Liberty All-Star® Equity Fund November 2024 Monthly Update
Rhea-AI Summary
The Liberty All-Star Equity Fund (NYSE: USA) released its November 2024 monthly update, revealing strong performance metrics. The fund combines three value-style and two growth-style investment managers, with a large-cap core focus. The fund's NAV increased from $7.07 to $7.34, while the market price rose from $7.03 to $7.30. Notable performance includes a 6.38% monthly return on NAV and a 20.39% year-to-date return.
The fund's portfolio, valued at $2,096.4 million, is 99.6% invested in equities. The top three sector allocations are Information Technology (22.5%), Financials (21.3%), and Health Care (14.5%). The top holdings include Microsoft (4.0%), NVIDIA (3.7%), and Amazon (2.7%), with the top 20 holdings comprising 34.5% of the equity portfolio.
Positive
- Strong monthly performance with 6.38% NAV return and 6.40% market price return
- Impressive YTD performance of 20.39% NAV return and 26.68% market price return
- High investment rate at 99.6% of total assets
- Narrow discount to NAV of only -0.5%
Negative
- None.
Insights
The November update reveals solid performance metrics for the Liberty All-Star Equity Fund. The fund posted impressive monthly returns of
Liberty All-Star Equity Fund
Ticker:
Monthly Update, November 2024
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
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1 | Microsoft Corp. | 4.0 % |
2 | NVIDIA Corp. | 3.7 % |
3 | Amazon.com, Inc. | 2.7 % |
4 | Alphabet, Inc. | 2.6 % |
5 | UnitedHealth Group, Inc. | 2.3 % |
6 | Visa, Inc. | 1.9 % |
7 | ServiceNow, Inc. | 1.9 % |
8 | Meta Platforms, Inc. | 1.7 % |
9 | Capital One Financial Corp. | 1.5 % |
10 | S&P Global, Inc. | 1.4 % |
11 | Charles Schwab Corp. | 1.3 % |
12 | Fresenius Medical Care AG | 1.2 % |
13 | Booking Holdings, Inc. | 1.1 % |
14 | Sony Group Corp. | 1.1 % |
15 | Ecolab, Inc. | 1.1 % |
16 | Berkshire Hathaway, Inc. | 1.0 % |
17 | Ferguson Enterprises, Inc. | 1.0 % |
18 | Danaher Corp. | 1.0 % |
19 | O'Reilly Automotive, Inc. | 1.0 % |
20 | Wells Fargo & Co. | 1.0 % |
Holdings are subject to change. | ||
Monthly Performance: | |||
Performance | NAV | Market Price | Discount |
Beginning of month value | -0.6 % | ||
Distributions (Ex-Date November 15th) | |||
End of month value | -0.5 % | ||
Performance for month | 6.38 % | 6.40 % | |
Performance year-to-date | 20.39 % | 26.68 % |
Net Assets at Month-End ($millions): | |
Total | |
Equities | |
Percent Invested | 99.6 % |
Sector Breakdown* (% of equity portfolio): | |
Information Technology | 22.5 % |
Financials | 21.3 % |
Health Care | 14.5 % |
Consumer Discretionary | 12.5 % |
Industrials | 9.2 % |
Communication Services | 7.1 % |
Consumer Staples | 4.6 % |
Materials | 4.4 % |
Energy | 1.8 % |
Utilities | 1.5 % |
Real Estate | 0.6 % |
Total Market Value | 100.0 % |
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS). | |
New Holdings
None
Holdings Liquidated:
Arch Capital Group, Ltd.
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 November 30, 2024 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
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