UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number       811-5850                               

                                        OneAmerica Funds, Inc.                                        
(Exact name of registrant as specified in charter)

             One American Square, Indianapolis, IN, 46282-8216                     
(Address of principal executive offices) (Zip code)

Constance E. Lund
             One American Square, Indianapolis, IN, 46282-8216                    
(Name and address of agent for service)

Registrant’s telephone number, including area code:  317-285-1877  

Date of fiscal year end: December 31, 2007

Date of reporting period: March 31, 2007

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (Sections 239.24 and 274.5 of this chapter) to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to Rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, D.C. 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. Section 3507.

OneAmerica Funds, Inc.
VALUE PORTFOLIO
SCHEDULE OF INVESTMENTS
March 31, 2007 (unaudited)

Description	Shares		Value
Common Stocks (89.2%)
Aerospace & Defense (3.5%)
General Dynamics Corp.		32,300		$	2,467,720
Precision Castparts Corp.		115,600			12,028,180
					14,495,900
Apparel (7.4%)
Columbia Sportswear Co.		156,100			9,726,591
Kellwood Co.		202,900			5,951,057
Liz Claiborne, Inc.		146,100			6,260,385
Wolverine World Wide, Inc.		317,650			9,075,261
					31,013,294
Automotive & Automotive Components (3.7%)
Harley-Davidson, Inc.		135,100			7,937,125
Magna International, Inc. Class A		97,700			7,338,247
					15,275,372
Chemicals (1.7%)
Dow Chemical Co.		151,400			6,943,204
Computer Hardware & Software (7.3%)
Autodesk, Inc. *		212,400			7,986,240
Cisco Systems, Inc.*		400,400			10,222,212
Dell Inc.*		188,900			4,384,369
Hewlett-Packard Co.		200,874			8,063,082
					30,655,903
Consumer Products (0.2%)
Helen of Troy, Ltd.*		31,100			706,281
Diversified Financial Services (9.7%)
Aegon NV		524,785			10,464,212
Citigroup, Inc.		137,798			7,074,549
Federated Investors, Inc.		244,800			8,989,056
Investment Technology Group, Inc.*		151,500			5,938,800
JP Morgan Chase & Co.		94,107			4,552,897
Washington Mutual, Inc.		90,526			3,655,440
					40,674,954
Diversified Manufacturing (7.8%)
Carlisle Cos., Inc.		290,400			12,466,872
Crane Co.		221,800			8,965,156
Illinois Tool Works, Inc.		128,900			6,651,240
Trinity Industries, Inc.		107,125			4,490,680
					32,573,948
Electrical Equipment (2.8%)
Baldor Electric Co.		306,493			11,567,046
FLIR Systems, Inc.*		3,800			135,546
					11,702,592
Food & Beverage (2.1%)
The Coca-Cola Co.		178,200			8,553,600
Health Care (4.4%)
Johnson & Johnson		58,700			3,537,262
McKesson Corp.		99,050			5,798,387

1

Merck & Co., Inc.	38,900	$	1,718,213
Pfizer, Inc.	295,450		7,463,067
			18,516,929
Home Furnishings (1.0%)
Furniture Brands International, Inc.	64,650		1,020,177
La-Z-Boy, Inc.	268,250		3,320,935
			4,341,112
Industrial Conglomerates (1.9%)
General Electric Co.	226,100		7,994,896
Metals & Mining (2.1%)
Alcoa, Inc.	263,900		8,946,210
Oil & Oil Services (7.2%)
Royal Dutch Petroleum PLC ADR	141,400		9,374,820
Tidewater, Inc.	162,850		9,539,753
Valero Energy Corp.	169,200		10,911,708
			29,826,281
Paper and Forest Products (1.4%)
Wausau Paper Corp.	402,300		5,777,028
Recreation (4.7%)
Brunswick Corp.	277,200		8,828,820
Mattel, Inc.	392,400		10,818,468
			19,647,288
Restaurants (0.5%)
OSI Restaurant Partners, Inc.	55,350		2,186,325
Retail (4.9%)
Bed Bath & Beyond, Inc.*	90,000		3,615,300
Best Buy Co., Inc.*	43,600		2,124,192
BJ’s Wholesale Club, Inc.*	191,400		6,475,062
Home Depot, Inc.	224,500		8,248,130
			20,462,684
Semiconductors (4.3%)
Applied Materials, Inc.	222,200		4,070,704
Intel Corp.	320,200		6,125,426
Texas Instruments, Inc.	253,800		7,639,380
			17,835,510
Telecommunication Services (6.4%)
Nokia Corp. ADR	539,650		12,368,778
Telefonos de Mexico, Class L ADR	428,900		14,325,260
			26,694,038
Transportation (4.2%)
Norfolk Southern Corp.	185,500		9,386,300
Werner Enterprises, Inc.	448,800		8,154,696
			17,540,996
Total common stocks (cost: $276,165,833)			372,364,345

	Interest		Maturity	Principal
Description	Rate		Date	Amount		Value
Short-Term Notes (4.1)%
Commercial Paper (3.4)%
Consumer Finance (3.4)%
General Electric Capital Corp.	5.303	%	5/21/07	$	3,000,000	$    2,978,583
General Electric Capital Corp.	5.293		4/03/07		2,000,000	1,999,700
Honda Motor Corp.	5.293		4/27/07		3,000,000	2,988,990
Prudential Funding Corp,	5.272		4/13/07		2,000,000	1,996,780

2

Toyota Motor Credit Corp.	5.293	4/10/07	$	2,000,000	$	1,997,640
UBS Financial Delaware LLC	5.313	5/21/07		2,000,000		1,985,720
						13,947,413
Oil & Gas (0.7%)
Chevron Texaco Corp.	5.272	5/08/07		3,000,000		2,984,250
Total short-term notes (cost: $16,929,653)						16,931,663
			Shares
Money Market Mutual Funds (5.0%)
Federated Investors Prime Obligation				10,356,287		10,356,287
Goldman Sachs Financial Square Funds				10,530,000		10,530,000
Total money market mutual funds (cost: $20,886,287)						20,886,287
Mutual Funds (1.8%)
iShares Russell 1000 Value Index Fund (cost: $5,676,640)				93,100		7,740,334
Cash and Cash Equivalents (0.0%)
BONY Cash Reserve (cost: $175,280)				175,280		175,280
Total Investments (100.1%) (a) (cost: $319,833,693)						418,097,909
Liabilities in excess of other assets (0.1%)						(601,538	)
Net Assets (100.0%)					$	417,496,371

* Non-Income producing securities.

The interest rate for short-term notes reflects the yields for those securities as of March 31, 2007.

Percentages shown are based on total net assets.

(a) The United States federal income tax basis of the Portfolio’s investments and the cost are the same as of March 31, 2007.

3

OneAmerica Funds, Inc.
MONEY MARKET PORTFOLIO
SCHEDULE OF INVESTMENTS
March 31, 2007 (unaudited)

	Interest		Maturity	Principal
Description	Rate		Date	Amount		Value
Short-Term Notes (98.8%)
U.S. Government & Agency Obligations (19.8%)
Federal Home Loan Bank Discount Notes	5.160	%	04/02/07	$	2,789,000	$	2,788,600
Federal Home Loan Bank Discount Notes	5.170		04/10/07		2,000,000		1,997,415
Federal Home Loan Bank Discount Notes	5.170		04/11/07		3,000,000		2,995,692
Federal Home Loan Bank Discount Notes	5.140		04/14/07		2,000,000		1,996,573
Federal Home Loan Mortgage Corp. Discount Notes	5.135		04/09/07		3,000,000		2,996,577
Federal Home Loan Mortgage Corp. Discount Notes	5.154		05/22/07		4,000,000		3,970,788
Federal Home Loan Mortgage Corp. Discount Notes	5.211		06/04/07		3,000,000		2,972,587
Federal Agricultural Mortgage Corp. Discount Notes	5.212		04/05/07		2,000,000		1,998,858
Federal Agricultural Mortgage Corp. Discount Notes	5.236		05/07/07		3,000,000		2,984,505
Federal Agricultural Mortgage Corp. Discount Notes	5.140		05/22/07		1,500,000		1,489,077
Federal Agricultural Mortgage Corp. Discount Notes	5.145		06/21/07		3,500,000		3,459,487
Federal Farm Credit Bank Discount Note	5.140		04/13/07		3,055,000		3,049,766
Federal National Mortgage Association Discount Notes	5.134		04/18/07		3,000,000		2,992,725
Federal National Mortgage Association Discount Notes	5.221		04/25/07		3,000,000		2,989,700
Federal National Mortgage Association Discount Notes	5.221		05/02/07		4,000,000		3,982,261
Tennessee Valley Authority Discount Notes	5.139		05/10/07		3,500,000		3,480,511
							46,145,122
Commercial Paper (67.0%)
Automotive (2.8%)
Honda Motor Company	5.292		04/03/07		3,000,000		2,999,130
Honda Motor Company	5.293		04/27/07		3,500,000		3,486,805
							6,485,935
Banks (2.7%)
Bank of America Corp.	5.313		04/17/07		1,350,000		1,346,856
Bank of America Corp.	5.313		04/20/07		3,000,000		2,991,703
Bank of America Corp.	5.303		06/08/07		2,000,000		1,980,242
							6,318,801
Chemical - Diversified (2.6%)
BASF Aktiengesells CPDS	5.303		04/05/07		6,000,000		5,996,514
							5,996,514
Computers (2.8%)
Hewlett Packard Co.	5.313		04/12/07		4,500,000		4,492,795
Hewlett Packard Co.	5.313		04/13/07		2,000,000		1,996,507
							6,489,302
Consumer Finance (15.4%)
American Express Credit Corp.	5.303		04/20/07		2,000,000		1,994,479
American Express Credit Corp.	5.303		04/23/07		4,000,000		3,987,215
American Express Credit Corp.	5.293		04/24/07		2,000,000		1,993,330
American Express Credit Corp.	5.293		05/01/07		2,500,000		2,489,125
America General Finance Corp.	5.303		05/04/07		2,500,000		2,488,015
America General Finance Corp.	5.262		06/21/07		4,000,000		3,953,290
Siemens Capital Corp.	5.363		04/10/07		4,000,000		3,994,710
Siemens Capital Corp.	5.323		04/12/07		2,500,000		2,495,990
Toyota Motor Credit Corp.	5.293		04/04/07		4,000,000		3,998,260
Toyota Motor Credit Corp.	5.282		06/13/07		2,500,000		2,473,588
UBS Finance Delaware, LLC	5.313		04/11/07		2,051,000		2,048,014
UBS Finance Delaware, LLC	5.313		05/08/07		4,000,000		3,978,457
							35,894,473
Diversified Financial Services (8.2%)
Citigroup Funding, Inc.	5.303		06/14/07		4,300,000		4,253,773
Citigroup Funding, Inc.	5.293		06/20/07		2,500,000		2,471,000
General Electric Capital Corp.	5.293		05/29/07		3,500,000		3,470,565
General Electric Capital Corp.	5.293		06/11/07		3,000,000		2,969,115
IBM Credit Corp.	5.257		06/07/07		3,025,000		2,995,809
IBM Credit Corp.	5.303		04/19/07		3,000,000		2,992,155
							19,152,417

1

Education (2.5%)
Harvard University	5.232	04/09/07	$	3,000,000	$	2,996,560
Harvard University	5.237	04/23/07		3,000,000		2,990,531
						5,987,091
Electric Integrated (2.8%)
Florida Power & Light Co.	5.343	04/16/07		2,500,000		2,494,511
Florida Power & Light Co.	5.333	04/17/07		4,000,000		3,990,649
						6,485,160
Electric Products (2.6%)
Emerson Electric Co.	5.303	04/10/07		2,000,000		1,997,385
Emerson Electric Co.	5.303	04/11/07		4,000,000		3,994,189
						5,991,574
Food, Beverages (4.7%)
The Coca-Cola Co.	5.272	06/29/07		4,500,000		4,442,150
Nestle Capital Corp.	5.272	05/24/07		3,250,000		3,225,119
Nestle Capital Corp.	5.272	05/25/07		3,250,000		3,224,650
						10,891,919
Finance-Leasing (0.5%)
Pitney Bowes	5.313	04/17/07		1,100,000		1,097,438
Insurance (5.5%)
American International Group Funding, Inc.	5.303	04/02/07		3,000,000		2,999,564
American International Group Funding, Inc.	5.282	06/01/07		3,500,000		3,469,102
Prudential Funding Corp.	5.293	04/04/07		4,000,000		3,998,260
Prudential Funding Corp.	5.272	05/03/07		2,500,000		2,488,444
						12,955,370
Medical - Drugs (2.6%)
Abbott Laboratories	5.313	04/05/07		2,000,000		1,998,836
Abbott Laboratories	5.323	04/10/07		2,000,000		1,997,375
Abbott Laboratories	5.303	04/13/07		2,000,000		1,996,513
						5,992,724
Medical Products (2.5%)
Johnson & Johnson	5.242	04/27/07		2,000,000		1,992,532
Johnson & Johnson	5.251	05/04/07		2,000,000		1,990,503
Johnson & Johnson	5.232	06/22/07		2,000,000		1,976,493
						5,959,528
Oil & Gas (2.8%)
Chevron Texaco Corp.	5.272	04/26/07		4,250,000		4,234,653
Chevron Texaco Corp.	5.262	05/07/07		2,250,000		2,238,323
						6,472,976
Pipelines (2.8%)
Colonial Pipeline Co.	5.384	04/02/07		2,000,000		1,999,705
Colonial Pipeline Co.	5.374	04/03/07		2,000,000		1,999,411
Colonial Pipeline Co.	5.445	04/04/07		2,500,000		2,498,881
						6,497,997
Retail-Design (1.7%)
Wal-Mart Stores	5.252	04/17/07		2,000,000		1,995,396
Wal-Mart Stores	5.252	05/01/07		2,000,000		1,991,367
						3,986,763
Transport Service (1.5%)
United Parcel Services	5.272	04/13/07		3,500,000		3,493,913
Variable Rate Demand Notes (3.8%)**
Chatham Capital Corp.(backed by 5/3rd Bank LOC)	5.350	04/01/07		900,000		900,000
Community Housing Development (backed by Wells Fargo Bank LOC)	5.400	04/01/07		900,000		900,000
Connecticut Water (backed by Citizen Bank of RI LOC)	5.290	04/02/07		1,500,000		1,500,000
PCP Investors LLC (backed by Wells Fargo Bank LOC)	5.400	04/01/07		925,000		925,000
Pineview (backed by 5/3rd Bank LOC)	5.350	04/01/07		400,000		400,000
Rockwood Quarry LLC (backed by 5/3rd Bank LOC)	5.350	04/02/07		4,200,000		4,200,000
						8,825,000

2

Corporate Bonds (8.2%)
Chemicals (2.3%)
E.I. Du Pont De Nemours & Co.	6.750	09/01/07	$	3,000,000	$	3,017,040
E.I. Du Pont De Nemours & Co.	3.375	11/15/07		2,500,000		2,470,193
						5,487,233
Commercial Banks (2.5%)
National City Bank	3.300	05/15/07		4,250,000		4,239,919
National City Bank of Indiana	4.875	07/20/07		1,663,000		1,660,704
						5,900,623
Household & Personal Products (2.6%)
The Proctor & Gamble Co.	4.750	06/15/07		6,000,000		5,990,666
Retail (0.8%)
Wal-Mart Stores	4.375	07/12/07		2,000,000		1,994,715
Total short-term notes (cost: $230,493,254)						230,493,254

	Shares
Money Market Mutual Funds (1.1%)
Dreyfus Masternote Account		10,000		10,000
Federated Investors Prime Obligation Fund		1,000,001		1,000,001
Wells Fargo Cash Invest MM-I		1,600,000		1,600,000
Total money market mutual funds (cost: $2,610,001)				2,610,001
Cash and Cash Equivalents (0.0%)
BONY Cash Reserve (cost: $87,365)		87,365		87,365
Total Investments (99.9%) (a) (cost: $233,190,620)				233,190,620
Other assets less liabilities (0.1%)				217,168
Net Assets (100.0%)			$	233,407,788

**Indicates a variable rate security. The maturity date presented for these instruments is the latter of the next date on which the security can be redeemed at par or the next date on which the rate of interest is adjusted. The interest rate shown reflects the rate in effect at March 31, 2007.

The interest rate for short-term notes reflects the yields for those securities as of March 31, 2007.

Cost represents amortized cost.

Percentages shown are based on total net assets.

(a) The United States federal income tax basis of the Portfolio’s investments and the cost are the same as of March 31, 2007.

3

OneAmerica Funds, Inc.
INVESTMENT GRADE BOND PORTFOLIO
SCHEDULE OF INVESTMENTS
March 31, 2007 (unaudited)

	Interest		Maturity	Principal
Description	Rate		Date	Amount			Value
Long-Term Notes and Bonds (91.8%)
Mortgage-Backed and Asset-Backed Securities (58.3%)
Atlantic City Electric Transition Funding LLC, Ser. 2002-1, Cl. A3	4.910	%	07/20/17	$	1,000,000	$	994,678
Banc of America Commercial Mortgage, Inc., Ser. 2006-5, Cl. AAB	5.379		09/10/47		900,000		904,611
Bear Stearns Commercial Mortgage Securities, Ser. 2006-PW13, Cl. AAB	5.530		09/11/41		1,300,000		1,316,804
Bear Stearns Commercial Mortgage Securities, Ser. 2006-PW14, Cl. A3	5.209		12/11/38		600,000		597,526
Bear Stearns Commercial Mortgage Securities, Ser. 2007-PW15, Cl. AAB	5.315		02/11/44		650,000		650,813
Centerpoint Energy Transition Bond Co., Ser. 2005-A, Cl. A2	4.970		08/01/14		600,000		597,690
Citigroup Commercial Mortgage Trust, Ser. 2006-C5, Cl. ASB	5.413		10/15/49		1,200,000		1,206,407
Commercial Mortgage PASS-THRU, Ser. 2006-C8, Cl. AAB	5.291		12/10/46		650,000		648,650
Crown Castle Towers, Ser. 2006-1A, Cl. AFX	5.245		11/15/36		600,000		601,355
CSFB, Ser. 2005-C5, Cl. AAB	5.100		08/15/38		1,200,000		1,190,951
FHLMC	5.200		03/05/19		700,000		686,338
FHLMC Gold Pool # A48197	6.500		01/01/36		1,460,286		1,489,216
FHLMC Gold Pool # A56247	6.000		01/01/37		1,940,283		1,955,915
FHLMC Gold Pool # A57135	5.500		02/01/37		1,498,340		1,482,591
FHLMC Gold Pool # J05930	5.500		03/01/21		2,733,803		2,739,582
FHLMC Gold Pool #A11823	5.000		08/01/33		111,044		107,634
FHLMC Gold Pool #A16641	5.500		12/01/33		238,640		236,769
FHLMC Gold Pool #A27124	6.000		10/01/34		129,402		130,784
FHLMC Gold Pool #A28876	6.000		11/01/34		722,227		729,940
FHLMC Gold Pool #A40159	5.500		11/01/35		50,523		50,044
FHLMC Gold Pool #A40754	6.500		12/01/35		670,160		683,859
FHLMC Gold Pool #A41968	5.500		01/01/36		532,267		527,226
FHLMC Gold Pool #A43870	6.500		03/01/36		409,889		418,009
FHLMC Gold Pool #A45624	5.500		06/01/35		54,981		54,460
FHLMC Gold Pool #A49346	6.500		05/01/36		272,263		277,656
FHLMC Gold Pool #A51101	6.000		07/01/36		326,337		328,966
FHLMC Gold Pool #B12969	4.500		03/01/19		230,813		224,143
FHLMC Gold Pool #B19462	5.000		07/01/20		1,105,479		1,091,035
FHLMC Gold Pool #C01086	7.500		11/01/30		70,051		73,297
FHLMC Gold Pool #C01271	6.500		12/01/31		120,227		123,824
FHLMC Gold Pool #C01302	6.500		11/01/31		45,659		47,025
FHLMC Gold Pool #C01676	6.000		11/01/33		5,539,421		5,609,248
FHLMC Gold Pool #C14364	6.500		09/01/28		40,126		41,402
FHLMC Gold Pool #C14872	6.500		09/01/28		5,290		5,458
FHLMC Gold Pool #C20300	6.500		01/01/29		44,986		46,417
FHLMC Gold Pool #C28221	6.500		06/01/29		16,689		17,210
FHLMC Gold Pool #C35377	7.000		01/01/30		8,174		8,509
FHLMC Gold Pool #C41636	8.000		08/01/30		6,196		6,524
FHLMC Gold Pool #C56017	6.500		03/01/31		411,008		423,501
FHLMC Gold Pool #C61802	5.500		12/01/31		738,800		732,962

1

FHLMC Gold Pool #C64936	6.500	03/01/32	$	64,558	$	66,376
FHLMC Gold Pool #C65674	7.000	03/01/32		20,052		20,813
FHLMC Gold Pool #C68790	6.500	07/01/32		313,243		322,064
FHLMC Gold Pool #C74741	6.000	12/01/32		274,778		278,502
FHLMC Gold Pool #C79460	5.500	05/01/33		285,125		282,890
FHLMC Gold Pool #C79886	6.000	05/01/33		555,591		562,768
FHLMC Gold Pool #E00543	6.000	04/01/13		41,535		42,326
FHLMC Gold Pool #E00565	6.000	08/01/13		32,070		32,681
FHLMC Gold Pool #E00957	6.000	02/01/16		58,917		60,006
FHLMC Gold Pool #E01007	6.000	08/01/16		43,422		44,217
FHLMC Gold Pool #E01085	5.500	12/01/16		84,850		85,340
FHLMC Gold Pool #E01136	5.500	03/01/17		222,256		223,336
FHLMC Gold Pool #E01216	5.500	10/01/17		210,456		211,478
FHLMC Gold Pool #E01378	5.000	05/01/18		431,541		426,810
FHLMC Gold Pool #E71048	6.000	07/01/13		1,884		1,920
FHLMC Gold Pool #E72468	5.500	10/01/13		17,484		17,595
FHLMC Gold Pool #E74118	5.500	01/01/14		99,613		100,212
FHLMC Gold Pool #E77035	6.500	05/01/14		48,024		49,247
FHLMC Gold Pool #E77962	6.500	07/01/14		71,232		73,046
FHLMC Gold Pool #E78727	6.500	10/01/14		2,110		2,164
FHLMC Gold Pool #E82543	6.500	03/01/16		63,387		64,986
FHLMC Gold Pool #E85127	6.000	08/01/16		24,493		24,941
FHLMC Gold Pool #E85353	6.000	09/01/16		99,013		100,825
FHLMC Gold Pool #E89823	5.500	05/01/17		272,458		273,782
FHLMC Gold Pool #E90912	5.500	08/01/17		76,912		77,286
FHLMC Gold Pool #E91139	5.500	09/01/17		269,187		270,495
FHLMC Gold Pool #E91646	5.500	10/01/17		561,262		563,990
FHLMC Gold Pool #E92047	5.500	10/01/17		311,575		313,089
FHLMC Gold Pool #E92196	5.500	11/01/17		55,948		56,220
FHLMC Gold Pool #E95159	5.500	03/01/18		384,002		385,774
FHLMC Gold Pool #E95734	5.000	03/01/18		1,858,840		1,838,463
FHLMC Gold Pool #G01091	7.000	12/01/29		47,234		49,168
FHLMC Gold Pool #G02060	6.500	01/01/36		1,824,183		1,861,472
FHLMC Gold Pool #G08016	6.000	10/01/34		2,365,348		2,390,608
FHLMC Gold Pool #G10817	6.000	06/01/13		40,707		41,482
FHLMC Gold Pool #G11753	5.000	08/01/20		805,343		794,820
FHLMC Gold Pool #J01380	5.500	03/01/21		2,591,529		2,597,006
FHLMC Gold Pool TBA	5.500	04/01/33		1,250,000		1,236,719
FHLMC Gold Pool# A44969	6.500	04/01/36		1,306,522		1,332,406
FHLMC Series 2424 Class OG CMO	6.000	03/15/17		1,500,000		1,530,464
FHLMC Series 2835 Class MD CMO	4.500	08/15/19		850,000		802,585
FHLMC Series 2947 Class VA CMO	5.000	03/15/16		749,160		742,856
FHLMC Series 3020 Class VA CMO	5.500	11/15/14		1,724,093		1,738,923
FNMA CMO 2002-86 KM CMO	5.000	12/25/17		2,150,000		2,115,138
FNMA Pool #253798	6.000	05/01/16		2,672		2,721
FNMA Pool #356565	5.500	09/01/17		1,635,775		1,644,339
FNMA Pool #357637	6.000	11/01/34		2,608,478		2,635,585
FNMA Pool #545929	6.500	08/01/32		209,099		215,044
FNMA Pool #555591	5.500	07/01/33		734,751		728,960
FNMA Pool #572020	6.000	04/01/16		47,588		48,459
FNMA Pool #578974	6.000	05/01/16		94,582		96,327
FNMA Pool #579170	6.000	04/01/16		26,953		27,446
FNMA Pool #584953	7.500	06/01/31		15,251		15,957
FNMA Pool #585097	6.000	05/01/16		164,222		167,227
FNMA Pool #651220	6.500	07/01/32		227,225		233,685
FNMA Pool #781776	6.000	10/01/34		286,517		289,495
FNMA Pool #797509	4.500	03/01/35		1,680,638		1,580,198
FNMA Pool #797536	4.500	04/01/35		1,242,930		1,168,648
GNMA CMO 2002-88 GW	5.500	09/20/19		1,000,000		990,774
GNMA Pool #424739	7.500	05/15/26		34,189		35,738
GNMA Pool #443216	8.000	07/15/27		23,153		24,580
GNMA Pool #452827	7.500	02/15/28		28,820		30,118

2

GNMA Pool #457453	7.500	10/15/27	$	8,472	$	8,855
GNMA Pool #479743	7.500	11/15/30		26,356		27,527
GNMA Pool #511723	7.500	10/15/30		51,214		53,490
GNMA Pool #511778	7.500	11/15/30		100,865		105,348
GNMA Pool #529534	8.000	08/15/30		9,317		9,890
GNMA Pool #540356	7.000	05/15/31		101,913		106,602
GNMA Pool #542083	7.000	01/15/31		21,167		22,141
GNMA Pool #552466	6.500	03/15/32		128,359		131,985
GNMA Pool #570323	6.000	02/15/32		36,529		37,109
GNMA Pool #574395	6.000	01/15/32		878,884		892,834
GNMA Pool #577653	6.000	08/15/32		67,089		68,154
GNMA Pool #585467	6.000	08/15/32		218,609		222,079
GNMA Pool #591025	6.500	10/15/32		224,840		231,191
LBUBS Commercial Mortgage Trust, Ser. 2006-C7, Cl. A2	5.300	11/15/38		1,800,000		1,811,093
Merrill Lyynch/CountryWide Commercial Mortgage Trust, Ser. 2007-5, Cl. ASB	5.362	10/12/16		650,000		651,119
Morgan Stanley Capital I, Ser. 2006-IQ12,Cl. AAB	5.325	12/15/43		650,000		650,302
Small Business Administration Participation Certificates, Ser. 2006-10A, Cl. 1	5.524	03/10/16		1,000,000		1,009,767
Small Business Administration Participation Certificates, Ser. 2006-20C, Cl. 1	5.570	03/01/26		958,787		976,662
Vende Mortgage Trust, Ser. 2001-3, Cl. J	6.500	05/15/08		259,301		259,939
						70,377,706
U.S. Government & Agency Obligations (6.8%)
FHLB	5.750	05/15/12		700,000		728,051
FHLMC TBA	5.000	04/15/34		2,500,000		2,415,625
Housing Urban Development	4.850	08/01/11		900,000		899,823
Housing Urban Development	5.670	08/01/16		800,000		818,196
Tennessee Valley Authority	6.250	12/15/17		900,000		986,777
U.S. Treasury Bonds	6.250	08/15/23		550,000		631,426
U.S. Treasury Bonds	5.375	02/15/31		1,450,000		1,545,836
U.S. Treasury Notes	4.250	01/15/11		200,000		198,023
						8,223,757
Corporate Obligations (26.7%)
Auto Rental (0.7%)
ERAC USA Finance Co. Series 144A	5.600	05/01/15		800,000		800,802
Automotive (0.0%)
Daimler Chrysler North America Holdings	7.750	01/18/11		37,000		40,049
Brewery (1.1%)
FBG Finance Ltd. Series 144A	5.875	06/15/35		700,000		641,932
Sabmiller PLC Series 144A	6.500	07/01/16		650,000		686,884
						1,328,816
Chemicals (0.9%)
Chemtura Corp.	6.875	06/01/16		300,000		290,250
Cytec Industries, Inc.	6.000	10/01/15		700,000		706,944
E.I. Du Pont De Nemours Co.	6.875	10/15/09		37,000		38,655
						1,035,849
Commercial Banks (0.6%)
Bank of America Corp.	7.400	01/15/11		37,000		39,867
Bank One Corp.	7.875	08/01/10		37,000		40,041
First Union National Bank	7.800	08/18/10		37,000		39,806
State Street Bank & Trust	5.300	01/15/16		600,000		595,719
US Bank North America	6.375	08/01/11		37,000		38,743
						754,176

3

Commercial Services & Supplies (0.9%)
Waste Management, Inc.	6.875	05/15/09	$	1,100,000	$	1,134,359
Computer - Software (0.6%)
Computer Associates Inc. Series 144A	5.625	12/01/14		700,000		668,590
Consumer Products (0.6%)
Unilever Capital Corp.	7.125	11/01/10		737,000		782,973
E&P Services (0.6%)
Seacor Holdings, Inc.	5.875	10/01/12		805,000		781,345
Electric Utility (2.5%)
Arizona Public Service Co.	6.375	10/15/11		600,000		622,270
Centerpoint Energy	6.500	02/01/08		1,000,000		1,008,116
Entergy Gulf States, Inc.	4.875	11/01/11		650,000		633,371
NiSource Finance Corp.	7.875	11/15/10		37,000		40,102
Potomac Edison Co.	5.350	11/15/14		700,000		688,377
						2,992,236
Energy (0.6%)
Consol Energy, Inc.	7.875	03/01/12		650,000		692,250
Finance Companies (1.3%)
Ford Motor Credit Corp.	7.000	10/01/13		800,000		743,669
General Electric Capital Corp.	7.375	01/19/10		37,000		39,225
Goldman Sachs Group, Inc.	6.875	01/15/11		37,000		39,117
HSBC Finance Corp.	6.750	05/15/11		37,000		38,978
J.P. Morgan Chase & Co.	6.750	02/01/11		37,000		38,909
Merrill Lynch & Co.	6.000	02/17/09		37,000		37,552
SLM Corp.	4.500	07/26/10		700,000		686,006
						1,623,456
Food Products (0.0%)
Kellogg Company	6.600	04/01/11		37,000		38,886
Gas-Distribution (1.3%)
Atmos Energy Corp.	4.950	10/15/14		600,000		569,927
Southwest Gas Corp.	7.625	05/15/12		650,000		702,821
Williams Partners LP, Series 144A	7.250	02/01/17		250,000		264,375
						1,537,123
Health Care Providers & Services (0.5%)
United Healthcare Group	5.250	03/15/11		650,000		652,524
Healthcare Equipment & Supplies (0.8%)
Hospira, Inc.	5.900	06/15/14		1,000,000		993,511
Independent Energy (2.6%)
Chesapeake Energy Corp.	7.750	01/15/15		650,000		677,625
Kerr-Mcgee Corp.	7.125	10/15/27		700,000		737,732
Pioneer Natual Resource	7.200	01/15/28		600,000		570,769
Southwestern Energy Co.	7.125	10/10/17		500,000		504,293
Union Pacific Resources	7.050	05/15/18		600,000		640,966
						3,131,385
Insurance (2.8%)
Allstate Life Global Funding	4.250	02/26/10		700,000		684,688
Metropolitan Life Global Funding Series 144A	4.625	08/19/10		800,000		790,704

4

Nationwide Financial Services	6.250	11/15/11	$	700,000	$	727,607
TIAA Global Markets, Inc. Series 144A	4.875	01/12/11		600,000		595,311
Willis North America, Inc.	6.200	03/28/17		600,000		601,318
						3,399,628
Integrated Energy (0.0%)
Conocophilips Company	8.750	05/25/10		37,000		41,069
Media (0.7%)
Aol Time Warner, Inc.	6.750	04/15/11		37,000		38,993
Cox Communications Series 144A	6.450	12/01/36		750,000		754,872
Viacom, Inc.	6.625	05/15/11		37,000		38,677
						832,542
Medical laboratories (0.5%)
Laboratory Corp of America	5.625	12/15/15		600,000		593,252
Miscellaneous (0.6%)
Inter-American Development Bank	7.375	01/15/10		37,000		39,447
Quebec Province	6.125	01/22/11		37,000		38,500
Southern Star Central Corp.	6.750	03/01/16		650,000		650,000
						727,947
Office Furnishings-Orig (0.6%)
Steelcase, Inc.	6.500	08/15/11		650,000		667,514
Oil & Gas-Production/Pipeline (1.8%)
El Paso Natural Gas	7.625	08/01/10		700,000		730,505
Southern Natural Gas	5.900	04/01/17		650,000		649,995
Transcont Gas Pipe Corp.	8.875	07/15/12		650,000		739,376
						2,119,876
Paper and Forest Products (1.4%)
Abitibi-Consolidated, Inc.	8.850	08/01/30		800,000		712,000
Weyerhaeuser Co.	7.375	03/15/32		900,000		942,819
						1,654,819
Pharmaceuticals (0.6%)
Amerisourcebergen Corp.	5.625	09/15/12		700,000		701,469
Real Estate (0.6%)
Simon Property Group LP	3.750	01/30/09		700,000		683,344
Retail (0.0%)
Wal-Mart	6.875	08/10/09		37,000		38,513
Telecommunication Services (1.5%)
AT&T Wireless Services, Inc.	7.875	03/01/11		37,000		40,486
AT&T Wireless Services, Inc.	6.250	03/15/11		37,000		38,410
British Telecom Plc	8.625	12/15/10		37,000		41,302
Deutsche Telekom International	8.000	06/15/10		37,000		40,109
France Telecom	7.750	03/01/11		37,000		40,311
Sprint Capital Corp.	7.625	01/30/11		37,000		39,780
Sprint Capital Corp.	8.750	03/15/32		800,000		943,615
Verizon Communications	6.940	04/15/28		600,000		632,784
Verizon Global Funding Corp.	7.250	12/01/10		37,000		39,520
						1,856,317
Total corporate obligations (cost: $32,576,873)						32,304,620
Total long-term notes and bonds (cost: $111,408,053)						110,906,083

5

Short-Term Notes and Bonds (4.1%)
Commercial Paper (2.9%)
Consumer Finance (1.7%)
Cadbury Schweppes Finance	5.353	04/09/07	$	2,000,000	$	1,997,840
Utilities- Electric (1.2%)
Virginia Electric & Power Co.	5.384	04/02/07		1,500,000		1,500,000
Total commercial paper (cost: $3,497,432)						3,497,840
Corporate Obligations (1.2%)
Finance Companies (0.6%)
CIT Group, Inc.	5.500	11/30/07		700,000		700,437
Chemicals (0.6%)
Praxair, Inc.	6.625	10/15/07		700,000		704,781
Total corporate obligations (cost: $1,410,213)						1,405,218
Total short-term notes and bonds (cost: $4,907,645)						4,903,058
			Shares
Money Market Mutual Funds (0.2%)
Federated Investors Prime Obligation				94,206		94,206
Goldman Sachs Financial Square Funds				90,000		90,000
Total money market mutual funds (cost: $184,206)						184,206
Mutual Funds (2.9%)
Federated High Yield Bond				18,369		112,972
Fidelity Advisor S-V Floater High Income Fund				252,531		2,515,206
Loomis Sayles Global Bond Fund				47,114		735,927
Neuberger Berman High Income Bond Fund				11,124		103,339
Total mutual funds (cost: $3,452,569)						3,467,444
Total Investments (99.0%) (cost: $119,952,473) (a)						119,460,791
Other assets in excess of liabilities (1.0%)						1,293,948
Net Assets (100.0%)					$	120,754,739

Series 144A securities were purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, series 144A securities are deemed to be liquid.

The interest rate for short-term notes reflects the yields for those securities.

Percentages shown are based on net assets.

(a) The United States federal income tax basis of the Portfolio’s investments and the unrealized appreciation (depreciation) as of March 31, 2007.

					Total Net
					Unrealized
Tax Basis		Appreciation		Depreciation	Depreciation
	$119,967,933		$779,943	$(1,287,085)	$(507,142)

6

OneAmerica Funds, Inc.
ASSET DIRECTOR PORTFOLIO
SCHEDULE OF INVESTMENTS
March 31, 2007 (unaudited)

Description	Shares		Value
Common Stocks (60.8%)
Aerospace & Defense (2.4%)
General Dynamics Corp.		19,000		$	1,451,600
Precision Castparts Corp.		59,800			6,222,190
					7,673,790
Apparel (4.8%)
Columbia Sportswear Co.		77,400			4,822,794
Kellwood Co.		98,600			2,891,938
Liz Claiborne, Inc.		73,800			3,162,330
Wolverine World Wide, Inc.		147,750			4,221,218
					15,098,280
Automotive & Automotive Components (2.4%)
Harley-Davidson, Inc.		68,400			4,018,500
Magna International, Inc. Class A		47,900			3,597,769
					7,616,269
Chemicals (1.1%)
Dow Chemical Co.		80,000			3,668,800
Computer Hardware & Software (4.9%)
Autodesk, Inc. *		101,600			3,820,160
Cisco Systems, Inc.*		206,200			5,264,286
Dell Inc.*		105,500			2,448,655
Hewlett-Packard Co.		103,667			4,161,193
					15,694,294
Consumer Products (0.2%)
Helen of Troy, Ltd.*		25,400			576,834
Diversified Financial Services (6.6%)
Aegon NV		263,386			5,251,916
Citigroup, Inc.		70,028			3,595,238
Federated Investors, Inc.		125,100			4,593,672
Investment Technology Group, Inc.*		77,400			3,034,080
JP Morgan Chase & Co.		51,240			2,478,991
Washington Mutual, Inc.		48,627			1,963,558
					20,917,455
Diversified Manufacturing (5.1%)
Carlisle Cos., Inc.		138,400			5,941,512
Crane Co.		107,500			4,345,150
Illinois Tool Works, Inc.		67,600			3,488,160
Trinity Industries, Inc.		58,975			2,472,232
					16,247,054
Electrical Equipment (2.2%)
Baldor Electric Co.		148,000			5,585,520
FLIR Systems, Inc.*		37,600			1,341,192
					6,926,712
Food & Beverage (1.4%)
The Coca-Cola Co.		91,100			4,372,800
Health Care (4.3%)
Johnson & Johnson		31,300			1,886,138

1

McKesson Corp.	53,000	$	3,102,620
Medtronic, Inc.	26,200		1,285,372
Merck & Co., Inc.	19,900		878,983
Pfizer, Inc.	151,300		3,821,838
Zimmer Holdings, Inc.*	29,900		2,553,759
			13,528,710
Home Furnishings (0.7%)
Furniture Brands International, Inc.	34,350		542,043
La-Z-Boy, Inc.	141,650		1,753,627
			2,295,670
Industrial Conglomerates (1.2%)
General Electric Co.	111,800		3,953,248
Metals & Mining (1.4%)
Alcoa, Inc.	132,500		4,491,750
Oil & Oil Services (4.5%)
Royal Dutch Shell PLC ADR	67,850		4,498,455
Tidewater, Inc.	79,550		4,660,039
Valero Energy Corp.	82,000		5,288,180
			14,446,674
Paper and Forest Products (0.9%)
Wausau Paper Corp.	192,200		2,759,992
Recreation (3.1%)
Brunswick Corp.	142,400		4,535,440
Mattel, Inc.	187,300		5,163,861
			9,699,301
Restaurants (0.4%)
OSI Restaurant Partners, Inc.	33,000		1,303,500
Retail (3.3%)
Bed Bath & Beyond, Inc.*	48,300		1,940,211
Best Buy Co., Inc.*	21,000		1,023,120
BJ’s Wholesale Club, Inc.*	97,000		3,281,510
Home Depot, Inc.	114,400		4,203,056
			10,447,897
Semiconductors (2.9%)
Applied Materials, Inc.	121,800		2,231,376
Intel Corp.	166,600		3,187,058
Texas Instruments, Inc.	125,000		3,762,500
			9,180,934
Telecommunication Services (4.2%)
Nokia Corp. ADR	268,300		6,149,436
Telefonos de Mexico, Class L ADR	213,700		7,137,580
			13,287,016
Transportation (2.8%)
Norfolk Southern Corp.	91,900		4,650,140
Werner Enterprises, Inc.	234,200		4,255,414
			8,905,554
Total common stocks (cost: $138,686,070)			193,092,534

2

	Interest		Maturity	Principal
Description	Rate		Date	Amount		Value
Long-Term Notes and Bonds (23.5%)
Mortgage-Backed and Asset-Backed Securities (13.3%)
Banc of America Commercial Mortgage, Inc., Ser. 2006-5, Cl. AAB	5.379	%	09/10/47	$	500,000	$	502,561
Bear Stearns Commercial Mortgage Securities, Ser. 2006-PW13, Cl. AAB	5.530		09/11/41		700,000		709,048
Bear Stearns Commercial Mortgage Securities, Ser. 2006-PW14, Cl. A3	5.209		12/11/38		400,000		398,351
Bear Stearns Commercial Mortgage Securities, Ser. 2007-PW15, Cl. AAB	5.315		02/11/44		350,000		350,438
Centerpoint Energy Transition Bond Co., Ser. 2005-A, Cl. A2	4.970		08/01/14		400,000		398,460
Citigroup Commercial Mortgage Trust, Ser. 2006-C5, Cl. ASB	5.413		10/15/49		800,000		804,272
Commericial Mortgage PASS-THRU, Ser. 2006-C8, Cl. AAB	5.291		12/10/46		350,000		349,273
Crown Castle Towers, Ser. 2006-1A, Cl. AFX	5.245		11/15/36		400,000		400,903
CSFB, Ser. 2005-C5, Cl. AAB	5.100		08/15/38		800,000		793,967
FHLMC	5.200		03/05/19		300,000		294,145
FHLMC Gold Pool #A42908	6.000		02/01/36		331,090		333,758
FHLMC Gold Pool # A56247	6.000		01/01/37		1,164,169		1,173,549
FHLMC Gold Pool # A57135	5.500		02/01/37		1,997,786		1,976,789
FHLMC Gold Pool #A11823	5.000		08/01/33		504,902		489,399
FHLMC Gold Pool #A14499	6.000		10/01/33		188,661		191,098
FHLMC Gold Pool #A16641	5.500		12/01/33		715,920		710,308
FHLMC Gold Pool #A41968	5.500		01/01/36		274,403		271,805
FHLMC Gold Pool #A48197	6.500		01/01/36		858,293		875,297
FHLMC Gold Pool #A49346	6.500		05/01/36		788,133		803,747
FHLMC Gold Pool #A51101	6.000		07/01/36		429,706		433,168
FHLMC Gold Pool #B12969	4.500		03/01/19		692,438		672,430
FHLMC Gold Pool #B18146	5.000		04/01/20		775,781		765,402
FHLMC Gold Pool #B18179	5.000		04/01/20		1,665,346		1,643,586
FHLMC Gold Pool #B19462	5.000		07/01/20		552,740		545,518
FHLMC Gold Pool #C01086	7.500		11/01/30		15,229		15,934
FHLMC Gold Pool #C01271	6.500		12/01/31		50,095		51,593
FHLMC Gold Pool #C01302	6.500		11/01/31		26,858		27,662
FHLMC Gold Pool #C01676	6.000		11/01/33		1,002,668		1,015,307
FHLMC Gold Pool #C14872	6.500		09/01/28		19,800		20,429
FHLMC Gold Pool #C20853	6.000		01/01/29		604,217		613,723
FHLMC Gold Pool #C56017	6.500		03/01/31		328,906		338,904
FHLMC Gold Pool #C61802	5.500		12/01/31		175,549		174,162
FHLMC Gold Pool #C65255	6.500		03/01/32		27,597		28,374
FHLMC Gold Pool #C65674	7.000		03/01/32		5,013		5,203
FHLMC Gold Pool #C67071	6.500		05/01/32		65,718		67,810
FHLMC Gold Pool #C68790	6.500		07/01/32		104,414		107,355
FHLMC Gold Pool #C74741	6.000		12/01/32		80,817		81,912
FHLMC Gold Pool #C79886	6.000		05/01/33		161,301		163,384
FHLMC Gold Pool #E00543	6.000		04/01/13		27,937		28,469
FHLMC Gold Pool #E00878	6.500		07/01/15		20,328		20,842
FHLMC Gold Pool #E01007	6.000		08/01/16		43,422		44,217
FHLMC Gold Pool #E77962	6.500		07/01/14		26,712		27,392
FHLMC Gold Pool #E85127	6.000		08/01/16		13,996		14,252
FHLMC Gold Pool #E85353	6.000		09/01/16		99,013		100,825
FHLMC Gold Pool #E95159	5.500		03/01/18		144,001		144,665
FHLMC Gold Pool #E95734	5.000		03/01/18		725,401		717,449
FHLMC Gold Pool #G01477	6.000		12/01/32		660,153		668,885
FHLMC Gold Pool #G01727	6.000		08/01/34		1,485,212		1,503,934
FHLMC Gold Pool #G02060	6.500		01/01/36		1,094,510		1,116,883
FHLMC Gold Pool #G08016	6.000		10/01/34		1,182,674		1,195,304
FHLMC Gold Pool #G08087	6.000		10/01/35		304,258		306,901
FHLMC Gold Pool #G11753	5.000		08/01/20		805,343		794,820
FHLMC Gold Pool #J01380	5.500		03/01/21		1,295,765		1,298,503
FHLMC Gold Pool #J05930	5.500		03/01/21		1,254,780		1,257,432
FHLMC Gold Pool TBA	5.500		04/01/33		1,250,000		1,236,719
FHLMC Series 2424 Class OG CMO	6.000		03/15/17		500,000		510,155

3

FHLMC Series 2835 Class MD CMO	4.500	08/15/19	$	150,000	$	141,633
FHLMC Series 2947 Class VA CMO	5.000	03/15/16		428,092		424,489
FHLMC Series 3020 Class VA CMO	5.500	11/15/14		862,047		869,461
FNMA CMO 2002-86 KM CMO	5.000	12/25/17		350,000		344,325
FNMA Pool # 914468	5.500	04/01/37		2,000,000		1,978,980
FNMA Pool #356565	5.500	09/01/17		371,767		373,713
FNMA Pool #357637	6.000	11/01/34		713,169		720,580
FNMA Pool #545929	6.500	08/01/32		97,579		100,354
FNMA Pool #555591	5.500	07/01/33		213,315		211,633
FNMA Pool #574922	6.000	04/01/16		4,339		4,418
FNMA Pool #579170	6.000	04/01/16		37,809		38,501
FNMA Pool #584953	7.500	06/01/31		6,778		7,092
FNMA Pool #651220	6.500	07/01/32		45,445		46,737
FNMA Pool #725793	5.500	09/01/19		1,277,373		1,283,596
FNMA Pool #797509	4.500	03/01/35		1,757,442		1,652,412
FNMA Pool #797536	4.500	04/01/35		891,348		838,078
GNMA Pool #422407	6.500	01/15/26		8,214		8,448
GNMA Pool #424578	6.500	04/15/26		104,253		107,219
GNMA Pool #425983	6.500	03/15/26		22,662		23,307
GNMA Pool #431962	6.500	05/15/26		35,317		36,322
GNMA Pool #436741	7.500	01/15/27		31,683		33,117
GNMA Pool #443216	8.000	07/15/27		12,111		12,858
GNMA Pool #479743	7.500	11/15/30		26,356		27,527
GNMA Pool #511778	7.500	11/15/30		39,469		41,223
GNMA Pool #542083	7.000	01/15/31		105,833		110,702
GNMA Pool #552466	6.500	03/15/32		59,901		61,593
GNMA Pool #555179	7.000	12/15/31		17,051		17,835
GNMA Pool #570323	6.000	02/15/32		14,612		14,844
GNMA Pool #574395	6.000	01/15/32		86,165		87,533
LBUBS Commercial Mortgage Trust, Ser. 2006-C7, Cl. A2	5.300	11/15/38		1,200,000		1,207,395
Merrill Lyynch/CountryWide Commercial Mortgage Trust, Ser. 2007-5, Cl. ASB	5.362	10/12/16		350,000		350,602
Morgan Stanley Capital I, Ser. 2006-IQ12,Cl. AAB	5.325	12/15/43		350,000		350,163
Small Business Administration Participation Certificates, Ser. 2006-10A, Cl. 1	5.524	03/10/16		500,000		504,884
Small Business Administration Participation Certificates, Ser. 2006-20C, Cl. 1	5.570	03/01/26		479,393		488,331
						42,106,576
U.S. Government & Agency Obligations (5.4%)
FHLMC TBA	5.000	04/15/34		1,000,000		966,250
FNMA TBA	5.500	04/01/37		2,000,000		1,985,625
Housing Urban Development	4.850	08/01/11		100,000		99,980
Housing Urban Development	5.670	08/01/16		200,000		204,549
Tennessee Valley Authority	6.250	12/15/17		100,000		109,642
U.S. Treasury Bonds	9.125	05/15/18		200,000		274,922
U.S. Treasury Bonds	6.250	08/15/23		1,050,000		1,205,449
U.S. Treasury Bonds	6.250	05/15/30		225,000		266,572
U.S. Treasury Bonds	5.375	02/15/31		2,200,000		2,345,407
U.S. Treasury Notes	3.375	02/15/08		700,000		690,676
U.S. Treasury Notes	3.875	05/15/09		2,300,000		2,266,489
U.S. Treasury Notes	6.000	08/15/09		300,000		309,363
U.S. Treasury Notes	4.250	01/15/11		100,000		99,012
U.S. Treasury Notes	5.000	02/15/11		200,000		203,430
U.S. Treasury Notes	5.125	06/30/11		1,700,000		1,737,585
U.S. Treasury Notes	4.875	02/15/12		450,000		457,014
U.S. Treasury Notes	3.875	02/15/13		975,000		941,751
U.S. Treasury Notes	4.250	08/15/13		1,450,000		1,425,249
U.S. Treasury Notes	4.625	02/15/17		1,600,000		1,596,750
						17,185,715

4

Corporate Obligations (4.8%)
Auto Rental (0.1%)
ERAC USA Finance Co. Series 144A	5.600	05/01/15	$	200,000	$	200,200
Automotive (0.0%)
Daimler Chrysler North America Holdings	7.750	01/18/11		7,000		7,577
Brewery (0.2%)
FBG Finance Ltd. Series 144A	5.875	06/15/35		300,000		275,114
Sabmiller PLC Series 144A	6.500	07/01/16		350,000		369,861
						644,975
Chemicals (0.2%)
Chemtura Corp.	6.875	06/01/16		200,000		193,500
Cytec Industries, Inc.	6.000	10/01/15		300,000		302,976
E.I. Du Pont De Nemours Co.	6.875	10/15/09		7,000		7,313
						503,789
Commercial Banks (0.1%)
Bank of America Corp.	7.400	01/15/11		7,000		7,542
Bank One Corp.	7.875	08/01/10		7,000		7,575
First Union National Bank	7.800	08/18/10		7,000		7,531
State Street Bank & Trust	5.300	01/15/16		400,000		397,146
US Bank North America	6.375	08/01/11		7,000		7,330
						427,124
Commercial Services & Supplies (0.1%)
Waste Management, Inc.	6.875	05/15/09		300,000		309,371
Computer - Software (0.1%)
Computer Associates Inc. Series 144A	5.625	12/01/14		300,000		286,538
Consumer Products (0.2%)
Unilever Capital Corp.	7.125	11/01/10		507,000		538,626
E&P Services (0.1%)
Seacor Holdings, Inc.	5.875	10/01/12		400,000		388,246
Electric Utility (0.4%)
Arizona Public Service Co.	6.375	10/15/11		400,000		414,846
Centerpoint Energy	6.500	02/01/08		200,000		201,623
Entergy Gulf States, Inc.	4.875	11/01/11		350,000		341,046
NiSource Finance Corp.	7.875	11/15/10		7,000		7,587
Potomac Edison Co.	5.350	11/15/14		300,000		295,019
						1,260,121
Energy (0.1%)
Consol Energy, Inc.	7.875	03/01/12		350,000		372,750
Finance Companies (0.2%)
Citi Financial	6.625	06/01/15		75,000		80,531
Ford Motor Credit Corp.	7.000	10/01/13		200,000		185,917
General Electric Capital Corp.	7.375	01/19/10		7,000		7,421
Goldman Sachs Group, Inc.	6.875	01/15/11		7,000		7,400
HSBC Finance Corp.	6.750	05/15/11		7,000		7,374
J.P. Morgan Chase & Co.	6.750	02/01/11		7,000		7,361
Merrill Lynch & Co.	6.000	02/17/09		7,000		7,104
SLM Corp.	4.500	07/26/10		500,000		490,005
						793,113

5

Food Products (0.0%)
Kellogg Company	6.600	04/01/11	$	7,000	$	7,357
Gas-Distribution (0.2%)
Atmos Energy Corp.	4.950	10/15/14		400,000		379,951
Southwest Gas Corp.	7.625	05/15/12		350,000		378,442
						758,393
Health Care Providers & Services (0.1%)
United Healthcare Group	5.250	03/15/11		350,000		351,359
Healthcare Equipment & Supplies (0.1%)
Hospira, Inc.	5.900	06/15/14		300,000		298,053
Independent Energy (0.4%)
Chesapeake Energy Corp.	7.750	01/15/15		350,000		364,875
Kerr-Mcgee Corp.	7.125	10/15/27		300,000		316,171
Pioneer Natual Resource	7.200	01/15/28		400,000		380,513
Union Pacific Resources	7.050	05/15/18		250,000		267,069
						1,328,628
Insurance (0.7%)
Allstate Life Global Funding	4.250	02/26/10		500,000		489,063
Metropolitan Life Global Funding Series 144A	4.625	08/19/10		500,000		494,192
Nationwide Financial Services	6.250	11/15/11		300,000		311,831
TIAA Global Markets, Inc. Series 144A	4.875	01/12/11		400,000		396,874
Willis North America, Inc.	6.200	03/28/17		400,000		400,878
						2,092,838
Integrated Energy (0.0%)
Conocophilips Company	8.750	05/25/10		7,000		7,770
Media (0.1%)
Aol Time Warner, Inc.	6.750	04/15/11		7,000		7,377
Cox Communications Series 144A	6.450	12/01/36		250,000		251,624
Viacom, Inc.	6.625	05/15/11		7,000		7,317
						266,318
Medical laboratories (0.1%)
Laboratory Corp of America	5.625	12/15/15		400,000		395,501
Office Furnishings-Orig (0.1%)
Steelcase, Inc.	6.500	08/15/11		350,000		359,431
Oil & Gas-Production/Pipeline (0.3%)
El Paso Natural Gas	7.625	08/01/10		300,000		313,074
Southern Natural Gas	5.900	04/01/17		350,000		349,998
Transcont Gas Pipe Corp.	8.875	07/15/12		350,000		398,124
						1,061,196
Paper and Forest Products (0.2%)
Abitibi-Consolidated, Inc.	8.850	08/01/30		200,000		178,000
Weyerhaeuser Co.	7.375	03/15/32		300,000		314,273
						492,273
Pharmaceuticals (0.1%)
Amerisourcebergen Corp.	5.625	09/15/12		300,000		300,630
Real Estate (0.2%)
New Plan Excel Realty Trust	7.400	09/15/09		200,000		210,987
Simon Property Group LP	3.750	01/30/09		300,000		292,862
						503,849

6

Retail (0.0%)
Wal-Mart	6.875		08/10/09	$	7,000	$	7,286
Telecommunication Services (0.3%)
AT&T Wireless Services, Inc.	7.875		03/01/11		7,000		7,660
AT&T Wireless Services, Inc.	6.250		03/15/11		7,000		7,267
British Telecom Plc	8.625		12/15/10		7,000		7,814
Deutsche Telekom International	8.000	(b)	06/15/10		7,000		7,588
France Telecom	7.750		03/01/11		7,000		7,626
Sprint Capital Corp.	7.625		01/30/11		7,000		7,526
Sprint Capital Corp.	8.750		03/15/32		400,000		471,807
Verizon Communications	6.940		04/15/28		350,000		369,124
Verizon Global Funding Corp.	7.250		12/01/10		7,000		7,477
							893,889
Miscellaneous (0.1%)
Inter-American Development Bank	7.375		01/15/10		7,000		7,463
Quebec Province	6.125		01/22/11		7,000		7,284
Southern Star Central Corp.	6.750		03/01/16		375,000		375,000
							389,747
Total corporate obligations (cost: $15,310,160)							15,246,948
Total long-term notes and bonds (cost: $74,772,045)							74,539,239
Short-Term Notes and Bonds (9.3%)
Commercial Paper (6.6%)
Consumer Finance (3.2%)
American Express Credit Corp.	5.310		04/02/07		2,000,000		2,000,000
General Electric Capital Corp.	5.270		05/08/07		2,000,000		1,989,500
Nestle Capital Corp.	5.270		05/03/07		2,000,000		1,990,960
Toyota Motor Credit Corp.	5.330		04/10/07		2,000,000		1,997,640
UBS Finance Delaware, LLC	5.300		04/24/07		2,000,000		1,993,580
							9,971,680
Banks (0.6%)
Bank of America Corp.	5.300		05/03/07		2,000,000		1,990,900
Chemicals (0.3%)
BASF	5.290		04/23/07		1,000,000		996,930
Food Products (0.3%)
Cadbury Schweppes Finance	5.350		04/09/07		1,000,000		998,920
Integrated Energy (0.6%)
Chevron Texaco Corp.	5.250		05/08/07		2,000,000		1,989,500
Transport Services (0.6%)
United Parcel Services, Inc.	5.310		04/10/07		2,000,000		1,997,640
Utilities – Electric (1.0%)
Florida Power & Light Co.	5.130		04/17/07		3,000,000		2,993,370
Total commercial paper (cost: $20,936,524)							20,938,940
Corporate Obligations (2.7%)
Chemicals (1.0%)
E.I. Du Pont De Nemours Co.	6.750		09/01/07		2,400,000		2,412,924
Praxair, Inc.	6.625		10/15/07		600,000		604,098
							3,017,022

7

Cosmetics/Personal Care (0.6%)
The Procter & Gamble Co.	4.750	06/15/07	$	2,000,000	$	1,998,180
Finance Companies (0.1%)
CIT Group, Inc.	5.500	11/30/07		400,000		400,250
Publishing (1.0%)
Gannett Co., Inc.	5.500	04/01/07		3,000,000		3,000,000
Total corporate obligations (cost: $8,417,826)						8,415,452
Total short-term notes and bonds (cost: $29,354,350)						29,354,392
			Shares
Money Market Mutual Funds (4.5%)
Federated Investors Prime Obligation				6,368,272		6,368,272
Goldman Sachs Financial Square Fund				8,032,900		8,032,900
Total money market mutual funds (cost: $14,401,172)						14,401,172
Mutual Funds (2.5%)
Federated High Yield Bond				8,091		49,757
Fidelity Advisor S-V Floater High Income Fund				151,518		1,509,124
iShares GS $ InvesTop Corporate Bond Fund				18,233		1,956,219
iShares Russell 1000 Value Index Fund				8,500		706,690
iShares Trust Russell 1000 Growth Index Fund				57,600		3,205,440
Loomis Sayles Global Bond Fund				23,557		367,963
Neuberger Berman High Income Bond Fund				5,765		53,559
Total mutual funds (cost: $7,235,253)						7,848,752
Cash and Cash Equivalents (0.0%)
BONY Cash Reserve (cost: $74,925)				74,925		74,925
Total Investments (100.6%) (a) (cost: $264,523,815)						319,311,014
Liabilities in excess of other assets (0.6%)						(1,993,371	)
Net Assets (100.0%)					$	317,317,643

Series 144A securities were purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, series 144A securities are deemed to be liquid.

*Non-Income producing securities.

The interest rate for short-term notes reflects the yields for those securities.

Percentages shown are based on net assets:

(a) The United States federal income tax basis of the Portfolio’s investments and the unrealized appreciation (depreciation) as of March 31, 2007.

					Total Net
					Unrealized
Tax Basis		Appreciation		Depreciation	Appreciation
	$264,556,209		$60,714,319	$(5,959,514)		$54,754,805

8

OneAmerica Funds, Inc.
SOCIALLY RESPONSIVE PORTFOLIO
SCHEDULE OF INVESTMENTS
March 31, 2007 (unaudited)

Description	Shares	Value
Common Stocks (86.9%)
Aerospace & Defense (2.8%)
General Dynamics Corp.	350		$	26,740
Precision Castparts Corp.	1,100			114,455
				141,195
Apparel (7.1%)
Columbia Sportswear Co.	1,900			118,389
Kellwood Co.	1,950			57,194
Liz Claiborne, Inc.	1,700			72,845
Wolverine World Wide, Inc.	3,800			108,566
				356,994
Automotive & Automotive Components (3.5%)
Harley-Davidson, Inc.	1,500			88,125
Magna International, Inc. Class A	1,200			90,132
				178,257
Chemicals (1.6%)
Dow Chemical Co.	1,800			82,548
Computer Hardware & Software (7.5%)
Autodesk, Inc. *	2,300			86,480
Cisco Systems, Inc.*	4,750			121,268
Dell Inc.*	3,000			69,630
Hewlett-Packard Co.	2,550			102,357
				379,735
Consumer Products (0.2%)
Helen of Troy, Ltd.*	450			10,220
Diversified Financial Services (9.5%)
Aegon NV	6,177			123,168
Citigroup, Inc.	1,650			84,711
Federated Investors, Inc.	2,850			104,652
Investment Technology Group, Inc.*	1,800			70,560
JP Morgan Chase & Co.	1,150			55,637
Washington Mutual, Inc.	1,050			42,399
				481,127
Diversified Manufacturing (7.8%)
Carlisle Cos., Inc.	3,100			133,082
Crane Co.	2,650			107,113
Illinois Tool Works, Inc.	1,550			79,980
Trinity Industries, Inc.	1,800			75,456
				395,631
Electrical Equipment (2.8%)
Baldor Electric Co.	2,850			107,559
FLIR Systems, Inc.*	1,000			35,670
				143,229
Food & Beverage (2.0%)
The Coca-Cola Co.	2,050			98,400

1

Health Care (4.3%)
McKesson Corp.	1,150	$	67,321
Medtronic, Inc.	500		24,530
Merck & Co., Inc.	1,150		50,796
Zimmer Holdings, Inc.*	875		74,733
			217,380
Home Furnishings (1.3%)
Furniture Brands International, Inc.	1,800		28,404
La-Z-Boy, Inc.	2,900		35,902
			64,306
Industrial Conglomerates (1.9%)
General Electric Co.	2,700		95,472
Metals & Mining (2.1%)
Alcoa, Inc.	3,100		105,090
Oil & Oil Services (7.3%)
Royal Dutch Petroleum PLC ADR	1,700		112,710
Tidewater, Inc.	2,000		117,160
Valero Energy Corp.	2,150		138,654
			368,524
Paper and Forest Products (1.2%)
Wausau Paper Corp.	4,150		59,594
Recreation (4.3%)
Brunswick Corp.	3,300		105,105
Mattel, Inc.	4,150		114,416
			219,521
Retail (5.1%)
Bed Bath & Beyond, Inc.*	1,400		56,238
Best Buy Co., Inc.*	550		26,796
BJ’s Wholesale Club, Inc.*	2,300		77,809
Home Depot, Inc.	2,700		99,198
			260,041
Semiconductors (4.2%)
Applied Materials, Inc.	2,800		51,296
Intel Corp.	3,800		72,694
Texas Instruments, Inc.	3,000		90,300
			214,290
Telecommunication Services (6.2%)
Nokia Corp. ADR	6,450		147,834
Telefonos de Mexico, Class L ADR	4,900		163,660
			311,494
Transportation (4.2%)
Norfolk Southern Corp.	2,250		113,850
Werner Enterprises, Inc.	5,400		98,118
			211,968
Total common stocks (cost: $4,158,816)			4,395,016

	Interest		Maturity	Principal
	Rate		Date	Amount		Value
Short-Term Notes and Bonds (6.9%)
Consumer Finance (6.9%)
Commercial Paper (6.9%)
General Electric Capital Corp.	5.30	%	5/08/07	$	150,000	$	149,213
Toyota Motor Credit Corp.	5.29		4/03/07		200,000		199,970
Total short-term notes and bonds (cost: $349,136)							349,183

2

	Shares		Value
Money Market Mutual Funds (5.5%)
Federated Investors Prime Obligation		140,000	$	140,000
Goldman Sachs Financial Square Fund		140,000		140,000
Total money market mutual funds (cost: $280,000)				280,000
Total Investments (99.3%) (a) (cost: $4,787,952)				5,024,199
Other assets less liabilities (0.7%)				33,757
Net Assets (100.0%)			$	5,057,956

* Non-Income producing securities.

The Interest rate for short-term notes reflects the yields for those securities.

Percentages shown are based on net assets.

(a) The United States federal income tax basis of the Portfolio’s investments and the cost are the same as of March 31, 2007.

3

Notes to Schedules of Investments (unaudited)

Investments

Securities traded on a national or international securities exchange, excluding the NASDAQ national market system, are valued at the last trade price on the primary exchange. Listed securities for which no sale was reported on the valuation date are valued at the mean of the latest bid and ask price. Securities that are principally traded on the NASDAQ national market system are generally valued at the NASDAQ Official Closing Price (“NOCP”). Short-term fixed income securities are valued at amortized cost, which approximates value. Fixed income securities for which representative market quotes are readily available are valued at the latest bid price or the mean of the latest bid and ask price. Any securities for which there are no readily available market quotations and other assets will be valued at their fair value as determined in good faith by the Adviser pursuant to procedures established by and under the supervision of the Board of Directors. Certain securities may be priced using a matrix price as provided by a pricing vendor. U.S. Government obligations are valued at the latest bid price; however, short-term obligations maturing in 60 days or less, when purchased, are valued at amortized cost, which approximates value.

The Money Market Portfolio securities are valued at amortized cost. The Portfolio’s use of the amortized cost method is conditioned on its compliance with certain provisions of Rule 2a-7 of the Investment Company Act of 1940. AUL (the Investment Advisor)is responsible for reviewing this method of valuation to ensure that the Portfolio securities are reflected at their fair value.

Security transactions are recorded on the trade date. Realized gains and losses are determined on specific identification basis.

Discounts and premiums on securities purchased are amortized over the life of the respective securities.

Item 2.     Controls and Procedures.

(a)

The President and Treasurer of the registrant have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) provide reasonable assurances that material information relating to the Fund is made known to them by the appropriate persons, based on their evaluations of these controls and procedures as of a date within 90 days of the filing date of this report.

(b)

There were no significant changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the registrant’s last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3.     Exhibits.

            A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act (17 CFR 270.30a-2(a)), exactly as set forth below: Attached hereto.

SIGNATURES

       Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) OneAmerica Funds, Inc.

By (Signature and Title)*	/s/  Dayton H. Molendorp
	Dayton H. Molendorp
	President

Date     May 30, 2007

       Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title)*	/s/  Dayton H. Molendorp
	Dayton H. Molendorp
	President

Date     May 30, 2007

By (Signature and Title)*	/s/  Constance E. Lund
	Constance E. Lund
	Treasurer

Date	May 30, 2007
*  Print the name and title of each signing officer under his or her signature.