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Data through February 29, 2016

Oppenheimer Main Street A


Morningstar Analyst Rating 05-20-15

Ticker
MSIGX

Status
Open

Yield
0.9%

Total Assets
$6,629 mil

Mstar Category
Large Blend

Return Average
Risk
Average
Rating
Neutral

99%

98%

91%

99%

98%

98%

98%

98%

98%

19.0

Morningstar Pillars

Process
Performance
People
Parent
Price

15.5

Positive
Neutral
Positive
Neutral
Positive

12.5
10.0

Analyst Rating Spectrum

Pillar Spectrum

Positive

Negative

Neutral

Performance 02-29-16
2012
2013
2014
2015
2016
Trailing

1st Qtr

2nd Qtr

3rd Qtr

4th Qtr

Total

2.72
15.08
8.36
1.05
1.61

-0.03
-5.43
2.61
4.96
0.62

-12.72
7.60
7.06
0.91
-5.56

11.33
-0.47
10.51
3.20
.

16.55
31.55
10.46
3.11
.

Total
Return%

+/-

3 Mo
-6.59
6 Mo
-1.57
1 Yr
-4.93
3 Yr Avg 10.88
5 Yr Avg 9.90
10 Yr Avg 5.76
15 Yr Avg 4.84

0.00
-0.65
1.26
0.13
-0.23
-0.68
-0.22

Tax Analysis Tax-Adj Rtn%

3 Yr (estimated)
5 Yr (estimated)
10 Yr (estimated)

6.48
7.17
3.90

+/- Russ
1000

%Rank
Cat

Growth of
$10,000

0.53
0.46
2.28
0.45
-0.02
-0.73
-0.48

24
28
8
11
15
43
36

9,341
9,843
9,507
13,632
16,032
17,507
20,319

%Rank Cat Tax-Cost Rat %Rank Cat

55
48
64

Investment Values of
Fund
Investment Values of

2.05
1.33
1.18

65
61
69

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

02-16

History

37.13
5.74
0.83
-0.53
1.04
4.70
48
0.37
0.00
0.93
0.75
76
7,997

40.66
14.91
-0.88
-0.55
1.02
13.89
41
0.38
1.59
0.92
1.36
79
7,900

36.67
4.20
-1.29
-1.57
1.15
3.05
70
0.47
5.23
0.92
0.93
84
8,188

22.04
-38.74
-1.74
-1.14
1.01
-39.75
64
0.37
0.00
0.89
1.00
104
7,603

28.13
28.77
2.31
0.34
1.14
27.63
40
0.25
0.00
0.91
1.00
120
3,909

32.39
15.78
0.72
-0.32
0.61
15.17
21
0.17
0.00
1.05
1.26
120
4,423

32.16
-0.22
-2.33
-1.72
0.49
-0.71
43
0.16
0.00
1.03
0.76
53
4,583

37.08
16.55
0.55
0.13
1.23
15.32
25
0.40
0.00
0.99
0.62
35
4,029

48.46
31.55
-0.84
-1.56
0.82
30.73
55
0.31
0.00
0.97
0.74
37
4,280

47.89
10.46
-3.23
-2.78
0.72
9.74
65
0.35
5.35
0.93
0.95
46
5,157

43.41
3.11
1.73
2.19
0.91
2.20
8
0.43
5.55
0.92
0.60
52
5,407

41.22
-5.04
0.05
0.37
0.00
-5.04
26
0.00
0.00
.
.
.
4,928

NAV
Total Return %
+/+/-Russ 1000
Income Return %
Capital Return %
Total Rtn % Rank Cat
Income $
Capital Gains $
Expense Ratio %
Income Ratio %
Turnover Rate %
Net Assets $mil

Portfolio Analysis 01-31-16

Rating and Risk


Time
Period

1 Yr
3 Yr
5 Yr
10 Yr
Incept

Load-Adj
Return %

Morningstar
Rtn vs Cat

Morningstar
Risk vs Cat

-10.39
8.71
8.61
5.14
10.67

Avg
Avg
Avg

Avg
-Avg
Avg

Other Measures

Alpha
Beta
R-Squared
Standard Deviation
Mean
Sharpe Ratio

Morningstar
Risk-Adj Rating

Standard Index

Best Fit Index


Russ 1000

0.1
1.01
97

0.4
1.01
98

11.20
10.88
0.97

Potential Capital Gain Exposure: 15% of assets

Morningstars Take by David Kathman, CFA 05-20-15


was hired in 2013 and promoted to comanager the
following year specifically to improve the portfolios
moat trends.
Yet Govil and his comanagers dont want to put all
their eggs in that basket, so about 10% of the portfolio
consists of more-opportunistic plays, firms that dont
have an economic moat but might develop one in the
future. Such companies are riskier than established
wide-moat firms but offer potentially greater rewards
under the right circumstances. Ideally, the presence of
such stocks can help smooth out returns by balancing
out the more-staid wide-moat stocks.
In practice, the bull market of the past six years has
mostly made it tough for stable, wide-moat stocks to
keep up, and this fund has been a middling performer
over Govils tenure despite the presence of its riskier
holdings. But its likely to look better if and when
market conditions get rougher, and the teams strong
previous record at the RS fund is worth noting in that
regard. Those factors, plus a very reasonable price tag,
keep the fund at a Morningstar Analyst Rating of

Address:

Minimum Purchase:
Min Auto Inv Plan:
Sales Fees:
Management Fee:
Actual Fees:
Expense Projections:
Income Distribution:

Web Address:
Inception:
Advisor:
Subadvisor:

Oppenheimer Main Street Funds Inc


Centennial, CO 80112-3924
800-225-5677
www.oppenheimerfunds.com
02-03-88
OFI Global Asset Management, Inc.
OppenheimerFunds Inc

NTF Plans:

DATALynx NTF, Federated Tr NTF

$1000
Add: $0
IRA: $500
$500
Add: .
5.75%L,
0.65% mx./0.43% mn.
Mgt:0.46%
Dist:0.25%
3Yr:$859
5Yr:$1067 10Yr:$1668
Annually

2015 Morningstar, Inc. All rights reserved. The information herein is not represented or warranted to be accurate, correct, complete or
timely. Past performance is no guarantee of future results. Access updated reports at mfb.morningstar.com. To order reprints, call 312-696-6100.

Share change since 12-15 Total Stocks:66 Sector

Apple Inc
Mondelez International I
Citigroup Inc
Google Inc Class C Capit
Actavis PLC
Philip Morris Internatio
Henkel AG & Co KGaA
General Electric Co
Chevron Corp
Oppenheimer Institutiona
Comcast Corp Class A
CME Group Inc Class A
PepsiCo Inc
Amdocs Ltd
Express Scripts Holding
American International G
Deere & Co
HCA Holdings Inc
UnitedHealth Group Inc
Home Depot Inc
Current Investment Style
Value Blnd Growth
Market Cap
Large Mid Small

Oppenheimer Main Streets modified Buffett-esque


approach has worked pretty well over time.
Mani Govil and his team have managed this fund
since 2009, and for four years before that they ran RS
Large Cap Alpha GPAFX very successfully using the
same strategy. Govil has long cited Warren Buffett and
his investing philosophy as an inspiration for that
strategy, and in early 2015 he added Buffetts
Berkshire Hathaway BRK.B to the portfolio for the first
time. But while there are certainly Buffett-like aspects
to the way this fund has been run, Govil, along with
comanagers Benjamin Ram and Paul Larson, have put
their own spin on the approach.
One of the most obvious similarities is an emphasis
on economic moats, or sustainable competitive
advantages that allow a company to hold off
competition and maintain its profitability. Govil
typically keeps around half of the portfolio in stocks
that he sees as having wide economic moats, such as
top holdings Apple AAPL and Citigroup C, and most of
the rest is in companies with narrow moats. Larson

EQ

Growth of $10,000

Performance Quartile
(within Category)

Morningstar evaluates mutual funds based on five key pillars, which


its analysts believe lead to funds that are more likely to outperform
over the long term on a risk-adjusted basis.

Manager Change
Partial Manager Change

6.0

Morningstar Analyst Rating

Investment Style
Equity
Stock %

Historical Profile

Giant
Large
Mid
Small
Micro
Avg $mil:
66,570

Value Measures

Price/Earnings
17.01
Price/Book
2.30
Price/Sales
1.71
Price/Cash Flow
8.08
Dividend Yield % 2.06
Growth Measures

Long-Term Erngs
Book Value
Sales
Cash Flow
Historical Erngs
Profitability

9.46
1.20
2.63
0.30
9.40
%

Return on Equity 19.22


Return on Assets 7.48
Net Margin
13.81

Technology
Cnsmr Def
Finan Svs
Technology
Hlth care
Cnsmr Def
Cnsmr Def
Industrl
Energy
.
Comm Svs
Finan Svs
Cnsmr Def
Technology
Hlth care
Finan Svs
Industrl
Hlth care
Hlth care
Cnsmr Cyc
%

51.9
35.0
12.9
0.2
0.0

Sector
Weightings

h
r
t
y
u

PE Tot Ret% % Assets

10.3
9.1
7.2
30.6
.
20.6
18.5
18.8
34.1
.
17.8
24.8
26.7
21.2
19.8
30.4
14.6
13.9
19.8
23.3
% of
Stocks

Cyclical 26.92
BasicMat 1.61
CnsmrCyc 7.40
FinanSvs 16.50
Real Est 1.41

-7.65
-9.61
-24.83
-8.05
-7.16
3.55
-4.54
-3.64
-6.06
.
2.75
0.93
-2.10
4.01
-19.48
-18.99
5.13
2.34
1.24
-6.15

5.26
3.52
3.46
2.72
2.66
2.58
2.57
2.50
2.38
2.30
2.25
2.25
2.24
2.13
2.12
2.07
2.02
1.92
1.88
1.82

Rel

3 Year
High Low

.
. 4 2
. 12 7
. 19 16
. 1 0

j Sensitive 41.48
.
i CommSrvs 4.56
. 5 1
Rel Category
6.33
o Energy
. 10 5
1.18 p Industrl 14.44
. 15 12
1.13 a Technlgy 16.15
. 17 13
1.36
Defensive31.61
k
.
1.14
. 13 8
0.94 s CnsmrDef12.52
d Hlthcare 15.72
. 20 14
Rel Category f Utilities 3.37
. 3 1
0.91
0.23
0.90 Composition - Net
Cash
2.4
0.04
Stocks 97.6
0.52
Bonds
0.0
Other
0.0
Rel Category
1.00
Foreign 5.8
(% of Stock)
0.97
1.09

Mutual Funds