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	480,035	7,750	SH		SOLE		0	0	0
Alexandria Real Estate Equities, Inc.	STOCK	015271109	690,123	5,900	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	637,725	3,300	SH		SOLE		0	0	0
American Homes 4 Rent	STOCK	02665T306	1,311,748	35,300	SH		SOLE		0	0	0
American Tower Corp.	STOCK	03027X100	334,334	1,720	SH		SOLE		0	0	0
Americold Realty Trust	STOCK	03064D108	94,498	3,700	SH		SOLE		0	0	0
Apple Hospitality REIT, Inc.	STOCK	03784Y200	519,223	35,710	SH		SOLE		0	0	0
AvalonBay Communities, Inc.	STOCK	053484101	3,101,281	14,990	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	90,584	5,200	SH		SOLE		0	0	0
Boston Properties, Inc.	STOCK	101121101	394,907	6,415	SH		SOLE		0	0	0
Brixmor Property Group, Inc.	STOCK	11120U105	957,658	41,475	SH		SOLE		0	0	0
Camden Property Trust	STOCK	133131102	1,025,634	9,400	SH		SOLE		0	0	0
CareTrust REIT, Inc.	STOCK	14174T107	125,500	5,000	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	79,214	1,613	SH		SOLE		0	0	0
COPT Defense Properties	STOCK	22002T108	50,060	2,000	SH		SOLE		0	0	0
Cousins Properties, Inc.	STOCK	222795502	150,475	6,500	SH		SOLE		0	0	0
Crown Castle International Corp.	STOCK	22822V101	248,158	2,540	SH		SOLE		0	0	0
CubeSmart	STOCK	229663109	878,557	19,450	SH		SOLE		0	0	0
D.R. Horton, Inc.	STOCK	23331A109	140,930	1,000	SH		SOLE		0	0	0
Digital Realty Trust, Inc.	STOCK	253868103	3,859,181	25,381	SH		SOLE		0	0	0
DigitalBridge Group, Inc.	STOCK	25401T603	328,800	24,000	SH		SOLE		0	0	0
Empire State Realty Trust, Inc.	STOCK	292104106	9,380	1,000	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	324,400	20,000	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	173,880	6,000	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	4,660,656	6,160	SH		SOLE		0	0	0
Equity LifeStyle Properties, Inc.	STOCK	29472R108	1,403,552	21,550	SH		SOLE		0	0	0
Equity Residential	STOCK	29476L107	2,129,778	30,715	SH		SOLE		0	0	0
Essex Property Trust, Inc.	STOCK	297178105	1,615,779	5,936	SH		SOLE		0	0	0
Extra Space Storage, Inc.	STOCK	30225T102	2,374,665	15,280	SH		SOLE		0	0	0
Federal Realty Investment Trust	STOCK	313745101	979,409	9,700	SH		SOLE		0	0	0
Four Corners Property Trust, Inc.	STOCK	35086T109	123,350	5,000	SH		SOLE		0	0	0
Gaming and Leisure Properties, Inc.	STOCK	36467J108	1,328,496	29,385	SH		SOLE		0	0	0
Getty Realty Corp.	STOCK	374297109	26,660	1,000	SH		SOLE		0	0	0
Global Medical REIT, Inc.	STOCK	37954A204	136,200	15,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	21,223	717	SH		SOLE		0	0	0
Healthcare Realty Trust, Inc.	STOCK	42226K105	164,800	10,000	SH		SOLE		0	0	0
Healthpeak Properties, Inc.	STOCK	42250P103	369,832	18,869	SH		SOLE		0	0	0
Host Hotels & Resorts, Inc.	STOCK	44107P104	879,222	48,900	SH		SOLE		0	0	0
Hudson Pacific Properties, Inc.	STOCK	444097109	52,910	11,000	SH		SOLE		0	0	0
Invitation Homes, Inc.	STOCK	46187W107	179,450	5,000	SH		SOLE		0	0	0
Iron Mountain, Inc.	STOCK	46284V101	3,203,915	35,750	SH		SOLE		0	0	0
Kilroy Realty Corp.	STOCK	49427F108	132,940	4,265	SH		SOLE		0	0	0
Kimco Realty Corp.	STOCK	49446R109	497,573	25,569	SH		SOLE		0	0	0
Lennar Corp.	STOCK	526057104	138,630	925	SH		SOLE		0	0	0
Lexington Realty Trust	STOCK	529043101	24,624	2,700	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	191,655	4,500	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	1,037,060	7,272	SH		SOLE		0	0	0
National Retail Properties, Inc.	STOCK	637417106	756,150	17,750	SH		SOLE		0	0	0
NET Lease Office Properties	STOCK	64110Y108	46,097	1,872	SH		SOLE		0	0	0
Omega Healthcare Investors, Inc.	STOCK	681936100	496,625	14,500	SH		SOLE		0	0	0
One Liberty Properties, Inc.	STOCK	682406103	58,700	2,500	SH		SOLE		0	0	0
Park Hotels & Resorts, Inc.	STOCK	700517105	138,565	9,250	SH		SOLE		0	0	0
Pebblebrook Hotel Trust	STOCK	70509V100	65,739	4,781	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	35,720	2,000	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	56,460	3,000	SH		SOLE		0	0	0
Plymouth Industrial REIT Inc.	STOCK	729640102	32,070	1,500	SH		SOLE		0	0	0
Postal Realty Trust, Inc.	STOCK	73757R102	39,990	3,000	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	3,683,880	32,801	SH		SOLE		0	0	0
Public Storage	STOCK	74460D109	2,581,659	8,975	SH		SOLE		0	0	0
Realty Income Corp.	STOCK	756109104	1,372,528	25,985	SH		SOLE		0	0	0
Regency Centers Corp.	STOCK	758849103	833,480	13,400	SH		SOLE		0	0	0
Rexford Industrial Realty, Inc.	STOCK	76169C100	802,620	18,000	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	2,049,300	13,500	SH		SOLE		0	0	0
STAG Industrial, Inc.	STOCK	85254J102	1,656,957	45,950	SH		SOLE		0	0	0
Starwood Property Trust, Inc.	STOCK	85571B105	132,580	7,000	SH		SOLE		0	0	0
Summit Hotel Properties, Inc.	STOCK	866082100	35,940	6,000	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	1,287,638	10,700	SH		SOLE		0	0	0
Sunstone Hotel Investors, Inc.	STOCK	867892101	164,222	15,700	SH		SOLE		0	0	0
Tanger Factory Outlet Centers, Inc.	STOCK	875465106	298,210	11,000	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	2,390,872	40,400	SH		SOLE		0	0	0
Toll Brothers, Inc.	STOCK	889478103	135,337	1,175	SH		SOLE		0	0	0
UDR, Inc.	STOCK	902653104	1,835,290	44,600	SH		SOLE		0	0	0
Ventas, Inc.	STOCK	92276F100	412,643	8,050	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	155,826	1,800	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	2,500,186	87,297	SH		SOLE		0	0	0
WP Carey, Inc.	STOCK	92936U109	836,760	15,200	SH		SOLE		0	0	0
Welltower, Inc.	STOCK	95040Q104	3,666,994	35,175	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	150,467	5,300	SH		SOLE		0	0	0
INVESCO DISCOVERY FUND CL Y MF	MUTUAL FUND	00141G625	441,431	3,779	SH		SOLE		0	0	0
ALGER CAP APPRECIATION INST CL I MF	MUTUAL FUND	015570401	157,272	3,687	SH		SOLE		0	0	0
AB LARGE CAP GROWTH CL ADV MF	MUTUAL FUND	01877C408	631,003	5,678	SH		SOLE		0	0	0
AMERICAN BALANCED CL F-2 MF	MUTUAL FUND	024071821	690,173	19,988	SH		SOLE		0	0	0
BAIRD ULTRA SHORT BOND CL INST MF	MUTUAL FUND	057071722	288,427	28,557	SH		SOLE		0	0	0
COLUMBIA DIVIDEND INCM CL I MF	MUTUAL FUND	19765N245	61,917	1,906	SH		SOLE		0	0	0
FIDELITY ADVISOR EQY GRWTH CL I MF	MUTUAL FUND	315805101	150,199	6,163	SH		SOLE		0	0	0
FIDELITY MSCI FINANCIALS INDX ETF	ETF	316092501	159,497	2,753	SH		SOLE		0	0	0
FIRST TR LRG CP GRW ALPHADEX ETF	ETF	33735K108	158,614	1,294	SH		SOLE		0	0	0
GABELLI UTILITIES CL A MF	MUTUAL FUND	36240E202	7,251	1,371	SH		SOLE		0	0	0
INVSC QQQ TRUST SRS 1 ETF	ETF	46090E103	157,627	329	SH		SOLE		0	0	0
ISHARES 7-10 YEAR TRSURY BOND ETF	ETF	464287440	619,279	6,613	SH		SOLE		0	0	0
ISHARES CORE S&P MID CAP ETF	ETF	464287507	511,500	8,741	SH		SOLE		0	0	0
ISHARES RUSSELL TOP 200 ETF	ETF	464289446	396,662	2,961	SH		SOLE		0	0	0
ISHARES MSCI USA MOMNTUM FCT ETF	ETF	46432F396	158,835	815	SH		SOLE		0	0	0
ISHARES CORE 1-5 YEAR USD BOND ETF	ETF	46432F859	335,407	7,081	SH		SOLE		0	0	0
ISHARES INVEST GRD SYS BND ETF	ETF	46435G219	285,545	6,437	SH		SOLE		0	0	0
DELAWARE IVY MD CP GR CL I	MUTUAL FUND	466001609	4,256	139	SH		SOLE		0	0	0
MFS GROWTH CL I MF	MUTUAL FUND	552985863	157,110	734	SH		SOLE		0	0	0
T. ROWE PRICE BLUE CHIP GRW MF	MUTUAL FUND	77954Q106	62,415	335	SH		SOLE		0	0	0
SPDR S&P 500 GROWTH ETF	ETF	78464A409	61,860	772	SH		SOLE		0	0	0
SPDR PORTFOLIO S&P 600 SMALL CAP ETF	ETF	78468R853	175	4	SH		SOLE		0	0	0
SELECT SECTOR UTI SELECT SPDR ETF	ETF	81369Y886	331,701	4,868	SH		SOLE		0	0	0
SPIRIT OF AMERICA ENERGY MF	MUTUAL FUND	848579207	19,171	1,534	SH		SOLE		0	0	0
THRIVENT LARGE CAP VALUE CL S MF	MUTUAL FUND	885882811	335,231	11,253	SH		SOLE		0	0	0
VANGUARD DIVIDEND APPRECIATION ETF	ETF	921908844	682,049	3,736	SH		SOLE		0	0	0
VANGUARD LONG TERM BOND ETF	ETF	921937793	283,665	4,036	SH		SOLE		0	0	0
VANGUARD HEALTH CARE ETF	ETF	92204A504	158,442	596	SH		SOLE		0	0	0
VANGUARD S&P 500 ETF	ETF	922908363	351,527	703	SH		SOLE		0	0	0
VIRTUS INCOME AND GROWTH CL A MF	MUTUAL FUND	92837N584	18,599	1,688	SH		SOLE		0	0	0
WASHINGTON MUTUAL INVS CL F 2 MF	MUTUAL FUND	939330825	687,202	11,389	SH		SOLE		0	0	0
AES Corp.	STOCK	00130H105	122,990	7,000	SH		SOLE		0	0	0
AT&T, Inc.	STOCK	00206R102	181,545	9,500	SH		SOLE		0	0	0
Abbott Laboratories	STOCK	002824100	322,121	3,100	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	4,177,713	24,357	SH		SOLE		0	0	0
Adobe Systems, Inc.	STOCK	00724F101	694,425	1,250	SH		SOLE		0	0	0
Advanced Micro Devices, Inc.	STOCK	007903107	1,119,249	6,900	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K107	412,695	2,250	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K305	8,087,460	44,400	SH		SOLE		0	0	0
Altria Group, Inc.	STOCK	02209S103	576,208	12,650	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	4,879,563	25,250	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	162,319	1,850	SH		SOLE		0	0	0
American Express Co.	STOCK	025816109	1,157,750	5,000	SH		SOLE		0	0	0
Amgen, Inc.	STOCK	031162100	156,225	500	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	73,700	5,000	SH		SOLE		0	0	0
Apple, Inc.	STOCK	037833100	9,768,977	46,382	SH		SOLE		0	0	0
Applied Materials, Inc.	STOCK	038222105	3,355,778	14,220	SH		SOLE		0	0	0
ARM Holdings PLC	STOCK	042068205	32,724	200	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	237,398	6,750	SH		SOLE		0	0	0
Bank of America Corp.	STOCK	060505104	988,285	24,850	SH		SOLE		0	0	0
Berkshire Hathaway, Inc.	STOCK	084670702	1,614,996	3,970	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	1,429,890	11,550	SH		SOLE		0	0	0
Boeing Co./The	STOCK	097023105	574,242	3,155	SH		SOLE		0	0	0
Bristol-Myers Squibb Co.	STOCK	110122108	649,945	15,650	SH		SOLE		0	0	0
Broadcom, Inc.	STOCK	11135F101	232,802	145	SH		SOLE		0	0	0
CF Industries Holdings, Inc.	STOCK	125269100	607,784	8,200	SH		SOLE		0	0	0
CME Group, Inc.	STOCK	12572Q105	276,026	1,404	SH		SOLE		0	0	0
CSX Corp.	STOCK	126408103	1,224,270	36,600	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	97,200	4,000	SH		SOLE		0	0	0
CVS Health Corp.	STOCK	126650100	106,958	1,811	SH		SOLE		0	0	0
The Carlyle Group, Inc.	STOCK	14316J108	242,908	6,050	SH		SOLE		0	0	0
Caterpillar, Inc.	STOCK	149123101	3,827,319	11,490	SH		SOLE		0	0	0
Centene Corp.	STOCK	15135B101	483,990	7,300	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	1,687,110	9,650	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	2,074,129	13,260	SH		SOLE		0	0	0
Chipotle Mexican Grill, Inc.	STOCK	169656105	3,633,700	58,000	SH		SOLE		0	0	0
Cisco Systems, Inc.	STOCK	17275R102	795,793	16,750	SH		SOLE		0	0	0
Citigroup, Inc.	STOCK	172967424	1,186,702	18,700	SH		SOLE		0	0	0
Coca-Cola Co./The	STOCK	191216100	483,740	7,600	SH		SOLE		0	0	0
Cognizant Technology Solutions Corp.	STOCK	192446102	312,800	4,600	SH		SOLE		0	0	0
Coinbase Global, Inc.	STOCK	19260Q107	33,335	150	SH		SOLE		0	0	0
Colgate-Palmolive Co.	STOCK	194162103	145,560	1,500	SH		SOLE		0	0	0
ConAgra Foods, Inc.	STOCK	205887102	144,942	5,100	SH		SOLE		0	0	0
ConocoPhillips	STOCK	20825C104	606,214	5,300	SH		SOLE		0	0	0
Constellation Brands, Inc.	STOCK	21036P108	360,192	1,400	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	320,432	1,600	SH		SOLE		0	0	0
Corning, Inc.	STOCK	219350105	310,800	8,000	SH		SOLE		0	0	0
Corteva, Inc.	STOCK	22052L104	390,148	7,233	SH		SOLE		0	0	0
Costco Wholesale Corp.	STOCK	22160K105	5,763,782	6,781	SH		SOLE		0	0	0
Crowdstrike Holdings, Inc.	STOCK	22788C105	823,859	2,150	SH		SOLE		0	0	0
Cummins, Inc.	STOCK	231021106	983,102	3,550	SH		SOLE		0	0	0
Deere & Co.	STOCK	244199105	2,394,968	6,410	SH		SOLE		0	0	0
Dell Technolodies, Inc.	STOCK	24703L202	223,966	1,624	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	227,520	4,800	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	530,504	2,650	SH		SOLE		0	0	0
Digital Realty Trust, Inc.	STOCK	253868103	402,933	2,650	SH		SOLE		0	0	0
DigitalBridge Group, Inc.	STOCK	25401T603	150,700	11,000	SH		SOLE		0	0	0
Walt Disney Co./The	STOCK	254687106	2,045,374	20,600	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	563,500	11,500	SH		SOLE		0	0	0
Dow, Inc.	STOCK	260557103	322,703	6,083	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	180,414	1,800	SH		SOLE		0	0	0
DuPont de Nemours, Inc.	STOCK	26614N102	523,185	6,500	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	553,828	4,400	SH		SOLE		0	0	0
Edison International	STOCK	281020107	186,706	2,600	SH		SOLE		0	0	0
Edwards LifeSciences Corp.	STOCK	28176E108	277,110	3,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	71,180	2,000	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	885,222	1,170	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	2,654,437	23,058	SH		SOLE		0	0	0
Meta Platforms, Inc.	STOCK	30303M102	365,560	725	SH		SOLE		0	0	0
FedEx Corp.	STOCK	31428X106	539,712	1,800	SH		SOLE		0	0	0
Goldman Sachs Group, Inc./The	STOCK	38141G104	1,228,049	2,715	SH		SOLE		0	0	0
HP, Inc.	STOCK	40434L105	17,510	500	SH		SOLE		0	0	0
Halliburton Co.	STOCK	406216101	84,450	2,500	SH		SOLE		0	0	0
Home Depot, Inc./The	STOCK	437076102	2,112,945	6,138	SH		SOLE		0	0	0
Honeywell International, Inc.	STOCK	438516106	1,900,506	8,900	SH		SOLE		0	0	0
Humana, Inc.	STOCK	444859102	504,428	1,350	SH		SOLE		0	0	0
ITT, Inc.	STOCK	45073V108	38,754	300	SH		SOLE		0	0	0
International Business Machines Corp.	STOCK	459200101	461,431	2,668	SH		SOLE		0	0	0
JPMorgan Chase & Co.	STOCK	46625H100	4,286,294	21,192	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	153,993	7,750	SH		SOLE		0	0	0
Kroger Co./The	STOCK	501044101	449,370	9,000	SH		SOLE		0	0	0
Lamb Weston Holdings, Inc.	STOCK	513272104	151,344	1,800	SH		SOLE		0	0	0
Eli Lilly & Co.	STOCK	532457108	3,046,604	3,365	SH		SOLE		0	0	0
Lockheed Martin Corp.	STOCK	539830109	303,615	650	SH		SOLE		0	0	0
Lowe's Cos., Inc.	STOCK	548661107	749,564	3,400	SH		SOLE		0	0	0
Marathon Oil Corp.	STOCK	565849106	14,335	500	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	199,502	1,150	SH		SOLE		0	0	0
Masco Corp.	STOCK	574599106	566,695	8,500	SH		SOLE		0	0	0
MasterCard, Inc.	STOCK	57636Q104	1,058,784	2,400	SH		SOLE		0	0	0
McDonald's Corp.	STOCK	580135101	657,487	2,580	SH		SOLE		0	0	0
McKesson Corp.	STOCK	58155Q103	2,829,674	4,845	SH		SOLE		0	0	0
Merck & Co., Inc.	STOCK	58933Y105	2,271,730	18,350	SH		SOLE		0	0	0
Microsoft Corp.	STOCK	594918104	8,715,078	19,499	SH		SOLE		0	0	0
Microchip Technology, Inc.	STOCK	595017104	590,175	6,450	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	35,653	250	SH		SOLE		0	0	0
Morgan Stanley	STOCK	617446448	291,570	3,000	SH		SOLE		0	0	0
NetApp, Inc.	STOCK	64110D104	334,880	2,600	SH		SOLE		0	0	0
Netflix, Inc.	STOCK	64110L106	674,880	1,000	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	1,559,590	22,025	SH		SOLE		0	0	0
NIKE, Inc.	STOCK	654106103	52,759	700	SH		SOLE		0	0	0
Gen Digital, Inc.	STOCK	668771108	617,006	24,700	SH		SOLE		0	0	0
NVIDIA Corp.	STOCK	67066G104	31,177,790	252,370	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	409,695	6,500	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	163,100	2,000	SH		SOLE		0	0	0
Oracle Corp.	STOCK	68389X105	3,794,750	26,875	SH		SOLE		0	0	0
Palo Alto Networks, Inc.	STOCK	697435105	830,575	2,450	SH		SOLE		0	0	0
Paychex, Inc.	STOCK	704326107	456,456	3,850	SH		SOLE		0	0	0
PepsiCo, Inc.	STOCK	713448108	395,832	2,400	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	486,384	4,800	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	1,023,483	7,250	SH		SOLE		0	0	0
Procter & Gamble Co./The	STOCK	742718109	1,198,144	7,265	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	707,553	6,300	SH		SOLE		0	0	0
QUALCOMM, Inc.	STOCK	747525103	707,089	3,550	SH		SOLE		0	0	0
Quest Diagnostics, Inc.	STOCK	74834L100	615,960	4,500	SH		SOLE		0	0	0
Raytheon Technologies Corp.	STOCK	75513E101	210,819	2,100	SH		SOLE		0	0	0
ServiceNow, Inc.	STOCK	81762P102	849,604	1,080	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	312,884	2,600	SH		SOLE		0	0	0
Taiwan Semiconductor Manufacturing Co. Ltd.	STOCK	874039100	52,143	300	SH		SOLE		0	0	0
Target Corp.	STOCK	87612E106	1,647,685	11,130	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	721,168	5,600	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	122,799	2,075	SH		SOLE		0	0	0
Tesla, Inc.	STOCK	88160R101	455,124	2,300	SH		SOLE		0	0	0
Texas Instruments, Inc.	STOCK	882508104	2,027,975	10,425	SH		SOLE		0	0	0
Thermo Fisher Scientific, Inc.	STOCK	883556102	602,770	1,090	SH		SOLE		0	0	0
UGI Corp.	STOCK	902681105	22,900	1,000	SH		SOLE		0	0	0
United Parcel Service, Inc.	STOCK	911312106	348,968	2,550	SH		SOLE		0	0	0
UnitedHealth Group, Inc.	STOCK	91324P102	1,196,761	2,350	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	2,518,349	16,065	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	1,176,990	28,540	SH		SOLE		0	0	0
Vertex Pharmaceuticals, Inc.	STOCK	92532F100	46,872	100	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	151,498	1,750	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	88,011	3,073	SH		SOLE		0	0	0
Visa, Inc.	STOCK	92826C839	1,955,402	7,450	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	279,435	3,250	SH		SOLE		0	0	0
WEC Energy Group, Inc.	STOCK	92939U106	792,446	10,100	SH		SOLE		0	0	0
Wal-Mart Stores, Inc.	STOCK	931142103	3,064,013	45,252	SH		SOLE		0	0	0
Waste Connections, Inc.	STOCK	94106B101	2,310,368	13,175	SH		SOLE		0	0	0
Wells Fargo & Co.	STOCK	949746101	118,780	2,000	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	14,195	500	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	2,422,500	57,000	SH		SOLE		0	0	0
Workday, Inc.	STOCK	98138H101	1,649,873	7,380	SH		SOLE		0	0	0
Zscaler, Inc.	STOCK	98980G102	432,428	2,250	SH		SOLE		0	0	0
Accenture PLC	STOCK	G1151C101	1,130,202	3,725	SH		SOLE		0	0	0
Johnson Controls International PLC	STOCK	G51502105	581,812	8,753	SH		SOLE		0	0	0
New Linde PLC	STOCK	G54950103	570,453	1,300	SH		SOLE		0	0	0
Medtronic PLC	STOCK	G5960L103	556,401	7,069	SH		SOLE		0	0	0
Garmin Ltd.	STOCK	H2906T109	162,920	1,000	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	600,320	3,500	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	201,462	11,565	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	625,680	4,000	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	100,230	1,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	711,800	20,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	207,200	7,000	SH		SOLE		0	0	0
Healthpeak Properties, Inc.	STOCK	42250P103	26,421	1,348	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	596,100	30,000	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	709,310	7,000	SH		SOLE		0	0	0
Realty Income Corp.	STOCK	756109104	160,995	3,048	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	607,200	4,000	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	568,500	15,000	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	309,300	7,500	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	637,500	15,000	SH		SOLE		0	0	0
Kinetik Holdings Inc	STOCK	02215L209	414,400	10,000	SH		SOLE		0	0	0
Antero Resources Corp.	STOCK	03674X106	538,395	16,500	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	900,614	61,100	SH		SOLE		0	0	0
APA Corp.	STOCK	03743Q108	235,520	8,000	SH		SOLE		0	0	0
BP PLC	STOCK	055622104	2,937,132	81,361	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	2,461,900	70,000	SH		SOLE		0	0	0
Black Stone Minerals, L.P.	STOCK	09225M101	5,962,419	380,499	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	425,250	17,500	SH		SOLE		0	0	0
Coterra Energy, Inc.	STOCK	127097103	2,240,280	84,000	SH		SOLE		0	0	0
Canadian Natural Resources Ltd.	STOCK	136385101	142,400	4,000	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	337,877	6,880	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	7,321,006	41,875	SH		SOLE		0	0	0
Chesapeake Energy Corp.	STOCK	165167735	636,973	7,750	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	10,375,339	66,330	SH		SOLE		0	0	0
ConocoPhillips	STOCK	20825C104	2,596,426	22,700	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	40,054	200	SH		SOLE		0	0	0
Delek Logistics Partners LP	STOCK	24664T103	80,960	2,000	SH		SOLE		0	0	0
Delek US Holdings, Inc.	STOCK	24665A103	24,760	1,000	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	1,907,850	40,250	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	3,273,107	16,350	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	49,000	1,000	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	175,403	1,750	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	3,171,924	25,200	SH		SOLE		0	0	0
EQT Corp.	STOCK	26884L109	924,500	25,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	6,606,465	185,627	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	10,262,394	632,700	SH		SOLE		0	0	0
EnLink Midstream LLC	STOCK	29336T100	344,000	25,000	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	6,915,671	238,636	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	11,228,690	97,539	SH		SOLE		0	0	0
HF Sinaclair Corp.	STOCK	403949100	1,662,928	31,176	SH		SOLE		0	0	0
Halliburton Co.	STOCK	406216101	1,503,210	44,500	SH		SOLE		0	0	0
Hess Corp.	STOCK	42809H107	287,664	1,950	SH		SOLE		0	0	0
Hess Midstream LP	STOCK	428103105	6,680,800	183,337	SH		SOLE		0	0	0
Crescent Energy Co.	STOCK	44952J104	35,550	3,000	SH		SOLE		0	0	0
ITT, Inc.	STOCK	45073V108	910,719	7,050	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	7,103,406	357,494	SH		SOLE		0	0	0
Liberty Oilfield Services, Inc.	STOCK	53115L104	146,230	7,000	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	6,959,078	163,397	SH		SOLE		0	0	0
Marathon Oil Corp.	STOCK	565849106	2,745,812	95,773	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	12,121,915	69,875	SH		SOLE		0	0	0
Matador Resources Co.	STOCK	576485205	536,400	9,000	SH		SOLE		0	0	0
Murphy Oil Corp.	STOCK	626717102	206,200	5,000	SH		SOLE		0	0	0
NextEra Energy Partners LP	STOCK	65341B106	142,346	5,150	SH		SOLE		0	0	0
Chord Energy Corp.	STOCK	674215207	58,688	350	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	2,212,353	35,100	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	11,540,711	141,517	SH		SOLE		0	0	0
Ovintiv, Inc.	STOCK	69047Q102	398,395	8,500	SH		SOLE		0	0	0
PBF Energy, Inc.	STOCK	69318G106	2,749,695	59,750	SH		SOLE		0	0	0
PPL Corp.	STOCK	69351T106	559,913	20,250	SH		SOLE		0	0	0
Permian Resources Corp.	STOCK	71424F105	193,800	12,000	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	12,435,101	88,086	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	6,434,958	360,300	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	1,336,220	71,000	SH		SOLE		0	0	0
Range Resources Corp.	STOCK	75281A109	435,890	13,000	SH		SOLE		0	0	0
Shell PLC	STOCK	780259305	144,360	2,000	SH		SOLE		0	0	0
Schlumberger Ltd.	STOCK	806857108	2,283,512	48,400	SH		SOLE		0	0	0
Southwestern Energy Co.	STOCK	845467109	100,950	15,000	SH		SOLE		0	0	0
Suburban Propane Partners, L.P.	STOCK	864482104	189,900	10,000	SH		SOLE		0	0	0
Suncor Energy, Inc.	STOCK	867224107	152,400	4,000	SH		SOLE		0	0	0
Sunoco LP	STOCK	86765K109	1,557,960	27,555	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	6,642,859	51,583	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	2,081,771	54,928	SH		SOLE		0	0	0
Texas Pacific Land Corp.	STOCK	88262P102	991,265	1,350	SH		SOLE		0	0	0
TotalEnergies SE	STOCK	89151E109	66,680	1,000	SH		SOLE		0	0	0
UGI Corp.	STOCK	902681105	297,700	13,000	SH		SOLE		0	0	0
USA Compression Partners LP	STOCK	90290N109	149,119	6,284	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	11,226,994	71,619	SH		SOLE		0	0	0
Viper Energy Inc	STOCK	927959106	739,341	19,700	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	42,990	500	SH		SOLE		0	0	0
Western Midstream Partners LP	STOCK	958669103	7,125,576	179,350	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	11,922,610	280,532	SH		SOLE		0	0	0
TechnipFMC PLC	STOCK	G87110105	418,400	16,000	SH		SOLE		0	0	0
AES Corp.	STOCK	00130H105	351,400	20,000	SH		SOLE		0	0	0
Alliant Energy Corp.	STOCK	018802108	216,325	4,250	SH		SOLE		0	0	0
Ameren Corp.	STOCK	023608102	600,880	8,450	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	802,821	9,150	SH		SOLE		0	0	0
American Water Works Co., Inc.	STOCK	030420103	174,366	1,350	SH		SOLE		0	0	0
Atmos Energy Corp.	STOCK	049560105	355,783	3,050	SH		SOLE		0	0	0
Brookfield Renewable Corp.	STOCK	11284V105	32,637	1,150	SH		SOLE		0	0	0
CMS Energy Corp.	STOCK	125896100	622,089	10,450	SH		SOLE		0	0	0
CenterPoint Energy, Inc.	STOCK	15189T107	480,190	15,500	SH		SOLE		0	0	0
Chesapeake Utilities Corp.	STOCK	165303108	106,200	1,000	SH		SOLE		0	0	0
Clearway Energy, Inc.	STOCK	18539C204	143,202	5,800	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	811,094	4,050	SH		SOLE		0	0	0
DTE Energy Co.	STOCK	233331107	815,924	7,350	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	127,400	2,600	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	741,702	7,400	SH		SOLE		0	0	0
Edison International	STOCK	281020107	416,498	5,800	SH		SOLE		0	0	0
Entergy Corp.	STOCK	29364G103	829,250	7,750	SH		SOLE		0	0	0
Essential Utilities, Inc.	STOCK	29670G102	597,280	16,000	SH		SOLE		0	0	0
Evergy, Inc.	STOCK	30034W106	153,613	2,900	SH		SOLE		0	0	0
Eversource Energy	STOCK	30040W108	547,252	9,650	SH		SOLE		0	0	0
Exelon Corp.	STOCK	30161N101	439,547	12,700	SH		SOLE		0	0	0
FirstEnergy Corp.	STOCK	337932107	486,029	12,700	SH		SOLE		0	0	0
IDACORP, Inc.	STOCK	451107106	83,835	900	SH		SOLE		0	0	0
NRG Energy, Inc.	STOCK	629377508	38,930	500	SH		SOLE		0	0	0
National Fuel Gas Co.	STOCK	636180101	46,062	850	SH		SOLE		0	0	0
New Jersey Resources Corp.	STOCK	646025106	21,370	500	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	1,175,446	16,600	SH		SOLE		0	0	0
Nisource, Inc.	STOCK	65473P105	605,010	21,000	SH		SOLE		0	0	0
Northwest Natural Holdings Co.	STOCK	66765N105	68,609	1,900	SH		SOLE		0	0	0
NorthWestern Corp.	STOCK	668074305	50,080	1,000	SH		SOLE		0	0	0
PNM Resources, Inc.	STOCK	69349H107	18,480	500	SH		SOLE		0	0	0
PPL Corp.	STOCK	69351T106	656,688	23,750	SH		SOLE		0	0	0
Portland General Electric Co.	STOCK	736508847	164,312	3,800	SH		SOLE		0	0	0
Public Service Enterprise Group, Inc.	STOCK	744573106	762,795	10,350	SH		SOLE		0	0	0
Sempra Energy	STOCK	816851109	817,645	10,750	SH		SOLE		0	0	0
Southern Co./The	STOCK	842587107	252,103	3,250	SH		SOLE		0	0	0
Southwest Gas Corp.	STOCK	844895102	168,912	2,400	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	550,272	6,400	SH		SOLE		0	0	0
WEC Energy Group, Inc.	STOCK	92939U106	521,759	6,650	SH		SOLE		0	0	0
Waste Management, Inc.	STOCK	94106L109	96,003	450	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	106,250	2,500	SH		SOLE		0	0	0
Xcel Energy, Inc.	STOCK	98389B100	392,564	7,350	SH		SOLE		0	0	0