January 2010 Monthly Update Performance NAV Market Price Discount ----------- ------- ----------------- ----------- Beginning of month value $ 5.23 $ 4.33 17.2% Distributions - - End of month value $ 5.05 $ 4.18 17.2% Performance for month (3.44%) (3.46%) Performance year-to-date (3.44%) (3.46%) For daily data visit the Fund's website at www.all-starfunds.com or call 1-800-241-1850. The Fund's daily NAV is also available by using the symbol XUSAX. Past performance cannot predict future results. --------------------------------------------------------------------------- Net Assets at Month-End ($millions) ---------------------------------- Total $ 922.2 Equities $ 913.3 Percent Invested 99.0% --------------------------------------------------------------------------- Top 20 Holdings at Month-End (28.6% of portfolio) ------------------------------------------------ (Rank from previous month) 1 Apple, Inc. (1) 2.3% 11 The Boeing Co.(15) 1.3% 2 Bank of America Corp. (2) 2.2% 12 The Allstate Corp.(11) 1.3% 3 Dell, Inc. (3) 1.9% 13 Magna International, Inc., 4 Google, Inc., Class A (4) 1.8% Class A (14) 1.2% 5 Gilead Sciences, Inc. (6) 1.8% 14 Hewlett-Packard Co.(12) 1.1% 6 QUALCOMM, Inc. (5) 1.7% 15 Arch Coal, Inc.(13) 1.1% 7 PNC Financial Services 16 Tyco Electronics Ltd. (19) 1.1% Group, Inc. (9) 1.5% 17 J.C. Penney Co., Inc.(30) 1.1% 8 Forest Oil Corp. (10) 1.4% 18 Microsoft Corp.(16) 1.0% 9 Chesapeake Energy Corp.(8) 1.4% 19 Wells Fargo & Co.(73) 1.0% 10 Monsanto Co. (7) 1.4% 20 JPMorgan Chase & Co. (17) 1.0% Holdings are subject to change --------------------------------------------------------------------------- Sector Breakdown (% of portfolio) * New Holdings ---------------------------------- ------------ Information Technology 21.9% Baidu, Inc. Financials 19.5% Cooper Industries Plc Energy 13.0% EQT Corp. Consumer Discretionary 12.9% Scripps Networks Interactive, Health Care 11.6% Inc., Class A Industrials 9.6% Consumer Staples 6.2% Holdings Liquidated Utilities 2.8% ----------------- Materials 2.5% Omnicare, Inc. ----- Patterson-UTI Energy, Inc. 100.0% Time Warner, Inc. Union Pacific Corp. * Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS). The Liberty All-Star Equity Fund is a closed-end fund and does not continuously offer shares.
Contact Information: Contact Information: Liberty All-Star Equity Fund 1-800-241-1850 www.all-starfunds.com