OPPENHEIMER GROWTH FUND
NSAR-B, 1997-10-24
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020 C000002     51
020 A000003 SALOMON BROTHERS, INC.
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020 C000003     48
020 A000004 BRIDGE TRADING CO.
020 B000004 43-1450530
020 C000004     43
020 A000005 ROBINSON-HUMPHREY CO., INC. (THE)
020 B000005 58-1472560
020 C000005     37
020 A000006 EDWARDS (A.G.) & SONS, INC.
020 B000006 43-0895447
020 C000006     36
020 A000007 FURMAN SELZ, INC.
020 B000007 13-2753731
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020 A000008 MORGAN STANLEY & CO., INC.
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<PAGE>      PAGE  2
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022 C000004    449676
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022 B000005 13-2518466
022 C000005    397678
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022 B000006 22-2596731
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022 C000009     55442
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SIGNATURE   GEORGE C. BOWEN                              
TITLE       TREASURER           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>            74676
<NAME>           OPPENHEIMER GROWTH FUND-A
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           12-MOS
<FISCAL-YEAR-END>                                                       AUG-31-1997
<PERIOD-START>                                                          SEP-01-1996
<PERIOD-END>                                                            AUG-31-1997
<INVESTMENTS-AT-COST>                                                               1,439,937,005
<INVESTMENTS-AT-VALUE>                                                              2,005,992,529
<RECEIVABLES>                                                                           4,966,786
<ASSETS-OTHER>                                                                             13,384
<OTHER-ITEMS-ASSETS>                                                                            0
<TOTAL-ASSETS>                                                                      2,010,972,699
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              10,994,297
<TOTAL-LIABILITIES>                                                                    10,994,297
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            1,235,455,207
<SHARES-COMMON-STOCK>                                                                  39,363,513
<SHARES-COMMON-PRIOR>                                                                  33,479,487
<ACCUMULATED-NII-CURRENT>                                                              19,430,107
<OVERDISTRIBUTION-NII>                                                                          0
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<OVERDISTRIBUTION-GAINS>                                                                        0
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<NET-ASSETS>                                                                        1,590,926,859
<DIVIDEND-INCOME>                                                                       9,767,297
<INTEREST-INCOME>                                                                      35,618,247
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         18,320,349
<NET-INVESTMENT-INCOME>                                                                27,065,195
<REALIZED-GAINS-CURRENT>                                                              218,881,619
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<EQUALIZATION>                                                                                  0
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<PER-SHARE-NAV-BEGIN>                                                                          33.69
<PER-SHARE-NII>                                                                                 0.62
<PER-SHARE-GAIN-APPREC>                                                                        10.37
<PER-SHARE-DIVIDEND>                                                                            0.49
<PER-SHARE-DISTRIBUTIONS>                                                                       3.77
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            40.42
<EXPENSE-RATIO>                                                                                 1.01
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>            74676
<NAME>           OPPENHEIMER GROWTH FUND-B
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           12-MOS
<FISCAL-YEAR-END>                                                       AUG-31-1997
<PERIOD-START>                                                          SEP-01-1996
<PERIOD-END>                                                            AUG-31-1997
<INVESTMENTS-AT-COST>                                                               1,439,937,005
<INVESTMENTS-AT-VALUE>                                                              2,005,992,529
<RECEIVABLES>                                                                           4,966,786
<ASSETS-OTHER>                                                                             13,384
<OTHER-ITEMS-ASSETS>                                                                            0
<TOTAL-ASSETS>                                                                      2,010,972,699
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
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<SENIOR-EQUITY>                                                                                 0
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<OVERDISTRIBUTION-NII>                                                                          0
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<OVERDISTRIBUTION-GAINS>                                                                        0
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<NET-ASSETS>                                                                          284,227,458
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<INTEREST-INCOME>                                                                      35,618,247
<OTHER-INCOME>                                                                                  0
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<NET-INVESTMENT-INCOME>                                                                27,065,195
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<EQUALIZATION>                                                                                  0
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<PER-SHARE-NII>                                                                                 0.36
<PER-SHARE-GAIN-APPREC>                                                                        10.08
<PER-SHARE-DIVIDEND>                                                                            0.27
<PER-SHARE-DISTRIBUTIONS>                                                                       3.77
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            39.34
<EXPENSE-RATIO>                                                                                 1.84
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>            74676
<NAME>           OPPENHEIMER GROWTH FUND-C
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           12-MOS
<FISCAL-YEAR-END>                                                       AUG-31-1997
<PERIOD-START>                                                          SEP-01-1996
<PERIOD-END>                                                            AUG-31-1997
<INVESTMENTS-AT-COST>                                                               1,439,937,005
<INVESTMENTS-AT-VALUE>                                                              2,005,992,529
<RECEIVABLES>                                                                           4,966,786
<ASSETS-OTHER>                                                                             13,384
<OTHER-ITEMS-ASSETS>                                                                            0
<TOTAL-ASSETS>                                                                      2,010,972,699
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                              10,994,297
<TOTAL-LIABILITIES>                                                                    10,994,297
<SENIOR-EQUITY>                                                                                 0
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<SHARES-COMMON-STOCK>                                                                     705,980
<SHARES-COMMON-PRIOR>                                                                     150,647
<ACCUMULATED-NII-CURRENT>                                                              19,430,107
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                               179,037,564
<OVERDISTRIBUTION-GAINS>                                                                        0
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<NET-ASSETS>                                                                           28,145,301
<DIVIDEND-INCOME>                                                                       9,767,297
<INTEREST-INCOME>                                                                      35,618,247
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         18,320,349
<NET-INVESTMENT-INCOME>                                                                27,065,195
<REALIZED-GAINS-CURRENT>                                                              218,881,619
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<EQUALIZATION>                                                                                  0
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<GROSS-EXPENSE>                                                                        18,362,480
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<PER-SHARE-NAV-BEGIN>                                                                          33.42
<PER-SHARE-NII>                                                                                 0.42
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<PER-SHARE-DIVIDEND>                                                                            0.37
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<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            39.87
<EXPENSE-RATIO>                                                                                 1.84
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                       
<CIK>            74676
<NAME>           OPPENHEIMER GROWTH FUND-Y
       
<S>                                                                     <C>
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<FISCAL-YEAR-END>                                                       AUG-31-1997
<PERIOD-START>                                                          SEP-01-1996
<PERIOD-END>                                                            AUG-31-1997
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<INVESTMENTS-AT-VALUE>                                                              2,005,992,529
<RECEIVABLES>                                                                           4,966,786
<ASSETS-OTHER>                                                                             13,384
<OTHER-ITEMS-ASSETS>                                                                            0
<TOTAL-ASSETS>                                                                      2,010,972,699
<PAYABLE-FOR-SECURITIES>                                                                        0
<SENIOR-LONG-TERM-DEBT>                                                                         0
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<TOTAL-LIABILITIES>                                                                    10,994,297
<SENIOR-EQUITY>                                                                                 0
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<SHARES-COMMON-PRIOR>                                                                     549,005
<ACCUMULATED-NII-CURRENT>                                                              19,430,107
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                               179,037,564
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                              566,055,524
<NET-ASSETS>                                                                           96,678,784
<DIVIDEND-INCOME>                                                                       9,767,297
<INTEREST-INCOME>                                                                      35,618,247
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                         18,320,349
<NET-INVESTMENT-INCOME>                                                                27,065,195
<REALIZED-GAINS-CURRENT>                                                              218,881,619
<APPREC-INCREASE-CURRENT>                                                             238,043,222
<NET-CHANGE-FROM-OPS>                                                                 483,990,036
<EQUALIZATION>                                                                                  0
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<DISTRIBUTIONS-OF-GAINS>                                                                4,909,715
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<NUMBER-OF-SHARES-REDEEMED>                                                               376,914
<SHARES-REINVESTED>                                                                       166,588
<NET-CHANGE-IN-ASSETS>                                                                711,174,134
<ACCUMULATED-NII-PRIOR>                                                                11,195,907
<ACCUMULATED-GAINS-PRIOR>                                                             111,271,666
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                  10,710,424
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                        18,362,480
<AVERAGE-NET-ASSETS>                                                                   62,619,000
<PER-SHARE-NAV-BEGIN>                                                                          33.69
<PER-SHARE-NII>                                                                                 0.66
<PER-SHARE-GAIN-APPREC>                                                                        10.42
<PER-SHARE-DIVIDEND>                                                                            0.57
<PER-SHARE-DISTRIBUTIONS>                                                                       3.77
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            40.43
<EXPENSE-RATIO>                                                                                 0.77
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<PAGE>

THE BOARD OF TRUSTEES AND SHAREHOLDERS OF
OPPENHEIMER GROWTH FUND:


In planning and performing our audit of the financial statements of Oppenheimer
Growth Fund for the year ended August 31, 1997, we considered its internal
control structure, including procedures for safeguarding securities, in order to
determine our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form N-SAR, not
to provide assurance on the internal control structure.

The management of Oppenheimer Growth Fund is responsible for establishing and
maintaining an internal control structure. In fulfilling this responsibility,
estimates and judgments by management are required to assess the expected
benefits and related costs of internal control structure policies and
procedures. Two of the objectives of an internal control structure are to
provide management with reasonable, but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.

Because of inherent limitations in any internal control structure, errors or
irregularities may occur and may not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the effectiveness of
the design and operation may deteriorate.

Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we considered to be material weaknesses as defined above as of
August 31, 1997.

This report is intended solely for the information and use of management and the
Securities and Exchange Commission and should not be used for any other purpose.




                                                     /s/KPMG PEAT MARWICK

                                                     KPMG PEAT MARWICK LLP


Denver, Colorado
September 22, 1997



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