Liberty All-Star(R) Equity Fund January 2015 Update
Feb 19, 2015 09:45:00 (ET)
Liberty All-Star(R) Equity Fund January 2015 Update
BOSTON, MA--(Marketwired - Feb 19, 2015) - Below is the January 2015 Monthly Update for the Liberty All-Star(R) Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund Monthly Update
Ticker: USA January, 2015
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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(29.1% of equity portfolio)
(Rank from previous month)
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1 State Street Corp. (3) 2.2%
2 Salesforce.com, Inc. (2) 2.1%
3 JPMorgan Chase & Co. (1) 2.1%
4 Starbucks Corp. (7) 1.8%
5 Citigroup, Inc. (4) 1.7%
6 Google, Inc., Class A & C (5) 1.7%
7 Visa, Inc., Class A (6) 1.6%
8 SunTrust Banks, Inc. (
1.5%
9 Hewlett-Packard Co. (9) 1.4%
10 Facebook, Inc., Class A (14) 1.4%
11 Schlumberger Ltd. (19) 1.4%
12 Marriott International, Inc., Class A (15) 1.3%
13 MetLife, Inc. (11) 1.3%
14 American International Group, Inc. (10) 1.2%
15 QUALCOMM, Inc. (13) 1.1%
16 Microsoft Corp. (16) 1.1%
17 Amazon.com, Inc. (20) 1.1%
18 Morgan Stanley (1 1.1%
19 American Tower Corp. (21) 1.0%
20 Cerner Corp. (25) 1.0%
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Holdings are subject to change.
Monthly Performance
----------------------------------- ------------------------------
Performance NAV Market Price Discount
----------------------------------- ------ ------------ --------
Beginning of month value $6.84 $5.98 12.6%
----------------------------------- ------ ------------ --------
Distributions (Ex-Date January 21) $0.10 $0.10
----------------------------------- ------ ------------ --------
End of month value $6.41 $5.57 13.1%
----------------------------------- ------ ------------ --------
Performance for month -4.60% -5.18%
----------------------------------- ------ ------------ --------
Performance year-to-date -4.60% -5.18%
----------------------------------- ------ ------------ --------
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 http://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)
--------------------------------------
Total $1,147.3
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Equities $1,126.4
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Percent Invested 98.2%
------------------------- -----------
Sector Breakdown (% of equity portfolio)*
---------------------------------------------------------
Financials 28.0%
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Information Technology 20.7%
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Consumer Discretionary 17.2%
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Health Care 13.1%
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Energy 10.9%
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Industrials 5.4%
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Consumer Staples 4.0%
----------------------------------------- ----------
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
----------------------------- -----------------------------------
Church & Dwight Co., Inc. Cobalt International Energy, Inc.
Mobileye N.V. Delphi Automotive PLC
SM Energy Co. Las Vegas Sands Corp.
Under Armour, Inc., Class A Tesla Motors, Inc.
United Rentals, Inc.
Contact Information:
Liberty All-Star Growth Fund, Inc.
1-800-241-1850
www.all-starfunds.com
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