Liberty All-Star(R) Equity Fund October 2013 Monthly Update
Nov 14, 2013 15:20:00 (ET)
Liberty All-Star(R) Equity Fund October 2013 Monthly Update
BOSTON, MA--(Marketwired - Nov 14, 2013) - Below is the October 2013 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA October, 2013
Investment Approach
Fund Style: Large-Cap Core
Fund Strategy: Combines three value-style and two
growth-style
investment managers. Those selected demonstrate a
consistent
investment philosophy, decision making process, continuity
of key
people and above-average long-term results compared
to managers
with similar styles.
Investment Managers:
Value Managers:
Matrix Asset Advisors, Inc.
Pzena Investment Management, LLC
Schneider Capital Management Corporation
Growth Managers:
Cornerstone Capital Management LLC
TCW Investment Management Company
Top 20 Holdings at Month-End
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(31.9% of equity portfolio)
(Rank from previous month)
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1 Google, Inc., Class A (2) 2.5%
2 QUALCOMM, Inc. (1) 2.4%
3 Schlumberger Ltd. (4) 2.1%
4 JPMorgan Chase & Co. (3) 2.1%
5 Salesforce.com, Inc. (5) 1.8%
6 Amazon.com, Inc. (13) 1.6%
7 Citigroup, Inc. (6) 1.6%
8 Morgan Stanley (9) 1.5%
9 Devon Energy Corp. (11) 1.5%
10 Bank of America Corp. (7) 1.5%
11 Hewlett-Packard Co. (17) 1.5%
12 MetLife, Inc. (
1.4%
13 SunTrust Banks, Inc. (12) 1.4%
14 Microsoft Corp. (14) 1.4%
15 American International Group, Inc. (16) 1.4%
16 Visa, Inc., Class A (15) 1.3%
17 Starbucks Corp. (10) 1.3%
18 Chesapeake Energy Corp. (1 1.3%
19 Precision Castparts Corp. (22) 1.2%
20 State Street Corp. (20) 1.1%
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Holdings are subject to change.
Monthly Performance
-------------------------------------- ------------------------------
Performance NAV Market Price Discount
-------------------------------------- ------ ------------ --------
Beginning of month value $6.20 $5.41 12.7%
Distributions (Ex-Date October 30) $0.10 $0.10
End of month value $6.37 $5.72 10.2%
Performance for month 4.54% 7.58%
Performance year-to-date 27.03% 27.94%
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The net asset value (NAV) of a closed-end fund is
the market value of the underlying investments (i.e.,
stocks and bonds) in the Fund's portfolio, minus liabilities,
divided by the total number of Fund shares outstanding.
However, the Fund also has a market price; the value
at which it trades on an exchange. If the market price
is above the NAV the Fund is trading at a premium.
If the market price is below the NAV the Fund is trading
at a discount.
Returns for the Fund are total returns, which include
dividends, after deducting Fund expenses. The Fund's
performance is calculated assuming that a shareholder
reinvested all distributions and exercised all primary
rights in the Fund's rights offerings. Past performance
cannot predict future investment results.
Performance will fluctuate with changes in market
conditions. Current performance may be lower or higher
than the performance data shown. Performance information
shown does not reflect the deduction of taxes that
shareholders would pay on Fund distributions or the
sale of Fund shares. Shareholders must be willing
to tolerate significant fluctuations in the value
of their investment. An investment in the Fund involves
risk, including loss of principal.
Net Assets at Month-End ($millions)
----------------------------------------------------
Total $1,111.6
Equities $1,090.0
Percent Invested 98.1%
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Sector Breakdown (% of equity portfolio)*
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Financials 25.2%
Information Technology 18.9%
Consumer Discretionary 15.6%
Energy 15.0%
Health Care 10.2%
Industrials 7.3%
Consumer Staples 4.9%
Materials 2.3%
Utilities 0.6%
Total Market Value 100.0%
------------------------------------------ --------
*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings
-------------------
Comerica, Inc. Holdings Liquidated
----------------------
General Motors Co. Northrop Grumman Corp.
News Corp., Class A
Contact Information:
Liberty All-Star Equity Fund
1-800-241-1850
www.all-starfunds.com
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