-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 AEz2SJ1RaiTXCJWmkav0XUZtKHkW47zrL7C56ZTrrMfH/6Rr5QUrKMeLPd2epcak
 5740Ng7/kRhGmYaLDlCM1g==

<SEC-DOCUMENT>0001144204-08-055851.txt : 20081002
<SEC-HEADER>0001144204-08-055851.hdr.sgml : 20081002
<ACCEPTANCE-DATETIME>20081002171058
ACCESSION NUMBER:		0001144204-08-055851
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20080930
FILED AS OF DATE:		20081002
DATE AS OF CHANGE:		20081002

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CORNERSTONE PROGRESSIVE RETURN FUND
		CENTRAL INDEX KEY:			0001399186
		IRS NUMBER:				208998485
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		C/O BEAR STEARNS FUND MANAGEMENT
		STREET 2:		383 MADISON AVENUE, 23RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10179
		BUSINESS PHONE:		212-272-3550

	MAIL ADDRESS:	
		STREET 1:		C/O BEAR STEARNS FUND MANAGEMENT
		STREET 2:		383 MADISON AVENUE, 23RD FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10179

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			BRADSHAW RALPH W
		CENTRAL INDEX KEY:			0001107682

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	811-22066
		FILM NUMBER:		081104409

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		8282108184

	MAIL ADDRESS:	
		STREET 1:		ONE WEST PACK SQ
		STREET 2:		STE 1650
		CITY:			ASHEVILLE
		STATE:			NC
		ZIP:			28801
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>v127945_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0303</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2008-09-30</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001399186</issuerCik>
        <issuerName>CORNERSTONE PROGRESSIVE RETURN FUND</issuerName>
        <issuerTradingSymbol>CFP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001107682</rptOwnerCik>
            <rptOwnerName>BRADSHAW RALPH W</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>ONE WEST PACK SQ</rptOwnerStreet1>
            <rptOwnerStreet2>STE 1650</rptOwnerStreet2>
            <rptOwnerCity>ASHEVILLE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28801</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>President</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Shares of Beneficial Interest</value>
            </securityTitle>
            <transactionDate>
                <value>2008-09-30</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.99</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4316</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">Includes 482 shares acquired pursuant to CFP's dividend reinvestment plan from October 31, 2007 through July 31, 2008.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Ralph W. Bradshaw</signatureName>
        <signatureDate>2008-10-02</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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