September 2008 Monthly Update
Premium /
Performance NAV Market Price (Discount)
----------- ----- ------------ ----------
Beginning of month value $4.94 $4.38 (11.3%)
Distributions - -
End of month value $4.34 $3.47 (20.0%)
Performance for month (11.9%) (20.8%)
Performance year-to-date (22.2%) (36.8%)
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XASGX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $127.9
Equities $125.7
Percent Invested in Equities 98.3%
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Top 20 Holdings at Month-End (29.4% of equity portfolio)
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(Rank from previous month)
1 Wal-Mart Stores, Inc. (3) 1.8% 11 Lockheed Martin Corp. (20) 1.4%
2 ANSYS, Inc. (1) 1.8% 12 Baxter International, Inc. (13) 1.4%
3 McDonald's Corp. (7) 1.7% 13 The Procter & Gamble Co. (New) 1.4%
4 Core Laboratories 14 Accenture Ltd., Class A (17) 1.3%
N.V. (8) 1.7% 15 Union Pacific Corp. (18) 1.3%
5 International Business 16 Schlumberger Ltd. (15) 1.3%
Machines Corp. (11) 1.6% 17 Affiliated Managers Group,
6 Resources Connection, Inc. (6) 1.3%
Inc. (2) 1.6% 18 Strayer Education, Inc. (21) 1.3%
7 LKQ Corp. (4) 1.6% 19 Adobe Systems, Inc. (22) 1.2%
8 Johnson & Johnson (14) 1.5% 20 Smith International, Inc. (19) 1.2%
9 Genzyme Corp. (28) 1.5%
10 Teva Pharmaceutical
Industries Ltd. (12) 1.5%
Holdings are subject to change
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Sector Breakdown (% of equity portfolio) *
------------------------------------------ New Holdings
------------
Health Care 22.3%
Information Technology 21.0% Amgen, Inc.
Industrials 19.2% Hansen Natural Corp.
Consumer Discretionary 10.8% PepsiCo, Inc.
Energy 9.9% The Procter & Gamble Co.
Financials 6.4% The Shaw Group, Inc.
Consumer Staples 6.1% Signature Bank
Telecommunication Services 2.4% SINA Corp.
Materials 1.9% SYSCO Corp.
----- Wells Fargo & Co.
100.0%
Holdings Liquidated
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ABB Ltd.
Apple, Inc.
Assurant, Inc.
Oracle Corp.
QUALCOMM, Inc.
* Based on Standard & Poor's and MSCI Barra Global Industry
Classification Standard (GICS).
The Liberty All-Star Growth Fund, Inc. is a closed-end fund and does
not continuously offer shares.
Contact Information: For Information Contact: Liberty All-Star Growth Fund 1-800-241-1850 www.all-starfunds.com