Spirit Of America Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
Agree Realty Corp.	STOCK	008492100	234	3,250	SH		SOLE		0	0	0
Alexandria Real Estate Equities, Inc.	STOCK	015271109	2,081	14,350	SH		SOLE		0	0	0
American Assets Trust, Inc.	STOCK	024013104	104	3,500	SH		SOLE		0	0	0
American Campus Communities, Inc.	STOCK	024835100	64	1,000	SH		SOLE		0	0	0
American Homes 4 Rent	STOCK	02665T306	533	15,050	SH		SOLE		0	0	0
American Tower Corp.	STOCK	03027X100	1,881	7,360	SH		SOLE		0	0	0
Americold Realty Trust	STOCK	03064D108	171	5,700	SH		SOLE		0	0	0
Apartment Income REIT Corp.	STOCK	03750L109	1,078	25,902	SH		SOLE		0	0	0
Apple Hospitality REIT, Inc.	STOCK	03784Y200	627	42,710	SH		SOLE		0	0	0
AvalonBay Communities, Inc.	STOCK	053484101	3,261	16,790	SH		SOLE		0	0	0
Black Stone Minerals, L.P.	STOCK	09225M101	226	16,500	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	766	27,700	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	301	3,300	SH		SOLE		0	0	0
Boston Properties, Inc.	STOCK	101121101	882	9,915	SH		SOLE		0	0	0
Brixmor Property Group, Inc.	STOCK	11120U105	1,020	50,475	SH		SOLE		0	0	0
Camden Property Trust	STOCK	133131102	1,856	13,800	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	583	13,000	SH		SOLE		0	0	0
City Office REIT, Inc.	STOCK	178587101	768	59,308	SH		SOLE		0	0	0
Cousins Properties, Inc.	STOCK	222795502	29	1,000	SH		SOLE		0	0	0
Crown Castle International Corp.	STOCK	22822V101	2,278	13,530	SH		SOLE		0	0	0
CubeSmart	STOCK	229663109	886	20,750	SH		SOLE		0	0	0
Digital Realty Trust, Inc.	STOCK	253868103	4,262	32,831	SH		SOLE		0	0	0
Duke Realy Corp.	STOCK	264411505	261	4,750	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	424	42,500	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	171	7,000	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	4,606	7,010	SH		SOLE		0	0	0
Equity LifeStyle Properties, Inc.	STOCK	29472R108	2,547	36,150	SH		SOLE		0	0	0
Equity Residential	STOCK	29476L107	2,218	30,715	SH		SOLE		0	0	0
Essex Property Trust, Inc.	STOCK	297178105	2,075	7,936	SH		SOLE		0	0	0
Extra Space Storage, Inc.	STOCK	30225T102	2,279	13,395	SH		SOLE		0	0	0
Federal Realty Investment Trust	STOCK	313745101	1,312	13,700	SH		SOLE		0	0	0
Four Corners Property Trust, Inc.	STOCK	35086T109	133	5,000	SH		SOLE		0	0	0
Gaming and Leisure Properties, Inc.	STOCK	36467J108	1,508	32,885	SH		SOLE		0	0	0
Getty Realty Corp.	STOCK	374297109	27	1,000	SH		SOLE		0	0	0
Gladstone Commercial Corp.	STOCK	376536108	424	22,500	SH		SOLE		0	0	0
Global Medical REIT, Inc.	STOCK	37954A204	168	15,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	179	4,717	SH		SOLE		0	0	0
Healthcare Trust of America, Inc.	STOCK	42225P501	279	10,000	SH		SOLE		0	0	0
Healthpeak Properties, Inc.	STOCK	42250P103	1,025	39,568	SH		SOLE		0	0	0
Hess Midstream LP	STOCK	428103105	28	1,000	SH		SOLE		0	0	0
Host Hotels & Resorts, Inc.	STOCK	44107P104	720	45,900	SH		SOLE		0	0	0
Hudson Pacific Properties, Inc.	STOCK	444097109	464	31,250	SH		SOLE		0	0	0
Innovative Industrial Properties, Inc.	STOCK	45781V101	2,890	26,300	SH		SOLE		0	0	0
Invitation Homes, Inc.	STOCK	46187W107	235	6,600	SH		SOLE		0	0	0
Iron Mountain, Inc.	STOCK	46284V101	1,071	22,000	SH		SOLE		0	0	0
Kilroy Realty Corp.	STOCK	49427F108	472	9,015	SH		SOLE		0	0	0
Kimco Realty Corp.	STOCK	49446R109	585	29,569	SH		SOLE		0	0	0
Lennar Corp.	STOCK	526057104	85	1,200	SH		SOLE		0	0	0
Lexington Realty Trust	STOCK	529043101	29	2,700	SH		SOLE		0	0	0
Life Storage, Inc.	STOCK	53223X107	2,886	25,850	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	204	7,000	SH		SOLE		0	0	0
Magellan Midstream Partners LP	STOCK	559080106	29	600	SH		SOLE		0	0	0
Medical Properties Trust, Inc.	STOCK	58463J304	450	29,500	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	3,200	18,322	SH		SOLE		0	0	0
National Retail Properties, Inc.	STOCK	637417106	763	17,750	SH		SOLE		0	0	0
Omega Healthcare Investors, Inc.	STOCK	681936100	254	9,000	SH		SOLE		0	0	0
One Liberty Properties, Inc.	STOCK	682406103	65	2,500	SH		SOLE		0	0	0
Orion Office REIT, Inc.	STOCK	68629Y103	31	2,848	SH		SOLE		0	0	0
Park Hotels & Resorts, Inc.	STOCK	700517105	126	9,250	SH		SOLE		0	0	0
Pebblebrook Hotel Trust	STOCK	70509V100	701	42,281	SH		SOLE		0	0	0
Physicians Realty Trust	STOCK	71943U104	277	15,850	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	49	5,000	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	31	3,000	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	10,856	92,270	SH		SOLE		0	0	0
Public Storage	STOCK	74460D109	2,837	9,075	SH		SOLE		0	0	0
Realty Income Corp.	STOCK	756109104	2,013	29,485	SH		SOLE		0	0	0
Regency Centers Corp.	STOCK	758849103	1,779	30,000	SH		SOLE		0	0	0
Rexford Industrial Realty, Inc.	STOCK	76169C100	806	14,000	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	2,971	31,300	SH		SOLE		0	0	0
STAG Industrial, Inc.	STOCK	85254J102	1,419	45,950	SH		SOLE		0	0	0
Starwood Property Trust, Inc.	STOCK	85571B105	606	29,000	SH		SOLE		0	0	0
STORE Capital Corp.	STOCK	862121100	78	3,000	SH		SOLE		0	0	0
Summit Hotel Properties, Inc.	STOCK	866082100	65	9,000	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	4,613	28,950	SH		SOLE		0	0	0
Sunstone Hotel Investors, Inc.	STOCK	867892101	156	15,700	SH		SOLE		0	0	0
Switch, Inc.	STOCK	87105L104	1,658	49,500	SH		SOLE		0	0	0
Tanger Factory Outlet Centers, Inc.	STOCK	875465106	357	25,100	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	274	4,600	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	2,335	41,900	SH		SOLE		0	0	0
Toll Brothers, Inc.	STOCK	889478103	161	3,600	SH		SOLE		0	0	0
UDR, Inc.	STOCK	902653104	2,168	47,100	SH		SOLE		0	0	0
UMH Properties, Inc.	STOCK	903002103	185	10,500	SH		SOLE		0	0	0
Ventas, Inc.	STOCK	92276F100	311	6,050	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	2,630	88,297	SH		SOLE		0	0	0
Viper Energy Partners LP	STOCK	92763M105	160	6,000	SH		SOLE		0	0	0
WP Carey, Inc.	STOCK	92936U109	2,142	25,850	SH		SOLE		0	0	0
Welltower, Inc.	STOCK	95040Q104	1,736	21,075	SH		SOLE		0	0	0
Western Midstream Partners LP	STOCK	958669103	67	2,750	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	109	3,300	SH		SOLE		0	0	0
AES Corp.	STOCK	00130H105	84	4,000	SH		SOLE		0	0	0
Abbott Laboratories	STOCK	002824100	337	3,100	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	3,547	23,157	SH		SOLE		0	0	0
Adobe Systems, Inc.	STOCK	00724F101	622	1,700	SH		SOLE		0	0	0
Advanced Micro Devices, Inc.	STOCK	007903107	161	2,100	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K305	4,010	1,840	SH		SOLE		0	0	0
Altria Group, Inc.	STOCK	02209S103	512	12,250	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	1,551	14,600	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	177	1,850	SH		SOLE		0	0	0
American Express Co.	STOCK	025816109	693	5,000	SH		SOLE		0	0	0
American Tower Corp.	STOCK	03027X100	266	1,040	SH		SOLE		0	0	0
Amgen, Inc.	STOCK	031162100	657	2,700	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	45	5,000	SH		SOLE		0	0	0
Apple, Inc.	STOCK	037833100	7,360	53,832	SH		SOLE		0	0	0
Applied Materials, Inc.	STOCK	038222105	1,430	15,720	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	253	8,750	SH		SOLE		0	0	0
Bank of America Corp.	STOCK	060505104	921	29,600	SH		SOLE		0	0	0
Berkshire Hathaway, Inc.	STOCK	084670702	1,029	3,770	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	1,026	11,250	SH		SOLE		0	0	0
Boeing Co./The	STOCK	097023105	459	3,355	SH		SOLE		0	0	0
Bristol-Myers Squibb Co.	STOCK	110122108	1,282	16,650	SH		SOLE		0	0	0
CF Industries Holdings, Inc.	STOCK	125269100	660	7,700	SH		SOLE		0	0	0
CME Group, Inc.	STOCK	12572Q105	287	1,404	SH		SOLE		0	0	0
CSX Corp.	STOCK	126408103	1,236	42,525	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	66	4,000	SH		SOLE		0	0	0
CVS Health Corp.	STOCK	126650100	705	7,611	SH		SOLE		0	0	0
The Carlyle Group, Inc.	STOCK	14316J108	192	6,050	SH		SOLE		0	0	0
Caterpillar, Inc.	STOCK	149123101	1,956	10,940	SH		SOLE		0	0	0
Centene Corp.	STOCK	15135B101	829	9,800	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	1,596	12,000	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	2,419	16,710	SH		SOLE		0	0	0
Cisco Systems, Inc.	STOCK	17275R102	736	17,250	SH		SOLE		0	0	0
Citigroup, Inc.	STOCK	172967424	791	17,200	SH		SOLE		0	0	0
Coca-Cola Co./The	STOCK	191216100	466	7,400	SH		SOLE		0	0	0
Cognizant Technology Solutions Corp.	STOCK	192446102	310	4,600	SH		SOLE		0	0	0
Colgate-Palmolive Co.	STOCK	194162103	120	1,500	SH		SOLE		0	0	0
ConAgra Foods, Inc.	STOCK	205887102	243	7,100	SH		SOLE		0	0	0
ConocoPhillips	STOCK	20825C104	925	10,300	SH		SOLE		0	0	0
Constellation Brands, Inc.	STOCK	21036P108	280	1,200	SH		SOLE		0	0	0
Continental Resources, Inc.	STOCK	212015101	65	1,000	SH		SOLE		0	0	0
Corning, Inc.	STOCK	219350105	315	10,000	SH		SOLE		0	0	0
Corteva, Inc.	STOCK	22052L104	392	7,233	SH		SOLE		0	0	0
Costco Wholesale Corp.	STOCK	22160K105	2,900	6,051	SH		SOLE		0	0	0
Crowdstrike Holdings, Inc.	STOCK	22788C105	569	3,375	SH		SOLE		0	0	0
Crown Castle International Corp.	STOCK	22822V101	453	2,690	SH		SOLE		0	0	0
Cummins, Inc.	STOCK	231021106	687	3,550	SH		SOLE		0	0	0
Deere & Co.	STOCK	244199105	1,658	5,535	SH		SOLE		0	0	0
Dell Technolodies, Inc.	STOCK	24703L202	75	1,624	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	441	8,000	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	321	2,650	SH		SOLE		0	0	0
Walt Disney Co./The	STOCK	254687106	1,789	18,950	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	958	12,000	SH		SOLE		0	0	0
Dow, Inc.	STOCK	260557103	314	6,083	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	102	950	SH		SOLE		0	0	0
DuPont de Nemours, Inc.	STOCK	26614N102	361	6,500	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	403	3,650	SH		SOLE		0	0	0
Edison International	STOCK	281020107	133	2,100	SH		SOLE		0	0	0
Edwards LifeSciences Corp.	STOCK	28176E108	285	3,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	127	3,000	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	936	1,425	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	629	7,350	SH		SOLE		0	0	0
FedEx Corp.	STOCK	31428X106	1,122	4,950	SH		SOLE		0	0	0
Goldman Sachs Group, Inc./The	STOCK	38141G104	866	2,915	SH		SOLE		0	0	0
HP, Inc.	STOCK	40434L105	511	15,600	SH		SOLE		0	0	0
Halliburton Co.	STOCK	406216101	125	4,000	SH		SOLE		0	0	0
Home Depot, Inc./The	STOCK	437076102	1,903	6,938	SH		SOLE		0	0	0
Honeywell International, Inc.	STOCK	438516106	1,443	8,300	SH		SOLE		0	0	0
Humana, Inc.	STOCK	444859102	632	1,350	SH		SOLE		0	0	0
International Business Machines Corp.	STOCK	459200101	377	2,668	SH		SOLE		0	0	0
International Paper Co.	STOCK	460146103	21	500	SH		SOLE		0	0	0
JPMorgan Chase & Co.	STOCK	46625H100	2,364	20,992	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	381	22,750	SH		SOLE		0	0	0
Kroger Co./The	STOCK	501044101	426	9,000	SH		SOLE		0	0	0
Lamb Weston Holdings, Inc.	STOCK	513272104	307	4,300	SH		SOLE		0	0	0
Lennar Corp.	STOCK	526057104	71	1,000	SH		SOLE		0	0	0
Eli Lilly & Co.	STOCK	532457108	438	1,350	SH		SOLE		0	0	0
Lowe's Cos., Inc.	STOCK	548661107	306	1,750	SH		SOLE		0	0	0
Marathon Oil Corp.	STOCK	565849106	22	1,000	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	21	250	SH		SOLE		0	0	0
Masco Corp.	STOCK	574599106	531	10,500	SH		SOLE		0	0	0
MasterCard, Inc.	STOCK	57636Q104	757	2,400	SH		SOLE		0	0	0
McDonald's Corp.	STOCK	580135101	785	3,180	SH		SOLE		0	0	0
McKesson Corp.	STOCK	58155Q103	767	2,350	SH		SOLE		0	0	0
Merck & Co., Inc.	STOCK	58933Y105	1,673	18,350	SH		SOLE		0	0	0
Microsoft Corp.	STOCK	594918104	5,635	21,939	SH		SOLE		0	0	0
Microchip Technology, Inc.	STOCK	595017104	375	6,450	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	87	500	SH		SOLE		0	0	0
Moderna, Inc.	STOCK	60770K107	143	1,000	SH		SOLE		0	0	0
Morgan Stanley	STOCK	617446448	228	3,000	SH		SOLE		0	0	0
NetApp, Inc.	STOCK	64110D104	170	2,600	SH		SOLE		0	0	0
Netflix, Inc.	STOCK	64110L106	184	1,050	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	2,217	28,625	SH		SOLE		0	0	0
NIKE, Inc.	STOCK	654106103	112	1,100	SH		SOLE		0	0	0
NortonLifeLock, Inc.	STOCK	668771108	608	27,700	SH		SOLE		0	0	0
NVIDIA Corp.	STOCK	67066G104	5,395	35,592	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	324	5,500	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	111	2,000	SH		SOLE		0	0	0
Oracle Corp.	STOCK	68389X105	1,983	28,375	SH		SOLE		0	0	0
Paychex, Inc.	STOCK	704326107	438	3,850	SH		SOLE		0	0	0
PepsiCo, Inc.	STOCK	713448108	400	2,400	SH		SOLE		0	0	0
Pfizer, Inc.	STOCK	717081103	427	8,150	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	676	6,850	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	594	7,250	SH		SOLE		0	0	0
Pioneer Natural Resources Co.	STOCK	723787107	1,082	4,850	SH		SOLE		0	0	0
Procter & Gamble Co./The	STOCK	742718109	1,045	7,265	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	935	7,950	SH		SOLE		0	0	0
QUALCOMM, Inc.	STOCK	747525103	453	3,550	SH		SOLE		0	0	0
Quest Diagnostics, Inc.	STOCK	74834L100	598	4,500	SH		SOLE		0	0	0
Raytheon Technologies Corp.	STOCK	75513E101	202	2,100	SH		SOLE		0	0	0
SVB Financial Group	STOCK	78486Q101	1,174	2,973	SH		SOLE		0	0	0
Schlumberger Ltd.	STOCK	806857108	18	500	SH		SOLE		0	0	0
Signature Bank	STOCK	82669G104	1,304	7,275	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	66	700	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	590	3,700	SH		SOLE		0	0	0
Sylvamo Corp.	STOCK	871332102	1	45	SH		SOLE		0	0	0
Target Corp.	STOCK	87612E106	1,671	11,830	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	215	3,600	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	26	500	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	116	2,075	SH		SOLE		0	0	0
Texas Instruments, Inc.	STOCK	882508104	1,809	11,775	SH		SOLE		0	0	0
Thermo Fisher Scientific, Inc.	STOCK	883556102	809	1,490	SH		SOLE		0	0	0
Union Pacific Corp.	STOCK	907818108	160	750	SH		SOLE		0	0	0
United Parcel Service, Inc.	STOCK	911312106	411	2,250	SH		SOLE		0	0	0
UnitedHealth Group, Inc.	STOCK	91324P102	1,220	2,375	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	1,761	16,565	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	1,448	28,540	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	92	3,073	SH		SOLE		0	0	0
Visa, Inc.	STOCK	92826C839	1,408	7,150	SH		SOLE		0	0	0
WEC Energy Group, Inc.	STOCK	92939U106	825	8,200	SH		SOLE		0	0	0
Wal-Mart Stores, Inc.	STOCK	931142103	1,664	13,684	SH		SOLE		0	0	0
Waste Connections, Inc.	STOCK	94106B101	1,633	13,175	SH		SOLE		0	0	0
Wells Fargo & Co.	STOCK	949746101	255	6,500	SH		SOLE		0	0	0
WestRock Co.	STOCK	96145D105	20	500	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	17	500	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	1,717	55,000	SH		SOLE		0	0	0
Workday, Inc.	STOCK	98138H101	1,212	8,680	SH		SOLE		0	0	0
Accenture PLC	STOCK	G1151C101	1,201	4,325	SH		SOLE		0	0	0
Johnson Controls International PLC	STOCK	G51502105	395	8,253	SH		SOLE		0	0	0
Linde Public Limited Company	STOCK	G5494J103	403	1,400	SH		SOLE		0	0	0
Medtronic PLC	STOCK	G5960L103	634	7,069	SH		SOLE		0	0	0
Garmin Ltd.	STOCK	H2906T109	157	1,600	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	1,685	11,000	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	320	11,565	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	342	3,750	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	1,231	8,500	SH		SOLE		0	0	0
Citigroup, Inc.	STOCK	172967424	345	7,500	SH		SOLE		0	0	0
City Office REIT, Inc.	STOCK	178587101	130	10,000	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	536	5,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	1,258	29,763	SH		SOLE		0	0	0
Gilead Sciences, Inc.	STOCK	375558103	185	3,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	379	10,000	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	670	40,000	SH		SOLE		0	0	0
Medical Properties Trust, Inc.	STOCK	58463J304	76	5,000	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	1,086	11,000	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	656	8,000	SH		SOLE		0	0	0
Physicians Realty Trust	STOCK	71943U104	35	2,000	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	285	3,000	SH		SOLE		0	0	0
Spirit Realty Capital, Inc.	STOCK	84860W300	151	4,000	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	1,064	20,536	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	531	5,000	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	761	15,000	SH		SOLE		0	0	0
Warner Bros Discovery, Inc.	STOCK	934423104	0	19	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	1,326	42,500	SH		SOLE		0	0	0
AT&T, Inc.	STOCK	00206R102	86	4,114	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	613	4,000	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K107	416	190	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K305	545	250	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	372	3,500	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	111	1,155	SH		SOLE		0	0	0
Apple, Inc.	STOCK	037833100	444	3,250	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	89	3,207	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	502	5,500	SH		SOLE		0	0	0
Caterpillar, Inc.	STOCK	149123101	125	700	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	103	2,300	SH		SOLE		0	0	0
Citigroup, Inc.	STOCK	172967424	161	3,500	SH		SOLE		0	0	0
Crowdstrike Holdings, Inc.	STOCK	22788C105	59	350	SH		SOLE		0	0	0
Deere & Co.	STOCK	244199105	344	1,150	SH		SOLE		0	0	0
Walt Disney Co./The	STOCK	254687106	94	1,000	SH		SOLE		0	0	0
Dow, Inc.	STOCK	260557103	52	1,000	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	107	1,000	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	173	17,350	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	263	10,805	SH		SOLE		0	0	0
Fifth Third Bancorp	STOCK	316773100	114	3,400	SH		SOLE		0	0	0
Home Depot, Inc./The	STOCK	437076102	274	1,000	SH		SOLE		0	0	0
Honeywell International, Inc.	STOCK	438516106	96	550	SH		SOLE		0	0	0
JPMorgan Chase & Co.	STOCK	46625H100	113	1,000	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	126	7,500	SH		SOLE		0	0	0
Lennar Corp.	STOCK	526057104	198	2,800	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	258	8,850	SH		SOLE		0	0	0
Magellan Midstream Partners LP	STOCK	559080106	130	2,725	SH		SOLE		0	0	0
MasterCard, Inc.	STOCK	57636Q104	63	200	SH		SOLE		0	0	0
Microsoft Corp.	STOCK	594918104	514	2,000	SH		SOLE		0	0	0
NVIDIA Corp.	STOCK	67066G104	1,240	8,180	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	353	3,000	SH		SOLE		0	0	0
ProShares Short S&P 500 ETF	STOCK	74347B425	165	10,000	SH		SOLE		0	0	0
Starwood Property Trust, Inc.	STOCK	85571B105	87	4,175	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	114	714	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	390	7,000	SH		SOLE		0	0	0
Uber Technologies, Inc.	STOCK	90353T100	82	4,000	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	254	5,000	SH		SOLE		0	0	0
Viper Energy Partners LP	STOCK	92763M105	85	3,200	SH		SOLE		0	0	0
Visa, Inc.	STOCK	92826C839	69	350	SH		SOLE		0	0	0
WP Carey, Inc.	STOCK	92936U109	111	1,340	SH		SOLE		0	0	0
Welltower, Inc.	STOCK	95040Q104	96	1,160	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	78	2,500	SH		SOLE		0	0	0
Algonquin Power & Utilities Corp.	STOCK	015857105	181	13,500	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	517	57,100	SH		SOLE		0	0	0
BP PLC	STOCK	055622104	2,307	81,361	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	1,285	44,500	SH		SOLE		0	0	0
Black Stone Minerals, L.P.	STOCK	09225M101	6,102	445,749	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	148	9,000	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	9,798	218,369	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	4,899	36,825	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	12,890	89,030	SH		SOLE		0	0	0
Continental Resources, Inc.	STOCK	212015101	98	1,500	SH		SOLE		0	0	0
Crestwood Equity Partners LP	STOCK	226344208	193	8,000	SH		SOLE		0	0	0
DCP Midstream LP	STOCK	23311P100	2,369	80,100	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	413	7,500	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	321	2,650	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	2,956	37,042	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	322	3,000	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	287	2,600	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	9,377	221,877	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	6,785	679,870	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	12,371	507,636	SH		SOLE		0	0	0
Enviva, Inc.	STOCK	29415B103	154	2,700	SH		SOLE		0	0	0
Eversource Energy	STOCK	30040W108	165	1,950	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	4,249	49,620	SH		SOLE		0	0	0
Hess Midstream LP	STOCK	428103105	6,547	233,837	SH		SOLE		0	0	0
Holly Energy Partners LP	STOCK	435763107	600	37,419	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	6,528	389,494	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	12,400	425,397	SH		SOLE		0	0	0
Magellan Midstream Partners LP	STOCK	559080106	10,723	224,515	SH		SOLE		0	0	0
Marathon Oil Corp.	STOCK	565849106	1,175	52,273	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	8,215	99,921	SH		SOLE		0	0	0
NextEra Energy Partners LP	STOCK	65341B106	456	6,150	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	294	5,000	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	6,073	109,421	SH		SOLE		0	0	0
PPL Corp.	STOCK	69351T106	549	20,250	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	11,313	137,986	SH		SOLE		0	0	0
Pioneer Natural Resources Co.	STOCK	723787107	4,991	22,372	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	2,573	262,000	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	31	3,000	SH		SOLE		0	0	0
Schlumberger Ltd.	STOCK	806857108	36	1,000	SH		SOLE		0	0	0
SolarEdge Technologies, Inc.	STOCK	83417M104	246	900	SH		SOLE		0	0	0
Sunoco LP	STOCK	86765K109	3,817	102,474	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	1,498	25,100	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	6,136	118,428	SH		SOLE		0	0	0
UGI Corp.	STOCK	902681105	2,565	66,422	SH		SOLE		0	0	0
USA Compression Partners LP	STOCK	90290N109	2,580	154,284	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	10,290	96,819	SH		SOLE		0	0	0
Viper Energy Partners LP	STOCK	92763M105	454	17,000	SH		SOLE		0	0	0
Western Midstream Partners LP	STOCK	958669103	3,351	137,850	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	13,866	444,282	SH		SOLE		0	0	0
Brookfield Renewable Partners LP	STOCK	G16258108	1,355	38,925	SH		SOLE		0	0	0