United States

Registered Investment Advisor

Oppenheimer Funds

Domestic Equity

Main Street Small Cap Fund®

1

The Strategy typically invests in small-cap U.S. company stocks.

Fund Commentary

Fact Sheet

Investment Style: Small Cap Core
Fund Inception: May 17, 2013
Total Assets (all classes) (as of 6/30/2017): $605 million
Fund Index: Russell 2000
NAV (as of 7/21/17) ^A: $15.26

Overview Data Management Insights Contact Us

performance

analytics

holdings

Domestic Equity

Main Street Small Cap Fund®

CLASS I: OSSIX

Average Annual Returns as of 6/30/2017

as of 6/30/2017

Sales charges are not applicable to Y & I Share Classes.

	Cumulative				Annualized
	1 mo	3 mo	ytd as of 7/21/17 ^C	1 yr	3 yr	since inception
Main Street Small Cap Fund® (NAV) As of Quarter end 6/30/2017	3.07%	2.86%	8.15%	22.80%	8.49%	11.22%

	Cumulative				Annualized
	1 mo	3 mo	ytd as of 7/21/17 ^C	1 yr	3 yr	since inception
Main Street Small Cap Fund® (NAV) As of month end 6/30/2017	3.07%	2.86%	8.15%	22.80%	8.49%	11.22%

Gross Expense Ratio: 0.80% | Net Expense Ratio: 0.80%

The performance data quoted represents past performance, which does not guarantee future results. The investments 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 and reinvested distributions. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment.

Calendar Year Returns as of 7/18/2017

as of 7/18/2017

View Table Graph Print

Year	Main Street Small Cap Fund®	Russell 2000 3
2013	0.00%	-
2014	11.84%	4.89%
2015	-5.65%	-4.41%
2016	18.19%	21.31%

Cumulative Returns & Income Dividends

View Table Graph Print

Time Period

YTD

INCEPTION

Date	Main Street Small Cap Fund®	Russell 2000® Index 3	MSCI World 3
6/30/2014	0.00	0.00	0.00
7/31/2014	-4.24	-6.05	-1.60
8/31/2014	1.25	-1.39	0.57
9/30/2014	-4.74	-7.36	-2.16
10/31/2014	2.91	-1.25	-1.52
11/30/2014	4.66	-1.16	0.45
12/31/2014	6.77	1.65	-1.17
1/31/2015	2.60	-1.62	-2.96
2/28/2015	8.94	4.22	2.72
3/31/2015	9.95	6.04	1.12
4/30/2015	6.52	3.33	3.49
5/31/2015	9.19	5.69	3.84
6/30/2015	10.20	6.49	1.43
7/31/2015	8.69	5.25	3.25
8/31/2015	2.43	-1.37	-3.58
9/30/2015	-2.83	-6.21	-7.14
10/31/2015	1.93	-0.92	0.22
11/30/2015	5.02	2.30	-0.28
12/31/2015	0.22	-2.83	-2.03
1/31/2016	-7.15	-11.38	-7.89
2/29/2016	-6.73	-11.38	-8.58
3/31/2016	0.05	-4.31	-2.37
4/30/2016	1.14	-2.81	-0.83
5/31/2016	3.82	-0.62	-0.27
6/30/2016	3.06	-0.68	-1.39
7/31/2016	7.92	5.25	2.78
8/31/2016	8.17	7.11	2.86
9/30/2016	7.75	8.30	3.41
10/31/2016	4.90	3.15	1.41
11/30/2016	14.45	14.66	2.86
12/31/2016	18.01	17.87	5.33
1/31/2017	19.36	18.33	7.87
2/28/2017	22.13	20.62	10.86
3/31/2017	22.63	20.78	12.04
4/30/2017	24.90	22.10	13.70
5/31/2017	22.21	19.62	16.11
6/30/2017	25.99	23.75	16.55

Capital Gains and Distributions ($ per share) as of 7/18/2017

$ per share as of 7/23/2017

Date	2012	2013	2014	2015	2016
Short Term	—	0.0374	0.0415	—	—
Long Term	—	—	—	—	—
Total Amount of Distribution	—	0.0374	0.0415	—	—
Record Date	—	12/11/13	12/10/14	—	—
Ex Div Date	—	12/12/13	12/11/14	—	—
Pay Date	—	12/13/13	12/11/14	—	—

There is no guarantee of the payment of any dividend or other distributions at any level.

Domestic Equity

Main Street Small Cap Fund®

CLASS I: OSSIX

Analytics as of 7/21/2017

Analytics

(As of 6/30/2017)

Morningstar 6/30/2017 (based on risk adjusted performance)

Overall Rating

Number of Funds

646

Top Issuers

4

(33.5% of assets as of 06/30/17)

Domestic Equity

Main Street Small Cap Fund®

CLASS I: OSSIX

Portfolio Holdings Breakdown as of 06/30/17

Portfolio Holdings Breakdown

4

View Table Graph Print

Country ⁴

Developed Markets ⁴

Equity Sector ⁴

Industry ⁴

Asset Allocation ⁴

Market Cap ⁵

Country	Main Street Small Cap Fund®	Russell 2000	Overweight / Underweight
United States	96.9%	99.7%	-2.7%
Bermuda	0.7%	0.1%	0.6%
Canada	0.6%	0.1%	0.5%

Developed Markets	Main Street Small Cap Fund®	Russell 2000	Overweight / Underweight
Americas	98.2%	99.8%	-1.6%

Equity Sector	Main Street Small Cap Fund®	Russell 2000	Overweight / Underweight
Industrials	19.8%	14.6%	5.2%
Information Technology	17.3%	17.1%	0.2%
Financials	17.0%	18.2%	-1.1%
Consumer Discretionary	11.0%	12.5%	-1.4%
Health Care	10.8%	15.0%	-4.2%
Real Estate	6.9%	7.5%	-0.6%
Materials	5.7%	4.4%	1.3%
Energy	3.8%	3.6%	0.2%
Utilities	3.7%	3.7%	0.0%
Consumer Staples	2.2%	2.7%	-0.5%

Industry	Main Street Small Cap Fund®	Russell 2000	Overweight / Underweight
Banks	11.3%	10.5%	0.8%
Software	6.1%	3.6%	2.5%
Equity Real Estate Investment Trusts (REITs)	5.8%	7.0%	-1.2%
Semiconductors & Semiconductor Equipment	4.9%	3.1%	1.8%
Specialty Retail	4.4%	2.1%	2.3%
Professional Services	4.2%	1.3%	2.9%
Health Care Equipment & Supplies	4.0%	3.8%	0.2%
Oil Gas & Consumable Fuels	3.5%	2.1%	1.4%
Internet Software & Services	3.3%	2.9%	0.4%
Commercial Services & Supplies	3.3%	2.5%	0.8%
Machinery	3.1%	3.5%	-0.4%
Pharmaceuticals	2.7%	2.0%	0.7%
Metals & Mining	2.7%	1.3%	1.4%
IT Services	2.5%	2.0%	0.5%
Biotechnology	2.4%	5.4%	-3.0%
Thrifts & Mortgage Finance	2.3%	2.3%	0.0%
Construction & Engineering	2.3%	1.2%	1.1%
Hotels Restaurants & Leisure	1.9%	3.3%	-1.4%
Electric Utilities	1.8%	1.1%	0.7%
Health Care Providers & Services	1.7%	2.1%	-0.4%

Asset Allocation	Main Street Small Cap Fund®	Russell 2000	Overweight / Underweight
Equity	98.2%	100.0%	-1.8%

Market Cap	Main Street Small Cap Fund®	Russell 2000	Overweight / Underweight
Small	87.8%	96.7%	-8.9%
Mid	10.5%	3.3%	7.2%

Meet the Team

Matthew Ziehl, CFA

Portfolio Manager

Matthew Ziehl, CFA, serves as lead portfolio manager of the Small Cap Core strategy and co-portfolio manager of the Mid Cap Core strategy. He is also a sector manager for the REITs, lodging, and business services sectors across all of the Core Equity Team’s strategies. Prior to joining the Firm, Mr. Ziehl managed the RS Small Cap Core Alpha product at RS Investments.

Adam Weiner

Portfolio Manager

Adam Weiner serves as co-portfolio manager of the Small Cap Core strategy. He also serves as sector manager for industrials and materials across all of the Core Equity Team’s strategies. Prior to joining the Firm, Mr. Weiner was a sector manager for industrials and materials at RS Investments. Previously, he was a director and senior equity analyst at Credit Suisse Asset Management.

Raymond Anello, CFA

Portfolio Manager

Raymond Anello, CFA, serves as lead portfolio manager of the Mid Cap Core strategy and is a co-portfolio manager of the Small Cap Core strategy. He is also sector manager for energy and utilities across all of the Core Equity Team’s strategies.

Raman Vardharaj, CFA

Portfolio Manager

Raman Vardharaj, CFA, serves as co-portfolio manager of the Small Cap Core strategy and the Mid Cap Core strategy. He also serves as leader of quantitative research across all of the Core Equity Team’s strategies.

Magnus Krantz

Portfolio Manager

Magnus Krantz serves as co-portfolio manager of the Small Cap Core strategy, Mid Cap Core Strategy and Oppenheimer Main Street All Cap Fund Fund®. He also serves as sector manager for technology across all of the Core Equity Team’s strategies. Prior to joining the Firm, he was a sector manager for technology at RS Investments, which was acquired by Guardian Life Insurance Company.

Kristin Ketner

Portfolio Manager

Kristin Ketner serves as a co-portfolio manager of the Small Cap Core strategy and the Mid Cap Core strategy. She also serves as sector manager for consumer discretionary and consumer staples across all of the Core Equity Team’s strategies.

Joy Budzinski

Portfolio Manager

Joy Budzinski serves as co-portfolio manager of the Small Cap Core strategy, the Mid Cap Core strategy and Oppenheimer Main Street All Cap Fund Fund.® She also serves as sector manager for healthcare across all of the Core Equity Team’s strategies.

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. Diversification does not guarantee profit or protect against loss.
2. The net expense ratio (where applicable) also takes into account contractual fee waivers and/or expense reimbursements without which performance would have been less. These undertakings may not be amended or withdrawn for one year from the date of the current prospectus, unless approved by the Board.
3. Access index definitions.
4. Holdings are subject to change, and are dollar weighted based on total net assets. Negative weightings may result from the use of leverage. Leverage involves the use of various financial instruments or borrowed capital in an attempt to increase investment return. Leverage risks include potential for higher volatility, greater decline of the fund's net asset value and fluctuations of dividends and distributions paid by the fund.
5. 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.
6. For Share Classes with less than a one-year track record, expense ratios are estimated based on the Manager's projections of those expenses for the coming fiscal year.
A. 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. ↩
B. 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. ↩
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. ↩
D. There is no guarantee of the payment of any dividend or other distributions at any level. ↩
E. The performance data quoted represents past performance, which does not guarantee future results. The investment return and principal value of an investments in the Fund will fluctuate so that an investor's shares, when redeemed, may be worth more or less than the originals cost. Current performance and expense ratios may be lower or higher than the data quoted. Fund returns include changes in share price and reinvested distributions. Class Y shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩
F. The performance data quoted represents past performance, which does not guarantee future results. The investments 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 and reinvested distributions. Class I shares are not subject to a sales charge. Returns do not consider capital gains or income taxes on an individual's investment. ↩

Domestic Equity

Main Street Small Cap Fund®

1

Equity

Fixed Income

Alternative

Multi Asset

Smart Beta

Analytics

Top Issuers

4

Korn/Ferry International

Prestige Brands Holdings, Inc.

MB Financial, Inc.

Portland General Electric

On Assignment, Inc.

CACI International Inc.

Brandywine Realty Trust

j2 Global, Inc.

NuVasive, Inc.

Four Corners Property Trust, Inc.

Hostess Brands Inc.

Visteon Corp.

Iberiabank Corp.

Cypress Sharpridge Investments

Webster Financial Corp.

BankUnited, Inc.

Kaiser Aluminum Corp.

ACCO Brands Corp.

Summit Materials, Inc.

Group 1 Automotive, Inc.

Portfolio Holdings Breakdown

4

Matthew Ziehl, CFA

Adam Weiner

Raymond Anello, CFA

Raman Vardharaj, CFA

Magnus Krantz

Kristin Ketner

Joy Budzinski

Mid-Year 2017 Outlook

Domestic Equity

Main Street Small Cap Fund® 1

Equity

Fixed Income

Alternative

Multi Asset

Smart Beta

Analytics

Top Issuers 4

Korn/Ferry International

Prestige Brands Holdings, Inc.

MB Financial, Inc.

Portland General Electric

On Assignment, Inc.

CACI International Inc.

Brandywine Realty Trust

j2 Global, Inc.

NuVasive, Inc.

Four Corners Property Trust, Inc.

Hostess Brands Inc.

Visteon Corp.

Iberiabank Corp.

Cypress Sharpridge Investments

Webster Financial Corp.

BankUnited, Inc.

Kaiser Aluminum Corp.

ACCO Brands Corp.

Summit Materials, Inc.

Group 1 Automotive, Inc.

Portfolio Holdings Breakdown 4

Matthew Ziehl, CFA

Adam Weiner

Raymond Anello, CFA

Raman Vardharaj, CFA

Magnus Krantz

Kristin Ketner

Joy Budzinski

Mid-Year 2017 Outlook

Main Street Small Cap Fund®

1

Top Issuers

4

Portfolio Holdings Breakdown

4