Liberty All-Star® Equity Fund February 2018 Update

Share Article

The February 2018 Monthly Update for the Liberty All-Star Equity Fund. (NYSE: USA)

Below is the February 2018 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

Liberty All-Star Equity Fund            
Ticker: USA    
Monthly Update, February, 2018    

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:            
Aristotle Capitol Management, LLC            
Macquarie Investment Management            
Pzena Investment Management, LLC            

Growth Managers:            
Sustainable Growth Advisers, LP            
TCW Investment Management Company            

Top 20 Holdings at Month-End            
    (30.3% of equity portfolio)            
1, Inc.        2.3%
2    Visa, Inc., Class A        2.2%
3    Alphabet, Inc., Class C    2.2%
4    Adobe Systems, Inc.        2.1%
5, Inc.        2.1%
6    Facebook, Inc., Class A    1.9%
7    Mondelez International, Inc., Class A 1.6%
8    Bank of America Corp.    1.5%
9    PayPal Holdings, Inc.    1.4%
10    Halliburton Co.                1.3%
11    Equinix, Inc.            1.3%
12    Oracle Corp.            1.3%
13    Booking Holdings, Inc.    1.2%
14    The Home Depot, Inc.     1.2%
15    Starbucks Corp.        1.2%
16    JPMorgan Chase & Co.    1.1%
17    Lowe's Companies, Inc.    1.1%
18    Chubb Ltd.            1.1%
19    DowDuPont, Inc.         1.1%
20    Capital One Financial Corp.1.1%
Holdings are subject to change.        

Monthly Performance                     
Beginning of month value: $7.12 NAV, $6.54 Market Price, -8.1% Discount                         
End of month value: $6.82 NAV, $6.25 Market Price, -8.4% Discount
Performance for month: -4.21% NAV, -4.43% Market Price,     
Performance year-to-date: 2.10% NAV, 2.04%Market Price,     

Net Assets at Month-End ($millions)            
Total                 $1,320.3
Equities             $1,325.6
Percent Invested    100.4%        

Sector Breakdown (% of equity portfolio)*            
Information Technology        25.1%
Financials                        17.0%
Health Care                14.7%
Consumer Discretionary        14.2%
Energy                    7.8%
Industrials                6.2%
Consumer Staples            6.1%
Materials                        3.6%
Real Estate                2.8%
Utilities                        1.4%
Telecommunication Services    1.1%
Total Market Value            100.0%    
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).            

New Holdings            
Praxair, Inc.

Holdings Liquidated
Allergan PLC
Chipotle Mexican Grill, Inc.
Core Laboratories NV
First Republic Bank
Hilton Worldwide Holdings, Inc.

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.

Performance returns for the Fund are total returns, which includes dividends, and are net of management fees and other Fund expenses. Returns are 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 can include ordinary dividends, 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 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. 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.    

Liberty All-Star® Equity Fund

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Liberty All-Star® Equity Fund

Email >
Visit website