UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-5724
Oppenheimer Global Strategic Income Fund
(Exact name of registrant as specified in charter)
6803 South Tucson Way, Centennial, Colorado 80112-3924
(Address of principal executive offices) (Zip code)
Cynthia Lo Bessette
OFI Global Asset Management, Inc.
225 Liberty Street, New York, New York 10281-1008
(Name and address of agent for service)
Registrants telephone number, including area code: (303) 768-3200
Date of fiscal year end: September 30
Date of reporting period: 3/31/2019
Item 1. Reports to Stockholders.
Semiannual Report
|
3/31/2019
|
|||||||||
|
||||||||||
|
||||||||||
Oppenheimer Global Strategic Income Fund |
||||||||||
Important Notice: The Securities and Exchange Commission will permit funds to deliver shareholder reports electronically beginning January 1, 2021. At that time, OppenheimerFunds will send a notice, either by mail or email, each time your funds updated report is available on our website (oppenheimerfunds.com). Investors enrolled in electronic delivery will receive the notice by email, with links to the updated report. Investors who are not enrolled in electronic delivery by January 1, 2021 will receive the notice in the mail. All investors who prefer to receive shareholder reports in paper may, at any time, choose that option free of charge by calling 1.800.225.5677.
|
||||||||||
Important Updates
On October 18, 2018, Massachusetts Mutual Life Insurance Company, an indirect corporate parent of OppenheimerFunds, Inc. and its subsidiaries OFI Global Asset Management, Inc., OFI SteelPath, Inc. and OFI Advisors, LLC, announced that it has entered into an agreement whereby Invesco Ltd., a global investment management company, will acquire OppenheimerFunds, Inc. As of the date of this report, the transaction is expected to close in the second quarter of 2019, pending necessary regulatory and other third-party approvals. This is subject to change.
Update to Shareholder Report Document Delivery
Beginning January 1, 2021, OppenheimerFunds will send a notice, either by mail or email, each time your funds updated report is available on our website (oppenheimerfunds.com). Investors who are not enrolled in electronic delivery by January 1, 2021 will receive the notice in the mail. Enrolling in electronic delivery will enable you to receive a direct link to your full shareholder report the moment it becomes available, and limit the amount of mail you receive. All investors who prefer to receive shareholder reports in paper may, at any time, choose that option.
How do you update your delivery preferences?
If you own these shares through a financial intermediary, you may contact your financial intermediary.
If your accounts are held through OppenheimerFunds and you receive statements, confirms, and other documents directly from us, you can enroll in our eDocs DirectSM service at oppenheimerfunds.com or by calling us. Once youre enrolled, youll begin to receive email notifications of updated documents when they become available. If you have any questions, feel free to call us at 1.800.225.5677.
Class A Shares
AVERAGE ANNUAL TOTAL RETURNS AT 3/31/19
Class A Shares of the Fund |
||||||
Without Sales Charge | With Sales Charge |
Bloomberg Barclays U.S. Aggregate Bond Index
| ||||
6-Month
|
2.58%
|
-2.29%
|
4.63%
| |||
1-Year
|
0.85
|
-3.94
|
4.48
| |||
5-Year
|
2.18
|
1.19
|
2.74
| |||
10-Year
|
6.71
|
6.19
|
3.77
|
Performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Fund returns include changes in share price, reinvested distributions, and a 4.75% maximum applicable sales charge except where without sales charge is indicated. Current performance may be lower or higher than the performance quoted. Returns do not consider capital gains or income taxes on an individuals investment. Returns for periods of less than one year are cumulative and not annualized. For performance data current to the most recent month-end, visit oppenheimerfunds.com or call 1.800.CALL OPP (225.5677). See Fund prospectuses and summary prospectuses for more information on share classes and sales charges.
3 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
4 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
For more current Fund holdings, please visit oppenheimerfunds.com.
5 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Share Class Performance
AVERAGE ANNUAL TOTAL RETURNS WITHOUT SALES CHARGE AS OF 3/31/19
Inception Date |
6-Month | 1-Year | 5-Year | 10-Year | ||||||||||||||||
Class A (OPSIX) | 10/16/89 | 2.58 | % | 0.85 | % | 2.18 | % | 6.71 | % | |||||||||||
Class C (OSICX) | 5/26/95 | 2.20 | -0.18 | 1.40 | 5.91 | |||||||||||||||
Class I (OSIIX) | 1/27/12 | 2.78 | 0.95 | 2.54 | 3.45 | * | ||||||||||||||
Class R (OSINX) | 3/1/01 | 2.45 | 0.33 | 1.87 | 6.36 | |||||||||||||||
Class Y (OSIYX) | 1/26/98 | 2.71 | 1.09 | 2.42 | 6.94 |
AVERAGE ANNUAL TOTAL RETURNS WITH SALES CHARGE AS OF 3/31/19
Inception Date |
6-Month | 1-Year | 5-Year | 10-Year | ||||||||||||||||
Class A (OPSIX) | 10/16/89 | -2.29 | % | -3.94 | % | 1.19 | % | 6.19 | % | |||||||||||
Class C (OSICX) | 5/26/95 | 1.20 | -1.14 | 1.40 | 5.91 | |||||||||||||||
Class I (OSIIX) | 1/27/12 | 2.78 | 0.95 | 2.54 | 3.45 | * | ||||||||||||||
Class R (OSINX) | 3/1/01 | 2.45 | 0.33 | 1.87 | 6.36 | |||||||||||||||
Class Y (OSIYX) | 1/26/98 | 2.71 | 1.09 | 2.42 | 6.94 |
*Shows performance since inception.
Performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Returns do not consider capital gains or income taxes on an individuals investment. For performance data current to the most recent month-end, visit oppenheimerfunds.com or call 1.800. CALL OPP (225.5677). Fund returns include changes in share price, reinvested distributions, and the applicable sales charge: for Class A shares, the current maximum initial sales charge of 4.75% and for Class C shares, the contingent deferred sales charge of 1% for the 1-year period. There is no sales charge for Class I, Class R and Class Y shares. Returns for periods of less than one year are cumulative and not annualized. See Fund prospectuses and summary prospectuses for more information on share classes and sales charges.
Standardized yield is based on an SEC-standardized formula designed to approximate the Funds annualized hypothetical current income from securities less expenses for the 30-day period ended March 31, 2019 and that dates maximum offering price (for Class A shares) or net asset value (for all other share classes). Each result is compounded semiannually and
6 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
then annualized. Falling share prices will tend to artificially raise yields. The unsubsidized standardized yield is computed under an SEC-standardized formula based on net income earned for the 30-day period ended March 31, 2019. The calculation excludes any expense reimbursements and thus may result in a lower yield.
The Funds performance is compared to the performance of the Bloomberg Barclays U.S. Aggregate Bond Index, an index of U.S dollar-denominated, investment-grade U.S. corporate government and mortgage-backed securities. The Index is unmanaged and cannot be purchased directly by investors. While index comparisons may be useful to provide a benchmark for the Funds performance, it must be noted that the Funds investments are not limited to the investments comprising the Index. Index performance includes reinvestment of income, but does not reflect transaction costs, fees, expenses or taxes. Index performance is shown for illustrative purposes only as a benchmark for the Funds performance, and does not predict or depict performance of the Fund. The Funds performance reflects the effects of the Funds business and operating expenses.
Before investing in any of the Oppenheimer funds, investors should carefully consider a funds investment objectives, risks, charges and expenses. Fund prospectuses and summary prospectuses contain this and other information about the funds, and may be obtained by asking your financial advisor, visiting oppenheimerfunds.com, or calling 1.800.CALL OPP (225.5677). Read prospectuses and summary prospectuses carefully before investing.
Shares of Oppenheimer funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including the possible loss of the principal amount invested.
7 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Fund Expenses. As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments and/or contingent deferred sales charges on redemptions; and (2) ongoing costs, including management fees; distribution and service fees; and other Fund expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The examples are based on an investment of $1,000.00 invested at the beginning of the period and held for the entire 6-month period ended March 31, 2019.
Actual Expenses. The first section of the table provides information about actual account values and actual expenses. You may use the information in this section for the class of shares you hold, together with the amount you invested, to estimate the expense that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600.00 account value divided by $1,000.00 = 8.60), then multiply the result by the number in the first section under the heading entitled Expenses Paid During 6 Months Ended March 31, 2019 to estimate the expenses you paid on your account during this period.
Hypothetical Example for Comparison Purposes. The second section of the table provides information about hypothetical account values and hypothetical expenses based on the Funds actual expense ratio for each class of shares, and an assumed rate of return of 5% per year for each class before expenses, which is not the Funds actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example for the class of shares you hold with the 5% hypothetical examples that appear in the shareholder reports of the other funds.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as front-end or contingent deferred sales charges (loads). Therefore, the hypothetical section of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
8 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Actual | Beginning Account Value October 1, 2018 |
Ending Account Value March 31, 2019 |
Expenses Paid During 6 Months Ended | |||||||||
Class A | $ | 1,000.00 | $ | 1,025.80 | $ | 5.06 | ||||||
Class C | 1,000.00 | 1,022.00 | 8.91 | |||||||||
Class I | 1,000.00 | 1,027.80 | 3.14 | |||||||||
Class R | 1,000.00 | 1,024.50 | 6.38 | |||||||||
Class Y | 1,000.00 | 1,027.10 | 3.85 | |||||||||
Hypothetical (5% return before expenses) |
||||||||||||
Class A | 1,000.00 | 1,019.95 | 5.05 | |||||||||
Class C | 1,000.00 | 1,016.16 | 8.89 | |||||||||
Class I | 1,000.00 | 1,021.84 | 3.13 | |||||||||
Class R | 1,000.00 | 1,018.65 | 6.36 | |||||||||
Class Y | 1,000.00 | 1,021.14 | 3.84 |
Expenses are equal to the Funds annualized expense ratio for that class, multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period). Those annualized expense ratios, excluding indirect expenses from affiliated funds, based on the 6-month period ended March 31, 2019 are as follows:
Class | Expense Ratios | |||
Class A | 1.00 | % | ||
Class C | 1.76 | |||
Class I | 0.62 | |||
Class R | 1.26 | |||
Class Y | 0.76 |
The expense ratios reflect voluntary and/or contractual waivers and/or reimbursements of expenses by the Funds Manager. Some of these undertakings may be modified or terminated at any time, as indicated in the Funds prospectus. The Consolidated Financial Highlights tables in the Funds financial statements, included in this report, also show the gross expense ratios, without such waivers or reimbursements and reduction to custodian expenses, if applicable.
9 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS March 31, 2019 Unaudited
Principal Amount | Value | |||||||
Asset-Backed Securities2.5% | ||||||||
American Credit Acceptance Receivables Trust: | ||||||||
Series 2015-3, Cl. D, 5.86%, 7/12/221 | $ | 550,000 | $ | 550,574 | ||||
Series 2017-4, Cl. B, 2.61%, 5/10/211 | 290,962 | 290,858 | ||||||
Series 2017-4, Cl. C, 2.94%, 1/10/241 | 1,347,000 | 1,345,125 | ||||||
Series 2017-4, Cl. D, 3.57%, 1/10/241 | 1,747,000 | 1,748,440 | ||||||
AmeriCredit Automobile Receivables Trust: | ||||||||
Series 2017-2, Cl. D, 3.42%, 4/18/23 | 2,270,000 | 2,283,109 | ||||||
Series 2017-4, Cl. D, 3.08%, 12/18/23 | 985,000 | 986,082 | ||||||
Cabelas Credit Card Master Note Trust, Series 2016-1, Cl. A2, 3.334% [US0001M+85], 6/15/222 | 4,605,000 | 4,612,617 | ||||||
Capital Auto Receivables Asset Trust, Series 2017-1, Cl. D, 3.15%, 2/20/251 | 290,000 | 288,563 | ||||||
CarMax Auto Owner Trust: | ||||||||
Series 2015-2, Cl. D, 3.04%, 11/15/21 | 525,000 | 525,079 | ||||||
Series 2015-3, Cl. D, 3.27%, 3/15/22 | 1,805,000 | 1,801,978 | ||||||
Series 2016-1, Cl. D, 3.11%, 8/15/22 | 1,370,000 | 1,366,107 | ||||||
Series 2017-1, Cl. D, 3.43%, 7/17/23 | 1,775,000 | 1,781,118 | ||||||
Series 2017-4, Cl. D, 3.30%, 5/15/24 | 750,000 | 747,388 | ||||||
Series 2018-1, Cl. D, 3.37%, 7/15/24 | 510,000 | 510,721 | ||||||
CCG Receivables Trust: | ||||||||
Series 2017-1, Cl. B, 2.75%, 11/14/231 | 1,725,000 | 1,720,120 | ||||||
Series 2018-1, Cl. B, 3.09%, 6/16/251 | 615,000 | 616,885 | ||||||
Series 2018-1, Cl. C, 3.42%, 6/16/251 | 175,000 | 175,570 | ||||||
CIG Auto Receivables Trust, Series 2017-1A, Cl. A, 2.71%, 5/15/231 | 343,070 | 342,383 | ||||||
CNH Equipment Trust, Series 2017-C, Cl. B, 2.54%, 5/15/25 | 495,000 | 491,285 | ||||||
CPS Auto Receivables Trust, Series 2018-A, Cl. B, 2.77%, 4/18/221 | 975,000 | 972,058 | ||||||
CPS Auto Trust, Series 2017-A, Cl. B, 2.68%, 5/17/211 | 136,535 | 136,407 | ||||||
Credit Acceptance Auto Loan Trust: | ||||||||
Series 2017-3A, Cl. C, 3.48%, 10/15/261 | 1,505,000 | 1,505,790 | ||||||
Series 2018-1A, Cl. B, 3.60%, 4/15/271 | 915,000 | 922,285 | ||||||
Series 2018-1A, Cl. C, 3.77%, 6/15/271 | 1,305,000 | 1,315,173 | ||||||
Dell Equipment Finance Trust, Series 2017-2, Cl. B, 2.47%, 10/24/221 | 500,000 | 497,844 | ||||||
Drive Auto Receivables Trust: | ||||||||
Series 2015-BA, Cl. D, 3.84%, 7/15/211 | 61,453 | 61,533 | ||||||
Series 2016-CA, Cl. D, 4.18%, 3/15/241 | 1,240,000 | 1,255,988 | ||||||
Series 2018-1, Cl. D, 3.81%, 5/15/24 | 1,000,000 | 1,008,673 | ||||||
Series 2018-3, Cl. D, 4.30%, 9/16/24 | 440,000 | 449,482 | ||||||
DT Auto Owner Trust: | ||||||||
Series 2016-4A, Cl. E, 6.49%, 9/15/231 | 555,000 | 568,364 | ||||||
Series 2017-1A, Cl. D, 3.55%, 11/15/221 | 1,120,000 | 1,123,529 | ||||||
Series 2017-1A, Cl. E, 5.79%, 2/15/241 | 1,160,000 | 1,190,728 | ||||||
Series 2017-2A, Cl. D, 3.89%, 1/15/231 | 1,330,000 | 1,338,056 | ||||||
Series 2017-3A, Cl. E, 5.60%, 8/15/241 | 1,245,000 | 1,286,346 | ||||||
Series 2017-4A, Cl. D, 3.47%, 7/17/231 | 1,410,000 | 1,413,808 | ||||||
Series 2017-4A, Cl. E, 5.15%, 11/15/241 | 1,035,000 | 1,057,383 |
10 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||||
Asset-Backed Securities (Continued) | ||||||||||||
Element Rail Leasing I LLC, Series 2014-1A, Cl. A1, 2.299%, 4/19/441 | $ | 411,045 | $ | 409,789 | ||||||||
Exeter Automobile Receivables Trust, Series 2018-1A, Cl. B, 2.75%, 4/15/221 | 1,050,000 | 1,048,851 | ||||||||||
Flagship Credit Auto Trust, Series 2016-1, Cl. C, 6.22%, 6/15/221 | 2,725,000 | 2,821,095 | ||||||||||
GLS Auto Receivables Trust, Series 2018-1A, Cl. A, 2.82%, 7/15/223 | 1,412,164 | 1,410,127 | ||||||||||
GM Financial Automobile Leasing Trust, Series 2017-3, Cl. C, 2.73%, 9/20/21 | 850,000 | 845,881 | ||||||||||
Navistar Financial Dealer Note Master Owner Trust II: | ||||||||||||
Series 2017-1, Cl. C, 4.036% [US0001M+155], 6/27/221,2 | 435,000 | 435,535 | ||||||||||
Series 2017-1, Cl. D, 4.786% [US0001M+230], 6/27/221,2 | 505,000 | 505,255 | ||||||||||
Santander Drive Auto Receivables Trust: | ||||||||||||
Series 2017-1, Cl. D, 3.17%, 4/17/23 | 1,215,000 | 1,216,522 | ||||||||||
Series 2017-1, Cl. E, 5.05%, 7/15/241 | 2,460,000 | 2,516,837 | ||||||||||
Series 2017-3, Cl. D, 3.20%, 11/15/23 | 2,030,000 | 2,029,076 | ||||||||||
Series 2018-1, Cl. D, 3.32%, 3/15/24 | 750,000 | 752,615 | ||||||||||
Series 2018-2, Cl. D, 3.88%, 2/15/24 | 370,000 | 375,508 | ||||||||||
Santander Retail Auto Lease Trust, Series 2017-A, Cl. C, 2.96%, 11/21/221 | 1,330,000 | 1,327,636 | ||||||||||
SLM Student Loan Trust, Series 2004-5X, Cl. A6, 0.092% [EUR003M+40], 10/25/392,4 | EUR | 18,891,747 | 20,585,731 | |||||||||
TCF Auto Receivables Owner Trust, Series 2015-1A, Cl. D, 3.53%, 3/15/221 | 850,000 | 849,948 | ||||||||||
United Auto Credit Securitization Trust, Series 2018-1, Cl. C, 3.05%, 9/10/211 | 1,620,000 | 1,620,934 | ||||||||||
Veros Automobile Receivables Trust, Series 2017-1, Cl. A, 2.84%, 4/17/231 | 235,858 | 235,499 | ||||||||||
Westlake Automobile Receivables Trust: | ||||||||||||
Series 2016-1A, Cl. E, 6.52%, 6/15/221 | 1,785,000 | 1,793,127 | ||||||||||
Series 2017-2A, Cl. E, 4.63%, 7/15/241 | 1,845,000 | 1,858,865 | ||||||||||
Series 2018-1A, Cl. D, 3.41%, 5/15/231 | 2,075,000 | 2,080,635 | ||||||||||
World Financial Network Credit Card Master Trust: | ||||||||||||
Series 2012-D, Cl. A, 2.15%, 4/17/23 | 1,195,000 | 1,193,443 | ||||||||||
Series 2018-A, Cl. A, 3.07%, 12/16/24 | 3,660,000 | 3,681,019 | ||||||||||
Series 2018-C, Cl. A, 3.55%, 8/15/25 | 990,000 | 1,008,395 | ||||||||||
Total Asset-Backed Securities (Cost $88,739,511) | 88,889,772 | |||||||||||
Mortgage-Backed Obligations21.2% | ||||||||||||
Government Agency12.5% | ||||||||||||
FHLMC/FNMA/FHLB/Sponsored11.6% | ||||||||||||
Federal Home Loan Mortgage Corp. Gold Pool: | ||||||||||||
5.00%, 12/1/34 | 386,594 | 414,336 | ||||||||||
5.50%, 9/1/39 | 859,554 | 934,922 | ||||||||||
6.00%, 7/1/19-7/1/24 | 263,800 | 285,165 | ||||||||||
6.50%, 2/1/22-6/1/35 | 361,158 | 403,607 | ||||||||||
7.00%, 8/1/21-3/1/35 | 539,253 | 601,968 | ||||||||||
7.50%, 1/1/32-2/1/32 | 1,095,769 | 1,288,509 |
11 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
FHLMC/FNMA/FHLB/Sponsored (Continued) | ||||||||
Federal Home Loan Mortgage Corp. Gold Pool: (Continued) | ||||||||
8.50%, 8/1/31 | $ | 33,060 | $ | 37,395 | ||||
10.00%, 5/1/20 | 215 | 215 | ||||||
Federal Home Loan Mortgage Corp. Non Gold Pool, 10.50%, 5/1/20 | 3,786 | 3,808 | ||||||
Federal Home Loan Mortgage Corp., Interest-Only Stripped Mtg.-Backed Security: | ||||||||
Series 183, Cl. IO, 82.664%, 4/1/275 | 87,150 | 18,609 | ||||||
Series 192, Cl. IO, 99.999%, 2/1/285 | 36,665 | 7,171 | ||||||
Series 205, Cl. IO, 62.058%, 9/1/295 | 230,587 | 46,425 | ||||||
Series 206, Cl. IO, 0.00%, 12/15/295,6 | 107,342 | 29,759 | ||||||
Series 207, Cl. IO, 0.00%, 4/1/305,6 | 90,007 | 19,872 | ||||||
Series 214, Cl. IO, 0.00%, 6/1/315,6 | 71,048 | 15,067 | ||||||
Series 243, Cl. 6, 13.27%, 12/15/325 | 201,738 | 37,897 | ||||||
Federal Home Loan Mortgage Corp., Real Estate Mtg. Investment Conduit Multiclass Pass-Through Certificates: |
| |||||||
Series 1360, Cl. PZ, 7.50%, 9/15/22 | 642,782 | 676,686 | ||||||
Series 151, Cl. F, 9.00%, 5/15/21 | 237 | 241 | ||||||
Series 1590, Cl. IA, 3.534% [LIBOR01M+105], 10/15/232 | 444,890 | 451,704 | ||||||
Series 1674, Cl. Z, 6.75%, 2/15/24 | 18,754 | 19,865 | ||||||
Series 2034, Cl. Z, 6.50%, 2/15/28 | 5,553 | 6,048 | ||||||
Series 2042, Cl. N, 6.50%, 3/15/28 | 5,731 | 6,203 | ||||||
Series 2043, Cl. ZP, 6.50%, 4/15/28 | 618,964 | 686,242 | ||||||
Series 2053, Cl. Z, 6.50%, 4/15/28 | 4,862 | 5,403 | ||||||
Series 2116, Cl. ZA, 6.00%, 1/15/29 | 298,495 | 325,310 | ||||||
Series 2122, Cl. F, 2.934% [LIBOR01M+45], 2/15/292 | 15,433 | 15,048 | ||||||
Series 2279, Cl. PK, 6.50%, 1/15/31 | 9,539 | 10,522 | ||||||
Series 2326, Cl. ZP, 6.50%, 6/15/31 | 71,253 | 77,887 | ||||||
Series 2344, Cl. FP, 3.434% [LIBOR01M+95], 8/15/312 | 209,629 | 214,840 | ||||||
Series 2368, Cl. PR, 6.50%, 10/15/31 | 10,700 | 11,977 | ||||||
Series 2401, Cl. FA, 3.134% [LIBOR01M+65], 7/15/292 | 25,325 | 25,606 | ||||||
Series 2412, Cl. GF, 3.434% [LIBOR01M+95], 2/15/322 | 255,322 | 261,836 | ||||||
Series 2427, Cl. ZM, 6.50%, 3/15/32 | 422,604 | 465,680 | ||||||
Series 2451, Cl. FD, 3.484% [LIBOR01M+100], 3/15/322 | 117,156 | 120,360 | ||||||
Series 2461, Cl. PZ, 6.50%, 6/15/32 | 45,895 | 50,573 | ||||||
Series 2464, Cl. FI, 3.484% [LIBOR01M+100], 2/15/322 | 114,856 | 118,011 | ||||||
Series 2470, Cl. AF, 3.484% [LIBOR01M+100], 3/15/322 | 189,018 | 194,189 | ||||||
Series 2470, Cl. LF, 3.484% [LIBOR01M+100], 2/15/322 | 117,466 | 120,693 | ||||||
Series 2475, Cl. FB, 3.484% [LIBOR01M+100], 2/15/322 | 160,878 | 165,297 | ||||||
Series 2517, Cl. GF, 3.484% [LIBOR01M+100], 2/15/322 | 97,124 | 99,792 | ||||||
Series 2551, Cl. LF, 2.984% [LIBOR01M+50], 1/15/332 | 14,428 | 14,535 | ||||||
Series 2635, Cl. AG, 3.50%, 5/15/32 | 159,696 | 161,689 | ||||||
Series 2676, Cl. KY, 5.00%, 9/15/23 | 219,716 | 227,160 | ||||||
Series 3010, Cl. WB, 4.50%, 7/15/20 | 641 | 642 | ||||||
Series 3025, Cl. SJ, 15.643% [-3.667 x LIBOR01M+2,475], 8/15/352 | 244,320 | 354,918 | ||||||
Series 3848, Cl. WL, 4.00%, 4/15/40 | 335,167 | 339,566 | ||||||
Series 3857, Cl. GL, 3.00%, 5/15/40 | 8,853 | 9,022 | ||||||
Series 3917, Cl. BA, 4.00%, 6/15/38 | 203,635 | 210,168 | ||||||
Series 4221, Cl. HJ, 1.50%, 7/15/23 | 347,155 | 340,821 |
12 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
FHLMC/FNMA/FHLB/Sponsored (Continued) | ||||||||
Federal Home Loan Mortgage Corp., Real Estate Mtg. Investment Conduit Multiclass Pass-Through Certificates, |
| |||||||
Interest-Only Stripped Mtg.-Backed Security: | ||||||||
Series 2035, Cl. PE, 60.103%, 3/15/285 | $ | 12,787 | $ | 2,349 | ||||
Series 2049, Cl. PL, 99.999%, 4/15/285 | 68,818 | 12,963 | ||||||
Series 2074, Cl. S, 99.999%, 7/17/285 | 50,147 | 4,704 | ||||||
Series 2079, Cl. S, 99.999%, 7/17/285 | 92,377 | 10,495 | ||||||
Series 2177, Cl. SB, 99.999%, 8/15/295 | 67,674 | 10,982 | ||||||
Series 2526, Cl. SE, 57.904%, 6/15/295 | 124,575 | 20,521 | ||||||
Series 2682, Cl. TQ, 99.999%, 10/15/335 | 518,302 | 78,965 | ||||||
Series 2795, Cl. SH, 56.27%, 3/15/245 | 692,612 | 43,934 | ||||||
Series 2920, Cl. S, 99.999%, 1/15/355 | 905,144 | 145,439 | ||||||
Series 2922, Cl. SE, 16.895%, 2/15/355 | 57,533 | 9,472 | ||||||
Series 2981, Cl. AS, 0.668%, 5/15/355 | 416,323 | 57,785 | ||||||
Series 2981, Cl. BS, 99.999%, 5/15/355 | 1,063,724 | 166,236 | ||||||
Series 3004, Cl. SB, 99.999%, 7/15/355 | 1,266,565 | 127,625 | ||||||
Series 3397, Cl. GS, 3.432%, 12/15/375 | 298,967 | 52,264 | ||||||
Series 3424, Cl. EI, 0.00%, 4/15/385,6 | 85,665 | 8,510 | ||||||
Series 3450, Cl. BI, 10.175%, 5/15/385 | 432,592 | 63,398 | ||||||
Series 3606, Cl. SN, 10.907%, 12/15/395 | 218,099 | 28,338 | ||||||
Federal National Mortgage Assn.: | ||||||||
2.50%, 4/1/347 | 11,040,000 | 10,976,246 | ||||||
3.00%, 4/1/34-4/1/497 | 18,645,000 | 18,693,073 | ||||||
3.50%, 4/1/497 | 59,985,000 | 60,821,510 | ||||||
4.00%, 4/1/497 | 71,620,000 | 73,679,074 | ||||||
4.50%, 4/1/497 | 193,440,000 | 201,580,915 | ||||||
5.00%, 4/1/497 | 8,300,000 | 8,777,088 | ||||||
Federal National Mortgage Assn. Grantor Trust, Interest-Only Stripped Mtg.-Backed Security: |
|
|||||||
Series 2001-T10, Cl. IO, 99.999%, 12/25/415 | 27,194,467 | 316,486 | ||||||
Series 2001-T3, Cl. IO, 99.999%, 11/25/405 | 4,624,489 | 48,552 | ||||||
Federal National Mortgage Assn. Pool: | ||||||||
4.50%, 12/1/20 | 46,360 | 47,189 | ||||||
5.00%, 7/1/19-12/1/21 | 8,894 | 9,100 | ||||||
5.50%, 1/1/22-5/1/36 | 361,127 | 391,436 | ||||||
6.50%, 12/1/29-1/1/34 | 2,005,377 | 2,236,605 | ||||||
7.00%, 9/1/21-4/1/34 | 3,265,203 | 3,730,106 | ||||||
7.50%, 2/1/27-3/1/33 | 1,650,523 | 1,906,882 | ||||||
8.50%, 7/1/32 | 5,405 | 5,466 | ||||||
9.50%, 3/15/21 | 2,674 | 2,701 | ||||||
Federal National Mortgage Assn., Interest-Only Stripped Mtg.-Backed Security: |
|
|||||||
Series 221, Cl. 2, 99.999%, 5/25/235 | 73,063 | 8,033 | ||||||
Series 247, Cl. 2, 99.999%, 10/25/235 | 35,938 | 3,974 | ||||||
Series 252, Cl. 2, 99.999%, 11/25/235 | 8,644 | 1,032 | ||||||
Series 254, Cl. 2, 99.999%, 1/25/245 | 27,318 | 3,474 | ||||||
Series 301, Cl. 2, 21.231%, 4/25/295 | 106,492 | 21,336 | ||||||
Series 303, Cl. IO, 96.832%, 11/25/295 | 112,287 | 25,370 | ||||||
Series 313, Cl. 2, 28.207%, 6/25/315 | 928,308 | 205,990 | ||||||
Series 319, Cl. 2, 99.999%, 2/25/325 | 305,433 | 67,450 | ||||||
Series 321, Cl. 2, 29.861%, 4/25/325 | 563,354 | 130,169 | ||||||
Series 324, Cl. 2, 0.00%, 7/25/325,6 | 230,360 | 52,731 |
13 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
FHLMC/FNMA/FHLB/Sponsored (Continued) | ||||||||
Federal National Mortgage Assn., Interest-Only Stripped Mtg.-Backed Security: (Continued) |
|
|||||||
Series 328, Cl. 2, 0.00%, 12/25/325,6 | $ | 202,828 | $ | 45,743 | ||||
Series 331, Cl. 5, 99.999%, 2/25/335 | 468,190 | 89,798 | ||||||
Series 332, Cl. 2, 0.00%, 3/25/335,6 | 929,490 | 211,123 | ||||||
Series 334, Cl. 10, 12.791%, 2/25/335 | 382,666 | 83,727 | ||||||
Series 334, Cl. 12, 99.999%, 3/25/335 | 553,940 | 117,566 | ||||||
Series 339, Cl. 7, 0.00%, 11/25/335,6 | 1,125,707 | 245,847 | ||||||
Series 345, Cl. 9, 0.00%, 1/25/345,6 | 335,545 | 70,623 | ||||||
Series 351, Cl. 10, 0.00%, 4/25/345,6 | 142,315 | 31,984 | ||||||
Series 351, Cl. 8, 0.00%, 4/25/345,6 | 261,491 | 58,697 | ||||||
Series 356, Cl. 10, 0.00%, 6/25/355,6 | 182,794 | 37,335 | ||||||
Series 356, Cl. 12, 0.00%, 2/25/355,6 | 88,546 | 18,286 | ||||||
Series 362, Cl. 13, 0.00%, 8/25/355,6 | 12,952 | 2,896 | ||||||
Federal National Mortgage Assn., Real Estate Mtg. Investment Conduit Multiclass Pass-Through Certificates: |
| |||||||
Series 1996-35, Cl. Z, 7.00%, 7/25/26 | 26,358 | 28,588 | ||||||
Series 1997-45, Cl. CD, 8.00%, 7/18/27 | 290,896 | 329,950 | ||||||
Series 1998-58, Cl. PC, 6.50%, 10/25/28 | 167,818 | 183,910 | ||||||
Series 1999-14, Cl. MB, 6.50%, 4/25/29 | 9,185 | 9,995 | ||||||
Series 1999-54, Cl. LH, 6.50%, 11/25/29 | 333,316 | 365,334 | ||||||
Series 2001-19, Cl. Z, 6.00%, 5/25/31 | 129,623 | 140,126 | ||||||
Series 2001-65, Cl. F, 3.086% [LIBOR01M+60], 11/25/312 | 228,719 | 231,264 | ||||||
Series 2001-80, Cl. ZB, 6.00%, 1/25/32 | 253,519 | 274,187 | ||||||
Series 2002-21, Cl. PE, 6.50%, 4/25/32 | 308,096 | 344,695 | ||||||
Series 2002-29, Cl. F, 3.486% [LIBOR01M+100], 4/25/322 | 126,402 | 129,894 | ||||||
Series 2002-64, Cl. FJ, 3.486% [LIBOR01M+100], 4/25/322 | 38,851 | 39,924 | ||||||
Series 2002-68, Cl. FH, 2.982% [LIBOR01M+50], 10/18/322 | 80,551 | 81,134 | ||||||
Series 2002-81, Cl. FM, 2.986% [LIBOR01M+50], 12/25/322 | 150,668 | 151,822 | ||||||
Series 2002-84, Cl. FB, 3.486% [LIBOR01M+100], 12/25/322 | 25,026 | 25,714 | ||||||
Series 2003-11, Cl. FA, 3.486% [LIBOR01M+100], 9/25/322 | 34,151 | 35,090 | ||||||
Series 2003-116, Cl. FA, 2.886% [LIBOR01M+40], 11/25/332 | 82,159 | 82,433 | ||||||
Series 2005-31, Cl. PB, 5.50%, 4/25/35 | 2,865,000 | 3,157,668 | ||||||
Series 2005-71, Cl. DB, 4.50%, 8/25/25 | 483,574 | 490,831 | ||||||
Series 2006-11, Cl. PS, 15.453% [-3.667 x | ||||||||
LIBOR01M+2,456.67], 3/25/362 | 273,535 | 403,825 | ||||||
Series 2006-46, Cl. SW, 15.086% [-3.667 x | ||||||||
LIBOR01M+2,419.92], 6/25/362 | 361,299 | 516,334 | ||||||
Series 2008-75, Cl. DB, 4.50%, 9/25/23 | 12 | 12 | ||||||
Series 2009-113, Cl. DB, 3.00%, 12/25/20 | 12,048 | 12,000 | ||||||
Series 2009-36, Cl. FA, 3.426% [LIBOR01M+94], 6/25/372 | 137,572 | 141,017 | ||||||
Series 2009-70, Cl. TL, 4.00%, 8/25/19 | 158 | 158 | ||||||
Series 2010-43, Cl. KG, 3.00%, 1/25/21 | 7,904 | 7,895 | ||||||
Series 2011-122, Cl. EC, 1.50%, 1/25/20 | 9,619 | 9,553 | ||||||
Series 2011-15, Cl. DA, 4.00%, 3/25/41 | 148,387 | 151,437 | ||||||
Series 2011-3, Cl. EL, 3.00%, 5/25/20 | 9,730 | 9,695 | ||||||
Series 2011-3, Cl. KA, 5.00%, 4/25/40 | 542,967 | 568,402 | ||||||
Series 2011-38, Cl. AH, 2.75%, 5/25/20 | 3 | 3 | ||||||
Series 2011-6, Cl. BA, 2.75%, 6/25/20 | 5,763 | 5,783 | ||||||
Series 2011-82, Cl. AD, 4.00%, 8/25/26 | 37,824 | 37,840 | ||||||
Series 2012-20, Cl. FD, 2.886% [LIBOR01M+40], 3/25/422 | 864,067 | 865,084 |
14 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
FHLMC/FNMA/FHLB/Sponsored (Continued) | ||||||||
Federal National Mortgage Assn., Real Estate Mtg. Investment Conduit Multiclass Pass-Through Certificates, Interest-Only Stripped Mtg.-Backed Security: |
| |||||||
Series 2001-61, Cl. SH, 39.806%, 11/18/315 | $ | 259,608 | $ | 43,928 | ||||
Series 2001-63, Cl. SD, 33.782%, 12/18/315 | 7,256 | 1,111 | ||||||
Series 2001-68, Cl. SC, 99.999%, 11/25/315 | 5,311 | 985 | ||||||
Series 2001-81, Cl. S, 47.046%, 1/25/325 | 70,962 | 12,436 | ||||||
Series 2002-28, Cl. SA, 34.893%, 4/25/325 | 63,094 | 11,229 | ||||||
Series 2002-38, Cl. SO, 79.068%, 4/25/325 | 77,623 | 13,209 | ||||||
Series 2002-39, Cl. SD, 54.274%, 3/18/325 | 120,770 | 22,965 | ||||||
Series 2002-48, Cl. S, 40.012%, 7/25/325 | 92,186 | 17,713 | ||||||
Series 2002-52, Cl. SL, 31.87%, 9/25/325 | 60,149 | 11,094 | ||||||
Series 2002-53, Cl. SK, 67.455%, 4/25/325 | 75,282 | 14,637 | ||||||
Series 2002-56, Cl. SN, 41.094%, 7/25/325 | 126,429 | 24,293 | ||||||
Series 2002-65, Cl. SC, 51.482%, 6/25/265 | 219,471 | 26,024 | ||||||
Series 2002-77, Cl. IS, 54.125%, 12/18/325 | 132,246 | 26,003 | ||||||
Series 2002-77, Cl. SH, 39.667%, 12/18/325 | 93,104 | 15,426 | ||||||
Series 2002-89, Cl. S, 32.689%, 1/25/335 | 640,497 | 126,005 | ||||||
Series 2002-9, Cl. MS, 31.092%, 3/25/325 | 100,767 | 19,297 | ||||||
Series 2003-13, Cl. IO, 57.118%, 3/25/335 | 556,634 | 129,864 | ||||||
Series 2003-26, Cl. DI, 59.786%, 4/25/335 | 348,618 | 88,516 | ||||||
Series 2003-26, Cl. IK, 68.126%, 4/25/335 | 61,094 | 13,571 | ||||||
Series 2003-33, Cl. SP, 99.999%, 5/25/335 | 305,956 | 59,665 | ||||||
Series 2003-4, Cl. S, 22.808%, 2/25/335 | 146,217 | 29,195 | ||||||
Series 2003-46, Cl. IH, 0.00%, 6/25/235,6 | 36,010 | 2,887 | ||||||
Series 2004-56, Cl. SE, 10.505%, 10/25/335 | 334,283 | 62,504 | ||||||
Series 2005-12, Cl. SC, 25.428%, 3/25/355 | 26,535 | 3,991 | ||||||
Series 2005-14, Cl. SE, 39.338%, 3/25/355 | 211,572 | 27,493 | ||||||
Series 2005-40, Cl. SA, 99.999%, 5/25/355 | 1,251,099 | 200,324 | ||||||
Series 2005-40, Cl. SB, 99.999%, 5/25/355 | 558,419 | 70,298 | ||||||
Series 2005-52, Cl. JH, 26.083%, 5/25/355 | 669,562 | 100,595 | ||||||
Series 2006-90, Cl. SX, 99.999%, 9/25/365 | 1,326,508 | 232,225 | ||||||
Series 2007-88, Cl. XI, 0.00%, 6/25/375,6 | 1,949,501 | 316,153 | ||||||
Series 2008-55, Cl. SA, 0.00%, 7/25/385,6 | 106,695 | 12,902 | ||||||
Series 2009-8, Cl. BS, 0.00%, 2/25/245,6 | 3,418 | 179 | ||||||
Series 2010-95, Cl. DI, 0.00%, 11/25/205,6 | 25,573 | 266 | ||||||
Series 2011-96, Cl. SA, 5.109%, 10/25/415 | 333,696 | 53,217 | ||||||
Series 2012-134, Cl. SA, 0.00%, 12/25/425,6 | 1,046,787 | 197,875 | ||||||
Series 2012-40, Cl. PI, 24.706%, 4/25/415 | 2,579,303 | 320,642 | ||||||
Federal National Mortgage Assn., Stripped Mtg.-Backed Security, Series 302, Cl. 2, 6.00%, 5/1/29 | 2,586 | 454 | ||||||
Vendee Mortgage Trust, Interest-Only Stripped Mtg.-Backed Security: | ||||||||
Series 1992-2, Cl. IO, 0.00%, 9/15/225,6 | 1,472,054 | 10 | ||||||
Series 1995-2B, Cl. 2IO, 0.00%, 6/15/255,6 | 189,040 | 3,024 | ||||||
Series 1995-3, Cl. 1IO, 0.00%, 9/15/255,6 | 5,950,493 | 1,892 | ||||||
406,678,546 | ||||||||
GNMA/Guaranteed0.9% | ||||||||
Government National Mortgage Assn. I Pool: | ||||||||
7.00%, 1/15/28-8/15/28 | 292,798 | 306,763 |
15 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
GNMA/Guaranteed (Continued) | ||||||||
Government National Mortgage Assn. I Pool: (Continued) | ||||||||
8.00%, 1/15/28-9/15/28 | $ | 217,267 | $ | 228,551 | ||||
Government National Mortgage Assn. II Pool: | ||||||||
3.50%, 4/1/497 | 29,940,000 | 30,601,955 | ||||||
3.75% [H15T1Y+150], 7/20/272 | 2,006 | 2,074 | ||||||
7.00%, 1/20/30 | 46,421 | 53,300 | ||||||
11.00%, 10/20/19 | 5 | 5 | ||||||
Government National Mortgage Assn., Interest-Only Stripped Mtg.-Backed Security: | ||||||||
Series 2007-17, Cl. AI, 35.349%, 4/16/375 | 894,899 | 131,035 | ||||||
Series 2011-52, Cl. HS, 16.353%, 4/16/415 | 1,593,719 | 233,273 | ||||||
31,556,956 | ||||||||
Non-Agency8.7% | ||||||||
Commercial3.6% | ||||||||
BCAP LLC Trust: | ||||||||
Series 2011-R11, Cl. 18A5, 4.69% [H15T1Y+210], 9/26/351,2 | 22,193 | 22,288 | ||||||
Series 2012-RR6, Cl. RR6, 2.054%, 11/26/361 | 6,069 | 6,079 | ||||||
Benchmark Mortgage Trust, Interest-Only Commercial Mtg. Pass-Through Certificates, Series 2018-B1, Cl. XA, 10.646%, 1/15/515 | 13,216,147 | 484,833 | ||||||
Capital Lease Funding Securitization LP, Interest-Only Commercial Mtg. Pass-Through Certificates, Series 1997-CTL1, Cl. IO, 0.00%, 6/22/241,5,6,8 | 55,524 | 1,004 | ||||||
CD Mortgage Trust, Interest-Only Commercial Mtg. Pass-Through Certificates, Series 2017-CD6, Cl. XA, 12.622%, 11/13/505 | 5,500,516 | 315,359 | ||||||
Citigroup Commercial Mortgage Trust: | ||||||||
Series 2012-GC8, Cl. AAB, 2.608%, 9/10/45 | 599,440 | 597,526 | ||||||
Series 2014-GC21, Cl. AAB, 3.477%, 5/10/47 | 710,000 | 722,866 | ||||||
Citigroup Commercial Mortgage Trust, Interest-Only Commercial Mtg. Pass-Through Certificates, Series 2017-C4, Cl. XA, 11.938%, 10/12/505 | 15,487,787 | 1,063,260 | ||||||
COMM Mortgage Trust: | ||||||||
Series 2013-CR6, Cl. AM, 3.147%, 3/10/461 | 2,825,000 | 2,832,338 | ||||||
Series 2014-CR17, Cl. ASB, 3.598%, 5/10/47 | 1,750,000 | 1,785,998 | ||||||
Series 2014-CR20, Cl. ASB, 3.305%, 11/10/47 | 475,000 | 482,511 | ||||||
Series 2014-CR21, Cl. AM, 3.987%, 12/10/47 | 70,000 | 72,070 | ||||||
Series 2014-LC15, Cl. AM, 4.198%, 4/10/47 | 690,000 | 718,783 | ||||||
Series 2014-UBS6, Cl. AM, 4.048%, 12/10/47 | 4,690,000 | 4,793,906 | ||||||
Series 2015-CR22, Cl. A2, 2.856%, 3/10/48 | 800,776 | 800,161 | ||||||
COMM Mortgage Trust, Interest-Only Stripped Mtg.-Backed Security, Series 2012-CR5, Cl. XA, 20.604%, 12/10/455 | 7,110,828 | 335,898 | ||||||
Deutsche Mortgage Securities, Inc., Series 2013-RS1, Cl. 1A2, 2.708% [US0001M+22], 7/22/361,2 | 844,694 | 827,667 | ||||||
FREMF Mortgage Trust: | ||||||||
Series 2012-K20, Cl. C, 3.871%, 5/25/451,9 | 12,875,000 | 13,084,747 | ||||||
Series 2013-K25, Cl. C, 3.623%, 11/25/451,9 | 1,975,000 | 1,987,716 | ||||||
Series 2013-K26, Cl. C, 3.598%, 12/25/451,9 | 335,000 | 336,987 | ||||||
Series 2013-K27, Cl. C, 3.496%, 1/25/461,9 | 4,187,000 | 4,198,811 | ||||||
Series 2013-K28, Cl. C, 3.49%, 6/25/461,9 | 7,865,000 | 7,889,746 | ||||||
Series 2013-K29, Cl. C, 3.481%, 5/25/461,9 | 4,700,000 | 4,710,081 | ||||||
Series 2013-K713, Cl. C, 3.155%, 4/25/461,9 | 420,000 | 419,200 | ||||||
Series 2014-K714, Cl. C, 3.855%, 1/25/471,9 | 200,000 | 202,012 |
16 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Commercial (Continued) | ||||||||
FREMF Mortgage Trust: (Continued) | ||||||||
Series 2014-K715, Cl. C, 4.122%, 2/25/461,9 | $ | 25,000 | $ | 25,311 | ||||
Series 2015-K44, Cl. B, 3.683%, 1/25/481,9 | 7,345,000 | 7,429,913 | ||||||
Series 2015-K45, Cl. B, 3.591%, 4/25/481,9 | 13,050,000 | 13,106,050 | ||||||
Series 2017-K62, Cl. B, 3.875%, 1/25/501,9 | 840,000 | 847,397 | ||||||
Series 2017-K724, Cl. B, 3.487%, 11/25/231,9 | 4,465,000 | 4,418,118 | ||||||
GS Mortgage Securities Trust: | ||||||||
Series 2013-GC12, Cl. AAB, 2.678%, 6/10/46 | 210,839 | 209,882 | ||||||
Series 2013-GC16, Cl. AS, 4.649%, 11/10/46 | 390,000 | 416,368 | ||||||
Series 2014-GC18, Cl. AAB, 3.648%, 1/10/47 | 598,987 | 609,540 | ||||||
JP Morgan Chase Commercial Mortgage Securities Trust: | ||||||||
Series 2012-LC9, Cl. A4, 2.611%, 12/15/47 | 76,378 | 76,306 | ||||||
Series 2013-C10, Cl. AS, 3.372%, 12/15/47 | 2,345,000 | 2,368,295 | ||||||
Series 2013-C16, Cl. AS, 4.517%, 12/15/46 | 2,395,000 | 2,534,338 | ||||||
Series 2013-LC11, Cl. AS, 3.216%, 4/15/46 | 425,000 | 426,338 | ||||||
Series 2014-C20, Cl. AS, 4.043%, 7/15/47 | 1,685,000 | 1,749,512 | ||||||
Series 2016-JP3, Cl. A2, 2.435%, 8/15/49 | 1,395,465 | 1,382,859 | ||||||
JP Morgan Mortgage Trust, Series 2007-A1, Cl. 5A1, 4.687%, 7/25/359 | 156,718 | 161,529 | ||||||
JP Morgan Resecuritization Trust, Series 2009-5, Cl. 1A2, 4.542%, 7/26/361,9 | 7,581,819 | 7,591,160 | ||||||
JPMBB Commercial Mortgage Securities Trust: | ||||||||
Series 2014-C18, Cl. A3, 3.578%, 2/15/47 | 447,904 | 452,130 | ||||||
Series 2014-C19, Cl. ASB, 3.584%, 4/15/47 | 280,376 | 285,587 | ||||||
Series 2014-C24, Cl. B, 4.116%, 11/15/479 | 1,655,000 | 1,694,301 | ||||||
Series 2014-C25, Cl. AS, 4.065%, 11/15/47 | 2,980,000 | 3,091,238 | ||||||
Lehman Structured Securities Corp., Series 2002-GE1, Cl. A, 0.00%, 7/26/241,8,9 | 42,188 | 29,328 | ||||||
Morgan Stanley Bank of America Merrill Lynch Trust: | ||||||||
Series 2013-C7, Cl. AAB, 2.469%, 2/15/46 | 589,314 | 586,224 | ||||||
Series 2013-C9, Cl. AS, 3.456%, 5/15/46 | 1,565,000 | 1,587,590 | ||||||
Series 2014-C14, Cl. B, 4.764%, 2/15/479 | 680,000 | 722,285 | ||||||
Morgan Stanley Capital I, Inc., Interest-Only Commercial Mtg. Pass-Through Certificates, Series 2017-HR2, Cl. XA, 10.363%, 12/15/505 | 4,986,746 | 277,326 | ||||||
Morgan Stanley Re-Remic Trust: | ||||||||
Series 2012-R3, Cl. 1A, 3.644%, 11/26/361,9 | 114,222 | 114,059 | ||||||
Series 2012-R3, Cl. 1B, 3.644%, 11/26/361,9 | 12,305,853 | 11,457,825 | ||||||
Morgan Stanley Resecuritization Trust, Series 2013-R9, Cl. 3A, 3.912%, 6/26/461,9 | 52,824 | 52,924 | ||||||
Structured Adjustable Rate Mortgage Loan Trust, Series 2004-10, Cl. 2A, 4.493%, 8/25/349 | 6,111,000 | 6,143,057 | ||||||
UBS Commercial Mortgage Trust, Interest-Only Commercial Mtg. Pass-Through Certificates, Series 2017-C5, Cl. XA, 12.272%, 11/15/505 | 9,762,733 | 601,400 | ||||||
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS1, Cl. ASB, 2.934%, 5/15/48 | 2,300,000 | 2,304,141 | ||||||
Wells Fargo Commercial Mortgage Trust, Interest-Only Commercial Mtg. Pass-Through Certificates, Series 2017-C42, Cl. XA, 10.338%, 12/15/505 | 6,556,087 | 416,064 | ||||||
WF-RBS Commercial Mortgage Trust: | ||||||||
Series 2013-C14, Cl. AS, 3.488%, 6/15/46 | 1,800,000 | 1,818,323 | ||||||
Series 2014-C20, Cl. AS, 4.176%, 5/15/47 | 1,455,000 | 1,509,711 |
17 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Commercial (Continued) | ||||||||
WF-RBS Commercial Mortgage Trust: (Continued) | ||||||||
Series 2014-C22, Cl. A3, 3.528%, 9/15/57 | $ | 320,000 | $ | 325,057 | ||||
Series 2014-LC14, Cl. AS, 4.351%, 3/15/479 | 1,135,000 | 1,191,505 | ||||||
WF-RBS Commercial Mortgage Trust, Interest-Only Commercial Mtg. Pass-Through Certificates, Series 2011-C3, Cl. XA, 25.227%, 3/15/441,5 | 12,450,235 | 269,228 | ||||||
126,974,066 | ||||||||
Multi-Family0.1% | ||||||||
Connecticut Avenue Securities, Series 2017-C04, Cl. 2M1, 3.336% [US0001M+85], 11/25/292 | 1,337,536 | 1,339,447 | ||||||
Residential5.0% | ||||||||
Alba plc, Series 2007-1, Cl. F, 4.096% [BP0003M+325], 3/17/392,4 | 1,351,855 | 1,693,204 | ||||||
Bear Stearns ARM Trust, Series 2006-1, Cl. A1, 4.91% [H15T1Y+225], 2/25/362 | 44,760 | 45,261 | ||||||
Chase Funding Trust, Series 2003-2, Cl. 2A2, 3.046% [US0001M+56], 2/25/332 | 15,989 | 15,554 | ||||||
CHL Mortgage Pass-Through Trust: | ||||||||
Series 2005-17, Cl. 1A8, 5.50%, 9/25/35 | 1,267,615 | 1,256,673 | ||||||
Series 2005-J4, Cl. A7, 5.50%, 11/25/35 | 1,186,884 | 1,185,010 | ||||||
Citigroup Mortgage Loan Trust, Inc.: | ||||||||
Series 2005-2, Cl. 1A3, 4.893%, 5/25/359 | 1,337,157 | 1,351,987 | ||||||
Series 2006-AR1, Cl. 1A1, 4.97% [H15T1Y+240], 10/25/352 | 375,609 | 381,226 | ||||||
Series 2009-8, Cl. 7A2, 4.954%, 3/25/361,9 | 17,133,098 | 17,133,841 | ||||||
Series 2014-8, Cl. 1A2, 2.778% [US0001M+29], 7/20/361,2 | 1,635,000 | 1,612,673 | ||||||
Connecticut Avenue Securities: | ||||||||
Series 2014-C03, Cl. 1M2, 5.486% [US0001M+300], 7/25/242 | 2,151,291 | 2,285,625 | ||||||
Series 2016-C03, Cl. 1M1, 4.486% [US0001M+200], 10/25/282 | 323,271 | 325,804 | ||||||
Series 2017-C01, Cl. 1M2, 6.036% [US0001M+355], 7/25/292 | 11,610,000 | 12,483,444 | ||||||
Series 2017-C02, Cl. 2M1, 3.636% [US0001M+115], 9/25/292 | 2,227,605 | 2,234,595 | ||||||
Series 2017-C03, Cl. 1M1, 3.436% [US0001M+95], 10/25/292 | 2,322,164 | 2,327,063 | ||||||
Series 2017-C06, Cl. 1M1, 3.236% [US0001M+75], 2/25/302 | 305,202 | 305,313 | ||||||
Series 2017-C07, Cl. 1M1, 3.136% [US0001M+65], 5/25/302 | 1,346,344 | 1,345,430 | ||||||
Series 2017-C07, Cl. 1M2, 4.886% [US0001M+240], 5/25/302 | 1,540,000 | 1,574,353 | ||||||
Series 2018-C01, Cl. 1M1, 3.086% [US0001M+60], 7/25/302 | 1,936,521 | 1,932,833 | ||||||
Series 2018-C02, Cl. 2M1, 3.136% [US0001M+65], 8/25/302 | 553,968 | 553,846 | ||||||
Series 2018-C06, Cl. 2M2, 4.586% [US0001M+210], 3/25/312 | 6,720,000 | 6,643,564 | ||||||
CWHEQ Revolving Home Equity Loan Trust: | ||||||||
Series 2005-G, Cl. 2A, 2.714% [US0001M+23], 12/15/352 | 54,402 | 53,770 | ||||||
Series 2006-H, Cl. 2A1A, 2.634% [US0001M+15], 11/15/362 | 45,974 | 35,400 | ||||||
GSR Mortgage Loan Trust, Series 2005-AR4, Cl. 6A1, 4.329%, 7/25/359 | 218,864 | 221,097 |
18 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Residential (Continued) | ||||||||
HomeBanc Mortgage Trust, Series 2005-3, Cl. A2, 2.796% [US0001M+31], 7/25/352 | $ | 39,318 | $ | 39,161 | ||||
Marble Arch Residential Securitisation No 4 plc, Series 4X, Cl. E1C, 4.74% [BP0003M+390], 3/20/402,4 | 4,220,000 | 5,346,393 | ||||||
MASTR Asset Backed Securities Trust, Series 2006-WMC3, Cl. A3, 2.586% [US0001M+10], 8/25/362 | 3,691,905 | 1,784,987 | ||||||
RALI Trust, Series 2006-QS13, Cl. 1A8, 6.00%, 9/25/36 | 52,160 | 46,380 | ||||||
Residential Asset Securitization Trust, Series 2005-A6CB, Cl. A7, 6.00%, 6/25/35 | 4,458,710 | 4,096,095 | ||||||
Structured Agency Credit Risk Debt Nts.: | ||||||||
Series 2013-DN2, Cl. M2, 6.736% [US0001M+425], 11/25/232 | 2,238,494 | 2,446,567 | ||||||
Series 2014-DN1, Cl. M3, 6.986% [US0001M+450], 2/25/242 | 2,085,000 | 2,325,497 | ||||||
Series 2014-DN2, Cl. M3, 6.086% [US0001M+360], 4/25/242 | 2,160,000 | 2,334,413 | ||||||
Series 2014-HQ2, Cl. M3, 6.236% [US0001M+375], 9/25/242 | 2,495,000 | 2,763,126 | ||||||
Series 2015-HQA2, Cl. M2, 5.286% [US0001M+280], 5/25/282 | 616,680 | 629,111 | ||||||
Series 2016-DNA1, Cl. M2, 5.39% [US0001M+290], 7/25/282 | 825,464 | 840,050 | ||||||
Series 2016-DNA3, Cl. M3, 7.486% [US0001M+500], 12/25/282 | 7,155,000 | 8,119,955 | ||||||
Series 2016-DNA4, Cl. M3, 6.286% [US0001M+380], 3/25/292 | 13,920,000 | 15,315,886 | ||||||
Series 2016-HQA3, Cl. M1, 3.286% [US0001M+80], 3/25/292 | 144,820 | 144,825 | ||||||
Series 2016-HQA3, Cl. M3, 6.336% [US0001M+385], 3/25/292 | 9,805,000 | 10,831,584 | ||||||
Series 2016-HQA4, Cl. M3, 6.386% [US0001M+390], 4/25/292 | 9,480,000 | 10,479,080 | ||||||
Series 2017-DNA1, Cl. M2, 5.736% [US0001M+325], 7/25/292 | 5,390,000 | 5,790,353 | ||||||
Series 2017-HQA1, Cl. M1, 3.686% [US0001M+120], 8/25/292 | 3,312,664 | 3,322,000 | ||||||
Series 2017-HQA2, Cl. M1, 3.286% [US0001M+80], 12/25/292 | 1,009,459 | 1,010,088 | ||||||
Series 2017-HQA3, Cl. M1, 3.036% [US0001M+55], 4/25/302 | 1,786,112 | 1,783,867 | ||||||
Series 2018-DNA1, Cl. M1, 2.936% [US0001M+45], 7/25/302 | 3,286,838 | 3,273,102 | ||||||
Series 2018-DNA1, Cl. M2, 4.286% [US0001M+180], 7/25/302 | 3,110,000 | 3,040,762 | ||||||
Towd Point Mortgage Funding 2019-Granite4 plc: | ||||||||
2.23%, 10/20/517 | 7,080,000 | 9,225,034 | ||||||
2.58%, 10/20/517 | 10,600,000 | 13,811,492 | ||||||
WaMu Mortgage Pass-Through Certificates Trust, Series 2003-AR10, Cl. A7, 4.481%, 10/25/339 | 87,151 | 88,709 |
19 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||
Residential (Continued) | ||||||||||
Wells Fargo Mortgage-Backed Securities Trust: | ||||||||||
Series 2005-AR1, Cl. 1A1, 5.083%, 2/25/359 | $ | 1,655,082 | $ | 1,708,114 | ||||||
Series 2005-AR15, Cl. 1A2, 4.667%, 9/25/359 | 382,815 | 375,088 | ||||||||
Series 2005-AR15, Cl. 1A6, 4.667%, 9/25/359 | 3,786,283 | 3,677,738 | ||||||||
Series 2005-AR4, Cl. 2A2, 5.086%, 4/25/359 | 98,367 | 99,595 | ||||||||
Series 2006-AR10, Cl. 1A1, 4.704%, 7/25/369 | 342,461 | 344,856 | ||||||||
Series 2006-AR10, Cl. 5A5, 4.542%, 7/25/369 | 655,539 | 658,815 | ||||||||
Series 2006-AR2, Cl. 2A3, 4.954%, 3/25/369 | 2,224,670 | 2,264,673 | ||||||||
Series 2006-AR7, Cl. 2A4, 4.42%, 5/25/369 | 1,623,785 | 1,670,531 | ||||||||
176,685,493 | ||||||||||
Total Mortgage-Backed Obligations (Cost $726,790,318) | 743,234,508 | |||||||||
U.S. Government Obligations6.8% | ||||||||||
United States Treasury Inflation-Protected Securities: | ||||||||||
1.00%, 2/15/46-2/15/4910,11 | 232,924,399 | 239,024,756 | ||||||||
Total U.S. Government Obligations (Cost $231,466,469) | 239,024,756 | |||||||||
Foreign Government Obligations23.4% | ||||||||||
Angola0.1% | ||||||||||
Republic of Angola, 9.375% Sr. Unsec. Nts., 5/8/481 | 4,415,000 | 4,785,419 | ||||||||
Argentina2.2% | ||||||||||
Argentine Republic: | ||||||||||
0.00% Unsec. Nts., 4/30/2012 | ARS | 627,300,000 | 15,894,719 | |||||||
0.236% Unsec. Nts., 7/31/2012 | ARS | 1,548,358,176 | 34,401,651 | |||||||
4.625% Sr. Unsec. Nts., 1/11/23 | 1,285,000 | 1,055,627 | ||||||||
5.875% Sr. Unsec. Nts., 1/11/28 | 5,190,000 | 3,996,949 | ||||||||
6.875% Sr. Unsec. Nts., 1/26/27 | 6,340,000 | 5,148,873 | ||||||||
6.875% Sr. Unsec. Nts., 1/11/48 | 4,465,000 | 3,298,519 | ||||||||
7.50% Sr. Unsec. Nts., 4/22/26 | 16,340,000 | 13,907,382 | ||||||||
18.20% Unsec. Nts., 10/3/21 | ARS | 25,715,000 | 420,921 | |||||||
78,124,641 | ||||||||||
Brazil1.8% | ||||||||||
Federative Republic of Brazil: | ||||||||||
10.00% Unsec. Nts., 1/1/21 | BRL | 32,000,000 | 8,530,594 | |||||||
10.00% Unsec. Nts., 1/1/25 | BRL | 72,700,000 | 19,693,833 | |||||||
10.00% Unsec. Nts., 1/1/27 | BRL | 75,000,000 | 20,306,644 | |||||||
10.00% Unsec. Nts., 1/1/29 | BRL | 10,500,000 | 2,859,936 | |||||||
13.288% Unsec. Nts., 8/15/50 | BRL | 2,100,000 | 2,117,301 | |||||||
18.447% Unsec. Nts., 5/15/4511 | BRL | 10,550,000 | 10,427,319 | |||||||
63,935,627 | ||||||||||
Colombia0.8% | ||||||||||
Republic of Colombia: | ||||||||||
6.125% Sr. Unsec. Nts., 1/18/41 | 4,135,000 | 4,895,881 | ||||||||
Series B, 6.25% Bonds, 11/26/25 | COP | 21,300,000,000 | 6,774,399 | |||||||
Series B, 7.50% Bonds, 8/26/26 | COP | 30,170,000,000 | 10,236,127 |
20 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||||
Colombia (Continued) | ||||||||||||
Republic of Colombia: (Continued) | ||||||||||||
Series B, 10.00% Bonds, 7/24/24 | COP | 14,854,000,000 | $ | 5,560,147 | ||||||||
27,466,554 | ||||||||||||
Dominican Republic0.3% | ||||||||||||
Dominican Republic: | ||||||||||||
5.95% Sr. Unsec. Nts., 1/25/271 | 6,950,000 | 7,314,875 | ||||||||||
6.85% Sr. Unsec. Nts., 1/27/451 | 2,400,000 | 2,577,000 | ||||||||||
9,891,875 | ||||||||||||
Ecuador0.3% | ||||||||||||
Republic of Ecuador: | ||||||||||||
8.875% Sr. Unsec. Nts., 10/23/271 | 8,055,000 | 8,085,206 | ||||||||||
9.65% Sr. Unsec. Nts., 12/13/261 | 2,470,000 | 2,596,588 | ||||||||||
10,681,794 | ||||||||||||
Egypt0.7% | ||||||||||||
Arab Republic of Egypt: | ||||||||||||
4.75% Sr. Unsec. Nts., 4/16/261 | EUR | 4,800,000 | 5,327,207 | |||||||||
6.125% Sr. Unsec. Nts., 1/31/221 | 2,405,000 | 2,438,278 | ||||||||||
8.50% Sr. Unsec. Nts., 1/31/471 | 3,570,000 | 3,653,142 | ||||||||||
8.70% Sr. Unsec. Nts., 3/1/491 | 3,835,000 | 3,998,118 | ||||||||||
18.15% Unsec. Nts., 12/11/21 | EGP | 90,000,000 | 5,376,427 | |||||||||
Series 3YR, 16.00% Unsec. Nts., 12/12/20 | EGP | 72,000,000 | 4,101,133 | |||||||||
24,894,305 | ||||||||||||
Fiji0.1% | ||||||||||||
Republic of Fiji, 6.625% Sr. Unsec. Nts., 10/2/204 | 3,726,000 | 3,734,600 | ||||||||||
France1.3% | ||||||||||||
French Republic, 4.00% Bonds, 10/25/384 | EUR | 26,750,000 | 46,721,867 | |||||||||
Gabon0.1% | ||||||||||||
Gabonese Republic, 6.375% Bonds, 12/12/241 | 4,105,000 | 3,943,953 | ||||||||||
Ghana0.3% | ||||||||||||
Republic of Ghana: | ||||||||||||
8.125% Sr. Unsec. Nts., 3/26/321 | 4,900,000 | 4,893,111 | ||||||||||
8.627% Sr. Unsec. Nts., 6/16/491 | 3,655,000 | 3,575,138 | ||||||||||
8.95% Sr. Unsec. Nts., 3/26/511 | 2,130,000 | 2,144,260 | ||||||||||
10,612,509 | ||||||||||||
Greece3.6% | ||||||||||||
Hellenic Republic: | ||||||||||||
Bonds, 10/15/429 | EUR | 76,770,000 | 303,992 | |||||||||
3.45% Sr. Unsec. Nts., 4/2/241,4 | EUR | 19,170,000 | 22,371,631 | |||||||||
3.875% Sr. Unsec. Nts., 3/12/291,4 | EUR | 30,075,000 | 34,151,423 | |||||||||
3.90% Bonds, 1/30/334 | EUR | 39,799,000 | 43,630,516 |
21 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||
Greece (Continued) | ||||||||||
Hellenic Republic: (Continued) 4.00% Bonds, 1/30/374 |
EUR | 24,800,000 | $ | 26,460,116 | ||||||
126,917,678 | ||||||||||
India1.6% | ||||||||||
Republic of India: | ||||||||||
7.17% Sr. Unsec. Nts., 1/8/28 | INR | 550,000,000 | 7,806,356 | |||||||
7.59% Sr. Unsec. Nts., 1/11/26 | INR | 1,400,000,000 | 20,547,574 | |||||||
7.72% Sr. Unsec. Nts., 5/25/25 | INR | 35,000,000 | 519,774 | |||||||
8.20% Sr. Unsec. Nts., 2/15/22 | INR | 850,000,000 | 12,748,540 | |||||||
8.20% Sr. Unsec. Nts., 9/24/25 | INR | 849,400,000 | 12,904,283 | |||||||
54,526,527 | ||||||||||
Indonesia1.9% | ||||||||||
Perusahaan Penerbit SBSN Indonesia III: | ||||||||||
4.35% Sr. Unsec. Nts., 9/10/241 | 1,330,000 | 1,377,548 | ||||||||
4.55% Sr. Unsec. Nts., 3/29/261 | 2,005,000 | 2,087,706 | ||||||||
Republic of Indonesia: | ||||||||||
3.85% Sr. Unsec. Nts., 7/18/271 | 1,075,000 | 1,076,148 | ||||||||
4.125% Sr. Unsec. Nts., 1/15/251 | 1,260,000 | 1,294,462 | ||||||||
8.125% Sr. Unsec. Nts., 5/15/24 | IDR | 179,000,000,000 | 13,125,741 | |||||||
Series FR53, 8.25% Sr. Unsec. Nts., 7/15/21 | IDR | 82,000,000,000 | 5,949,664 | |||||||
Series FR56, 8.375% Sr. Unsec. Nts., 9/15/26 | IDR | 260,905,000,000 | 19,270,143 | |||||||
Series FR59, 7.00% Sr. Unsec. Nts., 5/15/27 | IDR | 20,000,000,000 | 1,355,407 | |||||||
Series FR74, 7.50% Sr. Unsec. Nts., 8/15/32 | IDR | 287,520,000,000 | 19,385,188 | |||||||
64,922,007 | ||||||||||
Iraq0.1% | ||||||||||
Republic of Iraq: | ||||||||||
5.80% Sr. Unsec. Nts., 1/15/281 | 1,520,000 | 1,463,320 | ||||||||
6.752% Sr. Unsec. Nts., 3/9/231 | 2,115,000 | 2,148,688 | ||||||||
3,612,008 | ||||||||||
Ivory Coast0.3% | ||||||||||
Republic of Cote dIvoire, 5.25% Sr. Unsec. Nts., 3/22/301 | EUR | 8,950,000 | 9,639,130 | |||||||
Mexico2.8% | ||||||||||
United Mexican States: | ||||||||||
Series M, 5.75% Bonds, 3/5/26 | MXN | 172,455,000 | 7,856,952 | |||||||
Series M, 6.50% Bonds, 6/9/22 | MXN | 390,000,000 | 19,369,550 | |||||||
Series M, 8.00% Sr. Unsec. Nts., 12/7/23 | MXN | 740,000,000 | 38,408,593 | |||||||
Series M20, 8.50% Sr. Unsec. Nts., 5/31/29 | MXN | 613,300,000 | 32,506,061 | |||||||
98,141,156 | ||||||||||
Nigeria0.1% | ||||||||||
Federal Republic of Nigeria: | ||||||||||
7.143% Sr. Unsec. Nts., 2/23/301 | 1,650,000 | 1,653,867 |
22 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||
Nigeria (Continued) | ||||||||||
Federal Republic of Nigeria: (Continued) 7.696% Sr. Unsec. Nts., 2/23/381 |
$ | 1,465,000 | $ | 1,457,416 | ||||||
3,111,283 | ||||||||||
Oman0.2% | ||||||||||
Sultanate of Oman, 6.75% Sr. Unsec. Nts., 1/17/481 | 8,080,000 | 7,198,674 | ||||||||
Paraguay0.1% | ||||||||||
Republic of Paraguay, 5.40% Sr. Unsec. Nts., 3/30/501 | 1,270,000 | 1,334,294 | ||||||||
Russia0.2% | ||||||||||
Russian Federation: | ||||||||||
5.10% Sr. Unsec. Nts., 3/28/351,7 | 3,815,000 | 3,873,744 | ||||||||
Series 6209, 7.60% Bonds, 7/20/22 | RUB | 189,415,000 | 2,866,556 | |||||||
6,740,300 | ||||||||||
Saudi Arabia0.2% | ||||||||||
Kingdom of Saudi Arabia, 4.375% Sr. Unsec. Nts., 4/16/291 | 5,965,000 | 6,226,720 | ||||||||
Senegal0.1% | ||||||||||
Republic of Senegal: | ||||||||||
6.25% Unsec. Nts., 5/23/331 | 1,170,000 | 1,126,425 | ||||||||
6.75% Sr. Unsec. Nts., 3/13/481 | 2,075,000 | 1,920,412 | ||||||||
3,046,837 | ||||||||||
Serbia0.1% | ||||||||||
Republic of Serbia, 4.875% Sr. Unsec. Nts., 2/25/201 | 2,555,000 | 2,585,836 | ||||||||
South Africa2.2% | ||||||||||
Republic of South Africa: | ||||||||||
Series 2023, 7.75% Bonds, 2/28/23 | ZAR | 62,500,000 | 4,335,784 | |||||||
Series 2030, 8.00% Bonds, 1/31/30 | ZAR | 347,900,000 | 22,221,524 | |||||||
Series 2037, 8.50% Bonds, 1/31/37 | ZAR | 264,900,000 | 16,480,796 | |||||||
Series 2048, 8.75% Bonds, 2/28/48 | ZAR | 130,000,000 | 8,132,227 | |||||||
Series R186, 10.50% Bonds, 12/21/26 | ZAR | 317,825,000 | 24,318,406 | |||||||
Series R214, 6.50% Bonds, 2/28/41 | ZAR | 60,000,000 | 2,945,507 | |||||||
78,434,244 | ||||||||||
Sri Lanka0.2% | ||||||||||
Democratic Socialist Republic of Sri Lanka: | ||||||||||
5.75% Sr. Unsec. Nts., 4/18/231 | 3,610,000 | 3,566,958 | ||||||||
5.875% Sr. Unsec. Nts., 7/25/221 | 3,370,000 | 3,385,940 | ||||||||
6.25% Sr. Unsec. Nts., 10/4/201 | 1,225,000 | 1,246,238 | ||||||||
8,199,136 | ||||||||||
Thailand0.6% | ||||||||||
Kingdom of Thailand: | ||||||||||
1.875% Sr. Unsec. Nts., 6/17/22 | THB | 176,600,000 | 5,565,680 |
23 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||
Thailand (Continued) | ||||||||||
Kingdom of Thailand: (Continued) 2.125% Sr. Unsec. Nts., 12/17/26 |
THB | 490,000,000 | $ | 15,227,304 | ||||||
20,792,984 | ||||||||||
Turkey0.6% | ||||||||||
Republic of Turkey: | ||||||||||
8.50% Bonds, 9/14/22 | TRY | 39,500,000 | 4,966,281 | |||||||
10.60% Bonds, 2/11/26 | TRY | 14,000,000 | 1,727,558 | |||||||
10.70% Bonds, 2/17/21 | TRY | 54,955,000 | 8,151,338 | |||||||
12.40% Bonds, 3/8/28 | TRY | 33,500,000 | 4,458,255 | |||||||
19,303,432 | ||||||||||
Ukraine0.5% | ||||||||||
Ukraine: | ||||||||||
7.75% Sr. Unsec. Nts., 9/1/234 | 3,905,000 | 3,805,813 | ||||||||
7.75% Sr. Unsec. Nts., 9/1/244 | 3,325,000 | 3,207,794 | ||||||||
7.75% Sr. Unsec. Nts., 9/1/254 | 2,200,000 | 2,101,044 | ||||||||
7.75% Sr. Unsec. Nts., 9/1/264 | 6,150,000 | 5,792,439 | ||||||||
8.994% Sr. Unsec. Nts., 2/1/241 | 3,765,000 | 3,790,146 | ||||||||
18,697,236 | ||||||||||
Uruguay0.0% | ||||||||||
Oriental Republic of Uruguay, 9.875% Sr. Unsec. Nts., 6/20/221 | UYU | 36,445,000 | 1,083,636 | |||||||
Total Foreign Government Obligations (Cost $862,918,221) | 819,306,262 | |||||||||
Corporate Loans0.5% | ||||||||||
Albertsons LLC, Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B7, 5.499% [LIBOR4+300], 11/17/252 | 693,305 | 685,574 | ||||||||
Aleris International, Inc., Sr. Sec. Credit Facilities 1st Lien Term Loan, 7.249% [LIBOR6+475], 2/27/232 | 1,394,463 | 1,396,903 | ||||||||
American Greetings Corp., Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B, 6.999% [LIBOR12+450], 4/6/242 | 1,309,202 | 1,310,839 | ||||||||
Claires Stores, Inc., Sr. Sec. Credit Facilities Term Loan, 9.938% 10/12/389 | 97,198 | 97,198 | ||||||||
Clear Channel Communications, Inc., Extended Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche D, 11.252% [LIBOR12+875], 1/30/202,13 | 2,135,000 | 1,528,660 | ||||||||
Dun & Bradstreet Corp. (The), Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B, 7.513% 2/6/269 | 2,075,000 | 2,055,547 | ||||||||
JC Penney Corp., Inc., Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B, 6.956% [LIBOR4+425], 6/23/232 | 745,000 | 663,668 | ||||||||
KIK Custom Products, Inc., Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B, 6.493% [LIBOR12+400], 5/15/232 | 1,380,000 | 1,292,604 | ||||||||
Monitronics International, Inc., Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B2, 8.101% [LIBOR4+550], 9/30/222 | 692,893 | 582,772 | ||||||||
Murray Energy Corp., Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B2, 9.879% [LIBOR12+725], 10/17/222 | 3,725,347 | 3,089,710 |
24 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Corporate Loans (Continued) | ||||||||
Neiman Marcus Group Ltd. LLC, Sr. Sec. Credit Facilities 1st Lien Term Loan, 5.763% [LIBOR12+325], 10/25/202 | $ | 2,010,578 | $ | 1,875,075 | ||||
PetSmart, Inc., Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B, 5.52% [LIBOR12+300], 3/11/222 | 699,549 | 629,248 | ||||||
Scientific Games International, Inc., Sr. Sec. Credit Facilities 1st Lien Term Loan, Tranche B5, 4.449% [LIBOR6+275], 8/14/242,7 | 2,079,748 | 2,029,054 | ||||||
Windstream Services LLC, Sr. Sec. Credit Facilities Term Loan, Tranche B6, 8.50% [PRIME4+500], 3/29/212,13 | 661,540 | 664,951 | ||||||
Total Corporate Loans (Cost $18,667,176) | 17,901,803 | |||||||
Corporate Bonds and Notes42.2% | ||||||||
Consumer Discretionary6.5% | ||||||||
Auto Components0.3% | ||||||||
American Axle & Manufacturing, Inc., 6.25% Sr. Unsec. Nts., 4/1/25 | 2,645,000 | 2,588,794 | ||||||
Cooper-Standard Automotive, Inc., 5.625% Sr. Unsec. Nts., 11/15/261 | 630,000 | 556,290 | ||||||
Dana Financing Luxembourg Sarl, 6.50% Sr. Unsec. Nts., 6/1/261 | 1,695,000 | 1,737,375 | ||||||
Goodyear Tire & Rubber Co. (The), 5.00% Sr. Unsec. Nts., 5/31/26 | 1,310,000 | 1,253,997 | ||||||
Grinding Media, Inc./Moly-Cop AltaSteel Ltd., 7.375% Sr. Sec. Nts., 12/15/231 | 875,000 | 844,375 | ||||||
Panther BF Aggregator 2 LP/Panther Finance Co., Inc.: | ||||||||
6.25% Sr. Sec. Nts., 5/15/261,7 | 645,000 | 658,743 | ||||||
8.50% Sr. Unsec. Nts., 5/15/271,7 | 1,390,000 | 1,396,251 | ||||||
Tenneco, Inc., 5.00% Sr. Unsec. Nts., 7/15/26 | 810,000 | 652,050 | ||||||
9,687,875 | ||||||||
Automobiles0.3% | ||||||||
Ford Motor Credit Co. LLC, 5.75% Sr. Unsec. Nts., 2/1/21 | 3,540,000 | 3,647,485 | ||||||
General Motors Financial Co., Inc., 4.20% Sr. Unsec. Nts., 11/6/21 | 3,540,000 | 3,609,162 | ||||||
Tesla, Inc., 5.30% Sr. Unsec. Nts., 8/15/251 | 1,380,000 | 1,200,600 | ||||||
Williams Scotsman International, Inc., 6.875% Sr. Sec. Nts., 8/15/233 | 1,275,000 | 1,278,188 | ||||||
9,735,435 | ||||||||
Distributors0.0% | ||||||||
LKQ Corp., 4.75% Sr. Unsec. Nts., 5/15/23 | 989,000 | 999,780 | ||||||
Diversified Consumer Services0.0% | ||||||||
Cengage Learning, Inc., 9.50% Sr. Unsec. Nts., 6/15/241 | 345,000 | 287,213 | ||||||
KCA Deutag UK Finance plc, 9.625% Sr. Sec. Nts., 4/1/231 | 705,000 | 593,081 | ||||||
Service Corp. International, 4.625% Sr. Unsec. Nts., 12/15/27 | 700,000 | 698,250 | ||||||
1,578,544 |
25 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Entertainment0.3% | ||||||||
AMC Entertainment Holdings, Inc.: | ||||||||
5.75% Sr. Sub. Nts., 6/15/25 | $ | 1,785,000 | $ | 1,675,312 | ||||
5.875% Sr. Sub. Nts., 11/15/26 | 1,615,000 | 1,461,575 | ||||||
Cinemark USA, Inc., 4.875% Sr. Unsec. Nts., 6/1/23 | 1,260,000 | 1,284,318 | ||||||
Lions Gate Capital Holdings LLC, 5.875% Sr. Unsec. Nts., 11/1/241 | 2,315,000 | 2,396,025 | ||||||
Live Nation Entertainment, Inc., 5.625% Sr. Unsec. Nts., 3/15/261 | 1,220,000 | 1,262,700 | ||||||
Netflix, Inc., 5.875% Sr. Unsec. Nts., 11/15/281 | 700,000 | 741,125 | ||||||
Sirius XM Radio, Inc., 5.375% Sr. Unsec. Nts., 7/15/261 | 1,780,000 | 1,817,825 | ||||||
10,638,880 | ||||||||
Hotels, Restaurants & Leisure1.9% | ||||||||
1011778 B.C. ULC/New Red Finance, Inc.: | ||||||||
4.25% Sr. Sec. Nts., 5/15/241 | 2,150,000 | 2,133,875 | ||||||
5.00% Sec. Nts., 10/15/251 | 3,555,000 | 3,520,517 | ||||||
Aramark Services, Inc.: | ||||||||
4.75% Sr. Unsec. Nts., 6/1/26 | 1,890,000 | 1,890,000 | ||||||
5.00% Sr. Unsec. Nts., 2/1/281 | 2,115,000 | 2,111,574 | ||||||
Boyd Gaming Corp.: | ||||||||
6.00% Sr. Unsec. Nts., 8/15/26 | 1,615,000 | 1,661,431 | ||||||
6.375% Sr. Unsec. Nts., 4/1/26 | 560,000 | 581,700 | ||||||
Caesars Resort Collection LLC/CRC Finco, Inc., 5.25% Sr. | ||||||||
Unsec. Nts., 10/15/251 | 2,075,000 | 2,007,562 | ||||||
CEC Entertainment, Inc., 8.00% Sr. Unsec. Nts., 2/15/22 | 1,880,000 | 1,748,400 | ||||||
Downstream Development Authority of the Quapaw Tribe of Oklahoma, 10.50% Sr. Sec. Nts., 2/15/231 | 840,000 | 872,550 | ||||||
Eldorado Resorts, Inc., 6.00% Sr. Unsec. Nts., 4/1/25 | 1,230,000 | 1,251,525 | ||||||
Gateway Casinos & Entertainment Ltd., 8.25% Sec. Nts., 3/1/241 | 1,070,000 | 1,127,512 | ||||||
Golden Nugget, Inc.: | ||||||||
6.75% Sr. Unsec. Nts., 10/15/243 | 3,430,000 | 3,455,725 | ||||||
8.75% Sr. Sub. Nts., 10/1/251 | 2,860,000 | 3,010,150 | ||||||
Hilton Domestic Operating Co., Inc.: | ||||||||
4.25% Sr. Unsec. Nts., 9/1/24 | 1,135,000 | 1,135,704 | ||||||
5.125% Sr. Unsec. Nts., 5/1/261 | 1,320,000 | 1,343,100 | ||||||
Hilton Grand Vacations Borrower LLC/Hilton Grand Vacations Borrower, Inc., 6.125% Sr. Unsec. Nts., 12/1/24 | 1,735,000 | 1,808,737 | ||||||
International Game Technology plc, 6.25% Sr. Sec. Nts., 2/15/221 | 6,065,000 | 6,330,344 | ||||||
IRB Holding Corp., 6.75% Sr. Unsec. Nts., 2/15/261 | 705,000 | 664,462 | ||||||
KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of America LLC: | ||||||||
4.75% Sr. Unsec. Nts., 6/1/271 | 925,000 | 911,125 | ||||||
5.25% Sr. Unsec. Nts., 6/1/261 | 2,340,000 | 2,367,787 | ||||||
Marriott Ownership Resorts, Inc./ILG LLC, 6.50% Sr. Unsec. Nts., 9/15/261 | 695,000 | 730,758 | ||||||
Melco Resorts Finance Ltd., 4.875% Sr. Unsec. Nts., 6/6/251 | 3,050,000 | 3,028,517 | ||||||
MGM Growth Properties Operating Partnership LP/MGP Finance Co.-Issuer, Inc., 5.625% Sr. Unsec. Nts., 5/1/24 | 2,245,000 | 2,354,444 |
26 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||||
Hotels, Restaurants & Leisure (Continued) | ||||||||||||
MGM Resorts International: | ||||||||||||
5.75% Sr. Unsec. Nts., 6/15/25 | $ | 1,245,000 | $ | 1,296,356 | ||||||||
6.00% Sr. Unsec. Nts., 3/15/23 | 2,000,000 | 2,115,000 | ||||||||||
6.625% Sr. Unsec. Nts., 12/15/21 | 1,080,000 | 1,156,950 | ||||||||||
Mohegan Gaming & Entertainment, 7.875% Sr. Unsec. Nts., 10/15/241 | 1,565,000 | 1,561,088 | ||||||||||
Penn National Gaming, Inc., 5.625% Sr. Unsec. Nts., 1/15/271 | 1,765,000 | 1,720,875 | ||||||||||
Premier Cruises Ltd., 11.00% Sr. Unsec. Nts., 3/15/081,8,13 | 14,750,000 | | ||||||||||
Scientific Games International, Inc.: | ||||||||||||
8.25% Sr. Unsec. Nts., 3/15/261 | 1,390,000 | 1,421,275 | ||||||||||
10.00% Sr. Unsec. Nts., 12/1/22 | 3,993,000 | 4,217,606 | ||||||||||
Six Flags Entertainment Corp., 4.875% Sr. Unsec. Nts., 7/31/241 | 1,455,000 | 1,435,903 | ||||||||||
Viking Cruises Ltd., 5.875% Sr. Unsec. Nts., 9/15/271 | 970,000 | 945,750 | ||||||||||
William Hill plc, 4.25% Sr. Unsec. Nts., 6/5/204 | GBP | 710,000 | 943,813 | |||||||||
Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp.: | ||||||||||||
5.25% Sr. Unsec. Nts., 5/15/271 | 1,075,000 | 1,018,563 | ||||||||||
5.50% Sr. Unsec. Nts., 3/1/251 | 700,000 | 693,000 | ||||||||||
Wynn Macau Ltd.: | ||||||||||||
4.875% Sr. Unsec. Nts., 10/1/241 | 355,000 | 347,222 | ||||||||||
5.50% Sr. Unsec. Nts., 10/1/271 | 355,000 | 340,800 | ||||||||||
65,261,700 | ||||||||||||
Household Durables0.9% | ||||||||||||
Arcelik AS, 5.00% Sr. Unsec. Nts., 4/3/231 | 1,260,000 | 1,176,767 | ||||||||||
Beazer Homes USA, Inc.: | ||||||||||||
5.875% Sr. Unsec. Nts., 10/15/27 | 885,000 | 776,587 | ||||||||||
6.75% Sr. Unsec. Nts., 3/15/25 | 3,890,000 | 3,695,500 | ||||||||||
7.25% Sr. Unsec. Nts., 2/1/23 | 119,000 | 114,835 | ||||||||||
Lennar Corp.: | ||||||||||||
4.50% Sr. Unsec. Nts., 4/30/24 | 905,000 | 920,113 | ||||||||||
4.75% Sr. Unsec. Nts., 4/1/21 | 7,075,000 | 7,225,344 | ||||||||||
4.75% Sr. Unsec. Nts., 5/30/25 | 2,135,000 | 2,191,044 | ||||||||||
5.00% Sr. Unsec. Nts., 6/15/27 | 1,040,000 | 1,046,500 | ||||||||||
5.25% Sr. Unsec. Nts., 6/1/26 | 705,000 | 727,913 | ||||||||||
LGI Homes, Inc., 6.875% Sr. Unsec. Nts., 7/15/261 | 695,000 | 696,737 | ||||||||||
M/I Homes, Inc., 5.625% Sr. Unsec. Nts., 8/1/25 | 2,135,000 | 2,054,938 | ||||||||||
PulteGroup, Inc., 5.50% Sr. Unsec. Nts., 3/1/26 | 1,705,000 | 1,766,806 | ||||||||||
Resideo Funding, Inc., 6.125% Sr. Unsec. Nts., 11/1/261 | 1,355,000 | 1,402,425 | ||||||||||
Taylor Morrison Communities, Inc., 6.625% Sr. Unsec. Nts., 5/15/22 | 2,925,000 | 3,034,687 | ||||||||||
Taylor Morrison Communities, Inc./Taylor Morrison Holdings II, Inc., 5.875% Sr. Unsec. Nts., 4/15/231 | 1,345,000 | 1,378,625 | ||||||||||
William Lyon Homes, Inc.: | ||||||||||||
5.875% Sr. Unsec. Nts., 1/31/25 | 1,876,000 | 1,772,820 | ||||||||||
6.00% Sr. Unsec. Nts., 9/1/23 | 1,405,000 | 1,366,363 | ||||||||||
31,348,004 |
27 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Internet & Catalog Retail0.0% | ||||||||
Getty Images, Inc., 9.75% Sr. Unsec. Nts., 3/1/271 | $ | 175,000 | $ | 176,531 | ||||
Leisure Equipment & Products0.0% | ||||||||
Mattel, Inc., 6.75% Sr. Unsec. Nts., 12/31/251 | 1,730,000 | 1,706,213 | ||||||
Media2.0% | ||||||||
Altice Financing SA: | ||||||||
6.625% Sr. Sec. Nts., 2/15/231 | 525,000 | 538,125 | ||||||
7.50% Sr. Sec. Nts., 5/15/261 | 1,925,000 | 1,910,562 | ||||||
Altice Finco SA, 8.125% Sec. Nts., 1/15/241 | 1,905,000 | 1,938,337 | ||||||
Altice France SA: | ||||||||
7.375% Sr. Sec. Nts., 5/1/261 | 2,500,000 | 2,456,250 | ||||||
8.125% Sr. Sec. Nts., 2/1/271 | 1,395,000 | 1,412,437 | ||||||
Altice Luxembourg SA: | ||||||||
7.625% Sr. Unsec. Nts., 2/15/251 | 695,000 | 611,600 | ||||||
7.75% Sr. Unsec. Nts., 5/15/221 | 525,000 | 526,312 | ||||||
AMC Networks, Inc.: | ||||||||
4.75% Sr. Unsec. Nts., 8/1/25 | 1,425,000 | 1,417,875 | ||||||
5.00% Sr. Unsec. Nts., 4/1/24 | 700,000 | 705,180 | ||||||
Belo Corp., 7.75% Sr. Unsec. Nts., 6/1/27 | 3,338,000 | 3,663,455 | ||||||
Block Communications, Inc., 6.875% Sr. Unsec. Nts., 2/15/251 | 1,250,000 | 1,301,562 | ||||||
CCO Holdings LLC/CCO Holdings Capital Corp.: | ||||||||
4.00% Sr. Unsec. Nts., 3/1/231 | 710,000 | 711,100 | ||||||
5.00% Sr. Unsec. Nts., 2/1/281 | 1,890,000 | 1,873,462 | ||||||
5.125% Sr. Unsec. Nts., 5/1/271 | 2,881,000 | 2,906,209 | ||||||
5.375% Sr. Unsec. Nts., 5/1/251 | 530,000 | 548,550 | ||||||
5.75% Sr. Unsec. Nts., 2/15/261 | 3,250,000 | 3,412,500 | ||||||
5.875% Sr. Unsec. Nts., 4/1/241 | 650,000 | 680,946 | ||||||
5.875% Sr. Unsec. Nts., 5/1/271 | 530,000 | 551,359 | ||||||
Clear Channel International BV, 8.75% Sr. Unsec. Nts., 12/15/203 | 710,000 | 732,188 | ||||||
Clear Channel Worldwide Holdings, Inc., Series B, 6.50% Sr. Unsec. Nts., 11/15/22 | 3,115,000 | 3,196,769 | ||||||
CSC Holdings LLC: | ||||||||
5.25% Sr. Unsec. Nts., 6/1/24 | 1,645,000 | 1,673,787 | ||||||
5.50% Sr. Sec. Nts., 5/15/261 | 525,000 | 540,908 | ||||||
5.50% Sr. Unsec. Nts., 4/15/271 | 1,350,000 | 1,381,927 | ||||||
6.50% Sr. Unsec. Nts., 2/1/291 | 690,000 | 735,712 | ||||||
10.875% Sr. Unsec. Nts., 10/15/251 | 1,605,000 | 1,856,985 | ||||||
DISH DBS Corp.: | ||||||||
5.875% Sr. Unsec. Nts., 7/15/22 | 345,000 | 335,185 | ||||||
5.875% Sr. Unsec. Nts., 11/15/24 | 5,025,000 | 4,239,844 | ||||||
7.75% Sr. Unsec. Nts., 7/1/26 | 715,000 | 623,838 | ||||||
Gray Television, Inc.: | ||||||||
5.125% Sr. Unsec. Nts., 10/15/241 | 1,400,000 | 1,407,000 | ||||||
5.875% Sr. Unsec. Nts., 7/15/261 | 2,770,000 | 2,825,954 | ||||||
iHeartCommunications, Inc., 9.00% Sr. Sec. Nts., 12/15/19 | 4,005,000 | 2,863,575 | ||||||
Lamar Media Corp., 5.75% Sr. Unsec. Nts., 2/1/261 | 690,000 | 723,638 | ||||||
MDC Partners, Inc., 6.50% Sr. Unsec. Nts., 5/1/241 | 545,000 | 453,713 |
28 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Media (Continued) | ||||||||
Meredith Corp., 6.875% Sr. Unsec. Nts., 2/1/26 | $ | 640,000 | $ | 676,800 | ||||
Nexstar Broadcasting, Inc., 5.625% Sr. Unsec. Nts., 8/1/241 | 2,405,000 | 2,447,088 | ||||||
Salem Media Group, Inc., 6.75% Sr. Sec. Nts., 6/1/241 | 1,395,000 | 1,269,450 | ||||||
Sinclair Television Group, Inc., 5.625% Sr. Unsec. Nts., 8/1/241 | 1,550,000 | 1,567,438 | ||||||
TEGNA, Inc., 5.50% Sr. Unsec. Nts., 9/15/241 | 1,580,000 | 1,601,725 | ||||||
Townsquare Media, Inc., 6.50% Sr. Unsec. Nts., 4/1/231 | 710,000 | 682,488 | ||||||
Tribune Media Co., 5.875% Sr. Unsec. Nts., 7/15/22 | 1,590,000 | 1,630,744 | ||||||
Univision Communications, Inc.: | ||||||||
5.125% Sr. Sec. Nts., 5/15/231 | 735,000 | 701,925 | ||||||
5.125% Sr. Sec. Nts., 2/15/251 | 3,255,000 | 3,047,494 | ||||||
UPCB Finance IV Ltd., 5.375% Sr. Sec. Nts., 1/15/251 | 350,000 | 356,125 | ||||||
Virgin Media Secured Finance plc, 5.50% Sr. Sec. Nts., 8/15/261 | 1,710,000 | 1,744,200 | ||||||
Ziggo BV, 5.50% Sr. Sec. Nts., 1/15/271 | 2,875,000 | 2,853,438 | ||||||
69,335,759 | ||||||||
Multiline Retail0.1% | ||||||||
JC Penney Corp., Inc.: | ||||||||
5.875% Sr. Sec. Nts., 7/1/231 | 1,130,000 | 957,675 | ||||||
8.625% Sec. Nts., 3/15/251 | 1,390,000 | 820,100 | ||||||
1,777,775 | ||||||||
Specialty Retail0.6% | ||||||||
Freedom Mortgage Corp.: | ||||||||
8.125% Sr. Unsec. Nts., 11/15/241 | 1,065,000 | 950,512 | ||||||
8.25% Sr. Unsec. Nts., 4/15/251 | 1,925,000 | 1,718,062 | ||||||
GameStop Corp.: | ||||||||
5.50% Sr. Unsec. Nts., 10/1/191 | 810,000 | 813,037 | ||||||
6.75% Sr. Unsec. Nts., 3/15/211 | 2,940,000 | 2,969,400 | ||||||
L Brands, Inc.: | ||||||||
5.25% Sr. Unsec. Nts., 2/1/28 | 705,000 | 629,213 | ||||||
6.875% Sr. Unsec. Nts., 11/1/35 | 4,880,000 | 4,239,500 | ||||||
Lithia Motors, Inc., 5.25% Sr. Unsec. Nts., 8/1/251 | 1,425,000 | 1,437,469 | ||||||
Party City Holdings, Inc., 6.625% Sr. Unsec. Nts., 8/1/261 | 1,395,000 | 1,391,513 | ||||||
PetSmart, Inc.: | ||||||||
5.875% Sr. Sec. Nts., 6/1/251 | 1,740,000 | 1,465,950 | ||||||
7.125% Sr. Unsec. Nts., 3/15/231 | 690,000 | 517,500 | ||||||
Sonic Automotive, Inc., 6.125% Sr. Sub. Nts., 3/15/27 | 1,800,000 | 1,642,500 | ||||||
Staples, Inc., 8.50% Sr. Unsec. Nts., 9/15/251 | 4,060,000 | 4,445,700 | ||||||
22,220,356 | ||||||||
Textiles, Apparel & Luxury Goods0.1% | ||||||||
Hanesbrands, Inc.: | ||||||||
4.625% Sr. Unsec. Nts., 5/15/241 | 945,000 | 952,276 | ||||||
4.875% Sr. Unsec. Nts., 5/15/261 | 980,000 | 971,768 | ||||||
William Carter Co. (The), 5.625% Sr. Unsec. Nts., 3/15/271 | 695,000 | 721,063 | ||||||
2,645,107 |
29 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Consumer Staples1.0% | ||||||||
Beverages0.0% | ||||||||
Coca-Cola Icecek AS, 4.215% Sr. Unsec. Nts., 9/19/241 | $ | 1,100,000 | $ | 1,029,690 | ||||
Food & Staples Retailing0.5% | ||||||||
Albertsons Cos. LLC/Safeway, Inc./New Albertsons LP/Albertsons LLC: | ||||||||
5.75% Sr. Unsec. Nts., 3/15/25 | 685,000 | 653,319 | ||||||
6.625% Sr. Unsec. Nts., 6/15/24 | 2,375,000 | 2,410,625 | ||||||
7.50% Sr. Unsec. Nts., 3/15/261 | 690,000 | 713,287 | ||||||
Fresh Market, Inc. (The), 9.75% Sr. Sec. Nts., 5/1/231 | 1,910,000 | 1,442,050 | ||||||
Ingles Markets, Inc., 5.75% Sr. Unsec. Nts., 6/15/23 | 1,709,000 | 1,749,589 | ||||||
New Albertsons LP, 7.45% Sr. Unsec. Nts., 8/1/29 | 2,195,000 | 1,953,550 | ||||||
Par Pharmaceutical, Inc., 7.50% Sr. Sec. Nts., 4/1/271 | 3,470,000 | 3,526,387 | ||||||
Rite Aid Corp., 6.125% Sr. Unsec. Nts., 4/1/231 | 3,280,000 | 2,730,600 | ||||||
Simmons Foods, Inc.: | ||||||||
5.75% Sec. Nts., 11/1/241 | 2,805,000 | 2,475,413 | ||||||
7.75% Sr. Sec. Nts., 1/15/241 | 700,000 | 749,000 | ||||||
18,403,820 | ||||||||
Food Products0.3% | ||||||||
Darling Ingredients, Inc., 5.25% Sr. Unsec. Nts., 4/15/271,7 | 695,000 | 705,991 | ||||||
JBS USA LUX SA/JBS USA Finance, Inc.: | ||||||||
5.75% Sr. Unsec. Nts., 6/15/251 | 2,230,000 | 2,294,113 | ||||||
6.75% Sr. Unsec. Nts., 2/15/281 | 2,100,000 | 2,181,375 | ||||||
Minerva Luxembourg SA, 6.50% Sr. Unsec. Nts., 9/20/261 | 1,270,000 | 1,265,111 | ||||||
Pilgrims Pride Corp.: | ||||||||
5.75% Sr. Unsec. Nts., 3/15/251 | 2,130,000 | 2,161,950 | ||||||
5.875% Sr. Unsec. Nts., 9/30/271 | 710,000 | 717,100 | ||||||
Post Holdings, Inc.: | ||||||||
5.00% Sr. Unsec. Nts., 8/15/261 | 655,000 | 639,444 | ||||||
5.75% Sr. Unsec. Nts., 3/1/271 | 2,135,000 | 2,153,681 | ||||||
12,118,765 | ||||||||
Household Products0.1% | ||||||||
Kronos Acquisition Holdings, Inc., 9.00% Sr. Unsec. Nts., 8/15/231 | 1,800,000 | 1,552,500 | ||||||
Spectrum Brands, Inc., 6.125% Sr. Unsec. Nts., 12/15/24 | 695,000 | 705,425 | ||||||
2,257,925 | ||||||||
Personal Products0.1% | ||||||||
Avon International Operations, Inc., 7.875% Sr. Sec. Nts., 8/15/221 | 2,225,000 | 2,316,781 | ||||||
Energy6.4% | ||||||||
Energy Equipment & Services1.2% | ||||||||
Basic Energy Services, Inc., 10.75% Sr. Sec. Nts., 10/15/231 | 690,000 | 555,450 | ||||||
Bristow Group, Inc., 8.75% Sr. Sec. Nts., 3/1/231 | 520,000 | 377,000 | ||||||
Calfrac Holdings LP, 8.50% Sr. Unsec. Nts., 6/15/261 | 1,740,000 | 1,357,200 | ||||||
CGG Holding US, Inc., 9.00% Sr. Sec. Nts., 5/1/231 | 350,000 | 371,875 |
30 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Energy Equipment & Services (Continued) | ||||||||
CSI Compressco LP/CSI Compressco Finance, Inc., 7.50% Sr. Sec. Nts., 4/1/251 | $ | 690,000 | $ | 662,400 | ||||
Ensco plc: | ||||||||
5.20% Sr. Unsec. Nts., 3/15/25 | 1,960,000 | 1,529,388 | ||||||
7.75% Sr. Unsec. Nts., 2/1/26 | 355,000 | 301,306 | ||||||
Eterna Capital Pte Ltd.: | ||||||||
7.50% Sr. Sec. Nts., 12/11/224,14 | 1,847,029 | 1,812,801 | ||||||
8.00% Sr. Sec. Nts., 12/11/2214 | 7,497,336 | 6,810,730 | ||||||
Exterran Energy Solutions LP/EES Finance Corp., 8.125% Sr. Unsec. Nts., 5/1/25 | 720,000 | 738,000 | ||||||
KCA Deutag UK Finance plc, 7.25% Sr. Sec. Nts., 5/15/211 | 200,000 | 173,000 | ||||||
McDermott Technology Americas, Inc./McDermott Technology US, Inc., 10.625% Sr. Unsec. Nts., 5/1/241 | 6,435,000 | 5,373,225 | ||||||
Nabors Industries, Inc., 5.75% Sr. Unsec. Nts., 2/1/25 | 1,580,000 | 1,423,943 | ||||||
Pertamina Persero PT, 5.625% Sr. Unsec. Nts., 5/20/431 | 9,665,000 | 10,065,924 | ||||||
Pioneer Energy Services Corp., 6.125% Sr. Unsec. Nts., 3/15/22 | 2,630,000 | 1,656,900 | ||||||
Precision Drilling Corp., 7.125% Sr. Unsec. Nts., 1/15/261 | 985,000 | 981,614 | ||||||
Rowan Cos., Inc., 7.375% Sr. Unsec. Nts., 6/15/25 | 1,335,000 | 1,174,800 | ||||||
SESI LLC, 7.75% Sr. Unsec. Nts., 9/15/24 | 1,030,000 | 857,475 | ||||||
Tervita Escrow Corp., 7.625% Sec. Nts., 12/1/211 | 700,000 | 698,250 | ||||||
Transocean Pontus Ltd., 6.125% Sr. Sec. Nts., 8/1/251 | 661,500 | 673,076 | ||||||
Transocean Poseidon Ltd., 6.875% Sr. Sec. Nts., 2/1/271 | 345,000 | 359,663 | ||||||
Transocean, Inc.: | ||||||||
7.50% Sr. Unsec. Nts., 1/15/261 | 710,000 | 704,675 | ||||||
9.00% Sr. Unsec. Nts., 7/15/231 | 1,810,000 | 1,936,700 | ||||||
Unit Corp., 6.625% Sr. Sub. Nts., 5/15/21 | 695,000 | 670,675 | ||||||
USA Compression Partners LP/USA Compression Finance Corp., 6.875% Sr. Unsec. Nts., 9/1/271 | 1,040,000 | 1,062,100 | ||||||
Weatherford International Ltd., 9.875% Sr. Unsec. Nts., 2/15/24 | 2,091,000 | 1,515,975 |
||||||
43,844,145 | ||||||||
Oil, Gas & Consumable Fuels5.2% | ||||||||
Alta Mesa Holdings LP/Alta Mesa Finance Services Corp., 7.875% Sr. Unsec. Nts., 12/15/24 | 715,000 | 271,700 | ||||||
Ardagh Packaging Finance plc/Ardagh Holdings USA, Inc., 6.00% Sr. Unsec. Nts., 2/15/251 | 2,380,000 | 2,385,950 | ||||||
Ascent Resources Utica Holdings LLC/ARU Finance Corp., 10.00% Sr. Unsec. Nts., 4/1/221 | 1,785,000 | 1,964,035 | ||||||
Baytex Energy Corp., 5.625% Sr. Unsec. Nts., 6/1/241 | 1,270,000 | 1,185,862 | ||||||
Berry Petroleum Co. LLC, 7.00% Sr. Unsec. Nts., 2/15/261 | 355,000 | 353,225 | ||||||
Blue Racer Midstream LLC/Blue Racer Finance Corp., 6.625% Sr. Unsec. Nts., 7/15/261 | 1,400,000 | 1,435,000 | ||||||
Brazos Valley Longhorn LLC/Brazos Valley Longhorn Finance Corp., 6.875% Sr. Unsec. Nts., 2/1/25 | 700,000 | 709,625 | ||||||
California Resources Corp.: | ||||||||
5.00% Sr. Unsec. Nts., 1/15/20 | 695,000 | 656,775 | ||||||
8.00% Sec. Nts., 12/15/221 | 2,448,000 | 1,928,534 |
31 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Oil, Gas & Consumable Fuels (Continued) | ||||||||
Calumet Specialty Products Partners LP/Calumet Finance Corp.: | ||||||||
6.50% Sr. Unsec. Nts., 4/15/21 | $ | 955,000 | $ | 938,287 | ||||
7.625% Sr. Unsec. Nts., 1/15/22 | 1,005,000 | 932,137 | ||||||
Carrizo Oil & Gas, Inc.: | ||||||||
6.25% Sr. Unsec. Nts., 4/15/23 | 345,000 | 340,694 | ||||||
8.25% Sr. Unsec. Nts., 7/15/25 | 700,000 | 728,000 | ||||||
Centennial Resource Production LLC: | ||||||||
5.375% Sr. Unsec. Nts., 1/15/261 | 345,000 | 332,494 | ||||||
6.875% Sr. Unsec. Nts., 4/1/271 | 695,000 | 703,548 | ||||||
Cheniere Corpus Christi Holdings LLC: | ||||||||
5.125% Sr. Sec. Nts., 6/30/27 | 1,430,000 | 1,503,287 | ||||||
7.00% Sr. Sec. Nts., 6/30/24 | 1,680,000 | 1,900,584 | ||||||
Chesapeake Energy Corp.: | ||||||||
6.125% Sr. Unsec. Nts., 2/15/21 | 1,360,000 | 1,407,600 | ||||||
7.00% Sr. Unsec. Nts., 10/1/24 | 1,080,000 | 1,081,350 | ||||||
7.50% Sr. Unsec. Nts., 10/1/26 | 1,385,000 | 1,367,410 | ||||||
8.00% Sr. Unsec. Nts., 1/15/25 | 180,000 | 184,500 | ||||||
8.00% Sr. Unsec. Nts., 6/15/27 | 1,060,000 | 1,049,400 | ||||||
CITGO Petroleum Corp., 6.25% Sr. Sec. Nts., 8/15/221 | 195,000 | 194,512 | ||||||
CNX Resources Corp., 5.875% Sr. Unsec. Nts., 4/15/22 | 323,000 | 323,807 | ||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 5.75% Sr. Unsec. Nts., 4/1/25 | 400,000 | 412,000 | ||||||
CrownRock LP/CrownRock Finance, Inc., 5.625% Sr. Unsec. Nts., 10/15/251 | 1,740,000 | 1,676,925 | ||||||
CVR Refining LLC/Coffeyville Finance, Inc., 6.50% Sr. Unsec. Nts., 11/1/22 | 2,750,000 | 2,791,250 | ||||||
DCP Midstream Operating LP, 2.70% Sr. Unsec. Nts., 4/1/19 | 625,000 | 625,000 | ||||||
Denbury Resources, Inc.: | ||||||||
9.00% Sec. Nts., 5/15/211 | 1,355,000 | 1,324,512 | ||||||
9.25% Sec. Nts., 3/31/221 | 1,567,000 | 1,519,990 | ||||||
Ecopetrol SA, 5.375% Sr. Unsec. Nts., 6/26/26 | 1,790,000 | 1,933,200 | ||||||
Energy Transfer Operating LP: | ||||||||
5.875% Sr. Unsec. Nts., 1/15/24 | 1,445,000 | 1,582,950 | ||||||
6.625% [US0003M+415.5] Jr. Sub. Perpetual Bonds2,15 | 1,752,000 | 1,668,123 | ||||||
7.50% Sr. Unsec. Nts., 10/15/20 | 710,000 | 756,196 | ||||||
Enviva Partners LP/Enviva Partners Finance Corp., 8.50% Sr. Unsec. Nts., 11/1/21 | 2,030,000 | 2,123,887 | ||||||
EP Energy LLC/Everest Acquisition Finance, Inc.: | ||||||||
7.75% Sr. Sec. Nts., 5/15/261 | 1,050,000 | 861,000 | ||||||
8.00% Sr. Sec. Nts., 11/29/241 | 3,465,000 | 1,931,737 | ||||||
8.00% Sec. Nts., 2/15/251 | 725,000 | 253,750 | ||||||
9.375% Sec. Nts., 5/1/243 | 6,854,000 | 2,501,710 | ||||||
Extraction Oil & Gas, Inc.: | ||||||||
5.625% Sr. Unsec. Nts., 2/1/261 | 1,045,000 | 807,263 | ||||||
7.375% Sr. Unsec. Nts., 5/15/241 | 710,000 | 596,400 | ||||||
Foresight Energy LLC/Foresight Energy Finance Corp., 11.50% Sec. Nts., 4/1/231 | 520,000 | 423,800 | ||||||
Fortress Transportation & Infrastructure Investors LLC, 6.75% Sr. Unsec. Nts., 3/15/221 | 690,000 | 703,800 |
32 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Oil, Gas & Consumable Fuels (Continued) | ||||||||
Genesis Energy LP/Genesis Energy Finance Corp.: | ||||||||
6.00% Sr. Unsec. Nts., 5/15/23 | $ | 915,000 | $ | 924,150 | ||||
6.25% Sr. Unsec. Nts., 5/15/26 | 2,515,000 | 2,389,250 | ||||||
6.50% Sr. Unsec. Nts., 10/1/25 | 1,735,000 | 1,695,963 | ||||||
6.75% Sr. Unsec. Nts., 8/1/22 | 285,000 | 292,838 | ||||||
Gulfport Energy Corp.: | ||||||||
6.00% Sr. Unsec. Nts., 10/15/24 | 1,050,000 | 958,272 | ||||||
6.375% Sr. Unsec. Nts., 5/15/25 | 700,000 | 636,125 | ||||||
Halcon Resources Corp., 6.75% Sr. Unsec. Nts., 2/15/25 | 735,000 | 444,675 | ||||||
Hess Infrastructure Partners LP/Hess Infrastructure Partners Finance Corp., 5.625% Sr. Unsec. Nts., 2/15/261 | 700,000 | 715,750 | ||||||
HighPoint Operating Corp., 8.75% Sr. Unsec. Nts., 6/15/25 | 479,000 | 462,235 | ||||||
Hilcorp Energy I LP/Hilcorp Finance Co., 5.75% Sr. Unsec. Nts., 10/1/251 | 315,000 | 311,063 | ||||||
Holly Energy Partners LP/Holly Energy Finance Corp., 6.00% Sr. Unsec. Nts., 8/1/241 | 710,000 | 736,270 | ||||||
Indigo Natural Resources LLC, 6.875% Sr. Unsec. Nts., 2/15/261 | 1,005,000 | 894,450 | ||||||
Jones Energy Holdings LLC/Jones Energy Finance Corp., 6.75% Sr. Unsec. Nts., 4/1/22 | 2,067,000 | 72,345 | ||||||
KazMunayGas National Co. JSC, 6.375% Sr. Unsec. Nts., 10/24/481 | 4,935,000 | 5,409,145 | ||||||
KazTransGas JSC, 4.375% Sr. Unsec. Nts., 9/26/271 | 4,645,000 | 4,515,595 | ||||||
Kinder Morgan Energy Partners LP, 3.45% Sr. Unsec. Nts., 2/15/23 | 3,545,000 | 3,588,937 | ||||||
Laredo Petroleum, Inc.: | ||||||||
5.625% Sr. Unsec. Nts., 1/15/22 | 685,000 | 629,344 | ||||||
6.25% Sr. Unsec. Nts., 3/15/23 | 285,000 | 255,788 | ||||||
LBC Tank Terminals Holding Netherlands BV, 6.875% Sr. Unsec. Nts., 5/15/231 | 580,000 | 552,450 | ||||||
MEG Energy Corp.: | ||||||||
6.50% Sec. Nts., 1/15/251 | 1,735,000 | 1,715,481 | ||||||
7.00% Sr. Unsec. Nts., 3/31/241 | 1,885,000 | 1,767,188 | ||||||
Moss Creek Resources Holdings, Inc., 7.50% Sr. Unsec. Nts., 1/15/261 | 1,060,000 | 983,150 | ||||||
Murphy Oil Corp., 6.875% Sr. Unsec. Nts., 8/15/24 | 285,000 | 301,916 | ||||||
Murray Energy Corp., 12.00% Sec. Nts., 4/15/241,14 | 5,659,736 | 2,405,388 | ||||||
Newfield Exploration Co., 5.625% Sr. Unsec. Nts., 7/1/24 | 730,000 | 798,472 | ||||||
NGL Energy Partners LP/NGL Energy Finance Corp.: | ||||||||
6.125% Sr. Unsec. Nts., 3/1/25 | 3,045,000 | 2,953,650 | ||||||
7.50% Sr. Unsec. Nts., 11/1/23 | 1,235,000 | 1,283,906 | ||||||
Northern Oil & Gas, Inc., 9.50% Sec. Nts., 5/15/2314 | 345,862 | 359,696 | ||||||
Oasis Petroleum, Inc.: | ||||||||
6.25% Sr. Unsec. Nts., 5/1/261 | 700,000 | 668,500 | ||||||
6.875% Sr. Unsec. Nts., 1/15/23 | 1,470,000 | 1,473,675 | ||||||
Parkland Fuel Corp., 6.00% Sr. Unsec. Nts., 4/1/261 | 700,000 | 709,835 | ||||||
Parsley Energy LLC/Parsley Finance Corp., 5.625% Sr. Unsec. Nts., 10/15/271 | 1,065,000 | 1,067,663 |
33 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||||
Oil, Gas & Consumable Fuels (Continued) | ||||||||||||
PBF Holding Co. LLC/PBF Finance Corp.: | ||||||||||||
7.00% Sr. Sec. Nts., 11/15/23 | $ | 470,000 | $ | 485,745 | ||||||||
7.25% Sr. Unsec. Nts., 6/15/25 | 1,055,000 | 1,088,233 | ||||||||||
PBF Logistics LP/PBF Logistics Finance Corp., 6.875% Sr. Unsec. Nts., 5/15/23 | 1,025,000 | 1,048,063 | ||||||||||
PDC Energy, Inc., 5.75% Sr. Unsec. Nts., 5/15/26 | 1,420,000 | 1,391,600 | ||||||||||
Peabody Energy Corp., 6.375% Sr. Sec. Nts., 3/31/251 | 700,000 | 683,550 | ||||||||||
Petrobras Global Finance BV: | ||||||||||||
5.75% Sr. Unsec. Nts., 2/1/29 | 2,050,000 | 2,035,650 | ||||||||||
5.999% Sr. Unsec. Nts., 1/27/28 | 3,865,000 | 3,921,043 | ||||||||||
6.90% Sr. Unsec. Nts., 3/19/49 | 7,685,000 | 7,618,909 | ||||||||||
Petroleos Mexicanos: | ||||||||||||
3.75% Sr. Unsec. Nts., 4/16/264 | EUR | 3,560,000 | 3,903,837 | |||||||||
6.375% Sr. Unsec. Nts., 2/4/21 | 7,085,000 | 7,364,858 | ||||||||||
6.375% Sr. Unsec. Nts., 1/23/45 | 2,825,000 | 2,505,916 | ||||||||||
6.50% Sr. Unsec. Nts., 1/23/29 | 2,560,000 | 2,541,440 | ||||||||||
Puma International Financing SA, 5.00% Sr. Unsec. Nts., 1/24/261 | 2,600,000 | 2,263,323 | ||||||||||
QEP Resources, Inc., 5.625% Sr. Unsec. Nts., 3/1/26 | 1,780,000 | 1,619,800 | ||||||||||
Range Resources Corp., 5.00% Sr. Unsec. Nts., 3/15/23 | 695,000 | 683,706 | ||||||||||
Reliance Industries Ltd.: | ||||||||||||
6.78% Unsec. Nts., 9/16/20 | INR | 180,000,000 | 2,598,257 | |||||||||
7.00% Unsec. Nts., 8/31/22 | INR | 540,000,000 | 7,771,019 | |||||||||
Repsol International Finance BV, 4.50% [EUSA10+420] Jr. Sub. Nts., 3/25/752,4 | EUR | 3,590,000 | 4,415,273 | |||||||||
Resolute Energy Corp., 8.50% Sr. Unsec. Nts., 5/1/20 | 3,700,000 | 3,700,000 | ||||||||||
Saka Energi Indonesia PT, 4.45% Sr. Unsec. Nts., 5/5/241 | 1,555,000 | 1,537,304 | ||||||||||
Sanchez Energy Corp.: | ||||||||||||
6.125% Sr. Unsec. Nts., 1/15/23 | 4,270,000 | 597,800 | ||||||||||
7.25% Sr. Sec. Nts., 2/15/231 | 695,000 | 562,950 | ||||||||||
7.75% Sr. Unsec. Nts., 6/15/21 | 1,895,000 | 272,406 | ||||||||||
SemGroup Corp./Rose Rock Finance Corp.: | ||||||||||||
5.625% Sr. Unsec. Nts., 7/15/22 | 665,000 | 660,844 | ||||||||||
5.625% Sr. Unsec. Nts., 11/15/23 | 1,610,000 | 1,520,001 | ||||||||||
SM Energy Co.: | ||||||||||||
6.625% Sr. Unsec. Nts., 1/15/27 | 695,000 | 663,725 | ||||||||||
6.75% Sr. Unsec. Nts., 9/15/26 | 1,015,000 | 978,206 | ||||||||||
Southern Gas Corridor CJSC, 6.875% Sr. Unsec. Nts., 3/24/261 | 3,740,000 | 4,202,821 | ||||||||||
Southwestern Energy Co.: | ||||||||||||
6.20% Sr. Unsec. Nts., 1/23/25 | 350,000 | 345,625 | ||||||||||
7.50% Sr. Unsec. Nts., 4/1/26 | 1,415,000 | 1,450,375 | ||||||||||
SRC Energy, Inc., 6.25% Sr. Unsec. Nts., 12/1/25 | 670,000 | 601,526 | ||||||||||
Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 5.75% Sr. Unsec. Nts., 4/15/25 | 2,430,000 | 2,305,463 | ||||||||||
Sunoco LP/Sunoco Finance Corp.: | ||||||||||||
4.875% Sr. Unsec. Nts., 1/15/23 | 885,000 | 901,284 | ||||||||||
5.50% Sr. Unsec. Nts., 2/15/26 | 470,000 | 466,475 | ||||||||||
5.875% Sr. Unsec. Nts., 3/15/28 | 1,062,000 | 1,056,690 | ||||||||||
6.00% Sr. Unsec. Nts., 4/15/271 | 695,000 | 698,475 |
34 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||||
Oil, Gas & Consumable Fuels (Continued) | ||||||||||||
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp.: | ||||||||||||
5.50% Sr. Unsec. Nts., 9/15/241 | $ | 1,510,000 | $ | 1,555,300 | ||||||||
5.50% Sr. Unsec. Nts., 1/15/281 | 630,000 | 633,938 | ||||||||||
Targa Resources Partners LP/Targa Resources Partners Finance Corp.: | ||||||||||||
5.00% Sr. Unsec. Nts., 1/15/28 | 980,000 | 966,525 | ||||||||||
5.875% Sr. Unsec. Nts., 4/15/261 | 1,400,000 | 1,486,800 | ||||||||||
6.50% Sr. Unsec. Nts., 7/15/271 | 690,000 | 746,063 | ||||||||||
Topaz Marine SA, 9.125% Sr. Unsec. Nts., 7/26/221 | 1,215,000 | 1,235,650 | ||||||||||
Transcanada Trust, 5.875% [US0003M+464] Jr. Sub. Nts., 8/15/762 | 3,545,000 | 3,601,809 | ||||||||||
TransMontaigne Partners LP/TLP Finance Corp., 6.125% Sr. Unsec. Nts., 2/15/26 | 355,000 | 335,475 | ||||||||||
USA Compression Partners LP/USA Compression Finance Corp., 6.875% Sr. Unsec. Nts., 4/1/26 | 1,050,000 | 1,078,875 | ||||||||||
W&T Offshore, Inc., 9.75% Sec. Nts., 11/1/231 | 175,000 | 175,219 | ||||||||||
Whiting Petroleum Corp., 6.625% Sr. Unsec. Nts., 1/15/26 | 1,405,000 | 1,383,925 | ||||||||||
WPX Energy, Inc., 8.25% Sr. Unsec. Nts., 8/1/23 | 695,000 | 785,350 | ||||||||||
180,792,095 | ||||||||||||
Financials13.9% | ||||||||||||
Capital Markets1.7% | ||||||||||||
Charles Schwab Corp. (The), 5.00% [US0003M+257.5] Jr. Sub. Perpetual Bonds2,15 | 3,448,000 | 3,246,206 | ||||||||||
Credit Suisse Group AG: | ||||||||||||
7.125% [USSW5+510.8] Jr. Sub. Perpetual Bonds2,4,15 | 3,225,000 | 3,311,156 | ||||||||||
7.50% [USSW5+459.8] Jr. Sub. Perpetual Bonds2,4,15 | 8,590,000 | 9,104,885 | ||||||||||
Diamond Resorts International, Inc.: | ||||||||||||
7.75% Sr. Sec. Nts., 9/1/231 | 660,000 | 662,475 | ||||||||||
10.75% Sr. Unsec. Nts., 9/1/241 | 575,000 | 544,094 | ||||||||||
E*TRADE Financial Corp., 5.875% [US0003M+443.5] Jr. Sub. Perpetual Bonds2,15 | 3,227,000 | 3,271,371 | ||||||||||
Eagle Intermediate Global Holding BV/Ruyi US Finance LLC, 7.50% Sr. Sec. Nts., 5/1/253 | 690,000 | 683,100 | ||||||||||
European Bank for Reconstruction & Development, 28.50%, 7/10/19 | TRY | 29,400,000 | 5,196,241 | |||||||||
Flex Acquisition Co., Inc., 6.875% Sr. Unsec. Nts., 1/15/251 | 3,475,000 | 3,336,000 | ||||||||||
Goldman Sachs Group, Inc. (The), 5.00% [US0003M+287.4] Jr. Sub. Perpetual Bonds2,15 | 1,764,000 | 1,632,097 | ||||||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.375% Sr. Unsec. Nts., 12/15/25 | 1,230,000 | 1,262,287 | ||||||||||
Macquarie Bank Ltd. (London), 6.125% [USSW5+370.3] Jr. Sub. Perpetual Bonds1,2,15 | 3,252,000 | 3,005,612 | ||||||||||
Martin Midstream Partners LP/Martin Midstream Finance Corp., 7.25% Sr. Unsec. Nts., 2/15/21 | 695,000 | 677,625 | ||||||||||
MSCI, Inc., 5.375% Sr. Unsec. Nts., 5/15/271 | 700,000 | 742,000 | ||||||||||
NCI Building Systems, Inc., 8.00% Sec. Nts., 4/15/261 | 1,045,000 | 942,350 | ||||||||||
Prime Security Services Borrower LLC/Prime Finance, Inc., 9.25% Sec. Nts., 5/15/231 | 2,031,000 | 2,137,627 |
35 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||||
Capital Markets (Continued) | ||||||||||||
Refinitiv US Holdings, Inc.: | ||||||||||||
6.25% Sr. Sec. Nts., 5/15/261 | $ | 690,000 | $ | 701,212 | ||||||||
8.25% Sr. Unsec. Nts., 11/15/261 | 690,000 | 678,787 | ||||||||||
Rivers Pittsburgh Borrower LP/Rivers Pittsburgh Finance Corp., 6.125% Sr. Sec. Nts., 8/15/211 | 1,090,000 | 1,095,450 | ||||||||||
State Street Corp., 5.625% [US0003M+253.9] Jr. Sub. Perpetual Bonds2,15 | 1,479,000 | 1,490,958 | ||||||||||
Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 6.75% Sr. Unsec. Nts., 6/1/251 | 1,315,000 | 1,331,438 | ||||||||||
TerraForm Power Operating LLC: | ||||||||||||
4.25% Sr. Unsec. Nts., 1/31/231 | 965,000 | 958,235 | ||||||||||
5.00% Sr. Unsec. Nts., 1/31/281 | 290,000 | 280,938 | ||||||||||
Trident Merger Sub, Inc., 6.625% Sr. Unsec. Nts., 11/1/251 | 1,385,000 | 1,301,900 | ||||||||||
UBS Group Funding Switzerland AG: | ||||||||||||
6.875% [USISDA05+549.65] Jr. Sub. Perpetual Bonds2,4,15 | 7,625,000 | 7,827,787 | ||||||||||
7.00% [USSW5+434.4] Jr. Sub. Perpetual Bonds1,2,15 | 852,000 | 865,304 | ||||||||||
7.125% [USSW5+588.3] Jr. Sub. Perpetual Bonds2,4,15 | 1,941,000 | 2,020,125 | ||||||||||
58,307,260 | ||||||||||||
Commercial Banks7.1% | ||||||||||||
Abanca Corp. Bancaria SA, 6.125% [EUSA5+592.7] Sub. Nts., 1/18/292,4 | EUR | 3,500,000 | 3,956,179 | |||||||||
ABN AMRO Bank NV, 5.75% [EUSA5+545.2] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 4,950,000 | 5,760,976 | |||||||||
Astana Finance JSC, 9.16% Sr. Unsec. Nts., 3/14/128,13 | 1,186,225 | | ||||||||||
Australia & New Zealand Banking Group Ltd. (United Kingdom), 6.75% [USISDA05+516.8] Jr. Sub. Perpetual Bonds1,2,15 | 305,000 | 323,207 | ||||||||||
Banca Monte dei Paschi di Siena SpA, 5.375% | ||||||||||||
[EUSA5+500.5] Sub. Nts., 1/18/282,4 | EUR | 10,061,000 | 6,653,866 | |||||||||
Banco Bilbao Vizcaya Argentaria SA: | ||||||||||||
5.875% [EUSA5+566] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 5,310,000 | 5,799,801 | |||||||||
6.75% [EUSA5+660.4] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 11,220,000 | 12,925,581 | |||||||||
8.875% [EUSA5+917.7] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 4,305,000 | 5,323,251 | |||||||||
Banco Comercial Portugues SA, 4.50% [EUSA5+426.7] Sub. Nts., 12/7/272,4 | EUR | 1,770,000 | 1,915,151 | |||||||||
Banco do Brasil SA (Cayman): | ||||||||||||
3.875% Sr. Unsec. Nts., 10/10/22 | 3,650,000 | 3,618,062 | ||||||||||
4.75% Sr. Unsec. Nts., 3/20/241 | 2,562,000 | 2,572,248 | ||||||||||
Banco Mercantil del Norte SA (Grand Cayman), 7.625% [H15T10Y+535.3] Jr. Sub. Perpetual Bonds1,2,15 | 969,000 | 973,845 | ||||||||||
Banco Santander SA: | ||||||||||||
5.25% [EUSA5+499.9] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 3,545,000 | 3,796,066 | |||||||||
6.75% [EUSA5+680.3] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 7,220,000 | 8,608,869 | |||||||||
Bank of America Corp., 6.30% [US0003M+455.3] Jr. Sub. Perpetual Bonds2,15 | 3,792,000 | 4,122,643 | ||||||||||
Bank of China Ltd., 5.00% Sub. Nts., 11/13/241 | 2,560,000 | 2,707,333 | ||||||||||
Bankinter SA, 8.625% [EUSA5+886.7] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 3,255,000 | 4,073,784 |
36 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||||
Commercial Banks (Continued) | ||||||||||||
Barclays plc: | ||||||||||||
7.75% [USSW5+484.2] Jr. Sub. Perpetual Bonds2,15 | $ | 1,430,000 | $ | 1,433,268 | ||||||||
7.875% [USSW5+677.2] Jr. Sub. Perpetual Bonds2,4,15 | 3,140,000 | 3,254,261 | ||||||||||
8.00% [H15T5Y+567.2] Jr. Sub. Perpetual Bonds2,15 | 3,480,000 | 3,566,311 | ||||||||||
BBVA Bancomer SA, 5.35% [H15T5Y+300] Sub. Nts., 11/12/291,2 | 2,155,000 | 2,077,635 | ||||||||||
BNP Paribas SA: | ||||||||||||
6.625% [USSW5+414.9] Jr. Sub. Perpetual Bonds1,2,15 | 2,835,000 | 2,843,834 | ||||||||||
7.625% [USSW5+631.4] Jr. Sub. Perpetual Bonds1,2,15 | 3,950,000 | 4,144,103 | ||||||||||
7.625% [USSW5+631.4] Jr. Sub. Perpetual Bonds2,4,15 | 6,835,000 | 7,170,872 | ||||||||||
CaixaBank SA, 6.75% [EUSA5+649.8] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 10,630,000 | 12,415,014 | |||||||||
CIT Group, Inc.: | ||||||||||||
4.125% Sr. Unsec. Nts., 3/9/21 | 1,150,000 | 1,167,250 | ||||||||||
5.00% Sr. Unsec. Nts., 8/15/22 | 350,000 | 365,313 | ||||||||||
5.25% Sr. Unsec. Nts., 3/7/25 | 690,000 | 735,920 | ||||||||||
5.80% [US0003M+397.2] Jr. Sub. Perpetual Bonds2,15 | 3,352,000 | 3,323,424 | ||||||||||
Citigroup, Inc., 6.125% [US0003M+447.8] Jr. Sub. Perpetual Bonds2,15 | 2,453,000 | 2,503,017 | ||||||||||
Citizens Financial Group, Inc., 6.00% [US0003M+300.3] Jr. Sub. Perpetual Bonds2,15 | 1,610,000 | 1,601,588 | ||||||||||
Clear Channel Worldwide Holdings, Inc., 9.25% Sr. Sub. Nts., 2/15/241 | 1,385,000 | 1,471,563 | ||||||||||
Cooperatieve Rabobank UA, 6.625% [EUSA5+669.7] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 7,085,000 | 8,677,188 | |||||||||
Credit Agricole SA: | ||||||||||||
7.875% [USSW5+489.8] Jr. Sub. Perpetual Bonds2,4,15 | 710,000 | 764,093 | ||||||||||
8.125% [USSW5+618.5] Jr. Sub. Perpetual Bonds1,2,15 | 2,456,000 | 2,765,336 | ||||||||||
Credit Suisse AG, 6.50% Sub. Nts., 8/8/234 | 7,080,000 | 7,602,865 | ||||||||||
Fifth Third Bancorp, 5.10% [US0003M+303.33] Jr. Sub. Perpetual Bonds2,15 | 860,000 | 824,719 | ||||||||||
HSBC Holdings plc: | ||||||||||||
5.25% [EUSA5+438.3] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 12,785,000 | 15,186,651 | |||||||||
6.00% [EUSA5+533.8] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 4,255,000 | 5,328,758 | |||||||||
Huntington Bancshares, Inc., 5.70% [US0003M+288] Jr. Sub. Perpetual Bonds2,15 | 1,715,000 | 1,673,128 | ||||||||||
IDBI Bank Ltd. (GIFT-IFC), 5.00% Sr. Unsec. Nts., 9/25/194 | 1,040,000 | 1,042,798 | ||||||||||
ING Groep NV, 6.875% [USSW5+512.4] Jr. Sub. Perpetual Bonds2,4,15 | 4,075,000 | 4,211,834 | ||||||||||
Intesa Sanpaolo SpA, 7.70% [USSW5+546.15] Jr. Sub. Perpetual Bonds1,2,15 | 10,564,000 | 9,992,963 | ||||||||||
JPMorgan Chase & Co., 6.125% [US0003M+333] Jr. Sub. Perpetual Bonds2,15 | 3,124,000 | 3,278,279 | ||||||||||
Kenan Advantage Group, Inc. (The), 7.875% Sr. Unsec. Nts., 7/31/231 | 2,155,000 | 2,095,738 | ||||||||||
Lloyds Bank plc, 7.50% Sr. Unsec. Nts., 4/2/324,9 | 7,175,000 | 5,569,716 | ||||||||||
Lloyds Banking Group plc, 7.50% [USSW5+449.6] Jr. Sub. Perpetual Bonds2,15 | 3,002,000 | 3,048,966 | ||||||||||
NatWest Markets plc, 3.625% Sr. Unsec. Nts., 9/29/221 | 7,085,000 | 7,094,593 |
37 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||
Commercial Banks (Continued) | ||||||||||
Nordea Bank Abp, 6.625% [H15T5Y+411] Jr. Sub. Perpetual Bonds1,2,15 | $ | 2,126,000 | $ | 2,123,712 | ||||||
Novo Banco SA, 8.50% [EUSA5+823.3] Sub. Nts., 7/6/282,4 | EUR | 3,500,000 | 3,944,970 | |||||||
Royal Bank of Scotland Group plc, 7.50% [USSW5+580] Jr. Sub. Perpetual Bonds2,15 | 4,120,000 | 4,207,550 | ||||||||
Societe Generale SA: | ||||||||||
7.375% [USSW5+623.8] Jr. Sub. Perpetual Bonds1,2,15 | 11,225,000 | 11,603,844 | ||||||||
8.00% [USISDA05+587.3] Jr. Sub. Perpetual Bonds1,2,15 | 3,535,000 | 3,759,278 | ||||||||
SunTrust Banks, Inc.: | ||||||||||
5.05% [US0003M+310.2] Jr. Sub. Perpetual Bonds2,15 | 2,546,000 | 2,495,780 | ||||||||
5.125% [US0003M+278.6] Jr. Sub. Perpetual Bonds2,15 | 1,780,000 | 1,674,864 | ||||||||
Swiss Insured Brazil Power Finance Sarl, 9.85% Sr. Sec. Nts., 7/16/32 | BRL | 12,250,000 | 3,285,147 | |||||||
Turkiye Vakiflar Bankasi TAO, 8.125% Sr. Unsec. Nts., 3/28/241 | 2,550,000 | 2,409,648 | ||||||||
UBS Group Funding Switzerland AG: | ||||||||||
5.00% [USSW5+243.2] Jr. Sub. Perpetual Bonds2,4,15 | 1,095,000 | 956,118 | ||||||||
5.75% [EUSA5+528.7] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 5,300,000 | 6,497,769 | |||||||
UniCredit SpA: | ||||||||||
6.625% [EUSA5+638.7] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 1,060,000 | 1,159,329 | |||||||
6.75% [EUSA5+610] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 1,060,000 | 1,172,534 | |||||||
Wachovia Capital Trust III, 5.57% [US0003M+93] Jr. Sub. Perpetual Bonds2,15 | 3,394,000 | 3,355,054 | ||||||||
249,007,457 | ||||||||||
Consumer Finance1.1% | ||||||||||
Ahern Rentals, Inc., 7.375% Sec. Nts., 5/15/231 | 1,545,000 | 1,431,056 | ||||||||
Ally Financial, Inc.: | ||||||||||
4.625% Sr. Unsec. Nts., 5/19/22 | 1,200,000 | 1,227,000 | ||||||||
5.75% Sub. Nts., 11/20/25 | 2,170,000 | 2,319,426 | ||||||||
8.00% Sr. Unsec. Nts., 11/1/31 | 1,140,000 | 1,420,725 | ||||||||
American Express Co., 4.90% [US0003M+328.5] Jr. Sub. Perpetual Bonds2,15 | 2,499,000 | 2,475,197 | ||||||||
Colfax Corp.: | ||||||||||
6.00% Sr. Unsec. Nts., 2/15/241 | 1,380,000 | 1,442,100 | ||||||||
6.375% Sr. Unsec. Nts., 2/15/261 | 690,000 | 735,278 | ||||||||
Comstock Resources, Inc., 9.75% Sr. Unsec. Nts., 8/15/261 | 695,000 | 642,875 | ||||||||
Credit Acceptance Corp., 6.625% Sr. Unsec. Nts., 3/15/261 | 1,390,000 | 1,414,325 | ||||||||
Discover Financial Services, 5.50% [US0003M+307.6] Jr. Sub. Perpetual Bonds2,15 | 1,673,000 | 1,591,818 | ||||||||
Dresdner Funding Trust I, 8.151% Jr. Sub. Nts., 6/30/314 | 2,125,000 | 2,691,638 | ||||||||
Enova International, Inc., 8.50% Sr. Unsec. Nts., 9/15/251 | 1,280,000 | 1,201,600 | ||||||||
Lions Gate Capital Holdings LLC, 6.375% Sr. Unsec. Nts., 2/1/241 | 690,000 | 724,500 | ||||||||
MGM Growth Properties Operating Partnership LP/MGP Finance Co.-Issuer, Inc., 5.75% Sr. Unsec. Nts., 2/1/271 | 690,000 | 715,012 | ||||||||
Minejesa Capital BV, 4.625% Sr. Sec. Nts., 8/10/303 | 3,070,000 | 2,986,659 | ||||||||
Navient Corp.: | ||||||||||
5.875% Sr. Unsec. Nts., 10/25/24 | 1,973,000 | 1,918,742 |
38 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||
Consumer Finance (Continued) | ||||||||||
Navient Corp.: (Continued) | ||||||||||
6.50% Sr. Unsec. Nts., 6/15/22 | $ | 1,425,000 | $ | 1,488,680 | ||||||
6.625% Sr. Unsec. Nts., 7/26/21 | 1,475,000 | 1,545,062 | ||||||||
6.75% Sr. Unsec. Nts., 6/25/25 | 1,865,000 | 1,853,903 | ||||||||
6.75% Sr. Unsec. Nts., 6/15/26 | 1,050,000 | 1,008,000 | ||||||||
Springleaf Finance Corp., 6.125% Sr. Unsec. Nts., 3/15/24 | 1,385,000 | 1,419,597 | ||||||||
Termocandelaria Power Ltd., 7.875% Sr. Unsec. Nts., 1/30/291 | 1,270,000 | 1,344,625 | ||||||||
Terraform Global Operating LLC, 6.125% Sr. Unsec. Nts., 3/1/261 | 2,110,000 | 2,062,525 | ||||||||
TMX Finance LLC/TitleMax Finance Corp., 11.125% Sr. Sec. Nts., 4/1/231 | 710,000 | 670,063 | ||||||||
Vistra Operations Co. LLC, 5.625% Sr. Unsec. Nts., 2/15/271 | 1,395,000 | 1,454,288 | ||||||||
37,784,694 | ||||||||||
Diversified Financial Services0.5% | ||||||||||
Export-Import Bank of India, 7.35% Sr. Unsec. Nts., 5/18/22 | INR | 180,000,000 | 2,585,748 | |||||||
Fidelity & Guaranty Life Holdings, Inc., 5.50% Sr. Unsec. Nts., 5/1/251 | 985,000 | 993,619 | ||||||||
JP Morgan/Hipotecaria su Casita, 6.47% Sec. Nts., 8/26/351,8 | MXN | 20,232,960 | 99,027 | |||||||
Park Aerospace Holdings Ltd.: | ||||||||||
5.25% Sr. Unsec. Nts., 8/15/221 | 355,000 | 364,727 | ||||||||
5.50% Sr. Unsec. Nts., 2/15/241 | 1,380,000 | 1,435,200 | ||||||||
Rural Electrification Corp. Ltd.: | ||||||||||
7.24% Sr. Unsec. Nts., 10/21/21 | INR | 360,000,000 | 5,161,067 | |||||||
7.60% Sr. Unsec. Nts., 4/17/21 | INR | 350,000,000 | 5,067,207 | |||||||
Voya Financial, Inc., 4.70% [US0003M+208.4] Jr. Sub. Nts., 1/23/482 | 1,760,000 | 1,519,282 | ||||||||
17,225,877 | ||||||||||
Insurance0.9% | ||||||||||
AXA SA, 3.875% [EUSA11+325] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 7,175,000 | 8,614,515 | |||||||
Genworth Holdings, Inc.: | ||||||||||
7.625% Sr. Unsec. Nts., 9/24/21 | 650,000 | 630,500 | ||||||||
7.70% Sr. Unsec. Nts., 6/15/20 | 1,040,000 | 1,042,579 | ||||||||
Hartford Financial Services Group, Inc. (The), 4.809% [US0003M+212.5] Jr. Sub. Nts., 2/12/472,3 | 1,790,000 | 1,546,515 | ||||||||
Lincoln National Corp., 5.04% [US0003M+235.75] Jr. Sub. Nts., 5/17/662 | 1,507,000 | 1,298,243 | ||||||||
MetLife, Inc., 5.875% [US0003M+295.9] Jr. Sub. Perpetual Bonds2,15 | 1,400,000 | 1,443,435 | ||||||||
NN Group NV, 4.375% [EUR003M+390] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 3,535,000 | 4,202,600 | |||||||
Power Finance Corp. Ltd.: | ||||||||||
7.27% Sr. Unsec. Nts., 12/22/21 | INR | 360,000,000 | 5,105,327 | |||||||
7.42% Sr. Unsec. Nts., 6/26/20 | INR | 107,000,000 | 1,541,486 | |||||||
7.50% Sr. Unsec. Nts., 8/16/21 | INR | 360,000,000 | 5,139,516 | |||||||
30,564,716 |
39 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||||
Real Estate Investment Trusts (REITs)0.7% |
|
|||||||||||
Banco Invex SA/Hipotecaria Credito y Casa SA de CV, 6.45% Sec. Nts., 3/13/348,11,13 | MXN | 17,961,653 | $ | | ||||||||
Brookfield Residential Properties, Inc. / Brookfield Residential US Corp., 6.125% Sr. Unsec. Nts., 7/1/221 | 695,000 | 701,081 | ||||||||||
Equinix, Inc.: |
|
|||||||||||
5.375% Sr. Unsec. Nts., 5/15/27 |
|
1,865,000 | 1,958,250 | |||||||||
5.875% Sr. Unsec. Nts., 1/15/26 |
|
2,155,000 | 2,275,572 | |||||||||
GLP Capital LP/GLP Financing II, Inc., 5.375% Sr. Unsec. Nts., 11/1/23 |
|
1,040,000 | 1,098,698 | |||||||||
Iron Mountain US Holdings, Inc., 5.375% Sr. Unsec. Nts., 6/1/261 |
|
2,515,000 | 2,489,850 | |||||||||
Iron Mountain, Inc., 4.875% Sr. Unsec. Nts., 9/15/271 |
|
1,055,000 | 1,018,075 | |||||||||
iStar, Inc.: |
|
|||||||||||
5.25% Sr. Unsec. Nts., 9/15/22 |
|
2,135,000 | 2,108,312 | |||||||||
6.00% Sr. Unsec. Nts., 4/1/22 |
|
2,840,000 | 2,857,750 | |||||||||
Lamar Media Corp., 5.75% Sr. Unsec. Nts., 2/1/26 |
|
1,250,000 | 1,310,937 | |||||||||
MPT Operating Partnership LP/MPT Finance Corp.: |
|
|||||||||||
5.00% Sr. Unsec. Nts., 10/15/27 |
|
1,395,000 | 1,422,900 | |||||||||
6.375% Sr. Unsec. Nts., 3/1/24 |
|
635,000 | 665,163 | |||||||||
Outfront Media Capital LLC/Outfront Media Capital Corp., 5.875% Sr. Unsec. Nts., 3/15/25 |
|
1,610,000 | 1,654,275 | |||||||||
SBA Communications Corp., 4.00% Sr. Unsec. Nts., 10/1/22 |
|
1,580,000 | 1,593,588 | |||||||||
Starwood Property Trust, Inc.: |
|
|||||||||||
4.75% Sr. Unsec. Nts., 3/15/25 |
|
2,125,000 | 2,119,688 | |||||||||
5.00% Sr. Unsec. Nts., 12/15/21 |
|
2,175,000 | 2,240,250 | |||||||||
Uniti Group LP/Uniti Group Finance, Inc./CSL Capital LLC, 8.25% Sr. Unsec. Nts., 10/15/23 |
|
1,155,000 | 1,048,162 | |||||||||
26,562,551 | ||||||||||||
Real Estate Management & Development1.4% |
|
|||||||||||
Agile Group Holdings Ltd., 9.00% Sr. Sec. Nts., 5/21/204 |
|
6,610,000 | 6,829,875 | |||||||||
China Aoyuan Group Ltd., 7.50% Sr. Sec. Nts., 5/10/214 |
|
3,544,000 | 3,643,310 | |||||||||
CIFI Holdings Group Co. Ltd.: |
|
|||||||||||
7.625% Sr. Unsec. Nts., 3/2/214 |
|
9,746,000 | 10,081,272 | |||||||||
7.75% Sr. Unsec. Nts., 6/5/204 |
|
3,915,000 | 4,017,264 | |||||||||
Country Garden Holdings Co. Ltd., 7.50% Sr. Sec. Nts., 3/9/204 |
|
3,915,000 | 3,995,531 | |||||||||
Greystar Real Estate Partners LLC, 5.75% Sr. Sec. Nts., 12/1/251 |
|
905,000 | 909,525 | |||||||||
Mattamy Group Corp., 6.875% Sr. Unsec. Nts., 12/15/231 | 1,105,000 | 1,132,625 | ||||||||||
New Metro Global Ltd., 6.50% Sr. Unsec. Nts., 4/23/214 |
|
1,230,000 | 1,243,610 | |||||||||
Realogy Group LLC/Realogy Co.-Issuer Corp., 9.375% Sr. Unsec. Nts., 4/1/271 |
|
695,000 | 713,244 | |||||||||
Times China Holdings Ltd.: |
|
|||||||||||
6.25% Sr. Sec. Nts., 1/23/204 |
|
1,230,000 | 1,236,680 | |||||||||
7.85% Sr. Sec. Nts., 6/4/214 |
|
11,518,000 | 11,842,278 | |||||||||
Yuzhou Properties Co. Ltd., 6.375% Sr. Sec. Nts., 3/6/214 |
|
3,544,000 | 3,556,071 | |||||||||
49,201,285 |
40 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||
Thrifts & Mortgage Finance0.5% | ||||||||||
Export-Import Bank of India, 8.00% Sr. Unsec. Nts., 5/27/21 | INR | 720,000,000 | $ | 10,498,343 | ||||||
LIC Housing Finance Ltd., 7.45% Sr. Sec. Nts., 10/17/22 | INR | 180,000,000 | 2,563,288 | |||||||
Nationstar Mortgage Holdings, Inc., 8.125% Sr. Unsec. Nts., 7/15/231 | 1,050,000 | 1,084,125 | ||||||||
Quicken Loans, Inc.: | ||||||||||
5.25% Sr. Unsec. Nts., 1/15/281 | 1,285,000 | 1,207,900 | ||||||||
5.75% Sr. Unsec. Nts., 5/1/251 | 1,535,000 | 1,546,513 | ||||||||
Radian Group, Inc., 4.50% Sr. Unsec. Nts., 10/1/24 | 1,310,000 | 1,296,900 | ||||||||
18,197,069 | ||||||||||
Health Care2.4% | ||||||||||
Biotechnology0.0% | ||||||||||
WeWork Cos, Inc., 7.875% Sr. Unsec. Nts., 5/1/251 | 2,090,000 | 1,933,250 | ||||||||
Health Care Equipment & Supplies0.1% | ||||||||||
Hill-Rom Holdings, Inc., 5.75% Sr. Unsec. Nts., 9/1/231 | 1,065,000 | 1,102,275 | ||||||||
Hologic, Inc., 4.375% Sr. Unsec. Nts., 10/15/251 | 1,075,000 | 1,074,785 | ||||||||
2,177,060 | ||||||||||
Health Care Providers & Services1.5% | ||||||||||
Acadia Healthcare Co., Inc.: | ||||||||||
5.625% Sr. Unsec. Nts., 2/15/23 | 560,000 | 566,300 | ||||||||
6.50% Sr. Unsec. Nts., 3/1/24 | 730,000 | 751,900 | ||||||||
Centene Corp.: | ||||||||||
4.75% Sr. Unsec. Nts., 5/15/22 | 1,650,000 | 1,683,000 | ||||||||
5.375% Sr. Unsec. Nts., 6/1/261 | 1,945,000 | 2,032,525 | ||||||||
6.125% Sr. Unsec. Nts., 2/15/24 | 1,405,000 | 1,473,915 | ||||||||
CHS/Community Health Systems, Inc.: | ||||||||||
6.25% Sr. Sec. Nts., 3/31/23 | 3,060,000 | 2,884,050 | ||||||||
6.875% Sr. Unsec. Nts., 2/1/22 | 914,000 | 612,380 | ||||||||
8.00% Sr. Sec. Nts., 3/15/261 | 1,390,000 | 1,333,427 | ||||||||
DaVita, Inc.: | ||||||||||
5.00% Sr. Unsec. Nts., 5/1/25 | 700,000 | 673,400 | ||||||||
5.125% Sr. Unsec. Nts., 7/15/24 | 3,215,000 | 3,182,850 | ||||||||
Encompass Health Corp., 5.75% Sr. Unsec. Nts., 11/1/24 | 1,900,000 | 1,930,875 | ||||||||
Envision Healthcare Corp., 8.75% Sr. Unsec. Nts., 10/15/261 | 1,530,000 | 1,367,437 | ||||||||
HCA, Inc.: | ||||||||||
5.375% Sr. Unsec. Nts., 2/1/25 | 1,745,000 | 1,854,062 | ||||||||
5.375% Sr. Unsec. Nts., 9/1/26 | 2,775,000 | 2,927,625 | ||||||||
5.50% Sr. Sec. Nts., 6/15/47 | 1,000,000 | 1,068,680 | ||||||||
5.625% Sr. Unsec. Nts., 9/1/28 | 3,125,000 | 3,312,500 | ||||||||
5.875% Sr. Unsec. Nts., 2/15/26 | 700,000 | 757,750 | ||||||||
7.50% Sr. Unsec. Nts., 2/15/22 | 2,640,000 | 2,917,992 | ||||||||
OCP SA, 4.50% Sr. Unsec. Nts., 10/22/251 | 2,345,000 | 2,327,267 | ||||||||
Omnicare, Inc., 4.75% Sr. Unsec. Nts., 12/1/22 | 5,295,000 | 5,574,119 | ||||||||
RegionalCare Hospital Partners Holdings, Inc./LifePoint | ||||||||||
Health, Inc., 9.75% Sr. Unsec. Nts., 12/1/261 | 1,990,000 | 2,069,600 | ||||||||
Select Medical Corp., 6.375% Sr. Unsec. Nts., 6/1/21 | 2,040,000 | 2,050,200 |
41 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Health Care Providers & Services (Continued) | ||||||||
Tenet Healthcare Corp.: | ||||||||
4.375% Sr. Sec. Nts., 10/1/21 | $ | 1,430,000 | $ | 1,462,032 | ||||
6.25% Sec. Nts., 2/1/271 | 690,000 | 716,738 | ||||||
6.75% Sr. Unsec. Nts., 6/15/23 | 2,870,000 | 2,966,863 | ||||||
8.125% Sr. Unsec. Nts., 4/1/22 | 1,740,000 | 1,878,504 | ||||||
TPC Group, Inc., 8.75% Sr. Sec. Nts., 12/15/201 | 1,055,000 | 1,044,450 | ||||||
51,420,441 | ||||||||
Health Care Technology0.1% | ||||||||
Telenet Finance Luxembourg Notes Sarl, 5.50% Sr. Sec. Nts., 3/1/281 | 2,125,000 | 2,094,194 | ||||||
Life Sciences Tools & Services0.0% | ||||||||
West Street Merger Sub, Inc., 6.375% Sr. Unsec. Nts., 9/1/251 | 1,100,000 | 1,075,250 | ||||||
Pharmaceuticals0.7% | ||||||||
Bausch Health Americas, Inc., 8.50% Sr. Unsec. Nts., 1/31/271 | 1,765,000 | 1,875,313 | ||||||
Bausch Health Cos., Inc.: | ||||||||
5.50% Sr. Unsec. Nts., 3/1/231 | 428,000 | 431,672 | ||||||
5.50% Sr. Sec. Nts., 11/1/251 | 1,675,000 | 1,716,875 | ||||||
5.75% Sr. Sec. Nts., 8/15/271 | 695,000 | 714,112 | ||||||
5.875% Sr. Unsec. Nts., 5/15/231 | 1,314,000 | 1,332,067 | ||||||
6.125% Sr. Unsec. Nts., 4/15/251 | 2,225,000 | 2,208,313 | ||||||
7.00% Sr. Sec. Nts., 3/15/241 | 1,535,000 | 1,627,868 | ||||||
9.00% Sr. Unsec. Nts., 12/15/251 | 2,490,000 | 2,714,225 | ||||||
Endo Dac/Endo Finance LLC/Endo Finco, Inc.: | ||||||||
5.875% Sr. Sec. Nts., 10/15/241 | 710,000 | 700,237 | ||||||
6.00% Sr. Unsec. Nts., 7/15/231 | 3,285,000 | 2,545,875 | ||||||
6.00% Sr. Unsec. Nts., 2/1/251 | 1,305,000 | 952,650 | ||||||
Mallinckrodt International Finance SA/Mallinckrodt CB LLC: | ||||||||
4.875% Sr. Unsec. Nts., 4/15/201 | 1,345,000 | 1,345,000 | ||||||
5.50% Sr. Unsec. Nts., 4/15/251 | 1,375,000 | 1,079,375 | ||||||
5.625% Sr. Unsec. Nts., 10/15/231 | 690,000 | 576,150 | ||||||
5.75% Sr. Unsec. Nts., 8/1/221 | 1,170,000 | 1,105,650 | ||||||
Prestige Brands, Inc., 6.375% Sr. Unsec. Nts., 3/1/241 | 845,000 | 864,012 | ||||||
Teva Pharmaceutical Finance Co. BV, 3.65% Sr. Unsec. Nts., 11/10/21 | 915,000 | 897,303 | ||||||
Teva Pharmaceutical Finance Netherlands III BV: | ||||||||
1.70% Sr. Unsec. Nts., 7/19/19 | 245,000 | 244,480 | ||||||
3.15% Sr. Unsec. Nts., 10/1/26 | 700,000 | 572,992 | ||||||
6.00% Sr. Unsec. Nts., 4/15/24 | 2,055,000 | 2,064,051 | ||||||
25,568,220 | ||||||||
Industrials3.4% | ||||||||
Aerospace & Defense0.4% | ||||||||
Arconic, Inc., 5.125% Sr. Unsec. Nts., 10/1/24 | 1,420,000 | 1,457,722 | ||||||
Bombardier, Inc.: | ||||||||
6.00% Sr. Unsec. Nts., 10/15/221 | 985,000 | 998,544 | ||||||
7.50% Sr. Unsec. Nts., 12/1/241 | 2,095,000 | 2,181,419 |
42 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Aerospace & Defense (Continued) | ||||||||
Bombardier, Inc.: (Continued) 7.50% Sr. Unsec. Nts., 3/15/251 |
$ | 1,435,000 | $ | 1,483,431 | ||||
7.875% Sr. Unsec. Nts., 4/15/271 | 1,390,000 | 1,435,175 | ||||||
DAE Funding LLC, 4.50% Sr. Unsec. Nts., 8/1/221 | 1,360,000 | 1,375,300 | ||||||
Kratos Defense & Security Solutions, Inc., 6.50% Sr. Sec. Nts., 11/30/251 | 1,065,000 | 1,124,906 | ||||||
TransDigm, Inc.: | ||||||||
6.25% Sr. Sec. Nts., 3/15/261 | 690,000 | 717,600 | ||||||
6.375% Sr. Sub. Nts., 6/15/26 | 1,590,000 | 1,579,824 | ||||||
6.50% Sr. Sub. Nts., 7/15/24 | 1,420,000 | 1,464,375 | ||||||
Triumph Group, Inc., 5.25% Sr. Unsec. Nts., 6/1/22 | 590,000 | 569,350 | ||||||
14,387,646 | ||||||||
Air Freight & Couriers0.1% | ||||||||
XPO Logistics, Inc.: | ||||||||
6.125% Sr. Unsec. Nts., 9/1/231 | 700,000 | 707,000 | ||||||
6.75% Sr. Unsec. Nts., 8/15/241 | 1,390,000 | 1,421,275 | ||||||
2,128,275 | ||||||||
Airlines0.2% | ||||||||
American Airlines Group, Inc., 4.625% Sr. Unsec. Nts., 3/1/201 | 1,635,000 | 1,650,369 | ||||||
GOL Equity Finance SA, 3.75% Cv. Sr. Unsec. Nts., 7/15/241 | 765,000 | 722,024 | ||||||
Gol Finance, Inc., 7.00% Sr. Unsec. Nts., 1/31/251 | 1,240,000 | 1,154,750 | ||||||
United Continental Holdings, Inc., 4.25% Sr. Unsec. Nts., 10/1/22 | 2,135,000 | 2,143,668 | ||||||
5,670,811 | ||||||||
Building Products0.1% | ||||||||
JELD-WEN, Inc.: | ||||||||
4.625% Sr. Unsec. Nts., 12/15/251 | 325,000 | 309,563 | ||||||
4.875% Sr. Unsec. Nts., 12/15/271 | 315,000 | 297,675 | ||||||
Standard Industries, Inc., 5.375% Sr. Unsec. Nts., 11/15/241 | 2,230,000 | 2,294,112 | ||||||
2,901,350 | ||||||||
Commercial Services & Supplies0.6% | ||||||||
ACCO Brands Corp., 5.25% Sr. Unsec. Nts., 12/15/241 | 2,035,000 | 1,999,387 | ||||||
Affinion Group, Inc., 12.50% Sr. Unsec. Nts., 11/10/223,14 | 2,530,536 | 1,695,459 | ||||||
ARD Finance SA, 7.125% Sr. Sec. Nts., 9/15/2314 | 1,395,000 | 1,396,744 | ||||||
Brinks Co. (The), 4.625% Sr. Unsec. Nts., 10/15/271 | 2,080,000 | 2,017,600 | ||||||
Clean Harbors, Inc., 5.125% Sr. Unsec. Nts., 6/1/21 | 2,095,000 | 2,102,856 | ||||||
Covanta Holding Corp.: | ||||||||
5.875% Sr. Unsec. Nts., 3/1/24 | 1,150,000 | 1,181,625 | ||||||
5.875% Sr. Unsec. Nts., 7/1/25 | 665,000 | 679,131 | ||||||
6.00% Sr. Unsec. Nts., 1/1/27 | 1,380,000 | 1,383,450 | ||||||
GFL Environmental, Inc., 5.625% Sr. Unsec. Nts., 5/1/221 | 1,590,000 | 1,546,275 | ||||||
Hulk Finance Corp., 7.00% Sr. Unsec. Nts., 6/1/261 | 1,580,000 | 1,501,000 | ||||||
RR Donnelley & Sons Co., 7.875% Sr. Unsec. Nts., 3/15/21 | 939,000 | 968,344 | ||||||
TMS International Corp., 7.25% Sr. Unsec. Nts., 8/15/251 | 710,000 | 689,424 | ||||||
Waste Pro USA, Inc., 5.50% Sr. Unsec. Nts., 2/15/261 | 325,000 | 314,438 |
43 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Commercial Services & Supplies (Continued) | ||||||||
West Corp.: | ||||||||
5.375% Sr. Unsec. Nts., 7/15/221 | $ | 1,815,000 | $ | 1,837,688 | ||||
8.50% Sr. Unsec. Nts., 10/15/251 | 1,780,000 | 1,539,700 | ||||||
20,853,121 | ||||||||
Construction & Engineering0.1% | ||||||||
AECOM, 5.125% Sr. Unsec. Nts., 3/15/27 | 1,420,000 | 1,379,175 | ||||||
Fideicomiso PA Pacifico Tres, 8.25% Sr. Sec. Nts., 1/15/351 | 1,255,000 | 1,358,538 | ||||||
New Enterprise Stone & Lime Co., Inc., 6.25% Sr. Sec. Nts., 3/15/261 | 700,000 | 682,577 | ||||||
Tutor Perini Corp., 6.875% Sr. Unsec. Nts., 5/1/251 | 1,290,000 | 1,288,555 | ||||||
4,708,845 | ||||||||
Electrical Equipment0.1% | ||||||||
Sensata Technologies BV, 5.625% Sr. Unsec. Nts., 11/1/241 | 2,165,000 | 2,316,550 | ||||||
Vertiv Group Corp., 9.25% Sr. Unsec. Nts., 10/15/241 | 1,595,000 | 1,595,000 | ||||||
Vertiv Intermediate Holding Corp., 12.00% Sr. Unsec. Nts., 2/15/221,14 | 1,385,000 | 1,341,719 | ||||||
5,253,269 | ||||||||
Industrial Conglomerates0.4% | ||||||||
General Electric Co., 5.00% [US0003M+333] Jr. Sub. Perpetual Bonds2,15 | 6,627,000 | 6,186,470 | ||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 5.875% Sr. Unsec. Nts., 2/1/22 | 900,000 | 914,517 | ||||||
KOC Holding AS, 6.50% Sr. Unsec. Nts., 3/11/251 | 3,750,000 | 3,638,254 | ||||||
Tupras Turkiye Petrol Rafinerileri AS, 4.50% Sr. Unsec. Nts., 10/18/241 | 1,175,000 | 1,037,966 | ||||||
Turkiye Sise ve Cam Fabrikalari AS, 6.95% Sr. Unsec. Nts., 3/14/261 | 1,635,000 | 1,583,873 | ||||||
Wind Tre SpA, 5.00% Sr. Sec. Nts., 1/20/26 | 1,635,000 | 1,496,025 | ||||||
14,857,105 | ||||||||
Machinery0.4% | ||||||||
Allison Transmission, Inc.: | ||||||||
5.00% Sr. Unsec. Nts., 10/1/241 | 1,455,000 | 1,456,819 | ||||||
5.875% Sr. Unsec. Nts., 6/1/291 | 695,000 | 704,602 | ||||||
Amsted Industries, Inc., 5.00% Sr. Unsec. Nts., 3/15/221 | 2,235,000 | 2,251,762 | ||||||
Icahn Enterprises LP/Icahn Enterprises Finance Corp., 6.75% Sr. Unsec. Nts., 2/1/24 | 1,385,000 | 1,449,056 | ||||||
Manitowoc Co., Inc. (The), 9.00% Sec. Nts., 4/1/261 | 1,390,000 | 1,410,850 | ||||||
Meritor, Inc., 6.25% Sr. Unsec. Nts., 2/15/24 | 385,000 | 397,512 | ||||||
Navistar International Corp., 6.625% Sr. Unsec. Nts., 11/1/251 | 2,090,000 | 2,134,413 | ||||||
Terex Corp., 5.625% Sr. Unsec. Nts., 2/1/251 | 1,430,000 | 1,424,638 | ||||||
Titan International, Inc., 6.50% Sr. Sec. Nts., 11/30/233 | 1,955,000 | 1,810,819 | ||||||
Wabash National Corp., 5.50% Sr. Unsec. Nts., 10/1/251 | 710,000 | 665,625 | ||||||
13,706,096 |
44 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||||
Professional Services0.1% | ||||||||||||
Brand Industrial Services, Inc., 8.50% Sr. Unsec. Nts., 7/15/251 | $ | 1,970,000 | $ | 1,777,925 | ||||||||
Nielsen Finance LLC/Nielsen Finance Co., 5.00% Sr. Unsec. Nts., 4/15/221 | 700,000 | 696,500 | ||||||||||
2,474,425 | ||||||||||||
Road & Rail0.2% | ||||||||||||
Algeco Global Finance plc, 8.00% Sr. Sec. Nts., 2/15/231 | 705,000 | 710,287 | ||||||||||
Avis Budget Car Rental LLC/Avis Budget Finance, Inc., 5.25% Sr. Unsec. Nts., 3/15/251 | 1,335,000 | 1,279,931 | ||||||||||
DAE Funding LLC, 4.00% Sr. Unsec. Nts., 8/1/201 | 710,000 | 713,550 | ||||||||||
Hertz Corp. (The): | ||||||||||||
5.50% Sr. Unsec. Nts., 10/15/241 | 1,030,000 | 869,063 | ||||||||||
5.875% Sr. Unsec. Nts., 10/15/20 | 1,585,000 | 1,586,585 | ||||||||||
7.375% Sr. Unsec. Nts., 1/15/21 | 710,000 | 710,000 | ||||||||||
7.625% Sec. Nts., 6/1/221 | 1,285,000 | 1,318,410 | ||||||||||
7,187,826 | ||||||||||||
Trading Companies & Distributors0.5% | ||||||||||||
American Builders & Contractors Supply Co., Inc., 5.75% Sr. Unsec. Nts., 12/15/231 | 680,000 | 699,550 | ||||||||||
Fly Leasing Ltd., 5.25% Sr. Unsec. Nts., 10/15/24 | 1,425,000 | 1,375,125 | ||||||||||
H&E Equipment Services, Inc., 5.625% Sr. Unsec. Nts., 9/1/25 | 1,950,000 | 1,952,437 | ||||||||||
Herc Rentals, Inc., 7.50% Sec. Nts., 6/1/221 | 1,236,000 | 1,291,620 | ||||||||||
ILFC E-Capital Trust I, 4.57% [30YR CMT+155] Jr. Sub. Nts., 12/21/651,2 | 3,473,000 | 2,748,793 | ||||||||||
National Bank for Agriculture & Rural Development, 8.39% Sr. Unsec. Nts., 7/19/21 | INR | 145,000,000 | 2,126,176 | |||||||||
Standard Industries, Inc., 6.00% Sr. Unsec. Nts., 10/15/251 | 1,755,000 | 1,846,418 | ||||||||||
United Rentals North America, Inc.: | ||||||||||||
4.875% Sr. Unsec. Nts., 1/15/28 | 1,753,000 | 1,709,526 | ||||||||||
5.875% Sr. Unsec. Nts., 9/15/26 | 2,700,000 | 2,801,250 | ||||||||||
6.50% Sr. Unsec. Nts., 12/15/26 | 1,380,000 | 1,455,900 | ||||||||||
18,006,795 | ||||||||||||
Transportation Infrastructure0.2% | ||||||||||||
DP World plc, 5.625% Sr. Unsec. Nts., 9/25/481 | 2,450,000 | 2,556,021 | ||||||||||
GMR Hyderabad International Airport Ltd., 4.25% Sr. Sec. Nts., 10/27/271 | 2,430,000 | 2,213,667 | ||||||||||
Jasa Marga Persero Tbk PT, 7.50% Sr. Unsec. Nts., 12/11/201 | IDR | 24,180,000,000 | 1,654,532 | |||||||||
6,424,220 | ||||||||||||
Information Technology1.7% | ||||||||||||
Communications Equipment0.3% | ||||||||||||
Chaparral Energy, Inc., 8.75% Sr. Unsec. Nts., 7/15/231 | 1,040,000 | 717,600 | ||||||||||
CommScope Technologies LLC, 6.00% Sr. Unsec. Nts., 6/15/251 | 1,545,000 | 1,507,843 | ||||||||||
HTA Group Ltd., 9.125% Sr. Unsec. Nts., 3/8/223 | 1,175,000 | 1,229,529 | ||||||||||
Infor US, Inc., 6.50% Sr. Unsec. Nts., 5/15/22 | 2,415,000 | 2,457,263 | ||||||||||
Plantronics, Inc., 5.50% Sr. Unsec. Nts., 5/31/231 | 1,100,000 | 1,105,500 |
45 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Communications Equipment (Continued) | ||||||||
Riverbed Technology, Inc., 8.875% Sr. Unsec. Nts., 3/1/231 | $ | 875,000 | $ | 669,375 | ||||
ViaSat, Inc.: | ||||||||
5.625% Sr. Unsec. Nts., 9/15/251 | 710,000 | 683,375 | ||||||
5.625% Sr. Sec. Nts., 4/15/271 | 1,040,000 | 1,063,238 | ||||||
9,433,723 | ||||||||
Electronic Equipment, Instruments, & Components0.1% | ||||||||
APX Group, Inc., 7.875% Sr. Sec. Nts., 12/1/22 | 700,000 | 705,180 | ||||||
CDW LLC/CDW Finance Corp., 5.00% Sr. Unsec. Nts., 9/1/23 | 1,120,000 | 1,149,400 | ||||||
TTM Technologies, Inc., 5.625% Sr. Unsec. Nts., 10/1/251 | 2,135,000 | 2,057,606 | ||||||
3,912,186 | ||||||||
Internet Software & Services0.1% | ||||||||
Rackspace Hosting, Inc., 8.625% Sr. Unsec. Nts., 11/15/241 | 2,990,000 | 2,671,206 | ||||||
IT Services0.5% | ||||||||
Alliance Data Systems Corp., 5.375% Sr. Unsec. Nts., 8/1/221 | 700,000 | 711,725 | ||||||
Booz Allen Hamilton, Inc., 5.125% Sr. Unsec. Nts., 5/1/251 | 645,000 | 646,613 | ||||||
Everi Payments, Inc., 7.50% Sr. Unsec. Nts., 12/15/251 | 2,460,000 | 2,558,400 | ||||||
Exela Intermediate LLC/Exela Finance, Inc., 10.00% Sr. Sec. Nts., 7/15/231 | 1,860,000 | 1,900,920 | ||||||
First Data Corp.: | ||||||||
5.00% Sr. Sec. Nts., 1/15/241 | 1,215,000 | 1,244,919 | ||||||
5.75% Sec. Nts., 1/15/241 | 2,245,000 | 2,316,840 | ||||||
Gartner, Inc., 5.125% Sr. Unsec. Nts., 4/1/251 | 2,160,000 | 2,188,512 | ||||||
GTT Communications, Inc., 7.875% Sr. Unsec. Nts., 12/31/241 | 350,000 | 308,000 | ||||||
Harland Clarke Holdings Corp., 6.875% Sr. Sec. Nts., 3/1/201 | 1,970,000 | 1,950,300 | ||||||
Sabre GLBL, Inc., 5.25% Sr. Sec. Nts., 11/15/231 | 1,950,000 | 1,998,750 | ||||||
VeriSign, Inc., 4.75% Sr. Unsec. Nts., 7/15/27 | 1,115,000 | 1,119,315 | ||||||
16,944,294 | ||||||||
Semiconductors & Semiconductor Equipment0.0% | ||||||||
Qorvo, Inc., 5.50% Sr. Unsec. Nts., 7/15/261 | 1,400,000 | 1,449,140 | ||||||
Versum Materials, Inc., 5.50% Sr. Unsec. Nts., 9/30/241 | 725,000 | 763,969 | ||||||
2,213,109 | ||||||||
Software0.5% | ||||||||
Dell International LLC/EMC Corp.: | ||||||||
4.42% Sr. Sec. Nts., 6/15/211 | 7,084,000 | 7,271,576 | ||||||
7.125% Sr. Unsec. Nts., 6/15/241 | 1,720,000 | 1,823,896 | ||||||
Informatica LLC, 7.125% Sr. Unsec. Nts., 7/15/231 | 1,300,000 | 1,330,875 | ||||||
j2 Cloud Services LLC/j2 Global Co.-Obligor, Inc., 6.00% Sr. Unsec. Nts., 7/15/251 | 2,140,000 | 2,230,950 | ||||||
Symantec Corp., 5.00% Sr. Unsec. Nts., 4/15/251 | 1,385,000 | 1,388,832 | ||||||
TIBCO Software, Inc., 11.375% Sr. Unsec. Nts., 12/1/211 | 1,625,000 | 1,730,828 | ||||||
Uber Technologies, Inc.: | ||||||||
7.50% Sr. Unsec. Nts., 11/1/231 | 690,000 | 721,050 | ||||||
8.00% Sr. Unsec. Nts., 11/1/261 | 690,000 | 736,575 |
46 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Software (Continued) | ||||||||
Veritas US, Inc./Veritas Bermuda Ltd., 7.50% Sr. Sec. Nts., 2/1/231 | $ | 2,550,000 | $ | 2,448,000 | ||||
19,682,582 | ||||||||
Technology Hardware, Storage & Peripherals0.2% | ||||||||
Banff Merger Sub, Inc., 9.75% Sr. Unsec. Nts., 9/1/261 | 2,080,000 | 2,022,800 | ||||||
Harland Clarke Holdings Corp., 8.375% Sr. Sec. Nts., 8/15/221 | 2,505,000 | 2,271,283 | ||||||
NCR Corp., 6.375% Sr. Unsec. Nts., 12/15/23 | 1,235,000 | 1,272,890 | ||||||
Western Digital Corp., 4.75% Sr. Unsec. Nts., 2/15/26 | 1,400,000 | 1,338,750 | ||||||
6,905,723 | ||||||||
Materials3.5% | ||||||||
Chemicals1.2% | ||||||||
Ashland LLC: | ||||||||
4.75% Sr. Unsec. Nts., 8/15/22 | 690,000 | 712,425 | ||||||
6.875% Sr. Unsec. Nts., 5/15/43 | 685,000 | 712,400 | ||||||
Avantor, Inc.: | ||||||||
6.00% Sr. Sec. Nts., 10/1/241 | 1,050,000 | 1,092,000 | ||||||
9.00% Sr. Unsec. Nts., 10/1/251 | 1,730,000 | 1,879,212 | ||||||
Blue Cube Spinco LLC, 9.75% Sr. Unsec. Nts., 10/15/23 | 690,000 | 769,350 | ||||||
Celanese US Holdings LLC, 5.875% Sr. Unsec. Nts., 6/15/21 | 3,441,000 | 3,622,554 | ||||||
CF Industries, Inc.: | ||||||||
3.40% Sr. Sec. Nts., 12/1/211 | 6,265,000 | 6,269,623 | ||||||
5.15% Sr. Unsec. Nts., 3/15/34 | 640,000 | 611,200 | ||||||
Chemours Co. (The), 6.625% Sr. Unsec. Nts., 5/15/23 | 411,000 | 426,449 | ||||||
Consolidated Energy Finance SA, 6.50% Sr. Unsec. Nts., 5/15/261 | 700,000 | 700,000 | ||||||
CVR Partners LP/CVR Nitrogen Finance Corp., 9.25% Sec. Nts., 6/15/231 | 500,000 | 525,625 | ||||||
Element Solutions, Inc., 5.875% Sr. Unsec. Nts., 12/1/251 | 755,000 | 760,549 | ||||||
Hexion, Inc.: | ||||||||
6.625% Sr. Sec. Nts., 4/15/20 | 2,495,000 | 2,089,562 | ||||||
10.375% Sr. Sec. Nts., 2/1/221 | 635,000 | 534,987 | ||||||
Koppers, Inc., 6.00% Sr. Unsec. Nts., 2/15/251 | 1,445,000 | 1,419,712 | ||||||
Kraton Polymers LLC/Kraton Polymers Capital Corp., 7.00% Sr. Unsec. Nts., 4/15/251 | 720,000 | 730,800 | ||||||
LSB Industries, Inc., 9.625% Sr. Sec. Nts., 5/1/231 | 350,000 | 364,070 | ||||||
Mexichem SAB de CV, 4.875% Sr. Unsec. Nts., 9/19/221 | 3,545,000 | 3,691,231 | ||||||
NOVA Chemicals Corp.: | ||||||||
4.875% Sr. Unsec. Nts., 6/1/241 | 715,000 | 705,169 | ||||||
5.25% Sr. Unsec. Nts., 8/1/231 | 635,000 | 640,556 | ||||||
Olin Corp.: | ||||||||
5.00% Sr. Unsec. Nts., 2/1/30 | 630,000 | 619,763 | ||||||
5.125% Sr. Unsec. Nts., 9/15/27 | 675,000 | 685,969 | ||||||
Petkim Petrokimya Holding AS, 5.875% Sr. Unsec. Nts., 1/26/231 | 2,015,000 | 1,842,730 | ||||||
PQ Corp.: | ||||||||
5.75% Sr. Unsec. Nts., 12/15/251 | 710,000 | 694,913 | ||||||
6.75% Sr. Sec. Nts., 11/15/221 | 690,000 | 718,463 |
47 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||||
Chemicals (Continued) | ||||||||||||
Rain CII Carbon LLC/CII Carbon Corp., 7.25% Sec. Nts., 4/1/251 | $ | 1,885,000 | $ | 1,677,650 | ||||||||
Starfruit Finco BV/Starfruit US Holdco LLC: | ||||||||||||
6.50% Sr. Unsec. Nts., 10/1/261 | EUR | 3,545,000 | 3,997,644 | |||||||||
8.00% Sr. Unsec. Nts., 10/1/261 | 1,035,000 | 1,047,938 | ||||||||||
Tronox Finance plc, 5.75% Sr. Unsec. Nts., 10/1/251 | 1,420,000 | 1,322,375 | ||||||||||
Venator Finance Sarl/Venator Materials LLC, 5.75% Sr. Unsec. Nts., 7/15/251 | 1,925,000 | 1,698,813 | ||||||||||
42,563,732 | ||||||||||||
Construction Materials0.2% | ||||||||||||
CIMPOR Financial Operations BV, 5.75% Sr. Unsec. Nts., 7/17/241 | 5,150,000 | 4,564,239 | ||||||||||
James Hardie International Finance DAC, 4.75% Sr. Unsec. Nts., 1/15/251 | 360,000 | 356,400 | ||||||||||
Summit Materials LLC/Summit Materials Finance Corp., 5.125% Sr. Unsec. Nts., 6/1/251 | 715,000 | 691,762 | ||||||||||
US Concrete, Inc., 6.375% Sr. Unsec. Nts., 6/1/24 | 1,460,000 | 1,489,200 | ||||||||||
7,101,601 | ||||||||||||
Containers & Packaging0.8% | ||||||||||||
ARD Securities Finance Sarl, 8.75% Sr. Sec. Nts., 1/31/231,14 | 2,308,402 | 2,198,753 | ||||||||||
Ball Corp., 4.375% Sr. Unsec. Nts., 12/15/20 | 3,540,000 | 3,601,950 | ||||||||||
BWAY Holding Co.: | ||||||||||||
5.50% Sr. Sec. Nts., 4/15/241 | 700,000 | 697,585 | ||||||||||
7.25% Sr. Unsec. Nts., 4/15/251 | 1,395,000 | 1,350,527 | ||||||||||
Crown Americas LLC/Crown Americas Capital Corp. IV, 4.50% Sr. Unsec. Nts., 1/15/23 | 1,325,000 | 1,341,562 | ||||||||||
Crown Americas LLC/Crown Americas Capital Corp. VI, 4.75% Sr. Unsec. Nts., 2/1/26 | 705,000 | 710,146 | ||||||||||
Flex Acquisition Co., Inc., 7.875% Sr. Unsec. Nts., 7/15/261 | 1,400,000 | 1,354,500 | ||||||||||
Graphic Packaging International LLC, 4.75% Sr. Unsec. Nts., 4/15/21 | 3,540,000 | 3,597,525 | ||||||||||
Greif, Inc., 6.50% Sr. Unsec. Nts., 3/1/271 | 690,000 | 707,250 | ||||||||||
Intertape Polymer Group, Inc., 7.00% Sr. Unsec. Nts., 10/15/261 | 1,380,000 | 1,417,950 | ||||||||||
OI European Group BV, 4.00% Sr. Unsec. Nts., 3/15/231 | 1,420,000 | 1,396,925 | ||||||||||
Owens-Brockway Glass Container, Inc., 5.00% Sr. Unsec. Nts., 1/15/221 | 1,360,000 | 1,399,100 | ||||||||||
Plastipak Holdings, Inc., 6.25% Sr. Unsec. Nts., 10/15/251 | 2,135,000 | 2,006,900 | ||||||||||
Reynolds Group Issuer, Inc./Reynolds Group Issuer LLC/Reynolds Group Issuer Luxembourg SA: |
|
|||||||||||
5.125% Sr. Sec. Nts., 7/15/231 | 1,885,000 | 1,917,988 | ||||||||||
7.00% Sr. Unsec. Nts., 7/15/241 | 2,050,000 | 2,115,600 | ||||||||||
Sealed Air Corp.: | ||||||||||||
4.875% Sr. Unsec. Nts., 12/1/221 | 1,440,000 | 1,491,466 | ||||||||||
6.875% Sr. Unsec. Nts., 7/15/331 | 705,000 | 764,925 | ||||||||||
28,070,652 |
48 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||
Metals & Mining1.2% | ||||||||
AK Steel Corp.: | ||||||||
6.375% Sr. Unsec. Nts., 10/15/25 | $ | 1,910,000 | $ | 1,594,850 | ||||
7.00% Sr. Unsec. Nts., 3/15/27 | 965,000 | 813,302 | ||||||
Alcoa Nederland Holding BV: | ||||||||
6.125% Sr. Unsec. Nts., 5/15/281 | 1,120,000 | 1,156,400 | ||||||
6.75% Sr. Unsec. Nts., 9/30/241 | 710,000 | 754,375 | ||||||
7.00% Sr. Unsec. Nts., 9/30/261 | 690,000 | 747,353 | ||||||
Aleris International, Inc., 10.75% Sec. Nts., 7/15/231 | 700,000 | 736,750 | ||||||
Allegheny Technologies, Inc., 7.875% Sr. Unsec. Nts., 8/15/23 | 1,425,000 | 1,549,687 | ||||||
ArcelorMittal: | ||||||||
6.75% Sr. Unsec. Nts., 3/1/41 | 680,000 | 760,373 | ||||||
7.00% Sr. Unsec. Nts., 10/15/39 | 345,000 | 393,963 | ||||||
Coeur Mining, Inc., 5.875% Sr. Unsec. Nts., 6/1/24 | 2,145,000 | 2,072,606 | ||||||
Constellium NV, 6.625% Sr. Unsec. Nts., 3/1/251 | 1,445,000 | 1,477,512 | ||||||
Eldorado Gold Corp., 6.125% Sr. Unsec. Nts., 12/15/201 | 1,370,000 | 1,344,244 | ||||||
Ferroglobe plc/Globe Specialty Metals, Inc., 9.375% Sr. Unsec. Nts., 3/1/221 | 1,685,000 | 1,457,525 | ||||||
First Quantum Minerals Ltd.: | ||||||||
6.875% Sr. Unsec. Nts., 3/1/261 | 1,220,000 | 1,136,125 | ||||||
7.00% Sr. Unsec. Nts., 2/15/211 | 182,000 | 185,412 | ||||||
7.25% Sr. Unsec. Nts., 4/1/231 | 2,160,000 | 2,116,800 | ||||||
Freeport-McMoRan, Inc.: | ||||||||
4.00% Sr. Unsec. Nts., 11/14/21 | 7,080,000 | 7,141,950 | ||||||
4.55% Sr. Unsec. Nts., 11/14/24 | 1,345,000 | 1,321,462 | ||||||
5.40% Sr. Unsec. Nts., 11/14/34 | 765,000 | 699,975 | ||||||
5.45% Sr. Unsec. Nts., 3/15/43 | 620,000 | 545,606 | ||||||
Hudbay Minerals, Inc., 7.625% Sr. Unsec. Nts., 1/15/251 | 2,080,000 | 2,142,400 | ||||||
JSW Steel Ltd., 4.75% Sr. Unsec. Nts., 11/12/194 | 2,370,000 | 2,375,546 | ||||||
Kinross Gold Corp., 4.50% Sr. Unsec. Nts., 7/15/27 | 1,010,000 | 962,025 | ||||||
Metinvest BV, 7.75% Sr. Unsec. Nts., 4/23/231 | 1,150,000 | 1,128,282 | ||||||
Mountain Province Diamonds, Inc., 8.00% Sec. Nts., 12/15/221 | 490,000 | 490,613 | ||||||
Northwest Acquisitions ULC/Dominion Finco, Inc., 7.125% Sec. Nts., 11/1/221 | 1,035,000 | 913,388 | ||||||
Southern Copper Corp., 7.50% Sr. Unsec. Nts., 7/27/35 | 1,270,000 | 1,602,994 | ||||||
SunCoke Energy Partners LP/SunCoke Energy Partners Finance Corp., 7.50% Sr. Unsec. Nts., 6/15/251 | 890,000 | 903,350 | ||||||
Teck Resources Ltd., 5.20% Sr. Unsec. Nts., 3/1/42 | 1,655,000 | 1,602,846 | ||||||
United States Steel Corp.: | ||||||||
6.25% Sr. Unsec. Nts., 3/15/26 | 345,000 | 323,900 | ||||||
6.875% Sr. Unsec. Nts., 8/15/25 | 1,810,000 | 1,778,325 | ||||||
Zekelman Industries, Inc., 9.875% Sr. Sec. Nts., 6/15/231 | 700,000 | 745,938 | ||||||
42,975,877 | ||||||||
Paper & Forest Products0.1% | ||||||||
Louisiana-Pacific Corp., 4.875% Sr. Unsec. Nts., 9/15/24 | 440,000 | 440,000 | ||||||
Mercer International, Inc.: | ||||||||
5.50% Sr. Unsec. Nts., 1/15/26 | 655,000 | 645,175 |
49 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Paper & Forest Products (Continued) | ||||||||
Mercer International, Inc.: (Continued) | ||||||||
6.50% Sr. Unsec. Nts., 2/1/24 | $ | 315,000 | $ | 323,663 | ||||
1,408,838 | ||||||||
Telecommunication Services2.5% | ||||||||
Diversified Telecommunication Services1.3% | ||||||||
Axtel SAB de CV, 6.375% Sr. Unsec. Nts., 11/14/241 | 2,440,000 | 2,448,418 | ||||||
CenturyLink, Inc.: | ||||||||
5.625% Sr. Unsec. Nts., 4/1/25 | 2,150,000 | 2,085,500 | ||||||
Series Q, 6.15% Sr. Unsec. Nts., 9/15/19 | 635,000 | 642,144 | ||||||
Series S, 6.45% Sr. Unsec. Nts., 6/15/21 | 1,235,000 | 1,289,031 | ||||||
Series Y, 7.50% Sr. Unsec. Nts., 4/1/24 | 1,815,000 | 1,923,900 | ||||||
Cincinnati Bell, Inc., 8.00% Sr. Unsec. Nts., 10/15/251 | 710,000 | 651,425 | ||||||
Digicel International Finance Ltd. / Digicel Holdings Bermuda Ltd., 8.75% Sr. Sec. Nts., 5/25/241 | 695,000 | 688,050 | ||||||
Eldorado Resorts, Inc., 6.00% Sr. Unsec. Nts., 9/15/26 | 1,040,000 | 1,060,800 | ||||||
Frontier Communications Corp.: | ||||||||
8.00% Sr. Sec. Nts., 4/1/271 | 2,085,000 | 2,157,975 | ||||||
8.50% Sec. Nts., 4/1/261 | 1,950,000 | 1,815,937 | ||||||
8.75% Sr. Unsec. Nts., 4/15/22 | 1,565,000 | 1,118,975 | ||||||
10.50% Sr. Unsec. Nts., 9/15/22 | 1,775,000 | 1,362,312 | ||||||
GCI LLC, 6.75% Sr. Unsec. Nts., 6/1/21 | 350,000 | 352,187 | ||||||
Intelsat Connect Finance SA, 9.50% Sr. Unsec. Nts., 2/15/231 | 1,045,000 | 930,364 | ||||||
Intelsat Jackson Holdings SA: | ||||||||
5.50% Sr. Unsec. Nts., 8/1/23 | 475,000 | 423,938 | ||||||
8.00% Sr. Sec. Nts., 2/15/241 | 1,335,000 | 1,395,075 | ||||||
8.50% Sr. Unsec. Nts., 10/15/241 | 1,390,000 | 1,358,725 | ||||||
9.75% Sr. Unsec. Nts., 7/15/251 | 2,140,000 | 2,183,442 | ||||||
Intelsat Luxembourg SA, 7.75% Sr. Unsec. Nts., 6/1/21 | 1,385,000 | 1,249,097 | ||||||
Level 3 Financing, Inc., 5.25% Sr. Unsec. Nts., 3/15/26 | 2,850,000 | 2,850,000 | ||||||
Oi SA, 10.00% Sr. Unsec. Nts., 7/27/2514 | 6,060,000 | 6,414,510 | ||||||
Qwest Capital Funding, Inc., 7.75% Sr. Unsec. Nts., 2/15/31 | 720,000 | 653,400 | ||||||
Qwest Corp., 6.875% Sr. Unsec. Nts., 9/15/33 | 2,155,000 | 2,149,010 | ||||||
Telecom Italia SpA, 5.303% Sr. Unsec. Nts., 5/30/241 | 1,045,000 | 1,054,144 | ||||||
T-Mobile USA, Inc.: | ||||||||
4.00% Sr. Unsec. Nts., 4/15/22 | 1,865,000 | 1,890,644 | ||||||
5.125% Sr. Unsec. Nts., 4/15/25 | 830,000 | 852,825 | ||||||
6.00% Sr. Unsec. Nts., 4/15/24 | 1,450,000 | 1,515,250 | ||||||
Windstream Services LLC/Windstream Finance Corp., 8.625% Sr. Sec. Nts., 10/31/25 | 1,299,000 | 1,238,921 | ||||||
Zayo Group LLC/Zayo Capital, Inc.: | ||||||||
5.75% Sr. Unsec. Nts., 1/15/271 | 715,000 | 715,215 | ||||||
6.00% Sr. Unsec. Nts., 4/1/23 | 1,910,000 | 1,943,425 | ||||||
46,414,639 | ||||||||
Wireless Telecommunication Services1.2% | ||||||||
Bharti Airtel Ltd., 4.375% Sr. Unsec. Nts., 6/10/251 | 1,280,000 | 1,262,509 | ||||||
C&W Senior Financing DAC, 6.875% Sr. Unsec. Nts., 9/15/271 | 1,430,000 | 1,440,725 |
50 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Principal Amount | Value | |||||||||||
Wireless Telecommunication Services (Continued) | ||||||||||||
Fortress Transportation & Infrastructure Investors LLC, 6.50% Sr. Unsec. Nts., 10/1/251 | $ | 2,080,000 | $ | 2,059,200 | ||||||||
Gogo Intermediate Holdings LLC/Gogo Finance Co., Inc., 12.50% Sr. Sec. Nts., 7/1/221 | 350,000 | 378,875 | ||||||||||
GTH Finance BV, 7.25% Sr. Unsec. Nts., 4/26/231 | 2,260,000 | 2,414,900 | ||||||||||
Springleaf Finance Corp.: | ||||||||||||
6.125% Sr. Unsec. Nts., 5/15/22 | 1,875,000 | 1,950,000 | ||||||||||
6.875% Sr. Unsec. Nts., 3/15/25 | 1,390,000 | 1,438,650 | ||||||||||
7.125% Sr. Unsec. Nts., 3/15/26 | 2,080,000 | 2,121,590 | ||||||||||
8.25% Sr. Unsec. Nts., 12/15/20 | 1,465,000 | 1,576,706 | ||||||||||
Sprint Capital Corp., 6.875% Sr. Unsec. Nts., 11/15/28 | 2,650,479 | 2,554,399 | ||||||||||
Sprint Communications, Inc.: | ||||||||||||
6.00% Sr. Unsec. Nts., 11/15/22 | 3,581,000 | 3,617,884 | ||||||||||
7.00% Sr. Unsec. Nts., 3/1/201 | 2,100,000 | 2,160,375 | ||||||||||
Sprint Corp.: | ||||||||||||
7.125% Sr. Unsec. Nts., 6/15/24 | 5,470,000 | 5,565,725 | ||||||||||
7.625% Sr. Unsec. Nts., 3/1/26 | 2,100,000 | 2,136,750 | ||||||||||
7.875% Sr. Unsec. Nts., 9/15/23 | 5,445,000 | 5,730,862 | ||||||||||
Telefonica Europe BV, 5.875% [EUSA10+430.1] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 3,590,000 | 4,486,472 | |||||||||
Trilogy International Partners LLC/Trilogy International Finance, Inc., 8.875% Sr. Sec. Nts., 5/1/221 | 1,760,000 | 1,711,600 | ||||||||||
Vodafone Group plc, 7.00% [USSW5+487.3] Sub. Nts., 4/4/792,7 | 540,000 | 549,425 | ||||||||||
43,156,647 | ||||||||||||
Utilities0.9% | ||||||||||||
Electric Utilities0.2% | ||||||||||||
Eskom Holdings SOC Ltd., 6.75% Sr. Unsec. Nts., 8/6/231 | 2,285,000 | 2,260,781 | ||||||||||
Inkia Energy Ltd., 5.875% Sr. Unsec. Nts., 11/9/271 | 2,145,000 | 2,102,121 | ||||||||||
NextEra Energy Capital Holdings, Inc., 4.80% [US0003M+240.9] Jr. Sub. Nts., 12/1/772 | 1,703,000 | 1,526,313 | ||||||||||
NextEra Energy Operating Partners LP, 4.50% Sr. Unsec. Nts., 9/15/271 | 360,000 | 352,350 | ||||||||||
6,241,565 | ||||||||||||
Gas Utilities0.2% | ||||||||||||
AmeriGas Partners LP/AmeriGas Finance Corp., 5.50% Sr. Unsec. Nts., 5/20/25 | 1,400,000 | 1,401,750 | ||||||||||
Naturgy Finance BV, 4.125% [EUSA8+335.3] Jr. Sub. Perpetual Bonds2,4,15 | EUR | 3,590,000 | 4,275,960 | |||||||||
Suburban Propane Partners LP/Suburban Energy Finance Corp., 5.875% Sr. Unsec. Nts., 3/1/27 | 1,800,000 | 1,714,500 | ||||||||||
Superior Plus LP/Superior General Partner, Inc., 7.00% Sr. Unsec. Nts., 7/15/261 | 700,000 | 714,875 | ||||||||||
8,107,085 |
51 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||
Independent Power and Renewable Electricity Producers0.4% | ||||||||
AES Andres BV/Dominican Power Partners/Empresa Generadora de Electricidad Itabo SA, 7.95% Sr. Unsec. Nts., 5/11/261 | $ | 1,230,000 | $ | 1,311,487 | ||||
AES Corp.: | ||||||||
4.00% Sr. Unsec. Nts., 3/15/21 | 700,000 | 711,137 | ||||||
6.00% Sr. Unsec. Nts., 5/15/26 | 915,000 | 974,457 | ||||||
Calpine Corp.: | ||||||||
5.25% Sr. Sec. Nts., 6/1/261 | 2,240,000 | 2,237,200 | ||||||
5.75% Sr. Unsec. Nts., 1/15/25 | 1,745,000 | 1,740,638 | ||||||
5.875% Sr. Sec. Nts., 1/15/241 | 705,000 | 724,387 | ||||||
Clearway Energy Operating LLC, 5.75% Sr. Unsec. Nts., 10/15/251 | 690,000 | 695,175 | ||||||
Drax Finco plc, 6.625% Sr. Sec. Nts., 11/1/251 | 700,000 | 712,250 | ||||||
NRG Energy, Inc.: | ||||||||
6.625% Sr. Unsec. Nts., 1/15/27 | 1,780,000 | 1,922,400 | ||||||
7.25% Sr. Unsec. Nts., 5/15/26 | 1,250,000 | 1,379,925 | ||||||
Vistra Operations Co. LLC, 5.50% Sr. Unsec. Nts., 9/1/261 | 695,000 | 724,538 | ||||||
13,133,594 | ||||||||
Multi-Utilities0.1% | ||||||||
Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 6.25% Sr. Unsec. Nts., 4/1/23 | 455,000 | 468,650 | ||||||
NGPL PipeCo LLC: | ||||||||
4.875% Sr. Unsec. Nts., 8/15/271 | 1,070,000 | 1,084,713 | ||||||
7.768% Sr. Unsec. Nts., 12/15/371 | 530,000 | 638,650 | ||||||
Rockpoint Gas Storage Canada Ltd., 7.00% Sr. Sec. Nts., 3/31/231 | 940,000 | 936,475 | ||||||
3,128,488 | ||||||||
Total Corporate Bonds and Notes (Cost $1,541,466,249) | 1,481,619,829 | |||||||
Shares | ||||||||
Preferred Stocks0.8% | ||||||||
American Homes 4 Rent, 6.35% Cum., Non-Vtg. | 6,190 | 161,559 | ||||||
Citizens Financial Group, Inc., 6.35% Non-Cum., Series D, Non-Vtg. [US0003M+364.2]2 | 25,594 | 671,842 | ||||||
Claires Holdings LLC, 0.00%, Series A16 | 163 | 25,808 | ||||||
Digital Realty Trust, Inc., 6.625% Cum., Series C, Non-Vtg. | 9,500 | 249,660 | ||||||
DTE Energy Co., 5.375% Jr. Sub., Non-Vtg. | 47,611 | 1,195,988 | ||||||
eBay, Inc., 6.00% Cv. | 66,625 | 1,749,572 | ||||||
Fifth Third Bancorp, 6.625% Non-Cum., Non-Vtg. [US0003M+371]2 | 46,950 | 1,265,302 | ||||||
GMAC Capital Trust I, 7.20% Jr. Sub., Non-Vtg. [US0003M+578.5]2 | 116,898 | 3,044,024 | ||||||
Goldman Sachs Group, Inc. (The), 6.30% Non-Cum., Series N, Non-Vtg. | 63,775 | 1,661,977 | ||||||
Huntington Bancshares, Inc., 6.25% Non-Cum., Non-Vtg. | 45,200 | 1,181,076 | ||||||
JPMorgan Chase & Co., 6% Non-Cum., Series EE, Non-Vtg.16 | 56,200 | 1,487,614 | ||||||
KeyCorp, 6.125% Non-Cum., Non-Vtg. [US0003M+389.2]2 | 122,600 | 3,268,516 | ||||||
Morgan Stanley, 5.85% Non-Cum., Non-Vtg. [US0003M+349.1]2 | 49,549 | 1,266,968 |
52 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Shares | Value | |||||||
Preferred Stocks (Continued) | ||||||||
Morgan Stanley, 6.375% Non-Cum., Non-Vtg. [US0003M+370.8]2 | 49,000 | $ | 1,307,320 | |||||
NiSource, Inc., 6.50%, Non-Vtg. [H15T5Y+363.2]2 | 39,588 | 1,043,144 | ||||||
PNC Financial Services Group, Inc. (The), 6.125% Non-Cum., Non-Vtg. [US0003M+406.7]2 | 51,471 | 1,379,423 | ||||||
Prudential Financial, Inc., 5.75% Jr. Sub. | 3,425 | 86,995 | ||||||
Public Storage, 5.20% Cum., Series X, Non-Vtg. | 57,850 | 1,437,573 | ||||||
Qwest Corp., 7.00% Sr. Unsec. | 40,370 | 1,049,620 | ||||||
Senior Housing Properties Trust, 5.625% Sr. Unsec. | 23,325 | 540,674 | ||||||
Senior Housing Properties Trust, 6.25% Sr. Unsec., Non-Vtg. | 16,613 | 441,241 | ||||||
Synovus Financial Corp., 6.30% Non-Cum., Series D, Non-Vtg. [US0003M+335.2]2 | 44,846 | 1,162,408 | ||||||
US Bancorp, 6.50% Non-Cum., Non-Vtg. [US0003M+446.8]2 | 88,360 | 2,366,281 | ||||||
Wells Fargo & Co., 6.625% Non-Cum., Non-Vtg. [US0003M+369]2 |
9,725 | 268,702 | ||||||
Total Preferred Stocks (Cost $28,823,360) | 28,313,287 | |||||||
Common Stocks0.1% | ||||||||
Advanced Micro Devices, Inc.16 | 17,786 | 453,899 | ||||||
Alcoa Corp.16 | 3,560 | 100,250 | ||||||
Arco Capital Corp. Ltd.1,8,16,17 | 2,494,716 | | ||||||
Claires Holdings LLC16 | 614 | 414,450 | ||||||
Concho Resources, Inc. | 4,408 | 489,111 | ||||||
CVS Health Corp. | 9,670 | 521,503 | ||||||
Freeport-McMoRan, Inc. | 16,551 | 213,342 | ||||||
Intelsat SA16 | 51,580 | 807,743 | ||||||
International Game Technology plc | 45,954 | 596,942 | ||||||
JSC Astana Finance, GDR1,8,16 | 1,681,847 | | ||||||
Micron Technology, Inc.16 | 11,248 | 464,880 | ||||||
Premier Holdings Ltd.8,16 | 1,088,661 | | ||||||
Quicksilver Resources, Inc.8,16 | 12,760,000 | | ||||||
Sabine Oil8,16 | 2,510 | 72,790 | ||||||
Targa Resources Corp. | 3,562 | 148,001 | ||||||
Teck Resources Ltd., Cl. B | 19,419 | 450,132 | ||||||
Western Digital Corp. | 9,742 | 468,200 | ||||||
XPO Logistics, Inc.16 | 4,109 | 220,818 | ||||||
Total Common Stocks (Cost $19,189,182) | 5,422,061 | |||||||
Units | ||||||||
Rights, Warrants and Certificates0.0% | ||||||||
Affinion Group Wts., Strike Price $1, Exp. 11/10/228,16 | 26,104 | 44,338 | ||||||
Sabine Oil Tranche 1 Wts., Strike Price $4.49, Exp. 8/11/268,16 | 7,821 | 33,239 | ||||||
Sabine Oil Tranche 2 Wts., Strike Price $2.72, Exp. 8/11/268,16 | 1,643 | 5,751 | ||||||
Total Rights, Warrants and Certificates (Cost $1,287,577) | 83,328 | |||||||
Principal Amount | ||||||||
Structured Securities0.6% | ||||||||
Deutsche Bank AG, Coriolanus Ltd. Sec. Credit Linked Bonds: | ||||||||
3.003% Sr. Sec. Nts., 4/30/251,12 | $ | 2,337,006 | 2,126,792 | |||||
3.054% Sr. Sec. Nts., 4/30/251,12 | 2,977,705 | 2,709,860 |
53 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Principal Amount | Value | |||||||||
Structured Securities (Continued) | ||||||||||
Deutsche Bank AG, Coriolanus Ltd. Sec. Credit Linked Bonds: (Continued) | ||||||||||
3.098% Sr. Sec. Nts., 4/30/251,12 | $ | 2,570,771 | $ | 2,339,530 | ||||||
3.131% Sr. Sec. Nts., 4/30/251,12 | 2,297,945 | 2,091,244 | ||||||||
3.179% Sr. Sec. Nts., 4/30/251,12 | 2,861,128 | 2,603,769 | ||||||||
3.231% Sr. Sec. Nts., 4/30/251,12 | 3,265,544 | 2,971,807 | ||||||||
3.265% Sr. Sec. Nts., 4/30/251,12 | 2,608,787 | 2,374,126 | ||||||||
3.346% Sr. Sec. Nts., 4/30/251,12 | 2,452,148 | 2,231,577 | ||||||||
Morgan Stanley, Russian Federation Total Return Linked | ||||||||||
Bonds, Series 007, Cl. VR, 5.00%, 8/22/348 | RUB | 82,959,369 | 254,956 | |||||||
Total Structured Securities (Cost $21,002,011) | 19,703,661 | |||||||||
Short-Term Notes0.8% | ||||||||||
Arab Republic of Egypt Treasury Bills, 17.657%, 8/6/1912 | EGP | 245,300,000 | 13,479,214 | |||||||
Argentine Republic Treasury Bills: | ||||||||||
0.00%, 4/30/19-6/28/1912 | ARS | 532,700,000 | 13,792,306 | |||||||
Total Short-Term Notes (Cost $29,421,316) | 27,271,520 |
Counter- party |
Exercise Price |
Expiration Date |
Notional Amount (000s) |
Contracts (000s) |
||||||||||||||||||||||||
Over-the-Counter Options Purchased1.0% |
|
|||||||||||||||||||||||||||
AUD | ||||||||||||||||||||||||||||
AUD Currency Call16 | BOA | USD | 0.717 | 6/3/19 | |
AUD 200,000 |
|
64,500 | 585,481 | |||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | JPM | BRL | 3.200 | 4/25/19 | BRL 482,560 | 112,000 | 1,568 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | CITNA-B | BRL | 3.200 | 4/25/19 | BRL 512,000 | 112,000 | 1,568 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Put16 | GSCO-OT | BRL | 3.430 | 3/30/20 | BRL 10,000 | 3,543 | 761,839 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | JPM | BRL | 3.000 | 5/16/19 | BRL 5,000 | 1,450 | 687 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | GSCO-OT | BRL | 3.150 | 5/20/19 | BRL 5,000 | 1,076 | 807 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | JPM | BRL | 3.150 | 5/20/19 | BRL 5,000 | 1,076 | 807 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Put16 | GSCO-OT | BRL | 3.430 | 3/30/20 | BRL 10,000 | 3,543 | 761,839 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Put16 | GSCO-OT | BRL | 3.432 | 3/27/20 | BRL 10,500 | 3,540 | 761,696 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | JPM | BRL | 3.354 | 9/25/19 | BRL 5,150 | 1,400 | 62,900 |
54 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Counter- party |
Exercise Price |
Expiration Date |
Notional Amount (000s) |
Contracts (000s) |
Value | |||||||||||||||||||||||
Over-the-Counter Options Purchased (Continued) |
|
|||||||||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16,19 | JPM | BRL | 3.200 | 10/17/19 | BRL 32,000 | 3,586 | $ | 85,981 | ||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | GSCO-OT | BRL | 3.629 | 5/2/19 | BRL 362,850 | 128,449 | 22,964 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Put16 | GSCO-OT | BRL | 3.350 | 12/6/19 | BRL 5,000 | 1,414 | 120,371 | |||||||||||||||||||||
BRL | ||||||||||||||||||||||||||||
BRL Currency Call16 | GSCO-OT | BRL | 3.400 | 12/10/19 | BRL 5,300 | 1,414 | 177,979 | |||||||||||||||||||||
CAD | ||||||||||||||||||||||||||||
CAD Currency Call16 | RBC | CAD | 1.310 | 5/21/19 | |
CAD 250,000 |
|
88,500 | 170,375 | |||||||||||||||||||
CLP | ||||||||||||||||||||||||||||
CLP Currency Call16 | CITNA-B | CLP | 642.000 | 5/2/19 | |
CLP 96,300,000 |
|
27,252,900 | 19,077 | |||||||||||||||||||
CLP | ||||||||||||||||||||||||||||
CLP Currency Call16 | GSCO-OT | CLP | 641.000 | 8/5/19 | |
CLP 128,200,000 |
|
24,999,000 | 151,744 | |||||||||||||||||||
CLP | ||||||||||||||||||||||||||||
CLP Currency Call16 | CITNA-B | CLP | 643.700 | 11/4/19 | |
CLP 64,370,000 |
|
45,456,000 | 636,384 | |||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Put16 | GSCO-OT | NOK | 8.360 | 1/6/21 | EUR 12,500 | 8,850 | 666,697 | |||||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Put16 | GSCO-OT | NOK | 8.648 | 1/6/21 | EUR 12,500 | 8,850 | 1,313,492 | |||||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Put16 | CITNA-B | ZAR | 16.450 | 6/27/19 | |
EUR 200,000 |
|
70,900 | 2,382,441 | |||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Call16 | SCB | USD | 1.180 | 4/4/19 | |
EUR 300,000 |
|
210,000 | 2,717 | |||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Put16 | JPM | ZAR | 16.378 | 1/6/20 | |
EUR 75,000 |
|
17,700 | 630,118 | |||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Call16 | CITNA-B | USD | 1.168 | 5/9/19 | |
EUR 600,000 |
|
212,400 | 49,699 | |||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Put16 | JPM | RUB | 73.550 | 6/27/19 | |
EUR 200,000 |
|
63,683 | 936,041 | |||||||||||||||||||
EUR | ||||||||||||||||||||||||||||
EUR Currency Put16 | BOA | SEK | 9.250 | 4/29/20 | EUR 10,000 | 7,200 | 528,516 |
55 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Counter- party |
Exercise Price |
Expiration Date |
Notional Amount (000s) |
Contracts (000s) |
Value | |||||||||||||||||||||||
Over-the-Counter Options Purchased (Continued) |
|
|||||||||||||||||||||||||||
Federal Republic of Germany Government Bonds Put16 | MSCO | EUR | 100.468 | 3/30/20 | |
EUR 62,264,174 |
|
|
EUR
59,040 |
|
$ | 23,661 | ||||||||||||||||
Federal Republic of Germany Government Bonds Put16 | MSCO | EUR | 100.468 | 3/19/20 | |
EUR 62,264,174 |
|
|
EUR
59,040 |
|
22,061 | |||||||||||||||||
Federal Republic of Germany Government Bonds Put16 | MSCO | EUR | 100.468 | 4/2/20 | |
EUR 62,274,721 |
|
|
EUR
59,050 |
|
24,193 | |||||||||||||||||
French Republic Government Bonds Call16 | MSCO | EUR | 116.740 | 6/25/19 | |
EUR 28,117,920 |
|
|
EUR
24,000 |
|
485,924 | |||||||||||||||||
INR Currency Call16 | GSCO-OT | INR | 68.950 | 6/21/19 | |
INR 6,895,000 |
|
|
INR
1,219,700 |
|
132,313 | |||||||||||||||||
JPY | ||||||||||||||||||||||||||||
JPY Currency Call16 | BOA | JPY | 109.000 | 8/22/19 | |
JPY 10,900,000 |
|
7,712,700 | 1,024,401 | |||||||||||||||||||
JPY | ||||||||||||||||||||||||||||
JPY Currency Call16 | BOA | JPY | 107.850 | 4/24/19 | |
JPY 21,570,000 |
|
15,257,268 | 139,299 | |||||||||||||||||||
JPY | ||||||||||||||||||||||||||||
JPY Currency Call16 | SCB | JPY | 109.000 | 8/22/19 | |
JPY 10,900,000 |
|
7,713,000 | 1,024,441 | |||||||||||||||||||
KRW | KRW | |||||||||||||||||||||||||||
Currency Call16 | GSCO-OT | KRW | 1125.000 | 7/18/19 | |
KRW 112,500,000 |
|
39,825,000 | 347,672 | |||||||||||||||||||
MXN | MXN | |||||||||||||||||||||||||||
Currency Call16 | BOA | MXN | 18.553 | 1/14/20 | |
MXN 1,855,250 |
|
1,312,540 | 544,271 | |||||||||||||||||||
MXN | MXN | |||||||||||||||||||||||||||
Currency Call16 | CITNA-B | MXN | 18.578 | 8/15/19 | |
MXN 1,393,328 |
|
325,110 | 89,730 | |||||||||||||||||||
MXN | MXN | |||||||||||||||||||||||||||
Currency Call16 | GSCO-OT | MXN | 19.733 | 3/4/20 | |
MXN 3,946,500 |
|
930,800 | 1,171,142 | |||||||||||||||||||
MXN | MXN | |||||||||||||||||||||||||||
Currency Call16 | SCB | MXN | 19.050 | 6/18/19 | |
MXN 2,857,500 |
|
1,350,645 | 538,799 | |||||||||||||||||||
MXN | MXN | |||||||||||||||||||||||||||
Currency Call16,20 | CITNA-B | MXN | 18.000 | 10/23/19 | MXN 5,500 | 1,750 | 148,295 |
56 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Counter- party |
Exercise Price |
Expiration Date |
Notional Amount (000s) |
Contracts (000s) |
Value | |||||||||||||||||||||||
Over-the-Counter Options Purchased (Continued) |
|
|||||||||||||||||||||||||||
RUB | ||||||||||||||||||||||||||||
RUB Currency Call16 | JPM | RUB | 59.500 | 6/7/19 | |
RUB 14,875,000 |
|
4,267,800 | $ | 51,214 | ||||||||||||||||||
RUB | ||||||||||||||||||||||||||||
RUB Currency Call16 | GSCO-OT | RUB | 57.300 | 3/30/20 | RUB 20,500 | 7,086 | 831,440 | |||||||||||||||||||||
RUB | ||||||||||||||||||||||||||||
RUB Currency Call16 | JPM | RUB | 70.000 | 2/25/21 | |
RUB 5,250,000 |
|
3,714,800 | 2,980,013 | |||||||||||||||||||
RUB | ||||||||||||||||||||||||||||
RUB Currency Call16 | GSCO-OT | RUB | 70.000 | 2/5/21 | |
RUB 7,350,000 |
|
1,239,000 | 998,064 | |||||||||||||||||||
USD | ||||||||||||||||||||||||||||
S&P 500 Index Put16 | BOA | USD | 2632.590 | 2/21/20 | USD 150,386 | 53 | 4,888,970 | |||||||||||||||||||||
USD | ||||||||||||||||||||||||||||
S&P 500 Index Put16 | GSCOI | USD | 2679.690 | 3/13/20 | USD 142,203 | 50 | 5,443,908 | |||||||||||||||||||||
USD | ||||||||||||||||||||||||||||
S&P 500 Index Put16 | JPM | USD | 2658.670 | 2/26/20 | USD 106,664 | 38 | 3,736,677 | |||||||||||||||||||||
SGD | ||||||||||||||||||||||||||||
SGD Currency Put16 | GSCO-OT | CNY | 4.948 | 5/17/19 | |
SGD 150,000 |
|
53,100 | 105,417 | |||||||||||||||||||
TRY | ||||||||||||||||||||||||||||
TRY Currency Put16 | JPM | TRY | 4.000 | 5/23/19 | TRY 10,000 | 1,790 | 17,034 | |||||||||||||||||||||
ZAR | ||||||||||||||||||||||||||||
ZAR Currency Call16 | GSCO-OT | ZAR | 13.613 | 1/27/20 | |
ZAR 1,020,938 |
|
240,801 | 350,312 | |||||||||||||||||||
Total Over-the-Counter Options Purchased (Cost $51,903,280) |
|
35,953,039 | ||||||||||||||||||||||||||
Counter -party |
Buy /Sell Protection |
Reference Asset |
Fixed Rate | Expiration Date |
Notional Amount (000s) |
|||||||||||||||||||||||
Over-the-Counter Credit Default Swaptions Purchased0.0% |
| |||||||||||||||||||||||||||
Credit Default Swap maturing 12/20/23 Put 16 | JPM | Buy | |
CDX. NA.HY.31 |
|
105.00 | % | 4/17/19 | |
USD 88,500 |
|
75,579 | ||||||||||||||||
Credit Default Swap maturing 12/20/23 Put 16 | JPM | Buy | |
ITraxx Europe Crossover Series 30 Version 2 |
|
3.00 | 4/17/19 | |
EUR 61,880 |
|
152,988 | |||||||||||||||||
Credit Default Swap maturing 12/20/23 Put 16 | JPM | Buy | |
CDX. NA.HY.31 |
|
3.00 | 5/15/19 | |
EUR 88,400 |
|
505,531 |
57 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Counter -party |
Buy /Sell Protection |
Reference Asset |
Fixed Rate | Expiration Date |
Notional Amount (000s) |
Value | ||||||||||||||||||||||
Over-the-Counter Credit Default Swaptions Purchased (Continued) |
| |||||||||||||||||||||||||||
Credit Default Swap maturing 12/20/23 Put 16 | JPM | Buy | |
CDX. NA.HY.31 |
|
104.00 | 5/15/19 | |
USD 70,900 |
|
$ | 151,301 | ||||||||||||||||
|
|
| ||||||||||||||||||||||||||
Total Over-the-Counter Credit Default Swaptions Purchased |
|
|||||||||||||||||||||||||||
(Cost $1,928,282) |
|
885,399 | ||||||||||||||||||||||||||
Counter -party |
Pay/Receive Floating |
Floating Rate |
Fixed Rate |
Expiration Date |
Notional Amount (000s) |
|||||||||||||||||||||||
Over-the-Counter Interest Rate Swaptions Purchased0.2% |
| |||||||||||||||||||||||||||
Interest Rate Cap maturing 2/22/21 Put16 | MSCO | Receive | |
MAX [((CMS10 minus CMS2) minus 0.32%), 0.00%] * 10 |
|
32.000 | 2/25/21 | |
USD 85,000 |
|
1,530,000 | |||||||||||||||||
Interest Rate Swap maturing 2/2/21 Put16 | MSCO | Receive | |
Three- Month USD-LIBOR- BBA |
|
2.860 | 2/21/20 | |
USD 110,900 |
|
1,142,270 | |||||||||||||||||
Interest Rate Swap maturing 3/31/26 Put16 | JPM | Receive | |
Six-Month EUR EURIBOR |
|
1.122 | 3/29/21 | |
EUR 353,800 |
|
667,719 | |||||||||||||||||
Interest Rate Swap maturing 5/30/25 Put16 | BOA | Receive | |
Three- Month CAD-BA- CDOR |
|
2.588 | 3/30/20 | |
CAD 472,000 |
|
1,642,073 | |||||||||||||||||
Interest Rate Swap maturing 8/12/29 Put16 | JPM | Receive | |
Six-Month EUR EURIBOR |
|
0.718 | 8/8/19 | |
EUR 132,700 |
|
455,842 | |||||||||||||||||
Interest Rate Swap maturing 8/19/20 Put16 | GSCOI | Receive | |
Three- Month USD-LIBOR- BBA |
|
3.350 | 5/14/19 | |
USD 353,500 |
|
| |||||||||||||||||
|
|
| ||||||||||||||||||||||||||
Total Over-the-Counter Interest Rate Swaptions Purchased |
|
|||||||||||||||||||||||||||
(Cost $6,133,998) |
|
5,437,904 |
58 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Shares | Value | |||||||
Investment Companies9.1% | ||||||||
OFI Carlyle Private Credit Fund, Cl. I18 | 316,327 | $ | 3,052,610 | |||||
Oppenheimer Limited-Term Bond Fund, Cl. I18 | 4,022,462 | 18,181,528 | ||||||
Oppenheimer Master Event-Linked Bond Fund, LLC18 | 4,610,550 | 71,695,710 | ||||||
Oppenheimer Master Loan Fund, LLC18 | 10,270,502 | 179,111,584 | ||||||
Oppenheimer Ultra-Short Duration Fund, Cl. Y18 | 9,276,336 | 46,381,679 | ||||||
Total Investment Companies (Cost $347,969,976)
|
|
318,423,111
|
| |||||
Total Investments, at Value (Cost $3,977,706,926) | 109.2% | 3,831,470,240 | ||||||
Net Other Assets (Liabilities) | (9.2) | (323,552,242 | ) | |||||
Net Assets | 100.0% | $ | 3,507,917,998 | |||||
Footnotes to Consolidated Statement of Investments
1. 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 Trustees. These securities amount to $958,497,882 or 27.32% of the Funds net assets at period end.
2. Represents the current interest rate for a variable or increasing rate security, which may be fixed for a predetermined period. The interest rate is, or will be as of an established date, determined as [Referenced Rate + Basis-point spread].
3. Restricted security. The aggregate value of restricted securities at period end was $19,330,019, which represents 0.55% of the Funds net assets. See Note 4 of the accompanying Consolidated Notes. Information concerning restricted securities is as follows:
Security |
Acquisition Dates |
Cost | Value | Unrealized Appreciation/ (Depreciation) |
||||||||||||
Affinion Group, Inc., 12.50% Sr. Unsec. Nts., 11/10/22 | 1/15/13-11/10/18 | $ | 2,280,988 | $ | 1,695,459 | $ | (585,529 | ) | ||||||||
Clear Channel International BV, 8.75% Sr. Unsec. Nts., 12/15/20 | 8/9/17 | 719,028 | 732,188 | 13,160 | ||||||||||||
Eagle Intermediate Global Holding BV/ Ruyi US Finance LLC, 7.50% Sr. Sec. Nts., 5/1/25 | 9/27/18 | 678,649 | 683,100 | 4,451 | ||||||||||||
EP Energy LLC/Everest Acquisition Finance, Inc., 9.375% Sec. Nts., 5/1/24 | 1/29/13-10/23/18 | 5,868,871 | 2,501,710 | (3,367,161 | ) | |||||||||||
GLS Auto Receivables Trust, Series 2018-1A, Cl. A, 2.82%, 7/15/22 | 1/30/18 | 1,412,071 | 1,410,127 | (1,944 | ) | |||||||||||
Golden Nugget, Inc., 6.75% Sr. Unsec. Nts., 10/15/24 | 9/20/16-9/12/17 | 3,408,700 | 3,455,725 | 47,025 | ||||||||||||
Hartford Financial Services Group, Inc. | ||||||||||||||||
(The), 4.809% [US0003M+212.5] Jr. | ||||||||||||||||
Sub. Nts., 2/12/47 | 1/18/18-1/22/18 | 1,743,012 | 1,546,515 | (196,497 | ) | |||||||||||
HTA Group Ltd., 9.125% Sr. Unsec. Nts., 3/8/22 | 3/1/17-3/7/18 | 1,180,520 | 1,229,529 | 49,009 | ||||||||||||
Minejesa Capital BV, 4.625% Sr. Sec. Nts., 8/10/30 | 11/9/17-5/11/18 | 2,894,969 | 2,986,659 | 91,690 | ||||||||||||
Titan International, Inc., 6.50% Sr. Sec. Nts., 11/30/23 | 11/9/17 | 1,955,000 | 1,810,819 | (144,181 | ) | |||||||||||
Williams Scotsman International, Inc., 6.875% Sr. Sec. Nts., 8/15/23 | 7/31/18 | 1,275,000 | 1,278,188 | 3,188 | ||||||||||||
|
|
|||||||||||||||
$ | 23,416,808 | $ | 19,330,019 | $ | (4,086,789 | ) | ||||||||||
|
|
59 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Footnotes to Consolidated Statement of Investments (Continued)
4. Represents securities sold under Regulation S, which are exempt from registration under the Securities Act of 1933, as amended. These securities may not be offered or sold in the United States without and exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933. These securities amount to $469,803,164 or 13.39% of the Funds net assets at period end.
5. 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 $9,359,325 or 0.27% of the Funds net assets at period end.
6. Interest rate is less than 0.0005%.
7. All or a portion of the security position is when-issued or delayed delivery to be delivered and settled after period end. See Note 4 of the accompanying Consolidated Notes.
8. The value of this security was determined using significant unobservable inputs. See Note 3 of the accompanying Consolidated Notes.
9. This interest rate resets periodically. Interest rate shown reflects the rate in effect at period end. The rate on this variable rate security is not based on a published reference rate and spread but is determined by the issuer or agent based on current market conditions.
10. All or a portion of the security position is held in accounts at a futures clearing merchant and pledged to cover margin requirements on open futures contracts and written options on futures, if applicable. The aggregate market value of such securities is $10,851. See Note 6 of the accompanying Consolidated Notes.
11. Denotes an inflation-indexed security: coupon or principal are indexed to a consumer price index.
12. Zero coupon bond reflects effective yield on the original acquisition date.
13. This security is not accruing income because its issuer has missed or is expected to miss interest and/or principal payments. The rate shown is the contractual interest rate. See Note 4 of the accompanying Consolidated Notes.
14. Interest or dividend is paid-in-kind, when applicable.
15. This bond has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.
16. Non-income producing security.
17. Security received as the result of issuer reorganization.
18. Is or was an affiliate, as defined in the Investment Company Act of 1940, as amended, at or during the reporting period, 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 reporting period in which the issuer was an affiliate are as follows:
Shares 2018 |
Gross Additions |
Gross Reductions |
Shares March 31, 2019 |
|||||||||||||
Investment Companies | ||||||||||||||||
OFI Carlyle Private Credit Fund, Cl. I | | 316,327 | | 316,327 | ||||||||||||
Oppenheimer Institutional | ||||||||||||||||
Government Money Market Fund, Cl. E | 232,330,161 | 960,325,419 | 1,192,655,580 | | ||||||||||||
Oppenheimer Limited-Term Bond Fund, Cl. I | | 4,022,462 | | 4,022,462 | ||||||||||||
Oppenheimer Master Event-Linked Bond Fund, LLC | 4,789,523 | 1,917 | 180,890 | 4,610,550 | ||||||||||||
Oppenheimer Master Loan Fund, LLC | 31,598,009 | | 21,327,507 | 10,270,502 |
60 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Footnotes to Consolidated Statement of Investments (Continued)
Shares September 30, 2018 |
Gross Additions |
Gross Reductions |
Shares March 31, 2019 | |||||||||||
Oppenheimer Ultra-Short Duration Fund, Cl. Y | 9,155,142 | 121,194 | | 9,276,336 | ||||||||||
Value | Income | Realized Gain (Loss) |
Change in Unrealized Gain (Loss) | |||||||||||
Investment Companies | ||||||||||||||
OFI Carlyle Private Credit Fund, Cl. I | $ | 3,052,610 | $ | 56,880 | $ | | $ (47,390) | |||||||
Oppenheimer Institutional Government Money Market Fund, Cl. E | | 1,701,210 | | | ||||||||||
Oppenheimer Limited-Term Bond Fund, Cl. I | 18,181,528 | 190,389 | | 319,941 | ||||||||||
Oppenheimer Master Event-Linked Bond Fund, LLC | 71,695,710 | 2,935,211 | a | (578,559 | )a | (3,336,706)a | ||||||||
Oppenheimer Master Loan Fund, LLC | 179,111,584 | 10,780,067 | b | 1,562,140 | b | (16,799,964)b | ||||||||
Oppenheimer Ultra-Short Duration | ||||||||||||||
Fund, Cl. Y | 46,381,679 | 604,696 | | 393 | ||||||||||
|
| |||||||||||||
Total | $ | 318,423,111 | $ | 16,268,453 | $ | 983,581 | $ (19,863,726) | |||||||
|
|
a. Represents the amount allocated to the Fund from Oppenheimer Master Event-Linked Bond Fund, LLC.
b. Represents the amount allocated to the Fund from Oppenheimer Master Loan Fund, LLC.
19. One-Touch Binary option becomes eligible for exercise if at any time spot rates are less than or equal to 3.2 BRL per 1USD.
20. One-Touch Binary option becomes eligible for exercise if at any time spot rates are less than or equal to 18 MXN per 1USD.
Distribution of investments representing geographic holdings, as a percentage of total investments at value, is as follows:
Geographic Holdings | Value | Percent | ||||||||
United States | $ | 2,285,787,376 | 59.7 | % | ||||||
Greece | 126,917,678 | 3.3 | ||||||||
Mexico | 126,239,601 | 3.3 | ||||||||
India | 111,710,795 | 2.9 | ||||||||
Brazil | 103,700,747 | 2.7 | ||||||||
France | 93,114,227 | 2.4 | ||||||||
Argentina | 91,916,947 | 2.4 | ||||||||
Indonesia | 89,789,956 | 2.3 | ||||||||
United Kingdom | 85,161,278 | 2.2 | ||||||||
South Africa | 81,045,337 | 2.1 | ||||||||
Spain | 70,076,250 | 1.8 | ||||||||
Canada | 49,682,630 | 1.3 | ||||||||
China | 46,823,943 | 1.2 | ||||||||
Egypt | 38,373,519 | 1.0 | ||||||||
Switzerland | 38,186,008 | 1.0 |
61 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Geographic Holdings (Continued) | Value | Percent | ||||||||
Netherlands | $ | 33,875,616 | 0.9 | % | ||||||
Colombia | 32,102,917 | 0.8 | ||||||||
Turkey | 32,039,394 | 0.8 | ||||||||
Italy | 21,528,861 | 0.6 | ||||||||
Thailand | 20,792,984 | 0.5 | ||||||||
Ukraine | 19,825,518 | 0.5 | ||||||||
Peru | 18,820,122 | 0.5 | ||||||||
Luxembourg | 18,145,609 | 0.5 | ||||||||
Russia | 11,855,986 | 0.3 | ||||||||
Dominican Republic | 11,203,362 | 0.3 | ||||||||
Ecuador | 10,681,794 | 0.3 | ||||||||
Ghana | 10,612,509 | 0.3 | ||||||||
Kazakhstan | 9,924,740 | 0.3 | ||||||||
Ivory Coast | 9,639,130 | 0.3 | ||||||||
Ireland | 9,224,977 | 0.2 | ||||||||
Sri Lanka | 8,199,136 | 0.2 | ||||||||
Eurozone | 7,624,085 | 0.2 | ||||||||
Oman | 7,198,674 | 0.2 | ||||||||
Saudi Arabia | 6,226,720 | 0.2 | ||||||||
United Arab Emirates | 5,880,521 | 0.2 | ||||||||
Portugal | 5,860,122 | 0.2 | ||||||||
Israel | 5,717,163 | 0.1 | ||||||||
Supranational | 5,196,241 | 0.1 | ||||||||
Angola | 4,785,419 | 0.1 | ||||||||
Cayman Islands | 4,719,921 | 0.1 | ||||||||
Azerbaijan | 4,202,821 | 0.1 | ||||||||
New Zealand | 4,033,588 | 0.1 | ||||||||
Gabon | 3,943,953 | 0.1 | ||||||||
Australia | 3,914,301 | 0.1 | ||||||||
Fiji | 3,734,600 | 0.1 | ||||||||
Bermuda | 3,618,096 | 0.1 | ||||||||
Iraq | 3,612,008 | 0.1 | ||||||||
Nigeria | 3,111,283 | 0.1 | ||||||||
Senegal | 3,046,837 | 0.1 | ||||||||
Hong Kong | 3,028,517 | 0.1 | ||||||||
Germany | 2,761,551 | 0.1 | ||||||||
Belgium | 2,646,644 | 0.1 | ||||||||
Serbia | 2,585,836 | 0.1 | ||||||||
Singapore | 2,368,740 | 0.1 | ||||||||
Morocco | 2,327,267 | 0.1 | ||||||||
Japan | 2,188,140 | 0.1 | ||||||||
Finland | 2,123,712 | 0.1 | ||||||||
Paraguay | 1,334,294 | 0.0 | ||||||||
Mauritius | 1,229,529 | 0.0 | ||||||||
Zambia | 1,136,125 | 0.0 | ||||||||
Uruguay | 1,083,636 | 0.0 | ||||||||
Chile | 807,205 | 0.0 | ||||||||
Trinidad and Tobago | 700,000 | 0.0 | ||||||||
St. Lucia | 688,050 | 0.0 | ||||||||
Macau | 688,022 | 0.0 |
62 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Geographic Holdings (Continued) | Value | Percent | ||||
South Korea | $ | 347,672 | 0.0% | |||
|
| |||||
Total | $ | 3,831,470,240 | 100.0% | |||
|
| |||||
Forward Currency Exchange Contracts as of March 31, 2019 | ||||||||||||||
Counter -party |
Settlement Month(s) |
Currency Purchased (000s) |
Currency Sold (000s) |
Unrealized Appreciation |
Unrealized Depreciation | |||||||||
BAC | 04/2019 | BRL | 11,250 | USD | 2,887 | $ | $ 13,752 | |||||||
BAC | 05/2019 | EUR | 410 | USD | 467 | | 5,771 | |||||||
BAC | 06/2019 | KRW | 7,520,050 | USD | 6,667 | | 42,522 | |||||||
BAC | 06/2019 | MYR | 2,190 | USD | 536 | 1,181 | | |||||||
BAC | 04/2019 | USD | 3,004 | BRL | 11,250 | 130,699 | | |||||||
BAC | 06/2019 | USD | 38,789 | MXN | 756,850 | 288,009 | | |||||||
BAC | 05/2019 | USD | 27,878 | NOK | 239,205 | 101,961 | | |||||||
BOA | 05/2019 | AUD | 40,000 | USD | 28,388 | 48,208 | 12,925 | |||||||
BOA | 05/2019 - 06/2019 | EUR | 69,310 | USD | 79,253 | | 1,095,150 | |||||||
BOA | 06/2019 | INR | 700,500 | USD | 9,933 | 53,522 | | |||||||
BOA | 05/2019 | USD | 135,348 | EUR | 118,845 | 1,583,736 | | |||||||
BOA | 06/2019 | USD | 59,805 | IDR | 863,467,000 | | 66,764 | |||||||
BOA | 06/2019 | USD | 116,651 | INR | 8,218,200 | 66,681 | 563,998 | |||||||
BOA | 08/2019 | USD | 16,276 | PLN | 61,920 | 78,712 | | |||||||
BOA | 06/2019 | USD | 6,779 | ZAR | 99,880 | | 77,962 | |||||||
CITNA-B | 04/2019 - 06/2019 | BRL | 764,123 | USD | 196,015 | 2,103,542 | 3,208,390 | |||||||
CITNA-B | 06/2019 | COP | 57,441,000 | USD | 18,188 | | 246,302 | |||||||
CITNA-B | 05/2019 | EUR | 8,990 | USD | 10,195 | | 77,915 | |||||||
CITNA-B | 05/2019 | NOK | 273,500 | USD | 32,276 | | 518,465 | |||||||
CITNA-B | 06/2019 | RUB | 1,800,300 | USD | 27,159 | | 22,924 | |||||||
CITNA-B | 05/2019 | SEK | 387,600 | USD | 42,861 | | 1,051,350 | |||||||
CITNA-B | 04/2019 - 05/2019 | USD | 191,172 | BRL | 737,610 | 3,172,010 | 239,858 | |||||||
CITNA-B | 06/2019 | USD | 23,654 | COP | 74,701,000 | 320,312 | | |||||||
CITNA-B | 05/2019 | USD | 1,715 | GBP | 1,320 | | 7,183 | |||||||
CITNA-B | 06/2019 | USD | 81,067 | MXN | 1,592,400 | 60,993 | | |||||||
CITNA-B | 06/2019 | USD | 3,732 | RUB | 247,400 | 3,150 | | |||||||
CITNA-B | 06/2019 | USD | 20,923 | THB | 660,750 | 59,459 | | |||||||
CITNA-B | 10/2019 | USD | 8,116 | TRY | 52,050 | 62,108 | | |||||||
CITNA-B | 06/2019 | USD | 78,894 | ZAR | 1,147,470 | 119,556 | | |||||||
CITNA-B | 06/2019 | ZAR | 99,880 | USD | 6,867 | | 10,407 | |||||||
DEU | 05/2019 | EUR | 35,295 | USD | 40,283 | | 561,778 | |||||||
DEU | 05/2019 | USD | 190,359 | EUR | 166,540 | 2,936,097 | | |||||||
GSCO-OT | 04/2019 - 03/2021 | BRL | 215,805 | USD | 54,884 | 6,178 | 1,593,564 | |||||||
GSCO-OT | 08/2019 | CLP | 11,080,700 | USD | 16,965 | | 685,146 | |||||||
GSCO-OT | 01/2021 | EUR | 58,000 | USD | 70,174 | | 1,746,584 | |||||||
GSCO-OT | 08/2019 | PLN | 61,920 | USD | 16,640 | | 443,062 | |||||||
GSCO-OT | 10/2019 | TRY | 152,900 | USD | 25,348 | | 1,690,442 | |||||||
GSCO-OT | 05/2019 - 03/2021 | USD | 106,143 | BRL | 434,174 | 470,651 | 1,677,402 | |||||||
GSCO-OT | 01/2021 | USD | 69,698 | NOK | 585,800 | 711,873 | | |||||||
GSCO-OT | 10/2019 | USD | 12,774 | TRY | 92,040 | | 1,466,356 | |||||||
GSCO-OT | 08/2019 | USD | 23,641 | ZAR | 338,715 | 614,316 | 42,677 | |||||||
GSCO-OT | 05/2019 | ZAR | 25,280 | USD | 1,763 | | 23,645 | |||||||
HSBC | 04/2019 | ARS | 153,000 | USD | 3,604 | | 80,643 | |||||||
HSBC | 05/2019 | EUR | 5,030 | USD | 5,737 | | 76,254 |
63 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Forward Currency Exchange Contracts (Continued) |
| |||||||||||||||||||||||||
Counter -party |
Settlement Month(s) |
Currency Purchased (000s) |
Currency Sold (000s) |
Unrealized Appreciation |
Unrealized Depreciation |
|||||||||||||||||||||
HSBC | 04/2019 | INR | 937,600 | USD | 13,642 | $ | | $ | 172,163 | |||||||||||||||||
HSBC | 04/2019 | USD | 3,531 | ARS | 153,000 | 7,411 | | |||||||||||||||||||
HSBC | 05/2019 | USD | 3,682 | EUR | 3,265 | 7,953 | | |||||||||||||||||||
HSBC | 06/2019 | USD | 916 | TRY | 5,280 | 34,014 | | |||||||||||||||||||
JPM | 04/2019 | ARS | 128,100 | USD | 3,065 | | 134,128 | |||||||||||||||||||
JPM | 04/2019 | BRL | 51,690 | USD | 13,265 | | 63,186 | |||||||||||||||||||
JPM | 05/2019 | EUR | 17,610 | USD | 19,986 | | 167,972 | |||||||||||||||||||
JPM | 04/2019 | GBP | 17,680 | USD | 23,479 | | 435,157 | |||||||||||||||||||
JPM | 06/2019 | HUF | 60,000 | USD | 217 | | 6,246 | |||||||||||||||||||
JPM | 09/2019 | IDR | 486,913,000 | USD | 30,802 | 2,575,702 | | |||||||||||||||||||
JPM | 05/2019 | JPY | 525,000 | USD | 4,820 | | 65,086 | |||||||||||||||||||
JPM | 05/2019 | NOK | 119,600 | USD | 13,909 | | 21,471 | |||||||||||||||||||
JPM | 06/2019 | PLN | 940 | USD | 248 | | 2,265 | |||||||||||||||||||
JPM | 04/2019 | USD | 3,151 | ARS | 128,100 | 220,827 | | |||||||||||||||||||
JPM | 05/2019 | USD | 28,273 | AUD | 40,000 | 48,462 | 198,771 | |||||||||||||||||||
JPM | 04/2019 | USD | 20,802 | BRL | 77,107 | 1,119,238 | | |||||||||||||||||||
JPM | 08/2019 | USD | 17,045 | CLP | 11,080,700 | 764,738 | | |||||||||||||||||||
JPM | 05/2019 | USD | 179,155 | EUR | 156,685 | 2,780,291 | | |||||||||||||||||||
JPM | 05/2019 | USD | 30,177 | GBP | 22,695 | 560,942 | | |||||||||||||||||||
JPM | 05/2019 | USD | 4,652 | NOK | 40,000 | 7,181 | | |||||||||||||||||||
JPM | 06/2019 | USD | 25,065 | TRY | 144,490 | 933,364 | | |||||||||||||||||||
JPM | 08/2019 | ZAR | 113,715 | USD | 7,711 | 42,677 | | |||||||||||||||||||
RBC | 05/2019 | EUR | 32,255 | USD | 36,704 | | 401,501 | |||||||||||||||||||
RBC | 05/2019 | JPY | 523,000 | USD | 4,803 | | 66,892 | |||||||||||||||||||
RBC | 05/2019 | NOK | 119,605 | USD | 13,823 | 65,300 | | |||||||||||||||||||
RBC | 05/2019 | USD | 45,213 | EUR | 39,665 | 569,653 | | |||||||||||||||||||
RBC | 05/2019 | USD | 4,507 | NOK | 39,000 | | 21,293 | |||||||||||||||||||
SCB | 09/2019 | IDR | 738,208,000 | USD | 51,300 | | 696,671 | |||||||||||||||||||
SCB | 05/2019 | USD | 61,199 | EUR | 53,000 | 1,441,603 | | |||||||||||||||||||
SCB | 09/2019 | USD | 29,909 | IDR | 486,913,000 | | 3,468,724 | |||||||||||||||||||
SCB | 05/2019 | USD | 1,803 | ZAR | 25,280 | 63,329 | | |||||||||||||||||||
SCB | 08/2019 | ZAR | 225,000 | USD | 15,871 | | 554,548 | |||||||||||||||||||
Total Unrealized Appreciation and Depreciation |
|
$ | 24,235,639 | $ | 23,825,265 | |||||||||||||||||||||
Futures Contracts as of March 31, 2019 | ||||||||||||||||||||||
Description | Buy/Sell | Expiration Date |
Number of Contracts |
Notional Amount (000s) |
Value | Unrealized Appreciation/ (Depreciation) | ||||||||||||||||
EURO-BUND | Sell | 6/6/19 | 432 | EUR 80,331 | $ 80,607,697 | $(276,942) | ||||||||||||||||
United States Treasury Long Bonds | Buy | 6/19/19 | 61 | USD 8,969 | 9,129,031 | 159,797 | ||||||||||||||||
United States Treasury Long Bonds | Sell | 6/19/19 | 750 | USD 109,092 | 112,242,188 | (3,150,176) | ||||||||||||||||
United States Treasury Nts., 10 yr. | Buy | 6/19/19 | 581 | USD 71,131 | 72,171,094 | 1,040,402 |
64 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Futures Contracts (Continued) |
|
|||||||||||||||||||||||
Description | Buy/Sell | Expiration Date |
Number of Contracts |
Notional Amount (000s) |
Value | Unrealized Appreciation/ (Depreciation) |
||||||||||||||||||
United States Treasury Nts., 10 yr. | Sell | 6/19/19 | 513 | USD 62,775 | $ 63,724,219 | $ | (948,872 | ) | ||||||||||||||||
United States Treasury Nts., 2 yr. | Buy | 6/28/19 | 8 | USD 1,697 | 1,704,750 | 7,863 | ||||||||||||||||||
United States Treasury Nts., 2 yr. | Sell | 6/28/19 | 1,358 | USD 288,305 | 289,381,313 | (1,076,182 | ) | |||||||||||||||||
United States Treasury Nts., 5 yr. | Buy | 6/28/19 | 373 | USD 42,855 | 43,203,891 | 349,194 | ||||||||||||||||||
United States Ultra Bonds | Buy | 6/19/19 | 324 | USD 52,454 | 54,432,000 | 1,978,374 | ||||||||||||||||||
$ | (1,916,542 | ) | ||||||||||||||||||||||
Over-the-Counter Options Written at March 31, 2019 |
|
|||||||||||||||||||||||||||
Description | Counter -party |
Exercise Price |
Expiration Date |
Number of Contracts (000s) |
Notional Amount (000s) |
Premiums Received |
Value | |||||||||||||||||||||
USD | AUD | |||||||||||||||||||||||||||
AUD Currency Call | BOA | 0.749 | 6/3/19 | (64,500) | AUD 200,000 | $ | 89,809 | $ | (49,104 | ) | ||||||||||||||||||
USD | AUD | |||||||||||||||||||||||||||
AUD Currency Put | BOA | 0.689 | 6/3/19 | (64,500) | AUD 200,000 | 325,957 | (239,109 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put1 | GSCO-OT | 4.500 | 3/30/20 | (3,543) | BRL 10,000 | 619,316 | (807,438 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put | GSCO-OT | 3.880 | 5/2/19 | (137,334) | BRL 387,950 | 396,091 | (833,505 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put2 | GSCO-OT | 4.230 | 3/4/21 | (149,900) | BRL 423,000 | 1,679,022 | (2,028,504 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Call | GSCO-OT | 3.463 | 5/2/19 | (122,590) | BRL 346,300 | 168,610 | (10,187 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put1 | GSCO-OT | 4.500 | 3/27/20 | (3,540) | BRL 10,500 | 617,376 | (811,574 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put1 | GSCO-OT | 4.500 | 3/30/20 | (3,543) | BRL 10,000 | 619,316 | (807,438 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put3 | GSCO-OT | 4.500 | 12/6/19 | (1,414) | BRL 5,000 | 250,561 | (207,752 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put3 | GSCO-OT | 4.500 | 12/10/19 | (1,414) | BRL 5,300 | 294,112 | (208,425 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Call | JPM | 3.700 | 4/4/19 | (131,000) | BRL 370,000 | 205,794 | (17,398 | ) | ||||||||||||||||||||
BRL | BRL | |||||||||||||||||||||||||||
BRL Currency Put | JPM | 3.850 | 4/4/19 | (136,300) | BRL 385,000 | 292,519 | (696,080 | ) |
65 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Over-the-Counter Options Written (Continued) |
|
|||||||||||||||||||||
Number of | Notional | |||||||||||||||||||||
Counter | Exercise | Expiration | Contracts | Amount | Premiums | |||||||||||||||||
Description | -party | Price | Date | (000s) | (000s) | Received | Value | |||||||||||||||
BRL Currency Put2 | JPM | BRL
4.250 |
3/4/21 | BRL
(150,600) |
BRL 425,000 | $ | 1,589,273 | $ (1,985,527 | ) | |||||||||||||
CAD Currency Call | RBC | CAD
1.280 |
5/21/19 | CAD
(88,500) |
CAD 250,000 | 196,470 | (23,797 | ) | ||||||||||||||
CAD Currency Put | RBC | CAD
1.345 |
5/21/19 | CAD
(88,500) |
CAD 250,000 | 352,230 | (383,896 | ) | ||||||||||||||
CLP Currency Put | CITNA-B | CLP
678.000 |
5/2/19 | CLP
(28,781,100) |
CLP 101,700,000 | 316,244 | (542,524 | ) | ||||||||||||||
CLP Currency Call | CITNA-B | CLP
621.000 |
5/2/19 | CLP
(26,361,450) |
CLP 93,150,000 | 187,330 | (10,281 | ) | ||||||||||||||
CLP Currency Put | CITNA-B | CLP
785.750 |
11/4/19 | CLP
(55,487,000) |
CLP 78,575,000 | 1,212,488 | (277,435 | ) | ||||||||||||||
CLP Currency Call | GSCO-OT | CLP
607.000 |
8/5/19 | CLP
(23,673,000) |
CLP 121,400,000 | 216,762 | (38,113 | ) | ||||||||||||||
CLP Currency Put | GSCO-OT | CLP
691.000 |
8/5/19 | CLP
(26,949,000) |
CLP 138,200,000 | 472,563 | (653,244 | ) | ||||||||||||||
COP Currency Call | BOA | C0P
3008.000 |
5/23/19 | C0P
(53,250,000) |
CLP 150,400,000 | 140,560 | (27,157 | ) | ||||||||||||||
COP Currency Put | BOA | COP
3268.000 |
5/23/19 | COP
(57,850,000) |
COP 163,400,000 | 145,687 | (138,840 | ) | ||||||||||||||
COP Currency Put | CITNA-B | COP
3227.000 |
5/2/19 | COP
(114,236,000) |
COP 322,700,000 | 274,931 | (271,882 | ) | ||||||||||||||
COP Currency Call | CITNA-B | COP
2981.000 |
5/2/19 | COP
(105,527,000) |
COP 298,100,000 | 256,773 | (23,216 | ) | ||||||||||||||
COP Currency Put | GSCO-OT | COP
3285.000 |
5/13/19 | COP
(139,600,000) |
COP 492,750,000 | 286,509 | (220,568 | ) | ||||||||||||||
COP Currency Call | GSCO-OT | COP
3040.000 |
5/13/19 | COP
(129,200,000) |
COP 456,000,000 | 351,263 | (62,016 | ) | ||||||||||||||
COP Currency Put | JPM | COP
3300.000 |
4/15/19 | COP
(116,710,000) |
COP 330,000,000 | 309,848 | (51,352 | ) | ||||||||||||||
COP Currency Call | JPM | COP
3020.000 |
4/15/19 | COP
(106,800,000) |
COP 302,000,000 | 234,394 | (19,224 | ) | ||||||||||||||
COP Currency Call | MSCO | COP
3053.080 |
6/26/19 | COP
(108,168,000) |
COP 305,308,000 | 219,041 | (136,292 | ) | ||||||||||||||
COP Currency Put | MSCO | COP
3280.560 |
6/26/19 | COP
(116,228,000) |
COP 328,056,000 | 219,042 | (404,473 | ) |
66 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Over-the-Counter Options Written (Continued) |
| |||||||||||||||||||||
Number of | Notional | |||||||||||||||||||||
Counter | Exercise | Expiration | Contracts | Amount | Premiums | |||||||||||||||||
Description | -party | Price | Date | (000s) | (000s) | Received | Value | |||||||||||||||
EUR Currency Call | BOA | INR
80.750 |
6/20/19 | EUR
(28,300) |
EUR 100,000 | $ | 362,850 | $ (259,457 | ) | |||||||||||||
EUR Currency Put | CITNA-B | ZAR
15.750 |
6/27/19 | EUR
(70,900) |
EUR 200,000 | 617,528 | (902,805 | ) | ||||||||||||||
EUR Currency Call | GSCO-OT | INR
81.200 |
7/18/19 | EUR
(70,700) |
EUR 150,000 | 1,532,549 | (824,624 | ) | ||||||||||||||
EUR Currency Call4 | GSCO-OT | NOK
11.000 |
1/6/21 | EUR
(7,075) |
EUR 10,000 | 1,417,482 | (941,915 | ) | ||||||||||||||
EUR Currency Call5 | GSCO-OT | ZAR
20.000 |
3/30/20 | EUR
(6,307) |
EUR 18,245 | 1,237,110 | (1,563,925 | ) | ||||||||||||||
EUR Currency Call | GSCO-OT | INR
85.340 |
9/3/19 | EUR
(35,400) |
EUR 110,000 | 693,332 | (184,749 | ) | ||||||||||||||
EUR Currency Call | GSCO-OT | KRW
1303.350 |
9/30/19 | EUR
(53,140) |
EUR 150,000 | 721,986 | (882,152 | ) | ||||||||||||||
EUR Currency Put | GSCO-OT | ZAR
15.750 |
7/10/19 | EUR
(17,880) |
EUR 75,000 | 585,585 | (246,663 | ) | ||||||||||||||
EUR Currency Call | JPM | INR
80.400 |
6/21/19 | EUR
(31,890) |
EUR 100,000 | 416,231 | (346,129 | ) | ||||||||||||||
EUR Currency Call | JPM | INR
83.000 |
8/5/19 | EUR
(35,400) |
EUR 105,000 | 593,500 | (281,116 | ) | ||||||||||||||
EUR Currency Put | JPM | RUB
73.800 |
8/5/19 | EUR
(35,400) |
EUR 105,000 | 395,362 | (627,442 | ) | ||||||||||||||
EUR Currency Call | JPM | ZAR
16.793 |
5/31/19 | EUR
(35,350) |
EUR 75,000 | 547,702 | (699,146 | ) | ||||||||||||||
EUR Currency Put | JPM | ZAR
15.035 |
5/31/19 | EUR
(35,350) |
EUR 75,000 | 421,069 | (72,982 | ) | ||||||||||||||
EUR Currency Call | JPM | CLP
796.350 |
7/15/19 | EUR
(17,700) |
EUR 50,000 | 352,557 | (176,189 | ) | ||||||||||||||
EUR Currency Call | JPM | ZAR
17.438 |
7/10/19 | EUR
(17,880) |
EUR 75,000 | 982,639 | (333,325 | ) | ||||||||||||||
EUR Currency Call | JPM | ZAR
19.700 |
1/6/20 | EUR
(17,700) |
EUR 75,000 | 649,869 | (398,542 | ) | ||||||||||||||
EUR Currency Call | JPM | ZAR
17.825 |
8/13/19 | EUR
(17,700) |
EUR 50,000 | 329,651 | (355,029 | ) | ||||||||||||||
EUR Currency Put | JPM | RUB
71.400 |
6/27/19 | EUR
(63,683) |
EUR 200,000 | 431,434 | (370,267 | ) |
67 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Over-the-Counter Options Written (Continued) |
| |||||||||||||||||||||
Number of | Notional | |||||||||||||||||||||
Counter | Exercise | Expiration | Contracts | Amount | Premiums | |||||||||||||||||
Description | -party | Price | Date | (000s) | (000s) | Received | Value | |||||||||||||||
EUR Currency Put | JPM | ZAR
14.713 |
1/6/20 | EUR
(17,700) |
EUR 75,000 | $ | 234,058 | $ (125,079 | ) | |||||||||||||
EUR Currency Put | JPM | ZAR
15.300 |
8/13/19 | EUR
(17,700) |
EUR 50,000 | 329,651 | (148,638 | ) | ||||||||||||||
French Republic Government Bonds Call |
MSCO | EUR
104.030 |
6/25/19 | EUR
(67,200) |
EUR 70,373,856 | 577,195 | (666,468 | ) | ||||||||||||||
IDR Currency Put | GSCO-OT | IDR
15000.000 |
7/10/19 | IDR
(1,110,000,000) |
IDR 3,005,250,000 | 2,701,000 | | |||||||||||||||
INR Currency Put | GSCO-OT | INR
80.050 |
10/14/19 | INR
(2,870,900) |
INR 8,005,000 | 717,276 | (68,901 | ) | ||||||||||||||
INR Currency Call | GSCO-OT | INR
67.000 |
6/21/19 | INR
(1,185,200) |
INR 6,700,000 | 51,229 | (31,621 | ) | ||||||||||||||
INR Currency Put | GSCO-OT | INR
71.650 |
6/21/19 | INR
(1,267,470) |
INR 7,165,000 | 107,713 | (148,535 | ) | ||||||||||||||
JPY Currency Put | BOA | JPY
111.300 |
4/24/19 | JPY
(15,745,331) |
JPY 22,260,000 | 698,850 | (458,189 | ) | ||||||||||||||
JPY Currency Call | BOA | JPY
104.150 |
4/24/19 | JPY
(14,733,839) |
JPY 20,830,000 | 490,892 | (13,555 | ) | ||||||||||||||
JPY Currency Put | BOA | JPY
113.000 |
8/22/19 | JPY
(11,993,600) |
JPY 16,950,000 | 569,112 | (520,162 | ) | ||||||||||||||
JPY Currency Call | BOA | JPY
105.000 |
8/22/19 | JPY
(11,144,500) |
JPY 15,750,000 | 826,285 | (594,225 | ) | ||||||||||||||
JPY Currency Call | SCB | JPY
105.000 |
8/22/19 | JPY
(11,144,500) |
JPY 15,750,000 | 827,347 | (594,225 | ) | ||||||||||||||
JPY Currency Put | SCB | JPY
113.000 |
8/22/19 | JPY
(11,993,500) |
JPY 16,950,000 | 604,451 | (520,158 | ) | ||||||||||||||
KRW Currency Call6 | GSCO-OT | KRW
1115.000 |
7/18/19 | KRW
(39,471,000) |
KRW 111,500,000 | 230,100 | (140,122 | ) | ||||||||||||||
KRW Currency Put | GSCO-OT | KRW
1155.000 |
7/18/19 | KRW
(40,887,000) |
KRW 115,500,000 | 244,260 | (290,707 | ) | ||||||||||||||
MXN Currency Put | BOA | MXN
22.363 |
1/14/20 | MXN
(1,582,090) |
MXN 2,236,250 | 1,599,246 | (982,842 | ) | ||||||||||||||
MXN Currency Put | CITNA-B | MXN
19.625 |
4/16/19 | MXN
(1,390,689) |
MXN 1,962,500 | 328,273 | (461,681 | ) | ||||||||||||||
MXN Currency Call | CITNA-B | MXN
19.000 |
4/16/19 | MXN
(1,346,399) |
MXN 1,900,000 | 328,274 | (128,096 | ) |
68 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Over-the-Counter Options Written (Continued) |
| |||||||||||||||||||||
Number of | Notional | |||||||||||||||||||||
Counter | Exercise | Expiration | Contracts | Amount | Premiums | |||||||||||||||||
Description | -party | Price | Date | (000s) | (000s) | Received | Value | |||||||||||||||
MXN Currency Put | CITNA-B | MXN
22.828 |
8/15/19 | MXN
(399,500) |
MXN 1,712,108 | $ | 449,037 | $ | (53,134 | ) | ||||||||||||
MXN Currency Put | GSCO-OT | MXN
22.562 |
3/4/20 | MXN
(1,064,300) |
MXN 4,512,300 | 1,044,322 | (783,101 | ) | ||||||||||||||
MXN Currency Call | GSCO-OT | MXN
18.099 |
3/4/20 | MXN
(853,750) |
MXN 3,619,700 | 418,702 | (256,099 | ) | ||||||||||||||
MXN Currency Put | SCB | MXN
20.250 |
6/18/19 | MXN
(1,435,725) |
MXN 3,037,500 | 419,161 | (745,213 | ) | ||||||||||||||
MXN Currency Call | SCB | MXN
18.550 |
6/18/19 | MXN
(1,315,195) |
MXN 2,782,500 | 267,151 | (207,262 | ) | ||||||||||||||
RUB Currency Call | GSCO-OT | RUB
60.000 |
2/5/21 | RUB
(1,062,000) |
RUB 6,300,000 | 158,840 | (150,868 | ) | ||||||||||||||
RUB Currency Put | GSCO-OT | RUB
80.000 |
2/5/21 | RUB
(1,416,000) |
RUB 8,400,000 | 812,731 | (727,867 | ) | ||||||||||||||
RUB Currency Put | JPM | RUB
70.000 |
6/7/19 | RUB
(5,020,900) |
RUB 17,500,000 | 2,012,362 | (492,048 | ) | ||||||||||||||
RUB Currency Call | JPM | RUB
60.000 |
2/25/21 | RUB
(3,184,100) |
RUB 4,500,000 | 578,179 | (461,981 | ) | ||||||||||||||
RUB Currency Put | JPM | RUB
80.000 |
2/25/21 | RUB
(4,245,500) |
RUB 6,000,000 | 2,365,858 | (2,256,016 | ) | ||||||||||||||
S&P 500 Index Put | BOA | USD
2335.470 |
2/21/20 | USD
(53) |
USD 150,386 | 3,078,542 | (2,373,006 | ) | ||||||||||||||
S&P 500 Index Put | GSCO-OT | USD
2397.620 |
3/13/20 | USD
(50) |
USD 142,203 | 2,731,287 | (2,826,826 | ) | ||||||||||||||
S&P 500 Index Put | JPM | USD
2378.810 |
2/26/20 | USD
(38) |
USD 106,664 | 2,103,192 | (1,912,762 | ) | ||||||||||||||
SGD Currency Call | GSCO-OT | CNY
5.052 |
5/17/19 | SGD
(53,100) |
SGD 150,000 | 129,733 | (40,461 | ) | ||||||||||||||
SGD Currency Put | GSCO-OT | CNY
4.862 |
5/17/19 | SGD
(53,100) |
SGD 150,000 | 68,797 | (26,717 | ) | ||||||||||||||
TRY Currency Call | GSCO-OT | TRY
5.250 |
10/16/19 | TRY
(185,500) |
TRY 536,650 | 437,957 | (460,786 | ) | ||||||||||||||
TRY Currency Put | GSCO-OT | TRY
6.750 |
1/15/20 | TRY
(238,810) |
TRY 702,000 | 1,660,419 | (3,697,450 | ) | ||||||||||||||
TRY Currency Call | GSCO-OT | TRY
5.367 |
2/27/20 | TRY
(190,000) |
TRY 536,650 | 360,386 | (656,550 | ) |
69 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Over-the-Counter Options Written (Continued) |
|
|||||||||||||||||||||||||
Description | Counter -party |
Exercise Price |
Expiration Date |
Number of Contracts (000s) |
Notional Amount (000s) |
Premiums Received |
Value | |||||||||||||||||||
ZAR Currency Put | GSCO-OT |
|
ZAR
16.208 |
|
1/27/20 | ZAR
(286,705) |
ZAR 1,215,563 | $ | 518,413 | $ | (635,144 | ) | ||||||||||||||
ZAR Currency Call | GSCO-OT |
|
ZAR
12.283 |
|
1/27/20 | ZAR
(217,282) |
ZAR 921,225 | 187,263 | (63,668 | ) | ||||||||||||||||
ZAR Currency Put | GSCO-OT |
|
ZAR
15.000 |
|
8/23/19 | ZAR
(1,326,700) |
ZAR 5,250,000 | 2,194,450 | (3,029,612 | ) | ||||||||||||||||
ZAR Currency Put | GSCO-OT |
|
ZAR
14.738 |
|
5/16/19 | ZAR
(1,044,327) |
ZAR 1,473,800 | 1,367,659 | (1,310,547 | ) | ||||||||||||||||
ZAR Currency Put | GSCO-OT |
|
ZAR
14.646 |
|
5/27/19 | ZAR
(263,628) |
ZAR 1,464,600 | 482,472 | (432,878 | ) | ||||||||||||||||
Total Over-the-Counter Options Written |
|
$ | 60,140,452 | $ | (50,946,008 | ) | ||||||||||||||||||||
1. Knock-out option becomes ineligible for exercise if at any time spot rates are less than or equal to 3.70 BRL/USD.
2. Knock-out option becomes ineligible for exercise if at any time spot rates are less than or equal to 3.61 BRL/USD.
3. Knock-out option becomes ineligible for exercise if at any time spot rates are less than or equal to 3.60 BRL/USD.
4. Knock-out option becomes ineligible for exercise if at any time spot rates are less than or equal to 9.40 NOK/EUR.
5. Knock-out option becomes ineligible for exercise if at any time spot rates are less than or equal to 15.50 ZAR/EUR.
6. Knock-out option becomes ineligible for exercise if at any time spot rates are less than or equal to 1,085.00 KRW/USD.
Centrally Cleared Credit Default Swaps at March 31, 2019 | ||||||||||||||||||||||||||
Reference Asset | Buy/Sell Protection |
Fixed Rate |
Maturity Date |
Notional Amount (000s) |
Premiums Received/ (Paid) |
Value | Unrealized
Appreciation/ (Depreciation) |
|||||||||||||||||||
Brazilian Government International | Buy | 1.000% | 6/20/24 | USD 2,500 | $(90,690) | $ | 87,697 | $ | (2,993 | ) | ||||||||||||||||
Brazilian Government International | Buy | 1.000 | 6/20/24 | USD 5,250 | (198,670) | 184,448 | (14,222 | ) | ||||||||||||||||||
Brazilian Government International | Buy | 1.000 | 6/20/24 | USD 4,500 | (171,995) | 158,099 | (13,896 | ) | ||||||||||||||||||
CDX.EM.31 | Buy | 1.000 | 6/20/24 | USD 5,500 | (192,011) | 199,669 | 7,658 | |||||||||||||||||||
CDX.EM.31 | Buy | 1.000 | 6/20/24 | USD 5,000 | (174,556) | 181,733 | 7,177 | |||||||||||||||||||
CDX.HY.32 | Buy | 5.000 | 6/20/24 | USD 106,000 | 6,344,571 | (7,259,028 | ) | (914,457 | ) | |||||||||||||||||
Federative Republic of Brazil | Sell | 1.000 | 6/20/22 | USD 7,500 | 464,303 | (44,846 | ) | 419,457 | ||||||||||||||||||
Mexico Government International | Buy | 1.000 | 6/20/24 | USD 8,750 | (186,893) | 87,251 | (99,642 | ) | ||||||||||||||||||
Mexico Government International | Buy | 1.000 | 6/20/24 | USD 7,750 | (165,534) | 76,935 | (88,599 | ) | ||||||||||||||||||
Mexico Government International | Buy | 1.000 | 6/20/24 | USD 4,000 | (57,754) | 39,708 | (18,046 | ) |
70 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Centrally Cleared Credit Default Swaps (Continued) |
| |||||||||||||||||||||||||||||
Reference Asset | Buy/Sell Protection |
Fixed Rate |
Maturity Date |
Notional Amount (000s) |
Premiums Received/ (Paid) |
Value | Unrealized Appreciation/ (Depreciation) |
|||||||||||||||||||||||
Republic Of South Africa Gover | Buy | 1.000% | 6/20/24 | USD | 4,500 | $ (202,855) | $ 209,328 | $ | 6,473 | |||||||||||||||||||||
Republic Of South Africa Gover | Buy | 1.000 | 6/20/24 | USD | 6,500 | (293,013) | 302,362 | 9,349 | ||||||||||||||||||||||
Russian Foreign Bond - Eurobon | Buy | 1.000 | 6/20/24 | USD | 4,000 | (75,484) | 65,605 | (9,879 | ) | |||||||||||||||||||||
Total Centrally Cleared Credit Default Swaps |
|
$ 4,999,419 | $ (5,711,039 | ) | $ | (711,620 | ) | |||||||||||||||||||||||
Over-the-Counter Credit Default Swaps at March 31, 2019 |
| |||||||||||||||||||||||||||||||||||
Reference Asset | Counter- party |
Buy/Sell Protection |
Fixed Rate |
Maturity Date |
Notional Amount (000s) |
Premiums Received/ (Paid) |
Value | Unrealized Appreciation/ (Depreciation) |
||||||||||||||||||||||||||||
Hellenic Republic | BAC | Sell | 1.000 | 6/20/25 | USD | 3,586 | $ | 596,602 | $ | (533,427 | ) | $ | 63,175 | |||||||||||||||||||||||
Hellenic Republic | BAC | Sell | 1.000 | 6/20/25 | USD | 8,966 | 1,343,371 | (1,333,716 | ) | 9,655 | ||||||||||||||||||||||||||
Hellenic Republic | BAC | Sell | 1.000 | 12/20/25 | USD | 8,350 | 1,298,472 | (1,361,870 | ) | (63,398 | ) | |||||||||||||||||||||||||
Hellenic Republic | BAC | Sell | 1.000 | 12/20/19 | USD | 6,000 | 90,026 | 422 | 90,448 | |||||||||||||||||||||||||||
Hellenic Republic | GSCOI | Sell | 1.000 | 6/20/25 | USD | 3,590 | 566,429 | (534,022 | ) | 32,407 | ||||||||||||||||||||||||||
iTraxx Europe Crossover Series 24 Version 1 | JPM | Sell | 5.000 | 12/20/20 | EUR | 7,100 | (513,179 | ) | 548,509 | 35,330 | ||||||||||||||||||||||||||
Oriental Republic of Uruguay | BOA | Sell | 1.000 | 12/20/21 | USD | 7,501 | 135,566 | 108,253 | 243,819 | |||||||||||||||||||||||||||
State Bank of India | BNP | Sell | 1.000 | 9/20/19 | USD | 5,225 | 215,578 | 22,680 | 238,258 | |||||||||||||||||||||||||||
Total Over-the-Counter Credit Default Swaps |
|
$ | 3,732,865 | $ (3,083,171 | ) | $ | 649,694 | |||||||||||||||||||||||||||||
The table that follows shows the undiscounted maximum potential payment by the Fund related to selling credit protection in credit default swaps:
Type of Reference Asset on which the Fund Sold Protection |
Total Maximum Potential Payments for Selling Credit Protection (Undiscounted) |
Amount Recoverable* |
Reference Asset Rating Range** | |||||||
Investment Grade Single | ||||||||||
Name Corporate Debt | $ | 5,225,000 | $ | | BBB- | |||||
Non-Investment Grade | ||||||||||
Corporate Debt | 7,100,000 | | C | |||||||
Investment Grade | ||||||||||
Sovereign Debt | 7,501,000 | | BBB | |||||||
Non-Investment Grade | ||||||||||
Sovereign Debt | 37,992,000 | 9,750,000 | BB- to BB | |||||||
|
|
|
|
|||||||
Total USD | $ | 57,818,000 | $ | 9,750,000 | ||||||
|
|
|
|
* Amounts recoverable includes potential payments from related purchased protection for instances where the Fund is the seller of protection. In addition, the Fund has no recourse provisions under the credit derivatives and holds no collateral which can offset or reduce potential payments under a triggering event.
** The period end reference asset security ratings, as rated by any rating organization, are included in the equivalent Standard & Poors rating category. The reference asset rating represents the likelihood of a potential credit event on the reference asset which would result in a related payment by the Fund.
71 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Centrally Cleared Interest Rate Swaps at March 31, 2019 |
| |||||||||||||||||||||
Pay/Receive | Notional | Premiums | Unrealized | |||||||||||||||||||
Counter- | Floating | Floating | Fixed | Maturity | Amount | Received / | Appreciation/ | |||||||||||||||
party | Rate | Rate | Rate | Date | (000s) | (Paid) | Value | (Depreciation) | ||||||||||||||
BAC | Receive | Six-Month EUR EURIBOR | 1.123% | 3/8/28 | EUR 5,775 | $ | | $ | (435,445 | ) | $ | (435,445 | ) | |||||||||
BNP | Receive | Six-Month HUF- BUBOR-Reuters | 3.280 | 10/26/28 | HUF 1,144,300 |
| (550,485 | ) | (550,485 | ) | ||||||||||||
BNP | Pay | MXN TIIE BANXICO | 8.000 | 8/13/20 | MXN 762,185 | | (33,506 | ) | (33,506 | ) | ||||||||||||
BNP | Pay | Six-Month HUF- BUBOR-Reuters | 1.210 | 10/26/20 | HUF 5,054,000 |
| 262,921 | 262,921 | ||||||||||||||
BOA | Pay | BZDI | 9.160 | 7/1/22 | BRL 355,100 | | (86,480 | ) | (86,480 | ) | ||||||||||||
BOA | Receive | Three-Month USD BBA LIBOR | 2.304 | 5/30/22 | USD 205,100 | | (165,725 | ) | (165,725 | ) | ||||||||||||
BOA | Pay | BBSW3M | 1.560 | 3/22/22 | AUD 50,250 | | (724,480 | ) | (724,480 | ) | ||||||||||||
BOA | Receive | Three-Month USD BBA LIBOR | 2.410 | 3/26/22 | USD 35,400 | | (99,568 | ) | (99,568 | ) | ||||||||||||
BOA | Receive | Three-Month USD BBA LIBOR | 2.320 | 3/28/22 | USD 24,100 | | (9,299 | ) | (9,299 | ) | ||||||||||||
BOA | Pay | BBSW3M | 1.470 | 3/26/22 | AUD 33,600 | | (12,407 | ) | (12,407 | ) | ||||||||||||
BOA | Receive | Three-Month USD BBA LIBOR | 2.320 | 3/28/22 | USD 60,850 | | (23,478 | ) | (23,478 | ) | ||||||||||||
BOA | Pay | BBSW3M | 1.500 | 3/26/22 | AUD 83,500 | | 21,436 | 21,436 | ||||||||||||||
BOA | Receive | BZDI | 6.550 | 1/2/20 | BRL 78,230 | | (8,588 | ) | (8,588 | ) | ||||||||||||
CITNA-B | Pay | Six-Month HUF BUBOR | 2.205 | 3/8/28 | HUF 1,925,000 | | 199,674 | 199,674 | ||||||||||||||
CITNA-B | Receive | JIBA3M | 8.050 | 2/22/29 | ZAR 70,800 | | (28,260 | ) | (28,260 | ) | ||||||||||||
CITNA-B | Receive | JIBA3M | 7.250 | 7/10/20 | ZAR 261,000 | | (34,172 | ) | (34,172 | ) | ||||||||||||
DEU | Pay | MXN TIIE BANXICO | 8.525 | 1/15/24 | MXN 169,550 | | 250,864 | 250,864 | ||||||||||||||
DEU | Pay | Three-Month ZAR JIBAR SAFEX | 7.675 | 2/21/22 | ZAR 73,535 | | 64,153 | 64,153 | ||||||||||||||
DEU | Pay | JIBA3M | 8.420 | 8/29/28 | ZAR 156,300 | | 359,238 | 359,238 | ||||||||||||||
DEU | Receive | JIBA3M | 7.500 | 8/15/20 | ZAR 333,700 | | (126,607 | ) | (126,607 | ) | ||||||||||||
DEU | Receive | JIBA3M | 7.120 | 6/29/19 | ZAR 513,850 | | 3,273 | 3,273 | ||||||||||||||
GSCOI | Pay | COOVIBR | 4.380 | 3/5/20 | COP 112,300,000 |
| 55,056 | 55,056 | ||||||||||||||
GSCOI | Pay | SORF6M | 1.980 | 3/4/21 | SGD 121,800 | | 128,632 | 128,632 | ||||||||||||||
GSCOI | Receive | SORF6M | 2.073 | 3/4/24 | SGD 49,900 | | (244,978 | ) | (244,978 | ) | ||||||||||||
GSCOI | Pay | MXN TIIE BANXICO | 8.055 | 3/2/22 | MXN 506,800 | | 116,975 | 116,975 | ||||||||||||||
GSCOI | Pay | COOVIBR | 4.380 | 2/26/20 | COP 226,600,000 | | 82,108 | 82,108 | ||||||||||||||
GSCOI | Receive | COOVIBR | 4.925 | 3/5/22 | COP 38,900,000 | | (77,950 | ) | (77,950 | ) | ||||||||||||
GSCOI | Pay | COOVIBR | 4.380 | 1/10/20 | COP 119,650,000 | | 55,482 | 55,482 | ||||||||||||||
GSCOI | Pay | MXN TIIE BANXICO | 8.620 | 12/26/28 | MXN 86,300 | | 156,977 | 156,977 | ||||||||||||||
GSCOI | Pay | Six-Month GBP-LIBOR-BBA | 3.450 | 10/15/25 | GBP 17,570 | | 197,698 | 197,698 | ||||||||||||||
GSCOI | Pay | COOVIBR | 4.610 | 6/7/20 | COP 52,590,000 |
| 75,246 | 75,246 |
72 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Centrally Cleared Interest Rate Swaps (Continued) |
| |||||||||||||||||||||
Pay/Receive |
Notional | Premiums | Unrealized | |||||||||||||||||||
Counter- | Floating | Floating | Fixed | Maturity | Amount | Received / | Appreciation/ | |||||||||||||||
party | Rate | Rate | Rate | Date | (000s) | (Paid) | Value | (Depreciation) | ||||||||||||||
GSCOI | Pay | BZDI | 11.730% | 1/2/25 | BRL 44,700 | $ | | $ | 1,255,249 | $ | 1,255,249 | |||||||||||
GSCOI | Receive | BZDI | 8.235 | 1/2/20 | BRL 112,600 | | (654,855 | ) | (654,855 | ) | ||||||||||||
GSCOI | Pay | MXN TIIE BANXICO | 7.760 | 9/25/20 | MXN 728,000 | | (123,437 | ) | (123,437 | ) | ||||||||||||
GSCOI | Pay | MXN TIIE BANXICO | 8.480 | 10/27/20 | MXN 374,270 | | 97,961 | 97,961 | ||||||||||||||
GSCOI | Pay | MXN TIIE BANXICO | 8.770 | 10/29/20 | MXN 780,300 | | 384,914 | 384,914 | ||||||||||||||
GSCOI | Receive | Three-Month USD BBA LIBOR | 2.281 | 5/30/22 | USD 228,500 | | (33,923 | ) | (33,923 | ) | ||||||||||||
GSCOI | Pay | Three-Month COP IBR OIS Compound | 6.500 | 11/9/28 | COP 14,600,000 | | 210,155 | 210,155 | ||||||||||||||
HSBC | Receive | MXN TIIE BANXICO | 8.600 | 1/18/29 | MXN 97,800 | | (169,910 | ) | (169,910 | ) | ||||||||||||
HSBC | Pay | MXN TIIE BANXICO | 8.320 | 1/28/21 | MXN 364,000 | | 81,959 | 81,959 | ||||||||||||||
JPM | Pay | MXN TIIE BANXICO | 8.750 | 10/29/20 | MXN 1,561,000 | | 745,351 | 745,351 | ||||||||||||||
JPM | Pay | Three-Month USD BBA LIBOR | 2.275 | 9/3/24 | USD 62,600 | | 59,114 | 59,114 | ||||||||||||||
JPM | Pay | Three-Month ZAR JIBAR SAFEX | 7.930 | 11/27/22 | ZAR 45,000 | | 65,606 | 65,606 | ||||||||||||||
JPM | Pay | BUBOR06M | 1.185 | 1/8/22 | HUF 3,300,000 | | 150,738 | 150,738 | ||||||||||||||
JPM | Pay | BZDI | 10.940 | 1/2/23 | BRL 55,230 | | 1,128,985 | 1,128,985 | ||||||||||||||
JPM | Pay | BZDI | 9.230 | 7/1/22 | BRL 372,000 | | (67,247 | ) | (67,247 | ) | ||||||||||||
JPM | Pay | COOVIBR | 4.890 | 10/17/20 | COP 113,100,000 | | 360,208 | 360,208 | ||||||||||||||
JPM | Pay | BZDI | 9.280 | 7/1/22 | BRL 289,100 | | (39,310 | ) | (39,310 | ) | ||||||||||||
JPM | Pay | MXN TIIE BANXICO | 8.600 | 10/27/20 | MXN 381,330 | | 135,991 | 135,991 | ||||||||||||||
JPM | Receive | BUBOR06M | 2.265 | 1/8/29 | HUF 1,080,000 | | (117,875 | ) | (117,875 | ) | ||||||||||||
SIB | Receive | BZDI | 6.560 | 1/2/20 | BRL 136,900 | | (18,500 | ) | (18,500 | ) | ||||||||||||
SIB | Pay | BZDI | 9.825 | 7/1/20 | BRL 362,500 | | 1,051,238 | 1,051,238 | ||||||||||||||
UBS | Receive | BBSW6M | 1.823 | 3/21/24 | AUD 104,400 | | (426,614 | ) | (426,614 | ) | ||||||||||||
UBS | Pay | BBSW3M | 1.560 | 3/21/21 | AUD 255,400 | | 201,117 | 201,117 | ||||||||||||||
Total Centrally Cleared Interest Rate Swaps | $ | | $ | 3,645,220 | $ | 3,645,220 | ||||||||||||||||
Over-the-Counter Interest Rate Swaps at March 31, 2019 |
| |||||||||||||||||||||
Pay/Receive | Notional | Premiums | Unrealized | |||||||||||||||||||
Counter- | Floating | Floating | Fixed | Maturity | Amount | Received / | Appreciation/ | |||||||||||||||
party | Rate | Rate | Rate | Date | (000s) | (Paid) | Value | (Depreciation) | ||||||||||||||
BOA | Pay | Six-Month INR FBIL MIBOR OIS Compound | 6.330% | 1/31/22 | INR 590,000 | $ | | $ | 132,621 | $ | 132,621 |
73 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Over-the-Counter Interest Rate Swaps (Continued) | ||||||||||||||||||||||
Pay/Receive |
Notional | Premiums | Unrealized | |||||||||||||||||||
Counter- | Floating | Floating | Fixed | Maturity | Amount | Received / | Appreciation/ | |||||||||||||||
party | Rate | Rate | Rate | Date | (000s) | (Paid) | Value | (Depreciation) | ||||||||||||||
BOA | Receive | Six-Month INR FBIL MIBOR OIS Compound | 5.790% | 3/6/21 | INR 3,367,000 | $ | | $ | (29,060 | ) | $ | (29,060 | ) | |||||||||
GSCOI | Receive | KWCDC | 1.800 | 3/5/24 | KRW 40,752,000 | | (300,598 | ) | (300,598 | ) | ||||||||||||
GSCOI | Pay | KWCDC | 1.875 | 3/5/20 | KRW 200,148,000 | | 121,766 | 121,766 | ||||||||||||||
SCB | Receive | Six-Month INR FBIL MIBOR OIS Compound | 6.438 | 1/10/24 | INR 600,000 | | (239,426 | ) | (239,426 | ) | ||||||||||||
Total Over-the-Counter Interest Rate Swaps | $ | | $ | (314,697 | ) | $ | (314,697 | ) | ||||||||||||||
Over-the-Counter Credit Default Swaptions Written at March 31, 2019 |
| |||||||||||||||||||||
Notional | ||||||||||||||||||||||
Counter- | Buy/Sell | Reference | Fixed | Expiration | Amount | Premiums | ||||||||||||||||
Description | party | Protection | Asset | Rate | Date | (000s) | Received | Value | ||||||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | CDX. NA.HY.31 | 5.000% | 4/17/19 | USD | 88,500 | $ | 160,450 | $ | (16,903 | ) | ||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | CDX. NA.HY.31 | 5.000 | 4/17/19 | USD | 88,500 | 216,825 | (24,161 | ) | ||||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | iTraxx Europe Crossover Series 30 Version 2 | 5.000 | 5/15/19 | EUR | 88,400 | 246,780 | (175,716 | ) | ||||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | iTraxx Europe Crossover Series 30 Version 2 | 5.000 | 5/15/19 | EUR | 88,400 | 394,848 | (283,506 | ) | ||||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | iTraxx Europe Crossover Series 30 Version 2 | 5.000 | 4/17/19 | EUR | 123,760 | 324,763 | (120,225 | ) | ||||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | CDX. NA.HY.31 | 5.000 | 5/15/19 | USD | 70,900 | 270,980 | (77,494 | ) | ||||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | CDX. NA.HY.31 | 5.000 | 5/15/19 | USD | 70,900 | 298,773 | (90,468 | ) | ||||||||||||
Credit Default Swap maturing 12/20/23 Put | JPM | Sell | CDX. NA.HY.31 | 5.000 | 6/19/19 | USD | 141,725 | 800,746 | (608,284 | ) | ||||||||||||
|
|
| ||||||||||||||||||||
Total Over-the-Counter Credit Default Swaptions Written | $ | 2,714,165 | $ | (1,396,757 | ) | |||||||||||||||||
|
|
|
74 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Over-the-Counter Interest Rate Swaptions Written at March 31, 2019 |
| |||||||||||||||||||||||||||||||||||
Description | Counter- party |
Pay/ Receive Floating |
Floating Rate |
Fixed Rate |
Expiration Date |
Notional Amount (000s) |
Premiums Received |
Value | ||||||||||||||||||||||||||||
Interest Rate Swap maturing 5/14/29 Call | BOA | Receive | |
Three-Month CAD-BA-CDOR |
|
2.394% | 5/14/19 | CAD | 95,400 | $ | 644,619 | $ | (2,033,013 | ) | ||||||||||||||||||||||
Interest Rate Swap maturing 3/25/25 Call | BOA | Receive | |
Three- Month USD- LIBOR- BBA |
|
1.916 | 3/23/20 | USD | 353,800 | 1,753,787 | (2,132,738 | ) | ||||||||||||||||||||||||
Interest Rate Swap maturing 9/25/24 Call | BOA | Receive | |
Three- Month USD- LIBOR- BBA |
|
2.055 | 9/23/19 | USD | 353,800 | 1,362,130 | (1,528,791 | ) | ||||||||||||||||||||||||
Interest Rate Swap maturing 5/30/24 Put | GSCOI | Pay | |
Six- Month PLN- WIBOR- WIBO |
|
2.095 | 5/28/19 | PLN | 35,000 | 38,787 | (11,710 | ) | ||||||||||||||||||||||||
Interest Rate Swap maturing 5/30/24 Call | GSCOI | Receive | |
Six- Month PLN- WIBOR- WIBO |
|
2.095 | 5/28/19 | PLN | 35,000 | 38,787 | (67,390 | ) | ||||||||||||||||||||||||
Interest Rate Swap maturing 8/12/29 Put | JPM | Pay | |
Six- Month EUR EURIBOR |
|
0.868 | 8/8/19 | EUR | 265,300 | 1,409,494 | (373,828 | ) | ||||||||||||||||||||||||
Interest Rate Swap maturing 9/5/24 Call | JPM | Receive | |
Three- Month USD- LIBOR- BBA |
|
2.400 | 9/3/19 | USD | 177,015 | 743,463 | (1,973,834 | ) | ||||||||||||||||||||||||
Interest Rate Swap maturing 9/6/24 Call | JPM | Receive | |
Three- Month USD- LIBOR- BBA |
|
2.400 | 9/4/19 | USD | 177,000 | 743,400 | (1,978,218 | ) | ||||||||||||||||||||||||
Interest Rate Cap maturing 2/22/21 Put | MSCO | Pay | |
MAX [((CMS10 minus CMS2) minus 0.52%), 0.00%] * 10 |
|
52.000 | 2/25/21 | USD | 85,000 | 646,000 | (797,300 | ) |
75 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Over-the-Counter Interest Rate Swaptions Written (Continued) |
| |||||||||||||||||||||||||||||||||||
Description | Counter- party |
Pay/ Receive Floating Rate |
Floating Rate |
Fixed Rate |
Expiration Date |
Notional Amount |
Premiums Received |
Value | ||||||||||||||||||||||||||||
Interest Rate Floor maturing 2/22/21 Call | MSCO | Pay | |
MAX [(0.02% minus (CMS10 minus CMS2)), 0.00%] * 10 |
|
0.020% | 2/25/21 | USD | 85,000 | $ | 935,000 | $ | (493,000 | ) | ||||||||||||||||||||||
Interest Rate Swap maturing 5/3/24 Call | NOM | Receive | |
Three- Month USD- LIBOR- BBA |
|
2.346 | 5/1/19 | USD | 194,500 | 311,200 | (1,053,543 | ) | ||||||||||||||||||||||||
Total Over-the-Counter Interest Rate Swaptions Written |
|
$ | 8,626,667 | $ | (12,443,365 | ) | ||||||||||||||||||||||||||||||
Glossary: | ||
Counterparty Abbreviations | ||
BAC | Barclays Bank plc | |
BNP | BNP Paribas | |
BOA | Bank of America NA | |
CITNA-B | Citibank NA | |
DEU | Deutsche Bank AG | |
GSCOI | Goldman Sachs International | |
GSCO-OT | Goldman Sachs Bank USA | |
HSBC | HSBC Bank USA NA | |
JPM | JPMorgan Chase Bank NA | |
MSCO | Morgan Stanley Capital Services, Inc. | |
NOM | Nomura Global Financial Products, Inc. | |
RBC | RBC Dominion Securities | |
SCB | Standard Chartered Bank | |
SIB | Banco Santander SA | |
UBS | UBS AG |
Currency abbreviations indicate amounts reporting in currencies
ARS | Argentine Peso | |
AUD | Australian Dollar | |
BRL | Brazilian Real | |
CAD | Canadian Dollar | |
CLP | Chilean Peso | |
CNY | Chinese Renminbi | |
COP | Colombian Peso | |
EGP | Egyptian Pounds | |
EUR | Euro | |
GBP | British Pound Sterling | |
HUF | Hungarian Forint | |
IDR | Indonesian Rupiah | |
INR | Indian Rupee | |
JPY | Japanese Yen |
76 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Currency abbreviations indicate amounts reporting in currencies (Continued)
KRW | South Korean Won | |
MXN | Mexican Nuevo Peso | |
MYR | Malaysian Ringgit | |
NOK | Norwegian Krone | |
PLN | Polish Zloty | |
RUB | Russian Ruble | |
SEK | Swedish Krona | |
SGD | Singapore Dollar | |
THB | Thailand Baht | |
TRY | New Turkish Lira | |
UYU | Uruguay Peso | |
ZAR | South African Rand | |
Definitions | ||
30YR CMT | 30 Year Constant Maturity Treasury | |
BA-CDOR | Canada Bankers Acceptances Deposit Offering Rate | |
BANXICO | Banco de Mexico | |
BBA LIBOR | British Bankers Association London - Interbank Offered Rate | |
BBSW3M | Bank Bill Swap Reference Rate (Australian Financial Market) 3 Month | |
BBSW6M | Bank Bill Swap Reference Rate (Australian Financial Market) 6 Month | |
BP0003M | ICE LIBOR GBP 3 Month | |
BUBOR | Budapest Interbank Offered Rate | |
BUBOR06M | Budapest Interbank Offered Rate 6 Month | |
BUND | German Federal Obligation | |
BZDI | Brazil Interbank Deposit Rate | |
CDX.EM.31 | Markit CDX Emerging Markets Index | |
CDX.HY.32 | Markit CDX High Yield Index | |
CDX.NA.HY.31 | Markit CDX North American High Yield | |
CMS2 | 2 yr ISDA Swap Floating Rate Option | |
CMS10 | 10 yr ISDA Swap Floating Rate Option | |
COOVIBR | Colombia IBR Overnight Nominal Interbank Reference Rate | |
EUR003M | EURIBOR 3 Month fACT/360 | |
EURIBOR | Euro Interbank Offered Rate | |
EUSA5 | EUR Swap Annual 5 Year | |
EUSA8 | EUR Swap Annual 8 Year | |
EUSA10 | EUR Swap Annual 10 Year | |
EUSA11 | EUR Swap Annual 11 Year | |
FBIL | Financial Benchmarks India Private Ltd. | |
H15T10Y | US Treasury Yield Curve Rate T Note Constant Maturity 10 Year | |
H15T1Y | US Treasury Yield Curve Rate T Note Constant Maturity 1 Year | |
H15T5Y | US Treasury Yield Curve Rate T Note Constant Maturity 5 Year | |
IBR | Indicador Bancario de Referencia | |
ICE LIBOR | Intercontinental Exchange London Interbank Offered Rate | |
iTraxx Europe | ||
Crossover Series 24 | ||
Version 1 | Credit Default Swap Trading Index for a Specific Basket of Securities | |
iTraxx Europe | ||
Crossover Series 30 | ||
Version 2 | Credit Default Swap Trading Index for a Specific Basket of Securities | |
JIBA3M | South Africa Johannesburg Interbank Agreed Rate 3 Month |
77 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF INVESTMENTS Unaudited / Continued
Definitions (Continued) | ||
JIBAR SAFEX | South Africa Johannesburg Interbank Agreed Rate/Futures Exchange | |
KWCDC | South Korean Won Index | |
LIBOR01M | ICE LIBOR USD 1 Month | |
LIBOR4 | London Interbank Offered Rate-Quarterly | |
LIBOR6 | London Interbank Offered Rate-Bi-Monthly | |
LIBOR12 | London Interbank Offered Rate-Monthly | |
MIBOR | Mumbai Interbank Offered Rate | |
OIS | Overnight Index Swap | |
PRIME4 | United States Prime Rate-Quarterly | |
SORF6M | Association of Banks in Singapore Swap Offer Rate Fixing 6 Month | |
S&P | Standard & Poors | |
TIIE | Interbank Equilibrium Interest Rate | |
US0001M | ICE LIBOR USD 1 Month | |
US0003M | ICE LIBOR USD 3 Month | |
USISDA05 | USD ICE Swap Rate 11:00am NY 5 Year | |
USSW5 | USD Swap Semi 30/360 5 Year | |
WIBOR WIBO | Poland Warsaw Interbank Offer Bid Rate | |
See accompanying Notes to Consolidated Financial Statements. |
78 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
ASSETS AND LIABILITIES March 31, 2019 Unaudited
Assets | ||||
Investments, at valuesee accompanying consolidated statement of investments: | ||||
Unaffiliated companies (cost $3,629,736,950) | $ | 3,513,047,129 | ||
Affiliated companies (cost $347,969,976) | 318,423,111 | |||
3,831,470,240 | ||||
Cashforeign currencies (cost $3,979,933) | 3,956,235 | |||
Cash used for collateral on futures | 2,850,000 | |||
Cash used for collateral on OTC derivatives | 43,837,000 | |||
Cash used for collateral on centrally cleared swaps | 6,391,302 | |||
Unrealized appreciation on forward currency exchange contracts | 24,235,639 | |||
Unrealized appreciation on unfunded loan commitments / purchase agreements | 2,498 | |||
Swaps, at value (net premiums paid $72,009) | 934,251 | |||
Centrally cleared swaps, at value (premiums paid $1,809,455) | 9,551,154 | |||
Receivables and other assets: | ||||
Investments sold (including $44,194,414 sold on a when-issued or delayed delivery basis) | 155,622,683 | |||
Interest, dividends and principal paydowns | 41,297,040 | |||
Shares of beneficial interest sold | 1,047,687 | |||
Variation margin receivable | 581,339 | |||
Other | 574,698 | |||
Total assets
|
|
4,122,351,766
|
| |
Liabilities | ||||
Bank overdraft | 4,258,621 | |||
Unrealized depreciation on forward currency exchange contracts | 23,825,265 | |||
Options written, at value (premiums received $60,140,452) | 50,946,008 | |||
Swaps, at value (premiums received $3,804,874) | 4,332,119 | |||
Centrally cleared swaps, at value (premiums received $6,808,874) | 11,616,973 | |||
Swaptions written, at value (premiums received $11,340,832) | 13,840,122 | |||
Payables and other liabilities: | ||||
Investments purchased (including $473,868,531 purchased on a when-issued or delayed delivery basis) | 495,063,948 | |||
Shares of beneficial interest redeemed | 6,954,774 | |||
Dividends | 1,212,718 | |||
Distribution and service plan fees | 667,195 | |||
Trustees compensation | 470,247 | |||
Variation margin payable | 222,771 | |||
Foreign capital gains tax | 42,376 | |||
Shareholder communications | 1,904 | |||
Other | 978,727 | |||
Total liabilities
|
|
614,433,768
|
| |
Net Assets | $ | 3,507,917,998 | ||
|
|
| ||
Composition of Net Assets | ||||
Par value of shares of beneficial interest | $ | 946,878 | ||
Additional paid-in capital | 4,413,435,954 | |||
Total accumulated loss | (906,464,834 | ) | ||
Net Assets | $ | 3,507,917,998 | ||
|
|
|
79 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF
ASSETS AND LIABILITIES Unaudited / Continued
Net Asset Value Per Share | ||
Class A Shares:
|
||
Net asset value and redemption price per share (based on net assets of $2,537,421,719 and 684,643,963 shares of beneficial interest outstanding) | $3.71 | |
Maximum offering price per share (net asset value plus sales charge of 4.75% of offering price) | $3.90 | |
Class C Shares: |
||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $486,665,358 and 131,576,407 shares of beneficial interest outstanding) |
$3.70 | |
Class I Shares:
|
||
Net asset value, redemption price and offering price per share (based on net assets of $42,190,737 and 11,435,546 shares of beneficial interest outstanding) | $3.69 | |
Class R Shares:
|
||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $105,991,701 and 28,577,330 shares of beneficial interest outstanding) | $3.71 | |
Class Y Shares:
|
||
Net asset value, redemption price and offering price per share (based on net assets of $335,648,483 and 90,644,406 shares of beneficial interest outstanding) | $3.70 |
See accompanying Notes to Consolidated Financial Statements.
80 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
OPERATIONS For the Six Months Ended March 31, 2019 Unaudited
Allocation of Income and Expenses from Master Funds1 |
||||
Net investment income allocated from Oppenheimer Master Event-Linked Bond Fund, LLC: | ||||
Interest | $ | 2,915,393 | ||
Dividends | 19,818 | |||
Net expenses | (160,335 | ) | ||
Net investment income allocated from Oppenheimer Master Event-Linked Bond Fund, LLC
|
|
2,774,876
|
| |
Net investment income allocated from Oppenheimer Master Loan Fund, LLC: | ||||
Interest | 10,563,284 | |||
Dividends | 216,783 | |||
Net expenses | (731,517 | ) | ||
Net investment income allocated from Oppenheimer Master Loan Fund, LLC |
|
10,048,550
|
| |
Total allocation of net investment income from master funds
|
|
12,823,426
|
| |
Investment Income |
||||
Interest (net of foreign withholding taxes of $232,845) | 98,371,992 | |||
Fee income on when-issued securities | 1,538,486 | |||
Dividends: | ||||
Unaffiliated companies (net of foreign withholding taxes of $109) | 1,632,599 | |||
Affiliated companies | 2,553,175 | |||
Total investment income
|
|
104,096,252
|
| |
Expenses |
||||
Management fees | 9,857,154 | |||
Distribution and service plan fees: | ||||
Class A | 3,035,980 | |||
Class C | 2,503,020 | |||
Class R | 265,016 | |||
Transfer and shareholder servicing agent fees: | ||||
Class A | 2,179,016 | |||
Class C | 426,706 | |||
Class I | 6,087 | |||
Class R | 90,607 | |||
Class Y | 288,473 | |||
Shareholder communications: | ||||
Class A | 27,993 | |||
Class C | 6,066 | |||
Class I | 104 | |||
Class R | 1,024 | |||
Class Y | 3,435 | |||
Custodian fees and expenses | 211,882 | |||
Trustees compensation | 53,818 | |||
Borrowing fees | 49,468 | |||
Other | 294,523 | |||
Total expenses
|
|
19,300,372
|
| |
Less reduction to custodian expenses | (76,695 | ) | ||
Less waivers and reimbursements of expenses | (875,011 | ) | ||
Net expenses
|
|
18,348,666
|
| |
Net Investment Income |
98,571,012 |
81 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENT OF
OPERATIONS Unaudited / Continued
Realized and Unrealized Gain (Loss) |
||||
Net realized gain (loss) on: | ||||
Investment transactions in unaffiliated companies(net of foreign capital gains tax of $390,407) | $ | (28,061,532 | ) | |
Option contracts written | 26,035,118 | |||
Futures contracts | (12,343,898 | ) | ||
Foreign currency transactions | 628,225 | |||
Forward currency exchange contracts | (39,521,598 | ) | ||
Swap contracts | 2,213,406 | |||
Swaption contracts written | (9,665,795 | ) | ||
Net realized gain (loss) allocated from: | ||||
Oppenheimer Master Event-Linked Bond Fund, LLC | (578,559 | ) | ||
Oppenheimer Master Loan Fund, LLC | 1,562,140 | |||
Net realized loss | (59,732,493 | ) | ||
Net change in unrealized appreciation/(depreciation) on: | ||||
Investment transactions in: | ||||
Unaffiliated companies (net of foreign capital gains tax of $42,376) |
19,893,367 | |||
Affiliated companies |
272,944 | |||
Translation of assets and liabilities denominated in foreign currencies | 1,228,410 | |||
Forward currency exchange contracts | 17,353,151 | |||
Futures contracts | (1,972,606 | ) | ||
Option contracts written | 11,950,544 | |||
Swap contracts | 7,902,615 | |||
Unfunded loan commitments | 2,498 | |||
Swaption contracts written | (4,425,374 | ) | ||
Net change in unrealized appreciation/(depreciation) allocated from: | ||||
Oppenheimer Master Event-Linked Bond Fund, LLC | (3,336,706 | ) | ||
Oppenheimer Master Loan Fund, LLC | (16,799,964 | ) | ||
Net change in unrealized appreciation/(depreciation)
|
|
32,068,879
|
| |
Net Increase in Net Assets Resulting from Operations |
$ |
70,907,398 |
| |
|
|
|
1. The Fund invests in certain affiliated mutual funds that expect to be treated as partnerships for tax purposes. See Note 4 of the accompanying Consolidated Notes.
See accompanying Notes to Consolidated Financial Statements.
82 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED STATEMENTS OF CHANGES IN NET ASSETS
Six Months Ended | Year Ended | |||||||
March 31, 2019 | September 30, | |||||||
(Unaudited) | 20181 | |||||||
Operations |
||||||||
Net investment income | $ | 98,571,012 | $ | 195,712,532 | ||||
Net realized loss | (59,732,493 | ) | (66,649,729 | ) | ||||
Net change in unrealized appreciation/(depreciation) | 32,068,879 | (183,248,754 | ) | |||||
|
|
| ||||||
Net increase (decrease) in net assets resulting from operations
|
|
70,907,398
|
|
|
(54,185,951
|
)
| ||
Dividends and/or Distributions to Shareholders |
||||||||
Dividends and distributions declared: | ||||||||
Class A | (72,598,047 | ) | (138,286,611 | ) | ||||
Class B2 | | (206,061 | ) | |||||
Class C | (12,307,758 | ) | (24,713,582 | ) | ||||
Class I | (1,227,831 | ) | (2,325,655 | ) | ||||
Class R | (2,881,093 | ) | (5,305,616 | ) | ||||
Class Y | (10,003,567 | ) | (22,346,153 | ) | ||||
|
|
| ||||||
Total dividends and distributions declared
|
|
(99,018,296
|
)
|
|
(193,183,678
|
)
| ||
Beneficial Interest Transactions |
||||||||
Net increase (decrease) in net assets resulting from beneficial interest transactions: | ||||||||
Class A | (142,726,333 | ) | (251,385,480 | ) | ||||
Class B2 | | (15,557,890 | ) | |||||
Class C | (49,613,834 | ) | (119,417,713 | ) | ||||
Class I | 995,766 | (3,188,283 | ) | |||||
Class R | (5,036,956 | ) | (4,958,722 | ) | ||||
Class Y | (32,453,909 | ) | (96,067,367 | ) | ||||
|
|
| ||||||
Total beneficial interest transactions
|
|
(228,835,266
|
)
|
|
(490,575,455
|
)
| ||
Net Assets | ||||||||
Total decrease | (256,946,164 | ) | (737,945,084 | ) | ||||
Beginning of period | 3,764,864,162 | 4,502,809,246 | ||||||
|
|
| ||||||
End of period | $ | 3,507,917,998 | $ | 3,764,864,162 | ||||
|
|
|
1. Prior period amounts have been conformed to current year presentation. See Notes to Consolidated Financial Statements, Note 2 New Accounting Pronouncements for further details.
2. Effective June 1, 2018, all Class B shares converted to Class A shares.
See accompanying Notes to Consolidated Financial Statements.
83 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED FINANCIAL HIGHLIGHTS
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
March 31, | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | |||||||||||||||||||
Class A | 2019 | September | September | September | September | September | ||||||||||||||||||
(Unaudited) | 30, 2018 | 30, 2017 | 30, 2016 | 30, 2015 | 30, 2014 | |||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period | $3.73 | $3.96 | $3.95 | $3.87 | $4.13 | $4.13 | ||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income1 | 0.10 | 0.18 | 0.16 | 0.15 | 0.18 | 0.19 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.01) | (0.23) | 0.01 | 0.08 | (0.26) | 0.002 | ||||||||||||||||||
|
|
| ||||||||||||||||||||||
Total from investment operations | 0.09 | (0.05) | 0.17 | 0.23 | (0.08) | 0.19 | ||||||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||||||
Dividends from net investment income | (0.11) | (0.18) | (0.11) | (0.14) | (0.17) | (0.14) | ||||||||||||||||||
Tax return of capital distribution | 0.00 | 0.00 | (0.05) | (0.01) | (0.01) | (0.05) | ||||||||||||||||||
|
|
| ||||||||||||||||||||||
Total dividends and/or distributions to shareholders | (0.11) | (0.18) | (0.16) | (0.15) | (0.18) | (0.19) | ||||||||||||||||||
Net asset value, end of period | $3.71 | $3.73 | $3.96 | $3.95 | $3.87 | $4.13 | ||||||||||||||||||
|
|
| ||||||||||||||||||||||
Total Return, at Net Asset Value3 | 2.58% | (1.49)% | 4.45% | 6.07% | (2.06)% | 4.62% | ||||||||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) | $2,537,422 | $2,699,688 | $3,124,887 | $3,607,387 | $4,008,783 | $4,774,652 | ||||||||||||||||||
Average net assets (in thousands) | $2,569,906 | $2,920,657 | $3,321,318 | $3,745,267 | $4,432,764 | $5,171,641 | ||||||||||||||||||
Ratios to average net assets:4,5 | ||||||||||||||||||||||||
Net investment income | 5.64% | 4.79% | 4.13% | 3.87% | 4.43% | 4.53% | ||||||||||||||||||
Expenses excluding specific expenses listed below | 1.05% | 1.07% | 1.08% | 1.06% | 1.05% | 1.00% | ||||||||||||||||||
Interest and fees from borrowings | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00% | ||||||||||||||||||
|
|
| ||||||||||||||||||||||
Total expenses7 | 1.05% | 1.07% | 1.08% | 1.06% | 1.05% | 1.00% | ||||||||||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.00% | 1.00% | 1.01% | 1.02% | 1.00% | 0.97% | ||||||||||||||||||
Portfolio turnover rate8 | 36% | 67% | 69% | 78% | 79% | 93% |
84 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
1. Per share amounts calculated based on the average shares outstanding during the period.
2. Less than $0.005 per share.
3. Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
4. Annualized for periods less than one full year.
5. Includes the Funds share of the allocated expenses and/or net investment income from the master funds.
6. Less than 0.005%.
7. Total expenses including indirect expenses from affiliated fund fees and expenses were as follows:
Six Months Ended March 31, 2019 | 1.06% | |||
Year Ended September 30, 2018 | 1.08% | |||
Year Ended September 30, 2017 | 1.09% | |||
Year Ended September 30, 2016 | 1.07% | |||
Year Ended September 30, 2015 | 1.06% | |||
Year Ended September 30, 2014 | 1.01% |
8. The portfolio turnover rate excludes purchase and sale transactions of To Be Announced (TBA) mortgage-related securities as follows:
Purchase Transactions | Sale Transactions | |||||||
Six Months Ended March 31, 2019 |
$3,007,915,960 | $3,024,999,238 | ||||||
Year Ended September 30, 2018 |
$6,366,360,171 | $6,415,700,475 | ||||||
Year Ended September 30, 2017 |
$5,559,676,349 | $5,415,035,851 | ||||||
Year Ended September 30, 2016 |
$4,468,857,111 | $4,304,402,600 | ||||||
Year Ended September 30, 2015 |
$4,009,637,043 | $4,100,638,359 | ||||||
Year Ended September 30, 2014 |
$3,978,597,684 | $4,262,483,862 |
See accompanying Notes to Consolidated Financial Statements.
85 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED FINANCIAL HIGHLIGHTS Continued
Class C | Six Months Ended March 31, 2019 (Unaudited) |
Year Ended September 30, 2018 |
Year Ended September 30, 2017 |
Year Ended September 30, 2016 |
Year Ended September 30, 2015 |
Year Ended September 30, 2014 | ||||||
Per Share Operating Data | ||||||||||||
Net asset value, beginning of period | $3.72 | $3.95 | $3.94 | $3.87 | $4.12 | $4.12 | ||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income1 | 0.09 | 0.16 | 0.13 | 0.12 | 0.15 | 0.16 | ||||||
Net realized and unrealized gain (loss) | (0.02) | (0.24) | 0.01 | 0.07 | (0.25) | 0.002 | ||||||
| ||||||||||||
Total from investment operations | 0.07 | (0.08) | 0.14 | 0.19 | (0.10) | 0.16 | ||||||
Dividends and/or distributions to shareholders: | ||||||||||||
Dividends from net investment income | (0.09) | (0.15) | (0.09) | (0.11) | (0.14) | (0.12) | ||||||
Tax return of capital distribution | 0.00 | 0.00 | (0.04) | (0.01) | (0.01) | (0.04) | ||||||
| ||||||||||||
Total dividends and/or distributions to shareholders | (0.09) | (0.15) | (0.13) | (0.12) | (0.15) | (0.16) | ||||||
Net asset value, end of period | $3.70 | $3.72 | $3.95 | $3.94 | $3.87 | $4.12 | ||||||
| ||||||||||||
Total Return, at Net Asset Value3 | 2.20% | (2.26)% | 3.67% | 5.01% | (2.56)% | 3.84% | ||||||
|
||||||||||||
Ratios/Supplemental Data | ||||||||||||
Net assets, end of period (in thousands) | $486,665 | $540,465 | $696,936 | $850,319 | $977,069 | $1,156,140 | ||||||
Average net assets (in thousands) | $503,083 | $623,092 | $769,686 | $897,334 | $1,087,495 | $1,236,681 | ||||||
Ratios to average net assets:4,5 | ||||||||||||
Net investment income | 4.88% | 4.03% | 3.37% | 3.12% | 3.67% | 3.78% | ||||||
Expenses excluding specific expenses listed below | 1.81% | 1.83% | 1.84% | 1.81% | 1.80% | 1.76% | ||||||
Interest and fees from borrowings | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00% | ||||||
| ||||||||||||
Total expenses7 | 1.81% | 1.83% | 1.84% | 1.81% | 1.80% | 1.76% | ||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.76% | 1.76% | 1.77% | 1.77% | 1.76% | 1.73% | ||||||
Portfolio turnover rate8 | 36% | 67% | 69% | 78% | 79% | 93% |
86 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
1. Per share amounts calculated based on the average shares outstanding during the period.
2. Less than $0.005 per share.
3. Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
4. Annualized for periods less than one full year.
5. Includes the Funds share of the allocated expenses and/or net investment income from the master funds.
6. Less than 0.005%.
7. Total expenses including indirect expenses from affiliated fund fees and expenses were as follows:
Six Months Ended March 31, 2019 | 1.82% | |||
Year Ended September 30, 2018 | 1.84% | |||
Year Ended September 30, 2017 | 1.85% | |||
Year Ended September 30, 2016 | 1.82% | |||
Year Ended September 30, 2015 | 1.81% | |||
Year Ended September 30, 2014 | 1.77% |
8. The portfolio turnover rate excludes purchase and sale transactions of To Be Announced (TBA) mortgage-related securities as follows:
Purchase Transactions | Sale Transactions | |||||||
Six Months Ended March 31, 2019 |
$3,007,915,960 | $3,024,999,238 | ||||||
Year Ended September 30, 2018 |
$6,366,360,171 | $6,415,700,475 | ||||||
Year Ended September 30, 2017 |
$5,559,676,349 | $5,415,035,851 | ||||||
Year Ended September 30, 2016 |
$4,468,857,111 | $4,304,402,600 | ||||||
Year Ended September 30, 2015 |
$4,009,637,043 | $4,100,638,359 | ||||||
Year Ended September 30, 2014 |
$3,978,597,684 | $4,262,483,862 |
See accompanying Notes to Consolidated Financial Statements.
87 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED FINANCIAL HIGHLIGHTS Continued
Class I | Six Months Ended March 31, 2019 (Unaudited) |
Year Ended September 30, 2018 |
Year Ended September 30, 2017 |
Year Ended September 30, 2016 |
Year Ended September 30, 2015 |
Year Ended September 30, 2014 | ||||||
Per Share Operating Data | ||||||||||||
Net asset value, beginning of period | $3.71 | $3.94 | $3.93 | $3.86 | $4.11 | $4.11 | ||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income1 | 0.11 | 0.20 | 0.18 | 0.16 | 0.20 | 0.20 | ||||||
Net realized and unrealized gain (loss) | (0.02) | (0.23) | 0.01 | 0.07 | (0.25) | 0.002 | ||||||
| ||||||||||||
Total from investment operations | 0.09 | (0.03) | 0.19 | 0.23 | (0.05) | 0.20 | ||||||
Dividends and/or distributions to shareholders: | ||||||||||||
Dividends from net investment income | (0.11) | (0.20) | (0.12) | (0.15) | (0.19) | (0.15) | ||||||
Tax return of capital distribution | 0.00 | 0.00 | (0.06) | (0.01) | (0.01) | (0.05) | ||||||
| ||||||||||||
Total dividends and/or distributions to shareholders | (0.11) | (0.20) | (0.18) | (0.16) | (0.20) | (0.20) | ||||||
Net asset value, end of period | $3.69 | $3.71 | $3.94 | $3.93 | $3.86 | $4.11 | ||||||
| ||||||||||||
Total Return, at Net Asset Value3 | 2.78% | (1.15)% | 4.89% | 6.27% | (1.41)% | 5.05% | ||||||
Ratios/Supplemental Data | ||||||||||||
Net assets, end of period (in thousands) | $42,191 | $41,461 | $47,348 | $45,840 | $48,488 | $119,074 | ||||||
Average net assets (in thousands) | $40,708 | $45,391 | $45,371 | $46,967 | $121,467 | $109,381 | ||||||
Ratios to average net assets:4,5 | ||||||||||||
Net investment income | 6.02% | 5.18% | 4.57% | 4.30% | 4.87% | 4.93% | ||||||
Expenses excluding specific expenses listed below | 0.67% | 0.68% | 0.65% | 0.62% | 0.60% | 0.59% | ||||||
Interest and fees from borrowings | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00% | ||||||
| ||||||||||||
Total expenses7 | 0.67% | 0.68% | 0.65% | 0.62% | 0.60% | 0.59% | ||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 0.62% | 0.61% | 0.59% | 0.58% | 0.57% | 0.56% | ||||||
Portfolio turnover rate8 | 36% | 67% | 69% | 78% | 79% | 93% |
88 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
1. Per share amounts calculated based on the average shares outstanding during the period.
2. Less than $0.005 per share.
3. Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
4. Annualized for periods less than one full year.
5. Includes the Funds share of the allocated expenses and/or net investment income from the master funds.
6. Less than 0.005%.
7. Total expenses including indirect expenses from affiliated fund fees and expenses were as follows:
Six Months Ended March 31, 2019 | 0.68% | |||
Year Ended September 30, 2018 | 0.69% | |||
Year Ended September 30, 2017 | 0.66% | |||
Year Ended September 30, 2016 | 0.63% | |||
Year Ended September 30, 2015 | 0.61% | |||
Year Ended September 30, 2014 | 0.60% |
8. The portfolio turnover rate excludes purchase and sale transactions of To Be Announced (TBA) mortgage-related securities as follows:
Purchase Transactions | Sale Transactions | |||||||
Six Months Ended March 31, 2019 |
$3,007,915,960 | $3,024,999,238 | ||||||
Year Ended September 30, 2018 |
$6,366,360,171 | $6,415,700,475 | ||||||
Year Ended September 30, 2017 |
$5,559,676,349 | $5,415,035,851 | ||||||
Year Ended September 30, 2016 |
$4,468,857,111 | $4,304,402,600 | ||||||
Year Ended September 30, 2015 |
$4,009,637,043 | $4,100,638,359 | ||||||
Year Ended September 30, 2014 |
$3,978,597,684 | $4,262,483,862 |
See accompanying Notes to Consolidated Financial Statements.
89 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED FINANCIAL HIGHLIGHTS Continued
Class R | Six Months 2019 |
Year Ended September 30, 2018 |
Year Ended September 30, 2017 |
Year Ended September 30, 2016 |
Year Ended September 30, 2015 |
Year Ended 30, 2014 | ||||||
Per Share Operating Data | ||||||||||||
Net asset value, beginning of period | $3.73 | $3.96 | $3.95 | $3.88 | $4.13 | $4.13 | ||||||
Income (loss) from investment operations: | ||||||||||||
Net investment income1 | 0.10 | 0.17 | 0.15 | 0.14 | 0.17 | 0.18 | ||||||
Net realized and unrealized gain (loss) | (0.02) | (0.23) | 0.01 | 0.07 | (0.25) | 0.002 | ||||||
| ||||||||||||
Total from investment operations | 0.08 | (0.06) | 0.16 | 0.21 | (0.08) | 0.18 | ||||||
Dividends and/or distributions to shareholders: | ||||||||||||
Dividends from net investment income | (0.10) | (0.17) | (0.10) | (0.13) | (0.16) | (0.14) | ||||||
Tax return of capital distribution | 0.00 | 0.00 | (0.05) | (0.01) | (0.01) | (0.04) | ||||||
| ||||||||||||
Total dividends and/or distributions to shareholders | (0.10) | (0.17) | (0.15) | (0.14) | (0.17) | (0.18) | ||||||
Net asset value, end of period | $3.71 | $3.73 | $3.96 | $3.95 | $3.88 | $4.13 | ||||||
| ||||||||||||
Total Return, at Net Asset Value3 | 2.45% | (1.75)% | 4.19% | 5.53% | (2.06)% | 4.31% | ||||||
Ratios/Supplemental Data | ||||||||||||
Net assets, end of period (in thousands) | $105,992 | $111,816 | $123,825 | $149,098 | $162,623 | $185,991 | ||||||
Average net assets (in thousands) | $106,872 | $118,510 | $134,309 | $152,830 | $175,389 | $196,503 | ||||||
Ratios to average net assets:4,5 | ||||||||||||
Net investment income | 5.38% | 4.53% | 3.87% | 3.61% | 4.17% | 4.24% | ||||||
Expenses excluding specific expenses listed below | 1.31% | 1.33% | 1.34% | 1.31% | 1.30% | 1.30% | ||||||
Interest and fees from borrowings | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00%6 | 0.00% | ||||||
| ||||||||||||
Total expenses7 | 1.31% | 1.33% | 1.34% | 1.31% | 1.30% | 1.30% | ||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.26% | 1.26% | 1.27% | 1.27% | 1.26% | 1.27% | ||||||
Portfolio turnover rate8 | 36% | 67% | 69% | 78% | 79% | 93% |
90 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
1. Per share amounts calculated based on the average shares outstanding during the period.
2. Less than $0.005 per share.
3. Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
4. Annualized for periods less than one full year.
5. Includes the Funds share of the allocated expenses and/or net investment income from the master funds.
6. Less than 0.005%.
7. Total expenses including indirect expenses from affiliated fund fees and expenses were as follows:
Six Months Ended March 31, 2019 | 1.32% | |||
Year Ended September 30, 2018 | 1.34% | |||
Year Ended September 30, 2017 | 1.35% | |||
Year Ended September 30, 2016 | 1.32% | |||
Year Ended September 30, 2015 | 1.31% | |||
Year Ended September 30, 2014 | 1.31% |
8. The portfolio turnover rate excludes purchase and sale transactions of To Be Announced (TBA) mortgage-related securities as follows:
Purchase Transactions | Sale Transactions | |||||||
|
||||||||
Six Months Ended March 31, 2019 |
$3,007,915,960 | $3,024,999,238 | ||||||
Year Ended September 30, 2018 |
$6,366,360,171 | $6,415,700,475 | ||||||
Year Ended September 30, 2017 |
$5,559,676,349 | $5,415,035,851 | ||||||
Year Ended September 30, 2016 |
$4,468,857,111 | $4,304,402,600 | ||||||
Year Ended September 30, 2015 |
$4,009,637,043 | $4,100,638,359 | ||||||
Year Ended September 30, 2014 |
$3,978,597,684 | $4,262,483,862 |
See accompanying Notes to Consolidated Financial Statements.
91 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
CONSOLIDATED FINANCIAL HIGHLIGHTS Continued
Class Y | Six Months Ended March 31, 2019 (Unaudited) |
Year Ended September 30, 2018 |
Year Ended September 30, 2017 |
Year Ended September 30, 2016 |
Year Ended September 30, 2015 |
Year Ended September 30, 2014 |
||||||||||||||||||
Per Share Operating Data |
||||||||||||||||||||||||
Net asset value, beginning of period | $3.73 | $3.96 | $3.95 | $3.87 | $4.13 | $4.12 | ||||||||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income1 | 0.11 | 0.19 | 0.17 | 0.16 | 0.19 | 0.20 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (0.03) | (0.23) | 0.01 | 0.08 | (0.26) | 0.01 | ||||||||||||||||||
Total from investment operations | 0.08 | (0.04) | 0.18 | 0.24 | (0.07) | 0.21 | ||||||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||||||
Dividends from net investment income | (0.11) | (0.19) | (0.11) | (0.15) | (0.18) | (0.15) | ||||||||||||||||||
Tax return of capital distribution | 0.00 | 0.00 | (0.06) | (0.01) | (0.01) | (0.05) | ||||||||||||||||||
Total dividends and/or distributions to shareholders | (0.11) | (0.19) | (0.17) | (0.16) | (0.19) | (0.20) | ||||||||||||||||||
Net asset value, end of period | $3.70 | $3.73 | $3.96 | $3.95 | $3.87 | $4.13 | ||||||||||||||||||
Total Return, at Net Asset Value2 | 2.71 | % | (1.26 | )% | 4.70 | % | 6.33 | % | (1.83 | )% | 5.13 | % | ||||||||||||
Ratios/Supplemental Data |
||||||||||||||||||||||||
Net assets, end of period (in thousands) | $335,648 | $371,434 | $494,017 | $369,088 | $403,252 | $558,288 | ||||||||||||||||||
Average net assets (in thousands) | $339,993 | $450,170 | $417,814 | $372,918 | $453,869 | $533,576 | ||||||||||||||||||
Ratios to average net assets:3,4 | ||||||||||||||||||||||||
Net investment income | 5.88% | 5.03% | 4.43% | 4.11% | 4.68% | 4.78% | ||||||||||||||||||
Expenses excluding specific expenses listed below | 0.81% | 0.83% | 0.84% | 0.81% | 0.80% | 0.76% | ||||||||||||||||||
Interest and fees from borrowings | 0.00%5 | 0.00%5 | 0.00%5 | 0.00%5 | 0.00%5 | 0.00% | ||||||||||||||||||
Total expenses6 | 0.81% | 0.83% | 0.84% | 0.81% | 0.80% | 0.76% | ||||||||||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 0.76% | 0.76% | 0.77% | 0.77% | 0.76% | 0.73% | ||||||||||||||||||
Portfolio turnover rate7 | 36% | 67% | 69% | 78% | 79% | 93% |
92 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
1. Per share amounts calculated based on the average shares outstanding during the period.
2. Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
3. Annualized for periods less than one full year.
4. Includes the Funds share of the allocated expenses and/or net investment income from the master funds.
5. Less than 0.005%.
6. Total expenses including indirect expenses from affiliated fund fees and expenses were as follows:
Six Months Ended March 31, 2019 | 0.82% | |||
Year Ended September 30, 2018 | 0.84% | |||
Year Ended September 30, 2017 | 0.85% | |||
Year Ended September 30, 2016 | 0.82% | |||
Year Ended September 30, 2015 | 0.81% | |||
Year Ended September 30, 2014 | 0.77% |
7. The portfolio turnover rate excludes purchase and sale transactions of To Be Announced (TBA) mortgage-related securities as follows:
Purchase Transactions | Sale Transactions | |||||||
|
||||||||
Six Months Ended March 31, 2019 |
$3,007,915,960 | $3,024,999,238 | ||||||
Year Ended September 30, 2018 |
$6,366,360,171 | $6,415,700,475 | ||||||
Year Ended September 30, 2017 |
$5,559,676,349 | $5,415,035,851 | ||||||
Year Ended September 30, 2016 |
$4,468,857,111 | $4,304,402,600 | ||||||
Year Ended September 30, 2015 |
$4,009,637,043 | $4,100,638,359 | ||||||
Year Ended September 30, 2014 |
$3,978,597,684 | $4,262,483,862 |
See accompanying Notes to Consolidated Financial Statements.
93 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS March 31, 2019 Unaudited
1. Organization
Oppenheimer Global Strategic Income Fund (the Fund) is a diversified open-end management investment company registered under the Investment Company Act of 1940 (1940 Act), as amended. The Funds investment objective is to seek total return. The Funds 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.
The Fund offers Class A, Class C, Class I, Class R and Class Y shares, and previously offered Class B shares for new purchase through June 29, 2012. Subsequent to that date, no new purchases of Class B shares were permitted. Reinvestment of dividend and/or capital gain distributions and exchanges of Class B shares into and from other Oppenheimer funds were permitted through May 31, 2018. Effective June 1, 2018 (the Conversion Date), all Class B shares converted to Class A shares. Class A shares are sold at their offering price, which is normally net asset value plus a front-end sales charge. Class C and Class R shares are sold, and Class B shares were sold, without a front-end sales charge but may be subject to a contingent deferred sales charge (CDSC). Class R shares are sold only through retirement plans. Retirement plans that offer Class R shares may impose charges on those accounts. Class I and Class Y shares are sold to certain institutional investors or intermediaries without either a front-end sales charge or a CDSC, however, the intermediaries may impose charges on their accountholders who beneficially own Class I and Class Y shares. All classes of shares have identical rights and voting privileges with respect to the Fund in general and exclusive voting rights on matters that affect that class alone. Earnings, net assets and net asset value per share may differ due to each class having its own expenses, such as transfer and shareholder servicing agent fees and shareholder communications, directly attributable to that class. Class A, C and R shares have, and Class B shares had, separate distribution and/or service plans under which they pay, and Class B shares paid, fees. Class I and Class Y shares do not pay such fees. Previously issued Class B shares automatically converted to Class A shares 72 months after the date of purchase.
The following is a summary of significant accounting policies followed in the Funds preparation of financial statements in accordance with accounting principles generally accepted in the United States (U.S. GAAP).
2. Significant Accounting Policies
Security Valuation. All investments in securities are recorded at their estimated fair value, as described in Note 3.
Basis for Consolidation. The Fund has established a Cayman Islands exempted company, Oppenheimer Global Strategic Income Fund (Cayman) Ltd. (the Subsidiary), which is wholly-owned and controlled by the Fund. The Fund and Subsidiary are both managed by the Manager. The Fund may invest up to 25% of its total assets in the Subsidiary. The Subsidiary invests primarily in Regulation S securities. Regulation S securities are securities of U.S. and non-U.S. issuers that are issued through private offerings without registration with the
94 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
2. Significant Accounting Policies (Continued)
Securities and Exchange Commission pursuant to Regulation S under the Securities Act of 1933. The Fund applies its investment restrictions and compliance policies and procedures, on a look-through basis, to the Subsidiary.
The financial statements have been consolidated and include accounts of the Fund and the Subsidiary. Accordingly, all inter-company transactions and balances have been eliminated. At period end, the Fund owned 193,468 shares with net assets of $15,970,060 in the Subsidiary.
Other financial information at period end:
Total market value of investments* | $ | | ||
Net assets | $ | 15,970,060 | ||
Net income (loss) | $ | 212,640 | ||
Net realized gain (loss) | $ | (606,092) | ||
Net change in unrealized appreciation/depreciation | $ | 97,337 |
*At period end, the Subsidiary only held cash.
Foreign Currency Translation. The books and records of the Fund are maintained in U.S. dollars. Any foreign currency amounts are translated into U.S. dollars on the following basis:
(1) Value of investment securities, other assets and liabilities at the exchange rates prevailing at market close as described in Note 3.
(2) Purchases and sales of investment securities, income and expenses at the rates of exchange prevailing on the respective dates of such transactions.
Although the net assets and the values are presented at the foreign exchange rates at market close, the Fund does not isolate the portion of the results of operations resulting from changes in foreign exchange rates on investments from the fluctuations arising from changes in prices of securities held. Such fluctuations are included with the net realized and unrealized gains or losses from investments shown in the Consolidated Statement of Operations.
For securities, which are subject to foreign withholding tax upon disposition, realized and unrealized gains or losses on such securities are recorded net of foreign withholding tax.
Reported net realized foreign exchange gains or losses arise from sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on securities transactions, the difference between the amounts of dividends, interest, and foreign withholding tax reclaims recorded on the Funds 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 value of assets and liabilities other than investments in securities, resulting from changes in the exchange rate.
Allocation of Income, Expenses, Gains and Losses. Income, expenses (other than those attributable to a specific class), gains and losses are allocated on a daily basis to each class of shares based upon the relative proportion of net assets represented by such class. Operating expenses directly attributable to a specific class are charged against the operations of that class.
95 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
2. Significant Accounting Policies (Continued)
Dividends and Distributions to Shareholders. Dividends and distributions to shareholders, which are determined in accordance with income tax regulations and may differ from U.S. GAAP, are recorded on the ex-dividend date. Income distributions, if any, are declared daily and paid monthly. Capital gain distributions, if any, are declared and paid annually or at other times as determined necessary by the Manager.
The tax character of distributions is determined as of the Funds fiscal year end. Therefore, a portion of the Funds distributions made to shareholders prior to the Funds fiscal year end may ultimately be categorized as a tax return of capital.
Investment Income. Dividend income is recorded on the ex-dividend date or upon ex-dividend notification in the case of certain foreign dividends where the ex-dividend date may have passed. Non-cash dividends included in dividend income, if any, are recorded at the fair value of the securities received. Withholding taxes on foreign dividends, if any, and capital gains taxes on foreign investments, if any, have been provided for in accordance with the Funds understanding of the applicable tax rules and regulations. Interest income, if any, is recognized on an accrual basis. Discount and premium, which are included in interest income on the Consolidated Statement of Operations, are amortized or accreted daily.
Custodian Fees. Custodian fees and expenses in the Consolidated Statement of Operations may include interest expense incurred by the Fund on any cash overdrafts of its custodian account during the period. Such cash overdrafts may result from the effects of failed trades in portfolio securities and from cash outflows resulting from unanticipated shareholder redemption activity. The Fund pays interest to its custodian on such cash overdrafts, to the extent they are not offset by positive cash balances maintained by the Fund, at a rate equal to the Federal Funds Rate plus 2.00%. The Reduction to custodian expenses line item, if applicable, represents earnings on cash balances maintained by the Fund during the period. Such interest expense and other custodian fees may be paid with these earnings.
Security Transactions. Security transactions are recorded on the trade date. Realized gains and losses on securities sold are determined on the basis of identified cost.
Indemnifications. The Funds organizational documents provide current and former Trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the Fund. In the normal course of business, the Fund may also enter into contracts that provide general indemnifications. The Funds maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.
Federal Taxes. The Fund intends to comply with provisions of the Internal Revenue Code applicable to regulated investment companies and to distribute substantially all of its investment company taxable income to shareholders. Therefore, no federal income or excise tax provision is required. The Fund files income tax returns in U.S. federal and applicable state
96 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
2. Significant Accounting Policies (Continued)
jurisdictions. The statute of limitations on the Funds tax return filings generally remains open for the three preceding fiscal reporting period ends. The Fund has analyzed its tax positions for the fiscal year ended September 30, 2018, including open tax years, and does not believe there are any uncertain tax positions requiring recognition in the Funds financial statements.
Subchapter M requires, among other things, that at least 90% of the Funds gross income be derived from securities or derived with respect to its business of investing in securities (typically referred to as qualifying income). Income from commodity-linked derivatives may not be treated as qualifying income for purposes of the 90% gross income requirement. The Internal Revenue Service (IRS) has previously issued a number of private letter rulings which conclude that income derived from commodity index-linked notes and investments in a wholly-owned subsidiary will be qualifying income. As a result, the Fund will gain exposure to commodities through commodity-linked notes and its wholly-owned subsidiary.
The IRS has suspended the granting of private letter rulings pending further review. As a result, there can be no assurance that the IRS will not change its position with respect to commodity-linked notes and wholly-owned subsidiaries. In addition, future legislation and guidance from the Treasury and the IRS may adversely affect the funds ability to gain exposure to commodities through commodity-linked notes and its wholly-owned subsidiary.
The Fund is required to include in income for federal income tax purposes all of the subsidiarys net income and gains whether or not such income is distributed by the subsidiary. Net income and gains from the subsidiary are generally treated as ordinary income by the Fund, regardless of the character of the subsidiarys underlying income. Net losses from the subsidiary do not pass through to the Fund for federal income tax purposes.
During the fiscal year ended September 30, 2018, the Fund did not utilize any capital loss carryforwards to offset capital gains realized in that fiscal year. The Fund had post-October foreign currency losses of $50,679,172 which were deferred. Capital loss carryforwards with no expiration, if any, must be utilized prior to those with expiration dates. Capital losses with no expiration will be carried forward to future years if not offset by gains.
At period end, it is estimated that the capital loss carryforwards would be $777,746,787, which will not expire. The estimated capital loss carryforward represents the carryforward as of the end of the last fiscal year, increased or decreased by capital losses or gains realized in the first six months of the current fiscal year. During the reporting period, it is estimated that the Fund will not utilize any capital loss carryforward to offset realized capital gains.
Net investment income (loss) and net realized gain (loss) may differ for financial statement and tax purposes. The character of dividends and distributions made during the fiscal year from net investment income or net realized gains are determined in accordance with federal income tax requirements, which may differ from the character of net investment income or net realized gains presented in those financial statements in accordance with U.S. GAAP. Also, due to timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which the income or net realized gain was recorded by the Fund.
The aggregate cost of securities and other investments and the composition of unrealized appreciation and depreciation of securities and other investments for federal income tax
97 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
2. Significant Accounting Policies (Continued)
purposes at period end are noted in the following table. 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 or tax realization of financial statement unrealized gain or loss.
Federal tax cost of securities | $ | 3,979,072,694 | ||
Federal tax cost of other investments | (439,631,744 | ) | ||
|
|
| ||
Total federal tax cost | $ | 3,539,440,950 | ||
|
|
| ||
Gross unrealized appreciation | $ | 135,027,956 | ||
Gross unrealized depreciation | (273,430,274 | ) | ||
|
|
| ||
Net unrealized depreciation | $ | (138,402,318 | ) | |
|
|
|
Certain foreign countries impose a tax on capital gains which is accrued by the Fund based on unrealized appreciation, if any, on affected securities. The tax is paid when the gain is realized.
Use of Estimates. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
New Accounting Pronouncements. In March 2017, Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU), ASU 2017-08. This provides guidance related to the amortization period for certain purchased callable debt securities held at a premium. The ASU is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. The Manager has evaluated the impacts of these changes on the financial statements and there are no material impacts.
During August 2018, the Securities and Exchange Commission (the SEC) issued Final Rule Release No. 33-10532 (the Rule), Disclosure Update and Simplification. The rule amends certain financial statement disclosure requirements to conform to U.S. GAAP. The amendments to Rule 6-04.17 of Regulation S-X (balance sheet) remove the requirement to separately state the book basis components of net assets: undistributed (over-distribution of) net investment income (UNII), accumulated undistributed net realized gains (losses), and net unrealized appreciation (depreciation) at the balance sheet date. Instead, consistent with U.S. GAAP, funds will be required to disclose total distributable earnings. The amendments to Rule 6-09 of Regulation S-X (statement of changes in net assets) remove the requirement to separately state the sources of distributions paid. Instead, consistent with U.S. GAAP, funds will be required to disclose the total amount of distributions paid, except that any tax return of capital must be separately disclosed. The amendments also remove the requirement to parenthetically state the book basis amount of UNII on the statement of changes in net assets. The requirements of the Rule were effective November 5, 2018, and the Funds Statement of Assets and Liabilities and Statement of Changes in Net Assets for the current reporting period
98 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
2. Significant Accounting Policies (Continued)
have been modified accordingly. In addition, certain amounts within the Funds Statement of Changes in Net Assets for the prior fiscal period have been modified to conform to the Rule.
3. Securities Valuation
The Fund calculates the net asset value of its shares as of 4:00 P.M. Eastern Time, on each day the New York Stock Exchange (the Exchange or NYSE) is open for trading, except in the case of a scheduled early closing of the Exchange, in which case the Fund will calculate net asset value of the shares as of the scheduled early closing time of the Exchange.
The Funds Board has adopted procedures for the valuation of the Funds 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 Committees fair valuation determinations are subject to review, approval and ratification by the Funds Board at least quarterly or more frequently, if necessary.
Valuation Methods and Inputs
Securities are valued primarily using unadjusted quoted market prices, when available, as supplied by third party pricing services or broker-dealers.
The following methodologies are used to determine the market value or the fair value of the types of securities described below:
Equity securities traded on a securities exchange (including exchange-traded derivatives other than futures and futures options) are valued based on the official closing price on the principal exchange on which the security is traded, as identified by the Manager, prior to the time when the Funds assets are valued. If the official closing price is unavailable, the security is valued at the last sale price on the principal exchange on which it is traded, or if no sales occurred, the security is valued at the mean between the quoted bid and asked prices. Over-the-counter equity securities are valued at the last published sale price, or if no sales occurred, at the mean between the quoted bid and asked prices. Events occurring after the close of trading on foreign exchanges may result in adjustments to the valuation of foreign securities to more accurately reflect their fair value as of the time when the Funds assets are valued.
Shares of a registered investment company that are not traded on an exchange are valued at that investment companys net asset value per share.
Corporate and government debt securities (of U.S. or foreign issuers) and municipal debt securities, short-term notes, 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. Pricing services generally price debt securities assuming orderly transactions of an institutional round lot size, but some trades may occur in smaller, odd lot sizes, sometimes at lower prices than institutional round lot trades. Standard inputs generally considered by third-party pricing vendors include reported
99 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
3. Securities Valuation (Continued)
trade data, broker-dealer price quotations, benchmark yields, issuer spreads on comparable securities, the credit quality, yield, maturity, as well as other appropriate factors.
Loans are valued at the mean between the bid and asked prices utilizing evaluated prices obtained from third party pricing services or broker-dealers. Standard inputs generally considered by third-party pricing vendors include information obtained from market participants regarding broker-dealer price quotations.
Structured securities, swaps, swaptions, and other over-the-counter derivatives are valued utilizing evaluated prices obtained from third party pricing services or broker-dealers. Standard inputs generally considered by third-party pricing vendors include market information relevant to the underlying reference asset such as the price of financial instruments, stock market indices, foreign currencies, interest rate spreads, commodities, credit spreads, credit event probabilities, index values, individual security values, forward interest rates, variable interest rates, volatility measures, and forward currency rates, or the occurrence of other specific events.
Forward foreign currency exchange contracts are valued utilizing current and forward currency rates obtained from third party pricing services. When the settlement date of a contract is an interim date for which a quotation is not available, interpolated values are derived using the nearest dated forward currency rate.
Futures contracts and futures options 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 Funds assets are valued.
Securities for which market quotations are not readily available, or when a significant event has occurred that would materially affect the value of the security, are 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 Funds Board or (ii) as determined in good faith by the Managers 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 security. Those standardized fair valuation 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 regularly compares prior day prices 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.
100 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
3. Securities Valuation (Continued)
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 may be used in determining the value of each of the Funds 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 Managers 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.
The Fund classifies each of its investments in investment companies which are publicly offered as Level 1. Investment companies that are not publicly offered, if any, are classified as Level 2 in the fair value hierarchy.
The table below categorizes amounts that are included in the Funds Consolidated Statement of Assets and Liabilities at period end based on valuation input level:
Level 1 Unadjusted Quoted Prices |
Level 2 |
Level 3 Significant Unobservable Inputs |
Value | |||||||||||||
Assets Table |
||||||||||||||||
Investments, at Value: | ||||||||||||||||
Asset-Backed Securities | $ | | $ 88,889,772 | $ | | $ 88,889,772 | ||||||||||
Mortgage-Backed Obligations | | 743,204,176 | 30,332 | 743,234,508 | ||||||||||||
U.S. Government Obligations | | 239,024,756 | | 239,024,756 | ||||||||||||
Foreign Government Obligations | | 819,306,262 | | 819,306,262 | ||||||||||||
Corporate Loans | | 17,901,803 | | 17,901,803 | ||||||||||||
Corporate Bonds and Notes | | 1,481,520,802 | 99,027 | 1,481,619,829 | ||||||||||||
Preferred Stocks | 28,287,479 | 25,808 | | 28,313,287 | ||||||||||||
Common Stocks | 4,934,821 | 414,450 | 72,790 | 5,422,061 | ||||||||||||
Rights, Warrants and Certificates | | | 83,328 | 83,328 | ||||||||||||
Structured Securities | | 19,448,705 | 254,956 | 19,703,661 | ||||||||||||
Short-Term Notes | | 27,271,520 | | 27,271,520 |
101 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
3. Securities Valuation (Continued)
Level 1 Unadjusted Quoted Prices |
Level 2 Other Significant Observable Inputs |
Level 3 Significant Unobservable Inputs |
Value | |||||||||||||||
Investments, at Value: (Continued) | ||||||||||||||||||
Over-the-Counter Options Purchased | $ | | $ | 35,953,039 | $ | | $ 35,953,039 | |||||||||||
Over-the-Counter Credit Default | ||||||||||||||||||
Swaptions Purchased | | 885,399 | | 885,399 | ||||||||||||||
Over-the-Counter Interest Rate | ||||||||||||||||||
Swaptions Purchased | | 5,437,904 | | 5,437,904 | ||||||||||||||
Investment Companies | 64,563,207 | 253,859,904 | | 318,423,111 | ||||||||||||||
| ||||||||||||||||||
Total Investments, at Value | 97,785,507 | 3,733,144,300 | 540,433 | 3,831,470,240 | ||||||||||||||
Other Financial Instruments: | ||||||||||||||||||
Swaps, at value | | 934,251 | | 934,251 | ||||||||||||||
Centrally cleared swaps, at value | | 9,551,154 | | 9,551,154 | ||||||||||||||
Futures contracts | 3,535,630 | | | 3,535,630 | ||||||||||||||
Forward currency exchange contracts | | 24,235,639 | | 24,235,639 | ||||||||||||||
Unfunded loan commitments | | 2,498 | | 2,498 | ||||||||||||||
| ||||||||||||||||||
Total Assets | $ | 101,321,137 | $ | 3,767,867,842 | $ | 540,433 | $ 3,869,729,412 | |||||||||||
| ||||||||||||||||||
Liabilities Table |
||||||||||||||||||
Other Financial Instruments: | ||||||||||||||||||
Swaps, at value | $ | | $ | (4,332,119 | ) | $ | | $(4,332,119) | ||||||||||
Centrally cleared swaps, at value | | (11,616,973 | ) | | (11,616,973) | |||||||||||||
Over-the-Counter Options written | | (50,946,008 | ) | | (50,946,008) | |||||||||||||
Futures contracts | (5,452,172 | ) | | | (5,452,172) | |||||||||||||
Forward currency exchange contracts | | (23,825,265 | ) | | (23,825,265) | |||||||||||||
Swaptions written, at value | | (13,840,122 | ) | | (13,840,122) | |||||||||||||
| ||||||||||||||||||
Total Liabilities | $ | (5,452,172 | ) | $ | (104,560,487 | ) | $ | | $ (110,012,659) | |||||||||
|
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 contracts value from trade date. All additional assets and liabilities included in the above table are reported at their market value at measurement date.
For the reporting period, there were no transfers between levels.
4. Investments and Risks
Risks of Foreign Investing. The Fund may invest in foreign securities which are subject to special risks. Securities traded in foreign markets may be less liquid and more volatile than those traded in U.S. markets. Foreign issuers are usually not subject to the same accounting and disclosure requirements that U.S. companies are subject to, which may make it difficult for the Fund to evaluate a foreign companys operations or financial condition. A change in the value of a foreign currency against the U.S. dollar will result in a change in the U.S. dollar value of investments denominated in that foreign currency and in the value of any income or distributions the Fund may receive on those investments. The value of foreign investments may be affected by exchange control regulations, foreign taxes, higher transaction and other
102 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
4. Investments and Risks (Continued)
costs, delays in the settlement of transactions, changes in economic or monetary policy in the United States or abroad, expropriation or nationalization of a companys assets, or other political and economic factors. In addition, due to the inter-relationship of global economies and financial markets, changes in political and economic factors in one country or region could adversely affect conditions in another country or region. Investments in foreign securities may also expose the Fund to time-zone arbitrage risk. Foreign securities may trade on weekends or other days when the Fund does not price its shares. At times, the Fund may emphasize investments in a particular country or region and may be subject to greater risks from adverse events that occur in that country or region. Foreign securities and foreign currencies held in foreign banks and securities depositories may be subject to limited or no regulatory oversight.
Investments in Affiliated Funds. The Fund is permitted to invest in other mutual funds advised by the Manager or an affiliate of the Manager (Affiliated Funds). Affiliated Funds are management investment companies registered under the 1940 Act, as amended. Unless otherwise stated, the Manager is the investment adviser of, and the Sub-Adviser provides investment and related advisory services to, the Affiliated Funds. When applicable, the Funds investments in Affiliated Funds are included in the Consolidated Statement of Investments. Shares of Affiliated Funds are valued at their net asset value per share. As a shareholder, the Fund is subject to its proportional share of the Affiliated Funds expenses, including their management fee. The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Funds investment in the Affiliated Funds.
Each of the Affiliated Funds in which the Fund invests has its own investment risks, and those risks can affect the value of the Funds investments and therefore the value of the Funds shares. To the extent that the Fund invests more of its assets in one Affiliated Fund than in another, the Fund will have greater exposure to the risks of that Affiliated Fund.
Investments in Money Market Instruments. The Fund is permitted to invest its free cash balances in money market instruments to provide liquidity or for defensive purposes. The Fund may invest in money market instruments by investing in Class E shares of Oppenheimer Institutional Government Money Market Fund (IGMMF), which is an Affiliated Fund. IGMMF is regulated as a money market fund under the 1940 Act, as amended. The Fund may also invest in money market instruments directly or in other affiliated or unaffiliated money market funds. At period end, the Fund had no holdings in IGMMF.
Investment in Oppenheimer Master Funds. The Fund is permitted to invest in entities sponsored and/or advised by the Manager or an affiliate. Certain of these entities in which the Fund invests are mutual funds registered under the 1940 Act, as amended, that expect to be treated as partnerships for tax purposes, specifically Oppenheimer Master Loan Fund, LLC (Master Loan) and Oppenheimer Master Event-Linked Bond Fund, LLC (Master Event-Linked Bond) (the Master Funds). Each Master Fund has its own investment risks, and those risks can affect the value of the Funds investments and therefore the value of the
103 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
4. Investments and Risks (Continued)
Funds shares. To the extent that the Fund invests more of its assets in one Master Fund than in another, the Fund will have greater exposure to the risks of that Master Fund.
The investment objective of Master Loan is to seek income. The investment objective of Master Event-Linked Bond is to seek total return. The Funds investments in the Master Funds are included in the Consolidated Statement of Investments. The Fund recognizes income and gain/(loss) on its investments in each Master Fund according to its allocated pro-rata share, based on its relative proportion of total outstanding Master Fund shares held, of the total net income earned and the net gain/(loss) realized on investments sold by the Master Funds. As a shareholder, the Fund is subject to its proportional share of the Master Funds expenses, including their management fee. The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Funds investment in the Master Funds. The Fund owns 19.1% of Master Loan and 19.5% of Master Event-Linked Bond at period end.
Investment in OFI Carlyle Private Credit Fund. The Fund is permitted to invest in OFI Carlyle Private Credit Fund (Carlyle Fund), a closed-end management investment company that is operated as an interval fund. OC Private Capital, LLC, a joint venture between the Sub-Adviser and Carlyle Investment Management LLC, is the investment adviser of Carlyle Fund. Carlyle Fund has its own investment risks, and those risks can affect the value of the Funds investments and therefore the value of the Funds shares. The investment objective of Carlyle Fund is to produce current income. The Fund is subject to its proportional share of Carlyle Funds expenses, including management fees and incentive fees. The Manager will waive fees and/or reimburse Fund expenses in the amount of indirect management fees paid by the Fund to Carlyle Fund, net of management fee waivers and/or reimbursements received from Carlyle Fund.
Carlyle Fund reports its net asset value per share (NAV) monthly and offers its shares monthly, at the then-current NAV. Carlyle Fund conducts quarterly repurchase offers for a limited amount of its shares; the Fund does not have the right to redeem its shares of Carlyle Fund daily or at will. The Funds investment in Carlyle Fund may expose the Fund to liquidity risk, meaning that the Fund could be adversely affected by its inability to dispose of its investment in Carlyle Fund at a fair price or advantageous time, and/or may be less able to take advantage of other market opportunities due to its position in Carlyle Fund.
Structured Securities. The Fund invests in structured securities whose market values, interest rates and/or redemption prices are linked to the performance of underlying foreign currencies, interest rate spreads, stock market indices, prices of individual securities, commodities or other financial instruments or the occurrence of other specific events. The structured securities are often leveraged, increasing the volatility of each notes market value relative to the change in the underlying linked financial element or event. Fluctuations in value of these securities are recorded as unrealized gains and losses in the accompanying Consolidated Statement of Operations. The Fund records a realized gain or loss when a structured security is sold or matures.
104 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
4. Investments and Risks (Continued)
Loans. The Fund invests in loans made to U.S. and foreign borrowers that are corporations, partnerships or other business entities. The Fund will do so directly as an original lender or by assignment or indirectly through participation agreements or certain derivative instruments. While many of these loans will be collateralized, the Fund can also invest in uncollateralized loans. Loans are often issued in connection with recapitalizations, acquisitions, leveraged buyouts, and refinancing of borrowers. The loans often pay interest at rates that float above (or are adjusted periodically based on) a benchmark that reflects current interest rates although the Fund can also invest in loans with fixed interest rates.
When investing in loans, the Fund generally will have a contractual relationship only with the lender, not with the relevant borrower. As a result, the Fund generally will have the right to receive payments of principal, interest, and any fees to which it is entitled only from the lender selling the participation and only upon receipt by the lender of the payments from the relevant borrower. The Fund may not directly benefit from the collateral supporting the debt obligation in which it has purchased the participation. As a result, the Fund will assume the credit risk of both the borrower and the institution selling the participation to the Fund.
Securities on a When-Issued or Delayed Delivery Basis. The Fund may purchase securities on a when-issued basis, and may purchase or sell securities on a delayed delivery basis. When-issued or delayed delivery refers to securities whose terms and indenture are available and for which a market exists, but which are not available for immediate delivery. Delivery and payment for securities that have been purchased by the Fund on a when-issued basis normally takes place within six months and possibly as long as two years or more after the 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 purchase of securities on a when-issued basis may increase the volatility of the Funds net asset value to the extent the Fund executes such transactions while remaining substantially fully invested. When the Fund engages in when-issued or delayed delivery transactions, it relies on the buyer or seller, as the case may be, to complete the transaction. Their failure to do so may cause the Fund to lose the opportunity to obtain or dispose of the security at a price and yield it considers advantageous. The Fund may also sell securities that it purchased on a when-issued basis or forward commitment prior to settlement of the original purchase.
At period end, the Fund had purchased securities issued on a when-issued or delayed delivery basis and sold securities issued on a delayed delivery basis as follows:
When-Issued or Delayed Delivery Basis Transactions |
||||
Purchased securities | $473,868,531 | |||
Sold securities | 44,194,414 |
The Fund may enter into forward roll transactions with respect to mortgage-related securities. In this type of transaction, the Fund sells a mortgage-related security to a buyer and simultaneously agrees to repurchase a similar security (same type, coupon and maturity) at
105 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
4. Investments and Risks (Continued)
a later date at a set price. During the period between the sale and the repurchase, the Fund will not be entitled to receive interest and principal payments on the securities that have been sold. 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.
Forward roll transactions may be deemed to entail embedded leverage since the Fund purchases mortgage-related securities with extended settlement dates rather than paying for the securities under a normal settlement cycle. This embedded leverage increases the Funds market value of investments relative to its net assets which can incrementally increase the volatility of the Funds performance. Forward roll transactions can be replicated over multiple settlement periods.
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; and counterparty credit risk.
At period end, the counterparty pledged $3,360,445 of collateral to the Fund for forward roll transactions.
Restricted Securities. At period end, investments in securities included issues that are restricted. A restricted security may have a contractual restriction on its resale and is valued under methods approved by the Board of Trustees as reflecting fair value. Securities that are restricted are marked with an applicable footnote on the Consolidated Statement of Investments. Restricted securities are reported on a schedule following the Consolidated Statement of Investments.
Equity Security Risk. Stocks and other equity securities fluctuate in price. The value of the Funds portfolio may be affected by changes in the equity markets generally. Equity markets may experience significant short-term volatility and may fall sharply at times. Different markets may behave differently from each other and U.S. equity markets may move in the opposite direction from one or more foreign stock markets. Adverse events in any part of the equity or fixed-income markets may have unexpected negative effects on other market segments.
The prices of individual equity securities generally do not all move in the same direction at the same time and a variety of factors can affect the price of a particular companys securities. These factors may include, but are not limited to, poor earnings reports, a loss of customers, litigation against the company, general unfavorable performance of the companys sector or industry, or changes in government regulations affecting the company or its industry.
Credit Risk. The Fund invests in high-yield, non-investment-grade bonds, which may be subject to a greater degree of credit risk. Credit risk relates to the ability of the issuer to meet interest or principal payments or both as they become due. The Fund may acquire securities that have missed an interest payment, and is not obligated to dispose of securities whose
106 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
4. Investments and Risks (Continued)
issuers or underlying obligors subsequently miss an interest and/or principal payment.
Information concerning securities not accruing interest at period end is as follows:
Cost | $23,312,136 | |||
Market Value | $2,193,611 | |||
Market Value as % of Net Assets | 0.06% |
Sovereign Debt Risk. The Fund invests in sovereign debt securities, which are subject to certain special risks. These risks include, but are not limited to, the risk that a governmental entity may delay or refuse, or otherwise be unable, to pay interest or repay the principal on its sovereign debt. There may also be no legal process for collecting sovereign debt that a government does not pay or bankruptcy proceedings through which all or part of such sovereign debt may be collected. In addition, a restructuring or default of sovereign debt may also cause additional impacts to the financial markets, such as downgrades to credit ratings, reduced liquidity and increased volatility, among others.
5. Market Risk Factors
The Funds investments in securities and/or financial derivatives may expose the Fund to various market risk factors:
Commodity Risk. Commodity risk relates to the change in value of commodities or commodity indexes as they relate to increases or decreases in the commodities market. Commodities are physical assets that have tangible properties. Examples of these types of assets are crude oil, heating oil, metals, livestock, and agricultural products.
Credit Risk. Credit risk relates to the ability of the issuer of debt to meet interest and principal payments, or both, as they come due. In general, lower-grade, higher-yield debt securities are subject to credit risk to a greater extent than lower-yield, higher-quality securities.
Equity Risk. Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the general market.
Foreign Exchange Rate Risk. Foreign exchange rate risk relates to the change in the U.S. dollar value of a security held that is denominated in a foreign currency. The U.S. dollar value of a foreign currency denominated security will decrease as the dollar appreciates against the currency, while the U.S. dollar value will increase as the dollar depreciates against the currency.
Interest Rate Risk. Interest rate risk refers to the fluctuations in value of fixed-income securities resulting from the inverse relationship between price and yield. For example, an increase in general interest rates will tend to reduce the market value of already issued fixed-income investments, and a decline in general interest rates will tend to increase their value. In addition, debt securities with longer maturities, which tend to have higher yields, are subject to potentially greater fluctuations in value from changes in interest rates than obligations with shorter maturities.
Volatility Risk. Volatility risk refers to the magnitude of the movement, but not the
107 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
5. Market Risk Factors (Continued)
direction of the movement, in a financial instruments price over a defined time period. Large increases or decreases in a financial instruments price over a relative time period typically indicate greater volatility risk, while small increases or decreases in its price typically indicate lower volatility risk.
6. Use of Derivatives
The Funds investment objective not only permits the Fund to purchase investment securities, it also allows the Fund to enter into various types of derivatives contracts, including, but not limited to, futures contracts, forward currency exchange contracts, credit default swaps, interest rate swaps, total return swaps, variance swaps and purchased and written options. In doing so, the Fund will employ strategies in differing combinations to permit it to increase, decrease, or change the level or types of exposure to market risk factors. These instruments may allow the Fund to pursue its objectives more quickly and efficiently than if it were to make direct purchases or sales of securities capable of effecting a similar response to market factors. Such contracts may be entered into through a bilateral over-the-counter (OTC) transaction, or through a securities or futures exchange and cleared through a clearinghouse.
Derivatives may have little or no initial cash investment relative to their market value exposure and therefore can produce significant gains or losses in excess of their cost due to changes in the market risk factors and the overall market. This use of embedded leverage allows the Fund to increase its market value exposure relative to its net assets and can substantially increase the volatility of the Funds performance. In instances where the Fund is using derivatives to decrease, or hedge, exposures to market risk factors for securities held by the Fund, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or hedged positions. Some derivatives have the potential for unlimited loss, regardless of the size of the Funds initial investment.
Additional associated risks from investing in derivatives also exist and potentially could have significant effects on the valuation of the derivative and the Fund. Typically, the associated risks are not the risks that the Fund is attempting to increase or decrease exposure to, per its investment objectives, but are the additional risks from investing in derivatives. Examples of these associated risks are liquidity risk, which is the risk that the Fund will not be able to sell the derivative in the open market in a timely manner, and counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Fund.
The Funds actual exposures to these market risk factors and associated risks during the period are discussed in further detail, by derivative type, below.
Forward Currency Exchange Contracts
The Fund may enter into forward currency exchange contracts (forward contracts) for the purchase or sale of a foreign currency at a negotiated rate at a future date. Such contracts are traded in the OTC inter-bank currency dealer market.
Forward contracts are reported on a schedule following the Consolidated Statement of Investments. The unrealized appreciation (depreciation) is reported in the Consolidated
108 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
6. Use of Derivatives (Continued)
Statement of Assets and Liabilities as a receivable (or payable) and in the Consolidated Statement of Operations within the change in unrealized appreciation (depreciation). At contract close, the difference between the original cost of the contract and the value at the close date is recorded as a realized gain (loss) in the Consolidated Statement of Operations.
The Fund may enter into forward foreign currency exchange contracts in order to decrease exposure to foreign exchange rate risk associated with either specific transactions or portfolio instruments or to increase exposure to foreign exchange rate risk.
During the reporting period, the Fund had daily average contract amounts on forward contracts to buy and sell of $783,887,565 and $1,367,709,138, respectively.
Additional associated risk to the Fund includes counterparty credit risk. Counterparty credit risk arises from the possibility that the counterparty to a forward contract will default and fail to perform its obligations to the Fund.
Futures Contracts
A futures contract is a commitment to buy or sell a specific amount of a commodity, financial instrument or currency at a negotiated price on a stipulated future date. The Fund may buy and sell futures contracts and may also buy or write put or call options on these futures contracts. Futures contracts and options thereon are generally entered into on a regulated futures exchange and cleared through a clearinghouse associated with the exchange.
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 in an account registered in the futures commission merchants name. Subsequent payments (variation margin) are paid to or from the futures commission merchant each day equal to the daily changes in the contract value. Such payments are recorded as unrealized gains and losses. Should the Fund fail to make requested variation margin payments, the futures commission merchant can gain access to the initial margin to satisfy the Funds payment obligations.
Futures contracts are reported on a schedule following the Consolidated Statement of Investments. Securities held by a futures commission merchant to cover initial margin requirements on open futures contracts are noted in the Consolidated Statement of Investments. Cash held by a futures commission merchant to cover initial margin requirements on open futures contracts and the receivable and/or payable for the daily mark to market for the variation margin are noted in the Consolidated Statement of Assets and Liabilities. The net change in unrealized appreciation and depreciation is reported in the Consolidated Statement of Operations. Realized gains (losses) are reported in the Consolidated Statement of Operations at the closing or expiration of futures contracts.
The Fund may purchase and/or sell financial futures contracts and options on futures contracts to gain exposure to, or decrease exposure to interest rate risk, equity risk, foreign exchange rate risk, volatility risk, or commodity risk.
During the reporting period, the Fund had an ending monthly average market value of $201,226,991 and $607,462,177 on futures contracts purchased and sold, respectively.
Additional associated risks of entering into futures contracts (and related options) include
109 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
6. Use of Derivatives (Continued)
the possibility that there may be an illiquid market where the Fund is unable to liquidate the contract or enter into an offsetting position and, if used for hedging purposes, the risk that the price of the contract will correlate imperfectly with the prices of the Funds securities.
Option Activity
The Fund may buy and sell put and call options, or write put and call options. When an option is written, the Fund receives a premium and becomes obligated to sell or purchase the underlying security, currency or other underlying financial instrument at a fixed price, upon exercise of the option.
Options can be traded through an exchange or through a privately negotiated arrangement with a dealer in an OTC transaction. Options traded through an exchange are generally cleared through a clearinghouse (such as The Options Clearing Corporation). The difference between the premium received or paid, and market value of the option, is recorded as unrealized appreciation or depreciation. The net change in unrealized appreciation or depreciation is reported in the Consolidated Statement of Operations. When an option is exercised, the cost of the security purchased or the proceeds of the security sale are adjusted by the amount of premium received or paid. Upon the expiration or closing of the option transaction, a gain or loss is reported in the Consolidated Statement of Operations.
Foreign Currency Options. The Fund may purchase or write call and put options on currencies to increase or decrease exposure to foreign exchange rate risk. A purchased call, or written put option becomes more valuable as the price of the underlying financial instrument appreciates relative to the strike price. A purchased put, or written call option becomes more valuable as the price of the underlying financial instrument depreciates relative to the strike price.
Interest Rate Options. The Fund may purchase or write call and put options on treasury and/or euro futures to increase or decrease exposure to interest rate risk. A purchased call or written put option becomes more valuable as the price of the underlying financial instrument appreciates relative to the strike price. A purchased put or written call option becomes more valuable as the price of the underlying financial instrument depreciates relative to the strike price.
Index/Security Options. The Fund may purchase or write call and put options on individual equity securities and/or equity indexes to increase or decrease exposure to equity risk. A purchased call or written put option becomes more valuable as the price of the underlying financial instrument appreciates relative to the strike price. A purchased put or written call option becomes more valuable as the price of the underlying financial instrument depreciates relative to the strike price.
During the reporting period, the Fund had an ending monthly average market value of $14,152,974 and $7,523,373 on purchased call options and purchased put options, respectively.
Options written, if any, are reported in a schedule following the Consolidated Statement of Investments and as a liability in the Consolidated Statement of Assets and Liabilities. Securities held in collateral accounts to cover potential obligations with respect to outstanding written
110 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
6. Use of Derivatives (Continued)
options are noted in the Consolidated Statement of Investments.
The risk in writing a call option is the market price of the underlying security increasing above the strike price and the option being exercised. The Fund must then purchase the underlying security at the higher market price and deliver it for the strike price or, if it owns the underlying security, deliver it at the strike price and forego any benefit from the increase in the price of the underlying security above the strike price. The risk in writing a put option is the market price of the underlying security decreasing below the strike price and the option being exercised. The Fund must then purchase the underlying security at the strike price when the market price of the underlying security is below the strike price. Alternatively, the Fund could also close out a written option position, in which case the risk is that the closing transaction will require a premium to be paid by the Fund that is greater than the premium the Fund received. When writing options, the Fund has the additional risk that there may be an illiquid market where the Fund is unable to close the contract. The risk in buying an option is that the Fund pays a premium for the option, and the option may be worth less than the premium paid or expire worthless.
During the reporting period, the Fund had an ending monthly average market value of $7,734,337 and $28,616,762 on written call options and written put options, respectively.
Additional associated risks to the Fund include counterparty credit risk and liquidity risk.
Swap Contracts
The Fund may enter into swap contract agreements with a counterparty to exchange a series of cash flows based on either specified reference rates, the price or volatility of asset or non-asset references, or the occurrence of a credit event, over a specified period. Swaps can be executed in a bi-lateral privately negotiated arrangement with a dealer in an OTC transaction (OTC swaps) or executed on a regulated market. Certain swaps, regardless of the venue of their execution, are required to be cleared through a clearinghouse (centrally cleared swaps). Swap contracts may include interest rate, equity, debt, index, total return, credit default, currency, and volatility swaps.
Swap contracts are reported on a schedule following the Consolidated Statement of Investments. The values of centrally cleared swap and OTC swap contracts are aggregated by positive and negative values and disclosed separately on the Consolidated Statement of Assets and Liabilities. The unrealized appreciation (depreciation) related to the change in the valuation of the notional amount of the swap is combined with the accrued interest due to (owed by) the Fund, if any, at termination or settlement. The net change in this amount during the period is included on the Consolidated Statement of Operations. The Fund also records any periodic payments received from (paid to) the counterparty, including at termination, under such contracts as realized gain (loss) on the Consolidated Statement of Operations.
Swap contract agreements are exposed to the market risk factor of the specific underlying reference rate or asset. Swap contracts are typically more attractively priced compared to similar investments in related cash securities because they isolate the risk to one market risk factor and eliminate the other market risk factors. Investments in cash securities (for instance bonds) have exposure to multiple risk factors (credit and interest rate risk). Because swaps
111 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
6. Use of Derivatives (Continued)
have embedded leverage, they can expose the Fund to substantial risk in the isolated market risk factor.
Credit Default Swap Contracts. A credit default swap is a contract that enables an investor to buy or sell protection against a defined-issuer credit event, such as the issuers failure to make timely payments of interest or principal on a debt security, bankruptcy or restructuring. The Fund may enter into credit default swaps either by buying or selling protection on a corporate issuer, sovereign issuer, or a basket or index of issuers (the reference asset).
The buyer of protection pays a periodic fee to the seller of protection based on the notional amount of the swap contract. The seller of protection agrees to compensate the buyer of protection for future potential losses as a result of a credit event on the reference asset. The contract effectively transfers the credit event risk of the reference asset from the buyer of protection to the seller of protection.
The ongoing value of the contract will fluctuate throughout the term of the contract based primarily on the credit risk of the reference asset. If the credit quality of the reference asset improves relative to the credit quality at contract initiation, the buyer of protection may have an unrealized loss greater than the anticipated periodic fee owed. This unrealized loss would be the result of current credit protection being cheaper than the cost of credit protection at contract initiation. If the buyer elects to terminate the contract prior to its maturity, and there has been no credit event, this unrealized loss will become realized. If the contract is held to maturity, and there has been no credit event, the realized loss will be equal to the periodic fee paid over the life of the contract.
If there is a credit event, the buyer of protection can exercise its rights under the contract and receive a payment from the seller of protection equal to the notional amount of the swap less the market value of specified debt securities issued by the reference asset. Upon exercise of the contract the difference between such value and the notional amount is recorded as realized gain (loss) and is included on the Consolidated Statement of Operations.
The Fund may purchase or sell credit protection through credit default swaps to increase or decrease exposure to the credit risk of individual issuers and/or indexes of issuers that are either unavailable or considered to be less attractive in the bond market.
For the reporting period, the Fund had ending monthly average notional amounts of $92,041,429 and $72,705,426 on credit default swaps to buy protection and credit default swaps to sell protection, respectively.
Additional associated risks to the Fund include counterparty credit risk and liquidity risk.
Interest Rate Swap Contracts. An interest rate swap is an agreement between counterparties to exchange periodic payments based on interest rates. One cash flow stream will typically be a floating rate payment based upon a specified floating interest rate while the other is typically a fixed interest rate.
The Fund may enter into interest rate swaps in which it pays the fixed or floating interest rate in order to increase or decrease exposure to interest rate risk. Typically, if relative interest rates rise, floating payments under a swap agreement will be greater than the fixed
112 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
6. Use of Derivatives (Continued)
payments.
For the reporting period, the Fund had ending monthly average notional amounts of $520,295,692 and $1,513,694,224 on interest rate swaps which pay a fixed rate and interest rate swaps which receive a fixed rate, respectively.
Additional associated risks to the Fund include counterparty credit risk and liquidity risk.
Total Return Swap Contracts. A total return swap is an agreement between counterparties to exchange periodic payments based on the value of asset or non-asset references. One cash flow is typically based on a non-asset reference (such as an interest rate) and the other on the total return of a reference asset (such as a security or a basket of securities or securities index). The total return of the reference asset typically includes appreciation or depreciation on the reference asset, plus any interest or dividend payments.
Total return swap contracts are exposed to the market risk factor of the specific underlying financial instrument or index. Total return swaps are less standard in structure than other types of swaps and can isolate and/or include multiple types of market risk factors including equity risk, credit risk, and interest rate risk.
The Fund may enter into total return swaps to increase or decrease exposure to the credit risk of various indexes or basket of securities. These credit risk related total return swaps require the Fund to pay to, or receive payments from, the counterparty based on the movement of credit spreads of the related indexes or securities.
For the reporting period, the Fund had ending monthly average notional amounts of $70,941,065 on total return swaps which are long the reference asset.
Additional associated risks to the Fund include counterparty credit risk and liquidity risk.
At period end, the Fund had no total return swap agreements outstanding.
Swaption Transactions
The Fund may enter into a swaption contract which grants the purchaser the right, but not the obligation, to enter into a swap transaction at preset terms detailed in the underlying agreement within a specified period of time. The purchaser pays a premium to the swaption writer who bears the risk of unfavorable changes in the preset terms on the underlying swap.
Purchased swaptions are reported as a component of investments in the Consolidated Statement of Investments and the Consolidated Statement of Assets and Liabilities. Written swaptions are reported on a schedule following the Consolidated Statement of Investments and their value is reported as a separate asset or liability line item in the Consolidated Statement of Assets and Liabilities. The net change in unrealized appreciation or depreciation on written swaptions is separately reported in the Consolidated Statement of Operations. When a swaption is exercised, the cost of the swap is adjusted by the amount of premium paid or received. Upon the expiration or closing of an unexercised swaption contract, a gain or loss is reported in the Consolidated Statement of Operations for the amount of the premium paid or received.
The Fund generally will incur a greater risk when it writes a swaption than when it purchases a swaption. When the Fund writes a swaption it will become obligated, upon exercise of the swaption, according to the terms of the underlying agreement. Swaption
113 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
6. Use of Derivatives (Continued)
contracts written by the Fund do not give rise to counterparty credit risk prior to exercise as they obligate the Fund, not its counterparty, to perform. When the Fund purchases a swaption it only risks losing the amount of the premium it paid if the swaption expires unexercised. However, when the Fund exercises a purchased swaption there is a risk that the counterparty will fail to perform or otherwise default on its obligations under the swaption contract.
The Fund may purchase swaptions which give it the option to enter into an interest rate swap in which it pays a floating or fixed interest rate and receives a fixed or floating interest rate in order to increase or decrease exposure to interest rate risk. Purchasing the fixed portion of this swaption becomes more valuable as the reference interest rate decreases relative to the preset interest rate. Purchasing the floating portion of this swaption becomes more valuable as the reference interest rate increases relative to the preset interest rate.
The Fund may purchase swaptions which give it the option to buy or sell credit protection through credit default swaps in order to decrease or increase exposure to the credit risk of individual issuers and/ or indexes of issuers. A swaption selling protection becomes more valuable as the likelihood of a credit event on the reference asset decreases. A swaption buying protection becomes more valuable as the likelihood of a credit event on the reference asset increases.
The Fund may write swaptions which give it the obligation, if exercised by the purchaser, to enter into an interest rate swap in which it pays a fixed or floating interest rate and receives a floating or fixed interest rate in order to increase or decrease exposure to interest rate risk. A written swaption paying a fixed rate becomes more valuable as the reference interest rate increases relative to the preset interest rate. A written swaption paying a floating rate becomes more valuable as the reference interest rate decreases relative to the preset interest rate.
The Fund may write swaptions which give it the obligation, if exercised by the purchaser, to sell or buy credit protection through credit default swaps in order to increase or decrease exposure to the credit risk of individual issuers and/or indexes of issuers. A written swaption selling protection becomes more valuable as the likelihood of a credit event on the reference asset decreases. A written swaption buying protection becomes more valuable as the likelihood of a credit event on the reference asset increases.
The Fund may enter into currency swaption contracts with the obligation to pay an interest rate on the US dollar notional amount or various foreign currency notional amounts and receive an interest rate on various foreign currency notional amounts or US dollar notional amounts, with an option to replace the contractual currency as disclosed in the Consolidated Statement of Investments. This is done in order to take a positive investment perspective on the related currencies for which the Fund receives a payment. The US dollar swaption contracts seek to increase exposure to foreign exchange rate risk. The foreign currency swaption contracts seek to decrease exposure to foreign exchange rate risk.
During the reporting period, the Fund had an ending monthly average market value of $9,249,032 and $22,430,247 on purchased and written swaptions, respectively.
Counterparty Credit Risk. Derivative positions are subject to the risk that the counterparty
114 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
6. Use of Derivatives (Continued)
will not fulfill its obligation to the Fund. The Fund intends to enter into derivative transactions with counterparties that the Manager believes to be creditworthy at the time of the transaction.
The Funds risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate unrealized gain netted against any collateral held by the Fund. For OTC options purchased, the Fund bears the risk of loss of the amount of the premiums paid plus the positive change in market values net of any collateral held by the Fund should the counterparty fail to perform under the contracts. Options written by the Fund do not typically give rise to counterparty credit risk, as options written generally obligate the Fund and not the counterparty to perform.
To reduce counterparty risk with respect to OTC transactions, the Fund has entered into master netting arrangements, established within the Funds International Swap and Derivatives Association, Inc. (ISDA) master agreements, which allow the Fund to make (or to have an entitlement to receive) a single net payment in the event of default (close-out netting) for outstanding payables and receivables with respect to certain OTC positions in swaps, options, swaptions, and forward currency exchange contracts for each individual counterparty. In addition, the Fund may require that certain counterparties post cash and/or securities in collateral accounts to cover their net payment obligations for those derivative contracts subject to ISDA master agreements. If the counterparty fails to perform under these contracts and agreements, the cash and/or securities will be made available to the Fund.
At period end, the Fund has required certain counterparties to post collateral of $4,574,656.
ISDA master agreements include credit related contingent features which allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event that, for example, the Funds net assets decline by a stated percentage or the Fund fails to meet the terms of its ISDA master agreements, which would cause the Fund to accelerate payment of any net liability owed to the counterparty.
For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Consolidated Statement of Assets and Liabilities. Bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events.
The Funds risk of loss from counterparty credit risk on exchange-traded derivatives cleared through a clearinghouse and for centrally cleared swaps is generally considered lower than as compared to OTC derivatives. However, counterparty credit risk exists with respect to initial and variation margin deposited/paid by the Fund that is held in futures commission merchant, broker and/or clearinghouse accounts for such exchange-traded derivatives and for centrally cleared swaps.
With respect to centrally cleared swaps, such transactions will be submitted for clearing, and if cleared, will be held in accounts at futures commission merchants or brokers that are members of clearinghouses. While brokers, futures commission merchants and clearinghouses are required to segregate customer margin from their own assets, in the event that a broker,
115 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
6. Use of Derivatives (Continued)
futures commission merchant or clearinghouse becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the broker, futures commission merchant or clearinghouse for all its customers, U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the brokers, futures commission merchants or clearinghouses customers, potentially resulting in losses to the Fund.
There is the risk that a broker, futures commission merchant or clearinghouse will decline to clear a transaction on the Funds behalf, and the Fund may be required to pay a termination fee to the executing broker with whom the Fund initially enters into the transaction. Clearinghouses may also be permitted to terminate centrally cleared swaps at any time. The Fund is also subject to the risk that the broker or futures commission merchant will improperly use the Funds assets deposited/paid as initial or variation margin to satisfy payment obligations of another customer. In the event of a default by another customer of the broker or futures commission merchant, the Fund might not receive its variation margin payments from the clearinghouse, due to the manner in which variation margin payments are aggregated for all customers of the broker/futures commission merchant.
Collateral and margin requirements differ by type of derivative. Margin requirements are established by the broker, futures commission merchant or clearinghouse for exchange-traded and cleared derivatives, including centrally cleared swaps. Brokers, futures commission merchants and clearinghouses can ask for margin in excess of the regulatory minimum, or increase the margin amount, in certain circumstances.
Collateral terms are contract specific for OTC derivatives. For derivatives traded under an ISDA master agreement, the collateral requirements are typically calculated by netting the mark to market amount for each transaction under such agreement and comparing that amount to the value of any collateral currently pledged by the Fund or the counterparty.
For financial reporting purposes, cash collateral that has been pledged to cover obligations of the Fund, if any, is reported separately on the Consolidated Statement of Assets and Liabilities as cash pledged as collateral. Non-cash collateral pledged by the Fund, if any, is noted in the Consolidated Statement of Investments. Generally, the amount of collateral due from or to a party must exceed a minimum transfer amount threshold (e.g., $250,000) before a transfer has to be made. To the extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance.
The following table presents by counterparty the Funds OTC derivative assets net of the related collateral pledged by the Fund at period end:
116 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
6. Use of Derivatives (Continued)
Gross Amounts Not Offset in the Consolidated Statement of Assets & Liabilities |
||||||||||||||||||||
Counterparty | Gross Amounts Not Offset in the of Assets & |
Financial Instruments Available for Offset |
Financial Instruments Collateral Received** |
Cash Collateral Received** |
Net Amount | |||||||||||||||
Bank of America NA | $ | 11,424,744 | $ | (11,424,744) | $ | | $ | | $ | | ||||||||||
Barclays Bank plc | 522,272 | (522,272) | | | | |||||||||||||||
BNP Paribas | 22,680 | | | | 22,680 | |||||||||||||||
Citibank NA | 9,228,324 | (8,053,848) | | (270,000) | 904,476 | |||||||||||||||
Deutsche Bank AG | 2,936,097 | (561,778) | (444,656) | (1,860,000) | 69,663 | |||||||||||||||
Goldman Sachs Bank | ||||||||||||||||||||
USA | 10,478,806 | (10,478,806) | | | | |||||||||||||||
Goldman Sachs | ||||||||||||||||||||
International | 5,565,674 | (913,720) | | | 4,651,954 | |||||||||||||||
HSBC Bank USA NA | 49,378 | (49,378) | | | | |||||||||||||||
JPMorgan Chase Bank NA | 20,113,931 | (18,643,191) | | (1,190,000) | 280,740 | |||||||||||||||
Morgan Stanley Capital | ||||||||||||||||||||
Services, Inc. | 3,228,109 | (2,497,533) | | (730,576) | | |||||||||||||||
RBC Dominion | ||||||||||||||||||||
Securities | 805,328 | (805,328) | | | | |||||||||||||||
Standard Chartered | ||||||||||||||||||||
Bank | 3,070,889 | (3,070,889) | | | | |||||||||||||||
|
|
|||||||||||||||||||
$ | 67,446,232 | $ | (57,021,487) | $ | (444,656) | $ | (4,050,576) | $ | 5,929,513 | |||||||||||
|
|
*OTC derivatives are reported gross on the Consolidated Statement of Assets and Liabilities. Exchange traded options and margin related to centrally cleared swaps and futures, if any, are excluded from these reported amounts.
**Reported collateral posted for the benefit of the Fund within this table is limited to the net outstanding amount due from an individual counterparty. The collateral posted for the benefit of the Fund may exceed these amounts.
The following table presents by counterparty the Funds OTC derivative liabilities net of the related collateral pledged by the Fund at period end:
Gross Amounts Not Offset in the Consolidated Statement of Assets & Liabilities |
||||||||||||||||||||
Counterparty |
Gross Amounts of Assets & |
Financial Instruments Available for Offset |
Financial Instruments Collateral Pledged** |
Cash Collateral Pledged** |
Net Amount | |||||||||||||||
Bank of America NA | $ | (13,196,047) | $ | 11,424,744 | $ | | $ | 1,771,303 | $ | | ||||||||||
Barclays Bank plc | (3,291,058) | 522,272 | | 2,768,786 | | |||||||||||||||
Citibank NA | (8,053,848) | 8,053,848 | | | | |||||||||||||||
Deutsche Bank AG | (561,778) | 561,778 | | | | |||||||||||||||
Goldman Sachs Bank USA | (36,480,130) | 10,478,806 | | 22,230,000 | (3,771,324) | |||||||||||||||
Goldman Sachs | ||||||||||||||||||||
International | (913,720) | 913,720 | | | |
117 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
6. Use of Derivatives (Continued)
Gross Amounts Not Offset in the Consolidated Statement of Assets & Liabilities |
||||||||||||||||||||
Counterparty |
Gross Amounts of Assets & |
Financial Instruments Available for Offset |
Financial Instruments Collateral Pledged** |
Cash Collateral Pledged** |
Net Amount | |||||||||||||||
HSBC Bank USA NA | $ | (329,060) | $ | 49,378 | $ | | $ | 279,682 | $ | | ||||||||||
JPMorgan Chase Bank NA | (18,643,191) | 18,643,191 | | | | |||||||||||||||
Morgan Stanley Capital | ||||||||||||||||||||
Services, Inc. | (2,497,533) | 2,497,533 | | | | |||||||||||||||
Nomura Global | ||||||||||||||||||||
Financial Products, Inc. | (1,053,543) | | | 1,053,543 | | |||||||||||||||
RBC Dominion Securities | (897,379) | 805,328 | | | (92,051) | |||||||||||||||
Standard Chartered Bank | (7,026,227) | 3,070,889 | | 3,955,338 | | |||||||||||||||
|
|
|||||||||||||||||||
$ | (92,943,514) | $ | 57,021,487 | $ | | $ | 32,058,652 | $ | (3,863,375) | |||||||||||
|
|
*OTC derivatives are reported gross on the Consolidated Statement of Assets and Liabilities. Exchange traded options and margin related to centrally cleared swaps and futures, if any, are excluded from these reported amounts.
**Reported collateral pledged within this table is limited to the net outstanding amount due from the Fund. The securities pledged as collateral by the Fund as reported on the Consolidated Statement of Investments may exceed these amounts.
The following table presents the valuations of derivative instruments by risk exposure as reported within the Consolidated Statement of Assets and Liabilities at period end:
Asset Derivatives |
Liability Derivatives |
|||||||||||
Derivatives | ||||||||||||
Not Accounted | Consolidated | Consolidated | ||||||||||
for as Hedging | Statement of Assets | Statement of Assets | ||||||||||
Instruments | and Liabilities Location | Value | and Liabilities Location | Value | ||||||||
Credit contracts | Swaps, at value | $ | 679,864 | Swaps, at value | $ | 3,763,035 | ||||||
Interest rate contracts | Swaps, at value | 254,387 | Swaps, at value | 569,084 | ||||||||
Credit contracts | Centrally cleared swaps, at value | 1,592,835 | Centrally cleared swaps, at value | 7,303,874 | ||||||||
Interest rate contracts | Centrally cleared swaps, at value | 7,958,319 | Centrally cleared swaps, at value | 4,313,099 | ||||||||
Interest rate contracts | Variation margin receivable | 581,339 | * | Variation margin payable | 222,771 | * | ||||||
Forward currency exchange contracts | Unrealized appreciation on forward currency exchange contracts | 24,235,639 | Unrealized depreciation on forward currency exchange contracts | 23,825,265 | ||||||||
Equity contracts | Options written, at value | 7,112,594 | ||||||||||
Currency contracts | Options written, at value | 43,166,946 | ||||||||||
Interest rate contracts | Options written, at value | 666,468 | ||||||||||
Credit contracts | Swaptions written, at value | 1,396,757 | ||||||||||
Interest rate contracts | Swaptions written, at value | 12,443,365 | ||||||||||
Credit contracts | Investments, at value | 885,399 | ** |
118 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
6. Use of Derivatives (Continued)
Asset Derivatives |
Liability Derivatives |
|||||||||||
Derivatives | ||||||||||||
Not Accounted | Consolidated | Consolidated | ||||||||||
for as Hedging | Statement of Assets | Statement of Assets | ||||||||||
Instruments | and Liabilities Location | Value | and Liabilities Location | Value | ||||||||
Equity contracts | Investments, at value | $ | 14,069,555** | |||||||||
Currency contracts | Investments, at value | 21,327,645** | ||||||||||
Interest rate contracts | Investments, at value | 5,993,743** | ||||||||||
|
|
|
|
|||||||||
Total | $ | 77,578,725 | $ | 104,783,258 | ||||||||
|
|
|
|
*Includes only the current days variation margin. Prior variation margin movements have been reflected in cash on the Consolidated Statement of Assets and Liabilities upon receipt or payment.
**Amounts relate to purchased option contracts and purchased swaption contracts, if any.
The effect of derivative instruments on the Consolidated Statement of Operations is as follows:
Amount of Realized Gain or (Loss) Recognized on Derivatives | ||||||||||||||||
Derivatives | Investment | |||||||||||||||
Not Accounted | transactions | Swaption | Option | |||||||||||||
for as Hedging | in unaffiliated | contracts | contracts | Futures | ||||||||||||
Instruments | companies* | written | written | contracts | ||||||||||||
Credit contracts | $ | (3,181,781 | ) | $ | 3,045,554 | $ | | $ | | |||||||
Currency Contracts | (5,176,353 | ) | | 26,939,802 | | |||||||||||
Equity contracts | 3,719,197 | | (1,612,676 | ) | | |||||||||||
Forward currency exchange contracts | | | | | ||||||||||||
Interest rate contracts | 5,689,693 | (12,711,349 | ) | 707,992 | (12,343,898 | ) | ||||||||||
|
|
| ||||||||||||||
Total | $ | 1,050,756 | $ | (9,665,795 | ) | $ | 26,035,118 | $ | (12,343,898 | ) | ||||||
|
|
| ||||||||||||||
Amount of Realized Gain or (Loss) Recognized on Derivatives | ||||||||||||||||
Derivatives | Forward | |||||||||||||||
Not Accounted | currency | |||||||||||||||
for as Hedging | exchange | |||||||||||||||
Instruments | contracts | Swap contracts | Total | |||||||||||||
Credit contracts | $ | | $ | (2,367,503 | ) | $ | (2,503,730 | ) | ||||||||
Currency Contracts | | | 21,763,449 | |||||||||||||
Equity contracts | | 4,096 | 2,110,617 | |||||||||||||
Forward currency exchange contracts | (39,521,598 | ) | | (39,521,598 | ) | |||||||||||
Interest rate contracts | | 4,576,813 | (14,080,749 | ) | ||||||||||||
|
|
| ||||||||||||||
Total | $ | (39,521,598 | ) | $ | 2,213,406 | $ | (32,232,011 | ) | ||||||||
|
|
|
*Includes purchased option contracts and purchased swaption contracts, if any.
119 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
6. Use of Derivatives (Continued)
Amount of Change in Unrealized Gain or (Loss) Recognized on Derivatives | ||||||||||||||||
Derivatives Not Accounted for as Hedging Instruments |
Investment transactions in unaffiliated companies* |
Swaption contracts written |
Option contracts written |
Futures contracts |
||||||||||||
Credit contracts | $ | (993,880 | ) | $ | 1,283,396 | $ | | $ | | |||||||
Currency contracts | (6,870,276 | ) | | 12,151,568 | | |||||||||||
Equity contracts | 218,295 | | (111,751 | ) | | |||||||||||
Forward currency exchange contracts | | | | | ||||||||||||
Interest rate contracts | 938,560 | (5,708,770 | ) | (89,273 | ) | (1,972,606 | ) | |||||||||
|
|
| ||||||||||||||
Total | $ | (6,707,301 | ) | $ | (4,425,374 | ) | $ | 11,950,544 | $ | (1,972,606 | ) | |||||
|
|
|
Amount of Change in Unrealized Gain or (Loss) Recognized on Derivatives | ||||||||||||
Derivatives Not Accounted for as Hedging Instruments |
Forward currency exchange contracts |
Swap contracts | Total | |||||||||
Credit contracts | $ | | $ | 716,550 | $ | 1,006,066 | ||||||
Currency contracts | | | 5,281,292 | |||||||||
Equity contracts | | | 106,544 | |||||||||
Forward currency exchange contracts | 17,353,151 | | 17,353,151 | |||||||||
Interest rate contracts | | 7,186,065 | 353,976 | |||||||||
|
|
| ||||||||||
Total | $ | 17,353,151 | $ | 7,902,615 | $ | 24,101,029 | ||||||
|
|
|
*Includes purchased option contracts and purchased swaption contracts, if any.
7. Shares of Beneficial Interest
The Fund has authorized an unlimited number of $0.001 par value shares of beneficial interest of each class. Transactions in shares of beneficial interest were as follows:
Six Months Ended March 31, 2019 | Year Ended September 30, 2018 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class A | ||||||||||||||||
Sold1 | 15,135,585 | $ | 55,528,921 | 45,219,211 | $ | 174,958,678 | ||||||||||
Dividends and/or distributions reinvested | 18,861,399 | 69,123,971 | 32,590,219 | 125,317,871 | ||||||||||||
Redeemed | (73,021,446 | ) | (267,379,225 | ) | (143,187,491 | ) | (551,662,029 | ) | ||||||||
|
|
| ||||||||||||||
Net decrease | (39,024,462 | ) | $ | (142,726,333 | ) | (65,378,061 | ) | $ | (251,385,480 | ) | ||||||
|
|
| ||||||||||||||
Class B | ||||||||||||||||
Sold | | $ | | 25,013 | $ | 98,072 | ||||||||||
Dividends and/or distributions reinvested | | | 51,419 | 202,425 | ||||||||||||
Redeemed1 | | | (4,051,560 | ) | (15,858,387 | ) | ||||||||||
|
|
| ||||||||||||||
Net decrease | | $ | | (3,975,128 | ) | $ | (15,557,890 | ) | ||||||||
|
|
|
120 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
7. Shares of Beneficial Interest (Continued)
Six Months Ended March 31, 2019 | Year Ended September 30, 2018 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class C |
||||||||||||||||
Sold | 3,600,459 | $ | 13,187,742 | 8,727,719 | $ | 33,818,381 | ||||||||||
Dividends and/or distributions reinvested | 3,369,082 | 12,307,758 | 6,081,273 | 23,366,153 | ||||||||||||
Redeemed | (20,556,484 | ) | (75,109,334 | ) | (45,976,966 | ) | (176,602,247 | ) | ||||||||
|
|
| ||||||||||||||
Net decrease | (13,586,943 | ) | $ | (49,613,834 | ) | (31,167,974 | ) | $ | (119,417,713 | ) | ||||||
|
|
| ||||||||||||||
Class I | ||||||||||||||||
Sold | 1,302,455 | $ | 4,803,021 | 3,153,820 | $ | 12,196,482 | ||||||||||
Dividends and/or distributions reinvested | 348,850 | 1,227,831 | 601,762 | 2,305,887 | ||||||||||||
Redeemed | (1,380,343 | ) | (5,035,086 | ) | (4,601,422 | ) | (17,690,652 | ) | ||||||||
|
|
| ||||||||||||||
Net increase (decrease) | 270,962 | $ | 995,766 | (845,840 | ) | $ | (3,188,283 | ) | ||||||||
|
|
| ||||||||||||||
Class R | ||||||||||||||||
Sold | 1,778,139 | $ | 6,523,870 | 5,031,105 | $ | 19,473,916 | ||||||||||
Dividends and/or distributions reinvested | 770,303 | 2,824,420 | 1,273,744 | 4,902,998 | ||||||||||||
Redeemed | (3,921,793 | ) | (14,385,246 | ) | (7,598,526 | ) | (29,335,636 | ) | ||||||||
|
|
| ||||||||||||||
Net decrease | (1,373,351 | ) | $ | (5,036,956 | ) | (1,293,677 | ) | $ | (4,958,722 | ) | ||||||
|
|
| ||||||||||||||
Class Y | ||||||||||||||||
Sold | 13,343,292 | $ | 49,031,329 | 27,622,778 | $ | 106,371,546 | ||||||||||
Dividends and/or distributions reinvested | 2,683,871 | 9,828,859 | 5,418,455 | 20,844,909 | ||||||||||||
Redeemed | (25,033,813 | ) | (91,314,097 | ) | (58,250,444 | ) | (223,283,822 | ) | ||||||||
|
|
| ||||||||||||||
Net decrease | (9,006,650 | ) | $ | (32,453,909 | ) | (25,209,211 | ) | $ | (96,067,367 | ) | ||||||
|
|
|
1. All outstanding Class B shares converted to Class A shares on June 1, 2018.
8. Purchases and Sales of Securities
The aggregate cost of purchases and proceeds from sales of securities, other than short-term obligations and investments in IGMMF, for the reporting period were as follows:
Purchases | Sales | |||||||
Investment securities | $ | 1,296,029,336 | $ | 1,178,433,303 | ||||
U.S. government and government agency obligations | 231,436,078 | 1,266,535 | ||||||
To Be Announced (TBA) mortgage-related securities | 3,007,915,960 | 3,024,999,238 |
9. Fees and Other Transactions with Affiliates
Management Fees. Under the investment advisory agreement, the Fund pays the Manager a management fee based on the daily net assets of the Fund at an annual rate as shown in the following table:
121 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
9. Fees and Other Transactions with Affiliates (Continued)
Fee Schedule | ||||
Up to $200 million in assets | 0.75 | % | ||
Next $200 million in assets | 0.72 | |||
Next $200 million in assets | 0.69 | |||
Next $200 million in assets | 0.66 | |||
Next $200 million in assets | 0.60 | |||
Next $4 billion in assets | 0.50 | |||
Next $5 billion in assets | 0.48 | |||
Over $10 billion in assets | 0.46 |
The Manager also provides investment management related services to the Subsidiary. The Subsidiary pays the Manager a monthly management fee at an annual rate according to the above schedule. The Subsidiary also pays certain other expenses including custody and directors fees.
The Funds effective management fee for the reporting period was 0.55% of average annual net assets before any Subsidiary management fees or any applicable waivers.
Sub-Adviser Fees. The Manager has retained the Sub-Adviser to provide the day-to-day portfolio management of the Fund and the Subsidiary. Under the Sub-Advisory Agreement, the Manager pays the Sub-Adviser an annual fee in monthly installments, equal to a percentage of the investment management fee collected by the Manager from the Fund and the Subsidiary, which shall be calculated after any investment management fee waivers. The fee paid to the Sub-Adviser is paid by the Manager, not by the Fund.
Transfer Agent Fees. OFI Global (the Transfer Agent) serves as the transfer and shareholder servicing agent for the Fund. The Fund pays the Transfer Agent a fee based on annual net assets, which shall be calculated after any applicable fee waivers. Fees incurred and average net assets for each class with respect to these services are detailed in the Consolidated Statement of Operations and Consolidated Financial Highlights, respectively.
Sub-Transfer Agent Fees. The Transfer Agent has retained Shareholder Services, Inc., a wholly-owned subsidiary of OFI (the Sub-Transfer Agent), to provide the day-to-day transfer agent and shareholder servicing of the Fund. Under the Sub-Transfer Agency Agreement, the Transfer Agent pays the Sub-Transfer Agent an annual fee in monthly installments, equal to a percentage of the transfer agent fee collected by the Transfer Agent from the Fund, which shall be calculated after any applicable fee waivers. The fee paid to the Sub-Transfer Agent is paid by the Transfer Agent, not by the Fund.
Trustees Compensation. The Funds Board of Trustees (Board) has adopted a compensation deferral plan for Independent Trustees that enables Trustees to elect to defer receipt of all or a portion of the annual compensation they are entitled to receive from the Fund. For purposes of determining the amount owed to the Trustees under the plan, deferred amounts are treated as though equal dollar amounts had been invested in shares of the Fund or in other Oppenheimer funds selected by the Trustees. The Fund purchases shares of the
122 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
9. Fees and Other Transactions with Affiliates (Continued)
funds selected for deferral by the Trustees in amounts equal to his or her deemed investment, resulting in a Fund asset equal to the deferred compensation liability. Such assets are included as a component of Other within the asset section of the Consolidated Statement of Assets and Liabilities. Deferral of Trustees fees under the plan will not affect the net assets of the Fund and will not materially affect the Funds assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance with the compensation deferral plan.
Distribution and Service Plan (12b-1) Fees. Under its General Distributors Agreement with the Fund, OppenheimerFunds Distributor, Inc. (the Distributor) acts as the Funds principal underwriter in the continuous public offering of the Funds classes of shares.
Service Plan for Class A Shares. The Fund has adopted a Service Plan (the Plan) for Class A shares pursuant to Rule 12b-1 under the 1940 Act. Under the Plan, the Fund reimburses the Distributor for a portion of its costs incurred for services provided to accounts that hold Class A shares. Reimbursement is made periodically at an annual rate of up to 0.25% of the daily net assets of Class A shares of the Fund. The Distributor currently uses all of those fees to pay dealers, brokers, banks and other financial institutions periodically for providing personal service and maintenance of accounts of their customers that hold Class A shares. Any unreimbursed expenses the Distributor incurs with respect to Class A shares in any fiscal year cannot be recovered in subsequent periods. Fees incurred by the Fund under the Plan are detailed in the Consolidated Statement of Operations.
Distribution and Service Plans for Class C and Class R Shares. The Fund has adopted Distribution and Service Plans (the Plans) for Class C and Class R shares, pursuant to Rule 12b-1 under the 1940 Act to compensate the Distributor for distributing those share classes, maintaining accounts and providing shareholder services. Under the Plans, the Fund pays the Distributor an annual asset-based sales charge of 0.75% on Class C shares daily net assets and 0.25% on Class R shares daily net assets. The Fund also pays a service fee under the Plans at an annual rate of 0.25% of daily net assets. The Plans continue in effect from year to year only if the Funds Board of Trustees votes annually to approve their continuance at an in person meeting called for that purpose. Fees incurred by the Fund under the Plans are detailed in the ConsolidatedStatement of Operations.
Sales Charges. Front-end sales charges and CDSC do not represent expenses of the Fund. They are deducted from the proceeds of sales of Fund shares prior to investment or from redemption proceeds prior to remittance, as applicable. The sales charges retained by the Distributor from the sale of shares and the CDSC retained by the Distributor on the redemption of shares is shown in the following table for the period indicated.
123 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
NOTES TO
CONSOLIDATED FINANCIAL STATEMENTS Unaudited / Continued
9. Fees and Other Transactions with Affiliates (Continued)
Six Months Ended | Class A Front-End Sales Charges Retained by Distributor |
Class A Contingent Deferred Sales Charges Retained by Distributor |
Class C Contingent Deferred Sales Charges Retained by Distributor |
Class R Contingent Deferred Sales Charges Retained by Distributor |
||||||||||||
March 31, 2019 | $126,545 | $790 | $9,532 | $ |
Waivers and Reimbursements of Expenses. The Manager has contractually agreed to waive the management fee it receives from the Fund in an amount equal to the management fee it receives from the Subsidiary. During the reporting period, the Manager waived $59,423. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of the Funds prospectus, unless approved by the Board.
The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Funds investments in Affiliated Funds. During the reporting period, the Manager waived fees and/or reimbursed the Fund $815,588 for these management fees. This fee waiver and/or expense reimbursement may not be amended or withdrawn for one year from the date of the Funds prospectus, unless approved by the Board.
10. Borrowing and Other Financing
Joint Credit Facility. A number of mutual funds managed by the Manager participate in a $1.95 billion revolving credit facility (the Facility) intended to provide short-term financing, if necessary, subject to certain restrictions in connection with atypical redemption activity. Expenses and fees related to the Facility are paid by the participating funds and are disclosed separately or as other expenses on the Consolidated Statement of Operations. The Fund did not utilize the Facility during the reporting period.
Loan Commitments. The following commitments are subject to funding based on the borrowers discretion. The Fund is obligated to fund these commitments at the time of the request by the borrower. These commitments have been excluded from the Statement of Investments. The unrealized appreciation/depreciation on these commitments is recorded as an asset/liability on the Statement of Assets and Liabilities.
Interest Rate |
Commitment Termination Date |
Unfunded Amount |
Unrealized Appreciation |
|||||||||||||
Claires Stores, Inc., Sr. Sec. | ||||||||||||||||
Credit Facilities Term Loan | 0.75% | 10/12/22 | $ | 29,159 | $ | 2,498 |
11. Pending Acquisition
On October 18, 2018, Massachusetts Mutual Life Insurance Company, an indirect corporate parent of the Sub-Adviser and the Manager, announced that it has entered into an agreement
124 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
11. Pending Acquisition (Continued)
whereby Invesco Ltd. (Invesco), a global investment management company, will acquire the Sub-Adviser (the Transaction). In connection with the Transaction, on January 11, 2019, the Funds Board unanimously approved an Agreement and Plan of Reorganization (the Agreement), which provides for the transfer of the assets and liabilities of the Fund to a corresponding, newly formed fund (the Acquiring Fund) in the Invesco family of funds (the Reorganization) in exchange for shares of the corresponding Acquiring Fund of equal value to the value of the shares of the Fund as of the close of business on the closing date. Although the Acquiring Fund will be managed by Invesco Advisers, Inc., the Acquiring Fund will, as of the closing date, have the same investment objective and substantially similar principal investment strategies and risks as the Fund. After the Reorganization, Invesco Advisers, Inc. will be the investment adviser to the Acquiring Fund, and the Fund will be liquidated and dissolved under applicable law and terminate its registration under the Investment Company Act of 1940, as amended. The Reorganization is expected to be a tax-free reorganization for U.S. federal income tax purposes.
As of 5 p.m. Eastern Standard Time on April 12, 2019, the Reorganization has been approved by shareholders of record of the Fund as of January 14, 2019. Accordingly, if certain other closing conditions are satisfied or waived, the Reorganization is currently expected to close on or about May 24, 2019, or as soon as practicable thereafter. This is subject to change.
125 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
PORTFOLIO PROXY VOTING POLICIES AND PROCEDURES;
UPDATES TO STATEMENT OF INVESTMENTS Unaudited
The Fund has adopted Portfolio Proxy Voting Policies and Guidelines under which the Fund votes proxies relating to securities (portfolio proxies) held by the Fund. A description of the Funds Portfolio Proxy Voting Policies and Guidelines is available (i) without charge, upon request, by calling the Fund toll-free at 1.800.CALL OPP (225.5677), (ii) on the Funds website at www.oppenheimerfunds.com, and (iii) on the SECs website at www.sec.gov. In addition, the Fund is required to file Form N-PX, with its complete proxy voting record for the 12 months ended June 30th, no later than August 31st of each year. The Funds voting record is available (i) without charge, upon request, by calling the Fund toll-free at 1.800.CALL OPP (225.5677), and (ii) in the Form N-PX filing on the SECs website at www.sec.gov.
The Fund files its complete schedule of portfolio holdings with the SEC for the first quarter and the third quarter of each fiscal year on Form N-Q. The Funds Form N-Q filings are available on the SECs website at www.sec.gov. Beginning in April 2019, the Fund will no longer file Form N-Qs and will instead disclose its portfolio holdings monthly on Form
N-PORT, which will also be available on the SECs website at www.sec.gov.
HouseholdingDelivery of Shareholder Documents
This is to inform you about OppenheimerFunds householding policy. If more than one member of your household maintains an account in a particular fund, OppenheimerFunds will mail only one copy of the funds prospectus (or, if available, the funds summary prospectus), annual and semiannual report and privacy policy. The consolidation of these mailings, called householding, benefits your fund through reduced mailing expense, and benefits you by reducing the volume of mail you receive from OppenheimerFunds. Householding does not affect the delivery of your account statements.
Please note that we will continue to household these mailings for as long as you remain an OppenheimerFunds shareholder, unless you request otherwise. If you prefer to receive multiple copies of these materials, please call us at 1.800.CALL-OPP (225-5677). You may also notify us in writing or via email. We will begin sending you individual copies of the prospectus (or, if available, the summary prospectus), reports and privacy policy within 30 days of receiving your request to stop householding.
126 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
DISTRIBUTION SOURCES Unaudited
For any distribution that took place over the last six months of the Funds reporting period, the table below details on a per-share basis the percentage of the Funds total distribution payment amount that was derived from the following sources: net income, net profit from the sale of securities, and other capital sources. Other capital sources represent a return of capital. A return of capital may occur, for example, when some or all of the money that you invested in the Fund is paid back to you. A return of capital distribution does not necessarily reflect the Funds investment performance and should not be confused with yield or income. You should not draw any conclusions about the Funds investment performance from the amounts of these distributions. This information is based upon income and capital gains using generally accepted accounting principles as of the date of each distribution. If the Fund (or an underlying fund in which the Fund invests) invests in real estate investment trusts (REITs) and/or master limited partnerships (MLPs), the percentages attributed to each category are estimated using historical information because the character of the amounts received from the REITs and/or MLPs in which the Fund (or underlying fund) invests is unknown until after the end of the calendar year. Because the Fund is actively managed, the relative amount of the Funds total distributions derived from various sources over the calendar year may change. Please note that this information should not be used for tax reporting purposes as the tax character of distributable income may differ from the amounts used for this notification. You will receive IRS tax forms in the first quarter of each calendar year detailing the actual amount of the taxable and non-taxable portion of distributions paid to you during the tax year.
For the most current information, please go to oppenheimerfunds.com. Select your Fund, and scroll down to the Dividends table under Analytics.
Fund Name | Pay Date |
Net Income | Net Profit from Sale |
Other Capital Sources |
||||||||||||
Oppenheimer Global Strategic Income Fund | 3/29/19 | 99.9% | 0.0% | 0.1% |
127 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
©2019 OppenheimerFunds, Inc. All rights reserved.
128 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
As an Oppenheimer fund shareholder, you are entitled to know how we protect your personal information and how we limit its disclosure.
Information Sources
We obtain non-public personal information about our shareholders from the following sources:
· | Applications or other forms. |
· | When you create a user ID and password for online account access. |
· | When you enroll in eDocs Direct,SM our electronic document delivery service. |
· | Your transactions with us, our affiliates or others. |
· | Technologies on our website, including: cookies and web beacons, which are used to collect data on the pages you visit and the features you use. |
If you visit oppenheimerfunds.com and do not log on to the secure account information areas, we do not obtain any personal information about you. When you do log on to a secure area, we do obtain your user ID and password to identify you. We also use this information to provide you with products and services you have requested, to inform you about products and services that you may be interested in and assist you in other ways.
We do not collect personal information through our website unless you willingly provide it to us, either directly by email or in those areas of the website that request information. In order to update your personal information (including your mailing address, email address and phone number) you must first log on and visit your user profile.
If you have set your browser to warn you before accepting cookies, you will receive the warning message with each cookie. You can refuse cookies by turning them off in your browser. However, doing so may limit your access to certain sections of our website.
We use cookies to help us improve and manage our website. For example, cookies help us recognize new versus repeat visitors to the site, track the pages visited, and enable some special features on the website. This data helps us provide better service for our website visitors.
Protection of Information
We do not disclose any non-public personal information (such as names on a customer list) about current or former customers to anyone, except as permitted by law.
Disclosure of Information
Copies of confirmations, account statements and other documents reporting activity in your fund accounts are made available to your financial advisor (as designated by you). We may also use details about you and your investments to help us, our financial service affiliates, or firms that jointly market their financial products and services with ours, to better serve your investment needs or suggest educational material that may be of interest to you. If this requires us to provide you with an opportunity to opt in or opt out of such information sharing with a firm not affiliated with us, you will receive notification on how to do so, before any such sharing takes place.
Right of Refusal
We will not disclose your personal information to unaffiliated third parties (except as permitted by law), unless we first offer you a reasonable opportunity to refuse or opt out of such disclosure.
129 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
PRIVACY NOTICE Continued
Internet Security and Encryption
In general, the email services provided by our website are encrypted and provide a secure and private means of communication with us. To protect your own privacy, confidential and/ or personal information should only be communicated via email when you are advised that you are using a secure website.
As a security measure, we do not include personal or account information in non-secure emails, and we advise you not to send such information to us in non-secure emails. Instead, you may take advantage of the secure features of our website to encrypt your email correspondence. To do this, you will need to use a browser that supports Secure Sockets Layer (SSL) protocol.
· | All transactions conducted via our websites, including redemptions, exchanges and purchases, are secured by the highest encryption standards available. SSL is used to establish a secure connection between your PC and OppenheimerFunds server. It transmits information in an encrypted and scrambled format. |
· | Encryption is achieved through an electronic scrambling technology that uses a key to code and then decode the data. Encryption acts like the cable converter box you may have on your television set. It scrambles data with a secret code so that no one can make sense of it while it is being transmitted. When the data reaches its destination, the same software unscrambles the data. |
· | You can exit the secure area by closing your browser or, for added security, you can use the Log Out button before you close your browser. |
Other Security Measures
We maintain physical, electronic and procedural safeguards to protect your personal account information. Our employees and agents have access to that information only so that they may offer you products or provide services, for example, when responding to your account questions.
How You Can Help
You can also do your part to keep your account information private and to prevent unauthorized transactions. If you obtain a user ID and password for your account, safeguard that information.
Strengthening your online credentialsyour online security profiletypically your user name, password, and security questions and answers, can be one of your most important lines of defense on the Internet. For additional information on how you can help prevent identity theft, visit https://www. oppenheimerfunds.com/security.
Who We Are
This joint notice describes the privacy policies of the Oppenheimer funds, OppenheimerFunds, Inc., each of its investment adviser subsidiaries, OppenheimerFunds Distributor, Inc. and OFI Global Trust Co. It applies to all Oppenheimer fund accounts you presently have, or may open in the future, using your Social Security numberwhether or not you remain a shareholder of our funds. This notice was last updated as of November 2017. In the event it is updated or changed, we will post an updated notice on our website at oppenheimerfunds.com. If you have any questions about this privacy policy, email us by clicking on the Contact Us section of our website at oppenheimerfunds.com, write to us at P.O. Box 5270, Denver, CO 80217-5270, or call us at 800 CALL OPP (225 5677).
130 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
THIS PAGE INTENTIONALLY LEFT BLANK.
131 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
THIS PAGE INTENTIONALLY LEFT BLANK.
132 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
THIS PAGE INTENTIONALLY LEFT BLANK.
133 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
THIS PAGE INTENTIONALLY LEFT BLANK.
134 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
THIS PAGE INTENTIONALLY LEFT BLANK.
135 OPPENHEIMER GLOBAL STRATEGIC INCOME FUND
Visit us at oppenheimerfunds.com for 24-hr access to account information and transactions or call us at 800.CALL OPP (800.225.5677) for 24-hr automated information and automated transactions. Representatives also available MonFri 8am-8pm ET.
Visit Us
oppenheimerfunds.com
Call Us
800 225 5677
Follow Us
![]() |
Oppenheimer funds are distributed by OppenheimerFunds Distributor, Inc. 225 Liberty Street, New York, NY 10281-1008 © 2019 OppenheimerFunds Distributor, Inc. All rights reserved. | |
RS0230.001.0319 May 15, 2019 |
Item 2. Code of Ethics.
Not applicable to semiannual reports.
Item 3. Audit Committee Financial Expert.
Not applicable to semiannual reports.
Item 4. Principal Accountant Fees and Services.
Not applicable to semiannual reports.
Item 5. Audit Committee of Listed Registrants
Not applicable.
Item 6. Schedule of Investments.
a) Not applicable. The complete schedule of investments is included in Item 1 of this Form N-CSR.
b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
The Funds Governance Committee Provisions with Respect to Nominations of Directors/Trustees to the Respective Boards
None
Item 11. Controls and Procedures.
Based on their evaluation of the registrants 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 3/31/2019, the registrants principal executive officer and principal financial officer found the registrants 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 registrants 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.
There have been no changes in the registrants internal controls over financial reporting that occurred during the registrants most recent fiscal half-year covered by this report that have materially affected, or are reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
(a) (1) Exhibit attached hereto.
(2) 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 Global Strategic Income Fund
By: | /s/ Arthur P. Steinmetz | |
Arthur P. Steinmetz | ||
Principal Executive Officer | ||
Date: | 5/17/2019 |
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/ Arthur P. Steinmetz | |
Arthur P. Steinmetz | ||
Principal Executive Officer | ||
Date: | 5/17/2019 | |
By: | /s/ Brian S. Petersen | |
Brian S. Petersen | ||
Principal Financial Officer | ||
Date: | 5/17/2019 |
Exhibit 99.CERT
Section 302 Certifications
CERTIFICATIONS
I, Arthur P. Steinmetz, certify that:
1. | I have reviewed this report on Form N-CSR of Oppenheimer Global Strategic Income 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 financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants 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 registrants 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 180 days prior to the filing date of this report based on such evaluation; and |
(d) | Disclosed in this report any change in the registrants internal control over financial reporting that occurred during the most recent fiscal half-year by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of Trustees (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 registrants 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 registrants internal control over financial reporting. |
Date: 5/17/2019
/s/ Arthur P. Steinmetz |
Arthur P. Steinmetz |
Principal Executive Officer |
Exhibit 99.CERT
Section 302 Certifications
CERTIFICATIONS
I, Brian S. Petersen, certify that:
1. | I have reviewed this report on Form N-CSR of Oppenheimer Global Strategic Income 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 financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
4. | The registrants 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 registrants 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 registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting; and |
5. | The registrants other certifying officer and I have disclosed to the registrants auditors and the audit committee of the registrants board of Trustees (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 registrants 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 registrants internal control over financial reporting. |
Date: 5/17/2019 |
/s/ Brian S. Petersen |
Brian S. Petersen |
Principal Financial Officer |
EX-99.906CERT
Section 906 Certifications
CERTIFICATION PURSUANT TO 18 U.S.C SECTION 1350,
AS ADOPTED PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002
Arthur P. Steinmetz, Principal Executive Officer, and Brian S. Petersen, Principal Financial Officer, of Oppenheimer Global Strategic Income Fund (the Registrant), each certify to the best of his knowledge that:
1. | The Registrants periodic report on Form N-CSR for the period ended 3/31/2019 (the Form N-CSR) fully complies with the requirements of Section 15(d) of the Securities Exchange Act of 1934, as amended; and |
2. | The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant. This certification is being furnished to the Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR filed with the Commission. |
Principal Executive Officer | Principal Financial Officer | |||
Oppenheimer Global Strategic Income Fund | Oppenheimer Global Strategic Income Fund | |||
/s/ Arthur P. Steinmetz | /s/ Brian S. Petersen | |||
Arthur P. Steinmetz | Brian S. Petersen | |||
Date: 5/17/2019 | Date: 5/17/2019 |