Liberty All-Star® Growth Fund, Inc. July 2020 Monthly Update

Rhea-AI Summary

The Liberty All-Star Growth Fund (NYSE: ASG) published its July 2020 monthly update. The fund employs an all-cap growth strategy through three managers focusing on small-, mid-, and large-cap investments. As of July 31, 2020, total net assets were $281.8 million, with 99.9% invested in equities. The fund’s NAV increased by 6.32% for the month, while the market price rose by 15.37%. The top holdings included Chegg, Inc. and Microsoft Corp., and the portfolio emphasized Information Technology (31.8%) and Health Care (25.1%). Recent changes include new positions in Neurocrine Biosciences, Inc. and Vertex, Inc.

Positive

• NAV rose by 6.32% in July.
• Market price increased by 15.37%.
• Total net assets of $281.8 million.
• Portfolio primarily focused on high-performing sectors like Information Technology and Health Care.

Negative

• None.

BOSTON, Aug. 14, 2020 /PRNewswire/ -- Below is the July 2020 Monthly Update for the Liberty All-Star Growth Fund, Inc. (NYSE: ASG)

Liberty All-Star Growth Fund, Inc.                                   
Ticker: ASG
Monthly Update, July, 2020  

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
	(31.0% of equity portfolio)
1	Chegg, Inc.	2.3%
2	FirstService Corp.	2.1%
3	Nevro Corp.	1.9%
4	Paylocity Holding Corp.	1.7%
5	Microsoft Corp.	1.7%
6	Visa, Inc.	1.6%
7	Facebook, Inc.	1.6%
8	Amazon.com, Inc.	1.6%
9	Progyny, Inc.	1.5%
10	Casella Waste Systems, Inc.	1.5%
11	Alphabet, Inc.	1.5%
12	Abbott Laboratories	1.4%
13	Insulet Corp.	1.4%
14	salesforce.com, Inc.	1.4%
15	Everbridge, Inc.	1.4%
16	FleetCor Technologies, Inc.	1.4%
17	Ollie's Bargain Outlet Holdings, Inc.	1.3%
18	PayPal Holdings, Inc.	1.3%
19	UnitedHealth Group, Inc.	1.2%
20	Yum! Brands, Inc.	1.2%
Holdings are subject to change.

 

Monthly Performance
Performance	NAV	Market Price	Premium/(Discount)
Beginning of month value	$6.29	$6.29	-3.1%
Distributions (Ex-Date July 23)	$0.13	$0.13
End of month value	$6.77	$7.12%	5.2%
Performance for month	6.32%	15.37%
Performance year-to-date	16.93%	17.11%

 

Net Assets at Month-End ($millions)
Total	$281.8
Equities	$281.6
Percent Invested	99.9%

 

Sector Breakdown (% of equity portfolio)*
Information Technology	31.8%
Health Care	25.1%
Consumer Discretionary	12.8%
Industrials	12.1%
Communication Services	4.5%
Financials	4.1%
Real Estate	4.0%
Materials	3.1%
Consumer Staples	2.2%
Energy	0.3%
Total Market Value	100.0%
*Based on Standard & Poor's and MSCI Barra Global Industry Classification Standard (GICS).

New Holdings
Neurocrine Biosciences, Inc.
Vertex, Inc.

Holdings Liquidated
Avery Dennison Corp.

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 and all primary rights in the Fund's rights offering were exercised. 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 2020 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 no portion of the distributions consists 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 July 31, 2020 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.

FAQ

What is the Liberty All-Star Growth Fund's performance in July 2020?

The Liberty All-Star Growth Fund reported a NAV increase of 6.32% and a market price rise of 15.37% in July 2020.

What are the top holdings of the Liberty All-Star Growth Fund as of July 2020?

As of July 2020, the top holdings included Chegg, Inc., FirstService Corp., and Nevro Corp.

What sectors does the Liberty All-Star Growth Fund focus on?

The fund primarily focuses on Information Technology (31.8%) and Health Care (25.1%) sectors.

What is the total net asset value of the Liberty All-Star Growth Fund?

The total net assets of the Liberty All-Star Growth Fund at month-end July 2020 were $281.8 million.

What changes occurred in the Liberty All-Star Growth Fund's holdings in July 2020?

New holdings added in July included Neurocrine Biosciences, Inc. and Vertex, Inc., while Avery Dennison Corp. was liquidated.