March 2010 Monthly Update
Performance NAV Market Price Discount
----------- ----- ------------ --------
Beginning of month value $5.12 $4.45 13.1%
Distributions - -
End of month value $5.44 $4.74 12.9%
Performance for month 6.25% 6.52%
Performance year-to-date 5.64% 11.30%
For daily data visit the Fund's website at www.all-starfunds.com or
call 1-800-241-1850. The Fund's daily NAV is also available by using
the symbol XUSAX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $993.0
Equities $971.3
Percent Invested 97.8%
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Top 20 Holdings at Month-End (29.0% of portfolio)
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(Rank from previous month)
1 Bank of America Corp. (1) 2.7% 11 Chesapeake Energy Corp. (6) 1.2%
2 Apple, Inc. (2) 2.6% 12 Hewlett-Packard Co. (12) 1.2%
3 Dell, Inc. (3) 2.2% 13 Microsoft Corp. (20) 1.2%
4 QUALCOMM, Inc. (5) 1.8% 14 The Boeing Co. (11) 1.2%
5 PNC Financial Services 15 Magna International, Inc.,
Group, Inc. (7) 1.5% Class A (15) 1.2%
6 Gilead Sciences, Inc. (4) 1.5% 16 JPMorgan Chase & Co. (16) 1.2%
7 Google, Inc., Class A (8) 1.3% 17 Arch Coal, Inc. (13) 1.1%
8 The Western Union Co. (17) 1.3% 18 Tyco Electronics Ltd. (19) 1.1%
9 The Allstate Corp. (9) 1.3% 19 Amazon.com, Inc. (18) 1.1%
10 Monsanto Co. (10) 1.3% 20 Wells Fargo & Co. (23) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
--------------------------------- ------------
Information Technology 23.3% Anadarko Petroleum Corp.
Financials 21.1% D.R. Horton, Inc.
Energy 12.0% priceline.com, Inc.
Consumer Discretionary 11.6%
Health Care 10.5%
Industrials 9.9% Holdings Liquidated
Consumer Staples 5.5% -------------------
Utilities 3.2% BJ Services Co.
Materials 2.6% Deere & Co.
Telecommunication Services 0.3% Forest Oil Corp.
--------- Hess Corp.
100.0% MetLife, Inc.
Whirlpool 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