Liberty All-Star® Equity Fund March 2025 Monthly Update
Rhea-AI Summary
The Liberty All-Star Equity Fund (NYSE: USA) has released its March 2025 monthly update. The fund, which combines three value-style and two growth-style investment managers, reported a decline in performance with NAV decreasing by -5.01% and market price falling -5.48% during March. Year-to-date performance shows -2.13% NAV and -3.46% market price returns.
The fund's portfolio, valued at $1,940.0 million, maintains 97.7% investment in equities. The top three holdings are Microsoft Corp. (4.0%), NVIDIA Corp. (3.3%), and Alphabet Inc. (2.8%). Sector allocation is led by Information Technology (22.3%), Financials (20.0%), and Health Care (16.9%). During the period, three holdings were liquidated: Honeywell International, MSCI, and TJX Cos., with no new positions added.
Positive
- Portfolio remains highly invested with 97.7% in equities
- Well-diversified across sectors with balanced allocation
- Strong technology exposure through top holdings in leading companies (Microsoft, NVIDIA, Alphabet)
Negative
- Fund performance declined significantly in March (-5.01% NAV, -5.48% market price)
- Year-to-date returns are negative (-2.13% NAV, -3.46% market price)
- Trading discount to NAV widened from -0.9% to -1.4%
Liberty All-Star Equity Fund
Ticker:
Monthly Update, March 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. | 3.3 % |
3 | Alphabet, Inc. | 2.8 % |
4 | Amazon, Inc. | 2.6 % |
5 | UnitedHealth Group, Inc. | 2.3 % |
6 | Visa, Inc. | 2.1 % |
7 | Meta Platforms, Inc. | 1.9 % |
8 | ServiceNow, Inc. | 1.7 % |
9 | Capital One Financial Corp. | 1.6 % |
10 | Sony Group Corp. | 1.5 % |
11 | Fresenius Medical Care AG | 1.5 % |
12 | S&P Global, Inc. | 1.4 % |
13 | CVS Health Corp. | 1.4 % |
14 | Charles Schwab Corp. | 1.3 % |
15 | Berkshire Hathaway, Inc. | 1.3 % |
16 | Baxter International, Inc. | 1.2 % |
17 | O'Reilly Automotive, Inc. | 1.1 % |
18 | Danaher Corp. | 1.1 % |
19 | Booking Holdings, Inc. | 1.1 % |
20 | Gartner, Inc. | 0.9 % |
Holdings are subject to change.
Monthly Performance:
Performance | NAV | Market Price | Discount |
Beginning of month value | -0.9 % | ||
End of month value | -1.4 % | ||
Performance for month | -5.01 % | -5.48 % | |
Performance year-to-date | -2.13 % | -3.46 % |
Net Assets at Month-End ($millions):
Total | |
Equities | |
Percent Invested | 97.7 % |
Sector Breakdown* (% of equity portfolio):
Information Technology | 22.3 % |
Financials | 20.0 % |
Health Care | 16.9 % |
Consumer Discretionary | 11.7 % |
Industrials | 8.8 % |
Communication Services | 6.6 % |
Consumer Staples | 5.1 % |
Materials | 4.5 % |
Energy | 2.3 % |
Utilities | 1.5 % |
Real Estate | 0.3 % |
Total Market Value | 100.0 % |
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS).
New Holdings:
None
Holdings Liquidated:
Honeywell International, Inc.
MSCI, Inc.
TJX Cos., 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 March 31, 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 was Liberty All-Star Equity Fund's (USA) performance in March 2025?
What are the top 3 holdings in the USA fund as of March 2025?
How is the USA fund's sector allocation distributed as of March 2025?
What changes were made to the USA fund's portfolio in March 2025?
What is the current discount of the USA fund trading price to NAV?
