Access person buys Liberty All Star Equity Fund (USA) shares

Rhea-AI Filing Summary

LIBERTY ALL STAR EQUITY FUND access person Robert Milas reported an open-market purchase of fund shares. He bought 1,700 Shares of Beneficial Interest at an average price of $5.8199 per share. Following this transaction, he directly owns 5,759.256 shares of the fund.

Insider Trade Summary

Net Buyer: 1,700 shares ($9,894)

Net Buy 1 txn

Insider MILAS ROBERT

Role null

Bought 1,700 shs ($10K)

Type	Security	Shares	Price	Value
Purchase	Shares of Beneficial Interest	1,700	$5.8199	$10K

Holdings After Transaction: Shares of Beneficial Interest — 5,759.256 shares (Direct, null)

Footnotes (1)

Key Figures

Shares purchased: 1,700 shares Purchase price: $5.8199 per share Post-transaction holdings: 5,759.256 shares

3 metrics

Shares purchased 1,700 shares Open-market purchase of Shares of Beneficial Interest

Purchase price $5.8199 per share Average price for the 1,700-share buy

Post-transaction holdings 5,759.256 shares Direct ownership after the transaction

Key Terms

Shares of Beneficial Interest, open-market purchase, Form 4, Access Person of the Fund

4 terms

Shares of Beneficial Interest financial

"security_title: "Shares of Beneficial Interest""

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

Form 4 regulatory

"INSIDER FILING DATA (Form 4)"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Access Person of the Fund financial

""other": "Access Person of the Fund""

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MILAS ROBERT

(Last) (First) (Middle)

1290 BROADWAY

SUITE 1000

(Street)

DENVER COLORADO 80203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LIBERTY ALL STAR EQUITY FUND [ USA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Access Person of the Fund

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Shares of Beneficial Interest	05/08/2026		P		1,700	A	$5.8199	5,759.256	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/Robert Milas	05/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did LIBERTY ALL STAR EQUITY FUND (USA) report?

LIBERTY ALL STAR EQUITY FUND reported that access person Robert Milas completed an open-market purchase of fund shares. He acquired 1,700 Shares of Beneficial Interest, increasing his direct holdings to 5,759.256 shares after the transaction.

How many LIBERTY ALL STAR EQUITY FUND (USA) shares did Robert Milas buy?

Robert Milas bought 1,700 Shares of Beneficial Interest in LIBERTY ALL STAR EQUITY FUND. This open-market purchase brought his total direct ownership to 5,759.256 shares following the reported transaction date.

What price did Robert Milas pay per LIBERTY ALL STAR EQUITY FUND (USA) share?

Robert Milas paid an average price of $5.8199 per share for LIBERTY ALL STAR EQUITY FUND. The transaction covered 1,700 Shares of Beneficial Interest, recorded as an open-market purchase on the Form 4 filing.

What are Robert Milas’s holdings in LIBERTY ALL STAR EQUITY FUND (USA) after the trade?

After the reported open-market purchase, Robert Milas directly owns 5,759.256 Shares of Beneficial Interest in LIBERTY ALL STAR EQUITY FUND. This figure reflects his position immediately following the completed transaction.

What does the Form 4 for LIBERTY ALL STAR EQUITY FUND (USA) indicate about transaction type?

The Form 4 indicates an open-market purchase, coded as “P,” in LIBERTY ALL STAR EQUITY FUND shares by access person Robert Milas. It is classified as a non-derivative transaction involving Shares of Beneficial Interest.