Liberty All-Star® Growth Fund, Inc. May 2024 Monthly Update
The Liberty All-Star Growth Fund (ASG) released its May 2024 monthly update, detailing performance and portfolio changes. The Fund, using an all-cap growth strategy, combines three investment managers focused on small, mid, and large-cap growth stocks. The top holdings, representing 33.7% of the equity portfolio, include SPS Commerce, Amazon, and Microsoft. Monthly performance showed a NAV increase of 2.87% and a market price increase of 2.75%, with year-to-date returns at 4.19% and 3.38% respectively. Net assets totaled $345.5 million with a 98.2% investment rate. Sector-wise, Information Technology leads at 24.3%, followed by Health Care at 21.2%. The Fund added Meta Platforms and liquidated five holdings. It trades at a discount of 8.9% to NAV, with total returns including dividends and net of fees.
- NAV increased by 2.87%.
- Market price increased by 2.75%.
- Year-to-date NAV performance at 4.19%.
- Total net assets reached $345.5 million.
- High investment rate of 98.2%.
- Information Technology sector leads with 24.3% of the portfolio.
- Added Meta Platforms to the portfolio.
- Fund continues to trade at a discount of 8.9% to NAV.
- Liquidated holdings include Ball Corp, Equinix, and others.
- Market price performance of 3.38% year-to-date is lower than NAV performance.
Liberty All-Star Growth Fund, Inc.
Ticker: ASG
Monthly Update, May 2024
Investment Approach:
Fund Style: All-Cap Growth
Fund Strategy: Combines three growth style investment managers, each with a distinct capitalization focus (small-, mid- and large-cap) selected and continuously monitored by the Fund's Investment Advisor.
Investment Managers:
- Weatherbie Capital, LLC
Small-Cap Growth - Congress Asset Management Company, LLP
Mid-Cap Growth - Sustainable Growth Advisers, LP
Large-Cap Growth
Top 20 Holdings at Month-End: | ||
( | ||
1 | SPS Commerce, Inc. | 2.5 % |
2 | Amazon.com, Inc. | 2.3 % |
3 | Microsoft Corp. | 2.3 % |
4 | Vertex, Inc. | 2.0 % |
5 | Natera, Inc. | 1.9 % |
6 | Casella Waste Systems, Inc. | 1.9 % |
7 | Glaukos Corp. | 1.9 % |
8 | Visa, Inc. | 1.7 % |
9 | FirstService Corp. | 1.7 % |
10 | StepStone Group, Inc. | 1.7 % |
11 | UnitedHealth Group, Inc. | 1.6 % |
12 | SiteOne Landscape Supply, Inc. | 1.5 % |
13 | Crane Co. | 1.4 % |
14 | Transcat, Inc. | 1.4 % |
15 | Hamilton Lane, Inc. | 1.4 % |
16 | NVIDIA Corp. | 1.3 % |
17 | S&P Global, Inc. | 1.3 % |
18 | Novo Nordisk A/S | 1.3 % |
19 | Danaher Corp. | 1.3 % |
20 | nVent Electric PLC | 1.3 % |
Holdings are subject to change. | ||
Monthly Performance: | |||
Performance | NAV | Market Price | Discount |
Beginning of month value | -8.8 % | ||
End of month value | -8.9 % | ||
Performance for month | 2.87 % | 2.75 % | |
Performance year-to-date | 4.19 % | 3.38 % | |
Net Assets at Month-End ($millions): | |
Total | |
Equities | |
Percent Invested | 98.2 % |
Sector Breakdown* (% of equity portfolio): | |
Information Technology | 24.3 % |
Health Care | 21.2 % |
Industrials | 18.4 % |
Financials | 13.7 % |
Consumer Discretionary | 10.4 % |
Communication Services | 4.3 % |
Materials | 2.9 % |
Consumer Staples | 1.9 % |
Real Estate | 1.7 % |
Energy | 1.2 % |
Total Market Value | 100.0 % |
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS). | |
New Holdings:
Meta Platforms, Inc.
Holdings Liquidated:
Ball Corp.
Equinix, Inc.
Latham Group, Inc.
Mettler-Toledo International, Inc.
Perficient, 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 May 31, 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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