Liberty All-Star(R) Equity Fund December 2014 Update
Jan 14, 2015 08:26:00 (ET)
Liberty All-Star(R) Equity Fund December 2014 Update
BOSTON, MA--(Marketwired - Jan 14, 2015) - Below is the December 2014 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA December, 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
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(30.3% of equity portfolio)
(Rank from previous month)
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1 JPMorgan Chase & Co. (2) 2.2%
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2 Salesforce.com, Inc. (3) 2.1%
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3 State Street Corp. (4) 2.0%
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4 Citigroup, Inc. (5) 1.8%
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5 Google, Inc., Class A & C (1) 1.8%
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6 Visa, Inc., Class A (6) 1.8%
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7 Starbucks Corp. (7) 1.6%
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8 SunTrust Banks, Inc. (9) 1.6%
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9 Hewlett-Packard Co. (
1.5%
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10 American International Group, Inc. (11) 1.4%
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11 MetLife, Inc. (10) 1.4%
--- ----------------------------------------------------- -----
12 Precision Castparts Corp. (12) 1.4%
--- ----------------------------------------------------- -----
13 QUALCOMM, Inc. (13) 1.3%
--- ----------------------------------------------------- -----
14 Facebook, Inc., Class A (17) 1.3%
--- ----------------------------------------------------- -----
15 Marriott International, Inc., Class A (14) 1.3%
--- ----------------------------------------------------- -----
16 Microsoft Corp. (16) 1.2%
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17 Bank of America Corp. (19) 1.2%
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18 Morgan Stanley (21) 1.2%
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19 Schlumberger Ltd. (1 1.2%
--- ----------------------------------------------------- -----
20 Amazon.com, Inc. (20) 1.0%
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Monthly Performance
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Performance NAV Market Price Discount
-------------------------- ----- ------------ --------
Beginning of month value $6.83 $5.99 12.3%
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Distributions - -
------------------------- ----- ------------ --------
End of month value $6.84 $5.98 12.6%
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Performance for month 0.15% -0.17%
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Performance year-to-date 8.87% 6.98%
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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. 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.
Sources of distributions to shareholders may include
net investment income, net realized short-term capital
gains, net realized long-term capital gains and return
of capital. The actual amounts and sources of the
amounts for tax reporting purposes will depend upon
the Fund's investment experience during the remainder
of its fiscal year and may be subject to changes based
on tax regulations. If a distribution includes anything
other than net investment income, the fund provides
a Section 19(a) notice of the best estimate of its
distribution sources at that time, available at www.all-starfunds.com.
These estimates may not match the final tax characterization
(for the full year's distributions) contained in shareholders'
1099-DIV forms after the end of the year.
Net Assets at Month-End ($millions)
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Total $1,224.7
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Equities $1,197.0
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Percent Invested 97.7%
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Sector Breakdown (% of equity portfolio)*
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Financials 29.2%
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Information Technology 20.6%
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Consumer Discretionary 16.8%
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Health Care 12.1%
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Energy 10.6%
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Industrials 6.3%
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Consumer Staples 3.7%
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Materials 0.6%
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Utilities 0.1%
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Total Market Value 100.0%
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*Based on Standard & Poor's and MSCI Barra Global
Industry Classification Standard (GICS).
New Holdings Holdings Liquidated
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The Home Depot, Inc. Becton, Dickinson & Co.
Stanley Black & Decker, Inc. CME Group, Inc.
Dril-Quip, Inc.
eBay, Inc.
General Motors Co.
Kate Spade & Co.
Navistar International Corp.
Shutterfly, Inc.
VMware, Inc., Class A
Contact Information:
Liberty All-Star Growth Fund, Inc.
1-800-241-1850
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