Statements of Changes in Net Assets
The Oakmark Fund | ||
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Year Ended |
Year Ended September 30, 2006 | |
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| From Operations: | ||
| Net investment income | $59,659,681 | $53,784,303 |
| Net realized gain (loss) on investments | 420,551,189 | 270,986,174 |
| Net realized gain (loss) on foreign currency transactions | (15,670) | (6,771) |
| Net change in unrealized appreciation (depreciation) of investments | 156,908,305 | 238,673,740 |
| Net change in unrealized appreciation (depreciation)—other | 22,000 | 1,909 |
| Net increase in net assets from operations | 637,125,505 | 563,439,355 |
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| Distributions to shareholders from: | ||
| Net investment income—Class I | (53,539,601) | (51,650,726) |
| Net investment income—Class II | (208,772) | (231,758) |
| Net realized gain—Class I | (247,108,056) | 0 |
| Net realized gain—Class II | (1,637,719) | 0 |
| Total distributions to shareholders | (302,494,148) | (51,882,484) |
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| From Fund share transactions: | ||
| Proceeds from shares sold—Class I | 861,518,944 | 779,885,052 |
| Proceeds from shares sold—Class II | 9,068,112 | 6,336,611 |
| Reinvestment of distributions—Class I | 284,353,008 | 48,533,582 |
| Reinvestment of distributions—Class II | 1,632,253 | 201,619 |
| Payments for shares redeemed—Class I | (1,307,641,112) | (2,190,991,773) |
| Payments for shares redeemed—Class II | (21,478,972) | (16,267,132) |
| Redemption fees—Class I | 247,506 | 324,889 |
| Redemption fees—Class II | 1,510 | 680 |
| Net increase (decrease) in net assets from Fund share transactions | (172,298,751) | (1,371,976,472) |
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| Total increase (decrease) in net assets | 162,332,606 | (860,419,601) |
| Net assets: | ||
| Beginning of period | 5,523,658,923 | 6,384,078,524 |
| End of period | $5,685,991,529 | $5,523,658,923 |
| Undistributed net investment income | $56,183,788 | $52,702,440 |
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| Fund Share Transactions—Class I: | ||
| Shares sold | 18,391,432 | 18,756,564 |
| Shares issued in reinvestment of dividends | 6,185,622 | 1,171,177 |
| Less shares redeemed | (27,830,195) | (52,610,324) |
| Net increase (decrease) in shares outstanding | (3,253,141) | (32,682,583) |
| Fund Share Transactions—Class II: | ||
| Shares sold | 194,191 | 152,248 |
| Shares issued in reinvestment of dividends | 35,647 | 4,883 |
| Less shares redeemed | (456,470) | (390,394) |
| Net increase (decrease) in shares outstanding | (226,632) | (233,263) |
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The Oakmark Select Fund | ||
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Year Ended September 30, 2007 |
Year Ended September 30, 2006 | |
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| From Operations: | ||
| Net investment income | $66,533,144 | $65,028,737 |
| Net realized gain (loss) on investments | 507,407,977 | 579,399,446 |
| Net change in unrealized appreciation (depreciation) of investments | (160,141,522) | (92,754,575) |
| Net increase in net assets from operations | 413,799,599 | 551,673,608 |
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| Distributions to shareholders from: | ||
| Net investment income—Class I | (64,072,754) | (51,471,735) |
| Net investment income—Class II | (433,784) | (488,531) |
| Net realized gain—Class I | (576,351,927) | (313,884,121) |
| Net realized gain—Class II | (6,348,277) | (4,367,840) |
| Total distributions to shareholders | (647,206,742) | (370,212,227) |
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| From Fund share transactions: | ||
| Proceeds from shares sold—Class I | 774,598,160 | 971,797,581 |
| Proceeds from shares sold—Class II | 15,646,313 | 17,443,658 |
| Reinvestment of distributions—Class I | 618,361,472 | 352,444,215 |
| Reinvestment of distributions—Class II | 3,215,331 | 2,386,123 |
| Payments for shares redeemed—Class I | (1,541,125,659) | (1,635,155,035) |
| Payments for shares redeemed—Class II | (48,592,972) | (39,109,368) |
| Redemption fees—Class I | 223,491 | 251,026 |
| Redemption fees—Class II | 2,154 | 1,251 |
| Net increase (decrease) in net assets from Fund share transactions | (177,671,710) | (329,940,549) |
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| Total decrease in net assets | (411,078,853) | (148,479,168) |
| Net assets: | ||
| Beginning of period | 5,844,694,286 | 5,993,173,454 |
| End of period | $5,433,615,433 | $5,844,694,286 |
| Undistributed net investment income | $39,662,331 | $38,093,652 |
| Fund Share Transactions—Class I: | ||
| Shares sold | 22,573,030 | 29,030,193 |
| Shares issued in reinvestment of dividends | 18,359,901 | 10,628,595 |
| Less shares redeemed | (45,169,924) | (48,799,020) |
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| Net increase (decrease) in shares outstanding | (4,236,993) | (9,140,232) |
| Fund Share Transactions—Class II: | ||
| Shares sold | 459,298 | 523,360 |
| Shares issued in reinvestment of dividends | 95,865 | 72,263 |
| Less shares redeemed | (1,441,127) | (1,169,938) |
| Net increase (decrease) in shares outstanding | (885,964) | (574,315) |
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See accompanying Notes to Financial Statements.
The Oakmark Equity and Income Fund |
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Year Ended September 30, 2007 |
Year Ended September 30, 2006 | |
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| From Operations: | ||
| Net investment income | $262,368,113 | $193,197,493 |
| Net realized gain (loss) on investments | 755,956,267 | 545,472,604 |
| Net realized gain (loss) on foreign currency transactions | (1,022,336) | 953,110 |
| Net change in unrealized appreciation (depreciation) of investments | 777,795,316 | (77,004,918) |
| Net change in unrealized appreciation (depreciation)—other | (164,029) | 254,072 |
| Net increase in net assets from operations | 1,794,933,331 | 662,872,361 |
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| Distributions to shareholders from: | ||
| Net investment income—Class I | (197,295,609) | (127,230,307) |
| Net investment income—Class II | (11,590,883) | (6,660,455) |
| Net realized gain—Class I | (514,829,367) | (76,265,144) |
| Net realized gain—Class II | (36,037,949) | (4,944,566) |
| Total distributions to shareholders | (759,753,808) | (215,100,472) |
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| From Fund share transactions: | ||
| Proceeds from shares sold—Class I | 2,268,150,133 | 2,056,526,635 |
| Proceeds from shares sold—Class II | 303,169,618 | 311,212,011 |
| Reinvestment of distributions—Class I | 676,419,126 | 193,933,598 |
| Reinvestment of distributions—Class II | 38,550,451 | 7,917,854 |
| Payments for shares redeemed—Class I | (1,835,852,952) | (1,479,474,288) |
| Payments for shares redeemed—Class II | (213,986,804) | (210,686,071) |
| Redemption fees—Class I | 396,816 | 190,842 |
| Redemption fees—Class II | 28,756 | 4,611 |
| Net increase (decrease) in net assets from Fund share transactions | 1,236,875,144 | 879,625,192 |
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| Total increase in net assets | 2,272,054,667 | 1,327,397,081 |
| Net assets: | ||
| Beginning of period | 11,132,616,904 | 9,805,219,823 |
| End of period | $13,404,671,571 | $11,132,616,904 |
| Undistributed net investment income | $247,021,572 | $163,377,760 |
| Fund Share Transactions—Class I: | ||
| Shares sold | 84,094,622 | 80,485,715 |
| Shares issued in reinvestment of dividends | 26,036,152 | 7,695,778 |
| Less shares redeemed | (67,666,574) | (57,994,019) |
| Net increase (decrease) in shares outstanding | 42,464,200 | 30,187,474 |
| Fund Share Transactions—Class II: | ||
| Shares sold | 11,303,525 | 12,229,061 |
| Shares issued in reinvestment of dividends | 1,489,010 | 315,076 |
| Less shares redeemed | (7,935,650) | (8,300,682) |
| Net increase (decrease) in shares outstanding | 4,856,885 | 4,243,455 |
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The Oakmark Global Fund | ||
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Year Ended September 30, 2007 |
Year Ended September 30, 2006 | |
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| From Operations: | ||
| Net investment income | $18,208,414 | $24,869,019 |
| Net realized gain (loss) on investments | 324,857,952 | 310,301,304 |
| Net realized gain (loss) on foreign currency transactions | (3,749,056) | 6,838,930 |
| Net change in unrealized appreciation (depreciation) of investments and foreign currencies | 180,426,535 | 2,947,332 |
| Net change in unrealized appreciation (depreciation)—other | 106,323 | 163,945 |
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| Net increase in net assets from operations | 519,850,168 | 345,120,530 |
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| Distributions to shareholders from: | ||
| Net investment income—Class I | (27,704,385) | (20,913,767) |
| Net investment income—Class II | (645,340) | (581,696) |
| Net realized gain—Class I | (312,319,850) | (76,617,645) |
| Net realized gain—Class II | (10,681,345) | (2,579,429) |
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| Total distributions to shareholders | (351,350,920) | (100,692,537) |
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| From Fund share transactions: | ||
| Proceeds from shares sold—Class I | 609,489,866 | 439,182,726 |
| Proceeds from shares sold—Class II | 17,269,919 | 17,019,479 |
| Reinvestment of distributions—Class I | 326,216,720 | 92,918,085 |
| Reinvestment of distributions—Class II | 10,756,868 | 2,954,863 |
| Payments for shares redeemed—Class I | (375,481,639) | (329,606,864) |
| Payments for shares redeemed—Class II | (19,691,332) | (9,199,239) |
| Redemption fees—Class I | 161,035 | 104,623 |
| Redemption fees—Class II | 5,156 | 2,156 |
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| Net increase (decrease) in net assets from Fund share transactions | 568,726,593 | 213,375,829 |
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| Total increase in net assets | 737,225,841 | 457,803,822 |
| Net assets: | ||
| Beginning of period | 2,359,308,892 | 1,901,505,070 |
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| End of period | $3,096,534,733 | $2,359,308,892 |
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| Undistributed net investment income | $8,856,800 | $22,747,166 |
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| Fund Share Transactions—Class I: | ||
| Shares sold | 22,540,232 | 17,806,211 |
| Shares issued in reinvestment of dividends | 12,934,841 | 3,942,219 |
| Less shares redeemed | (13,937,033) | (13,308,581) |
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| Net increase (decrease) in shares outstanding | 21,538,040 | 8,439,849 |
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| Fund Share Transactions—Class II: | ||
| Shares sold | 643,786 | 699,957 |
| Shares issued in reinvestment of dividends | 432,350 | 126,818 |
| Less shares redeemed | (737,986) | (375,302) |
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| Net increase (decrease) in shares outstanding | 338,150 | 451,473 |
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See accompanying Notes to Financial Statements.
The Oakmark Global Select Fund |
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For the Period from October 2, 2006 (a) to September 30, 2007 |
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| From Operations: | |
| Net investment income | $2,383,876 |
| Net realized gain (loss) on investments | 7,145,836 |
| Net realized gain (loss) on foreign currency transactions | (448,111) |
| Net change in unrealized appreciation (depreciation) of investments and foreign currencies | 7,871,633 |
| Net change in unrealized appreciation (depreciation)—other | 45,644 |
| Net increase in net assets from operations | 16,998,878 |
| Distributions to shareholders from: | |
| Net investment income—Class I | (114,308) |
| Total distributions to shareholders | (114,308) |
| From Fund share transactions: | |
| Proceeds from shares sold—Class I | 417,863,246 |
| Reinvestment of distributions—Class I | 113,161 |
| Payments for shares redeemed—Class I | (57,339,417) |
| Redemption fees—Class I | 166,601 |
| Net increase (decrease) in net assets from Fund share transactions | 360,803,591 |
| Total increase in net assets | 377,688,161 |
| Net assets: | |
| End of period | $377,688,161 |
| Undistributed net investment income | $1,821,456 |
| Fund Share Transactions—Class I: | |
| Shares sold | 37,547,411 |
| Shares issued in reinvestment of dividends | 10,576 |
| Less shares redeemed | (5,014,033) |
| Net increase (decrease) in shares outstanding | 32,543,954 |
| (a) | From October 2, 2006, the date on which Fund shares were first offered for sale to the public. |
The Oakmark International Fund | ||
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Year Ended September 30, 2007 |
Year Ended September 30, 2006 | |
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| From Operations: | ||
| Net investment income | $146,096,746 | $121,327,693 |
| Net realized gain (loss) on investments | 1,426,186,914 | 1,022,230,924 |
| Net realized gain (loss) on foreign currency transactions | (27,388,159) | 85,933,770 |
| Net change in unrealized appreciation (depreciation) of investments and foreign currencies | (406,414,072) | 131,694,166 |
| Net change in unrealized appreciation (depreciation)—other | 1,025,662 | 294,298 |
| Net increase in net assets from operations | 1,139,507,091 | 1,361,480,851 |
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| Distributions to shareholders from: | ||
| Net investment income—Class I | (122,435,261) | (144,087,090) |
| Net investment income—Class II | (6,951,720) | (8,528,390) |
| Net realized gain—Class I | (961,546,440) | (241,359,448) |
| Net realized gain—Class II | (69,459,593) | (15,880,415) |
| Total distributions to shareholders | (1,160,393,014) | (409,855,343) |
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| From Fund share transactions: | ||
| Proceeds from shares sold—Class I | 1,677,032,856 | 1,307,428,773 |
| Proceeds from shares sold—Class II | 382,659,739 | 271,362,458 |
| Reinvestment of distributions—Class I | 957,801,465 | 348,431,594 |
| Reinvestment of distributions—Class II | 53,952,152 | 16,204,525 |
| Payments for shares redeemed—Class I | (1,369,590,984) | (975,665,459) |
| Payments for shares redeemed—Class II | (344,460,679) | (213,303,958) |
| Redemption fees—Class I | 397,544 | 198,369 |
| Redemption fees—Class II | 29,502 | 9,557 |
| Net increase (decrease) in net assets from Fund share transactions | 1,357,821,595 | 754,665,859 |
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| Total increase in net assets: | 1,336,935,672 | 1,706,291,367 |
| Net assets: | ||
| Beginning of period | 7,696,540,881 | 5,990,249,514 |
| End of period | $9,033,476,553 | $7,696,540,881 |
| Undistributed net investment income | $104,342,170 | $113,836,202 |
| Fund Share Transactions—Class I: | ||
| Shares sold | 62,804,278 | 53,137,278 |
| Shares issued in reinvestment of dividends | 38,038,184 | 15,492,735 |
| Less shares redeemed | (51,521,932) | (39,575,515) |
| Net increase (decrease) in shares outstanding | 49,320,530 | 29,054,498 |
| Fund Share Transactions—Class II: | ||
| Shares sold | 14,470,106 | 11,066,476 |
| Shares issued in reinvestment of dividends | 2,157,223 | 724,062 |
| Less shares redeemed | (12,976,190) | (8,682,291) |
| Net increase (decrease) in shares outstanding | 3,651,139 | 3,108,247 |
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See accompanying Notes to Financial Statements.
The Oakmark International Small Cap Fund |
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Year Ended September 30, 2007 |
Year Ended September 30, 2006 | |
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| From Operations: | ||
| Net investment income | $16,938,125 | $19,607,669 |
| Net realized gain (loss) on investments | 335,034,721 | 177,109,165 |
| Net realized gain (loss) on foreign currency transactions | (3,567,638) | 14,662,887 |
| Net change in unrealized appreciation (depreciation) of investments and foreign currencies | (175,792,106) | 71,230,284 |
| Net change in unrealized appreciation (depreciation)—other | 97,505 | 43,207 |
| Net increase in net assets from operations | 172,710,607 | 282,653,212 |
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| Distributions to shareholders from: | ||
| Net investment income—Class I | (29,840,093) | (31,166,621) |
| Net investment income—Class II | (20,129) | (18,114) |
| Net realized gain—Class I | (181,349,841) | (156,716,232) |
| Net realized gain—Class II | (126,536) | (93,410) |
| Total distributions to shareholders | (211,336,599) | (187,994,377) |
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| From Fund share transactions: | ||
| Proceeds from shares sold—Class I | 239,079,369 | 201,993,652 |
| Proceeds from shares sold—Class II | 334,644 | 144,934 |
| Reinvestment of distributions—Class I | 201,840,075 | 176,611,867 |
| Reinvestment of distributions—Class II | 74,623 | 64,080 |
| Payments for shares redeemed—Class I | (350,389,665) | (205,919,657) |
| Payments for shares redeemed—Class II | (200,687) | (101,375) |
| Redemption fees—Class I | 43,370 | 48,587 |
| Redemption fees—Class II | 32 | 19 |
| Net increase (decrease) in net assets from Fund share transactions | 90,781,761 | 172,842,107 |
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| Total increase in net assets | 52,155,769 | 267,500,942 |
| Net assets: | ||
| Beginning of period | 1,275,312,379 | 1,007,811,437 |
| End of period | $1,327,468,148 | $1,275,312,379 |
| Undistributed net investment income | $2,424,644 | $10,816,240 |
| Fund Share Transactions—Class I: | ||
| Shares sold | 10,010,170 | 9,211,608 |
| Shares issued in reinvestment of dividends | 8,962,703 | 8,974,181 |
| Less shares redeemed | (14,693,607) | (9,457,429) |
| Net increase (decrease) in shares outstanding | 4,279,266 | 8,728,360 |
| Fund Share Transactions—Class II: | ||
| Shares sold | 14,067 | 6,780 |
| Shares issued in reinvestment of dividends | 3,318 | 3,259 |
| Less shares redeemed | (8,271) | (4,539) |
| Net increase (decrease) in shares outstanding | 9,114 | 5,500 |
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See accompanying Notes to Financial Statements.