Liberty All-Star® Equity Fund November 2025 Monthly Update
MWN-AI** Summary
In its November 2025 Monthly Update, the Liberty All-Star® Equity Fund (NYSE: USA) reported a slight decrease in performance but an overall positive year-to-date outlook. The fund, focused on a large-cap core investment strategy, integrates the expertise of three value-style and two growth-style investment managers, selected for their consistent philosophy and above-average long-term results. The fund's top holdings, accounting for 38.3% of its equity portfolio, feature prominent names like NVIDIA, Microsoft, and Alphabet, reflecting a strong emphasis on technology, which makes up 25.3% of the equity allocation.
At the end of November, the net asset value (NAV) of the fund was $6.79 per share, down 0.17% from the previous month, with the market price at $6.13, also seeing a slight decline. Despite this monthly dip, the fund has achieved an impressive year-to-date performance of 8.02%, contrasting with a market price decline of 2.48%. Total assets under management reached approximately $2.02 billion, with full investment in equities.
Sector-wise, the fund diversifies its investments across various segments, with significant allocations in financials (18.9%), healthcare (13.7%), and consumer discretionary (11.0%). Notably, this month saw new holdings in Arch Capital Group and Welltower, while several positions, including CarMax and Dexcom, were liquidated.
The fund continues to navigate market fluctuations, reminding investors that while past performance offers insights, it does not guarantee future results. Shareholders are encouraged to consider the inherent risks of investing, including potential loss of principal.
MWN-AI** Analysis
The Liberty All-Star® Equity Fund (NYSE: USA) has shown resilience amidst fluctuating market conditions, maintaining a robust long-term performance anchored in a strong investment strategy. As we analyze the November 2025 monthly update, several key indicators emerge that warrant attention from both current and prospective investors.
Notably, the fund’s year-to-date performance stands at 8.02%, contrasting with a negative 2.48% year-to-date change in market price, which highlights the fund trading at a significant discount to its NAV (net asset value). This could present a compelling buying opportunity for value-conscious investors, especially considering the underlying strength within the fund's portfolio, which is heavily weighted towards technology (25.3%), followed by financials (18.9%), and healthcare (13.7%). Leading positions in major companies like NVIDIA, Microsoft, and Alphabet reaffirm the fund's growth potential.
The diversified approach, combining both value and growth investment strategies, is another reason to remain optimistic. With major contributors from both categories, the fund captures upside potential while mitigating risk. The recent additions, such as Arch Capital Group and Welltower, reflect a strategic shift that broadens its investment landscape.
Investors should be aware of the inherent risks involved, particularly given the ongoing market volatility and the fund's structured reliance on capital appreciation and dividends to sustain its payouts. The distribution of 17 cents per share indicates that the fund is still generating returns, which may include a return of capital—a factor to consider for tax implications.
In conclusion, while Liberty All-Star® Equity Fund faces market challenges, its solid performance metrics, strategic leadership in investment management, and attractive discount on market shares suggest a discerning opportunity for growth-oriented portfolios. Investors looking to capitalize on potential market rebounds might consider this fund as part of a well-diversified investment strategy.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Below is the November 2025 Monthly Update for the Liberty All-Star Equity Fund (NYSE: USA).
Liberty All-Star Equity Fund
Ticker: USA
Monthly Update, November 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:
(38.3% of equity portfolio) | ||
1 | NVIDIA Corp. | 4.9% |
2 | Microsoft Corp. | 4.7% |
3 | Alphabet, Inc. | 4.3% |
4 | Amazon.com, Inc. | 2.7% |
5 | Capital One Financial Corp. | 2.1% |
6 | Broadcom Inc. | 1.8% |
7 | Meta Platforms, Inc. | 1.7% |
8 | Visa, Inc. | 1.6% |
9 | Wells Fargo & Co. | 1.4% |
10 | Charles Schwab Corp. | 1.4% |
11 | Fresenius Medical Care AG | 1.3% |
12 | ServiceNow, Inc. | 1.3% |
13 | Sony Group Corp. | 1.3% |
14 | S&P Global, Inc. | 1.2% |
15 | CVS Health Corp. | 1.2% |
16 | Parker-Hannifin Corp. | 1.1% |
17 | UnitedHealth Group, Inc. | 1.1% |
18 | Ferguson Enterprises, Inc. | 1.1% |
19 | Synopsys, Inc. | 1.1% |
20 | Booking Holdings, Inc. | 1.0% |
Holdings are subject to change.
Monthly Performance:
Performance | NAV | Market Price | Discount |
Beginning of month value | $6.99 | $6.31 | -9.7% |
Distributions (Ex-Date November 14 th ) | $0.17 | $0.17 | |
End of month value | $6.79 | $6.13 | -9.7% |
Performance for month | -0.17% | -0.16% | |
Performance year-to-date | 8.02% | -2.48% |
Net Assets at Month-End ():
Total | $2,023.6 |
Equities | $2,023.2 |
Percent Invested | 100.0% |
Sector Breakdown* (% of equity portfolio):
Information Technology | 25.3% |
Financials | 18.9% |
Health Care | 13.7% |
Consumer Discretionary | 11.0% |
Industrials | 10.5% |
Communication Services | 7.1% |
Materials | 4.8% |
Consumer Staples | 4.8% |
Energy | 2.0% |
Utilities | 1.4% |
Real Estate | 0.5% |
Total Market Value | 100.0% |
*Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS).
New Holdings:
Arch Capital Group, Ltd.
Welltower, Inc.
Holdings Liquidated:
CarMax, Inc.
Commerce Bancshares, Inc.
Dexcom, Inc.
Trade Desk, Inc.
Zoetis, 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 November 30, 2025 unless otherwise noted.
View source version on businesswire.com: https://www.businesswire.com/news/home/20251215298444/en/
Liberty All-Star® Equity Fund
1-800-241-1850
www.all-starfunds.com
libinfo@alpsinc.com
FAQ**
How does the investment strategy employed by the Liberty All-Star Equity Fund USA impact its performance in both the short and long term compared to other large-cap core funds?
What are the primary factors contributing to the current discount of the market price relative to the NAV in the Liberty All-Star Equity Fund USA, and how does this trend affect investor sentiment?
How do the recent changes in holdings, such as the addition of Arch Capital Group and the liquidation of CarMax, influence the future growth prospects for the Liberty All-Star Equity Fund USA?
Considering the sector breakdown, how might the current allocation in the Liberty All-Star Equity Fund USA be affected by potential market shifts in the Information Technology and Financials sectors?
**MWN-AI FAQ is based on asking OpenAI questions about Liberty All-Star Equity Fund (NYSE: USA).
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