Company: CLM
Filing Date: 2025-08-26
Form Type: N-CSRS
Source: 0001398344-25-016665
Chunk: 11

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-08-26
Form: N-CSRS
Chunk 11
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2025, certain officers of the Fund are also officers of Cornerstone or Ultimus Fund Solutions, LLC (“Ultimus”). Such officers are paid no fees by the Fund for serving as officers of the Fund.

Investment Management Agreement

Cornerstone serves as the Fund’s Investment Manager with respect to all investments. As compensation for its investment management services, Cornerstone receives from the Fund an annual fee, calculated weekly and paid monthly, equal to 1.00% of the Fund’s average weekly net assets. For the six months ended June 30, 2025, Cornerstone earned $8,446,421 for investment management services.

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| Cornerstone Strategic Investment Fund, Inc.           
 Notes to Financial Statements (Unaudited) (concluded) |

Fund Accounting and Administration Agreement

Under the fund accounting and administration agreement with the Fund, Ultimus is responsible for generally managing the administrative affairs of the Fund, including supervising the preparation of reports to stockholders, reports to and filing with the Securities and Exchange Commission (“SEC”) and materials for meetings of the Board.

Ultimus is also responsible for calculating the net asset value per share and maintaining the financial books and records of the Fund. Ultimus is entitled to receive a fee in accordance with the agreements. For the six months ended June 30, 2025, Ultimus earned $346,132 as fund accounting agent and administrator.

NOTE E. INVESTMENT IN SECURITIES

For the six months ended June 30, 2025, purchases and sales of securities, other than short-term investments, were $288,030,979 and $219,244,965, respectively.

NOTE F. SHARES OF COMMON STOCK

The Fund has 800,000,000 shares of common stock authorized and 283,889,641 shares issued and outstanding at June 30, 2025. Transactions in common stock for the six months ended June 30, 2025, were as follows:

| Shares at beginning of period                                |     | 248,400,965 |
| Shares newly issued from rights offering                     |     |  26,164,941 |
| Shares issued in reinvestment of dividends and distributions |     |   9,323,735 |
| Shares at end of period                                      |     | 283,889,641 |

NOTE G. FEDERAL INCOME TAXES

Income and capital gains distributions are determined in accordance with federal income tax regulations, which may differ from GAAP. These differences are primarily