N-Q 1 fp0016295_nq.htm
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-05150
 
Cornerstone Strategic Value Fund, Inc.
(Exact name of registrant as specified in charter)
 
48 Wall Street New York, NY
10005
(Address of principal executive offices)
(Zip code)

Frank J. Maresca
 
AST Fund Solutions, LLC        48 Wall Street                                                         New York, NY 10005
(Name and address of agent for service)

Registrant's telephone number, including area code:  (866) 668-6558

Date of fiscal year end: December 31

Date of reporting period: September 30, 2015

Item 1.  Schedule of Investments.
 

CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2015 (Unaudited)
 
Description
 
No. of
Shares
   
Value
 
EQUITY SECURITIES - 97.69%
 
   
 
CLOSED-END FUNDS - 51.37%
 
CONVERTIBLE SECURITIES - 0.66%
 
AllianzGI Convertible & Income Fund
   
259,282
    $
1,511,614
 
AllianzGI Convertible & Income Fund II
   
35,600
     
187,968
 
Calamos Convertible and High Income Fund
   
11,300
     
122,831
 
Calamos Convertible Opportunities and Income Fund
   
33,600
     
332,304
 
             
2,154,717
 
CORE - 3.95%
 
Adams Express Company (The)
   
61,285
   
 
781,384
 
Advent/Claymore Enhanced Growth & Income Fund
   
126,105
     
1,034,061
 
Gabelli Equity Trust Inc. (The)
   
553,597
     
2,889,776
 
General American Investors Company, Inc.
   
71,121
     
2,203,329
 
Guggenheim Enhanced Equity Strategy Fund
   
28,369
     
422,698
 
Liberty All-Star Equity Fund
   
871,424
     
4,426,834
 
Royce Micro-Cap Trust, Inc.
   
89,959
     
696,283
 
Sprott Focus Trust, Inc.
   
71,100
     
420,201
 
Tri-Continental Corporation
   
3,115
     
60,742
 
             
12,935,308
 
CORPORATE DEBT INVESTMENT GRADE-RATED - 0.00%
 
Cutwater Select Income Fund
   
1
     
26
 
                 
DEVELOPED MARKET - 1.49%
 
Aberdeen Australia Equity Fund, Inc.
   
401,670
     
2,148,533
 
Aberdeen Singapore Fund, Inc.
   
38,986
     
336,839
 
New Ireland Fund, Inc. (The)
   
25,720
     
345,934
 
Swiss Helvetia Fund, Inc. (The)
   
189,319
     
2,056,004
 
             
4,887,310
 
EMERGING MARKETS - 3.59%
 
Aberdeen Chile Fund, Inc.
   
148,715
     
889,316
 
First Trust/Aberdeen Emerging Opportunity Fund
   
8,103
     
105,825
 
JPMorgan China Region Fund, Inc.
   
19,417
     
278,051
 
Mexico Fund, Inc. (The)
   
17,900
     
311,818
 
Morgan Stanley China A Share Fund, Inc.
   
258,150
     
5,792,886
 
Templeton Dragon Fund, Inc.
   
48,787
     
912,317
 
Turkish Investment Fund, Inc. (The)
   
32,598
     
260,784
 
Voya Emerging Markets High Dividend Equity Fund
   
415,446
     
3,203,089
 
             
11,754,086
 
EMERGING MARKETS DEBT - 0.50%
 
Global High Income Fund Inc.
   
90,852
     
701,377
 
Western Assets Emerging Markets Income Fund, Inc.
   
99,605
     
952,224
 
             
1,653,601
 
ENERGY MLP - 1.41%
 
ClearBridge Energy MLP Opportunity Fund Inc.
   
136,104
     
1,962,620
 
ClearBridge Energy MLP Total Return Fund Inc.
   
184,485
     
2,536,669
 
Nuveen Energy MLP Total Return Fund
   
8,609
     
108,215
 
             
4,607,504
 
GENERAL & INSURED LEVERAGED - 0.26%
 
Invesco Value Municipal Income Trust
   
1
     
13
 
Nuveen Dividend Advantage Municipal Fund 3
   
47,804
     
648,222
 
 
See accompanying notes to schedule of investments.


CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2015 (Unaudited)
 
Description
 
No. of
Shares
    Value  
Nuveen Select Quality Municipal Fund, Inc.
   
16,140
    $
215,792
 
             
864,027
 
GENERAL BOND - 0.67%
 
Deutsche Multi-Market Income Trust
   
218,298
     
1,613,222
 
Deutsche Strategic Income Trust
   
58,024
     
596,487
 
             
2,209,709
 
GLOBAL - 7.03%
 
Alpine Global Dynamic Dividend Fund
   
227,745
     
1,947,220
 
Alpine Global Total Dynamic Dividend Fund
   
1,091,449
     
8,185,867
 
Clough Global Allocation Fund
   
19,347
     
252,478
 
Delaware Enhanced Global Dividend and Income Fund
   
322,106
     
2,982,702
 
GDL Fund (The)
   
246,684
     
2,422,437
 
Gabelli Multimedia Fust Inc. (The)
   
25,584
     
192,647
 
John Hancock Hedged Equity & Income Fund
   
35,017
     
503,895
 
Lazard Global Total Return and Income Fund, Inc.
   
3,694
     
46,286
 
Lazard World Dividend & Income Fund, Inc.
   
44,656
     
406,816
 
Nuveen Global Value Opportunities Fund
   
173,662
     
1,769,616
 
Royce Global Value Trust, Inc.
   
1,700
     
11,917
 
Virtus Total Return Fund
   
37,841
     
143,039
 
Voya Infrastructure, Industrials and Materials Fund
   
108,271
     
1,327,402
 
Wells Fargo Advantage Global Dividend Opportunity Fund
   
482,546
     
2,851,847
 
             
23,044,169
 
GROWTH FUNDS - 0.13%
 
Liberty All-Star Growth Fund, Inc.
   
95,125
     
431,867
 
                 
HIGH CURRENT YIELD (LEVERAGED) - 1.68%
 
AllianceBernstein Global High Income Fund, Inc.
   
109,924
     
1,216,859
 
BlackRock Corporate High Yield Fund VI, Inc.
   
280,109
     
2,764,676
 
BlackRock Debt Strategies Fund, Inc.
   
231,134
     
771,988
 
First Trust Strategic High Income Fund II
   
1,151
     
13,236
 
Franklin Universal Trust
   
18,322
     
108,283
 
Invesco High Income Trust II
   
10,684
     
137,503
 
MFS Intermediate High Income Fund
   
4,695
     
10,658
 
 Neuberger Berman High Yield Strategies Fund Inc.
   
46,181
     
470,584
 
             
5,493,787
 
HIGH YIELD - 0.10%
 
Credit Suisse Asset Management Income Fund, Inc.
   
32,550
     
92,116
 
Western Asset Managed High Income Fund Inc.
   
49,725
     
222,271
 
             
314,387
 
HIGH YIELD MUNICIPAL DEBT - 0.07%
 
MFS High Income Municipal Trust
   
48,354
     
229,681
 
 
               
INCOME & PREFERRED STOCK - 0.20%
 
LMP Capital and Income Fund Inc.
   
53,674
     
652,676
 
                 
LOAN PARTICIPATION - 0.49%
 
Nuveen Credit Strategies Income Fund
   
201,766
     
1,610,093
 
                 
NATURAL RESOURCES - 3.31%
 
BlackRock Resources & Commodities Strategy Trust
   
1,389,918
     
9,868,418
 
 
See accompanying notes to schedule of investments.


CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2015 (Unaudited)
 
Description   No. of
Shares
    Value  
First Trust Energy Infrastructure Fund
   
61,159
    $
977,932
 
             
10,846,350
 
OPTION ARBITRAGE/OPTIONS STRATEGIES - 5.39%
 
AllianzGI NFJ Dividend, Interest & Premium Strategy Fund
   
657,556
     
8,403,566
 
BlackRock Global Opportunities Equity Trust
   
237,932
     
2,878,977
 
Eaton Vance Risk-Managed Diversified Equity Income Fund
   
18,750
     
180,000
 
Madison Strategic Sector Premium Fund
   
20,754
     
221,445
 
Nuveen Nasdaq 100 Dynamic Overwrite Fund
   
248,959
     
4,289,564
 
Voya Global Equity Dividend and Premium Opportunity Fund
   
243,438
     
1,691,894
 
             
17,665,446
 
PACIFIC EX JAPAN - 0.42%
 
Aberdeen Greater China Fund, Inc.
   
53,382
     
452,679
 
China Fund, Inc. (The)
   
49,802
     
792,350
 
Morgan Stanley Thai Fund, Inc.
   
19,898
     
140,878
 
             
1,385,907
 
REAL ESTATE - 13.29%
 
Alpine Global Premier Properties Fund
   
1,104,363
     
6,162,345
 
CBRE Clarion Global Real Estate Income Fund
   
1,220,355
     
9,006,220
 
Cohen & Steers Preferred Securities and Income Fund, Inc.
   
713,745
     
12,369,201
 
Cohen & Steers Quality Income Realty Fund, Inc.
   
513,634
     
5,804,064
 
Cohen & Steers Total Return Realty Fund, Inc.
   
118,000
     
1,401,840
 
LMP Real Estate Income Fund Inc.
   
121,833
     
1,496,109
 
Neuberger Berman Real Estate Securities Income Fund Inc.
   
931,144
     
4,292,574
 
Nuveen Real Estate Income Fund
   
65,233
     
655,592
 
RMR Real Estate Income Fund
   
130,445
     
2,346,704
 
             
43,534,649
 
SECTOR EQUITY - 1.75%
 
GAMCO Global Gold, Natural Resources & Income Trust
   
492,323
     
2,456,692
 
GAMCO Natural Resources, Gold & Income Trust by Gabelli
   
385,958
     
2,234,697
 
John Hancock Financial Opportunities Fund 
   
41,016
     
1,037,705
 
             
5,729,094
 
U.S. MORTGAGE - 0.02%
 
First Trust Mortgage Income Fund
   
5,090
     
73,245
 
                 
UTILITY - 4.93%
 
BlackRock Utility and Infrastructure Trust
   
48,646
     
790,984
 
Brookfield Global Listed Infrastructure Income Fund Inc.
   
204,299
     
2,559,866
 
Cohen & Steers Infrastructure Fund, Inc.
   
312,272
     
5,955,027
 
Duff & Phelps Global Utility Income Fund Inc.
   
313,099
     
4,740,319
 
Gabelli Global Utility & Income Trust (The)
   
60,473
     
970,592
 
Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund
   
4,785
     
60,100
 
Macquarie Global Infrastructure Total Return Fund Inc.
   
28,440
     
548,039
 
Tekla Healthcare Opportunities Fund
   
9,200
     
149,960
 
Wells Fargo Advantage Utilities and High Income Fund
   
37,299
     
394,250
 
             
16,169,137
 
VALUE - 0.02%
 
First Trust Dividend and Income Fund
   
10,000
     
78,200
 
                 
TOTAL CLOSED-END FUNDS
           
168,324,976
 
 
See accompanying notes to schedule of investments.


CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2015 (Unaudited)
 
 Description   No. of
Shares
    Value  
CONSUMER DISCRETIONARY - 5.52%
 
   
 
Comcast Corporation - Class A
   
59,013
    $
3,356,659
 
Home Depot, Inc. (The)
   
19,600
     
2,263,604
 
Johnson Controls, Inc.
   
15,500
     
641,080
 
Lowe's Companies, Inc.
   
8,000
     
551,360
 
Macy's, Inc.
   
10,000
     
513,200
 
News Corporation - Class B *
   
1,250
     
16,025
 
Starbucks Corporation
   
15,000
     
852,600
 
Time Inc.
   
1,362
     
25,946
 
Time Warner Cable Inc.
   
4,000
     
717,480
 
Time Warner Inc.
   
22,900
     
1,574,375
 
TJX Companies, Inc. (The)
   
10,000
     
714,200
 
Twenty-First Century Fox, Inc.
   
5,000
     
135,350
 
Viacom Inc. - Class B
   
3,950
     
170,444
 
Walt Disney Company (The)
   
64,200
     
6,561,240
 
 
           
18,093,563
 
CONSUMER STAPLES - 5.19%
               
Archer-Daniels-Midland Company
   
16,000
     
663,200
 
Constellation Brands, Inc.
   
3,000
     
375,630
 
Costco Wholesale Corporation
   
9,000
     
1,301,130
 
CVS Caremark Corporation
   
28,430
     
2,742,926
 
Kraft Heinz Company (The)
   
4,000
     
282,320
 
Kroger Co. (The)
   
30,000
     
1,082,100
 
Mondelēz International, Inc. - Class A
   
26,000
     
1,088,620
 
Monster Beverage Corporation *
   
4,000
     
540,560
 
Reynolds American Inc.
   
22,000
     
973,940
 
Walgreens Boots Alliance, Inc.
   
15,000
     
1,246,500
 
Wal-Mart Stores, Inc.
   
103,700
     
6,723,908
 
 
           
17,020,834
 
ENERGY - 2.41%
               
Chevron Corporation
   
10,000
     
788,800
 
ConocoPhillips
   
21,974
     
1,053,873
 
EOG Resources, Inc.
   
15,000
     
1,092,000
 
Exxon Mobil Corporation
   
39,936
     
2,969,242
 
Kinder Morgan, Inc.
   
12,000
     
332,160
 
Phillips 66
   
14,487
     
1,113,181
 
Schlumberger Limited
   
8,000
     
551,760
 
 
           
7,901,016
 
EXCHANGE-TRADED FUNDS - 3.52%
               
iShares Core S&P 500 ETF
   
30,000
     
5,781,300
 
SPDR S&P 500 ETF Trust
   
30,000
     
5,748,900
 
 
           
11,530,200
 
FINANCIALS - 7.49%
               
ACE Limitied
   
4,000
     
413,600
 
Allstate Corporation (The)
   
4,000
     
232,960
 
American Express Company
   
13,000
     
963,690
 
American International Group, Inc.
   
8,000
     
454,560
 
Ameriprise Financial, Inc.
   
2,000
     
218,260
 
Aon plc
   
8,500
     
753,185
 
 
See accompanying notes to schedule of investments.


CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2015 (Unaudited)
 
Description   No. of
Shares
    Value  
Berkshire Hathaway Inc. - Class B *
   
21,000
    $
2,738,400
 
BlackRock, Inc. - Class A
   
3,500
     
1,041,145
 
Capital One Financial Corporation
   
4,500
     
326,340
 
Chubb Corporation (The)
   
2,000
     
245,300
 
Discover Financial Services
   
6,500
     
337,935
 
Intercontinental Exchange, Inc.
   
1,500
     
352,485
 
JPMorgan Chase & Co.
   
106,132
     
6,470,868
 
Marsh & McLennan Companies, Inc.
   
8,500
     
443,870
 
McGraw Hill Financial, Inc.
   
2,000
     
173,000
 
Moody’s Corporation
   
3,000
     
294,600
 
Morgan Stanley
   
39,000
     
1,228,500
 
PNC Financial Services Group, Inc. (The)
   
8,000
     
713,600
 
SunTrust Banks, Inc.
   
6,000
     
229,440
 
Travelers Companies, Inc. (The)
   
4,000
     
398,120
 
Wells Fargo & Company
   
126,800
     
6,511,180
 
 
           
24,541,038
 
HEALTH CARE - 6.10%
               
Abbott Laboratories
   
26,200
     
1,053,764
 
AbbVie Inc.
   
16,200
     
881,442
 
Aetna Inc.
   
11,000
     
1,203,510
 
Allergan plc *
   
6,577
     
1,787,694
 
Amgen Inc.
   
17,800
     
2,462,096
 
Anthem, Inc.
   
9,000
     
1,260,000
 
Baxter International Inc.
   
4,000
     
131,400
 
Boston Scientific Corporation *
   
2,000
     
32,820
 
Cardinal Health, Inc.
   
6,000
     
460,920
 
Celgene Corporation *
   
10,000
     
1,081,700
 
Cigna Corporation
   
5,000
     
675,100
 
Express Scripts Holding Company *
   
8,000
     
647,680
 
Gilead Sciences, Inc.
   
14,000
     
1,374,660
 
Johnson & Johnson
   
13,000
     
1,213,550
 
McKesson Corporation
   
4,800
     
888,144
 
Merck & Company, Inc.
   
35,267
     
1,741,837
 
Regeneron Pharmaceuticals, Inc. *
   
1,000
     
465,140
 
St. Jude Medical, Inc.
   
5,000
     
315,450
 
Stryker Corporation
   
4,000
     
376,400
 
Thermo Fisher Scientific Inc.
   
10,000
     
1,222,800
 
UnitedHealth Group Incorporated
   
6,000
     
696,060
 
 
           
19,972,167
 
INDUSTRIALS - 4.42%
               
Boeing Company (The)
   
6,000
     
785,700
 
CSX Corporation
   
12,000
     
322,800
 
Danaher Corporation
   
5,000
     
426,050
 
Delta Air Lines, Inc.
   
18,000
     
807,660
 
FedEx Corporation
   
6,000
     
863,880
 
General Dynamics Corporation
   
6,000
     
827,700
 
General Electric Company
   
110,000
     
2,774,200
 
Honeywell International Inc.
   
16,000
     
1,515,040
 
Illinois Tool Works Inc.
   
8,000
     
658,480
 
Lockheed Martin Corporation
   
7,000
     
1,451,170
 
 
See accompanying notes to schedule of investments.


CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2015 (Unaudited)
 
Description   No. of
Shares
    Value  
Norfolk Southern Corporation
   
3,000
    $
229,200
 
Northrop Grumman Corporations
   
2,000
     
331,900
 
Precision Castparts Corporation
   
2,000
     
459,420
 
Southwest Airlines Co.
   
12,000
     
456,480
 
3M Company
   
5,000
     
708,850
 
Union Pacific Corporation
   
21,000
     
1,856,610
 
 
           
14,475,140
 
INFORMATION TECHNOLOGY - 8.68%
               
Apple Inc.
   
113,300
     
12,496,990
 
Automatic Data Processing, Inc.
   
7,000
     
562,520
 
Cisco Systems, Inc.
   
70,000
     
1,837,500
 
Cognizant Technology Solutions Corporation *
   
6,000
     
375,660
 
Facebook, Inc. *
   
11,000
     
988,900
 
Fiserv, Inc. *
   
4,000
     
346,440
 
Google Inc. - Class A *
   
2,000
     
1,276,740
 
Google Inc. - Class C *
   
4,005
     
2,436,723
 
Intel Corporation
   
66,000
     
1,989,240
 
MasterCard Incorporated
   
10,000
     
901,200
 
Microsoft Corporation
   
22,000
     
973,720
 
Oracle Corporation
   
96,272
     
3,477,345
 
QUALCOMM Incorporated
   
14,500
     
779,085
 
 
           
28,442,063
 
MATERIALS - 1.15%
               
Air Products & Chemicals, Inc.
   
5,000
     
637,900
 
Dow Chemical Company (The)
   
29,500
     
1,250,800
 
Ecolab Inc.
   
5,500
     
603,460
 
LyondellBasell Industries N.V.
   
7,000
     
583,520
 
PPG Industries, Inc.
   
8,000
     
701,520
 
 
           
3,777,200
 
TELECOMMUNICATION SERVICES - 1.27%
               
AT&T, Inc.
   
7,568
     
246,565
 
Verizon Communications, Inc.
   
90,000
     
3,915,900
 
 
           
4,162,465
 
UTILITIES - 0.56%
               
NextEra Energy, Inc.
   
6,000
     
585,300
 
PG&E Corporation
   
12,000
     
633,600
 
PPL Corporation
   
6,000
     
197,340
 
Public Service Enterprises Group, Inc.
   
6,500
     
274,040
 
Xcel Energy Inc.
   
4,000
     
141,640
 
 
           
1,831,920
 
TOTAL EQUITY SECURITIES (cost - $331,576,017)
           
320,072,582
 
 
               
SHORT-TERM INVESTMENTS - 2.53%
               
MONEY MARKET FUNDS - 2.53%
               
Fidelity Institutional Money Market Government Portfolio - Class I, 0.01%^ (cost - $8,289,987)
   
8,289,987
     
8,289,987
 
 
               
TOTAL INVESTMENTS - 100.22% (cost - $339,866,004)
           
328,362,569
 
 
               
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.22)%
           
(713,864
)
 
See accompanying notes to schedule of investments.


CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2015 (Unaudited)
 
Description
   
No. of
Shares
      Value  
NET ASSETS - 100.00%
         
$
327,648,705
 
 

* Non-income producing security.      
^ The rate shown is the 7-day effective yield as of September 30, 2015.      
 
See accompanying notes to schedule of investments.


CORNERSTONE STRATEGIC VALUE FUND, INC.
NOTES TO SCHEDULE OF INVESTMENTS
SEPTEMBER 30, 2015 (UNAUDITED)
 
Federal Income Tax Cost: The following information is computed on a tax basis for each item as of September 30, 2015:

Cost of portfolio investments
 
$
340,190,644
 
Gross unrealized appreciation
 
$
27,018,267
 
Gross unrealized depreciation
   
(38,846,342
)
Net unrealized appreciation
 
$
(11,828,075
)

The difference between the federal income tax cost of portfolio investments and the Schedule of Investments cost for the Fund is due to certain timing differences in the recognition of capital gains or losses under income tax regulations and generally accepted accounting principles. These "book/tax" differences are temporary in nature and are due to the tax deferral of losses on wash sales.

As required by the Fair Value Measurement and Disclosures Topic of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification, the Fund has performed an analysis of all assets and liabilities measured at fair value to determine the significance and character of all inputs to their fair value determination.

The fair value hierarchy prioritizes the inputs to valuation techniques used to measure fair value into the following three broad categories.

·
Level 1 - quoted unadjusted prices for identical instruments in active markets to which the Fund has access at the date of measurement.

·
Level 2 - quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers.

·
Level 3 - model derived valuations in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are those inputs that reflect the Fund's own assumptions that market participants would use to price the asset or liability based on the best available information.


The following is a summary of the inputs used as of September 30, 2015 in valuing the Fund's investments carried at value:
 
 
 
VALUATION INPUTS
 
INVESTMENTS
IN
SECURITIES
   
OTHER FINANCIAL INSTRUMENTS*
 
         
Level 1 – Quoted Prices
       
   Equity Investments
 
$
320,072,582
   
$
-
 
   Short-Term Investments
   
8,289,987
     
-
 
Level 2 – Other Significant Observable Inputs
   
-
     
-
 
Level 3 – Significant Unobservable Inputs
   
-
     
-
 
Total
 
$
328,362,569
   
$
-
 

* Other financial instruments include futures, forwards and swap contracts, if any.

The breakdown of the Fund's investments into major categories is disclosed in its Schedule of Investments.

As of September 30, 2015, the Fund did not have any transfers in and out of any Level.

The Fund did not have any assets or liabilities that were measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at September 30, 2015.

The Fund is exposed to financial market risks, including the valuations of its investment portfolio. During the nine months ended September 30, 2015, the Fund did not engage in derivative instruments and other hedging activities.

The Fund has evaluated the need for additional disclosures and/or adjustments resulting through the date its financial statements were issued. Based on this evaluation, no additional disclosures or adjustments were required to such Schedule of Investments.

Securities valuation policies and other investment related disclosures are hereby incorporated by reference to the Fund's semi-annual report previously filed with the Securities and Exchange Commission on the Form N-CSR on September 1, 2015 with a file number 811-05150.

Other information regarding the Fund is available in the Fund’s most recent semi-annual report. This information is also available on the Fund’s website at www.cornerstonestrategicvaluefund.com; or on the website of the Securities and Exchange Commission at www.sec.gov
 

Item 2.  Controls and Procedures.
 
(a)   Based on their evaluation of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) as of a date within 90 days of the filing date of this report, the registrant’s principal executive officer and principal financial officer have concluded that such disclosure controls and procedures are reasonably designed and are operating effectively to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to them by others within those entities, particularly during the period in which this report is being prepared, and that such information is recorded, processed, summarized, and reported on a timely basis.

(b)   There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 3.  Exhibits.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)):  Attached hereto


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) Cornerstone Strategic Value Fund, Inc.

By (Signature and Title)*
/s/ Ralph W. Bradshaw
 
   
Ralph W. Bradshaw, President and Chairman
 
   
(Principal Executive Officer)
 
       
Date
October 15, 2015
   
       
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
       
By (Signature and Title)*
/s/ Ralph W. Bradshaw
 
   
Ralph W. Bradshaw, President and Chairman
 
   
(Principal Executive Officer)
 
       
Date
October 15, 2015
   
       
By (Signature and Title)*
/s/ Frank J. Maresca
 
   
Frank J. Maresca, Treasurer
(Principal Financial Officer)
 
       
Date
October 15, 2015
   

* Print the name and title of each signing officer under his or her signature.