Liberty All-Star Growth Fund: Key August 2024 Insights
Monthly Update Overview
In our latest monthly update, we delve into the performance metrics and investment strategies of Liberty All-Star Growth Fund, Inc. (NASDAQ: ASG). This August 2024 report offers insights into the fund's positioning and management approaches.
Investment Strategy
The Liberty All-Star Growth Fund adopts an all-cap growth strategy. This approach consolidates the expertise of three distinct investment managers who possess unique focuses on small-, mid-, and large-cap stocks. The fund's investment advisor continuously monitors these managers to ensure optimal portfolio allocation.
Investment Managers
The fund is managed by leading investment firms including:
- Weatherbie Capital, LLC: Specializes in small-cap growth investments.
- Congress Asset Management Company, LLP: Focuses on mid-cap growth opportunities.
- Westfield Capital Management Company, L.P.: Dedicated to large-cap growth.
Top Holdings
As of the end of the month, Liberty All-Star Growth Fund's top 20 holdings represent a substantial portion of the equity portfolio, totaling 33.0%. Here are the notable mentions:
- 1. Amazon.com, Inc. - 2.4%
- 2. Microsoft Corp. - 2.2%
- 3. SPS Commerce, Inc. - 2.1%
- 4. FirstService Corp. - 2.0%
- 5. Casella Waste Systems, Inc. - 1.9%
These holdings are indicative of the fund's strategy to capitalize on leading companies across various sectors.
Performance Analysis
The monthly performance report indicates a fluctuation in both net asset value (NAV) and market price throughout August. The NAV stood at $5.96 at month’s end, compared to $5.84 at the beginning. The fund experienced a monthly performance gain of 2.05%, with a year-to-date performance figure of 10.60%.
Net Assets and Investments
The total assets of Liberty All-Star Growth Fund at the end of August were reported at $361.2 million, with $355.2 million allocated to equities, indicating robust investment practices with a 98.3% investment rate.
Sector Allocation
The fund’s sector allocation reveals a diversified strategy to mitigate risk while pursuing growth potential:
- Information Technology: 26.4%
- Health Care: 21.4%
- Industrials: 16.5%
- Financials: 14.8%
- Consumer Discretionary: 9.5%
By investing across diverse sectors, the fund seeks to enhance its resilience against market volatility.
Recent Adjustments in Holdings
During August, Liberty All-Star Growth Fund made strategic adjustments in its portfolio:
- New Holdings: Halozyme Therapeutics, Inc., MYR Group, Inc., and US Foods Holding Corp.
- Holdings Liquidated: Darden Restaurants, Inc., Definitive Healthcare Corp., and STERIS PLC.
Conclusion
This monthly update reflects Liberty All-Star Growth Fund's commitment to effective management and growth strategies. The recent changes in holdings and a solid performance outlook suggest that the fund is well-positioned for the future.
Frequently Asked Questions
1. What is the main investment strategy of Liberty All-Star Growth Fund?
The fund employs an all-cap growth strategy by using three distinct management teams focusing on small-, mid-, and large-cap stocks.
2. Who are the investment managers of the fund?
The fund's portfolio is managed by Weatherbie Capital, Congress Asset Management, and Westfield Capital Management.
3. What are the reported net assets of the Liberty All-Star Growth Fund?
The total net assets were reported at $361.2 million as of August 2024.
4. How is the performance of the fund trending?
The fund recorded a monthly performance gain of 2.05% and a year-to-date performance of 10.60%.
5. What sectors is the fund heavily invested in?
The fund is significantly invested in sectors like Information Technology, Health Care, Industrials, and Financials.
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Disclaimer: The content of this article is solely for general informational purposes only; it does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice; the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. The author's interpretation of publicly available data shapes the opinions presented here; as a result, they should not be taken as advice to purchase, sell, or hold any securities mentioned or any other investments. The author does not guarantee the accuracy, completeness, or timeliness of any material, providing it "as is." Information and market conditions may change; past performance is not indicative of future outcomes. If any of the material offered here is inaccurate, please contact us for corrections.
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