BOSTON, Sept. 13, 2019 (GLOBE NEWSWIRE) -- Below is the August 2019 Monthly Update for the Liberty All-Star Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund
Ticker: USA
Monthly Update, August, 2019
Investment Approach:
Fund Style: Large-Cap Core
Fund Strategy: Combines three value-style and two growth-style investment managers. Those selected demonstrate a consistent investment philosophy, decision making process, continuity of key people and above-average long-term results compared to managers with similar styles.
Investment Managers:
Value Managers:
Aristotle Capital Management, LLC
Macquarie Investment Management
Pzena Investment Management, LLC
Growth Managers:
Sustainable Growth Advisers, LP
TCW Investment Management Company
| Top 20 Holdings at Month-End | ||||
| (31.9% of equity portfolio) | ||||
| 1 | PayPal Holdings, Inc. | 2.3% | ||
| 2 | Visa, Inc. | 2.3% | ||
| 3 | Adobe, Inc. | 2.1% | ||
| 4 | Amazon.com, Inc. | 2.1% | ||
| 5 | Alphabet, Inc. | 2.0% | ||
| 6 | Microsoft Corp. | 1.9% | ||
| 7 | salesforce.com, Inc. | 1.8% | ||
| 8 | Abbott Laboratories | 1.5% | ||
| 9 | Facebook, Inc. | 1.5% | ||
| 10 | Equinix, Inc. | 1.5% | ||
| 11 | Halliburton Co. | 1.5% | ||
| 12 | Danaher Corp. | 1.4% | ||
| 13 | American International Group, Inc. | 1.4% | ||
| 14 | Home Depot, Inc. | 1.3% | ||
| 15 | Capital One Financial Corp. | 1.3% | ||
| 16 | Mondelez International, Inc. | 1.3% | ||
| 17 | Bank of America Corp. | 1.3% | ||
| 18 | American Tower Corp. | 1.2% | ||
| 19 | Amgen, Inc. | 1.1% | ||
| 20 | Lowe's Cos., Inc. | 1.1% | ||
| Holdings are subject to change. | ||||
| Monthly Performance: | |||
| Performance | NAV | Market Price | Discount |
| Beginning of month value | $6.57 | $6.38 | -2.9% |
| End of month value | $6.40 | $6.13 | -4.2% |
| Performance for month | -2.59% | -3.92% | |
| Performance year-to-date | 17.62% | 23.34% |
| Net Assets at Month-End ($millions) | |
| Total | $1,309.5 |
| Equities | $1,317.1 |
| Percent Invested | 100.6% |
| Sector Breakdown (% of equity portfolio)* | |
| Information Technology | 21.2% |
| Financials | 16.1% |
| Health Care | 15.1% |
| Consumer Discretionary | 12.7% |
| Industrials | 8.4% |
| Communication Services | 6.9% |
| Consumer Staples | 6.0% |
| Energy | 5.7% |
| Real Estate | 4.1% |
| Materials | 2.8% |
| Utilities | 1.0% |
| Total Market Value | 100.0% |
| *Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS). | |
New Holdings
Boston Scientific Corp.
Cabot Oil & Gas Corp.
Holdings Liquidated
Concho Resources, Inc.
Quest Diagnostics, Inc.
The net asset value (NAV) of a closed-end fund is the market value of the underlying investments (i.e., stocks and bonds) in the Fund’s portfolio, minus liabilities, divided by the total number of Fund shares outstanding. However, the Fund also has a market price; the value at which it trades on an exchange. If the market price is above the NAV the Fund is trading at a premium. If the market price is below the NAV the Fund is trading at a discount.
Performance returns for the Fund are total returns, which includes dividends, and are net of management fees and other Fund expenses. Returns are calculated assuming that a shareholder reinvested all distributions. Past performance cannot predict future investment results.
Performance will fluctuate with changes in market conditions. Current performance may be lower or higher than the performance data shown. Performance information shown does not reflect the deduction of taxes that shareholders would pay on Fund distributions or the sale of Fund shares. Shareholders must be willing to tolerate significant fluctuations in the value of their investment. An investment in the Fund involves risk, including loss of principal.
All data is as of August 31, 2019 unless otherwise noted.
Liberty All-Star® Equity Fund
1-800-241-1850
www.all-starfunds.com
libinfo@alpsinc.com