October 2008 Monthly Update
Premium /
Performance NAV Market Price (Discount)
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Beginning of month value $5.66 $4.51 (20.3%)
Distributions - -
End of month value $4.66 $3.86 (17.2%)
Performance for month (17.7%) (14.4%)
Performance year-to-date (37.6%) (39.9%)
For daily data visit the Fund's website at www.all-starfunds.com or
call 1-800-241-1850. The Fund's daily NAV is also available by using
the symbol XUSAX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $832.3
Equities $818.1
Preferred Stocks & Convertible Bonds $2.0
Percent Invested 98.5%
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Top 20 Holdings at Month-End (29.4% of portfolio)
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(Rank from previous month)
1 Bank of America Corp. (8) 2.5% 11 Union Pacific Corp. (32) 1.2%
2 Citigroup, Inc. (1) 2.2% 12 JPMorgan Chase & Co. (10) 1.2%
3 The Procter & Gamble Co. (4) 2.1% 13 Google, Inc., Class A (18) 1.2%
4 Wal-Mart Stores, Inc. (3) 2.0% 14 Capital One Financial
Corp. (2) 1.1%
5 Genzyme Corp. (6) 1.9% 15 Staples, Inc. (19) 1.1%
6 Annaly Capital Management,
Inc. (11) 1.6% 16 Genentech, Inc. (22) 1.1%
7 Dell, Inc. (12) 1.6% 17 Teva Pharmaceutical
Industries Ltd. (23) 1.1%
8 Microsoft Corp. (7) 1.5% 18 Amgen, Inc. (34) 1.1%
9 Johnson & Johnson (9) 1.4% 19 Gilead Sciences, Inc. (41) 1.1%
10 McDonald's Corp. (13) 1.3% 20 J.C. Penney Co., Inc. (16) 1.1%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
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Information Technology 20.0% Best Buy Co., Inc.
Financials 19.9% Brown & Brown, Inc.
Health Care 18.2% The Charles Schwab Corp.
Consumer Discretionary 13.0% Exxon Mobil Corp.
Industrials 9.2% Hewlett-Packard Co.
Consumer Staples 8.7% Kellogg Co.
Energy 7.6% U.S. Bancorp
Materials 1.9%
Utilities 1.5%
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100.0% Holdings Liquidated
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Becton, Dickinson and Co.
Danaher Corp.
D.R. Horton, Inc.
General Dynamics Corp.
ITT Corp.
J.B. Hunt Transport Services, Inc.
NetApp, Inc.
Transocean, Inc.
Wachovia 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: For Information Contact: Liberty All-Star Equity Fund 1-800-241-1850 www.all-starfunds.com