Liberty All-Star Growth Fund Appoints New Investment Manager
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Mar 27 2026
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Should l Buy ASG?
Source: Newsfilter
- Manager Change: Liberty All-Star Growth Fund has appointed Congress Asset Management Company as the new investment manager for its small-cap growth portfolio effective April 1, 2026, replacing Weatherbie Capital to enhance profitability and growth potential.
- Leadership of Small-Cap Team: The small-cap investment team at Congress, led by CFA Gregg O'Keefe, focuses on identifying growth companies that demonstrate higher profitability levels within their industries, thereby strengthening the fund's competitive position in the market.
- Portfolio Management Structure: Congress will manage the small-cap growth segment, while the mid-cap growth portion remains under Congress's management, and Westfield Capital Management will continue overseeing the large-cap growth segment, ensuring diversification and specialization within the portfolio.
- Fund Trading Mechanism: As a closed-end fund, it does not continuously issue shares, requiring investors to place orders through intermediaries or brokers, with share prices reflecting market value, indicating investor confidence and market dynamics.
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Analyst Views on ASG
Wall Street analysts forecast ASG stock price to rise
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About ASG
Liberty All-Star Growth Fund, Inc. (the Fund) is a diversified, closed-end management investment company. The Fund's investment objective is to seek long-term capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objective through investing at least 65% of its net assets in a diversified portfolio of equity securities of companies of any market capitalization. The Fund may invest up to 35% of the value of its total assets in United States (U.S.) Government Securities, repurchase agreements with respect to U.S. Government Securities, and, to an extent not greater than 10% of the market value of the Fund's total assets, money market mutual funds that invest primarily in U.S. Government Securities. The Fund's investment advisor is ALPS Advisors, Inc. The Fund's investment managers include Congress Asset Management Company, LLP; Sustainable Growth Advisers, LP, and Weatherbie Capital LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Liberty All-Star Growth Fund Appoints New Investment Manager
- Manager Change: Liberty All-Star Growth Fund has appointed Congress Asset Management Company as the new investment manager for its small-cap growth portfolio effective April 1, 2026, replacing Weatherbie Capital to enhance profitability and growth potential.
- Leadership of Small-Cap Team: The small-cap investment team at Congress, led by CFA Gregg O'Keefe, focuses on identifying growth companies that demonstrate higher profitability levels within their industries, thereby strengthening the fund's competitive position in the market.
- Portfolio Management Structure: Congress will manage the small-cap growth segment, while the mid-cap growth portion remains under Congress's management, and Westfield Capital Management will continue overseeing the large-cap growth segment, ensuring diversification and specialization within the portfolio.
- Fund Trading Mechanism: As a closed-end fund, it does not continuously issue shares, requiring investors to place orders through intermediaries or brokers, with share prices reflecting market value, indicating investor confidence and market dynamics.
See More
Liberty All-Star Growth Fund Expands Portfolio with New Investments
- New Portfolio Additions: In February, Liberty All-Star Growth Fund initiated positions in Caterpillar, FTAI Aviation, Lowe's, Palantir, Qnity Electronics, Silicon Motion, and TKO Group, indicating a strategic focus on diversification to enhance overall investment returns.
- Exit Strategy: The fund exited positions in Accelerant, Brown & Brown, Dynatrace, Pinterest, and UnitedHealth Group during the same month, demonstrating its flexibility in adjusting the portfolio amidst market fluctuations to optimize performance.
- Top Holdings: As of the end of February, the fund's top five holdings included Nvidia, Apple, Alphabet, Microsoft, and FirstService, reflecting sustained confidence in tech stocks, which may yield higher growth potential in future markets.
- Market Performance Assessment: Despite the portfolio adjustments, analysts suggest it is currently difficult to make a case for buying this underperforming fund, indicating a cautious market sentiment regarding its future performance.
See More
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- Semirara Coal and Power: Semirara Mining and Power generates approximately ₱41.39 billion from coal and ₱24.11 billion from power, and despite risks from external borrowing, insider stock purchases indicate confidence in future growth prospects.
- ESR-REIT Recovery: ESR-REIT reported sales of S$446 million and a net income of S$32 million for 2025, rebounding from significant losses, with projected annual growth exceeding 32%, although it still relies on external financing.
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Liberty All-Star Growth Fund January 2026 Monthly Update
- Portfolio Overview: As of January 2026, the Liberty All-Star Growth Fund reports a total net asset value of $362.8 million, with a 100.5% equity investment ratio, indicating a comprehensive investment strategy across various market segments.
- Top Holdings Analysis: The top 20 holdings constitute 37.7% of the fund's equity portfolio, with NVIDIA, Apple, and Alphabet representing 4.7%, 2.9%, and 2.8% respectively, reflecting a strong concentration in technology stocks.
- Monthly Performance Review: The fund achieved a total return of 0.71% in January, while the market price increased by 1.32%, demonstrating relative stability amidst market fluctuations, despite facing a 9.0% discount.
- New and Liquidated Holdings: New holdings include Arista Networks and Expedia, while AMD and Bank of America were liquidated, indicating the fund's proactive adjustments to its investment portfolio in response to market dynamics.
See More
Liberty All-Star Growth Fund January 2026 Monthly Update
- Investment Strategy Overview: The Liberty All-Star Growth Fund employs an all-cap growth investment style, combining three distinct investment managers focused on small, mid, and large-cap stocks, ensuring portfolio diversity and risk management.
- Monthly Performance Data: As of the end of January, the fund's net asset value (NAV) stood at $5.77 with a market price of $5.25, reflecting a 9.0% discount, while the monthly performance was 0.71%, indicating the impact of market fluctuations on the fund.
- Portfolio Structure Analysis: The top 20 holdings account for 37.7% of the total equity portfolio, with NVIDIA, Apple, and Alphabet being the largest investments, highlighting a significant concentration in the technology sector that may influence future growth potential.
- New and Liquidated Holdings: New holdings include Arista Networks and Expedia, while positions in AMD and Bank of America were liquidated, indicating the fund's dynamic adjustment of its portfolio to adapt to market changes.
See More
Liberty All-Star Growth Fund January 2026 Monthly Update
- Investment Strategy Overview: The Liberty All-Star Growth Fund employs an all-cap growth investment style, combining three investment managers with distinct capitalization focuses—small, mid, and large-cap—to ensure portfolio diversity and risk management.
- Monthly Performance Data: As of the end of January, the fund's net asset value (NAV) stood at $5.77, with a market price of $5.25, reflecting a 9.0% discount; however, the monthly performance rebounded by 0.71%, indicating the impact of market fluctuations.
- Portfolio Changes: New holdings include companies like Arista Networks and Expedia, while positions in AMD and Bank of America were liquidated, demonstrating the fund's strategy of dynamically adjusting its portfolio to adapt to market changes.
- Sector Distribution Analysis: The fund's portfolio shows a significant concentration in high-growth sectors, with Information Technology and Industrials comprising 26.7% and 25.4% respectively, indicating a strategic focus on capturing future growth opportunities in these industries.
See More
Liberty All-Star Growth Fund Appoints New Investment Manager
- Manager Change: Liberty All-Star Growth Fund has appointed Congress Asset Management Company as the new investment manager for its small-cap growth portfolio effective April 1, 2026, replacing Weatherbie Capital to enhance profitability and growth potential.
- Leadership of Small-Cap Team: The small-cap investment team at Congress, led by CFA Gregg O'Keefe, focuses on identifying growth companies that demonstrate higher profitability levels within their industries, thereby strengthening the fund's competitive position in the market.
- Portfolio Management Structure: Congress will manage the small-cap growth segment, while the mid-cap growth portion remains under Congress's management, and Westfield Capital Management will continue overseeing the large-cap growth segment, ensuring diversification and specialization within the portfolio.
- Fund Trading Mechanism: As a closed-end fund, it does not continuously issue shares, requiring investors to place orders through intermediaries or brokers, with share prices reflecting market value, indicating investor confidence and market dynamics.
See More
Liberty All-Star Growth Fund Expands Portfolio with New Investments
- New Portfolio Additions: In February, Liberty All-Star Growth Fund initiated positions in Caterpillar, FTAI Aviation, Lowe's, Palantir, Qnity Electronics, Silicon Motion, and TKO Group, indicating a strategic focus on diversification to enhance overall investment returns.
- Exit Strategy: The fund exited positions in Accelerant, Brown & Brown, Dynatrace, Pinterest, and UnitedHealth Group during the same month, demonstrating its flexibility in adjusting the portfolio amidst market fluctuations to optimize performance.
- Top Holdings: As of the end of February, the fund's top five holdings included Nvidia, Apple, Alphabet, Microsoft, and FirstService, reflecting sustained confidence in tech stocks, which may yield higher growth potential in future markets.
- Market Performance Assessment: Despite the portfolio adjustments, analysts suggest it is currently difficult to make a case for buying this underperforming fund, indicating a cautious market sentiment regarding its future performance.
See More
Investment Opportunities in Asian Small-Cap Stocks
- Small-Cap Appeal: Amid modest gains in Chinese stocks and economic shifts in Japan, small-cap companies are gaining attention, particularly those aligning with current economic conditions, indicating rising investor interest in this segment.
- Cogstate Performance Boost: Cogstate anticipates a revenue of A$26.9 million for the first half of 2026, reflecting a 12% increase from prior projections, showcasing strong performance in clinical trials and insider confidence.
- Semirara Coal and Power: Semirara Mining and Power generates approximately ₱41.39 billion from coal and ₱24.11 billion from power, and despite risks from external borrowing, insider stock purchases indicate confidence in future growth prospects.
- ESR-REIT Recovery: ESR-REIT reported sales of S$446 million and a net income of S$32 million for 2025, rebounding from significant losses, with projected annual growth exceeding 32%, although it still relies on external financing.
See More
Liberty All-Star Growth Fund January 2026 Monthly Update
- Portfolio Overview: As of January 2026, the Liberty All-Star Growth Fund reports a total net asset value of $362.8 million, with a 100.5% equity investment ratio, indicating a comprehensive investment strategy across various market segments.
- Top Holdings Analysis: The top 20 holdings constitute 37.7% of the fund's equity portfolio, with NVIDIA, Apple, and Alphabet representing 4.7%, 2.9%, and 2.8% respectively, reflecting a strong concentration in technology stocks.
- Monthly Performance Review: The fund achieved a total return of 0.71% in January, while the market price increased by 1.32%, demonstrating relative stability amidst market fluctuations, despite facing a 9.0% discount.
- New and Liquidated Holdings: New holdings include Arista Networks and Expedia, while AMD and Bank of America were liquidated, indicating the fund's proactive adjustments to its investment portfolio in response to market dynamics.
See More
Liberty All-Star Growth Fund January 2026 Monthly Update
- Investment Strategy Overview: The Liberty All-Star Growth Fund employs an all-cap growth investment style, combining three distinct investment managers focused on small, mid, and large-cap stocks, ensuring portfolio diversity and risk management.
- Monthly Performance Data: As of the end of January, the fund's net asset value (NAV) stood at $5.77 with a market price of $5.25, reflecting a 9.0% discount, while the monthly performance was 0.71%, indicating the impact of market fluctuations on the fund.
- Portfolio Structure Analysis: The top 20 holdings account for 37.7% of the total equity portfolio, with NVIDIA, Apple, and Alphabet being the largest investments, highlighting a significant concentration in the technology sector that may influence future growth potential.
- New and Liquidated Holdings: New holdings include Arista Networks and Expedia, while positions in AMD and Bank of America were liquidated, indicating the fund's dynamic adjustment of its portfolio to adapt to market changes.
See More
Liberty All-Star Growth Fund January 2026 Monthly Update
- Investment Strategy Overview: The Liberty All-Star Growth Fund employs an all-cap growth investment style, combining three investment managers with distinct capitalization focuses—small, mid, and large-cap—to ensure portfolio diversity and risk management.
- Monthly Performance Data: As of the end of January, the fund's net asset value (NAV) stood at $5.77, with a market price of $5.25, reflecting a 9.0% discount; however, the monthly performance rebounded by 0.71%, indicating the impact of market fluctuations.
- Portfolio Changes: New holdings include companies like Arista Networks and Expedia, while positions in AMD and Bank of America were liquidated, demonstrating the fund's strategy of dynamically adjusting its portfolio to adapt to market changes.
- Sector Distribution Analysis: The fund's portfolio shows a significant concentration in high-growth sectors, with Information Technology and Industrials comprising 26.7% and 25.4% respectively, indicating a strategic focus on capturing future growth opportunities in these industries.
See More
