Premium /
Performance NAV Market Price (Discount)
----------- --- ------------ ----------
Beginning of month value $8.82 $8.22 (6.8%)
Distributions - -
End of month value $8.92 $8.31 (6.8%)
Performance for month 1.1% 1.1%
Performance year-to-date 10.1% 8.5%
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XUSAX. Past performance cannot predict future results.
---------------------------------------------------------------------------
Net Assets at Month-End ($millions)
-----------------------------------
Total $1,433.9
Equities $1,375.0
Percent Invested in Equities 95.9%
---------------------------------------------------------------------------
Top 20 Holdings at Month-End (31.9% of equity portfolio)
--------------------------------------------------------
(Rank from previous month)
1 Microsoft (15) 2.4% 11 Google (8) 1.4%
2 Schlumberger (1) 2.4% 12 Bank of America (9) 1.4%
3 Citigroup (2) 2.2% 13 Pfizer (14) 1.4%
4 Freddie Mac (4) 1.9% 14 Consol Energy (22) 1.4%
5 Fannie Mae (3) 1.7% 15 Salesforce.com (18) 1.4%
6 Cisco Systems (6) 1.7% 16 Teva Pharmaceutical Ind. (13) 1.3%
7 Wal-Mart (5) 1.7% 17 Annaly Capital Management (17) 1.3%
8 Dell (11) 1.6% 18 Oracle (19) 1.3%
9 General Electric (7) 1.5% 19 Amazon.com (16) 1.2%
10 QUALCOMM (10) 1.5% 20 Arch Coal (39) 1.2%
Holdings are subject to change
---------------------------------------------------------------------------
Sector Breakdown (% of equity portfolio)* New Holdings
---------------------------------------- ------------
Information Technology 24.9% Aetna
Financials 20.4% Berkshire Hathaway
Health Care 13.0% Freeport-McMoRan Copper & Gold
Industrials 12.2% J.B. Hunt Transport Services
Consumer Discretionary 9.6% MGIC Investment
Energy 9.3% NVR
Consumer Staples 4.0% PMI Group
Materials 2.9%
Telecommunication Holdings Liquidated
Services 1.9% -------------------
Utilities 1.8% China Mobile
------ Commerce Bancorp
100.0% Exxon Mobil
H&R Block
MBIA
NVIDIA
PharMerica
St. Jude Medical
* 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