Liberty All-Star(R) Equity Fund February 2014 Monthly Update
Mar 11, 2014 15:35:00 (ET)
Liberty All-Star(R) Equity Fund February 2014 Monthly Update
BOSTON, MA--(Marketwired - Mar 11, 2014) - Below is the February 2014 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA February, 2014
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
------------------------------------------------ ---------------
(30.5% of equity portfolio)
(Rank from previous month)
--- ------------------------------------------- ---------------
1 Google, Inc., Class A (1) 2.5%
--- ------------------------------------------- ---------------
2 JPMorgan Chase & Co. (3) 2.1%
--- ------------------------------------------- ---------------
3 Schlumberger Ltd. (4) 2.1%
--- ------------------------------------------- ---------------
4 Salesforce.com, Inc. (2) 2.0%
--- ------------------------------------------- ---------------
5 Bank of America Corp. (5) 1.7%
--- ------------------------------------------- ---------------
6 Amazon.com, Inc. (7) 1.6%
--- ------------------------------------------- ---------------
7 Hewlett-Packard Co. (6) 1.6%
--- ------------------------------------------- ---------------
8 Citigroup, Inc. (
1.5%
--- ------------------------------------------- ---------------
9 SunTrust Banks, Inc. (9) 1.5%
--- ------------------------------------------- ---------------
10 Visa, Inc., Class A (11) 1.4%
--- ------------------------------------------- ---------------
11 MetLife, Inc. (13) 1.4%
--- ------------------------------------------- ---------------
12 QUALCOMM, Inc. (12) 1.4%
--- ------------------------------------------- ---------------
13 Starbucks Corp. (14) 1.4%
--- ------------------------------------------- ---------------
14 Morgan Stanley (10) 1.3%
--- ------------------------------------------- ---------------
15 Devon Energy Corp. (16) 1.3%
--- ------------------------------------------- ---------------
16 American International Group, Inc. (15) 1.2%
--- ------------------------------------------- ---------------
17 Weatherford International Ltd. (2 1.2%
--- ------------------------------------------- ---------------
18 Microsoft Corp. (1 1.1%
--- ------------------------------------------- ---------------
19 Toll Brothers, Inc. (21) 1.1%
--- ------------------------------------------- ---------------
20 TE Connectivity Ltd. (19) 1.1%
--- ------------------------------------------- ---------------
Holdings are subject to change.
Monthly Performance
------------------------------------------ --------------------------------
Performance NAV Market Price Discount
------------------------------------------ -------- ------------ --------
Beginning of month value $6.39 $5.63 11.9%
----------------------------------------- -------- ------------ --------
Distributions - -
----------------------------------------- -------- ------------ --------
End of month value $6.70 $5.99 10.6%
----------------------------------------- -------- ------------ --------
Performance for month 4.85% 6.39%
----------------------------------------- -------- ------------ --------
Performance year-to-date 1.57% 2.06%
----------------------------------------- -------- ------------ --------
The net asset value (NAV) of a closed-end fund is
the market value of the underlying investments (i.e.,
stocks and bonds) in the Fund's portfolio, minus liabilities,
divided by the total number of Fund shares outstanding.
However, the Fund also has a market price; the value
at which it trades on an exchange. If the market price
is above the NAV the Fund is trading at a premium.
If the market price is below the NAV the Fund is trading
at a discount.
Returns for the Fund are total returns, which include
dividends, after deducting Fund expenses. The Fund's
performance is calculated assuming that a shareholder
reinvested all distributions. Past performance cannot
predict future investment results.
Performance will fluctuate with changes in market
conditions. Current performance may be lower or higher
than the performance data shown. Performance information
shown does not reflect the deduction of taxes that
shareholders would pay on Fund distributions or the
sale of Fund shares. Shareholders must be willing
to tolerate significant fluctuations in the value
of their investment. An investment in the Fund involves
risk, including loss of principal.
Past performance cannot predict future
results
Returns calculated assuming distributions reinvested
Net Assets at Month-End ($millions)
----------------------------------------------------
Total $1,175.9
----------------------------------------- --------
Equities $1,160.9
----------------------------------------- --------
Percent Invested 98.7%
----------------------------------------- --------
Sector Breakdown (% of equity portfolio)*
------------------------------------------ -------- ------------
Financials 26.7%
----------------------------------------- -------- ------------
Information Technology 18.7%
----------------------------------------- -------- ------------
Consumer Discretionary 15.8%
----------------------------------------- -------- ------------
Energy 14.1%
----------------------------------------- -------- ------------
Health Care 10.5%
----------------------------------------- -------- ------------
Industrials 6.7%
----------------------------------------- -------- ------------
Consumer Staples 4.9%
----------------------------------------- -------- ------------
Materials 2.1%
----------------------------------------- -------- ------------
Utilities 0.5%
----------------------------------------- -------- ------------
Total Market Value 100.0%
------------------------------------------ -------- ------------
*Based on Standard & Poor's and MSCI Barra
Global Industry Classification Standard
(GICS).
New Holdings Holdings
Liquidated
------------------------------------ ---------------------------------
Eaton Corp. PLC
The Estee Lauder Cos., Inc., Class A Camden Property Trust
Lululemon Athletica, Inc. Dick's Sporting Goods, Inc.
ServiceNow, Inc. Express Scripts Holding Co.
Tesla Motors, Inc. Philip Morris International, Inc.
WellPoint, Inc. Ralph Lauren Corp.
WhiteWave Foods Co., Class A WR Berkley Corp.
Contact Information:
Liberty All-Star Equity Fund
1-800-241-1850
www.all-starfunds.com
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