THE OAKMARK FAMILY OF FUNDS

Statement of Operations—September 30, 2000

The Oakmark
Fund		 The Oakmark
Select
Fund		 The Oakmark
Small Cap
Fund
Investment Income:
Dividends $ 62,217,821 $ 24,190,270 $ 2,270,400
Interest Income 11,152,574 6,316,298 868,545
Other Income 189,274 8,202 109
Foreign taxes withheld (153,721) 0 0
Total investment income 73,405,948 30,514,770 3,139,054
Expenses:
Investment advisory fee 28,116,035 15,325,113 3,683,621
Transfer and dividend disbursing agent fees 2,144,292 959,533 282,517
Other shareholder servicing fees 1,407,173 1,058,557 144,292
Service Fee—Class II 0 10,765 0
Reports to shareholders 1,390,953 569,655 164,908
Custody and accounting fees 303,434 209,167 77,569
Registration and blue sky expenses 15,171 80,450 29,896
Trustee fees 117,583 67,881 36,760
Legal fees 37,929 25,327 10,729
Audit fees 24,116 23,005 22,105
Other 240,627 136,950 113,185
Total expenses 33,797,313 18,466,403 4,565,582
Expense reimbursement 0 0 (252,000)
Expense offset arrangements (9,433) (6,506) (832)
Net expenses 33,787,880 18,459,897 4,312,750
Net Investment Income (loss): 39,618,068 12,054,873 (1,173,696)
Net realized and unrealized gain (loss) on
investments and foreign currency transactions:
Net realized gain (loss) on investments (358,898,002) 161,052,611 25,233,378
Net realized gain (loss) on foreign currency transactions 0 0 0
Net change in unrealized appreciation (depreciation) of
investments and foreign currencies		 (135,635,885) 159,978,754 (12,748,906)
Net change in appreciation (depreciation) of forward currency exchange contracts 0 0 0
Net change in appreciation (depreciation)—other 0 0 0
Net realized and unrealized gain (loss) on
investments and foreign currency transactions:		 (494,533,887) 321,031,365 12,484,472
Net increase (decrease) in net assets resulting from
operations		 $ (454,915,819) $ 333,086,238 $ 11,310,776

 

The Oakmark
Equity and
Income Fund		 The Oakmark
Global
Fund		 The Oakmark
International
Fund		 The Oakmark
International
Small Cap Fund
Investment Income:
Dividends $ 1,149,410 $615,292 $ 25,208,892 $ 4,628,168
Interest Income 1,219,738 60,281 2,284,194 234,290
Other Income 911 0 0 0
Foreign taxes withheld (22,837) (56,319) (2,623,737) (579,417)
Total investment income 2,347,222 619,254 24,869,349 4,283,041
Expenses:
Investment advisory fee 410,864 267,710 7,849,938 1,451,394
Transfer and dividend disbursing agent fees 57,692 46,375 596,790 112,558
Other shareholder servicing fees 13,549 4,638 358,338 65,130
Service Fee—Class II 165 0 251 0
Reports to shareholders 28,049 44,681 305,840 59,570
Custody and accounting fees 50,428 51,259 868,495 201,396
Registration and blue sky expenses 40,366 41,928 53,092 32,622
Trustee fees 27,682 26,900 50,812 29,502
Legal fees 8,381 10,047 16,642 9,028
Audit fees 20,005 21,057 27,222 24,116
Other 24,440 14,772 80,226 32,150
Total expenses 681,621 529,367 10,207,646 2,017,466
Expense reimbursement 0 (55,500) 0 0
Expense offset arrangements (1,017) (1,355) (2,912) (3,039)
Net expenses 680,604 472,512 10,204,734 2,014,427
Net Investment Income (loss): 1,666,618 146,742 14,664,615 2,268,614
Net realized and unrealized gain (loss) on
investments and foreign currency transactions:
Net realized gain (loss) on investments 4,310,645 96,088 60,562,992 4,863,798
Net realized gain (loss) on foreign currency transactions (645) 132,840 10,609,055 991,046
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 3,084,969 4,122,450 13,902,115 (13,182,275)
Net change in appreciation (depreciation) of forward currency exchange contracts 0 81,181 2,556,178 281,817
Net change in appreciation (depreciation)—other 159 (1,568) (111,145) (28,709)
Net realized and unrealized gain (loss) on
investments and foreign currency transactions:		 7,395,128 4,430,991 87,519,195 (7,074,323)
Net increase (decrease) in net assets resulting from
operations		 $ 9,061,746 $ 4,577,733 $ 102,183,810 $ (4,805,709)

See accompanying notes to financial statements.