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

(Exact name of registrant as specified in charter)

6803 South Tucson Way, Centennial, Colorado 80112-3924

(Address of principal executive offices) (Zip code)

Arthur S. Gabinet

OFI Global Asset Management, 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: 7/31/2014

Item 1. Schedule of Investments.

STATEMENT OF INVESTMENTS    July 31, 2014      Unaudited

	Shares		Value
Common Stocks—99.5%
Consumer Discretionary—9.2%
Auto Components—1.4%
Johnson Controls, Inc.		680,580	$	32,150,599
Automobiles—1.1%
Daimler AG, Sponsored ADR		212,360		17,464,486
Ford Motor Co.		466,700		7,943,234
				25,407,720
Diversified Consumer Services—0.6%
Apollo Education Group, Inc.1		474,790		13,260,885
Hotels, Restaurants & Leisure—2.1%
MGM Resorts International1		819,360		21,991,622
Royal Caribbean Cruises Ltd.		442,710		26,407,652
				48,399,274
Household Durables—0.5%
Newell Rubbermaid, Inc.		394,780		12,822,454
Media—2.9%
Cinemark Holdings, Inc.		373,140		12,238,992
Comcast Corp., Cl. A		394,390		21,190,575
Walt Disney Co. (The)		386,982		33,234,014
				66,663,581
Specialty Retail—0.6%
Gap, Inc. (The)		368,790		14,792,167
Consumer Staples—7.2%
Beverages—1.1%
PepsiCo, Inc.		274,827		24,212,259
Food & Staples Retailing—1.8%
Costco Wholesale Corp.		127,097		14,938,981
Walgreen Co.		398,388		27,397,143
				42,336,124
Food Products—1.3%
ConAgra Foods, Inc.		286,640		8,636,463

	Shares		Value
Food Products (Continued)
Kraft Foods Group, Inc.		396,197	$	21,230,216
				29,866,679
Household Products—1.2%
Reckitt Benckiser Group plc, Sponsored ADR		1,536,620		27,490,132
Tobacco—1.8%
Lorillard, Inc.		695,821		42,083,254
Energy—12.9%
Energy Equipment & Services—2.7%
National Oilwell Varco, Inc.		283,377		22,964,872
Schlumberger Ltd.		282,676		30,639,252
Transocean Ltd.		204,280		8,240,655
				61,844,779
Oil, Gas & Consumable Fuels—10.2%
Anadarko Petroleum Corp.		389,458		41,613,587
BP plc, Sponsored ADR		597,518		29,260,457
Enbridge, Inc.		665,880		32,614,802
Occidental Petroleum Corp.		381,358		37,262,490
Phillips 66		241,670		19,601,854
Suncor Energy, Inc.		1,853,070		76,105,585
				236,458,775
Financials—21.8%
Capital Markets—5.8%
Charles Schwab Corp. (The)		771,970		21,422,167
Goldman Sachs Group, Inc. (The)		271,208		46,883,727
Invesco Ltd.		430,100		16,184,663
Morgan Stanley		1,537,228		49,713,954
				134,204,511
Commercial Banks—5.8%
Citigroup, Inc.		1,363,002		66,664,428
KeyCorp		1,750,130		23,696,760
U.S. Bancorp		694,450		29,187,734
Zions Bancorp.		483,982		13,948,361
				133,497,283
Consumer Finance—2.3%
Capital One Financial Corp.		533,011		42,395,695

1      OPPENHEIMER VALUE FUND

STATEMENT OF INVESTMENTS    Unaudited/Continued

	Shares		Value
Consumer Finance (Continued)
Navient Corp.		671,595	$	11,551,434
				53,947,129
Diversified Financial Services—0.4%
CME Group, Inc.		133,160		9,845,850
Insurance—6.5%
Aflac, Inc.		283,890		16,959,589
Allstate Corp. (The)		471,425		27,554,791
American International Group, Inc.		738,174		38,370,285
Aon plc		275,780		23,264,801
MetLife, Inc.		677,480		35,635,448
Sun Life Financial, Inc.		264,950		10,102,543
				151,887,457
Real Estate Investment Trusts (REITs)—1.0%
Public Storage		129,160		22,165,147
Health Care—14.9%
Biotechnology—2.1%
Amgen, Inc.		233,820		29,786,330
Gilead Sciences, Inc.1		198,880		18,207,464
				47,993,794
Health Care Equipment & Supplies—1.2%
Baxter International, Inc.		389,850		29,117,896
Health Care Providers & Services—3.9%
Cardinal Health, Inc.		674,711		48,343,043
HCA Holdings, Inc.1		203,510		13,291,238
UnitedHealth Group, Inc.		360,481		29,216,985
				90,851,266
Life Sciences Tools & Services—1.3%
Thermo Fisher Scientific, Inc.		247,440		30,063,960
Pharmaceuticals—6.4%
Merck & Co., Inc.		775,400		43,996,196
Roche Holding AG, Sponsored ADR		1,051,900		38,210,268
Sanofi, ADR		883,734		46,192,776

	Shares		Value
Pharmaceuticals (Continued)
Teva Pharmaceutical Industries Ltd., Sponsored ADR		382,860	$	20,483,010
				148,882,250
Industrials—12.2%
Aerospace & Defense—1.6%
United Technologies Corp.		365,262		38,407,299
Airlines—2.0%
Delta Air Lines, Inc.		1,250,660		46,849,724
Commercial Services & Supplies—1.0%
Waste Management, Inc.		505,750		22,703,118
Construction & Engineering—0.2%
Chicago Bridge & Iron Co. NV		69,360		4,114,435
Electrical Equipment—2.4%
Eaton Corp. plc		602,888		40,948,153
Schneider Electric SE, Unsponsored ADR		831,480		14,027,068
				54,975,221
Industrial Conglomerates—1.2%
Danaher Corp.		219,274		16,199,963
Siemens AG, Sponsored ADR		102,187		12,621,627
				28,821,590
Machinery—2.9%
Caterpillar, Inc.		241,940		24,375,455
Parker Hannifin Corp.		228,013		26,210,094
Pentair plc		132,511		8,489,980
Timken Co.		162,440		7,196,092
				66,271,621
Road & Rail—0.9%
CSX Corp.		704,257		21,071,369
Information Technology—14.4%
Communications Equipment—0.4%
QUALCOMM, Inc.		130,350		9,606,795
Electronic Equipment, Instruments, & Components—1.3%
TE Connectivity Ltd.		492,137		30,458,359

2      OPPENHEIMER VALUE FUND

STATEMENT OF INVESTMENTS    Unaudited/Continued

	Shares		Value
Semiconductors & Semiconductor Equipment—3.5%
Avago Technologies Ltd.		144,900	$	10,053,162
Broadcom Corp., Cl. A		319,070		12,207,618
Intel Corp.		1,005,590		34,079,445
Maxim Integrated Products, Inc.		241,931		7,090,998
Microchip Technology, Inc.		166,076		7,476,741
Micron Technology, Inc.1		364,447		11,133,856
				82,041,820
Software—4.6%
CA, Inc.		408,420		11,795,170
Citrix Systems, Inc.1		186,850		12,655,351
Microsoft Corp.		683,750		29,510,650
Oracle Corp.		1,033,960		41,761,644
Synopsys, Inc.1		274,900		10,382,973
				106,105,788
Technology Hardware, Storage & Peripherals—4.6%
Apple, Inc.		521,815		49,869,860
EMC Corp.		1,118,650		32,776,445
SanDisk Corp.		246,378		22,595,326
				105,241,631
Materials—2.5%
Chemicals—1.6%
LyondellBasell Industries NV, Cl. A		180,559		19,184,394
Potash Corp. of Saskatchewan, Inc.		508,915		18,061,393
				37,245,787
Metals & Mining—0.2%
TimkenSteel Corp.1		81,230		3,534,318
Paper & Forest Products—0.7%
Louisiana-Pacific Corp.1		1,279,430		17,323,482
Telecommunication Services—2.2%
Diversified Telecommunication Services—2.2%
Telefonica SA, Sponsored ADR		411,094		6,676,166
Verizon Communications, Inc.		889,504		44,848,792
				51,524,958

	Shares		Value
Utilities—2.2%
Electric Utilities—2.2%
Edison International		667,810	$	36,595,988
Entergy Corp.		215,750		15,713,073
				52,309,061
Total Common Stocks (Cost $1,885,308,640)				2,308,851,601
Investment Company—0.1%
Oppenheimer Institutional Money Market Fund, Cl. E, 0.09%2,3 (Cost $1,818,204)		1,818,204		1,818,204
Total Investments, at Value (Cost $1,887,126,844)		99.6%		2,310,669,805
Net Other Assets (Liabilities)		0.4		8,984,057
Net Assets		100.0%	$	2,319,653,862

3      OPPENHEIMER VALUE FUND

STATEMENT OF INVESTMENTS    Unaudited / Continued

Footnotes to Statement of Investments

1. Non-income producing security.

2. Rate shown is the 7-day yield as of July 31, 2014.

3. Is or was an affiliate, as defined in the Investment Company Act of 1940, at or during the period ended July 31, 2014, by virtue of the Fund owning at least 5% of the voting securities of the issuer or as a result of the Fund and the issuer having the same investment adviser. Transactions during the period in which the issuer was an affiliate are as follows:

	Shares October 31, 2013		Gross Additions		Gross Reductions		Shares July 31, 2014
Oppenheimer Institutional Money Market Fund, Cl. E		25,923,525		239,537,009		263,642,330		1,818,204

	Value		Income
Oppenheimer Institutional Money Market Fund, Cl. E	$	1,818,204	$	12,033

4      OPPENHEIMER VALUE FUND

NOTES TO STATEMENT OF INVESTMENTS    July 31, 2014Unaudited

Oppenheimer Value Fund (the “Fund”), a series of Oppenheimer Series Fund, is a diversified open-end management investment company registered under the Investment Company Act of 1940, as amended. The Fund’s investment objective is to seek capital appreciation. The Fund’s investment adviser is OFI Global Asset Management, Inc. (“OFI Global” or the “Manager”), a wholly-owned subsidiary of OppenheimerFunds, Inc. (“OFI” or the “Sub-Adviser”). The Manager has entered into a sub-advisory agreement with OFI.

Investment in Oppenheimer Institutional Money Market Fund. The Fund is permitted to invest daily available cash balances in an affiliated money market fund. The Fund may invest the available cash in Class E shares of Oppenheimer Institutional Money Market Fund (“IMMF”) to seek current income while preserving liquidity. IMMF is a registered open-end management investment company, regulated as a money market fund under the Investment Company Act of 1940, as amended. The Manager is the investment adviser of IMMF, and the Sub-Adviser provides investment and related advisory services to IMMF. When applicable, the Fund’s investment in IMMF is included in the Statement of Investments. Shares of IMMF are valued at their net asset value per share. 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.

Securities Valuation

The Fund calculates the net asset value of its shares as of the close of the New York Stock Exchange (the “Exchange”), normally 4:00 P.M. Eastern time, on each day the Exchange is open for trading.

The Fund’s Board has adopted procedures for the valuation of the Fund’s securities and has delegated the day-to-day responsibility for valuation determinations under those procedures to the Manager. The Manager has established a Valuation Committee which is responsible for determining a “fair valuation” for any security for which market quotations are not “readily available.” The Valuation Committee’s fair valuation determinations are subject to review, approval and ratification by the Fund’s Board at its next regularly scheduled meeting covering the calendar quarter in which the fair valuation was determined.

Valuation Methods and Inputs

Securities are valued using unadjusted quoted market prices, when available, as supplied primarily by third party pricing services or dealers.

The following methodologies are used to determine the market value or the fair value of the types of securities described below:

Securities traded on a registered U.S. securities exchange (including exchange-traded derivatives other than futures and futures options) are valued based on the last sale price of the security reported on the principal exchange on which it is traded, prior to the time when the Fund’s assets are valued. In the absence of a sale, the security is valued at the last sale price on the prior trading day, if it is within the spread of the current day’s closing “bid” and “asked” prices, and if not, at the current day’s closing bid price. A security of a foreign issuer traded on a foreign exchange, but not listed on a registered U.S. securities exchange, is

5      OPPENHEIMER VALUE FUND

NOTES TO STATEMENT OF INVESTMENTS    Unaudited / Continued

Securities Valuation (Continued)

valued based on the last sale price on the principal exchange on which the security is traded, as identified by the third party pricing service used by the Manager, prior to the time when the Fund’s assets are valued. If the last sale price is unavailable, the security is valued at the most recent official closing price on the principal exchange on which it is traded. If the last sales price or official closing price for a foreign security is not available, the security is valued at the mean between the bid and asked price per the exchange or, if not available from the exchange, obtained from two dealers. If bid and asked prices are not available from either the exchange or two dealers, the security is valued by using one of the following methodologies (listed in order of priority): (1) using a bid from the exchange, (2) the mean between the bid and asked price as provided by a single dealer, or (3) a bid from a single dealer.

Shares of a registered investment company that are not traded on an exchange are valued at that investment company’s net asset value per share.

Corporate and government debt securities (of U.S. or foreign issuers) and municipal debt securities, event-linked bonds, loans, mortgage-backed securities, collateralized mortgage obligations, and asset-backed securities are valued at the mean between the “bid” and “asked” prices utilizing evaluated prices obtained from third party pricing services or broker-dealers who may use matrix pricing methods to determine the evaluated prices.

Short-term money market type debt securities with a remaining maturity of sixty days or less are valued at cost adjusted by the amortization of discount or premium to maturity (amortized cost), which approximates market value. Short-term debt securities with a remaining maturity in excess of sixty days are valued at the mean between the “bid” and “asked” prices utilizing evaluated prices obtained from third party pricing services or broker-dealers.

A description of the standard inputs that may generally be considered by the third party pricing vendors in determining their evaluated prices is provided below.

Security Type	Standard inputs generally considered by third-party pricing vendors
Corporate debt, government debt, municipal, mortgage-backed and asset-backed securities	Reported trade data, broker-dealer price quotations, benchmark yields, issuer spreads on comparable securities, the credit quality, yield, maturity, and other appropriate factors.
Loans	Information obtained from market participants regarding reported trade data and broker-dealer price quotations.
Event-linked bonds	Information obtained from market participants regarding reported trade data and broker-dealer price quotations.

If a market value or price cannot be determined for a security using the methodologies described above, or if, in the “good faith” opinion of the Manager, the market value or price obtained does not constitute a “readily available market quotation,” or a significant event has occurred that would materially affect the value of the security the security is fair valued either (i) by a standardized fair valuation methodology applicable to the security type or the significant event as previously approved by the Valuation Committee and the Fund’s Board or (ii) as determined in good faith by the Manager’s Valuation Committee. The Valuation Committee considers all relevant facts that are reasonably available, through either public information or information available to the Manager, when determining the fair value of a

6      OPPENHEIMER VALUE FUND

NOTES TO STATEMENT OF INVESTMENTS    Unaudited / Continued

Securities Valuation (Continued)

security. Fair value determinations by the Manager are subject to review, approval and ratification by the Fund’s Board at its next regularly scheduled meeting covering the calendar quarter in which the fair valuation was determined. Those fair valuation standardized methodologies include, but are not limited to, valuing securities at the last sale price or initially at cost and subsequently adjusting the value based on: changes in company specific fundamentals, changes in an appropriate securities index, or changes in the value of similar securities which may be further adjusted for any discounts related to security-specific resale restrictions. When possible, such methodologies use observable market inputs such as unadjusted quoted prices of similar securities, observable interest rates, currency rates and yield curves. The methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities nor can it be assured that the Fund can obtain the fair value assigned to a security if it were to sell the security.

To assess the continuing appropriateness of security valuations, the Manager, or its third party service provider who is subject to oversight by the Manager, regularly compares prior day prices, prices on comparable securities, and sale prices to the current day prices and challenges those prices exceeding certain tolerance levels with the third party pricing service or broker source. For those securities valued by fair valuations, whether through a standardized fair valuation methodology or a fair valuation determination, the Valuation Committee reviews and affirms the reasonableness of the valuations based on such methodologies and fair valuation determinations on a regular basis after considering all relevant information that is reasonably available.

Classifications

Each investment asset or liability of the Fund is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Various data inputs are used in determining the value of each of the Fund’s investments as of the reporting period end. These data inputs are categorized in the following hierarchy under applicable financial accounting standards:

1) Level 1-unadjusted quoted prices in active markets for identical assets or liabilities (including securities actively traded on a securities exchange)

2) Level 2-inputs other than unadjusted quoted prices that are observable for the asset or liability (such as unadjusted quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.)

3) Level 3-significant unobservable inputs (including the Manager’s own judgments about assumptions that market participants would use in pricing the asset or liability).

The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities.

7      OPPENHEIMER VALUE FUND

NOTES TO STATEMENT OF INVESTMENTS    Unaudited / Continued

Securities Valuation (Continued)

The table below categorizes amounts as of July 31, 2014 based on valuation input level:

	Level 1— Unadjusted Quoted Prices		Level 2— Other Significant Observable Inputs		Level 3— Significant Unobservable Inputs		Value
Assets Table
Investments, at Value:
Common Stocks
Consumer Discretionary	$	213,496,680	$	—	$	—	$	213,496,680
Consumer Staples		165,988,448		—		—		165,988,448
Energy		298,303,554		—		—		298,303,554
Financials		505,547,377		—		—		505,547,377
Health Care		346,909,166		—		—		346,909,166
Industrials		283,214,377		—		—		283,214,377
Information Technology		333,454,393		—		—		333,454,393
Materials		58,103,587		—		—		58,103,587
Telecommunication Services		51,524,958		—		—		51,524,958
Utilities		52,309,061		—		—		52,309,061
Investment Company		1,818,204		—		—		1,818,204
Total Assets	$	2,310,669,805	$	—	$	—	$	2,310,669,805

Forward currency exchange contracts and futures contracts, if any, are reported at their unrealized appreciation/depreciation at measurement date, which represents the change in the contract’s value from trade date. All additional assets and liabilities included in the above table are reported at their market value at measurement date.

Federal Taxes

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 July 31, 2014 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	$	1,895,442,447
Gross unrealized appreciation	$	425,827,305
Gross unrealized depreciation		(10,599,947)
Net unrealized appreciation	$	415,227,358

8      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 7/31/2014, 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

By:	/s/ William F. Glavin, Jr.
	William F. Glavin, Jr.
	Principal Executive Officer
Date:	9/10/2014

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/ William F. Glavin, Jr.
	William F. Glavin, Jr.
	Principal Executive Officer
Date:	9/10/2014

By:	/s/ Brian W. Wixted
	Brian W. Wixted
	Principal Financial Officer
Date:	9/10/2014