February 2007 Monthly Update
Premium /
Performance NAV Market Price (Discount)
----------- ------ ------------ ----------
Beginning of month value $ 8.89 $ 8.48 (4.6%)
Distributions (Ex-Date February 28) $ 0.23 $ 0.23
End of month value $ 8.52 $ 8.33 (2.2%)
Performance for month (1.6%) 0.9%
Performance year-to-date (0.1%) 3.3%
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. Daily NAV is available under the symbol XUSAX.
Net Assets at Month-End ($millions)
-----------------------------------
Total $ 1,334.3
Equities $ 1,295.1
Percent Invested in Equities 97.1%
Top 20 Holdings at Month-End (31.0% of equity portfolio)
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(Rank from previous month)
1 JPMorgan Chase (2) 2.2% 11 QUALCOMM (16) 1.5%
2 Fannie Mae (4) 2.1% 12 MetLife (13) 1.4%
3 Countrywide Financial (3) 2.0% 13 Tyco International (10) 1.4%
4 Citigroup (5) 1.7% 14 Cisco Systems (12) 1.4%
5 Wal-Mart (7) 1.7% 15 General Electric (18) 1.4%
6 Reliant Energy (11) 1.7% 16 Microsoft (1) 1.4%
7 Johnson & Johnson (9) 1.6% 17 Schlumberger (19) 1.3%
8 Pfizer (6) 1.6% 18 Network Appliance (21) 1.3%
9 American International Group (8) 1.5% 19 Google (15) 1.2%
10 Freddie Mac (14) 1.5% 20 Progressive (22) 1.1%
Sector Breakdown (% of equity portfolio) * New Holdings
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Financials 26.5% Accenture
Information Technology 19.2% Arch Coal
Health Care 13.6% China Mobile
Consumer Discretionary 13.2% Kraft Foods
Industrials 12.3% Precision Castparts
Energy 5.6% Radian Group
Consumer Staples 4.7%
Utilities 2.5% Holdings Liquidated
Telecommunication Services 1.5% -------------------
Materials 0.9% Adobe Systems
----- Ross Stores
100.0%
* Based on Standard & Poor's and Morgan Stanley Capital International
Global Industry Classification Standard (GICS).
Contact Information: Contact: Liberty All-Star® Equity Fund 617-426-1745 www.all-starfunds.com