September 2009 Monthly Update
Performance NAV Market Price Discount
----------- --- ------------ --------
Beginning of month value $4.87 $3.87 20.5%
Distributions - -
End of month value $5.10 $4.23 17.1%
Performance for month 4.7% 9.3%
Performance year-to-date 28.2% 29.7%
For daily data visit the Fund's website at www.all-starfunds.com or
call 1-800-241-1850. The Fund's daily NAV is also available by
using the symbol XUSAX. Past performance cannot predict future
results.
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Net Assets at Month-End ($millions)
Total $930.9
Equities $910.4
Preferred Stocks $0.7
Percent Invested 97.9%
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Top 20 Holdings at Month-End (27.8% of portfolio)
(Rank from previous month)
1 Bank of America Corp.(2) 2.3% 11 Arch Coal, Inc.(16) 1.2%
2 Dell, Inc.(1) 2.3% 12 Forest Oil Corp.(14) 1.2%
3 Microsoft Corp.(3) 2.1% 13 RRI Energy, Inc.(13) 1.2%
4 Chesapeake Energy Corp.(5) 1.6% 14 Corning, Inc.(12) 1.1%
5 Visa, Inc., Class A(6) 1.6% 15 The Boeing Co.(17) 1.1%
6 eBay, Inc.(24) 1.4% 16 J.C. Penney
7 PNC Financial Services Co., Inc.(18) 1.1%
Group, Inc.(23) 1.4% 17 Apple, Inc.(20) 1.1%
8 The Allstate Corp.(8) 1.3% 18 Magna International,
9 Research In Motion Ltd.(10) 1.3% Inc., Class A (11) 1.1%
10 JPMorgan Chase & Co.(9) 1.2% 19 QUALCOMM, Inc.(4) 1.1%
20 Google, Inc.,
Class A(19) 1.1%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
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Information Technology 26.2% Accenture PLC, Class A
Financials 17.0% Axis Capital Holdings Ltd.
Consumer Discretionary 13.2% CareFusion Corp.
Energy 12.8% Danaher Corp.
Health Care 11.5% The Dun & Bradstreet Corp.
Industrials 8.8% Exxon Mobil Corp.
Consumer Staples 4.9% Hewlett-Packard Co.
Materials 2.9% Massey Energy Co.
Utilities 2.4% Smithfield Foods, Inc.
Telecommunication Services 0.3% UnitedHealth Group, Inc.
------ Vodafone Group PLC
100.0%
Holdings Liquidated
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CME Group, Inc.
Quest Diagnostics, Inc.
Petroleo Brasileiro S.A.
* 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: Contact Information: Liberty All-Star Equity Fund 1-800-241-1850 www.all-starfunds.com