Annual Report
September 30, 2002

Letters & Summary Information

Commentary

Oakmark Fund

Oakmark Select Fund

Oakmark Small Cap Fund

Oakmark Equity and Income

Oakmark Global Fund

Commentary

Oakmark International Fund

Oakmark International Small Cap Fund

Statement of Assets and Liabilities

Statement of Operations

Statement of Changes in Net Assets

Notes to Financial Statements

Financial Highlights

Report of Independent Public Accountants

Footnotes

Trustees and Officers

Oakmark Philosophy and Process

The Oakmark Glossary