Liberty All-Star® Growth Fund, Inc. April 2024 Monthly Update
The Liberty All-Star Growth Fund (NYSE: ASG) released its April 2024 monthly update, detailing its investment strategy and performance. The fund integrates three distinct growth style managers focusing on small-cap, mid-cap, and large-cap investments. Key holdings include SPS Commerce (2.4%), Amazon (2.3%), and Microsoft (2.2%).
The fund's NAV decreased from $6.08 to $5.58, and the market price fell from $5.49 to $5.09, reflecting monthly performance declines of 6.06% and 5.10%, respectively. Year-to-date, the NAV and market price increased by 1.36% and 0.69%.
The sector allocation as of April 30, 2024, includes Information Technology (24.2%), Health Care (22.3%), and Industrials (17.3%). New additions to the portfolio are Descartes Systems Group, First Advantage Corp, and others, while Agiliti and Dril-Quip were liquidated. Total net assets stood at $333.0 million, with equities at $335.8 million.
- NAV increased by 1.36% year-to-date.
- Market price increased by 0.69% year-to-date.
- New holdings added, including Descartes Systems Group and First Advantage Corp.
- High allocation in Information Technology and Health Care sectors, which are typically growth-driven.
- NAV decreased from $6.08 to $5.58 in April.
- Market price fell from $5.49 to $5.09 in April.
- Monthly performance showed declines of 6.06% (NAV) and 5.10% (market price).
- The fund is trading at a -8.8% discount to NAV.
- Liquidation of multiple holdings, including Agiliti and Dril-Quip, without clear reasons.
Liberty All-Star Growth Fund, Inc.
Ticker: ASG
Monthly Update, April, 2024
Investment Approach:
Fund Style: All-Cap Growth
Fund Strategy: Combines three growth style investment managers, each with a distinct capitalization focus (small-, mid- and large-cap) selected and continuously monitored by the Fund's Investment Advisor.
Investment Managers:
Weatherbie Capital, LLC
Small-Cap Growth
Congress Asset Management Company, LLP
Mid-Cap Growth
Sustainable Growth Advisers, LP
Large-Cap Growth
Top 20 Holdings at Month-End | ||
( | ||
1 | SPS Commerce, Inc. | 2.4 % |
2 | Amazon.com, Inc. | 2.3 % |
3 | Microsoft Corp. | 2.2 % |
4 | Vertex, Inc. | 1.8 % |
5 | Visa, Inc. | 1.7 % |
6 | Casella Waste Systems, Inc. | 1.7 % |
7 | FirstService Corp. | 1.7 % |
8 | Natera, Inc. | 1.7 % |
9 | Glaukos Corp. | 1.6 % |
10 | StepStone Group, Inc. | 1.6 % |
11 | UnitedHealth Group, Inc. | 1.6 % |
12 | Danaher Corp. | 1.5 % |
13 | SiteOne Landscape Supply, Inc. | 1.5 % |
14 | Alphabet, Inc. | 1.4 % |
15 | Crane Co. | 1.4 % |
16 | S&P Global, Inc. | 1.3 % |
17 | Progyny, Inc. | 1.3 % |
18 | Transcat, Inc. | 1.3 % |
19 | Ollie's Bargain Outlet Holdings, Inc. | 1.2 % |
20 | Yum! Brands, Inc. | 1.2 % |
Holdings are subject to change.
Monthly Performance | |||
Performance | NAV | Market Price | Discount |
Beginning of month value | -9.7 % | ||
Distributions (Ex-Date April 18th) | |||
End of month value | -8.8 % | ||
Performance for month | -6.06 % | -5.10 % | |
Performance year-to-date | 1.36 % | 0.69 % |
Net Assets at Month-End ($millions) | |
Total | |
Equities | |
Percent Invested | 100.8 % |
Sector Breakdown (% of equity portfolio)* | |
Information Technology | 24.2 % |
Health Care | 22.3 % |
Industrials | 17.3 % |
Financials | 13.5 % |
Consumer Discretionary | 10.8 % |
Materials | 3.7 % |
Communication Services | 3.2 % |
Consumer Staples | 2.0 % |
Real Estate | 1.8 % |
Energy | 1.2 % |
Total Market Value | 100.0 % |
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS).
New Holdings
Descartes Systems Group, Inc.
First Advantage Corp.
Loar Holdings, Inc.
Neogen Corp.
PROS Holdings, Inc.
Pure Storage, Inc.
Semtech Corp.
Synopsys, Inc.
Holdings Liquidated
Agiliti, Inc.
Dril-Quip, Inc.
Globant SA
NV5 Global, Inc.
Paycom Software, 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 April 30, 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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