THE OAKMARK FUNDS

Statements of Operations—March 31, 2007 (Unaudited)

 
The Oakmark
Fund
The Oakmark
Select
Fund
Investment Income:    
Dividends from unaffiliated securities $53,163,873 $61,256,192
Dividends from affiliated securities 0 696,225
Interest income 8,844,634 7,089,657
Securities lending income 0 0
Other income 38,370 65,073
Foreign taxes withheld 0 0
 
Total investment income 62,046,877 69,107,147
Expenses:    
Investment advisory fee 25,773,205 25,763,742
Transfer and dividend disbursing agent fees 942,792 610,988
Other shareholder servicing fees 2,154,603 2,222,868
Service Fee—Class II 48,091 82,274
Reports to shareholders 412,083 392,976
Custody and accounting fees 342,120 311,411
Registration and blue sky expenses 0 0
Trustee fees 209,498 198,123
Legal fees 52,866 53,961
Audit fees 25,503 26,395
Amortization of organization expenses 0 0
Insurance 0 0
Other 65,775 146,258
 
Total expenses 30,026,536 29,808,996
Expense offset arrangements 0 (193)
 
Net expenses 30,026,536 29,808,803
Net Investment Income: 32,020,341 39,298,344
Net realized and unrealized gain (loss) on investments and foreign currency transactions:    
Net realized gain (loss) on unaffiliated securities 177,682,062 176,233,426
Net realized gain (loss) on affiliated securities 0 41,804,669
Net realized gain (loss) on options 274,481 0
Net realized gain (loss) on foreign currency transactions 0 0
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 238,352,769 99,699,298
Net change in unrealized appreciation (depreciation)—other 6,021 0
Net realized and unrealized gain on investments and foreign currency transactions 416,315,333 317,737,393
 
Net increase in net assets resulting from operations $448,335,674 $357,035,737
 
(a)   From October 2, 2006, the date on which Fund shares were first offered for sale to the public.

 
The Oakmark
Equity and
Income Fund
The Oakmark
Global
Fund
The Oakmark
Global Select
Fund(a)
The Oakmark
International
Fund
The Oakmark
International
Small Cap Fund
Investment Income:          
Dividends from unaffiliated securities $69,047,195 $18,359,912 $1,191,027 $74,986,747 $9,386,274
Dividends from affiliated securities 315,085 0 0 3,018,791 5,088,995
Interest income 109,813,041 1,202,216 271,472 8,292,499 2,036,918
Securities lending income 513,691 44,316 0 195,540 0
Other income 88,930 0 0 21,819 0
Foreign taxes withheld (292,500) (721,325) (3,616) (3,875,283) (474,669)
 
Total investment income 179,485,442 18,885,119 1,458,883 82,640,113 16,037,518
Expenses:          
Investment advisory fee 41,325,239 12,806,512 516,718 37,214,016 7,919,670
Transfer and dividend disbursing agent fees 687,450 282,322 26,705 496,449 78,761
Other shareholder servicing fees 5,510,760 753,674 52,867 3,061,868 311,979
Service Fee—Class II 955,017 106,817 0 722,886 440
Reports to shareholders 621,734 167,184 9,712 414,995 58,239
Custody and accounting fees 760,756 657,738 68,164 3,008,053 566,940
Registration and blue sky expenses 126,538 50,550 31,404 110,368 19,118
Trustee fees 243,555 117,950 48,227 201,982 104,629
Legal fees 78,897 40,285 20,467 66,908 33,610
Audit fees 38,869 19,080 18,013 31,922 16,464
Amortization of organization expenses 0 0 16,983 0 0
Insurance 0 0 0 0 0
Other 258,220 119,642 65,715 208,609 97,920
 
Total expenses 50,607,035 15,121,754 874,975 45,538,056 9,207,770
Expense offset arrangements 0 0 0 0 0
 
Net expenses 50,607,035 15,121,754 874,975 45,538,056 9,207,770
Net Investment Income: 
 128,878,407 3,763,365 583,908 37,102,057 6,829,748
Net realized and unrealized gain (loss) on investments and foreign currency transactions:
          
Net realized gain (loss) on unaffiliated securities 61,647,035 141,783,666 2,283,837 673,007,901 140,997,405
Net realized gain (loss) on affiliated securities (1,874,809) 0 0 3,783,693 932,552
Net realized gain (loss) on options 0 0 0 0 0
Net realized gain (loss) on foreign currency transactions (806,269) (249,551) (34,751) (1,355,403) (287,990)
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 697,229,950 208,782,545 9,302,744 470,363,833 83,602,885
Net change in unrealized appreciation (depreciation)—other (413,175) (58,614) 4,083 369,888 13,731
Net realized and unrealized gain on investments and foreign currency transactions 755,782,732 350,258,046 11,555,913 1,146,169,912 225,258,583
 
Net increase in net assets resulting from operations
$884,661,139
$354,021,411
 $12,139,821
$1,183,271,969
$232,088,331
 

See accompanying Notes to Financial Statements.