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
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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	610,173	8,100	SH		SOLE		0	0	0
Alexandria Real Estate Equities, Inc.	STOCK	015271109	635,313	5,350	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	763,953	4,100	SH		SOLE		0	0	0
American Homes 4 Rent	STOCK	02665T306	1,393,557	36,300	SH		SOLE		0	0	0
American Tower Corp.	STOCK	03027X100	400,003	1,720	SH		SOLE		0	0	0
Apple Hospitality REIT, Inc.	STOCK	03784Y200	418,919	28,210	SH		SOLE		0	0	0
AvalonBay Communities, Inc.	STOCK	053484101	3,421,548	15,190	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	98,852	5,200	SH		SOLE		0	0	0
Boston Properties, Inc.	STOCK	101121101	516,151	6,415	SH		SOLE		0	0	0
Brixmor Property Group, Inc.	STOCK	11120U105	1,155,494	41,475	SH		SOLE		0	0	0
Camden Property Trust	STOCK	133131102	1,185,888	9,600	SH		SOLE		0	0	0
CareTrust REIT, Inc.	STOCK	14174T107	154,300	5,000	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	78,585	1,613	SH		SOLE		0	0	0
COPT Defense Properties	STOCK	22002T108	121,320	4,000	SH		SOLE		0	0	0
Cousins Properties, Inc.	STOCK	222795502	191,620	6,500	SH		SOLE		0	0	0
Crown Castle International Corp.	STOCK	22822V101	301,320	2,540	SH		SOLE		0	0	0
CubeSmart	STOCK	229663109	1,046,994	19,450	SH		SOLE		0	0	0
D.R. Horton, Inc.	STOCK	23331A109	190,770	1,000	SH		SOLE		0	0	0
Digital Realty Trust, Inc.	STOCK	253868103	4,107,407	25,381	SH		SOLE		0	0	0
DigitalBridge Group, Inc.	STOCK	25401T603	395,640	28,000	SH		SOLE		0	0	0
Empire State Realty Trust, Inc.	STOCK	292104106	11,080	1,000	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	288,900	18,000	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	174,660	6,000	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	5,423,419	6,110	SH		SOLE		0	0	0
Equity LifeStyle Properties, Inc.	STOCK	29472R108	1,323,357	18,550	SH		SOLE		0	0	0
Equity Residential	STOCK	29476L107	2,324,269	31,215	SH		SOLE		0	0	0
Essex Property Trust, Inc.	STOCK	297178105	1,930,865	6,536	SH		SOLE		0	0	0
Extra Space Storage, Inc.	STOCK	30225T102	2,753,303	15,280	SH		SOLE		0	0	0
Federal Realty Investment Trust	STOCK	313745101	1,115,209	9,700	SH		SOLE		0	0	0
Four Corners Property Trust, Inc.	STOCK	35086T109	146,550	5,000	SH		SOLE		0	0	0
Gaming and Leisure Properties, Inc.	STOCK	36467J108	1,486,133	28,885	SH		SOLE		0	0	0
Getty Realty Corp.	STOCK	374297109	31,810	1,000	SH		SOLE		0	0	0
Global Medical REIT, Inc.	STOCK	37954A204	148,650	15,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	24,715	717	SH		SOLE		0	0	0
Healthcare Realty Trust, Inc.	STOCK	42226K105	145,200	8,000	SH		SOLE		0	0	0
Healthpeak Properties, Inc.	STOCK	42250P103	431,534	18,869	SH		SOLE		0	0	0
Host Hotels & Resorts, Inc.	STOCK	44107P104	843,040	47,900	SH		SOLE		0	0	0
Invitation Homes, Inc.	STOCK	46187W107	211,560	6,000	SH		SOLE		0	0	0
Iron Mountain, Inc.	STOCK	46284V101	4,384,827	36,900	SH		SOLE		0	0	0
Kilroy Realty Corp.	STOCK	49427F108	165,056	4,265	SH		SOLE		0	0	0
Kimco Realty Corp.	STOCK	49446R109	593,712	25,569	SH		SOLE		0	0	0
Lennar Corp.	STOCK	526057104	173,419	925	SH		SOLE		0	0	0
Lexington Realty Trust	STOCK	529043101	27,135	2,700	SH		SOLE		0	0	0
Lineage, Inc.	STOCK	53566V106	164,598	2,100	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	177,840	4,000	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	1,155,521	7,272	SH		SOLE		0	0	0
National Retail Properties, Inc.	STOCK	637417106	860,698	17,750	SH		SOLE		0	0	0
NET Lease Office Properties	STOCK	64110Y108	57,321	1,872	SH		SOLE		0	0	0
Omega Healthcare Investors, Inc.	STOCK	681936100	1,017,500	25,000	SH		SOLE		0	0	0
One Liberty Properties, Inc.	STOCK	682406103	68,850	2,500	SH		SOLE		0	0	0
Park Hotels & Resorts, Inc.	STOCK	700517105	130,425	9,250	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	34,740	2,000	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	55,500	3,000	SH		SOLE		0	0	0
Plymouth Industrial REIT Inc.	STOCK	729640102	33,900	1,500	SH		SOLE		0	0	0
Postal Realty Trust, Inc.	STOCK	73757R102	43,920	3,000	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	3,990,574	31,601	SH		SOLE		0	0	0
Public Storage	STOCK	74460D109	3,265,733	8,975	SH		SOLE		0	0	0
Realty Income Corp.	STOCK	756109104	1,647,969	25,985	SH		SOLE		0	0	0
Regency Centers Corp.	STOCK	758849103	967,882	13,400	SH		SOLE		0	0	0
Rexford Industrial Realty, Inc.	STOCK	76169C100	729,495	14,500	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	2,281,770	13,500	SH		SOLE		0	0	0
STAG Industrial, Inc.	STOCK	85254J102	1,796,186	45,950	SH		SOLE		0	0	0
Starwood Property Trust, Inc.	STOCK	85571B105	142,660	7,000	SH		SOLE		0	0	0
Summit Hotel Properties, Inc.	STOCK	866082100	41,160	6,000	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	1,236,623	9,150	SH		SOLE		0	0	0
Sunstone Hotel Investors, Inc.	STOCK	867892101	141,384	13,700	SH		SOLE		0	0	0
Tanger Factory Outlet Centers, Inc.	STOCK	875465106	364,980	11,000	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	2,699,932	40,400	SH		SOLE		0	0	0
Toll Brothers, Inc.	STOCK	889478103	181,526	1,175	SH		SOLE		0	0	0
UDR, Inc.	STOCK	902653104	2,067,504	45,600	SH		SOLE		0	0	0
Ventas, Inc.	STOCK	92276F100	670,159	10,450	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	268,623	2,700	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	2,774,623	83,297	SH		SOLE		0	0	0
WP Carey, Inc.	STOCK	92936U109	635,460	10,200	SH		SOLE		0	0	0
Welltower, Inc.	STOCK	95040Q104	4,503,455	35,175	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	179,458	5,300	SH		SOLE		0	0	0
INVESCO DISCOVERY FUND CL Y MF	MUTUAL FUND	00141G625	454,677	3,619	SH		SOLE		0	0	0
ALGER CAP APPRECIATION INST CL I MF	MUTUAL FUND	015570401	155,658	3,503	SH		SOLE		0	0	0
AB LARGE CAP GROWTH CL ADV MF	MUTUAL FUND	01877C408	610,377	5,450	SH		SOLE		0	0	0
AMERICAN BALANCED CL F-2 MF	MUTUAL FUND	024071821	700,447	19,312	SH		SOLE		0	0	0
BAIRD ULTRA SHORT BOND CL INST MF	MUTUAL FUND	057071722	289,142	28,515	SH		SOLE		0	0	0
COLUMBIA DIVIDEND INCM CL I MF	MUTUAL FUND	19765N245	66,817	1,910	SH		SOLE		0	0	0
FIDELITY ADVISOR EQY GRWTH CL I MF	MUTUAL FUND	315805101	147,814	5,861	SH		SOLE		0	0	0
FIDELITY MSCI FINANCIALS INDX ETF	ETF	316092501	163,355	2,558	SH		SOLE		0	0	0
FIRST TR LRG CP GRW ALPHADEX ETF	ETF	33735K108	160,557	1,222	SH		SOLE		0	0	0
GABELLI UTILITIES CL A MF	MUTUAL FUND	36240E202	7,950	1,371	SH		SOLE		0	0	0
INVSC QQQ TRUST SRS 1 ETF	ETF	46090E103	153,262	314	SH		SOLE		0	0	0
ISHARES 7-10 YEAR TRSURY BOND ETF	ETF	464287440	622,573	6,345	SH		SOLE		0	0	0
ISHARES CORE S&P MID CAP ETF	ETF	464287507	511,418	8,206	SH		SOLE		0	0	0
ISHARES RUSSELL TOP 200 ETF	ETF	464289446	413,298	2,943	SH		SOLE		0	0	0
ISHARES MSCI USA MOMNTUM FCT ETF	ETF	46432F396	156,763	773	SH		SOLE		0	0	0
ISHARES CORE 1-5 YEAR USD BOND ETF	ETF	46432F859	340,604	6,997	SH		SOLE		0	0	0
ISHARES INVEST GRD SYS BND ETF	ETF	46435G219	277,493	5,971	SH		SOLE		0	0	0
MFS GROWTH CL I MF	MUTUAL FUND	552985863	151,660	702	SH		SOLE		0	0	0
T. ROWE PRICE BLUE CHIP GRW MF	MUTUAL FUND	77954Q106	65,925	344	SH		SOLE		0	0	0
SPDR S&P 500 GROWTH ETF	ETF	78464A409	66,435	801	SH		SOLE		0	0	0
SPDR PORTFOLIO S&P 600 SMALL CAP ETF	ETF	78468R853	192	4	SH		SOLE		0	0	0
SELECT SECTOR UTI SELECT SPDR ETF	ETF	81369Y886	387,210	4,793	SH		SOLE		0	0	0
SPIRIT OF AMERICA ENERGY MF	MUTUAL FUND	848579207	19,140	1,534	SH		SOLE		0	0	0
THRIVENT LARGE CAP VALUE CL S MF	MUTUAL FUND	885882811	353,012	11,101	SH		SOLE		0	0	0
VANGUARD DIVIDEND APPRECIATION ETF	ETF	921908844	711,522	3,592	SH		SOLE		0	0	0
VANGUARD LONG TERM BOND ETF	ETF	921937793	280,741	3,735	SH		SOLE		0	0	0
VANGUARD HEALTH CARE ETF	ETF	92204A504	157,672	559	SH		SOLE		0	0	0
VANGUARD S&P 500 ETF	ETF	922908363	349,852	663	SH		SOLE		0	0	0
VIRTUS INCOME AND GROWTH CL A MF	MUTUAL FUND	92837N584	19,004	1,688	SH		SOLE		0	0	0
WASHINGTON MUTUAL INVS CL F 2 MF	MUTUAL FUND	939330825	706,713	10,993	SH		SOLE		0	0	0
AES Corp.	STOCK	00130H105	140,420	7,000	SH		SOLE		0	0	0
AT&T, Inc.	STOCK	00206R102	209,000	9,500	SH		SOLE		0	0	0
Abbott Laboratories	STOCK	002824100	353,431	3,100	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	4,482,796	22,700	SH		SOLE		0	0	0
Adobe Systems, Inc.	STOCK	00724F101	647,225	1,250	SH		SOLE		0	0	0
Advanced Micro Devices, Inc.	STOCK	007903107	1,205,988	7,350	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K107	426,335	2,550	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K305	7,363,740	44,400	SH		SOLE		0	0	0
Altria Group, Inc.	STOCK	02209S103	645,656	12,650	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	4,779,365	25,650	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	189,810	1,850	SH		SOLE		0	0	0
American Express Co.	STOCK	025816109	1,356,000	5,000	SH		SOLE		0	0	0
Amgen, Inc.	STOCK	031162100	161,105	500	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	75,250	5,000	SH		SOLE		0	0	0
Apple, Inc.	STOCK	037833100	10,574,006	45,382	SH		SOLE		0	0	0
Applied Materials, Inc.	STOCK	038222105	2,873,151	14,220	SH		SOLE		0	0	0
ARM Holdings PLC	STOCK	042068205	28,602	200	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	171,713	4,750	SH		SOLE		0	0	0
Bank of America Corp.	STOCK	060505104	986,048	24,850	SH		SOLE		0	0	0
Berkshire Hathaway, Inc.	STOCK	084670702	1,827,232	3,970	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	1,799,278	11,750	SH		SOLE		0	0	0
Bristol-Myers Squibb Co.	STOCK	110122108	388,050	7,500	SH		SOLE		0	0	0
Broadcom, Inc.	STOCK	11135F101	569,250	3,300	SH		SOLE		0	0	0
CF Industries Holdings, Inc.	STOCK	125269100	617,760	7,200	SH		SOLE		0	0	0
CME Group, Inc.	STOCK	12572Q105	309,793	1,404	SH		SOLE		0	0	0
CSX Corp.	STOCK	126408103	1,263,798	36,600	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	130,280	4,000	SH		SOLE		0	0	0
The Carlyle Group, Inc.	STOCK	14316J108	260,513	6,050	SH		SOLE		0	0	0
Caterpillar, Inc.	STOCK	149123101	4,493,969	11,490	SH		SOLE		0	0	0
Centene Corp.	STOCK	15135B101	549,544	7,300	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	1,699,488	9,450	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	1,842,348	12,510	SH		SOLE		0	0	0
Chipotle Mexican Grill, Inc.	STOCK	169656105	3,341,960	58,000	SH		SOLE		0	0	0
Cisco Systems, Inc.	STOCK	17275R102	891,435	16,750	SH		SOLE		0	0	0
Citigroup, Inc.	STOCK	172967424	1,170,620	18,700	SH		SOLE		0	0	0
Coca-Cola Co./The	STOCK	191216100	546,136	7,600	SH		SOLE		0	0	0
Cognizant Technology Solutions Corp.	STOCK	192446102	355,028	4,600	SH		SOLE		0	0	0
Coinbase Global, Inc.	STOCK	19260Q107	26,726	150	SH		SOLE		0	0	0
Colgate-Palmolive Co.	STOCK	194162103	155,715	1,500	SH		SOLE		0	0	0
ConAgra Foods, Inc.	STOCK	205887102	100,812	3,100	SH		SOLE		0	0	0
ConocoPhillips	STOCK	20825C104	515,872	4,900	SH		SOLE		0	0	0
Constellation Brands, Inc.	STOCK	21036P108	360,766	1,400	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	533,041	2,050	SH		SOLE		0	0	0
Corning, Inc.	STOCK	219350105	361,200	8,000	SH		SOLE		0	0	0
Corteva, Inc.	STOCK	22052L104	425,228	7,233	SH		SOLE		0	0	0
Costco Wholesale Corp.	STOCK	22160K105	6,055,818	6,831	SH		SOLE		0	0	0
Crowdstrike Holdings, Inc.	STOCK	22788C105	785,316	2,800	SH		SOLE		0	0	0
Cummins, Inc.	STOCK	231021106	1,149,455	3,550	SH		SOLE		0	0	0
Deere & Co.	STOCK	244199105	2,549,886	6,110	SH		SOLE		0	0	0
Dell Technolodies, Inc.	STOCK	24703L202	192,509	1,624	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	31,296	800	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	456,860	2,650	SH		SOLE		0	0	0
Digital Realty Trust, Inc.	STOCK	253868103	428,850	2,650	SH		SOLE		0	0	0
DigitalBridge Group, Inc.	STOCK	25401T603	155,430	11,000	SH		SOLE		0	0	0
Walt Disney Co./The	STOCK	254687106	2,010,371	20,900	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	664,585	11,500	SH		SOLE		0	0	0
Dow, Inc.	STOCK	260557103	332,314	6,083	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	207,540	1,800	SH		SOLE		0	0	0
DuPont de Nemours, Inc.	STOCK	26614N102	579,215	6,500	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	479,427	3,900	SH		SOLE		0	0	0
Edison International	STOCK	281020107	226,434	2,600	SH		SOLE		0	0	0
Edwards LifeSciences Corp.	STOCK	28176E108	197,970	3,000	SH		SOLE		0	0	0
Entergy Corp.	STOCK	29364G103	65,805	500	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	1,038,527	1,170	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	2,409,809	20,558	SH		SOLE		0	0	0
Meta Platforms, Inc.	STOCK	30303M102	500,885	875	SH		SOLE		0	0	0
FedEx Corp.	STOCK	31428X106	492,624	1,800	SH		SOLE		0	0	0
Goldman Sachs Group, Inc./The	STOCK	38141G104	1,344,224	2,715	SH		SOLE		0	0	0
HP, Inc.	STOCK	40434L105	17,935	500	SH		SOLE		0	0	0
Halliburton Co.	STOCK	406216101	72,625	2,500	SH		SOLE		0	0	0
Home Depot, Inc./The	STOCK	437076102	2,487,118	6,138	SH		SOLE		0	0	0
Honeywell International, Inc.	STOCK	438516106	1,839,719	8,900	SH		SOLE		0	0	0
Humana, Inc.	STOCK	444859102	427,599	1,350	SH		SOLE		0	0	0
ITT, Inc.	STOCK	45073V108	44,853	300	SH		SOLE		0	0	0
International Business Machines Corp.	STOCK	459200101	589,841	2,668	SH		SOLE		0	0	0
Iron Mountain, Inc.	STOCK	46284V101	190,128	1,600	SH		SOLE		0	0	0
JPMorgan Chase & Co.	STOCK	46625H100	4,595,061	21,792	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	171,198	7,750	SH		SOLE		0	0	0
Kroger Co./The	STOCK	501044101	515,700	9,000	SH		SOLE		0	0	0
Lamb Weston Holdings, Inc.	STOCK	513272104	116,532	1,800	SH		SOLE		0	0	0
Eli Lilly & Co.	STOCK	532457108	2,981,188	3,365	SH		SOLE		0	0	0
Lockheed Martin Corp.	STOCK	539830109	438,420	750	SH		SOLE		0	0	0
Lowe's Cos., Inc.	STOCK	548661107	920,890	3,400	SH		SOLE		0	0	0
Marathon Oil Corp.	STOCK	565849106	13,315	500	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	154,765	950	SH		SOLE		0	0	0
Masco Corp.	STOCK	574599106	713,490	8,500	SH		SOLE		0	0	0
MasterCard, Inc.	STOCK	57636Q104	1,209,810	2,450	SH		SOLE		0	0	0
McDonald's Corp.	STOCK	580135101	785,636	2,580	SH		SOLE		0	0	0
McKesson Corp.	STOCK	58155Q103	2,395,465	4,845	SH		SOLE		0	0	0
Merck & Co., Inc.	STOCK	58933Y105	2,083,826	18,350	SH		SOLE		0	0	0
Microsoft Corp.	STOCK	594918104	8,390,420	19,499	SH		SOLE		0	0	0
Microchip Technology, Inc.	STOCK	595017104	517,871	6,450	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	39,725	250	SH		SOLE		0	0	0
Morgan Stanley	STOCK	617446448	312,720	3,000	SH		SOLE		0	0	0
NetApp, Inc.	STOCK	64110D104	321,126	2,600	SH		SOLE		0	0	0
Netflix, Inc.	STOCK	64110L106	780,197	1,100	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	1,916,718	22,675	SH		SOLE		0	0	0
NIKE, Inc.	STOCK	654106103	132,600	1,500	SH		SOLE		0	0	0
Gen Digital, Inc.	STOCK	668771108	677,521	24,700	SH		SOLE		0	0	0
NVIDIA Corp.	STOCK	67066G104	26,986,397	222,220	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	309,240	6,000	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	164,034	1,800	SH		SOLE		0	0	0
Oracle Corp.	STOCK	68389X105	4,579,500	26,875	SH		SOLE		0	0	0
Palo Alto Networks, Inc.	STOCK	697435105	871,590	2,550	SH		SOLE		0	0	0
Paychex, Inc.	STOCK	704326107	516,632	3,850	SH		SOLE		0	0	0
PepsiCo, Inc.	STOCK	713448108	374,110	2,200	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	582,720	4,800	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	716,403	5,450	SH		SOLE		0	0	0
Procter & Gamble Co./The	STOCK	742718109	1,258,298	7,265	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	795,564	6,300	SH		SOLE		0	0	0
QUALCOMM, Inc.	STOCK	747525103	637,688	3,750	SH		SOLE		0	0	0
Quest Diagnostics, Inc.	STOCK	74834L100	698,625	4,500	SH		SOLE		0	0	0
Raytheon Technologies Corp.	STOCK	75513E101	254,436	2,100	SH		SOLE		0	0	0
ServiceNow, Inc.	STOCK	81762P102	1,010,661	1,130	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	250,028	1,850	SH		SOLE		0	0	0
TKO Group Holdings Inc	STOCK	87256C101	111,339	900	SH		SOLE		0	0	0
Taiwan Semiconductor Manufacturing Co. Ltd.	STOCK	874039100	52,101	300	SH		SOLE		0	0	0
Talen Energy Corp.	STOCK	87422Q109	89,120	500	SH		SOLE		0	0	0
Target Corp.	STOCK	87612E106	1,734,722	11,130	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	828,856	5,600	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	138,672	2,075	SH		SOLE		0	0	0
Tesla, Inc.	STOCK	88160R101	601,749	2,300	SH		SOLE		0	0	0
Texas Instruments, Inc.	STOCK	882508104	1,988,236	9,625	SH		SOLE		0	0	0
Thermo Fisher Scientific, Inc.	STOCK	883556102	674,241	1,090	SH		SOLE		0	0	0
UGI Corp.	STOCK	902681105	25,020	1,000	SH		SOLE		0	0	0
United Parcel Service, Inc.	STOCK	911312106	347,667	2,550	SH		SOLE		0	0	0
UnitedHealth Group, Inc.	STOCK	91324P102	1,373,998	2,350	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	2,061,233	15,265	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	1,281,731	28,540	SH		SOLE		0	0	0
Vertex Pharmaceuticals, Inc.	STOCK	92532F100	46,508	100	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	174,108	1,750	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	69,052	2,073	SH		SOLE		0	0	0
Visa, Inc.	STOCK	92826C839	2,075,873	7,550	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	474,160	4,000	SH		SOLE		0	0	0
WEC Energy Group, Inc.	STOCK	92939U106	971,418	10,100	SH		SOLE		0	0	0
Wal-Mart Stores, Inc.	STOCK	931142103	3,799,449	47,052	SH		SOLE		0	0	0
Waste Connections, Inc.	STOCK	94106B101	2,355,954	13,175	SH		SOLE		0	0	0
Wells Fargo & Co.	STOCK	949746101	112,980	2,000	SH		SOLE		0	0	0
Welltower, Inc.	STOCK	95040Q104	83,220	650	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	16,930	500	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	2,519,880	55,200	SH		SOLE		0	0	0
Workday, Inc.	STOCK	98138H101	1,803,746	7,380	SH		SOLE		0	0	0
Zscaler, Inc.	STOCK	98980G102	384,615	2,250	SH		SOLE		0	0	0
Accenture PLC	STOCK	G1151C101	1,316,713	3,725	SH		SOLE		0	0	0
Johnson Controls International PLC	STOCK	G51502105	679,320	8,753	SH		SOLE		0	0	0
New Linde PLC	STOCK	G54950103	619,918	1,300	SH		SOLE		0	0	0
Medtronic PLC	STOCK	G5960L103	636,422	7,069	SH		SOLE		0	0	0
Garmin Ltd.	STOCK	H2906T109	176,030	1,000	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	394,960	2,000	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	219,851	11,565	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	589,080	4,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	812,200	20,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	241,290	7,000	SH		SOLE		0	0	0
Healthpeak Properties, Inc.	STOCK	42250P103	30,829	1,348	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	552,250	25,000	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	667,700	5,500	SH		SOLE		0	0	0
Realty Income Corp.	STOCK	756109104	193,304	3,048	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	676,080	4,000	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	713,250	15,000	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	336,825	7,500	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	570,625	12,500	SH		SOLE		0	0	0
Kinetik Holdings Inc	STOCK	02215L209	452,600	10,000	SH		SOLE		0	0	0
Antero Resources Corp.	STOCK	03674X106	472,725	16,500	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	919,555	61,100	SH		SOLE		0	0	0
APA Corp.	STOCK	03743Q108	195,680	8,000	SH		SOLE		0	0	0
BP PLC	STOCK	055622104	2,553,922	81,361	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	2,349,750	65,000	SH		SOLE		0	0	0
Black Stone Minerals, L.P.	STOCK	09225M101	4,801,785	317,999	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	569,975	17,500	SH		SOLE		0	0	0
Coterra Energy, Inc.	STOCK	127097103	2,011,800	84,000	SH		SOLE		0	0	0
Canadian Natural Resources Ltd.	STOCK	136385101	132,840	4,000	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	335,194	6,880	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	7,566,768	42,075	SH		SOLE		0	0	0
EXPAND ENERGY CORP	STOCK	165167735	637,438	7,750	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	9,437,062	64,080	SH		SOLE		0	0	0
ConocoPhillips	STOCK	20825C104	2,389,856	22,700	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	312,024	1,200	SH		SOLE		0	0	0
Delek Logistics Partners LP	STOCK	24664T103	87,440	2,000	SH		SOLE		0	0	0
Delek US Holdings, Inc.	STOCK	24665A103	18,750	1,000	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	1,691,940	43,250	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	2,956,660	17,150	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	57,790	1,000	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	201,775	1,750	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	3,097,836	25,200	SH		SOLE		0	0	0
EQT Corp.	STOCK	26884L109	916,000	25,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	7,497,702	184,627	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	9,914,085	617,700	SH		SOLE		0	0	0
EnLink Midstream LLC	STOCK	29336T100	362,750	25,000	SH		SOLE		0	0	0
Entergy Corp.	STOCK	29364G103	105,288	800	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	6,946,694	238,636	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	10,337,515	88,189	SH		SOLE		0	0	0
HF Sinaclair Corp.	STOCK	403949100	1,389,514	31,176	SH		SOLE		0	0	0
Halliburton Co.	STOCK	406216101	1,292,725	44,500	SH		SOLE		0	0	0
Hess Corp.	STOCK	42809H107	264,810	1,950	SH		SOLE		0	0	0
Hess Midstream LP	STOCK	428103105	6,466,296	183,337	SH		SOLE		0	0	0
Crescent Energy Co.	STOCK	44952J104	32,850	3,000	SH		SOLE		0	0	0
ITT, Inc.	STOCK	45073V108	1,054,046	7,050	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	7,764,502	351,494	SH		SOLE		0	0	0
Liberty Oilfield Services, Inc.	STOCK	53115L104	133,630	7,000	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	7,242,401	162,897	SH		SOLE		0	0	0
Marathon Oil Corp.	STOCK	565849106	2,577,065	96,773	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	10,120,784	62,125	SH		SOLE		0	0	0
Matador Resources Co.	STOCK	576485205	444,780	9,000	SH		SOLE		0	0	0
Murphy Oil Corp.	STOCK	626717102	168,700	5,000	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	131,022	1,550	SH		SOLE		0	0	0
NextEra Energy Partners LP	STOCK	65341B106	142,243	5,150	SH		SOLE		0	0	0
Chord Energy Corp.	STOCK	674215207	45,581	350	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	1,809,054	35,100	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	11,716,311	128,567	SH		SOLE		0	0	0
Ovintiv, Inc.	STOCK	69047Q102	383,100	10,000	SH		SOLE		0	0	0
PBF Energy, Inc.	STOCK	69318G106	1,849,263	59,750	SH		SOLE		0	0	0
PPL Corp.	STOCK	69351T106	694,680	21,000	SH		SOLE		0	0	0
Permian Resources Corp.	STOCK	71424F105	163,320	12,000	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	10,165,817	77,336	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	6,258,411	360,300	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	1,313,500	71,000	SH		SOLE		0	0	0
Range Resources Corp.	STOCK	75281A109	399,880	13,000	SH		SOLE		0	0	0
Shell PLC	STOCK	780259305	197,850	3,000	SH		SOLE		0	0	0
Schlumberger Ltd.	STOCK	806857108	2,072,330	49,400	SH		SOLE		0	0	0
Southwestern Energy Co.	STOCK	845467109	106,650	15,000	SH		SOLE		0	0	0
Suburban Propane Partners, L.P.	STOCK	864482104	179,400	10,000	SH		SOLE		0	0	0
Suncor Energy, Inc.	STOCK	867224107	147,680	4,000	SH		SOLE		0	0	0
Sunoco LP	STOCK	86765K109	1,479,152	27,555	SH		SOLE		0	0	0
Talen Energy Corp.	STOCK	87422Q109	124,768	700	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	8,234,240	55,633	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	2,797,271	58,828	SH		SOLE		0	0	0
Texas Pacific Land Corp.	STOCK	88262P102	1,331,534	1,505	SH		SOLE		0	0	0
TotalEnergies SE	STOCK	89151E109	64,620	1,000	SH		SOLE		0	0	0
UGI Corp.	STOCK	902681105	325,260	13,000	SH		SOLE		0	0	0
USA Compression Partners LP	STOCK	90290N109	144,029	6,284	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	9,427,660	69,819	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	198,980	2,000	SH		SOLE		0	0	0
Viper Energy Inc	STOCK	927959106	1,283,380	28,450	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	296,350	2,500	SH		SOLE		0	0	0
Western Midstream Partners LP	STOCK	958669103	6,861,931	179,350	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	11,792,856	258,332	SH		SOLE		0	0	0
TechnipFMC PLC	STOCK	G87110105	419,680	16,000	SH		SOLE		0	0	0
AES Corp.	STOCK	00130H105	441,320	22,000	SH		SOLE		0	0	0
Alliant Energy Corp.	STOCK	018802108	276,140	4,550	SH		SOLE		0	0	0
Ameren Corp.	STOCK	023608102	760,902	8,700	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	938,790	9,150	SH		SOLE		0	0	0
American Water Works Co., Inc.	STOCK	030420103	197,424	1,350	SH		SOLE		0	0	0
Atmos Energy Corp.	STOCK	049560105	471,614	3,400	SH		SOLE		0	0	0
Brookfield Renewable Corp.	STOCK	11284V105	37,559	1,150	SH		SOLE		0	0	0
CMS Energy Corp.	STOCK	125896100	762,804	10,800	SH		SOLE		0	0	0
CenterPoint Energy, Inc.	STOCK	15189T107	456,010	15,500	SH		SOLE		0	0	0
Chesapeake Utilities Corp.	STOCK	165303108	186,255	1,500	SH		SOLE		0	0	0
Clearway Energy, Inc.	STOCK	18539C204	208,624	6,800	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	1,131,087	4,350	SH		SOLE		0	0	0
DTE Energy Co.	STOCK	233331107	1,033,701	8,050	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	150,254	2,600	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	974,285	8,450	SH		SOLE		0	0	0
Edison International	STOCK	281020107	618,339	7,100	SH		SOLE		0	0	0
Entergy Corp.	STOCK	29364G103	1,019,978	7,750	SH		SOLE		0	0	0
Essential Utilities, Inc.	STOCK	29670G102	694,260	18,000	SH		SOLE		0	0	0
Evergy, Inc.	STOCK	30034W106	306,950	4,950	SH		SOLE		0	0	0
Eversource Energy	STOCK	30040W108	813,198	11,950	SH		SOLE		0	0	0
Exelon Corp.	STOCK	30161N101	555,535	13,700	SH		SOLE		0	0	0
FirstEnergy Corp.	STOCK	337932107	607,595	13,700	SH		SOLE		0	0	0
IDACORP, Inc.	STOCK	451107106	92,781	900	SH		SOLE		0	0	0
NRG Energy, Inc.	STOCK	629377508	91,100	1,000	SH		SOLE		0	0	0
National Fuel Gas Co.	STOCK	636180101	93,946	1,550	SH		SOLE		0	0	0
New Jersey Resources Corp.	STOCK	646025106	56,640	1,200	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	1,534,220	18,150	SH		SOLE		0	0	0
Nisource, Inc.	STOCK	65473P105	753,638	21,750	SH		SOLE		0	0	0
Northwest Natural Holdings Co.	STOCK	66765N105	77,558	1,900	SH		SOLE		0	0	0
NorthWestern Corp.	STOCK	668074305	57,220	1,000	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	22,783	250	SH		SOLE		0	0	0
TXNM Energy Inc Com	STOCK	69349H107	100,671	2,300	SH		SOLE		0	0	0
PPL Corp.	STOCK	69351T106	830,308	25,100	SH		SOLE		0	0	0
Portland General Electric Co.	STOCK	736508847	287,400	6,000	SH		SOLE		0	0	0
Public Service Enterprise Group, Inc.	STOCK	744573106	923,324	10,350	SH		SOLE		0	0	0
Sempra Energy	STOCK	816851109	1,007,742	12,050	SH		SOLE		0	0	0
Southern Co./The	STOCK	842587107	311,121	3,450	SH		SOLE		0	0	0
Southwest Gas Corp.	STOCK	844895102	195,464	2,650	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	22,202	150	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	865,342	7,300	SH		SOLE		0	0	0
WEC Energy Group, Inc.	STOCK	92939U106	639,597	6,650	SH		SOLE		0	0	0
Waste Management, Inc.	STOCK	94106L109	197,220	950	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	132,385	2,900	SH		SOLE		0	0	0
Xcel Energy, Inc.	STOCK	98389B100	548,520	8,400	SH		SOLE		0	0	0