Liberty All-Star Equity Fund Releases January 2026 Monthly Update
February 14, 2026 — Leads & Copy —
The Liberty All-Star Equity Fund (NYSE: USA) has released its January 2026 monthly update. The fund employs a large-cap core style, combining three value-style and two growth-style investment managers.
The selected managers demonstrate a consistent investment philosophy, decision-making process, continuity of key personnel, and above-average long-term results compared to managers with similar styles.
The value managers are Aristotle Capital Management, LLC, Fiduciary Management, Inc., and Pzena Investment Management, LLC. The growth managers are Sustainable Growth Advisers, LP, and TCW Investment Management Company.
The fund’s top 20 holdings at the end of January 2026, which constitute 37.1% of the equity portfolio, are: NVIDIA Corp. (5.0%), Alphabet, Inc. (4.5%), Microsoft Corp. (4.0%), Amazon.com, Inc. (2.7%), Capital One Financial Corp. (2.0%), Meta Platforms, Inc. (1.8%), Broadcom Inc. (1.6%), Charles Schwab Corp. (1.6%), Visa, Inc. (1.5%), Wells Fargo & Co. (1.3%), Fresenius Medical Care AG (1.3%), S&P Global, Inc. (1.2%), Synopsys, Inc. (1.2%), Ferguson Enterprises, Inc. (1.1%), CVS Health Corp. (1.1%), Baxter International, Inc. (1.1%), Booking Holdings, Inc. (1.1%), Mastercard, Inc. (1.0%), Avery Dennison Corp. (1.0%), and Parker-Hannifin Corp. (1.0%).
The fund’s net asset value (NAV) at the beginning of January was $6.84, while the market price was $6.28, resulting in a discount of -8.2%. Distributions of $0.18 per share were made on January 22nd. By the end of the month, the NAV was $6.65 and the market price was $6.06, with the discount widening to -8.9%. The fund’s NAV performance for the month was 0.11%, while the market price performance was -0.64%. Year-to-date performance figures are the same as the monthly performance.
Net assets at the end of January totaled $2,005.8 million, with $2,019.9 million allocated to equities, representing 100.7% investment.
Sector allocation includes: Information Technology (23.8%), Financials (19.9%), Health Care (13.3%), Consumer Discretionary (10.8%), Industrials (10.4%), Communication Services (7.5%), Consumer Staples (5.4%), Materials (5.3%), Energy (1.8%), Utilities (1.2%), and Real Estate (0.6%).
A new holding added was Motorola Solutions, Inc. SLB, Ltd. was liquidated during the period.
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 2026 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 January 31, 2026 unless otherwise noted.
Source: Liberty All-Star Equity Fund
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