0001752724-20-220757.txt : 20201030 0001752724-20-220757.hdr.sgml : 20201030 20201030125134 ACCESSION NUMBER: 0001752724-20-220757 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20200831 FILED AS OF DATE: 20201030 PERIOD START: 20201130 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: 201276292 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 0001039667 S000046009 Spirit of America Energy Fund C000143747 Class A SOAEX C000167220 Class C SACEX C000218733 Institutional Shares SAIEX NPORT-P 1 primary_doc.xml NPORT-P false 0001039667 XXXXXXXX S000046009 C000218733 C000167220 C000143747 Spirit of America Investment Fund, Inc. 811-08231 0001039667 549300PJ84G8FJU36634 477 Jericho Turnpike Syosset 11791 516-390-5555 SPIRIT OF AMERICA ENERGY FUND S000046009 549300NUK30FC9K5W533 2020-11-30 2020-08-31 N 170288181.25 3768584.28 166519596.97 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0 N Morgan Stanley Institutional Liquidity Funds N/A Morgan Stanley Institutional Liquidity Fund - Government Portfolio 61747C707 261387.29000000 PA USD 261387.29000000 0.156970887965 Long STIV RF US N 1 N N N Solaredge Technologies Inc 5493000K6Y58XXPDF853 SolarEdge Technologies, Inc. 83417M104 500.00000000 NS USD 110575.00000000 0.066403595740 Long EC CORP US N 1 N N N Teekay Lng Partner 549300CP38L0UER0I397 Teekay LNG Partners LP Y8564M105 175101.00000000 NS USD 1938368.07000000 1.164048019134 Long EC CORP MH N 1 N N N MPLX LP 5493000CZJ19CK4P3G36 MPLX LP 55336V100 573247.00000000 NS USD 10473222.69000000 6.289483568643 Long EC CORP US N 1 N N N Enviva Partners LP / Enviva Partners Finance Corp 549300WH5VXDEFM5KR81 Enviva Partners LP 29414J107 2200.00000000 NS USD 90794.00000000 0.054524513421 Long EC CORP US N 1 N N N Energy Transfer LP MTLVN9N7JE8MIBIJ1H73 Energy Transfer LP 29273V100 954870.00000000 NS USD 6130265.40000000 3.681407781154 Long EC CORP US N 1 N N N USA Compression Partners Lp 549300ZWL4J1LYMOWK56 USA Compression Partners LP 90290N109 548624.00000000 NS USD 6056808.96000000 3.637294991226 Long EC CORP US N 1 N N N Hess Midstream LP N/A Hess Midstream LP 428103105 217837.00000000 NS USD 3851358.16000000 2.312855802007 Long EC CORP US N 1 N N N TC Energy Corp 549300UGKOFV2IWJJG27 TC Energy Corp. 89353D107 100400.00000000 NS USD 4684664.00000000 2.813280890202 Long EC CORP CA N 1 N N N Nextera Energy Partners LP 5493008F4ZOQFNG3WN54 NextEra Energy Partners LP 65341B106 1000.00000000 NS USD 60320.00000000 0.036223964684 Long EC CORP US N 1 N N N Dominion Energy Inc ILUL7B6Z54MRYCF6H308 Dominion Resources, Inc. 25746U109 102642.00000000 NS USD 8051238.48000000 4.835009588361 Long EC CORP US N 1 N N N Exxon Mobil Corporation J3WHBG0MTS7O8ZVMDC91 Exxon Mobil Corp. 30231G102 55870.00000000 NS USD 2231447.80000000 1.340051165510 Long EC CORP US N 1 N N N Kinder Morgan, Inc. 549300WR7IX8XE0TBO16 Kinder Morgan, Inc. 49456B101 765994.00000000 NS USD 10586037.08000000 6.357231985078 Long EC CORP US N 1 N N N Nextera Energy Inc N/A NextEra Energy, Inc. 65339F101 1950.00000000 NS USD 544381.50000000 0.326917377837 Long EC CORP US N 1 N N N Parsley Energy Inc 549300DMRA8DSL66G562 Parsley Energy, Inc. 701877102 112000.00000000 NS USD 1204000.00000000 0.723038021895 Long EC CORP US N 1 N N N Brookfield Renewable Partner S.L.P VA8DFMRI2GY8Y7V79H93 Brookfield Renewable Partners LP G16258108 28850.00000000 NS USD 1310944.00000000 0.787261093501 Long EC CORP CA N 1 N N N EOG Resources, Inc. XWTZDRYZPBUHIQBKDB46 EOG Resources, Inc. 26875P101 1000.00000000 NS USD 45340.00000000 0.027228026505 Long EC CORP US N 1 N N N Hannon Armstrong Sustainable Infrastructure Capital, Inc. N/A Hannon Armstrong Sustainable Infrastructure Capital, Inc. 41068X100 3250.00000000 NS USD 137995.00000000 0.082870126105 Long EC CORP US N 1 N N N Marathon Oil Corporation 1FRVQX2CRLGC1XLP5727 Marathon Oil Corp. 565849106 46273.00000000 NS USD 244321.44000000 0.146722334455 Long EC CORP US N 1 N N N The Williams Companies, Inc. D71FAKCBLFS2O0RBPG08 Williams Cos, Inc./The 969457100 485782.00000000 NS USD 10084834.32000000 6.056244732454 Long EC CORP US N 1 N N N Cheniere Energy Inc MIHC87W9WTYSYZWV1J40 Cheniere Energy, Inc. 16411R208 20025.00000000 NS USD 1042301.25000000 0.625933084733 Long EC CORP US N 1 N N N Algonquin Power & Utilities Corporation 549300K5VIUTJXQL7X75 Algonquin Power & Utilities Corp. 015857105 15500.00000000 NS USD 214365.00000000 0.128732595983 Long EC CORP CA N 1 N N N Phillips 66 5493005JBO5YSIGK1814 Phillips 66 718546104 81432.00000000 NS USD 4761329.04000000 2.859320540427 Long EC CORP US N 1 N N N Baker Hughes Company N/A Baker Hughes a GE Co. 05722G100 71000.00000000 NS USD 1013880.00000000 0.608865273786 Long EC CORP US N 1 N N N Chevron Corporation N/A Chevron Corp. 166764100 100030.00000000 NS USD 8395517.90000000 5.041759680401 Long EC CORP US N 1 N N N Sunoco LP / Sunoco Finance Corp 54930001NJU8E40NQ561 Sunoco LP 86765K109 117674.00000000 NS USD 3121891.22000000 1.874789079967 Long EC CORP US N 1 N N N Pioneer Natural Resources Company FY8JBF7CCL2VE4F1B628 Pioneer Natural Resources Co. 723787107 1300.00000000 NS USD 135109.00000000 0.081136996761 Long EC CORP US N 1 N N N N/A N/A MPLX LP Call @ 20, Expiring September 2020 N/A -50.00000000 NS USD -750.00000000 -0.00045039743 Short DE CORP US N 1 JEFFERIES LLC N/A Call Written MPLX LP MPLX LP 100.00000000 20.00000000 USD 2020-09-20 XXXX 1198.17000000 N N N PPL Corporation 9N3UAJSNOUXFKQLF3V18 PPL Corp. 69351T106 12250.00000000 NS USD 338467.50000000 0.203259860195 Long EC CORP US N 1 N N N TC Pipelines, LP 6HL0C5LCIE4TN8UZHL06 TC PipeLines LP 87233Q108 77719.00000000 NS USD 2360326.03000000 1.417446398471 Long EC CORP US N 1 N N N Antero Midstream Corporation N/A Antero Midstream Corp. 03676B102 23500.00000000 NS USD 159095.00000000 0.095541307386 Long EC CORP US N 1 N N N Viper Energy Partners LP 5299009LINL232255G03 Viper Energy Partners LP 92763M105 365457.00000000 NS USD 3720352.26000000 2.234182839555 Long EC CORP US N 1 N N N Shell Midstream Partners LP 529900YZVDXMTV4XGE96 Shell Midstream Partners LP 822634101 402298.00000000 NS USD 4179876.22000000 2.510140725810 Long EC CORP US N 1 N N N Eversource Energy SJ7XXD41SQU3ZNWUJ746 Eversource Energy 30040W108 2200.00000000 NS USD 188562.00000000 0.113237122495 Long EC CORP US N 1 N N N CHENIERE ENERGY PARTNERS L P 5493005UEC8AZ34LDV29 Cheniere Energy Partners LP 16411Q101 224619.00000000 NS USD 8128961.61000000 4.881684653287 Long EC CORP US N 1 N N N Holly Energy Partners L P / Holly Energy Finance Corporation 529900NVV7ODCT0QCG29 Holly Energy Partners LP 435763107 35419.00000000 NS USD 506137.51000000 0.303950717639 Long EC CORP US N 1 N N N Enbridge Incorporation 98TPTUM4IVMFCZBCUR27 Enbridge, Inc. 29250N105 327927.00000000 NS USD 10500222.54000000 6.305697786364 Long EC CORP CA N 1 N N N UGI Corp DX6GCWD4Q1JO9CRE5I40 UGI Corp. 902681105 124922.00000000 NS USD 4313556.66000000 2.590419829551 Long EC CORP US N 1 N N N Plains All American Pipeline L.P./PAA Finance Corp. 5521FA2ITF25TVH63740 Plains All American Pipeline LP 726503105 16500.00000000 NS USD 116820.00000000 0.070153905081 Long EC CORP US N 1 N N N Western Midstream Partners LP N/A Western Midstream Partners LP 958669103 10300.00000000 NS USD 93421.00000000 0.056102105517 Long EC CORP US N 1 N N N Phillips 66 Partners LP 549300TL5L4IG0H4FX64 Phillips 66 Partners LP 718549207 261441.00000000 NS USD 7037991.72000000 4.226524594140 Long EC CORP US N 1 N N N Enterprise Prods P K4CDIF4M54DJZ6TB4Q48 Enterprise Products Partners LP 293792107 600594.00000000 NS USD 10546430.64000000 6.333447132892 Long EC CORP US N 1 N N N Halliburton Company ENYF8GB5SMQZ25S06U51 Halliburton Co. 406216101 1000.00000000 NS USD 16180.00000000 0.009716574081 Long EC CORP US N 1 N N N Black Stone Minerals LP 0C0OFK66613BCRQJ7F34 Black Stone Minerals, L.P. 09225M101 383749.00000000 NS USD 2682405.51000000 1.610864762351 Long EC CORP US N 1 N N N Magellan Midstream Partners LP MZF5TI8NFVZZNUSKDL39 Magellan Midstream Partners LP 559080106 243115.00000000 NS USD 9240801.15000000 5.549377561648 Long EC CORP US N 1 N N N Brookfield Renewable Corporation N/A Brookfield Renewable Corp. 11284V105 7712.50000000 NS USD 392720.50000000 0.235840409865 Long EC CORP CA N 1 N N N Oneok Inc. 2T3D6M0JSY48PSZI1Q41 ONEOK, Inc. 682680103 200921.00000000 NS USD 5521309.08000000 3.315711291923 Long EC CORP US N 1 N N N Marathon Petroleum Company 3BNYRYQHD39K4LCKQF12 Marathon Petroleum Corp. 56585A102 97671.00000000 NS USD 3463413.66000000 2.079883523033 Long EC CORP US N 1 N N N Duke Energy Corp I1BZKREC126H0VB1BL91 Duke Energy Corp. 26441C204 2800.00000000 NS USD 224952.00000000 0.135090406230 Long EC CORP US N 1 N N N Valero Energy Corporation 549300XTO5VR8SKV1V74 Valero Energy Corp. 91913Y100 98334.00000000 NS USD 5171385.06000000 3.105571448705 Long EC CORP US N 1 N N N Bp Midstream Partners Lp 529900PIOYVTOPLH5962 BP Midstream Partners LP 0556EL109 139496.00000000 NS USD 1644657.84000000 0.987666238644 Long EC CORP US N 1 N N N Cnx Midstream Partners Lp N/A CNX Midstream Partners LP 12654A101 28502.00000000 NS USD 273904.22000000 0.164487678918 Long EC CORP US N 1 N N N 2020-10-05 SPIRIT OF AMERICA INVESTMENT FUND INC Gregory Knoth Gregory Knoth SVP, Mutual Fund Controller XXXX NPORT-EX 2 fp0058703_nportex.htm SOA ENERGY N-PORT EX

SPIRIT OF AMERICA ENERGY FUND

SCHEDULE OF INVESTMENTS | AUGUST 31, 2020 (UNAUDITED)

  

   Shares   Market Value 
Master Limited Partnerships — Partnership Shares 47.90%          
           
Biofuels 0.05%
Enviva Partners LP   2,200   $90,794 
           
Exploration & Production 3.85%
Black Stone Minerals LP   383,749    2,682,406 
Viper Energy Partners LP   365,457    3,720,352 
         6,402,758 
Marine Shipping 1.16%
Teekay LNG Partners LP   175,101    1,938,368 
           
Midstream - Oil & Gas 36.50%
BP Midstream Partners LP   139,496    1,644,658 
Cheniere Energy Partners LP   224,619    8,128,962 
CNX Midstream Partners LP   28,502    273,904 
Energy Transfer LP   954,870    6,130,265 
Enterprise Products Partners LP   600,594    10,546,430 
Holly Energy Partners LP   35,419    506,138 
Magellan Midstream Partners LP   243,115    9,240,801 
MPLX LP   573,247    10,473,223 
Phillips 66 Partners LP   261,441    7,037,992 
Plains All American Pipeline LP   16,500    116,820 
Shell Midstream Partners LP   402,298    4,179,876 
TC PipeLines LP   77,719    2,360,326 
Western Midstream Partners LP   10,300    93,421 
         60,732,816 
Oilfield Services & Equipment 3.64%
USA Compression Partners LP   548,624    6,056,809 
           
Power Generation 0.82%
Brookfield Renewable Partners LP   28,850    1,310,944 

 

See accompanying notes which are an integral part of this schedule of investments.

 

 

SPIRIT OF AMERICA ENERGY FUND

SCHEDULE OF INVESTMENTS | AUGUST 31, 2020 (UNAUDITED) (CONT.)

  

   Shares   Market Value 
NextEra Energy Partners LP   1,000   $60,320 
         1,371,264 
Refining & Marketing 1.88%
Sunoco LP   117,674    3,121,891 
           
Total Master Limited Partnerships — Partnership Shares
(Cost $114,907,535)		        79,714,700 
           
Common Stocks 52.65%          
           
Electric Transmission & Distribution 0.24%
Algonquin Power & Utilities Corp.   15,500    214,365 
Eversource Energy   2,200    188,562 
         402,927 
Exploration & Production 0.98%
EOG Resources, Inc.   1,000    45,340 
Marathon Oil Corp.   46,273    244,321 
Parsley Energy, Inc., Class A   112,000    1,204,000 
Pioneer Natural Resources Co.   1,300    135,109 
         1,628,770 
Gas Utilities 2.59%
UGI Corp.   124,922    4,313,557 
           
Integrated Electric Utilities 5.50%
Dominion Energy, Inc.   102,642    8,051,237 
Duke Energy Corp.   2,800    224,952 
NextEra Energy, Inc.   1,950    544,382 
PPL Corp.   12,250    338,468 
         9,159,039 
Integrated Oils 6.38%
Chevron Corp.   100,030    8,395,518 

 

See accompanying notes which are an integral part of this schedule of investments.

 

 

SPIRIT OF AMERICA ENERGY FUND

SCHEDULE OF INVESTMENTS | AUGUST 31, 2020 (UNAUDITED) (CONT.)

 

   Shares   Market Value 
Exxon Mobil Corp.   55,870   $2,231,448 
         10,626,966 
Midstream - Oil & Gas 27.90%
Antero Midstream Corporation   23,500    159,095 
Cheniere Energy, Inc.(a)   20,025    1,042,301 
Enbridge, Inc.   327,927    10,500,223 
Hess Midstream LP, Class A   217,837    3,851,358 
Kinder Morgan, Inc.   765,994    10,586,037 
ONEOK, Inc.   200,921    5,521,309 
TC Energy Corporation   100,400    4,684,664 
Williams Cos, Inc. (The)   485,782    10,084,834 
         46,429,821 
Oilfield Services & Equipment 0.62%
Baker Hughes Co.   71,000    1,013,880 
Halliburton Co.   1,000    16,180 
         1,030,060 
Power Generation 0.24%
Brookfield Renewable Corp., Class A   7,713    392,721 
           
Refining & Marketing 8.05%
Marathon Petroleum Corp.   97,671    3,463,414 
Phillips 66   81,432    4,761,329 
Valero Energy Corp.   98,334    5,171,385 
         13,396,128 
Renewable Energy Equipment 0.07%
SolarEdge Technologies, Inc.(a)   500    110,575 
           
Specialty REIT 0.08%
Hannon Armstrong Sustainable Infrastructure Capital, Inc.   3,250    137,995 
           
Total Common Stocks
(Cost $117,398,079)		        87,628,559 

  

See accompanying notes which are an integral part of this schedule of investments.

 

 

SPIRIT OF AMERICA ENERGY FUND

SCHEDULE OF INVESTMENTS | AUGUST 31, 2020 (UNAUDITED) (CONT.)

 

   Shares   Market Value 
Money Market Funds 0.16%          
Morgan Stanley Institutional Liquidity Fund, Institutional, 0.02%(b)   261,387   $261,387 
           
Total Money Market Funds
(Cost $261,387)		        261,387 
           
Total Investments — 100.71%
(Cost $232,567,001)		        167,604,646 
Liabilities in Excess of Other Assets — (0.71)%        (1,180,838)
NET ASSETS - 100.00%       $166,423,808 

  

(a)Non-income producing security.
(b)Rate disclosed is the seven day effective yield as of August 31, 2020.

  

SPIRIT OF AMERICA ENERGY FUND

SCHEDULE OF WRITTEN OPTIONS | AUGUST 31, 2020 (UNAUDITED)

  

   Number of Contracts   Notional Amount   Exercise Price   Expiration Date  Value 
Written Call Options — (0.00)%
MPLX LP (a)   (50)  $(91,350)  $20.00   September 2020  $(750)
Total Written Call Options— (0.00)%
(Premiums Received $1,948)                    $(750)

    

(a)Non-income producing security.

 

At August 31, 2020, the net unrealized appreciation (depreciation) for tax purposes was as follows:

 

Gross unrealized appreciation  $30,907,988 
Gross unrealized depreciation   (56,816,536)
Net unrealized appreciation  $(25,908,548)
      
Cost basis of investments  $193,512,444 

 

See accompanying notes which are an integral part of this schedule of investments.

 

 

SPIRIT OF AMERICA INVESTMENT FUND, INC.

NOTES TO SCHEDULES OF INVESTMENTS

August 31, 2020 (UNAUDITED)

 

The Spirit of America Energy Fund (the “Fund”) is an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification (“ASC”) Topic 946, “Financial Services-Investment Companies”. The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. These policies are in conformity with generally accepted accounting principles in the United States of America (“GAAP”) for investment companies.

 

A.Security Valuation: The offering price and NAV per share for the Fund are calculated as of the close of regular trading on the New York Stock Exchange (“NYSE”), currently 4:00 p.m., Eastern Time on each day the NYSE is open for trading. The Fund’s securities are valued at the official close or the last reported sales price on the principal exchange on which the security trades, or if no sales price is reported, the mean of the latest bid and asked prices is used. Securities traded over-the-counter are priced at the mean of the latest bid and asked prices. Unlisted securities traded in the over-the-counter market are valued using an evaluated quote provided by the independent pricing service, or, if an evaluated quote is unavailable, such securities are valued using prices received from dealers, provided that if the dealer supplies both bid and ask prices, the price to be used is the mean of the bid and asked prices. The independent pricing service derives an evaluated quote by obtaining dealer quotes, analyzing the listed markets, reviewing trade execution data and employing sensitivity analysis. Evaluated quotes may also reflect appropriate factors such as individual characteristics of the issue, communications with broker-dealers, and other market data. Fund securities for which market quotations are not readily available are valued at fair value as determined in good faith under procedures established by and under the supervision of the Board.

 

B.Fair Value Measurements: Various inputs are used in determining the fair value of investments which are as follows:

 

• Level 1 – Inputs that reflect unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access at the measurement date.
   
• Level 2 – Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
   
• Level 3 –

Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Fund’s own assumptions used in determining the fair value of investments). 

 

 

 

SPIRIT OF AMERICA INVESTMENT FUND, INC.

NOTES TO SCHEDULES OF INVESTMENTS

August 31, 2020 (UNAUDITED)

 

The summary of inputs used to determine the fair valuation of the Fund’s investments as of August 31, 2020 is as follows:

 

   Value Inputs 
   LEVEL 1   LEVEL 2   LEVEL 3   Total 
Assets                    
Master Limited Partnership - Common Stocks  $79,714,700   $-   $-   $79,714,700 
Common Stocks   87,628,559    -    -    87,628,559 
Money Market Funds   261,387    -    -    261,387 
Total  $167,604,646   $-   $-   $167,604,646 
                     
Liabilities                    
Written Call Options  $(750)  $-   $-   $(750)
Total  $(750)  $-   $-   $(750)

 

The Fund did not hold any investments at any time during the reporting period in which significant unobservable inputs were used in determining fair value; therefore, no reconciliation of Level 3 securities is included for this reporting period.

 

For additional information regarding the accounting policies of the Spirit of America Investment Fund, Inc., refer to the most recent financial statements in the N-CSR filing at www.sec.gov.