Liberty All-Star funds report September 2026 results for USA and ASG

what happened

Liberty All-Star Equity Fund (USA) and Liberty All-Star Growth Fund, Inc. (ASG) released their September 2026 monthly updates, according to a Business Wire press release. As of September 30, 2026, USA had net assets of $2,057.3 million, with 98.0% of the portfolio invested in equities. Its NAV fell 3.37% over the month to $6.60, while the market price dropped 3.67% to $5.77. The discount to NAV stood at 12.6%. Year to date, NAV is up 4.83%, while the share price is down 0.18%.

ASG had net assets of $374.8 million and 98.5% invested in equities. Its NAV declined 1.35% in September to $5.84, and the market price fell 2.88% to $5.05, a discount of 13.5%. Year to date, NAV is up 6.42% and the share price is up 1.74%. The report also lists new holdings in Argenx SE, IQVIA Holdings and Royalty Pharma PLC, and six liquidated positions: Credo Technology, FTAI Aviation, Gilead Sciences, Marriott International, Vertiv and Viking Holdings.

In USA, NVIDIA (6.4% of the equity portfolio) and Alphabet (4.7%) are the largest positions, and the top 20 holdings make up 39.1%. In ASG, the top 20 account for 33.6%, with NVIDIA at 4.7%. Information Technology is the largest sector in both funds, at 28.0% for USA and 37.0% for ASG. Both updates note that past performance does not predict future results.

why it matters

For closed-end fund investors, the key figure is the gap between NAV and market price. At the end of September both funds traded at discounts above 12%, meaning the share price moved differently from the value of the underlying holdings. The data is as of September 30, 2026, and this is a routine monthly report that contains no forecasts.

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