Liberty All-Star® Equity Fund February 2025 Monthly Update
Rhea-AI Summary
Liberty All-Star Equity Fund (NYSE: USA) has released its February 2025 monthly update. The fund employs a large-cap core strategy combining three value-style and two growth-style investment managers. The management team includes Aristotle Capital Management, Fiduciary Management, and Pzena Investment Management as value managers, alongside Sustainable Growth Advisers and TCW Investment Management Company as growth managers.
Notable portfolio changes include the addition of Corebridge Financial as a new holding, while several positions were liquidated including American Tower Corp, Cie Generale des Etablissements Michelin SCA, JPMorgan Chase & Co, and Micron Technology.
The fund's performance includes total returns net of management fees and expenses, with distributions potentially comprising ordinary dividends, long-term capital gains, and return of capital. The final tax characterization of 2025 distributions will be determined after year-end.
Positive
- Diversified management approach with multiple value and growth investment managers
- Active portfolio management demonstrated through new position additions and strategic exits
Negative
- Portfolio shows significant turnover with multiple positions being liquidated
- Portion of distributions may consist of return of capital, which could impact long-term fund value
Liberty All-Star Equity Fund
Ticker:
Monthly Update, February 2025
Investment Approach:
Fund Style: Large-Cap Core
Fund Strategy: Combines three value-style and two growth-style investment managers. Those selected demonstrate a consistent investment philosophy, decision making process, continuity of key people and above-average long-term results compared to managers with similar styles.
Investment Managers:
Value Managers:
- Aristotle Capital Management, LLC
- Fiduciary Management, Inc.
- Pzena Investment Management, LLC
Growth Managers:
- Sustainable Growth Advisers, LP
- TCW Investment Management Company
Top 20 Holdings at Month-End:
( | ||
1 | Microsoft Corp. | 4.0 % |
2 | NVIDIA Corp. | 3.5 % |
3 | Amazon.com, Inc. | 2.6 % |
4 | Alphabet, Inc. | 2.5 % |
5 | Meta Platforms, Inc. | 2.1 % |
6 | Visa, Inc. | 2.0 % |
7 | UnitedHealth Group, Inc. | 2.0 % |
8 | Capital One Financial Corp. | 1.6 % |
9 | ServiceNow, Inc. | 1.6 % |
10 | Sony Group Corp. | 1.4 % |
11 | S&P Global, Inc. | 1.4 % |
12 | Fresenius Medical Care AG | 1.4 % |
13 | CVS Health Corp. | 1.3 % |
14 | Charles Schwab Corp. | 1.2 % |
15 | Berkshire Hathaway, Inc. | 1.2 % |
16 | Baxter International, Inc. | 1.2 % |
17 | Booking Holdings, Inc. | 1.1 % |
18 | Ecolab, Inc. | 1.1 % |
19 | O'Reilly Automotive, Inc. | 1.1 % |
20 | Danaher Corp. | 1.0 % |
Holdings are subject to change. | ||
Monthly Performance: | |||
Performance | NAV | Market Price | Premium/(Discount) |
Beginning of month value | 0.4 % | ||
End of month value | -0.9 % | ||
Performance for month | -1.41 % | -2.67 % | |
Performance year-to-date | 3.03 % | 2.14 % | |
Net Assets at Month-End ($millions): | |
Total | |
Equities | |
Percent Invested | 99.6 % |
Sector Breakdown* (% of equity portfolio): | |
Information Technology | 22.4 % |
Financials | 20.6 % |
Health Care | 16.0 % |
Consumer Discretionary | 12.2 % |
Industrials | 9.4 % |
Communication Services | 6.4 % |
Consumer Staples | 4.7 % |
Materials | 4.6 % |
Energy | 2.0 % |
Utilities | 1.4 % |
Real Estate | 0.3 % |
Total Market Value | 100.0 % |
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS). | |
New Holdings:
Corebridge Financial, Inc.
Holdings Liquidated:
American Tower Corp.
Cie Generale des Etablissements Michelin SCA
JPMorgan Chase & Co.
Micron Technology, 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 2025 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 February 28, 2025 unless otherwise noted.
Liberty All-Star® Equity Fund
1-800-241-1850
www.all-starfunds.com
libinfo@alpsinc.com
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SOURCE Liberty All-Star Equity Fund
FAQ
What investment strategy does Liberty All-Star Equity Fund (USA) follow?
Which stocks were removed from USA's portfolio in February 2025?
What types of distributions does Liberty All-Star Equity Fund (USA) make to shareholders?
What new stock position did Liberty All-Star Fund (USA) add in February 2025?
