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Domestic Equity

The Strategy typically invests across the upstream, midstream, and downstream sectors of the energy industry as well as other beneficiaries of North America’s energy renaissance.
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Cumulative Total Returns

as of 9/30/17

Since Inception 11/18/15
-1%
Performance & Distributions
×

Domestic Equity

Gross Expense Ratio:
      1.9%
    Net Expense Ratio:
        1.11%

      The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

      Cumulative Returns
      • A

      Compare to Indices

      SteelPath Panoramic Fund
      VALUE of $10,000.00

      Income Dividend History
      • B

      No income dividends were paid during this time.
      Calendar Year Returns % (w/o sales charge)
      Data as of 10/18/17
        2015 2016 YTD
      • C
      SteelPath Panoramic Fund 27.61 -14.78
      S&P 500 Energy (Sector) Index 27.36

      The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

      Average Annual Total Returns
      • A

      as of 9/30/17

      as of 9/30/17

      • A
      YTD (as of 10/18/17)
      • C
      -14.78%
      1 Year -7.65%
      Since Inception -0.51%
      YTD (as of 10/18/17)
      • C
      -14.78%
      1 Year -7.65%
      Since Inception -0.51%
      YTD (as of 10/18/17)
      • C
      -14.78%
      1 Year -7.65%
      Since Inception -0.51%
      YTD (as of 10/18/17)
      • C
      -14.78%
      1 Year -7.65%
      Since Inception -0.51%
      Gross Expense Ratio
      1.90%
      Net Expense Ratio
      1.11%
      NAV
      • D
      as of 10/18/17
      $9.69

      The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.

      Top Holdings

      09/30/17

      Halliburton Co.
      3.9%
      ConocoPhillips
      3.8%
      Concho Resources, Inc.
      3.7%
      Cimarex Energy Co.
      3.7%
      Newfield Exploration Co.
      3.6%
      DowDuPont, Inc.
      3.5%
      Oasis Petroleum, Inc.
      3.3%
      Teekay LNG Partners LP
      3.0%
      WPX Energy, Inc.
      2.9%
      Pioneer Natural Resources Co....
      2.9%
      ×
      • 3.9%
        Halliburton Co.
      • Provides products and services to the energy industry for exploring, developing and producing oil and natural gas
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Equipment & Services
      MARKET CAP Large
      ×
      • 3.8%
        ConocoPhillips
      • Explores, produces, refines & wholesales oil and natural gas
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Large
      ×
      • 3.7%
        Concho Resources, Inc.
      • Engages in the acquisition, development and exploration of oil and natural gas properties
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 3.7%
        Cimarex Energy Co.
      • Operates as an oil and gas exploration and production company
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 3.6%
        Newfield Exploration Co.
      • Operates as an oil and gas exploration company
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 3.5%
        DowDuPont, Inc.
      • Operates as a holding company which develops specialty materials, chemicals, and agricultural products
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Chemicals
      MARKET CAP Large
      ×
      • 3.3%
        Oasis Petroleum, Inc.
      • Engages in the acquisition and development of oil & natural gas resources
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Small
      ×
      • 3.0%
        Teekay LNG Partners LP
      • Provides crude oil marine transportation services
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Transportation & Industrial
      MARKET CAP Small
      ×
      • 2.9%
        WPX Energy, Inc.
      • Engages in the exploration and production of petroleum and gas reserves
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 2.9%
        Pioneer Natural Resources Co.
      • Operates as an oil and gas exploration and production company
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Large
      Holdings Breakdown

      as of 09/30/17

      47.9%

      Exploration & Production

      16.1%

      Midstream

      No Holding
      in
      Midstream
      11.8%

      Equipment & Services

      9.6%

      Chemicals

      9.1%

      Transportation & Industrial

      4.3%

      Refining

      No Holding
      in
      Refining
      98.8%

      40.6%

      Mid

      30.5%

      Small

      27.7%

      Large

      Equity Style
      • E
      Total Assets (all classes)
      as of 9/30/17
      $19.2 MM
      Portfolio Statistics

      as of 9/30/17

      Avg Market Cap (weighted) 18.3 BN
      Median Market Cap (weighted) 10.2 BN
      P/E Ratio (NTM) 30.20
      P/E Ratio (LTM) 151.46
      Price/Book Value (LTM) 1.76
      Turnover Ratio
      35.00%
      Investment Minimums
      Initial
      $1,000
      Dividends ($ per share)
      • B
      Est Frequency Annual
      Last Pay Date 12/21/15
      Per Share ($) 0.0051
      Distribution Sources
      Net Income 67.80%
      Net Profit from Sale 0.00%
      Other Capital Sources 32.20%
      Top Holdings

      09/30/17

      Halliburton Co....
      3.9%
      ConocoPhillips
      3.8%
      Concho Resource...
      3.7%
      Cimarex Energy ...
      3.7%
      Newfield Explor...
      3.6%
      DowDuPont, Inc....
      3.5%
      Oasis Petroleum...
      3.3%
      Teekay LNG Part...
      3.0%
      WPX Energy, Inc...
      2.9%
      Pioneer Natural...
      2.9%
      Holdings Breakdown

      as of 09/30/17

      Reset
      47.9%

      Exploration & Production

      16.1%

      Midstream

      No Holding
      in
      Midstream
      11.8%

      Equipment & Services

      9.6%

      Chemicals

      9.1%

      Transportation & Industrial

      4.3%

      Refining

      No Holding
      in
      Refining
      98.8%

      40.6%

      Mid

      30.5%

      Small

      27.7%

      Large

      ×
      • 3.9%
        Halliburton Co.
      • Provides products and services to the energy industry for exploring, developing and producing oil and natural gas
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Equipment & Services
      MARKET CAP Large
      ×
      • 3.8%
        ConocoPhillips
      • Explores, produces, refines & wholesales oil and natural gas
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Large
      ×
      • 3.7%
        Concho Resources, Inc.
      • Engages in the acquisition, development and exploration of oil and natural gas properties
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 3.7%
        Cimarex Energy Co.
      • Operates as an oil and gas exploration and production company
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 3.6%
        Newfield Exploration Co.
      • Operates as an oil and gas exploration company
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 3.5%
        DowDuPont, Inc.
      • Operates as a holding company which develops specialty materials, chemicals, and agricultural products
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Chemicals
      MARKET CAP Large
      ×
      • 3.3%
        Oasis Petroleum, Inc.
      • Engages in the acquisition and development of oil & natural gas resources
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Small
      ×
      • 3.0%
        Teekay LNG Partners LP
      • Provides crude oil marine transportation services
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Transportation & Industrial
      MARKET CAP Small
      ×
      • 2.9%
        WPX Energy, Inc.
      • Engages in the exploration and production of petroleum and gas reserves
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Mid
      ×
      • 2.9%
        Pioneer Natural Resources Co.
      • Operates as an oil and gas exploration and production company
        Source: FactSet
      ASSET ALLOCATION Equity
      EQUITY SECTOR Exploration & Production
      MARKET CAP Large

      Management

      Brian Watson, CFA

      Managed Fund since 11/15

      Investment Approach

      The portfolio manager focuses on identifying companies spanning the entire energy value chain that may benefit from the shifting energy landscape across a range of commodity price scenarios.

      Risk Management

      Our team limits exposure to individual companies, industries and sectors, seeking to limit volatility through company quality and diversification. Risk Management Overview

      We conduct rigorous fundamental research to identify individual companies with asymmetrical risk/return opportunities. Risk Management Overview

      At the portfolio level, our experienced investment personnel closely monitor the strategy's positioning, and the active risk resulting from our security selection process and sector allocations. We evaluate factor and style exposure, as well as the ownership and liquidity profile of each security in the portfolio. Risk Management Overview

      Our team proactively manages risk by constructing diversified portfolios across sectors, industry groups and securities. We manage, monitor and limit sector weights relative to specified benchmarks and security position sizes within each portfolio. Risk Management Overview

      Our team closely monitors position size and sector weights; we have limits on active security weights against the benchmark for each strategy we manage. Risk Management Overview

      Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We mainly focus on currency, interest rates and credit. Positions are sized and monitored according to established limits. Risk Management Overview

      We focus primarily on senior loans in an effort to maintain product integrity and limit duration risk. Risk Management Overview

      The team manages risk at both a strategy and individual security level to help ensure that, when combined, they act as the ballast in an investor’s overall portfolio. Risk Management Overview

      Risk is managed at the portfolio, strategy and security levels to identify diversified sources of alpha. We seek to identify primary and secondary risks of each investment. Diversification of sectors can potentially reduce volatility. Risk Management Overview

      The team manages risk by administering duration limits, limiting portfolio weighted average maturity and conducting thorough credit analysis on individual securities. Risk Management Overview

      The Rochester team has created diverse portfolios designed to mitigate the types of risks that municipal bond investors may encounter. Risk Management Overview

      The Commodities team manages risk on multiple levels, including individual commodity sector levels and overall fund level. Risk Management Overview

      The Real Estate team monitors and manages risk at the security, sector and strategy levels. Risk Management Overview

      The Global Multi-Asset Group monitors and manages risk on an ongoing basis, both at the asset class and portfolio levels. Risk Management Overview

      We emphasize capital preservation by avoiding companies that may cut distributions. We seek to build diversified portfolios comprised of energy and energy related companies with attractive risk-adjusted total return potential. Risk Management Overview

      The Alternative Strategies team evaluates risk on multiple levels, applying numerous risk analysis methods on an ongoing basis in addition to assessing risk impacts of a position prior to making investment decisions. Risk Management Overview

      Risk is monitored by quantitative risk system and managed at many levels – stock, sector, country, and style factors. We seek to diversify the portfolio across the global listed infrastructure market and adhere to an established risk framework, including constraints imposed by position limits versus a benchmark. Risk Management Overview

      We monitor and manage both security and sector weights to the underlying index to ensure that the portfolio is properly tracking its benchmark. Also, partnering with well-known index providers ensures that we hold only high quality securities that pass very stringent profitability and liquidity screens. Risk Management Overview

      ×
      1. 1. Special Risks: Small-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a small-sized company, if any gain is realized at all. Investments in securities of growth companies may be volatile. Investing in MLPs involves additional risks as compared to the risks of investing in common stock, including risks related to cash flow, dilution and voting rights. The Fund may invest no more than 25% of total assets in MLPs. Energy infrastructure companies are subject to risks specific to the industry such as fluctuations in commodity prices, reduced volumes of natural gas or other energy commodities, environmental hazards, changes in the macroeconomic or the regulatory environment or extreme weather. MLPs may trade less frequently than larger companies due to their smaller capitalizations which may result in erratic price movement or difficulty in buying or selling. Below-investment-grade (“high yield” or "junk") bonds are more at risk of default and are subject to liquidity risk. Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. The Fund is classified as a “non-diversified” fund and may invest a greater portion of its assets in the securities of a single issuer.
      2. 2. Class I shares are only offered to eligible institutional investors that make a minimum initial investment of $1 million or more and to retirement plan service provider platforms. The minimum account balance for class I shares is $2.5 million. Class I shares are sold at net asset value without a sales charge. Please see Fund prospectuses for additional information.
      3. 3. Access index definitions.
      4. 4. Holdings are subject to change, are dollar-weighted based on assets, and may not reflect the use of leverage in the Fund. Market Cap breakdown is calculated using Morningstar's methodology and those capitalization standards may not align with those in the Fund’s prospectus.
      5. A. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investment in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the original cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price, reinvested distributions, and a 5.75% maximum sales charge where indicated. Returns do not consider capital gains or income taxes on an individual's investment.
      6. B. There is no guarantee of the payment of any dividend or other distributions at any level.
      7. C. "Year to Date" returns are cumulative, not annualized, and do not reflect sales charges (if sales charges are applicable to the Fund). These returns would be lower if sales charges were taken into consideration. Short-term returns may not be indicative of longer-term performance, which should also be considered when making investment decisions.
      8. D. Daily net asset value and dollar change of the fund is as of the previous business day's closing. Fund net asset values are updated at approximately 7:00pm ET daily.
      9. E. OppenheimerFunds' equity style box is based on the portfolio's overall targeted capitalization range and relative valuation as determined by OFI.
      ×
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