Report 
 
      
Registrant:   Oppenheimer Target Fund — List all N-SARs

Annual Report for the 2nd-half period ended at fiscal year end:  12/31/95

Were there any Answer File errors in the Filing?  None FoundNone Found by SEC InfoNot Checked by the FilerOne or more Found by SEC Info
Was the Answer File completed by the Registrant?  Yes

Is this an Amendment to a previous Report?  No
Is this a change to a previous Report?      No
 
Registrant 
 
 1.
SEC CIK:      319767
SEC File #:   811-03105

Telephone #:  212-323-0200
 
 2.
Address:      Two World Trade Center
              New York, NY  10048
 
 3.
Is this the first Form N-SAR filed by the Registrant?  No
 
 4.
Is this the final Form N-SAR filed by the Registrant?  No
 
 
Funds/Series 
↑Top of Form N-SAR 
     
                                                                               
 7.
Is the Registrant a Funds/Series (multiple portfolios) company?  No
 
Investment Adviser 
 
 8.1
Name:         Oppenheimerfunds, Inc.
Role:         Adviser
SEC File #:   801-08253
Location:     New York, NY
 
Principal Underwriter 
 
11.1
Name:         Oppenheimerfunds Distributor, Inc.
SEC File #:   008-22992
Location:     New York, NY
 
Shareholder Servicing/Transfer Agent 
 
12.1
Name:         Oppenheimerfunds Services
SEC File #:   084-01562
Location:     Denver, CO
 
Custodian 
 
18.
Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4?  Yes
 
Family of Investment Companies 
 
19.
Is the Registrant/Series part of a “family” of investment companies?  Yes

Total number of registered management investment companies, Series
and portfolios (excluding any Unit Investment Trusts) in the family:  42

The Identification Code of the family for Form N-SAR Filings:  OPPENHEIMR
 
Brokerage Commissions Paid on Portfolio Transactions 
 
20.
The brokers who received the largest amount of gross brokerage
commissions during the period:
 
20.1
Broker:       First Chicago Capital Market
IRS #:        36-3595942
Commissions paid ($000s):  7,144
 
20.2
Broker:       Zion First National Bank
IRS #:        87-0189025
Commissions paid ($000s):  1,081
 
20.3
Broker:       First Boston Corp. (The)
IRS #:        13-5659485
Commissions paid ($000s):  413
 
20.4
Broker:       Painewebber, Inc.
IRS #:        13-2638166
Commissions paid ($000s):  185
 
20.5
Broker:       Donaldson, Lufkin & Jenrette Securities Corp.
IRS #:        13-2741729
Commissions paid ($000s):  101
 
20.6
Broker:       Morgan Guaranty Trust Co.
IRS #:        13-5123346
Commissions paid ($000s):  93
 
20.7
Broker:       Merrill Lynch, Pierce, Fenner & Smith, Inc.
IRS #:        13-5674085
Commissions paid ($000s):  56
 
20.8
Broker:       Bear Securities Corp.
IRS #:        13-3299429
Commissions paid ($000s):  55
 
20.9
Broker:       Morgan Stanley & Co., Inc.
IRS #:        13-2655998
Commissions paid ($000s):  49
 
20.10
Broker:       Goldman, Sachs & Co.
IRS #:        13-5108880
Commissions paid ($000s):  44
 
21.
Total brokerage commissions paid by the Registrant during the period:
  Aggregate paid ($000s):  9,990
 
Portfolio Transactions with Entities Acting as Principals 
 
22.
The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
 
22.1
Entity:       Cowen & Co.
IRS #:        13-5616116
Registrant’s purchases ($000s):  89,348
Registrant’s sales ($000s):  6,094
 
22.2
Entity:       Painewebber, Inc.
IRS #:        13-2638166
Registrant’s purchases ($000s):  33,438
Registrant’s sales ($000s):  28,494
 
22.3
Entity:       Brown Brothers Harriman
IRS #:        13-4973745
Registrant’s purchases ($000s):  7,387
Registrant’s sales ($000s):  48,523
 
22.4
Entity:       Donaldson, Lufkin & Jenrette Securities Corp.
IRS #:        13-2741729
Registrant’s purchases ($000s):  21,179
Registrant’s sales ($000s):  18,054
 
22.5
Entity:       First Boston Corp. (The)
IRS #:        13-5659485
Registrant’s purchases ($000s):  30,875
Registrant’s sales ($000s):  7,099
 
22.6
Entity:       Bear Securities Corp.
IRS #:        13-3299429
Registrant’s purchases ($000s):  15,892
Registrant’s sales ($000s):  7,891
 
22.7
Entity:       Merrill Lynch, Pierce, Fenner & Smith, Inc.
IRS #:        13-5674085
Registrant’s purchases ($000s):  7,461
Registrant’s sales ($000s):  14,214
 
22.8
Entity:       Bernstein (Sanford C.) & Co., Inc.
IRS #:        13-2625874
Registrant’s purchases ($000s):  13,541
Registrant’s sales ($000s):  7,001
 
22.9
Entity:       Bridge Trading Co.
IRS #:        43-1450530
Registrant’s purchases ($000s):  10,707
Registrant’s sales ($000s):  8,419
 
22.10
Entity:       Allen & Co., Inc.
IRS #:        13-6176976
Registrant’s purchases ($000s):  8,875
Registrant’s sales ($000s):  9,228
 
23.
Total purchase/sale transactions by the Registrant during the period:
   Aggregate purchases ($000s):  344,952
   Aggregate sales ($000s):  295,720
 
Sales and Repurchases 
 
28.
Monthly total Net Asset Value (NAV) of sales and repurchases of the
Registrant’s/Series’ shares:
 
1st Month of period:  ($000s)
    Total NAV of shares sold:
      New sales (including exchanges) ............................
 7,992
      Reinvestment of dividends and distributions ................
 -1
      Other ......................................................
 –
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
 12,061
2nd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
 5,951
      Reinvestment of dividends and distributions ................
 –
      Other ......................................................
 –
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
 9,024
3rd Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
 7,233
      Reinvestment of dividends and distributions ................
 –
      Other ......................................................
 –
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
 6,051
4th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
 4,242
      Reinvestment of dividends and distributions ................
 –
      Other ......................................................
 –
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
 10,126
5th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
 21,498
      Reinvestment of dividends and distributions ................
 –
      Other ......................................................
 –
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
 5,447
6th Month:
    Total NAV of shares sold:
      New sales (including exchanges) ............................
 17,395
      Reinvestment of dividends and distributions ................
 72,175
      Other ......................................................
 –
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
 8,457

Total of all months:  ($000s)
    Total NAV of shares sold:
      New sales (including exchanges) ............................
 64,311
      Reinvestment of dividends and distributions ................
 72,174
      Other ......................................................
 –
    Total NAV of shares redeemed & repurchased (inc. exchanges) ..
 51,166

Total NAV of the Registrant’s/Series’ share sales during the period
subject to a sales load ($000s):  12,867
 
Sales Load (Front-End or Deferred) and Fees (Redemption or Maintenance) 
 
29.
Was a front-end sales load deducted from any share sales during the
period?  Yes
 
30.
Total front-end sales loads collected from sales (including exchanges)
by Principal Underwriter or by any underwriter which is an affiliated
person of the Principal Underwriter, of the Registrant’s/Series’ shares
during the period ($000s):  594

The maximum sales load rate in effect at period end as a percentage of
the offering price:  5.75%
The minimum sales load rate in effect at period end as a percentage of
the offering price:  0.0%
 
31.
Net amount retained by the Registrant’s/Series’ Principal Underwriter or
by any underwriter or dealer which is an affiliated person of the
Principal Underwriter thereof from front-end sales loads collected from
sales of the Registrant’s/Series’ shares during the period ($000s):  191

Amount by which payout by the Registrant’s/Series’ Principal Underwriter
or by any underwriter which is an affiliated person of the Principal
Underwriter thereof to persons or entities selling the
Registrant’s/Series’ shares exceeded that reported in Item 30 ($000s):  0
 
32.
Amount the Registrant’s/Series’ Principal Underwriter and any
underwriters or dealers which are affiliated persons of the Principal
Underwriter paid to dealers which are not affiliated persons of the
Principal Underwriter for selling the Registrant’s/Series’ shares that
were sold with a front-end sales load during the period ($000s):  403
 
33.
Amount paid to a captive retail sales force of the Registrant’s/Series’
Principal Underwriter or of any underwriter or dealer which is an
affiliated person of the Principal Underwriter for selling the
Registrant’s shares that were sold with a front-end sales load during
the period ($000s):  0
 
34.
Did the Registrant/Series impose a deferred or contingent deferred sales
load during the period?  Yes
 
35.
Total deferred or contingent deferred sales loads collected during the
period from redemptions and repurchases of the Registrant’s/Series’
shares ($000s):  3
 
36.
Did the Registrant/Series retain all monies collected from the deferred
or contingent deferred sales loads during the period?  No

The net amount the Registrant/Series retained from deferred or
contingent deferred sales loads ($000s):  0
 
Payment Plan for the Distribution of Fund Shares 
 
42.
For the period, the percentage of total dollars paid directly by the
Registrant/Series under the 12b-1 plan for each of the following:

Percentage of Total Amount Paid  (%)
Advertising ............................................................
 –
Printing & mailing of prospectuses to other than current shareholders ..
 –
Payments to underwriters ...............................................
 –
Payments to brokers or dealers .........................................
 100
Direct payments to sales personnel .....................................
 –
Payments to banks and savings & loans ..................................
 –
Other uses, including payments to its Investment Adviser separate
  from the advisory fee ................................................
 –
Unallocated payments made for a combination of such services ...........
 –
 
43.
Total amount paid directly by the Registrant/Series pursuant to its
12b-1 plan ($000s):  878
 
44.
If an Investment Adviser or other affiliated person of the
Registrant/Series made unreimbursed payments pursuant to the 12b-1 plan,
the total amount of such payments ($000s):  0
 
Classification and Asset Allocation 
 
62.
Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities?  No
 
Investment Practices 
 
70.
Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity                                            Permitted Engaged In
Writing or investing in repurchase agreements?           Yes to both
Writing or investing in options on equities?             Yes      No
Writing or investing in options on debt securities?      Yes      No
Writing or investing in options on stock indices?        Yes      No
Writing or investing in interest rate futures?           No        –
Writing or investing in stock index futures?             Yes      No
Writing or investing in options on futures?              No        –
Writing or investing in options on stock index futures?  Yes      No
Writing or investing in other commodity futures?         No        –
Investments in restricted securities?                    Yes      No
Investments in shares of other investment companies?     Yes      No
Investments in securities of foreign issuers?            Yes to both
Currency exchange transactions?                          No        –
Loaning portfolio securities?                            Yes      No
Borrowing of money?                                      Yes      No
Purchases/sales by certain exempted affiliated persons?  Yes to both
Margin purchases?                                        No        –
Short selling?                                           No        –
 
Portfolio Turnover 
 
71.
Portfolio turnover rate for the period:
 
Purchases ($000s):  311,600
Sales ($000s):      293,870

Monthly average Value of portfolio ($000s):  408,596

Percent turnover (lesser of Purchases or Sales, divided by Value):  72%
 
Financial Info — Income and Expenses 
 
72.
The number of months covered by the values in Items 72 and 73:  12

Income  ($000s)
Net interest income ..............................................
 6,741
Net dividend income ..............................................
 4,680
Account maintenance fees .........................................
 –
Net other income .................................................
 –

Expenses  ($000s)
Advisory fees ....................................................
 3,883
Administrator fees ...............................................
 –
Salaries and other compensation ..................................
 –
Shareholder Servicing Agent fees .................................
 569
Custodian fees ...................................................
 41
Postage ..........................................................
 8
Printing expenses ................................................
 124
Directors’ fees ..................................................
 –
Registration fees ................................................
 3
Taxes ............................................................
 –
Interest .........................................................
 –
Bookkeeping fees paid to anyone performing this service ..........
 –
Auditing fees ....................................................
 25
Legal fees .......................................................
 43
Marketing/distribution payments, incl. Rule 12b-1 plan payments ..
 878
Amortization of organization expenses ............................
 –
Shareholder meeting expenses .....................................
 –
Other expenses ...................................................
 43
Total expenses ...................................................
 5,617

Expense reimbursements ($000s):   0

Net investment income ($000s):    5,804

Realized capital gains ($000s):   85,162
Realized capital losses ($000s):  13,962

Net unrealized appreciation during the period ($000s):  58,150
Net unrealized depreciation during the period ($000s):  0

Total income dividends for which the record date passed during the
period ($000s):  5,896
Dividends for a second class of shares ($000s):  9

Total capital gains distributions for which the record date passed
during the period ($000s):  70,002
 
73.
Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income:    $0.2383
Dividends for a second class of shares:  $0.2412

Distribution of capital gains:  $2.8027
Other distributions:            $0.0000
 
Financial Info — Condensed Balance Sheet Data 
 
74.
Assets  ($000s)
Cash .............................................................
 66
Repurchase agreements ............................................
 145,020
Short-term debt securities, other than repurchase agreements .....
 –
Long-term debt securities, including convertible debt ............
 5,506
Preferred, conv. preferred and adjustable-rate preferred stock ...
 –
Common stock .....................................................
 620,673
Options on equities ..............................................
 –
Options on all futures ...........................................
 –
Other investments ................................................
 –
Receivables from portfolio instruments sold ......................
 3,207
Receivables from affiliated persons ..............................
 –
Other receivables ................................................
 2,029
All other assets .................................................
 211
Total assets .....................................................
 776,712

Liabilities  ($000s)
Payables for portfolio instruments purchased .....................
 5,356
Amounts owed to affiliated persons ...............................
 222
Senior long-term debt ............................................
 –
Other liabilities:
  Reverse repurchase agreements ..................................
 –
  Short sales ....................................................
 –
  Written options ................................................
 –
  All other liabilities ..........................................
 2,707

Equity  ($000s)
Senior equity ....................................................
 –
Net assets of common shareholders ................................
 768,427

Number of shares outstanding (000s):   27,639
Number of shares outstanding of a second class of shares (000s):  101

Net Asset Value (NAV) per share (to nearest cent):  $27.44
NAV per share of a second class of shares (to nearest cent):  $27.37

Total number of shareholder accounts:  61,749

Total value of assets in segregated accounts ($000s):  0
 
75.
Monthly average net assets during the period ($000s):  542,663
 
Additional Disclosures 
 
77.
Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
↑Exhibits in this Filing — or separately and incorporated by reference)?  Yes

EX-99.77B:  Accountant’s Report re: Internal Controls?  Yes

EX-99.77J:  Revaluation of Assets or Restatement of Capital Shares Acct?  Yes

EX-99.77Q1: Other Disclosure?  Yes
 
Subsidiaries 
 
78.
Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report?  No
 
Fidelity Bond in Effect at Fiscal Year End 
 
80.
Insurer:      Ici Mutual Insurance Co.

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s):  60,000
 
81.
Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities?  Yes

How many other investment companies or other entities are covered by the
bond (counting each Fund/Series as a separate investment company):  74
 
82.
Does the mandatory coverage of the fidelity bond have a deductible?  No
 
83.
Were any claims with respect to this Registrant/Series filed under the
bond during the period?  No
 
84.
Were any losses incurred with respect to this Registrant/Series that
could have been filed as a claim under the fidelity bond but were not?  No
 
85.
Are the Registrant’s/Series’ Officers and Directors covered as Officers
and Directors of the Registrant/Series under any errors and omissions
insurance policy owned by the Registrant/Series or anyone else?  Yes

Were any claims filed under such policy during the period with respect
to the Registrant/Series?  No
 
 Signature 
 
↑Top of Form N-SAR 
     
                                                                               
/s/      George C. Bowen      
Name:   George C. Bowen
Title:  Treasurer