UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
INVESTMENT COMPANIES
Investment Company Act file number 811-09333
Oppenheimer Main Street Small Cap Fund
(Exact name of registrant as specified in charter)
6803 South Tucson Way, Centennial, Colorado 80112-3924
(Address of principal executive offices) (Zip code)
(Address of principal executive offices) (Zip code)
Robert G. Zack, Esq.
OppenheimerFunds, Inc.
Two World Financial Center, New York, New York 10281-1008
(Name and address of agent for service)
OppenheimerFunds, Inc.
Two World Financial Center, New York, New York 10281-1008
(Name and address of agent for service)
Registrant’s telephone number, including area code: (303) 768-3200
Date of fiscal year end: June 30
Date of reporting period: 06/30/2009
Item 1. Reports to Stockholders.
June 30, 2009 Oppenheimer Management Main Street Commentaries and Small Cap Fund® Annual Report M A N A G E M E N T C O M M E N TA R I E S Market Recap and Outlook A N N U A L R E P O RT Listing of Top Holdings Fund Performance Discussion Listing of Investments Financial Statements |
TOP HOLDINGS AND ALLOCATIONS
Top Ten Common Stock Holdings | ||||
TIBCO Software, Inc. | 0.6 | % | ||
MSCI, Inc., Cl. A | 0.5 | |||
Savient Pharmaceuticals, Inc. | 0.4 | |||
NuVasive, Inc. | 0.4 | |||
Gardner Denver, Inc. | 0.4 | |||
Phillips/Van Heusen Corp. | 0.4 | |||
Skyworks Solutions, Inc. | 0.3 | |||
CommScope, Inc. | 0.3 | |||
AK Steel Holding Corp. | 0.3 | |||
3Com Corp. | 0.3 |
Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2009, and are based on net assets. For more current Top 10 Fund holdings, please visit www.oppenheimerfunds.com.
Top Ten Common Stock Industries | ||||
| | ||||
Specialty Retail | 5.4 | % | ||
Semiconductors & Semiconductor Equipment | 5.1 | |||
Insurance | 4.9 | |||
Machinery | 4.8 | |||
Commercial Services & Supplies | 4.3 | |||
Health Care Providers & Services | 4.1 | |||
Energy Equipment & Services | 3.8 | |||
Software | 3.6 | |||
Real Estate Investment Trusts | 3.5 | |||
Electronic Equipment & Instruments | 3.4 |
Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2009, and are based on net assets.
9 | OPPENHEIMER MAIN STREET SMALL CAP FUND
TOP HOLDINGS AND ALLOCATIONS
Sector Allocation
Portfolio holdings and allocations are subject to change. Percentages are as of June 30, 2009, and are based on the total market value of common stocks.
10 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FUND PERFORMANCE DISCUSSION
How has the Fund performed? Below is a discussion by OppenheimerFunds, Inc., of the Fund’s performance during its fiscal year ended June 30, 2009, followed by a graphical comparison of the Fund’s performance to appropriate broad-based market indices.
Management’s Discussion of Fund Performance. Oppenheimer Main Street Small Cap Fund’s Class A shares (without sales charge) returned –23.14% for the one-year period ended June 30, 2009. In comparison, the Russell 2000 Index (the “Index”) returned –25.01%. During the tumultuous period from September 2008 through March 2009 which saw significant market dislocations and historic market volatility, Fund performance suffered. The Fund’s performance was particularly strong in the last quarter of the reporting period, where it handily outperformed the Index.
2008 was a historically volatile and unprecedented period in the financial markets and the volatility continued during the first quarter of 2009. A credit crunch that began in 2007 escalated into a full-blown global financial crisis over the second half of 2008 as turmoil spread from the sub-prime mortgage sector of the U.S. bond market to other financial markets. As asset prices plummeted, highly leveraged financial institutions were forced to sell their more liquid, higher-quality assets in order to raise much needed cash, which put downward pressure on a broad range of asset classes. Large financial institutions were forced to take deep write-offs, which resulted in massive losses and ultimately led to the insolvency or near insolvency of a number of commercial banks, investment banks, mortgage agencies and insurance companies.
When federal regulators decided not to financially participate in the rescue of Lehman Brothers in September 2008, the investment bank declared bankruptcy and defaulted on its obligations, including commercial paper held by some money market funds. Nervous investors responded with a wave of redemptions. Banks also became more cautious, refraining from extending loans to even their most trusted customers, including other banks. Consequently, the banking system nearly ground to a halt.
Against this tumultuous market backdrop, the recession deepened as the crisis in the financial markets led to massive job losses across industries and steeper declines in home values. As the unemployment rate continued to rise during the reporting period, anxious consumers as well as businesses reduced their spending, adding to the severity of the recession. Additionally, as the global economy slowed, demand for energy and basic materials also subsided, sending most commodity prices down. Given these events, investors grew exceedingly cautious. In a “flight to safety,” many investors reduced their exposure to the equity markets and flocked to U.S. Treasury securities.
Governments and central banks around the world responded to the crisis by injecting large amounts of liquidity, cutting
short-term interest rates and developing rescue
short-term interest rates and developing rescue
11 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FUND PERFORMANCE DISCUSSION
packages for failing industries and companies. Although these efforts helped to re-open the equity markets and stabilize the credit markets, uncertainty dominated the markets. In the last quarter of the reporting period, the equity markets rebounded, signaling that perhaps the worst of the market volatility is behind us.
Given this backdrop, Fund performance suffered during the periods of highest volatility, particularly in the 4th quarter of 2008 and 1st quarter of 2009. During this period, the bear market was especially severe for traditionally economically-sensitive sectors, such as the consumer discretionary and information technology sectors, while sectors whose fortunes rise and fall with commodity prices, such as energy and basic materials producers, also were hard hit. Conversely, the historically defensive consumer staples and utilities sectors held up relatively well. However, in the last quarter of the period, many of the more economically-sensitive sectors came roaring back.
Overall for the reporting period, the Fund’s stock selection within the consumer discretionary and information technology sectors and relative overweights benefited relative performance versus the Russell 2000 Index. Stock selection within the financials sector also outperformed versus the Index. These three sectors primarily accounted for the Fund’s outperformance versus the Index during the reporting period.
A relative overweight to the materials sector hurt Fund performance, as the sector was the second weakest performer within the Index. Relative performance was hurt by underweights to consumer staples, utilities and health care, the three sectors within the Index least scorched by the extreme market volatility during the reporting period. An overweight to energy hurt Fund performance, as this sector fared the worst during the period, but better relative stock selection than the Index allowed the Fund to outperform in this sector.
At the end of the reporting period, the Fund maintained its relative overweights to consumer discretionary, energy, industrials, information technology and materials. The Fund at period end remained underweight consumer staples slightly, with more significant relative underweights in the health care, utilities and financials sectors.
Comparing the Fund’s Performance to the Market. The graphs that follow show the performance of a hypothetical $10,000 investment in each class of shares of the Fund held until June 30, 2009. In the case of Class A, Class B, Class C and Class Y shares, performance is measured from inception of the Classes on August 2, 1999. In the case of Class N shares, performance is measured from inception of the Class on March 1, 2001. The Fund’s performance reflects the deduction of the maximum initial sales charge on Class A shares, the applicable contingent deferred sales charge on Class B, Class C and Class N shares, and reinvestments of all dividends and capital gains distributions. Past performance cannot guarantee future results.
12 | OPPENHEIMER MAIN STREET SMALL CAP FUND
The Fund’s performance is compared to the performance of the Russell 2000 Index and the Lipper Small Cap Core Fund Index. The Russell 2000 Index is an unmanaged index of small-capitalization stocks. Index performance reflects the reinvestment of income but does not consider the effect of transaction costs, and none of the data in the graphs shows the effect of taxes. The Lipper Small Cap Core Fund Index is an unmanaged index that includes the 30 largest mutual funds within the investment category as defined by Lipper Inc. The Fund’s performance reflects the effects of the Fund’s business and operating expenses. While index comparisons may be useful to provide a benchmark for the Fund’s performance, it must be noted that the Fund’s investments are not limited to the investments in the index.
13 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FUND PERFORMANCE DISCUSSION
Class A Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Average Annual Total Returns of Class A Shares with Sales Charge of the Fund at 6/30/09
1-Year –27.56% 5-Year –1.58% Since Inception (8/2/99) 6.76%
1-Year –27.56% 5-Year –1.58% Since Inception (8/2/99) 6.76%
14 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Class B Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Average Annual Total Returns of Class B Shares with Sales Charge of the Fund at 6/30/09
1-Year –27.57% 5-Year –1.44% Since Inception (8/2/99) 6.91%
1-Year –27.57% 5-Year –1.44% Since Inception (8/2/99) 6.91%
The 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 investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, visit us at www.oppenheimerfunds.com, or call us at 1.800.525.7048. 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 5.75%; for Class B shares, the contingent deferred sales charge of 5% (1-year) and 2% (5-year); and for Class C and N shares, the contingent 1% deferred sales charge for the 1-year period. There is no sales charge for Class Y shares. Because Class B shares convert to Class A shares 72 months after purchase, the “since inception” return for Class B does not include any contingent sales charges on redemption and uses Class A performance for the period after conversion. See page 19 for further information.
15 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FUND PERFORMANCE DISCUSSION
Class C Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Average Annual Total Returns of Class C Shares with Sales Charge of the Fund at 6/30/09
1-Year –24.48% 5-Year –1.11% Since Inception (8/2/99) 6.63%
1-Year –24.48% 5-Year –1.11% Since Inception (8/2/99) 6.63%
16 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Class N Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Average Annual Total Returns of Class N Shares with Sales Charge of the Fund at 6/30/09
1-Year –24.11% 5-Year –0.70% Since Inception (3/1/01) 3.94%
1-Year –24.11% 5-Year –0.70% Since Inception (3/1/01) 3.94%
The 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 investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, visit us at www.oppenheimerfunds.com, or call us at 1.800.525.7048. 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 5.75%; for Class B shares, the contingent deferred sales charge of 5% (1-year) and 2% (5-year); and for Class C and N shares, the contingent 1% deferred sales charge for the 1-year period. There is no sales charge for Class Y shares. Because Class B shares convert to Class A shares 72 months after purchase, the “since inception” return for Class B does not include any contingent sales charges on redemption and uses Class A performance for the period after conversion. See page 19 for further information.
17 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FUND PERFORMANCE DISCUSSION
Class Y Shares
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Comparison of Change in Value of $10,000 Hypothetical Investments in:
Average Annual Total Returns of Class Y Shares of the Fund at 6/30/09
1-Year –22.93% 5-Year 0.03% Since Inception (8/2/99) 7.87%
1-Year –22.93% 5-Year 0.03% Since Inception (8/2/99) 7.87%
The 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 investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. For performance data current to the most recent month end, visit us at www.oppenheimerfunds.com, or call us at 1.800.525.7048. 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 5.75%; for Class B shares, the contingent deferred sales charge of 5% (1-year) and 2% (5-year); and for Class C and N shares, the contingent 1% deferred sales charge for the 1-year period. There is no sales charge for Class Y shares. Because Class B shares convert to Class A shares 72 months after purchase, the “since inception” return for Class B does not include any contingent sales charges on redemption and uses Class A performance for the period after conversion. See page 19 for further information.
18 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES
Total returns and the ending account values in the graphs include changes in share price and reinvestment of dividends and capital gains distributions in a hypothetical investment for the periods shown. The Fund’s total returns shown do not reflect the potential impact of income taxes on an individual’s investment. Taxes may reduce your actual investment returns on income or gains paid by the Fund or any gains you may realize if you sell your shares.
Investors should consider the Fund’s investment objectives, risks, and other charges and expenses carefully before investing. The Fund’s prospectus contains this and other information about the Fund, and may be obtained by asking your financial advisor, calling us at 1.800.525.7048 or visiting our website at www.oppenheimerfunds.com. Read the prospectus carefully before investing.
The Fund’s investment strategy and focus can change over time. The mention of specific fund holdings does not constitute a recommendation by OppenheimerFunds, Inc.
Class A shares of the Fund were first publicly offered on 8/2/99. Unless otherwise noted, Class A returns include the current maximum initial sales charge of 5.75%.
Class B shares of the Fund were first publicly offered on 8/2/99. Unless otherwise noted, Class B returns include the applicable contingent deferred sales charge of 5% (1-year) and 2% (5-year). Because Class B shares convert to Class A shares 72 months after purchase, the “since inception” return for Class B does not include any contingent sales charges on redemption and uses Class A performance for the period after conversion. Class B shares are subject to an annual 0.75% asset-based sales charge.
Class C shares of the Fund were first publicly offered on 8/2/99. Unless otherwise noted Class C returns include the contingent deferred sales charge of 1% for the 1-year period. Class C shares are subject to an annual 0.75% asset-based sales charge.
Class N shares of the Fund were first publicly offered on 3/1/01. Class N shares are offered only through retirement plans. Unless otherwise noted, Class N returns include the contingent deferred sales charge of 1% for the 1-year period. Class N shares are subject to an annual 0.25% asset-based sales charge.
19 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES
Class Y shares of the Fund were first publicly offered on 8/2/99. Class Y shares are offered only to certain institutional investors under a special agreement with the Distributor, and to present or former officers, directors, trustees or employees (and their eligible family members) of the Fund, the Manager, its affiliates, its parent company and the subsidiaries of its parent company, and retirement plans established for the benefit of such individuals.
An explanation of the calculation of performance is in the Fund’s Statement of Additional Information.
20 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FUND EXPENSES
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, contingent deferred sales charges on redemptions; and redemption fees (if applicable); 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 June 30, 2009.
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 Period” 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 Fund’s 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 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), or a $12.00 fee imposed annually on accounts valued at less than $500.00 (subject to exceptions described in
21 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FUND EXPENSES Continued
the Statement of Additional Information). 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.
Beginning | Ending | Expenses | ||||||||||
Account | Account | Paid During | ||||||||||
Value | Value | 6 Months Ended | ||||||||||
January 1, 2009 | June 30, 2009 | June 30, 2009 | ||||||||||
Actual | ||||||||||||
Class A | $ | 1,000.00 | $ | 1,128.50 | $ | 6.46 | ||||||
Class B | 1,000.00 | 1,123.50 | 10.90 | |||||||||
Class C | 1,000.00 | 1,124.80 | 10.64 | |||||||||
Class N | 1,000.00 | 1,126.90 | 7.99 | |||||||||
Class Y | 1,000.00 | 1,129.60 | 5.13 | |||||||||
Hypothetical (5% return before expenses) | ||||||||||||
Class A | 1,000.00 | 1,018.74 | 6.12 | |||||||||
Class B | 1,000.00 | 1,014.58 | 10.34 | |||||||||
Class C | 1,000.00 | 1,014.83 | 10.09 | |||||||||
Class N | 1,000.00 | 1,017.31 | 7.58 | |||||||||
Class Y | 1,000.00 | 1,019.98 | 4.87 |
Expenses are equal to the Fund’s annualized expense ratio for that class, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period). Those annualized expense ratios, excluding indirect expenses from affiliated fund, based on the 6-month period ended June 30, 2009 are as follows:
Class | Expense Ratios | |||
Class A | 1.22 | % | ||
Class B | 2.06 | |||
Class C | 2.01 | |||
Class N | 1.51 | |||
Class Y | 0.97 |
The expense ratios reflect reduction to custodian expenses and voluntary waivers or reimbursements of expenses by the Fund’s Transfer Agent and Manager that can be terminated at any time, without advance notice. The “Financial Highlights” tables in the Fund’s financial statements, included in this report, also show the gross expense ratios, without such waivers or reimbursements and reduction to custodian expenses, if applicable.
22 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS June 30, 2009
Shares | Value | |||||||
Common Stocks—96.0% | ||||||||
Consumer Discretionary—15.9% | ||||||||
Auto Components—0.9% | ||||||||
ArvinMeritor, Inc. | 101,409 | $ | 445,186 | |||||
Autoliv, Inc. | 63,499 | 1,826,866 | ||||||
Cooper Tire & Rubber Co. | 579,413 | 5,747,777 | ||||||
Drew Industries, Inc.1 | 44,540 | 542,052 | ||||||
Exide Technologies1 | 327,024 | 1,219,800 | ||||||
Federal-Mogul Corp.1 | 6,975 | 65,914 | ||||||
Fuel Systems Solutions, Inc.1 | 36,030 | 727,446 | ||||||
Gentex Corp. | 14,880 | 172,608 | ||||||
Modine Manufacturing Co. | 63,541 | 304,997 | ||||||
Stoneridge, Inc.1 | 228,665 | 1,097,592 | ||||||
Superior Industries International, Inc. | 53,917 | 760,230 | ||||||
Tenneco, Inc.1 | 220,549 | 2,337,819 | ||||||
TRW Automotive Holdings Corp.1 | 652,400 | 7,372,120 | ||||||
WABCO Holdings, Inc. | 427,407 | 7,565,104 | ||||||
30,185,511 | ||||||||
Automobiles—0.2% | ||||||||
Thor Industries, Inc. | 281,960 | 5,179,605 | ||||||
Winnebago Industries, Inc. | 87,098 | 647,138 | ||||||
5,826,743 | ||||||||
Distributors—0.0% | ||||||||
Core-Mark Holding Co., Inc.1 | 30,186 | 786,647 | ||||||
Diversified Consumer Services—0.6% | ||||||||
Capella Education Co.1 | 26,600 | 1,594,670 | ||||||
Career Education Corp.1 | 43,870 | 1,091,924 | ||||||
Corinthian Colleges, Inc.1 | 132,250 | 2,238,993 | ||||||
Hillenbrand, Inc. | 40,620 | 675,917 | ||||||
Learning Tree International, Inc.1 | 290 | 2,987 | ||||||
Lincoln Educational Services1 | 23,260 | 486,832 | ||||||
Noah Education Holdings Ltd., ADR | 85,636 | 332,268 | ||||||
Regis Corp. | 408,965 | 7,120,081 | ||||||
Service Corp. International | 104,810 | 574,359 | ||||||
Steiner Leisure Ltd.1 | 113,217 | 3,456,515 | ||||||
Stewart Enterprises, Inc. | 466,831 | 2,250,125 | ||||||
19,824,671 | ||||||||
Hotels, Restaurants & Leisure—2.6% | ||||||||
AFC Enterprises, Inc.1 | 11,240 | 75,870 | ||||||
Ameristar Casinos, Inc. | 84,932 | 1,616,256 | ||||||
Bally Technologies, Inc.1 | 237,500 | 7,106,000 | ||||||
BJ’s Restaurants, Inc.1 | 77,905 | 1,314,257 | ||||||
Bob Evans Farms, Inc. | 320,930 | 9,223,528 | ||||||
Boyd Gaming Corp.1 | 697,538 | 5,929,073 | ||||||
Brinker International, Inc. | 323,920 | 5,516,358 | ||||||
Buffalo Wild Wings, Inc.1 | 41,450 | 1,347,954 | ||||||
Burger King Holdings, Inc. | 26,570 | 458,864 | ||||||
California Pizza Kitchen, Inc.1 | 144,180 | 1,916,152 | ||||||
CEC Entertainment, Inc.1 | 171,750 | 5,063,190 | ||||||
Churchill Downs, Inc. | 11,530 | 388,100 | ||||||
CKE Restaurants, Inc. | 227,570 | 1,929,794 | ||||||
Cracker Barrel Old Country Store, Inc. | 159,647 | 4,454,151 | ||||||
Denny’s Corp.1 | 727,390 | 1,563,889 | ||||||
DineEquity, Inc. | 31,422 | 980,052 | ||||||
Dover Downs Gaming & Entertainment, Inc. | 5,270 | 24,506 | ||||||
Gaylord Entertainment Co., Cl. A1 | 17,570 | 223,315 | ||||||
International Speedway Corp., Cl. A | 63,060 | 1,614,967 | ||||||
Interval Leisure Group, Inc.1 | 72,026 | 671,282 | ||||||
Isle of Capri Casinos, Inc.1 | 64,860 | 863,935 | ||||||
Jack in the Box, Inc.1 | 75,866 | 1,703,192 |
F1 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Hotels, Restaurants & Leisure Continued | ||||||||
Krispy Kreme Doughnuts, Inc.1 | 160,130 | $ | 480,390 | |||||
Life Time Fitness, Inc.1 | 58,999 | 1,180,570 | ||||||
Marcus Corp. (The) | 53,720 | 565,134 | ||||||
O’Charley’s, Inc. | 18,890 | 174,733 | ||||||
Orient-Express Hotel Ltd., Cl. A | 187,132 | 1,588,751 | ||||||
Panera Bread Co., Cl. A1 | 11,440 | 570,398 | ||||||
Papa John’s International, Inc.1 | 114,971 | 2,850,131 | ||||||
Pinnacle Entertainment, Inc.1 | 197,160 | 1,831,616 | ||||||
Red Robin Gourmet Burgers, Inc.1 | 153,206 | 2,872,613 | ||||||
Ruby Tuesday, Inc.1 | 288,350 | 1,920,411 | ||||||
Shuffle Master, Inc.1 | 78,011 | 515,653 | ||||||
Sonic Corp.1 | 16,770 | 168,203 | ||||||
Speedway Motorsports, Inc. | 160,624 | 2,210,186 | ||||||
Steak n Shake Co. (The)1 | 127,271 | 1,112,349 | ||||||
Texas Roadhouse, Inc., Cl. A1 | 139,630 | 1,523,363 | ||||||
Town Sports International Holdings, Inc.1 | 26,525 | 99,469 | ||||||
Vail Resorts, Inc.1 | 152,196 | 4,081,897 | ||||||
WMS Industries, Inc.1 | 189,560 | 5,973,036 | ||||||
Wyndham Worldwide Corp. | 359,269 | 4,354,340 | ||||||
88,057,928 | ||||||||
Household Durables—1.4% | ||||||||
American Greetings Corp., Cl. A | 620,335 | 7,245,513 | ||||||
Blyth, Inc. | 115,914 | 3,800,820 | ||||||
Brookfield Homes Corp.1 | 1,250 | 5,000 | ||||||
Centex Corp. | 34,504 | 291,904 | ||||||
CSS Industries, Inc. | 50,232 | 1,023,728 | ||||||
Ethan Allen Interiors, Inc. | 59,720 | 618,699 | ||||||
Furniture Brands International, Inc. | 236,520 | 716,656 | ||||||
Harman International Industries, Inc. | 257,653 | 4,843,876 | ||||||
Helen of Troy Ltd.1 | 158,316 | 2,658,126 | ||||||
Hooker Furniture Corp. | 48,601 | 557,939 | ||||||
Jarden Corp.1 | 325,970 | 6,111,938 | ||||||
La-Z-Boy, Inc. | 382,956 | 1,807,552 | ||||||
Lennar Corp., Cl. A | 175,740 | 1,702,921 | ||||||
M/I Homes, Inc.1 | 35,111 | 343,737 | ||||||
Meritage Homes Corp.1 | 170,791 | 3,221,118 | ||||||
National Presto Industries, Inc. | 27,955 | 2,127,376 | ||||||
Palm Harbor Homes, Inc.1 | 21,947 | 47,186 | ||||||
Ryland Group, Inc. (The) | 142,216 | 2,383,540 | ||||||
Sealy Corp.1 | 175,142 | 343,278 | ||||||
Tempur-Pedic International, Inc. | 196,877 | 2,573,182 | ||||||
Tupperware Brands Corp. | 184,610 | 4,803,552 | ||||||
47,227,641 | ||||||||
Internet & Catalog Retail—0.7% | ||||||||
1-800-FLOWERS.com, Inc.1 | 85,817 | 164,769 | ||||||
Bidz.com, Inc.1 | 17,060 | 48,109 | ||||||
Blue Nile, Inc.1 | 90,070 | 3,872,109 | ||||||
Gaiam, Inc.1 | 31,470 | 172,141 | ||||||
HSN, Inc.1 | 155,167 | 1,640,115 | ||||||
Liberty Media Corp.- Interactive, Series A1 | 22,010 | 110,270 | ||||||
NetFlix.com, Inc.1 | 158,430 | 6,549,496 | ||||||
NutriSystem, Inc. | 219,740 | 3,186,230 | ||||||
Orbitz Worldwide, Inc.1 | 31,827 | 60,471 | ||||||
Overstock.com, Inc.1 | 121,956 | 1,458,594 |
F2 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Internet & Catalog Retail Continued | ||||||||
PetMed Express, Inc.1 | 85,420 | $ | 1,283,863 | |||||
Shutterfly, Inc.1 | 108,980 | 1,520,271 | ||||||
Stamps.com, Inc.1 | 160,304 | 1,359,378 | ||||||
Ticketmaster Entertainment, Inc.1 | 260,500 | 1,672,410 | ||||||
23,098,226 | ||||||||
Leisure Equipment & Products—0.5% | ||||||||
Brunswick Corp. | 814,550 | 3,518,856 | ||||||
Callaway Golf Co. | 509,760 | 2,584,483 | ||||||
Hasbro, Inc. | 17,260 | 418,382 | ||||||
JAKKS Pacific, Inc.1 | 234,150 | 3,004,145 | ||||||
Leapfrog Enterprises, Inc.1 | 294,450 | 674,291 | ||||||
Polaris Industries, Inc. | 168,577 | 5,414,693 | ||||||
RC2 Corp.1 | 62,340 | 824,758 | ||||||
Smith & Wesson Holding Corp.1 | 180,930 | 1,027,682 | ||||||
17,467,290 | ||||||||
Media—0.9% | ||||||||
Arbitron, Inc. | 41,690 | 662,454 | ||||||
Belo Corp., Cl. A | 486,449 | 870,744 | ||||||
Central European Media Enterprises Ltd., Cl. A1 | 13,363 | 263,117 | ||||||
CKX, Inc.1 | 6,300 | 44,667 | ||||||
Clear Channel Outdoor Holdings, Inc., Cl. A1 | 21,080 | 111,724 | ||||||
CTC Media, Inc.1 | 21,230 | 250,939 | ||||||
Entercom Communications Corp. | 21,940 | 33,568 | ||||||
Entravision Communications Corp.1 | 595,662 | 285,918 | ||||||
EW Scripps Co. (The), Cl. A | 281,280 | 587,875 | ||||||
Gannett Co., Inc. | 71,560 | 255,469 | ||||||
Global Sources Ltd.1 | 252,030 | 1,817,136 | ||||||
Harte-Hanks, Inc. | 216,522 | 2,002,829 | ||||||
Journal Communications, Inc. | 53,087 | 55,741 | ||||||
Knology, Inc.1 | 21,820 | 188,307 | ||||||
Liberty Media Holding Corp.-Capital, Series A1 | 116,301 | 1,577,042 | ||||||
Live Nation, Inc.1 | 162,520 | 789,847 | ||||||
McClatchy Co., Cl. A | 248,447 | 124,224 | ||||||
Mediacom Communications Corp.1 | 178,614 | 912,718 | ||||||
Meredith Corp. | 360,420 | 9,208,731 | ||||||
National CineMedia, Inc. | 98,130 | 1,350,269 | ||||||
Scholastic Corp. | 342,160 | 6,771,346 | ||||||
Sinclair Broadcast Group, Inc., Cl. A | 445,530 | 864,328 | ||||||
Warner Music Group Corp.1 | 289,719 | 1,694,856 | ||||||
30,723,849 | ||||||||
Multiline Retail—0.6% | ||||||||
99 Cents Only Stores1 | 22,270 | 302,427 | ||||||
Big Lots, Inc.1 | 256,360 | 5,391,251 | ||||||
Dillard’s, Inc., Cl. A | 819,373 | 7,538,232 | ||||||
Fred’s, Inc. | 410,427 | 5,171,380 | ||||||
18,403,290 | ||||||||
Specialty Retail—5.4% | ||||||||
Aaron Rents, Inc. | 3,680 | 109,738 | ||||||
Advance Auto Parts, Inc. | 11,630 | 482,529 | ||||||
Aeropostale, Inc.1 | 262,030 | 8,979,768 | ||||||
America’s Car-Mart, Inc.1 | 58,590 | 1,201,095 | ||||||
AnnTaylor Stores Corp.1 | 718,039 | 5,729,951 | ||||||
Asbury Automotive Group, Inc. | 368,420 | 3,772,621 | ||||||
AutoNation, Inc.1 | 1,130 | 19,606 | ||||||
Barnes & Noble, Inc. | 225,110 | 4,644,019 | ||||||
bebe stores, inc. | 126,760 | 872,109 | ||||||
Big 5 Sporting Goods Corp. | 17,605 | 194,711 |
F3 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Specialty Retail Continued | ||||||||
Blockbuster, Inc., Cl. A1 | 107,610 | $ | 72,099 | |||||
Books-A-Million, Inc. | 4,320 | 30,715 | ||||||
Borders Group, Inc.1 | 132,846 | 488,873 | ||||||
Brown Shoe Co., Inc. | 594,825 | 4,306,533 | ||||||
Buckle, Inc. (The) | 273,822 | 8,699,325 | ||||||
Cabela’s, Inc.1 | 239,831 | 2,949,921 | ||||||
Cato Corp., Cl. A | 87,761 | 1,530,552 | ||||||
Charlotte Russe Holding, Inc.1 | 157,746 | 2,031,768 | ||||||
Charming Shoppes, Inc.1 | 522,518 | 1,943,767 | ||||||
Children’s Place Retail Stores, Inc.1 | 328,310 | 8,677,233 | ||||||
Christopher & Banks Corp. | 186,420 | 1,250,878 | ||||||
Citi Trends, Inc.1 | 196,077 | 5,074,473 | ||||||
Collective Brands, Inc.1 | 320,930 | 4,675,950 | ||||||
Conn’s, Inc.1 | 110,481 | 1,381,013 | ||||||
Dress Barn, Inc. (The)1 | 594,160 | 8,496,488 | ||||||
Finish Line, Inc. (The), Cl. A | 402,770 | 2,988,553 | ||||||
Foot Locker, Inc. | 339,084 | 3,550,209 | ||||||
Genesco, Inc.1 | 222,336 | 4,173,247 | ||||||
Group 1 Automotive, Inc. | 248,910 | 6,476,638 | ||||||
Guess?, Inc. | 40,430 | 1,042,285 | ||||||
Gymboree Corp.1 | 143,060 | 5,075,769 | ||||||
Haverty Furniture Cos., Inc. | 27,295 | 249,749 | ||||||
hhgregg, Inc.1 | 75,789 | 1,148,961 | ||||||
Hot Topic, Inc.1 | 174,772 | 1,277,583 | ||||||
Jo-Ann Stores, Inc.1 | 158,598 | 3,278,221 | ||||||
Jos. A. Banks Clothiers, Inc.1 | 21,720 | 748,471 | ||||||
Men’s Wearhouse, Inc. (The) | 552,755 | 10,601,841 | ||||||
Office Depot, Inc.1 | 1,384,090 | 6,311,450 | ||||||
OfficeMax, Inc. | 19,680 | 123,590 | ||||||
Pacific Sunwear of California, Inc.1 | 293,290 | 988,387 | ||||||
Penske Automotive Group, Inc. | 301,740 | 5,020,954 | ||||||
Pep Boys-Manny, Moe & Jack | 313,456 | 3,178,444 | ||||||
RadioShack Corp. | 59,954 | 836,958 | ||||||
Rent-A-Center, Inc.1 | 391,330 | 6,977,414 | ||||||
Sally Beauty Holdings, Inc.1 | 659,750 | 4,196,010 | ||||||
Signet Jewelers Ltd. | 42,894 | 893,053 | ||||||
Sonic Automotive, Inc. | 134,966 | 1,371,255 | ||||||
Stage Stores, Inc. | 503,238 | 5,585,942 | ||||||
Systemax, Inc.1 | 228,037 | 2,715,921 | ||||||
Talbots, Inc. (The) | 399,669 | 2,158,213 | ||||||
Tractor Supply Co.1 | 173,480 | 7,168,194 | ||||||
Wet Seal, Inc., Cl. A1 | 985,371 | 3,025,089 | ||||||
Williams-Sonoma, Inc. | 852,351 | 10,117,406 | ||||||
Zale Corp.1 | 3,850 | 13,244 | ||||||
Zumiez, Inc.1 | 98,510 | 789,065 | ||||||
179,697,851 | ||||||||
Textiles, Apparel & Luxury Goods—2.1% | ||||||||
American Apparel, Inc.1 | 89,978 | 327,520 | ||||||
Carter’s, Inc.1 | 255,121 | 6,278,528 | ||||||
Fossil, Inc.1 | 212,973 | 5,128,390 | ||||||
Iconix Brand Group, Inc.1 | 53,585 | 824,137 | ||||||
Jones Apparel Group, Inc. | 585,876 | 6,286,449 | ||||||
K-Swiss, Inc., Cl. A | 46,670 | 396,695 | ||||||
Liz Claiborne, Inc. | 1,409,400 | 4,059,072 | ||||||
Maidenform Brands, Inc.1 | 110,150 | 1,263,421 | ||||||
Movado Group, Inc. | 62,173 | 655,303 | ||||||
Oxford Industries, Inc. | 145,345 | 1,693,269 | ||||||
Perry Ellis International, Inc.1 | 155,864 | 1,134,690 | ||||||
Phillips/Van Heusen Corp. | 408,467 | 11,718,918 |
F4 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Textiles, Apparel & Luxury Goods Continued | ||||||||
Quicksilver, Inc.1 | 1,451,652 | $ | 2,685,556 | |||||
Steven Madden Ltd.1 | 81,888 | 2,084,050 | ||||||
Timberland Co., Cl. A1 | 449,584 | 5,965,980 | ||||||
Unifi, Inc.1 | 257,095 | 365,075 | ||||||
UniFirst Corp. | 57,506 | 2,137,498 | ||||||
Volcom, Inc.1 | 68,768 | 859,600 | ||||||
Warnaco Group, Inc. (The)1 | 316,671 | 10,260,140 | ||||||
Wolverine World Wide, Inc. | 272,360 | 6,008,262 | ||||||
70,132,553 | ||||||||
Consumer Staples—2.7% | ||||||||
Beverages—0.1% | ||||||||
Boston Beer Co., Inc., Cl. A1 | 22,188 | 656,543 | ||||||
Central European Distribution Corp.1 | 75,240 | 1,999,127 | ||||||
Dr. Pepper Snapple Group, Inc.1 | 60 | 1,271 | ||||||
2,656,941 | ||||||||
Food & Staples Retailing—0.5% | ||||||||
Andersons, Inc. (The) | 50,644 | 1,516,281 | ||||||
Arden Group, Inc., Cl. A | 7,948 | 994,295 | ||||||
Casey’s General Stores, Inc. | 163,180 | 4,192,094 | ||||||
Ingles Markets, Inc., Cl. A | 32,190 | 490,576 | ||||||
Nash Finch Co. | 48,960 | 1,324,858 | ||||||
Pantry, Inc. (The)1 | 274,211 | 4,551,903 | ||||||
PriceSmart, Inc. | 24,040 | 402,670 | ||||||
Ruddick Corp. | 20,460 | 479,378 | ||||||
Spartan Stores, Inc. | 26,025 | 322,970 | ||||||
SUPERVALU, Inc. | 1,370 | 17,742 | ||||||
United Natural Foods, Inc.1 | 4,950 | 129,938 | ||||||
Weis Markets, Inc. | 33,150 | 1,111,188 | ||||||
Whole Foods Market, Inc. | 10,080 | 191,318 | ||||||
Winn-Dixie Stores, Inc.1 | 96,608 | 1,211,464 | ||||||
16,936,675 | ||||||||
Food Products—0.9% | ||||||||
Calavo Growers, Inc. | 1,830 | 36,289 | ||||||
Chiquita Brands International, Inc.1 | 395,120 | 4,053,931 | ||||||
ConAgra Foods, Inc. | 2,140 | 40,788 | ||||||
Darling International, Inc.1 | 899,541 | 5,936,971 | ||||||
Del Monte Foods Co. | 164,250 | 1,540,665 | ||||||
Diamond Foods, Inc. | 42,370 | 1,182,123 | ||||||
Fresh Del Monte Produce, Inc.1 | 167,350 | 2,721,111 | ||||||
J&J Snack Foods Corp. | 32,090 | 1,152,031 | ||||||
J.M. Smucker Co. (The) | 6,780 | 329,915 | ||||||
Lancaster Colony Corp. | 35,390 | 1,559,637 | ||||||
Omega Protein Corp.1 | 194,408 | 789,296 | ||||||
Ralcorp Holdings, Inc.1 | 76,410 | 4,654,897 | ||||||
Sanderson Farms, Inc. | 9,120 | 410,400 | ||||||
Smart Balance, Inc.1 | 17,450 | 118,835 | ||||||
Smithfield Foods, Inc.1 | 106,360 | 1,485,849 | ||||||
TreeHouse Foods, Inc.1 | 118,680 | 3,414,424 | ||||||
29,427,162 | ||||||||
Household Products—0.2% | ||||||||
Central Garden & Pet Co., Cl. A1 | 483,606 | 4,763,519 | ||||||
WD-40 Co. | 50,065 | 1,451,885 | ||||||
6,215,404 | ||||||||
Personal Products—0.8% | ||||||||
American Oriental Bioengineering, Inc.1 | 775,100 | 4,100,279 | ||||||
Bare Escentuals, Inc.1 | 145,210 | 1,288,013 | ||||||
Chattem, Inc.1 | 9,800 | 667,380 | ||||||
Elizabeth Arden, Inc.1 | 118,708 | 1,036,321 | ||||||
Herbalife Ltd. | 317,548 | 10,015,464 | ||||||
Inter Parfums, Inc. | 148,250 | 1,088,155 | ||||||
NBTY, Inc.1 | 227,213 | 6,389,230 | ||||||
Nu Skin Asia Pacific, Inc., Cl. A | 128,786 | 1,970,426 | ||||||
Prestige Brands Holdings, Inc.1 | 243,633 | 1,498,343 | ||||||
28,053,611 |
F5 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Tobacco—0.2% | ||||||||
Alliance One International, Inc.1 | 30,060 | $ | 114,228 | |||||
Universal Corp. | 175,999 | 5,827,327 | ||||||
5,941,555 | ||||||||
Energy—5.7% | ||||||||
Energy Equipment & Services—3.8% | ||||||||
Allis-Chalmers Energy, Inc.1 | 188,551 | 435,553 | ||||||
Basic Energy Services, Inc.1 | 245,080 | 1,673,896 | ||||||
Bristow Group, Inc.1 | 52,450 | 1,554,094 | ||||||
Bronco Drilling Co., Inc.1 | 94,388 | 403,981 | ||||||
Cal Dive International, Inc.1 | 79,800 | 688,674 | ||||||
Complete Production Services, Inc.1 | 564,782 | 3,592,014 | ||||||
Dawson Geophysical Co.1 | 58,810 | 1,755,479 | ||||||
Dresser-Rand Group, Inc.1 | 89,400 | 2,333,340 | ||||||
Dril-Quip, Inc.1 | 216,383 | 8,244,192 | ||||||
ENGlobal Corp.1 | 194,500 | 956,940 | ||||||
Exterran Holdings, Inc.1 | 419,905 | 6,735,276 | ||||||
Forbes Energy Services Ltd., Legend Shares1,2 | 575,300 | 568,796 | ||||||
Global Industries Ltd.1 | 724,180 | 4,098,859 | ||||||
Gulf Island Fabrication, Inc. | 174,326 | 2,759,581 | ||||||
Gulfmark Offshore, Inc.1 | 208,710 | 5,760,396 | ||||||
Helix Energy Solutions Group, Inc.1 | 766,170 | 8,328,268 | ||||||
Helmerich & Payne, Inc. | 21,420 | 661,235 | ||||||
Hercules Offshore, Inc.1 | 51,780 | 205,567 | ||||||
Hornbeck Offshore Services, Inc.1 | 47,390 | 1,013,672 | ||||||
Key Energy Services, Inc.1 | 1,131,485 | 6,517,354 | ||||||
Lufkin Industries, Inc. | 7,750 | 325,888 | ||||||
Matrix Service Co.1 | 226,901 | 2,604,823 | ||||||
NATCO Group, Inc., Cl. A1 | 94,538 | 3,112,191 | ||||||
Natural Gas Services Group1 | 81,160 | 1,079,428 | ||||||
Newpark Resources, Inc.1 | 575,159 | 1,639,203 | ||||||
North American Energy Partners, Inc.1 | 93,470 | 569,232 | ||||||
Oceaneering International, Inc.1 | 7,520 | 339,904 | ||||||
Oil States International, Inc.1 | 383,473 | 9,283,881 | ||||||
Parker Drilling Co.1 | 1,048,268 | 4,549,483 | ||||||
Patterson-UTI Energy, Inc. | 156,200 | 2,008,732 | ||||||
Pioneer Drilling Co.1 | 237,450 | 1,137,386 | ||||||
Precision Drilling Trust | 994,342 | 4,852,389 | ||||||
RPC, Inc. | 60,310 | 503,589 | ||||||
Seacor Holdings, Inc.1 | 127,520 | 9,594,605 | ||||||
Superior Energy Services, Inc.1 | 380,872 | 6,577,659 | ||||||
T-3 Energy Services, Inc.1 | 126,981 | 1,512,344 | ||||||
Tetra Technologies, Inc.1 | 751,909 | 5,985,196 | ||||||
Tidewater, Inc. | 45,815 | 1,964,089 | ||||||
Union Drilling, Inc.1 | 161,430 | 1,068,667 | ||||||
Unit Corp.1 | 99,410 | 2,740,734 | ||||||
Willbros Group, Inc.1 | 400,471 | 5,009,892 | ||||||
124,746,482 | ||||||||
Oil, Gas & Consumable Fuels—1.9% | ||||||||
Abraxas Petroleum Corp.1 | 42,860 | 40,717 | ||||||
Arena Resources, Inc.1 | 2,610 | 83,129 | ||||||
Atlas America, Inc. | 13,860 | 247,678 | ||||||
ATP Oil & Gas Corp.1 | 289,810 | 2,017,078 | ||||||
Berry Petroleum Co., Cl. A | 249,570 | 4,639,506 | ||||||
Bill Barrett Corp.1 | 18,520 | 508,559 |
F6 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Oil, Gas & Consumable Fuels Continued | ||||||||
Brigham Exploration Co.1 | 215,190 | $ | 751,013 | |||||
Callon Petroleum Co.1 | 29,177 | 57,770 | ||||||
Cimarex Energy Co. | 74,312 | 2,106,002 | ||||||
Clean Energy Fuels Corp.1 | 75,920 | 653,671 | ||||||
Comstock Resources, Inc.1 | 52,450 | 1,733,473 | ||||||
Contango Oil & Gas Co.1 | 42,370 | 1,800,301 | ||||||
Crosstex Energy, Inc. | 165,320 | 687,731 | ||||||
CVR Energy, Inc.1 | 497,735 | 3,648,398 | ||||||
Delek US Holdings, Inc. | 273,641 | 2,320,476 | ||||||
Denbury Resources, Inc.1 | 133,990 | 1,973,673 | ||||||
Encore Acquisition Co.1 | 65,107 | 2,008,551 | ||||||
EXCO Resources, Inc.1 | 1,230 | 15,892 | ||||||
Frontier Oil Corp. | 213,250 | 2,795,708 | ||||||
Gasco Energy, Inc.1 | 366,800 | 102,704 | ||||||
General Maritime Corp. | 105,994 | 1,048,281 | ||||||
GeoResources, Inc.1 | 37,626 | 383,785 | ||||||
Holly Corp. | 82,866 | 1,489,931 | ||||||
International Coal Group, Inc.1 | 202,710 | 579,751 | ||||||
James River Coal Co.1 | 40,910 | 618,968 | ||||||
Knightsbridge Tankers Ltd. | 94,800 | 1,293,072 | ||||||
Mariner Energy, Inc.1 | 429,340 | 5,044,745 | ||||||
MarkWest Energy Partners LP | 34,182 | 622,112 | ||||||
McMoRan Exploration Co.1 | 20,268 | 120,797 | ||||||
Meridian Resource Corp. (The)1 | 39,940 | 13,979 | ||||||
Nordic American Tanker Shipping Ltd. | 10,860 | 345,565 | ||||||
Oilsands Quest, Inc.1 | 75,240 | 72,230 | ||||||
Penn Virginia Corp. | 88,650 | 1,451,201 | ||||||
PetroQuest Energy, Inc.1 | 8,603 | 31,745 | ||||||
Rentech, Inc.1 | 1,460 | 832 | ||||||
Rosetta Resources, Inc.1 | 467,060 | 4,086,775 | ||||||
Southern Union Co. | 2,340 | 43,033 | ||||||
St. Mary Land & Exploration Co. | 20,160 | 420,739 | ||||||
Stone Energy Corp.1 | 115,884 | 859,859 | ||||||
Swift Energy Co.1 | 94,275 | 1,569,679 | ||||||
Teekay Corp. | 52,450 | 1,103,024 | ||||||
Teekay Tankers Ltd., Cl. A | 56,020 | 520,426 | ||||||
Tesoro Corp. | 124,086 | 1,579,615 | ||||||
USEC, Inc.1 | 597,370 | 3,178,008 | ||||||
VAALCO Energy, Inc.1 | 567,110 | 2,398,875 | ||||||
W&T Offshore, Inc. | 178,500 | 1,738,590 | ||||||
Western Refining, Inc.1 | 524,255 | 3,701,240 | ||||||
Westmoreland Coal Co.1 | 11,050 | 89,505 | ||||||
Whiting Petroleum Corp.1 | 25,500 | 896,580 | ||||||
World Fuel Services Corp. | 16,580 | 683,593 | ||||||
64,178,565 | ||||||||
Financials—14.3% | ||||||||
Capital Markets—1.3% | ||||||||
Ameriprise Financial, Inc. | 1,580 | 38,347 | ||||||
BGC Partners, Inc., Cl. A | 8,730 | 33,087 | ||||||
Cohen & Steers, Inc. | 106,690 | 1,595,016 | ||||||
Eaton Vance Corp. | 2,990 | 79,983 | ||||||
Evercore Partners, Inc., Cl. A | 42,470 | 834,111 | ||||||
GAMCO Investors, Inc., Cl. A | 36,322 | 1,761,617 | ||||||
GFI Group, Inc. | 300,866 | 2,027,837 | ||||||
Greenhill & Co., Inc. | 19,680 | 1,421,093 | ||||||
Investment Technology Group, Inc.1 | 92,110 | 1,878,123 |
F7 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Capital Markets Continued | ||||||||
Janus Capital Group, Inc. | 387,200 | $ | 4,414,080 | |||||
KBW, Inc.1 | 20,840 | 599,358 | ||||||
Knight Capital Group, Inc., Cl. A1 | 350,269 | 5,972,086 | ||||||
LaBranche & Co., Inc.1 | 791,644 | 3,404,069 | ||||||
MF Global Ltd.1 | 519,782 | 3,082,307 | ||||||
Penson Worldwide, Inc.1 | 191,385 | 1,712,896 | ||||||
Piper Jaffray Cos., Inc.1 | 25,653 | 1,120,267 | ||||||
Sanders Morris Harris Group, Inc. | 24,223 | 133,227 | ||||||
SEI Investments Co. | 1,730 | 31,209 | ||||||
Stifel Financial Corp.1 | 52,980 | 2,547,808 | ||||||
SWS Group, Inc. | 254,724 | 3,558,494 | ||||||
Teton Advisors, Inc.1,3 | 678 | 2,136 | ||||||
Thomas Weisel Partners Group, Inc.1 | 25,690 | 154,654 | ||||||
Tradestation Group, Inc.1 | 59,959 | 507,253 | ||||||
U.S. Global Investors, Inc., Cl. A | 3,830 | 35,466 | ||||||
Virtus Investment Partners, Inc.1 | 20,760 | 304,964 | ||||||
W.P. Carey & Co. LLC | 2,610 | 65,198 | ||||||
Waddell & Reed Financial, Inc., Cl. A | 189,420 | 4,995,005 | ||||||
42,309,691 | ||||||||
Commercial Banks—1.8% | ||||||||
1st Source Corp. | 2,308 | 39,859 | ||||||
Amcore Financial, Inc. | 7,170 | 5,879 | ||||||
BancFirst Corp. | 11,730 | 405,623 | ||||||
Banco Macro SA, ADR1 | 17,300 | 280,087 | ||||||
Boston Private Financial Holdings, Inc. | 138,554 | 620,722 | ||||||
CapitalSource, Inc. | 825,800 | 4,029,904 | ||||||
Capitol Bancorp Ltd. | 4,732 | 12,540 | ||||||
Cathay Bancorp, Inc. | 137,247 | 1,305,219 | ||||||
Central Pacific Financial Corp. | 251,120 | 941,700 | ||||||
Chemical Financial Corp. | 40,330 | 802,970 | ||||||
City Holding Co. | 105,980 | 3,217,553 | ||||||
CoBiz Financial, Inc. | 50,130 | 321,333 | ||||||
Columbia Banking System, Inc. | 49,969 | 511,183 | ||||||
Community Bank System, Inc. | 130,510 | 1,900,226 | ||||||
Community Trust Bancorp, Inc. | 57,490 | 1,537,858 | ||||||
East West Bancorp, Inc. | 273,705 | 1,776,345 | ||||||
Encore Bancshares, Inc.1 | 46,930 | 340,243 | ||||||
F.N.B. Corp. | 36,450 | 225,626 | ||||||
First BanCorp | 44,500 | 175,775 | ||||||
First Citizens BancShares, Inc., Cl. A | 7,260 | 970,299 | ||||||
First Community Bancshares, Inc. | 30,449 | 390,965 | ||||||
First Financial Bancorp | 41,880 | 314,938 | ||||||
First Financial Corp. | 1,460 | 46,107 | ||||||
First Merchants Corp. | 85,900 | 689,777 | ||||||
First Midwest Bancorp, Inc. | 127,598 | 932,741 | ||||||
FirstMerit Corp. | 109,168 | 1,853,673 | ||||||
Frontier Financial Corp.4 | 130,150 | 157,482 | ||||||
Glacier Bancorp, Inc. | 47,220 | 697,439 | ||||||
Greene Bankshares, Inc. | 32,289 | 144,655 | ||||||
Guaranty Bancorp1 | 59,920 | 114,447 | ||||||
Hancock Holding Co. | 8,140 | 264,469 | ||||||
Hanmi Financial Corp. | 25,660 | 44,905 | ||||||
IBERIABANK Corp. | 3,991 | 157,285 | ||||||
Independent Bank Corp. | 15,894 | 313,112 | ||||||
International Bancshares Corp. | 97,624 | 1,006,503 | ||||||
MainSource Financial Group, Inc. | 45,660 | 338,797 | ||||||
MB Financial, Inc. | 51,590 | 525,702 |
F8 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Commercial Banks Continued | ||||||||
National Penn Bancshares, Inc. | 303,490 | $ | 1,399,089 | |||||
NBT Bancorp, Inc. | 27,920 | 606,143 | ||||||
Old National Bancorp | 166,870 | 1,638,663 | ||||||
Old Second Bancorp, Inc. | 1,170 | 6,903 | ||||||
Oriental Financial Group, Inc. | 109,137 | 1,058,629 | ||||||
Pacific Capital Bancorp | 442,710 | 947,399 | ||||||
PacWest Bancorp | 175,400 | 2,308,264 | ||||||
Park National Corp. | 3,390 | 191,467 | ||||||
Popular, Inc. | 817,639 | 1,798,806 | ||||||
Prosperity Bancshares, Inc. | 37,040 | 1,104,903 | ||||||
Renasant Corp. | 21,140 | 317,523 | ||||||
Republic Bancorp, Inc., Cl. A | 36,350 | 821,147 | ||||||
Sandy Spring Bancorp, Inc. | 37,891 | 556,998 | ||||||
Santander BanCorp1 | 26,414 | 183,841 | ||||||
Signature Bank1 | �� | 18,420 | 499,550 | |||||
Simmons First National Corp. | 37,471 | 1,001,225 | ||||||
South Financial Group, Inc. (The) | 89,750 | 106,803 | ||||||
Southside Bancshares, Inc. | 35,050 | 801,594 | ||||||
Sterling Bancorp | 145,640 | 1,216,094 | ||||||
Sterling Bancshares, Inc. | 52,450 | 332,009 | ||||||
Susquehanna Bancshares, Inc. | 245,310 | 1,199,566 | ||||||
TCF Financial Corp. | 24,876 | 332,592 | ||||||
Tompkins Financial Corp. | 30,930 | 1,483,094 | ||||||
TowneBank | 27,820 | 389,480 | ||||||
Trustmark Corp. | 50,900 | 983,388 | ||||||
UMB Financial Corp. | 37,130 | 1,411,311 | ||||||
Umpqua Holdings Corp. | 159,032 | 1,234,088 | ||||||
United Bankshares, Inc. | 38,200 | 746,428 | ||||||
United Community Banks, Inc.1 | 157,921 | 945,947 | ||||||
Webster Financial Corp. | 15,807 | 127,246 | ||||||
WesBanco, Inc. | 58,728 | 853,905 | ||||||
West Coast Bancorp | 14,630 | 29,845 | ||||||
Westamerica Bancorp | 37,230 | 1,846,980 | ||||||
Western Alliance Bancorp1 | 80,553 | 550,983 | ||||||
Whitney Holding Corp. | 113,540 | 1,040,026 | ||||||
Wintrust Financial Corp. | 81,338 | 1,307,915 | ||||||
Zions Bancorp | 37,910 | 438,240 | ||||||
59,232,025 | ||||||||
Consumer Finance—0.9% | ||||||||
Advance America Cash Advance Centers, Inc. | 30,390 | 134,628 | ||||||
Advanta Corp., Cl. B | 135,070 | 56,729 | ||||||
AmeriCredit Corp.1 | 688,202 | 9,325,137 | ||||||
Cash America International, Inc. | 337,985 | 7,905,469 | ||||||
Discover Financial Services | 166,090 | 1,705,744 | ||||||
Dollar Financial Corp.1 | 86,440 | 1,192,008 | ||||||
EZCORP, Inc., Cl. A1 | 56,189 | 605,717 | ||||||
First Cash Financial Services, Inc.1 | 106,838 | 1,871,802 | ||||||
First Marblehead Corp. (The)1 | 102,749 | 207,553 | ||||||
Nelnet, Inc., Cl. A1 | 124,971 | 1,698,356 | ||||||
Student Loan Corp. (The) | 23,540 | 875,688 | ||||||
World Acceptance Corp.1 | 259,067 | 5,158,024 | ||||||
30,736,855 | ||||||||
Diversified Financial Services—1.0% | ||||||||
CIT Group, Inc. | 1,095,215 | 2,354,712 | ||||||
Encore Capital Group, Inc.1 | 69,485 | 920,676 | ||||||
Financial Federal Corp. | 103,740 | 2,131,857 | ||||||
Life Partners Holdings, Inc. | 73,983 | 1,049,079 | ||||||
MarketAxess Holdings, Inc.1 | 62,595 | 596,530 | ||||||
MSCI, Inc., Cl. A1 | 617,600 | 15,094,144 | ||||||
NewStar Financial, Inc.1 | 11,730 | 22,404 | ||||||
PHH Corp.1 | 452,487 | 8,226,214 |
F9 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Diversified Financial Services Continued | ||||||||
Pico Holdings, Inc.1 | 25,790 | $ | 740,173 | |||||
Portfolio Recovery Associates, Inc.1 | 19,630 | 760,270 | ||||||
31,896,059 | ||||||||
Insurance—4.9% | ||||||||
Alleghany Corp.1 | 3,508 | 950,668 | ||||||
Allied World Assurance Holdings Ltd. | 123,203 | 5,030,378 | ||||||
American Equity Investment Life Holding Co. | 501,085 | 2,796,054 | ||||||
American Financial Group, Inc. | 42,007 | 906,511 | ||||||
American National Insurance Co. | 9,478 | 716,347 | ||||||
American Physicians Capital, Inc. | 78,953 | 3,091,799 | ||||||
Amerisafe, Inc.1 | 272,195 | 4,235,354 | ||||||
AmTrust Financial Services, Inc. | 336,594 | 3,837,172 | ||||||
Argo Group International Holdings Ltd.1 | 25,790 | 727,794 | ||||||
Aspen Insurance Holdings Ltd. | 351,125 | 7,844,133 | ||||||
Assurant, Inc. | 79,120 | 1,906,001 | ||||||
Assured Guaranty Ltd. | 424,327 | 5,253,168 | ||||||
CNA Financial Corp. | 59,117 | 914,540 | ||||||
CNA Surety Corp.1 | 234,142 | 3,158,576 | ||||||
Conseco, Inc.1 | 1,144,500 | 2,712,465 | ||||||
Crawford & Co.1 | 13,530 | 64,944 | ||||||
Delphi Financial Group, Inc., Cl. A | 381,610 | 7,414,682 | ||||||
eHealth, Inc.1 | 14,570 | 257,306 | ||||||
EMC Insurance Group, Inc. | 4,106 | 85,446 | ||||||
Employers Holdings, Inc. | 181,900 | 2,464,745 | ||||||
Endurance Specialty Holdings Ltd. | 175,193 | 5,133,155 | ||||||
Enstar Group Ltd.1 | 3,800 | 223,630 | ||||||
FBL Financial Group, Inc., Cl. A | 120,056 | 991,663 | ||||||
Fidelity National Financial, Inc., Cl. A | 1,680 | 22,730 | ||||||
First American Corp. | 12,890 | 333,980 | ||||||
First Mercury Financial Corp. | 52,978 | 729,507 | ||||||
FPIC Insurance Group, Inc.1 | 82,556 | 2,527,865 | ||||||
Gallagher (Arthur J.) & Co. | 990 | 21,127 | ||||||
Genworth Financial, Inc., Cl. A | 8,800 | 61,512 | ||||||
Greenlight Capital Re Ltd., Cl. A1 | 15,990 | 276,787 | ||||||
Hallmark Financial Services, Inc.1 | 34,090 | 243,744 | ||||||
Hanover Insurance Group, Inc. | 116,432 | 4,437,224 | ||||||
Harleysville Group, Inc. | 52,974 | 1,494,926 | ||||||
Hilltop Holdings, Inc.1 | 33,260 | 394,796 | ||||||
Horace Mann Educators Corp. | 302,537 | 3,016,294 | ||||||
Infinity Property & Casualty Corp. | 129,589 | 4,724,815 | ||||||
IPC Holdings Ltd. | 247,240 | 6,759,542 | ||||||
Lincoln National Corp. | 50,900 | 875,989 | ||||||
Maiden Holdings Ltd. | 16,680 | 109,421 | ||||||
Max Capital Group Ltd. | 531,821 | 9,817,416 | ||||||
Meadowbrook Insurance Group, Inc. | 145,530 | 950,311 | ||||||
Mercury General Corp. | 17,260 | 577,002 | ||||||
Montpelier Re Holdings Ltd. | 103,160 | 1,370,996 | ||||||
National Financial Partners Corp. | 98,600 | 721,752 | ||||||
National Interstate Corp. | 50,070 | 760,063 | ||||||
National Western Life Insurance Co., Cl. A | 1,510 | 176,293 | ||||||
Navigators Group, Inc. (The)1 | 57,590 | 2,558,724 |
F10 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Insurance Continued | ||||||||
NYMAGIC, Inc. | 719 | $ | 9,980 | |||||
Odyssey Re Holdings Corp. | 70,823 | 2,831,504 | ||||||
Old Republic International Corp. | 64,010 | 630,499 | ||||||
OneBeacon Insurance Group Ltd. | 179,780 | 2,101,628 | ||||||
Phoenix Cos., Inc. (The)1 | 282,350 | 471,525 | ||||||
Platinum Underwriters Holdings Ltd. | 213,120 | 6,093,101 | ||||||
PMA Capital Corp., Cl. A1 | 69,320 | 315,406 | ||||||
Presidential Life Corp. | 56,027 | 424,124 | ||||||
ProAssurance Corp.1 | 131,615 | 6,081,929 | ||||||
Protective Life Corp. | 674,410 | 7,715,250 | ||||||
RLI Corp. | 23,960 | 1,073,408 | ||||||
Safety Insurance Group, Inc. | 117,636 | 3,594,956 | ||||||
Seabright Insurance Holdings, Inc.1 | 129,237 | 1,309,171 | ||||||
Selective Insurance Group, Inc. | 215,869 | 2,756,647 | ||||||
StanCorp Financial Group, Inc. | 249,319 | 7,150,469 | ||||||
State Auto Financial Corp. | 25,110 | 439,425 | ||||||
Stewart Information Services Corp. | 84,974 | 1,210,880 | ||||||
Tower Group, Inc. | 15,220 | 377,152 | ||||||
Transatlantic Holdings, Inc. | 4,120 | 178,520 | ||||||
United America Indemnity Ltd., Cl. A1 | 308,984 | 1,480,033 | ||||||
United Fire & Casualty Co. | 27,404 | 469,979 | ||||||
Unitrin, Inc. | 342,650 | 4,118,653 | ||||||
UnumProvident Corp. | 125,180 | 1,985,355 | ||||||
Validus Holdings Ltd. | 212,153 | 4,663,123 | ||||||
White Mountains Insurance Group Ltd. | 2,810 | 643,237 | ||||||
161,805,301 | ||||||||
Real Estate Investment Trusts—3.5% | ||||||||
Acadia Realty Trust | 43,693 | 570,194 | ||||||
Agree Realty Corp. | 51,250 | 939,413 | ||||||
Alexander’s, Inc. | 1,510 | 407,096 | ||||||
Alexandria Real Estate Equities, Inc. | 57,980 | 2,075,104 | ||||||
American Campus Communities, Inc. | 42,760 | 948,417 | ||||||
American Capital Agency Corp. | 86,286 | 1,981,989 | ||||||
Arbor Realty Trust, Inc. | 6,880 | 12,040 | ||||||
Ashford Hospitality Trust | 222,620 | 625,562 | ||||||
Associated Estates Realty Corp. | 30,540 | 182,018 | ||||||
BioMed Realty Trust, Inc. | 225,710 | 2,309,013 | ||||||
Capital Lease Funding, Inc. | 64,760 | 178,738 | ||||||
Capstead Mortgage Corp. | 105,000 | 1,334,550 | ||||||
CBL & Associates Properties, Inc. | 6,664 | 35,919 | ||||||
Cedar Shopping Centers, Inc. | 55,850 | 252,442 | ||||||
Colonial Properties Trust | 51,780 | 383,172 | ||||||
Corporate Office Properties Trust | 150,943 | 4,427,158 | ||||||
DCT Industrial Trust, Inc. | 186,740 | 761,899 | ||||||
DiamondRock Hospitality Co. | 317,340 | 1,986,548 | ||||||
Digital Realty Trust, Inc. | 89,962 | 3,225,138 | ||||||
EastGroup Properties, Inc. | 94,450 | 3,118,739 | ||||||
Entertainment Properties Trust | 166,640 | 3,432,784 | ||||||
Equity Lifestyle Properties, Inc. | 76,498 | 2,844,196 | ||||||
Equity One, Inc. | 19,490 | 258,437 | ||||||
Essex Property Trust, Inc. | 40,439 | 2,516,519 |
F11 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Real Estate Investment Trusts Continued | ||||||||
Extra Space Storage, Inc. | 379,020 | $ | 3,164,817 | |||||
FelCor Lodging Trust, Inc. | 336,150 | 826,929 | ||||||
First Industrial Realty Trust, Inc. | 143,990 | 626,357 | ||||||
First Potomac Realty Trust | 25,990 | 253,403 | ||||||
Getty Realty Corp. | 15,998 | 301,882 | ||||||
Glimcher Realty Trust | 25,890 | 75,081 | ||||||
Hatteras Financial Corp. | 104,900 | 2,999,091 | ||||||
Healthcare Realty Trust, Inc. | 194,310 | 3,270,237 | ||||||
Hersha Hospitality Trust | 55,270 | 137,070 | ||||||
Highwoods Properties, Inc. | 171,810 | 3,843,390 | ||||||
Home Properties of New York, Inc. | 174,865 | 5,962,897 | ||||||
Inland Real Estate Corp. | 227,660 | 1,593,620 | ||||||
Investors Real Estate Trust | 22,560 | 200,558 | ||||||
Kite Realty Group Trust | 96,090 | 280,583 | ||||||
LaSalle Hotel Properties | 112,660 | 1,390,224 | ||||||
Lexington Realty Trust | 212,507 | 722,524 | ||||||
Liberty Property Trust | 87,709 | 2,020,815 | ||||||
LTC Properties, Inc. | 99,150 | 2,027,618 | ||||||
Medical Properties Trust, Inc. | 317,150 | 1,925,101 | ||||||
Mid-America Apartment Communities, Inc. | 207,204 | 7,606,458 | ||||||
National Health Investors, Inc. | 61,622 | 1,645,924 | ||||||
National Retail Properties, Inc. | 293,360 | 5,089,796 | ||||||
Nationwide Health Properties, Inc. | 31,460 | 809,780 | ||||||
Omega Healthcare Investors, Inc. | 212,449 | 3,297,208 | ||||||
Parkway Properties, Inc. | 99,480 | 1,293,240 | ||||||
Pennsylvania Real Estate Investment Trust | 98,990 | 494,950 | ||||||
Post Properties, Inc. | 26,280 | 353,203 | ||||||
Potlatch Corp. | 74,960 | 1,820,778 | ||||||
PS Business Parks, Inc. | 55,597 | 2,693,119 | ||||||
Ramco-Gershenson Properties Trust | 40,140 | 401,801 | ||||||
Realty Income Corp. | 151,481 | 3,320,463 | ||||||
Redwood Trust, Inc. | 60,980 | 900,065 | ||||||
Saul Centers, Inc. | 16,380 | 484,357 | ||||||
Senior Housing Properties Trust | 333,730 | 5,446,474 | ||||||
SL Green Realty Corp. | 171,330 | 3,930,310 | ||||||
Sovran Self Storage, Inc. | 82,990 | 2,041,554 | ||||||
Strategic Hotels & Resorts, Inc. | 209,040 | 232,034 | ||||||
Sunstone Hotel Investors, Inc. | 151,431 | 810,156 | ||||||
Tanger Factory Outlet Centers, Inc. | 84,240 | 2,731,903 | ||||||
Taubman Centers, Inc. | 103,124 | 2,769,911 | ||||||
Universal Health Realty Income Trust | 10,408 | 328,060 | ||||||
Urstadt Biddle Properties, Inc., Cl. A | 45,690 | 643,315 | ||||||
Walter Investment Management Corp.1 | 15,909 | 211,272 | ||||||
Washington Real Estate Investment Trust | 97,350 | 2,177,720 | ||||||
117,963,133 | ||||||||
Real Estate Management & Development—0.1% | ||||||||
Avatar Holdings, Inc.1 | 10,761 | 195,527 | ||||||
Consolidated-Tomoka Land Co. | 2,220 | 77,878 | ||||||
Forest City Enterprises, Inc., Cl. A | 187,043 | 1,234,484 | ||||||
Forestar Group, Inc.1 | 161,198 | 1,915,032 | ||||||
Jones Lang LaSalle, Inc. | 25,500 | 834,615 | ||||||
Tejon Ranch Co.1 | 5,920 | 156,821 | ||||||
4,414,357 |
F12 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Thrifts & Mortgage Finance—0.8% | ||||||||
Anchor BanCorp Wisconsin, Inc. | 6,690 | $ | 8,697 | |||||
Bank Mutual Corp. | 120,130 | 1,047,534 | ||||||
Dime Community Bancshares, Inc. | 227,950 | 2,076,625 | ||||||
First Niagara Financial Group, Inc. | 189,750 | 2,166,945 | ||||||
First Place Financial Corp. | 24,330 | 75,666 | ||||||
Flushing Financial Corp. | 116,640 | 1,090,584 | ||||||
Hudson City Bancorp, Inc. | 2,920 | 38,807 | ||||||
MGIC Investment Corp. | 234,941 | 1,033,740 | ||||||
NewAlliance Bancshares, Inc. | 494,350 | 5,685,025 | ||||||
OceanFirst Financial Corp. | 21,230 | 254,123 | ||||||
Ocwen Financial Corp.1 | 523,054 | 6,784,010 | ||||||
PMI Group, Inc. (The) | 318,310 | 630,254 | ||||||
Provident Financial Services, Inc. | 305,610 | 2,781,051 | ||||||
Provident New York Bancorp | 133,220 | 1,081,746 | ||||||
Radian Group, Inc. | 385,410 | 1,048,315 | ||||||
TierOne Corp.1 | 37,620 | 77,497 | ||||||
Tree.com, Inc.1 | 3,956 | 37,978 | ||||||
Trustco Bank Corp. NY | 55,070 | 325,464 | ||||||
United Financial Bancorp., Inc. | 100,224 | 1,385,096 | ||||||
WSFS Financial Corp. | 19,100 | 521,621 | ||||||
28,150,778 | ||||||||
Health Care—10.5% | ||||||||
Biotechnology—2.1% | ||||||||
Abraxis BioScience, Inc.1 | 1,930 | 71,140 | ||||||
Acorda Therapeutics, Inc.1 | 72,330 | 2,038,983 | ||||||
Alexion Pharmaceuticals, Inc.1 | 121,780 | 5,007,594 | ||||||
Allos Therapeutics, Inc.1 | 177,530 | 1,471,724 | ||||||
Alnylam Pharmaceuticals, Inc.1 | 43,250 | 963,178 | ||||||
Anadys Pharmaceuticals, Inc.1 | 61,180 | 113,795 | ||||||
ArQule, Inc.1 | 74,267 | 455,999 | ||||||
Array BioPharma, Inc.1 | 85,535 | 268,580 | ||||||
Celldex Therapeutics, Inc.1 | 49,453 | 386,722 | ||||||
Cepheid, Inc.1 | 32,480 | 305,962 | ||||||
Cougar Biotechnology, Inc.1 | 6,200 | 266,352 | ||||||
Cubist Pharmaceuticals, Inc.1 | 245,300 | 4,496,349 | ||||||
Dendreon Corp.1 | 1,430 | 35,536 | ||||||
Emergent Biosolutions, Inc.1 | 167,350 | 2,398,126 | ||||||
Enzon Pharmaceuticals, Inc.1 | 301,607 | 2,373,647 | ||||||
Facet Biotech Corp.1 | 113,431 | 1,053,774 | ||||||
Genomic Health, Inc.1 | 6,200 | 107,446 | ||||||
Geron Corp.1 | 266,920 | 2,047,276 | ||||||
GTx, Inc.1 | 39,940 | 368,646 | ||||||
Human Genome Sciences, Inc.1 | 186,160 | 532,418 | ||||||
ImmunoGen, Inc.1 | 1,070 | 9,213 | ||||||
Incyte Corp.1 | 229,530 | 755,154 | ||||||
Indevus Pharmaceuticals, Inc.1,3 | 14,100 | 141 | ||||||
InterMune, Inc.1 | 41,210 | 626,392 | ||||||
Isis Pharmaceuticals, Inc.1 | 100,640 | 1,660,560 | ||||||
Ligand Pharmaceuticals, Inc., Cl. B1 | 172,880 | 494,437 | ||||||
MannKind Corp.1 | 53,230 | 442,341 | ||||||
Martek Biosciences Corp. | 288,892 | 6,110,066 | ||||||
Medivation, Inc.1 | 118,970 | 2,666,118 | ||||||
Momenta Pharmaceuticals, Inc.1 | 226,980 | 2,730,569 | ||||||
Myriad Pharmaceuticals, Inc.1 | 47,342 | 220,140 | ||||||
Nabi Biopharmaceuticals, Inc.1 | 53,862 | 130,346 |
F13 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Biotechnology Continued | ||||||||
NPS Pharmaceuticals, Inc.1 | 8,505 | $ | 39,633 | |||||
Onyx Pharmaceuticals, Inc.1 | 33,740 | 953,492 | ||||||
OSI Pharmaceuticals, Inc.1 | 110,150 | 3,109,535 | ||||||
Osiris Therapeutics, Inc.1 | 46,350 | 622,481 | ||||||
PDL BioPharma, Inc. | 544,109 | 4,298,461 | ||||||
Progenics Pharmaceuticals, Inc.1 | 98,990 | 509,799 | ||||||
Protalix Bio Therapeutics, Inc.1 | 2,810 | 12,701 | ||||||
Rigel Pharmaceuticals, Inc.1 | 118,493 | 1,436,135 | ||||||
RXi Pharmaceuticals Corp.1 | 21,330 | 96,838 | ||||||
Sangamo BioSciences, Inc.1 | 41,400 | 204,516 | ||||||
Savient Pharmaceuticals, Inc.1 | 982,860 | 13,622,440 | ||||||
Theravance, Inc.1 | 97,930 | 1,433,695 | ||||||
United Therapeutics Corp.1 | 24,330 | 2,027,419 | ||||||
ZymoGenetics, Inc.1 | 130,020 | 598,092 | ||||||
69,573,961 | ||||||||
Health Care Equipment & Supplies—2.5% | ||||||||
Abaxis, Inc.1 | 53,520 | 1,099,301 | ||||||
Align Technology, Inc.1 | 55,850 | 592,010 | ||||||
American Medical Systems Holdings, Inc.1 | 118,660 | 1,874,828 | ||||||
Analogic Corp. | 161,050 | 5,950,798 | ||||||
AngioDynamics, Inc.1 | 57,490 | 762,892 | ||||||
Atrion Corp. | 2,000 | 268,180 | ||||||
Cantel Medical Corp.1 | 20,900 | 339,207 | ||||||
Cardiac Science Corp.1 | 7,560 | 30,391 | ||||||
ConMed Corp.1 | 90,560 | 1,405,491 | ||||||
Cooper Cos., Inc. (The) | 129,630 | 3,205,750 | ||||||
CryoLife, Inc.1 | 266,500 | 1,476,410 | ||||||
Cyberonics, Inc.1 | 143,990 | 2,394,554 | ||||||
ev3, Inc.1 | 63,220 | 677,718 | ||||||
Exactech, Inc.1 | 54,864 | 795,528 | ||||||
Greatbatch, Inc.1 | 11,920 | 269,511 | ||||||
Haemonetics Corp.1 | 32,380 | 1,845,660 | ||||||
Hill-Rom Holdings, Inc. | 402,160 | 6,523,035 | ||||||
ICU Medical, Inc.1 | 880 | 36,212 | ||||||
Invacare Corp. | 58,405 | 1,030,848 | ||||||
IRIS International, Inc.1 | 24,630 | 290,634 | ||||||
Kensey Nash Corp.1 | 147,519 | 3,866,473 | ||||||
Kinetic Concepts, Inc.1 | 143,250 | 3,903,563 | ||||||
Masimo Corp.1 | 64,760 | 1,561,364 | ||||||
Merit Medical Systems, Inc.1 | 136,710 | 2,228,373 | ||||||
Natus Medical, Inc.1 | 171,509 | 1,979,214 | ||||||
NuVasive, Inc.1 | 290,760 | 12,967,896 | ||||||
Orthofix International NV1 | 72,110 | 1,803,471 | ||||||
Palomar Medical Technologies, Inc.1 | 31,990 | 468,973 | ||||||
Quidel Corp.1 | 85,900 | 1,250,704 | ||||||
RTI Biologics, Inc.1 | 32,290 | 138,524 | ||||||
Sirona Dental Systems, Inc.1 | 43,770 | 874,962 | ||||||
Somanetics Corp.1 | 92,990 | 1,535,265 | ||||||
SonoSite, Inc.1 | 75,773 | 1,520,006 | ||||||
Steris Corp. | 298,640 | 7,788,531 | ||||||
SurModics, Inc.1 | 26,300 | 595,169 | ||||||
Symmetry Medical, Inc.1 | 54,780 | 510,550 | ||||||
Synovis Life Technologies, Inc.1 | 69,710 | 1,447,877 | ||||||
Thoratec Corp.1 | 84,350 | 2,258,893 | ||||||
Volcano Corp.1 | 95,400 | 1,333,692 | ||||||
West Pharmaceutical Services, Inc. | 13,480 | 469,778 | ||||||
Wright Medical Group, Inc.1 | 85,230 | 1,385,840 | ||||||
Zoll Medical Corp.1 | 166,090 | 3,212,181 | ||||||
83,970,257 |
F14 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Health Care Providers & Services—4.1% | ||||||||
Alliance HealthCare Services, Inc.1 | 122,270 | $ | 896,239 | |||||
Amedisys, Inc.1 | 41,458 | 1,368,943 | ||||||
AMERIGROUP Corp.1 | 239,630 | 6,434,066 | ||||||
AMN Healthcare Services, Inc.1 | 256,751 | 1,638,071 | ||||||
AmSurg Corp.1 | 55,643 | 1,192,986 | ||||||
Brookdale Senior Living, Inc. | 182,493 | 1,777,482 | ||||||
Catalyst Health Solutions, Inc.1 | 48,042 | 1,198,167 | ||||||
Centene Corp.1 | 412,158 | 8,234,917 | ||||||
Chemed Corp. | 145,471 | 5,743,195 | ||||||
Chindex International, Inc.1 | 22,600 | 279,562 | ||||||
CIGNA Corp. | 1,940 | 46,735 | ||||||
Community Health Systems, Inc.1 | 94,719 | 2,391,655 | ||||||
CorVel Corp.1 | 25,530 | 581,318 | ||||||
Coventry Health Care, Inc.1 | 4,280 | 80,079 | ||||||
Cross Country Healthcare, Inc.1 | 66,926 | 459,782 | ||||||
Emergency Medical Services LP, Cl. A1 | 17,100 | 629,622 | ||||||
Enstar Group, Inc. (The) | 5,201 | 74,010 | ||||||
Gentiva Health Services, Inc.1 | 160,800 | 2,646,768 | ||||||
Hanger Orthopedic Group, Inc.1 | 159,010 | 2,160,946 | ||||||
Health Management Associates, Inc., Cl. A1 | 979,118 | 4,836,843 | ||||||
Health Net, Inc.1 | 539,616 | 8,391,029 | ||||||
HEALTHSOUTH Corp.1 | 77,236 | 1,115,288 | ||||||
Healthspring, Inc.1 | 455,723 | 4,949,152 | ||||||
Healthways, Inc.1 | 302,269 | 4,065,518 | ||||||
HMS Holdings Corp.1 | 49,250 | 2,005,460 | ||||||
InVentiv Health, Inc.1 | 290,977 | 3,936,919 | ||||||
Kindred Healthcare, Inc.1 | 388,510 | 4,805,869 | ||||||
Laboratory Corp. of America Holdings1 | 7,660 | 519,271 | ||||||
Landauer, Inc. | 63,610 | 3,901,837 | ||||||
LHC Group, Inc.1 | 105,060 | 2,333,383 | ||||||
LifePoint Hospitals, Inc.1 | 259,923 | 6,822,979 | ||||||
Lincare Holdings, Inc.1 | 268,948 | 6,325,657 | ||||||
Magellan Health Services, Inc.1 | 51,900 | 1,703,358 | ||||||
MedCath Corp.1 | 72,830 | 856,481 | ||||||
MEDNAX, Inc.1 | 131,698 | 5,548,437 | ||||||
Molina Healthcare, Inc.1 | 195,618 | 4,679,183 | ||||||
MWI Veterinary Supply, Inc.1 | 28,990 | 1,010,591 | ||||||
Odyssey Healthcare, Inc.1 | 134,640 | 1,384,099 | ||||||
Owens & Minor, Inc. | 54,880 | 2,404,842 | ||||||
PharMerica Corp.1 | 299,526 | 5,879,695 | ||||||
Providence Service Corp.1 | 14,240 | 155,928 | ||||||
PSS World Medical, Inc.1 | 7,660 | 141,787 | ||||||
RehabCare Group, Inc.1 | 228,277 | 5,462,669 | ||||||
Res-Care, Inc.1 | 108,230 | 1,547,689 | ||||||
Schein (Henry), Inc.1 | 50 | 2,398 | ||||||
Skilled Healthcare Group, Inc., Cl. A1 | 24,330 | 182,475 | ||||||
Sun Healthcare Group, Inc.1 | 205,368 | 1,733,306 | ||||||
Triple-S Management Corp., Cl. B1 | 39,069 | 609,086 | ||||||
U.S. Physical Therapy, Inc.1 | 5,900 | 87,025 | ||||||
Universal American Corp.1 | 232,633 | 2,028,560 | ||||||
Universal Health Services, Inc., Cl. B | 59,157 | 2,889,819 | ||||||
VCA Antech, Inc.1 | 54,569 | 1,456,992 | ||||||
WellCare Health Plans, Inc.1 | 326,873 | 6,043,882 | ||||||
137,652,050 |
F15 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Health Care Technology—0.1% | ||||||||
Computer Programs & Systems, Inc. | 14,333 | $ | 549,097 | |||||
Omnicell, Inc.1 | 80,480 | 865,160 | ||||||
Quality Systems, Inc. | 28,890 | 1,645,574 | ||||||
3,059,831 | ||||||||
Life Sciences Tools & Services—0.7% | ||||||||
Affymetrix, Inc.1 | 42,180 | 250,127 | ||||||
Albany Molecular Research, Inc.1 | 202,450 | 1,698,556 | ||||||
AMAG Pharmaceuticals, Inc.1 | 6,200 | 338,954 | ||||||
Bruker Corp.1 | 47,800 | 442,628 | ||||||
Dionex Corp.1 | 73,910 | 4,510,727 | ||||||
eResearch Technology, Inc.1 | 251,806 | 1,563,715 | ||||||
Exelixis, Inc.1 | 48,860 | 237,948 | ||||||
Kendle International, Inc.1 | 42,370 | 518,609 | ||||||
Life Sciences Research, Inc.1 | 35,420 | 253,961 | ||||||
Luminex Corp.1 | 128,370 | 2,379,980 | ||||||
Nektar Therapeutics1 | 75,738 | 490,782 | ||||||
Parexel International Corp.1 | 294,170 | 4,230,165 | ||||||
Varian, Inc.1 | 166,627 | 6,570,103 | ||||||
23,486,255 | ||||||||
Pharmaceuticals—1.0% | ||||||||
Adolor Corp.1 | 246,080 | 433,101 | ||||||
Akorn, Inc.1 | 2,230 | 2,676 | ||||||
Auxilium Pharmaceuticals, Inc.1 | 89,590 | 2,811,334 | ||||||
BioMimetic Therapeutics, Inc.1 | 8,468 | 78,244 | ||||||
Cadence Pharmaceuticals, Inc.1 | 12,310 | 122,977 | ||||||
CPEX Pharmaceuticals, Inc.1 | 1,500 | 14,985 | ||||||
Cypress Bioscience, Inc.1 | 83,480 | 786,382 | ||||||
Endo Pharmaceuticals Holdings, Inc.1 | 160,366 | 2,873,759 | ||||||
Forest Laboratories, Inc.1 | 1,610 | 40,427 | ||||||
K-V Pharmaceutical Co., Cl. A1 | 55,997 | 179,750 | ||||||
King Pharmaceuticals, Inc.1 | 303,041 | 2,918,285 | ||||||
Medicis Pharmaceutical Corp., Cl. A | 133,896 | 2,185,183 | ||||||
MiddleBrook Pharmaceuticals, Inc.1 | 35,960 | 48,546 | ||||||
Noven Pharmaceuticals, Inc.1 | 256,587 | 3,669,194 | ||||||
Obagi Medical Products, Inc.1 | 6,390 | 46,583 | ||||||
Optimer Pharmaceuticals, Inc.1 | 82,800 | 1,239,516 | ||||||
Pain Therapeutics, Inc.1 | 115,280 | 619,054 | ||||||
Perrigo Co. | 47,200 | 1,311,216 | ||||||
Pozen, Inc.1 | 66,220 | 508,570 | ||||||
Questcor Pharmaceuticals, Inc.1 | 310,010 | 1,550,050 | ||||||
Salix Pharmaceuticals Ltd.1 | 117,576 | 1,160,475 | ||||||
Sepracor, Inc.1 | 150,335 | 2,603,802 | ||||||
Valeant Pharmaceuticals International, Inc.1 | 168,610 | 4,336,649 | ||||||
ViroPharma, Inc.1 | 60,210 | 357,045 | ||||||
Vivus, Inc.1 | 260,140 | 1,581,651 | ||||||
31,479,454 | ||||||||
Industrials—17.7% | ||||||||
Aerospace & Defense—1.2% | ||||||||
AAR Corp.1 | 152,369 | 2,445,522 | ||||||
Aerovironment, Inc.1 | 6,880 | 212,317 | ||||||
American Science & Engineering, Inc. | 6,780 | 468,634 | ||||||
Argon ST, Inc.1 | 82,900 | 1,705,253 | ||||||
Astronics Corp.1 | 8,555 | 88,886 | ||||||
Axsys Technologies, Inc.1 | 3,300 | 177,012 | ||||||
BE Aerospace, Inc.1 | 307,705 | 4,418,644 | ||||||
Ceradyne, Inc.1 | 300,095 | 5,299,678 | ||||||
Cubic Corp. | 92,210 | 3,300,196 | ||||||
Curtiss-Wright Corp. | 24,140 | 717,682 |
F16 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Aerospace & Defense Continued | ||||||||
Ducommun, Inc. | 166,090 | $ | 3,120,831 | |||||
DynCorp International, Inc., Cl. A1 | 191,906 | 3,222,102 | ||||||
Esterline Technologies Corp.1 | 271,855 | 7,359,115 | ||||||
Gencorp, Inc.1 | 144,310 | 275,632 | ||||||
Herley Industries, Inc.1 | 2,872 | 31,506 | ||||||
Ladish Co., Inc.1 | 28,110 | 364,587 | ||||||
Spirit Aerosystems Holdings, Inc., Cl. A1 | 9,130 | 125,446 | ||||||
Taser International, Inc.1 | 145,788 | 664,793 | ||||||
TransDigm Group, Inc.1 | 12,990 | 470,238 | ||||||
Triumph Group, Inc. | 152,130 | 6,085,200 | ||||||
40,553,274 | ||||||||
Air Freight & Logistics—0.2% | ||||||||
Air Transport Services Group, Inc.1 | 47,800 | 110,896 | ||||||
Atlas Air Worldwide Holdings, Inc.1 | 172,793 | 4,007,070 | ||||||
Pacer International, Inc. | 416,281 | 928,307 | ||||||
UTi Worldwide, Inc.1 | 39,650 | 452,010 | ||||||
5,498,283 | ||||||||
Airlines—0.4% | ||||||||
Allegiant Travel Co.1 | 57,010 | 2,259,876 | ||||||
Continental Airlines, Inc., Cl. B1 | 115,320 | 1,021,735 | ||||||
Delta Air Lines, Inc.1 | 40 | 232 | ||||||
Hawaiian Holdings, Inc.1 | 443,757 | 2,671,417 | ||||||
Republic Airways Holdings, Inc.1 | 326,170 | 2,129,890 | ||||||
SkyWest, Inc. | 379,660 | 3,872,532 | ||||||
11,955,682 | ||||||||
Building Products—1.2% | ||||||||
Aaon, Inc. | 125,672 | 2,503,386 | ||||||
American Woodmark Corp. | 42,270 | 1,012,367 | ||||||
Ameron International Corp. | 98,616 | 6,611,217 | ||||||
Apogee Enterprises, Inc. | 376,908 | 4,635,968 | ||||||
Armstrong World Industries, Inc.1 | 299,958 | 4,946,307 | ||||||
Gibraltar Industries, Inc. | 393,828 | 2,705,598 | ||||||
Griffon Corp.1 | 150,572 | 1,252,759 | ||||||
Insteel Industries, Inc. | 274,742 | 2,263,874 | ||||||
Lennox International, Inc. | 33,060 | 1,061,557 | ||||||
NCI Building Systems, Inc.1 | 14,630 | 38,623 | ||||||
Quanex Building Products Corp. | 403,515 | 4,527,438 | ||||||
Trex Co., Inc.1 | 123,606 | 1,652,612 | ||||||
Universal Forest Products, Inc. | 161,150 | 5,332,454 | ||||||
USG Corp.1 | 77,501 | 780,435 | ||||||
39,324,595 | ||||||||
Commercial Services & Supplies—4.3% | ||||||||
ABM Industries, Inc. | 25,690 | 464,218 | ||||||
Acco Brands Corp.1 | 170,640 | 481,205 | ||||||
Administaff, Inc. | 56,140 | 1,306,378 | ||||||
Advisory Board Co. (The)1 | 27,340 | 702,638 | ||||||
American Ecology Corp. | 178,790 | 3,203,917 | ||||||
American Reprographics Co.1 | 319,362 | 2,657,092 | ||||||
AMREP Corp.1 | 7,633 | 84,192 | ||||||
ATC Technology Corp.1 | 136,977 | 1,986,167 | ||||||
Bowne & Co., Inc. | 171,823 | 1,118,568 | ||||||
Brink’s Co. (The) | 30,350 | 881,061 | ||||||
Casella Waste Systems, Inc., Cl. A1 | 42,570 | 84,714 | ||||||
CBIZ, Inc.1 | 327,380 | 2,330,946 | ||||||
Cenveo, Inc.1 | 182,150 | 770,495 | ||||||
Comfort Systems USA, Inc. | 455,380 | 4,667,645 | ||||||
COMSYS IT Partners, Inc.1 | 48,180 | 281,853 |
F17 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Commercial Services & Supplies Continued | ||||||||
Consolidated Graphics, Inc.1 | 207,192 | $ | 3,609,285 | |||||
Copart, Inc.1 | 2,300 | 79,741 | ||||||
Cornell Corrections, Inc.1 | 86,290 | 1,398,761 | ||||||
Corporate Executive Board Co. (The) | 44,500 | 923,820 | ||||||
CoStar Group, Inc.1 | 84,350 | 3,363,035 | ||||||
Courier Corp. | 16,638 | 253,896 | ||||||
CRA International, Inc.1 | 101,913 | 2,829,105 | ||||||
Deluxe Corp. | 672,442 | 8,613,982 | ||||||
EnergySolutions, Inc. | 151,870 | 1,397,204 | ||||||
EnerNOC, Inc.1 | 16,130 | 349,537 | ||||||
Ennis, Inc. | 112,990 | 1,407,855 | ||||||
Equifax, Inc. | 14,160 | 369,576 | ||||||
First Advantage Corp., Cl. A1 | 82,460 | 1,254,217 | ||||||
G&K Services, Inc., Cl. A | 96,280 | 2,036,322 | ||||||
GeoEye, Inc.1 | 13,860 | 326,542 | ||||||
Heidrick & Struggles International, Inc. | 99,182 | 1,810,072 | ||||||
Hill International, Inc.1 | 196,276 | 843,987 | ||||||
HNI Corp. | 384,930 | 6,951,836 | ||||||
Hudson Highland Group, Inc.1 | 143,990 | 282,220 | ||||||
ICF International, Inc.1 | 59,730 | 1,647,951 | ||||||
Interface, Inc., Cl. A | 711,480 | 4,411,176 | ||||||
Kelly Services, Inc., Cl. A | 222,577 | 2,437,218 | ||||||
Kforce, Inc.1 | 136,100 | 1,125,547 | ||||||
Kimball International, Inc., Cl. B | 121,023 | 755,184 | ||||||
Knoll, Inc. | 300,084 | 2,274,637 | ||||||
Korn-Ferry International1 | 420,220 | 4,471,141 | ||||||
M&F Worldwide Corp.1 | 32,731 | 654,620 | ||||||
Manpower, Inc. | 35,977 | 1,523,266 | ||||||
McGrath Rentcorp | 33,998 | 648,002 | ||||||
Metalico, Inc.1 | 164,540 | 766,756 | ||||||
Miller (Herman), Inc. | 545,100 | 8,361,834 | ||||||
Mine Safety Appliances Co. | 15,610 | 376,201 | ||||||
Monster Worldwide, Inc.1 | 409,584 | 4,837,187 | ||||||
MPS Group, Inc.1 | 1,116,850 | 8,532,734 | ||||||
On Assignment, Inc.1 | 157,686 | 616,552 | ||||||
PRG-Schultz International, Inc.1 | 2,140 | 5,778 | ||||||
R.R. Donnelley & Sons Co. | 4,470 | 51,941 | ||||||
Resources Connection, Inc.1 | 503,967 | 8,653,113 | ||||||
Rollins, Inc. | 29,380 | 508,568 | ||||||
Schawk, Inc. | 109,842 | 824,913 | ||||||
School Specialty, Inc.1 | 123,340 | 2,492,701 | ||||||
Spherion Corp.1 | 228,270 | 940,472 | ||||||
Standard Parking Corp.1 | 15,900 | 259,011 | ||||||
Standard Register Co. (The) | 227,281 | 740,936 | ||||||
Steelcase, Inc., Cl. A | 1,067,790 | 6,214,538 | ||||||
Sykes Enterprises, Inc.1 | 98,888 | 1,788,884 | ||||||
Team, Inc.1 | 76,157 | 1,193,380 | ||||||
Tetra Tech, Inc.1 | 46,830 | 1,341,680 | ||||||
TrueBlue, Inc.1 | 541,550 | 4,549,020 | ||||||
United Stationers, Inc.1 | 64,317 | 2,243,377 | ||||||
Viad Corp. | 225,690 | 3,886,382 | ||||||
Volt Information Sciences, Inc.1 | 51,603 | 323,551 | ||||||
Waste Connections, Inc.1 | 44,110 | 1,142,890 | ||||||
Waste Services, Inc.1 | 39,978 | 207,086 | ||||||
Watson Wyatt & Co. Holdings | 71,224 | 2,673,037 | ||||||
142,603,346 | ||||||||
Construction & Engineering—1.5% | ||||||||
Aecom Technology Corp.1 | 17,940 | 574,080 | ||||||
Baker (Michael) Corp.1 | 112,069 | 4,747,243 | ||||||
Chicago Bridge & Iron Co. NV | 151,550 | 1,879,220 | ||||||
Dycom Industries, Inc.1 | 543,652 | 6,018,228 |
F18 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Construction & Engineering Continued | ||||||||
EMCOR Group, Inc.1 | 460,630 | $ | 9,267,876 | |||||
Furmanite Corp.1 | 40,820 | 182,057 | ||||||
Granite Construction, Inc. | 115,886 | 3,856,686 | ||||||
Insituform Technologies, Inc., Cl. A1 | 164,220 | 2,786,813 | ||||||
Integrated Electrical Services, Inc.1 | 88,000 | 687,280 | ||||||
Layne Christensen Co.1 | 81,030 | 1,657,064 | ||||||
MasTec, Inc.1 | 183,250 | 2,147,690 | ||||||
Northwest Pipe Co.1 | 86,390 | 3,002,916 | ||||||
Orion Marine Group, Inc.1 | 55,370 | 1,052,030 | ||||||
Pike Electric Corp.1 | 169,640 | 2,044,162 | ||||||
Shaw Group, Inc. (The)1 | 3,240 | 88,808 | ||||||
Tutor Perini Corp.1 | 586,635 | 10,183,984 | ||||||
50,176,137 | ||||||||
Electrical Equipment—2.0% | ||||||||
Acuity Brands, Inc. | 265,280 | 7,441,104 | ||||||
Advanced Battery Technologies, Inc.1,4 | 10,760 | 43,255 | ||||||
AZZ, Inc.1 | 77,789 | 2,676,719 | ||||||
Baldor Electric Co. | 369,770 | 8,796,828 | ||||||
Belden, Inc. | 447,770 | 7,477,759 | ||||||
Brady Corp., Cl. A | 113,996 | 2,863,580 | ||||||
C&D Technologies, Inc.1 | 90,660 | 181,320 | ||||||
Day4 Energy, Inc., Legend Shares1 | 522,900 | �� | 346,157 | |||||
Encore Wire Corp. | 194,098 | 4,143,992 | ||||||
EnerSys, Inc.1 | 274,879 | 5,000,049 | ||||||
Franklin Electric Co., Inc. | 6,590 | 170,813 | ||||||
Fushi Copperweld, Inc.1 | 190 | 1,571 | ||||||
GrafTech International Ltd.1 | 896,770 | 10,142,469 | ||||||
Hubbell, Inc., Cl. B | 20,750 | 665,245 | ||||||
II-VI, Inc.1 | 8,630 | 191,327 | ||||||
LSI Industries, Inc. | 71,170 | 387,877 | ||||||
Polypore International, Inc.1 | 46,096 | 512,588 | ||||||
Powell Industries, Inc.1 | 109,943 | 4,075,587 | ||||||
Regal-Beloit Corp. | 9,310 | 369,793 | ||||||
Smith (A.O.) Corp. | 125,490 | 4,087,209 | ||||||
Thomas & Betts Corp.1 | 158,796 | 4,582,853 | ||||||
Valence Technology, Inc.1 | 92,790 | 166,094 | ||||||
Vicor Corp. | 80,733 | 582,892 | ||||||
Woodward Governor Co. | 19,492 | 385,942 | ||||||
65,293,023 | ||||||||
Industrial Conglomerates—0.2% | ||||||||
Carlisle Cos., Inc. | 30,540 | 734,182 | ||||||
Raven Industries, Inc. | 64,190 | 1,643,264 | ||||||
Seaboard Corp. | 22 | 24,684 | ||||||
Standex International Corp. | 44,953 | 521,455 | ||||||
Tredegar Corp. | 311,215 | 4,145,384 | ||||||
7,068,969 | ||||||||
Machinery—4.8% | ||||||||
3D Systems Corp.1 | 1,750 | 12,618 | ||||||
Actuant Corp., Cl. A | 206,621 | 2,520,776 | ||||||
Altra Holdings, Inc.1 | 150,736 | 1,129,013 | ||||||
American Railcar Industries, Inc. | 20,070 | 165,778 | ||||||
Ampco-Pittsburgh Corp. | 125,750 | 2,948,838 | ||||||
Badger Meter, Inc. | 141,460 | 5,799,860 | ||||||
Barnes Group, Inc. | 340,230 | 4,045,335 | ||||||
Blount International, Inc.1 | 277,210 | 2,386,778 | ||||||
Briggs & Stratton Corp. | 321,710 | 4,291,611 | ||||||
Bucyrus International, Inc., Cl. A | 14,350 | 409,836 | ||||||
Cascade Corp. | 44,213 | 695,470 | ||||||
Chart Industries, Inc.1 | 410,563 | 7,464,035 | ||||||
CIRCOR International, Inc. | 197,184 | 4,655,514 | ||||||
Clarcor, Inc. | 3,980 | 116,176 | ||||||
Colfax Corp.1 | 106,965 | 825,770 | ||||||
Columbus McKinnon Corp.1 | 258,194 | 3,266,154 | ||||||
Crane Co. | 184,752 | 4,121,817 |
F19 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Machinery Continued | ||||||||
Cummins, Inc. | 5,040 | $ | 177,458 | |||||
Dover Corp. | 2,600 | 86,034 | ||||||
EnPro Industries, Inc.1 | 329,429 | 5,933,016 | ||||||
Federal Signal Corp. | 470,594 | 3,600,044 | ||||||
Force Protection, Inc.1 | 201,607 | 1,782,206 | ||||||
Freightcar America, Inc. | 59,018 | 992,093 | ||||||
Gardner Denver, Inc.1 | 494,469 | 12,445,785 | ||||||
Gorman-Rupp Co. (The) | 99,053 | 1,997,899 | ||||||
Graco, Inc. | 95,671 | 2,106,675 | ||||||
Graham Corp. | 63,096 | 839,177 | ||||||
Harsco Corp. | 73,010 | 2,066,183 | ||||||
Hurco Cos., Inc.1 | 25,614 | 400,347 | ||||||
IDEX Corp. | 19,490 | 478,869 | ||||||
John Bean Technologies Corp. | 65,414 | 818,983 | ||||||
K-Tron International, Inc.1 | 7,111 | 566,604 | ||||||
Kadant, Inc.1 | 169,730 | 1,916,252 | ||||||
Kennametal, Inc. | 277,858 | 5,329,316 | ||||||
L.B. Foster Co., Cl. A1 | 72,140 | 2,169,250 | ||||||
Lincoln Electric Holdings, Inc. | 81,012 | 2,919,672 | ||||||
Lindsay Manufacturing Co. | 62,150 | 2,057,165 | ||||||
Lydall, Inc.1 | 77,870 | 264,758 | ||||||
Manitowoc Co., Inc. (The) | 513,462 | 2,700,810 | ||||||
McCoy Corp., Legend Shares2 | 315,600 | 339,165 | ||||||
Mueller Industries, Inc. | 274,780 | 5,715,424 | ||||||
Mueller Water Products, Inc., Cl. A | 536,307 | 2,005,788 | ||||||
NACCO Industries, Inc., Cl. A | 24,110 | 692,439 | ||||||
NN, Inc. | 59,270 | 99,574 | ||||||
Nordson Corp. | 85,420 | 3,302,337 | ||||||
Oshkosh Corp. | 666,520 | 9,691,201 | ||||||
Pall Corp. | 20 | 531 | ||||||
RBC Bearings, Inc.1 | 12,729 | 260,308 | ||||||
Robbins & Myers, Inc. | 298,691 | 5,749,802 | ||||||
Sauer-Danfoss, Inc. | 91,537 | 561,122 | ||||||
Sun Hydraulics Corp. | 197,840 | 3,199,073 | ||||||
Tecumseh Products Co., Cl. A1 | 200,080 | 1,942,777 | ||||||
Tennant Co. | 74,858 | 1,376,639 | ||||||
Terex Corp.1 | 243,170 | 2,935,062 | ||||||
Thermadyne Holdings Corp.1 | 23,256 | 81,629 | ||||||
Timken Co. | 464,376 | 7,931,542 | ||||||
Titan International, Inc. | 515,479 | 3,850,628 | ||||||
Toro Co. (The) | 254,227 | 7,601,387 | ||||||
Trinity Industries, Inc. | 377,170 | 5,137,055 | ||||||
Twin Disc, Inc. | 24,240 | 165,074 | ||||||
Wabash National Corp. | 19,697 | 13,788 | ||||||
Wabtec Corp. | 48,280 | 1,553,168 | ||||||
Watts Water Technologies, Inc., Cl. A | 42,870 | 923,420 | ||||||
Xerium Technologies, Inc.1 | 171,227 | 188,350 | ||||||
161,821,258 | ||||||||
Marine—0.5% | ||||||||
Alexander & Baldwin, Inc. | 6,839 | 160,306 | ||||||
American Commercial Lines, Inc.1 | 127,024 | 1,966,332 | ||||||
Eagle Bulk Shipping, Inc. | 223,100 | 1,046,339 | ||||||
Excel Maritime Carriers Ltd. | 22,282 | 149,958 | ||||||
Genco Shipping & Trading Ltd. | 264,420 | 5,743,202 | ||||||
Horizon Lines, Inc., Cl. A | 28,414 | 109,678 | ||||||
Kirby Corp.1 | 128,170 | 4,074,524 | ||||||
Safe Bulkers, Inc. | 258,460 | 1,695,498 | ||||||
Star Bulk Carriers Corp. | 233,762 | 857,907 | ||||||
TBS International Ltd., Cl. A1 | 345,470 | 2,698,121 | ||||||
18,501,865 |
F20 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Road & Rail—0.5% | ||||||||
Amerco1 | 25,628 | $ | 952,080 | |||||
Arkansas Best Corp. | 247,150 | 6,512,403 | ||||||
Avis Budget Group, Inc.1 | 506,120 | 2,859,578 | ||||||
Celadon Group, Inc.1 | 67,480 | 566,157 | ||||||
Marten Transport Ltd.1 | 160,086 | 3,323,385 | ||||||
Ryder Systems, Inc. | 41,368 | 1,154,995 | ||||||
15,368,598 | ||||||||
Trading Companies & Distributors—0.9% | ||||||||
Applied Industrial Technologies, Inc. | 141,790 | 2,793,263 | ||||||
Beacon Roofing Supply, Inc.1 | 299,710 | 4,333,807 | ||||||
BlueLinx Holdings, Inc.1 | 13,960 | 41,880 | ||||||
DXP Enterprises, Inc.1 | 33,409 | 383,201 | ||||||
GATX Corp. | 13,824 | 355,553 | ||||||
H&E Equipment Services, Inc.1 | 138,786 | 1,297,649 | ||||||
Houston Wire & Cable Co. | 237,922 | 2,833,651 | ||||||
Interline Brands, Inc.1 | 30,926 | 423,068 | ||||||
Kaman Corp. | 8,000 | 133,600 | ||||||
MSC Industrial Direct Co., Inc., Cl. A | 14,180 | 503,106 | ||||||
Rush Enterprises, Inc., Cl. A1 | 296,432 | 3,453,433 | ||||||
Textainer Group Holdings Ltd. | 36,988 | 424,992 | ||||||
Titan Machinery, Inc.1 | 15,510 | 196,822 | ||||||
United Rentals, Inc.1 | 271,679 | 1,763,197 | ||||||
Watsco, Inc. | 53,810 | 2,632,923 | ||||||
WESCO International, Inc.1 | 385,310 | 9,648,162 | ||||||
31,218,307 | ||||||||
Transportation Infrastructure—0.0% | ||||||||
CAI International, Inc.1 | 109,413 | 558,006 | ||||||
Information Technology—21.4% | ||||||||
Communications Equipment—3.4% | ||||||||
3Com Corp.1 | 2,329,892 | 10,973,791 | ||||||
Acme Packet, Inc.1 | 132,640 | 1,342,317 | ||||||
ADC Telecommunications, Inc.1 | 204,190 | 1,625,352 | ||||||
ADTRAN, Inc. | 281,730 | 6,048,743 | ||||||
Arris Group, Inc.1 | 102,590 | 1,247,494 | ||||||
Avocent Corp.1 | 486,070 | 6,785,537 | ||||||
Bel Fuse, Inc., Cl. A | 15,022 | 210,909 | ||||||
BigBand Networks, Inc.1 | 138,153 | 714,251 | ||||||
Black Box Corp. | 72,110 | 2,413,522 | ||||||
Blue Coat Systems, Inc.1 | 145,730 | 2,410,374 | ||||||
Brocade Communications Systems, Inc.1 | 22,260 | 174,073 | ||||||
Ciena Corp.1 | 515,820 | 5,338,737 | ||||||
Cogo Group, Inc.1 | 78,150 | 466,556 | ||||||
CommScope, Inc.1 | 432,705 | 11,362,833 | ||||||
Comtech Telecommunications Corp.1 | 29,000 | 924,520 | ||||||
Digi International, Inc.1 | 100,090 | 975,878 | ||||||
EchoStar Holding Corp.1 | 34,875 | 555,908 | ||||||
EMS Technologies, Inc.1 | 121,490 | 2,539,141 | ||||||
Emulex Corp.1 | 830,600 | 8,123,268 | ||||||
Extreme Networks, Inc.1 | 88,964 | 177,928 | ||||||
Finisar Corp.1 | 586,110 | 334,083 | ||||||
Harris Stratex Networks, Inc., Cl. A1 | 75,504 | 489,266 | ||||||
InterDigital, Inc.1 | 235,187 | 5,747,970 | ||||||
Ixia1 | 259,721 | 1,750,520 | ||||||
JDS Uniphase Corp.1 | 1,630,639 | 9,327,255 | ||||||
Netgear, Inc.1 | 64,887 | 935,022 | ||||||
Oplink Communications, Inc.1 | 30,488 | 347,563 | ||||||
ParkerVision, Inc.1 | 66,790 | 204,377 | ||||||
Performance Technologies, Inc.1 | 16,780 | 49,501 | ||||||
Plantronics, Inc. | 453,205 | 8,570,107 | ||||||
Polycom, Inc.1 | 121,780 | 2,468,481 | ||||||
Powerwave Technologies, Inc.1 | 631,041 | 1,015,976 | ||||||
SeaChange International, Inc.1 | 124,362 | 998,627 |
F21 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Communications Equipment Continued | ||||||||
ShoreTel, Inc.1 | 45,010 | $ | 360,080 | |||||
Sonus Networks, Inc.1 | 473,280 | 761,981 | ||||||
Starent Networks Corp.1 | 297,550 | 7,263,196 | ||||||
Tekelec, Inc.1 | 245,854 | 4,137,723 | ||||||
Tellabs, Inc.1 | 189,767 | 1,087,365 | ||||||
UTStarcom, Inc.1 | 411,492 | 670,732 | ||||||
ViaSat, Inc.1 | 64,413 | 1,651,549 | ||||||
112,582,506 | ||||||||
Computers & Peripherals—1.4% | ||||||||
3PAR, Inc.1 | 13,860 | 171,864 | ||||||
Adaptec, Inc.1 | 434,070 | 1,150,286 | ||||||
Avid Technology, Inc.1 | 209,040 | 2,803,226 | ||||||
Diebold, Inc. | 15,320 | 403,835 | ||||||
Electronics for Imaging, Inc.1 | 294,702 | 3,141,523 | ||||||
Hypercom Corp.1 | 1,360 | 2,040 | ||||||
Imation Corp. | 189,804 | 1,444,408 | ||||||
Lexmark International, Inc., Cl. A1 | 59,896 | 949,352 | ||||||
NCR Corp.1 | 101,230 | 1,197,551 | ||||||
Netezza Corp.1 | 157,915 | 1,313,853 | ||||||
Novatel Wireless, Inc.1 | 20,777 | 187,409 | ||||||
QLogic Corp.1 | 658,840 | 8,354,091 | ||||||
Seagate Technology | 3,530 | 36,924 | ||||||
STEC, Inc.1 | 433,550 | 10,054,025 | ||||||
Sun Microsystems, Inc.1 | 8,990 | 82,888 | ||||||
Synaptics, Inc.1 | 255,100 | 9,859,615 | ||||||
Teradata Corp.1 | 63,410 | 1,485,696 | ||||||
Western Digital Corp.1 | 121,925 | 3,231,013 | ||||||
Xyratex Ltd.1 | 48,020 | 239,620 | ||||||
46,109,219 | ||||||||
Electronic Equipment & Instruments—3.4% | ||||||||
Acacia Research Corp.1 | 52,830 | 415,772 | ||||||
Agilent Technologies, Inc.1 | 3,600 | 73,116 | ||||||
Agilysys, Inc. | 19,970 | 93,460 | ||||||
Amphenol Corp., Cl. A | 4,970 | 157,251 | ||||||
Anixter International, Inc.1 | 194,583 | 7,314,375 | ||||||
Arrow Electronics, Inc.1 | 115,720 | 2,457,893 | ||||||
AVX Corp. | 65,830 | 653,692 | ||||||
Benchmark Electronics, Inc.1 | 744,900 | 10,726,560 | ||||||
Brightpoint, Inc.1 | 367,180 | 2,302,219 | ||||||
Checkpoint Systems, Inc.1 | 46,250 | 725,663 | ||||||
China Security & Surveillance Technology, Inc.1 | 130,220 | 981,859 | ||||||
Cognex Corp. | 55,752 | 787,776 | ||||||
Coherent, Inc.1 | 160,470 | 3,318,520 | ||||||
CPI International, Inc.1 | 490 | 4,258 | ||||||
CTS Corp. | 329,598 | 2,158,867 | ||||||
Daktronics, Inc. | 162,790 | 1,253,483 | ||||||
Dolby Laboratories, Inc., Cl. A1 | 14,540 | 542,051 | ||||||
DTS, Inc.1 | 80,080 | 2,167,766 | ||||||
Echelon Corp.1 | 25,300 | 214,544 | ||||||
Electro Scientific Industries, Inc.1 | 93,773 | 1,048,382 | ||||||
FARO Technologies, Inc.1 | 19,114 | 296,840 | ||||||
Gerber Scientific, Inc.1 | 39,650 | 99,125 | ||||||
Ingram Micro, Inc., Cl. A1 | 8,930 | 156,275 | ||||||
Insight Enterprises, Inc.1 | 318,462 | 3,076,343 | ||||||
Jabil Circuit, Inc. | 770,953 | 5,720,471 | ||||||
L-1 Identity Solutions, Inc.1 | 68,530 | 530,422 | ||||||
Littlefuse, Inc.1 | 161,757 | 3,228,670 | ||||||
Maxwell Technologies, Inc.1 | 38,100 | 526,923 | ||||||
Methode Electronics, Inc. | 370,308 | 2,599,562 | ||||||
Molex, Inc. | 47,711 | 741,906 | ||||||
MTS Systems Corp. | 68,160 | 1,407,504 | ||||||
Multi-Fineline Electronix, Inc.1 | 265,634 | 5,684,568 | ||||||
NAM TAI Electronics, Inc. | 39,750 | 169,335 | ||||||
OSI Systems, Inc.1 | 129,377 | 2,697,510 |
F22 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Electronic Equipment & Instruments Continued | ||||||||
Park Electrochemical Corp. | 88,040 | $ | 1,895,501 | |||||
PC Connection, Inc.1 | 39,733 | 208,598 | ||||||
Plexus Corp.1 | 146,310 | 2,993,503 | ||||||
RadiSys Corp.1 | 30,040 | 270,660 | ||||||
Rofin-Sinar Technologies, Inc.1 | 297,950 | 5,961,980 | ||||||
Rogers Corp.1 | 12,120 | 245,188 | ||||||
Sanmina-SCI Corp.1 | 1,938,110 | 852,768 | ||||||
ScanSource, Inc.1 | 170,491 | 4,180,439 | ||||||
SYNNEX Corp.1 | 331,250 | 8,277,938 | ||||||
Tech Data Corp.1 | 330,992 | 10,826,748 | ||||||
Technitrol, Inc. | 253,363 | 1,639,259 | ||||||
Trimble Navigation Ltd.1 | 1,480 | 29,052 | ||||||
TTM Technologies, Inc.1 | 239,810 | 1,908,888 | ||||||
Vishay Intertechnology, Inc.1 | 1,357,168 | 9,215,171 | ||||||
112,838,654 | ||||||||
Internet Software & Services—1.9% | ||||||||
Akamai Technologies, Inc.1 | 1,680 | 32,222 | ||||||
Art Technology Group, Inc.1 | 436,900 | 1,660,220 | ||||||
AsiaInfo Holdings, Inc.1 | 129,340 | 2,225,941 | ||||||
comScore, Inc.1 | 26,990 | 359,507 | ||||||
DealerTrack Holdings, Inc.1 | 67,984 | 1,155,728 | ||||||
Digital River, Inc.1 | 136,681 | 4,964,254 | ||||||
EarthLink, Inc.1 | 644,253 | 4,773,915 | ||||||
InfoSpace, Inc.1 | 9,060 | 60,068 | ||||||
j2 Global Communications, Inc.1 | 265,058 | 5,979,708 | ||||||
Knot, Inc. (The)1 | 25,310 | 199,443 | ||||||
Liquidity Services, Inc.1 | 19,870 | 195,918 | ||||||
LoopNet, Inc.1 | 138,360 | 1,072,290 | ||||||
Mercadolibre, Inc.1 | 114,220 | 3,070,234 | ||||||
ModusLink Global Solutions, Inc.1 | 124,661 | 855,174 | ||||||
Move, Inc.1 | 86,273 | 186,350 | ||||||
National Information Consortium, Inc. | 128,855 | 872,348 | ||||||
NaviSite, Inc.1 | 44,400 | 60,828 | ||||||
Open Text Corp.1 | 130,310 | 4,745,890 | ||||||
Perficient, Inc.1 | 42,470 | 296,865 | ||||||
S1 Corp.1 | 557,200 | 3,844,680 | ||||||
Savvis, Inc.1 | 9,700 | 111,162 | ||||||
Sohu.com, Inc.1 | 53,330 | 3,350,724 | ||||||
SonicWALL, Inc.1 | 361,979 | 1,983,645 | ||||||
TheStreet.com, Inc. | 44,710 | 93,444 | ||||||
United Online, Inc. | 376,012 | 2,447,838 | ||||||
ValueClick, Inc.1 | 758,081 | 7,975,012 | ||||||
Vignette Corp.1 | 149,410 | 1,964,742 | ||||||
VistaPrint Ltd.1 | 220,077 | 9,386,284 | ||||||
Vocus, Inc.1 | 89,200 | 1,762,592 | ||||||
Zix Corp.1 | 29,480 | 44,220 | ||||||
65,731,246 | ||||||||
IT Services—2.6% | ||||||||
Acxiom Corp. | 817,838 | 7,221,510 | ||||||
Amdocs Ltd.1 | 23,070 | 494,852 | ||||||
Broadridge Financial Solutions, Inc. | 183,648 | 3,044,884 | ||||||
CACI International, Inc., Cl. A1 | 49,364 | 2,108,336 | ||||||
CIBER, Inc.1 | 812,710 | 2,519,401 | ||||||
Convergys Corp.1 | 1,138,776 | 10,567,841 | ||||||
CSG Systems International, Inc.1 | 244,738 | 3,240,331 | ||||||
DST Systems, Inc.1 | 21,878 | 808,392 | ||||||
Euronet Worldwide, Inc.1 | 47,590 | 922,770 | ||||||
Exlservice Holdings, Inc.1 | 67,390 | 755,442 | ||||||
Fiserv, Inc.1 | 26,370 | 1,205,109 | ||||||
Forrester Research, Inc.1 | 46,930 | 1,152,132 | ||||||
Gartner, Inc.1 | 389,553 | 5,944,579 | ||||||
Global Cash Access, Inc.1 | 339,628 | 2,703,439 | ||||||
Hackett Group, Inc. (The)1 | 10,760 | 25,071 |
F23 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
IT Services Continued | ||||||||
Heartland Payment Systems, Inc. | 223,072 | $ | 2,134,799 | |||||
iGate Corp. | 159,004 | 1,052,606 | ||||||
infoGROUP, Inc.1 | 84,060 | 479,983 | ||||||
Integral Systems, Inc.1 | 183,985 | 1,530,755 | ||||||
Lender Processing Services, Inc. | 18,230 | 506,247 | ||||||
ManTech International Corp.1 | 37,810 | 1,627,342 | ||||||
Mastech Holdings, Inc.1 | 2,980 | 10,341 | ||||||
Maximus, Inc. | 3,680 | 151,800 | ||||||
Metavante Technologies, Inc.1 | 1,160 | 29,998 | ||||||
NCI, Inc., Cl. A1 | 11,130 | 338,575 | ||||||
Ness Technologies, Inc.1 | 87,450 | 341,930 | ||||||
NeuStar, Inc., Cl. A1 | 386,803 | 8,571,554 | ||||||
Online Resources & Communications Corp.1 | 1,170 | 7,301 | ||||||
Perot Systems Corp., Cl. A1 | 411,840 | 5,901,667 | ||||||
RightNow Technologies, Inc.1 | 270,058 | 3,186,684 | ||||||
Sapient Corp.1 | 924,890 | 5,817,558 | ||||||
Syntel, Inc. | 76,343 | 2,400,224 | ||||||
TeleTech Holdings, Inc.1 | 563,419 | 8,535,798 | ||||||
Total System Services, Inc. | 15,172 | 203,153 | ||||||
Unisys Corp.1 | 712,070 | 1,075,226 | ||||||
86,617,630 | ||||||||
Office Electronics—0.0% | ||||||||
Xerox Corp. | 18,110 | 117,353 | ||||||
Zebra Technologies Corp., Cl. A1 | 64,090 | 1,516,369 | ||||||
1,633,722 | ||||||||
Semiconductors & Semiconductor Equipment—5.1% | ||||||||
Actel Corp.1 | 205,010 | 2,199,757 | ||||||
Advanced Analogic Technologies, Inc.1 | 65,250 | 299,498 | ||||||
Advanced Energy Industries, Inc.1 | 396,326 | 3,562,971 | ||||||
Amkor Technology, Inc.1 | 1,463,020 | 6,920,085 | ||||||
Applied Micro Circuits Corp.1 | 501,418 | 4,076,528 | ||||||
Atmel Corp.1 | 1,139,460 | 4,250,186 | ||||||
ATMI, Inc.1 | 292,171 | 4,537,416 | ||||||
Brooks Automation, Inc.1 | 495,316 | 2,219,016 | ||||||
Cabot Microelectronics Corp.1 | 201,960 | 5,713,448 | ||||||
Cavium Networks, Inc.1 | 170,214 | 2,861,297 | ||||||
Cirrus Logic, Inc.1 | 520,491 | 2,342,210 | ||||||
Cohu, Inc. | 69,800 | 626,804 | ||||||
Cypress Semiconductor Corp.1 | 48,380 | 445,096 | ||||||
Diodes, Inc.1 | 117,520 | 1,838,013 | ||||||
DSP Group, Inc.1 | 72,142 | 487,680 | ||||||
Entegris, Inc.1 | 1,356,900 | 3,690,768 | ||||||
Exar Corp.1 | 180,469 | 1,297,572 | ||||||
Fairchild Semiconductor International, Inc., Cl. A1 | 1,162,558 | 8,126,280 | ||||||
FEI Co.1 | 9,120 | 208,848 | ||||||
Hittite Microwave Corp.1 | 59,150 | 2,055,463 | ||||||
Integrated Device Technology, Inc.1 | 1,341,520 | 8,102,781 | ||||||
Intellon Corp.1 | 90,550 | 384,838 | ||||||
International Rectifier Corp.1 | 343,330 | 5,084,717 | ||||||
Intersil Corp., Cl. A | 153,580 | 1,930,501 | ||||||
IXYS Corp. | 113,697 | 1,150,614 | ||||||
Kulicke & Soffa Industries, Inc.1 | 85,800 | 294,294 | ||||||
Lattice Semiconductor Corp.1 | 1,005,688 | 1,890,693 | ||||||
LSI Corp.1 | 25,970 | 118,423 | ||||||
MEMC Electronic Materials, Inc.1 | 2,010 | 35,798 | ||||||
Micrel, Inc. | 516,248 | 3,778,935 | ||||||
Microsemi Corp.1 | 171,230 | 2,362,974 |
F24 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Semiconductors & Semiconductor Equipment Continued | ||||||||
Microtune, Inc.1 | 86,580 | $ | 202,597 | |||||
MKS Instruments, Inc.1 | 504,680 | 6,656,729 | ||||||
Monolithic Power Systems, Inc.1 | 198,480 | 4,447,937 | ||||||
Novellus Systems, Inc.1 | 66,410 | 1,109,047 | ||||||
OmniVision Technologies, Inc.1 | 442,198 | 4,594,437 | ||||||
ON Semiconductor Corp.1 | 14,750 | 101,185 | ||||||
Pericom Semiconductor Corp.1 | 109,152 | 919,060 | ||||||
PMC-Sierra, Inc.1 | 161,150 | 1,282,754 | ||||||
Power Integrations, Inc. | 13,770 | 327,588 | ||||||
RF Micro Devices, Inc.1 | 1,434,120 | 5,392,291 | ||||||
Semtech Corp.1 | 454,531 | 7,231,588 | ||||||
Sigma Designs, Inc.1 | 109,370 | 1,754,295 | ||||||
Silicon Image, Inc.1 | 775,905 | 1,784,582 | ||||||
Silicon Laboratories, Inc.1 | 31,230 | 1,184,866 | ||||||
Silicon Storage Technology, Inc.1 | 257,180 | 480,927 | ||||||
Skyworks Solutions, Inc.1 | 1,181,030 | 11,550,473 | ||||||
Standard Microsystems Corp.1 | 84,160 | 1,721,072 | ||||||
Supertex, Inc.1 | 78,630 | 1,974,399 | ||||||
Techwell, Inc.1 | 29,280 | 248,880 | ||||||
Teradyne, Inc.1 | 821,479 | 5,635,346 | ||||||
Tessera Technologies, Inc.1 | 190,695 | 4,822,677 | ||||||
TriQuint Semiconductor, Inc.1 | 526,290 | 2,794,600 | ||||||
Ultra Clean Holdings, Inc.1 | 12,210 | 29,304 | ||||||
Ultratech, Inc.1 | 271,109 | 3,337,352 | ||||||
Varian Semiconductor Equipment Associates, Inc.1 | 262,299 | 6,292,553 | ||||||
Veeco Instruments, Inc.1 | 407,620 | 4,724,316 | ||||||
Verigy Ltd.1 | 63,990 | 778,758 | ||||||
Volterra Semiconductor Corp.1 | 251,120 | 3,299,717 | ||||||
Xilinx, Inc. | 23,940 | 489,812 | ||||||
Zoran Corp.1 | 103,365 | 1,126,679 | ||||||
169,189,325 | ||||||||
Software—3.6% | ||||||||
ACI Worldwide, Inc.1 | 61,270 | 855,329 | ||||||
Actuate Corp.1 | 10,370 | 49,569 | ||||||
Advent Software, Inc.1 | 44,400 | 1,455,876 | ||||||
Aspen Technology, Inc.1 | 159,930 | 1,364,203 | ||||||
Blackbaud, Inc. | 40,461 | 629,169 | ||||||
Blackboard, Inc.1 | 155,140 | 4,477,340 | ||||||
Bottomline Technologies, Inc.1 | 48,740 | 439,147 | ||||||
Cadence Design Systems, Inc.1 | 379,474 | 2,238,897 | ||||||
Commvault Systems, Inc.1 | 23,710 | 393,112 | ||||||
Compuware Corp.1 | 561,411 | 3,851,279 | ||||||
Double-Take Software, Inc.1 | 53,810 | 465,457 | ||||||
Epicor Software Corp.1 | 43,540 | 230,762 | ||||||
EPIQ Systems, Inc.1 | 57,230 | 878,481 | ||||||
FactSet Research Systems, Inc. | 22,210 | 1,107,613 | ||||||
Fair Isaac Corp. | 514,106 | 7,948,079 | ||||||
FalconStor Software, Inc.1 | 57,412 | 272,707 | ||||||
Henry (Jack) & Associates, Inc. | 89,077 | 1,848,348 | ||||||
i2 Technologies, Inc.1 | 21,330 | 267,692 | ||||||
Informatica Corp.1 | 36,940 | 634,999 | ||||||
Interactive Intelligence, Inc.1 | 59,540 | 729,960 | ||||||
JDA Software Group, Inc.1 | 194,880 | 2,915,405 | ||||||
Kenexa Corp.1 | 108,932 | 1,260,343 | ||||||
Manhattan, Associates Inc.1 | 207,232 | 3,775,767 | ||||||
Mentor Graphics Corp.1 | 521,640 | 2,853,371 | ||||||
MICROS Systems, Inc.1 | 207,680 | 5,258,458 |
F25 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Software Continued | ||||||||
MicroStrategy, Inc., Cl. A1 | 59,863 | $ | 3,006,320 | |||||
MSC.Software Corp.1 | 43,920 | 292,507 | ||||||
Net 1 UEPS Technologies, Inc.1 | 417,500 | 5,673,825 | ||||||
NetScout Systems, Inc.1 | 67,190 | 630,242 | ||||||
Novell, Inc.1 | 130,020 | 588,991 | ||||||
Parametric Technology Corp.1 | 597,890 | 6,989,334 | ||||||
Phoenix Technologies Ltd.1 | 7,660 | 20,759 | ||||||
Progress Software Corp.1 | 154,110 | 3,262,509 | ||||||
PROS Holdings, Inc.1 | 6,905 | 56,069 | ||||||
Quest Software, Inc.1 | 279,120 | 3,890,933 | ||||||
Radiant Systems, Inc.1 | 187,030 | 1,552,349 | ||||||
Rosetta Stone, Inc.1 | 27,530 | 755,423 | ||||||
Smith Micro Software, Inc.1 | 17,750 | 174,305 | ||||||
Solera Holdings, Inc.1 | 61,950 | 1,573,530 | ||||||
SPSS, Inc.1 | 54,390 | 1,814,994 | ||||||
Sybase, Inc.1 | 130,020 | 4,074,827 | ||||||
Symyx Technologies, Inc.1 | 43,050 | 251,843 | ||||||
Synchronoss Technologies, Inc.1 | 191,880 | 2,354,368 | ||||||
Synopsys, Inc.1 | 1,870 | 36,484 | ||||||
Take-Two Interactive Software, Inc. | 581,070 | 5,502,733 | ||||||
Taleo Corp., Cl. A1 | 186,153 | 3,401,015 | ||||||
TIBCO Software, Inc.1 | 2,556,490 | 18,330,033 | ||||||
Tyler Technologies, Inc.1 | 196,340 | 3,066,831 | ||||||
Ultimate Software Group, Inc. (The)1 | 52,550 | 1,273,812 | ||||||
Wind River Systems, Inc.1 | 460,875 | 5,281,628 | ||||||
120,057,027 | ||||||||
Materials—5.5% | ||||||||
Chemicals—2.3% | ||||||||
Arch Chemicals, Inc. | 10,280 | 252,785 | ||||||
Ashland, Inc. | 342,010 | 9,593,381 | ||||||
Balchem Corp. | 20,360 | 499,227 | ||||||
Cabot Corp. | 114,524 | 1,440,712 | ||||||
CF Industries Holdings, Inc. | 26,720 | 1,981,021 | ||||||
Cytec Industries, Inc. | 310,792 | 5,786,947 | ||||||
Ferro Corp. | 233,860 | 643,115 | ||||||
Fuller (H.B.) Co. | 174,671 | 3,278,575 | ||||||
GenTek, Inc.1 | 6,200 | 138,446 | ||||||
ICO, Inc.1 | 174,060 | 473,443 | ||||||
Innophos Holdings, Inc. | 174,687 | 2,950,463 | ||||||
Innospec, Inc. | 189,923 | 2,041,672 | ||||||
Koppers Holdings, Inc. | 42,080 | 1,109,650 | ||||||
Landec Corp.1 | 91,430 | 620,810 | ||||||
LSB Industries, Inc.1 | 150,936 | 2,440,635 | ||||||
Minerals Technologies, Inc. | 107,953 | 3,888,467 | ||||||
NewMarket Corp. | 82,860 | 5,578,964 | ||||||
NOVA Chemicals Corp. | 523,190 | 3,102,517 | ||||||
Olin Corp. | 273,906 | 3,256,742 | ||||||
OM Group, Inc.1 | 267,900 | 7,774,458 | ||||||
PolyOne Corp.1 | 695,290 | 1,884,236 | ||||||
Quaker Chemical Corp. | 65,250 | 867,173 | ||||||
Rockwood Holdings, Inc.1 | 267,871 | 3,921,631 | ||||||
Schulman (A.), Inc. | 168,835 | 2,551,097 | ||||||
Sensient Technologies Corp. | 42,760 | 965,093 | ||||||
Solutia, Inc.1 | 67,580 | 389,261 | ||||||
Spartech Corp. | 214,352 | 1,969,895 | ||||||
Stepan Co. | 40,619 | 1,793,735 | ||||||
Terra Industries, Inc. | 68,058 | 1,648,365 | ||||||
Valhi, Inc. | 5,140 | 38,190 | ||||||
W.R. Grace & Co.1 | 40,520 | 501,232 | ||||||
Westlake Chemical Corp. | 14,440 | 294,432 | ||||||
Zep, Inc. | 177,415 | 2,137,851 | ||||||
Zoltek Cos., Inc.1 | 183,740 | 1,785,953 | ||||||
77,600,174 |
F26 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Shares | Value | |||||||
Construction Materials—0.1% | ||||||||
Eagle Materials, Inc. | 5,920 | $ | 149,421 | |||||
Headwaters, Inc.1 | 406,408 | 1,365,531 | ||||||
Texas Industries, Inc. | 63,312 | 1,985,464 | ||||||
3,500,416 | ||||||||
Containers & Packaging—0.6% | ||||||||
Bway Holding Co.1 | 19,490 | 341,660 | ||||||
Myers Industries, Inc. | 220,287 | 1,832,788 | ||||||
Packaging Corp. of America | 210,770 | 3,414,474 | ||||||
Rock-Tenn Co., Cl. A | 75,385 | 2,876,692 | ||||||
Sonoco Products Co. | 34,193 | 818,922 | ||||||
Temple-Inland, Inc. | 758,338 | 9,949,395 | ||||||
19,233,931 | ||||||||
Metals & Mining—2.2% | ||||||||
A. M. Castle & Co. | 200,172 | 2,418,078 | ||||||
AK Steel Holding Corp. | 587,870 | 11,281,225 | ||||||
Allied Nevada Gold Corp.1 | 18,900 | 152,334 | ||||||
AMCOL International Corp. | 10,090 | 217,742 | ||||||
Brush Engineered Materials, Inc.1 | 196,804 | 3,296,467 | ||||||
Carpenter Technology Corp. | 380,134 | 7,910,589 | ||||||
Commercial Metals Co. | 267,410 | 4,286,582 | ||||||
Compass Minerals International, Inc. | 64,800 | 3,558,168 | ||||||
General Steel Holdings, Inc.1 | 37,810 | 150,106 | ||||||
Haynes International, Inc.1 | 121,501 | 2,879,574 | ||||||
Hecla Mining Co.1 | 321,030 | 860,360 | ||||||
Horsehead Holding Corp.1 | 83,487 | 621,978 | ||||||
Kaiser Aluminum Corp. | 65,747 | 2,360,975 | ||||||
Olympic Steel, Inc. | 165,295 | 4,044,769 | ||||||
Reliance Steel & Aluminum Co. | 7,460 | 286,389 | ||||||
Royal Gold, Inc. | 54,390 | 2,268,063 | ||||||
RTI International Metals, Inc.1 | 271,755 | 4,801,911 | ||||||
Schnitzer Steel Industries, Inc. | 166,376 | 8,794,635 | ||||||
Stillwater Mining Co.1 | 402,524 | 2,298,412 | ||||||
Titanium Metals Corp. | 480,450 | 4,415,336 | ||||||
Universal Stainless & Alloy Products, Inc.1 | 25,210 | 410,167 | ||||||
Walter Industries, Inc. | 17,566 | 636,592 | ||||||
Worthington Industries, Inc. | 269,660 | 3,448,951 | ||||||
71,399,403 | ||||||||
Paper & Forest Products—0.3% | ||||||||
Buckeye Technologies, Inc.1 | 208,428 | 935,842 | ||||||
Clearwater Paper Corp. 1 | 21,387 | 540,877 | ||||||
Deltic Timber Corp. | 9,700 | 344,059 | ||||||
Domtar Corp.1 | 88,834 | 1,472,868 | ||||||
Glatfelter | 218,550 | 1,945,095 | ||||||
Louisiana-Pacific Corp.1 | 445,053 | 1,522,081 | ||||||
MeadWestvaco Corp. | 6,470 | 106,173 | ||||||
Mercer International, Inc.1 | 43,340 | 24,704 | ||||||
Neenah Paper, Inc. | 20,329 | 179,098 | ||||||
Schweitzer-Mauduit International, Inc. | 51,454 | 1,400,063 | ||||||
Wausau Paper Corp. | 344,406 | 2,314,408 | ||||||
10,785,268 | ||||||||
Telecommunication Services—1.5% | ||||||||
Diversified Telecommunication Services—1.0% | ||||||||
Alaska Communications Systems Group, Inc. | 4,555 | 33,343 | ||||||
Atlantic Tele-Network, Inc. | 71,107 | 2,793,794 | ||||||
Cbeyond, Inc.1 | 85,068 | 1,220,726 | ||||||
Cincinnati Bell, Inc.1 | 1,679,350 | 4,769,354 | ||||||
Cogent Communications Group, Inc.1 | 277,335 | 2,260,280 | ||||||
Embarq Corp. | 7,420 | 312,085 |
F27 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Shares | Value | |||||||
Diversified Telecommunication Services Continued | ||||||||
Frontier Communications Corp. | 1,480 | $ | 10,567 | |||||
General Communication, Inc., Cl. A1 | 18,040 | 125,017 | ||||||
Global Crossing Ltd.1 | 39,830 | 365,639 | ||||||
Iowa Telecommunications Services, Inc. | 110,240 | 1,379,102 | ||||||
Neutral Tandem, Inc.1 | 51,680 | 1,525,594 | ||||||
NTELOS Holdings Corp. | 166,745 | 3,071,443 | ||||||
PAETEC Holding Corp.1 | 7,470 | 20,169 | ||||||
Premiere Global Services, Inc.1 | 768,080 | 8,325,987 | ||||||
tw telecom, Inc.1 | 717,010 | 7,363,693 | ||||||
33,576,793 | ||||||||
Wireless Telecommunication Services—0.5% | ||||||||
Centennial Communications Corp.1 | 905,890 | 7,573,240 | ||||||
iPCS, Inc.1 | 62,304 | 932,068 | ||||||
NII Holdings, Inc.1 | 1,230 | 23,456 | ||||||
Syniverse Holdings, Inc.1 | 368,995 | 5,914,990 | ||||||
USA Mobility, Inc. | 86,606 | 1,105,093 | ||||||
15,548,847 | ||||||||
Utilities—0.8% | ||||||||
Electric Utilities—0.2% | ||||||||
Cleco Corp. | 156,370 | 3,505,815 | ||||||
Empire District Electric Co. | 8,340 | 137,777 | ||||||
Hawaiian Electric Industries, Inc. | 24,630 | 469,448 | ||||||
IDACORP, Inc. | 37,520 | 980,773 | ||||||
Portland General Electric Co. | 80,280 | 1,563,854 | ||||||
UniSource Energy Corp. | 11,630 | 308,660 | ||||||
Westar Energy, Inc. | 53,030 | 995,373 | ||||||
7,961,700 | ||||||||
Energy Traders—0.0% | ||||||||
Calpine Corp.1 | 40,600 | 452,690 | ||||||
RRI Energy, Inc.1 | 196,920 | 986,569 | ||||||
1,439,259 | ||||||||
Gas Utilities—0.2% | ||||||||
Laclede Group, Inc. (The) | 13,670 | 452,887 | ||||||
New Jersey Resources Corp. | 44,990 | 1,666,430 | ||||||
Nicor, Inc. | 30,540 | 1,057,295 | ||||||
Northwest Natural Gas Co. | 9,410 | 417,051 | ||||||
Piedmont Natural Gas Co., Inc. | 23,460 | 565,621 | ||||||
South Jersey Industries, Inc. | 15,220 | 531,026 | ||||||
Southwest Gas Corp. | 14,060 | 312,273 | ||||||
WGL Holdings, Inc. | 29,480 | 943,950 | ||||||
5,946,533 | ||||||||
Multi-Utilities—0.3% | ||||||||
Avista Corp. | 201,391 | 3,586,774 | ||||||
Black Hills Corp. | 51,970 | 1,194,790 | ||||||
CH Energy Group, Inc. | 66,064 | 3,085,189 | ||||||
DTE Energy Co. | 10,820 | 346,240 | ||||||
NorthWestern Corp. | 6,695 | 152,378 | ||||||
PNM Resources, Inc. | 94,915 | 1,016,540 | ||||||
9,381,911 | ||||||||
Water Utilities—0.1% | ||||||||
California Water Service Group | 6,200 | 228,408 | ||||||
Cascal NV | 225,869 | 847,009 | ||||||
SJW Corp. | 55,070 | 1,250,089 | ||||||
2,325,506 | ||||||||
Total Common Stocks (Cost $3,465,211,295) | 3,198,719,015 | |||||||
Units | ||||||||
Rights, Warrants and Certificates—0.0% | ||||||||
Redcorp Ventures Ltd. Wts., Strike Price 0.65CAD, Exp. 7/5/091,3 (Cost $0) | 2,251,450 | — |
F28 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Principal | ||||||||
Amount | Value | |||||||
Asset-Backed Securities—0.6% | ||||||||
Carrington Mortgage Loan Trust, Home Equity Asset-Backed Pass-Through Certificates, Series 2007 RFC1, Cl. A1, 0.364%, 12/25/365 | $ | 11,378,282 | $ | 8,427,721 | ||||
GSAA Home Equity Trust 2005-15, Asset-Backed Certificates, Series 2005-15, Cl. 2A1, 0.404%, 1/25/365 | 1,369,092 | 1,146,426 | ||||||
Home Equity Asset Trust 2006-6, Home Equity Pass-Through Certificates, Series 2006-6, Cl. 2A1, 0.374%, 11/25/365 | 994,396 | 967,717 | ||||||
Morgan Stanley ABS Capital I Inc. Trust 2007-NC2, Mtg. Pass-Through Certificates, Series 2007-NC2, Cl. A2A, 0.424%, 2/25/375 | 7,649,950 | 5,608,490 | ||||||
Option One Mortgage Loan Trust 2007-2, Asset-Backed Certificates, Series 2007-2, Cl. 3A1, 0.404%, 3/25/375 | 4,239,320 | 3,706,874 | ||||||
Total Asset-Backed Securities (Cost $25,631,040) | 19,857,228 | |||||||
Shares | Value | |||||||
Investment Companies—3.7% | ||||||||
Allied Capital Corp. | 358,170 | 1,246,386 | ||||||
Apollo Investment Corp. | 607,630 | 3,645,780 | ||||||
Ares Capital Corp. | 43,830 | 353,270 | ||||||
Gladstone Capital Corp. | 12,361 | 93,078 | ||||||
Hercules Technology Growth Capital, Inc. | 117,590 | $ | 983,052 | |||||
JPMorgan U.S. Treasury Plus Money Market Fund, Agency Shares, 0.00%6,9 | 3,864,072 | 3,864,072 | ||||||
MCG Capital Corp. | 67,141 | 163,153 | ||||||
NGP Capital Resources Co. | 15,990 | 93,861 | ||||||
Oppenheimer Institutional Money Market Fund, Cl. E, 0.48%6,7 | 111,309,371 | 111,309,371 | ||||||
PennantPark Investment Corp. | 8,192 | 58,163 | ||||||
Prospect Capital Corp. | 115,600 | 1,063,520 | ||||||
Total Investment Companies (Cost $120,513,395) | 122,873,706 | |||||||
Total Investments, at Value (excluding Investments Purchased with Cash Collateral from Securities Loaned) (Cost $3,611,355,730) | 3,341,449,949 | |||||||
Investments Purchased with Cash Collateral from Securities Loaned—0.0%8 | ||||||||
OFI Liquid Assets Fund, LLC, 1.02%6,7 (Cost $166,725) | 166,725 | 166,725 | ||||||
Total Investments, at Value (Cost $3,611,522,455) | 100.3 | % | 3,341,616,674 | |||||
Liabilities in Excess of Other Assets | (0.3 | ) | (10,705,999 | ) | ||||
Net Assets | 100.0 | % | $ | 3,330,910,675 | ||||
Footnotes to Statement of Investments
Strike price is reported in U.S. Dollars, except for those denoted in the following currency:
CAD Canadian Dollar
CAD Canadian Dollar
1. | Non-income producing security. | |
2. | 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 $907,961 or 0.03% of the Fund’s net assets as of June 30, 2009. |
F29 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF INVESTMENTS Continued
Footnotes to Statement of Investments Continued
3. | Illiquid security. The aggregate value of illiquid securities as of June 30, 2009 was $2,277, which represents less than 0.005% of the Fund’s net assets. See Note 6 of accompanying Notes. | |
4. | Partial or fully-loaned security. See Note 7 of accompanying Notes. | |
5. | Represents the current interest rate for a variable or increasing rate security. | |
6. | Rate shown is the 7-day yield as of June 30, 2009. | |
7. | Is or was an affiliate, as defined in the Investment Company Act of 1940, at or during the period ended June 30, 2009, by virtue of the Fund owning at least 5% of the voting securities of the issuer or as a result of the Fund and the issuer having the same investment adviser. Transactions during the period in which the issuer was an affiliate are as follows: |
Shares | Gross | Gross | Shares | |||||||||||||
June 30, 2008 | Additions | Reductions | June 30, 2009 | |||||||||||||
OFI Liquid Assets Fund, LLC | — | 3,968,102,264 | 3,967,935,539 | 166,725 | ||||||||||||
Oppenheimer Institutional Money Market Fund, Cl. E | 38,604,527 | 1,115,041,403 | 1,042,336,559 | 111,309,371 |
Value | Income | |||||||
OFI Liquid Assets Fund, LLC | $ | 166,725 | $ | 9,712,204 | a | |||
Oppenheimer Institutional Money Market Fund, Cl. E | 111,309,371 | 683,347 | ||||||
$ | 111,476,096 | $ | 10,395,551 | |||||
a. | Net of compensation to the securities lending agent and rebates paid to the borrowing counterparties. |
8. | The security/securities have been segregated to satisfy the forward commitment to return the cash collateral received in securities lending transactions upon the borrower’s return of the securities loaned. See Note 7 of accompanying Notes. | |
9. | Interest rate less than 0.0005%. |
Valuation Inputs
Various data inputs are used in determining the value of each of the Fund’s investments as of the reporting period end. These data inputs are categorized in the following hierarchy under applicable financial accounting standards:
1) | Level 1—unadjusted quoted prices in active markets for identical assets or liabilities (including securities actively traded on a securities exchange) | ||
2) | Level 2—inputs other than unadjusted quoted prices that are observable for the asset (such as unadjusted quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.) | ||
3) | Level 3—unobservable inputs (including the Manager’s own judgments about assumptions that market participants would use in pricing the asset). |
The table below categorizes amounts that are included in the Fund’s Statement of Assets and Liabilities as of June 30, 2009 based on valuation input level:
Level 3– | ||||||||||||||||
Level 1– | Level 2– | Significant | ||||||||||||||
Unadjusted | Other Significant | Unobservable | ||||||||||||||
Quoted prices | Observable Inputs | Inputs | Value | |||||||||||||
Assets Table | ||||||||||||||||
Investments, at Value: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Consumer Discretionary | $ | 531,432,200 | $ | — | $ | — | $ | 531,432,200 | ||||||||
Consumer Staples | 89,231,348 | — | — | 89,231,348 | ||||||||||||
Energy | 188,925,047 | — | — | 188,925,047 | ||||||||||||
Financials | 476,506,063 | 2,136 | — | 476,508,199 | ||||||||||||
Health Care | 349,221,667 | — | 141 | 349,221,808 | ||||||||||||
Industrials | 589,941,343 | — | — | 589,941,343 | ||||||||||||
Information Technology | 714,748,988 | 10,341 | — | 714,759,329 | ||||||||||||
Materials | 182,519,192 | — | — | 182,519,192 |
F30 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Level 3– | ||||||||||||||||
Level 1– | Level 2– | Significant | ||||||||||||||
Unadjusted | Other Significant | Unobservable | ||||||||||||||
Quoted prices | Observable Inputs | Inputs | Value | |||||||||||||
Investments, at Value: Continued | ||||||||||||||||
Telecommunication Services | $ | 49,125,640 | $ | — | $ | — | $ | 49,125,640 | ||||||||
Utilities | 27,054,909 | — | — | 27,054,909 | ||||||||||||
Rights, Warrants and Certificates | — | — | — | — | ||||||||||||
Asset-Backed Securities | — | 19,857,228 | — | 19,857,228 | ||||||||||||
Investment Companies | 122,873,706 | — | — | 122,873,706 | ||||||||||||
Investments Purchased with Cash Collateral from Securities Loaned | 166,725 | — | — | 166,725 | ||||||||||||
Total Investments, at Value | 3,321,746,828 | 19,869,705 | 141 | 3,341,616,674 | ||||||||||||
Other Financial Instruments: | ||||||||||||||||
Foreign currency exchange contracts | — | 5,328 | — | 5,328 | ||||||||||||
Total Assets | $ | 3,321,746,828 | $ | 19,875,033 | $ | 141 | $ | 3,341,622,002 | ||||||||
Currency contracts and forwards, if any, are reported at their unrealized appreciation/depreciation at measurement date, which represents the change in the contract’s value from trade date. Futures, if any, are reported at their variation margin at measurement date, which represents the amount due to/from the Fund at that date. All additional assets and liabilities included in the above table are reported at their market value at measurement date.
See the accompanying Notes for further discussion of the methods used in determining value of the Fund’s investments, and a summary of changes to the valuation techniques, if any, during the reporting period.
Foreign Currency Exchange Contracts as of June 30, 2009 are as follows:
Counterparty/ | Contract Amount | Expiration | Unrealized | |||||||||||||||||
Contract Description | Buy/Sell | (000’s) | Date | Value | Appreciation | |||||||||||||||
JP Morgan Chase | ||||||||||||||||||||
Canadian Dollar (CAD) | Sell | 591 | CAD | 7/2/09 | $ | 508,172 | $ | 5,328 |
See accompanying Notes to Financial Statements.
F31 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF ASSETS AND LIABILITIES June 30, 2009
Assets | ||||
Investments, at value—see accompanying statement of investments: | ||||
Unaffiliated companies (cost $3,500,046,359) | $ | 3,230,140,578 | ||
Affiliated companies (cost $111,476,096) | 111,476,096 | |||
3,341,616,674 | ||||
Cash | 180,000 | |||
Unrealized appreciation on foreign currency exchange contracts | 5,328 | |||
Receivables and other assets: | ||||
Investments sold | 269,137,918 | |||
Interest and dividends | 2,196,133 | |||
Shares of beneficial interest sold | 1,190,732 | |||
Other | 399,973 | |||
Total assets | 3,614,726,758 | |||
Liabilities | ||||
Return of collateral for securities loaned | 166,725 | |||
Payables and other liabilities: | ||||
Investments purchased | 274,685,153 | |||
Shares of beneficial interest redeemed | 6,315,209 | |||
Distribution and service plan fees | 1,525,164 | |||
Transfer and shareholder servicing agent fees | 655,818 | |||
Shareholder communications | 362,306 | |||
Trustees’ compensation | 30,962 | |||
Other | 74,746 | |||
Total liabilities | 283,816,083 | |||
Net Assets | $ | 3,330,910,675 | ||
Composition of Net Assets | ||||
Par value of shares of beneficial interest | $ | 243,586 | ||
Additional paid-in capital | 5,189,308,435 | |||
Accumulated net investment income | 10,948,215 | |||
Accumulated net realized loss on investments and foreign currency transactions | (1,599,685,120 | ) | ||
Net unrealized depreciation on investments and translation of assets and liabilities denominated in foreign currencies | (269,904,441 | ) | ||
Net Assets | $ | 3,330,910,675 | ||
F32 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Net Asset Value Per Share | ||||
Class A Shares: | ||||
Net asset value and redemption price per share (based on net assets of $1,804,701,671 and 131,712,847 shares of beneficial interest outstanding) | $ | 13.70 | ||
Maximum offering price per share (net asset value plus sales charge of 5.75% of offering price) | $ | 14.54 | ||
Class B Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $132,615,040 and 10,643,618 shares of beneficial interest outstanding) | $ | 12.46 | ||
Class C Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $310,093,775 and 24,757,133 shares of beneficial interest outstanding) | $ | 12.53 | ||
Class N Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $205,573,651 and 15,436,356 shares of beneficial interest outstanding) | $ | 13.32 | ||
Class Y Shares: | ||||
Net asset value, redemption price and offering price per share (based on net assets of $877,926,538 and 61,035,768 shares of beneficial interest outstanding) | $ | 14.38 |
See accompanying Notes to Financial Statements.
F33 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENT OF OPERATIONS For the Year Ended June 30, 2009
Investment Income | ||||
Dividends: | ||||
Unaffiliated companies (net of foreign withholding taxes of $58,166) | $ | 54,990,690 | ||
Affiliated companies | 683,347 | |||
Income from investment of securities lending cash collateral, net: | ||||
Unaffiliated companies | 4,315,866 | |||
Affiliated companies | 9,712,204 | |||
Interest | 116,605 | |||
Other income | 60,364 | |||
Total investment income | 69,879,076 | |||
Expenses | ||||
Management fees | 24,035,388 | |||
Distribution and service plan fees: | ||||
Class A | 5,566,503 | |||
Class B | 1,606,117 | |||
Class C | 3,421,166 | |||
Class N | 1,049,770 | |||
Transfer and shareholder servicing agent fees: | ||||
Class A | 10,843,405 | |||
Class B | 861,824 | |||
Class C | 1,465,068 | |||
Class N | 1,366,425 | |||
Class Y | 2,067,963 | |||
Shareholder communications: | ||||
Class A | 282,874 | |||
Class B | 85,942 | |||
Class C | 65,316 | |||
Class N | 18,231 | |||
Class Y | 277,445 | |||
Trustees’ compensation | 108,544 | |||
Custodian fees and expenses | 26,600 | |||
Other | 345,707 | |||
Total expenses | 53,494,288 | |||
Less reduction to custodian expenses | (8,846 | ) | ||
Less waivers and reimbursements of expenses | (4,834,490 | ) | ||
Net expenses | 48,650,952 | |||
Net Investment Income | 21,228,124 |
F34 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investments from unaffiliated companies | $ | (1,176,483,499 | ) | |
Foreign currency transactions | 198,001 | |||
Net realized loss | (1,176,285,498 | ) | ||
Net change in unrealized depreciation on: | ||||
Investments | (270,820,034 | ) | ||
Translation of assets and liabilities denominated in foreign currencies | (3,256,657 | ) | ||
Net change in unrealized depreciation | (274,076,691 | ) | ||
Net Decrease in Net Assets Resulting from Operations | $ | (1,429,134,065 | ) | |
See accompanying Notes to Financial Statements.
F35 | OPPENHEIMER MAIN STREET SMALL CAP FUND
STATEMENTS OF CHANGES IN NET ASSETS
Year Ended June 30, | 2009 | 2008 | ||||||
Operations | ||||||||
Net investment income (loss) | $ | 21,228,124 | $ | (14,020,447 | ) | |||
Net realized loss | (1,176,285,498 | ) | (259,781,921 | ) | ||||
Net change in unrealized appreciation (depreciation) | (274,076,691 | ) | (908,918,421 | ) | ||||
Net decrease in net assets resulting from operations | (1,429,134,065 | ) | (1,182,720,789 | ) | ||||
Dividends and/or Distributions to Shareholders | ||||||||
Dividends from net investment income: | ||||||||
Class A | — | (8,491,179 | ) | |||||
Class B | — | — | ||||||
Class C | — | — | ||||||
Class N | — | — | ||||||
Class Y | (2,104,629 | ) | (4,176,920 | ) | ||||
(2,104,629 | ) | (12,668,099 | ) | |||||
Tax return of capital distribution from net investment income: | ||||||||
Class A | — | (42,889 | ) | |||||
Class B | — | — | ||||||
Class C | — | — | ||||||
Class N | — | — | ||||||
Class Y | — | (21,097 | ) | |||||
— | (63,986 | ) | ||||||
Distributions from net realized gain: | ||||||||
Class A | (4,611,189 | ) | (340,286,746 | ) | ||||
Class B | (363,922 | ) | (37,088,720 | ) | ||||
Class C | (784,203 | ) | (61,718,249 | ) | ||||
Class N | (461,487 | ) | (27,521,324 | ) | ||||
Class Y | (1,972,303 | ) | (59,781,758 | ) | ||||
(8,193,104 | ) | (526,396,797 | ) | |||||
Tax return of capital distribution from net realized gain: | ||||||||
Class A | — | (2,724,625 | ) | |||||
Class B | — | (296,964 | ) | |||||
Class C | — | (494,169 | ) | |||||
Class N | — | (220,359 | ) | |||||
Class Y | — | (478,664 | ) | |||||
— | (4,214,781 | ) | ||||||
Beneficial Interest Transactions | ||||||||
Net increase (decrease) in net assets resulting from beneficial interest transactions: | ||||||||
Class A | (596,719,102 | ) | 649,537,948 | |||||
Class B | (66,015,111 | ) | (94,267,351 | ) | ||||
Class C | (69,016,845 | ) | (9,343,656 | ) | ||||
Class N | (2,643,071 | ) | 64,382,658 | |||||
Class Y | 137,113,629 | 428,176,067 | ||||||
(597,280,500 | ) | 1,038,485,666 |
F36 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Year Ended June 30, | 2009 | 2008 | ||||||
Net Assets | ||||||||
Total decrease | $ | (2,036,712,298 | ) | $ | (687,578,786 | ) | ||
Beginning of period | 5,367,622,973 | 6,055,201,759 | ||||||
End of period (including accumulated net investment income (loss) of $10,948,215 and $(254,076), respectively) | $ | 3,330,910,675 | $ | 5,367,622,973 | ||||
See accompanying Notes to Financial Statements.
F37 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FINANCIAL HIGHLIGHTS
Class A Year Ended June 30, | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 17.87 | $ | 24.25 | $ | 22.27 | $ | 20.17 | $ | 19.52 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss)1 | .08 | (.04 | ) | .08 | (.02 | ) | (.04 | ) | ||||||||||||
Net realized and unrealized gain (loss) | (4.22 | ) | (4.28 | ) | 3.45 | 3.59 | 2.65 | |||||||||||||
Total from investment operations | (4.14 | ) | (4.32 | ) | 3.53 | 3.57 | 2.61 | |||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | — | (.05 | ) | — | — | — | ||||||||||||||
Distributions from net realized gain | (.03 | ) | (2.00 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Tax return of capital distribution from net investment income | — | — | 2 | — | — | — | ||||||||||||||
Tax return of capital distribution from net realized gain | — | (.01 | ) | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (.03 | ) | (2.06 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Net asset value, end of period | $ | 13.70 | $ | 17.87 | $ | 24.25 | $ | 22.27 | $ | 20.17 | ||||||||||
Total Return, at Net Asset Value3 | (23.14 | )% | (18.66 | )% | 16.48 | % | 18.22 | % | 13.82 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 1,804,702 | $ | 3,304,735 | $ | 3,766,574 | $ | 2,584,254 | $ | 1,557,307 | ||||||||||
Average net assets (in thousands) | $ | 2,231,028 | $ | 3,576,817 | $ | 3,086,495 | $ | 2,040,757 | $ | 1,325,846 | ||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||
Net investment income (loss) | 0.58 | % | (0.17 | )% | 0.35 | % | (0.07 | )% | (0.20 | )% | ||||||||||
Total expenses | 1.38 | %5 | 1.19 | %5 | 1.12 | %5 | 1.15 | % | 1.19 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.22 | % | 1.19 | % | 1.12 | % | 1.15 | % | 1.19 | % | ||||||||||
Portfolio turnover rate | 95 | % | 134 | % | 114 | % | 102 | % | 132 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Less than $0.005 per share. | |
3. | Assumes an 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. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended June 30, 2009 | 1.38 | % | ||
Year Ended June 30, 2008 | 1.19 | % | ||
Year Ended June 30, 2007 | 1.12 | % |
See accompanying Notes to Financial Statements.
F38 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Class B Year Ended June 30, | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 16.39 | $ | 22.53 | $ | 20.94 | $ | 19.19 | $ | 18.79 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment loss1 | (.03 | ) | (.17 | ) | (.10 | ) | (.18 | ) | (.18 | ) | ||||||||||
Net realized and unrealized gain (loss) | (3.87 | ) | (3.96 | ) | 3.24 | 3.40 | 2.54 | |||||||||||||
Total from investment operations | (3.90 | ) | (4.13 | ) | 3.14 | 3.22 | 2.36 | |||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | — | — | — | — | — | |||||||||||||||
Distributions from net realized gain | (.03 | ) | (2.00 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Tax return of capital distribution from net investment income | — | — | — | — | — | |||||||||||||||
Tax return of capital distribution from net realized gain | — | (.01 | ) | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (.03 | ) | (2.01 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Net asset value, end of period | $ | 12.46 | $ | 16.39 | $ | 22.53 | $ | 20.94 | $ | 19.19 | ||||||||||
Total Return, at Net Asset Value2 | (23.77 | )% | (19.25 | )% | 15.63 | % | 17.29 | % | 12.98 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 132,615 | $ | 261,085 | $ | 473,768 | $ | 501,742 | $ | 510,183 | ||||||||||
Average net assets (in thousands) | $ | 160,939 | $ | 357,794 | $ | 479,042 | $ | 512,657 | $ | 490,050 | ||||||||||
Ratios to average net assets:3 | ||||||||||||||||||||
Net investment loss | (0.21 | )% | (0.89 | )% | (0.46 | )% | (0.85 | )% | (0.98 | )% | ||||||||||
Total expenses | 2.22 | %4 | 1.92 | %4 | 1.89 | %4 | 1.92 | % | 1.97 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 2.02 | % | 1.92 | % | 1.89 | % | 1.92 | % | 1.97 | % | ||||||||||
Portfolio turnover rate | 95 | % | 134 | % | 114 | % | 102 | % | 132 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Assumes an 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. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended June 30, 2009 | 2.22 | % | ||
Year Ended June 30, 2008 | 1.92 | % | ||
Year Ended June 30, 2007 | 1.89 | % |
See accompanying Notes to Financial Statements.
F39 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FINANCIAL HIGHLIGHTS Continued
Class C Year Ended June 30, | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 16.47 | $ | 22.62 | $ | 21.01 | $ | 19.24 | $ | 18.82 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment loss1 | (.02 | ) | (.16 | ) | (.08 | ) | (.16 | ) | (.17 | ) | ||||||||||
Net realized and unrealized gain (loss) | (3.89 | ) | (3.98 | ) | 3.24 | 3.40 | 2.55 | |||||||||||||
Total from investment operations | (3.91 | ) | (4.14 | ) | 3.16 | 3.24 | 2.38 | |||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | — | — | — | — | — | |||||||||||||||
Distributions from net realized gain | (.03 | ) | (2.00 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Tax return of capital distribution from net investment income | — | — | — | — | — | |||||||||||||||
Tax return of capital distribution from net realized gain | — | (.01 | ) | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (.03 | ) | (2.01 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Net asset value, end of period | $ | 12.53 | $ | 16.47 | $ | 22.62 | $ | 21.01 | $ | 19.24 | ||||||||||
Total Return, at Net Asset Value2 | (23.72 | )% | (19.21 | )% | 15.68 | % | 17.35 | % | 13.07 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 310,094 | $ | 505,404 | $ | 710,808 | $ | 600,331 | $ | 473,099 | ||||||||||
Average net assets (in thousands) | $ | 342,312 | $ | 602,381 | $ | 645,637 | $ | 543,420 | $ | 433,888 | ||||||||||
Ratios to average net assets:3 | ||||||||||||||||||||
Net investment loss | (0.18 | )% | (0.86 | )% | (0.39 | )% | (0.79 | )% | (0.91 | )% | ||||||||||
Total expenses | 2.08 | %4 | 1.88 | %4 | 1.84 | %4 | 1.87 | % | 1.90 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.98 | % | 1.88 | % | 1.84 | % | 1.87 | % | 1.90 | % | ||||||||||
Portfolio turnover rate | 95 | % | 134 | % | 114 | % | 102 | % | 132 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Assumes an 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. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended June 30, 2009 | 2.08 | % | ||
Year Ended June 30, 2008 | 1.88 | % | ||
Year Ended June 30, 2007 | 1.84 | % |
See accompanying Notes to Financial Statements.
F40 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Class N Year Ended June 30, | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 17.42 | $ | 23.70 | $ | 21.87 | $ | 19.90 | $ | 19.33 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income (loss)1 | .04 | (.09 | ) | .01 | (.09 | ) | (.10 | ) | ||||||||||||
Net realized and unrealized gain (loss) | (4.11 | ) | (4.18 | ) | 3.37 | 3.53 | 2.63 | |||||||||||||
Total from investment operations | (4.07 | ) | (4.27 | ) | 3.38 | 3.44 | 2.53 | |||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | — | — | — | — | — | |||||||||||||||
Distributions from net realized gain | (.03 | ) | (2.00 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Tax return of capital distribution from net investment income | — | — | — | — | — | |||||||||||||||
Tax return of capital distribution from net realized gain | — | (.01 | ) | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (.03 | ) | (2.01 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Net asset value, end of period | $ | 13.32 | $ | 17.42 | $ | 23.70 | $ | 21.87 | $ | 19.90 | ||||||||||
Total Return, at Net Asset Value2 | (23.34 | )% | (18.87 | )% | 16.08 | % | 17.79 | % | 13.53 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 205,574 | $ | 275,975 | $ | 300,360 | $ | 192,089 | $ | 129,631 | ||||||||||
Average net assets (in thousands) | $ | 210,488 | $ | 289,699 | $ | 245,298 | $ | 162,869 | $ | 105,497 | ||||||||||
Ratios to average net assets:3 | ||||||||||||||||||||
Net investment income (loss) | 0.31 | % | (0.47 | )% | 0.02 | % | (0.40 | )% | (0.50 | )% | ||||||||||
Total expenses | 1.79 | %4 | 1.55 | %4 | 1.45 | %4 | 1.49 | % | 1.54 | % | ||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.49 | % | 1.48 | % | 1.45 | % | 1.48 | % | 1.50 | % | ||||||||||
Portfolio turnover rate | 95 | % | 134 | % | 114 | % | 102 | % | 132 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Assumes an 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. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended June 30, 2009 | 1.79 | % | ||
Year Ended June 30, 2008 | 1.55 | % | ||
Year Ended June 30, 2007 | 1.45 | % |
See accompanying Notes to Financial Statements.
F41 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FINANCIAL HIGHLIGHTS Continued
Class Y Year Ended June 30, | 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||||||
Per Share Operating Data | ||||||||||||||||||||
Net asset value, beginning of period | $ | 18.75 | $ | 25.32 | $ | 23.09 | $ | 20.76 | $ | 19.94 | ||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||
Net investment income1 | .13 | .05 | .20 | .10 | .08 | |||||||||||||||
Net realized and unrealized gain (loss) | (4.44 | ) | (4.47 | ) | 3.58 | 3.70 | 2.70 | |||||||||||||
Total from investment operations | (4.31 | ) | (4.42 | ) | 3.78 | 3.80 | 2.78 | |||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||
Dividends from net investment income | (.03 | ) | (.14 | ) | — | — | — | |||||||||||||
Distributions from net realized gain | (.03 | ) | (2.00 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Tax return of capital distribution from net investment income | — | — | 2 | — | — | — | ||||||||||||||
Tax return of capital distribution from net realized gain | — | (.01 | ) | — | — | — | ||||||||||||||
Total dividends and/or distributions to shareholders | (.06 | ) | (2.15 | ) | (1.55 | ) | (1.47 | ) | (1.96 | ) | ||||||||||
Net asset value, end of period | $ | 14.38 | $ | 18.75 | $ | 25.32 | $ | 23.09 | $ | 20.76 | ||||||||||
Total Return, at Net Asset Value3 | (22.93 | )% | (18.28 | )% | 17.00 | % | 18.83 | % | 14.41 | % | ||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 877,926 | $ | 1,020,424 | $ | 803,692 | $ | 417,656 | $ | 229,463 | ||||||||||
Average net assets (in thousands) | $ | 926,200 | $ | 746,300 | $ | 570,576 | $ | 314,236 | $ | 84,470 | ||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||
Net investment income | 0.93 | % | 0.25 | % | 0.83 | % | 0.42 | % | 0.39 | % | ||||||||||
Total expenses | 0.89 | % 5,6,7,8 | 0.76 | %5,6 | 0.66 | %5,6 | 0.66 | %6 | 0.69 | %6 | ||||||||||
Portfolio turnover rate | 95 | % | 134 | % | 114 | % | 102 | % | 132 | % |
1. | Per share amounts calculated based on the average shares outstanding during the period. | |
2. | Less than $0.005 per share. | |
3. | Assumes an 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. | Total expenses including indirect expenses from affiliated fund were as follows: |
Year Ended June 30, 2009 | 0.89 | % | ||
Year Ended June 30, 2008 | 0.76 | % | ||
Year Ended June 30, 2007 | 0.66 | % |
6. | Reduction to custodian expenses less than 0.005%. | |
7. | Voluntary waiver of transfer agent fees less than 0.005%. | |
8. | Waiver or reimbursement of indirect management fees less than 0.005%. |
See accompanying Notes to Financial Statements.
F42 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES TO FINANCIAL STATEMENTS
1. Significant Accounting Policies
Oppenheimer Main Street Small Cap Fund (the “Fund”) is an open-end management investment company registered under the Investment Company Act of 1940, as amended. The Fund’s investment objective is to seek capital appreciation. The Fund’s investment adviser is OppenheimerFunds, Inc. (the “Manager”).
The Fund offers Class A, Class B, Class C, Class N and Class Y shares. Class A shares are sold at their offering price, which is normally net asset value plus a front-end sales charge. Class B, Class C and Class N shares are sold without a front-end sales charge but may be subject to a contingent deferred sales charge (“CDSC”). Class N shares are sold only through retirement plans. Retirement plans that offer Class N shares may impose charges on those accounts. Class Y shares are sold to certain institutional investors without either a front-end sales charge or a CDSC, however, the institutional investor may impose charges on those accounts. 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, B, C and N have separate distribution and/or service plans. No such plan has been adopted for Class Y shares. Class B shares will automatically convert to Class A shares 72 months after the date of purchase.
The following is a summary of significant accounting policies consistently followed by the Fund.
Securities Valuation. The Fund calculates the net asset value of its shares as of the close of the New York Stock Exchange (the “Exchange”), normally 4:00 P.M. Eastern time, on each day the Exchange is open for trading.
Effective for fiscal periods beginning after November 15, 2007, FASB Statement of Financial Accounting Standards No. 157, Fair Value Measurements, establishes a hierarchy for measuring fair value of assets and liabilities. As required by the standard, 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. Unadjusted quoted prices in active markets for identical securities are classified as “Level 1,” inputs other than unadjusted quoted prices for an asset that are observable are classified as “Level 2” and unobservable inputs, including the Manager’s judgment about the assumptions that a market participant would use in pricing an asset or liability are classified as “Level 3.” The inputs used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. A table summarizing the Fund’s investments under these levels of classification is included following the Statement of Investments.
Securities are valued using unadjusted quoted market prices, when available, as supplied primarily either by portfolio pricing services approved by the Board of Trustees or dealers. These securities are typically classified within Level 1 or 2; however, they may be designated as Level 3 if the dealer or portfolio pricing service values a security through an internal model with significant unobservable inputs.
F43 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES TO FINANCIAL STATEMENTS Continued
1. Significant Accounting Policies Continued
Securities traded on a registered U.S. securities exchange are valued based on the last sale price of the security reported on the principal exchange on which traded, prior to the time when the Fund’s assets are valued. Securities whose principal exchange is NASDAQ® are valued based on the official closing prices reported by NASDAQ prior to the time when the Fund’s assets are valued. In the absence of a sale, the security is valued at the last sale price on the prior trading day, if it is within the spread of the current day’s closing “bid” and “asked” prices, and if not, at the current day’s closing bid price. A foreign security traded on a foreign exchange is valued based on the last sale price on the principal exchange on which the security is traded, as identified by the portfolio pricing service used by the Manager, prior to the time when the Fund’s assets are valued. In the absence of a sale, the security is valued at the most recent official closing price on the principal exchange on which it is traded.
Shares of a registered investment company that are not traded on an exchange are valued at that investment company’s net asset value per share.
Corporate, government and municipal debt instruments having a remaining maturity in excess of sixty days and all mortgage-backed securities, collateralized mortgage obligations and other asset-backed securities are valued at the mean between the “bid” and “asked” prices.
“Money market-type” debt instruments with remaining maturities of sixty days or less are valued at cost adjusted by the amortization of discount or premium to maturity (amortized cost), which approximates market value. These securities are typically designated as Level 2.
In the absence of a readily available unadjusted quoted market price, including for securities whose values have been materially affected by what the Manager identifies as a significant event occurring before the Fund’s assets are valued but after the close of the securities’ respective exchanges, the Manager, acting through its internal valuation committee, in good faith determines the fair valuation of that asset using consistently applied procedures under the supervision of the Board of Trustees (which reviews those fair valuations by the Manager). Those procedures include certain standardized methodologies to fair value securities. Such methodologies include, but are not limited to, pricing securities 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 adjusted for any discounts related to 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.
Fair valued securities may be classified as “Level 3” if the Manager’s own assumptions about the inputs that market participants would use in valuing such securities are significant to the fair value.
F44 | OPPENHEIMER MAIN STREET SMALL CAP FUND
There have been no significant changes to the fair valuation methodologies during the period.
Foreign Currency Translation. The Fund’s accounting records are maintained in U.S. dollars. The values of securities denominated in foreign currencies and amounts related to the purchase and sale of foreign securities and foreign investment income are translated into U.S. dollars as of the close of the Exchange, normally 4:00 P.M. Eastern time, on each day the Exchange is open for trading. Foreign exchange rates may be valued primarily using a reliable bank, dealer or service authorized by the Board of Trustees.
Reported net realized gains and losses from foreign currency transactions arise from sales of portfolio securities, sales and maturities of short-term securities, sales of foreign currencies, exchange rate fluctuations between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized appreciation and depreciation on the translation of assets and liabilities denominated in foreign currencies arise from changes in the values of assets and liabilities, including investments in securities at fiscal period end, resulting from changes in exchange rates.
The effect of changes in foreign currency exchange rates on investments is separately identified from the fluctuations arising from changes in market values of securities held and reported with all other foreign currency gains and losses in the Fund’s Statement of Operations.
Investment in Oppenheimer Institutional Money Market Fund. The Fund is permitted to invest daily available cash balances in an affiliated money market fund. The Fund may invest the available cash in Class E shares of Oppenheimer Institutional Money Market Fund (“IMMF”) to seek current income while preserving liquidity. IMMF is a registered open-end management investment company, regulated as a money market fund under the Investment Company Act of 1940, as amended. The Manager is also the investment adviser of IMMF. When applicable, the Fund’s investment in IMMF is included in the Statement of Investments. As a shareholder, the Fund is subject to its proportional share of IMMF’s Class E expenses, including its management fee. The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Fund’s investment in IMMF.
Investment in OFI Liquid Assets Fund, LLC. The Fund is permitted to invest cash collateral received in connection with its securities lending activities. Pursuant to the Fund’s Securities Lending Procedures, the Fund may invest cash collateral in, among other investments, an affiliated money market fund. OFI Liquid Assets Fund, LLC (“LAF”) is a limited liability company whose investment objective is to seek current income and stability of principal. The Manager is also the investment adviser of LAF. LAF is not registered under the Investment Company Act of 1940. However, LAF does comply with the investment restrictions applicable to registered money market funds set forth in Rule 2a-7 adopted
F45 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES TO FINANCIAL STATEMENTS Continued
1. Significant Accounting Policies Continued
under the Investment Company Act. When applicable, the Fund’s investment in LAF is included in the Statement of Investments. As a shareholder, the Fund is subject to its proportional share of LAF’s expenses, including its management fee of 0.08%.
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.
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, including any net realized gain on investments not offset by capital loss carryforwards, if any, 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 jurisdictions. The statute of limitations on the Fund’s tax return filings generally remain open for the three preceding fiscal reporting period ends.
The tax components of capital shown in the following table represent distribution requirements the Fund must satisfy under the income tax regulations, losses the Fund may be able to offset against income and gains realized in future years and unrealized appreciation or depreciation of securities and other investments for federal income tax purposes.
Net Unrealized | ||||||||||||||
Depreciation | ||||||||||||||
Based on Cost of | ||||||||||||||
Securities and | ||||||||||||||
Undistributed | Undistributed | Accumulated | Other Investments | |||||||||||
Net Investment | Long-Term | Loss | for Federal Income | |||||||||||
Income | Gain | Carryforward1,2,3,4 | Tax Purposes | |||||||||||
$ | 8,861,509 | $ | — | $ | 1,519,842,067 | $ | 349,746,374 |
1. | As of June 30, 2009, the Fund had $478,212,253 of net capital loss carryforwards available to offset future realized capital gains, if any, and thereby reduce future taxable gain distributions. As of June 30, 2009, details of the capital loss carryforward(s) were as follows: |
Expiring | ||||
2017 | $ | 478,212,253 |
2. | As of June 30, 2009, the Fund had $1,041,629,814 of post-October losses available to offset future realized capital gains, if any. Such losses, if unutilized, will expire in 2018. | |
3. | During the fiscal year ended June 30, 2009, the Fund did not utilize any capital loss carryforward. | |
4. | During the fiscal year ended June 30, 2008, the Fund did not utilize any capital loss carryforward. |
F46 | OPPENHEIMER MAIN STREET SMALL CAP FUND
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 may differ from their ultimate characterization for federal income tax purposes. 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.
Accordingly, the following amounts have been reclassified for June 30, 2009. Net assets of the Fund were unaffected by the reclassifications.
Reduction | Reduction | |||||||
to Accumulated | to Accumulated | |||||||
Net Investment | Net Realized Loss | |||||||
Income | on Investments | |||||||
$ | 7,921,204 | $ | 7,921,204 |
The tax character of distributions paid during the years ended June 30, 2009 and June 30, 2008 was as follows:
Year Ended | Year Ended | |||||||
June 30, 2009 | June 30, 2008 | |||||||
Distributions paid from: | ||||||||
Ordinary income | $ | 2,104,629 | $ | 89,898,083 | ||||
Long-term capital gain | 8,193,104 | 449,166,813 | ||||||
Return of capital | — | 4,278,767 | ||||||
Total | $ | 10,297,733 | $ | 543,343,663 | ||||
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 purposes as of June 30, 2009 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 | $ | 3,691,364,388 | ||
Federal tax cost of other investments | (513,500 | ) | ||
Total federal tax cost | $ | 3,690,850,888 | ||
Gross unrealized appreciation | $ | 376,767,755 | ||
Gross unrealized depreciation | (726,514,129 | ) | ||
Net unrealized depreciation | $ | (349,746,374 | ) | |
F47 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES TO FINANCIAL STATEMENTS Continued
1. Significant Accounting Policies Continued
Trustees’ Compensation. The Board of Trustees 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 Trustee 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 Trustee. The Fund purchases shares of the funds selected for deferral by the Trustee 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 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 Fund’s assets, liabilities or net investment income per share. Amounts will be deferred until distributed in accordance to the compensation deferral plan.
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. generally accepted accounting principles, are recorded on the ex-dividend date. Income and capital gain distributions, if any, are declared and paid annually or at other times as deemed necessary by the Manager.
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 market value of the securities received. Interest income is recognized on an accrual basis. Discount and premium, which are included in interest income on the Statement of Operations, are amortized or accreted daily.
Custodian Fees. “Custodian fees and expenses” in the 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 0.50%. 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 Fund’s organizational documents provide current and former trustees and officers with a limited indemnification against liabilities arising in connection
F48 | OPPENHEIMER MAIN STREET SMALL CAP FUND
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 Fund’s 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.
Other. The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America 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.
2. 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:
Year Ended June 30, 2009 | Year Ended June 30, 2008 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class A | ||||||||||||||||
Sold | 49,942,439 | $ | 681,206,394 | 74,829,572 | $ | 1,550,589,036 | ||||||||||
Dividends and/or distributions reinvested | 352,808 | 3,989,819 | 15,579,180 | 309,402,521 | ||||||||||||
Redeemed | (103,469,796 | ) | (1,281,915,315 | ) | (60,830,053 | ) | (1,210,453,609 | ) | ||||||||
Net increase (decrease) | (53,174,549 | ) | $ | (596,719,102 | ) | 29,578,699 | $ | 649,537,948 | ||||||||
Class B | ||||||||||||||||
Sold | 1,529,960 | $ | 18,573,079 | 1,965,438 | $ | 38,140,367 | ||||||||||
Dividends and/or distributions reinvested | 33,510 | 346,071 | 1,932,387 | 35,324,023 | ||||||||||||
Redeemed | (6,850,841 | ) | (84,934,261 | ) | (8,998,234 | ) | (167,731,741 | ) | ||||||||
Net decrease | (5,287,371 | ) | $ | (66,015,111 | ) | (5,100,409 | ) | $ | (94,267,351 | ) | ||||||
Class C | ||||||||||||||||
Sold | 4,856,312 | $ | 59,002,496 | 6,125,949 | $ | 116,952,215 | ||||||||||
Dividends and/or distributions reinvested | 65,707 | 682,039 | 2,924,696 | 53,726,666 | ||||||||||||
Redeemed | (10,852,643 | ) | (128,701,380 | ) | (9,789,740 | ) | (180,022,537 | ) | ||||||||
Net decrease | (5,930,624 | ) | $ | (69,016,845 | ) | (739,095 | ) | $ | (9,343,656 | ) | ||||||
Class N | ||||||||||||||||
Sold | 6,580,416 | $ | 85,074,608 | 7,050,097 | $ | 141,485,935 | ||||||||||
Dividends and/or distributions reinvested | 38,068 | 419,125 | 1,318,108 | 25,544,924 | ||||||||||||
Redeemed | (7,023,966 | ) | (88,136,804 | ) | (5,197,414 | ) | (102,648,201 | ) | ||||||||
Net increase (decrease) | (405,482 | ) | $ | (2,643,071 | ) | 3,170,791 | $ | 64,382,658 | ||||||||
F49 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES TO FINANCIAL STATEMENTS Continued
2. Shares of Beneficial Interest Continued
Year Ended June 30, 2009 | Year Ended June 30, 2008 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class Y | ||||||||||||||||
Sold | 41,571,371 | $ | 630,054,908 | 36,323,287 | $ | 751,401,917 | ||||||||||
Dividends and/or distributions reinvested | 315,754 | 3,744,848 | 2,893,650 | 60,130,048 | ||||||||||||
Redeemed | (35,277,736 | ) | (496,686,127 | ) | (16,531,004 | ) | (383,355,898 | ) | ||||||||
Net increase | 6,609,389 | $ | 137,113,629 | 22,685,933 | $ | 428,176,067 | ||||||||||
3. Purchases and Sales of Securities
The aggregate cost of purchases and proceeds from sales of securities, other than short-term obligations and investments in IMMF and LAF, for the year ended June 30, 2009, were as follows:
Purchases | Sales | |||||||
Investment securities | $ | 3,741,375,851 | $ | 4,420,370,648 |
4. 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:
Fee Schedule | ||||
Up to $200 million | 0.75 | % | ||
Next $200 million | 0.72 | |||
Next $200 million | 0.69 | |||
Next $200 million | 0.66 | |||
Next $4.2 billion | 0.60 | |||
Over $5.0 billion | 0.58 |
Transfer Agent Fees. OppenheimerFunds Services (“OFS”), a division of the Manager, acts as the transfer and shareholder servicing agent for the Fund. The Fund pays OFS a per account fee. For the year ended June 30, 2009, the Fund paid $12,627,027 to OFS for services to the Fund.
Additionally, Class Y shares are subject to minimum fees of $10,000 annually for assets of $10 million or more. The Class Y shares are subject to the minimum fees in the event that the per account fee does not equal or exceed the applicable minimum fees. OFS may voluntarily waive the minimum fees.
Distribution and Service Plan (12b-1) Fees. Under its General Distributor’s Agreement with the Fund, OppenheimerFunds Distributor, Inc. (the “Distributor”) acts as the Fund’s principal underwriter in the continuous public offering of the Fund’s classes of shares.
Service Plan for Class A Shares. The Fund has adopted a Service Plan (the “Plan”) for Class A shares under Rule 12b-1 of the Investment Company Act of 1940. Under the Plan,
F50 | OPPENHEIMER MAIN STREET SMALL CAP FUND
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 average annual 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 Statement of Operations.
Distribution and Service Plans for Class B, Class C and Class N Shares. The Fund has adopted Distribution and Service Plans (the “Plans”) for Class B, Class C and Class N shares under Rule 12b-1 of the Investment Company Act of 1940 to compensate the Distributor for its services in connection with the distribution of those shares and servicing accounts. Under the Plans, the Fund pays the Distributor an annual asset-based sales charge of 0.75% on Class B and Class C shares and 0.25% on Class N shares. The Distributor also receives a service fee of 0.25% per year under each plan. If either the Class B, Class C or Class N plan is terminated by the Fund or by the shareholders of a class, the Board of Trustees and its independent trustees must determine whether the Distributor shall be entitled to payment from the Fund of all or a portion of the service fee and/or asset-based sales charge in respect to shares sold prior to the effective date of such termination. Fees incurred by the Fund under the Plans are detailed in the Statement of Operations. The Distributor’s aggregate uncompensated expenses under the Plans at June 30, 2009 were as follows:
Class C | $ | 9,826,829 | ||
Class N | 4,749,130 |
Sales Charges. Front-end sales charges and contingent deferred sales charges (“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.
Class A | Class B | Class C | Class N | |||||||||||||||||
Class A | Contingent | Contingent | Contingent | Contingent | ||||||||||||||||
Front-End | Deferred | Deferred | Deferred | Deferred | ||||||||||||||||
Sales Charges | Sales Charges | Sales Charges | Sales Charges | Sales Charges | ||||||||||||||||
Retained by | Retained by | Retained by | Retained by | Retained by | ||||||||||||||||
Year Ended | Distributor | Distributor | Distributor | Distributor | Distributor | |||||||||||||||
June 30, 2009 | $ | 347,575 | $ | 11,853 | $ | 311,454 | $ | 30,964 | $ | 3,864 |
Waivers and Reimbursements of Expenses. OFS has voluntarily agreed to limit transfer and shareholder servicing agent fees for all classes to 0.35% of average annual net assets per class. This undertaking may be amended or withdrawn at any time.
F51 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES TO FINANCIAL STATEMENTS Continued
4. Fees and Other Transactions with Affiliates Continued
During the year ended June 30, 2009, OFS waived transfer and shareholder servicing agent fees as follows:
Class A | $ | 3,490,086 | ||
Class B | 326,383 | |||
Class C | 337,890 | |||
Class N | 634,923 | |||
Class Y | 9,079 |
The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Fund’s investment in IMMF. During the year ended June 30, 2009, the Manager waived $36,129 for IMMF management fees.
5. Foreign Currency Exchange Contracts
The Fund may enter into current and forward foreign currency exchange contracts for the purchase or sale of a foreign currency at a negotiated rate at a future date.
Foreign currency exchange contracts are reported on a schedule following the Statement of Investments. These contracts will be valued daily based upon the closing prices of the currency rates determined at the close of the Exchange as provided by a bank, dealer or pricing service. The resulting unrealized appreciation (depreciation) is reported in the Statement of Assets and Liabilities as a receivable or payable and in the 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 Statement of Operations.
The Fund has purchased and sold foreign currency exchange contracts of different currencies in order to acquire currencies to pay for related foreign securities purchase transactions, or to convert foreign currencies to U.S. dollars from related foreign securities sale transactions. These foreign currency exchange contracts are negotiated at the current spot exchange rate with settlement typically within two business days thereafter.
Additional associated risk to the Fund includes counterparty credit risk. Counterparty credit risk arises from the possibility that the counterparty will default. If the counterparty defaults, the Fund’s loss will consist of the net amount of contractual payments that the Fund has not yet received.
6. Illiquid Securities
As of June 30, 2009, investments in securities included issues that are illiquid. Investments may be illiquid because they do not have an active trading market, making it difficult to value them or dispose of them promptly at an acceptable price. The Fund will not invest more than 10% of its net assets (determined at the time of purchase and reviewed periodically) in illiquid securities. Securities that are illiquid are marked with an applicable footnote on the Statement of Investments.
F52 | OPPENHEIMER MAIN STREET SMALL CAP FUND
7. Securities Lending
The Fund lends portfolio securities from time to time in order to earn additional income in the form of fees or interest on securities received as collateral or the investment of any cash received as collateral. The loans are secured by collateral (either securities, letters of credit, or cash) in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of each business day and any additional required collateral is delivered to the Fund on the next business day. If the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, the Fund could experience delays and cost in recovering the securities loaned or in gaining access to the collateral. The Fund continues to receive the economic benefit of interest or dividends paid on the securities loaned in the form of a substitute payment received from the borrower and recognizes the gain or loss in the fair value of the securities loaned that may occur during the term of the loan. The Fund has the right under the lending agreement to recover the securities from the borrower on demand. As of June 30, 2009, the Fund had on loan securities valued at $157,524. Collateral of $166,725 was received for the loans, of which all was received in cash and subsequently invested in approved instruments.
8. Subsequent Events Evaluation
The Fund has evaluated the need for disclosures and/or adjustments resulting from subsequent events through August 17, 2009, the date the financial statements were available to be issued. This evaluation determined that there were no subsequent events that necessitated disclosures and/or adjustments.
9. Pending Litigation
During 2009, a number of complaints have been filed in federal courts against the Manager, the Distributor, and certain mutual funds (“Defendant Funds”) advised by the Manager and distributed by the Distributor—excluding the Fund. The complaints naming the Defendant Funds also name certain officers, trustees and former trustees of the respective Defendant Funds. The plaintiffs seek class action status on behalf of purchasers of shares of the respective Defendant Fund during a particular time period. The complaints against the Defendant Funds raise claims under federal securities laws alleging that, among other things, the disclosure documents of the respective Defendant Fund contained misrepresentations and omissions, that such Defendant Fund’s investment policies were not followed, and that such Defendant Fund and the other defendants violated federal securities laws and regulations. The plaintiffs seek unspecified damages, equitable relief and an award of attorneys’ fees and litigation expenses.
A complaint has been brought in state court against the Manager, the Distributor and another subsidiary of the Manager (but not against the Fund), on behalf of the Oregon College Savings Plan Trust. The complaint alleges breach of contract, breach of fiduciary
F53 | OPPENHEIMER MAIN STREET SMALL CAP FUND
NOTES TO FINANCIAL STATEMENTS Continued
9. Pending Litigation Continued
duty, negligence and violation of state securities laws, and seeks compensatory damages, equitable relief and an award of attorneys’ fees and litigation expenses.
Other complaints have been filed in 2008 and 2009 in state and federal courts, by investors who made investments through an affiliate of the Manager, against the Manager and certain of its affiliates. Those complaints relate to the alleged investment fraud perpetrated by Bernard Madoff and his firm (“Madoff ”) and allege a variety of claims, including breach of fiduciary duty, fraud, negligent misrepresentation, unjust enrichment, and violation of federal and state securities laws and regulations, among others. They seek unspecified damages, equitable relief and an award of attorneys’ fees and litigation expenses. None of the suits have named the Distributor, any of the Oppenheimer mutual funds or any of their independent Trustees or Directors. None of the Oppenheimer funds invested in any funds or accounts managed by Madoff.
The Manager believes that the lawsuits described above are without legal merit and intends to defend them vigorously. The Defendant Funds’ Boards of Trustees have also engaged counsel to defend the suits vigorously on behalf of those Funds, their boards and the Trustees named in those suits. While it is premature to render any opinion as to the likelihood of an outcome in these lawsuits, or whether any costs that the Defendant Funds may bear in defending the suits might not be reimbursed by insurance, the Manager believes that these suits should not impair the ability of the Manager or the Distributor to perform their respective duties to the Fund, and that the outcome of all of the suits together should not have any material effect on the operations of any of the Oppenheimer Funds.
F54 | OPPENHEIMER MAIN STREET SMALL CAP FUND
REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
The Board of Trustees and Shareholders of
Oppenheimer Main Street Small Cap Fund:
Oppenheimer Main Street Small Cap Fund:
We have audited the accompanying statement of assets and liabilities of Oppenheimer Main Street Small Cap Fund, including the statement of investments, as of June 30, 2009, and the related statements of operations and changes in net assets and the financial highlights for the year then ended. These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audit. The accompanying financial statements and financial highlights of Oppenheimer Main Street Small Cap Fund for the years ended prior to July 1, 2008 were audited by other auditors whose report dated August 8, 2008 expressed an unqualified opinion on those statements and financial highlights.
We conducted our audit in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of June 30, 2009, by correspondence with the custodian and brokers or by other appropriate auditing procedures where replies from brokers were not received. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion.
In our opinion, the financial statements and financial highlights referred to above present fairly, in all material respects, the financial position of Oppenheimer Main Street Small Cap Fund as of June 30, 2009, and the results of its operations, the changes in its net assets and the financial highlights for the year then ended, in conformity with U.S. generally accepted accounting principles.
KPMG llp
Denver, Colorado
August 17, 2009
F55 | OPPENHEIMER MAIN STREET SMALL CAP FUND
FEDERAL INCOME TAX INFORMATION Unaudited
In early 2009, if applicable, shareholders of record received information regarding all dividends and distributions paid to them by the Fund during calendar year 2008. Regulations of the U.S. Treasury Department require the Fund to report this information to the Internal Revenue Service.
Capital gain distributions of $0.0282 per share were paid to Class A, Class B, Class C, Class N and Class Y shareholders, respectively, on December 10, 2008. Whether received in stock or in cash, the capital gain distribution should be treated by shareholders as a gain from the sale of the capital assets held for more than one year (long-term capital gains).
Dividends, if any, paid by the Fund during the fiscal year ended June 30, 2009 which are not designated as capital gain distributions should be multiplied by 100% to arrive at the amount eligible for the corporate dividend-received deduction.
A portion, if any, of the dividends paid by the Fund during the fiscal year ended June 30, 2009 which are not designated as capital gain distributions are eligible for lower individual income tax rates to the extent that the Fund has received qualified dividend income as stipulated by recent tax legislation. $42,576,302 of the Fund’s fiscal year taxable income may be eligible for the lower individual income tax rates. In early 2009, shareholders of record received information regarding the percentage of distributions that are eligible for lower individual income tax rates.
Recent tax legislation allows a regulated investment company to designate distributions not designated as capital gain distributions, as either interest related dividends or short-term capital gain dividends, both of which are exempt from the U.S. withholding tax applicable to non U.S. taxpayers. For the fiscal year ended June 30, 2009, $ 32,969 or 1.57% of the ordinary distributions paid by the Fund qualifies as an interest related dividend.
The foregoing information is presented to assist shareholders in reporting distributions received from the Fund to the Internal Revenue Service. Because of the complexity of the federal regulations which may affect your individual tax return and the many variations in state and local tax regulations, we recommend that you consult your tax advisor for specific guidance.
23 | OPPENHEIMER MAIN STREET SMALL CAP FUND
PORTFOLIO PROXY VOTING POLICIES AND PROCEDURES; UPDATES TO STATEMENTS OF INVESTMENTS Unaudited
The Fund has adopted Portfolio Proxy Voting Policies and Procedures under which the Fund votes proxies relating to securities (“portfolio proxies”) held by the Fund. A description of the Fund’s Portfolio Proxy Voting Policies and Procedures is available (i) without charge, upon request, by calling the Fund toll-free at 1.800.525.7048, (ii) on the Fund’s website at www.oppenheimerfunds.com, and (iii) on the SEC’s 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 Fund’s voting record is available (i) without charge, upon request, by calling the Fund toll-free at 1.800.525.7048, and (ii) in the
Form N-PX filing on the SEC’s website at www.sec.gov.
Form N-PX filing on the SEC’s 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 Fund’s Form N-Q filings are available on the SEC’s website at http://www.sec.gov. Those forms may be reviewed and copied at the SEC’s Public Reference Room in Washington, D.C. Information on the operation of the Public Reference Room may be obtained by calling 1-800-SEC-0330.
Householding—Delivery 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 fund’s 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, reports and privacy policy within 30 days of receiving your request to stop householding.
(225-5677). You may also notify us in writing or via email. We will begin sending you individual copies of the prospectus, reports and privacy policy within 30 days of receiving your request to stop householding.
24 | OPPENHEIMER MAIN STREET SMALL CAP FUND
TRUSTEES AND OFFICERS Unaudited
Name, Position(s) Held with the | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships | |
Fund, Length of Service, Age | Held; Number of Portfolios in the Fund Complex Currently Overseen | |
INDEPENDENT TRUSTEES | The address of each Trustee in the chart below is 6803 S. Tucson Way, Centennial, Colorado 80112-3924. Each Trustee serves for an indefinite term, or until his or her resignation, retirement, death or removal. | |
William L. Armstrong, Chairman of the Board of Trustees (since 2003), Trustee (since 1999) Age: 72 | President, Colorado Christian University (since 2006); Chairman, Cherry Creek Mortgage Company (since 1991), Chairman, Centennial State Mortgage Company (since 1994), Chairman, The El Paso Mortgage Company (since 1993); Chairman, Ambassador Media Corporation (since 1984); Chairman, Broadway Ventures (since 1984); Director of Helmerich & Payne, Inc. (oil and gas drilling/production company) (since 1992), former Director of Campus Crusade for Christ (non-profit) (1991-2008); former Director, The Lynde and Harry Bradley Foundation, Inc. (non-profit organization) (2002-2006); former Chairman of: Transland Financial Services, Inc. (private mortgage banking company) (1997- 2003), Great Frontier Insurance (1995-2000), Frontier Real Estate, Inc. (residential real estate brokerage) (1994-2000) and Frontier Title (title insurance agency) (1995-2000); former Director of the following: UNUMProvident (insurance company) (1991-2004), Storage Technology Corporation (computer equipment company) (1991-2003) and International Family Entertainment (television channel) (1992-1997); U.S. Senator (January 1979-January 1991). Oversees 38 portfolios in the OppenheimerFunds complex. | |
George C. Bowen, Trustee (since 1999) Age: 72 | Assistant Secretary and Director of Centennial Asset Management Corporation (December 1991-April 1999); President, Treasurer and Director of Centennial Capital Corporation (June 1989-April 1999); Chief Executive Officer and Director of MultiSource Services, Inc. (March 1996-April 1999); Mr. Bowen held several positions with the Manager and with subsidiary or affiliated companies of the Manager (September 1987-April 1999). Oversees 38 portfolios in the OppenheimerFunds complex. | |
Edward L. Cameron, Trustee (since 1999) Age: 70 | Member of The Life Guard of Mount Vernon (George Washington historical site) (June 2000 — June 2006); Partner of PricewaterhouseCoopers LLP (accounting firm) (July 1974-June 1999); Chairman of Price Waterhouse LLP Global Investment Management Industry Services Group (accounting firm) (July 1994-June 1998). Oversees 38 portfolios in the OppenheimerFunds complex. | |
Jon S. Fossel, Trustee (since 1999) Age: 67 | Chairman of the Board (since 2006) and Director (since June 2002) of UNUMProvident (insurance company); Director of Northwestern Energy Corp. (public utility corporation) (since November 2004); Director of P. R. Pharmaceuticals (October 1999-October 2003); Director of Rocky Mountain Elk Foundation (non-profit organization) (February 1998-February 2003 and February 2005-February 2007); Chairman and Director (until October 1996) and President and Chief Executive Officer (until October 1995) of the Manager; President, Chief Executive Officer and Director of the following: Oppenheimer Acquisition Corp. (“OAC”) (parent holding company of the Manager), Shareholders Services, Inc. and Shareholder Financial Services, Inc. (until October 1995). Oversees 38 portfolios in the OppenheimerFunds complex. | |
Sam Freedman, Trustee (since 1999) Age: 68 | Director of Colorado UpLIFT (charitable organization) (since September 1984). Mr. Freedman held several positions with the Manager and with subsidiary or affiliated companies of the Manager (until October 1994). Oversees 38 portfolios in the OppenheimerFunds complex. |
25 | OPPENHEIMER MAIN STREET SMALL CAP FUND
TRUSTEES AND OFFICERS Unaudited / Continued
Name, Position(s) Held with the | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships | |
Fund, Length of Service, Age | Held; Number of Portfolios in the Fund Complex Currently Overseen | |
Beverly L. Hamilton, Trustee (since 2002) Age: 62 | Trustee of Monterey Institute for International Studies (educational organization) (since February 2000); Board Member of Middlebury College (educational organization) (since December 2005); Director of The California Endowment (philanthropic organization) (April 2002-April 2008); Director (February 2002-2005) and Chairman of Trustees (2006-2007) of the Community Hospital of Monterey Peninsula; Director (October 1991-2005) and Vice Chairman (since 2006) of American Funds’ Emerging Markets Growth Fund, Inc. (mutual fund); President of ARCO Investment Management Company (February 1991-April 2000); Member of the investment committees of The Rockefeller Foundation (2001-2006) and The University of Michigan (since 2000); Advisor at Credit Suisse First Boston’s Sprout venture capital unit (venture capital fund) (1994-January 2005); Trustee of MassMutual Institutional Funds (investment company) (1996-June 2004); Trustee of MML Series Investment Fund (investment company) (April 1989-June 2004); Member of the investment committee of Hartford Hospital (2000-2003); and Advisor to Unilever (Holland) pension fund (2000-2003). Oversees 38 portfolios in the OppenheimerFunds complex. | |
Robert J. Malone, Trustee (since 2002) Age: 64 | Board of Directors of Opera Colorado Foundation (non-profit organization) (since March 2008); Director of Jones Knowledge, Inc. (since 2006); Director of Jones International University (educational organization) (since August 2005); Chairman, Chief Executive Officer and Director of Steele Street Bank & Trust (commercial banking) (since August 2003); Director of Colorado UpLIFT (charitable organization) (since 1986); Trustee of the Gallagher Family Foundation (non-profit organization) (since 2000); Former Chairman of U.S. Bank-Colorado (subsidiary of U.S. Bancorp and formerly Colorado National Bank) (July 1996-April 1999); Director of Commercial Assets, Inc. (real estate investment trust) (1993-2000); Director of Jones Knowledge, Inc. (2001-July 2004); and Director of U.S. Exploration, Inc. (oil and gas exploration) (1997-February 2004). Oversees 38 portfolios in the OppenheimerFunds complex. | |
F. William Marshall, Jr., Trustee (since 2000) Age: 67 | Trustee Emeritas of Worcester Polytech Institute (WPI) (private university) (since 2009); Trustee of MassMutual Select Funds (formerly MassMutual Institutional Funds) (investment company) (since 1996) and MML Series Investment Fund (investment company) (since 1996); President and Treasurer of the SIS Funds (private charitable fund) (since January 1999); Former Trustee of WPI (1985- 2008); Former Chairman of the Board (2004-2006) and Former Chairman of the Investment Committee of WPI (1994-2008); Chairman of SIS & Family Bank, F.S.B. (formerly SIS Bank) (commercial bank) (January 1999-July 1999); Executive Vice President of Peoples Heritage Financial Group, Inc. (commercial bank) (January 1999-July 1999); and Former President and Chief Executive Officer of SIS Bancorp. (1993-1999). Oversees 40 portfolios in the OppenheimerFunds complex. | |
INTERESTED TRUSTEE AND OFFICER | The address of Mr. Murphy is Two World Financial Center, 225 Liberty Street, 11th Floor, New York, New York 10281-1008. Mr. Murphy serves as a Trustee for an indefinite term, or until his resignation, retirement, death or removal and as an Officer for an indefinite term, or until his resignation, retirement, death or removal. Mr. Murphy is an interested Trustee due to his positions with OppenheimerFunds, Inc. and its affiliates. | |
John V. Murphy, Trustee, President and Principal Executive Officer (since 2001) Age: 59 | Chairman and Director of the Manager (since June 2001); Chief Executive Officer of the Manager (June 2001-December 2008); President of the Manager (September 2000-February 2007); President and director or trustee of other Oppenheimer funds; President and Director of Oppenheimer Acquisition Corp. (“OAC”) (the Manager’s parent holding company) and of Oppenheimer Partnership Holdings, Inc. (holding company subsidiary of the Manager) |
26 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Name, Position(s) Held with the | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships | |
Fund, Length of Service, Age | Held; Number of Portfolios in the Fund Complex Currently Overseen | |
John V. Murphy, Continued | (since July 2001); Director of OppenheimerFunds Distributor, Inc. (subsidiary of the Manager) (November 2001-December 2006); Chairman and Director of Shareholder Services, Inc. and of Shareholder Financial Services, Inc. (transfer agent subsidiaries of the Manager) (since July 2001); President and Director of OppenheimerFunds Legacy Program (charitable trust program established by the Manager) (since July 2001); Director of the following investment advisory subsidiaries of the Manager: OFI Institutional Asset Management, Inc., Centennial Asset Management Corporation and Trinity Investment Management Corporation (since November 2001), HarbourView Asset Management Corporation and OFI Private Investments, Inc. (since July 2001); President (since November 2001) and Director (since July 2001) of Oppenheimer Real Asset Management, Inc.; Executive Vice President of Massachusetts Mutual Life Insurance Company (OAC’s parent company) (since February 1997); Director of DLB Acquisition Corporation (holding company parent of Babson Capital Management LLC) (since June 1995); Chairman (since October 2007) and Member of the Investment Company Institute’s Board of Governors (since October 2003). Oversees 102 portfolios in the OppenheimerFunds complex. | |
OTHER OFFICERS OF THE FUND | The addresses of the Officers in the chart below are as follows: for Messrs. Ziehl, Vardharaj and Zack, Two World Financial Center, 225 Liberty Street, New York, New York 10281-1008, for Messrs. Vandehey and Wixted, 6803 S. Tucson Way, Centennial, Colorado 80112-3924. Each Officer serves for an indefinite term or until his or her resignation, retirement, death or removal. | |
Matthew P. Ziehl, Vice President and Portfolio Manager (since 2009) Age: 42 | Vice President of the Manager (since May 2009). Prior to joining the Manager, a portfolio manager with RS Investment Management Co. LLC (October 2006-May 2009); a managing director at The Guardian Life Insurance Company of America (December 2001-October 2006) when Guardian Life Insurance acquired an interest in RS Investment Management Co. LLC; a team leader and co-portfolio manager with Salomon Brothers Asset Management, Inc. for small growth portfolios (January 2001-December 2001). A portfolio manager and officer of 2 portfolios in the OppenheimerFunds complex. | |
Raman Vardharaj, Vice President and Portfolio Manager (since 2009) Age: 38 | Vice President of the Manager (since May 2009). Prior to joining the Manager, a sector manager and a senior quantitative analyst creating stock selection models, monitoring portfolio risks and analyzing portfolio performance across the RS Core Equity Team of RS Investment Management Co. LLC (October 2006-May 2009); a quantitative analyst at The Guardian Life Insurance Company of America (1998-October 2006) when Guardian Life Insurance acquired an interest in RS Investment Management Co. LLC. A portfolio manager and officer of 2 portfolios in the OppenheimerFunds complex. | |
Mark S. Vandehey, Vice President and Chief Compliance Officer (since 2004) Age: 58 | Senior Vice President and Chief Compliance Officer of the Manager (since March 2004); Chief Compliance Officer of OppenheimerFunds Distributor, Inc., Centennial Asset Management and Shareholder Services, Inc. (since March 2004); Vice President of OppenheimerFunds Distributor, Inc., Centennial Asset Management Corporation and Shareholder Services, Inc. (since June 1983); Former Vice President and Director of Internal Audit of the Manager (1997-February 2004). An officer of 102 portfolios in the OppenheimerFunds complex. | |
Brian W. Wixted, Treasurer and Principal Financial & Accounting Officer (since 1999) Age: 49 | Senior Vice President of the Manager (since March 1999); Treasurer of the Manager and the following: HarbourView Asset Management Corporation, Shareholder Financial Services, Inc., Shareholder Services, Inc., Oppenheimer Real Asset Management, Inc. and Oppenheimer Partnership Holdings, Inc. (March 1999-June 2008), OFI Private Investments, Inc. (March 2000-June 2008), |
27 | OPPENHEIMER MAIN STREET SMALL CAP FUND
TRUSTEES AND OFFICERS Unaudited / Continued
Name, Position(s) Held with the | Principal Occupation(s) During the Past 5 Years; Other Trusteeships/Directorships | |
Fund, Length of Service, Age | Held; Number of Portfolios in the Fund Complex Currently Overseen | |
Brian W. Wixted, Continued | OppenheimerFunds International Ltd. and OppenheimerFunds plc (since May 2000), OFI Institutional Asset Management, Inc. (since November 2000), and OppenheimerFunds Legacy Program (charitable trust program established by the Manager) (since June 2003); Treasurer and Chief Financial Officer of OFI Trust Company (trust company subsidiary of the Manager) (since May 2000); Assistant Treasurer of the following: OAC (March 1999-June 2008), Centennial Asset Management Corporation (March 1999-October 2003) and OppenheimerFunds Legacy Program (April 2000-June 2003). An officer of 102 portfolios in the OppenheimerFunds complex. | |
Robert G. Zack, Vice President and Secretary (since 2001) Age: 60 | Executive Vice President (since January 2004) and General Counsel (since March 2002) of the Manager; General Counsel and Director of the Distributor (since December 2001); General Counsel of Centennial Asset Management Corporation (since December 2001); Senior Vice President and General Counsel of HarbourView Asset Management Corporation (since December 2001); Secretary and General Counsel of OAC (since November 2001); Assistant Secretary (since September 1997) and Director (since November 2001) of OppenheimerFunds International Ltd. and OppenheimerFunds plc; Vice President and Director of Oppenheimer Partnership Holdings, Inc. (since December 2002); Director of Oppenheimer Real Asset Management, Inc. (since November 2001); Senior Vice President, General Counsel and Director of Shareholder Financial Services, Inc. and Shareholder Services, Inc. (since December 2001); Senior Vice President, General Counsel and Director of OFI Private Investments, Inc. and OFI Trust Company (since November 2001); Vice President of OppenheimerFunds Legacy Program (since June 2003); Senior Vice President and General Counsel of OFI Institutional Asset Management, Inc. (since November 2001); Director of OppenheimerFunds International Distributor Limited (since December 2003); Senior Vice President (May 1985-December 2003). An officer of 102 portfolios in the OppenheimerFunds complex. |
The Fund’s Statement of Additional Information contains additional information about the Fund’s Trustees and Officers and is available without charge, upon request, by calling 1.800.525.7048.
28 | OPPENHEIMER MAIN STREET SMALL CAP FUND
Item 2. Code of Ethics.
The registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller or persons performing similar functions.
Item 3. Audit Committee Financial Expert.
The Board of Trustees of the registrant has determined that George C. Bowen, the Chairman of the Board’s Audit Committee, is the audit committee financial expert and that Mr. Bowen is “independent” for purposes of this Item 3.
Item 4. Principal Accountant Fees and Services.
(a) | Audit Fees |
The principal accountant for the audit of the registrant’s annual financial statements was KPMG LLP for 2009 and Deloitte and Touche LLP for 2008. KPMG billed $30,300 in fiscal 2009 and Deloitte and Touche billed $34,975 in fiscal 2008.
(b) | Audit-Related Fees |
The principal accountant for the audit of the registrant’s annual financial statements billed no such fees during the last two fiscal years.
The principal accountant for the audit of the registrant’s annual financial statements billed $271,540 in fiscal 2009 and $317,936 in fiscal 2008 to the registrant’s investment adviser or any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant.
Such services include: internal control reviews.
(c) | Tax Fees |
The principal accountant for the audit of the registrant’s annual financial statements billed $4,600 in fiscal 2009 and no such fees in fiscal 2008.
The principal accountant for the audit of the registrant’s annual financial statements billed no such fees during the last two fiscal years to the registrant’s investment adviser or any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant.
Such services include: tax filings.
(d) | All Other Fees |
The principal accountant for the audit of the registrant’s annual financial statements billed no such fees during the last two fiscal years.
The principal accountant for the audit of the registrant’s annual financial statements billed no such fees during the last two fiscal years to the registrant’s investment adviser or any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant.
(e) | (1) During its regularly scheduled periodic meetings, the registrant’s audit committee will pre-approve all audit, audit-related, tax and other services to be provided by the principal accountants of the registrant. | |
The audit committee has delegated pre-approval authority to its Chairman for any subsequent new engagements that arise between regularly scheduled meeting dates provided that any fees such pre-approved are presented to the audit committee at its next regularly scheduled meeting. | ||
Under applicable laws, pre-approval of non-audit services maybe waived provided that: 1) the aggregate amount of all such services provided constitutes no more than five percent of the total amount of fees paid by the registrant to it principal accountant during the fiscal year in which services are provided 2) such services were not recognized by the registrant at the time of engagement as non-audit services and 3) such services are promptly brought to the attention of the audit committee of the registrant and approved prior to the completion of the audit. | ||
(2) 100% | ||
(f) | Not applicable as less than 50%. | |
(g) | The principal accountant for the audit of the registrant’s annual financial statements billed $276,140 in fiscal 2009 and $317,936 in fiscal 2008 to the registrant and the registrant’s investment adviser or any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant related to non-audit fees. Those billings did not include any prohibited non-audit services as defined by the Securities Exchange Act of 1934. | |
(h) | The registrant’s audit committee of the board of trustees has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that were not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. No such services were rendered. |
Item 5. Audit Committee of Listed Registrants
Not applicable.
Item 6. Schedule of Investments.
a) Not applicable.
b) Not applicable.
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 Fund’s Governance Committee Provisions with Respect to Nominations of Directors/Trustees to the Respective Boards
1. | The Fund’s Governance Committee (the “Committee”) will evaluate potential Board candidates to assess their qualifications. The Committee shall have the authority, upon approval of the Board, to retain an executive search firm to assist in this effort. The Committee may consider recommendations by business and personal contacts of current Board members and by executive search firms which the Committee may engage from time to time and may also consider shareholder recommendations. The Committee may consider the advice and recommendation of the Funds’ investment manager and its affiliates in making the selection. | |
2. | The Committee shall screen candidates for Board membership. The Committee has not established specific qualifications that it believes must be met by a trustee nominee. In evaluating trustee nominees, the Committee considers, among other things, an individual’s background, skills, and experience; whether the individual is an “interested person” as defined in the Investment Company Act of 1940; and whether the individual would be deemed an “audit committee financial expert” within the meaning of applicable SEC rules. The Committee also considers whether the individual’s background, skills, and experience will complement the background, skills, and experience of other nominees and will contribute to the Board. There are no differences in the manner in which the Committee evaluates nominees for trustees based on whether the nominee is recommended by a shareholder. | |
3. | The Committee may consider nominations from shareholders for the Board at such times as the Committee meets to consider new nominees for the Board. The Committee shall have the sole discretion to determine the candidates to present to the Board and, in such cases where |
required, to shareholders. Recommendations for trustee nominees should, at a minimum, be accompanied by the following: |
• | the name, address, and business, educational, and/or other pertinent background of the person being recommended; | ||
• | a statement concerning whether the person is an “interested person” as defined in the Investment Company Act of 1940; | ||
• | any other information that the Funds would be required to include in a proxy statement concerning the person if he or she was nominated; and | ||
• | the name and address of the person submitting the recommendation and, if that person is a shareholder, the period for which that person held Fund shares. |
The recommendation also can include any additional information which the person submitting it believes would assist the Committee in evaluating the recommendation. | ||
4. | Shareholders should note that a person who owns securities issued by Massachusetts Mutual Life Insurance Company (the parent company of the Funds’ investment adviser) would be deemed an “interested person” under the Investment Company Act of 1940. In addition, certain other relationships with Massachusetts Mutual Life Insurance Company or its subsidiaries, with registered broker-dealers, or with the Funds’ outside legal counsel may cause a person to be deemed an “interested person.” | |
5. | Before the Committee decides to nominate an individual as a trustee, Committee members and other directors customarily interview the individual in person. In addition, the individual customarily is asked to complete a detailed questionnaire which is designed to elicit information which must be disclosed under SEC and stock exchange rules and to determine whether the individual is subject to any statutory disqualification from serving as a trustee of a registered investment company. |
Item 11. Controls and Procedures.
Based on their evaluation of the registrant’s disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of 06/30/2009, the registrant’s principal executive officer and principal financial officer found the registrant’s disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files under the Securities Exchange Act of 1934 (a) is accumulated and communicated to registrant’s management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission.
There have been no changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 12. Exhibits.
(a) | (1) Exhibit attached hereto. |
(2) | Exhibits attached hereto. | ||
(3) | Not applicable. |
(b) | Exhibit 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 Main Street Small Cap Fund
By: | /s/ John V. Murphy | |||
Principal Executive Officer | ||||
Date: | 08/11/2009 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ John V. Murphy | |||
Principal Executive Officer | ||||
Date: | 08/11/2009 |
By: | /s/ Brian W. Wixted | |||
Principal Financial Officer | ||||
Date: | 08/11/2009 |