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

1. ASG's February 2025 NAV decreased by 7.92%, reflecting current market challenges. 2. Top holdings include NVIDIA, Amazon, and Apple, emphasizing tech sector focus. 3. The fund’s year-to-date performance shows a decline of 4.47%. 4. 99.6% of net assets invested highlights strong commitment to equities. 5. New positions added in growth sectors, indicating active management strategy.

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FAQ

Why Bearish?

The significant drop in NAV and market price signals investor concerns, reminiscent of sector-wide downturns in previous years.

How important is it?

The relevance of NAV and asset allocation directly impacts ASG’s market perception and investor decisions.

Why Short Term?

Recent performance declines suggest immediate selling pressure, though potential for recovery exists.

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, /PRNewswire/ -- Below is the February 2025 Monthly Update for the Liberty All-Star Growth Fund, Inc. (NYSE: ASG). Liberty All-Star Growth Fund, Inc.Ticker: ASGMonthly Update, February 2025 Investment Approach:Fund Style: All-Cap GrowthFund Strategy: Combines three growth style investment managers, each with a distinct capitalization focus (small-, mid- and large-cap) selected and continuously monitored by the Fund's Investment Advisor. Investment Managers: Weatherbie Capital, LLCSmall-Cap Growth Congress Asset Management Company, LLPMid-Cap Growth Westfield Capital Management Company, L.P.Large-Cap Growth Top 20 Holdings at Month-End: (39.5% of equity portfolio) 1 NVIDIA Corp. 3.5 % 2 Amazon.com, Inc. 3.1 % 3 Apple, Inc. 3.0 % 4 Microsoft Corp. 2.7 % 5 Alphabet, Inc. 2.5 % 6 Meta Platforms, Inc. 2.4 % 7 FirstService Corp.         2.1 % 8 Ollie's Bargain Outlet Holdings, Inc.  2.0 % 9 Casella Waste Systems, Inc. 1.8 % 10 Upstart Holdings, Inc. 1.8 % 11 Visa, Inc.         1.7 % 12 Hamilton Lane, Inc. 1.7 % 13 StepStone Group, Inc.     1.7 % 14 SPS Commerce, Inc. 1.6 % 15 Natera, Inc. 1.5 % 16 Dexcom, Inc. 1.5 % 17 Penumbra, Inc. 1.3 % 18 TransDigm Group, Inc. 1.2 % 19 Brown & Brown, Inc. 1.2 % 20 Semtech Corp. 1.2 % Holdings are subject to change. Monthly Performance: Performance                                    NAV Market Price Discount Beginning of month value $6.19 $5.70 -7.9 % End of month value $5.70 $5.24 -8.1 % Performance for month -7.92 % -8.07 % Performance year-to-date -4.47 % -5.19 % Net Assets at Month-End ($millions): Total                            $348.3 Equities                        $347.0 Percent Invested          99.6 % Sector Breakdown* (% of equity portfolio): Information Technology                      28.8 % Industrials                                            17.4 % Health Care                                          16.1 % Financials                                            13.9 % Consumer Discretionary                      9.8 % Communication Services                    6.3 % Consumer Staples                                4.0 % Real Estate                                          2.1 % Materials                                              0.9 % Energy                                                  0.7 % Total Market Value                              100.0 % *Based on Standard & Poor's and MSCI Global Industry Classification Standard (GICS). New Holdings:Axon Enterprise, Inc.Camtek, Ltd.Datadog, Inc.RadNet, Inc.Sterling Infrastructure, Inc.Stride, Inc. Holdings Liquidated:Block, Inc.CECO Environmental Corp.Regal Rexnord Corp.Savers Value Village, Inc.Valvoline, Inc.Watts Water Technologies, 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 February 28, 2025 unless otherwise noted. Liberty All-Star® Growth Fund, Inc.1-800-241-1850www.all-starfunds.com [email protected] SOURCE Liberty All-Star Growth Fund, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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