December 2010 Monthly Update
Performance NAV Market Price Discount
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Beginning of month value $5.37 $4.65 13.4%
Distributions (Ex-Date
December 15) $0.08 $0.08
End of month value $5.69 $4.93 13.4%
Performance for month 7.45% 7.72%
Performance year-to-date 15.59% 21.69%
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XUSAX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $1,038.8
Equities $1,022.1
Convertible Bonds $1.1
Percent Invested 98.5%
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Top 20 Holdings at Month-End (29.2% of portfolio)
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(Rank from previous month)
1 Apple, Inc. (1) 2.8% 11 Consol Energy, Inc.(16) 1.2%
2 Bank of America Corp.(4) 2.1% 12 Cisco Systems, Inc. (19) 1.2%
3 JPMorgan Chase & Co.(2) 2.1% 13 The Allstate Corp. (12) 1.2%
4 Dell, Inc. (3) 1.8% 14 Valero Energy Corp. (20) 1.2%
5 QUALCOMM, Inc. (5) 1.7% 15 The Western Union Co.(11) 1.1%
6 Google, Inc., Class A (10) 1.7% 16 State Street Corp. (17) 1.1%
7 Arch Coal, Inc. (7) 1.6% 17 Tyco Electronics Ltd.(13) 1.1%
8 PNC Financial Services 18 C.H. Robinson
Group, Inc. (8) 1.5% Worldwide, Inc. (18) 1.1%
9 Amazon.com, Inc. (9) 1.3% 19 Citigroup, Inc. (95) 1.1%
10 Wells Fargo & Co.(6) 1.2% 20 Costco Wholesale Corp.(14) 1.1%
Holdings are subject to change
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Sector Breakdown (% of portfolio)* New Holdings
-------------------------------- ------------
Information Technology 23.9% Burberry Group PLC
Financials 20.5% Ecolab, Inc.
Energy 14.6% Polycom, Inc.
Health Care 10.8%
Consumer Discretionary 10.6%
Industrials 8.7%
Consumer Staples 5.3%
Materials 2.9% Holdings Liquidated
Utilities 2.1% -------------------
Telecommunication Services 0.6% Best Buy Co., Inc.
----- Honeywell International, Inc.
100.0% Mastercard, Inc., Class A
===== Polo Ralph Lauren 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