November 2008 Monthly Update
Performance NAV Market Price Discount
----------- ----- ------------ ----------
Beginning of month value $3.54 $2.99 15.5%
Distributions - -
End of month value $3.24 $2.45 24.4%
Performance for month (8.5%) (18.1%)
Performance year-to-date (41.9%) (55.4%)
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XASGX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $95.5
Equities $92.8
Percent Invested in Equities 97.2%
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Top 20 Holdings at Month-End (31.6% of equity portfolio)
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(Rank from previous month)
1 Wal-Mart Stores, Inc. (1) 2.3% 11 Baxter International,
Inc. (10) 1.5%
2 McDonald's Corp. (2) 2.2% 12 LKQ Corp. (14) 1.5%
3 ANSYS, Inc. (5) 1.9% 13 Accenture Ltd.,
4 Teva Pharmaceutical Class A (13) 1.5%
Industries Ltd. (6) 1.9% 14 Amgen, Inc. (17) 1.4%
5 Strayer Education, Inc. (4) 1.8% 15 Clean Harbors, Inc.
6 Johnson & Johnson (7) 1.8% (22) 1.3%
7 The Procter & Gamble Co. 16 Dollar Tree, Inc. (16) 1.2%
(11) 1.7% 17 Hansen Natural Corp. (36) 1.2%
8 Core Laboratories N.V. (9) 1.6% 18 PepsiCo, Inc. (26) 1.2%
9 Resources Connection, Inc. 19 NeuStar, Inc., Class A
(12) 1.6% (19) 1.2%
10 Genzyme Corp. (8) 1.6% 20 SYSCO Corp. (18) 1.2%
Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
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Health Care 22.6% New Holdings
Information Technology 19.5% ------------
Industrials 16.3% 3M Co.
Consumer Discretionary 13.1% Apollo Group, Inc., Class A
Financials 8.8% Automatic Data Processing, Inc.
Consumer Staples 8.2% Gilead Sciences, Inc.
Energy 7.8% Ritchie Bros. Auctioneers, Inc.
Telecommunication Services 2.5% Starwood Hotels & Resorts
Materials 0.9% Worldwide, Inc.
Utilities 0.3%
------ Holdings Liquidated
100.0% -------------------
Adobe Systems, Inc.
Hewlett-Packard Co.
Medtronic, Inc.
PharmaNet Development Group, Inc.
Quicksilver Resources, Inc.
St. Jude Medical, Inc.
Based on Standard & Poor's and MSCI Barra Global Industry Classification
Standard (GICS).
* The Liberty All-Star Growth Fund, Inc. is a closed-end fund and does
not continuously offer shares.
Contact Information: Contact Information: Liberty All-Star Growth Fund, Inc. 1-800-241-1850 www.all-starfunds.com