Below is the February 2011 Monthly Update for the Liberty All-Star® Equity Fund. (
February 2011 Monthly Update
Performance NAV Market Price Discount
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Beginning of month value $5.84 $5.06 13.4%
Distributions (Ex-Date February 23) $0.09 $0.09
End of month value $5.96 $5.21 12.6%
Performance for month 3.60% 4.74%
Performance year-to-date 6.33% 7.51%
For daily data visit the Fund's website at www.all-starfunds.com or call
1-800-241-1850. The Fund's daily NAV is also available by using the
symbol XUSAX. Past performance cannot predict future results.
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Net Assets at Month-End ($millions)
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Total $1,088.0
Equities $1,078.0
Convertible Bonds $0.7
Percent Invested 99.1%
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Top 20 Holdings at Month-End (29.0% of portfolio)
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(Rank from previous month)
1 Apple, Inc. (1) 2.7% 11 The Western Union Co. (17) 1.2%
2 JPMorgan Chase & Co. (2) 2.2% 12 Wells Fargo & Co. (9) 1.2%
3 Dell, Inc. (5) 2.0% 13 The Allstate Corp. (13) 1.2%
4 Bank of America Corp.
(3) 2.0% 14 Rockwell Automation, Inc. (44) 1.1%
5 QUALCOMM, Inc. (4) 2.0% 15 Amazon.com, Inc. (16) 1.1%
6 Google, Inc., Class A
(6) 1.6% 16 Chesapeake Energy Corp. (20) 1.1%
7 Arch Coal, Inc. (7) 1.5% 17 Citigroup, Inc. (15) 1.1%
8 PNC Financial Services
Group, Inc. (8) 1.4% 18 BP Plc (19) 1.1%
9 Zimmer Holdings, Inc.
(14) 1.2% 19 Cisco Systems, Inc. (10) 1.1%
10 Consol Energy, Inc. (11) 1.2% 20 Visa, Inc., Class A (22) 1.0%
Holdings are subject to change
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Sector Breakdown (% of portfolio) * New Holdings
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Information Technology 24.6% FirstEnergy Corp.
Financials 19.9% Royal Dutch Shell PLC
Energy 14.9% Silver Wheaton Corp.
Health Care 10.9% The TJX Companies, Inc.
Consumer Discretionary 10.1%
Industrials 8.3%
Consumer Staples 5.1%
Materials 3.3%
Utilities 2.1%
Telecommunication Services 0.8%
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100.0%
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Holdings Liquidated
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Alcatel-Lucent
Allegheny Energy, Inc.
Apache Corp.
Genzyme Corp.
IntercontinentalExchange, Inc.
Joy Global, Inc.
Smithfield Foods, Inc.
Target Corp.
Terex 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