Company: CLM
Filing Date: 2025-03-04
Form Type: N-CSR
Source: 0001398344-25-004655
Chunk: 11

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-03-04
Form: N-CSR
Chunk 11
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 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 year ended December 31, 2024, Cornerstone earned $16,943,070 for investment management services.

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 filings 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 year ended December 31, 2024, Ultimus earned $709,799 as fund accounting agent and administrator.

NOTE E. INVESTMENT IN SECURITIES

For the year ended December 31, 2024, purchases and sales of securities, other than short-term investments, were $376,400,502 and $565,395,114, respectively.

| 19 |

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

NOTE F. SHARES OF COMMON STOCK

The Fund has 800,000,000 shares of common stock authorized and 248,400,965 shares issued and outstanding at December 31, 2024. Transactions in common stock for the year ended December 31, 2024, were as follows:

| Shares at beginning of year                                  |     | 233,479,117 |
| Shares newly issued from rights offering                     |     |           — |
| Shares issued in reinvestment of dividends and distributions |     |  14,921,848 |
| Shares at end of year                                        |     | 248,400,965 |

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 due to differing treatments of losses deferred due to wash sales.

The tax character of dividends and distributions paid to stockholders during the years ended December 31, 2024 and December 31, 2023 was as follows:

|                         |     |   | December 31, 
         2024 |     |