THE OAKMARK FAMILY OF FUNDS

Statement of Operations—September 30, 2001

The Oakmark
Fund		 The Oakmark
Select
Fund		 The Oakmark
Small Cap
Fund
Investment Income:
Dividends $39,013,317 $29,342,773 $1,541,906
Interest Income 10,547,765 12,868,682 936,378
Other Income 480,819 250 0
Foreign taxes (withheld) rebated 0 0 0
Total investment income 50,041,901 42,211,705 2,478,284
Expenses:
Investment advisory fee 25,662,135 27,774,016 2,490,470
Transfer and dividend disbursing agent fees 1,672,623 1,102,906 195,952
Other shareholder servicing fees 1,345,487 2,676,981 149,645
Service Fee—Class II 68 47,698 0
Reports to shareholders 961,814 812,175 115,271
Custody and accounting fees 320,261 384,591 73,162
Registration and blue sky expenses 253,289 774,324 38,971
Trustee fees 219,167 196,659 74,580
Legal fees 38,604 43,590 12,807
Audit fees 23,691 22,452 18,452
Other 150,144 168,330 21,003
Total expenses 30,647,283 34,003,722 3,190,313
Expense reimbursement 0 0 0
Expense offset arrangements (21,424) (16,667) (1,392)
Net expenses 30,625,859 33,987,055 3,188,921
Net Investment Income (loss): 19,416,042 8,224,650 (710,637)
Net realized and unrealized gain (loss) on investments and foreign currency transactions:
Net realized gain (loss) on investments 195,984,944 (46,951,440) 1,334,090
Net realized gain (loss) on foreign currency transactions 0 0 0
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 126,130,060 564,071,103 (10,475,705)
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: 322,115,004 517,119,663 (9,141,615)
Net increase (decrease) in net assets resulting from operations $341,531,046 $525,344,313 $(9,852,252)

 

The Oakmark
Equity and
Income Fund		 The Oakmark
Global
Fund		 The Oakmark
International
Fund		 The Oakmark
International
Small Cap Fund
Investment Income:
Dividends $2,595,485 $641,990 $22,873,826 $3,756,393
Interest Income 4,833,457 119,411 1,621,223 214,576
Other Income 1,544 187 841 98,660
Foreign taxes (withheld) rebated 22,297 (70,706) (2,299,513) (473,009)
Total investment income 7,452,783 690,882 22,196,377 3,596,620
Expenses:
Investment advisory fee 1,591,905 387,377 8,269,717 1,238,024
Transfer and dividend disbursing agent fees 97,008 42,032 409,713 69,273
Other shareholder servicing fees 207,337 17,818 491,219 56,049
Service Fee—Class II 3,503 0 1,258 64
Reports to shareholders 55,727 24,858 338,781 45,069
Custody and accounting fees 89,154 81,658 922,824 197,605
Registration and blue sky expenses 241,639 59,642 54,706 35,792
Trustee fees 66,126 59,840 104,854 62,968
Legal fees 11,396 9,899 19,739 10,636
Audit fees 18,452 23,751 22,685 25,841
Other 15,110 5,494 54,115 12,025
Total expenses 2,397,357 712,369 10,689,611 1,753,346
Expense reimbursement 0 (20,815) 0 0
Expense offset arrangements (448) (617) (2,145) (944)
Net expenses 2,396,909 690,937 10,687,466 1,752,402
Net Investment Income (loss): 5,055,874 (55) 11,508,911 1,844,218
Net realized and unrealized gain (loss) on investments and foreign currency transactions:
Net realized gain (loss) on investments 1,909,621 1,479,943 (13,334,222) 1,136,757
Net realized gain (loss) on foreign currency transactions (518) 71,444 2,323,657 591,541
Net change in unrealized appreciation (depreciation) of investments and foreign currencies (5,101,055) (4,901,265) (118,037,625) (12,360,111)
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 1,700 169,583 28,453
Net realized and unrealized gain (loss) on investments and foreign currency transactions: (3,191,952) (3,424,640) (130,926,610) (10,892,801)
Net increase (decrease) in net assets resulting from operations $1,863,922 $(3,424,695) $(119,417,699) $(9,048,583)

See accompanying notes to financial statements.