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, New York
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, 2015

Item 1. Schedule of Investments.
 
CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - MARCH 31, 2015 (Unaudited)
 
Description
  
No. of Shares
    
Value
  
EQUITY SECURITIES - 98.98%
  
   
 
CLOSED-END FUNDS - 45.88%
  
         
CONVERTIBLE SECURITIES - 0.06%
  
AllianzGI Equity & Convertible Income Fund
    
4,800
     $
95,088
  
                 
CORE - 5.29%
  
Adams Express Company (The)
    
76,571
      
1,068,931
  
Advent/Claymore Enhanced Growth & Income Fund
    
16,821
      
158,454
  
Gabelli Equity Trust Inc.
    
525,412
      
3,415,178
  
Guggenheim Enhanced Equity Strategy Fund
    
35,287
      
620,698
  
Liberty All-Star Equity Fund
    
371,068
      
2,167,037
  
Source Capital, Inc.
    
3,525
      
258,382
  
Tri-Continental Corporation
    
40,353
      
875,257
  
             
8,563,937
  
DEVELOPED MARKET - 2.38%
  
Aberdeen Australia Equity Fund, Inc.
    
278,030
      
1,987,915
  
Aberdeen Israel Fund, Inc.
    
2,400
      
42,144
  
Aberdeen Japan Equity Fund, Inc. (The)
    
23,892
      
193,525
  
Aberdeen Singapore Fund, Inc.
    
14,709
      
167,094
  
Japan Smaller Capitalization Fund, Inc.
    
2,400
      
23,856
  
Swiss Helvetia Fund, Inc. (The)
    
125,000
      
1,442,500
  
             
3,857,034
  
EMERGING MARKETS - 4.86%
  
Aberdeen Chile Fund, Inc.
    
13,100
      
97,988
  
Mexico Fund, Inc. (The)
    
8,418
      
180,734
  
Morgan Stanley China A Share Fund, Inc.
    
170,100
      
5,599,692
  
Turkish Investment Fund, Inc. (The)
    
17,500
      
168,000
  
Voya Emerging Markets High Dividend Equity Fund
    
181,404
      
1,833,994
  
             
7,880,408
  
EMERGING MARKETS DEBT - 1.73%
  
Global High Income Fund Inc.
    
159,378
      
1,394,557
  
Western Asset Emerging Markets Income Fund Inc.
    
111,805
      
1,242,154
  
Western Asset Worldwide Income Fund Inc.
    
14,796
      
167,787
  
             
2,804,498
  
ENERGY MLP - 0.36%
  
ClearBridge Energy MLP Opportunity Fund Inc.
    
10,000
      
209,600
  
ClearBridge Energy MLP Total Return Fund Inc.
    
18,600
      
369,582
  
             
579,182
  
GENERAL & INSURED LEVERAGED - 0.11%
  
Invesco Value Municipal Income Trust
    
0
      
6
  
Nuveen Dividend Advantage Municipal Fund 3
    
11,509
      
163,313
  
Nuveen Dividend Advantage Municipal Income Fund
    
1,302
      
18,892
  
             
182,211
  
GENERAL BOND - 1.45%
  
Deutsche Multi-Market Income Trust
    
196,905
      
1,665,816
  
Deutsche Strategic Income Trust
    
58,024
      
681,782
  
             
2,347,598
  
GLOBAL - 3.46%
  
Alpine Global Total Dynamic Dividend Fund
    
119,900
      
1,068,309
  
 
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - MARCH 31, 2015 (Unaudited)
 
Description
  
No. of Shares
    
Value
  
Clough Global Allocation Fund
    
44,250
     $
668,175
  
Clough Global Opportunities Fund
    
37,734
      
470,166
  
Delaware Enhanced Global Dividend and Income Fund
    
131,334
      
1,506,401
  
GDL Fund (The)
    
135,251
      
1,398,495
  
John Hancock Hedged Equity & Income Trust
    
21,600
      
354,672
  
Voya Infrastructure, Industrials and Materials Fund
    
9,500
      
146,680
  
             
5,612,898
  
GROWTH FUNDS - 0.49%
  
Liberty All-Star Growth Fund, Inc.
    
4,249
      
22,095
  
Nuveen Global Value Opportunities Fund
    
60,000
      
773,400
  
             
795,495
  
                 
HIGH YIELD - 0.10%
  
Credit Suisse Asset Management Income Fund, Inc.
    
31,750
      
101,918
  
Western Asset Managed High Income Fund Inc.
    
12,227
      
63,214
  
 
            
165,132
  
HIGH CURRENT YIELD (LEVERAGED) - 1.54%
  
BlackRock Corporate High Yield Fund VI, Inc.
    
33,800
      
377,208
  
BlackRock Debt Strategies Fund, Inc.
    
232,600
      
867,598
  
Deutsche High Income Opportunities Fund, Inc.
    
46,481
      
667,467
  
First Trust Strategic High Income Fund II
    
1,151
      
16,367
  
Neuberger Berman High Yield Strategies Fund Inc.
    
46,181
      
569,874
  
             
2,498,514
  
LOAN PARTICIPATION - 0.15%
  
Nuveen Credit Strategies Income Fund
    
27,092
      
245,183
  
 
                
NATURAL RESOURCES - 2.85%
  
BlackRock Resources & Commodities Strategy Trust
    
482,242
      
4,610,233
  
 
                
OPTION ARBITRAGE/OPTIONS STRATEGIES - 6.18%
  
AllianzGI NFJ Dividend, Interest & Premium Strategy Fund
    
178,371
      
2,911,015
  
BlackRock Global Opportunities Equity Trust
    
265,058
      
3,679,005
  
Eaton Vance Risk-Managed Diversified Equity Income Fund
    
303,400
      
3,282,788
  
Voya Global Equity Dividend and Premium Opportunity Fund
    
16,400
      
136,448
  
 
            
10,009,256
  
PACIFIC EX JAPAN - 0.02%
  
Aberdeen Greater China Fund, Inc.
    
800
      
8,216
  
Morgan Stanley Thai Fund, Inc.
    
1,610
      
14,039
  
 
            
22,255
  
REAL ESTATE - 13.57%
  
Alpine Global Premier Properties Fund
    
496,009
      
3,392,702
  
CBRE Clarion Global Real Estate Income Fund
    
549,136
      
4,914,767
  
Cohen & Steers Preferred Securities and Income Fund, Inc.
    
138,015
      
2,684,392
  
Cohen & Steers Quality Income Realty Fund, Inc.
    
403,284
      
5,008,787
  
Cohen & Steers Total Return Realty Fund, Inc.
    
175,495
      
2,402,527
  
Neuberger Berman Real Estate Securities Income Fund Inc.
    
379,693
      
2,057,936
  
Nuveen Real Estate Income Fund
    
14,733
      
175,617
  
RMR Real Estate Income Fund
    
63,887
      
1,357,599
  
             
21,994,327
  
 
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - MARCH 31, 2015 (Unaudited)
 
Description
  
No. of Shares
    
Value
  
SECTOR EQUITY - 0.83%
  
Gabelli Healthcare & WellnessRx Trust (The)
    
51,746
     $
582,660
  
John Hancock Financial Opportunities Fund 
    
32,553
      
761,740
  
 
            
1,344,400
  
UTILITY - 0.45%
  
Cohen & Steers Infrastructure Fund, Inc.
    
13,500
      
306,720
  
Duff & Phelps Global Utility Income Fund Inc.
    
9,600
      
189,600
  
Gabelli Global Utility & Income Trust (The)
    
12,778
      
236,904
  
             
733,224
  
 
                
TOTAL CLOSED-END FUNDS
            
74,340,873
  
                 
CONSUMER DISCRETIONARY - 6.84%
                
Comcast Corporation - Class A
    
27,655
      
1,561,678
  
Delphi Automotive PLC
    
3,000
      
239,220
  
DIRECTV *
    
5,000
      
425,500
  
Ford Motor Company
    
20,000
      
322,800
  
Gap, Inc. (The)
    
4,000
      
173,320
  
Home Depot, Inc. (The)
    
19,600
      
2,226,756
  
Johnson Controls, Inc.
    
8,500
      
428,740
  
Lowe's Companies, Inc.
    
4,000
      
297,560
  
Macy's, Inc.
    
6,000
      
389,460
  
News Corporation - Class B *
    
1,250
      
19,838
  
Time Inc.
    
1,362
      
30,563
  
Time Warner Cable Inc.
    
2,000
      
299,760
  
Time Warner Inc.
    
10,900
      
920,396
  
TJX Companies, Inc. (The)
    
14,000
      
980,700
  
Twenty-First Century Fox, Inc.
    
5,000
      
164,400
  
Viacom Inc. - Class B
    
3,950
      
269,785
  
Walt Disney Company (The)
    
22,200
      
2,328,558
  
 
            
11,079,034
  
CONSUMER STAPLES - 4.91%
                
Archer-Daniels-Midland Company
    
8,000
      
379,200
  
Costco Wholesale Corporation
    
5,000
      
757,475
  
CVS Caremark Corporation
    
10,430
      
1,076,480
  
Kellogg Company
    
5,000
      
329,750
  
Kraft Foods Group, Inc.
    
4,000
      
348,460
  
Kroger Co. (The)
    
7,000
      
536,620
  
Mondelēz International, Inc. - Class A
    
14,000
      
505,260
  
Walgreens Boots Alliance, Inc.
    
10,000
      
846,800
  
Wal-Mart Stores, Inc.
    
38,700
      
3,183,075
  
 
            
7,963,120
  
ENERGY - 4.48%
                
ConocoPhillips
    
13,974
      
870,021
  
Devon Energy Corporation
    
7,000
      
422,170
  
EOG Resources, Inc.
    
7,000
      
641,830
  
Exxon Mobil Corporation
    
39,936
      
3,394,560
  
Phillips 66
    
7,487
      
588,478
  
Schlumberger Limited
    
12,000
      
1,001,280
  
Valero Energy Corporation
    
5,000
      
318,100
  
WPX Energy, Inc. *
    
1,666
      
18,209
  
 
            
7,254,648
  
 
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - MARCH 31, 2015 (Unaudited)
 
Description
  
No. of Shares
    
Value
  
EXCHANGE-TRADED FUNDS - 0.64%
  
   
 
SPDR S&P 500 ETF Trust
    
5,000
     $
1,032,150
  
 
                
FINANCIALS - 7.99%
                
ACE Limitied
    
4,000
      
445,960
  
AFLAC, Inc.
    
5,500
      
352,055
  
American Express Company
    
5,000
      
390,600
  
Ameriprise Financial, Inc.
    
2,000
      
261,680
  
Aon plc
    
5,500
      
528,660
  
Berkshire Hathaway Inc. - Class B *
    
11,000
      
1,587,520
  
BlackRock, Inc. - Class A
    
1,500
      
548,760
  
Capital One Financial Corporation
    
4,500
      
354,690
  
Fifth Third Bancorp
    
11,500
      
216,775
  
Franklin Resources, Inc.
    
5,000
      
256,600
  
JPMorgan Chase & Co.
    
34,132
      
2,067,717
  
MetLife, Inc.
    
14,000
      
707,700
  
Morgan Stanley
    
23,000
      
820,870
  
PNC Financial Services Group, Inc. (The)
    
8,000
      
745,920
  
Principal Financial Group, Inc.
    
4,000
      
205,480
  
Prudential Financial, Inc.
    
6,000
      
481,860
  
SunTrust Banks, Inc.
    
6,000
      
246,540
  
Travelers Companies, Inc. (The)
    
4,000
      
432,520
  
Wells Fargo & Company
    
37,800
      
2,056,320
  
Weyerhaeuser Company
    
7,000
      
232,050
  
 
            
12,940,277
  
HEALTH CARE - 7.51%
                
Abbott Laboratories
    
13,200
      
611,556
  
AbbVie Inc.
    
13,200
      
772,728
  
Actavis plc *
    
3,657
      
1,088,501
  
Aetna Inc.
    
5,000
      
532,650
  
Amgen Inc.
    
9,800
      
1,566,530
  
Anthem, Inc.
    
4,500
      
694,845
  
Baxter International Inc.
    
7,000
      
479,500
  
Biogen Idec Inc. *
    
2,000
      
844,480
  
Cigna Corporation
    
2,500
      
323,600
  
Express Scripts Holding Company *
    
6,000
      
520,620
  
Johnson & Johnson
    
13,000
      
1,307,800
  
McKesson Corporation
    
1,800
      
407,160
  
Merck & Company, Inc.
    
35,267
      
2,027,147
  
St. Jude Medical, Inc.
    
5,000
      
327,000
  
Thermo Fisher Scientific Inc.
    
5,000
      
671,700
  
 
            
12,175,817
  
INDUSTRIALS - 5.50%
                
Caterpillar Inc.
    
8,000
      
640,240
  
CSX Corporation
    
12,000
      
397,440
  
Deere & Company
    
6,500
      
569,985
  
Delta Air Lines, Inc.
    
9,000
      
404,640
  
General Electric Company
    
104,000
      
2,580,240
  
Honeywell International Inc.
    
10,000
      
1,043,100
  
 
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - MARCH 31, 2015 (Unaudited)
 
Description
  
No. of Shares
    
Value
  
Lockheed Martin Corporation
    
4,000
     $
811,840
  
Norfolk Southern Corporation
    
3,000
      
308,760
  
Northrop Grumman Corporations
    
2,000
      
321,920
  
Precision Castparts Corporation
    
2,000
      
420,000
  
Union Pacific Corporation
    
13,000
      
1,408,030
  
 
            
8,906,195
  
INFORMATION TECHNOLOGY - 10.59%
                
Apple Inc.
    
48,300
      
6,009,969
  
Cisco Systems, Inc.
    
40,000
      
1,101,000
  
Cognizant Technology Solutions Corporation *
    
10,000
      
623,900
  
eBay Inc. *
    
6,000
      
346,080
  
Facebook, Inc. *
    
11,000
      
904,365
  
Google Inc. - Class A *
    
2,000
      
1,109,400
  
Google Inc. - Class C *
    
2,000
      
1,096,000
  
Intel Corporation
    
46,000
      
1,438,420
  
International Business Machines Corporation
    
13,100
      
2,102,550
  
Oracle Corporation
    
56,272
      
2,428,137
  
 
            
17,159,821
  
MATERIALS - 1.77%
                
Air Products & Chemicals, Inc.
    
2,000
      
302,560
  
Dow Chemical Company (The)
    
15,000
      
719,700
  
Ecolab Inc.
    
2,500
      
285,950
  
International Paper Company
    
4,000
      
221,960
  
LyondellBasell Industries N.V.
    
4,000
      
351,200
  
PPG Industries, Inc.
    
2,000
      
451,080
  
Praxair, Inc.
    
4,500
      
543,330
  
 
            
2,875,780
  
TELECOMMUNICATION SERVICES - 1.56%
                
AT&T, Inc.
    
25,039
      
817,523
  
Verizon Communications, Inc.
    
35,000
      
1,702,050
  
 
            
2,519,573
  
UTILITIES - 1.31%
                
AES Corporation (The)
    
8,000
      
102,800
  
Exelon Corporation
    
10,000
      
336,100
  
NextEra Energy, Inc.
    
6,000
      
624,300
  
PG&E Corporation
    
6,000
      
318,420
  
PPL Corporation
    
6,000
      
201,960
  
Public Service Enterprises Group, Inc.
    
6,500
      
272,480
  
Southern Company (The)
    
3,000
      
132,840
  
Xcel Energy Inc.
    
4,000
      
139,240
  
 
            
2,128,140
  
TOTAL EQUITY SECURITIES (cost - $133,449,604)
            
160,375,428
  
 
                
SHORT-TERM INVESTMENTS - 1.06%
                
MONEY MARKET FUNDS - 1.06%
                
Fidelity Institutional Money Market Government Portfolio - Class I, 0.01%^ (cost - $1,717,215)
    
1,717,215
      
1,717,215
  
 
                
TOTAL INVESTMENTS - 100.04% (cost - $135,166,819)
            
162,092,643
  
 
See accompanying notes to schedule of investments.
CORNERSTONE STRATEGIC VALUE FUND, INC.
SCHEDULE OF INVESTMENTS - MARCH 31, 2015 (Unaudited)
 
Description
No. of Shares
    
Value
  
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.04)%
 
   $
(61,365
)
 
 
        
NET ASSETS - 100.00%
 
  
$
162,031,278
  
 
* Non-income producing security.      
^ The rate shown is the 7-day effective yield as of March 31, 2015.      
 
See accompanying notes to schedule of investments.

CORNERSTONE STRATEGIC VALUE FUND, INC.
NOTES TO SCHEDULE OF INVESTMENTS
MARCH 31, 2015 (UNAUDITED)

Federal Income Tax Cost: The following information is computed on a tax basis for each item as of March 31, 2015:

Cost of portfolio investments
  
$
135,353,908
  
Gross unrealized appreciation
  
$
29,376,930
  
Gross unrealized depreciation
    
(2,638,195
)
Net unrealized appreciation
  
$
26,738,735
  

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, 2015 in valuing the Fund's investments carried at value:

 
 
VALUATION INPUTS
  
INVESTMENTS
IN
SECURITIES
    
OTHER FINANCIAL INSTRUMENTS*
  
         
Level 1 – Quoted Prices
        
Equity Investments
  
$
160,375,428
    
$
-
  
Short-Term Investments
    
1,717,215
      
-
  
Level 2 – Other Significant Observable Inputs
    
-
      
-
  
Level 3 – Significant Unobservable Inputs
    
-
      
-
  
Total
  
$
162,092,643
    
$
-
  

* 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, 2015, 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, 2015.

The Fund is exposed to financial market risks, including the valuations of its investment portfolio. During the three months ended March 31, 2015, 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 February 24, 2015 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 29, 2015
    
       
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 29, 2015
    
       
By (Signature and Title)*
/s/ Frank J. Maresca
  
   
Frank J. Maresca, Treasurer
(Principal Financial Officer)
  
       
Date
May 29, 2015
    

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