January 2010 Monthly Update
Performance NAV Market Price Discount
----------- ------- ----------------- -----------
Beginning of month value $ 5.23 $ 4.33 17.2%
Distributions - -
End of month value $ 5.05 $ 4.18 17.2%
Performance for month (3.44%) (3.46%)
Performance year-to-date (3.44%) (3.46%)
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)
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Total $ 922.2
Equities $ 913.3
Percent Invested 99.0%
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Top 20 Holdings at Month-End (28.6% of portfolio)
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(Rank from previous month)
1 Apple, Inc. (1) 2.3% 11 The Boeing Co.(15) 1.3%
2 Bank of America Corp. (2) 2.2% 12 The Allstate Corp.(11) 1.3%
3 Dell, Inc. (3) 1.9% 13 Magna International, Inc.,
4 Google, Inc., Class A (4) 1.8% Class A (14) 1.2%
5 Gilead Sciences, Inc. (6) 1.8% 14 Hewlett-Packard Co.(12) 1.1%
6 QUALCOMM, Inc. (5) 1.7% 15 Arch Coal, Inc.(13) 1.1%
7 PNC Financial Services 16 Tyco Electronics Ltd. (19) 1.1%
Group, Inc. (9) 1.5% 17 J.C. Penney Co., Inc.(30) 1.1%
8 Forest Oil Corp. (10) 1.4% 18 Microsoft Corp.(16) 1.0%
9 Chesapeake Energy Corp.(8) 1.4% 19 Wells Fargo & Co.(73) 1.0%
10 Monsanto Co. (7) 1.4% 20 JPMorgan Chase & Co. (17) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
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Information Technology 21.9% Baidu, Inc.
Financials 19.5% Cooper Industries Plc
Energy 13.0% EQT Corp.
Consumer Discretionary 12.9% Scripps Networks Interactive,
Health Care 11.6% Inc., Class A
Industrials 9.6%
Consumer Staples 6.2% Holdings Liquidated
Utilities 2.8% -----------------
Materials 2.5% Omnicare, Inc.
----- Patterson-UTI Energy, Inc.
100.0% Time Warner, Inc.
Union Pacific Corp.
* 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