UNITED STATES

OMB APPROVAL

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

OMB Number:  3235-0582

Expires:    March 31, 2006

Estimated average burden hours per response......14.4

Liberty All Star Equity Fund

(Exact name of registrant as specified in charter)

One Financial Center, Boston, Massachusetts

02111

(Address of principal executive offices)

(Zip code)

Vincent Pietropaolo, Esq.

Columbia Management Group, Inc.

One Financial Center Boston, MA 02111

(Name and address of agent for service)

Registrant’s telephone number, including area code:

1-617-772-3698

Date of fiscal year end:

12/31/04

Date of reporting period:

7/1/2003 - 6/30/2004

(a)

The name of the issuer of the portfolio security;

(b)

The exchange ticker symbol of the portfolio security;

(c)

The Council on Uniform Securities Identification Procedures (“CUSIP”) number for the portfolio security;

(d)

The shareholder meeting date;

(e)

A brief identification of the matter voted on;

(f)

Whether the matter was proposed by the issuer or by a security holder;

(g)

Whether the registrant cast its vote on the matter;

(h)

How the registrant cast its vote (e.g., for or against proposal, or abstain; for or withhold regarding election of directors);
and

(i)

Whether the registrant cast its vote for or against management.

Ticker:

A.

Security ID:

003924107

Meeting Date:

APR 29, 2004

Meeting Type:

Annual

Record Date:

MAR 15, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1

Elect Dong Kil Cho, Marlene Davidge, William Davis, Richard Drouin, Lise Lachapelle, Gary Lukassen, C. Edward Medland, John A. Tory, David Ward and John Weaver as Directors

For

For

Management

2

Appoint PricewaterhouseCoopers LLP as Auditors

For

For

Management

Ticker:

ACN

Security ID:

G1150G111

Meeting Date:

FEB 5, 2004

Meeting Type:

Annual

Record Date:

DEC 8, 2003

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1

Appoint Dennis F. Hightower, William L. Kimsey, Robert I. Lipp, and Wulf von Schimmelmann as Directors

For

For

Management

2

Approve KPMG LLP as Independent Auditors and Authorize Board to Fix Their Remuneration

For

For

Management

3

Transact Other Business (Non-Voting)

None

None

Management

Ticker:

AET

Security ID:

00817Y108

Meeting Date:

APR 30, 2004

Meeting Type:

Annual

Record Date:

FEB 27, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Betsy Z. Cohen

For

For

Management

1.2

Elect Director Barbara Hackman Franklin

For

For

Management

1.3

Elect Director Jeffrey E. Garten

For

For

Management

1.4

Elect Director Earl G. Graves

For

For

Management

1.5

Elect Director Gerald Greenwald

For

For

Management

1.6

Elect Director Ellen M. Hancock

For

For

Management

1.7

Elect Director Michael H. Jordan

For

For

Management

1.8

Elect Director Jack D. Kuehler

For

For

Management

1.9

Elect Director Edward J. Ludwig

For

For

Management

1.10

Elect Director Joseph P. Newhouse

For

For

Management

1.11

Elect Director Judith Rodin

For

For

Management

1.12

Elect Director John W. Rowe, M.D.

For

For

Management

1.13

Elect Director Ronald A. Williams

For

For

Management

1.14

Elect Director R. David Yost

For

For

Management

2

Ratify Auditors

For

For

Management

3

Provide for Cumulative Voting

Against

Against

Shareholder

4

Limit Executive Compensation

Against

Against

Shareholder

Ticker:

AFFX

Security ID:

00826T108

Meeting Date:

JUN 10, 2004

Meeting Type:

Annual

Record Date:

APR 16, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Stephen P.A. Fodor, Ph.D.

For

Withhold

Management

1.2

Elect Director Paul Berg, Ph.D.

For

For

Management

1.3

Elect Director John D. Diekman, Ph.D.

For

Withhold

Management

1.4

Elect Director Vernon R. Loucks, Jr.

For

For

Management

1.5

Elect Director Susan E. Siegel

For

Withhold

Management

1.6

Elect Director David B. Singer

For

Withhold

Management

1.7

Elect Director John A. Young

For

For

Management

2

Amend Omnibus Stock Plan

For

Against

Management

3

Ratify Auditors

For

For

Management

Ticker:

AFL

Security ID:

001055102

Meeting Date:

MAY 3, 2004

Meeting Type:

Annual

Record Date:

FEB 25, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Daniel P. Amos

For

For

Management

1.2

Elect Director John Shelby Amos II

For

For

Management

1.3

Elect Director Michael H. Armacost

For

For

Management

1.4

Elect Director Kriss Cloninger III

For

For

Management

1.5

Elect Director Joe Frank Harris

For

For

Management

1.6

Elect Director Elizabeth J. Hudson

For

For

Management

1.7

Elect Director Kenneth S. Janke, Sr.

For

For

Management

1.8

Elect Director Douglas W. Johnson

For

For

Management

1.9

Elect Director Robert B. Johnson

For

For

Management

1.10

Elect Director Charles B. Knapp

For

For

Management

1.11

Elect Director Hidefumi Matsui

For

For

Management

1.12

Elect Director Nobuhiro Mori

For

For

Management

1.13

Elect Director E. Stephen Purdom, M.D.

For

For

Management

1.14

Elect Director Barbara K. Rimer, Ph.D.

For

For

Management

1.15

Elect Director Marvin R. Schuster

For

For

Management

1.16

Elect Director Glenn Vaughn, Jr.

For

For

Management

1.17

Elect Director Robert L. Wright

For

For

Management

2

Approve Omnibus Stock Plan

For

For

Management

3

Ratify Auditors

For

For

Management

Ticker:

AL.

Security ID:

013716105

Meeting Date:

APR 22, 2004

Meeting Type:

Annual

Record Date:

MAR 3, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director R. Berger

For

Withhold

Management

1.2

Elect Director L.D. Desautels

For

For

Management

1.3

Elect Director T. Engen

For

For

Management

1.4

Elect Director L.Y. Fortier

For

For

Management

1.5

Elect Director J.P. Jacamon

For

For

Management

1.6

Elect Director W.R. Loomis

For

For

Management

1.7

Elect Director Y. Mansion

For

For

Management

1.8

Elect Director C. Morin-Postel

For

For

Management

1.9

Elect Director J.E. Newall

For

For

Management

1.10

Elect Director G. Saint-Pierre

For

For

Management

1.11

Elect Director G. Schulmeyer

For

For

Management

1.12

Elect Director P.M. Tellier

For

For

Management

1.13

Elect Director M.K. Wong

For

For

Management

2

Approve Auditors and Authorize Board to Fix Remuneration of Auditors

For

For

Management

Ticker:

ACL

Security ID:

H01301102

Meeting Date:

APR 27, 2004

Meeting Type:

Annual

Record Date:

MAR 18, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1

APPROVAL OF THE 2003 ANNUAL REPORT AND ACCOUNTS OF ALCON, INC. AND THE 2003 CONSOLIDATED FINANCIAL STATEMENTS OF ALCON, INC. AND SUBSIDIARIES

For

Did Not Vote

Management

2

APPROPRIATION OF AVAILABLE EARNINGS AND PROPOSED DIVIDEND TO SHAREHOLDERS FOR THE FINANCIAL YEAR 2003

For

Did Not Vote

Management

3

DISCHARGE OF THE MEMBERS OF THE BOARD OF DIRECTORS

For

Did Not Vote

Management

4

ELECTION TO THE BOARD OF DIRECTORS OF: WERNER J. BAUER

For

Did Not Vote

Management

5

ELECTION TO THE BOARD OF DIRECTORS OF: FRANCISCO CASTANER

For

Did Not Vote

Management

6

ELECTION TO THE BOARD OF DIRECTORS OF: LODEWIJK J.R. DE VINK

For

Did Not Vote

Management

7

ELECTION OF KPMG KLYNVELD PEAT MARWICK GOERDELER SA, ZURICH, AS GROUP AND PARENT COMPANY AUDITORS

For

Did Not Vote

Management

8

ELECTION OF ZENSOR REVISIONS AG, ZUG, AS SPECIAL AUDITORS

For

Did Not Vote

Management

Ticker:

ALL

Security ID:

020002101

Meeting Date:

MAY 18, 2004

Meeting Type:

Annual

Record Date:

MAR 19, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director F. Duane Ackerman

For

For

Management

1.2

Elect Director James G. Andress

For

For

Management

1.3

Elect Director Edward A. Brennan

For

For

Management

1.4

Elect Director W. James Farrell

For

For

Management

1.5

Elect Director Jack M. Greenberg

For

For

Management

1.6

Elect Director Ronald T. LeMay

For

For

Management

1.7

Elect Director Edward M. Liddy

For

For

Management

1.8

Elect Director J. Christopher Reyes

For

For

Management

1.9

Elect Director H. John Riley, Jr.

For

For

Management

1.10

Elect Director Joshua I. Smith

For

For

Management

1.11

Elect Director Judith A. Sprieser

For

For

Management

1.12

Elect Director Mary Alice Taylor

For

For

Management

2

Ratify Auditors

For

For

Management

3

Amend Executive Incentive Bonus Plan

For

For

Management

4

Amend Executive Incentive Bonus Plan

For

For

Management

5

Provide for Cumulative Voting

Against

Against

Shareholder

Ticker:

MO

Security ID:

02209S103

Meeting Date:

APR 29, 2004

Meeting Type:

Annual

Record Date:

MAR 8, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Elizabeth E. Bailey

For

For

Management

1.2

Elect Director Mathis Cabiallavetta

For

For

Management

1.3

Elect Director Louis C. Camilleri

For

For

Management

1.4

Elect Director J. Dudley Fishburn

For

For

Management

1.5

Elect Director Robert E. R. Huntley

For

For

Management

1.6

Elect Director Thomas W. Jones

For

For

Management

1.7

Elect Director Lucio A. Noto

For

For

Management

1.8

Elect Director John S. Reed

For

For

Management

1.9

Elect Director Carlos Slim Helu

For

For

Management

1.10

Elect Director Stephen M. Wolf

For

For

Management

2

Ratify Auditors

For

For

Management

3

Report on Product Warnings for Pregnant Women

Against

Against

Shareholder

4

Report on Health Risks Associated with Cigarette Filters

Against

Against

Shareholder

5

Political Contributions/Activities

Against

Against

Shareholder

6

Cease Use of Light and Ultra Light in Cigarette Marketing

Against

Against

Shareholder

7

Place Canadian Style Warnings on Cigarette Packaging

Against

Against

Shareholder

8

Separate Chairman and CEO Positions

Against

For

Shareholder

Ticker:

AMZN

Security ID:

023135106

Meeting Date:

MAY 25, 2004

Meeting Type:

Annual

Record Date:

MAR 29, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Jeffrey P. Bezos

For

For

Management

1.2

Elect Director Tom A. Alberg

For

For

Management

1.3

Elect Director L. John Doerr

For

For

Management

1.4

Elect Director William B. Gordon

For

For

Management

1.5

Elect Director Myrtle S. Potter

For

For

Management

1.6

Elect Director Thomas O. Ryder

For

For

Management

1.7

Elect Director Patricia Q. Stonesifer

For

For

Management

2

Ratify Auditors

For

For

Management

3

Limit Executive Compensation

Against

Against

Shareholder

Ticker:

AIG

Security ID:

026874107

Meeting Date:

MAY 19, 2004

Meeting Type:

Annual

Record Date:

MAR 26, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director M. Bernard Aidinoff

For

For

Management

1.2

Elect Director Pei-Yuan Chia

For

For

Management

1.3

Elect Director Marshall A. Cohen

For

For

Management

1.4

Elect Director Willaim S. Cohen

For

For

Management

1.5

Elect Director Martin S. Feldstein

For

For

Management

1.6

Elect Director Ellen V. Futter

For

For

Management

1.7

Elect Director Maurice R. Greenberg

For

For

Management

1.8

Elect Director Carla A. Hills

For

For

Management

1.9

Elect Director Frank J. Hoenemeyer

For

For

Management

1.10

Elect Director Richard C. Holbrooke

For

For

Management

1.11

Elect Director Donald P. Kanak

For

For

Management

1.12

Elect Director Howard I. Smith

For

For

Management

1.13

Elect Director Martin J. Sullivan

For

For

Management

1.14

Elect Director Edmund S.W. Tse

For

For

Management

1.15

Elect Director Frank G. Zarb

For

For

Management

2

Approve Executive Incentive Bonus Plan

For

For

Management

3

Approve Non-Employee Director Stock Option Plan

For

For

Management

4

Ratify Auditors

For

For

Management

5

Report on Political Contributions/Activities

Against

Against

Shareholder

6

Divest from Tobacco Equities

Against

Against

Shareholder

7

Link Executive Compensation to Predatory Lending

Against

Against

Shareholder

Ticker:

APCC

Security ID:

029066107

Meeting Date:

JUN 10, 2004

Meeting Type:

Annual

Record Date:

APR 14, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1

Fix Number of Directors

For

For

Management

2.1

Elect Director Rodger B. Dowdell, Jr.

For

Withhold

Management

2.2

Elect Director Emanuel E. Landsman

For

Withhold

Management

2.3

Elect Director Neil E. Rasmussen

For

Withhold

Management

2.4

Elect Director Ervin F. Lyon

For

Withhold

Management

2.5

Elect Director James D. Gerson

For

For

Management

2.6

Elect Director John G. Kassakian

For

For

Management

2.7

Elect Director John F. Keane, Sr.

For

For

Management

2.8

Elect Director Ellen B. Richstone

For

For

Management

3

Approve Omnibus Stock Plan

For

Against

Management

4

Ratify Auditors

For

For

Management

Ticker:

ABC

Security ID:

03073E105

Meeting Date:

MAR 5, 2004

Meeting Type:

Annual

Record Date:

JAN 12, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Edward E. Hagenlocker

For

For

Management

1.2

Elect Director Kurt J. Hilzinger

For

For

Management

Ticker:

AMGN

Security ID:

031162100

Meeting Date:

MAY 13, 2004

Meeting Type:

Annual

Record Date:

MAR 19, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Frank J. Biondi, Jr.

For

For

Management

1.2

Elect Director Jerry D. Choate

For

For

Management

1.3

Elect Director Frank C. Herringer

For

For

Management

1.4

Elect Director Gilbert S. Omenn

For

For

Management

2

Ratify Auditors

For

For

Management

3

Prepare Glass Ceiling Report

Against

Against

Shareholder

4

Expense Stock Options

Against

For

Shareholder

Ticker:

ADI

Security ID:

032654105

Meeting Date:

MAR 9, 2004

Meeting Type:

Annual

Record Date:

JAN 16, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Jerald G. Fishman

For

For

Management

1.2

Elect Director F. Grant Saviers

For

For

Management

2

Increase Authorized Common Stock

For

For

Management

3

Ratify Auditors

For

For

Management

Ticker:

AOC

Security ID:

037389103

Meeting Date:

MAY 21, 2004

Meeting Type:

Annual

Record Date:

MAR 24, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Patrick G. Ryan

For

For

Management

1.2

Elect Director Edgar D. Jannotta

For

Withhold

Management

1.3

Elect Director Jan Kalff

For

For

Management

1.4

Elect Director Lester B. Knight

For

For

Management

1.5

Elect Director J. Michael Losh

For

For

Management

1.6

Elect Director R. Eden Martin

For

For

Management

1.7

Elect Director Andrew J. McKenna

For

For

Management

1.8

Elect Director Robert S. Morrison

For

For

Management

1.9

Elect Director Richard C. Notebaert

For

For

Management

1.10

Elect Director Michael D. O’Halleran

For

For

Management

1.11

Elect Director John W. Rogers, Jr.

For

For

Management

1.12

Elect Director Gloria Santona

For

For

Management

1.13

Elect Director Carolyn Y. Woo

For

For

Management

2

Ratify Auditors

For

For

Management

Ticker:

AMAT

Security ID:

038222105

Meeting Date:

MAR 24, 2004

Meeting Type:

Annual

Record Date:

JAN 30, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Michael H. Armacost

For

For

Management

1.2

Elect Director Deborah A. Coleman

For

For

Management

1.3

Elect Director Herbert M. Dwight, Jr.

For

For

Management

1.4

Elect Director Philip V. Gerdine

For

For

Management

1.5

Elect Director Paul R. Low

For

For

Management

1.6

Elect Director Dan Maydan

For

For

Management

1.7

Elect Director Steven L. Miller

For

For

Management

1.8

Elect Director James C. Morgan

For

For

Management

1.9

Elect Director Gerhard H. Parker

For

For

Management

1.10

Elect Director Michael R. Splinter

For

For

Management

2

Amend Omnibus Stock Plan

For

For

Management

Ticker:

ADM

Security ID:

039483102

Meeting Date:

NOV 6, 2003

Meeting Type:

Annual

Record Date:

SEP 12, 2003

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director G. Allen Andreas

For

For

Management

1.2

Elect Director Mollie Hale Carter

For

For

Management

1.3

Elect Director Roger S. Joslin

For

For

Management

1.4

Elect Director D.J. Mimran

For

For

Management

1.5

Elect Director Patrick J. Moore

For

For

Management

1.6

Elect Director M. Brian Mulroney

For

For

Management

1.7

Elect Director J. K. Vanier

For

For

Management

1.8

Elect Director O. G. Webb

For

For

Management

1.9

Elect Director Kelvin R. Westbrook

For

For

Management

Ticker:

AWE

Security ID:

00209A106

Meeting Date:

MAY 19, 2004

Meeting Type:

Annual

Record Date:

MAR 22, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1

Approve Merger Agreement

For

For

Management

2.1

Elect Director Nobuharu Ono

For

For

Management

2.2

Elect Director Carolyn M. Ticknor

For

For

Management

2.3

Elect Director John D. Zeglis

For

For

Management

3

Ratify Auditors

For

For

Management

4

Limit Executive Compensation

Against

Against

Shareholder

5

Prohibit Awards to Executives

Against

Against

Shareholder

6

Require Affirmative Vote of a Majority of the Shares to Elect Directors

Against

Against

Shareholder

Ticker:

AVT

Security ID:

053807103

Meeting Date:

NOV 6, 2003

Meeting Type:

Annual

Record Date:

SEP 8, 2003

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director Eleanor Baum

For

For

Management

1.2

Elect Director J. Veronica Biggins

For

For

Management

1.3

Elect Director Lawrence W. Clarkson

For

For

Management

1.4

Elect Director Ehud Houminer

For

For

Management

1.5

Elect Director James A. Lawrence

For

For

Management

1.6

Elect Director Ray M. Robinson

For

For

Management

1.7

Elect Director Frederic Salerno

For

For

Management

1.8

Elect Director Gary L. Tooker

For

For

Management

1.9

Elect Director Roy Vallee

For

For

Management

2

Approve Omnibus Stock Plan

For

For

Management

3

Amend Employee Stock Purchase Plan

For

For

Management

4

Ratify Auditors

For

For

Management

Ticker:

BAC

Security ID:

060505104

Meeting Date:

MAY 26, 2004

Meeting Type:

Annual

Record Date:

APR 7, 2004

#

Proposal

Mgt Rec

Vote Cast

Sponsor

1.1

Elect Director William Barnet, III

For

For

Management

1.2

Elect Director Charles W. Coker

For

For

Management

1.3

Elect Director John T. Collins

For

For

Management

1.4

Elect Director Gary L. Countryman

For

For

Management

1.5

Elect Director Paul Fulton

For

For

Management

1.6

Elect Director Charles K. Gifford

For

For

Management

1.7

Elect Director Donald E. Guinn

For

For

Management

1.8

Elect Director James H. Hance, Jr.

For

For

Management

1.9

Elect Director Kenneth D. Lewis

For

For

Management

1.10

Elect Director Walter E. Massey

For

For

Management

1.11

Elect Director Thomas J. May

For

For

Management

1.12

Elect Director C. Steven McMillan

For

For

Management

1.13

Elect Director Eugene M. McQuade

For

For

Management

1.14

Elect Director Patricia E. Mitchell

For

For

Management

1.15

Elect Director Edward L. Romero

For

For

Management

1.16

Elect Director Thomas M. Ryan