-----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, EI4oWHxq1O/kFxjmEHQqx9G3XZdTnCGjiNDyiOTXTU6ZwAA46QzcRfRI5EqUOr3W McChyjbwHzTXtp44PAT/EQ== 0000935069-05-000808.txt : 20050401 0000935069-05-000808.hdr.sgml : 20050401 20050401153835 ACCESSION NUMBER: 0000935069-05-000808 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: 05725302 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 rq375_15142nq.txt RQ375_15142NQ.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 Value 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--97.0% - ----------------------------------------------------------------------------------------------------------- CONSUMER DISCRETIONARY--8.6% - ----------------------------------------------------------------------------------------------------------- HOTELS, RESTAURANTS & LEISURE--1.0% McDonald's Corp. 227,770 $ 7,377,470 - ----------------------------------------------------------------------------------------------------------- MEDIA--7.6% Liberty Media Corp., Cl. A 1 2,525,970 26,371,127 - ----------------------------------------------------------------------------------------------------------- UnitedGlobalCom, Inc., Cl. A 1 2,975,462 29,070,264 ---------------- 55,441,391 CONSUMER STAPLES--5.8% - ----------------------------------------------------------------------------------------------------------- TOBACCO--5.8% Altria Group, Inc. 665,100 42,453,333 ENERGY--10.0% - ----------------------------------------------------------------------------------------------------------- ENERGY EQUIPMENT & SERVICES--1.6% Halliburton Co. 278,510 11,455,116 - ----------------------------------------------------------------------------------------------------------- OIL & GAS--8.4% BP plc, ADR 621,330 37,043,695 - ----------------------------------------------------------------------------------------------------------- Kinder Morgan, Inc. 72,630 5,450,155 - ----------------------------------------------------------------------------------------------------------- LUKOIL, Sponsored ADR 64,150 7,954,600 - ----------------------------------------------------------------------------------------------------------- Petroleo Brasileiro SA, ADR 277,100 11,264,115 ---------------- 61,712,565 FINANCIALS--25.3% - ----------------------------------------------------------------------------------------------------------- COMMERCIAL BANKS--7.0% Bank of America Corp. 637,238 29,548,726 - ----------------------------------------------------------------------------------------------------------- Wells Fargo & Co. 350,460 21,483,198 ---------------- 51,031,924 - ----------------------------------------------------------------------------------------------------------- DIVERSIFIED FINANCIAL SERVICES--11.5% Citigroup, Inc. 720,146 35,323,161 - ----------------------------------------------------------------------------------------------------------- Franklin Resources, Inc. 280,760 19,052,374 - ----------------------------------------------------------------------------------------------------------- Lehman Brothers Holdings, Inc. 324,700 29,609,393 --------------- 83,984,928 - ----------------------------------------------------------------------------------------------------------- INSURANCE--4.5% Genworth Financial, Inc., Cl. A 301,900 8,009,407 - ----------------------------------------------------------------------------------------------------------- Platinum Underwriters Holdings Ltd. 261,600 7,725,048 - ----------------------------------------------------------------------------------------------------------- Prudential Financial, Inc. 311,850 16,811,834 ---------------- 32,546,289 - ----------------------------------------------------------------------------------------------------------- THRIFTS & MORTGAGE FINANCE--2.3% Countrywide Financial Corp. 197,500 7,307,500 - ----------------------------------------------------------------------------------------------------------- Freddie Mac 146,830 9,586,531 ---------------- 16,894,031 HEALTH CARE--2.4% - ----------------------------------------------------------------------------------------------------------- BIOTECHNOLOGY--1.9% Wyeth 356,870 14,142,758 - ----------------------------------------------------------------------------------------------------------- PHARMACEUTICALS--0.5% Pfizer, Inc. 138,600 3,348,576 INDUSTRIALS--19.7% - ----------------------------------------------------------------------------------------------------------- AEROSPACE & DEFENSE--9.8% Empresa Brasileira de Aeronautica SA, ADR 380,100 12,106,185 - ----------------------------------------------------------------------------------------------------------- Honeywell International, Inc. 1,003,500 36,105,930 - ----------------------------------------------------------------------------------------------------------- 1 | Oppenheimer Value Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited - ----------------------------------------------------------------------------------------------------------- Shares Value - ----------------------------------------------------------------------------------------------------------- AEROSPACE & DEFENSE CONTINUED Raytheon Co. 621,890 $ 23,258,686 ---------------- 71,470,801 - ----------------------------------------------------------------------------------------------------------- COMMERCIAL SERVICES & SUPPLIES--4.2% Cendant Corp. 1,287,790 30,327,455 - ----------------------------------------------------------------------------------------------------------- INDUSTRIAL CONGLOMERATES--5.7% General Electric Co. 747,710 27,014,762 - ----------------------------------------------------------------------------------------------------------- Tyco International Ltd. 402,070 14,530,810 ---------------- 41,545,572 INFORMATION TECHNOLOGY--11.9% - ----------------------------------------------------------------------------------------------------------- COMPUTERS & PERIPHERALS--4.9% International Business Machines Corp. 379,070 35,412,719 - ----------------------------------------------------------------------------------------------------------- SOFTWARE--7.0% Compuware Corp. 1 564,020 3,891,738 - ----------------------------------------------------------------------------------------------------------- Microsoft Corp. 562,400 14,779,872 - ----------------------------------------------------------------------------------------------------------- Novell, Inc. 1 1,049,900 6,057,923 - ----------------------------------------------------------------------------------------------------------- Synopsys, Inc. 1 498,800 8,479,600 - ----------------------------------------------------------------------------------------------------------- Take-Two Interactive Software, Inc. 1 513,150 18,088,538 ---------------- 51,297,671 MATERIALS--4.1% - ----------------------------------------------------------------------------------------------------------- CHEMICALS--2.1% Praxair, Inc. 354,780 15,308,757 - ----------------------------------------------------------------------------------------------------------- METALS & MINING--2.0% Alcan, Inc. 66,200 2,632,774 - ----------------------------------------------------------------------------------------------------------- Inco Ltd. 1 231,230 7,609,779 - ----------------------------------------------------------------------------------------------------------- Novelis, Inc. 1 13,200 295,812 - ----------------------------------------------------------------------------------------------------------- Phelps Dodge Corp. 37,300 3,591,990 ---------------- 14,130,355 TELECOMMUNICATION SERVICES--3.8% - ----------------------------------------------------------------------------------------------------------- DIVERSIFIED TELECOMMUNICATION SERVICES--3.8% IDT Corp., Cl. B 1 930,393 13,620,954 - ----------------------------------------------------------------------------------------------------------- Verizon Communications, Inc. 396,300 14,104,317 ---------------- 27,725,271 UTILITIES--5.4% - ----------------------------------------------------------------------------------------------------------- ELECTRIC UTILITIES--4.4% AES Corp. (The) 1 1,516,430 21,305,842 - ----------------------------------------------------------------------------------------------------------- PG&E Corp. 1 203,220 7,112,700 - ----------------------------------------------------------------------------------------------------------- Reliant Energy, Inc. 1 281,100 3,499,695 ---------------- 31,918,237 - ----------------------------------------------------------------------------------------------------------- GAS UTILITIES--1.0% Sempra Energy 197,000 7,332,340 ---------------- Total Common Stocks (Cost $596,043,808) 706,857,559 2 | Oppenheimer Value Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited - ----------------------------------------------------------------------------------------------------------- Principal Amount Value - ----------------------------------------------------------------------------------------------------------- JOINT REPURCHASE AGREEMENTS--3.1% - ----------------------------------------------------------------------------------------------------------- Undivided interest of 1.42% 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 $22,797,551 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 $22,796,000) $ 22,796,000 $ 22,796,000 - ----------------------------------------------------------------------------------------------------------- Total Investments, at Value (Cost $618,839,808) 100.1% 729,653,559 - ----------------------------------------------------------------------------------------------------------- Liabilities in Excess of Other Assets (0.1) (927,871) ---------------------------------- Net Assets 100.0% $728,725,688 ==================================
Footnote to Statement of Investments 1. Non-income producing security. 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 $619,564,596 ============= Gross unrealized appreciation $116,951,515 Gross unrealized depreciation (6,862,552) ------------- Net unrealized appreciation $110,088,963 ============= 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. 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 3 | Oppenheimer Value Fund STATEMENT OF INVESTMENTS January 31, 2005/Unaudited - -------------------------------------------------------------------------------- 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). 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. 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. 4 | Oppenheimer Value 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 Value 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 rq375_15142ex99-302.txt RQ375_15142EX99-302.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 Value 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 Value 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-----