February 2009 Monthly Update
Performance NAV Market Price Discount
----------- ------- ------------ --------
Beginning of month value $3.78 $3.12 17.5%
Distributions - -
End of month value $3.39 $2.60 23.3%
Performance for month (10.3%) (16.7%)
Performance year-to-date (17.3%) (22.9%)
For daily data visit the Fund's website at www.all-starfunds.com or
call 1-800-241-1850. The Fund's daily NAV is also available by
using the symbol XUSAX. Past performance cannot predict future
results.
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Net Assets at Month-End ($millions)
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Total $606.2
Equities $613.9
Preferred Stocks & Convertible Bonds $0.9
Percent Invested 101.4%
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Top 20 Holdings at Month-End (27.2% of portfolio)
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(Rank from previous month)
1 Gilead Sciences, Inc.(1) 2.2% 11 QUALCOMM, Inc.(17) 1.2%
2 Dell, Inc.(5) 1.9% 12 Genentech, Inc.(13) 1.2%
3 Annaly Capital 13 JPMorgan Chase & Co.(12) 1.2%
Management, Inc.(2) 1.8% 14 International Business
4 Genzyme Corp. (3) 1.7% Machines Corp.(28) 1.2%
5 Visa, Inc., Class A(15) 1.6% 15 Magna International,
6 Chesapeake Energy Corp.(7) 1.5% Inc., Class A(18) 1.1%
7 Teva Pharmaceutical 16 Monsanto Co.(24) 1.1%
Industries Ltd.(16) 1.3% 17 J.C. Penney
8 Google, Inc., Class A(10) 1.3% Co., Inc.(23) 1.1%
9 Microsoft Corp.(8) 1.3% 18 Arch Coal, Inc.(19) 1.1%
10 Amazon.com, Inc.(21) 1.2% 19 Morgan Stanley(22) 1.1%
20 CA, Inc.(14) 1.1%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
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Information Technology 24.8% Apache Corp.
Health Care 18.8% Becton, Dickinson and Co.
Consumer Discretionary 15.2% Continental Airlines, Inc.
Financials 14.6% (Convertible)
Energy 9.9% Corning, Inc.
Industrials 6.4% Deere & Co.
Consumer Staples 5.3% EMC Corp.
Materials 2.8% Forest Oil Corp.
Utilities 2.2% The Hartford Financial Services
----- Group, Inc.
100.0% Mastercard, Inc., Class A
Oracle Corp.
Quest Diagnostics, Inc.
St. Jude Medical, Inc.
The Walt Disney Co.
Holdings Liquidated
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3M Co.
Affiliated Computer
Services, Inc., Class A
General Electric Co.
Huntington Bancshares, Inc.
Lowe's Cos., Inc.
Sirius XM Radio, Inc.
Time Warner, Inc.
Unum Group
Visteon Corp.
* 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