BOSTON, Aug. 14,
2023 /PRNewswire/ -- Below is the July 2023 Monthly Update for the Liberty All-Star
Equity Fund. (NYSE: USA)
Liberty All-Star Equity Fund
Ticker: USA
Monthly Update, July, 2023
Investment Approach:
Fund Style: Large-Cap
Core
Fund Strategy: Combines three value-style and two growth-style
investment managers. Those selected demonstrate a consistent
investment philosophy, decision making process, continuity of key
people and above-average long-term results compared to managers
with similar styles.
Investment
Managers:
Value
Managers:
Aristotle Capital Management, LLC
Fiduciary Management, Inc.
Pzena Investment Management,
LLC
Growth Managers:
Sustainable Growth Advisers, LP
TCW Investment Management Company
|
Top 20 Holdings at
Month-End
(34.6% of equity portfolio)
|
|
1
|
Microsoft Corp.
|
3.3 %
|
|
2
|
Alphabet, Inc.
|
3.2 %
|
|
3
|
NVIDIA Corp.
|
2.4 %
|
|
4
|
Amazon.com, Inc.
|
2.4 %
|
|
5
|
UnitedHealth Group,
Inc.
|
2.2 %
|
|
6
|
Visa, Inc.
|
2.1 %
|
|
7
|
ServiceNow, Inc.
|
2.0 %
|
|
8
|
S&P Global,
Inc.
|
1.7 %
|
|
9
|
Sony Group
Corp.
|
1.4 %
|
|
10
|
Adobe, Inc.
|
1.4 %
|
|
11
|
Salesforce,
Inc.
|
1.3 %
|
|
12
|
Charles Schwab
Corp.
|
1.3 %
|
|
13
|
Booking Holdings,
Inc.
|
1.3 %
|
|
14
|
Dollar General
Corp.
|
1.3 %
|
|
15
|
Danaher
Corp.
|
1.3 %
|
|
16
|
Capital One Financial
Corp.
|
1.3 %
|
|
17
|
Fresenius Medical Care
AG & Co. KGaA
|
1.3 %
|
|
18
|
Ecolab, Inc.
|
1.2 %
|
|
19
|
IQVIA Holdings,
Inc.
|
1.2 %
|
|
20
|
Autodesk, Inc.
|
1.0 %
|
Holdings are subject to change.
|
Monthly Performance:
|
|
Performance
|
NAV
|
Market Price
|
Premium
|
|
Beginning of month
value
|
$6.42
|
$6.47
|
0.8 %
|
|
Distributions (Ex-Date
July 20th)
|
$0.16
|
$0.16
|
|
|
End of month value
|
$6.53
|
$6.70
|
2.6 %
|
|
Performance for month
|
4.21 %
|
6.09 %
|
|
|
Performance
year-to-date
|
19.01 %
|
26.39 %
|
|
|
Net Assets at
Month-End ($millions)
|
|
Total
|
$1,767.8
|
|
Equities
|
$1,767.1
|
|
Percent Invested
|
100.0 %
|
|
Sector Breakdown (%
of equity portfolio)*
|
|
Financials
|
21.4 %
|
|
Information Technology
|
19.9 %
|
|
Health Care
|
14.5 %
|
|
Consumer Discretionary
|
13.5 %
|
|
Industrials
|
8.0 %
|
|
Communication Services
|
5.9 %
|
|
Materials
|
5.8 %
|
|
Consumer Staples
|
5.0 %
|
|
Energy
|
2.5 %
|
|
Real Estate
|
2.0 %
|
|
Utilities
|
1.5 %
|
|
Total Market Value
|
100.0 %
|
|
*Based on Standard
& Poor's and MSCI Global Industry Classification Standard
(GICS).
|
New Holdings
Baxter International, Inc.
Canadian Pacific Kansas City, Ltd.
Global Payments, Inc.
Holdings Liquidated
None
The net asset value (NAV) of a closed-end fund is the market
value of the underlying investments (i.e., stocks and bonds) in the
Fund's portfolio, minus liabilities, divided by the total number of
Fund shares outstanding. However, the Fund also has a market price;
the value at which it trades on an exchange. If the market
price is above the NAV the Fund is trading at a premium. If the
market price is below the NAV the Fund is trading at a
discount.
Performance returns for the Fund are total returns, which
includes dividends, and are net of management fees and other Fund
expenses. Returns are calculated assuming that a shareholder
reinvested all distributions. Past performance cannot predict
future investment results.
Performance will fluctuate with changes in market conditions.
Current performance may be lower or higher than the performance
data shown. Performance information shown does not reflect the
deduction of taxes that shareholders would pay on Fund
distributions or the sale of Fund shares. Shareholders must be
willing to tolerate significant fluctuations in the value of their
investment. An investment in the Fund involves risk, including loss
of principal.
Sources of distributions to shareholders may include ordinary
dividends, long-term capital gains and return of capital. The
final determination of the source of all distributions in 2023 for
tax reporting purposes will be made after year end. The
actual amounts and sources of the amounts for tax reporting
purposes will depend upon the Fund's investment experience during
its fiscal year and may be subject to changes based on tax
regulations. Based on current estimates a portion of the
distributions consist of a return of capital. These estimates may
not match the final tax characterization (for the full year's
distributions) contained in shareholder 1099-DIV forms after the
end of the
year.
All data is as of July 31, 2023
unless otherwise
noted.
Liberty All-Star® Equity Fund
1-800-241-1850
www.all-starfunds.com
libinfo@alpsinc.com
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SOURCE Liberty All-Star® Equity Fund