. (The), 2.375% Nts., 6/1/06 70,000 68,623 ---------------------------------------------------------------------------------------------------------- Hertz Corp. (The), 6.35% Nts., 6/15/10 340,000 346,184 ---------------------------------------------------------------------------------------------------------- Hilton Hotels Corp., 7.95% Sr. Nts., 4/15/07 95,000 102,704 ---------------------------------------------------------------------------------------------------------- Household Finance Corp., 8.875% Sr. Unsec. Nts., 2/15/06 175,000 184,266 ---------------------------------------------------------------------------------------------------------- IPALCO Enterprises, Inc., 8.375% Sr. Sec. Nts., 11/14/08 2,4 110,000 123,750 ---------------------------------------------------------------------------------------------------------- iStar Financial, Inc.: 4.875% Sr. Unsec. Nts., Series B, 1/15/09 115,000 116,399 8.75% Sr. Unsec. Nts., 8/15/08 85,000 96,399 ---------------------------------------------------------------------------------------------------------- ITT Corp., 6.75% Unsec. Nts., 11/15/05 135,000 138,544 ---------------------------------------------------------------------------------------------------------- J.C. Penney Co., Inc., 8% Nts., 3/1/10 240,000 273,300 ---------------------------------------------------------------------------------------------------------- John Hancock Global Funding II, 7.90% Nts., 7/2/10 10 111,000 129,755 ---------------------------------------------------------------------------------------------------------- Kinder Morgan, Inc., 6.50% Sr. Unsec. Nts., 9/1/12 150,000 165,480 ---------------------------------------------------------------------------------------------------------- Kraft Foods, Inc., 5.25% Nts., 6/1/07 300,000 309,533 ---------------------------------------------------------------------------------------------------------- Kroger Co. (The), 7.80% Sr. Nts., 8/15/07 180,000 196,155 ---------------------------------------------------------------------------------------------------------- Lear Corp., 8.11% Sr. Unsec. Nts., Series B, 5/15/09 210,000 236,990 ---------------------------------------------------------------------------------------------------------- Lehman Brothers Holdings, Inc., 7% Nts., 2/1/08 165,000 179,348 ---------------------------------------------------------------------------------------------------------- Lehman Brothers, Inc., 6.625% Sr. Sub. Nts., 2/15/08 25,000 26,861 ---------------------------------------------------------------------------------------------------------- Lennar Corp., 5.95% Sr. Unsec. Nts., 3/1/13 125,000 132,815 ---------------------------------------------------------------------------------------------------------- Liberty Media Corp., 3.50% Nts., 9/25/06 110,000 108,965 ---------------------------------------------------------------------------------------------------------- Liberty Property Trust, 5.65% Sr. Nts., 8/15/14 130,000 134,828 ---------------------------------------------------------------------------------------------------------- Marsh & McLennan Cos., Inc., 5.375% Sr. Unsec. Nts., 3/15/07 175,000 178,713 ---------------------------------------------------------------------------------------------------------- May Department Stores Co.: 3.95% Nts., 7/15/07 111,000 110,903 7.90% Unsec. Debs., 10/15/07 105,000 114,977 ---------------------------------------------------------------------------------------------------------- MBNA America Bank NA, 5.375% Nts., 1/15/08 185,000 192,225 ---------------------------------------------------------------------------------------------------------- McDonnell Douglas Corp., 6.875% Unsec. Unsub. Nts., 11/1/06 34,000 35,787 ---------------------------------------------------------------------------------------------------------- Merrill Lynch & Co., Inc., 4.125% Nts., 9/10/09 255,000 254,684 ---------------------------------------------------------------------------------------------------------- MidAmerican Energy Holdings Co., 5.875% Sr. Unsec. Nts., 10/1/12 265,000 282,555 ---------------------------------------------------------------------------------------------------------- Morgan Stanley, 6.60% Nts., 4/1/12 155,000 173,368 ---------------------------------------------------------------------------------------------------------- National City Bank, 6.20% Sub. Nts., 12/15/11 17,000 18,734 ---------------------------------------------------------------------------------------------------------- Nationwide Financial Services, Inc., 5.90% Nts., 7/1/12 125,000 132,523 ---------------------------------------------------------------------------------------------------------- News America Holdings, Inc., 8.50% Sr. Nts., 2/15/05 67,000 67,105 ---------------------------------------------------------------------------------------------------------- NiSource Finance Corp., 7.875% Sr. Unsec. Nts., 11/15/10 190,000 223,110 10 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited ------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- Principal Amount Value ---------------------------------------------------------------------------------------------------------- Northrop Grumman Corp., 7.125% Sr. Nts., 2/15/11 $ 150,000 $ 172,078 ---------------------------------------------------------------------------------------------------------- Pemex Project Funding Master Trust, 7.875% Unsec. Unsub. Nts., 2/1/09 80,000 89,400 ---------------------------------------------------------------------------------------------------------- PF Export Receivables Master Trust, 3.748% Sr. Nts., Series B, 6/1/13 10 71,569 69,214 ---------------------------------------------------------------------------------------------------------- Prudential Holdings LLC, 8.695% Bonds, Series C, 12/18/23 10 195,000 253,101 ---------------------------------------------------------------------------------------------------------- Prudential Insurance Co. of America, 8.30% Nts., 7/1/25 10 260,000 341,522 ---------------------------------------------------------------------------------------------------------- PSE&G Power LLC, 6.875% Sr. Unsec. Nts., 4/15/06 130,000 134,924 ---------------------------------------------------------------------------------------------------------- PSEG Energy Holdings LLC, 7.75% Unsec. Nts., 4/16/07 2 115,000 120,606 ---------------------------------------------------------------------------------------------------------- Safeway, Inc., 4.80% Sr. Unsec. Nts., 7/16/07 300,000 306,124 ---------------------------------------------------------------------------------------------------------- Sempra Energy, 7.95% Sr. Unsec. Unsub. Nts., 3/1/10 127,000 146,058 ---------------------------------------------------------------------------------------------------------- Spieker Properties LP, 6.75% Unsec. Unsub. Nts., 1/15/08 195,000 210,281 ---------------------------------------------------------------------------------------------------------- Sprint Capital Corp.: 7.125% Sr. Unsec. Nts., 1/30/06 135,000 139,735 8.75% Nts., 3/15/32 100,000 135,852 ---------------------------------------------------------------------------------------------------------- Starwood Hotels & Resorts Worldwide, Inc., 7.375% Nts., 5/1/07 100,000 106,875 ---------------------------------------------------------------------------------------------------------- SunTrust Banks, Inc.: 4% Nts., 10/15/08 135,000 135,273 7.75% Unsec. Sub. Nts., 5/1/10 11,000 12,790 ---------------------------------------------------------------------------------------------------------- TCI Communications, Inc., 9.80% Sr. Unsec. Debs., 2/1/12 245,000 317,814 ---------------------------------------------------------------------------------------------------------- Telefonos de Mexico SA de CV, 4.75% Nts., 1/27/10 10 165,000 166,252 ---------------------------------------------------------------------------------------------------------- Time Warner Cos., Inc., 9.125% Debs., 1/15/13 130,000 166,801 ---------------------------------------------------------------------------------------------------------- Time Warner Entertainment Co. LP, 10.15% Sr. Nts., 5/1/12 65,000 85,456 ---------------------------------------------------------------------------------------------------------- Toll Corp., 8.25% Sr. Sub. Nts., 12/1/11 2 115,000 127,363 ---------------------------------------------------------------------------------------------------------- Travelers Property Casualty Corp., 3.75% Sr. Unsec. Nts., 3/15/08 225,000 222,282 ---------------------------------------------------------------------------------------------------------- TXU Corp., 4.80% Nts., 11/15/09 10 115,000 114,647 ---------------------------------------------------------------------------------------------------------- Tyco International Group SA: 6.375% Sr. Unsec. Unsub. Nts., 2/15/06 180,000 185,286 6.75% Sr. Unsub. Nts., 2/15/11 76,000 85,244 ---------------------------------------------------------------------------------------------------------- Univision Communications, Inc.: 2.875% Sr. Unsec. Nts., 10/15/06 32,000 31,502 3.50% Sr. Unsec. Nts., 10/15/07 165,000 162,598 ---------------------------------------------------------------------------------------------------------- Volkswagen Credit, Inc., 2.93% Nts., 7/21/05 4,10 245,000 245,044 ---------------------------------------------------------------------------------------------------------- Vornado Realty LP, 5.625% Sr. Unsec. Unsub. Nts., 6/15/07 245,000 253,709 ---------------------------------------------------------------------------------------------------------- Walt Disney Co. (The), 5.375% Sr. Unsec. Nts., 6/1/07 145,000 149,899 ---------------------------------------------------------------------------------------------------------- Waste Management, Inc.: 7% Sr. Nts., 7/15/28 90,000 104,063 7.125% Sr. Unsec. Nts., 10/1/07 175,000 188,977 ---------------------------------------------------------------------------------------------------------- Weyerhaeuser Co., 5.50% Unsec. Unsub. Nts., 3/15/05 52,000 52,121 ---------------------------------------------------------------------------------------------------------- Yum! Brands, Inc., 8.50% Sr. Unsec. Nts., 4/15/06 260,000 274,933 ------------------ Total Non-Convertible Corporate Bonds and Notes (Cost $16,255,062) 16,727,861
11 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited -------------------------------------------------------------------------------
---------------------------------------------------------------------------------------------------------- SHORT-TERM NOTES--1.7% ---------------------------------------------------------------------------------------------------------- Federal Home Loan Bank, 2.10%, 2/1/05 (Cost $2,200,000) $ 2,200,000 $ 2,200,000 ---------------------------------------------------------------------------------------------------------- JOINT REPURCHASE AGREEMENTS--5.9% ---------------------------------------------------------------------------------------------------------- Undivided interest of 0.48% in joint repurchase agreement (Principal Amount/Value $1,603,710,000, with a maturity value of $1,603,819,141) with UBS Warburg LLC, 2.45%, dated 1/31/05, to be repurchased at $7,635,520 on 2/1/05, collateralized by Federal National Mortgage Assn., 5%--6%, 3/1/34--8/1/34, with a value of $1,637,129,989 (Cost $7,635,000) 7,635,000 7,635,000 Value ---------------------------------------------------------------------------------------------------------- Total Investments, at Value (Cost $141,508,292) 118.2% $ 153,349,377 ---------------------------------------------------------------------------------------------------------- Liabilities in Excess of Other Assets (18.2) (23,559,538) ------------------------------------- Net Assets 100.0% $ 129,789,839 =====================================
Footnotes to Statement of Investments 1. Non-income producing security. 2. Illiquid or restricted security. The aggregate value of illiquid or restricted securities as of January 31, 2005 was $2,901,228, which represents 2.24% of the Fund's net assets, of which zero is considered restricted. See accompanying Notes to Quarterly Statement of Investments. 3. Received as the result of issuer reorganization. 4. Represents the current interest rate for a variable or increasing rate security. 5. When-issued security or forward commitment to be delivered and settled after January 31, 2005. See accompanying Notes to Quarterly Statement of Investments. 6. Interest-Only Strips represent the right to receive the monthly interest payments on an underlying pool of mortgage loans. These securities typically decline in price as interest rates decline. Most other fixed income securities increase in price when interest rates decline. The principal amount of the underlying pool represents the notional amount on which current interest is calculated. The price of these securities is typically more sensitive to changes in prepayment rates than traditional mortgage-backed securities (for example, GNMA pass-throughs). Interest rates disclosed represent current yields based upon the current cost basis and estimated timing and amount of future cash flows. These securities amount to $1,230,110 or 0.95% of the Fund's net assets as of January 31, 2005. 7. Principal-Only Strips represent the right to receive the monthly principal payments on an underlying pool of mortgage loans. The value of these securities generally increases as interest rates decline and prepayment rates rise. The price of these securities is typically more volatile than that of coupon-bearing bonds of the same maturity. Interest rates disclosed represent current yields based upon the current cost basis and estimated timing of future cash flows. These securities amount to $125,054 or 0.10% of the Fund's net assets as of January 31, 2005. 8. All or a portion of the security is held in collateralized accounts to cover initial margin requirements on open futures sales contracts with an aggregate market value of $251,667. See accompanying Notes to Quarterly Statement of Investments. 9. Zero coupon bond reflects effective yield on the date of purchase. 10. Represents securities sold under Rule 144A, which are exempt from registration under the Securities Act of 1933, as amended. These securities have been determined to be liquid under guidelines established by the Board of Directors. These securities amount to $1,690,013 or 1.30% of the Fund's net assets as of January 31, 2005. 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 January 31, 2005 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 $141,508,292 ============= Gross unrealized appreciation $ 14,828,107 Gross unrealized depreciation (2,987,022) ------------- Net unrealized appreciation $ 11,841,085 ============= NOTES TO QUARTERLY 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 business. Securities listed or traded on National Stock Exchanges or other domestic or foreign exchanges are valued based on the last sale price of the security traded on that exchange prior to the time when the Fund's assets are valued. Securities traded on NASDAQ are valued based on the closing price provided 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 closing bid and asked prices, and if not, at the closing bid price. 12 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited - -------------------------------------------------------------------------------- Corporate, government and municipal debt instruments having a remaining maturity in excess of sixty days and all mortgage-backed securities will be valued at the mean between the "bid" and "asked" prices. Securities may be valued primarily using dealer-supplied valuations or a portfolio pricing service authorized by the Board of Directors. Securities (including restricted securities) for which market quotations are not readily available are valued at their fair value. Foreign and domestic 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 their respective exchanges will be fair valued. Fair value is determined in good faith using consistently applied procedures under the supervision of the Board of Directors. Short-term "money market type" debt securities with remaining maturities of sixty days or less are valued at amortized cost (which approximates market value). SECURITIES ON A WHEN-ISSUED BASIS OR FORWARD COMMITMENT. Delivery and payment for securities that have been purchased by the Fund on a when-issued basis or forward commitment can take place up to ten days or more after the trade date. Normally the settlement date occurs within six months after the trade date; however, the Fund may, from time to time, purchase securities whose settlement date extends six months or more beyond trade date. During this period, such securities do not earn interest, are subject to market fluctuation and may increase or decrease in value prior to their delivery. The Fund maintains internally designated assets with a market value equal to or greater than the amount of its purchase commitments. The purchase of securities on a when-issued basis or forward commitment may increase the volatility of the Fund's net asset value to the extent the Fund executes such transactions while remaining substantially fully invested. The Fund may also sell securities that it purchased on a when-issued basis or forward commitment prior to settlement of the original purchase. As of January 31, 2005, the Fund had purchased $41,287,634 of securities on a when-issued basis or forward commitment and sold $17,368,552 of securities issued on a when-issued basis or forward commitment. In connection with its ability to purchase or sell securities on a when-issued basis, the Fund may enter into forward roll transactions with respect to mortgage-related securities. Forward roll transactions require the sale of securities for delivery in the current month, and a simultaneous agreement with the same counterparty to repurchase similar (same type, coupon and maturity) but not identical securities on a specified future date. The Fund records the incremental difference between the forward purchase and sale of each forward roll as realized gain (loss) on investments or as fee income in the case of such transactions that have an associated fee in lieu of a difference in the forward purchase and sale price. Risks of entering into forward roll transactions include the potential inability of the counterparty to meet the terms of the agreement; the potential of the Fund to receive inferior securities at redelivery as compared to the securities sold to the counterparty; counterparty credit risk; and the potential pay down speed variance between the mortgage-related pools. FOREIGN CURRENCY TRANSLATION. The Fund's accounting records are maintained in U.S. dollars. Prices of securities denominated in foreign currencies are translated into U.S. dollars 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 business. Amounts related to the purchase and sale of foreign securities and investment income are translated at the rates of exchange prevailing on the respective dates of such transactions. Foreign exchange rates may be valued primarily using dealer supplied valuations or a portfolio pricing service authorized by the Board of Directors. 13 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited - -------------------------------------------------------------------------------- Reported net realized foreign exchange gains or losses arise from sales of portfolio securities, sales and maturities of short-term securities, sales of foreign currencies, currency gains or losses realized 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 foreign exchange gains and losses 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 of securities held and reported with all other foreign currency gains and losses in the Fund's Statement of Operations. JOINT REPURCHASE AGREEMENTS. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission, the Fund, along with other affiliated funds advised by the Manager, may transfer uninvested cash balances into joint trading accounts on a daily basis. These balances are invested in one or more repurchase agreements. Securities pledged as collateral for repurchase agreements are held by a custodian bank until the agreements mature. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal. In the event of default by the other party to the agreement, retention of the collateral may be subject to legal proceedings. FOREIGN CURRENCY CONTRACTS. A foreign currency contract is a commitment to purchase or sell a foreign currency at a future date, at a negotiated rate. The Fund may enter into foreign currency contracts to settle specific purchases or sales of securities denominated in a foreign currency and for protection from adverse exchange rate fluctuation. Risks to the Fund include the potential inability of the counterparty to meet the terms of the contract. The net U.S. dollar value of foreign currency underlying all contractual commitments held by the Fund and the resulting unrealized appreciation or depreciation are determined using prevailing foreign currency exchange rates. Unrealized appreciation and depreciation on foreign currency contracts are reported in the Statement of Assets and Liabilities as a receivable or payable and in the Statement of Operations with the change in unrealized appreciation or depreciation. The Fund may realize a gain or loss upon the closing or settlement of the foreign transaction. Contracts closed or settled with the same broker are recorded as net realized gains or losses. Such realized gains and losses are reported with all other foreign currency gains and losses in the Statement of Operations. As of January 31, 2005, the Fund had no outstanding foreign currency contracts. FUTURES CONTRACTS. A futures contract is a commitment to buy or sell a specific amount of a commodity or financial instrument at a negotiated price on a stipulated future date. Futures contracts are traded on a commodity exchange. The Fund may buy and sell futures contracts that relate to broadly based securities indices (financial futures) or debt securities (interest rate futures) in order to gain exposure to or protection from changes in market value of stocks and bonds or interest rates. The Fund may also buy or write put or call options on these futures contracts. The Fund generally sells futures contracts as a hedge against increases in interest rates and decreases in market value of portfolio securities. The Fund may also purchase futures contracts to gain exposure to market changes as it may be more efficient or cost effective than actually buying securities. 14 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited - -------------------------------------------------------------------------------- Upon entering into a futures contract, the Fund is required to deposit either cash or securities (initial margin) in an amount equal to a certain percentage of the contract value. Subsequent payments (variation margin) are made or received by the Fund each day. The variation margin payments are equal to the daily changes in the contract value and are recorded as unrealized gains and losses. The Fund recognizes a realized gain or loss when the contract is closed or has expired. Cash held by the broker to cover initial margin requirements on open futures contracts is noted in the Statement of Assets and Liabilities. Securities held in collateralized accounts to cover initial margin requirements on open futures contracts are noted in the Statement of Investments. The Statement of Assets and Liabilities reflects a receivable and/or payable for the daily mark to market for variation margin. Realized gains and losses are reported in the Statement of Operations as the closing and expiration of futures contracts. The net change in unrealized appreciation and depreciation is reported in the Statement of Operations. Risks of entering into futures contracts (and related options) include the possibility that there may be an illiquid market and that a change in the value of the contract or option may not correlate with changes in the value of the underlying securities. As of January 31, 2005, the Fund had outstanding futures contracts as follows:
EXPIRATION NUMBER OF VALUATION AS OF UNREALIZED CONTRACT DESCRIPTION DATES CONTRACTS JANUARY 31, 2005 APPRECIATION - ------------------------------------------------------------------------------------------------------------ CONTRACTS TO PURCHASE U.S. Long Bonds 3/21/05 91 $ 10,450,781 $ 283,627 U.S. Treasury Nts., 10 yr. 3/21/05 54 6,062,344 46,348 ---------------- 329,975 ---------------- CONTRACTS TO SELL U.S. Treasury Nts., 2 yr. 3/31/05 21 4,390,313 15,317 U.S. Treasury Nts., 5 yr. 3/21/05 97 10,597,250 7,592 ---------------- 22,909 ---------------- $ 352,884 ================
TOTAL RETURN SWAP CONTRACTS. The Fund may enter into a total return swap transaction to maintain a total return on a particular investment, or portion of its portfolio, or for other non-speculative purposes. Because the principal amount is not exchanged, it represents neither an asset nor a liability to either counterparty, and is referred to as notional. The Fund records an increase or decrease to unrealized gain (loss), in the amount due to or owed by the Fund at termination or settlement. Total return swaps are subject to risks (if the counterparty fails to meet its obligations). As of January 31, 2005, the Fund had entered into the following total return swap agreements: 15 | Oppenheimer Disciplined Allocation Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited - --------------------------------------------------------------------------------
PAID BY RECEIVED BY SWAP NOTIONAL THE FUND AT THE FUND AT TERMINATION UNREALIZED COUNTERPARTY AMOUNT JANUARY 31, 2005 JANUARY 31, 2005 DATE APPRECIATION - -------------------------------------------------------------------------------------------------------------------------- Value of total return Goldman Sachs One-Month LIBOR of Lehman Brothers CMBS Capital Markets LP $ 850,000 BBA Rate Index 3/31/05 $ 3,308 Index abbreviations are as follows: CMBS Commercial Mortgage Backed Securities Markets LIBOR BBA London-Interbank Offered Rate British Bankers Association
ILLIQUID OR RESTRICTED SECURITIES. As of January 31, 2005, investments in securities included issues that are illiquid or restricted. Restricted securities are purchased in private placement transactions, are not registered under the Securities Act of 1933, may have contractual restrictions on resale, and are valued under methods approved by the Board of Directors as reflecting fair value. A security may also be considered illiquid if it lacks a readily available market or if its valuation has not changed for a certain period of time. The Fund will not invest more than 10% of its net assets (determined at the time of purchase and reviewed periodically) in illiquid or restricted securities. Certain restricted securities, eligible for resale to qualified institutional investors, are not subject to that limitation. Information concerning restricted securities is as follows:
ACQUISITION VALUATION AS OF UNREALIZED SECURITY DATE COST JANUARY 31, 2005 DEPRECIATION - ---------------------------------------------------------------------------------------------------- Geotek Communications, Inc., Series B, Escrow Shares 1/4/01 $ 400 $ -- $ 400
16 | Oppenheimer Disciplined Allocation Fund ITEM 2. CONTROLS AND PROCEDURES. (a) Based on their evaluation of 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 January 31, 2005, registrant's principal executive officer and principal financial officer found registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in 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. (a) Exhibits attached hereto. (Attach certifications as exhibits) 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 Disciplined Allocation Fund By: /s/John V. Murphy ----------------- John V. Murphy Chief Executive Officer Date: March 17, 2005 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 Chief Executive Officer Date: March 17, 2005 By: /s/Brian W. Wixted ------------------ Brian W. Wixted Chief Financial Officer Date: March 17, 2005 EX-99.CERT 2 rq205_15136ex99-302.txt RQ205_15136EX99-302.TXT 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 Disciplined Allocation 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(s) 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(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (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 Chief Executive Officer Date: March 17, 2005 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 Disciplined Allocation 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(s) 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(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (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 Chief Financial Officer Date: March 17, 2005 -----END PRIVACY-ENHANCED MESSAGE-----