CORNERSTONE STRATEGIC VALUE FUND, INC. | ||||||||
SCHEDULE OF INVESTMENTS - MARCH 31, 2021 (Unaudited) | ||||||||
Description | No. of Shares | Value | ||||||
EQUITY SECURITIES - 99.58% | ||||||||
CLOSED-END FUNDS - 13.92% | ||||||||
CONVERTIBLE SECURITIES - 0.29% | ||||||||
Virtus AllianzGI Equity & Convertible Income Fund | 78,400 | $ | 2,195,991 | |||||
CORE - 1.84% | ||||||||
General American Investors Company, Inc. | 256,268 | 10,209,717 | ||||||
Royce Micro-Cap Trust, Inc. | 334,715 | 3,782,280 | ||||||
13,991,997 | ||||||||
DEVELOPED MARKET - 0.57% | ||||||||
Aberdeen Japan Equity Fund, Inc. | 32,524 | 293,366 | ||||||
First Trust Dynamic Europe Equity Income Fund | 156,093 | 1,982,382 | ||||||
Japan Smaller Capitalization Fund, Inc. | 163,000 | 1,515,900 | ||||||
New Germany Fund, Inc. (The) | 12,100 | 239,217 | ||||||
Swiss Helvetia Fund, Inc. (The) | 39,127 | 343,926 | ||||||
4,374,791 | ||||||||
DIVERSIFIED EQUITY - 4.28% | ||||||||
Adams Diversified Equity Fund, Inc. | 721,091 | 13,167,121 | ||||||
Gabelli Dividend & Income Trust (The) | 140,314 | 3,361,923 | ||||||
Guggenheim Enhanced Equity Income Fund | 220,353 | 1,588,745 | ||||||
Nuveen Tax-Advantaged Total Return Strategy Fund | 10,265 | 110,246 | ||||||
Royce Value Trust, Inc. | 635,668 | 11,511,948 | ||||||
Sprott Focus Trust, Inc. | 92,158 | 721,597 | ||||||
Tri-Continental Corporation | 66,984 | 2,172,291 | ||||||
32,633,871 | ||||||||
EMERGING MARKETS - 0.75% | ||||||||
Aberdeen Emerging Markets Equity Income Fund, Inc. | 150,763 | 1,304,100 | ||||||
Central and Eastern Europe Fund, Inc. (The) | 38,061 | 916,509 | ||||||
Korea Fund, Inc. (The) | 1,149 | 49,855 | ||||||
Mexico Fund, Inc. (The) | 35,229 | 498,490 | ||||||
Morgan Stanley India Investment Fund, Inc. | 125,932 | 2,935,777 | ||||||
5,704,731 | ||||||||
ENERGY MLP FUNDS - 0.86% | ||||||||
Goldman Sachs MLP and Energy Renaissance Fund | 7,282 | 70,490 | ||||||
Kayne Anderson Energy Infrastructure Fund, Inc. | 225,000 | 1,613,250 | ||||||
Kayne Anderson NextGen Energy & Infrastructure, Inc. | 292,663 | 1,949,136 |
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC. | ||||||||
SCHEDULE OF INVESTMENTS - MARCH 31, 2021 (Unaudited)(Continued) | ||||||||
Description | No. of Shares | Value | ||||||
ENERGY MLP FUNDS - 0.86% (Continued) | ||||||||
Neuberger Berman MLP and Energy Income Fund Inc. | 693,000 | $ | 2,910,599 | |||||
6,543,475 | ||||||||
GLOBAL - 0.66% | ||||||||
Aberdeen Total Dynamic Dividend Fund | 310,943 | 2,963,287 | ||||||
Delaware Enhanced Global Dividend and Income Fund | 30,908 | 303,207 | ||||||
Gabelli Global Small and Mid Cap Value Trust (The) | 51,978 | 758,359 | ||||||
GDL Fund (The) | 109,372 | 976,692 | ||||||
Royce Global Value Trust, Inc. * | 2,413 | 34,289 | ||||||
5,035,834 | ||||||||
INCOME & PREFERRED STOCK - 1.09% | ||||||||
Calamos Long/Short Equity & Dynamic Income Trust | 229,000 | 4,605,190 | ||||||
LMP Capital and Income Fund Inc. | 213,291 | 2,708,809 | ||||||
Nuveen Tax-Advantaged Dividend Growth Fund | 67,158 | 1,014,757 | ||||||
8,328,756 | ||||||||
NATURAL RESOURCES - 0.38% | ||||||||
Adams Natural Resources Fund, Inc. | 154,700 | 2,275,637 | ||||||
Cushing NextGen Infrastructure Income Fund (The) | 12,500 | 504,750 | ||||||
First Trust Energy Infrastructure Fund | 11,704 | 144,896 | ||||||
2,925,283 | ||||||||
OPTION ARBITRAGE/OPTIONS STRATEGIES - 0.91% | ||||||||
BlackRock Enhanced International Dividend Trust | 21,100 | 128,077 | ||||||
Nuveen Dow 30SM Dynamic Overwrite Fund | 89,757 | 1,458,551 | ||||||
Virtus Dividend, Interest & Premium Strategy Fund | 387,393 | 5,338,276 | ||||||
6,924,904 | ||||||||
REAL ESTATE - 0.13% | ||||||||
Nuveen Real Estate Income Fund | 102,120 | 979,342 | ||||||
SECTOR EQUITY - 1.81% | ||||||||
BlackRock Health Sciences Trust II | 230,557 | 6,063,650 | ||||||
Gabelli Healthcare & WellnessRx Trust (The) | 109,863 | 1,368,893 | ||||||
GAMCO Global Gold, Natural Resources & Income Trust | 181,000 | 628,070 | ||||||
GAMCO Natural Resources, Gold & Income Trust | 202,320 | 1,015,646 | ||||||
Nuveen Real Asset Income and Growth Fund | 181,724 | 2,674,977 | ||||||
Tekla World Healthcare Fund | 1,000 | 15,070 |
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC. | ||||||||
SCHEDULE OF INVESTMENTS - MARCH 31, 2021 (Unaudited)(Continued) | ||||||||
Description | No. of Shares | Value | ||||||
SECTOR EQUITY - 1.81% (Continued) | ||||||||
Virtus AllianzGI Artificial Intelligence & Technology Opportunities Fund | 77,889 | $ | 2,068,732 | |||||
13,835,038 | ||||||||
UTILITY - 0.35% | ||||||||
Macquarie Global Infrastructure Total Return Fund Inc. | 120,888 | 2,642,612 | ||||||
TOTAL CLOSED-END FUNDS | 106,116,625 | |||||||
COMMUNICATION SERVICES - 10.40% | ||||||||
Alphabet Inc. - Class C * | 18,000 | 37,235,340 | ||||||
Charter Communications, Inc. - Class A * | 12,000 | 7,404,240 | ||||||
Comcast Corporation - Class A | 174,000 | 9,415,140 | ||||||
Netflix, Inc. * | 20,000 | 10,433,200 | ||||||
Walt Disney Company (The) * | 80,000 | 14,761,600 | ||||||
79,249,520 | ||||||||
CONSUMER DISCRETIONARY - 11.92% | ||||||||
Amazon.com, Inc. * | 20,000 | 61,881,600 | ||||||
Best Buy Co., Inc. | 11,000 | 1,262,910 | ||||||
Dollar General Corporation | 14,000 | 2,836,680 | ||||||
eBay Inc. | 32,000 | 1,959,680 | ||||||
Hilton Worldwide Holdings Inc. * | 11,000 | 1,330,120 | ||||||
Target Corporation | 25,000 | 4,951,750 | ||||||
Tesla, Inc. * | 20,000 | 13,358,600 | ||||||
TJX Companies, Inc. (The) | 50,000 | 3,307,500 | ||||||
90,888,840 | ||||||||
CONSUMER STAPLES - 5.29% | ||||||||
Colgate-Palmolive Company | 34,000 | 2,680,220 | ||||||
Costco Wholesale Corporation | 25,500 | 8,988,240 | ||||||
Estée Lauder Companies Inc. (The) - Class A | 9,000 | 2,617,650 | ||||||
General Mills, Inc. | 12,000 | 735,840 | ||||||
Kroger Co. (The) | 40,000 | 1,439,600 | ||||||
Procter & Gamble Company (The) | 130,000 | 17,605,900 |
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC. | ||||||||
SCHEDULE OF INVESTMENTS - MARCH 31, 2021 (Unaudited)(Continued) | ||||||||
Description | No. of Shares | Value | ||||||
CONSUMER STAPLES - 5.29% (Continued) | ||||||||
Walmart Inc. | 46,000 | $ | 6,248,180 | |||||
40,315,630 | ||||||||
EXCHANGE-TRADED FUNDS - 2.45% | ||||||||
Energy Select Sector SPDR® Fund (The) | 224,000 | 10,989,440 | ||||||
Invesco QQQ TrustSM, Series 1 | 24,000 | 7,659,120 | ||||||
18,648,560 | ||||||||
FINANCIALS - 8.94% | ||||||||
Aflac Incorporated | 27,000 | 1,381,860 | ||||||
Allstate Corporation (The) | 15,000 | 1,723,500 | ||||||
Aon plc - Class A | 12,000 | 2,761,320 | ||||||
Berkshire Hathaway Inc. - Class B * | 39,000 | 9,963,330 | ||||||
BlackRock, Inc. | 6,000 | 4,523,760 | ||||||
Charles Schwab Corporation (The) | 62,000 | 4,041,160 | ||||||
Chubb Limited | 18,000 | 2,843,460 | ||||||
Goldman Sachs Group, Inc. (The) | 14,000 | 4,578,000 | ||||||
Intercontinental Exchange, Inc. | 27,000 | 3,015,360 | ||||||
JPMorgan Chase & Co. | 104,000 | 15,831,920 | ||||||
Marsh & McLennan Companies, Inc. | 24,000 | 2,923,200 | ||||||
Progressive Corporation (The) | 29,000 | 2,772,690 | ||||||
S&P Global Inc. | 12,000 | 4,234,440 | ||||||
T. Rowe Price Group, Inc. | 9,000 | 1,544,400 | ||||||
Travelers Companies, Inc. (The) | 10,000 | 1,504,000 | ||||||
Truist Financial Corporation | 76,965 | 4,488,599 | ||||||
68,130,999 | ||||||||
HEALTH CARE - 11.72% | ||||||||
Abbott Laboratories | 40,000 | 4,793,600 | ||||||
AbbVie Inc. | 87,000 | 9,415,140 | ||||||
Agilent Technologies, Inc. | 16,000 | 2,034,240 | ||||||
Amgen Inc. | 12,000 | 2,985,720 | ||||||
Anthem, Inc. | 10,000 | 3,589,500 | ||||||
Biogen Inc. * | 6,000 | 1,678,500 | ||||||
Boston Scientific Corporation * | 60,000 | 2,319,000 | ||||||
Bristol-Myers Squibb Company | 48,000 | 3,030,240 | ||||||
Centene Corporation * | 28,000 | 1,789,480 | ||||||
Cigna Corporation | 16,354 | 3,953,416 | ||||||
CVS Health Corporation | 62,000 | 4,664,260 |
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC. | ||||||||
SCHEDULE OF INVESTMENTS - MARCH 31, 2021 (Unaudited)(Continued) | ||||||||
Description | No. of Shares | Value | ||||||
HEALTH CARE - 11.72% (Continued) | ||||||||
DexCom, Inc. * | 4,000 | $ | 1,437,560 | |||||
Edwards Lifesciences Corporation * | 26,000 | 2,174,640 | ||||||
Eli Lilly and Company | 30,000 | 5,604,600 | ||||||
HCA Healthcare, Inc. | 11,000 | 2,071,740 | ||||||
IDEXX Laboratories, Inc. * | 4,000 | 1,957,240 | ||||||
IQVIA Holdings Inc. * | 8,000 | 1,545,120 | ||||||
Johnson & Johnson | 60,400 | 9,926,740 | ||||||
Merck & Co., Inc. | 105,000 | 8,094,450 | ||||||
Regeneron Pharmaceuticals, Inc. * | 2,000 | 946,280 | ||||||
Stryker Corporation | 15,000 | 3,653,700 | ||||||
Thermo Fisher Scientific Inc. | 20,000 | 9,127,600 | ||||||
Vertex Pharmaceuticals Incorporated * | 6,000 | 1,289,340 | ||||||
Zimmer Biomet Holdings, Inc. | 8,000 | 1,280,640 | ||||||
89,362,746 | ||||||||
INDUSTRIALS - 7.53% | ||||||||
Caterpillar Inc. | 24,000 | 5,564,880 | ||||||
Cintas Corporation | 5,000 | 1,706,550 | ||||||
CSX Corporation | 15,000 | 1,446,300 | ||||||
Cummins Inc. | 7,000 | 1,813,770 | ||||||
Deere & Company | 13,000 | 4,863,820 | ||||||
Eaton Corporation plc | 17,000 | 2,350,760 | ||||||
Emerson Electric Co. | 28,000 | 2,526,160 | ||||||
Fastenal Company | 27,000 | 1,357,560 | ||||||
FedEx Corporation | 11,000 | 3,124,440 | ||||||
General Dynamics Corporation | 16,000 | 2,904,960 | ||||||
Honeywell International Inc. | 30,000 | 6,512,100 | ||||||
Lockheed Martin Corporation | 5,000 | 1,847,500 | ||||||
Norfolk Southern Corporation | 5,000 | 1,342,600 | ||||||
Northrop Grumman Corporation | 3,000 | 970,920 | ||||||
Parker-Hannifin Corporation | 5,000 | 1,577,150 | ||||||
Roper Technologies, Inc. | 3,000 | 1,210,020 | ||||||
Union Pacific Corporation | 29,000 | 6,391,890 | ||||||
United Parcel Service, Inc. - Class B | 49,000 | 8,329,510 | ||||||
Verisk Analytics, Inc. | 3,000 | 530,070 | ||||||
Waste Management, Inc. | 8,000 | 1,032,160 | ||||||
57,403,120 |
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC. | ||||||||
SCHEDULE OF INVESTMENTS - MARCH 31, 2021 (Unaudited)(Continued) | ||||||||
Description | No. of Shares | Value | ||||||
INFORMATION TECHNOLOGY - 24.16% | ||||||||
Accenture plc - Class A | 14,000 | $ | 3,867,500 | |||||
Adobe Inc. * | 10,000 | 4,753,700 | ||||||
Advanced Micro Devices, Inc. * | 52,000 | 4,082,000 | ||||||
Apple Inc. | 355,000 | 43,363,250 | ||||||
Applied Materials, Inc. | 41,000 | 5,477,600 | ||||||
Autodesk, Inc. * | 4,000 | 1,108,600 | ||||||
Automatic Data Processing, Inc. | 18,000 | 3,392,460 | ||||||
Cisco Systems, Inc. | 180,000 | 9,307,800 | ||||||
Fidelity National Information Services, Inc. | 26,000 | 3,655,860 | ||||||
Fiserv, Inc. * | 32,000 | 3,809,280 | ||||||
HP Inc. | 50,000 | 1,587,500 | ||||||
Intel Corporation | 157,000 | 10,048,000 | ||||||
Intuit Inc. | 5,000 | 1,915,300 | ||||||
Lam Research Corporation | 4,000 | 2,380,960 | ||||||
Mastercard Incorporated - Class A | 37,000 | 13,173,850 | ||||||
Micron Technology, Inc. * | 25,000 | 2,205,250 | ||||||
Microsoft Corporation | 155,000 | 36,544,350 | ||||||
NVIDIA Corporation | 14,000 | 7,475,020 | ||||||
Oracle Corporation | 110,000 | 7,718,700 | ||||||
QUALCOMM Incorporated | 47,000 | 6,231,730 | ||||||
salesforce.com, inc. * | 16,000 | 3,389,920 | ||||||
Synopsys, Inc. * | 6,000 | 1,486,680 | ||||||
Visa, Inc. - Class A | 34,000 | 7,198,820 | ||||||
184,174,130 | ||||||||
MATERIALS - 1.95% | ||||||||
Air Products and Chemicals, Inc. | 12,000 | 3,376,080 | ||||||
Ball Corporation | 13,000 | 1,101,620 | ||||||
Ecolab Inc. | 10,000 | 2,140,700 | ||||||
Freeport-McMoRan Inc. * | 60,000 | 1,975,800 | ||||||
Newmont Corporation | 18,000 | 1,084,860 | ||||||
PPG Industries, Inc. | 10,000 | 1,502,600 | ||||||
Sherwin-Williams Company (The) | 5,000 | 3,690,050 | ||||||
14,871,710 | ||||||||
REAL ESTATE - 0.18% | ||||||||
SBA Communications Corporation | 5,000 | 1,387,750 | ||||||
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC. | ||||||||
SCHEDULE OF INVESTMENTS - MARCH 31, 2021 (Unaudited)(Concluded) | ||||||||
Description | No. of Shares | Value | ||||||
UTILITIES - 1.12% | ||||||||
American Water Works Company, Inc. | 9,000 | $ | 1,349,280 | |||||
Eversource Energy | 14,000 | 1,212,260 | ||||||
NextEra Energy, Inc. | 44,000 | 3,326,840 | ||||||
Public Service Enterprise Group Incorporated | 21,000 | 1,264,410 | ||||||
Xcel Energy Inc. | 21,000 | 1,396,710 | ||||||
8,549,500 | ||||||||
TOTAL EQUITY SECURITIES (cost - $596,414,995) | 759,099,130 | |||||||
RIGHTS – 0.00% | ||||||||
CLOSED-END FUND – 0.00% | ||||||||
SECTOR EQUITY – 0.00% | ||||||||
Tekla World Healthcare Fund, expires 04/06/2021 *(cost - $0) | 1,000 | 0 | ||||||
SHORT-TERM INVESTMENT - 0.38% | ||||||||
MONEY MARKET FUND - 0.38% | ||||||||
Fidelity Institutional Money Market Government Portfolio - Class I, 0.01% ^ (cost - $2,932,775) | 2,932,775 | 2,932,775 | ||||||
TOTAL INVESTMENTS - 99.96% (cost - $599,347,770) | 762,031,905 | |||||||
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.04% | 280,966 | |||||||
NET ASSETS - 100.00% | $ | 762,312,871 |
* | Non-income producing security. |
^ | The rate shown is the 7-day effective yield as of March 31, 2021. |
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC.
NOTES TO SCHEDULE OF INVESTMENTS
March 31, 2021 (Unaudited)
Federal Income Tax Cost: The following information is computed on a tax basis for each item as of March 31, 2021:
Cost of portfolio investments | $ | 600,137,411 | ||
Gross unrealized appreciation | $ | 168,523,735 | ||
Gross unrealized depreciation | (6,629,241 | ) | ||
Net unrealized appreciation | $ | 161,894,494 |
The difference between the federal income tax cost of portfolio investments and the Schedule of Investments cost for Cornerstone Strategic Value Fund, Inc. (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 March 31, 2021 in valuing the Fund's investments carried at value:
VALUTION INPUTS | INVESTMENTS IN SECURITIES | OTHER FINANCIAL INSTRUMENTS* | ||||||
Level 1 - Quoted Prices | ||||||||
Equity Securities | $ | 759,099,130 | $ | - | ||||
Short-Term Investment | 2,932,775 | - | ||||||
Level 2 - Other Significant Observable Inputs | - | - | ||||||
Level 3 - Significant Unobservable Inputs | - | - | ||||||
Total | $ | 762,031,905 | $ | - |
* | Other financial instruments include futures, forwards and swap contracts, if any. |
CORNERSTONE STRATEGIC VALUE FUND, INC.
NOTES TO SCHEDULE OF INVESTMENTS (Continued)
The breakdown of the Fund’s investments into major categories is disclosed in its Schedule of Investments.
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 March 31, 2021.
The Fund is exposed to financial market risks, including the valuations of its investment portfolio. During the period ended March 31, 2021, 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 annual report previously filed with the Securities and Exchange Commission on the Form N-CSR on March 4, 2021 with a file number 811-05150.
Other information regarding the Fund is available in the Fund’s most recent 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.