# EDGAR Filing Document

**Accession Number:** 0001039667
**File Stem:** 0001752724-23-046647
**Filing Date:** 2023-2
**Character Count:** 34565
**Document Hash:** 5d5df64ea8c91e71dccfd34c8e801dfc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-046647.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001752724-23-046647

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SPIRIT OF AMERICA INVESTMENT FUND INC
- **CENTRAL INDEX KEY:** 0001039667
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08231
- **FILM NUMBER:** 23682883

**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 Income and Opportunity Fund (Series ID: S000041401)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000128397 | Class A              | SOAOX           |
| C000167230 | Class C              | SACOX           |
| C000219381 | Institutional Shares | SOIOX           |

## 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 Tunrpike

  - **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 INCOME & OPPORTUNITY

- **b. EDGAR series identifier (if any):** S000041401

- **c. LEI of Series:** 549300CWUL9P5MSVY675

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $18926884.91

**Total Liabilities:** $228562.97

**Net Assets:** $18698321.94

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 158.60353000 | **5-Year:** 361.62023000 | **10-Year:** 4401.40800900 | **30-Year:** 1200.13032300

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000219381 | 1.13%                | 6.10%                | -4.10%               |
| Class ID C000167230 | 0.13%                | 4.85%                | -5.07%               |
| Class ID C000128397 | -3.58%               | 0.94%                | -8.69%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-135095.13              | $319282.87                                 |
| Month 2  | $-42088.30               | $1145562.07                                |
| Month 3  | $-2793.83                | $-867809.66                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| KANSAS ST DEV FIN AUTH                           | Kansas Development Finance Authority                                               | CUSIP: 485429Z64<br>LEI: 549300WTL7BL8KBDPR87 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $969782.00    | 5.19%             | 2037-04-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Terreno Realty Corporation                       | Terreno Realty Corp.                                                               | CUSIP: 88146M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $227480.00    | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L.P.                | Enterprise Products Partners LP                                                    | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     10000 | NS      | $241200.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                   | Public Storage, Series M, 4.125%                                                   | CUSIP: 74460W537<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EP               | CORP              | US        |      1944 | NS      | $33456.24     | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Prudential Financial, Inc.                       | Prudential Financial, Inc., 4.125%                                                 | CUSIP: 744320888<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |      1765 | NS      | $32034.75     | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN MUN PWR OHIO INC                        | American Municipal Power, Inc.                                                     | CUSIP: 02765UDN1<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |    100000 | PA      | $104244.59    | 0.56%             | 2047-02-15      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| Apple Inc.                                       | Apple, Inc.                                                                        | CUSIP: 037833DP2<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |    250000 | PA      | $217344.22    | 1.16%             | 2029-09-11      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Hudson Pacific Properties Inc                    | Hudson Pacific Properties Inc., Series C, 4.75%                                    | CUSIP: 444097307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |      6000 | NS      | $75180.00     | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc                         | Crowdstrike Holdings, Inc.                                                         | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |       350 | NS      | $36851.50     | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                     | Southern Co., 5.25%                                                                | CUSIP: 842587404<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |     14000 | NS      | $296520.00    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Partners LP            | Brookfield Infrastructure Partners LP                                              | CUSIP: G16252267<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |     10000 | NS      | $160499.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                            | Microsoft Corp.                                                                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      2000 | NS      | $479640.00    | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| First Republic Bank San Francisco                | First Republic Bank/CA                                                             | CUSIP: 33616C761<br>LEI: YWC0TIKBQM2JV8L4IV08 | Long             | EP               | CORP              | US        |      1333 | NS      | $21328.00     | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Partners L P                     | Cheniere Energy Partners LP                                                        | CUSIP: 16411Q101<br>LEI: 5493005UEC8AZ34LDV29 | Long             | EC               | CORP              | US        |      2300 | NS      | $130801.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                   | Public Storage, 5.05%                                                              | CUSIP: 74460W669<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EP               | CORP              | US        |      5000 | NS      | $108150.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| READING PA                                       | City of Reading, PA                                                                | CUSIP: 755553XS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1009442.30   | 5.40%             | 2033-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                                    | Alphabet, Inc.                                                                     | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      3800 | NS      | $337174.00    | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                                 | Amazon.com, Inc.                                                                   | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      3500 | NS      | $294000.00    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| GRAND PKWY TRANSN CORP TEX                       | Grand Parkway Transportation Corp.                                                 | CUSIP: 38611TDL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $35568.28     | 0.19%             | 2052-10-01      | Fixed         | 3.24%                 | No            |                  2 | On Loan: No      |
| Truist Financial Corporation                     | Truist Financial Corp.                                                             | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |      8166 | NS      | $155888.94    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Caterpillar Inc                                  | Caterpillar, Inc.                                                                  | CUSIP: 149123101<br>LEI: WRJR7GS4GTRECRRTVX92 | Long             | EC               | CORP              | US        |       700 | NS      | $167692.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                             | JPMorgan Chase & Co., Series LL 4.625%                                             | CUSIP: 48128B549<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |      6000 | NS      | $113040.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd.                          | Arch Capital Group Ltd.                                                            | CUSIP: 03939A404<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | US        |      5000 | NS      | $86350.00     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| CALIFORNIA ST UNIV                               | California State University                                                        | CUSIP: 13077DKT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     50000 | PA      | $37004.83     | 0.20%             | 2042-11-01      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| Magellan Midstream Partners LP                   | Magellan Midstream Partners LP                                                     | CUSIP: 559080106<br>LEI: MZF5TI8NFVZZNUSKDL39 | Long             | EC               | CORP              | US        |      2000 | NS      | $100420.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc                                   | Home Depot, Inc./The                                                               | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      1000 | NS      | $315860.00    | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bancorp.                                    | US Bancorp                                                                         | CUSIP: 902973734<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |     10000 | NS      | $155000.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower OP LLC                                 | Welltower, Inc.                                                                    | CUSIP: 95040Q104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1160 | NS      | $76038.00     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Renaissancere Holdings Ltd.                      | RenaissanceRE Holdings Ltd., Series G, 4.2%                                        | CUSIP: G7498P127<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |       350 | NS      | $5680.50      | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Proshares Trust                                  | ProShares Short S&P 500 ETF                                                        | CUSIP: 74347B425<br>LEI: 5493005D9DS7C1P5AM59 | Long             | EC               | RF                | US        |     10000 | NS      | $160300.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN | Metropolitan Government of Nashville & Davidson County Convention Center Authority | CUSIP: 592125AA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $579175.10    | 3.10%             | 2043-07-01      | Fixed         | 7.43%                 | No            |                  2 | On Loan: No      |
| Walt Disney Company                              | Walt Disney Co./The                                                                | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |      1000 | NS      | $86880.00     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                              | Fifth Third Bancorp                                                                | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |      3400 | NS      | $111554.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                       | Apple, Inc.                                                                        | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      3250 | NS      | $422272.50    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Dow Inc                                          | Dow, Inc.                                                                          | CUSIP: 260557103<br>LEI: 5493003S21INSLK2IP73 | Long             | EC               | CORP              | US        |      1000 | NS      | $50390.00     | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NARRAGANSETT R I BAY COMMN REV                   | Narragansett Bay Commission                                                        | CUSIP: 631060CZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $172108.55    | 0.92%             | 2043-09-01      | Fixed         | 2.92%                 | No            |                  2 | On Loan: No      |
| The Williams Companies, Inc.                     | Williams Cos, Inc./The                                                             | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |      2500 | NS      | $82250.00     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinder Morgan, Inc.                              | Kinder Morgan, Inc.                                                                | CUSIP: 49456B101<br>LEI: 549300WR7IX8XE0TBO16 | Long             | EC               | CORP              | US        |      7500 | NS      | $135600.00    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Transfer LP                               | Energy Transfer LP                                                                 | CUSIP: 29273V100<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | EC               | CORP              | US        |     15000 | NS      | $178050.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TUCSON ARIZ                                      | City of Tucson, AZ                                                                 | CUSIP: 898735SG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $588952.82    | 3.15%             | 2034-07-01      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| Duke Energy Corp                                 | Duke Energy Corp.                                                                  | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |      1000 | NS      | $102990.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities, Inc.                            | Sun Communities, Inc.                                                              | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |       714 | NS      | $102102.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                      | Bank of America Corp., Series QQ, 4.25%                                            | CUSIP: 06055H806<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      5000 | NS      | $84750.00     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| METROPOLITAN GOVT NASHVILLE & DAVIDSON CNTY TENN | Metropolitan Government of Nashville & Davidson County                             | CUSIP: 592112PC4<br>LEI: 549300GW8FVQJ3DU6O10 | Long             | DBT              | MUN               | US        |    100000 | PA      | $90086.94     | 0.48%             | 2029-07-01      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| Deere & Company                                  | Deere & Co.                                                                        | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      1150 | NS      | $493074.00    | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Affiliated Managers Group, Inc.                  | Affiliated Managers Group, Inc., 4.2%                                              | CUSIP: 008252835<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |      5000 | NS      | $73700.00     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                    | Alphabet, Inc.                                                                     | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5000 | NS      | $441150.00    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWPORT BEACH CALIF                              | City of Newport Beach, CA                                                          | CUSIP: 651779BZ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $925241.20    | 4.95%             | 2040-07-01      | Fixed         | 7.17%                 | No            |                  2 | On Loan: No      |
| PASCO CNTY FLA SCH BRD                           | Pasco County School Board                                                          | CUSIP: 702528JD3<br>LEI: 549300NYEDMC7IDJPE68 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $958637.40    | 5.13%             | 2037-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                          | MPLX LP                                                                            | CUSIP: 55336V100<br>LEI: 5493000CZJ19CK4P3G36 | Long             | EC               | CORP              | US        |      8850 | NS      | $290634.00    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN MUN PWR OHIO INC                        | American Municipal Power, Inc.                                                     | CUSIP: 02765UEJ9<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1224494.50   | 6.55%             | 2041-02-15      | Fixed         | 7.83%                 | No            |                  2 | On Loan: No      |
| Prologis Inc.                                    | Prologis, Inc.                                                                     | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |      3000 | NS      | $338190.00    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK ST DORM AUTH                            | New York State Dormitory Authority                                                 | CUSIP: 64990CER8<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    250000 | PA      | $197738.70    | 1.06%             | 2046-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Visa Inc                                         | Visa, Inc.                                                                         | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |       350 | NS      | $72716.00     | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                      | Bank of America Corp., Series SS, 4.75%                                            | CUSIP: 06055H871<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      5000 | NS      | $94050.00     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corporation                            | Microsoft Corp.                                                                    | CUSIP: 594918BY9<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    240000 | PA      | $231902.68    | 1.24%             | 2027-02-06      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| NVIDIA Corp.                                     | NVIDIA Corp.                                                                       | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |      7500 | NS      | $1096050.00   | 5.86%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH          | New York City Transitional Finance Authority Building Aid Revenue                  | CUSIP: 64972HRT1<br>LEI: 5493003476LG35QAKM08 | Long             | DBT              | MUN               | US        |    300000 | PA      | $298992.54    | 1.60%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| American Electric Power Co, Inc.                 | American Electric Power Co., Inc.                                                  | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |      1155 | NS      | $109667.25    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                   | Public Storage, Series R, 4.00%                                                    | CUSIP: 74460W420<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EP               | CORP              | US        |      6000 | NS      | $100200.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PORT AUTH N Y & N J                              | Port Authority of New York & New Jersey                                            | CUSIP: 73358WXP4<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    250000 | PA      | $230566.08    | 1.23%             | 2045-06-01      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| Blackstone Inc                                   | Blackstone Group LP/The                                                            | CUSIP: 09260D107<br>LEI: 5299004LW4QWGZUB8Y96 | Long             | EC               | CORP              | US        |      5500 | NS      | $408045.00    | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co New                             | Wells Fargo & Co., Series DD, 4.25%                                                | CUSIP: 95002Y400<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |      5000 | NS      | $82350.00     | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| WASHOE CNTY NEV                                  | County of Washoe, NV                                                               | CUSIP: 940839BM4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $122766.05    | 0.66%             | 2040-02-01      | Fixed         | 7.97%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                                   | Morgan Stanley, Series O, 4.25%                                                    | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |      5000 | NS      | $85900.00     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                             | JPMorgan Chase & Co., Series JJ, 4.55%                                             | CUSIP: 48128B580<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |      5000 | NS      | $93050.00     | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| W. P. Carey Inc                                  | WP Carey, Inc.                                                                     | CUSIP: 92936U109<br>LEI: 54930042CRNE713E3Q67 | Long             | EC               | CORP              | US        |      1340 | NS      | $104721.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Starwood Property Trust, Inc.                    | Starwood Property Trust, Inc.                                                      | CUSIP: 85571B105<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | EC               | CORP              | US        |      4175 | NS      | $76527.75     | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackstone Mortgage Trust, Inc                   | Blackstone Mortgage Trust, Inc.                                                    | CUSIP: 09257W100<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | EC               | CORP              | US        |      3207 | NS      | $67892.19     | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Globe Life Inc                                   | Globe Life, Inc., 4.25%                                                            | CUSIP: 37959E300<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EP               | CORP              | US        |      1000 | NS      | $17900.00     | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Viper Energy Partners LP                         | Viper Energy Partners LP                                                           | CUSIP: 92763M105<br>LEI: 5299009LINL232255G03 | Long             | EC               | CORP              | US        |      3200 | NS      | $101728.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| WYANDOTTE CNTY KANS UNI SCH DIST NO 500          | Wyandotte County Unifed School District No 500 Kansas City                         | CUSIP: 982696SF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $120567.54    | 0.64%             | 2046-09-01      | Fixed         | 3.17%                 | No            |                  2 | On Loan: No      |
| AbbVie Inc.                                      | AbbVie, Inc.                                                                       | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      4000 | NS      | $646440.00    | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                          | MasterCard, Inc.                                                                   | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       200 | NS      | $69546.00     | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Brighthouse Financial Inc.                       | Brighthouse Financial, Inc. Series D, 4.625%                                       | CUSIP: 10922N889<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |      6000 | NS      | $91200.00     | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corporation                | Capital One Financial Corp.                                                        | CUSIP: 14040H774<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |      6166 | NS      | $107898.83    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                                   | Public Storage, Series S, 4.1%                                                     | CUSIP: 74460W396<br>LEI: 549300LMZF40TKJ6DM64 | Long             | EP               | CORP              | US        |      5000 | NS      | $85400.00     | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-31

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

**Signature:** Gregory Knoth

**Name of Signer:** Gregory Knoth

**Title:** SVP, Mutual Fund Controller