May 2010 Monthly Update
Performance NAV Market Price Discount
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Beginning of month value $4.33 $3.97 8.3%
Distributions (Ex-Date May 26) $0.06 $0.06
End of month value $3.94 $3.49 11.4%
Performance for month -7.62% -10.58%
Performance year-to-date 1.52% 7.33%
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XASGX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $118.6
Equities $118.8
Percent Invested in Equities 100.2%
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Top 20 Holdings at Month-End (25.2% of equity portfolio)
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(Rank from previous month)
1 Strayer Education, Inc. (3) 1.6% 11 VMware, Inc. (19) 1.2%
2 Apple, Inc. (2) 1.6% 12 Visa, Inc., Class A (7) 1.2%
3 Core Laboratories N.V. (1) 1.6% 13 Portfolio Recovery
Associates, Inc. (29) 1.2%
4 Applied Materials, Inc. (5) 1.4% 14 Google, Inc., Class A (13) 1.1%
5 Microsoft Corp. (4) 1.4% 15 Gilead Sciences, Inc. (28) 1.1%
6 Masimo Corp. (30) 1.3% 16 Lincare Holdings, Inc. (17) 1.1%
7 Salesforce.com, Inc. (10) 1.3% 17 Resources Connection, Inc.
(18) 1.1%
8 ANSYS, Inc. (11) 1.3% 18 VeriFone Systems, Inc. (62) 1.1%
9 PepsiCo, Inc. (6) 1.2% 19 LKQ Corp. (26) 1.1%
10 Capella Education Co. (9) 1.2% 20 VCA Antech, Inc. (22) 1.1%
Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
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Information Technology 28.8% New Holdings
Industrials 19.2% ------------
Health Care 16.6% Accretive Health, Inc.
Financials 12.0% Aruba Networks, Inc.
Consumer Discretionary 11.7% Greenlight Capital Re Ltd.
Energy 7.1% Hewlett-Packard Co.
Consumer Staples 2.4% The Mosaic Co.
Materials 1.2% Plains Exploration &
Utilities 0.6% Production Co.
Telecommunication Services 0.4% T. Rowe Price Group, Inc.
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100.0%
Holdings Liquidated
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Adobe Systems, Inc.
AT&T, Inc.
Digital River, Inc.
DreamWorks Animation SKG,
Inc., Class A
Hansen Natural Corp.
InterMune, Inc.
MannKind Corp.
Perfect World Co. Ltd.
Phillips-Van Heusen Corp.
Stanley, Inc.
Wynn Resorts Ltd.
* 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