# EDGAR Filing Document

**Accession Number:** 0001039667
**File Stem:** 0000910472-26-003290
**Filing Date:** 2026-2
**Character Count:** 37872
**Document Hash:** c403fe65f2e5276ff24201efee2fa1ff
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003290.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-003290

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SPIRIT OF AMERICA INVESTMENT FUND INC
- **CENTRAL INDEX KEY:** 0001039667

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08231
- **FILM NUMBER:** 26695120

**BUSINESS ADDRESS:**
- **STREET 1:** 477 JERICHO TURNPIKE
- **CITY:** SYOSSET
- **STATE:** NY
- **ZIP:** 11791
- **BUSINESS PHONE:** 5163905555

**MAIL ADDRESS:**
- **STREET 1:** 477 JERICHO TURNPIKE
- **CITY:** SYOSSET
- **STATE:** NY
- **ZIP:** 11791

## Series and Classes Contracts Data

### SPIRIT OF AMERICA REAL ESTATE INCOME AND GROWTH FUND (Series ID: S000001448)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000003855 | CLASS A              | SOAAX           |
| C000167226 | Class C              | SACRX           |
| C000219377 | Institutional Shares | SOIAX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Spirit of America Investment Fund, Inc.

- **b. Investment Company Act file number:** 811-08231

- **c. CIK number of Registrant:** 0001039667

- **d. LEI of Registrant:** 549300PJ84G8FJU36634

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 477 Jericho Turnpike

  - **City:** Syosset

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 11791

  - **Telephone number:** 516-390-5555

**Item A.2. Information about the Series.**

- **a. Name of Series:** SPIRIT OF AMERICA REAL ESTATE INCOME & GROWTH FUND

- **b. EDGAR series identifier (if any):** S000001448

- **c. LEI of Series:** 549300M8IIG0R36CBU02

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $65207472.06

**Total Liabilities:** $118247.05

**Net Assets:** $65089225.01

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003855 | -7.02%               | -3.80%               | -7.47%               |
| Class ID C000167226 | -2.87%               | 0.45%                | -3.38%               |
| Class ID C000219377 | -1.79%               | 1.58%                | -2.34%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $450838.07               | $-1759705.94                               |
| Month 2  | $718880.03               | $314215.10                                 |
| Month 3  | $576604.52               | $-2520829.40                               |

### Schedule of Portfolio Investments

| Name                                         | Title                                                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agree Realty Corp                            | Agree Realty Corporation                                            | CUSIP: 008492100<br>LEI: 98450090H010B37OEB68 | Long             | EC               | CORP              | US        |      8100 | NS      | $583443.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Alexandria Real Estate Equities, Inc.        | Alexandria Real Estate Equities, Inc.                               | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |      3000 | NS      | $146820.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | Amazon.com, Inc.                                                    | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      4750 | NS      | $1096395.00   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                        | American Homes 4 Rent                                               | CUSIP: 02665T306<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EC               | CORP              | US        |     36300 | NS      | $1165230.00   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| American Homes 4 Rent                        | American Homes 4 Rent                                               | CUSIP: 02665T876<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EP               | CORP              | US        |      2000 | NS      | $46180.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation                   | American Tower Corporation                                          | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      2970 | NS      | $521442.90    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Ashford Hospitality Trust Inc                | Ashford Hospitality Trust, Inc.                                     | CUSIP: 044103604<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      6000 | NS      | $81960.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| AvalonBay Communities, Inc.                  | AvalonBay Communities, Inc.                                         | CUSIP: 053484101<br>LEI: K9G90K85RBWD2LAGQX17 | Long             | EC               | CORP              | US        |     10890 | NS      | $1974465.90   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Mortgage Trust, Inc               | Blackstone Mortgage Trust, Inc.                                     | CUSIP: 09257W100<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | EC               | CORP              | US        |      2200 | NS      | $42086.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Inc                               | Blackstone, Inc.                                                    | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      2000 | NS      | $308280.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| BXP Inc                                      | BXP, Inc.                                                           | CUSIP: 101121101<br>LEI: 549300OF70FSEUQBT254 | Long             | EC               | CORP              | US        |      6915 | NS      | $466624.20    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Brixmor Property Group Inc                   | Brixmor Property Group, Inc.                                        | CUSIP: 11120U105<br>LEI: 5299007UXW6Y0W2EGZ95 | Long             | EC               | CORP              | US        |     41475 | NS      | $1087474.50   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Camden Property Trust                        | Camden Property Trust                                               | CUSIP: 133131102<br>LEI: 5493002MYX22OHYJBD89 | Long             | EC               | CORP              | US        |      6300 | NS      | $693504.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Caretrust Reit Inc                           | CareTrust REIT, Inc.                                                | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |      5000 | NS      | $180800.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Partners Lp                  | Cheniere Energy Partners, L.P.                                      | CUSIP: 16411Q101<br>LEI: 5493005UEC8AZ34LDV29 | Long             | EC               | CORP              | US        |      1613 | NS      | $86263.24     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| COPT Defense Properties                      | COPT Defense Properties                                             | CUSIP: 22002T108<br>LEI: YY1J47X6LF9TYY8JY420 | Long             | EC               | CORP              | US        |     12000 | NS      | $333600.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cousins Properties Inc.                      | Cousins Properties, Inc.                                            | CUSIP: 222795502<br>LEI: 5493007XPYD5EJABN062 | Long             | EC               | CORP              | US        |      6500 | NS      | $167570.00    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc.                            | Crown Castle, Inc.                                                  | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |      3690 | NS      | $327930.30    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CTO Realty Growth Inc New                    | CTO Realty Growth, Inc.                                             | CUSIP: 22948Q200<br>LEI: 254900ZQ99OFO1WXS678 | Long             | EP               | CORP              | US        |      2000 | NS      | $41000.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CubeSmart (Maryland)                         | CubeSmart                                                           | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18450 | NS      | $665122.50    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| D.R. Horton, Inc.                            | DR Horton, Inc.                                                     | CUSIP: 23331A109<br>LEI: 529900ZIUEYVSB8QDD25 | Long             | EC               | CORP              | US        |       800 | NS      | $115224.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc.                    | Digital Realty Trust, Inc.                                          | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     20031 | NS      | $3098996.01   | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc.                    | Digital Realty Trust, Inc.                                          | CUSIP: 253868855<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |      4000 | NS      | $82840.00     | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| DigitalBridge Group Inc                      | DigitalBridge Group, Inc.                                           | CUSIP: 25401T603<br>LEI: 549300XG87L902AGBO89 | Long             | EC               | CORP              | US        |     33000 | NS      | $506220.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                           | Energy Transfer, L.P.                                               | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     10000 | NS      | $164900.00    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L.P.            | Enterprise Products Partners, L.P.                                  | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |      1500 | NS      | $48090.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                | Equinix, Inc.                                                       | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      4260 | NS      | $3263841.60   | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Lifestyle Properties Inc              | Equity LifeStyle Properties, Inc.                                   | CUSIP: 29472R108<br>LEI: 529900PEQG66LENB6798 | Long             | EC               | CORP              | US        |     17050 | NS      | $1033400.50   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                           | Equity Residential                                                  | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |     23615 | NS      | $1488689.60   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Essex Property Trust, Inc.                   | Essex Property Trust, Inc.                                          | CUSIP: 297178105<br>LEI: 549300TR2H2VEFX0NC60 | Long             | EC               | CORP              | US        |      6986 | NS      | $1828096.48   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Extra Space Storage Inc.                     | Extra Space Storage, Inc.                                           | CUSIP: 30225T102<br>LEI: 529900SDJHKRQWED6A16 | Long             | EC               | CORP              | US        |     10880 | NS      | $1416793.60   | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust              | Federal Realty Investment Trust                                     | CUSIP: 313745101<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EC               | CORP              | US        |      9700 | NS      | $977760.00    | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Federal Realty Investment Trust              | Federal Realty Investment Trust Series C, 5.00%                     | CUSIP: 313745200<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EP               | CORP              | US        |      6500 | NS      | $130650.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Four Corners Property Trust Inc.             | Four Corners Property Trust, Inc.                                   | CUSIP: 35086T109<br>LEI: 549300SVTPZPBDVNER42 | Long             | EC               | CORP              | US        |      5000 | NS      | $115300.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaming and Leisure Properties Inc            | Gaming and Leisure Properties, Inc.                                 | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     28885 | NS      | $1290870.65   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Getty Realty Corp                            | Getty Realty Corporation                                            | CUSIP: 374297109<br>LEI: 2549000P1W5SFJWCNP90 | Long             | EC               | CORP              | US        |      1000 | NS      | $27370.00     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| American Healthcare REIT Inc.                | American Healthcare REIT, Inc.                                      | CUSIP: 398182303<br>LEI: 2549004GGE2APGNT6O92 | Long             | EC               | CORP              | US        |      1500 | NS      | $70590.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc    | HA Sustainable Infrastructure Capital, Inc. Capital, Inc.           | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |       717 | NS      | $22535.31     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HRTI LLC                                     | Healthcare Realty Trust, Inc.                                       | CUSIP: 42226K105<br>LEI: 549300L0I14L7I0VLX84 | Long             | EC               | CORP              | US        |      8000 | NS      | $135600.00    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthpeak Properties Inc                    | Healthpeak Properties, Inc.                                         | CUSIP: 42250P103<br>LEI: 254900M6MTMZM0I22L81 | Long             | EC               | CORP              | US        |     18869 | NS      | $303413.52    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Highwoods Properties, Inc.                   | Highwoods Properties, Inc.                                          | CUSIP: 431284108<br>LEI: ZIIGTYKL9T0X3HLTDX53 | Long             | EC               | CORP              | US        |      2000 | NS      | $51640.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc                    | Host Hotels & Resorts, Inc.                                         | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     39900 | NS      | $707427.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Invitation Homes Inc.                        | Invitation Homes, Inc.                                              | CUSIP: 46187W107<br>LEI: 984500FE452E665C9F85 | Long             | EC               | CORP              | US        |      6500 | NS      | $180635.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Iron Mountain Inc.                           | Iron Mountain, Inc.                                                 | CUSIP: 46284V101<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | EC               | CORP              | US        |     32500 | NS      | $2695875.00   | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & Co Inc.                                | KKR & Company, Inc.                                                 | CUSIP: 48251W104<br>LEI: 54930013V5I303TF9571 | Long             | EC               | CORP              | US        |      2350 | NS      | $299578.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Kilroy Realty Corporation                    | Kilroy Realty Corporation                                           | CUSIP: 49427F108<br>LEI: 549300CXXI18B214UN80 | Long             | EC               | CORP              | US        |      4265 | NS      | $159383.05    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimco Realty Corporation                     | Kimco Realty Corporation                                            | CUSIP: 49446R109<br>LEI: 254900ARY41P4V1JL861 | Long             | EC               | CORP              | US        |     24569 | NS      | $498013.63    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Lennar Corp.                                 | Lennar Corporation                                                  | CUSIP: 526057104<br>LEI: 529900G61XVRLX5TJX09 | Long             | EC               | CORP              | US        |       925 | NS      | $95090.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP Industrial Trust                         | LXP Industrial Trust                                                | CUSIP: 529043408<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EC               | CORP              | US        |       540 | NS      | $26773.20     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                  | Lineage, Inc.                                                       | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2100 | NS      | $73500.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MPLX LP                                      | MPLX, L.P.                                                          | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |      1000 | NS      | $53370.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities, Inc.      | Mid-America Apartment Communities, Inc.                             | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |      5222 | NS      | $725388.02    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Millrose Properties Inc.                     | Millrose Properties, Inc.                                           | CUSIP: 601137102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       462 | NS      | $13799.94     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley Institutional Liquidity Funds | Morgan Stanley Institutional Liquidity Fund  - Government Portfolio | CUSIP: 61747C707<br>LEI: 5493000A332Y142SOW84 | Long             | STIV             | RF                | US        |     13786 | PA      | $13786.14     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| NNN REIT Inc                                 | NNN REIT, Inc.                                                      | CUSIP: 637417106<br>LEI: 5493008JKH5SOTI0JS97 | Long             | EC               | CORP              | US        |     17750 | NS      | $703432.50    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Net Lease Office Properties                  | NET Lease Office Properties                                         | CUSIP: 64110Y108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1872 | NS      | $48278.88     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Adamas Trust Inc.                            | Adamas Trust, Inc.                                                  | CUSIP: 649604857<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |      2000 | NS      | $38340.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors, Inc.             | Omega Healthcare Investors, Inc.                                    | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     45000 | NS      | $1995300.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| One Liberty Properties Inc.                  | One Liberty Properties, Inc.                                        | CUSIP: 682406103<br>LEI: 549300QII1CQZGZBZR14 | Long             | EC               | CORP              | US        |      2500 | NS      | $50725.00     | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc.                   | Park Hotels & Resorts, Inc.                                         | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |      9250 | NS      | $96755.00     | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                      | Pebblebrook Hotel Trust                                             | CUSIP: 70509V704<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |      2500 | NS      | $47625.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                      | Pebblebrook Hotel Trust                                             | CUSIP: 70509V803<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |      4000 | NS      | $74800.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Pebblebrook Hotel Trust                      | Pebblebrook Hotel Trust                                             | CUSIP: 70509V886<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |      6000 | NS      | $106080.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Plains All American Pipeline L.P.            | Plains All American Pipeline, L.P.                                  | CUSIP: 726503105<br>LEI: 5521FA2ITF25TVH63740 | Long             | EC               | CORP              | US        |      2000 | NS      | $35920.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Plymouth Industrial REIT Inc.                | Plymouth Industrial REIT, Inc.                                      | CUSIP: 729640102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1500 | NS      | $32820.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Postal Realty Trust Inc                      | Postal Realty Trust, Inc.                                           | CUSIP: 73757R102<br>LEI: 5493007B7ZZSIJRGWC41 | Long             | EC               | CORP              | US        |      3000 | NS      | $48420.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc.                                | Prologis, Inc.                                                      | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     24301 | NS      | $3102265.66   | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                               | Public Storage                                                      | CUSIP: 74460D109<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EC               | CORP              | US        |      7925 | NS      | $2056537.50   | 3.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                               | Public Storage                                                      | CUSIP: 74460W552<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |      2000 | NS      | $37000.00     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                               | Public Storage                                                      | CUSIP: 74460W628<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |      1917 | NS      | $37017.27     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Realty Income Corporation                    | Realty Income Corporation                                           | CUSIP: 756109104<br>LEI: 549300CUWDAUZSH43859 | Long             | EC               | CORP              | US        |     28585 | NS      | $1611336.45   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Regency Centers Corp.                        | Regency Centers Corporation                                         | CUSIP: 758849103<br>LEI: 529900053A7X7FJ97S58 | Long             | EC               | CORP              | US        |     13400 | NS      | $925002.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc.               | Rexford Industrial Realty, Inc.                                     | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |     10500 | NS      | $406560.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                     | Simon Property Group, Inc.                                          | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     14850 | NS      | $2748883.50   | 4.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotherly Hotels Inc                          | Sotherly Hotels, Inc.                                               | CUSIP: 83600C301<br>LEI: 549300IYTT21F61LSR10 | Long             | EP               | CORP              | US        |      6000 | NS      | $101340.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotherly Hotels Inc                          | Sotherly Hotels, Inc.                                               | CUSIP: 83600C400<br>LEI: 549300IYTT21F61LSR10 | Long             | EP               | CORP              | US        |      2000 | NS      | $34540.00     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STAG Industrial, Inc.                        | STAG Industrial, Inc.                                               | CUSIP: 85254J102<br>LEI: 549300QWYX2W6FASVQ07 | Long             | EC               | CORP              | US        |     38950 | NS      | $1431802.00   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust, Inc.                | Starwood Property Trust, Inc.                                       | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |      4500 | NS      | $81045.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Hotel Properties, Inc.                | Summit Hotel Properties, Inc.                                       | CUSIP: 866082704<br>LEI: 254900OBQWJK6X20LS71 | Long             | EP               | CORP              | US        |     10000 | NS      | $181000.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities, Inc.                        | Sun Communities, Inc.                                               | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |      7950 | NS      | $985084.50    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc.                | Sunstone Hotel Investors, Inc.                                      | CUSIP: 867892101<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EC               | CORP              | US        |      8700 | NS      | $77778.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc.                | Sunstone Hotel Investors, Inc.                                      | CUSIP: 867892804<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EP               | CORP              | US        |      4000 | NS      | $79800.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sunstone Hotel Investors Inc.                | Sunstone Hotel Investors, Inc.                                      | CUSIP: 867892887<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EP               | CORP              | US        |      4000 | NS      | $77160.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Tanger Inc.                                  | Tanger, Inc.                                                        | CUSIP: 875465106<br>LEI: UKEW8YSXE4Y581KYOL30 | Long             | EC               | CORP              | US        |     12000 | NS      | $400440.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Terreno Realty Corporation                   | Terreno Realty Corporation                                          | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26875 | NS      | $1577831.25   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Toll Brothers, Inc.                          | Toll Brothers, Inc.                                                 | CUSIP: 889478103<br>LEI: 529900JB6IS9MSZGVR44 | Long             | EC               | CORP              | US        |       875 | NS      | $118317.50    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| UDR Inc                                      | UDR, Inc.                                                           | CUSIP: 902653104<br>LEI: P3CH2EG5X6Z1XWU1OO74 | Long             | EC               | CORP              | US        |     35350 | NS      | $1296638.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Ventas Inc.                                  | Ventas, Inc.                                                        | CUSIP: 92276F100<br>LEI: ORQTRC074CWLT3DKHT41 | Long             | EC               | CORP              | US        |     28250 | NS      | $2185985.00   | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                           | Vertiv Holdings Company                                             | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |      4575 | NS      | $741195.75    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Vici Properties Inc                          | VICI Properties, Inc.                                               | CUSIP: 925652109<br>LEI: 254900RKH6RY9KCJQH63 | Long             | EC               | CORP              | US        |     82297 | NS      | $2314191.64   | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vornado Realty Trust                         | Vornado Realty Trust                                                | CUSIP: 929042828<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      2500 | NS      | $42375.00     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| W. P. Carey Inc                              | WP Carey, Inc.                                                      | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |      9200 | NS      | $592112.00    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower Inc.                               | Welltower, Inc.                                                     | CUSIP: 95040Q104<br>LEI: 254900F33BIAR82QTA19 | Long             | EC               | CORP              | US        |     35175 | NS      | $6528831.75   | 10.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Company                         | Weyerhaeuser Company                                                | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |      5300 | NS      | $125557.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Spirit of America Investment Fund, Inc.

**Signature:** Alan Chodosh

**Name of Signer:** Alan Chodosh

**Title:** Treasurer