Liberty All-Star® Growth Fund, Inc. October 2024 Monthly Update
Rhea-AI Summary
The Liberty All-Star Growth Fund (NYSE: ASG) released its October 2024 monthly update. The fund, which combines three growth-style investment managers focusing on small-, mid-, and large-cap stocks, reported a -1.16% NAV performance and -0.89% market price performance for October. Year-to-date performance stands at 10.60% for NAV and 12.36% for market price.
The fund's top holdings include NVIDIA (4.0%), Apple (3.1%), and Microsoft (2.9%). The portfolio is primarily invested in Information Technology (29.3%), Health Care (17.4%), and Industrials (17.3%). Total net assets at month-end were $361.4 million, with 97.5% invested in equities.
Positive
- Year-to-date performance shows strong returns: 10.60% NAV and 12.36% market price
- High investment rate with 97.5% of assets invested in equities
- Discount to NAV narrowed from -7.0% to -6.7%
Negative
- Negative monthly performance in October: -1.16% NAV and -0.89% market price
Insights
This monthly fund update reveals a mixed performance picture. The fund's
Notable portfolio changes include the addition of Eli Lilly and MarketAxess Holdings, while removing positions in Avery Dennison, Charles River Labs, CoStar Group and Ulta Beauty. The fund continues trading at a modest discount of
Liberty All-Star Growth Fund, Inc.
Ticker: ASG
Monthly Update, October 2024
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:
- Weatherbie Capital, LLC
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:
( | ||
1 | NVIDIA Corp. | 4.0 % |
2 | Apple, Inc. | 3.1 % |
3 | Microsoft Corp. | 2.9 % |
4 | Amazon.com, Inc. | 2.8 % |
5 | Alphabet, Inc. | 2.2 % |
6 | Meta Platforms, Inc. | 2.1 % |
7 | Ollie's Bargain Outlet Holdings, Inc. | 2.0 % |
8 | FirstService Corp. | 2.0 % |
9 | SPS Commerce, Inc. | 1.9 % |
10 | Natera, Inc. | 1.9 % |
11 | Casella Waste Systems, Inc. | 1.8 % |
12 | Hamilton Lane, Inc. | 1.7 % |
13 | StepStone Group, Inc. | 1.6 % |
14 | Visa, Inc. | 1.4 % |
15 | Glaukos Corp. | 1.3 % |
16 | Upstart Holdings, Inc. | 1.2 % |
17 | TransDigm Group, Inc. | 1.2 % |
18 | Casey's General Stores, Inc. | 1.1 % |
19 | Tandem Diabetes Care, Inc. | 1.1 % |
20 | Booz Allen Hamilton Holding Corp. | 1.1 % |
Holdings are subject to change. | ||
Monthly Performance:
Performance | NAV | Market Price | Discount |
Beginning of month value | -7.0 % | ||
End of month value | -6.7 % | ||
Performance for month | -1.16 % | -0.89 % | |
Performance year-to-date | 10.60 % | 12.36 % |
Net Assets at Month-End ($millions):
Total | |
Equities | |
Percent Invested | 97.5 % |
Sector Breakdown* (% of equity portfolio):
Information Technology | 29.3 % |
Health Care | 17.4 % |
Industrials | 17.3 % |
Financials | 12.7 % |
Consumer Discretionary | 9.7 % |
Communication Services | 5.9 % |
Consumer Staples | 3.9 % |
Real Estate | 2.0 % |
Materials | 1.0 % |
Energy | 0.8 % |
Total Market Value | 100.0 % |
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS). | |
New Holdings:
Eli Lilly & Co.
MarketAxess Holdings, Inc.
Holdings Liquidated:
Avery Dennison Corp.
Charles River Laboratories International, Inc.
CoStar Group, Inc.
Ulta Beauty, 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 2024 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 a 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 October 31, 2024 unless otherwise noted.
Liberty All-Star® Growth Fund, Inc.
1-800-241-1850
www.all-starfunds.com
libinfo@alpsinc.com
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SOURCE Liberty All-Star Growth Fund, Inc.
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