THE OAKMARK FAMILY OF FUNDS |
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Statement of Assets and Liabilities—April 30, 1997 (Unaudited) |
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THE OAKMARK FUND |
THE OAKMARK SELECT FUND |
THE OAKMARK SMALL CAP FUND |
THE OAKMARK BALANCED FUND |
THE OAKMARK INTERNATIONAL FUND |
THE OAKMARK INT'L SMALL CAP FUND |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Investments, at value | $ 4,884,556,589 (cost: $3,665,076,314) | $ 195,449,456 (cost: $198,750,947) | $ 622,021,050 (cost: $587,302,264) | $ 20,314,826 (cost: $18,398,120) | $ 1,479,617,664 (cost:$1,336,233,459) | $ 53,254,959 (cost: $52,361,715) | ||||||
| Cash | 2,361,753 | 875 | 863 | 390 | 154 | 385 | ||||||
| Foreign currency, at value | 477,899 (cost: $482,705) | 0 | 0 | 0 | 5,070,077 (cost: $5,092,823) | 296,653 (cost: $297,574) | ||||||
| Receivable for: | ||||||||||||
| Forward foreign currency contracts | 0 | 0 | 0 | 0 | 13,349,190 | 303 | ||||||
| Securities sold | 8,647,936 | 0 | 17,424 | 0 | 7,135,027 | 3,430,390 | ||||||
| Fund shares sold | 16,327,079 | 3,020,893 | 8,075,394 | 75,950 | 10,923,306 | 390,018 | ||||||
| Dividends and interest | 8,133,924 | 105,907 | 361,542 | 139,364 | 7,414,915 | 75,085 | ||||||
| Expense reimbursement | _____0 | _____0 | _____0 | 6,100 | _____0 | _____0 | ||||||
| Total receivables | 33,108,939 | 3,126,800 | 8,454,360 | 221,414 | 38,822,438 | 3,895,796 | ||||||
| Other assets | _____0 | 37,440 | 5,103 | 5,103 | 3,688 | 5,103 | ||||||
| Total assets | $ 4,920,505,180 =========== |
$ 198,614,571 =========== |
$ 630,481,376 =========== |
$ 20,541,733 =========== |
$ 1,523,514,021 =========== |
$ 57,452,896 =========== |
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| Liabilities and Net Assets | ||||||||||||
| Payable for: | ||||||||||||
| Securities purchased | 18,377,253 | 498,999 | 6,219,520 | 325,068 | 31,620,184 | 740,059 | ||||||
| Fund shares redeemed | 2,222,471 | 146,228 | 465,065 | 1,481 | 771,488 | 16,483 | ||||||
| Due to adviser | 3,728,789 | 167,061 | 656,983 | 12,833 | 1,172,172 | 57,356 | ||||||
| Forward foreign currency contracts | 0 | 0 | 0 | 0 | 124,591 | 2,001 | ||||||
| Other | 1,168,590 | 199,595 | 299,409 | 38,066 | 1,342,333 | 76,939 | ||||||
| Total liabilities | 25,497,103 | 1,011,883 | 7,640,977 | 377,448 | 35,030,768 | 892,838 | ||||||
| Net assets applicable to fund shares outstanding | $ 4,895,008,077 =========== |
$ 197,602,688 =========== |
$ 622,840,399 =========== |
$ 20,164,285 =========== |
$ 1,488,483,253
=========== |
$ 56,560,058 =========== |
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| Fund shares outstanding | 139,781,152 =========== |
16,135,055 =========== |
41,063,312 =========== |
1,658,346 =========== |
87,278,812 =========== |
4,833,387 =========== |
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| Pricing of Shares | ||||||||||||
| Net asset value per share | $ 35.02 =========== |
$ 12.25 =========== |
$ 15.17 =========== |
$ 12.16 =========== |
$ 17.05 =========== |
$ 11.70 =========== |
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| Analysis of Net Assets | ||||||||||||
| Paid in capital | $ 3,499,224,395 | $ 195,473,640 | $ 570,738,711 | $ 17,891,490 | $ 1,224,972,152 | $ 53,685,530 | ||||||
| Accumulated undistributed net realized gain on sale of investments, forward contracts and foreign currency exchange transactions | 156,941,679 | 5,633,992 | 18,268,189 | 132,261 | 60,388,114 | 1,992,796 | ||||||
| Net unrealized appreciation/depreciation of investments | 1,219,475,468 | (3,301,491) | 34,718,786 | 1,916,705 | 143,361,460 | 892,323 | ||||||
| Net unrealized appreciation of foreign currency portfolio hedges | 0 | 0 | 0 | 0 | 13,291,009 | 0 | ||||||
| Net unrealized appreciation — other | 0 | 0 | 0 | 0 | (138,008) | (4,417) | ||||||
| Accumulated undistributed net investment income (loss) | 19,366,535 | (203,453) | (885,287) | 223,829 | 46,608,526 | (6,174) | ||||||
| Net assets applicable to Fund shares outstanding | $ 4,895,008,077 =========== |
$ 197,602,688 =========== |
$ 622,840,399 =========== |
$ 20,164,285 =========== |
$ 1,488,483,253 =========== |
$ 56,560,058 =========== |
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See accompanying notes to financial statements.
THE OAKMARK FAMILY OF FUNDS |
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Statement of Operations–April 30, 1997 (Unaudited) |
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|
THE OAKMARK FUND |
THE OAKMARK SELECT FUND |
THE OAKMARK SMALL CAP FUND |
THE OAKMARK BALANCED FUND |
THE OAKMARK INTERNATIONAL FUND |
THE OAKMARK INT'L SMALL CAP FUND |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investment Income: | ||||||||||||
| Dividends | $ 38,786,131 | $ 337,622 | $ 1,620,777 | $ 139,463 | $ 20,403,305 | $ 580,566 | ||||||
| Interest Income | 10,996,923 | 197,112 | 845,849 | 230,271 | 1,927,671 | 56,964 | ||||||
| Securities lending income | 0 | 4,001 | 45,224 | 3,690 | 506,988 | 14,607 | ||||||
| Foreign taxes withheld | (106,561) | _____0 | _____0 | _____0 | (1,859,189) | (50,505) | ||||||
| Total investment income | 49,676,493 | 538,735 | 2,511,850 | 373,424 | 20,978,775 | 601,632 | ||||||
| Expenses: | ||||||||||||
| Investment advisory fee | 21,119,623 | 21,119,623 | 2,509,799 | 61,548 | 6,324,716 | 300,539 | ||||||
| Transfer and dividend disbursing agent fees | 1,579,924 | 75,989 | 205,210 | 26,328 | 485,088 | 45,134 | ||||||
| Reports to shareholders | 391,379 | 5,504 | 39,537 | 1,688 | 158,074 | 7,177 | ||||||
| Custodian and accounting fees | 256,285 | 18,385 | 51,046 | 20,265 | 736,644 | 67,556 | ||||||
| Registration and blue sky expenses | 184,360 | 130,657 | 169,329 | 21,358 | 59,888 | 24,017 | ||||||
| Legal fees | 23,007 | 8,940 | 7,805 | 4,879 | 8,454 | 4,941 | ||||||
| Audit fees | 8,437 | 9,804 | 8,194 | 8,937 | 12,394 | 11,373 | ||||||
| Trustees fees | 53,513 | 9,702 | 16,286 | 12,403 | 23,147 | 12,871 | ||||||
| Amortization of organization cost | 0 | 354 | 722 | 722 | 4,706 | 722 | ||||||
| Other | 666,240 | 36,268 | 122,795 | 2,363 | 284,263 | 9,685 | ||||||
| Total expenses | 24,282,768 | 742,948 | 3,130,723 | 160,491 | 8,097,374 | 484,015 | ||||||
| Expense offset arrangements | (11,354) | (760) | (9,785) | (135) | (3,479) | (325) | ||||||
| Expense reimbursement | _____0 | _____0 | _____0 | (33,700) | _____0 | _____0 | ||||||
| Net expenses | 24,271,414 | 742,188 | 3,120,938 | 126,656 | 8,093,895 | 483,690 | ||||||
| Net investment income (loss) | 25,405,079 | (203,453) | (609,088) | 246,768 | 12,884,880 | 117,942 | ||||||
| Net realized and unrealized gain (loss) on investments and foreign currency transactions: | ||||||||||||
| Net realized gain on investments | 156,689,717 | 5,633,992 | 18,511,480 | 132,510 | 86,831,881 | 2,062,598 | ||||||
| Net realized gain (loss) on foreign currency transactions | 2,143 | 0 | 0 | 0 | 7,458,175 | (44,245) | ||||||
| Net change in unrealized appreciation (depreciation) of investments and foreign currencies | 430,927,806 | (3,301,491) | 14,616,034 | 1,012,987 | 60,028,246 | 595,930 | ||||||
| Net change in appreciation of forward currency exchange contracts | 0 | 0 | 0 | 0 | 16,187,497 | 0 | ||||||
| Net change in appreciation (depreciation)–other | 0 | 0 | 0 | 0 | 56,122 | (2,629) | ||||||
| Net realized and unrealized gain on investments and foreign currency transactions | 587,619,666 | 2,332,501 | 33,127,514 | 1,145,497 | 170,561,921 | 2,611,654 | ||||||
| Net increase in net assets resulting from operations | $ 613,024,745 ============ |
$ 2,129,048 =========== |
$ 32,518,426 =========== |
$ 1,392,265 =========== |
$ 183,446,801 =========== |
$ 2,729,596 =========== |
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See accompanying notes to financial statements.
THE OAKMARK FAMILY OF FUNDS |
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Statement of Changes in Net Assets–April 30, 1997 |
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THE OAKMARK FUND |
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Period Ended April 30, 1997 (Unaudited) |
Year Ended October 31, 1996 |
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|---|---|---|---|---|
| From Operations: | ||||
| Net investment income | $ 25,405,079 | $ 41,568,343 | ||
| Net realized gain on sale of investments | 156,689,717 | 226,166,113 | ||
| Net realized gain (loss) on foreign currency transactions | 2,143 | (12,777) | ||
| Net change in unrealized appreciation | 430,927,806 | 290,431,755 | ||
| Net increase in net assets from operations | 613,024,745 | 558,153,434 | ||
| From distributions to shareholders: | ||||
| Net investment income (per share $.3441 in Fiscal Year 1997 and $.2841 in Fiscal Year 1996) | (41,659,891) | (29,455,748) | ||
| Net realized short-term gain (per share $.1152 in Fiscal Year 1997 and $.042 in Fiscal Year 1996) | (13,947,126) | (4,354,309) | ||
| Net realized long-term gain (per share $1.7514 in Fiscal Year 1997 and $.7987 in Fiscal Year 1996) | (212,039,549) | (82,805,333) | ||
| Total distributions to shareholders | (267,646,566) | (116,615,390) | ||
| From Fund share transactions: | ||||
| Proceeds from shares sold | 902,938,915 | 1,810,842,079 | ||
| Reinvestment of dividends and capital gains distributions | 256,259,031 | 110,976,647 | ||
| Payments for shares redeemed | (543,503,708) | (1,256,490,130) | ||
| Net increase in net assets from Fund share transactions | 615,694,238 | 665,328,596 | ||
| Total increase in net assets | 961,072,417 | 1,106,866,640 | ||
| Net assets: | ||||
| Beginning of period | 3,933,935,660 | 2,827,069,020 | ||
| End of period (including undistributed net investment income of $19,366,535 for 1997 and $35,496,292 for 1996) | $ 4,895,008,077 ============ |
$ 3,933,935,660 ============ |
||
See accompanying notes to financial statements.
THE OAKMARK
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|
Period Ended April 30, 1997 (Unaudited) |
|---|---|
| From Operations: | |
| Net investment income (loss) | $ (203,453) |
| Net realized gain on sale of investments | 5,633,992 |
| Net change in unrealized appreciation | (3,301,491) |
| Net increase in net assets from operations | 2,129,048 |
| From distributions to shareholders: | |
| Net investment income | 0 |
| Net realized short-term gain | 0 |
| Net realized long-term gain | _____0 |
| Total distributions to shareholders | 0 |
| From Fund share transactions: | |
| Proceeds from shares sold | 255,598,337 |
| Reinvestment of dividends and capital gains distributions | 0 |
| Payments for shares redeemed | (60,124,697) |
| Net increase in net assets from Fund share transactions | 195,473,640 |
| Total increase in net assets | 197,602,688 |
| Net assets: | |
| Beginning of period | _____0 |
| End of period (including undistributed net investment loss of $203,453) | $ 197,602,688 =========== |
See accompanying notes to financial statements.
THE OAKMARK
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Period Ended April 30, 1997 (Unaudited) |
Year Ended October 31, 1996 |
|
|---|---|---|---|
| From Operations: | |||
| Net investment loss | $ (609,088) | $ (276,200) | |
| Net realized gain (loss) on sale of investments | 18,511,480 | (243,291) | |
| Net realized gain (loss) on foreign currency transactions | 0 | 0 | |
| Net change in unrealized appreciation | 14,616,034 | 20,102,753 | |
| Net increase in net assets from operations | 32,518,426 | 19,583,262 | |
| From distributions to shareholders: | |||
| Net investment income | 0 | 0 | |
| Net realized short-term gain | 0 | 0 | |
| Net realized long-term gain | _____0 | _____0 | |
| Total distributions to shareholders | 0 | 0 | |
| From Fund share transactions: | |||
| Proceeds from shares sold | 568,723,911 | 224,762,208 | |
| Reinvestment of dividends and capital gains distributions | 0 | 0 | |
| Payments for shares redeemed, net of fees | (196,822,345) | (25,925,063) | |
| Net increase in net assets from Fund share transactions | 371,901,566 | 198,837,145 | |
| Total increase in net assets | 404,419,992 | 218,420,407 | |
| Net assets: | |||
| Beginning of period | 218,420,407 | _____0 | |
| End of period (including undistributed net investment loss of $885,287 for 1997 and $276,200 for 1996) | $ 622,840,399 =========== |
$ 218,420,407 =========== |
|
See accompanying notes to financial statements.
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THE OAKMARK
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Period Ended April 30, 1997 (Unaudited) |
Year Ended October 31, 1996 |
|
|---|---|---|---|
| From Operations: | |||
| Net investment income | $ 246,768 | $ 125,528 | |
| Net realized gain on sale of investments | 132,510 | 161,939 | |
| Net realized gain (loss) on foreign currency transactions | 0 | 0 | |
| Net change in unrealized appreciation | 1,012,987 | 903,718 | |
| Net increase in net assets from operations | 1,392,265 | 1,191,185 | |
| From distributions to shareholders: | |||
| Net investment income (per share $.1202 in Fiscal Year 1997) | (148,467) | 0 | |
| Net realized short-term gain (per share $.1311 in Fiscal Year 1997) | (162,188) | 0 | |
| Net realized long-term gain | _____0 | _____0 | |
| Total distributions to shareholders | (310,655) | 0 | |
| From Fund share transactions: | |||
| Proceeds from shares sold | 10,588,780 | 15,231,573 | |
| Reinvestment of dividends and capital gains distributions | 288,062 | 0 | |
| Payments for shares redeemed, net of fees | (5,593,093) | (2,623,832) | |
| Net increase in net assets from Fund share transactions | 5,283,749 | 12,607,741 | |
| Total increase in net assets | 6,365,359 | 13,798,926 | |
| Net assets: | |||
| Beginning of period | 13,798,926 | _____0 | |
| End of period (including undistributed net investment income of $233,829 for 1997 and $125,528 for 1996) | $ 20,164,285 =========== |
$ 13,798,926 =========== |
|
See accompanying notes to financial statements.
THE OAKMARK
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|
|
Period Ended April 30, 1997 (Unaudited) |
Year Ended October 31, 1996 |
|
|---|---|---|---|
| From Operations: | |||
| Net investment income | $ 12,884,880 | $ 14,823,124 | |
| Net realized gain on sale of investments | 86,831,881 | 2,806,950 | |
| Net realized gain (loss) on foreign currency transactions | 7,458,175 | (1,017,660) | |
| Net change in unrealized appreciation of investments | 60,028,246 | 176,382,416 | |
| Net change in unrealized appreciation of forward currency exchange contracts | 16,187,497 | 5,165,941 | |
| Net change in unrealized appreciation–other | 56,122 | (363,425) | |
| Net increase in net assets from operations | 183,446,801 | 197,797,346 | |
| From distributions to shareholders: | |||
| Net investment income (per share $1.1617 in Fiscal Year 1997) | (12,477,926) | 0 | |
| Net realized short-term gain (per share $.0000 in Fiscal Year 1997 and $.5020 in Fiscal Year 1996) | 0 | (29,886,815) | |
| Net realized long-term gain (per share $.0000 in Fiscal Year 1996 and $.5413 in Fiscal Year 1996) | _____0 | (32,229,556) | |
| Total distributions to shareholders | (12,477,926) | (62,116,371) | |
| From Fund share transactions: | |||
| Proceeds from shares sold | 325,777,624 | 563,952,538 | |
| Reinvestment of dividends and capital gains distributions | 11,889,126 | 57,852,161 | |
| Payments for shares redeemed | (192,919,566) | (404,450,022) | |
| Net increase in net assets from Fund share transactions | 144,747,184 | 217,354,677 | |
| Total increase in net assets | 315,716,059 | $ 353,035,652 | |
| Net assets: | |||
| Beginning of period | $ 1,172,767,194 | $ 819,731,542 | |
| End of period (including undistributed net investment income of $46,608,526 for 1997 and $46,201,571 for 1996) | $ 1,488,483,253 =========== |
$ 1,172,767,194 =========== |
|
See accompanying notes to financial statements.
THE OAKMARK
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|
|
Period Ended April 30, 1997 (Unaudited) |
Year Ended October 31, 1996 |
|
|---|---|---|---|
| From Operations: | |||
| Net investment income | $ 117,942 | $ 155,101 | |
| Net realized gain on sale of investments | 2,062,598 | 1,284,213 | |
| Net realized loss on foreign currency transactions | (44,245) | (24,656) | |
| Net change in unrealized appreciation of investments and foreign currencies | 595,930 | 296,393 | |
| Net change in unrealized appreciation of forward currency exchange contracts | 0 | 0 | |
| Net change in unrealized appreciation (depreciation) —other | (2,629) | (1,788) | |
| Net increase in net assets resulting from operations | 2,729,596 | 1,709,263 | |
| From distributions to shareholders: | |||
| Net investment income ($.08 in fiscal year ended 1997) | (279,216) | 0 | |
| Net realized short-term gain ($.36 in fiscal year ended 1997) | (1,285,114) | 0 | |
| Net realized long-term gain | _____0 | _____0 | |
| Total distributions to shareholders | (1,564,330) | 0 | |
| From Fund share transactions: | |||
| Proceeds from shares sold | 27,618,561 | 43,181,467 | |
| Reinvestment of dividends | 1,523,967 | 0 | |
| Payments for shares redeemed, net of fees | (13,499,777) | (5,138,689) | |
| Net increase in net assets from Fund share transactions | 15,642,751 | 38,042,778 | |
| Total increase in net assets | 16,808,017 | 39,752,041 | |
| Net assets: | |||
| Beginning of period | $ 39,752,041 ========== |
$ 0 ========= |
|
| End of period (Including undistributed net investment income (loss) of ($6,174) in 1997 and $155,101 in 1996) | $ 56,560,058 ========== |
$ 39,752,041 ========== |
|
See accompanying notes to financial statements.