Cornerstone Total Return Fund (CRF) NPORT-P Cornerstone Total Return Fund, Inc. (Sep 2022 report)

CORNERSTONE TOTAL RETURN FUND, INC. 

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)

Description	No. of Shares		Value
EQUITY SECURITIES - 99.35%
CLOSED-END FUNDS - 11.63%
CONVERTIBLE SECURITIES - 0.08%
Virtus Equity & Convertible Income Fund		24,000	$	487,440
CORE - 0.79%
General American Investors Company, Inc.		148,262		5,018,669
DEVELOPED MARKET - 0.24%
First Trust Dynamic Europe Equity Income Fund		27,292		260,366
Japan Smaller Capitalization Fund, Inc.		198,770		1,164,792
New Germany Fund, Inc. (The)		16,400		114,144
				1,539,302
DIVERSIFIED EQUITY - 0.95%
Adams Diversified Equity Fund, Inc.		398,555		5,806,946
Royce Micro-Cap Trust, Inc.		38,400		304,512
				6,111,458
EMERGING MARKETS - 0.26%
Mexico Fund, Inc. (The)		11,500		149,845
Morgan Stanley India Investment Fund, Inc.		64,224		1,494,492
				1,644,337
ENERGY MLP FUNDS - 2.05%
ClearBridge Energy Midstream Opportunity Fund Inc.		93,530		2,339,185
ClearBridge MLP and Midstream Fund Inc.		120,527		3,591,706
ClearBridge MLP and Midstream Total Return Fund Inc.		63,520		1,671,211
First Trust MLP and Energy Income Fund		215,401		1,540,117
Goldman Sachs MLP and Energy Renaissance Fund		95,982		1,151,784
Kayne Anderson NextGen Energy & Infrastructure, Inc.		228,377		1,614,625
Neuberger Berman MLP and Energy Income Fund Inc.		194,144		1,188,161
				13,096,789
GLOBAL - 0.17%
Gabelli Global Small and Mid Cap Value Trust (The)		21,437		204,295
GDL Fund (The)		110,081		871,841
				1,076,136
INCOME & PREFERRED STOCK - 0.11%
LMP Capital and Income Fund Inc.		65,191		734,703

CORNERSTONE TOTAL RETURN FUND, INC. 

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)(Continued)

Description		No. of Shares		Value
NATURAL RESOURCES - 0.50%
Adams Natural Resources Fund, Inc.			34,208	$	665,688
Cushing® NextGen Infrastructure Income Fund (The)	��		27,417		1,005,656
First Trust Energy Infrastructure Fund			112,157		1,495,052
					3,166,396
OPTION ARBITRAGE/OPTIONS STRATEGIES - 0.80%
BlackRock Enhanced International Dividend Trust			50,000		223,500
Virtus Dividend, Interest & Premium Strategy Fund			458,969		4,901,789
					5,125,289
REAL ESTATE - 0.09%
Nuveen Real Estate Income Fund			73,374		567,181
SECTOR EQUITY - 5.59%
BlackRock Health Sciences Trust II			833,419		12,442,946
BlackRock Innovation and Growth Trust			2,030,264		14,760,018
Gabelli Healthcare & WellnessRx Trust (The)			26,546		252,187
GAMCO Natural Resources, Gold & Income Trust			93,421		384,895
Neuberger Berman Next Generation Connectivity Fund Inc.			407,511		3,846,904
Nuveen Real Asset Income and Growth Fund			141,957		1,582,821
Tekla Life Sciences Investors			13,500		184,410
Virtus Artificial Intelligence & Technology Opportunity Fund			144,968		2,258,601
					35,712,782
TOTAL CLOSED-END FUNDS					74,280,482
COMMUNICATION SERVICES - 8.31%
Alphabet Inc. - Class C *			248,000		23,845,200
Charter Communications, Inc. - Class A *			5,300		1,607,755
Comcast Corporation - Class A			187,500		5,499,375
Meta Platforms, Inc. - Class A *			48,000		6,512,640
Netflix, Inc. *			16,000		3,767,040
T-Mobile US, Inc. *			54,700		7,339,099
Twitter, Inc. *			24,000		1,052,160
Verizon Communications Inc.			4,700		178,459

CORNERSTONE TOTAL RETURN FUND, INC. 

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)(Continued)

Description	No. of Shares		Value
COMMUNICATION SERVICES - 8.31% (Continued)
Walt Disney Company (The) *		35,000	$	3,301,550
				53,103,278
CONSUMER DISCRETIONARY - 12.09%
Amazon.com, Inc. *		264,000		29,832,000
Booking Holdings Inc. *		1,500		2,464,815
Dollar General Corporation		7,000		1,679,020
eBay Inc.		20,000		736,200
Ford Motor Company		160,000		1,792,000
General Motors Company		51,000		1,636,590
Hilton Worldwide Holdings Inc.		10,000		1,206,200
Home Depot, Inc. (The)		7,600		2,097,144
Lowe's Companies, Inc.		26,000		4,883,060
Marriott International, Inc. - Class A		10,000		1,401,400
McDonald's Corporation		2,100		484,554
NIKE, Inc. - Class B		50,000		4,156,000
O'Reilly Automotive, Inc. *		2,500		1,758,375
Starbucks Corporation		35,000		2,949,100
Target Corporation		15,000		2,225,850
Tesla, Inc. *		57,000		15,119,250
TJX Companies, Inc. (The)		45,000		2,795,400
				77,216,958
CONSUMER STAPLES - 4.92%
Coca-Cola Company (The)		150,600		8,436,612
Constellation Brands, Inc. - Class A		7,000		1,607,760
Costco Wholesale Corporation		20,200		9,539,854
Estée Lauder Companies Inc. (The) - Class A		7,000		1,511,300
Monster Beverage Corporation *		16,000		1,391,360
PepsiCo, Inc.		24,500		3,999,870
Philip Morris International Inc.		47,800		3,967,878
Procter & Gamble Company (The)		1,500		189,375
Walgreens Boots Alliance, Inc.		20,000		628,000
Walmart Inc.		1,400		181,580
				31,453,589
ENERGY - 2.53%
Chevron Corporation		17,700		2,542,959
ConocoPhillips		33,700		3,448,858

CORNERSTONE TOTAL RETURN FUND, INC. 

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)(Continued)

Description	No. of Shares		Value
ENERGY - 2.53% (Continued)
Devon Energy Corporation		22,000	$	1,322,860
EOG Resources, Inc.		2,900		324,017
Exxon Mobil Corporation		22,100		1,929,551
Kinder Morgan, Inc. - Class P		75,000		1,248,000
Marathon Petroleum Corporation		13,800		1,370,754
Occidental Petroleum Corporation		22,700		1,394,915
Pioneer Natural Resources Company		8,500		1,840,505
Schlumberger Limited		2,500		89,750
Valero Energy Corporation		5,800		619,730
				16,131,899
EXCHANGE-TRADED FUNDS - 2.97%
Energy Select Sector SPDR® Fund (The)		30,000		2,160,600
Invesco QQQ TrustSM, Series 1		20,000		5,345,200
iShares Core S&P 500 ETF		12,000		4,303,800
Technology Select Sector SPDR® Fund (The)		60,000		7,126,800
				18,936,400
FINANCIALS - 9.77%
American Express Company		12,000		1,618,920
Aon plc - Class A		8,000		2,142,960
Bank of America Corporation		250,000		7,550,000
Bank of New York Mellon Corporation (The)		15,000		577,800
Berkshire Hathaway Inc. - Class B *		55,000		14,686,100
Charles Schwab Corporation (The)		60,000		4,312,200
Citigroup Inc.		70,000		2,916,900
Goldman Sachs Group, Inc. (The)		8,000		2,344,400
JPMorgan Chase & Co.		87,000		9,091,500
Moody's Corporation		6,000		1,458,660
Morgan Stanley		50,100		3,958,401
Progressive Corporation (The)		22,000		2,556,620
S&P Global Inc.		13,000		3,969,550
Wells Fargo & Company		130,000		5,228,600
				62,412,611
HEALTH CARE - 13.60%
Abbott Laboratories		26,300		2,544,788
AbbVie Inc.		42,500		5,703,925
Anthem, Inc.		9,000		4,088,160

CORNERSTONE TOTAL RETURN FUND, INC. 

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)(Continued)

Description	No. of Shares		Value
HEALTH CARE - 13.60% (Continued)
Biogen Inc. *		6,000	$	1,602,000
Boston Scientific Corporation *		42,000		1,626,660
Bristol-Myers Squibb Company		119,500		8,495,255
Centene Corporation *		18,000		1,400,580
Cigna Corporation		12,000		3,329,640
CVS Health Corporation		40,000		3,814,800
Danaher Corporation		33,700		8,704,373
Eli Lilly and Company		12,400		4,009,540
Elevance Health, Inc.		9,000		4,088,160
Gilead Sciences, Inc.		25,000		1,542,250
HCA Healthcare, Inc.		9,000		1,654,110
Humana Inc.		4,000		1,940,760
IQVIA Holdings Inc. *		7,000		1,267,980
Johnson & Johnson		8,700		1,421,232
McKesson Corporation		5,000		1,699,350
Merck & Co., Inc.		58,200		5,012,184
Pfizer Inc.		39,800		1,741,648
Thermo Fisher Scientific Inc.		7,400		3,753,206
UnitedHealth Group Incorporated		38,600		19,494,544
Vertex Pharmaceuticals Incorporated *		7,000		2,026,780
				86,873,765
INDUSTRIALS - 5.62%
Boeing Company (The) *		22,000		2,663,760
Caterpillar Inc.		10,000		1,640,800
Cintas Corporation		3,000		1,164,570
CSX Corporation		90,000		2,397,600
FedEx Corporation		7,000		1,039,290
General Dynamics Corporation		7,000		1,485,190
Honeywell International Inc.		31,500		5,259,555
Lockheed Martin Corporation		10,000		3,862,900
Norfolk Southern Corporation		11,000		2,306,150
Raytheon Technologies Corporation		3,800		311,068
Southwest Airlines Co. *		24,000		740,160
TransDigm Group Incorporated		2,000		1,049,640
Union Pacific Corporation		26,000		5,065,320
United Parcel Service, Inc. - Class B		28,000		4,523,120

CORNERSTONE TOTAL RETURN FUND, INC.

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)(Continued)

Description	No. of Shares		Value
INDUSTRIALS - 5.62% (Continued)
Waste Management, Inc.		15,000	$	2,403,150
				35,912,273
INFORMATION TECHNOLOGY - 22.32%
Adobe Inc. *		18,000		4,953,600
Advanced Micro Devices, Inc. *		51,000		3,231,360
Apple Inc.		277,000		38,281,400
Applied Materials, Inc.		18,000		1,474,740
Autodesk, Inc. *		8,000		1,494,400
Broadcom Inc.		7,100		3,152,471
Cisco Systems, Inc.		43,000		1,720,000
Fidelity National Information Services, Inc.		21,000		1,586,970
Fiserv, Inc. *		21,000		1,964,970
HP Inc.		14,000		348,880
Intel Corporation		146,000		3,762,420
Intuit Inc.		9,000		3,485,880
Lam Research Corporation		5,000		1,830,000
Mastercard Incorporated - Class A		28,000		7,961,520
Micron Technology, Inc.		40,000		2,004,000
Microsoft Corporation		140,000		32,606,001
NVIDIA Corporation		90,800		11,022,212
Oracle Corporation		25,000		1,526,750
PayPal Holdings, Inc. *		35,000		3,012,450
QUALCOMM Incorporated		22,000		2,485,560
Roper Technologies, Inc.		4,000		1,438,560
Salesforce.com, Inc. *		35,000		5,034,400
Visa, Inc. - Class A		46,000		8,171,900
				142,550,444
MATERIALS - 2.19%
Air Products and Chemicals, Inc.		6,000		1,396,380
Ball Corporation		7,000		338,240
Corteva, Inc.		36,300		2,074,545
DuPont de Nemours, Inc.		15,000		756,000
Ecolab Inc.		300		43,326
Freeport-McMoRan Inc.		57,500		1,571,475
International Flavors & Fragrances Inc.		7,000		635,810
Linde plc		19,000		5,122,210

CORNERSTONE TOTAL RETURN FUND, INC.

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)(Continued)

Description	No. of Shares		Value
MATERIALS - 2.19% (Continued)
Newmont Corporation		24,000	$	1,008,720
Nucor Corporation		10,000		1,069,900
				14,016,606
REAL ESTATE - 1.82%
American Tower Corporation		18,000		3,864,600
AvalonBay Communities, Inc.		6,000		1,105,140
CBRE Group, Inc. - Class A *		13,000		877,630
Crown Castle Inc.		2,200		318,010
Digital Realty Trust, Inc.		10,000		991,800
Equinix, Inc.		3,000		1,706,520
Prologis, Inc.		1,500		152,400
Public Storage		5,000		1,464,050
SBA Communications Corporation - Class A		4,000		1,138,600
				11,618,750
UTILITIES - 1.58%
American Electric Power Company, Inc.		8,300		717,535
American Water Works Company, Inc.		5,000		650,800
Consolidated Edison, Inc.		14,000		1,200,640
Constellation Energy Corporation		8,433		701,541
Dominion Energy, Inc.		3,300		228,063
Duke Energy Corporation		2,200		204,644
Exelon Corporation		40,300		1,509,638
NextEra Energy, Inc.		21,500		1,685,815
Public Service Enterprise Group Incorporated		2,700		151,821
Sempra Energy		12,000		1,799,280
Southern Company (The)		18,500		1,258,000
				10,107,777
TOTAL EQUITY SECURITIES (cost - $659,210,845)				634,614,832

CORNERSTONE TOTAL RETURN FUND, INC.

SCHEDULE OF INVESTMENTS - SEPTEMBER 30, 2022 (Unaudited)(Continued)

Description	No. of Shares		Value
SHORT-TERM INVESTMENT - 0.50%
MONEY MARKET FUND - 0.50%
Fidelity Institutional Money Market Government Portfolio  - Class I 2.74%^ (cost - $3,186,095)		3,186,095	$	3,186,095
TOTAL INVESTMENTS – 99.85% (cost - $662,396,940)				637,800,927
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.15%				938,084
NET ASSETS - 100.00%			$	638,739,011

*	Non-income producing security.
^	The rate shown is the 7-day effective yield as of September 30, 2022.

plc Public Limited Company.