Statement of Assets and Liabilities—March 31, 2002
| The Oakmark Fund |
The Oakmark Select Fund |
The Oakmark Small Cap Fund |
|
| Assets | |||
| Investments in unaffiliated securities, at value | $4,088,623,974 (cost: 3,493,683,317) |
$4,612,899,717 (cost: 3,653,255,928) |
$471,021,494 (cost: 384,074,621) |
| Investments in affiliated securities, at value | 0 (cost: 0) |
446,811,284 (cost: 312,359,214) |
26,605,210 (cost: 26,691,280) |
| Cash | 4,174,847 | 1,459,678 | 9,975,892 |
| Foreign currency, at value | 0 | 0 | 0 |
| Receivable for: | |||
| Forward foreign currency contracts | 0 | 0 | 0 |
| Securities sold | 8,870,957 | 3,213,776 | 0 |
| Fund shares sold | 7,117,248 | 2,529,258 | 3,039,861 |
| Dividends and interest | 4,893,038 | 2,725,850 | 153,801 |
| Total receivables | 20,881,243 | 8,468,884 | 3,193,662 |
| Other Assets | 191,031 | 71,430 | 22,538 |
| Total assets | $4,113,871,095 | $5,069,710,993 | $510,818,796 |
| Liabilities and Net Assets | |||
| Options sold, at fair value | $0 | $0 | $290,000 |
| (premiums received: $0) |
(premiums received: $0) |
(premiums received: $305,768) |
|
| Payable for: | |||
| Securities purchased | 22,869,999 | 41,850,556 | 11,985,429 |
| Fund shares redeemed | 0 | 0 | 0 |
| Due to advisor | 285,963 | 340,066 | 32,252 |
| Forward foreign currency contracts | 0 | 0 | 0 |
| Other | 1,509,278 | 1,708,142 | 306,154 |
| Total liabilities | 24,665,240 | 43,898,764 | 12,613,835 |
| Net assets applicable to fund shares outstanding | $4,089,205,855 | $5,025,812,229 | $498,204,961 |
| Fund shares outstanding | 111,316,185 | 179,983,467 | 25,669,296 |
| Analysis of Net Assets | |||
| Paid in capital | $3,589,918,544 | $3,845,740,865 | $406,322,595 |
| Accumulated undistributed net realized gain (loss) of investments, forward contracts and foreign currency exchange transactions | (102,616,467) | 84,429,516 | 5,005,794 |
| Net unrealized appreciation (depreciation) of investments | 594,940,657 | 1,094,095,859 | 86,876,572 |
| Net unrealized appreciation (depreciation) of foreign currency portfolio hedges | 0 | 0 | 0 |
| Net unrealized appreciation (depreciation) — other | 0 | 0 | 0 |
| Accumulated undistributed net investment income (loss) | 6,963,121 | 1,545,989 | 0 |
| Net assets applicable to Fund shares outstanding | $4,089,205,855 | $5,025,812,229 | $498,204,961 |
| Price of Shares | |||
| Net asset value per share: Class I | $36.74 | $27.93 | $19.41 |
| Class I - Net assets | 4,088,670,383 | 4,942,461,276 | 498,204,961 |
| Class I - Shares outstanding | 111,301,596 | 176,988,787 | 25,669,296 |
| Net asset value per share: Class II | $36.71 | $27.83 | |
| Class II - Net assets | 535,471 | 83,350,953 | |
| Class II Shares outstanding | 14,588 | 2,994,680 | |
| The Oakmark Equity and Income Fund |
The Oakmark Global Fund |
The Oakmark International Fund |
The Oakmark International Small Cap Fund |
|
| Assets | ||||
| Investments in unaffiliated securities, at value | $1,800,894,666 (cost: 1,666,136,431) |
$146,760,775 (cost: 127,400,533) |
$1,153,338,253 (cost: 983,509,702) |
$321,773,591 (cost: 286,280,476) |
| Investments in affiliated securities, at value | 0 (cost: 0) |
0 (cost: 0) |
103,337,913 (cost: 187,207,183) |
9,681,660 (cost: 16,757,063) |
| Cash | 12,014,401 | 1,699,994 | 4,256,432 | 3,242,182 |
| Foreign currency, at value | 0 | 0 (cost: 0) |
813,223 (cost: 818,576) |
65,370 (cost: 65,441) |
| Receivable for: | ||||
| Forward foreign currency contracts | 0 | 0 | 0 | 0 |
| Securities sold | 310,790 | 0 | 3,568,818 | 56,903 |
| Fund shares sold | 9,794,547 | 1,347,864 | 2,552,659 | 2,537,278 |
| Dividends and interest | 8,842,800 | 291,009 | 8,153,958 | 636,561 |
| Total receivables | 18,948,137 | 1,638,873 | 14,275,435 | 3,230,742 |
| Other Assets | 10,185 | 11,531 | 28,910 | 3,185 |
| Total assets | $1,831,867,389 | $150,111,173 | $1,276,050,166 | $337,996,730 |
| Liabilities and Net Assets | ||||
| Options sold, at fair value | $631,800 | $493,300 | $0 | $0 |
| (premiums received: $683,457) |
(premiums received: $542,431) |
(premiums received: $0) |
(premiums received: $0) |
|
| Payable for: | ||||
| Securities purchased | 8,315,461 | 2,603,025 | 14,287,273 | 10,507,314 |
| Fund shares redeemed | 0 | 0 | 0 | 0 |
| Due to advisor | 89,614 | 8,679 | 754,334 | 25,097 |
| Forward foreign currency contracts | 0 | 0 | 0 | 0 |
| Other | 644,295 | 201,190 | 936,876 | 378,807 |
| Total liabilities | 9,681,170 | 3,306,194 | 15,978,483 | 10,911,218 |
| Net assets applicable to fund shares outstanding | $1,822,186,219 | $146,804,979 | $1,260,071,683 | $327,085,512 |
| Fund shares outstanding | 93,859,703 | 9,985,158 | 78,005,179 | 25,625,241 |
| Analysis of Net Assets | ||||
| Paid in capital | $1,692,006,869 | $124,484,512 | $1,179,879,287 | $295,723,989 |
| Accumulated undistributed net realized gain (loss) of investments, forward contracts and foreign currency exchange transactions | (11,433,761) | 2,911,479 | (9,971,437) | 2,945,471 |
| Net unrealized appreciation (depreciation) of investments | 134,809,891 | 19,409,373 | 85,953,929 | 28,417,642 |
| Net unrealized appreciation (depreciation) of foreign currency portfolio hedges | 0 | 0 | 0 | 0 |
| Net unrealized appreciation (depreciation) — other | (237) | (385) | (10,442) | (1,590) |
| Accumulated undistributed net investment income (loss) | 6,803,457 | 0 | 4,220,346 | 0 |
| Net assets applicable to Fund shares outstanding | $1,822,186,219 | $146,804,979 | $1,260,071,683 | $327,085,512 |
| Price of Shares | ||||
| Net asset value per share: Class I | $19.41 | $14.70 | $16.15 | $12.76 |
| Class I - Net assets | 1,769,886,768 | 146,114,965 | 1,229,329,767 | 326,849,563 |
| Class I - Shares outstanding | 91,163,512 | 9,938,137 | 76,100,024 | 25,606,739 |
| Net asset value per share: Class II | $19.40 | $14.67 | $16.14 | $12.75 |
| Class II - Net assets | 52,299,451 | 690,014 | 30,744,585 | 235,950 |
| Class II Shares outstanding | 2,696,192 | 47,021 | 1,905,155 | 18,502 |
See accompanying notes to financial statements.