|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Forward Currency Exchange Contracts as of January 31, 2014
|
|
|
|
|
|
|
|
|
Currency Purchased
|
|
|
|
|
|
|
|
|
Unrealized
|
|
Counterparty
|
|
Settlement Month(s)
|
|
|
|
|
(000s)
|
|
|
Currency Sold (000s)
|
|
|
Depreciation
|
|
|
|
MSCO
|
|
04/2014
|
|
|
USD
|
|
|
|
11,434
|
|
|
|
JPY
|
|
|
|
1,195,000
|
|
|
|
$265,865
|
|
|
|
|
|
|
Glossary:
|
|
|
|
|
Counterparty
|
|
|
|
|
Abbreviations
|
|
|
|
|
MCSO
|
|
Morgan Stanley Capital Services, Inc.
|
|
|
3 OPPENHEIMER
DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
|
|
|
Currency abbreviations indicate amounts reporting in
currencies
|
JPY
Japanese Yen
|
|
|
4 OPPENHEIMER DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited
|
|
|
Effective December 11, 2013 the Fund changed its name to Oppenheimer Dividend
Opportunity Fund from Oppenheimer Select Value Fund.
Oppenheimer Dividend Opportunity Fund (the Fund) is a
diversified open-end management investment company registered under the Investment Company Act of 1940, as amended. The Funds investment objective is to seek total return. The Funds investment adviser is OFI Global Asset Management, Inc.
(OFI Global or the Manager), a wholly-owned subsidiary of OppenheimerFunds, Inc. (OFI or the Sub-Adviser). The Manager has entered into a sub-advisory agreement with OFI.
Investment in Oppenheimer Institutional Money Market Fund.
The Fund is permitted to invest daily available cash balances in
an affiliated money market fund. The Fund may invest the available cash in Class E shares of Oppenheimer Institutional Money Market Fund (IMMF) to seek current income while preserving liquidity. IMMF is a registered open-end management
investment company, regulated as a money market fund under the Investment Company Act of 1940, as amended. The Manager is the investment adviser of IMMF, and the Sub-Adviser provides investment and related advisory services to IMMF. When applicable,
the Funds investment in IMMF is included in the Statement of Investments. Shares of IMMF are valued at their net asset value per share. As a shareholder, the Fund is subject to its proportional share of IMMFs Class E expenses, including
its management fee. The Manager will waive fees and/or reimburse Fund expenses in an amount equal to the indirect management fees incurred through the Funds investment in IMMF.
Foreign Currency Translation.
The Funds accounting records are maintained in U.S. dollars. The values of securities
denominated in foreign currencies and amounts related to the purchase and sale of foreign securities and foreign investment income are translated into U.S. dollars as of the close of the New York Stock Exchange (the Exchange), normally
4:00 P.M. Eastern time, on each day the Exchange is open for trading. Foreign exchange rates may be valued primarily using a reliable bank, dealer or service authorized by the Board of Trustees.
Securities Valuation
The Fund calculates the net asset value of its shares as
of the close of the New York Stock Exchange (the Exchange), normally 4:00 P.M. Eastern time, on each day the Exchange is open for trading.
The Funds Board has adopted procedures for the valuation of the Funds securities and has delegated the
day-to-day responsibility for valuation determinations under those procedures to the Manager. The Manager has established a Valuation Committee which is responsible for determining a fair valuation for any security for which market
quotations are not readily available. The Valuation Committees fair valuation determinations are subject to review, approval and ratification by the Funds Board at its next regularly scheduled meeting covering the calendar
quarter in which the fair valuation was determined.
Valuation Methods and Inputs
Securities are valued using unadjusted quoted market prices, when available, as supplied primarily by third party pricing services
or dealers.
The following methodologies are used to determine the market value or the fair value of the
types of securities described below:
5 OPPENHEIMER DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
Securities Valuation (Continued)
Securities traded on a registered U.S. securities exchange
(including exchange-traded derivatives other than futures and futures options) are valued based on the last sale price of the security reported on the principal exchange on which it is traded, prior to the time when the Funds assets are
valued. In the absence of a sale, the security is valued at the last sale price on the prior trading day, if it is within the spread of the current days closing bid and asked prices, and if not, at the current
days closing bid price. A security of a foreign issuer traded on a foreign exchange, but not listed on a registered U.S. securities exchange, is valued based on the last sale price on the principal exchange on which the security is traded, as
identified by the third party pricing service used by the Manager, prior to the time when the Funds assets are valued. If the last sale price is unavailable, the security is valued at the most recent official closing price on the principal
exchange on which it is traded. If the last sales price or official closing price for a foreign security is not available, the security is valued at the mean between the bid and asked price per the exchange or, if not available from the exchange,
obtained from two dealers. If bid and asked prices are not available from either the exchange or two dealers, the security is valued by using one of the following methodologies (listed in order of priority): (1) using a bid from the exchange,
(2) the mean between the bid and asked price as provided by a single dealer, or (3) a bid from a single dealer.
Shares of a registered investment company that are not traded on an exchange are valued at that investment companys net asset value per share.
Corporate and government debt securities (of U.S. or foreign issuers) and municipal debt securities, event-linked
bonds, loans, mortgage-backed securities, collateralized mortgage obligations, and asset-backed securities are valued at the mean between the bid and asked prices utilizing evaluated prices obtained from third party pricing
services or broker-dealers who may use matrix pricing methods to determine the evaluated prices.
Short-term money market type debt securities with a remaining maturity of sixty days or less are valued at cost
adjusted by the amortization of discount or premium to maturity (amortized cost), which approximates market value. Short-term debt securities with a remaining maturity in excess of sixty days are valued at the mean between the bid and
asked prices utilizing evaluated prices obtained from third party pricing services or broker-dealers.
Forward foreign currency exchange contracts are valued utilizing current and forward currency rates obtained from third party pricing services. When the settlement date of a contract is an interim date for which a
quotation is not available, interpolated values are derived using the nearest dated forward currency rate.
A
description of the standard inputs that may generally be considered by the third party pricing vendors in determining their evaluated prices is provided below.
|
|
|
Security Type
|
|
Standard inputs generally considered by third-party pricing vendors
|
|
Corporate debt, government debt, municipal, mortgage-backed and asset-backed securities
|
|
Reported trade data, broker-dealer price quotations, benchmark yields, issuer spreads on comparable securities, the credit quality, yield, maturity, and other appropriate
factors.
|
|
Loans
|
|
Information obtained from market participants regarding reported trade data and broker-dealer price quotations.
|
|
Event-linked bonds
|
|
Information obtained from market participants regarding reported trade data and broker-dealer price quotations.
|
6 OPPENHEIMER DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
Securities Valuation (Continued)
If a market value or price cannot be determined for a security using the
methodologies described above, or if, in the good faith opinion of the Manager, the market value or price obtained does not constitute a readily available market quotation, or a significant event has occurred that would
materially affect the value of the security the security is fair valued either (i) by a standardized fair valuation methodology applicable to the security type or the significant event as previously approved by the Valuation Committee and the
Funds Board or
(ii) as determined in good faith by the Managers Valuation Committee. The Valuation
Committee considers all relevant facts that are reasonably available, through either public information or information available to the Manager, when determining the fair value of a security. Fair value determinations by the Manager are subject to
review, approval and ratification by the Funds Board at its next regularly scheduled meeting covering the calendar quarter in which the fair valuation was determined. Those fair valuation standardized methodologies include, but are not limited
to, valuing securities at the last sale price or initially at cost and subsequently adjusting the value based on: changes in company specific fundamentals, changes in an appropriate securities index, or changes in the value of similar securities
which may be further adjusted for any discounts related to security-specific resale restrictions. When possible, such methodologies use observable market inputs such as unadjusted quoted prices of similar securities, observable interest rates,
currency rates and yield curves. The methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities nor can it be assured that the Fund can obtain the fair value assigned to a
security if it were to sell the security.
To assess the continuing appropriateness of security
valuations, the Manager, or its third party service provider who is subject to oversight by the Manager, regularly compares prior day prices, prices on comparable securities, and sale prices to the current day prices and challenges those prices
exceeding certain tolerance levels with the third party pricing service or broker source. For those securities valued by fair valuations, whether through a standardized fair valuation methodology or a fair valuation determination, the Valuation
Committee reviews and affirms the reasonableness of the valuations based on such methodologies and fair valuation determinations on a regular basis after considering all relevant information that is reasonably available.
Classifications
Each investment asset or liability of the Fund is assigned a level at measurement date based on the significance and source of the inputs to its valuation. Various data inputs are used in determining the value of
each of the Funds investments as of the reporting period end. These data inputs are categorized in the following hierarchy under applicable financial accounting standards:
1) Level 1-unadjusted quoted prices in active markets for identical assets or liabilities (including securities
actively traded on a securities exchange)
2) Level 2-inputs other than unadjusted quoted prices that are
observable for the asset or liability (such as unadjusted quoted prices for similar assets and market corroborated inputs such as interest rates, prepayment speeds, credit risks, etc.)
3) Level 3-significant unobservable inputs (including the Managers own judgments about assumptions that market
participants would use in pricing the asset or liability).
The inputs used for valuing securities are not necessarily
an indication of the risks associated with investing in those securities.
7 OPPENHEIMER DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
Securities Valuation (Continued)
The table below categorizes amounts as of January 31, 2014 based on valuation
input level:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1
Unadjusted
Quoted Prices
|
|
|
Level 2
Other Significant
Observable Inputs
|
|
|
Level 3
Significant
Unobservable
Inputs
|
|
|
Value
|
|
|
|
Assets Table
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments, at Value:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common Stocks
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consumer Discretionary
|
|
$
|
17,044,875
|
|
|
$
|
4,054,128
|
|
|
$
|
|
|
|
$
|
21,099,003
|
|
Consumer Staples
|
|
|
9,587,272
|
|
|
|
3,736,239
|
|
|
|
|
|
|
|
13,323,511
|
|
Energy
|
|
|
23,248,275
|
|
|
|
|
|
|
|
|
|
|
|
23,248,275
|
|
Financials
|
|
|
30,844,429
|
|
|
|
6,583,753
|
|
|
|
|
|
|
|
37,428,182
|
|
Health Care
|
|
|
18,413,143
|
|
|
|
1,226,173
|
|
|
|
|
|
|
|
19,639,316
|
|
Industrials
|
|
|
18,966,302
|
|
|
|
2,428,679
|
|
|
|
|
|
|
|
21,394,981
|
|
Information Technology
|
|
|
21,841,417
|
|
|
|
2,679,065
|
|
|
|
|
|
|
|
24,520,482
|
|
Materials
|
|
|
1,674,976
|
|
|
|
|
|
|
|
|
|
|
|
1,674,976
|
|
Telecommunication Services
|
|
|
11,519,963
|
|
|
|
|
|
|
|
|
|
|
|
11,519,963
|
|
Utilities
|
|
|
14,269,367
|
|
|
|
1,514,650
|
|
|
|
|
|
|
|
15,784,017
|
|
Investment Company
|
|
|
947,883
|
|
|
|
|
|
|
|
|
|
|
|
947,883
|
|
|
|
|
|
|
Total Assets
|
|
$
|
168,357,902
|
|
|
$
|
22,222,687
|
|
|
$
|
|
|
|
$
|
190,580,589
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities Table
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Financial Instruments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign Currency Exchange Contracts
|
|
$
|
|
|
|
$
|
(265,865)
|
|
|
$
|
|
|
|
$
|
(265,865)
|
|
|
|
|
|
|
Total Liabilities
|
|
$
|
|
|
|
$
|
(265,865)
|
|
|
$
|
|
|
|
$
|
(265,865)
|
|
|
|
|
|
|
Currency contracts and forwards, if any, are reported at their unrealized appreciation/
depreciation at measurement date, which represents the change in the contracts value from trade date. Futures, if any, are reported at their variation margin at measurement date, which represents the amount due to/from the Fund at that date.
All additional assets and liabilities included in the above table are reported at their market value at measurement date.
8 OPPENHEIMER DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
Securities Valuation (Continued)
The table below shows the transfers between Level 1 and Level 2. The Funds
policy is to recognize transfers in and transfers out as of the beginning of the reporting period.
|
|
|
|
|
|
|
|
|
|
|
|
|
Transfers out of Level 1*
|
|
|
Transfers into Level 2*
|
|
|
|
|
|
|
Assets Table
|
|
|
|
|
|
|
|
|
|
Investments, at Value:
|
|
|
|
|
|
|
|
|
|
Commons Stocks
|
|
|
|
|
|
|
|
|
|
Consumer Staples
|
|
$
|
(714,366)
|
|
|
$
|
714,366
|
|
|
Financials
|
|
|
(1,035,051)
|
|
|
|
1,035,051
|
|
|
Industrials
|
|
|
(1,059,799)
|
|
|
|
1,059,799
|
|
|
|
|
|
|
|
|
Total Assets
|
|
$
|
(2,809,216)
|
|
|
$
|
2,809,216
|
|
|
|
|
|
|
|
|
|
*
|
Transferred from Level 1 to Level 2 due to the absence of a readily available unadjusted quoted market price.
|
Risk Exposures and the Use of Derivative Instruments
The Funds
investment objectives not only permit the Fund to purchase investment securities, they also allow the Fund to enter into various types of derivatives contracts, including, but not limited to, futures contracts, forward currency exchange contracts,
credit default swaps, interest rate swaps, total return swaps, variance swaps and purchased and written options. In doing so, the Fund will employ strategies in differing combinations to permit it to increase, decrease, or change the level or types
of exposure to market risk factors. These instruments may allow the Fund to pursue its objectives more quickly and efficiently than if it were to make direct purchases or sales of securities capable of effecting a similar response to market factors.
Such contracts may be entered into through a bilateral over-the-counter (OTC) transaction, or through a securities or futures exchange and cleared through a clearinghouse.
Market Risk Factors.
In accordance with its investment objectives, the Fund may use derivatives to increase or decrease its
exposure to one or more of the following market risk factors:
Commodity Risk.
Commodity risk relates to the
change in value of commodities or commodity indexes as they relate to increases or decreases in the commodities market. Commodities are physical assets that have tangible properties. Examples of these types of assets are crude oil, heating oil,
metals, livestock, and agricultural products.
Credit Risk.
Credit risk relates to the ability of the issuer to
meet interest and principal payments, or both, as they come due. In general, lower-grade, higher-yield bonds are subject to credit risk to a greater extent than lower-yield, higher-quality bonds.
Equity Risk.
Equity risk relates to the change in value of equity securities as they relate to increases or decreases in the
general market.
9 OPPENHEIMER DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
Risk Exposures and the Use of Derivative Instruments (Continued)
Foreign Exchange Rate Risk.
Foreign exchange rate risk relates to the
change in the U.S. dollar value of a security held that is denominated in a foreign currency. The U.S. dollar value of a foreign currency denominated security will decrease as the dollar appreciates against the currency, while the U.S. dollar value
will increase as the dollar depreciates against the currency.
Interest Rate Risk.
Interest rate risk refers to
the fluctuations in value of fixed-income securities resulting from the inverse relationship between price and yield. For example, an increase in general interest rates will tend to reduce the market value of already issued fixed-income investments,
and a decline in general interest rates will tend to increase their value. In addition, debt securities with longer maturities, which tend to have higher yields, are subject to potentially greater fluctuations in value from changes in interest rates
than obligations with shorter maturities.
Volatility Risk.
Volatility risk refers to the magnitude of the
movement, but not the direction of the movement, in a financial instruments price over a defined time period.
Large increases or decreases in a financial instruments price over a relative time period typically indicate greater
volatility risk, while small increases or decreases in its price typically indicate lower volatility risk.
Derivatives may have little or no initial cash investment relative to their market value exposure and therefore can produce significant gains or losses in excess of their cost due to unanticipated
changes in the market risk factors and the overall market. This use of embedded leverage allows the Fund to increase its market value exposure relative to its net assets and can substantially increase the volatility of the Funds performance.
In instances where the Fund is using derivatives to decrease, or hedge, exposures to market risk factors for securities held by the Fund, there are also risks that those derivatives may not perform as expected resulting in losses for the combined or
hedged positions. Some derivatives have the potential for unlimited loss, regardless of the size of the Funds initial investment.
Additional associated risks from investing in derivatives also exist and potentially could have significant effects on the valuation of the derivative and the Fund. Typically, the associated risks are
not the risks that the Fund is attempting to increase or decrease exposure to, per its investment objectives, but are the additional risks from investing in derivatives. Examples of these associated risks are liquidity risk, which is the risk that
the Fund will not be able to sell the derivative in the open market in a timely manner, and counterparty credit risk, which is the risk that the counterparty will not fulfill its obligation to the Fund.
The Funds actual exposures to these market risk factors and associated risks during the period are
discussed in further detail, by derivative type, below.
Forward Currency Exchange Contracts
The Fund may enter into forward currency exchange contracts (forward contracts) for the purchase or sale of a foreign
currency at a negotiated rate at a future date. Such contracts are traded in the OTC inter-bank currency dealer market.
Forward contracts are reported on a schedule following the Statement of Investments. The unrealized appreciation (depreciation) is reported in the Statement of Assets and Liabilities in the annual and
semiannual reports as a receivable (or payable) and in the Statement of Operations in the annual and semiannual reports within the change in unrealized appreciation (depreciation). At contract close, the difference between the original
10 OPPENHEIMER
DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
Risk Exposures and the Use of Derivative Instruments (Continued)
cost of the contract and the value at the close date is recorded as a realized gain (loss) in the Statement of Operations in the annual and semiannual reports.
The Fund has entered into forward contracts with the obligation to sell specified foreign currencies in the future
at a currently negotiated forward rate in order to decrease exposure to foreign exchange rate risk associated with foreign currency denominated securities held by the Fund.
During the period ended January 31, 2014, the Fund had daily average contract amounts on forward contracts to
buy and sell of $208,191 and $11,411,887, respectively.
Additional associated risk to the Fund includes
counterparty credit risk. Counterparty credit risk arises from the possibility that the counterparty to a forward contract will default and fail to perform its obligations to the Fund.
Counterparty Credit Risk.
Derivative positions are subject to the risk that the counterparty will not fulfill its obligation
to the Fund. The Fund intends to enter into derivative transactions with counterparties that the Manager believes to be creditworthy at the time of the transaction.
The Funds risk of loss from counterparty credit risk on OTC derivatives is generally limited to the aggregate
unrealized gain netted against any collateral held by the Fund. For OTC options purchased, the Fund bears the risk of loss of the amount of the premiums paid plus the positive change in market values net of any collateral held by the Fund should the
counterparty fail to perform under the contracts. Options written by the Fund do not typically give rise to counterparty credit risk, as options written generally obligate the Fund and not the counterparty to perform.
To reduce counterparty risk with respect to OTC transactions, the Fund has entered into master netting arrangements,
established within the Funds International Swap and Derivatives Association, Inc. (ISDA) master agreements, which allow the Fund to make (or to have an entitlement to receive) a single net payment in the event of default (close-out
netting) for outstanding payables and receivables with respect to certain OTC positions in swaps, options, swaptions, and forward currency exchange contracts for each individual counterparty. In addition, the Fund may require that certain
counterparties post cash and/or securities in collateral accounts to cover their net payment obligations for those derivative contracts subject to ISDA master agreements. If the counterparty fails to perform under these contracts and agreements, the
cash and/or securities will be made available to the Fund.
ISDA master agreements include credit related
contingent features which allow counterparties to OTC derivatives to terminate derivative contracts prior to maturity in the event that, for example, the Funds net assets decline by a stated percentage or the Fund fails to meet the terms of
its ISDA master agreements, which would cause the Fund to accelerate payment of any net liability owed to the counterparty.
For financial reporting purposes, the Fund does not offset derivative assets and derivative liabilities that are subject to netting arrangements in the Statement of Assets and Liabilities in the annual and
semiannual reports. Bankruptcy or insolvency laws of a particular jurisdiction may impose restrictions on or prohibitions against the right of offset in bankruptcy, insolvency or other events.
The Funds risk of loss from counterparty credit risk on exchange-traded derivatives cleared through a
clearinghouse and for cleared swaps is generally considered lower than as compared to OTC derivatives. However, counterparty credit risk exists with respect to initial and variation margin deposited/paid by the Fund that is
11 OPPENHEIMER
DIVIDEND OPPORTUNITY FUND
|
|
|
|
|
|
|
|
|
|
NOTES TO STATEMENT OF
INVESTMENTS
Unaudited / Continued
|
|
|
Risk Exposures and the Use of Derivative Instruments (Continued)
held in futures commission merchant, broker and/or clearinghouse accounts for such exchange-traded derivatives and for cleared swaps.
With respect to cleared swaps, such transactions will be submitted for clearing, and if cleared, will be held in
accounts at futures commission merchants or brokers that are members of clearinghouses. While brokers, futures commission merchants and clearinghouses are required to segregate customer margin from their own assets, in the event that a broker,
futures commission merchant or clearinghouse becomes insolvent or goes into bankruptcy and at that time there is a shortfall in the aggregate amount of margin held by the broker, futures commission merchant or clearinghouse for all its customers,
U.S. bankruptcy laws will typically allocate that shortfall on a pro-rata basis across all the brokers, futures commission merchants or clearinghouses customers, potentially resulting in losses to the Fund.
There is the risk that a broker, futures commission merchant or clearinghouse will decline to clear a transaction on
the Funds behalf, and the Fund may be required to pay a termination fee to the executing broker with whom the Fund initially enters into the transaction. Clearinghouses may also be permitted to terminate cleared swaps at any time. The Fund is
also subject to the risk that the broker or futures commission merchant will improperly use the Funds assets deposited/paid as initial or variation margin to satisfy payment obligations of another customer. In the event of a default by another
customer of the broker or futures commission merchant, the Fund might not receive its variation margin payments from the clearinghouse, due to the manner in which variation margin payments are aggregated for all customers of the broker/futures
commission merchant.
Collateral and margin requirements differ by type of derivative. Margin
requirements are established by the broker, futures commission merchant or clearinghouse for exchange-traded and cleared derivatives, including cleared swaps. Brokers, futures commission merchants and clearinghouses can ask for margin in excess of
the regulatory minimum, or increase the margin amount, in certain circumstances.
Collateral terms are
contract specific for OTC derivatives. For derivatives traded under an ISDA master agreement, the collateral requirements are typically calculated by netting the mark to market amount for each transaction under such agreement and comparing that
amount to the value of any collateral currently pledged by the Fund or the counterparty.
For financial
reporting purposes, cash collateral that has been pledged to cover obligations of the Fund, if any, is reported separately on the Statement of Assets and Liabilities in the annual and semiannual reports as cash pledged as collateral. Non-cash
collateral pledged by the Fund, if any, is noted in the Statement of Investments. Generally, the amount of collateral due from or to a party must exceed a minimum transfer amount threshold (e.g. $250,000) before a transfer has to be made. To the
extent amounts due to the Fund from its counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from counterparty nonperformance.
Federal Taxes
The approximate aggregate cost of securities and other
investments and the composition of unrealized appreciation and depreciation of securities and other investments for federal income tax purposes as of January 31, 2014 are noted below. The primary difference between book and tax appreciation or
depreciation of securities and other investments, if applicable, is attributable to the tax deferral of losses.
|
|
|
|
|
Federal tax cost of securities
|
|
$
|
177,802,482
|
|
|
|
|
|
|
|
|
Gross unrealized appreciation
|
|
$
|
16,680,773
|
|
Gross unrealized depreciation
|
|
|
(3,902,666)
|
|
|
|
|
|
|
Net unrealized appreciation
|
|
$
|
12,778,107
|
|
|
|
|
|
|
12 OPPENHEIMER
DIVIDEND OPPORTUNITY FUND
Item 2. Controls and Procedures.
|
(a)
|
Based on their evaluation of the registrants disclosure controls and procedures (as defined in rule 30a-3(c) under the Investment Company Act of 1940 (17 CFR 270.30a-3(c)) as of 1/31/2014, the registrants
principal executive officer and principal financial officer found the registrants disclosure controls and procedures to provide reasonable assurances that information required to be disclosed by the registrant in the reports that it files
under the Securities Exchange Act of 1934 (a) is accumulated and communicated to the registrants management, including its principal executive officer and principal financial officer, to allow timely decisions regarding required
disclosure, and (b) is recorded, processed, summarized and reported, within the time periods specified in the rules and forms adopted by the U.S. Securities and Exchange Commission.
|
|
(b)
|
There have been no significant changes in the registrants internal controls over financial reporting that occurred during the registrants last fiscal quarter that has materially affected, or is reasonably
likely to materially affect, the registrants internal control over financial reporting.
|
Item 3. Exhibits.
Exhibits attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
Oppenheimer Dividend Opportunity Fund
|
|
|
By:
|
|
/s/ William F. Glavin, Jr.
|
|
|
William F. Glavin, Jr.
|
|
|
Principal Executive Officer
|
|
Date: 3/13/2014
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has
been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
By:
|
|
/s/ William F. Glavin, Jr.
|
|
|
William F. Glavin, Jr.
|
|
|
Principal Executive Officer
|
|
Date: 3/13/2014
|
|
|
By:
|
|
/s/ Brian W. Wixted
|
|
|
Brian W. Wixted
|
|
|
Principal Financial Officer
|
|
Date: 3/13/2014
|
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