Below is the May 2010 Monthly Update for the Liberty All-Star® Equity Fund. (
May 2010 Monthly Update Performance NAV Market Price Discount ----------- ----- ------------ -------- Beginning of month value $5.54 $4.91 11.4% Distributions (Ex-Date May 26) $0.08 $0.08 End of month value $4.96 $4.27 13.9% Performance for month -9.03% -11.41% Performance year-to-date -2.13% 2.14% For daily data visit the Fund's website at www.all-starfunds.com or call 1-800-241-1850. The Fund's daily NAV is also available by using the symbol XUSAX. Past performance cannot predict future results. Net Assets at Month-End ($millions) ---------------------------------- Total $905.3 Equities $903.7 Convertible Bonds $1.2 Percent Invested 100.0% Top 20 Holdings at Month-End (28.4% of portfolio) ------------------------------------------------------- (Rank from previous month) 1 Apple, Inc. (1) 2.9% 11 The Western Union Co. (9) 1.2% 2 Bank of America Corp. (2) 2.6% 12 Arch Coal, Inc. (8) 1.2% 3 Dell, Inc. (3) 2.0% 13 Amazon.com, Inc. (18) 1.1% 4 JPMorgan Chase & Co. (6) 2.0% 14 State Street Corp. (20) 1.0% 5 QUALCOMM, Inc. (4) 1.8% 15 Wells Fargo & Co. (16) 1.0% 6 Gilead Sciences, Inc. (7) 1.4% 16 Google, Inc., Class A (23) 1.0% 7 PNC Financial Services 17 Microsoft Corp. (17) 1.0% Group, Inc. (5) 1.4% 18 The Boeing Co. (19) 1.0% 8 The Allstate Corp. (11) 1.3% 19 Morgan Stanley (22) 1.0% 9 Chesapeake Energy Corp. (12) 1.3% 20 Hewlett-Packard Co. (13) 1.0% 10 Tyco Electronics Ltd. (10) 1.2% Holdings are subject to change --------------------------------------------------------------------------- Sector Breakdown (% of equity portfolio) * New Holdings ------------------------------------------ ------------ Financials 21.4% Aegean Marine Petroleum Network, Inc. Information Technology 21.1% Archer-Daniels-Midland Co. Energy 12.0% Deere & Co. Consumer Discretionary 11.4% The Dow Chemical Co. Health Care 11.2% International Business Machines Corp. Industrials 10.7% Laboratory Corp. of America Holdings Consumer Staples 5.4% Masco Corp. Utilities 3.0% MEMC Electronic Materials, Inc. Materials 2.1% PPG Industries, Inc. Technology 1.2% UAL Corp. (Convertible) Telecommunication Services 0.5% ----- 100.0% Holdings Liquidated ------------------- ASML Holding N.V. Brocade Communications Systems, Inc. Colgate-Palmolive Co. The Dun & Bradstreet Corp. FPL Group, Inc. The Home Depot, Inc. Lowe's Cos., Inc. Terex Corp. Wal-Mart Stores, Inc. Yum! Brands, Inc. * 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