January 2011 Monthly Update
Performance NAV Market Price Discount
----------- ----- ------------ --------
Beginning of month value $5.69 $4.93 13.4%
Distributions - -
End of month value $5.84 $5.06 13.4%
Performance for month 2.64% 2.64%
Performance year-to-date 2.64% 2.64%
For daily data visit the Fund's website at www.all-starfunds.com
or call 1-800-241-1850. The Fund's daily NAV is also available by
using the symbol XUSAX. Past performance cannot predict future
results.
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Net Assets at Month-End ($millions)
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Total $1,067.7
Equities $1,044.2
Convertible Bonds $1.1
Percent Invested 97.9%
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Top 20 Holdings at Month-End (28.8% of portfolio)
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(Rank from previous month)
1 Apple, Inc. (1) 2.8% 11 Consol Energy, Inc.(11) 1.2%
2 JPMorgan Chase & Co.(3) 2.2% 12 Valero Energy Corp.(14) 1.2%
3 Bank of America Corp.(2) 2.0% 13 The Allstate Corp. (13) 1.2%
4 QUALCOMM, Inc. (5) 1.9% 14 Zimmer Holdings, Inc.(21) 1.2%
5 Dell, Inc. (4) 1.7% 15 Citigroup, Inc. (19) 1.1%
6 Google, Inc., Class A(6) 1.6% 16 Amazon.com, Inc. (9) 1.1%
7 Arch Coal, Inc. (7) 1.5% 17 The Western Union Co.(15) 1.1%
8 PNC Financial Services 18 State Street Corp. (16) 1.1%
Group, Inc. (8) 1.4% 19 BP Plc (23) 1.1%
9 Wells Fargo & Co. (10) 1.2% 20 Chesapeake Energy Corp. (27) 1.0%
10 Cisco Systems, Inc.(12) 1.2%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
--------------------------------- ------------
Information Technology 23.7% MGIC Investment Corp.
Financials 20.4% NIKE, Inc., Class B
Energy 15.1% Sprint Nextel Corp.
Health Care 10.8% Sunstone Hotel Investors, Inc.
Consumer Discretionary 10.3%
Industrials 8.6%
Consumer Staples 5.2%
Materials 2.9% Holdings Liquidated - None
Utilities 2.2% --------------------------
Telecommunication
Services 0.8%
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100.0%
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* 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