Liberty All-Star® Equity Fund September 2017 Update
October 16 2017 - 2:05PM
Below is the September 2017 Monthly Update for the Liberty
All-Star® Equity Fund. (NYSE:USA)
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Liberty
All-Star Equity Fund |
Monthly Update |
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Ticker: USA |
September, 2017 |
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 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. |
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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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(29.1% of equity
portfolio) |
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(Rank from previous month) |
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1 |
Alphabet,
Inc., Class C (1) |
2.2% |
2 |
Facebook,
Inc., Class A (2) |
2.1% |
3 |
Visa,
Inc., Class A (3) |
2.1% |
4 |
Salesforce.com, Inc. (4) |
1.8% |
5 |
Mondelez
International, Inc., Class A (6) |
1.7% |
6 |
Adobe
Systems, Inc. (5) |
1.6% |
7 |
Amazon.com, Inc. (7) |
1.5% |
8 |
The
Priceline Group, Inc. (8) |
1.5% |
9 |
Halliburton Co. (18) |
1.4% |
10 |
Bank of
America Corp. (11) |
1.4% |
11 |
Equinix,
Inc. (9) |
1.3% |
12 |
State
Street Corp. (13) |
1.3% |
13 |
Lowe's
Companies., Inc. (15) |
1.3% |
14 |
Oracle
Corp. (10) |
1.2% |
15 |
Chubb
Ltd. (14) |
1.2% |
16 |
Starbucks
Corp. (12) |
1.2% |
17 |
PayPal
Holdings, Inc. (16) |
1.2% |
18 |
DowDuPont, Inc. |
1.1% |
19 |
Celgene
Corp. (19) |
1.0% |
20 |
American
Tower Corp. (17) |
1.0% |
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Holdings
are subject to change. |
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Monthly Performance |
Performance |
NAV |
Market Price |
Discount |
Beginning of month value |
$6.48 |
$5.63 |
-13.1% |
Distributions |
– |
– |
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End of month value |
$6.65 |
$6.03 |
-9.3% |
Performance for month |
2.62% |
7.10% |
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Performance year-to-date |
16.25% |
25.23% |
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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 |
$1,277.1 |
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Equities |
$1,248.6 |
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Percent Invested |
97.8% |
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Sector Breakdown (% of equity portfolio)* |
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Information Technology |
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23.4% |
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Financials |
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17.6% |
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Health Care |
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16.3% |
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Consumer Discretionary |
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12.1% |
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Energy |
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9.0% |
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Consumer Staples |
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6.9% |
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Industrials |
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5.9% |
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Materials |
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3.4% |
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Real Estate |
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2.9% |
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Utilities |
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1.3% |
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Telecommunication Services |
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1.2% |
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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 |
Wells
Fargo & Co. |
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M&T
Bank Corp. |
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Regions
Financial Corp. |
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The Liberty All-Star Funds
1-800-241-1850
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