Liberty All-Star® Equity Fund August 2017 Update
September 18 2017 - 10:06AM
Below is the August 2017 Monthly Update for the Liberty All-Star®
Equity Fund. (NYSE:USA)
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Liberty
All-Star Equity Fund |
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Monthly Update |
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Ticker: USA |
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August,
2017 |
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Investment Approach |
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Fund Style: Large-Cap Core |
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Fund Strategy: Combines three value-style and two
growth-style |
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investment
managers. Those selected demonstrate a consistent |
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investment
philosophy, decision making process, continuity of key |
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people and
above-average long-term results compared to managers |
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with
similar styles. |
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Investment Managers: |
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Value
Managers: |
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Aristotle
Capitol Management, LLC |
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Macquarie
Investment Management |
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Pzena
Investment Management, LLC |
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Growth
Managers: |
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Sustainable Growth Advisers, LP |
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TCW
Investment Management Company |
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Top 20 Holdings at Month-End |
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(30.0% of equity
portfolio) |
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(Rank from previous month) |
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1 |
Alphabet,
Inc., Class C (2) |
2.2 |
% |
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2 |
Facebook, Inc., Class A (1) |
2.2 |
% |
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3 |
Visa,
Inc., Class A (3) |
2.1 |
% |
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4 |
Salesforce.com, Inc. (4) |
2.0 |
% |
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5 |
Adobe
Systems, Inc. (8) |
1.8 |
% |
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6 |
Mondelez
International, Inc., Class A (6) |
1.7 |
% |
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7 |
Amazon.com, Inc. (5) |
1.6 |
% |
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8 |
The
Priceline Group, Inc. (7) |
1.6 |
% |
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9 |
Equinix,
Inc. (10) |
1.4 |
% |
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10 |
Oracle
Corp. (9) |
1.4 |
% |
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11 |
Bank of
America Corp. (12) |
1.3 |
% |
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12 |
Starbucks
Corp. (14) |
1.3 |
% |
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13 |
State
Street Corp. (13) |
1.3 |
% |
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14 |
Chubb
Ltd. (11) |
1.3 |
% |
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15 |
Lowe's
Companies., Inc. (15) |
1.2 |
% |
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16 |
PayPal
Holdings, Inc. (16) |
1.2 |
% |
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17 |
American
Tower Corp. (17) |
1.2 |
% |
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18 |
Halliburton Co. (21) |
1.1 |
% |
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19 |
Celgene
Corp. (19) |
1.1 |
% |
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20 |
Express
Scripts Holding Co. (23) |
1.0 |
% |
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Holdings
are subject to change. |
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Monthly Performance |
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Performance |
NAV |
Market Price |
Discount |
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Beginning of month value |
$ |
6.53 |
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$ |
5.72 |
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-12.4 |
% |
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Distributions |
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– |
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– |
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End of month value |
$ |
6.48 |
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$ |
5.63 |
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-13.1 |
% |
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Performance for month |
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-0.77 |
% |
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-1.57 |
% |
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Performance year-to-date |
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13.28 |
% |
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16.92 |
% |
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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
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. If a distribution includes anything other than net
investment income, the fund provides a Section 19(a) notice of the
best estimate of its distribution sources at that time. These
estimates may not match the final tax characterization (for the
full year’s distributions) contained in shareholders’ 1099-DIV
forms after the end of the year. |
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Net Assets at Month-End ($millions) |
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Total |
$ |
1,236.2 |
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Equities |
$ |
1,229.7 |
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Percent Invested |
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99.5 |
% |
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Sector Breakdown (% of equity portfolio)* |
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Information Technology |
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24.3 |
% |
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Financials |
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17.1 |
% |
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Health Care |
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16.7 |
% |
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Consumer Discretionary |
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12.4 |
% |
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Energy |
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7.7 |
% |
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Consumer Staples |
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7.0 |
% |
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Industrials |
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5.8 |
% |
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Materials |
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3.4 |
% |
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Real Estate |
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3.2 |
% |
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Utilities |
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1.3 |
% |
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Telecommunication Services |
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1.1 |
% |
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Total Market Value |
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100.0 |
% |
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*Based
on Standard & Poor's and MSCI Barra Global Industry
Classification Standard (GICS). |
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New Holdings |
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Holdings Liquidated |
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Dollar
Tree, Inc. |
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Kansas City Southern |
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East
West Bancorp, Inc. |
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The Kraft
Heinz Co. |
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The TJX
Companies, Inc. |
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Liberty All-Star Funds
1-800-241-1850
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