THE OAKMARK FAMILY OF FUNDS

Statement of Operations—March 31, 2001

The Oakmark
Fund		 The Oakmark
Select
Fund		 The Oakmark
Small Cap
Fund
Investment Income:
Dividends $16,798,660 $10,973,290 $763,911
Interest Income 5,817,029 5,981,985 410,080
Other Income 405,714 250 0
Foreign taxes withheld 0 0 0
Total investment income 23,021,403 16,955,525 1,173,991
Expenses:
Investment advisory fee 11,101,319 10,314,809 1,128,445
Transfer and dividend disbursing agent fees 942,655 556,789 138,369
Other shareholder servicing fees 368,380 763,187 51,170
Service Fee—Class II 0 12,017 0
Reports to shareholders 359,500 260,202 50,100
Custody and accounting fees 134,392 138,144 33,704
Registration and blue sky expenses 61,470 259,840 14,957
Trustee fees 92,063 63,886 29,805
Legal fees 18,228 17,681 6,569
Audit fees 12,210 10,177 10,176
Other 115,000 116,204 16,940
Total expenses 13,205,217 12,512,936 1,480,235
Expense reimbursement 0
Expense offset arrangements (7,114) (7,609) (1,072)
Net expenses 13,198,103 12,505,327 1,479,163
Net Investment Income (loss): 9,823,300 4,450,198 (305,172)
Net realized and unrealized gain (loss) on investments and foreign currency transactions:
Net realized gain (loss) on investments 47,001,766 (62,842,619) 9,261,621
Net realized gain (loss) on foreign currency transactions 0 0 0
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 355,524,610 446,744,173 (15,410,934)
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: 402,526,376 383,901,554 (6,149,313)
Net increase (decrease) in net assets resulting from operations $412,349,676 $388,351,752 $(6,454,485)

 

The Oakmark
Equity and
Income Fund		 The Oakmark
Global
Fund		 The Oakmark
International
Fund		 The Oakmark
International
Small Cap Fund
Investment Income:
Dividends $645,087 $314,880 $10,647,143 $1,314,597
Interest Income 1,141,069 69,145 980,406 110,895
Other Income 1,544 0 0 0
Foreign taxes withheld 22,297 (37,810) (1,323,139) (205,364)
Total investment income 1,809,997 346,215 10,304,410 1,220,128
Expenses:
Investment advisory fee 288,377 148,597 4,001,164 554,521
Transfer and dividend disbursing agent fees 34,133 23,306 273,918 58,841
Other shareholder servicing fees 16,811 2,506 205,502 18,453
Service Fee—Class II 751 0 169 18
Reports to shareholders 10,010 9,100 160,405 18,200
Custody and accounting fees 35,674 32,146 436,543 91,970
Registration and blue sky expenses 32,720 30,411 29,695 15,191
Trustee fees 23,505 22,665 43,407 24,479
Legal fees 5,144 4,904 10,073 5,154
Audit fees 10,177 12,271 13,253 12,210
Other 9,572 4,193 44,344 9,840
Total expenses 466,874 290,099 5,218,473 808,877
Expense reimbursement (34,960) (20,200)
Expense offset arrangements (43) (238) (1,791) (689)
Net expenses 431,871 269,661 5,216,682 808,188
Net Investment Income (loss): 1,378,126 76,554 5,087,728 411,940
Net realized and unrealized gain (loss) on investments and foreign currency transactions:
Net realized gain (loss) on investments 2,086,298 674,807 7,912,605 1,268,875
Net realized gain (loss) on foreign currency transactions (518) 85,631 2,746,119 671,822
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 2,168,174 (161,412) (33,800,440) (552,884)
Net change in appreciation (depreciation) of forward currency exchange contracts 0 (76,462) (2,048,003) (289,441)
Net change in appreciation (depreciation)—other 0 (100) 45,753 8,866
Net realized and unrealized gain (loss) on investments and foreign currency transactions: 4,253,954 522,464 (25,143,966) 1,107,238
Net increase (decrease) in net assets resulting from operations $5,632,080 $599,018 $(20,056,238) $1,519,178

See accompanying notes to financial statements.