0001752724-20-238730.txt : 20201120 0001752724-20-238730.hdr.sgml : 20201120 20201120161014 ACCESSION NUMBER: 0001752724-20-238730 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200930 FILED AS OF DATE: 20201120 PERIOD START: 20201231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORNERSTONE TOTAL RETURN FUND INC CENTRAL INDEX KEY: 0000033934 IRS NUMBER: 132727013 STATE OF INCORPORATION: NY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-02363 FILM NUMBER: 201332580 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: EIS FUND INC DATE OF NAME CHANGE: 20020109 FORMER COMPANY: FORMER CONFORMED NAME: EXCELSIOR INCOME SHARES INC DATE OF NAME CHANGE: 19920703 NPORT-P 1 primary_doc.xml NPORT-P false 0000033934 XXXXXXXX Cornerstone Total Return Fund, Inc. 811-02363 0000033934 5493000TUAHPA5P8NM98 225 Pictoria Drive Suite 450 Cincinnati 45246 513-587-3400 Cornerstone Total Return Fund, Inc. 5493000TUAHPA5P8NM98 2020-12-31 2020-09-30 N 380067719.17 2695902.91 377371816.26 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0 N Aberdeen Japan Equity Fund Inc 549300TENE1BGI09O157 Aberdeen Japan Equity Fund, Inc. 00306J109 14588.00000000 NS USD 120715.70000000 0.031988530886 Long EC RF US N 1 N N N Royce Micro-Cap Trust, Inc. 254900D3WFIV4SD8EF19 Royce Micro-Cap Trust, Inc. 780915104 319308.00000000 NS USD 2449092.36000000 0.648986557679 Long EC RF US N 1 N N N The Sherwin-Williams Company Z15BMIOX8DDH0X2OBP21 Sherwin-Williams Company (The) 824348106 2000.00000000 NS USD 1393480.00000000 0.369259160318 Long EC CORP US N 1 N N N Gabelli Dividend & Income Trust 549300082N1MHBT8NI60 Gabelli Dividend & Income Trust 36242H104 148492.00000000 NS USD 2724828.20000000 0.722053975043 Long EC RF US N 1 N N N BlackRock, Inc. 549300LRIF3NWCU26A80 BlackRock, Inc. 09247X101 4000.00000000 NS USD 2254200.00000000 0.597341906012 Long EC CORP US N 1 N N N First Trust/Dynamic Europe Equity Income Fund 549300YG1NBZKURU8L08 First Trust/Dynamic Europe Equity Income Fund 33740D107 81263.00000000 NS USD 816693.15000000 0.216416042431 Long EC RF US N 1 N N N Truist Financial Corporation 549300DRQQI75D2JP341 Truist Financial Corporation 89832Q109 32000.00000000 NS USD 1217600.00000000 0.322652606139 Long EC CORP US N 1 N N N Autodesk Inc FRKKVKAIQEF3FCSTPG55 Autodesk, Inc. 052769106 5000.00000000 NS USD 1155050.00000000 0.306077441460 Long EC CORP US N 1 N N N Voya Global Advantage and Premium Opportunity Fund 549300P8MCGWLP88NI42 Voya Global Advantage and Premium Opportunity Fund 92912R104 7000.00000000 NS USD 58380.00000000 0.015470153701 Long EC RF US N 1 N N N Marsh & McLennan Companies, Inc. 549300XMP3KDCKJXIU47 Marsh & McLennan Companies, Inc. 571748102 12000.00000000 NS USD 1376400.00000000 0.364733120146 Long EC CORP US N 1 N N N McKesson Corporation 549300WZWOM80UCFSF54 McKesson Corporation 58155Q103 4000.00000000 NS USD 595720.00000000 0.157860225467 Long EC CORP US N 1 N N N JPMorgan Chase & Co. 8I5DZWZKVSZI1NUHU748 JPMorgan Chase & Company 46625H100 26000.00000000 NS USD 2503020.00000000 0.663276877644 Long EC CORP US N 1 N N N American Water Works Company, Inc. 549300DXHIJQMD5WFW18 American Water Works Company, Inc. 030420103 5000.00000000 NS USD 724400.00000000 0.191959221326 Long EC CORP US N 1 N N N Deere & Company PWFTNG3EI0Y73OXWDH08 Deere & Company 244199105 11000.00000000 NS USD 2437930.00000000 0.646028636733 Long EC CORP US N 1 N N N Taiwan Fund Inc 549300B0OHIYIAWV0Z83 Taiwan Fund, Inc. 874036106 6822.00000000 NS USD 157110.66000000 0.041632854715 Long EC RF US N 1 N N N Clough Global Opportunities Fund 549300DTG68UBCNCPY15 Clough Global Opportunities Fund 18914E106 39000.00000000 NS USD 364260.00000000 0.096525491386 Long ABS-CBDO RF US N 1 N N N Apple Inc. 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(The) 153436100 23277.00000000 NS USD 457160.28000000 0.121143196259 Long EC RF US N 1 N N N Cintas Corporation 549300QVUQTTKMTE0G41 Cintas Corporation 172908105 3000.00000000 NS USD 998490.00000000 0.264590506491 Long EC CORP US N 1 N N N Nvidia Corp 549300S4KLFTLO7GSQ80 Nvidia Corp 67066G104 14000.00000000 NS USD 7577080.00000000 2.007855296427 Long EC CORP US N 1 N N N DexCom Inc 549300YSK3QDSFR5EU59 DexCom, Inc. 252131107 2000.00000000 NS USD 824460.00000000 0.218474185001 Long EC CORP US N 1 N N N Verisk Analytics, Inc. 549300I1YSWNIRKBWP67 Verisk Analytics, Inc. 92345Y106 4000.00000000 NS USD 741240.00000000 0.196421663744 Long EC CORP US N 1 N N N Costco Wholesale Corporation 29DX7H14B9S6O3FD6V18 Costco Wholesale Corporation 22160K105 14000.00000000 NS USD 4970000.00000000 1.317003492538 Long EC CORP US N 1 N N N GAMCO Natural Resources, Gold & Income Trust 23EBEGZ81713Q1VCP222 Gamco Natural Resources, Gold & Income Trust GABELLI 36465E101 43460.00000000 NS USD 214692.40000000 0.056891476986 Long EC RF US N 1 N N N Edwards Lifesciences Corporation YA13X31F3V31L8TMPR58 Edwards Lifesciences Corporation 28176E108 15000.00000000 NS USD 1197300.00000000 0.317273296099 Long EC CORP US N 1 N N N The Kroger Co. 6CPEOKI6OYJ13Q6O7870 Kroger Company (The) 501044101 20000.00000000 NS USD 678200.00000000 0.179716653649 Long EC CORP US N 1 N N N MasterCard Incorporated AR5L2ODV9HN37376R084 Mastercard, Inc. Class A 57636Q104 10000.00000000 NS USD 3381700.00000000 0.896118855275 Long EC CORP US N 1 N N N Xcel Energy Inc LGJNMI9GH8XIDG5RCM61 Xcel Energy, Inc. 98389B100 14000.00000000 NS USD 966140.00000000 0.256018059211 Long EC CORP US N 1 N N N Public Service Enterprise Group Incorporated PUSS41EMO3E6XXNV3U28 Public Service Enterprise Group, Inc. 744573106 7000.00000000 NS USD 384370.00000000 0.101854453204 Long EC CORP US N 1 N N N Dow Inc 5493003S21INSLK2IP73 Dow, Inc. 260557103 14273.00000000 NS USD 671544.65000000 0.177953048178 Long EC CORP US N 1 N N N Pfizer Inc. 765LHXWGK1KXCLTFYQ30 Pfizer, Inc. 717081103 80000.00000000 NS USD 2936000.00000000 0.778012525974 Long EC CORP US N 1 N N N Gabelli Global Small and Mid Cap Value Trust 54930027RS7HE8UD3187 Gabelli Global Small and Mid Cap Value Trust (The) 36249W104 44108.00000000 NS USD 445049.72000000 0.117934011185 Long EC RF US N 1 N N N Royce Value Trust, Inc. 254900NJE1W1YYKNVM16 Royce Value Trust, Inc. 780910105 92000.00000000 NS USD 1162880.00000000 0.308152318189 Long EC RF US N 1 N N N Visa Inc 549300JZ4OKEHW3DPJ59 Visa, Inc. Class A 92826C839 20000.00000000 NS USD 3999400.00000000 1.059803575062 Long EC CORP US N 1 N N N Netflix, Inc. 549300Y7VHGU0I7CE873 Netflix, Inc. 64110L106 11000.00000000 NS USD 5500330.00000000 1.457535979902 Long EC CORP US N 1 N N N Alphabet Inc. 5493006MHB84DD0ZWV18 Alphabet, Inc. Class C 02079K107 7000.00000000 NS USD 10287200.00000000 2.726011736104 Long EC CORP US N 1 N N N Automatic Data Processing, Inc. HGBOLILQXWER4SAL2I23 Automatic Data Processing, Inc. 053015103 5000.00000000 NS USD 697450.00000000 0.184817723515 Long EC CORP US N 1 N N N Anthem Inc 8MYN82XMYQH89CTMTH67 Anthem, Inc. 036752103 6000.00000000 NS USD 1611540.00000000 0.427043019791 Long EC CORP US N 1 N N N Equinix, Inc. 549300EVUN2BTLJ3GT74 Equinix, Inc. REIT 29444U700 2200.00000000 NS USD 1672286.00000000 0.443140141352 Long EC CORP US N 1 N N N Berkshire Hathaway Inc. 5493000C01ZX7D35SD85 Berkshire Hathaway, Inc. Class B 084670702 23000.00000000 NS USD 4897620.00000000 1.297823469844 Long EC CORP US N 1 N N N Agilent Technologies Inc. QUIX8Y7A2WP0XRMW7G29 Agilent Technologies, Inc. 00846U101 7000.00000000 NS USD 706580.00000000 0.187237088080 Long EC CORP US N 1 N N N Nuveen Real Estate Income Fund, Inc. LXJVVL0330BRT3R7PH61 Nuveen Real Estate Income Fund 67071B108 69027.00000000 NS USD 521153.85000000 0.138100893480 Long EC RF US N 1 N N N Blackrock Enhanced Global Dividend U48QD6ILUF60LKMSND68 Blackrock Enhanced Global Dividend 092501105 84256.00000000 NS USD 806329.92000000 0.213669883456 Long EC RF US N 1 N N N State Street Corporation 549300ZFEEJ2IP5VME73 State Street Corporation 857477103 9000.00000000 NS USD 533970.00000000 0.141497053301 Long EC CORP US N 1 N N N Monster Beverage Corp 52990090AP0E7HCB6F33 Monster Beverage Corporation 61174X109 14000.00000000 NS USD 1122800.00000000 0.297531493243 Long EC CORP US N 1 N N N ClearBridge MLP & Midstream Total Return Fund, Inc. 549300FO806NCJW4RO34 ClearBridge MLP & Midstream Total Return Fund, Inc. 18469Q207 5640.00000000 NS USD 56456.40000000 0.014960417701 Long EC RF US N 1 N N N eBay Inc. OML71K8X303XQONU6T67 eBay, Inc. 278642103 16000.00000000 NS USD 833600.00000000 0.220896199472 Long EC CORP US N 1 N N N Trane Technologies Plc 549300BURLR9SLYY2705 Trane Technologies plc G8994E103 8000.00000000 NS USD 970000.00000000 0.257040923091 Long EC CORP US N 1 N N N General Dynamics Corporation 9C1X8XOOTYY2FNYTVH06 General Dynamics Corporation 369550108 7000.00000000 NS USD 969010.00000000 0.256778582355 Long EC CORP US N 1 N N N 2020-11-20 Susan Conti Susan Conti Susan Conti Senior Fund Accounting Manager XXXX NPORT-EX 2 crfnport.htm CRF EX

 

CORNERSTONE TOTAL RETURN FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2020 (Unaudited)
 
Description No. of Shares Value
EQUITY SECURITIES - 99.49%    
CLOSED-END FUNDS - 16.07%    
CORE - 2.44%    
General American Investors Company, Inc. 199,062   $ 6,758,156  
Royce Micro-Cap Trust, Inc. 319,308   2,449,092  
    9,207,248  
DEVELOPED MARKET - 0.37%    
Aberdeen Japan Equity Fund, Inc. 14,588   120,716  
First Trust Dynamic Europe Equity Income Fund 81,263   816,693  
Japan Smaller Capitalization Fund, Inc. 54,257   470,408  
    1,407,817  
DIVERSIFIED EQUITY - 1.66%    
Gabelli Dividend & Income Trust (The) 148,492   2,724,828  
Guggenheim Enhanced Equity Income Fund 271,920   1,481,964  
Nuveen Tax-Advantaged Total Return Strategy Fund 84,049   673,232  
Royce Value Trust, Inc. 92,000   1,162,880  
Sprott Focus Trust, Inc. 35,829   213,183  
    6,256,087  
EMERGING MARKETS - 2.49%    
Central and Eastern Europe Fund, Inc. (The) 23,277   457,160  
India Fund, Inc. (The) * 104,300   1,720,950  
Korea Fund, Inc. (The) 12,415   368,105  
Mexico Equity and Income Fund, Inc. (The) 5,335   41,079  
Mexico Fund, Inc. (The) 72,870   747,646  
Morgan Stanley China A Share Fund, Inc. 173,576   3,665,925  
Morgan Stanley India Investment Fund, Inc. * 127,964   2,220,176  
Taiwan Fund, Inc. (The) 6,822   157,111  
    9,378,152  
ENERGY MLP FUNDS - 1.11%    
ClearBridge Energy Midstream Opportunity Fund Inc. 12,638   110,835  
ClearBridge MLP and Midstream Fund Inc. 1,520   16,796  
ClearBridge MLP and Midstream Total Return Fund Inc. 5,640   56,456  
First Trust MLP and Energy Income Fund 56,534   262,318  
Goldman Sachs MLP and Energy Renaissance Fund 403,688   2,414,055  

 

 

See accompanying notes to schedule of investments.

 
 

 

CORNERSTONE TOTAL RETURN FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2020 (Unaudited)(Continued)
 
Description No. of Shares Value
ENERGY MLP FUNDS - 1.11% (Continued)    
Kayne Anderson Energy Infrastructure Fund, Inc. 140,529   $ 560,711  
Kayne Anderson NextGen Energy & Infrastructure, Inc. 16,383   66,023  
Neuberger Berman MLP and Energy Income Fund Inc. 301,948   718,636  
    4,205,830  
GLOBAL - 1.10%    
Clough Global Equity Fund 66,703   747,741  
Clough Global Opportunities Fund 39,000   364,260  
Gabelli Global Small and Mid Cap Value Trust (The) 44,108   445,050  
GDL Fund (The) 150,181   1,258,516  
John Hancock Hedged Equity & Income Fund 52,482   554,210  
Royce Global Value Trust, Inc. 18,100   222,268  
Wells Fargo Global Dividend Opportunity Fund 132,000   558,360  
    4,150,405  
INCOME & PREFERRED STOCK - 0.86%    
Calamos Long/Short Equity & Dynamic Income Trust 25,000   363,000  
LMP Capital and Income Fund Inc. 182,827   1,864,835  
Nuveen Tax-Advantaged Dividend Growth Fund 78,743   1,029,171  
    3,257,006  
NATURAL RESOURCES - 1.48%    
BlackRock Resources & Commodities Strategy Trust 687,555   4,090,952  
First Trust Energy Income and Growth Fund 117,539   1,064,903  
First Trust Energy Infrastructure Fund 43,990   393,711  
Tortoise Pipeline & Energy Fund, Inc. 2,000   23,880  
    5,573,446  
OPTION ARBITRAGE/OPTIONS STRATEGIES - 0.50%    
AllianzGI NFJ Dividend, Interest & Premium Strategy Fund 40,000   472,000  
BlackRock Enhanced Global Dividend Trust 84,256   806,330  
BlackRock Enhanced International Dividend Trust 44,000   231,880  
Voya Global Advantage and Premium Opportunity Fund 7,000   58,380  
Voya Global Equity Dividend and Premium Opportunity Fund 65,000   321,750  
    1,890,340  
REAL ESTATE - 2.25%    
Aberdeen Global Premier Properties Fund 426,003   1,963,874  
CBRE Clarion Global Real Estate Income Fund 1,005,915   6,015,371  

 

 

See accompanying notes to schedule of investments.

 
 

 

CORNERSTONE TOTAL RETURN FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2020 (Unaudited)(Continued)
 
Description No. of Shares Value
REAL ESTATE - 2.25% (Continued)    
Nuveen Real Estate Income Fund 69,027   $ 521,154  
    8,500,399  
SECTOR EQUITY - 0.47%    
Gabelli Healthcare & WellnessRx Trust (The) 84,649   873,578  
GAMCO Natural Resources, Gold & Income Trust 43,460   214,692  
Nuveen Real Asset Income and Growth Fund 55,896   674,106  
    1,762,376  
UTILITY - 1.34%    
Duff & Phelps Utility and Infrastructure Fund Inc. 270,814   2,794,800  
Macquarie Global Infrastructure Total Return Fund Inc. 122,469   2,149,331  
Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund 12,000   92,160  
    5,036,291  
     
TOTAL CLOSED-END FUNDS   60,625,397  
     
COMMUNICATION SERVICES - 9.20%    
Activision Blizzard, Inc. 18,000   1,457,100  
Alphabet Inc. - Class C * 7,000   10,287,200  
Charter Communications, Inc. - Class A * 5,300   3,309,002  
Comcast Corporation - Class A 158,000   7,309,080  
Electronic Arts Inc. * 7,000   912,870  
Netflix, Inc. * 11,000   5,500,330  
Verizon Communications Inc. 100,000   5,949,000  
    34,724,582  
CONSUMER DISCRETIONARY - 10.83%    
Amazon.com, Inc. * 10,700   33,691,411  
Dollar General Corporation 7,000   1,467,340  
eBay Inc. 16,000   833,600  
Lowe's Companies, Inc. 18,000   2,985,480  
Target Corporation 12,000   1,889,040  
    40,866,871  
CONSUMER STAPLES – 5.88%    
Clorox Company (The) 3,000   630,510  
Colgate-Palmolive Company 20,000   1,543,000  
Costco Wholesale Corporation 14,000   4,970,000  

 

 

See accompanying notes to schedule of investments.

 
 

 

CORNERSTONE TOTAL RETURN FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2020 (Unaudited)(Continued)
 
Description No. of Shares Value
CONSUMER STAPLES – 5.88% (Continued)    
General Mills, Inc. 15,000   $ 925,200  
Hormel Foods Corporation 14,000   684,460  
Kimberly-Clark Corporation 8,000   1,181,280  
Kroger Co. (The) 20,000   678,200  
McCormick & Company, Incorporated 3,000   582,300  
Monster Beverage Corporation * 14,000   1,122,800  
Procter & Gamble Company (The) 71,000   9,868,290  
    22,186,040  
EXCHANGE-TRADED FUND (ETF) - 1.36%    
Technology Select Sector SPDR® Fund (The) 44,000   5,134,800  
   
FINANCIALS - 5.85%    
Allstate Corporation (The) 8,000   753,120  
Bank of America Corporation 65,000   1,565,850  
Berkshire Hathaway Inc. - Class B * 23,000   4,897,620  
BlackRock, Inc. 4,000   2,254,200  
Intercontinental Exchange, Inc. 13,000   1,300,650  
JPMorgan Chase & Co. 26,000   2,503,020  
Marsh & McLennan Companies, Inc. 12,000   1,376,400  
Moody's Corporation 5,000   1,449,250  
Progressive Corporation (The) 14,000   1,325,380  
S&P Global Inc. 8,000   2,884,800  
State Street Corporation 9,000   533,970  
Truist Financial Corporation 32,000   1,217,600  
    22,061,860  
HEALTH CARE - 13.70%    
Abbott Laboratories 40,000   4,353,200  
AbbVie Inc. 44,000   3,853,960  
Agilent Technologies, Inc. 7,000   706,580  
Amgen Inc. 13,000   3,304,080  
Anthem, Inc. 6,000   1,611,540  
Baxter International Inc. 12,000   965,040  
Biogen Inc. * 4,000   1,134,720  
Cigna Corporation 9,000   1,524,690  
CVS Health Corporation 32,000   1,868,800  
DexCom, Inc. * 2,000   824,460  

 

 

See accompanying notes to schedule of investments.

 
 

 

CORNERSTONE TOTAL RETURN FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2020 (Unaudited)(Continued)
 
Description No. of Shares Value
HEALTH CARE - 13.70% (Continued)    
Edwards Lifesciences Corporation * 15,000   $ 1,197,300  
Eli Lilly and Company 11,000   1,628,220  
Gilead Sciences, Inc. 31,000   1,958,890  
Humana Inc. 3,000   1,241,670  
Johnson & Johnson 64,000   9,528,320  
McKesson Corporation 4,000   595,720  
Merck & Co., Inc. 30,000   2,488,500  
Pfizer Inc. 80,000   2,936,000  
Regeneron Pharmaceuticals, Inc. * 3,000   1,679,340  
Thermo Fisher Scientific Inc. 10,000   4,415,200  
Vertex Pharmaceuticals Incorporated * 7,000   1,904,840  
Zoetis Inc. 12,000   1,984,440  
    51,705,510  
INDUSTRIALS - 7.16%    
Cintas Corporation 3,000   998,490  
CSX Corporation 8,000   621,360  
Deere & Company 11,000   2,437,930  
Emerson Electric Co. 14,000   917,980  
Fastenal Company 14,000   631,260  
General Dynamics Corporation 7,000   969,010  
Honeywell International Inc. 11,000   1,810,710  
IHS Markit Ltd. 10,000   785,100  
Ingersoll Rand Inc. * 7,059   251,300  
Lockheed Martin Corporation 10,000   3,832,800  
Norfolk Southern Corporation 3,000   641,970  
Northrop Grumman Corporation 5,000   1,577,450  
Republic Services, Inc. 10,000   933,500  
Roper Technologies, Inc. 2,500   987,775  
Trane Technologies plc 8,000   970,000  
Union Pacific Corporation 8,000   1,574,960  
United Parcel Service, Inc. - Class B 28,600   4,765,618  
Verisk Analytics, Inc. 4,000   741,240  
Waste Management, Inc. 14,000   1,584,380  
    27,032,833  
INFORMATION TECHNOLOGY – 24.89%    
Accenture plc - Class A 18,000   4,067,820  

 

 

See accompanying notes to schedule of investments.

 
 

 

CORNERSTONE TOTAL RETURN FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2020 (Unaudited)(Continued)
 
Description No. of Shares Value
INFORMATION TECHNOLOGY – 24.89% (Continued)    
Adobe Inc. * 11,000   $ 5,394,730  
Apple Inc. 196,000   22,698,760  
Autodesk, Inc. * 5,000   1,155,050  
Automatic Data Processing, Inc. 5,000   697,450  
Fiserv, Inc. * 16,000   1,648,800  
Intel Corporation 100,000   5,178,000  
Mastercard Incorporated - Class A 10,000   3,381,700  
Microsoft Corporation 147,400   31,002,643  
NVIDIA Corporation 14,000   7,577,080  
Oracle Corporation 67,000   3,999,900  
Texas Instruments Incorporated 22,000   3,141,380  
Visa, Inc. - Class A 20,000   3,999,400  
    93,942,713  
MATERIALS - 1.40%    
Air Products and Chemicals, Inc. 7,000   2,085,020  
Dow Inc. 14,273   671,545  
Newmont Corporation 18,000   1,142,100  
Sherwin-Williams Company (The) 2,000   1,393,480  
    5,292,145  
REAL ESTATE - 1.16%    
Equinix, Inc. 2,200   1,672,286  
Prologis, Inc. 18,000   1,811,160  
SBA Communications Corporation 2,800   891,744  
    4,375,190  
UTILITIES - 1.99%    
American Water Works Company, Inc. 5,000   724,400  
Dominion Energy, Inc. 10,000   789,300  
Eversource Energy 8,000   668,400  
NextEra Energy, Inc. 7,000   1,942,920  
Public Service Enterprise Group Incorporated 7,000   384,370  
Sempra Energy 7,000   828,520  
Southern Company (The) 22,000   1,192,840  

 

 

See accompanying notes to schedule of investments.

 
 

 

CORNERSTONE TOTAL RETURN FUND, INC.
SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2020 (Unaudited)(Concluded)
 
Description No. of Shares Value
UTILITIES - 1.99% (Continued)    
Xcel Energy Inc. 14,000   $ 966,140  
    7,496,890  
     
TOTAL EQUITY SECURITIES (cost - $298,616,725)   375,444,831  
     
SHORT-TERM INVESTMENT - 0.69%    
MONEY MARKET FUND - 0.69%    
Fidelity Institutional Money Market Government Portfolio - Class I, 0.01% ^ (cost - $2,608,906) 2,608,906   2,608,906  
     
TOTAL INVESTMENTS - 100.18% (cost - $301,225,631) 378,053,737  
   
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.18%)     (681,921 )
   
NET ASSETS - 100.00% $ 377,371,816  
 
* Non-income producing security.
^ The rate shown is the 7-day effective yield as of September 30, 2020.

 

 

 

See accompanying notes to schedule of investments.

 
 

CORNERSTONE TOTAL RETURN FUND, INC.
NOTES TO SCHEDULE OF INVESTMENTS
September 30, 2020 (Unaudited)

 

 

Federal Income Tax Cost: The following information is computed on a tax basis for each item as of September 30, 2020:

Cost of portfolio investments    $          302,331,011
Gross unrealized appreciation    $             84,060,186
Gross unrealized depreciation                     (8,337,460)
Net unrealized appreciation    $             75,722,726

 

The difference between the federal income tax cost of portfolio investments and the Schedule of Investments cost for Cornerstone Total Return 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 September 30, 2020 in valuing the Fund's investments carried at value:

VALUTION INPUTS     INVESTMENTS IN SECURITIES   OTHER FINANCIAL INSTRUMENTS*
Level 1 - Quoted Prices          
  Equity Securities      $          375,444,831    $                                     -   
  Short-Term Investment                         2,608,906                                            -   
Level 2 - Other Significant Observable Inputs                                          -                                               -   
Level 3 - Significant Unobservable Inputs                                            -                                               -   
Total        $          378,053,737    $                                     -   

 

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

 
 

CORNERSTONE TOTAL RETURN 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 September 30, 2020.

The Fund is exposed to financial market risks, including the valuations of its investment portfolio. During the period ended September 30, 2020, 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 Form N-CSR on August 24, 2020 with a file number 811-02363.

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.cornerstonetotalreturnfund.com; or on the website of the Securities and Exchange Commission at www.sec.gov.