Company: CLM
Filing Date: 2025-04-08
Form Type: N-2/A
Source: 0001398344-25-006812
Chunk: 43

Company: Cornerstone Strategic Investment Fund, Inc.
Filing Date: 2025-04-08
Form: N-2/A
Chunk 43
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 considers numerous factors, including the economic
and political outlook, the value of the security relative to other investment alternatives, trends in the determinants of the issuer’s
profits, and the issuer’s management capability and practices.

Illiquid Securities

Illiquid securities are securities that are not readily
marketable. Illiquid securities include securities that have legal or contractual restrictions on resale, and repurchase agreements maturing
in more than seven days. Illiquid securities involve the risk that the securities will not be able to be sold at the time desired or
at prices approximating the value at which the Fund is carrying the securities. Where registration is required to sell a security, the
Fund may be obligated to pay all or part of the registration expenses, and a considerable period may elapse between the decision to sell
and the time the Fund may be permitted to sell a security under an effective registration statement. If, during such a period, adverse
market conditions were to develop, the Fund might obtain a less favorable price than prevailed when it decided to sell. The Fund may
invest up to 15% of the value of its net assets in illiquid securities. Restricted securities for which no market exists and other illiquid
investments are valued at fair value as determined in accordance with procedures approved and periodically reviewed by the Board of Directors.

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Rule 144A Securities

The Fund may invest in restricted securities that
are eligible for resale pursuant to Rule 144A under the Securities Act of 1933, as amended, (the “1933 Act”). Generally,
Rule 144A establishes a safe harbor from the registration requirements of the 1933 Act for resale by large institutional investors of
securities that are not publicly traded. The Investment Adviser determines the liquidity of the Rule 144A securities according to guidelines
adopted by the Board of Directors. The Board of Directors monitors the application of those guidelines and procedures. Securities eligible
for resale pursuant to Rule 144A, which are determined to be liquid, are not subject to the Fund’s 15% limit on investments in
illiquid securities.

Warrants

The Fund may invest in equity and index warrants
of domestic and international issuers. Equity warrants are securities that give the holder the right, but not the obligation, to subscribe
for equity issues of the issuing company or a related company at a fixed price either on a certain date or during a set period. Changes
in the value of a warrant do not necessarily correspond to changes in the value