Spirit
of
America
Energy
Fund
Schedule
of
Investments
August
31,
2023
(Unaudited)
Shares
Market
Value
Master
Limited
Partnerships
—
Partnership
Shares
45.43%
Exploration
&
Production
4.01%
Black
Stone
Minerals
LP
466,249
$
8,089,420
Viper
Energy
Partners
LP
19,700
548,054
8,637,474
Midstream
-
Oil
&
Gas
37.49%
Cheniere
Energy
Partners
LP
214,869
11,151,701
Crestwood
Equity
Partners
LP
8,000
228,800
Energy
Transfer
LP
734,370
9,891,964
Enterprise
Products
Partners
LP
504,136
13,415,059
Hess
Midstream
LP,
Class
A
234,837
6,786,789
Holly
Energy
Partners
LP
37,419
797,025
Magellan
Midstream
Partners
LP
210,515
13,982,406
MPLX
LP
417,397
14,562,982
Plains
All
American
Pipeline
LP
315,300
4,808,325
Plains
GP
Holdings
LP,
Class
A
(a)
26,000
417,040
Western
Midstream
Partners
LP
172,350
4,600,022
80,642,113
Oilfield
Services
&
Equipment
1.56%
USA
Compression
Partners
LP
157,784
3,348,176
Power
Generation
0.14%
NextEra
Energy
Partners
LP
6,150
306,762
Refining
&
Marketing
2.23%
Sunoco
LP
104,474
4,801,625
Total
Master
Limited
Partnerships
—
Partnership
Shares
(Cost $56,474,085)
97,736,150
Common
Stocks
55.37%
Exploration
&
Production
4.30%
Chesapeake
Energy
Corp.
4,000
352,840
CNX
Resources
Corp.
(a)
9,000
201,150
Devon
Energy
Corp.
8,000
408,720
Diamondback
Energy,
Inc.
4,400
667,832
EOG
Resources,
Inc.
3,350
430,877
Marathon
Oil
Corp.
54,773
1,443,269
Occidental
Petroleum
Corp.
6,000
376,740
Pioneer
Natural
Resources
Co.
22,600
5,377,218
9,258,646
Gas
Utilities
0.19%
UGI
Corp.
16,000
402,880
Spirit
of
America
Energy
Fund
Schedule
of
Investments
(continued)
August
31,
2023
(Unaudited)
Shares
Market
Value
Integrated
Electric
Utilities
0.38%
Dominion
Energy,
Inc.
2,000
$
97,080
Duke
Energy
Corp.
2,500
222,000
PPL
Corp.
20,250
504,630
823,710
Integrated
Oils
10.06%
BP
PLC ADR
80,361
2,987,822
Chevron
Corp.
78,880
12,707,568
Exxon
Mobil
Corp.
53,370
5,934,210
21,629,600
Midstream
-
Oil
&
Gas
20.96%
Antero
Midstream
Corp.
61,100
740,532
Cheniere
Energy,
Inc.
41,275
6,736,080
Enbridge,
Inc.
203,627
7,143,235
Kinder
Morgan,
Inc.
350,494
6,035,507
ONEOK,
Inc.
80,121
5,223,889
Targa
Resources
Corp.
40,400
3,484,500
TC
Energy
Corp.
57,428
2,074,299
Williams
Companies,
Inc.
(The)
395,532
13,657,720
45,095,762
Oilfield
Services
&
Equipment
0.73%
Baker
Hughes
Co.
42,000
1,519,980
Schlumberger
Ltd.
1,000
58,960
1,578,940
Refining
&
Marketing
18.75%
Marathon
Petroleum
Corp.
96,850
13,827,275
Phillips
66
122,886
14,028,665
Valero
Energy
Corp.
95,919
12,459,878
40,315,818
Total
Common
Stocks
(Cost $87,071,210)
119,105,356
Money
Market
Funds
0.13%
Morgan
Stanley
Institutional
Liquidity
Funds
Government
Portfolio,
Institutional
Class,
5.25%
(b)
281,247
281,247
Total
Money
Market
Funds
(Cost $281,247)
281,247
Total
Investments
—
100.93%
(Cost
$143,826,542)
217,122,753
Liabilities
in
Excess
of
Other
Assets
—
(0.93)%
(2,008,427)
NET
ASSETS
-
100.00%
$
215,114,326
(a)
Non-income
producing
security.
(b)
Rate
disclosed
is
the
seven
day
effective
yield
as
of
August
31,
2023.
Spirit
of
America
Energy
Fund
Schedule
of
Investments
(continued)
August
31,
2023
(Unaudited)
ADR
—
American
Depositary
Receipt