Below is the July 2008 Monthly Update for the Liberty All-Star® Equity Fund. (
July 2008 Monthly Update
Premium /
Performance NAV Market Price (Discount)
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Beginning of month value $6.65 $5.87 (11.7%)
Distributions - -
End of month value $6.55 $5.78 (11.8%)
Performance for month (1.5%) (1.5%)
Performance year-to-date (14.5%) (13.0%)
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XUSAX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $1,169.5
Equities $1,126.0
Preferred Stocks & Convertible Bonds $ 5.6
Percent Invested 96.8%
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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) 2.7% 11 Devon Energy Corp. (6) 1.3%
2 Citigroup, Inc. (4) 2.2% 12 Microsoft Corp. (10) 1.3%
3 Wal-Mart Stores, Inc. (2) 2.0% 13 Amazon.com, Inc. (12) 1.3%
4 Dell, Inc. (5) 1.9% 14 Fannie Mae (9) 1.2%
5 Annaly Capital Management, 15 Salesforce.com, Inc. (13) 1.1%
Inc. (8) 1.4%
6 Johnson & Johnson (21) 1.4% 16 JPMorgan Chase & Co. (30) 1.1%
7 Bank of America Corp. (25) 1.3% 17 Google, Inc., Class A (11) 1.1%
8 Capital One Financial
Corp. (16) 1.3% 18 Genzyme Corp. (23) 1.1%
9 Arch Coal, Inc. (3) 1.3% 19 Morgan Stanley (24) 1.1%
10 Schlumberger Ltd. (14) 1.3% 20 McDonald's Corp. (19) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio)* New Holdings
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Information Technology 24.4% Abbott Laboratories
Financials 19.7% American Express Co.
Health Care 15.4% Danaher Corp.
Consumer Discretionary 13.4% Medtronic, Inc.
Industrials 9.7% Monsanto Co.
Energy 8.5% SanDisk Corp.
Consumer Staples 5.4% Sirius Satellite Radio, Inc.
Materials 2.0% St. Jude Medical, Inc.
Utilities 1.5% Waste Management, Inc.
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100.0%
Holdings Liquidated
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The Coca-Cola Co.
Colgate-Palmolive Co.
iStar Financial, Inc. (Convertible
Corp. Bond)
Las Vegas Sands Corp.
Legg Mason, Inc.
Smithfield Foods, Inc.
Weatherford International Ltd.
Wolseley PLC
XM Satellite Radio Holdings, Inc.,
Class A
XTO Energy, Inc.
* 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