Liberty All-Star® Growth Fund, Inc. November 2025 Monthly Update

The Liberty All-Star Growth Fund, Inc. (NYSE: ASG) provided its monthly update for November 2025, showcasing a diversified strategy that leverages three distinct growth style investment managers focusing on small, mid, and large-cap equities. The fund, which is designed to invest in a variety of growth sectors, is managed by Weatherbie Capital for small-cap growth, Congress Asset Management for mid-cap growth, and Westfield Capital Management for large-cap growth.

As of the end of November, the fund's top holdings represented 38.3% of the equity portfolio, with notable investments in technology giants such as NVIDIA Corp., Apple, Microsoft, and Alphabet. The sector allocation reflects a strong emphasis on Information Technology (29.5%), followed by Industrials (23.5%) and Health Care (16.7%).

Month-end net asset value (NAV) stood at $5.99, with the market price at $5.37, indicating a discount of 10.4%. The fund’s performance for November reflected a slight 0.06% growth in NAV but a decline of 0.90% in market price. Year-to-date returns were more favorable at 6.87% for NAV and 3.44% for market price.

Noteworthy changes in the portfolio included the introduction of Danaher Corp. and Everus Construction Group, while Dexcom and Palantir Technologies were liquidated. The fund's total assets were recorded at $373.8 million, with 100.4% of assets invested in equities.

Overall, the Liberty All-Star Growth Fund remains focused on delivering growth through a carefully orchestrated strategy across various market capitalizations, despite facing market fluctuations and particular challenges in November. Investors should stay mindful of the underlying risks and potential for volatility inherent in this growth-oriented investment approach.

In November 2025, the Liberty All-Star® Growth Fund, Inc. (NYSE: ASG) reported a slight decline in both net asset value (NAV) and market price, suggesting a cautious outlook for investors in the growth equity space. The NAV decreased by 2.1% during the month while the market price fell to $5.37, reflecting a 10.4% discount to NAV. This discrepancy may provide a buying opportunity for investors willing to take a long-term view on growth equities given the fund's diversified holdings across growth capitalizations.

The fund employs a multi-manager strategy, incorporating insights from Weatherbie Capital (small-cap), Congress Asset Management (mid-cap), and Westfield Capital (large-cap). This diversification across market caps allows stakeholders to capture growth opportunities across different sectors—particularly in Information Technology (29.5%) and Industrials (23.5%), which together formed over half of the equity portfolio. Given the tech sector's volatility, it’s essential to monitor these allocations closely as shifts in economic conditions could impact performance.

Notably, the fund has maintained significant positions in tech giants like NVIDIA, Apple, and Microsoft, which are well-established and likely to weather market fluctuations better than smaller counterparts. However, with rising interest rates and inflationary pressures, the growth potential of these names could face headwinds, warranting a balanced approach.

Looking ahead, investors should remain vigilant about sector shifts and emerging trends, such as advancements in artificial intelligence and infrastructure spending, which could influence fund performance. Furthermore, the recent inclusion of Danaher Corp. and Everus Construction Group indicates a strategy aimed at diversification and the exploitation of growth segments.

Ultimately, potential investors may find value in ASG at its current discounted pricing, although they should be prepared for volatility inherent in growth-oriented assets and conduct thorough due diligence.