April 2009 Monthly Update
Performance NAV Market Price Discount
----------- ----- ------------ --------
Beginning of month value $3.71 $2.92 21.3%
Distributions - -
End of month value $4.24 $3.39 20.0%
Performance for month 14.3% 16.1%
Performance year-to-date 3.7% 0.6%
For daily data visit the Fund's website at www.all-starfunds.com
or call 1-800-241-1850. The Fund's daily NAV is also available by
using the symbol XUSAX. Past performance cannot predict future
results.
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Net Assets at Month-End ($millions)
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Total $768.9
Equities $748.6
Preferred Stocks $1.7
Percent Invested 97.6%
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Top 20 Holdings at Month-End (28.3% of portfolio)
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(Rank from previous month)
1 Dell, Inc.(2) 2.2% 11 Microsoft Corp.(7) 1.4%
2 Gilead Sciences, Inc.(1) 1.8% 12 Annaly Capital
3 Cisco Systems, Inc.(3) 1.8% Management, Inc.(4) 1.3%
4 Visa, Inc., Class A(5) 1.6% 13 JPMorgan Chase & Co.(15) 1.3%
5 Apple, Inc.(11) 1.6% 14 Magna International, Inc.,
6 J.C. Penney Co., Inc.(8) 1.6% Class A(17) 1.2%
7 Chesapeake Energy Corp.(6) 1.6% 15 Google, Inc., Class A(14) 1.2%
8 Bank of America Corp.(10) 1.5% 16 Corning, Inc.(36) 1.1%
9 QUALCOMM, Inc.(13) 1.4% 17 The Allstate Corp.(75) 1.1%
10 Walgreen Co.(44) 1.4% 18 Teva Pharmaceutical
Industries Ltd.(12) 1.1%
19 International Business
Machines Corp.(16) 1.1%
20 Amazon.com, Inc.(20) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio)* New Holdings
-------------------------------- ------------
Information Technology 27.6% Aflac, Inc.
Consumer Discretionary 15.9% BMC Software, Inc.
Financials 15.7% The DIRECTV Group, Inc.
Health Care 12.6% McAfee, Inc.
Energy 11.3% Zimmer Holdings, Inc.
Industrials 6.8%
Consumer Staples 5.5% Holdings Liquidated
Materials 2.7% -------------------
Utilities 1.9% Amgen, Inc.
------ Apollo Group, Inc., Class A
100.0% Continental Airlines, Inc.
(Convertible)
Eli Lilly & Co.
Exxon Mobil 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