SOURCE: ALPS Advisors, Inc.

ALPS Advisors, Inc.

January 13, 2014 12:45 ET

Liberty All-Star® Equity Fund December 2013 Monthly Update

BOSTON, MA--(Marketwired - Jan 13, 2014) -  Below is the December 2013 Monthly Update for the Liberty All-Star® Equity Fund. (NYSE: USA)

Liberty All-Star Equity Fund Monthly Update
  Ticker: USA December, 2013

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:
Matrix Asset Advisors, Inc.
Pzena Investment Management, LLC
Schneider Capital Management Corporation

Growth Managers:
Cornerstone Capital Management LLC
TCW Investment Management Company

   
Top 20 Holdings at Month-End  
  (30.8% of equity portfolio)  
  (Rank from previous month)  
1 Google, Inc., Class A (1) 2.3%
2 JPMorgan Chase & Co. (2) 2.2%
3 Schlumberger Ltd. (3) 2.0%
4 Salesforce.com, Inc. (4) 1.9%
5 Amazon.com, Inc. (5) 1.8%
6 Citigroup, Inc. (6) 1.7%
7 Hewlett-Packard Co. (8) 1.6%
8 Bank of America Corp. (7) 1.6%
9 Morgan Stanley (9) 1.5%
10 QUALCOMM, Inc. (10) 1.5%
11 MetLife, Inc. (12) 1.5%
12 SunTrust Banks, Inc. (11) 1.5%
13 Visa, Inc., Class A (13) 1.4%
14 American International Group, Inc. (14) 1.3%
15 Starbucks Corp. (15) 1.3%
16 Chesapeake Energy Corp. (16) 1.2%
17 Devon Energy Corp. (18) 1.2%
18 Precision Castparts Corp. (19) 1.1%
19 Microsoft Corp. (17) 1.1%
20 State Street Corp. (20) 1.1%
  Holdings are subject to change.  
     
Monthly Performance  
Performance NAV Market Price Discount
Beginning of month value $6.55 $5.74 12.4%
Distributions - -  
End of month value $6.71 $5.97 11.0%
Performance for month 2.44% 4.01%  
Performance year-to-date 33.80% 33.52%  
       

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.

Returns for the Fund are total returns, which include dividends, after deducting Fund expenses. The Fund's performance is calculated assuming that a shareholder reinvested all distributions and exercised all primary rights in the Fund's rights offerings. 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.    

   
Net Assets at Month-End ($millions)  
  Total $1,177.3  
  Equities $1,148.7  
  Percent Invested 97.6%  
   
Sector Breakdown (% of equity portfolio)*   
  Financials   26.1%
  Information Technology   19.3%
  Consumer Discretionary   16.1%
  Energy   14.1%
  Health Care   10.2%
  Industrials   6.7%
  Consumer Staples   4.7%
  Materials   2.3%
  Utilities   0.5%
Total Market Value   100.0%
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).
 
New Holdings Holdings Liquidated
Barclays PLC Michael Kors Holdings Ltd.
FirstEnergy Corp. Mondelez International, Inc., Class A
  NRG Energy, Inc.
  NVR, Inc.
   

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