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	570,645	8,100	SH		SOLE		0	0	0
Alexandria Real Estate Equities, Inc.	STOCK	015271109	473,118	4,850	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	932,408	4,250	SH		SOLE		0	0	0
American Homes 4 Rent	STOCK	02665T306	1,358,346	36,300	SH		SOLE		0	0	0
American Tower Corp.	STOCK	03027X100	315,465	1,720	SH		SOLE		0	0	0
Apple Hospitality REIT, Inc.	STOCK	03784Y200	228,101	14,860	SH		SOLE		0	0	0
AvalonBay Communities, Inc.	STOCK	053484101	3,341,344	15,190	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	73,122	4,200	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	86,210	500	SH		SOLE		0	0	0
Boston Properties, Inc.	STOCK	101121101	477,019	6,415	SH		SOLE		0	0	0
Brixmor Property Group, Inc.	STOCK	11120U105	1,154,664	41,475	SH		SOLE		0	0	0
Camden Property Trust	STOCK	133131102	1,137,192	9,800	SH		SOLE		0	0	0
CareTrust REIT, Inc.	STOCK	14174T107	135,250	5,000	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	85,683	1,613	SH		SOLE		0	0	0
COPT Defense Properties	STOCK	22002T108	154,750	5,000	SH		SOLE		0	0	0
Cousins Properties, Inc.	STOCK	222795502	199,160	6,500	SH		SOLE		0	0	0
Crown Castle International Corp.	STOCK	22822V101	230,530	2,540	SH		SOLE		0	0	0
CubeSmart	STOCK	229663109	833,433	19,450	SH		SOLE		0	0	0
D.R. Horton, Inc.	STOCK	23331A109	139,820	1,000	SH		SOLE		0	0	0
Digital Realty Trust, Inc.	STOCK	253868103	4,465,347	25,181	SH		SOLE		0	0	0
DigitalBridge Group, Inc.	STOCK	25401T603	349,680	31,000	SH		SOLE		0	0	0
Empire State Realty Trust, Inc.	STOCK	292104106	10,320	1,000	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	352,620	18,000	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	188,160	6,000	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	5,761,058	6,110	SH		SOLE		0	0	0
Equity LifeStyle Properties, Inc.	STOCK	29472R108	1,235,430	18,550	SH		SOLE		0	0	0
Equity Residential	STOCK	29476L107	2,326,100	32,415	SH		SOLE		0	0	0
Essex Property Trust, Inc.	STOCK	297178105	2,065,444	7,236	SH		SOLE		0	0	0
Extra Space Storage, Inc.	STOCK	30225T102	1,956,768	13,080	SH		SOLE		0	0	0
Federal Realty Investment Trust	STOCK	313745101	1,085,915	9,700	SH		SOLE		0	0	0
Four Corners Property Trust, Inc.	STOCK	35086T109	135,700	5,000	SH		SOLE		0	0	0
Gaming and Leisure Properties, Inc.	STOCK	36467J108	1,391,102	28,885	SH		SOLE		0	0	0
Getty Realty Corp.	STOCK	374297109	30,130	1,000	SH		SOLE		0	0	0
Global Medical REIT, Inc.	STOCK	37954A204	115,800	15,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	19,237	717	SH		SOLE		0	0	0
Healthcare Realty Trust, Inc.	STOCK	42226K105	135,600	8,000	SH		SOLE		0	0	0
Healthpeak Properties, Inc.	STOCK	42250P103	341,935	16,869	SH		SOLE		0	0	0
Host Hotels & Resorts, Inc.	STOCK	44107P104	699,048	39,900	SH		SOLE		0	0	0
Invitation Homes, Inc.	STOCK	46187W107	191,820	6,000	SH		SOLE		0	0	0
Iron Mountain, Inc.	STOCK	46284V101	3,878,559	36,900	SH		SOLE		0	0	0
KKR & Co. LP	STOCK	48251W104	66,560	450	SH		SOLE		0	0	0
Kilroy Realty Corp.	STOCK	49427F108	172,519	4,265	SH		SOLE		0	0	0
Kimco Realty Corp.	STOCK	49446R109	599,082	25,569	SH		SOLE		0	0	0
Lennar Corp.	STOCK	526057104	126,142	925	SH		SOLE		0	0	0
Lexington Realty Trust	STOCK	529043101	21,924	2,700	SH		SOLE		0	0	0
Lineage, Inc.	STOCK	53566V106	122,997	2,100	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	191,440	4,000	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	1,124,033	7,272	SH		SOLE		0	0	0
National Retail Properties, Inc.	STOCK	637417106	725,088	17,750	SH		SOLE		0	0	0
NET Lease Office Properties	STOCK	64110Y108	58,425	1,872	SH		SOLE		0	0	0
Omega Healthcare Investors, Inc.	STOCK	681936100	1,230,125	32,500	SH		SOLE		0	0	0
One Liberty Properties, Inc.	STOCK	682406103	68,100	2,500	SH		SOLE		0	0	0
Park Hotels & Resorts, Inc.	STOCK	700517105	130,148	9,250	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	34,160	2,000	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	55,140	3,000	SH		SOLE		0	0	0
Plymouth Industrial REIT Inc.	STOCK	729640102	26,700	1,500	SH		SOLE		0	0	0
Postal Realty Trust, Inc.	STOCK	73757R102	39,150	3,000	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	2,959,706	28,001	SH		SOLE		0	0	0
Public Storage	STOCK	74460D109	2,627,586	8,775	SH		SOLE		0	0	0
Realty Income Corp.	STOCK	756109104	1,387,859	25,985	SH		SOLE		0	0	0
Regency Centers Corp.	STOCK	758849103	990,662	13,400	SH		SOLE		0	0	0
Rexford Industrial Realty, Inc.	STOCK	76169C100	521,910	13,500	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	2,324,835	13,500	SH		SOLE		0	0	0
STAG Industrial, Inc.	STOCK	85254J102	1,452,569	42,950	SH		SOLE		0	0	0
Starwood Property Trust, Inc.	STOCK	85571B105	123,175	6,500	SH		SOLE		0	0	0
Summit Hotel Properties, Inc.	STOCK	866082100	41,100	6,000	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	1,125,176	9,150	SH		SOLE		0	0	0
Sunstone Hotel Investors, Inc.	STOCK	867892101	162,208	13,700	SH		SOLE		0	0	0
Tanger Factory Outlet Centers, Inc.	STOCK	875465106	375,430	11,000	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	2,359,686	39,900	SH		SOLE		0	0	0
Toll Brothers, Inc.	STOCK	889478103	147,991	1,175	SH		SOLE		0	0	0
UDR, Inc.	STOCK	902653104	1,979,496	45,600	SH		SOLE		0	0	0
Ventas, Inc.	STOCK	92276F100	674,291	11,450	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	346,511	3,050	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	2,433,105	83,297	SH		SOLE		0	0	0
WP Carey, Inc.	STOCK	92936U109	501,216	9,200	SH		SOLE		0	0	0
Welltower, Inc.	STOCK	95040Q104	4,433,105	35,175	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	149,195	5,300	SH		SOLE		0	0	0
ALGER CAP APPRECIATION INST CL I MF	MF	015570401	190,288	4,328	SH		SOLE		0	0	0
AB LARGE CAP GROWTH CL ADV MF	MF	01877C408	610,501	5,581	SH		SOLE		0	0	0
AMERICAN BALANCED CL F-2 MF	MF	024071821	725,817	21,155	SH		SOLE		0	0	0
BAIRD ULTRA SHORT BOND CL INST MF	MF	057071722	322,975	31,978	SH		SOLE		0	0	0
COLUMBIA DIVIDEND INCM CL I MF	MF	19765N245	111,611	3,382	SH		SOLE		0	0	0
FIDELITY ADVISOR EQY GRWTH CL I MF	MF	315805101	175,696	7,528	SH		SOLE		0	0	0
FIDELITY MSCI FINANCIALS INDX ETF	ETF	316092501	190,346	2,771	SH		SOLE		0	0	0
FIRST TR LRG CP GRW ALPHADEX ETF	ETF	33735K108	185,061	1,339	SH		SOLE		0	0	0
GABELLI UTILITIES CL A MF	MF	36240E202	7,018	1,371	SH		SOLE		0	0	0
INVSC QQQ TRUST SRS 1 ETF	ETF	46090E103	178,954	350	SH		SOLE		0	0	0
ISHARES 7-10 YEAR TRSURY BOND ETF	ETF	464287440	577,707	6,249	SH		SOLE		0	0	0
ISHARES CORE S&P MID CAP ETF	ETF	464287507	548,514	8,803	SH		SOLE		0	0	0
ISHARES RUSSELL TOP 200 ETF	ETF	464289446	472,821	3,267	SH		SOLE		0	0	0
ISHARES MSCI USA MOMNTUM FCT ETF	ETF	46432F396	178,620	863	SH		SOLE		0	0	0
ISHARES CORE 1-5 YEAR USD BOND ETF	ETF	46432F859	342,305	7,166	SH		SOLE		0	0	0
ISHARES INVEST GRD SYS BND ETF	ETF	46435G219	246,783	5,563	SH		SOLE		0	0	0
MFS GROWTH CL I MF	MF	552985863	180,208	894	SH		SOLE		0	0	0
T. ROWE PRICE BLUE CHIP GRW MF	MF	77954Q106	116,820	627	SH		SOLE		0	0	0
SPDR S&P 500 GROWTH ETF	ETF	78464A409	117,522	1,337	SH		SOLE		0	0	0
SPDR PORTFOLIO S&P 600 SMALL CAP ETF	ETF	78468R853	190	4	SH		SOLE		0	0	0
SELECT SECTOR UTI SELECT SPDR ETF	ETF	81369Y886	358,912	4,742	SH		SOLE		0	0	0
SPIRIT OF AMERICA ENERGY MF	MF	848579207	17,806	1,534	SH		SOLE		0	0	0
THRIVENT LARGE CAP VALUE CL S MF	MF	885882811	348,813	12,082	SH		SOLE		0	0	0
VANGUARD DIVIDEND APPRECIATION ETF	ETF	921908844	725,841	3,706	SH		SOLE		0	0	0
VANGUARD LONG TERM BOND ETF	ETF	921937793	239,220	3,496	SH		SOLE		0	0	0
VANGUARD HEALTH CARE ETF	ETF	92204A504	162,583	641	SH		SOLE		0	0	0
VANGUARD S&P 500 ETF	ETF	922908363	379,460	704	SH		SOLE		0	0	0
VIRTUS INCOME AND GROWTH CL A MF	MF	92837N584	18,903	1,688	SH		SOLE		0	0	0
WASHINGTON MUTUAL INVS CL F 2 MF	MF	939330825	730,345	11,879	SH		SOLE		0	0	0
AES Corp.	STOCK	00130H105	90,090	7,000	SH		SOLE		0	0	0
AT&T, Inc.	STOCK	00206R102	216,315	9,500	SH		SOLE		0	0	0
Abbott Laboratories	STOCK	002824100	350,641	3,100	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	3,944,940	22,200	SH		SOLE		0	0	0
Adobe Systems, Inc.	STOCK	00724F101	555,850	1,250	SH		SOLE		0	0	0
Advanced Micro Devices, Inc.	STOCK	007903107	911,965	7,550	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K107	523,710	2,750	SH		SOLE		0	0	0
Alphabet, Inc.	STOCK	02079K305	8,404,920	44,400	SH		SOLE		0	0	0
Altria Group, Inc.	STOCK	02209S103	661,469	12,650	SH		SOLE		0	0	0
Amazon.com, Inc.	STOCK	023135106	5,693,171	25,950	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	207,518	2,250	SH		SOLE		0	0	0
American Express Co.	STOCK	025816109	1,483,950	5,000	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	45,270	3,000	SH		SOLE		0	0	0
Apple, Inc.	STOCK	037833100	11,314,476	45,182	SH		SOLE		0	0	0
Applied Materials, Inc.	STOCK	038222105	2,280,073	14,020	SH		SOLE		0	0	0
ARM Holdings PLC	STOCK	042068205	24,672	200	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	194,845	4,750	SH		SOLE		0	0	0
Bank of America Corp.	STOCK	060505104	1,092,158	24,850	SH		SOLE		0	0	0
Berkshire Hathaway, Inc.	STOCK	084670702	1,822,186	4,020	SH		SOLE		0	0	0
Blackstone Group LP/The	STOCK	09260D107	2,172,492	12,600	SH		SOLE		0	0	0
Bristol-Myers Squibb Co.	STOCK	110122108	282,800	5,000	SH		SOLE		0	0	0
Broadcom, Inc.	STOCK	11135F101	834,624	3,600	SH		SOLE		0	0	0
CF Industries Holdings, Inc.	STOCK	125269100	614,304	7,200	SH		SOLE		0	0	0
CME Group, Inc.	STOCK	12572Q105	326,051	1,404	SH		SOLE		0	0	0
CSX Corp.	STOCK	126408103	1,181,082	36,600	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	110,010	3,000	SH		SOLE		0	0	0
The Carlyle Group, Inc.	STOCK	14316J108	305,465	6,050	SH		SOLE		0	0	0
Caterpillar, Inc.	STOCK	149123101	4,131,836	11,390	SH		SOLE		0	0	0
Centene Corp.	STOCK	15135B101	442,234	7,300	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	1,944,574	9,050	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	1,616,414	11,160	SH		SOLE		0	0	0
Chipotle Mexican Grill, Inc.	STOCK	169656105	3,497,400	58,000	SH		SOLE		0	0	0
Cisco Systems, Inc.	STOCK	17275R102	991,600	16,750	SH		SOLE		0	0	0
Citigroup, Inc.	STOCK	172967424	1,316,293	18,700	SH		SOLE		0	0	0
Coca-Cola Co./The	STOCK	191216100	473,176	7,600	SH		SOLE		0	0	0
Cognizant Technology Solutions Corp.	STOCK	192446102	353,740	4,600	SH		SOLE		0	0	0
Coinbase Global, Inc.	STOCK	19260Q107	62,075	250	SH		SOLE		0	0	0
Colgate-Palmolive Co.	STOCK	194162103	136,365	1,500	SH		SOLE		0	0	0
ConAgra Foods, Inc.	STOCK	205887102	30,525	1,100	SH		SOLE		0	0	0
ConocoPhillips	STOCK	20825C104	320,022	3,227	SH		SOLE		0	0	0
Constellation Brands, Inc.	STOCK	21036P108	309,400	1,400	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	727,058	3,250	SH		SOLE		0	0	0
Corning, Inc.	STOCK	219350105	380,160	8,000	SH		SOLE		0	0	0
Corteva, Inc.	STOCK	22052L104	411,992	7,233	SH		SOLE		0	0	0
Costco Wholesale Corp.	STOCK	22160K105	6,259,040	6,831	SH		SOLE		0	0	0
Crowdstrike Holdings, Inc.	STOCK	22788C105	958,048	2,800	SH		SOLE		0	0	0
Cummins, Inc.	STOCK	231021106	1,237,530	3,550	SH		SOLE		0	0	0
Deere & Co.	STOCK	244199105	2,440,512	5,760	SH		SOLE		0	0	0
Dell Technolodies, Inc.	STOCK	24703L202	187,150	1,624	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	26,184	800	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	434,150	2,650	SH		SOLE		0	0	0
Digital Realty Trust, Inc.	STOCK	253868103	647,255	3,650	SH		SOLE		0	0	0
DigitalBridge Group, Inc.	STOCK	25401T603	146,640	13,000	SH		SOLE		0	0	0
Walt Disney Co./The	STOCK	254687106	2,327,215	20,900	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	619,390	11,500	SH		SOLE		0	0	0
Dow, Inc.	STOCK	260557103	163,851	4,083	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	215,480	2,000	SH		SOLE		0	0	0
DuPont de Nemours, Inc.	STOCK	26614N102	495,625	6,500	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	478,062	3,900	SH		SOLE		0	0	0
Edison International	STOCK	281020107	207,584	2,600	SH		SOLE		0	0	0
Entergy Corp.	STOCK	29364G103	166,804	2,200	SH		SOLE		0	0	0
Equinix, Inc.	STOCK	29444U700	1,414,335	1,500	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	1,781,144	16,558	SH		SOLE		0	0	0
Meta Platforms, Inc.	STOCK	30303M102	585,510	1,000	SH		SOLE		0	0	0
FedEx Corp.	STOCK	31428X106	506,394	1,800	SH		SOLE		0	0	0
Goldman Sachs Group, Inc./The	STOCK	38141G104	1,554,663	2,715	SH		SOLE		0	0	0
HP, Inc.	STOCK	40434L105	16,315	500	SH		SOLE		0	0	0
Halliburton Co.	STOCK	406216101	67,975	2,500	SH		SOLE		0	0	0
Home Depot, Inc./The	STOCK	437076102	2,387,621	6,138	SH		SOLE		0	0	0
Honeywell International, Inc.	STOCK	438516106	1,953,949	8,650	SH		SOLE		0	0	0
Humana, Inc.	STOCK	444859102	342,509	1,350	SH		SOLE		0	0	0
ITT, Inc.	STOCK	45073V108	42,864	300	SH		SOLE		0	0	0
International Business Machines Corp.	STOCK	459200101	586,506	2,668	SH		SOLE		0	0	0
Iron Mountain, Inc.	STOCK	46284V101	467,740	4,450	SH		SOLE		0	0	0
JPMorgan Chase & Co.	STOCK	46625H100	5,247,731	21,892	SH		SOLE		0	0	0
KKR & Co. LP	STOCK	48251W104	66,560	450	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	212,350	7,750	SH		SOLE		0	0	0
Kroger Co./The	STOCK	501044101	550,350	9,000	SH		SOLE		0	0	0
Lamb Weston Holdings, Inc.	STOCK	513272104	120,294	1,800	SH		SOLE		0	0	0
Eli Lilly & Co.	STOCK	532457108	2,597,780	3,365	SH		SOLE		0	0	0
Lockheed Martin Corp.	STOCK	539830109	364,455	750	SH		SOLE		0	0	0
Lowe's Cos., Inc.	STOCK	548661107	839,120	3,400	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	76,725	550	SH		SOLE		0	0	0
Masco Corp.	STOCK	574599106	616,845	8,500	SH		SOLE		0	0	0
MasterCard, Inc.	STOCK	57636Q104	1,290,097	2,450	SH		SOLE		0	0	0
McDonald's Corp.	STOCK	580135101	747,916	2,580	SH		SOLE		0	0	0
McKesson Corp.	STOCK	58155Q103	2,761,214	4,845	SH		SOLE		0	0	0
Merck & Co., Inc.	STOCK	58933Y105	1,676,238	16,850	SH		SOLE		0	0	0
Microsoft Corp.	STOCK	594918104	8,218,829	19,499	SH		SOLE		0	0	0
Microchip Technology, Inc.	STOCK	595017104	369,908	6,450	SH		SOLE		0	0	0
Mid-America Apartment Communities, Inc.	STOCK	59522J103	38,643	250	SH		SOLE		0	0	0
Morgan Stanley	STOCK	617446448	377,160	3,000	SH		SOLE		0	0	0
NetApp, Inc.	STOCK	64110D104	301,808	2,600	SH		SOLE		0	0	0
Netflix, Inc.	STOCK	64110L106	1,025,018	1,150	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	1,675,754	23,375	SH		SOLE		0	0	0
NIKE, Inc.	STOCK	654106103	113,505	1,500	SH		SOLE		0	0	0
Gen Digital, Inc.	STOCK	668771108	676,286	24,700	SH		SOLE		0	0	0
NVIDIA Corp.	STOCK	67066G104	27,256,841	202,970	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	74,115	1,500	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	130,520	1,300	SH		SOLE		0	0	0
Oracle Corp.	STOCK	68389X105	4,478,450	26,875	SH		SOLE		0	0	0
Palo Alto Networks, Inc.	STOCK	697435105	927,996	5,100	SH		SOLE		0	0	0
Paychex, Inc.	STOCK	704326107	539,847	3,850	SH		SOLE		0	0	0
PepsiCo, Inc.	STOCK	713448108	334,532	2,200	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	577,680	4,800	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	546,864	4,800	SH		SOLE		0	0	0
Procter & Gamble Co./The	STOCK	742718109	1,217,977	7,265	SH		SOLE		0	0	0
Prologis, Inc.	STOCK	74340W103	665,910	6,300	SH		SOLE		0	0	0
QUALCOMM, Inc.	STOCK	747525103	576,075	3,750	SH		SOLE		0	0	0
Quest Diagnostics, Inc.	STOCK	74834L100	629,841	4,175	SH		SOLE		0	0	0
Raytheon Technologies Corp.	STOCK	75513E101	243,012	2,100	SH		SOLE		0	0	0
ServiceNow, Inc.	STOCK	81762P102	1,197,936	1,130	SH		SOLE		0	0	0
Sun Communities, Inc.	STOCK	866674104	227,495	1,850	SH		SOLE		0	0	0
TKO Group Holdings Inc	STOCK	87256C101	127,899	900	SH		SOLE		0	0	0
Taiwan Semiconductor Manufacturing Co. Ltd.	STOCK	874039100	59,247	300	SH		SOLE		0	0	0
Talen Energy Corp.	STOCK	87422Q109	211,544	1,050	SH		SOLE		0	0	0
Target Corp.	STOCK	87612E106	1,396,409	10,330	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	999,600	5,600	SH		SOLE		0	0	0
Terreno Realty Corp.	STOCK	88146M101	122,716	2,075	SH		SOLE		0	0	0
Tesla, Inc.	STOCK	88160R101	969,216	2,400	SH		SOLE		0	0	0
Texas Instruments, Inc.	STOCK	882508104	1,757,906	9,375	SH		SOLE		0	0	0
Thermo Fisher Scientific, Inc.	STOCK	883556102	567,051	1,090	SH		SOLE		0	0	0
UGI Corp.	STOCK	902681105	28,230	1,000	SH		SOLE		0	0	0
United Parcel Service, Inc.	STOCK	911312106	321,555	2,550	SH		SOLE		0	0	0
UnitedHealth Group, Inc.	STOCK	91324P102	986,427	1,950	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	1,583,250	12,915	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	1,101,325	27,540	SH		SOLE		0	0	0
Vertex Pharmaceuticals, Inc.	STOCK	92532F100	40,270	100	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	198,818	1,750	SH		SOLE		0	0	0
VICI Properties, Inc.	STOCK	925652109	60,552	2,073	SH		SOLE		0	0	0
Visa, Inc.	STOCK	92826C839	2,386,102	7,550	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	778,966	5,650	SH		SOLE		0	0	0
WEC Energy Group, Inc.	STOCK	92939U106	949,804	10,100	SH		SOLE		0	0	0
Wal-Mart Stores, Inc.	STOCK	931142103	4,251,148	47,052	SH		SOLE		0	0	0
Waste Connections, Inc.	STOCK	94106B101	2,106,145	12,275	SH		SOLE		0	0	0
Wells Fargo & Co.	STOCK	949746101	140,480	2,000	SH		SOLE		0	0	0
Welltower, Inc.	STOCK	95040Q104	107,126	850	SH		SOLE		0	0	0
Weyerhaeuser Co.	STOCK	962166104	14,075	500	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	2,611,290	48,250	SH		SOLE		0	0	0
Workday, Inc.	STOCK	98138H101	1,723,640	6,680	SH		SOLE		0	0	0
Zscaler, Inc.	STOCK	98980G102	360,820	2,000	SH		SOLE		0	0	0
Accenture PLC	STOCK	G1151C101	1,310,418	3,725	SH		SOLE		0	0	0
Johnson Controls International PLC	STOCK	G51502105	690,874	8,753	SH		SOLE		0	0	0
New Linde PLC	STOCK	G54950103	544,271	1,300	SH		SOLE		0	0	0
Medtronic PLC	STOCK	G5960L103	564,672	7,069	SH		SOLE		0	0	0
Garmin Ltd.	STOCK	H2906T109	206,260	1,000	SH		SOLE		0	0	0
AbbVie, Inc.	STOCK	00287Y109	355,400	2,000	SH		SOLE		0	0	0
Blackstone Mortgage Trust, Inc.	STOCK	09257W100	201,347	11,565	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	579,360	4,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	848,600	20,000	SH		SOLE		0	0	0
Hannon Armstrong Sustainable Infrastructure	STOCK	41068X100	187,810	7,000	SH		SOLE		0	0	0
Healthpeak Properties, Inc.	STOCK	42250P103	27,324	1,348	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	685,000	25,000	SH		SOLE		0	0	0
Philip Morris International, Inc.	STOCK	718172109	661,925	5,500	SH		SOLE		0	0	0
Realty Income Corp.	STOCK	756109104	162,794	3,048	SH		SOLE		0	0	0
Simon Property Group, Inc.	STOCK	828806109	688,840	4,000	SH		SOLE		0	0	0
SOUTH BOW CORP	STOCK	83671M105	70,710	3,000	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	697,950	15,000	SH		SOLE		0	0	0
Verizon Communications, Inc.	STOCK	92343V104	299,925	7,500	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	676,500	12,500	SH		SOLE		0	0	0
Oklo, Inc.	STOCK	02156V109	21,230	1,000	SH		SOLE		0	0	0
Kinetik Holdings Inc	STOCK	02215L209	567,100	10,000	SH		SOLE		0	0	0
Antero Resources Corp.	STOCK	03674X106	543,275	15,500	SH		SOLE		0	0	0
Antero Midstream Corp.	STOCK	03676B102	746,955	49,500	SH		SOLE		0	0	0
APA Corp.	STOCK	03743Q108	184,720	8,000	SH		SOLE		0	0	0
BP PLC	STOCK	055622104	2,405,031	81,361	SH		SOLE		0	0	0
Baker Hughes Co.	STOCK	05722G100	2,666,300	65,000	SH		SOLE		0	0	0
Black Stone Minerals, L.P.	STOCK	09225M101	3,576,985	244,999	SH		SOLE		0	0	0
CNX Resources Corp.	STOCK	12653C108	641,725	17,500	SH		SOLE		0	0	0
Coterra Energy, Inc.	STOCK	127097103	2,145,360	84,000	SH		SOLE		0	0	0
Canadian Natural Resources Ltd.	STOCK	136385101	123,480	4,000	SH		SOLE		0	0	0
Cheniere Energy Partners LP	STOCK	16411Q101	73,306	1,380	SH		SOLE		0	0	0
Cheniere Energy, Inc.	STOCK	16411R208	8,557,198	39,825	SH		SOLE		0	0	0
EXPAND ENERGY CORP	STOCK	165167735	900,928	9,050	SH		SOLE		0	0	0
Chevron Corp.	STOCK	166764100	8,448,517	58,330	SH		SOLE		0	0	0
ConocoPhillips	STOCK	20825C104	4,698,377	47,377	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	313,194	1,400	SH		SOLE		0	0	0
Delek Logistics Partners LP	STOCK	24664T103	84,520	2,000	SH		SOLE		0	0	0
Delek US Holdings, Inc.	STOCK	24665A103	18,500	1,000	SH		SOLE		0	0	0
Devon Energy Corp.	STOCK	25179M103	1,415,573	43,250	SH		SOLE		0	0	0
Diamondback Energy, Inc.	STOCK	25278X109	2,809,685	17,150	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	53,860	1,000	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	188,545	1,750	SH		SOLE		0	0	0
EOG Resources, Inc.	STOCK	26875P101	3,089,016	25,200	SH		SOLE		0	0	0
EQT Corp.	STOCK	26884L109	1,152,750	25,000	SH		SOLE		0	0	0
Enbridge, Inc.	STOCK	29250N105	7,748,864	182,627	SH		SOLE		0	0	0
Energy Transfer LP	STOCK	29273V100	10,905,753	556,700	SH		SOLE		0	0	0
EnLink Midstream LLC	STOCK	29336T100	353,750	25,000	SH		SOLE		0	0	0
Entergy Corp.	STOCK	29364G103	151,640	2,000	SH		SOLE		0	0	0
Enterprise Products Partners LP	STOCK	293792107	6,825,065	217,636	SH		SOLE		0	0	0
Exxon Mobil Corp.	STOCK	30231G102	8,120,352	75,489	SH		SOLE		0	0	0
HF Sinaclair Corp.	STOCK	403949100	1,092,719	31,176	SH		SOLE		0	0	0
Halliburton Co.	STOCK	406216101	1,209,955	44,500	SH		SOLE		0	0	0
Hess Corp.	STOCK	42809H107	259,370	1,950	SH		SOLE		0	0	0
Hess Midstream LP	STOCK	428103105	5,696,584	153,837	SH		SOLE		0	0	0
Crescent Energy Co.	STOCK	44952J104	43,830	3,000	SH		SOLE		0	0	0
ITT, Inc.	STOCK	45073V108	1,007,304	7,050	SH		SOLE		0	0	0
Kinder Morgan, Inc.	STOCK	49456B101	9,411,736	343,494	SH		SOLE		0	0	0
Liberty Oilfield Services, Inc.	STOCK	53115L104	139,230	7,000	SH		SOLE		0	0	0
MPLX LP	STOCK	55336V100	6,862,980	143,397	SH		SOLE		0	0	0
Marathon Petroleum Corp.	STOCK	56585A102	7,815,488	56,025	SH		SOLE		0	0	0
Matador Resources Co.	STOCK	576485205	506,340	9,000	SH		SOLE		0	0	0
Murphy Oil Corp.	STOCK	626717102	151,300	5,000	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	139,796	1,950	SH		SOLE		0	0	0
NextEra Energy Partners LP	STOCK	65341B106	91,670	5,150	SH		SOLE		0	0	0
Chord Energy Corp.	STOCK	674215207	40,922	350	SH		SOLE		0	0	0
Occidental Petroleum Corp.	STOCK	674599105	1,734,291	35,100	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	10,656,657	106,142	SH		SOLE		0	0	0
Ovintiv, Inc.	STOCK	69047Q102	405,000	10,000	SH		SOLE		0	0	0
PBF Energy, Inc.	STOCK	69318G106	1,586,363	59,750	SH		SOLE		0	0	0
PPL Corp.	STOCK	69351T106	681,660	21,000	SH		SOLE		0	0	0
Permian Resources Corp.	STOCK	71424F105	172,560	12,000	SH		SOLE		0	0	0
Phillips 66	STOCK	718546104	7,990,594	70,136	SH		SOLE		0	0	0
Plains All American Pipeline LP	STOCK	726503105	5,641,524	330,300	SH		SOLE		0	0	0
Plains GP Holdings LP	STOCK	72651A207	1,268,220	69,000	SH		SOLE		0	0	0
Range Resources Corp.	STOCK	75281A109	467,740	13,000	SH		SOLE		0	0	0
Shell PLC	STOCK	780259305	187,950	3,000	SH		SOLE		0	0	0
Schlumberger Ltd.	STOCK	806857108	1,893,996	49,400	SH		SOLE		0	0	0
SOUTH BOW CORP	STOCK	83671M105	277,301	11,765	SH		SOLE		0	0	0
Suburban Propane Partners, L.P.	STOCK	864482104	137,600	8,000	SH		SOLE		0	0	0
Suncor Energy, Inc.	STOCK	867224107	142,720	4,000	SH		SOLE		0	0	0
Sunoco LP	STOCK	86765K109	694,440	13,500	SH		SOLE		0	0	0
Talen Energy Corp.	STOCK	87422Q109	352,573	1,750	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	10,046,516	56,283	SH		SOLE		0	0	0
TC Energy Corp.	STOCK	87807B107	2,865,224	61,578	SH		SOLE		0	0	0
Texas Pacific Land Corp.	STOCK	88262P102	1,719,768	1,555	SH		SOLE		0	0	0
TotalEnergies SE	STOCK	89151E109	54,500	1,000	SH		SOLE		0	0	0
UGI Corp.	STOCK	902681105	366,990	13,000	SH		SOLE		0	0	0
USA Compression Partners LP	STOCK	90290N109	124,491	5,284	SH		SOLE		0	0	0
Valero Energy Corp.	STOCK	91913Y100	7,866,478	64,169	SH		SOLE		0	0	0
Vertiv Holdings Co.	STOCK	92537N108	255,623	2,250	SH		SOLE		0	0	0
Viper Energy Inc	STOCK	927959106	1,501,542	30,600	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	468,758	3,400	SH		SOLE		0	0	0
Western Midstream Partners LP	STOCK	958669103	6,212,210	161,650	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	11,948,722	220,782	SH		SOLE		0	0	0
TechnipFMC PLC	STOCK	G87110105	463,040	16,000	SH		SOLE		0	0	0
AES Corp.	STOCK	00130H105	405,405	31,500	SH		SOLE		0	0	0
Alliant Energy Corp.	STOCK	018802108	310,485	5,250	SH		SOLE		0	0	0
Ameren Corp.	STOCK	023608102	775,518	8,700	SH		SOLE		0	0	0
American Electric Power Co., Inc.	STOCK	025537101	1,032,976	11,200	SH		SOLE		0	0	0
American Water Works Co., Inc.	STOCK	030420103	230,307	1,850	SH		SOLE		0	0	0
Atmos Energy Corp.	STOCK	049560105	619,752	4,450	SH		SOLE		0	0	0
Brookfiled Renewable Corp.	STOCK	11285B108	59,469	2,150	SH		SOLE		0	0	0
CMS Energy Corp.	STOCK	125896100	886,445	13,300	SH		SOLE		0	0	0
CenterPoint Energy, Inc.	STOCK	15189T107	491,815	15,500	SH		SOLE		0	0	0
Chesapeake Utilities Corp.	STOCK	165303108	303,375	2,500	SH		SOLE		0	0	0
Clearway Energy, Inc.	STOCK	18539C204	326,300	12,550	SH		SOLE		0	0	0
Constellation Energy Corp.	STOCK	21037T109	1,040,252	4,650	SH		SOLE		0	0	0
DTE Energy Co.	STOCK	233331107	1,207,500	10,000	SH		SOLE		0	0	0
Dominion Resources, Inc.	STOCK	25746U109	234,291	4,350	SH		SOLE		0	0	0
Duke Energy Corp.	STOCK	26441C204	1,228,236	11,400	SH		SOLE		0	0	0
Edison International	STOCK	281020107	866,903	10,858	SH		SOLE		0	0	0
Entergy Corp.	STOCK	29364G103	1,213,120	16,000	SH		SOLE		0	0	0
Essential Utilities, Inc.	STOCK	29670G102	780,880	21,500	SH		SOLE		0	0	0
Evergy, Inc.	STOCK	30034W106	498,555	8,100	SH		SOLE		0	0	0
Eversource Energy	STOCK	30040W108	910,266	15,850	SH		SOLE		0	0	0
Exelon Corp.	STOCK	30161N101	666,228	17,700	SH		SOLE		0	0	0
FirstEnergy Corp.	STOCK	337932107	853,281	21,450	SH		SOLE		0	0	0
IDACORP, Inc.	STOCK	451107106	142,064	1,300	SH		SOLE		0	0	0
NRG Energy, Inc.	STOCK	629377508	198,484	2,200	SH		SOLE		0	0	0
National Fuel Gas Co.	STOCK	636180101	185,074	3,050	SH		SOLE		0	0	0
New Jersey Resources Corp.	STOCK	646025106	125,955	2,700	SH		SOLE		0	0	0
NextEra Energy, Inc.	STOCK	65339F101	1,591,518	22,200	SH		SOLE		0	0	0
Nisource, Inc.	STOCK	65473P105	873,050	23,750	SH		SOLE		0	0	0
Northwest Natural Holdings Co.	STOCK	66765N105	134,504	3,400	SH		SOLE		0	0	0
NorthWestern Corp.	STOCK	668074305	101,574	1,900	SH		SOLE		0	0	0
ONEOK, Inc.	STOCK	682680103	70,280	700	SH		SOLE		0	0	0
TXNM Energy Inc Com	STOCK	69349H107	231,099	4,700	SH		SOLE		0	0	0
PPL Corp.	STOCK	69351T106	1,041,966	32,100	SH		SOLE		0	0	0
Portland General Electric Co.	STOCK	736508847	486,363	11,150	SH		SOLE		0	0	0
Public Service Enterprise Group, Inc.	STOCK	744573106	916,717	10,850	SH		SOLE		0	0	0
Republic Services, Inc.	STOCK	760759100	110,649	550	SH		SOLE		0	0	0
Sempra Energy	STOCK	816851109	1,223,694	13,950	SH		SOLE		0	0	0
Southern Co./The	STOCK	842587107	444,528	5,400	SH		SOLE		0	0	0
Southwest Gas Corp.	STOCK	844895102	222,737	3,150	SH		SOLE		0	0	0
Targa Resources Corp.	STOCK	87612G101	80,325	450	SH		SOLE		0	0	0
Vistra Energy Corp.	STOCK	92840M102	1,047,812	7,600	SH		SOLE		0	0	0
WEC Energy Group, Inc.	STOCK	92939U106	667,684	7,100	SH		SOLE		0	0	0
Waste Management, Inc.	STOCK	94106L109	262,327	1,300	SH		SOLE		0	0	0
Williams Cos, Inc./The	STOCK	969457100	156,948	2,900	SH		SOLE		0	0	0
Xcel Energy, Inc.	STOCK	98389B100	752,848	11,150	SH		SOLE		0	0	0