November 2010 Monthly Update
Performance NAV Market Price Discount
----------- ------- ------------ --------
Beginning of month value $5.31 $4.55 14.3%
Distributions - -
End of month value $5.37 $4.65 13.4%
Performance for month 1.13% 2.20%
Performance year-to-date 7.58% 12.97%
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XUSAX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $980.2
Equities $963.4
Convertible Bonds $1.3
Percent Invested 98.4%
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Top 20 Holdings at Month-End (28.5% of portfolio)
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(Rank from previous month)
1 Apple, Inc. (1) 2.9% 11 The Western Union Co. (14) 1.2%
2 JPMorgan Chase & Co. (3) 2.0% 12 The Allstate Corp. (12) 1.2%
3 Dell, Inc. (2) 1.9% 13 Tyco Electronics Ltd. (13) 1.1%
4 Bank of America Corp.(6) 1.8% 14 Costco Wholesale Corp.(32) 1.1%
5 QUALCOMM, Inc. (5) 1.8% 15 J.C. Penney Co., Inc. (17) 1.1%
6 Wells Fargo & Co. (7) 1.6% 16 Consol Energy, Inc. (20) 1.1%
7 Arch Coal, Inc. (11) 1.4% 17 State Street Corp. (16) 1.1%
8 PNC Financial Services 18 C.H. Robinson Worldwide,
Group, Inc. (8) 1.4% Inc. (18) 1.1%
9 Amazon.com, Inc. (10) 1.3% 19 Cisco Systems, Inc. (9) 1.1%
10 Google, Inc., Class A (4) 1.3% 20 Valero Energy Corp. (21) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
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Information Technology 24.7% BB&T Corp.
Financials 19.6% General Motors Co.
Energy 14.1% MetLife, Inc.
Health Care 11.2% Polo Ralph Lauren Corp.
Consumer Discretionary 11.0% Precision Castparts Corp.
Industrials 9.0%
Consumer Staples 5.1%
Materials 2.6% Holdings Liquidated
Utilities 2.1% -------------------
Telecommunication Services 0.6% Flowserve Corp.
----- Johnson Controls, Inc.
100.0% Novellus Systems, Inc.
===== Quanta Services, Inc.
Redwood Trust, Inc.
Starwood Hotels &
Resorts Worldwide, 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: Contact Information: Liberty All-Star Equity Fund 1-800-241-1850 www.all-starfunds.com