September 2007 Monthly Update
Market Premium /
Performance NAV Price (Discount)
----------- ----------- ----------- ------------
Beginning of month value $ 8.52 $ 8.28 (2.8%)
Distributions - -
End of month value $ 8.82 $ 8.22 (6.8%)
Performance for month 3.6% (0.7%)
Performance year-to-date 8.9% 7.3%
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 $ 1,416.9
Equities $ 1,373.8
Percent Invested in Equities 97.0%
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Top 20 Holdings at Month-End (30.6% of equity portfolio)
--------------------------------------------------------
(Rank from previous month)
1 Schlumberger (2) 2.6% 11 Dell (10) 1.4%
2 Citigroup (1) 2.4% 12 Johnson & Johnson (16) 1.4%
3 Fannie Mae (4) 1.8% 13 Teva Pharmaceutical Industries (14) 1.4%
4 Freddie Mac (6) 1.6% 14 Pfizer (11) 1.4%
5 Wal-Mart (5) 1.6% 15 Microsoft (3) 1.4%
6 Cisco Systems (7) 1.6% 16 Amazon.com (18) 1.3%
7 General Electric (8) 1.5% 17 Annaly Capital Management (19) 1.2%
8 Google (15) 1.5% 18 Salesforce.com (24) 1.2%
9 Bank of America (9) 1.5% 19 Oracle (13) 1.2%
10 QUALCOMM (12) 1.4% 20 3M (50) 1.2%
Holdings are subject to change
Sector Breakdown (% of equity portfolio) * New Holdings
--------------------------------------- -------------------
Information Technology 23.1% Becton Dickinson
Financials 22.3% Nokia
Industrials 13.1% Qimonda
Health Care 12.6% Transocean
Consumer Discretionary 9.8%
Energy 9.3% Holdings Liquidated
Consumer Staples 3.9% -------------------
Telecommunication Services 2.2% Garmin
Materials 2.0%
Utilities 1.7%
-----
100.0%
* 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