THE OAKMARK FUNDS

Statements of Operations—September 30, 2007

 
The Oakmark
Fund
The Oakmark
Select
Fund
Investment Income:    
Dividends from unaffiliated securities $101,642,121 $108,752,255
Dividends from affiliated securities 0 1,676,175
Interest income 16,254,615 13,991,636
Securities lending income 0 0
Other income 2,448,632 628,756
Foreign taxes withheld (272,937) 0
 
Total investment income 120,072,431 125,048,822
Expenses:    
Investment advisory fee 51,887,047 50,982,717
Transfer and dividend disbursing agent fees 1,799,023 1,168,523
Other shareholder servicing fees 4,217,214 3,948,162
Service Fee—Class II 89,124 137,797
Reports to shareholders 1,026,949 870,017
Custody and accounting fees 702,798 625,378
Registration and blue sky expenses 0 39,102
Trustee fees 313,830 297,797
Legal fees 86,689 87,241
Audit fees 29,951 33,111
Amortization of organization expenses 0 0
Other 260,125 325,833
 
Total expenses 60,412,750 58,515,678
Expense offset arrangements 0 0
 
Net expenses 60,412,750 58,515,678
Net Investment Income 59,659,681 66,533,144
Net realized and unrealized gain (loss) on investments and foreign currency transactions:    
Net realized gain on unaffiliated securities 420,276,708 360,877,909
Net realized gain on affiliated securities 0 146,530,068
Net realized gain on options 274,481 0
Net realized loss on foreign currency transactions (15,670) 0
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 156,908,305 (160,141,522)
Net change in unrealized appreciation (depreciation)—other 22,000 0
Net realized and unrealized gain on investments and foreign currency transactions 577,465,824 347,266,455
 
Net increase in net assets resulting from operations $637,125,505 $413,799,599
 

(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 $131,546,987 $51,047,481 $4,692,010 $221,932,682 $25,793,694
Dividends from affiliated securities 695,256 0 0 19,862,228 9,126,430
Interest income 237,415,410 2,429,724 927,364 16,381,902 2,891,684
Securities lending income 715,568 573,085 0 2,841,312 216,104
Other income 209,314 16,158 0 24,693 0
Foreign taxes withheld (2,263,750) (3,414,433) (152,450) (18,155,505) (2,078,107)
 
Total investment income 368,318,785 50,652,015 5,466,924 242,887,312 35,949,805
Expenses:          
Investment advisory fee 86,511,792 27,575,178 2,195,107 78,627,916 16,364,055
Transfer and dividend disbursing agent fees 1,326,287 575,639 93,916 978,851 152,082
Other shareholder servicing fees 11,794,723 1,627,267 155,808 6,994,944 676,512
Service Fee—Class II 2,060,292 223,111 0 1,554,608 1,074
Reports to shareholders 1,403,404 393,509 44,786 1,056,007 136,654
Custody and accounting fees 1,562,193 1,424,096 151,673 6,526,601 1,187,510
Registration and blue sky expenses 231,084 112,953 88,728 177,208 59,099
Trustee fees 385,036 184,330 83,589 318,859 160,490
Legal fees 137,401 64,931 38,416 112,320 53,220
Audit fees 64,223 28,936 46,096 54,842 22,569
Amortization of organization expenses 0 0 33,966 0 0
Other 474,237 233,651 151,156 388,410 198,415
 
Total expenses 105,950,672 32,443,601 3,083,241 96,790,566 19,011,680
Expense offset arrangements 0 0 (193) 0 0
 
Net expenses 105,950,672 32,443,601 3,083,048 96,790,566 19,011,680
Net Investment Income 262,368,113 18,208,414 2,383,876 146,096,746 16,938,125
Net realized and unrealized gain (loss) on investments and foreign currency transactions:          
Net realized gain on unaffiliated securities 696,644,180 324,857,952 7,145,836 1,412,511,279 297,807,160
Net realized gain on affiliated securities 59,312,087 0 0 13,675,635 37,227,561
Net realized gain on options 0 0 0 0 0
Net realized loss on foreign currency transactions (1,022,336) (3,749,056) (448,111) (27,388,159) (3,567,638)
Net change in unrealized appreciation (depreciation) of investments and foreign currencies 777,795,316 180,426,535 7,871,633 (406,414,072) (175,792,106)
Net change in unrealized appreciation (depreciation)—other (164,029) 106,323 45,644 1,025,662 97,505
Net realized and unrealized gain on investments and foreign currency transactions 1,532,565,218 501,641,754 14,615,002 993,410,345 155,772,482
 
Net increase in net assets resulting from operations $1,794,933,331 $519,850,168 $16,998,878 $1,139,507,091 $172,710,607
 

See accompanying Notes to Financial Statements.