SECURITIES AND EXCHANGE COMMISSION
INVESTMENT COMPANIES
(Address of principal executive offices) (Zip code)
OppenheimerFunds, Inc.
Two World Financial Center, New York, New York 10281-1008
(Name and address of agent for service)
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Top Ten Common Stock Industries | ||||
Real Estate Investment Trusts | 9.5 | % | ||
Specialty Retail | 6.2 | |||
Oil, Gas & Consumable Fuels | 5.2 | |||
Insurance | 5.1 | |||
Semiconductors & Semiconductor Equipment | 4.5 | |||
Health Care Providers & Services | 3.8 | |||
Software | 3.2 | |||
Professional Services | 3.0 | |||
IT Services | 2.4 | |||
Commercial Banks | 2.4 |
Top Ten Common Stock Holdings | ||||
Robert Half International, Inc. | 1.7 | % | ||
HollyFrontier Corp. | 1.6 | |||
Questcor Pharmaceuticals, Inc. | 1.5 | |||
Old Dominion Freight Line, Inc. | 1.4 | |||
AES Corp. (The) | 1.4 | |||
Digital Realty Trust, Inc. | 1.2 | |||
MSCI, Inc., Cl. A | 1.2 | |||
PVH Corp. | 1.2 | |||
KBR, Inc. | 1.1 | |||
Toll Brothers, Inc. | 1.1 |
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Beginning | Ending | Expenses | ||||||||||
Account | Account | Paid During | ||||||||||
Value | Value | 6 Months Ended | ||||||||||
Actual | July 1, 2011 | December 30, 2011 | December 30, 2011 | |||||||||
Class A | $ | 1,000.00 | $ | 904.40 | $ | 5.97 | ||||||
Class B | 1,000.00 | 901.10 | 9.80 | |||||||||
Class C | 1,000.00 | 901.20 | 9.60 | |||||||||
Class N | 1,000.00 | 903.30 | 7.17 | |||||||||
Class Y | 1,000.00 | 906.40 | 4.20 | |||||||||
Hypothetical | ||||||||||||
(5% return before expenses) | ||||||||||||
Class A | 1,000.00 | 1,018.75 | 6.33 | |||||||||
Class B | 1,000.00 | 1,014.75 | 10.38 | |||||||||
Class C | 1,000.00 | 1,014.95 | 10.18 | |||||||||
Class N | 1,000.00 | 1,017.50 | 7.59 | |||||||||
Class Y | 1,000.00 | 1,020.60 | 4.46 |
Class | Expense Ratios | |||
Class A | 1.25 | % | ||
Class B | 2.05 | |||
Class C | 2.01 | |||
Class N | 1.50 | |||
Class Y | 0.88 |
Shares | Value | |||||||
Common Stocks—99.5% | ||||||||
Consumer Discretionary—16.6% | ||||||||
Auto Components—1.0% | ||||||||
Dana Holding Corp.1 2,470,160 | $ | 30,012,444 | ||||||
Standard Motor | ||||||||
Products, Inc. | 84,410 | 1,692,421 | ||||||
31,704,865 | ||||||||
Distributors—0.7% | ||||||||
Pool Corp. | 761,981 | 22,935,628 | ||||||
Diversified Consumer Services—0.5% | ||||||||
Bridgepoint | ||||||||
Education, Inc.1 | 237,022 | 5,451,506 | ||||||
Capella Education Co.1 | 21,530 | 776,157 | ||||||
Coinstar, Inc.1 | 132,704 | 6,056,611 | ||||||
DeVry, Inc. | 21,362 | 821,583 | ||||||
ITT Educational Services, Inc.1 | 4,949 | 281,549 | ||||||
Regis Corp. | 173,810 | 2,876,556 | ||||||
Service Corp. International | 51,330 | 546,665 | ||||||
16,810,627 | ||||||||
Hotels, Restaurants & Leisure—2.3% | ||||||||
AFC Enterprises, Inc.1 | 59,260 | 871,122 | ||||||
Ameristar Casinos, Inc. | 288,500 | 4,988,165 | ||||||
Bob Evans Farms, Inc. | 75,918 | 2,546,290 | ||||||
Brinker International, Inc. | 324,350 | 8,679,606 | ||||||
Cheesecake Factory, Inc. (The)1 | 186,838 | 5,483,695 | ||||||
Cracker Barrel Old | ||||||||
Country Store, Inc. | 206,173 | 10,393,181 | ||||||
Dunkin’ Brands | ||||||||
Group, Inc.1 | 973,571 | 24,319,804 | ||||||
Jack in the Box, Inc.1 | 21,150 | 442,035 | ||||||
Marriott Vacations | ||||||||
Worldwide Corp.1 | 23,700 | 406,692 | ||||||
P.F. Chang’s China Bistro, Inc. | 10,722 | 331,417 | ||||||
Papa John’s | ||||||||
International, Inc.1 | 201,720 | 7,600,810 | ||||||
Shuffle Master, Inc.1 | 23,570 | 276,240 | ||||||
Texas Roadhouse, Inc., Cl. A | 271,811 | 4,049,984 | ||||||
Wyndham Worldwide Corp. | 3,471 | 131,308 | ||||||
70,520,349 | ||||||||
Household Durables—1.4% | ||||||||
American Greetings | ||||||||
Corp., Cl. A | 255,185 | 3,192,364 | ||||||
CSS Industries, Inc. | 47,530 | 946,798 | ||||||
Helen of Troy Ltd.1 | 99,391 | 3,051,304 | ||||||
Jarden Corp. | 119,507 | 3,570,869 | ||||||
Toll Brothers, Inc.1 | 1,662,960 | 33,957,643 | ||||||
Universal Electronics, Inc.1 | 1,860 | 31,378 | ||||||
44,750,356 | ||||||||
Internet & Catalog Retail—0.1% | ||||||||
Expedia, Inc. | 34,351 | 996,866 | ||||||
HSN, Inc. | 12,890 | 467,391 | ||||||
TripAdvisor, Inc.1 | 21,951 | 553,385 | ||||||
2,017,642 | ||||||||
Leisure Equipment & Products—0.0% | ||||||||
Polaris Industries, Inc. | 5,736 | 321,101 | ||||||
Media—1.6% | ||||||||
Cinemark Holdings, Inc. | 139,180 | 2,573,438 | ||||||
Dish Network Corp., Cl. A 112,818 | 3,213,057 | |||||||
Global Sources Ltd.1 | 67,690 | 328,297 | ||||||
IMAX Corp.1 | 1,529,330 | 28,032,619 | ||||||
Interpublic Group of Cos., Inc. (The) | 665,524 | 6,475,549 | ||||||
Journal Communications, Inc.1 | 215,140 | 946,616 | ||||||
Sinclair Broadcast Group, Inc., Cl. A | 631,517 | 7,155,088 | ||||||
Valassis Communications, Inc.1 | 70,380 | 1,353,407 | ||||||
50,078,071 |
Shares | Value | |||||||
Multiline Retail—0.8% | ||||||||
Big Lots, Inc.1 | 201,100 | $ | 7,593,536 | |||||
Dillard’s, Inc., Cl. A | 194,485 | 8,728,487 | ||||||
Fred’s, Inc. | 91,272 | 1,330,746 | ||||||
Saks, Inc.1 | 592,128 | 5,773,248 | ||||||
23,426,017 | ||||||||
Specialty Retail—6.2% | ||||||||
Aaron’s, Inc. | 66,656 | 1,778,382 | ||||||
Advance Auto Parts, Inc. | 55,417 | 3,858,686 | ||||||
AnnTaylor Stores Corp.1 | 234,049 | 5,799,734 | ||||||
Ascena Retail Group, Inc.1 | 253,169 | 7,524,183 | ||||||
CarMax, Inc.1 | 717,910 | 21,881,897 | ||||||
Casual Male Retail Group, Inc.1 | 43,148 | 147,566 | ||||||
Cato Corp., Cl. A | 312,058 | 7,551,804 | ||||||
Chico’s FAS, Inc. | 550,003 | 6,127,033 | ||||||
Children’s Place Retail Stores, Inc.1 | 463,500 | 24,621,120 | ||||||
Dick’s Sporting Goods, Inc. | 28,160 | 1,038,541 | ||||||
DSW, Inc., Cl. A | 14,769 | 652,937 | ||||||
Express, Inc.1 | 417,098 | 8,316,934 | ||||||
Finish Line, Inc. | ||||||||
(The), Cl. A | 399,250 | 7,699,536 | ||||||
Foot Locker, Inc. | 369,636 | 8,812,122 | ||||||
GameStop Corp., Cl. A1 | 343,590 | 8,290,827 | ||||||
GNC Holdings, Inc., Cl. A1 | 16,050 | 464,648 | ||||||
Group 1 Automotive, Inc. | 46,417 | 2,404,401 | ||||||
hhgregg, Inc.1 | 10,560 | 152,592 | ||||||
Hibbett Sports, Inc.1 | 9,650 | 435,987 | ||||||
Men’s Wearhouse, Inc. (The) | 220,685 | 7,152,401 | ||||||
Monro Muffler Brake, Inc. | 603,127 | 23,395,296 | ||||||
Pep Boys-Manny, Moe & Jack | 133,946 | 1,473,406 | ||||||
PetSmart, Inc. | 9,260 | 474,945 | ||||||
Pier 1 Imports, Inc.1 | 414,474 | 5,773,623 | ||||||
RadioShack Corp. | 26,650 | 258,772 | ||||||
Rent-A-Center, Inc. | 57,350 | 2,121,950 | ||||||
Sally Beauty Holdings, Inc.1 | 308,914 | 6,527,353 | ||||||
Select Comfort Corp.1 | 298,855 | 6,482,165 | ||||||
Tractor Supply Co. | 176,096 | 12,353,134 | ||||||
Wet Seal, Inc., Cl. A1 | 1,333,633 | 4,347,644 | ||||||
Williams-Sonoma, Inc. | 103,891 | 3,999,804 | ||||||
191,919,423 | ||||||||
Textiles, Apparel & Luxury Goods—2.0% | ||||||||
Fossil, Inc.1 | 312,293 | 24,783,572 | ||||||
Iconix Brand Group, Inc.1 | 18,543 | 302,065 | ||||||
PVH Corp. | 513,207 | 36,175,961 | ||||||
61,261,598 | ||||||||
Consumer Staples—2.6% | ||||||||
Beverages—0.2% | ||||||||
Constellation Brands, Inc., Cl. A1 | 308,270 | 6,371,941 | ||||||
Cott Corp.1 | 23,430 | 146,672 | ||||||
Dr. Pepper Snapple Group, Inc. | 3,960 | 156,341 | ||||||
6,674,954 | ||||||||
Food & Staples Retailing—0.5% | ||||||||
Casey’s General Stores, Inc. | 125,310 | 6,454,718 | ||||||
Ruddick Corp. | 79,408 | 3,385,957 | ||||||
Spartan Stores, Inc. | 111,870 | 2,069,595 | ||||||
Susser Holdings Corp.1 | 26,905 | 608,591 | ||||||
Weis Markets, Inc. | 27,800 | 1,110,332 | ||||||
13,629,193 | ||||||||
Food Products—1.0% | ||||||||
Darling International, Inc.1 | 177,065 | 2,353,194 | ||||||
Hormel Foods Corp. | 4,987 | 146,069 | ||||||
Smithfield Foods, Inc.1 | 12,600 | 305,928 | ||||||
TreeHouse Foods, Inc.1 | 317,820 | 20,779,072 | ||||||
Tyson Foods, Inc., Cl. A | 391,910 | 8,089,022 | ||||||
31,673,285 |
Shares | Value | |||||||
Household Products—0.5% | ||||||||
Church & Dwight Co., Inc. | 361,960 | $ | 16,563,290 | |||||
Personal Products—0.3% | ||||||||
Elizabeth Arden, Inc.1 | 18,436 | 682,869 | ||||||
Medifast, Inc.1 | 237,952 | 3,264,701 | ||||||
Prestige Brands Holdings, Inc.1 | 123,613 | 1,393,119 | ||||||
USANA Health Sciences, Inc.1 | 115,356 | 3,503,362 | ||||||
8,844,051 | ||||||||
Tobacco—0.1% | ||||||||
Universal Corp. | 72,474 | 3,330,905 | ||||||
Energy—6.8% | ||||||||
Energy Equipment & Services—1.6% | ||||||||
Bolt Technology Corp. | 88,789 | 1,015,746 | ||||||
Helix Energy Solutions Group, Inc.1 | 347,180 | 5,485,444 | ||||||
Helmerich & Payne, Inc. | 20,890 | 1,219,140 | ||||||
ION Geophysical Corp.1 | 265,905 | 1,629,998 | ||||||
Matrix Service Co.1 | 122,686 | 1,158,156 | ||||||
Nabors Industries Ltd.1 | 55,950 | 970,173 | ||||||
Newpark Resources, Inc.1 | 989,213 | 9,397,524 | ||||||
Parker Drilling Co.1 | 609,835 | 4,372,517 | ||||||
Patterson-UTI Energy, Inc. | 198,473 | 3,965,491 | ||||||
Pioneer Drilling Co.1 | 216,980 | 2,100,366 | ||||||
Precision Drilling Corp.1 | 558,114 | 5,726,250 | ||||||
RPC, Inc. | 331,671 | 6,052,996 | ||||||
Superior Energy Services, Inc.1 | 192,474 | 5,473,961 | ||||||
Tesco Corp.1 | 157,023 | 1,984,771 | ||||||
50,552,533 | ||||||||
Oil, Gas & Consumable Fuels—5.2% | ||||||||
CVR Energy, Inc.1 | 374,865 | 7,021,221 | ||||||
Delek US Holdings, Inc. | 56,865 | 648,830 | ||||||
Energy Partners Ltd.1 | 47,272 | 690,171 | ||||||
Energy XXI (Bermuda) Ltd.1 | 369,960 | 11,794,325 | ||||||
Gran Tierra Energy, Inc.1 | 31,640 | 151,872 | ||||||
HollyFrontier Corp. | 2,068,854 | 48,411,170 | ||||||
Kosmos Energy Ltd.1 | 985,360 | 12,080,514 | ||||||
MarkWest Energy | ||||||||
Partners LP | 418,900 | 23,064,634 | ||||||
PAA Natural Gas Storage LP | 906,791 | 17,002,331 | ||||||
Petrobras Argentina SA, ADR | 146,600 | 1,850,092 | ||||||
Stone Energy Corp.1 | 231,344 | 6,102,855 | ||||||
Tesoro Corp.1 | 319,451 | 7,462,375 | ||||||
Ultrapar Participacoes SA, Sponsored ADR | 285,139 | 4,904,391 | ||||||
VAALCO Energy, Inc.1 | 854,256 | 5,159,706 | ||||||
W&T Offshore, Inc. | 336,780 | 7,143,104 | ||||||
Warren Resources, Inc.1 | 430,495 | 1,403,414 | ||||||
Western Refining, Inc.1 | 468,396 | 6,224,983 | ||||||
161,115,988 | ||||||||
Financials—20.9% | ||||||||
Capital Markets—1.0% | ||||||||
Apollo Global | ||||||||
Management LLC | 526,578 | 6,534,833 | ||||||
Federated Investors, Inc., Cl. B | 385,091 | 5,834,129 | ||||||
Financial Engines, Inc.1 | 183,990 | 4,108,497 | ||||||
KBW, Inc. | 854,570 | 12,972,373 | ||||||
Knight Capital Group, Inc., Cl. A1 | 102,929 | 1,216,621 | ||||||
30,666,453 | ||||||||
Commercial Banks—2.4% | ||||||||
BBVA Banco Frances SA, ADR | 291,799 | 1,421,061 | ||||||
CapitalSource, Inc. | 4,654,612 | 31,185,900 | ||||||
Cardinal Financial Corp. | 6,043 | 64,902 | ||||||
Century Bancorp, Inc., Cl. A | 42,780 | 1,208,107 | ||||||
Columbia Banking System, Inc. | 16,857 | 324,834 | ||||||
First Horizon National Corp. | 48,553 | 388,424 |
Shares | Value | |||||||
Commercial Banks Continued | ||||||||
First Midwest | ||||||||
Bancorp, Inc. | 1,088,133 | $ | 11,022,787 | |||||
FirstMerit Corp. | 1,277,370 | 19,326,608 | ||||||
Fulton Financial Corp. | 377,053 | 3,698,890 | ||||||
Grupo Financiero Galicia SA, ADR | 461,249 | 2,735,207 | ||||||
National Bankshares, Inc. | 32,944 | 919,796 | ||||||
Republic Bancorp, Inc., Cl. A | 42,416 | 971,326 | ||||||
State Bank Financial Corp.1 | 8,067 | 121,892 | ||||||
Washington Banking Co. | 45,025 | 536,248 | ||||||
73,925,982 | ||||||||
Consumer Finance—0.3% | ||||||||
Advance America Cash Advance Centers, Inc. | 413,102 | 3,697,263 | ||||||
EZCORP, Inc., Cl. A1 | 78,352 | 2,066,142 | ||||||
First Cash Financial | ||||||||
Services, Inc.1 | 8,176 | 286,896 | ||||||
World Acceptance Corp.1 | 64,513 | 4,741,706 | ||||||
10,792,007 | ||||||||
Diversified Financial Services—2.1% | ||||||||
Encore Capital Group, Inc.1 | 117,560 | 2,499,326 | ||||||
Life Partners Holdings, Inc. | 190,733 | 1,232,135 | ||||||
Moody’s Corp. | 750,640 | 25,281,555 | ||||||
MSCI, Inc., Cl. A1 | 1,111,750 | 36,609,928 | ||||||
NASDAQ OMX Group, Inc. (The)1 | 43,000 | 1,053,930 | ||||||
66,676,874 | ||||||||
Insurance—5.1% | ||||||||
Alterra Capital Holdings Ltd. | 415,490 | 9,818,029 | ||||||
American Equity Investment Life Holding Co. | 531,474 | 5,527,330 | ||||||
American Financial Group, Inc. | 238,488 | 8,797,822 | ||||||
American Safety Insurance Holdings Ltd.1 | 68,901 | 1,498,597 | ||||||
AmTrust Financial Services, Inc. | 330,054 | 7,838,783 | ||||||
Arch Capital Group Ltd.1 | 320,081 | 11,916,616 | ||||||
Assured Guaranty Ltd. | 42,930 | 564,100 | ||||||
Brown & Brown, Inc. | 997,920 | 22,582,930 | ||||||
CNO Financial Group, Inc.1 | 759,196 | 4,790,527 | ||||||
FBL Financial Group, Inc., Cl. A | 91,308 | 3,106,298 | ||||||
Fidelity National Financial, Inc., Cl. A | 584,182 | 9,306,019 | ||||||
Global Indemnity plc1 | 18,961 | 375,997 | ||||||
HCC Insurance | ||||||||
Holdings, Inc. | 266,780 | 7,336,450 | ||||||
Horace Mann Educators Corp. | 272,481 | 3,735,715 | ||||||
Maiden Holdings Ltd. | 413,111 | 3,618,852 | ||||||
Meadowbrook Insurance Group, Inc. | 476,030 | 5,084,000 | ||||||
National Financial Partners Corp.1 | 69,580 | 940,722 | ||||||
National Interstate Corp. | 47,729 | 1,177,474 | ||||||
National Western Life Insurance Co., Cl. A | 9,010 | 1,226,802 | ||||||
Primerica, Inc. | 402,763 | 9,360,212 | ||||||
Principal Financial Group, Inc. (The) | 86,431 | 2,126,203 | ||||||
ProAssurance Corp. | 70 | 5,587 | ||||||
Protective Life Corp. | 296,828 | 6,696,440 | ||||||
Reinsurance Group of America, Inc. | 138,561 | 7,239,812 | ||||||
RLI Corp. | 6,180 | 450,275 | ||||||
StanCorp Financial Group, Inc. | 7,270 | 267,173 | ||||||
Symetra Financial Corp. | 640,898 | 5,812,945 | ||||||
Torchmark Corp. | 129,351 | 5,612,540 | ||||||
Tower Group, Inc. | 262,726 | 5,299,183 | ||||||
Universal Insurance Holdings, Inc. | 80,412 | 287,875 | ||||||
Unum Group | 254,373 | 5,359,639 | ||||||
157,760,947 |
Shares | Value | |||||||
Real Estate Investment Trusts—9.5% | ||||||||
American Campus | ||||||||
Communities, Inc. | 205,676 | $ | 8,630,165 | |||||
Associated Estates Realty Corp. | 289,172 | 4,612,293 | ||||||
BioMed Realty Trust, Inc. | 284,320 | 5,140,506 | ||||||
BRE Properties, Inc., Cl. A | 187,730 | 9,476,610 | ||||||
Camden Property Trust | 28,056 | 1,746,205 | ||||||
Chatham Lodging Trust | 542,370 | 5,846,749 | ||||||
Colonial Properties Trust | 17,316 | 361,212 | ||||||
CubeSmart | 711,948 | 7,575,127 | ||||||
CYS Investments, Inc. | 989,580 | 13,003,081 | ||||||
DDR Corp. | 5,147 | 62,639 | ||||||
Digital Realty Trust, Inc. | 565,686 | 37,714,286 | ||||||
Douglas Emmett, Inc. | 142,010 | 2,590,262 | ||||||
EastGroup Properties, Inc. | 148,312 | 6,448,606 | ||||||
Equity Lifestyle Properties, Inc. | 121,332 | 8,091,631 | ||||||
Essex Property Trust, Inc. | 58,785 | 8,259,880 | ||||||
Extra Space Storage, Inc. | 373,901 | 9,059,621 | ||||||
Federal Realty Investment Trust | 70,880 | 6,432,360 | ||||||
Glimcher Realty Trust | 373,259 | 3,433,983 | ||||||
Hatteras Financial Corp. | 811,800 | 21,407,166 | ||||||
Highwoods Properties, Inc. | 3,490 | 103,548 | ||||||
Home Properties of New York, Inc. | 152,911 | 8,803,086 | ||||||
Hospitality Properties Trust | 267,732 | 6,152,481 | ||||||
Kilroy Realty Corp. | 12,311 | 468,680 | �� | |||||
LaSalle Hotel Properties | 1,219,602 | 29,526,564 | ||||||
LTC Properties, Inc. | 90,993 | 2,808,044 | ||||||
Mid-America Apartment Communities, Inc. | 367,878 | 23,010,769 | ||||||
National Retail Properties, Inc. | 219,211 | 5,782,786 | ||||||
Post Properties, Inc. | 142,811 | 6,243,697 | ||||||
PS Business Parks, Inc. | 8,120 | 450,092 | ||||||
Realty Income Corp. | 88,474 | 3,093,051 | ||||||
Sovran Self Storage, Inc. | 111,173 | $ | 4,743,752 | |||||
Starwood Property | ||||||||
Trust, Inc. | 1,102,595 | 20,409,033 | ||||||
Sun Communities, Inc. | 141,938 | 5,184,995 | ||||||
Tanger Factory Outlet Centers, Inc. | 321,782 | 9,434,648 | ||||||
Taubman Centers, Inc. | 138,570 | 8,605,197 | ||||||
Universal Health Realty Income Trust | 27,873 | 1,087,047 | ||||||
Weingarten Realty Investors | 2,936 | 64,064 | ||||||
295,863,916 | ||||||||
Real Estate Management & Development—0.0% | ||||||||
MI Developments, Inc. | 32,932 | 1,053,165 | ||||||
Thrifts & Mortgage Finance—0.5% | ||||||||
BankUnited, Inc. | 566,880 | 12,465,691 | ||||||
Dime Community Bancshares, Inc. | 14,284 | 179,978 | ||||||
First Defiance Financial Corp. | 111,040 | 1,620,074 | ||||||
Flushing Financial Corp. | 12,710 | 160,527 | ||||||
OceanFirst Financial Corp. | 45,770 | 598,214 | ||||||
Ocwen Financial Corp.1 | 140 | 2,027 | ||||||
Walker & Dunlop, Inc.1 | 55,245 | 693,877 | ||||||
15,720,388 | ||||||||
Health Care—10.0% | ||||||||
Biotechnology—1.5% | ||||||||
Aveo Pharmaceuticals, Inc.1 | 318,190 | 5,472,868 | ||||||
Halozyme Therapeutics, Inc.1 | 1,222,541 | 11,626,365 | ||||||
Indevus Pharmaceuticals, Inc.1 | 14,100 | 141 |
Shares | Value | |||||||
Biotechnology Continued | ||||||||
Inhibitex, Inc.1 | 485,200 | $ | 5,308,088 | |||||
Medivation, Inc.1 | 128,140 | 5,908,535 | ||||||
Myriad Genetics, Inc.1 | 332,620 | 6,965,063 | ||||||
PDL BioPharma, Inc. | 1,481,021 | 9,182,330 | ||||||
United Therapeutics Corp.1 | 17,269 | 815,960 | ||||||
45,279,350 | ||||||||
Health Care Equipment & Supplies—1.6% | ||||||||
Bard (C.R.), Inc. | 32,850 | 2,808,675 | ||||||
Cantel Medical Corp. | 22,100 | 617,253 | ||||||
ConMed Corp.1 | 51,002 | 1,309,221 | ||||||
Dexcom, Inc.1 | 1,225,233 | 11,406,919 | ||||||
Greatbatch, Inc.1 | 723,879 | 15,997,726 | ||||||
ICU Medical, Inc.1 | 18,906 | 850,770 | ||||||
IDEXX Laboratories, Inc.1 | 4,594 | 353,554 | ||||||
Invacare Corp. | 2,216 | 33,883 | ||||||
Orthofix International NV1 | 197,260 | 6,949,470 | ||||||
ResMed, Inc.1 | 206,972 | 5,257,089 | ||||||
RTI Biologics, Inc.1 | 19,550 | 86,802 | ||||||
Vascular Solutions, Inc.1 | 1,992 | 22,171 | ||||||
Wright Medical Group, Inc.1 | 94,857 | 1,565,141 | ||||||
Young Innovations, Inc. | 37,150 | 1,100,755 | ||||||
48,359,429 | ||||||||
Health Care Providers & Services—3.8% | ||||||||
AmSurg Corp.1 | 213,464 | 5,558,603 | ||||||
Assisted Living Concepts, Inc. | 16,007 | 238,344 | ||||||
Bio-Reference Laboratories, Inc.1 | 95,674 | 1,556,616 | ||||||
Brookdale Senior | ||||||||
Living, Inc.1 | 46,087 | 801,453 | ||||||
Centene Corp.1 | 227,039 | 8,988,474 | ||||||
Chemed Corp. | 92,196 | 4,721,357 | ||||||
DaVita, Inc.1 | 11,740 | 890,009 | ||||||
Ensign Group, Inc. (The) | 192,032 | 4,704,784 | ||||||
ExamWorks Group, Inc.1 | 57,310 | 543,299 | ||||||
Health Management Associates, Inc., Cl. A1 | 707,547 | 5,214,621 | ||||||
HealthSouth Corp.1 | 1,112,990 | 19,666,533 | ||||||
HMS Holdings Corp.1 | 542,770 | 17,357,785 | ||||||
Laboratory Corp. of America Holdings1 | 7,180 | 617,265 | ||||||
LifePoint Hospitals, Inc.1 | 177,691 | 6,601,221 | ||||||
Lincare Holdings, Inc. | 288,987 | 7,429,856 | ||||||
Magellan Health Services, Inc.1 | 6,193 | 306,368 | ||||||
MedQuist Holdings, Inc.1 | 226,190 | 2,175,948 | ||||||
Metropolitan Health Networks, Inc.1 | 453,530 | 3,387,869 | ||||||
Molina Healthcare, Inc.1 | 96,079 | 2,145,444 | ||||||
Patterson Cos., Inc. | 177,844 | 5,249,955 | ||||||
PSS World Medical, Inc.1 | 278,447 | 6,735,633 | ||||||
Schein (Henry), Inc.1 | 6,900 | 444,567 | ||||||
Select Medical Holdings Corp.1 | 388,422 | 3,293,819 | ||||||
Triple-S Management Corp., Cl. B1 | 80,156 | 1,604,723 |
Shares | Value | |||||||
Health Care Providers & Services Continued | ||||||||
U.S. Physical Therapy, Inc. | 134,859 | $ | 2,654,025 | |||||
Universal Health Services, Inc., Cl. B | 164,786 | 6,403,584 | ||||||
119,292,155 | ||||||||
Health Care Technology—0.1% | ||||||||
Allscripts Healthcare Solutions, Inc.1 | 25,100 | 475,394 | ||||||
HealthStream, Inc.1 | 30,415 | 561,157 | ||||||
MedAssets, Inc.1 | 46,670 | 431,698 | ||||||
Transcend Services, Inc.1 | 66,378 | 1,575,150 | ||||||
3,043,399 | ||||||||
Life Sciences Tools & Services—0.8% | ||||||||
Cambrex Corp.1 | 366,410 | 2,630,824 | ||||||
eResearch Technology, Inc.1 | 65,343 | 306,459 | ||||||
Harvard Bioscience, Inc.1 | 233,210 | 902,523 | ||||||
PerkinElmer, Inc. | 17,350 | 347,000 | ||||||
Waters Corp.1 | 298,000 | 22,066,900 | ||||||
26,253,706 | ||||||||
Pharmaceuticals—2.2% | ||||||||
Hi-Tech Pharmacal Co., Inc.1 | 165,388 | 6,431,939 | ||||||
Medicines Co. | ||||||||
(The)1 | 502,840 | 9,372,938 | ||||||
Obagi Medical Products, Inc.1 | 96,929 | 984,799 | ||||||
Questcor Pharmaceuticals, Inc.1 | 1,127,860 | 46,896,419 | ||||||
Warner Chilcott plc, Cl. A1 | 426,033 | 6,445,879 | ||||||
70,131,974 | ||||||||
Industrials—16.2% | ||||||||
Aerospace & Defense—1.6% | ||||||||
B/E Aerospace, Inc.1 | 708,584 | 27,429,287 | ||||||
Ceradyne, Inc.1 | 36,898 | 988,128 | ||||||
Cubic Corp. | 46,561 | 2,029,594 | ||||||
Curtiss-Wright Corp. | 177,102 | 6,257,014 | ||||||
Exelis, Inc. | 502,629 | 4,548,792 | ||||||
LMI Aerospace, Inc.1 | 54,520 | 956,826 | ||||||
Moog, Inc., Cl. A1 | 47,170 | 2,072,178 | ||||||
Orbital Sciences Corp.1 | 340,968 | 4,954,265 | ||||||
49,236,084 | ||||||||
Air Freight & Logistics—0.5% | ||||||||
Hub Group, Inc., Cl. A1 | 509,000 | 16,506,870 | ||||||
Park-Ohio Holdings Corp.1 | 25,190 | 449,390 | ||||||
16,956,260 | ||||||||
Airlines—0.3% | ||||||||
Alaska Air Group, Inc.1 | 114,700 | 8,612,823 | ||||||
Spirit Airlines, Inc.1 | 7,025 | 109,590 | ||||||
8,722,413 | ||||||||
Commercial Services & Supplies—2.2% | ||||||||
Acco Brands Corp.1 | 13,500 | 130,275 | ||||||
Brink’s Co. (The) | 53,896 | 1,448,724 | ||||||
Cintas Corp. | 84,185 | 2,930,480 | ||||||
Consolidated Graphics, Inc.1 | 81,192 | 3,919,950 | ||||||
Corrections Corp. of America1 | 268,425 | 5,467,817 | ||||||
Deluxe Corp. | 365,295 | 8,314,114 | ||||||
Intersections, Inc. | 74,569 | 826,970 | ||||||
KAR Auction Services, Inc.1 | 329,208 | 4,444,308 | ||||||
Knoll, Inc. | 432,703 | 6,425,640 | ||||||
Miller (Herman), Inc. | 306,727 | 5,659,113 |
Shares | Value | |||||||
Commercial Services & Supplies Continued | ||||||||
Multi-Color Corp. | 30,528 | $ | 785,485 | |||||
Quad Graphics, Inc. | 33,520 | 480,677 | ||||||
R.R. Donnelley & Sons Co. | 115,380 | 1,664,933 | ||||||
Steelcase, Inc., Cl. A | 523,047 | 3,901,931 | ||||||
Sykes Enterprises, Inc.1 | 323,539 | 5,066,621 | ||||||
Tetra Tech, Inc.1 | 297,672 | 6,426,738 | ||||||
United Stationers, Inc. | 20,530 | 668,457 | ||||||
Waste Connections, Inc. | 321,180 | 10,643,905 | ||||||
69,206,138 | ||||||||
Construction & Engineering—2.1% | ||||||||
Aecom Technology | ||||||||
Corp.1 | 780,542 | 16,055,749 | ||||||
Chicago Bridge & Iron Co. NV | 94,004 | 3,553,351 | ||||||
EMCOR Group, Inc. | 47,300 | 1,268,113 | ||||||
KBR, Inc. | 1,242,361 | 34,624,601 | ||||||
Primoris Services Corp. | 248,336 | 3,707,656 | ||||||
URS Corp.1 | 197,872 | 6,949,265 | ||||||
66,158,735 | ||||||||
Electrical Equipment—1.7% | ||||||||
Belden, Inc. | 134,735 | 4,483,981 | ||||||
Brady Corp., Cl. A | 63,810 | 2,014,482 | ||||||
EnerSys, Inc.1 | 30,646 | 795,877 | ||||||
Generac Holdings, Inc.1 | 425,060 | 11,914,432 | ||||||
General Cable Corp.1 | 574,980 | 14,380,250 | ||||||
Regal-Beloit Corp. | 349,770 | 17,827,777 | ||||||
51,416,799 | ||||||||
Industrial Conglomerates—0.0% | ||||||||
Standex International Corp. | 39,280 | 1,342,198 | ||||||
Machinery—2.2% | ||||||||
Actuant Corp., Cl. A | 263,673 | 5,982,740 | ||||||
AGCO Corp.1 | 141,110 | 6,063,497 | ||||||
Albany International Corp., Cl. A | 136,804 | 3,162,908 | ||||||
Barnes Group, Inc. | 102,773 | 2,477,857 | ||||||
Blount International, Inc.1 | 240,244 | 3,488,343 | ||||||
Briggs & Stratton Corp. | 93,448 | 1,447,510 | ||||||
Douglas Dynamics, Inc. | 79,565 | 1,163,240 | ||||||
Duoyuan Global Water, Inc., ADR1 | 78,060 | 75,718 | ||||||
Freightcar America, Inc.1 | 342,370 | 7,172,652 | ||||||
Gardner Denver, Inc. | 4,628 | 356,634 | ||||||
John Bean Technologies Corp. | 35,183 | 540,763 | ||||||
Kadant, Inc.1 | 116,013 | 2,623,054 | ||||||
Kennametal, Inc. | 151,354 | 5,527,448 | ||||||
Lincoln Electric Holdings, Inc. | 12,690 | 496,433 | ||||||
Miller Industries, Inc. | 66,000 | 1,038,180 | ||||||
Navistar International Corp.1 | 75,321 | 2,853,159 | ||||||
Sauer-Danfoss, Inc.1 | 110,141 | 3,988,206 | ||||||
TriMas Corp.1 | 186,236 | 3,342,936 | ||||||
Wabtec Corp. | 214,370 | 14,995,182 | ||||||
Xylem, Inc. | 19,870 | 510,460 | ||||||
67,306,920 | ||||||||
Professional Services—3.0% | ||||||||
CBIZ, Inc.1 | 572,954 | 3,500,749 | ||||||
Dun & Bradstreet Corp. | 5,080 | 380,136 | ||||||
GP Strategies Corp.1 | 128,235 | 1,728,608 | ||||||
ICF International, Inc.1 | 120,737 | 2,991,863 |
Shares | Value | |||||||
Professional Services Continued | ||||||||
Insperity, Inc. | 50,963 | $ | 1,291,912 | |||||
Kelly Services, Inc., Cl. A | 127,337 | 1,741,970 | ||||||
Kforce, Inc.1 | 6,212 | 76,594 | ||||||
Korn-Ferry International1 | 1,311,935 | 22,381,611 | ||||||
Navigant Consulting, Inc.1 | 13,990 | 159,626 | ||||||
On Assignment, Inc.1 | 82,465 | 921,959 | ||||||
Robert Half International, Inc. | 1,866,080 | 53,108,637 | ||||||
Towers Watson & Co., Cl. A | 52,880 | 3,169,098 | ||||||
TrueBlue, Inc.1 | 143,496 | 1,991,724 | ||||||
93,444,487 | ||||||||
Road & Rail—2.1% | ||||||||
Genesee & Wyoming, Inc., Cl. A1 | 254,570 | 15,421,851 | ||||||
Knight Transportation, Inc. | 281,655 | 4,405,084 | ||||||
Old Dominion Freight Line, Inc.1 | 1,085,409 | 43,991,627 | ||||||
RailAmerica, Inc.1 | 30,740 | 457,719 | ||||||
Werner Enterprises, Inc. | 75,574 | 1,821,333 | ||||||
66,097,614 | ||||||||
Trading Companies & Distributors—0.5% | ||||||||
Applied Industrial Technologies, Inc. | 265,840 | 9,349,593 | ||||||
Beacon Roofing Supply, Inc.1 | 91,240 | 1,845,785 | ||||||
Interline Brands, Inc.1 | 241,709 | 3,763,409 | ||||||
14,958,787 | ||||||||
Transportation Infrastructure—0.0% | ||||||||
Wesco Aircraft Holdings, Inc.1 | 29,900 | 418,301 | ||||||
Information Technology—15.7% | ||||||||
Communications Equipment—1.8% | ||||||||
Aruba Networks, Inc.1 | 1,320,410 | 24,453,993 | ||||||
Brocade Communications Systems, Inc.1 | 359,110 | 1,863,781 | ||||||
Finisar Corp.1 | 1,283,840 | 21,497,901 | ||||||
Ituran Location & Control Ltd. | 80,671 | 1,102,773 | ||||||
Plantronics, Inc. | 162,105 | 5,777,422 | ||||||
Riverbed Technology, Inc.1 | 28,371 | 666,719 | ||||||
55,362,589 | ||||||||
Computers & Peripherals—1.6% | ||||||||
Cray, Inc.1 | 116,020 | 750,649 | ||||||
Electronics for Imaging, Inc.1 | 317,517 | 4,524,617 | ||||||
Lexmark International, Inc., Cl. A | 13,750 | 454,713 | ||||||
QLogic Corp.1 | 514,764 | 7,721,460 | ||||||
STEC, Inc.1 | 71,496 | 614,151 | ||||||
Synaptics, Inc.1 | 289,278 | 8,721,732 | ||||||
Western Digital Corp.1 | 906,700 | 28,062,365 | ||||||
50,849,687 | ||||||||
Electronic Equipment & Instruments—1.3% | ||||||||
Avnet, Inc.1 | 25,367 | 788,660 | ||||||
AVX Corp. | 387,502 | 4,944,526 | ||||||
Brightpoint, Inc.1 | 318,505 | 3,427,114 | ||||||
Daktronics, Inc. | 104,190 | 997,098 | ||||||
DDi Corp. | 187,729 | 1,751,512 | ||||||
Electro Scientific Industries, Inc.1 | 76,676 | 1,110,268 | ||||||
Elster Group SE, ADR1 | 81,468 | 1,059,084 | ||||||
Flextronics International Ltd.1 | 225,233 | 1,274,819 | ||||||
Itron, Inc.1 | 9,075 | 324,613 |
Shares | Value | |||||||
Electronic Equipment & Instruments Continued | ||||||||
Jabil Circuit, Inc. | 294,990 | $ | 5,799,503 | |||||
Littlefuse, Inc. | 55,260 | 2,375,075 | ||||||
Molex, Inc. | 254,806 | 6,079,671 | ||||||
Newport Corp.1 | 216,453 | 2,945,925 | ||||||
Tech Data Corp.1 | 14,800 | 731,268 | ||||||
TTM Technologies, Inc.1 | 145,711 | 1,596,993 | ||||||
Vishay Intertechnology, Inc.1 | 540,480 | 4,858,915 | ||||||
X-Rite, Inc.1 | 108,699 | 504,363 | ||||||
Zygo Corp.1 | 14,026 | 247,559 | ||||||
40,816,966 | ||||||||
Internet Software & Services—0.9% | ||||||||
Ancestry.com, Inc.1 | 14,731 | 338,224 | ||||||
AOL, Inc.1 | 48,375 | 730,463 | ||||||
Demand Media, Inc.1 | 92,560 | 615,524 | ||||||
Digital River, Inc.1 | 33,648 | 505,393 | ||||||
j2 Global, Inc. | 459,208 | 12,922,113 | ||||||
Monster Worldwide, Inc.1 | 37,010 | 293,489 | ||||||
OpenTable, Inc.1 | 10,860 | 424,952 | ||||||
QuinStreet, Inc.1 | 89,523 | 837,935 | ||||||
United Online, Inc. | 398,527 | 2,167,987 | ||||||
ValueClick, Inc.1 | 472,251 | 7,692,969 | ||||||
WebMD Health Corp., Cl. A1 | 21,446 | 805,297 | ||||||
27,334,346 | ||||||||
IT Services—2.4% | ||||||||
Acxiom Corp.1 | 423,710 | 5,173,499 | ||||||
Alliance Data Systems Corp.1 | 3,450 | 358,248 | ||||||
Amdocs Ltd.1 | 153,700 | 4,385,061 | ||||||
Booz Allen Hamilton | ||||||||
Holding Corp.1 | 107,798 | 1,859,516 | ||||||
Broadridge Financial Solutions, Inc. | 139,661 | 3,149,356 | ||||||
CACI International, Inc., Cl. A1 | 329,224 | 18,410,206 | ||||||
CGI Group, Inc., Cl. A1 | 301,000 | 5,673,850 | ||||||
Convergys Corp.1 | 228,982 | 2,924,100 | ||||||
CSG Systems International, Inc.1 | 241,660 | 3,554,819 | ||||||
Euronet Worldwide, Inc.1 | 153,859 | 2,843,314 | ||||||
FleetCor Technologies, Inc.1 | 24,663 | 736,684 | ||||||
Genpact Ltd.1 | 155,456 | 2,324,067 | ||||||
Global Payments, Inc. | 15,752 | 746,330 | ||||||
Henry (Jack) & Associates, Inc. | 23,446 | 788,020 | ||||||
ManTech International Corp. | 187,450 | 5,855,938 | ||||||
Maximus, Inc. | 20,877 | 863,264 | ||||||
NeuStar, Inc., | ||||||||
Cl. A1 | 230,410 | 7,873,110 | ||||||
SAIC, Inc.1 | 504,750 | 6,203,378 | ||||||
ServiceSource International, Inc.1 | 29,900 | 469,131 | ||||||
Total System Services, Inc. | 70,042 | 1,370,022 | ||||||
VeriFone Systems, Inc.1 | 12,220 | 434,054 | ||||||
75,995,967 | ||||||||
Semiconductors & Semiconductor | ||||||||
Equipment—4.5% | ||||||||
ASM International NV | 72,935 | 2,128,243 | ||||||
Atmel Corp.1 | 174,830 | 1,416,123 | ||||||
ATMI, Inc.1 | 141,069 | 2,825,612 | ||||||
Brooks Automation, Inc. | 640,807 | 6,581,088 |
Shares | Value | |||||||
Semiconductors & Semiconductor | ||||||||
Equipment Continued | ||||||||
Cabot Microelectronics Corp.1 | 9,400 | $ | 444,150 | |||||
Cavuim, Inc.1 | 664,550 | 18,893,157 | ||||||
Cypress Semiconductor Corp. | 320,696 | 5,416,555 | ||||||
Entegris, Inc.1 | 550,642 | 4,804,351 | ||||||
Entropic Communications, Inc.1 | 536,630 | 2,742,179 | ||||||
Fairchild Semiconductor International, Inc., Cl. A1 | 93,373 | 1,124,211 | ||||||
GT Advanced Technologies, Inc.1 | 788,785 | 5,710,803 | ||||||
IXYS Corp.1 | 122,986 | 1,331,938 | ||||||
KLA-Tencor Corp. | 6,897 | 332,780 | ||||||
Kulicke & Soffa Industries, Inc.1 | 459,259 | 4,248,146 | ||||||
Lattice Semiconductor Corp.1 | 1,202,782 | 7,144,525 | ||||||
LSI Corp.1 | 941,266 | 5,600,533 | ||||||
Magnachip Semiconductor Corp., Depositary Shares1 | 25,860 | 193,433 | ||||||
Micrel, Inc. | 189,529 | 1,916,138 | ||||||
Nanometrics, Inc.1 | 362,539 | 6,677,968 | ||||||
OmniVision Technologies, Inc.1 | 73,250 | 896,214 | ||||||
Photronics, Inc.1 | 363,675 | 2,211,144 | ||||||
Rudolph Technologies, Inc.1 | 130,715 | 1,210,421 | ||||||
Semtech Corp.1 | 1,288,127 | 31,971,312 | ||||||
Skyworks Solutions, Inc.1 | 1,490,820 | 24,181,100 | ||||||
140,002,124 | ||||||||
Software—3.2% | ||||||||
BMC Software, Inc.1 | 26,680 | 874,570 | ||||||
Cadence Design Systems, Inc.1 | 647,165 | 6,730,516 | ||||||
Ebix, Inc. | 28,330 | 626,093 | ||||||
FactSet Research Systems, Inc. | 142,069 | 12,399,782 | ||||||
Fair Isaac Corp. | 13,540 | 485,274 | ||||||
Fortinet, Inc.1 | 665,070 | 14,505,177 | ||||||
Informatica Corp.1 | 7,868 | 290,565 | ||||||
JDA Software Group, Inc.1 | 166,385 | 5,389,210 | ||||||
Manhattan Associates, Inc.1 | 8,598 | 348,047 | ||||||
Monotype Imaging Holdings, Inc.1 | 107,008 | 1,668,255 | ||||||
NetScout Systems, Inc.1 | 53,215 | 936,584 | ||||||
Progress Software Corp.1 | 340 | 6,579 | ||||||
Solarwinds, Inc.1 | 472,080 | 13,194,636 | ||||||
Synopsys, Inc.1 | 201,155 | 5,471,416 | ||||||
TIBCO Software, Inc.1 | 1,272,750 | 30,431,453 | ||||||
Websense, Inc.1 | 338,064 | 6,331,939 | ||||||
99,690,096 | ||||||||
Materials—5.7% | ||||||||
Chemicals—2.1% | ||||||||
American Vanguard Corp. | 95,937 | 1,279,800 | ||||||
Chemtura Corp.1 | 29,944 | 339,565 | ||||||
Cytec Industries, Inc. | 515,161 | 23,001,939 | ||||||
Ferro Corp.1 | 774,320 | 3,786,425 | ||||||
Fuller (H.B.) Co. | 265,943 | 6,145,943 | ||||||
Huntsman Corp. | 58,634 | 586,340 | ||||||
Innospec, Inc.1 | 14,594 | 409,654 | ||||||
Koppers Holdings, Inc. | 83,595 | 2,872,324 | ||||||
Kronos Worldwide, Inc. | 159,712 | 2,881,204 |
Shares | Value | |||||||
Chemicals Continued | ||||||||
LSB Industries, Inc.1 | 99,912 | $ | 2,800,533 | |||||
Methanex Corp. | 45,620 | 1,041,048 | ||||||
Olin Corp. | 307,812 | 6,048,506 | ||||||
PolyOne Corp. | 369,250 | 4,264,838 | ||||||
Schulman (A.), Inc. | 80,995 | 1,715,474 | ||||||
Tredegar Corp. | 121,328 | 2,695,908 | ||||||
Valspar Corp. (The) | 70,270 | 2,738,422 | ||||||
Westlake Chemical Corp. | 72,984 | 2,936,876 | ||||||
65,544,799 | ||||||||
Containers & Packaging—1.5% | ||||||||
Boise, Inc. | 780,670 | 5,558,370 | ||||||
Graphic Packaging Holding Co.1 | 925,594 | 3,943,030 | ||||||
Myers Industries, Inc. | 83,647 | 1,032,204 | ||||||
Packaging Corp. of America | 1,133,260 | 28,603,482 | ||||||
Sealed Air Corp. | 347,857 | 5,986,619 | ||||||
Silgan Holdings, Inc. | 31,843 | 1,230,414 | ||||||
46,354,119 | ||||||||
Metals & Mining—1.5% | ||||||||
Century Aluminum Co.1 | 1,416,314 | 12,052,832 | ||||||
Compass Minerals International, Inc. | 230,500 | 15,869,925 | ||||||
Nevsun Resources Ltd. | 52,200 | 288,666 | ||||||
Noranda Aluminum Holding Corp. | 86,130 | 710,573 | ||||||
Pan American Silver Corp. | 171,650 | 3,743,687 | ||||||
Steel Dynamics, Inc. | 462,482 | 6,081,638 | ||||||
Worthington Industries, Inc. | 405,603 | 6,643,777 | ||||||
45,391,098 | ||||||||
Paper & Forest Products—0.6% | ||||||||
Buckeye Technologies, Inc. | 320,884 | 10,730,361 | ||||||
Glatfelter | 433,083 | 6,115,132 | ||||||
KapStone Paper & Packing Corp.1 | 63,721 | $ | 1,002,969 | |||||
Mercer International, Inc.1 | 132,834 | 810,287 | ||||||
18,658,749 | ||||||||
Telecommunication Services—0.9% | ||||||||
Diversified Telecommunication Services—0.6% | ||||||||
AboveNet, Inc.1 | 6,710 | 436,217 | ||||||
Brasil Telecom | ||||||||
SA, ADR | 131,941 | 2,347,230 | ||||||
Cincinnati Bell, Inc.1 | 290,964 | 881,621 | ||||||
Nortel Inversora SA, Sponsored ADR1 | 64,600 | 1,497,428 | ||||||
Telecom Argentina SA, Sponsored ADR | 311,941 | 5,577,505 | ||||||
Telecom Corp. of New Zealand Ltd., Sponsored ADR | 540,103 | 4,315,423 | ||||||
Vonage Holdings Corp.1 | 1,892,910 | 4,637,630 | ||||||
19,693,054 | ||||||||
Wireless Telecommunication Services—0.3% | ||||||||
Cellcom Israel Ltd. | 152,686 | 2,580,393 | ||||||
Partner Communications Co. Ltd., Sponsored ADR | 66,083 | 584,174 | ||||||
Telephone & Data Systems, Inc. | 11,080 | 286,861 | ||||||
USA Mobility, Inc. | 365,966 | 5,075,948 | ||||||
8,527,376 | ||||||||
Utilities—4.1% | ||||||||
Electric Utilities—0.9% | ||||||||
Cleco Corp. | 7,770 | 296,037 | ||||||
Companhia Energetica de Minas Gerais, Sponsored AD R | 367,112 | 6,530,922 | ||||||
Companhia Paranaense de Energia-Copel, Sponsored A DR | 333,201 | 6,990,557 | ||||||
El Paso Electric Co. | 29,150 | 1,009,756 |
Shares | Value | |||||||
Electric Utilities Continued | ||||||||
Empire District Electric Co. | 151 | $ | 3,185 | |||||
NV Energy, Inc. | 233,085 | 3,810,940 | ||||||
Portland General Electric Co. | 334,798 | 8,467,041 | ||||||
UniSource Energy Corp. | 7,076 | 261,246 | ||||||
27,369,684 | ||||||||
Energy Traders—1.4% | ||||||||
AES Corp. (The)1 | 3,691,086 | 43,702,458 | ||||||
Gas Utilities—0.1% | ||||||||
Atmos Energy Corp. | 98,421 | 3,282,340 | ||||||
Laclede Group, Inc. (The) | 820 | 33,185 | ||||||
3,315,525 | ||||||||
Multi-Utilities—1.2% | ||||||||
Avista Corp. | 124,143 | 3,196,682 | ||||||
CenterPoint Energy, Inc. | 258,276 | 5,188,765 | ||||||
CMS Energy Corp. | 396,310 | 8,750,525 | ||||||
NorthWestern Corp. | 181,439 | 6,493,702 | ||||||
Teco Energy, Inc. | 490,000 | 9,378,600 | ||||||
Vectren Corp. | 143,215 | 4,329,389 | ||||||
37,337,663 | ||||||||
Water Utilities—0.5% | ||||||||
Aqua America, Inc. | 678,080 | $ | 14,951,664 | |||||
Total Common Stocks (Cost $2,766,813,038) | 3,099,112,321 | |||||||
Investment Companies—1.2% | ||||||||
BlackRock Kelso Capital Corp. | 12,099 | 98,728 | ||||||
Oppenheimer Institutional Money Market Fund, Cl. E, 0.20%2,3 | 38,817,991 | 38,817,991 | ||||||
Prospect Capital Corp. | 79,954 | 742,773 | ||||||
Total Investment Companies (Cost $39,637,645) | 39,659,492 | |||||||
Total Investments, at Value (Cost $2,806,450,683) | 100.7 | % | 3,138,771,813 | |||||
Liabilities in Excess of Other Assets | (0.7 | ) | (23,338,906 | ) | ||||
Net Assets | 100.0 | % | $ | 3,115,432,907 | ||||
Footnotes to Statement of Investments | ||
* | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. | |
1. | Non-income producing security. | |
2. | Is or was an affiliate, as defined in the Investment Company Act of 1940, at or during the period ended |
Shares | Gross | Gross | Shares | |||||||||||||
June 30, 2011 | Additions | Reductions | December 30, 2011 | |||||||||||||
Oppenheimer Institutional Money Market Fund, Cl. E | 37,550,807 | 379,875,791 | 378,608,607 | 38,817,991 |
Value | Income | |||||||
Oppenheimer Institutional Money Market Fund, Cl. E | $ | 38,817,991 | $ | 23,099 |
1) | Level 1—unadjusted quoted prices in active markets for identical assets or liabilities (including securities actively traded on a securities exchange) | ||
2) | Level 2—inputs other than unadjusted quoted prices that are observable for the asset or liability (such as unadjusted quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.) | ||
3) | Level 3—significant unobservable inputs (including the Manager’s own judgments about assumptions that market participants would use in pricing the asset or liability). |
Level 2– | ||||||||||||||||
Other | Level 3– | |||||||||||||||
Level 1– | Significant | Significant | ||||||||||||||
Unadjusted | Observable | Unobservable | ||||||||||||||
Quoted Prices | Inputs | Inputs | Value | |||||||||||||
Assets Table | ||||||||||||||||
Investments, at Value: | ||||||||||||||||
Common Stocks | ||||||||||||||||
Consumer Discretionary | $ | 515,745,677 | $ | — | $ | — | $ | 515,745,677 | ||||||||
Consumer Staples | 80,715,678 | — | — | 80,715,678 | ||||||||||||
Energy | 211,668,521 | — | — | 211,668,521 | ||||||||||||
Financials | 652,459,732 | — | — | 652,459,732 | ||||||||||||
Health Care | 312,359,872 | — | 141 | 312,360,013 | ||||||||||||
Industrials | 505,189,018 | — | 75,718 | 505,264,736 | ||||||||||||
Information Technology | 490,051,775 | — | — | 490,051,775 | ||||||||||||
Materials | 175,948,765 | — | — | 175,948,765 | ||||||||||||
Telecommunication Services | 28,220,430 | — | — | 28,220,430 | ||||||||||||
Utilities | 126,676,994 | — | — | 126,676,994 | ||||||||||||
Investment Companies | 39,659,492 | — | — | 39,659,492 | ||||||||||||
Total Assets | $ | 3,138,695,954 | $ | — | $ | 75,859 | $ | 3,138,771,813 | ||||||||
Assets | ||||
Investments, at value—see accompanying statement of investments: | ||||
Unaffiliated companies (cost $2,767,632,692) | $ | 3,099,953,822 | ||
Affiliated companies (cost $38,817,991) | 38,817,991 | |||
3,138,771,813 | ||||
Cash | 6,983 | |||
Receivables and other assets: | ||||
Investments sold | 33,210,462 | |||
Dividends | 3,838,800 | |||
Other | 82,654 | |||
Total assets | 3,175,910,712 | |||
Liabilities | ||||
Payables and other liabilities: | ||||
Investments purchased | 39,570,899 | |||
Shares of beneficial interest redeemed | 19,136,903 | |||
Transfer and shareholder servicing agent fees | 857,991 | |||
Distribution and service plan fees | 478,010 | |||
Shareholder communications | 308,807 | |||
Trustees’ compensation | 75,891 | |||
Other | 49,304 | |||
Total liabilities | 60,477,805 | |||
Net Assets | $ | 3,115,432,907 | ||
Composition of Net Assets | ||||
Par value of shares of beneficial interest | $ | 157,459 | ||
Additional paid-in capital | 3,635,400,988 | |||
Accumulated net investment income | 287,687 | |||
Accumulated net realized loss on investments and foreign currency transactions | (852,734,357 | ) | ||
Net unrealized appreciation on investments and translation of assets and liabilities denominated in foreign currencies | 332,321,130 | |||
Net Assets | $ | 3,115,432,907 | ||
Net Asset Value Per Share | ||||
Class A Shares: | ||||
Net asset value and redemption price per share (based on net assets of $1,623,557,414 and 81,833,535 shares of beneficial interest outstanding) | $ | 19.84 | ||
Maximum offering price per share (net asset value plus sales charge of 5.75% of offering price) | $ | 21.05 | ||
Class B Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $74,696,601 and 4,203,711 shares of beneficial interest outstanding) | $ | 17.77 | ||
Class C Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $314,450,309 and 17,584,789 shares of beneficial interest outstanding) | $ | 17.88 | ||
Class N Shares: | ||||
Net asset value, redemption price (excludes applicable contingent deferred sales charge) and offering price per share (based on net assets of $221,310,246 and 11,502,192 shares of beneficial interest outstanding) | $ | 19.24 | ||
Class Y Shares: | ||||
Net asset value, redemption price and offering price per share (based on net assets of $881,418,337 and 42,334,466 shares of beneficial interest outstanding) | $ | 20.82 |
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. |
Investment Income | ||||
Dividends: | ||||
Unaffiliated companies (net of foreign withholding taxes of $81,953) | $ | 17,263,361 | ||
Affiliated companies | 23,099 | |||
Interest | 632 | |||
Other income | 51,270 | |||
Total investment income | 17,338,362 | |||
Expenses | ||||
Management fees | 10,153,300 | |||
Distribution and service plan fees: | ||||
Class A | 2,087,325 | |||
Class B | 392,136 | |||
Class C | 1,622,947 | |||
Class N | 575,895 | |||
Transfer and shareholder servicing agent fees: | ||||
Class A | 3,062,320 | |||
Class B | 279,154 | |||
Class C | 583,920 | |||
Class N | 508,583 | |||
Class Y | 1,022,896 | |||
Shareholder communications: | ||||
Class A | 109,273 | |||
Class B | 26,668 | |||
Class C | 25,550 | |||
Class N | 15,348 | |||
Class Y | 65,728 | |||
Trustees’ compensation | 65,862 | |||
Custodian fees and expenses | 8,012 | |||
Administration service fees | 750 | |||
Other | 117,401 | |||
Total expenses | 20,723,068 | |||
Less waivers and reimbursements of expenses | (390,602 | ) | ||
Net expenses | 20,332,466 | |||
Net Investment Loss | (2,994,104 | ) | ||
Realized and Unrealized Gain (Loss) | ||||
Net realized gain (loss) on: | ||||
Investments from unaffiliated companies | 90,830,109 | |||
Foreign currency transactions | (55 | ) | ||
Net realized gain | 90,830,054 | |||
Net change in unrealized appreciation/depreciation on: | ||||
Investments | (456,925,300 | ) | ||
Translation of assets and liabilities denominated in foreign currencies | (17 | ) | ||
Net change in unrealized appreciation/depreciation | (456,925,317 | ) | ||
Net Decrease in Net Assets Resulting from Operations | $ | (369,089,367 | ) | |
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. |
Six Months | Year | |||||||
Ended | Ended | |||||||
December 30, 20111 | June 30, | |||||||
(Unaudited) | 2011 | |||||||
Operations | ||||||||
Net investment income (loss) | $ | (2,994,104 | ) | $ | 10,291,364 | |||
Net realized gain | 90,830,054 | 631,281,160 | ||||||
Net change in unrealized appreciation/depreciation | (456,925,317 | ) | 454,799,404 | |||||
Net increase (decrease) in net assets resulting from operations | (369,089,367 | ) | 1,096,371,928 | |||||
Dividends and/or Distributions to Shareholders | ||||||||
Dividends from net investment income: | ||||||||
Class A | (3,870,482 | ) | — | |||||
Class B | — | — | ||||||
Class C | — | — | ||||||
Class N | — | — | ||||||
Class Y | (5,475,891 | ) | (3,607,957 | ) | ||||
(9,346,373 | ) | (3,607,957 | ) | |||||
Beneficial Interest Transactions | ||||||||
Net decrease in net assets resulting from beneficial | ||||||||
interest transactions: | ||||||||
Class A | (200,984,181 | ) | (415,952,822 | ) | ||||
Class B | (18,705,949 | ) | (35,467,205 | ) | ||||
Class C | (30,835,082 | ) | (49,534,757 | ) | ||||
Class N | (25,270,163 | ) | (46,774,982 | ) | ||||
Class Y | (76,652,451 | ) | (55,353,322 | ) | ||||
(352,447,826 | ) | (603,083,088 | ) | |||||
Net Assets | ||||||||
Total increase (decrease) | (730,883,566 | ) | 489,680,883 | |||||
Beginning of period | 3,846,316,473 | 3,356,635,590 | ||||||
End of period (including accumulated net investment income of $8,303,760 and $12,628,164, respectively) | $ | 3,115,432,907 | $ | 3,846,316,473 | ||||
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
December 30, 20111 | Year Ended June 30, | |||||||||||||||||||||||
Class A | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 21.99 | $ | 16.33 | $ | 13.70 | $ | 17.87 | $ | 24.25 | $ | 22.27 | ||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)2 | (.02 | ) | .05 | .02 | .08 | (.04 | ) | .08 | ||||||||||||||||
Net realized and unrealized gain (loss) | (2.08 | ) | 5.61 | 2.64 | (4.22 | ) | (4.28 | ) | 3.45 | |||||||||||||||
Total from investment operations | (2.10 | ) | 5.66 | 2.66 | (4.14 | ) | (4.32 | ) | 3.53 | |||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||||||
Dividends from net investment income | (.05 | ) | — | (.03 | ) | — | (.05 | ) | — | |||||||||||||||
Distributions from net realized gain | — | — | — | (.03 | ) | (2.00 | ) | (1.55 | ) | |||||||||||||||
Tax return of capital distribution | — | — | — | — | (.01 | ) | — | |||||||||||||||||
Total dividends and/or distributions to shareholders | (.05 | ) | — | (.03 | ) | (.03 | ) | (2.06 | ) | (1.55 | ) | |||||||||||||
Net asset value, end of period | $ | 19.84 | $ | 21.99 | $ | 16.33 | $ | 13.70 | $ | 17.87 | $ | 24.25 | ||||||||||||
Total Return, at Net Asset Value3 | (9.56 | )% | 34.66 | % | 19.45 | % | (23.14 | )% | (18.66 | )% | 16.48 | % | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 1,623,558 | $ | 2,026,656 | $ | 1,849,907 | $ | 1,804,702 | $ | 3,304,735 | $ | 3,766,574 | ||||||||||||
Average net assets (in thousands) | $ | 1,689,037 | $ | 2,016,616 | $ | 1,988,573 | $ | 2,231,028 | $ | 3,576,817 | $ | 3,086,495 | ||||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||||||
Net investment income (loss) | (0.17 | )% | 0.28 | % | 0.13 | % | 0.58 | % | (0.17 | )% | 0.35 | % | ||||||||||||
Total expenses5 | 1.26 | % | 1.25 | % | 1.31 | % | 1.38 | % | 1.19 | % | 1.12 | % | ||||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.25 | % | 1.24 | % | 1.25 | % | 1.22 | % | 1.19 | % | 1.12 | % | ||||||||||||
Portfolio turnover rate | 42 | % | 86 | % | 101 | % | 95 | % | 134 | % | 114 | % |
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended December 30, 2011 | 1.26 | % | ||
Year Ended June 30, 2011 | 1.25 | % | ||
Year Ended June 30, 2010 | 1.31 | % | ||
Year Ended June 30, 2009 | 1.38 | % | ||
Year Ended June 30, 2008 | 1.19 | % | ||
Year Ended June 30, 2007 | 1.12 | % |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
December 30, 20111 | Year Ended June 30, | |||||||||||||||||||||||
Class B | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 19.72 | $ | 14.77 | $ | 12.46 | $ | 16.39 | $ | 22.53 | $ | 20.94 | ||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment loss2 | (.08 | ) | (.09 | ) | (.10 | ) | (.03 | ) | (.17 | ) | (.10 | ) | ||||||||||||
Net realized and unrealized gain (loss) | (1.87 | ) | 5.04 | 2.41 | (3.87 | ) | (3.96 | ) | 3.24 | |||||||||||||||
Total from investment operations | (1.95 | ) | 4.95 | 2.31 | (3.90 | ) | (4.13 | ) | 3.14 | |||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||||||
Dividends from net investment income | — | — | — | — | — | — | ||||||||||||||||||
Distributions from net realized gain | — | — | — | (.03 | ) | (2.00 | ) | (1.55 | ) | |||||||||||||||
Tax return of capital distribution | — | — | — | — | (.01 | ) | — | |||||||||||||||||
Total dividends and/or distributions to shareholders | — | — | — | (.03 | ) | (2.01 | ) | (1.55 | ) | |||||||||||||||
Net asset value, end of period | $ | 17.77 | $ | 19.72 | $ | 14.77 | $ | 12.46 | $ | 16.39 | $ | 22.53 | ||||||||||||
Total Return, at Net Asset Value3 | (9.89 | )% | 33.51 | % | 18.54 | % | (23.77 | )% | (19.25 | )% | 15.63 | % | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 74,697 | $ | 102,861 | $ | 106,797 | $ | 132,615 | $ | 261,085 | $ | 473,768 | ||||||||||||
Average net assets (in thousands) | $ | 78,215 | $ | 107,948 | $ | 129,492 | $ | 160,939 | $ | 357,794 | $ | 479,042 | ||||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||||||
Net investment loss | (0.97 | )% | (0.51 | )% | (0.65 | )% | (0.21 | )% | (0.89 | )% | (0.46 | )% | ||||||||||||
Total expenses5 | 2.42 | % | 2.29 | % | 2.35 | % | 2.22 | % | 1.92 | % | 1.89 | % | ||||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 2.05 | % | 2.04 | % | 2.05 | % | 2.02 | % | 1.92 | % | 1.89 | % | ||||||||||||
Portfolio turnover rate | 42 | % | 86 | % | 101 | % | 95 | % | 134 | % | 114 | % |
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended December 30, 2011 | 2.42 | % | ||
Year Ended June 30, 2011 | 2.29 | % | ||
Year Ended June 30, 2010 | 2.35 | % | ||
Year Ended June 30, 2009 | 2.22 | % | ||
Year Ended June 30, 2008 | 1.92 | % | ||
Year Ended June 30, 2007 | 1.89 | % |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
December 30, 20111 | Year Ended June 30, | |||||||||||||||||||||||
Class C | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 19.84 | $ | 14.85 | $ | 12.53 | $ | 16.47 | $ | 22.62 | $ | 21.01 | ||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment loss2 | (.08 | ) | (.08 | ) | (.09 | ) | (.02 | ) | (.16 | ) | (.08 | ) | ||||||||||||
Net realized and unrealized gain (loss) | (1.88 | ) | 5.07 | 2.41 | (3.89 | ) | (3.98 | ) | 3.24 | |||||||||||||||
Total from investment operations | (1.96 | ) | 4.99 | 2.32 | (3.91 | ) | (4.14 | ) | 3.16 | |||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||||||
Dividends from net investment income | — | — | — | — | — | — | ||||||||||||||||||
Distributions from net realized gain | — | — | — | (.03 | ) | (2.00 | ) | (1.55 | ) | |||||||||||||||
Tax return of capital distribution | — | — | — | — | (.01 | ) | — | |||||||||||||||||
Total dividends and/or distributions to shareholders | — | — | — | (.03 | ) | (2.01 | ) | (1.55 | ) | |||||||||||||||
Net asset value, end of period | $ | 17.88 | $ | 19.84 | $ | 14.85 | $ | 12.53 | $ | 16.47 | $ | 22.62 | ||||||||||||
Total Return, at Net Asset Value3 | (9.88 | )% | 33.60 | % | 18.52 | % | (23.72 | )% | (19.21 | )% | 15.68 | % | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 314,450 | $ | 384,059 | $ | 329,180 | $ | 310,094 | $ | 505,404 | $ | 710,808 | ||||||||||||
Average net assets (in thousands) | $ | 322,627 | $ | 369,499 | $ | 350,612 | $ | 342,312 | $ | 602,381 | $ | 645,637 | ||||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||||||
Net investment loss | (0.93 | )% | (0.45 | )% | (0.63 | )% | (0.18 | )% | (0.86 | )% | (0.39 | )% | ||||||||||||
Total expenses5 | 2.02 | % | 1.99 | % | 2.06 | % | 2.08 | % | 1.88 | % | 1.84 | % | ||||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 2.01 | % | 1.97 | % | 2.01 | % | 1.98 | % | 1.88 | % | 1.84 | % | ||||||||||||
Portfolio turnover rate | 42 | % | 86 | % | 101 | % | 95 | % | 134 | % | 114 | % |
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended December 30, 2011 | 2.02 | % | ||
Year Ended June 30, 2011 | 1.99 | % | ||
Year Ended June 30, 2010 | 2.06 | % | ||
Year Ended June 30, 2009 | 2.08 | % | ||
Year Ended June 30, 2008 | 1.88 | % | ||
Year Ended June 30, 2007 | 1.84 | % |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
December 30, 20111 | Year Ended June 30, | |||||||||||||||||||||||
Class N | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 21.30 | $ | 15.86 | $ | 13.32 | $ | 17.42 | $ | 23.70 | $ | 21.87 | ||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income (loss)2 | (.04 | ) | .01 | (.02 | ) | .04 | (.09 | ) | .01 | |||||||||||||||
Net realized and unrealized gain (loss) | (2.02 | ) | 5.43 | 2.57 | (4.11 | ) | (4.18 | ) | 3.37 | |||||||||||||||
Total from investment operations | (2.06 | ) | 5.44 | 2.55 | (4.07 | ) | (4.27 | ) | 3.38 | |||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||||||
Dividends from net investment income | — | — | (.01 | ) | — | — | — | |||||||||||||||||
Distributions from net realized gain | — | — | — | (.03 | ) | (2.00 | ) | (1.55 | ) | |||||||||||||||
Tax return of capital distribution | — | — | — | — | (.01 | ) | — | |||||||||||||||||
Total dividends and/or distributions to shareholders | — | — | (.01 | ) | (.03 | ) | (2.01 | ) | (1.55 | ) | ||||||||||||||
Net asset value, end of period | $ | 19.24 | $ | 21.30 | $ | 15.86 | $ | 13.32 | $ | 17.42 | $ | 23.70 | ||||||||||||
Total Return, at Net Asset Value3 | (9.67 | )% | 34.30 | % | 19.15 | % | (23.34 | )% | (18.87 | )% | 16.08 | % | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 221,310 | $ | 273,682 | $ | 242,128 | $ | 205,574 | $ | 275,975 | $ | 300,360 | ||||||||||||
Average net assets (in thousands) | $ | 228,986 | $ | 269,808 | $ | 244,540 | $ | 210,488 | $ | 289,699 | $ | 245,298 | ||||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||||||
Net investment income (loss) | (0.43 | )% | 0.03 | % | (0.11 | )% | 0.31 | % | (0.47 | )% | 0.02 | % | ||||||||||||
Total expenses5 | 1.60 | % | 1.60 | % | 1.68 | % | 1.79 | % | 1.55 | % | 1.45 | % | ||||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 1.50 | % | 1.49 | % | 1.49 | % | 1.49 | % | 1.48 | % | 1.45 | % | ||||||||||||
Portfolio turnover rate | 42 | % | 86 | % | 101 | % | 95 | % | 134 | % | 114 | % |
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended December 30, 2011 | 1.60 | % | ||
Year Ended June 30, 2011 | 1.60 | % | ||
Year Ended June 30, 2010 | 1.68 | % | ||
Year Ended June 30, 2009 | 1.79 | % | ||
Year Ended June 30, 2008 | 1.55 | % | ||
Year Ended June 30, 2007 | 1.45 | % |
Six Months | ||||||||||||||||||||||||
Ended | ||||||||||||||||||||||||
December 30, 20111 | Year Ended June 30, | |||||||||||||||||||||||
Class Y | (Unaudited) | 2011 | 2010 | 2009 | 2008 | 2007 | ||||||||||||||||||
Per Share Operating Data | ||||||||||||||||||||||||
Net asset value, beginning of period | $ | 23.12 | $ | 17.17 | $ | 14.38 | $ | 18.75 | $ | 25.32 | $ | 23.09 | ||||||||||||
Income (loss) from investment operations: | ||||||||||||||||||||||||
Net investment income2 | .02 | .14 | .10 | .13 | .05 | .20 | ||||||||||||||||||
Net realized and unrealized gain (loss) | (2.19 | ) | 5.89 | 2.77 | (4.44 | ) | (4.47 | ) | 3.58 | |||||||||||||||
Total from investment operations | (2.17 | ) | 6.03 | 2.87 | (4.31 | ) | (4.42 | ) | 3.78 | |||||||||||||||
Dividends and/or distributions to shareholders: | ||||||||||||||||||||||||
Dividends from net investment income | (.13 | ) | (.08 | ) | (.08 | ) | (.03 | ) | (.14 | ) | — | |||||||||||||
Distributions from net realized gain | — | — | — | (.03 | ) | (2.00 | ) | (1.55 | ) | |||||||||||||||
Tax return of capital distribution | — | — | — | — | (.01 | ) | — | |||||||||||||||||
Total dividends and/or distributions to shareholders | (.13 | ) | (.08 | ) | (.08 | ) | (.06 | ) | (2.15 | ) | (1.55 | ) | ||||||||||||
Net asset value, end of period | $ | 20.82 | $ | 23.12 | $ | 17.17 | $ | 14.38 | $ | 18.75 | $ | 25.32 | ||||||||||||
Total Return, at Net Asset Value3 | (9.36 | )% | 35.14 | % | 20.00 | % | (22.93 | )% | (18.28 | )% | 17.00 | % | ||||||||||||
Ratios/Supplemental Data | ||||||||||||||||||||||||
Net assets, end of period (in thousands) | $ | 881,418 | $ | 1,059,058 | $ | 828,624 | $ | 877,926 | $ | 1,020,424 | $ | 803,692 | ||||||||||||
Average net assets (in thousands) | $ | 894,054 | $ | 992,951 | $ | 914,353 | $ | 926,200 | $ | 746,300 | $ | 570,576 | ||||||||||||
Ratios to average net assets:4 | ||||||||||||||||||||||||
Net investment income | 0.19 | % | 0.69 | % | 0.55 | % | 0.93 | % | 0.25 | % | 0.83 | % | ||||||||||||
Total expenses5 | 0.88 | % | 0.83 | % | 0.83 | % | 0.89 | % | 0.76 | % | 0.66 | % | ||||||||||||
Expenses after payments, waivers and/or reimbursements and reduction to custodian expenses | 0.88 | % | 0.83 | % | 0.83 | % | 0.89 | % | 0.76 | % | 0.66 | % | ||||||||||||
Portfolio turnover rate | 42 | % | 86 | % | 101 | % | 95 | % | 134 | % | 114 | % |
1. | December 30, 2011 represents the last business day of the Fund’s semiannual period. See Note 1 of the accompanying Notes. | |
2. | Per share amounts calculated based on the average shares outstanding during the period. | |
3. | Assumes an initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns. Total returns are not annualized for periods less than one full year. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. | |
4. | Annualized for periods less than one full year. | |
5. | Total expenses including indirect expenses from affiliated fund were as follows: |
Six Months Ended December 30, 2011 | 0.88 | % | ||
Year Ended June 30, 2011 | 0.83 | % | ||
Year Ended June 30, 2010 | 0.83 | % | ||
Year Ended June 30, 2009 | 0.89 | % | ||
Year Ended June 30, 2008 | 0.76 | % | ||
Year Ended June 30, 2007 | 0.66 | % |
35 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
36 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
37 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
Expiring | ||||
2018 | $ | 932,799,194 |
Federal tax cost of securities | $ | 2,821,416,852 | ||
Gross unrealized appreciation | $ | 473,902,529 | ||
Gross unrealized depreciation | (156,547,568 | ) | ||
Net unrealized appreciation | $ | 317,354,961 | ||
38 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
39 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
Six Months Ended December 30, 2011 | Year Ended June 30, 2011 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class A | ||||||||||||||||
Sold | 4,820,646 | $ | 94,629,169 | 17,025,869 | $ | 332,860,164 | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | 192,910 | 3,653,717 | — | — | ||||||||||||
Redeemed | (15,360,683 | ) | (299,267,067 | ) | (38,122,341 | ) | (748,812,986 | ) | ||||||||
Net decrease | (10,347,127 | ) | $ | (200,984,181 | ) | (21,096,472 | ) | $ | (415,952,822 | ) | ||||||
Class B | ||||||||||||||||
Sold | 221,743 | $ | 3,863,883 | 671,549 | $ | 11,957,218 | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | — | — | — | — | ||||||||||||
Redeemed | (1,233,627 | ) | (22,569,832 | ) | (2,688,917 | ) | (47,424,423 | ) | ||||||||
Net decrease | (1,011,884 | ) | $ | (18,705,949 | ) | (2,017,368 | ) | $ | (35,467,205 | ) | ||||||
Class C | ||||||||||||||||
Sold | 852,793 | $ | 14,984,456 | 2,607,237 | $ | 47,265,544 | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | — | — | — | — | ||||||||||||
Redeemed | (2,622,512 | ) | (45,819,538 | ) | (5,422,660 | ) | (96,800,301 | ) | ||||||||
Net decrease | (1,769,719 | ) | $ | (30,835,082 | ) | (2,815,423 | ) | $ | (49,534,757 | ) | ||||||
Class N | ||||||||||||||||
Sold | 1,347,778 | $ | 25,532,271 | 3,393,296 | $ | 64,902,593 | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | — | — | — | — | ||||||||||||
Redeemed | (2,696,299 | ) | (50,802,434 | ) | (5,810,545 | ) | (111,677,575 | ) | ||||||||
Net decrease | (1,348,521 | ) | $ | (25,270,163 | ) | (2,417,249 | ) | $ | (46,774,982 | ) |
Six Months Ended December 30, 2011 | Year Ended June 30, 2011 | |||||||||||||||
Shares | Amount | Shares | Amount | |||||||||||||
Class Y | ||||||||||||||||
Sold | 5,014,698 | $ | 99,829,028 | 13,483,211 | $ | 274,079,268 | ||||||||||
Dividends and/or | ||||||||||||||||
distributions reinvested | 257,688 | 5,122,831 | 153,042 | 3,216,944 | ||||||||||||
Redeemed | (8,739,555 | ) | (181,604,310 | ) | (16,102,443 | ) | (332,649,534 | ) | ||||||||
Net decrease | (3,467,169 | ) | $ | (76,652,451 | ) | (2,466,190 | ) | $ | (55,353,322 | ) | ||||||
40 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
Purchases | Sales | |||||||
Investment securities | $ | 1,370,777,601 | $ | 1,712,516,869 |
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 |
41 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
Class C | $ | 11,219,967 | ||
Class N | 6,286,379 |
Class A | Class B | Class C | Class N | |||||||||||||||||
Class A | Contingent | Contingent | Contingent | Contingent | ||||||||||||||||
Front-End Sales | Deferred Sales | Deferred Sales | Deferred Sales | Deferred Sales | ||||||||||||||||
Charges | Charges | Charges | Charges | Charges | ||||||||||||||||
Six Months | Retained by | Retained by | Retained by | Retained by | Retained by | |||||||||||||||
Ended | Distributor | Distributor | Distributor | Distributor | Distributor | |||||||||||||||
December 30, 2011 | $ | 97,049 | $ | 2,068 | $ | 57,392 | $ | 8,913 | $ | 108 | ||||||||||
Class A | $ | 113,374 | ||
Class B | 142,951 | |||
Class C | 11,121 | |||
Class N | 109,555 |
42 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
43 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
44 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
Amount of Realized Gain or (Loss) Recognized on Derivatives | ||||
Derivatives Not Accounted | ||||
for as Hedging Instruments | Foreign currency transactions | |||
Foreign exchange contracts | $ | 2,100 | ||
45 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
46 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
47 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
48 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
49 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
50 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
51 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
Trustees and Officers | William L. Armstrong, Chairman of the Board of Trustees and Trustee | |
Edward L. Cameron, Trustee | ||
Jon S. Fossel, Trustee | ||
Sam Freedman, Trustee | ||
Beverly L. Hamilton, Trustee | ||
Robert J. Malone, Trustee | ||
F. William Marshall, Jr., Trustee | ||
William F. Glavin, Jr., Trustee, President and Principal Executive Officer | ||
Matthew P. Ziehl, Vice President | ||
Raymond Anello, Vice President | ||
Raman Vardharaj, Vice President | ||
Arthur S. Gabinet, Secretary | ||
Christina M. Nasta, Vice President and Chief Business Officer | ||
Mark S. Vandehey, Vice President and Chief Compliance Officer | ||
Brian W. Wixted, Treasurer and Principal Financial & Accounting Officer | ||
Manager | OppenheimerFunds, Inc. | |
Distributor | OppenheimerFunds Distributor, Inc. | |
Transfer and Shareholder Servicing Agent | OppenheimerFunds Services | |
Independent Registered Public Accounting Firm | KPMG LLP | |
Counsel | K&L Gates LLP | |
The financial statements included herein have been taken from the records of the Fund without examination of those records by the independent registered public accounting firm. |
52 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
• | Applications or other forms | |
• | When you create a user ID and password for online account access | |
• | When you enroll in eDocs Direct, our electronic document delivery service | |
• | Your transactions with us, our affiliates or others | |
• | A software program on our website, often referred to as a “cookie,” which indicates which parts of our site you’ve visited | |
• | When you set up challenge questions to reset your password online |
53 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
• | All transactions, including redemptions, exchanges and purchases, are secured by SSL and 128-bit encryption. SSL is used to establish a secure connection between your PC and OppenheimerFunds’ server. It transmits information in an encrypted and scrambled format. | |
• | Encryption is achieved through an electronic scrambling technology that uses a “key” to code and then decode the data. Encryption acts like the cable converter box you may have on your television set. It scrambles data with a secret code so that no one can make sense of it while it is being transmitted. When the data reaches its destination, the same software unscrambles the data. | |
• | You can exit the secure area by either closing your browser, or for added security, you can use the Log Out button before you close your browser. |
54 | OPPENHEIMER MAIN STREET SMALL- & MID-CAP FUND
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. |
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. |
(a) | (1) Not applicable to semiannual reports. | |
(2) Exhibits attached hereto. | ||
(3) Not applicable. | ||
(b) | Exhibit attached hereto. |
By: | /s/ William F. Glavin, Jr. | |||
William F. Glavin, Jr. | ||||
Principal Executive Officer | ||||
By: | /s/ William F. Glavin, Jr. | |||
William F. Glavin, Jr. | ||||
Principal Executive Officer | ||||
By: | /s/ Brian W. Wixted | |||
Brian W. Wixted | ||||
Principal Financial Officer | ||||