0001752724-24-054148.txt : 20240313 0001752724-24-054148.hdr.sgml : 20240313 20240313171843 ACCESSION NUMBER: 0001752724-24-054148 CONFORMED SUBMISSION TYPE: N-CEN/A PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240313 DATE AS OF CHANGE: 20240313 EFFECTIVENESS DATE: 20240313 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORNERSTONE STRATEGIC VALUE FUND INC CENTRAL INDEX KEY: 0000814083 ORGANIZATION NAME: IRS NUMBER: 133407699 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-CEN/A SEC ACT: 1940 Act SEC FILE NUMBER: 811-05150 FILM NUMBER: 24747024 BUSINESS ADDRESS: STREET 1: 225 PICTORIA DRIVE, SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 BUSINESS PHONE: (513) 587-3400 MAIL ADDRESS: STREET 1: 225 PICTORIA DRIVE, SUITE 450 CITY: CINCINNATI STATE: OH ZIP: 45246 FORMER COMPANY: FORMER CONFORMED NAME: CORNERSTONE STRATEGIC VALUE FUND INC/ NEW DATE OF NAME CHANGE: 20010503 FORMER COMPANY: FORMER CONFORMED NAME: CLEMENTE STRATEGIC VALUE FUND INC DATE OF NAME CHANGE: 19990622 FORMER COMPANY: FORMER CONFORMED NAME: CLEMENTE GLOBAL GROWTH FUND INC DATE OF NAME CHANGE: 19920703 N-CEN/A 1 primary_doc.xml X0404 N-CEN/A 0001752724-24-051165 LIVE 0000814083 XXXXXXXX 811-05150 false false false N-2 Cornerstone Strategic Value Fund Inc 811-05150 0000814083 549300H6BMBD46PC0Z18 225 Pictoria Drive Suite 450 Cincinnati 45246-1617 US-OH US 513-587-3400 Ultimus Fund Solutions, LLC 225 Pictoria Drive Suite 450 Cincinnati 45246-1617 513-587-3400 Accounts, books and other documents required to be maintained by Section 31(a) of the Investment Company Act of 1940 and the Rules promulgated thereunder N N N N-2 Y Andrew A. Strauss N/A N Joshua G. Bradshaw 007076349 Y Marcia E. Malzahn N/A N Robert E. Dean N/A N Matthew W. Morris N/A N Ralph W. Bradshaw 002366278 Y Daniel W. Bradshaw 005944371 Y Scott B. Rogers N/A N Frank J. Maresca N/A N Rachel L. McNabb 006609491 1075 Hendersonville Road Suite 250 Asheville 28803 XXXXXX N N N N N N N N Cohen & Company, Ltd. 925 N/A N N N N N N Cornerstone Strategic Value Fund, Inc. 549300H6BMBD46PC0Z18 N N/A N N Y N N/A N/A N/A N/A N N N N Cornerstone Advisors, LLC 801-114872 000300891 N/A N Equiniti Trust Company, LLC 084-00416 254900TS5EWP83BEOU02 N N N Interactive Data Pricing and Reference Data LLC 801-55222 SEC File No. N N U.S. Bank, N.A. 6BYL5QZYBDK8S7L73M02 N N Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1)) N Equiniti Trust Company, LLC 254900TS5EWP83BEOU02 N/A N N N Ultimus Fund Solutions, LLC 084-05829 SEC File No. N N N Interactive Brokers LLC 008-47257 000036418 50OBSE5T5521O6SMZR28 43157.99 1569732643.32 Interactive Brokers LLC 008-47257 000036418 50OBSE5T5521O6SMZR28 410628.37 176826168.46 N 1504668275.63 Common stock Common N N N N N N 1.00 1.11 7.19 6.77 true INTERNAL CONTROL RPT 2 cornerstonestrategicncen.htm

REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To the Shareholders and Board of Directors of

Cornerstone Strategic Value Fund, Inc.

In planning and performing our audit of the financial statements of Cornerstone Strategic Value Fund, Inc. (the “Fund”) as of and for the year ended December 31, 2023, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Fund’s internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

The management of the Fund is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A fund’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles (GAAP). A fund’s internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the fund; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with GAAP, and that receipts and expenditures of the fund are being made only in accordance with authorizations of management and directors of the fund; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a fund’s assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the Fund’s annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Fund’s internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Fund’s internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2023.

This report is intended solely for the information and use of management and the Board of Directors of the Fund and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ COHEN & COMPANY, LTD.

COHEN & COMPANY, LTD.

Cleveland, Ohio

February 14, 2024