Company: CLM
Filing Date: 2025-04-08
Form Type: N-2/A
Source: 0001398344-25-006812
Chunk: 111

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-08
Form: N-2/A
Chunk 111
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 tax-exempt organization;                                                                                             |
| ● | a                                                                                                                    
 person holding shares as part of a hedging, integrated or conversion transaction, a constructive sale or a straddle; |
| ● | a                                                                                                                    
 trader in securities that has elected the mark-to-market method of accounting for its securities;                    |
| ● | a                                                                                                                    
 person liable for alternative minimum tax;                                                                           |
| ● | a                                                                                                                    
 partnership or other pass-through entity for U.S. federal income tax purposes; or                                    |
| ● | a                                                                                                                    
 U.S. Holder whose “functional currency” is not the U.S. dollar.                                                      |

If an entity treated as a partnership for U.S. federal
income tax purposes holds shares, the U.S. federal income tax treatment of a partner in the partnership will generally depend upon the
status of the partner and the activities of the partnership. A Stockholder that is a partnership and partners in such partnership should
consult their own tax advisors regarding the U.S. federal income tax consequences of holding and disposing of the shares.

Prospective U.S. Holders are urged to consult their
tax advisors as to the particular tax consequences of purchasing, owning and disposing of the shares, including the application of U.S.
federal, state and local tax laws.

Taxation as a Regulated Investment Company

The Fund intends to elect to be treated and to qualify
each year as a regulated investment company (a “RIC”) under the Code. Accordingly, the Fund must, among other things, (i)
derive in each taxable year at least 90% of its gross income (including tax-exempt interest) from (a) dividends, interest, payments with
respect to certain securities loans, and gains from the sale or other disposition of stock, securities or foreign currencies, or other
income (including but not limited to gain from forward contracts) derived with respect to its business of investing in such stock, securities
or currencies; and (b) net income from interests in “qualified publicly traded partnerships” (as defined in the Code); (ii)
diversify its holdings so that, at the end of each quarter of each taxable year (a) at least 50% of the value of the Fund’s total
assets is represented by cash and cash items, U.S. government securities, the securities of other regulated investment companies and
other securities, with such other securities limited, in respect of any one issuer, to an amount not greater than 5% of the