-----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, QYdm43vDUv2lrD93VpOzIqcT7f6ajGjs1YAIloQewh0kV5zyXyPOB4kxVT2+qsFb bZAngt99rWVhgqr+ylE3rw== 0000935069-07-000722.txt : 20070328 0000935069-07-000722.hdr.sgml : 20070328 20070328170910 ACCESSION NUMBER: 0000935069-07-000722 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070131 FILED AS OF DATE: 20070328 DATE AS OF CHANGE: 20070328 EFFECTIVENESS DATE: 20070328 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: 07724926 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 0000356865 S000007309 Oppenheimer Value Fund C000020080 A C000020081 B C000020082 C C000020083 N C000033091 Y N-Q 1 rq375_37613nq.txt RQ375_37613NQ.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 SERIES FUND, INC. ----------------------------- (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, 2007 ---------------- ITEM 1. SCHEDULE OF INVESTMENTS. Oppenheimer Value Fund STATEMENT OF INVESTMENTS JANUARY 31, 2007 / UNAUDITED
Shares Value - ----------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS--95.2% - ----------------------------------------------------------------------------------------------------------------------------- CONSUMER DISCRETIONARY--9.9% - ----------------------------------------------------------------------------------------------------------------------------- MEDIA--7.8% Liberty Global, Inc., Series A 1 1,275,077 $ 38,328,815 - ----------------------------------------------------------------------------------------------------------------------------- Liberty Global, Inc., Series C 1 4,135,308 116,739,745 - ----------------------------------------------------------------------------------------------------------------------------- News Corp., Inc., Cl. A 1,608,200 37,390,650 --------------------- 192,459,210 - ----------------------------------------------------------------------------------------------------------------------------- SPECIALTY RETAIL--2.1% Circuit City Stores, Inc./Circuit City Group 1,120,647 22,872,405 - ----------------------------------------------------------------------------------------------------------------------------- Office Depot, Inc. 1 793,919 29,684,631 --------------------- 52,557,036 - ----------------------------------------------------------------------------------------------------------------------------- CONSUMER STAPLES--8.4% - ----------------------------------------------------------------------------------------------------------------------------- FOOD & STAPLES RETAILING--2.6% SUPERVALU, Inc. 1,039,300 39,472,614 - ----------------------------------------------------------------------------------------------------------------------------- Walgreen Co. 538,830 24,408,999 --------------------- 63,881,613 - ----------------------------------------------------------------------------------------------------------------------------- FOOD PRODUCTS--1.0% ConAgra Foods, Inc. 958,001 24,630,206 - ----------------------------------------------------------------------------------------------------------------------------- TOBACCO--4.8% Altria Group, Inc. 1,354,700 118,387,233 - ----------------------------------------------------------------------------------------------------------------------------- ENERGY--8.3% - ----------------------------------------------------------------------------------------------------------------------------- ENERGY EQUIPMENT & SERVICES--1.1% Schlumberger Ltd. 401,800 25,510,282 - ----------------------------------------------------------------------------------------------------------------------------- OIL & GAS--7.2% Exxon Mobil Corp. 1,648,200 122,131,620 - ----------------------------------------------------------------------------------------------------------------------------- TotalFinaElf SA, Sponsored ADR 816,300 55,549,215 --------------------- 177,680,835 - ----------------------------------------------------------------------------------------------------------------------------- FINANCIALS--28.6% - ----------------------------------------------------------------------------------------------------------------------------- CAPITAL MARKETS--7.1% E*TRADE Financial Corp. 1 2,163,671 52,750,299 - ----------------------------------------------------------------------------------------------------------------------------- UBS AG 1,939,050 122,179,541 --------------------- 174,929,840 - ----------------------------------------------------------------------------------------------------------------------------- COMMERCIAL BANKS--8.6% Wachovia Corp. 2,036,600 115,067,900 - ----------------------------------------------------------------------------------------------------------------------------- Wells Fargo & Co. 2,713,020 97,451,678 --------------------- 212,519,578 - ----------------------------------------------------------------------------------------------------------------------------- CONSUMER FINANCE--3.5% Capital One Financial Corp. 615,234 49,464,814 - ----------------------------------------------------------------------------------------------------------------------------- SLM Corp. 796,710 36,616,792 --------------------- 86,081,606 - ----------------------------------------------------------------------------------------------------------------------------- DIVERSIFIED FINANCIAL SERVICES--2.6% Bank of America Corp. 1,205,478 63,384,033 - ----------------------------------------------------------------------------------------------------------------------------- INSURANCE--5.8% Everest Re Group Ltd. 1,012,100 94,732,560 - ----------------------------------------------------------------------------------------------------------------------------- Genworth Financial, Inc., Cl. A 772,900 26,974,210 - ----------------------------------------------------------------------------------------------------------------------------- Platinum Underwriters Holdings Ltd. 685,570 20,464,265 --------------------- 142,171,035
1 | Oppenheimer Value Fund Oppenheimer Value Fund STATEMENT OF INVESTMENTS JANUARY 31, 2007 / UNAUDITED - ----------------------------------------------------------------------------------------------------------------------------- Shares Value - ----------------------------------------------------------------------------------------------------------------------------- THRIFTS & MORTGAGE FINANCE--1.0% Freddie Mac 395,663 $ 25,690,399 - ----------------------------------------------------------------------------------------------------------------------------- HEALTH CARE--6.5% - ----------------------------------------------------------------------------------------------------------------------------- HEALTH CARE PROVIDERS & SERVICES--3.2% Medco Health Solutions, Inc. 1 463,906 27,467,874 - ----------------------------------------------------------------------------------------------------------------------------- WellPoint, Inc. 1 644,880 50,545,694 --------------------- 78,013,568 - ----------------------------------------------------------------------------------------------------------------------------- PHARMACEUTICALS--3.3% Abbott Laboratories 243,867 12,924,951 - ----------------------------------------------------------------------------------------------------------------------------- Novartis AG, ADR 403,975 23,305,318 - ----------------------------------------------------------------------------------------------------------------------------- Sanofi-Aventis SA, ADR 1,039,655 45,827,992 --------------------- 82,058,261 - ----------------------------------------------------------------------------------------------------------------------------- INDUSTRIALS--13.6% - ----------------------------------------------------------------------------------------------------------------------------- AEROSPACE & DEFENSE--7.3% Alliant Techsystems, Inc. 1 302,610 24,511,410 - ----------------------------------------------------------------------------------------------------------------------------- KBR, Inc. 1 22,100 517,803 - ----------------------------------------------------------------------------------------------------------------------------- Rockwell Collins, Inc. 360,695 24,603,006 - ----------------------------------------------------------------------------------------------------------------------------- Spirit Aerosystems Holdings, Inc., Cl. A 1 220,530 6,754,834 - ----------------------------------------------------------------------------------------------------------------------------- United Technologies Corp. 1,804,800 122,762,496 --------------------- 179,149,549 - ----------------------------------------------------------------------------------------------------------------------------- INDUSTRIAL CONGLOMERATES--4.4% Siemens AG, Sponsored ADR 989,900 109,611,627 - ----------------------------------------------------------------------------------------------------------------------------- MACHINERY--1.9% Navistar International Corp. 1 1,072,415 47,443,640 - ----------------------------------------------------------------------------------------------------------------------------- INFORMATION TECHNOLOGY--9.2% - ----------------------------------------------------------------------------------------------------------------------------- COMMUNICATIONS EQUIPMENT--2.1% Corning, Inc. 1 2,490,200 51,895,768 - ----------------------------------------------------------------------------------------------------------------------------- COMPUTERS & PERIPHERALS--0.5% Hutchinson Technology, Inc. 1 564,900 12,552,078 - ----------------------------------------------------------------------------------------------------------------------------- SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT--2.2% Texas Instruments, Inc. 1,696,073 52,900,517 - ----------------------------------------------------------------------------------------------------------------------------- SOFTWARE--4.4% Microsoft Corp. 804,400 24,823,784 - ----------------------------------------------------------------------------------------------------------------------------- Novell, Inc. 1 4,134,834 29,977,547 - ----------------------------------------------------------------------------------------------------------------------------- Synopsys, Inc. 1 584,781 15,555,175 - ----------------------------------------------------------------------------------------------------------------------------- Take-Two Interactive Software, Inc. 1 2,258,125 39,246,213 --------------------- 109,602,719 - ----------------------------------------------------------------------------------------------------------------------------- MATERIALS--2.2% - ----------------------------------------------------------------------------------------------------------------------------- CONSTRUCTION MATERIALS--2.2% Martin Marietta Materials, Inc. 241,900 27,920,098 - ----------------------------------------------------------------------------------------------------------------------------- Vulcan Materials Co. 264,800 26,967,232 --------------------- 54,887,330 - ----------------------------------------------------------------------------------------------------------------------------- TELECOMMUNICATION SERVICES--2.1% - ----------------------------------------------------------------------------------------------------------------------------- DIVERSIFIED TELECOMMUNICATION SERVICES--1.1% Verizon Communications, Inc. 666,500 25,673,580 - ----------------------------------------------------------------------------------------------------------------------------- WIRELESS TELECOMMUNICATION SERVICES--1.0% Sprint Nextel Corp. 1,405,100 25,052,933
2 | Oppenheimer Value Fund Oppenheimer Value Fund STATEMENT OF INVESTMENTS JANUARY 31, 2007 / UNAUDITED
- ----------------------------------------------------------------------------------------------------------------------------- Shares Value - ----------------------------------------------------------------------------------------------------------------------------- UTILITIES--6.4% - ----------------------------------------------------------------------------------------------------------------------------- ELECTRIC UTILITIES--3.5% Exelon Corp. 1,223,817 $ 73,416,782 - ----------------------------------------------------------------------------------------------------------------------------- Reliant Energy, Inc. 1 795,130 11,831,534 --------------------- 85,248,316 - ----------------------------------------------------------------------------------------------------------------------------- MULTI-UTILITIES & UNREGULATED POWER--2.9% CMS Energy Corp. 1 1,527,800 25,498,982 - ----------------------------------------------------------------------------------------------------------------------------- PG&E Corp. 464,860 21,699,665 - ----------------------------------------------------------------------------------------------------------------------------- Sempra Energy 436,930 25,071,043 --------------------- 72,269,690 --------------------- Total Common Stocks (Cost $2,027,180,906) 2,346,242,482 - ----------------------------------------------------------------------------------------------------------------------------- INVESTMENTS IN AFFILIATED COMPANIES--6.1% - ----------------------------------------------------------------------------------------------------------------------------- MONEY MARKET--6.1% Oppenheimer Institutional Money Market Fund, Cl. E, 5.35% 2,3 (Cost $150,851,927) 150,851,927 150,851,927 - ----------------------------------------------------------------------------------------------------------------------------- Total Investments, at Value (Cost $2,178,032,833) 101.3% 2,497,094,409 - ----------------------------------------------------------------------------------------------------------------------------- Liabilities in Excess of Other Assets (1.3) (30,851,703) ------------------------------------------- Net Assets 100.0% $ 2,466,242,706 ===========================================
Footnotes to Statement of Investments 1. Non-income producing security. 2. Is or was an affiliate, as defined in the Investment Company Act of 1940, at or during the period ended January 31, 2007 by virtue of the Fund owning at least 5% of the voting securities of the issuer or as a result of the Fund and the issuer having the same investment advisor. Transactions during the period in which the issuer was an affiliate are as follows:
Shares Shares October 31, Gross Gross January 31, 2006 Additions Reductions 2007 - ----------------------------------------------------------------------------------------------------------------------------- Oppenheimer Institutional Money Market Fund, Cl. E, 5.35% 112,899,057 344,068,348 306,115,478 150,851,927
Dividend Value Income - ----------------------------------------------------------------------------------------------------------------------------- Oppenheimer Institutional Money Market Fund, Cl. E, 5.35% $150,851,927 $1,903,334
3 | Oppenheimer Value Fund Oppenheimer Value Fund STATEMENT OF INVESTMENTS JANUARY 31, 2007 / UNAUDITED 3. Rate shown is the 7-day yield as of January 31, 2007. NOTES TO STATEMENT OF INVESTMENTS SECURITIES VALUATION. The Fund calculates the net asset value of its shares as of the close of the New York Stock Exchange (the "Exchange"), normally 4:00 P.M. Eastern time, on each day the Exchange is open for business. Securities may be valued primarily using dealer-supplied valuations or a portfolio pricing service authorized by the Board of Directors. Securities listed or traded on National Stock Exchanges or other domestic 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(R) 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. Securities traded on foreign exchanges are valued based on the last sale price on the principal exchange on which the security is traded, as identified by the portfolio pricing service, prior to the time when the Fund's assets are valued. In the absence of a sale, the security is valued at the official closing price on the principal exchange. 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. Futures contracts traded on a commodities or futures exchange will be valued at the final settlement price or official closing price on the principal exchange as reported by such principal exchange at its trading session ending at, or most recently prior to, the time when the Fund's assets are valued. Options are valued daily based upon the last sale price on the principal exchange on which the option is traded. 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. Investments in open-end registered investment companies (including affiliated funds) are valued at that fund's net asset value. 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. The values of securities denominated in foreign currencies and amounts related to the purchase and sale of foreign securities and foreign investment income are translated into U.S. dollars as of the close of the New York Stock Exchange (the "Exchange"), normally 4:00 P.M. Eastern time, on each day the Exchange is open for business. 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 4 | Oppenheimer Value Fund Oppenheimer Value Fund STATEMENT OF INVESTMENTS JANUARY 31, 2007 / UNAUDITED 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 in the annual and semiannual reports. INVESTMENT IN OPPENHEIMER INSTITUTIONAL MONEY MARKET FUND. The Fund is permitted to invest daily available cash balances in an affiliated money market fund. The Fund may invest the available cash in Class E shares of Oppenheimer Institutional Money Market Fund ("IMMF") which seeks current income and stability of principal. IMMF is a registered open-end management investment company, regulated as a money market fund under the Investment Company Act of 1940, as amended. The Manager is also the investment advisor of IMMF. The Fund's investment in IMMF is included in the Statement of Investments. As a shareholder, the Fund is subject to its proportional share of IMMF's Class E expenses, including its management fee. The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Fund's investment in IMMF. RECENT ACCOUNTING PRONOUNCEMENTS In September 2006, the Financial Accounting Standards Board issued Statement of Financial Accounting Standards ("SFAS") No. 157, FAIR VALUE MEASUREMENTS. This standard establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and expands disclosures about fair value measurements. SFAS No. 157 applies to fair value measurements already required or permitted by existing standards. SFAS No. 157 is effective for financial statements issued for fiscal years beginning after November 15, 2007, and interim periods within those fiscal years. As of January 31, 2007, the Manager does not believe the adoption of SFAS No. 157 will materially impact the financial statement amounts; however, additional disclosures may be required about the inputs used to develop the measurements and the effect of certain of the measurements on changes in net assets for the period. 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, 2007 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. 5 | Oppenheimer Value Fund Oppenheimer Value Fund STATEMENT OF INVESTMENTS JANUARY 31, 2007 / UNAUDITED Federal tax cost of securities $ 2,181,930,011 ==================== Gross unrealized appreciation $ 325,699,450 Gross unrealized depreciation (10,535,052) -------------------- Net unrealized appreciation $ 315,164,398 ==================== 6 | Oppenheimer Value Fund ITEM 2. CONTROLS AND PROCEDURES. (a) Based on their evaluation of the registrant's disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of January 31, 2007, the registrant's principal executive officer and principal financial officer found the registrant's disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to the registrant's management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission. (b) There have been no significant changes in the registrant's internal controls over financial reporting that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Exhibits attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Oppenheimer Series Fund, Inc. By: /S/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: March 13, 2007 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: March 13, 2007 By: /s/ Brian W. Wixted --------------------------- Brian W. Wixted Principal Financial Officer Date: March 13, 2007 EX-99.CERT 2 rq375_37613cert302.txt RQ375_37613CERT302.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 Series Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of 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. By: /s/ John V. Murphy --------------------------- John V. Murphy Principal Executive Officer Date: March 13, 2007 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 Series Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of 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. By: /s/ Brian W. Wixted --------------------------- Brian W. Wixted Principal Financial Officer Date: March 13, 2007 -----END PRIVACY-ENHANCED MESSAGE-----