June 2008 Monthly Update
Premium /
Performance NAV Market Price (Discount)
----------- ----- ------------ ----------
Beginning of month value $7.38 $6.57 (11.0%)
Distributions - -
End of month value $6.65 $5.87 (11.7%)
Performance for month (9.9%) (10.7%)
Performance year-to-date (13.2%) (11.7%)
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XUSAX. Past performance cannot predict future results.
Net Assets at Month-End ($millions)
-----------------------------------
Total $1,188.5
Equities $1,142.3
Preferred Stocks & Convertible Bonds $5.8
Percent Invested 96.6%
Top 20 Holdings at Month-End (27.9% of portfolio)
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(Rank from previous month)
1 QUALCOMM, Inc. (3) 2.2% 11 Google, Inc., Class A (12) 1.2%
2 Wal-Mart Stores, Inc. (1) 2.2% 12 Amazon.com, Inc. (14) 1.2%
3 Arch Coal, Inc. (5) 1.9% 13 Salesforce.com (20) 1.2%
4 Citigroup, Inc. (4) 1.8% 14 Schlumberger Ltd. (10) 1.1%
5 Dell, Inc. (6) 1.6% 15 Staples, Inc. (60) 1.1%
6 Devon Energy Corp. (9) 1.6% 16 Capital One Financial Corp.(17) 1.1%
7 Freddie Mac (2) 1.5% 17 Navistar International
Corp.(11) 1.0%
8 Annaly Capital
Management, Inc. (8) 1.5% 18 Costco Wholesale Corp. (99) 1.0%
9 Fannie Mae (7) 1.4% 19 McDonald's Corp. (25) 1.0%
10 Microsoft Corp. (18) 1.3% 20 Amgen, Inc. (37) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
--------------------------------- ------------------------------------
Information Technology 23.6% ABB Ltd.
Financials 19.5% Cognizant Technology Solutions Corp.
Health Care 13.7% The Goldman Sachs Group, Inc.
Consumer Discretionary 12.9% Marvell Technology Group Ltd.
Energy 10.8% Mattel, Inc.
Industrials 8.8% Smithfield Foods, Inc.
Consumer Staples 6.9% Valero Energy Corp.
Materials 2.2% Willis Group Holdings Ltd.
Utilities 1.6%
100.0%
Holdings Liquidated
------------------------------------
Archer-Daniels-Midland Co.
Celestica, Inc.
China Mobile Ltd.
Countrywide Financial Corp.
CSX Corp.
Taiwan Semiconductor Manufacturing
Co. Ltd.
Washington Mutual, Inc. (Preferred
Stock)
* 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: For Information Contact: Liberty All-Star® Equity Fund 1-800-241-1850 www.all-starfunds.com