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what it is
This is a closed-end fund that spreads money across five stock managers and pays out about 10% of NAV each year.
how it gets paid
This is not an operating company: it does not report “revenue” the way a manufacturer does. The fund targets distributions of about 10% of NAV per year (2.5% each quarter on the policy described on the fund site), with sleeves each near 20% of portfolio assets.
what just happened
The key takeaway is the absence of current quarterly revenue and EPS data, so your read-through leans on valuation, yield, and the $0.05 forward EPS estimate instead.
At a glance
149.5x trailing p/e — you're paying up for this one
12.1% dividend yield — cash in your pocket every quarter
$0.05 fy2029 eps est
1.15 beta
~$2B market cap
xvary composite: 53/100 — below average
What they do
This is a closed-end fund that spreads money across five stock managers and pays out about 10% of NAV each year.
The edge is structure, not invention. USA splits assets equally across five managers, so you get value and growth in one wrapper instead of making that call yourself. The hook is the payout policy: roughly 10% of NAV each year, which is why a 12.1% yield keeps your attention even when the stock trades at 149.5x trailing earnings.
How they make money
CEF / NAV economics
not operating revenue — see distribution policy (~10% of NAV / year)
Fiduciary Management sleeve
20% of assets
Pzena Investment Management sleeve
20% of assets
Aristotle Capital Management sleeve
20% of assets
Sustainable Growth Advisers sleeve
20% of assets
TCW Investment Management sleeve
20% of assets
The products that matter
multi-manager equity portfolio
Equity Fund Portfolio
~$2B market cap · listed fund structure
this is the whole vehicle. you are buying a large-cap core closed-end fund trading near the market price shown above; economics come from NAV, discount/premium, and distributions—not quarterly sales.
core structure
cash distribution stream
Managed Distribution
12.1% yield · headline feature
the 12.1% yield is the hook. it matters because three-year total return still landed at $12,980 on a $10,000 start versus $14,540 for the index.
income case
market-priced upside case
Target Repricing
$8 midpoint · $9 high target
the published 3–5 year midpoint is $8 versus a current price near $6. that is +25% upside on paper, with the high target implying +50%.
valuation watch
Key numbers
12.1%
dividend yield
That is the whole hook here. Plain English: you are being paid real cash to wait, and that payout is why the stock gets attention.
149.5x
trailing p/e
P/E ratio → price divided by earnings → so what: you are paying a very high multiple for a fund whose appeal is income, not explosive profit growth.
$0.05
fy2029 eps est
Earnings estimate → projected profit per share → so what: the earnings base is tiny, which makes the stock's income story more important than its EPS story.
$8
18-month target
Target price → a reference value for the next 18 months → so what: compared with $5.98, the upside case is about 33.8% before dividends.
Financial health
n/a
strength
- balance sheet grade n/a — not on this snapshot
- risk rank n/a
- price stability n/a
health data not available.
Total return vs. market
You invested $10,000 in USA 3 years ago → it's now worth $12,980.
The index would have given you $14,540.
source: institutional data · total return
What just happened
missed estimates
The key takeaway is the absence of current quarterly revenue and EPS data, so your read-through leans on valuation, yield, and the $0.05 forward EPS estimate instead.
Quarterly EPS history was not provided, and EDGAR fields for latest-quarter revenue, EPS, and gross margin were blank in the supplied data. Quiet part out loud: you are not underwriting an operating earnings beat here. You are underwriting portfolio performance and distribution support.
$0.05
forward eps
149.5x
trailing p/e
12.1%
dividend yield
the number that mattered
The headline yield matters because the distribution policy is anchored to NAV (about 10% per year in four 2.5% steps), not to operating revenue like a normal company.
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liberty all-star equity fund is a large-cap stock fund with a high payout.
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usa owns a diversified portfolio of u.s. stocks and pays out roughly 10% of net asset value (nav) annually under a managed distribution policy.that immediately creates a structural dynamic in that the fund must generate strong equity returns over time to avoid slowly eroding nav. this is not done by harvesting dividend income, but rather by paying out a high percentage of its asset base every year. the distribution therefore rises and falls with market conditions, as equity values and market returns fluctuate.
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recent returns have been driven by mega-cap exposure.the portfolio is exposed to large technology and communication services companies, alongside financials and healthcare.
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that positioning helped during the narrow, mega-cap-led market environment of 2025.
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however, because usa blends growth and value managers, it is not a pure momentum vehicle.
P0 (structure): all-starfunds.com — USA fund page (distribution policy). 52-week market price range: third-party quote screens (e.g. Yahoo Finance) — verify before trading.
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What could go wrong
the top risk is the yield story breaking. USA is an income vehicle first. If the payout loses credibility, the whole reason many people own it gets questioned fast.
med
distribution reset risk
A 12.1% yield is the hook. If the payout is reduced, the income case weakens immediately and the shares lose their main selling point.
impact: pressure on sentiment and income-focused holders
med
market sensitivity
Beta: 1.15. In human-speak, USA tends to move a bit more than the market. This is an equity fund with income, not a bunker stock.
impact: broad market selloffs still hit you
med
chronic underperformance
The last three years turned $10,000 into $12,980 here versus $14,540 in the index. Same period. Same starting point. If that gap persists, the high yield stops compensating for the lag.
impact: you collect income while falling behind anyway
med
thin valuation context
This snapshot gives you a 149.5x trailing P/E, n/a revenue, and limited operating-style health data. That is enough to know the usual stock template does not fit, but not enough to underwrite the portfolio the way you would want.
impact: you are making a portfolio bet with incomplete portfolio detail
The combined picture is simple: you are taking equity-market risk, relying on a 12.1% payout, and accepting that the fund has lagged the index by $1,560 over three years on a $10,000 start.
source: institutional data · regulatory filings · risk analysis
Pay attention to
metric
the 12.1% yield
That is the whole attraction for many holders. If the income case gets weaker, the stock needs a different reason to own it.
trend
institutional flow
Net buying lasted three straight quarters and reached 96 buyers versus 79 sellers in 4q2025. You want that direction to hold.
risk
relative performance
$12,980 here versus $14,540 in the index is the blunt test. If USA keeps trailing, the income premium is not enough.
calendar
the next shareholder update
This snapshot is thin on portfolio-level detail. The next formal update matters more here than an operating-company earnings beat would.
Analyst rankings
xvary composite
53 / 100
below average. in human-speak, the snapshot data says this is more income placeholder than standout opportunity.
risk lens
1.15 beta
slightly more volatile than the market. you are not hiding from drawdowns here.
upside lens
$8 midpoint
about 25% above the current price near $6. enough to matter, not enough to excuse permanent lag.
source: institutional data
Institutional activity
institutions have been net buying for 3 consecutive quarters — 96 buyers vs. 79 sellers in 4q2025. total institutional holdings: 51.2M shares. net buying for 3 quarters.
source: institutional data
Price targets
3-5 year target range
$6
$9
$6
current price
$8
target midpoint · +25% from current · 3-5yr high: $9 (+50% · 11% ann'l return)
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