0001398344-17-006627.txt : 20170519 0001398344-17-006627.hdr.sgml : 20170519 20170519102954 ACCESSION NUMBER: 0001398344-17-006627 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20170331 FILED AS OF DATE: 20170519 DATE AS OF CHANGE: 20170519 EFFECTIVENESS DATE: 20170519 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CORNERSTONE STRATEGIC VALUE FUND INC CENTRAL INDEX KEY: 0000814083 IRS NUMBER: 133407699 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-05150 FILM NUMBER: 17856712 BUSINESS ADDRESS: STREET 1: C/O AST FUND SOLUTIONS STREET 2: 48 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 BUSINESS PHONE: 866-668-6558 MAIL ADDRESS: STREET 1: C/O AST FUND SOLUTIONS STREET 2: 48 WALL STREET CITY: NEW YORK STATE: NY ZIP: 10005 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-Q 1 fp0025196_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: March 31, 2017

Item 1. Schedule of Investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.

SCHEDULE OF INVESTMENTS - MARCH 31, 2017 (UNAUDITED)

Description	No. of Shares		Value
EQUITY SECURITIES - 99.49%
CLOSED-END FUNDS - 41.23%
CONVERTIBLE SECURITIES - 0.01%
Ellsworth Growth and Income Fund Ltd.		4,137	$	35,702

CORE - 10.89%
Adams Diversified Equity Fund, Inc.		569,599		7,831,986
General American Investors Company, Inc.		254,871		8,540,727
Liberty All-Star Equity Fund		1,374,249		7,503,400
Royce Micro-Cap Trust, Inc.		414,995		3,481,808
Royce Value Trust		481,161		6,736,254
Source Capital, Inc.		33,764		1,268,176
Sprott Focus Trust, Inc.		85,068		628,653
Tri-Continental Corporation		229,226		5,299,705
Zweig Fund, Inc. (The)		76,175		847,066
				42,137,775
DEVELOPED MARKET - 0.71%
Aberdeen Australia Equity Fund, Inc.		104,880		635,573
Aberdeen Japan Equity Fund, Inc.		8,645		68,728
Aberdeen Singapore Fund, Inc.		43,801		473,051
European Equity Fund, Inc. (The)		3,604		29,985
Japan Smaller Capitalization Fund, Inc.		55,256		598,975
Morgan Stanley Asia-Pacific Fund, Inc.		26,278		403,367
New Germany Fund, Inc. (The)		30,521		450,795
New Ireland Fund, Inc. (The)		7,928		100,368
				2,760,842
EMERGING MARKETS - 5.35%
Aberdeen Chile Fund, Inc.		132,794		925,574
Aberdeen Indonesia Fund, Inc.		31,369		226,798
Aberdeen Latin America Equity Fund, Inc.		7,426		174,660
Central Europe, Russia and Turkey Fund, Inc. (The )		18,274		382,475
China Fund, Inc. (The)		74,827		1,242,128
First Trust/Aberdeen Emerging Opportunity Fund		23,184		353,788
India Fund, Inc. (The)		141,745		3,600,323
Latin American Discovery Fund, Inc. (The)		1,600		16,864
Mexico Equity & Income Fund Inc.		23,799		258,219
Mexico Fund, Inc. (The)		8,400		137,760
Morgan Stanley China A Share Fund, Inc.		322,042		6,189,647
Morgan Stanley Emerging Markets Fund, Inc.		65,967		973,013
Morgan Stanley India Investment Fund, Inc.		30,668		966,655
Taiwan Fund, Inc. (The) *		8,223		149,988
Templeton Dragon Fund, Inc.		144,224		2,709,969
Templeton Emerging Markets Fund		92,416		1,295,672
Turkish Investment Fund, Inc. (The)		62,365		519,500
Voya Emerging Markets High Dividend Equity Fund		65,782		568,356
				20,691,389
ENERGY MLP - 0.30%
Cohen & Steers Infrastructure Fund, Inc.		36,058		777,050
Neuberger Berman MLP Income Fund Inc.		37,100		375,823

See accompanying notes to schedule of investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.

SCHEDULE OF INVESTMENTS - MARCH 31, 2017 (UNAUDITED)

Description	No. of Shares			Value
			$	1,152,873
GLOBAL - 5.67%
Alpine Global Dynamic Dividend Fund		112,893		1,101,836
Alpine Global Total Dynamic Dividend Fund		934,742		7,720,981
Clough Global Opportunities Fund		417,435		4,295,406
Delaware Enhanced Global Dividend and Income Fund		117,682		1,293,325
Gabelli Global Small and Mid Cap Value Trust (The)		65,441		745,373
Gabelli Multimedia Trust Inc. (The)		13,466		108,671
GDL Fund (The)		228,293		2,248,686
Lazard Global Total Return and Income Fund, Inc.		23,633		354,259
Lazard World Dividend & Income Fund, Inc.		26,226		279,307
Royce Global Value Trust, Inc.		156,388		1,374,651
Wells Fargo Advantage Global Dividend Opportunity Fund		411,580		2,395,396
				21,917,891
GLOBAL INCOME - 0.72%
Legg Mason BW Global Income Opportunities Fund Inc.		218,390		2,791,024

INCOME & PREFERRED STOCK - 1.58%
Calamos Strategic Total Return Fund		277,721		3,099,373
LMP Capital and Income Fund Inc.		210,354		2,993,337
				6,092,710
NATURAL RESOURCES - 4.83%
Adams Natural Resources Fund, Inc.		386,559		7,506,976
BlackRock Energy and Resources Trust		39,628		544,885
BlackRock Resources & Commodities Strategy Trust		1,237,650		10,643,790
				18,695,651
OPTION ARBITRAGE/OPTIONS STRATEGIES - 2.69%
AllianzGI NFJ Dividend, Interest & Premium Strategy Fund		486,623		6,272,570
BlackRock Global Opportunities Equity Trust		51,183		634,669
Eaton Vance Risk-Managed Diversified Equity Income Fund		39,534		358,969
Voya Asia Pacific High Dividend Equity Income Fund		166,101		1,684,264
Voya Global Equity Dividend and Premium Opportunity Fund		195,675		1,436,255
				10,386,727
PACIFIC EX JAPAN - 0.52%
Aberdeen Greater China Fund, Inc.		73,592		772,716
Asia Pacific Fund, Inc. (The)		29,207		357,202
Korea Fund, Inc. (The)		14,286		526,439
Thai Fund, Inc. (The)		40,543		347,454
				2,003,811
REAL ESTATE - 4.81%
Alpine Global Premier Properties Fund		760,252		4,348,641
CBRE Clarion Global Real Estate Income Fund		959,364		7,166,449
Cohen & Steers Preferred Securities and Income Fund, Inc.		229,634		4,436,529
RMR Real Estate Income Fund		127,145		2,670,044
				18,621,663
SECTOR EQUITY - 0.78%
First Trust Specialty Finance and Financial Opportunities Fund		5,902		43,911
Gabelli Healthcare & Wellness^Rx Trust		112,303		1,123,030
GAMCO Natural Resources, Gold & Income Trust		67,390		467,687

See accompanying notes to schedule of investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.

SCHEDULE OF INVESTMENTS - MARCH 31, 2017 (UNAUDITED)

Description	No. of Shares		Value
Nuveen Real Asset Income and Growth Fund	70,548	$	1,214,837
Tekla Healthcare Opportunities Fund	10,463		182,056
			3,031,521
UTILITY - 2.37%
Brookfield Global Listed Infrastructure Income Fund Inc.	129,427		1,708,436
Duff & Phelps Global Utility Income Fund Inc.	247,342		4,021,781
Gabelli Global Utility & Income Trust (The)	60,072		1,117,339
Macquarie Global Infrastructure Total Return Fund Inc.	101,233		2,313,174
			9,160,730

TOTAL CLOSED-END FUNDS			159,480,309

CONSUMER DISCRETIONARY - 7.12%
Amazon.com, Inc. *	9,000		7,978,860
Carnival Corporation	5,000		294,550
Chipotle Mexican Grill, Inc. *	1,000		445,520
Delphi Automotive PLC	6,000		482,940
Ford Motor Company	86,200		1,003,368
General Motors Company	24,000		848,640
Home Depot, Inc. (The)	23,600		3,465,188
Lowe's Companies, Inc.	8,000		657,680
Mattel, Inc.	7,000		179,270
McDonald's Corporation	19,700		2,553,317
Newell Brands Inc.	10,000		471,700
NIKE, Inc.	20,000		1,114,600
Omnicom Group Inc.	2,000		172,420
Starbucks Corporation	25,000		1,459,750
Target Corporation	11,300		623,647
Twenty-First Century Fox, Inc.	5,000		158,900
Twenty-First Century Fox, Inc. - Class A	24,000		777,360
V.F. Corporation	9,000		494,730
Viacom, Inc. - Class B	10,000		466,200
Walt Disney Company (The)	34,200		3,877,938
			27,526,578
CONSUMER STAPLES - 5.96%
Archer-Daniels-Midland Company	9,000		414,360
Clorox Company (The)	1,000		134,830
Coca-Cola Company (The)	47,643		2,021,969
Colgate-Palmolive Company	10,000		731,900
ConAgra Foods, Inc.	7,500		302,550
General Mills, Inc.	3,900		230,139
Kellogg Company	8,700		631,707
Kimberly-Clark Corporation	7,300		960,899
Kraft Heinz Company (The)	4,000		363,240
Molson Coors Brewing Company	2,000		191,420
Monster Beverage Corporation *	12,000		554,040
PepsiCo, Inc.	20,900		2,337,874
Philip Morris International Inc.	29,000		3,274,100
Procter & Gamble Company (The)	56,000		5,031,600

See accompanying notes to schedule of investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.

SCHEDULE OF INVESTMENTS - MARCH 31, 2017 (UNAUDITED)

Description	No. of Shares		Value
Reynolds American Inc.	27,000	$	1,701,540
Wal-Mart Stores, Inc.	57,900		4,173,432
			23,055,600
ENERGY - 4.27%
Anadarko Petroleum Corporation	3,500		217,000
Baker Hughes Incorporated	9,000		538,380
Chevron Corporation	28,200		3,027,834
Concho Resources Inc. *	2,500		320,850
Enbridge Inc.	4,723		197,610
EOG Resources, Inc.	8,600		838,930
Exxon Mobil Corporation	77,936		6,391,531
Occidental Petroleum Corporation	14,400		912,384
ONEOK, Inc.	4,400		243,936
Phillips 66	7,987		632,730
Pioneer Natural Resources Company	3,000		558,690
Schlumberger Limited	30,000		2,343,000
Williams Companies, Inc. (The)	10,000		295,900
			16,518,775
EXCHANGE-TRADED FUND - 1.23%
iShares Core S&P 500 ETF	20,000		4,745,400

FINANCIALS - 7.67%
Aflac Incorporated	6,000		434,520
Allstate Corporation (The)	8,000		651,920
American Express Company	10,000		791,100
Aon plc	5,000		593,450
Bank of America Corporation	98,300		2,318,897
Bank of New York Mellon Corporation (The)	18,500		873,755
BB&T Corporation	9,000		402,300
Berkshire Hathaway Inc. - Class B *	34,000		5,667,120
Chubb Limited	10,000		1,362,500
Citigroup Inc.	47,000		2,811,540
CME Group Inc.	6,000		712,800
Fifth Third Bancorp	12,000		304,800
Franklin Resources, Inc.	15,000		632,100
Goldman Sachs Group, Inc. (The)	11,000		2,526,920
Loews Corporation	4,000		187,080
MetLife, Inc.	25,500		1,346,910
Morgan Stanley	32,000		1,370,880
State Street Corporation	10,000		796,100
Travelers Companies, Inc. (The)	4,000		482,160
Wells Fargo & Company	96,800		5,387,888
			29,654,740
HEALTH CARE - 8.12%
Abbott Laboratories	37,000		1,643,170
Allergan plc	4,400		1,051,248
Amgen Inc.	7,000		1,148,490
Anthem, Inc.	7,000		1,157,660
Baxter International Inc.	12,000		622,320

See accompanying notes to schedule of investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.

SCHEDULE OF INVESTMENTS - MARCH 31, 2017 (UNAUDITED)

Description	No. of Shares		Value
Bristol-Myers Squibb Company	34,000	$	1,848,920
Cardinal Health, Inc.	3,000		244,650
Cigna Corporation	5,000		732,450
Eli Lilly and Company	18,000		1,513,980
Gilead Sciences, Inc.	12,000		815,040
Johnson & Johnson	61,700		7,684,735
McKesson Corporation	3,000		444,780
Medtronic Plc	28,000		2,255,680
Merck & Company, Inc.	52,267		3,321,045
Mylan N.V. *	7,000		272,930
Pfizer Inc.	119,500		4,088,095
Stryker Corporation	8,000		1,053,200
Thermo Fisher Scientific Inc.	10,000		1,536,000
			31,434,393
INDUSTRIALS - 5.92%
3M Company	13,000		2,487,290
Caterpillar Inc.	12,000		1,113,120
Cummins Inc.	4,000		604,800
Danaher Corporation	17,000		1,454,010
Deere & Company	10,000		1,088,600
Emerson Electric Co.	14,000		838,040
Eaton Corporation plc	9,000		667,350
Fortive Corporation	6,500		391,430
General Electric Company	220,000		6,556,000
PACCAR Inc	7,000		470,400
Raytheon Company	5,000		762,500
United Parcel Service, Inc. - Class B	17,000		1,824,100
United Technologies Corporation	20,800		2,333,968
Union Pacific Corporation	17,000		1,800,640
Waste Management, Inc.	7,000		510,440
			22,902,688
INFORMATION TECHNOLOGY - 13.21%
Activision Blizzard, Inc.	9,400		468,684
Alphabet Inc. - Class A *	2,000		1,695,600
Alphabet Inc. - Class C *	16,005		13,277,108
Apple Inc.	65,000		9,337,900
Cisco Systems, Inc.	64,000		2,163,200
Cognizant Technology Solutions Corporation	6,000		357,120
Corning Incorporated	22,900		618,300
Intel Corporation	69,300		2,499,651
International Business Machines	24,000		4,179,360
Microsoft Corporation	156,000		10,274,160
Oracle Corporation	77,272		3,447,104
PayPal Holdings, Inc. *	20,000		860,400
QUALCOMM Incorporated	28,000		1,605,520
Symantec Corporation	10,400		319,072
			51,103,179
MATERIALS - 1.74%
Air Products & Chemicals, Inc.	5,000		676,450

See accompanying notes to schedule of investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.

SCHEDULE OF INVESTMENTS - MARCH 31, 2017 (UNAUDITED)

Description	No. of Shares		Value
Dow Chemical Company (The)	29,500	$	1,874,430
E. I. du Pont de Nemours and Company	17,000		1,365,610
Freeport-McMoRan Inc.	25,000		334,000
Monsanto Company	5,000		566,000
Newmont Mining Corporation	10,500		346,080
Nucor Corporation	7,200		429,984
PPG Industries, Inc.	3,000		315,240
Praxair, Inc.	7,000		830,200
			6,737,994
REAL ESTATE - 0.17%
American Tower Corporation	4,000		486,160
Weyerhaeuser Company	5,000		169,900
			656,060
TELECOMMUNICATION SERVICES - 1.57%
AT&T, Inc.	87,568		3,638,451
Verizon Communications, Inc.	50,000		2,437,500
			6,075,951
UTILITIES - 1.28%
American Electric Power Company, Inc.	4,200		281,946
CenterPoint Energy, Inc.	2,800		77,196
Consolidated Edison, Inc.	2,000		155,320
Dominion Resources, Inc.	10,000		775,700
Duke Energy Corporation	13,300		1,090,733
Exelon Corporation	8,900		320,222
NextEra Energy, Inc.	6,000		770,220
PG&E Corporation	4,000		265,440
PPL Corporation	6,000		224,340
Public Service Enterprises Group, Inc.	6,500		288,275
Sempra Energy	2,000		221,000
Southern Company (The)	6,500		323,570
Xcel Energy Inc.	4,000		177,800
			4,971,762
TOTAL EQUITY SECURITIES (cost - $357,158,875)			384,863,429

SHORT-TERM INVESTMENT - 0.95%
MONEY MARKET FUND - 0.95%
Fidelity Institutional Money Market Government Portfolio - Class I, 0.56%^ (cost - $3,645,525)	3,645,525		3,645,525

TOTAL INVESTMENTS - 100.44% (cost - $360,804,400)			388,508,954

LIABILITIES IN EXCESS OF OTHER ASSETS - (0.44)%			(1,683,992	)

NET ASSETS - 100.00%		$	386,824,962

*	Non-income producing security.

^	The rate shown is the 7-day effective yield as of March 31, 2017.

See accompanying notes to schedule of investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.

NOTES TO SCHEDULE OF INVESTMENTS

MARCH 31, 2017 (UNAUDITED)

Federal Income Tax Cost: The following information is computed on a tax basis for each item as of March 31, 2017:

Cost of portfolio investments	$	362,251,422
Gross unrealized appreciation	$	34,052,006
Gross unrealized depreciation		(7,794,474	)
Net unrealized appreciation	$	26,257,532

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 March 31, 2017 in valuing the Fund's investments carried at value:

VALUATION INPUTS	INVESTMENTS IN SECURITIES		OTHER FINANCIAL INSTRUMENTS*

Level 1 – Quoted Prices
Equity Investments	$	384,863,429	$	-
Short-Term Investments		3,645,525		-
Level 2 – Other Significant Observable Inputs		-		-
Level 3 – Significant Unobservable Inputs		-		-
Total	$	388,508,954	$	-

*	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 March 31, 2017, 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 March 31, 2017.

In October 2016, the U.S. Securities and Exchange Commission adopted new rules and amended existing rules (together, final rules) intended to modernize the reporting and disclosure of information by registered investment companies. In part, the final rules amend Regulation S-X and require standardized, enhanced disclosures about derivatives in investment company financial statements, as well as other amendments. The compliance date for the amendments to Regulation S-X is August 1, 2017. Although still evaluating the potential impact to the Fund, management does not expect these changes to have an effect on the Fund.

In December 2016, the FASB released an Accounting Standards Update (“ASU”) that makes technical changes to various sections of the Accounting Standards Codification (“ASC”), including Topic 820, Fair Value Measurement. The changes to Topic 820 are intended to clarify the difference between a valuation approach and a valuation technique. The changes to ASC 820-10-50-2 require a reporting entity to disclose, for Level 2 and Level 3 fair value measurements, a change in either or both a valuation approach and a valuation technique and the reason(s) for the change. The changes to Topic 820 are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2016. Management has evaluated the implications of ASU 820-10-50-2 and does not expect the adoption of the ASU to have an effect on the Fund.

The Fund is exposed to financial market risks, including the valuations of its investment portfolio. During the three months ended March 31, 2017, 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 2, 2017 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.

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	May 19, 2017

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	May 19, 2017

By (Signature and Title)*		/s/ Frank J. Maresca
		Frank J. Maresca, Treasurer (Principal Financial Officer)

Date	May 19, 2017

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

EX-99.CERT 2 fp0025196_ex99cert.htm

CERTIFICATIONS

I, Ralph W. Bradshaw, certify that:

1. I have reviewed this report on Form N-Q of Cornerstone Strategic Value Fund, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, 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;

(c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and

(d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 19, 2017	/s/ Ralph W. Bradshaw
	Ralph W. Bradshaw, Chairman and President (Principal Executive Officer)

CERTIFICATIONS

I, Frank J. Maresca, certify that:

1. I have reviewed this report on Form N-Q of Cornerstone Strategic Value Fund, Inc.;

(b) Designed such internal control over financial reporting, or caused such control over financial reporting to be designed under our supervision, 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;

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: May 19, 2017	/s/ Frank J. Maresca
	Frank J. Maresca, Treasurer (Principal Financial Officer)