August 2007 Monthly Update
Market Premium /
Performance NAV Price (Discount)
----------- ---------- ---------- ----------
Beginning of month value $ 8.69 $ 8.71 0.2%
Distributions (Ex-Date August 8) $ 0.22 $ 0.22
End of month value $ 8.52 $ 8.28 (2.8%)
Performance for month 0.6% (2.4%)
Performance year-to-date 5.0% 8.0%
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)
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Total $ 1,350.3
Equities $ 1,325.7
Percent Invested in Equities 98.2%
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Top 20 Holdings at Month-End (32.0% of equity portfolio)
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(Rank from previous month)
1 Citigroup (1) 2.5% 11 Pfizer (16) 1.4%
2 Schlumberger (3) 2.5% 12 QUALCOMM (10) 1.4%
3 Microsoft (2) 2.3% 13 Oracle (14) 1.4%
4 Fannie Mae (4) 2.0% 14 Teva Pharmaceutical Industries (18) 1.4%
5 Wal-Mart (7) 1.7% 15 Google (17) 1.4%
6 Freddie Mac (9) 1.7% 16 Johnson & Johnson (21) 1.4%
7 Cisco Systems (6) 1.6% 17 Countrywide Financial (5) 1.2%
8 General Electric (12) 1.6% 18 Amazon.com (11) 1.2%
9 Bank of America (15) 1.5% 19 Annaly Capital Management (20) 1.2%
10 Dell (13) 1.5% 20 Navistar International (19) 1.1%
Holdings are subject to change
Sector Breakdown (% of equity portfolio) * New Holdings
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Information Technology 23.7% Express Scripts
Financials 22.8% IntercontinentalExchange
Industrials 12.8% iStar Financial
Health Care 12.6% National Oilwell Varco
Consumer Discretionary 9.7% Novellus
Energy 8.7% Office Depot
Consumer Staples 3.7% PharMerica
Telecommunication Services 2.4% Redwood Trust
Materials 1.8%
Utilities 1.8% Holdings Liquidated
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100.0% AON
Disney
Franklin Resources
GameStop
Gilead Sciences
IndyMac Bancorp
Peabody Energy
SLM
Southwest Airlines
Union Pacific
Weatherford International
Wells Fargo
Zimmer Holdings
* Based on Standard & Poor's and Morgan Stanley Capital International
Global Industry Classification Standard (GICS).
The Liberty All-Star Equity Fund is a closed-end fund and does not
continuously offer shares.
Contact Information: For Information Contact: Liberty All-Star Equity Fund 617-426-1745 www.all-starfunds.com