OPPENHEIMER CHAMPION HIGH YIELD FUND
NSAR-A, 1998-05-29
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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
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1998
<PERIOD-START>                                                          OCT-01-1997
<PERIOD-END>                                                            MAR-31-1998
<INVESTMENTS-AT-COST>                                                               1,073,752,643
<INVESTMENTS-AT-VALUE>                                                              1,122,000,524
<RECEIVABLES>                                                                          43,527,274
<ASSETS-OTHER>                                                                              7,870
<OTHER-ITEMS-ASSETS>                                                                      128,968
<TOTAL-ASSETS>                                                                      1,165,664,636
<PAYABLE-FOR-SECURITIES>                                                               25,612,255
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               8,052,269
<TOTAL-LIABILITIES>                                                                    33,664,524
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            1,074,511,853
<SHARES-COMMON-STOCK>                                                                  42,792,454
<SHARES-COMMON-PRIOR>                                                                  37,214,869
<ACCUMULATED-NII-CURRENT>                                                                  27,638
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                 9,687,632
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               47,772,989
<NET-ASSETS>                                                                          581,514,328
<DIVIDEND-INCOME>                                                                       1,836,837
<INTEREST-INCOME>                                                                      45,311,292
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          7,279,981
<NET-INVESTMENT-INCOME>                                                                39,868,148
<REALIZED-GAINS-CURRENT>                                                               12,797,923
<APPREC-INCREASE-CURRENT>                                                              10,897,788
<NET-CHANGE-FROM-OPS>                                                                  63,563,859
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                              22,244,837
<DISTRIBUTIONS-OF-GAINS>                                                                8,100,044
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                 9,558,642
<NUMBER-OF-SHARES-REDEEMED>                                                             5,543,980
<SHARES-REINVESTED>                                                                     1,562,923
<NET-CHANGE-IN-ASSETS>                                                                210,259,307
<ACCUMULATED-NII-PRIOR>                                                                   175,879
<ACCUMULATED-GAINS-PRIOR>                                                              12,115,500
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   3,221,951
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         7,279,981
<AVERAGE-NET-ASSETS>                                                                  540,463,034
<PER-SHARE-NAV-BEGIN>                                                                          13.49
<PER-SHARE-NII>                                                                                 0.55
<PER-SHARE-GAIN-APPREC>                                                                         0.30
<PER-SHARE-DIVIDEND>                                                                            0.55
<PER-SHARE-DISTRIBUTIONS>                                                                       0.20
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            13.59
<EXPENSE-RATIO>                                                                                 1.08
<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
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1998
<PERIOD-START>                                                          OCT-01-1997
<PERIOD-END>                                                            MAR-31-1998
<INVESTMENTS-AT-COST>                                                               1,073,752,643
<INVESTMENTS-AT-VALUE>                                                              1,122,000,524
<RECEIVABLES>                                                                          43,527,274
<ASSETS-OTHER>                                                                              7,870
<OTHER-ITEMS-ASSETS>                                                                      128,968
<TOTAL-ASSETS>                                                                      1,165,664,636
<PAYABLE-FOR-SECURITIES>                                                               25,612,255
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               8,052,269
<TOTAL-LIABILITIES>                                                                    33,664,524
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            1,074,511,853
<SHARES-COMMON-STOCK>                                                                  24,606,648
<SHARES-COMMON-PRIOR>                                                                  17,691,067
<ACCUMULATED-NII-CURRENT>                                                                  27,638
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                 9,687,632
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               47,772,989
<NET-ASSETS>                                                                          334,095,910
<DIVIDEND-INCOME>                                                                       1,836,837
<INTEREST-INCOME>                                                                      45,311,292
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          7,279,981
<NET-INVESTMENT-INCOME>                                                                39,868,148
<REALIZED-GAINS-CURRENT>                                                               12,797,923
<APPREC-INCREASE-CURRENT>                                                              10,897,788
<NET-CHANGE-FROM-OPS>                                                                  63,563,859
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                              10,508,825
<DISTRIBUTIONS-OF-GAINS>                                                                4,232,563
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                 7,707,735
<NUMBER-OF-SHARES-REDEEMED>                                                             1,484,092
<SHARES-REINVESTED>                                                                       691,938
<NET-CHANGE-IN-ASSETS>                                                                210,259,307
<ACCUMULATED-NII-PRIOR>                                                                   175,879
<ACCUMULATED-GAINS-PRIOR>                                                              12,115,500
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   3,221,951
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         7,279,981
<AVERAGE-NET-ASSETS>                                                                  282,417,201
<PER-SHARE-NAV-BEGIN>                                                                          13.48
<PER-SHARE-NII>                                                                                 0.50
<PER-SHARE-GAIN-APPREC>                                                                         0.30
<PER-SHARE-DIVIDEND>                                                                            0.50
<PER-SHARE-DISTRIBUTIONS>                                                                       0.20
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            13.58
<EXPENSE-RATIO>                                                                                 1.83
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6                        
<CIK>            820120
<NAME>           OPPENHEIMER CHAMPION INCOME FUND-- C
       
<S>                                                                     <C>
<PERIOD-TYPE>                                                           6-MOS
<FISCAL-YEAR-END>                                                       SEP-30-1998
<PERIOD-START>                                                          OCT-01-1997
<PERIOD-END>                                                            MAR-31-1998
<INVESTMENTS-AT-COST>                                                               1,073,752,643
<INVESTMENTS-AT-VALUE>                                                              1,122,000,524
<RECEIVABLES>                                                                          43,527,274
<ASSETS-OTHER>                                                                              7,870
<OTHER-ITEMS-ASSETS>                                                                      128,968
<TOTAL-ASSETS>                                                                      1,165,664,636
<PAYABLE-FOR-SECURITIES>                                                               25,612,255
<SENIOR-LONG-TERM-DEBT>                                                                         0
<OTHER-ITEMS-LIABILITIES>                                                               8,052,269
<TOTAL-LIABILITIES>                                                                    33,664,524
<SENIOR-EQUITY>                                                                                 0
<PAID-IN-CAPITAL-COMMON>                                                            1,074,511,853
<SHARES-COMMON-STOCK>                                                                  15,936,183
<SHARES-COMMON-PRIOR>                                                                  13,427,703
<ACCUMULATED-NII-CURRENT>                                                                  27,638
<OVERDISTRIBUTION-NII>                                                                          0
<ACCUMULATED-NET-GAINS>                                                                 9,687,632
<OVERDISTRIBUTION-GAINS>                                                                        0
<ACCUM-APPREC-OR-DEPREC>                                                               47,772,989
<NET-ASSETS>                                                                          216,389,874
<DIVIDEND-INCOME>                                                                       1,836,837
<INTEREST-INCOME>                                                                      45,311,292
<OTHER-INCOME>                                                                                  0
<EXPENSES-NET>                                                                          7,279,981
<NET-INVESTMENT-INCOME>                                                                39,868,148
<REALIZED-GAINS-CURRENT>                                                               12,797,923
<APPREC-INCREASE-CURRENT>                                                              10,897,788
<NET-CHANGE-FROM-OPS>                                                                  63,563,859
<EQUALIZATION>                                                                                  0
<DISTRIBUTIONS-OF-INCOME>                                                               7,262,727
<DISTRIBUTIONS-OF-GAINS>                                                                2,893,184
<DISTRIBUTIONS-OTHER>                                                                           0
<NUMBER-OF-SHARES-SOLD>                                                                 3,686,690
<NUMBER-OF-SHARES-REDEEMED>                                                             1,736,209
<SHARES-REINVESTED>                                                                       557,999
<NET-CHANGE-IN-ASSETS>                                                                210,259,307
<ACCUMULATED-NII-PRIOR>                                                                   175,879
<ACCUMULATED-GAINS-PRIOR>                                                              12,115,500
<OVERDISTRIB-NII-PRIOR>                                                                         0
<OVERDIST-NET-GAINS-PRIOR>                                                                      0
<GROSS-ADVISORY-FEES>                                                                   3,221,951
<INTEREST-EXPENSE>                                                                              0
<GROSS-EXPENSE>                                                                         7,279,981
<AVERAGE-NET-ASSETS>                                                                  195,581,997
<PER-SHARE-NAV-BEGIN>                                                                          13.48
<PER-SHARE-NII>                                                                                 0.50
<PER-SHARE-GAIN-APPREC>                                                                         0.30
<PER-SHARE-DIVIDEND>                                                                            0.50
<PER-SHARE-DISTRIBUTIONS>                                                                       0.20
<RETURNS-OF-CAPITAL>                                                                            0.00
<PER-SHARE-NAV-END>                                                                            13.58
<EXPENSE-RATIO>                                                                                 1.83
<AVG-DEBT-OUTSTANDING>                                                                          0
<AVG-DEBT-PER-SHARE>                                                                            0.00
        

</TABLE>


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