Liberty All-Star® Equity Fund August 2017 Update

| Source: Liberty All-Star Funds Liberty All-Star Funds

BOSTON, Sept. 18, 2017 (GLOBE NEWSWIRE) -- Below is the August 2017 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE:USA)

          
Liberty All-Star Equity Fund   Monthly Update 
 Ticker: USA   August, 2017 
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 Capitol 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      
 (30.0% of equity portfolio)     
 (Rank from previous month)      
1Alphabet, Inc., Class C (2)2.2%     
2Facebook, Inc., Class A (1) 2.2%     
3Visa, Inc., Class A (3) 2.1%     
4Salesforce.com, Inc. (4) 2.0%     
5Adobe Systems, Inc. (8) 1.8%     
6Mondelez International, Inc., Class A (6) 1.7%     
7Amazon.com, Inc. (5) 1.6%     
8The Priceline Group, Inc. (7) 1.6%     
9Equinix, Inc. (10) 1.4%     
10Oracle Corp. (9) 1.4%     
11Bank of America Corp. (12) 1.3%     
12Starbucks Corp. (14) 1.3%     
13State Street Corp. (13) 1.3%     
14Chubb Ltd. (11) 1.3%     
15Lowe's Companies., Inc. (15) 1.2%     
16PayPal Holdings, Inc. (16) 1.2%     
17American Tower Corp. (17) 1.2%     
18Halliburton Co. (21) 1.1%     
19Celgene Corp. (19) 1.1%     
20Express Scripts Holding Co. (23) 1.0%     
 Holdings are subject to change.     


Monthly Performance    
PerformanceNAVMarket PriceDiscount 
Beginning of month value$6.53 $5.72 -12.4% 
Distributions –  –   
End of month value$6.48 $5.63 -13.1% 
Performance for month -0.77% -1.57%  
Performance year-to-date 13.28% 16.92%  
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.

Sources of distributions to shareholders may include ordinary dividends, long-term capital gains and return of capital. The actual amounts and sources of the amounts for tax reporting purposes will depend upon the Fund’s investment experience during its fiscal year and may be subject to changes based on tax regulations. If a distribution includes anything other than net investment income, the fund provides a Section 19(a) notice of the best estimate of its distribution sources at that time. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholders’ 1099-DIV forms after the end of the year.		 
 
 
 
 
 
 
 
 
 
 
 
 
     
     
     
Net Assets at Month-End ($millions)   
Total$1,236.2    
Equities$1,229.7    
Percent Invested 99.5%   
    
Sector Breakdown (% of equity portfolio)*    
Information Technology  24.3%  
Financials  17.1%  
Health Care  16.7%  
Consumer Discretionary  12.4%  
Energy  7.7%  
Consumer Staples  7.0%  
Industrials  5.8%  
Materials  3.4%  
Real Estate  3.2%  
Utilities  1.3%  
Telecommunication Services  1.1%  
Total Market Value  100.0%  
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).    
     
New Holdings  Holdings Liquidated 
Dollar Tree, Inc.  Kansas City Southern 
East West Bancorp, Inc.  The Kraft Heinz Co. 
The TJX Companies, Inc.    

 

 

 


            











    

        

        
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