Below is the August 2008 Monthly Update for the Liberty All-Star® Equity Fund. (
August 2008 Monthly Update
Premium /
Performance NAV Market Price (Discount)
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Beginning of month value $6.55 $5.78 (11.8%)
Distributions (Ex-Date August 27) $0.17 $0.17
End of month value $6.43 $5.63 (12.4%)
Performance for month 0.8% 0.3%
Performance year-to-date (13.9%) (12.7%)
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XUSAX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $1,148.4
Equities $1,143.8
Preferred Stocks & Convertible Bonds $5.3
Percent Invested 100.1%
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Top 20 Holdings at Month-End (28.4% of portfolio)
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(Rank from previous month)
1 QUALCOMM, Inc. (1) 2.5% 11 Genzyme Corp. (18) 1.3%
2 Citigroup, Inc. (2) 2.2% 12 Bank of America Corp. (7) 1.3%
3 Schlumberger Ltd. (10) 1.9% 13 Arch Coal, Inc. (9) 1.3%
4 Wal-Mart Stores, Inc. (3) 1.9% 14 Apple, Inc. (80) 1.1%
5 Dell, Inc. (4) 1.6% 15 J.C. Penney Co., Inc. (38) 1.1%
6 Capital One Financial
Corp. (8) 1.4% 16 Morgan Stanley (19) 1.1%
7 Microsoft Corp. (12) 1.4% 17 Google, Inc., Class A (17) 1.1%
8 Johnson & Johnson (6) 1.4% 18 Staples, Inc. (22) 1.1%
9 Annaly Capital Management,
Inc. (5) 1.4% 19 JPMorgan Chase & Co. (16) 1.0%
10 Amazon.com, Inc. (13) 1.3% 20 McDonald's Corp. (20) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
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Information Technology 24.2% Alcoa, Inc.
Financials 18.9% Allegheny Energy, Inc.
Health Care 16.1% ITT Corp.
Consumer Discretionary 13.5% Union Pacific Corp.
Industrials 11.1%
Energy 7.9% Holdings Liquidated
Consumer Staples 5.1% -------------------
Materials 1.7% Aflac, Inc.
Utilities 1.5% Allegheny Technologies, Inc.
------ Apache Corp.
100.0% Bombardier, Inc., Class B
Corning, Inc.
CVS Caremark Corp.
EnCana Corp.
Liberty Media Corp. - Entertainment
NIKE, Inc., Class B
The PMI Group, Inc.
Potash Corp. of Saskatchewan, Inc.
SanDisk 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