Liberty All-Star® Growth Fund, Inc. April 2026 Monthly Update

Key Terms

net asset value (NAV) financial

Net asset value (NAV) is the per-share value of an investment fund calculated by totaling the fund’s assets, subtracting its liabilities, and dividing the remainder by the number of outstanding shares. Think of it like a price tag on each share of a collective piggy bank: investors use NAV to see what each share is worth, to compare funds, and, for many funds, it’s the price at which shares are bought or redeemed.

closed-end fund financial

A closed-end fund is a pool of money collected from many investors to buy a diversified mix of stocks, bonds, or other assets, and it is managed by professionals. Unlike some investment options, its shares are bought and sold on stock exchanges at prices determined by supply and demand, which can be above or below the fund's actual value. This structure allows investors to buy or sell shares easily, but the value may fluctuate based on market conditions.

market price financial

Market price is the current amount buyers are willing to pay and sellers are willing to accept for a share or other security at a given moment, like the tag on an item in a busy shop that changes with demand. It matters to investors because it determines what you would receive when selling or what you must pay to buy now, reflecting supply, demand and recent news that affect perceived value.

premium financial

A premium is the extra amount paid above a standard or reference value — for example, paying more than a stock’s current market price, the face value of a bond, or the base cost of an insurance policy. Investors care because a premium signals that buyers expect something extra (better growth, lower risk, or immediate access), and it affects returns and valuation much like paying a surcharge for faster service or higher quality.

discount financial

A discount is when a security or fund is selling for less than a basic benchmark value — for example the value of the assets behind it, its original face value, or its recent market price. For investors this matters because a discount can be an opportunity to buy cheaper than what you might expect to be the asset’s worth, but it can also signal underlying problems or lower future returns, much like buying a product below sticker price that may come with hidden issues.

return of capital financial

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

Standard & Poor's financial

Standard & Poor's is a financial services firm known for two main roles: rating the creditworthiness of companies and governments (like giving a report-card grade on their ability to repay debt) and maintaining widely followed stock market indexes (such as the S&P 500) that track market performance. Investors use its ratings and indexes as quick, trusted signals about risk, relative value and market trends, much like relying on a referee’s call or a thermometer reading before making decisions.

MSCI Global Industry Classification Standard (GICS) financial

MSCI Global Industry Classification Standard, commonly called GICS, is a system that sorts publicly traded companies into a hierarchy of sectors and industries based on their main business activities. Think of it like a library catalog for companies: it makes it easy to compare similar businesses, build baskets of stocks, track performance by sector, and create or benchmark investment products such as mutual funds and ETFs—information investors use to gauge exposure and risk.

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BOSTON--(BUSINESS WIRE)-- Below is the April 2026 Monthly Update for the Liberty All-Star Growth Fund, Inc. (NYSE: ASG).

Liberty All-Star Growth Fund, Inc.
Ticker: ASG
Monthly Update, April 2026

Investment Approach:
Fund Style: All-Cap Growth
Fund Strategy: Combines three growth style investment managers, each with a distinct capitalization focus (small-, mid- and large-cap) selected and continuously monitored by the Fund’s Investment Advisor.

Investment Managers:

• Congress Asset Management Company, LLP*
  Small-Cap Growth
• Congress Asset Management Company, LLP
  Mid-Cap Growth
• Westfield Capital Management Company, L.P.
  Large-Cap Growth

Top 20 Holdings at Month-End:

		(36.2% of equity portfolio)
1		NVIDIA Corp.		4.8%
2		Apple, Inc.		2.7%
3		Alphabet, Inc.		2.7%
4		Microsoft Corp.		2.3%
5		Amazon.com, Inc.		2.2%
6		Monolithic Power Systems, Inc.		1.9%
7		Advanced Energy Industries, Inc.		1.6%
8		Broadcom Inc.		1.6%
9		Quanta Services, Inc.		1.6%
10		nVent Electric PLC		1.5%
11		Sterling Infrastructure, Inc.		1.4%
12		EMCOR Group, Inc.		1.4%
13		Vertiv Holdings Co.		1.4%
14		Eli Lilly & Co.		1.3%
15		Curtiss-Wright Corp.		1.3%
16		Casey’s General Stores, Inc.		1.3%
17		Modine Manufacturing Co.		1.3%
18		Primoris Services Corp.		1.3%
19		Tapestry, Inc.		1.3%
20		Ascendis Pharma A/S		1.3%
Holdings are subject to change.

Monthly Performance:

Performance	NAV	Market Price	Discount
Beginning of month value	$5.34	$4.75	-11.0%
Distributions (Ex-Date April 16th)	$0.11	$0.11
End of month value	$5.78	$5.19	-10.2%
Performance for month	10.53%	11.58%
Performance year-to-date	3.05%	2.31%

Net Assets at Month-End ($millions):

Total		$365.7
Equities		$363.3
Percent Invested		99.3%

Sector Breakdown* (% of equity portfolio):

Information Technology		32.0%
Industrials		25.1%
Consumer Discretionary		14.4%
Health Care		12.8%
Communication Services		6.5%
Financials		5.8%
Materials		2.1%
Consumer Staples		1.3%
Total Market Value		100.0%
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS).

New Holdings:
Flowserve Corp.
Globus Medical, Inc.
Snowflake, Inc.
Wheaton Precious Metals Corp.

Holdings Liquidated:
Cheniere Energy, Inc.
Diamondback Energy, Inc.
Fair Isaac Corp.
Houlihan Lokey, Inc.
Texas Roadhouse, Inc.

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 final determination of the source of all distributions in 2026 for tax reporting purposes will be made after year end. 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. Based on current estimates no portion of the distributions consist of a return of capital. These estimates may not match the final tax characterization (for the full year’s distributions) contained in shareholder 1099-DIV forms after the end of the year.

All data is as of April 30, 2026 unless otherwise noted.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260515596372/en/

Liberty All-Star® Growth Fund, Inc.
1-800-241-1850
www.all-starfunds.com
libinfo@alpsinc.com

Source: Liberty All-Star Growth Fund, Inc.