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 $5.06 13.4% Performance for month 2.64% 2.64% Performance year-to-date 2.64% 2.64% For daily data visit the Fund's website at www.all-starfunds.com or call 1-800-241-1850. The Fund's daily NAV is also available by using the symbol XUSAX. Past performance cannot predict future results. --------------------------------------------------------------------------- Net Assets at Month-End ($millions) ----------------------------------- Total $1,067.7 Equities $1,044.2 Convertible Bonds $1.1 Percent Invested 97.9% --------------------------------------------------------------------------- Top 20 Holdings at Month-End (28.8% of portfolio) ------------------------------------------------- (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 --------------------------------------------------------------------------- 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% ----- 100.0% ===== * 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