<SEC-DOCUMENT>0000791963-11-000005.txt : 20110628
<SEC-HEADER>0000791963-11-000005.hdr.sgml : 20110628
<ACCEPTANCE-DATETIME>20110628101932
ACCESSION NUMBER:		0000791963-11-000005
CONFORMED SUBMISSION TYPE:	11-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20101231
FILED AS OF DATE:		20110628
DATE AS OF CHANGE:		20110628

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			OPPENHEIMER HOLDINGS INC
		CENTRAL INDEX KEY:			0000791963
		STANDARD INDUSTRIAL CLASSIFICATION:	SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211]
		IRS NUMBER:				980080034
		STATE OF INCORPORATION:			A6
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		11-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-12043
		FILM NUMBER:		11934618

	BUSINESS ADDRESS:	
		STREET 1:		SUITE 1110, P.O. BOX 2015
		STREET 2:		20 EGLINTON AVE. WEST
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4R 1K8
		BUSINESS PHONE:		(416)322-1515

	MAIL ADDRESS:	
		STREET 1:		PO BOX 2015 SUITE 1110
		STREET 2:		20 EGLINTON AVENUE WEST
		CITY:			TORONTO
		STATE:			A6
		ZIP:			M4R 1K8

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FAHNESTOCK VINER HOLDINGS INC
		DATE OF NAME CHANGE:	19950725

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VINER E A HOLDINGS LTD
		DATE OF NAME CHANGE:	19880622

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GOLDALE INVESTMENTS LTD
		DATE OF NAME CHANGE:	19861030
</SEC-HEADER>
<DOCUMENT>
<TYPE>11-K
<SEQUENCE>1
<FILENAME>f11k10v3c.htm
<TEXT>
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<HEAD>
<TITLE>_________________________________________________</TITLE>
<META NAME="author" CONTENT="eroberts">
<META NAME="date" CONTENT="06/28/2011">
</HEAD>
<BODY style="line-height:12pt; font-size:10pt; color:#000000">
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>UNITED STATES</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>SECURITIES AND EXCHANGE COMMISSION</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>WASHINGTON, D.C. 20549</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>_______________________________</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>FORM 11-K</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>AND SIMILAR PLANS PURSUANT TO SECTION 15(d) OF THE</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>SECURITIES EXCHANGE ACT of 1934</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">(Mark One)</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">[X]<B> </B>ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">For the fiscal year ended December 31, 2010</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">OR</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">[ &nbsp;] TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 </P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">For the transition period from _ to _</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Commission File No. 1-12043</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">A. Full title of the plan and address of the plan, if different from that of the issuer named below:</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>OPPENHEIMER &amp; CO. INC. 401(k) PLAN</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>OPPENHEIMER HOLDINGS INC.<BR>
125 Broad Street</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>New York NY 10004</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">_____________________________________________________________________</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>REQUIRED INFORMATION</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Item 1. Not applicable</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Item 2. Not applicable</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Item 3. Not applicable</P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">Item 4. Financial Statements and Supplemental Information</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:11pt; line-height:13pt; font-family:Times New Roman Bold; font-size:11pt">Oppenheimer &amp; Co. Inc. 401(k) Plan</P>
<P style="margin-top:0pt; margin-bottom:11pt; line-height:13pt; font-family:Times New Roman Bold; font-size:11pt" align=right>Contents</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Report Letter</P>
<P style="margin-top:0pt; margin-bottom:11pt; text-indent:462.5pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">1</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Statement of Net Assets Available for Plan Benefits</P>
<P style="margin-top:0pt; margin-bottom:11pt; text-indent:462.5pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">2</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Statement of Changes in Net Assets Available for Plan Benefits</P>
<P style="margin-top:0pt; margin-bottom:11pt; text-indent:462.5pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">3</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Notes to Financial Statements</P>
<P style="margin-top:0pt; margin-bottom:11pt; text-indent:448.75pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><A NAME="OLE_LINK1"></A>4&#150;11</P>
<P style="margin-top:0pt; margin-bottom:-13pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Schedule of Assets Held at End of Year</P>
<P style="margin-top:0pt; margin-bottom:11pt; text-indent:419.4pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Schedule 1</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR>
<BR></P>
<P style="margin:0pt; font-family:Arial; font-size:7pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:5.5pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=center><B>Report of Independent Registered Public Accounting Firm</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">To the Participants and the Administrator</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Oppenheimer &amp; Co. Inc. 401(k) Plan </P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>We have audited the accompanying statement of net assets available for plan benefits of &nbsp;the Oppenheimer &amp; Co. Inc. 401(k) Plan (the &#147;Plan&#148;) as of December 31, 2010 and 2009 and the related statement of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on these financial statements based on our audits. </P>
<P style="margin:0pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:9pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). &nbsp;Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. &nbsp;The Plan is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. Our audit included consideration of internal control over financial reporting as a basis for designing audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Plan&#146;s internal control over financial reporting. Accordingly, we express no such opinion. An audit also includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. &nbsp;We believe that our audits provide a reasonable basis for our opinion.</P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets of the Plan as of December 31, 2010 and 2009 and the changes in net assets for the years then ended, in conformity with accounting principles generally accepted in the United States of America.</P>
<P style="margin:0pt; font-family:Times New Roman" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Our audits were performed for the purpose of forming an opinion on the financial statements taken as a whole. &nbsp;The supplemental schedule of assets held at end of year as of December 31, 2010 is presented for the purpose of additional analysis and is not a required part of the basic financial statements but is supplementary information required by the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. &nbsp;The supplemental schedule is the responsibility of the Plan's management. &nbsp;The supplemental schedule has been subjected to the auditing procedures applied in the audits of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.</P>
<P style="margin-top:12pt; margin-bottom:-14pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>/s/ Plante &amp; Moran, PLLC</P>
<P style="margin:0pt; text-indent:360pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Auburn Hills, Michigan</P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:12pt">June 28, 2011 </P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:-16.5pt; line-height:16.5pt; font-family:Times New Roman; font-size:12pt" align=justify>1</P>
<P style="margin:0pt; text-indent:72pt; line-height:14.5pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Arial; font-size:11pt" align=center><BR>
<BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=565.2 colspan=4><P style="margin:0pt; font-family:Arial; font-size:11pt"><B><BR></B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Oppenheimer &amp; Co. Inc. 401(k) Plan</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Statement of Net Assets Available for Plan Benefits</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=213 colspan=3><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>December 31</B></P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>2010</B></P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>2009</B></P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><B>Assets</B></P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Participant-directed investments:</P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money market funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>$33,409,519</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>$32,847,744</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>174,686,019</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>126,616,018</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common collective funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=right>-</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=right>18,111,933</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oppenheimer Holdings Inc. &#150; Common stock</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>30,197,432</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>36,144,124</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash surrender value of life insurance policies</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>404,474</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>415,113</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments at fair value</P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>238,697,444</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-top:0.75pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>214,134,932</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Contributions receivable:</P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>3,335,515</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>2,871,521</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employees</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>223,731</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>216,135</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total contributions receivable</P>
</TD><TD style="border-top:0.75pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>3,559,246</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-top:0.75pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>3,087,656</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Cash</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>66,882</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>4,833</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Participant notes receivable</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>6,122,991</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>4,718,509</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Other receivable</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>-</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>24,955</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><B>Net Assets at Fair Value</B></P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>248,446,563</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>221,970,885</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><B>Adjustment from Fair Value to Contract Value for</B></P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>&nbsp;&nbsp;&nbsp;Interest in Common Collective Trust Funds </B></P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>&nbsp;&nbsp;&nbsp;Relating to Fully Benefit-Responsive Investment</B></P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>&nbsp;&nbsp;&nbsp;Contracts</B></P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>-</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>459,883</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Net Assets Available for Plan Benefits</B></P>
</TD><TD style="border-bottom:2pt double #000000" valign=top width=96><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=right><B>$248,446,563</B></P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=top width=101.267><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=right><B>$222,430,768</B></P>
</TD></TR>
</TABLE>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">See Notes to Financial Statements.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">2</P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=top width=565.2 colspan=4><P style="margin:0pt; font-family:Arial; font-size:11pt"><B><BR></B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Oppenheimer &amp; Co. Inc. 401(k) Plan</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Statement of Changes in Net Assets Available for Plan Benefits</B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=213 colspan=3><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>Year Ended December 31</B></P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>2010</B></P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>2009</B></P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><B>Additions</B></P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Contributions:</P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employees</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>$21,200,365</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>$19,663,664</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>3,149,115</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>2,726,412</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rollover</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=right>2,533,166</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt" align=right>2,510,364</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total contributions</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>26,882,646</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>24,900,440</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Investment income (loss):</P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest and dividends</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>3,237,496</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>2,912,613</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net realized and unrealized gains (loss):</P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mutual funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>18,947,172</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>26,337,010</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common collective funds</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>407,260</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>1,859,549</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oppenheimer Holdings Inc. &#150; Common stock</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>(7,555,513)</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>25,516,926</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment income </P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>15,036,415</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>56,626,098</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest from participant notes receivable</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>322,965</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>307,865</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total additions </P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>42,242,026</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>81,834,403</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><B>Deductions</B></P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Benefits paid to participants and beneficiaries</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>16,142,167</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>15,718,238</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Administrative expenses</P>
</TD><TD valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>70,428</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>59,178</P>
</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Life insurance premiums</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>13,636</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>15,064</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deductions</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>16,226,231</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>15,792,480</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Net Increase &nbsp;in Net Assets Available for Plan Benefits</B></P>
</TD><TD valign=top width=96><P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=right><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>26,015,795</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267><P style="margin:0pt; font-family:Times New Roman; font-size:11pt" align=right><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>66,041,923</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><B>Net Assets Available for Plan Benefits</B></P>
</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;Beginning of year</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>222,430,768</P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>156,388,845</P>
</TD></TR>
<TR><TD valign=top width=352.2>&nbsp;</TD><TD valign=top width=96>&nbsp;</TD><TD valign=top width=15.733>&nbsp;</TD><TD valign=top width=101.267>&nbsp;</TD></TR>
<TR><TD valign=top width=352.2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;End of year</P>
</TD><TD style="border-bottom:2pt double #000000" valign=top width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right><B>$248,446,563</B></P>
</TD><TD valign=top width=15.733>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=top width=101.267><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right><B>$222,430,768</B></P>
</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">See Notes to Financial Statements.</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><B><BR></B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">3</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><B><BR>
<BR></B></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Oppenheimer &amp; Co. Inc. 401(k) Plan</B></P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>Notes to Financial Statements</B></P>
<P style="margin-top:0pt; margin-bottom:16.5pt; padding-bottom:3pt; line-height:13pt; font-family:Times New Roman; font-size:11pt; border-bottom:0.75pt solid #000000"><B>December 31, 2010 and 2009</B></P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Note 1 - Description of the Plan </B></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The following description of the Oppenheimer &amp; Co. Inc. 401(k) Plan (the &#147;Plan&#148;) provides only general information. &nbsp;Participants should refer to the plan agreement for a more complete description of the Plan&#146;s provisions.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>General</B> - The Plan is a defined contribution plan covering all eligible employees of Oppenheimer &amp; Co. Inc. (the &quot;Company&quot;). &nbsp;Employees of the Company who are at least 18 years of age shall be eligible to make elective deferrals into the Plan upon date of hire. &nbsp;Participants who are at least 18 years of age and who have completed one year of service and are employed on the last day of the plan year shall be eligible to receive a discretionary contribution. &nbsp;</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>During the plan years ended December 31, 2010 and 2009, as permitted under the plan agreement, the Plan adopted new formulas used in computing the discretionary contributions from the Company. </P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Contributions</B> - Employees may make salary deferral contributions up to 50 percent of compensation subject to tax deferral limitations established by the Internal Revenue Code. &nbsp;Participants who have reached the age of 50 by the end of the plan year may also make catch-up contributions to the maximum allowed by the Plan. &nbsp;Participants may also make contributions to the Plan in the form of a rollover of funds from another qualified plan (excluding any after-tax contributions) or IRAs.</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Company may contribute to the Plan a discretionary amount (the &#147;Employer Discretionary Contribution&#148;). &nbsp;The Employer Discretionary Contribution is determined by the Company's Board of Directors and is subject to guidelines set forth in the Plan agreement. </P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Employer Discretionary Contributions, including amounts allocated for rebates received, for the year ended December 31, 2010 were determined as follows:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:94.5pt; text-indent:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify>&#167;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:94.5pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify><FONT FACE="Times New Roman">2.00% of the first $40,000 of a participant&#146;s compensation</FONT></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:94.5pt; text-indent:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify>&#167;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:94.5pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify><FONT FACE="Times New Roman">1.00% of the next $25,000 of a participant&#146;s compensation</FONT></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:94.5pt; text-indent:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify>&#167;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:94.5pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify><FONT FACE="Times New Roman">0.90% of the next $35,000 of a participant&#146;s compensation</FONT></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:94.5pt; text-indent:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify>&#167;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:94.5pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify><FONT FACE="Times New Roman">0.207% of the next $65,000 of a participant&#146;s compensation</FONT></P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">4</P>
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<P style="margin-top:0pt; margin-bottom:6pt; padding-left:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Employer Discretionary Contributions, including amounts allocated for rebates received, for the year ended December 31, 2009 were determined as follows:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:94.5pt; text-indent:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify>&#167;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:94.5pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify><FONT FACE="Times New Roman">2.00% of the first $40,000 of a participant&#146;s compensation</FONT></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:94.5pt; text-indent:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify>&#167;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:94.5pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify><FONT FACE="Times New Roman">0.90% of the next $25,000 of a participant&#146;s compensation</FONT></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:94.5pt; text-indent:-18pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify>&#167;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:94.5pt; line-height:14pt; font-family:Wingdings; font-size:12pt" align=justify><FONT FACE="Times New Roman">0.80% of the next $35,000 of a participant&#146;s compensation</FONT></P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Plan receives rebates of certain mutual fund shareholder service fees. These rebates are placed in a non-settlor account. &nbsp;All amounts in the Plan's non-settlor account will be allocated to participants based on the formula outlined above. &nbsp;</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>To the extent that that total amount in the Plan's non-settlor account is less than the amount to be allocated, the Company will make up the shortfall. &nbsp;For the year ended December 31, 2010, the total employer discretionary contribution was $3,500,370, of which $164,855 was allocated from rebate amounts and the remaining was contributed by the Company. &nbsp;For the year ended December 31, 2009, the total employer discretionary contribution was $3,044,507, of which $172,986 was allocated from rebate amounts and the remaining was contributed by the Company. &nbsp;</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Vesting</B> - All participants are immediately and fully vested in all Employee Elective Deferrals and the income derived from the investment of such contributions. </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Participants will be vested in Employer Discretionary Contributions plus the income thereon upon the completion of service with the Company or an affiliate at the following rate:</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>Years of Service</U> </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:108pt; text-indent:144pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><U>Vested Percentage</U></P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Less than 2 years</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:108pt; text-indent:204.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>0%</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>2 years but less than 3</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:108pt; text-indent:198.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>20%</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>3 years but less than 4</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:108pt; text-indent:198.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>40%</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>4 years but less than 5</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:108pt; text-indent:198.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>60%</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>5 years but less than 6</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:108pt; text-indent:198.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>80%</P>
<P style="margin-top:0pt; margin-bottom:-14pt; padding-left:108pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>6 years or more</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:108pt; text-indent:192.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>100%</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>All years of service with the Company or an affiliate are counted to determine a participant&#146;s nonforfeitable percentage except years of service before the Plan was restated in 1991. &nbsp;Prior to January 1, 2007, participants could receive a supplemental discretionary contribution (&#147;Employer Stock Contribution&#148;). &nbsp;Effective January 1, 2007, the Plan was amended and no longer allows for supplemental discretionary contributions including the Employer Stock Contribution. &nbsp;Participants will be 100 percent vested in the Employer Stock Contributions only upon completion of five years of service. </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>5</P>
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<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
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<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>At December 31, 2010 and 2009, forfeited nonvested accounts totaled $314,132 and $350,264, respectively. &nbsp;These accounts will be used to reduce future employer contributions.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Notwithstanding the vesting schedule specified above, a participant shall be 100 percent vested in his or her Employer Discretionary Contribution and Employer Stock Contribution upon the attainment of normal retirement age, death, or disability if still employed with the Company or an affiliate upon the occurrence of one of these events.</P>
<P style="margin-top:0pt; margin-bottom:12pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Participant Accounts </B>- Each participant's account is credited with the participant&#146;s contribution and allocations of the Company's contributions and plan earnings. &nbsp;The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account. &nbsp;Participants may direct the investments of their account balances into various investment options offered by the Plan.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Payment of Benefits</B> - Payment of vested benefits under the Plan will be made in the event of a participant&#146;s termination of employment, death, retirement, or financial hardship and may be paid in either a lump-sum distribution or over a certain period of time as determined by IRS rules or by participant election.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Termination </B>- While it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions set forth in the plan document and the Employee Retirement Income Security Act of 1974 (ERISA). &nbsp;Upon termination, participants become 100 percent vested in their accounts.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Participant Notes Receivable</B> - Active participants may borrow from their account balances and must be adequately collateralized using not more than 50 percent of the participant&#146;s vested account balance. &nbsp;Interest is stated at a reasonable rate determined on the note date. The notes receivable and interest repayments are reinvested in accordance with the participant&#146;s current investment selection. </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Administrative Expenses</B> - Certain plan expenses may be paid by the Company while other administrative expenses of the Plan are paid by the Plan as provided in the Plan document.</P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Note 2 - Summary of Significant Accounting Policies</B></P>
<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Investment Valuation</B> -<B> </B>The Plan's investments are stated at fair value, except for a stable value common collective trust fund which was held as of December 31, 2009. &nbsp;There were no investments in common collective trust funds as of December 31, 2010. &nbsp;Common collective trust funds that invest in fully benefit-responsive investment contracts (commonly known as stable value funds) are adjusted to contract value in the financial statements. &nbsp;Contract value represents investments at cost plus accrued interest income less amounts withdrawn to pay benefits. &nbsp;</P>
<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>6</P>
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<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The fair value of the stable value common collective trust fund held as of December 31, 2009 was based on discounting the related cash flows of the underlying guaranteed investment contracts based on current yields of similar instruments with comparable durations. &nbsp;</P>
<P style="margin:0pt; padding-left:40.5pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The fair value of the remaining common collective trust fund held as of December 31, 2009 was based on the quoted market values of the underlying investments. &nbsp;Life insurance contracts are stated at cash surrender value as provided in the policies, which approximates fair value. &nbsp;The money market funds are valued at their outstanding balances, which approximate fair value. &nbsp;All other investments are valued based on quoted market prices. See Note 6 for additional information.</P>
<P style="margin:0pt; padding-left:40.5pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:10pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The methods described above may produce a fair value calculation that may not be indicative of net realizable value or reflective of future fair values. &nbsp;Furthermore, while the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.</P>
<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Participant Notes Receivable</B> - Participant notes receivable are recorded at their unpaid principal balances plus any accrued interest. &nbsp;Participant notes receivable are written off when deemed uncollectible.</P>
<P style="margin:0pt; padding-left:40.5pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Benefit Payments </B>- Benefits are recorded when paid.</P>
<P style="margin:0pt; padding-left:40.5pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>New Accounting Pronouncements </B>- During 2010, the Plan adopted the provisions of a new accounting standard that requires defined contribution plans to classify participant loans as participant notes receivable rather than as investments. &nbsp;This standard was adopted retroactively and, as a result, the December 31, 2009 participant loans have been reclassified from investments to participant notes receivable. &nbsp;The adoption of this standard had no impact on the Plan&#146;s net assets or changes in net assets.</P>
<P style="margin:0pt; padding-left:40.5pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Use of Estimates </B>- The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and changes therein and disclosure of contingent assets and liabilities. &nbsp;Actual results could differ from those estimates.</P>
<P style="margin:0pt; padding-left:40.5pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify><B>Risk and Uncertainties </B>- The Plan invests in various securities including mutual funds and Oppenheimer Holdings Inc. common stock. Investment securities, in general, are exposed to various risks, such as interest rate, credit, and overall market volatility. </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>7</P>
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<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
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<P style="margin-top:0pt; margin-bottom:11pt; padding-left:40.5pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Due to the level of risk associated with certain investment securities, it is reasonably possible that changes in the values of investment securities will occur in the near term and that such changes could materially affect the amounts reported in the statement of net assets available for plan benefits.</P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Note 3 - Concentration of Investments</B></P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Significant individual investments of the Plan&#146;s net assets are separately identified as follows: &nbsp;</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=bottom width=348>&nbsp;</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>December 31, 2010</U></P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=center><U>December 31, 2009</U></P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Investments - At fair value:</P>
</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Growth Fund of America</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>&nbsp;$ &nbsp;19,431,673 </P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>&nbsp;$ &nbsp;24,711,962 </P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Washington Mutual Investors Fund</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>19,266,884</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,250,506 </P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Advantage Primary Liquidity Fund</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>30,982,913</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>29,383,717</P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Oppenheimer Holdings Inc. - Common stock</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>30,197,432</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>36,144,124 </P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Oppenheimer Developing Markets Fund</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>5,996,349</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>12,502,028 </P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Wells Fargo Advantage Small Cap Value Fund</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>16,646,621</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>15,052,808</P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Vanguard Interim Term Treasury</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>13,063,250</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>16,475,082</P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:5.7pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">EuroPacific Growth Fund</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>22,514,419</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=right>10,487,674</P>
</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Note 4 - Tax Status</B></P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Plan obtained its latest determination letter on June 24, 2010 in which the Internal Revenue Service stated that the Plan, as designed, is in compliance with the applicable requirements of the Internal Revenue Code (IRC). &nbsp;Therefore, no provision for income taxes has been included in the Plan's financial statements. </P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Note 5 - Reconciliation of Financial Statements to Form 5500</B></P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The following is a reconciliation of net assets available for Plan benefits per the financial statements to Form 5500:</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=bottom width=348>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>2010</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=108><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>2009</P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Net assets available for Plan benefits per the financial statements</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;$248,446,563 </P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;$222,430,768 </P>
</TD></TR>
<TR><TD width=348><P style="margin:0pt; text-indent:5.25pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Less:</P>
</TD><TD valign=bottom width=96>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:7.85pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Amounts allocated to withdrawing participants</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>-</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>(1,156)</P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; text-indent:7.85pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Adjustment to fair value for stable value fund</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>-</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=108><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(459,883)</P>
</TD></TR>
<TR><TD valign=bottom width=348><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Net assets available for Plan benefits per Form 5500</P>
</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=96><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;$248,446,563 </P>
</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=108><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;$221,969,729 </P>
</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:36pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>8</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:36pt; text-indent:36pt; font-family:Times New Roman; font-size:12pt" align=justify><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:36pt; text-indent:36pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The following is a reconciliation of net increase in net assets available for Plan benefits to participants per the financial statements to the Form 5500:</P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=bottom width=339.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=208.733 colspan=2><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Year ended December 31</P>
</TD></TR>
<TR><TD valign=bottom width=339.667>&nbsp;</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=105.067><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>2010</P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=103.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>2009</P>
</TD></TR>
<TR><TD valign=bottom width=339.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Net change in assets available for Plan benefits per the financial statements</P>
</TD><TD valign=bottom width=105.067><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>$26,015,795</P>
</TD><TD valign=bottom width=103.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>$66,041,923</P>
</TD></TR>
<TR><TD width=339.667><P style="margin:0pt; text-indent:5.25pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Add:</P>
</TD><TD valign=bottom width=105.067>&nbsp;</TD><TD valign=bottom width=103.667>&nbsp;</TD></TR>
<TR><TD width=339.667><P style="margin:0pt; text-indent:5.25pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;Amounts allocated to withdrawing</P>
<P style="margin:0pt; text-indent:5.25pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;&nbsp;&nbsp;participants at December 31, 2009 and 2008</P>
</TD><TD valign=bottom width=105.067><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>1,156</P>
</TD><TD valign=bottom width=103.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>6,440</P>
</TD></TR>
<TR><TD width=339.667><P style="margin:0pt; text-indent:6.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;Adjustment to fair value for stable value fund</P>
</TD><TD valign=bottom width=105.067><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>459,883</P>
</TD><TD valign=bottom width=103.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>157,388</P>
</TD></TR>
<TR><TD width=339.667><P style="margin:0pt; text-indent:5.25pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Less:</P>
</TD><TD valign=bottom width=105.067>&nbsp;</TD><TD valign=bottom width=103.667>&nbsp;</TD></TR>
<TR><TD valign=bottom width=339.667><P style="margin:0pt; text-indent:7.85pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Amounts allocated to withdrawing </P>
<P style="margin:0pt; text-indent:7.85pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">participants at December 31, 2010 and 2009</P>
</TD><TD valign=bottom width=105.067><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>-</P>
</TD><TD valign=bottom width=103.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,156 </P>
</TD></TR>
<TR><TD valign=bottom width=339.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Net income per Form 5500</P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=105.067><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;$26,476,834</P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=103.667><P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=right>&nbsp;$66,204,595</P>
</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Amounts allocated to withdrawing participants are recorded on Form 5500 for benefit claims that have been processed and approved for payment prior to December 31, 2010 and 2009 but not yet paid as of that date.</P>
<P style="margin-top:0pt; margin-bottom:12pt; line-height:14pt; font-family:Times New Roman; font-size:12pt"><B>Note 6 - Fair Value </B></P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Accounting standards require certain assets and liabilities to be reported at fair value in the financial statements and provide a framework for establishing that fair value. &nbsp;The framework for determining fair value is based on a hierarchy that prioritizes the inputs and valuation techniques used to measure fair value.&nbsp; </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>In general, fair values determined by Level 1 inputs use quoted prices in active markets for identical assets or liabilities that the Plan has the ability to access.&nbsp; Fair values determined by Level 2 inputs use other inputs that are observable, either directly or indirectly.&nbsp; These Level 2 inputs include quoted prices for similar assets and liabilities in active markets, and other inputs such as interest rates and yield curves that are observable at commonly quoted intervals.&nbsp; Level 3 inputs are unobservable inputs, including inputs that are available in situations where there is little, if any, market activity for the related asset or liability.&nbsp; </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>In instances where inputs used to measure fair value fall into different levels of the fair value hierarchy, fair value measurements in their entirety are categorized based on the lowest level input that is significant to the valuation. The Plan&#146;s assessment of the significance of particular inputs to these fair value measurements requires judgment and considers factors specific to each asset or liability. </P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>9</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; font-family:Times New Roman; font-size:12pt" align=justify><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>Disclosures concerning assets measured at fair value are as follows: </P>
<TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=bottom width=552 colspan=4><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center><B>Assets at Fair Value as of December 31, 2010</B></P>
</TD></TR>
<TR><TD valign=bottom width=228>&nbsp;</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>&nbsp;Quoted Prices in Active Markets for Identical Assets<BR>
 (Level 1) </P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>&nbsp;Significant Other Observable Inputs <BR>
(Level 2) </P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>&nbsp;Balance at December 31, 2010 </P>
</TD></TR>
<TR><TD valign=bottom width=228>&nbsp;</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96>&nbsp;</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Mutual funds:</P>
</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96>&nbsp;</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;U.S. equities</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$97,025,154 </P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$97,025,154 </P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;International equities</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>38,374,008</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>38,374,008</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;World allocation funds</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>17,373,432</P>
</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>17,373,432</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;Bond and fixed income investments</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>21,913,425</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>21,913,425</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Common stock&#150;Oppenheimer Holdings Inc.</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>30,197,432</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>30,197,432</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Short-term investments</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>33,409,519</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>33,409,519</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Cash surrender value life insurance policies</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>404,474</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>404,474</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Total Assets at fair value</P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$238,292,970</P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$404,474 </P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$238,697,444 </P>
</TD></TR>
<TR><TD valign=bottom width=228>&nbsp;</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96>&nbsp;</TD></TR>
<TR><TD valign=bottom width=552 colspan=4><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center><B>Assets at Fair Value as of December 31, 2009</B></P>
</TD></TR>
<TR><TD valign=bottom width=228>&nbsp;</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>&nbsp;Quoted Prices in Active Markets for Identical Assets<BR>
 (Level 1) </P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>&nbsp;Significant Other Observable Inputs <BR>
(Level 2) </P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=center>&nbsp;Balance at December 31, 2009 </P>
</TD></TR>
<TR><TD valign=bottom width=228>&nbsp;</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96>&nbsp;</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Mutual funds:</P>
</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96>&nbsp;</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;U.S. equities</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$78,360,160 </P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$78,360,160 </P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;International equities</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>31,780,776</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>31,780,776</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;Bond and fixed income investments</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>16,475,082</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>16,475,082</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Common collective funds:</P>
</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96>&nbsp;</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;Equity (1)</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>8,639,794</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>8,639,794</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>&nbsp;&nbsp;&nbsp;Stable value fund (2)</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- &nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>9,472,139 &nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>9,472,139 &nbsp;&nbsp;&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Common stock&#150;Oppenheimer Holdings Inc.</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>36,144,124</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>36,144,124</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Short-term investments</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>32,847,744</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>32,847,744</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Cash surrender value life insurance policies</P>
</TD><TD valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>-</P>
</TD><TD valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>415,113</P>
</TD><TD valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>415,113</P>
</TD></TR>
<TR><TD valign=bottom width=228><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=justify>Total Assets at fair value</P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=120><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$195,607,886 </P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=108><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$18,527,046 </P>
</TD><TD style="border-top:0.5pt solid #000000; border-bottom:2pt double #000000" valign=bottom width=96><P style="margin:0pt; line-height:11pt; font-family:Times New Roman; font-size:9pt" align=right>&nbsp;$214,134,932 </P>
</TD></TR>
<TR><TD valign=bottom width=228>&nbsp;</TD><TD valign=bottom width=120>&nbsp;</TD><TD valign=bottom width=108>&nbsp;</TD><TD valign=bottom width=96>&nbsp;</TD></TR>
</TABLE>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>10</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; font-family:Times New Roman; font-size:12pt" align=justify><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:36pt; text-indent:-36pt; font-family:Arial; font-size:12pt" align=justify><FONT FACE="Times New Roman">(1)</FONT> <FONT FACE="Times New Roman">This category represents investments in an actively managed common collective trust fund that invests primarily in equity securities which may include common stocks, options and futures. Investments are valued at the net asset value per share multiplied by the number of shares held as of the measurement date. </FONT></P>
<P style="margin-top:0pt; margin-bottom:-12pt; padding-left:36pt; text-indent:-36pt; font-family:Times New Roman" align=justify>&nbsp;</P>
<P style="margin-top:0pt; margin-bottom:6pt; padding-left:36pt; font-family:Times New Roman" align=justify>(2) This category represents investments in an actively managed common collective trust fund that invests primarily in investment contracts, a variety of fixed-income investments which may include corporate bonds, both U.S. and non-U.S. municipal securities and wrapper contracts. &nbsp;Investments are valued at the net asset value per share multiplied by the number of shares held as of the measurement date.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>There were no significant transfers between Levels of the fair value hierarchy during 2010 and 2009. The Plan&#146;s policy is to recognize transfers between Levels at the beginning of the applicable fiscal year.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>The Plan also holds other assets not measured at fair value on a recurring basis, including contributions and participant notes receivables. The fair value of these assets is equal to the carrying amounts in the accompanying financial statements due to either the short maturity of the instruments or the use of interest rates that approximate market rates for instruments of similar maturity.</P>
<P style="margin-top:0pt; margin-bottom:11pt; padding-left:39.6pt; line-height:14pt; font-family:Times New Roman; font-size:12pt" align=justify>11</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:13pt"><B><BR></B></P>
<P style="margin:0pt; line-height:15pt; font-family:Times New Roman; font-size:13pt"><B>Oppenheimer &amp; Co. Inc. 401(k) Plan</B></P>
<P style="margin:0pt; line-height:15pt; font-family:Times New Roman; font-size:13pt"><B>Schedule of Assets Held at End of Year</B></P>
<P style="margin:0pt; line-height:15pt; font-family:Times New Roman; font-size:13pt"><B>Form 5500, Schedule H, Item 4i</B></P>
<P style="margin:0pt; line-height:15pt; font-family:Times New Roman; font-size:13pt"><B>EIN 13-5657518, Plan Number 001</B></P>
<P style="margin:0pt; line-height:15pt; font-family:Times New Roman; font-size:13pt"><B>December 31, 2010</B></P>
<A NAME="RANGE!A1:D1"></A><TABLE style="font-size:10pt" cellspacing=0><TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman" align=center>&nbsp;&nbsp;&nbsp;</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman" align=center>&nbsp;</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>&nbsp;</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=center>&nbsp;</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman" align=center><U>(a)(b)<BR>
Identity of Issuer, Borrower,<BR>
Lessor, or Similar Party</U></P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman" align=center><U>(c)<BR>
Description of Investment including Maturity Date, Rate of Interest, Collateral, Par, or Maturity Value</U></P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center><U>(d)<BR>
Cost</U></P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=center><U>(e)<BR>
Current value</U></P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342>&nbsp;</TD><TD valign=bottom width=38.867>&nbsp;</TD><TD valign=bottom width=98.667>&nbsp;</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Oppenheimer Holdings Inc. </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Oppenheimer Holdings Inc. - Common stock**</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>&nbsp;$ &nbsp;&nbsp;&nbsp;30,197,432 </P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Reich &amp; Tang </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Advantage Primary Liquidity Fund - Money market fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>30,982,913</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Federated </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Governmental Obligations Institutional - Money market fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>2,422,924</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;MainStay </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">MainStay Cash Reserves &#150; Money market fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>3,682</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Artisan Investments </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Artisan Mid Cap Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>9,371,770</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;American Funds </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Growth Fund of America - Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>19,431,673</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Columbia</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Columbia Large Cap Index &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>9,562,993</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Delaware</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Delaware Infl-Prof Bond Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>1,450,887</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;EuroPacific </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">EuroPacific Growth Fund - Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>22,514,419</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;First Eagle</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">First Eagle Global Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>934,252</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Invesco</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Invesco Small Cap Growth Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>6,738,949</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Invesco</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Invesco Real Estate Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>8,490,856</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;IVA</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">IVA Worldwide Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>8,459,706</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Ivy</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Ivy Asset Strategy Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>7,979,474</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Janus</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Janus Forty Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>4,903,910</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;JP Morgan</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">JP Morgan Core Bond Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>2,955,542</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Loomis Sayles</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Loomis Sayles Bond Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>5,894,633</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;MFS Investment &nbsp;&nbsp;&nbsp;Management</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">MFS International New Discovery Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>9,863,240</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Oppenheimer Funds Inc. </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Oppenheimer Developing Markets Fund - Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>5,996,349</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Perkins</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Perkins Mid Cap Value &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>385,218</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Pioneer</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Pioneer Cullen Value Fund &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>775,393</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Vanguard </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Vanguard Interim Term Treasury &#150; Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>13,063,250</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">Wells Fargo </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Wells Fargo Advantage Small Cap Value Fund - Mutual </P>
</TD><TD valign=bottom width=38.867>&nbsp;</TD><TD valign=bottom width=98.667>&nbsp;</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>16,646,621</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Washington Mutual </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Washington Mutual Investors Fund - Mutual fund</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>19,266,884</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">&nbsp;Insurance contracts </P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000364</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>85,730</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000306</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>77,272</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000338</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>18,595</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000335</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>4,846</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000370</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>99,876</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000371</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>96,767</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000353</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>13,034</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Policy Number 4000347</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>*</P>
</TD><TD valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>8,354</P>
</TD></TR>
<TR><TD valign=bottom width=169><P style="margin:0pt; font-family:Times New Roman">Participants</P>
</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">Participant notes receivable, with interest rates ranging from</P>
</TD><TD valign=bottom width=38.867>&nbsp;</TD><TD valign=bottom width=98.667>&nbsp;</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman">4.25 percent to 9.25 percent</P>
</TD><TD valign=bottom width=38.867><P style="margin:0pt; font-family:Times New Roman" align=center>&nbsp;- </P>
</TD><TD style="border-bottom:0.5pt solid #000000" valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right>6,122,991</P>
</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342>&nbsp;</TD><TD valign=bottom width=38.867>&nbsp;</TD><TD valign=bottom width=98.667>&nbsp;</TD></TR>
<TR><TD valign=bottom width=169>&nbsp;</TD><TD valign=bottom width=342><P style="margin:0pt; font-family:Times New Roman"><B>Total </B></P>
</TD><TD valign=bottom width=38.867>&nbsp;</TD><TD style="border-bottom:2pt double #000000" valign=bottom width=98.667><P style="margin:0pt; font-family:Times New Roman" align=right><B>&nbsp;$ &nbsp;244,820,435 </B></P>
</TD></TR>
<TR><TD valign=bottom width=511 colspan=2><P style="margin:0pt; font-family:Times New Roman">&nbsp;*Cost information not required </P>
</TD><TD valign=bottom width=38.867>&nbsp;</TD><TD valign=bottom width=98.667>&nbsp;</TD></TR>
<TR><TD valign=bottom width=511 colspan=2><P style="margin:0pt; font-family:Times New Roman">&nbsp;**Party-in-interest, as defined by ERISA </P>
</TD><TD valign=bottom width=38.867>&nbsp;</TD><TD valign=bottom width=98.667>&nbsp;</TD></TR>
</TABLE>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; line-height:14pt; font-family:Times New Roman; font-size:12pt">Schedule 1</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt" align=center><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center><B>SIGNATURES</B></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">The Plan: Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on their behalf by the undersigned hereunto duly authorized.</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">OPPENHEIMER &amp; CO., INC. 401(k) PLAN</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">/s/ A.G. Lowenthal</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Albert G. Lowenthal, as Chairman and CEO of<BR>
Oppenheimer &amp; Co. Inc., the Plan Administrator</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">/s/ Lenore Denys</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Lenore Denys, as Managing Director of<BR>
Oppenheimer &amp; Co. Inc., the Plan Administrator</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Date: June 28, 2011</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="page-break-before:always; margin:0pt; padding-bottom:3pt; line-height:18pt; font-family:Times New Roman; font-size:16pt; border-bottom:4.5pt solid #000000"><B>&nbsp;</B></P>
<P style="margin-top:0pt; margin-bottom:26pt; font-family:Humanst521 XBd BT; font-size:13pt" align=right><B><BR></B></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt"><B>EXHIBIT INDEX</B></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Exhibit 23 - Consent of Independent Registered Public Accounting Firm</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">&nbsp;</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:0pt; margin-bottom:12pt; font-family:Times New Roman; font-size:12pt" align=justify><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
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<P style="margin:0pt; font-family:Times New Roman; font-size:11pt"><BR>
<BR></P>
<P style="margin:0pt; line-height:14.5pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR></P>
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<DOCUMENT>
<TYPE>EX-23
<SEQUENCE>2
<FILENAME>ex23.htm
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<HEAD>
<TITLE>Exhibit 23</TITLE>
<META NAME="author" CONTENT="robertse">
<META NAME="date" CONTENT="06/28/2011">
</HEAD>
<BODY style="line-height:12pt; font-size:10pt; color:#000000">
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Exhibit 23</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt" align=center>Consent of Independent Registered Public Accounting Firm</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt" align=center><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">We consent to the incorporation by reference in the registration statement (No. 333-129390) on Form S-8 of our report dated June 27, 20-11 appearing in the annual report on Form 11-K of Oppenheimer &amp; Co. Inc. 401(k) plan for the year ended December 31, 2010.</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; font-family:Times New Roman; font-size:11pt"><BR></P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">/s/ Plante &amp; Moran, PLLC</P>
<P style="margin-top:4.6pt; margin-bottom:4.6pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">Auburn Hills, Michigan</P>
<P style="margin:0pt; line-height:13pt; font-family:Times New Roman; font-size:11pt">June 28, 2011</P>
<P style="margin:0pt; font-family:Times New Roman; font-size:12pt"><BR>
<BR></P>
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