OPPENHEIMER CHAMPION HIGH YIELD FUND
NSAR-A, 1996-05-24
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000 A000000 03/31/96
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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>            820120                                      
<NAME> Oppenheimer Champion Income Fund-A Shares
       
<S>                                                         <C>
<PERIOD-TYPE>                                               6-mos
<FISCAL-YEAR-END>                                           Sep-30-1996
<PERIOD-START>                                              Oct-01-1995
<PERIOD-END>                                                Mar-31-1996
<INVESTMENTS-AT-COST>                                           411,201,911
<INVESTMENTS-AT-VALUE>                                          419,957,831
<RECEIVABLES>                                                    14,659,317
<ASSETS-OTHER>                                                       14,370
<OTHER-ITEMS-ASSETS>                                                185,604
<TOTAL-ASSETS>                                                  434,817,122
<PAYABLE-FOR-SECURITIES>                                          6,444,204
<SENIOR-LONG-TERM-DEBT>                                                   0
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<TOTAL-LIABILITIES>                                               8,940,812
<SENIOR-EQUITY>                                                           0
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<SHARES-COMMON-PRIOR>                                            20,463,959
<ACCUMULATED-NII-CURRENT>                                            83,753
<OVERDISTRIBUTION-NII>                                                    0
<ACCUMULATED-NET-GAINS>                                            (945,431)
<OVERDISTRIBUTION-GAINS>                                                  0
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<NET-ASSETS>                                                    306,865,260
<DIVIDEND-INCOME>                                                   179,276
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<OTHER-INCOME>                                                            0
<EXPENSES-NET>                                                    2,542,646
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<EQUALIZATION>                                                            0
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<AVG-DEBT-OUTSTANDING>                                                    0
<AVG-DEBT-PER-SHARE>                                                      0.00
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6                                                  
<CIK>  820120
<NAME> Oppenheimer Champion Income Fund-B Shares
       
<S>                                                         <C>
<PERIOD-TYPE>                                               6-mos
<FISCAL-YEAR-END>                                           Sep-30-1996
<PERIOD-START>                                              Oct-02-1995
<PERIOD-END>                                                Mar-31-1996
<INVESTMENTS-AT-COST>                                           411,201,911
<INVESTMENTS-AT-VALUE>                                          419,957,831
<RECEIVABLES>                                                    14,659,317
<ASSETS-OTHER>                                                       14,370
<OTHER-ITEMS-ASSETS>                                                185,604
<TOTAL-ASSETS>                                                  434,817,122
<PAYABLE-FOR-SECURITIES>                                          6,444,204
<SENIOR-LONG-TERM-DEBT>                                                   0
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<SENIOR-EQUITY>                                                           0
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<SHARES-COMMON-PRIOR>                                                     0
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<INTEREST-INCOME>                                                18,799,792
<OTHER-INCOME>                                                            0
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<ACCUMULATED-GAINS-PRIOR>                                        (4,005,696)
<OVERDISTRIB-NII-PRIOR>                                                   0
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<INTEREST-EXPENSE>                                                        0
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<PER-SHARE-NAV-BEGIN>                                                    12.47
<PER-SHARE-NII>                                                           0.51
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<PER-SHARE-DISTRIBUTIONS>                                                 0.00
<RETURNS-OF-CAPITAL>                                                      0.00
<PER-SHARE-NAV-END>                                                      12.74
<EXPENSE-RATIO>                                                           2.05
<AVG-DEBT-OUTSTANDING>                                                    0
<AVG-DEBT-PER-SHARE>                                                      0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                                                  
<CIK>       820120
<NAME> Oppenheimer Champion Income Fund-C Shares
       
<S>                                                         <C>
<PERIOD-TYPE>                                               6-mos
<FISCAL-YEAR-END>                                           Sep-30-1996
<PERIOD-START>                                              Oct-01-1995
<PERIOD-END>                                                Mar-31-1996
<INVESTMENTS-AT-COST>                                           411,201,911
<INVESTMENTS-AT-VALUE>                                          419,957,831
<RECEIVABLES>                                                    14,659,317
<ASSETS-OTHER>                                                       14,370
<OTHER-ITEMS-ASSETS>                                                185,604
<TOTAL-ASSETS>                                                  434,817,122
<PAYABLE-FOR-SECURITIES>                                          6,444,204
<SENIOR-LONG-TERM-DEBT>                                                   0
<OTHER-ITEMS-LIABILITIES>                                         2,496,608
<TOTAL-LIABILITIES>                                               8,940,812
<SENIOR-EQUITY>                                                           0
<PAID-IN-CAPITAL-COMMON>                                        417,940,017
<SHARES-COMMON-STOCK>                                             7,036,129
<SHARES-COMMON-PRIOR>                                             5,211,966
<ACCUMULATED-NII-CURRENT>                                            83,753
<OVERDISTRIBUTION-NII>                                                    0
<ACCUMULATED-NET-GAINS>                                            (945,431)
<OVERDISTRIBUTION-GAINS>                                                  0
<ACCUM-APPREC-OR-DEPREC>                                          8,797,971
<NET-ASSETS>                                                     89,604,320
<DIVIDEND-INCOME>                                                   179,276
<INTEREST-INCOME>                                                18,799,792
<OTHER-INCOME>                                                            0
<EXPENSES-NET>                                                    2,542,646
<NET-INVESTMENT-INCOME>                                          16,436,422
<REALIZED-GAINS-CURRENT>                                          3,060,265
<APPREC-INCREASE-CURRENT>                                         4,467,898
<NET-CHANGE-FROM-OPS>                                            23,964,585
<EQUALIZATION>                                                            0
<DISTRIBUTIONS-OF-INCOME>                                         3,244,147
<DISTRIBUTIONS-OF-GAINS>                                                  0
<DISTRIBUTIONS-OTHER>                                                     0
<NUMBER-OF-SHARES-SOLD>                                           2,252,525
<NUMBER-OF-SHARES-REDEEMED>                                         604,549
<SHARES-REINVESTED>                                                 176,187
<NET-CHANGE-IN-ASSETS>                                          105,806,063
<ACCUMULATED-NII-PRIOR>                                              83,753
<ACCUMULATED-GAINS-PRIOR>                                        (4,005,696)
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<INTEREST-EXPENSE>                                                        0
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<PER-SHARE-NAV-BEGIN>                                                    12.46
<PER-SHARE-NII>                                                           0.53
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</TABLE>


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