# EDGAR Filing Document

**Accession Number:** 0001041283
**File Stem:** 0001104659-25-099734
**Filing Date:** 2025-10
**Character Count:** 40196
**Document Hash:** ccaa41d082a2a72acd2b289a8a55ed34
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-099734.hdr.sgml**: 20251015

**ACCESSION NUMBER**: 0001104659-25-099734

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251015

**DATE AS OF CHANGE**: 20251015

**EFFECTIVENESS DATE**: 20251015

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SPIRIT OF AMERICA MANAGEMENT CORP/NY
- **CENTRAL INDEX KEY:** 0001041283

**ORGANIZATION NAME:**
- **EIN:** 000000000

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13233
- **FILM NUMBER:** 251394972

**BUSINESS ADDRESS:**
- **STREET 1:** 477 JERICHO TURNPIKE
- **CITY:** SYOSSET
- **STATE:** NY
- **ZIP:** 11791
- **BUSINESS PHONE:** 516-390-5575

**MAIL ADDRESS:**
- **STREET 1:** 477 JERICHO TURNPIKE
- **STREET 2:** P.O. BOX 9006
- **CITY:** SYOSSET
- **STATE:** NY
- **ZIP:** 11791-9006

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** SPIRIT OF AMERICA MANAGEMENT CORP/NY<br>**Address:** 477 Jericho Turnpike<br>P.o. Box 9006<br>Syosset, NY 11791-9006

**Form 13F File Number:** 028-13233

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Joseph C. Pickard Esq.<br>**Title:** SVP - General Counsel<br>**Phone:** 516-921-4200

**Signature, Place, and Date of Signing:**

/s/ Joseph C. Pickard  Syosset, NY  10-15-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 386

**Form 13F Information Table Value Total:** $498557920

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Agree Realty Corp. | STOCK | 008492100 |  | 575424 | 8100 | SH |  | SOLE |  | 0 | 0 | 0 |
| Alexandria Real Estate Equities Inc. | STOCK | 015271109 |  | 329193 | 3950 | SH |  | SOLE |  | 0 | 0 | 0 |
| Amazon.com Inc. | STOCK | 023135106 |  | 966108 | 4400 | SH |  | SOLE |  | 0 | 0 | 0 |
| American Homes 4 Rent | STOCK | 02665T306 |  | 1206975 | 36300 | SH |  | SOLE |  | 0 | 0 | 0 |
| American Tower Corp. | STOCK | 03027X100 |  | 446182 | 2320 | SH |  | SOLE |  | 0 | 0 | 0 |
| AvalonBay Communities Inc. | STOCK | 053484101 |  | 3291617 | 17040 | SH |  | SOLE |  | 0 | 0 | 0 |
| Blackstone Mortgage Trust Inc. | STOCK | 09257W100 |  | 40502 | 2200 | SH |  | SOLE |  | 0 | 0 | 0 |
| Blackstone Group LP/The | STOCK | 09260D107 |  | 341700 | 2000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Boston Properties Inc. | STOCK | 101121101 |  | 514061 | 6915 | SH |  | SOLE |  | 0 | 0 | 0 |
| Brixmor Property Group Inc. | STOCK | 11120U105 |  | 1148028 | 41475 | SH |  | SOLE |  | 0 | 0 | 0 |
| Camden Property Trust | STOCK | 133131102 |  | 1067800 | 10000 | SH |  | SOLE |  | 0 | 0 | 0 |
| CareTrust REIT Inc. | STOCK | 14174T107 |  | 173400 | 5000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cheniere Energy Partners LP | STOCK | 16411Q101 |  | 86812 | 1613 | SH |  | SOLE |  | 0 | 0 | 0 |
| COPT Defense Properties | STOCK | 22002T108 |  | 348720 | 12000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cousins Properties Inc. | STOCK | 222795502 |  | 188110 | 6500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Crown Castle International Corp. | STOCK | 22822V101 |  | 356048 | 3690 | SH |  | SOLE |  | 0 | 0 | 0 |
| CubeSmart | STOCK | 229663109 |  | 750177 | 18450 | SH |  | SOLE |  | 0 | 0 | 0 |
| D.R. Horton Inc. | STOCK | 23331A109 |  | 169470 | 1000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Digital Realty Trust Inc. | STOCK | 253868103 |  | 3955667 | 22881 | SH |  | SOLE |  | 0 | 0 | 0 |
| DigitalBridge Group Inc. | STOCK | 25401T603 |  | 386100 | 33000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Empire State Realty Trust Inc. | STOCK | 292104106 |  | 7660 | 1000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Energy Transfer LP | STOCK | 29273V100 |  | 274560 | 16000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Enterprise Products Partners LP | STOCK | 293792107 |  | 187620 | 6000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Equinix Inc. | STOCK | 29444U700 |  | 4041518 | 5160 | SH |  | SOLE |  | 0 | 0 | 0 |
| Equity LifeStyle Properties Inc. | STOCK | 29472R108 |  | 1065285 | 17550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Equity Residential | STOCK | 29476L107 |  | 2363616 | 36515 | SH |  | SOLE |  | 0 | 0 | 0 |
| Essex Property Trust Inc. | STOCK | 297178105 |  | 2605938 | 9736 | SH |  | SOLE |  | 0 | 0 | 0 |
| Extra Space Storage Inc. | STOCK | 30225T102 |  | 1491145 | 10580 | SH |  | SOLE |  | 0 | 0 | 0 |
| Federal Realty Investment Trust | STOCK | 313745101 |  | 982707 | 9700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Four Corners Property Trust Inc. | STOCK | 35086T109 |  | 122000 | 5000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Gaming and Leisure Properties Inc. | STOCK | 36467J108 |  | 1346330 | 28885 | SH |  | SOLE |  | 0 | 0 | 0 |
| Getty Realty Corp. | STOCK | 374297109 |  | 26830 | 1000 | SH |  | SOLE |  | 0 | 0 | 0 |
| American Healthcare REIT Inc | STOCK | 398182303 |  | 42010 | 1000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Hannon Armstrong Sustainable Infrastructure | STOCK | 41068X100 |  | 22012 | 717 | SH |  | SOLE |  | 0 | 0 | 0 |
| Healthcare Realty Trust Inc. | STOCK | 42226K105 |  | 144240 | 8000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Healthpeak Properties Inc. | STOCK | 42250P103 |  | 361341 | 18869 | SH |  | SOLE |  | 0 | 0 | 0 |
| Highwoods Properties Inc. | STOCK | 431284108 |  | 63640 | 2000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Host Hotels  Resorts Inc. | STOCK | 44107P104 |  | 679098 | 39900 | SH |  | SOLE |  | 0 | 0 | 0 |
| Invitation Homes Inc. | STOCK | 46187W107 |  | 190645 | 6500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Iron Mountain Inc. | STOCK | 46284V101 |  | 3394602 | 33300 | SH |  | SOLE |  | 0 | 0 | 0 |
| KKR  Co. LP | STOCK | 48251W104 |  | 305383 | 2350 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kilroy Realty Corp. | STOCK | 49427F108 |  | 180196 | 4265 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kimco Realty Corp. | STOCK | 49446R109 |  | 558683 | 25569 | SH |  | SOLE |  | 0 | 0 | 0 |
| Lennar Corp. | STOCK | 526057104 |  | 116587 | 925 | SH |  | SOLE |  | 0 | 0 | 0 |
| Lexington Realty Trust | STOCK | 529043101 |  | 24192 | 2700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Lineage Inc. | STOCK | 53566V106 |  | 81144 | 2100 | SH |  | SOLE |  | 0 | 0 | 0 |
| MPLX LP | STOCK | 55336V100 |  | 149850 | 3000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Mid-America Apartment Communities Inc. | STOCK | 59522J103 |  | 1009130 | 7222 | SH |  | SOLE |  | 0 | 0 | 0 |
| Millrose Properties Inc | STOCK | 601137102 |  | 15528 | 462 | SH |  | SOLE |  | 0 | 0 | 0 |
| National Retail Properties Inc. | STOCK | 637417106 |  | 755618 | 17750 | SH |  | SOLE |  | 0 | 0 | 0 |
| NET Lease Office Properties | STOCK | 64110Y108 |  | 55524 | 1872 | SH |  | SOLE |  | 0 | 0 | 0 |
| Omega Healthcare Investors Inc. | STOCK | 681936100 |  | 1773240 | 42000 | SH |  | SOLE |  | 0 | 0 | 0 |
| One Liberty Properties Inc. | STOCK | 682406103 |  | 55300 | 2500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Park Hotels  Resorts Inc. | STOCK | 700517105 |  | 102490 | 9250 | SH |  | SOLE |  | 0 | 0 | 0 |
| Pebblebrook Hotel Trust Series F 6.30PERCENT | STOCK | 70509V704 |  | 50500 | 2500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Plains All American Pipeline LP | STOCK | 726503105 |  | 34120 | 2000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Plymouth Industrial REIT Inc. | STOCK | 729640102 |  | 33495 | 1500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Postal Realty Trust Inc. | STOCK | 73757R102 |  | 47070 | 3000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Prologis Inc. | STOCK | 74340W103 |  | 2697061 | 23551 | SH |  | SOLE |  | 0 | 0 | 0 |
| Public Storage | STOCK | 74460D109 |  | 2289136 | 7925 | SH |  | SOLE |  | 0 | 0 | 0 |
| Realty Income Corp. | STOCK | 756109104 |  | 1676892 | 27585 | SH |  | SOLE |  | 0 | 0 | 0 |
| Regency Centers Corp. | STOCK | 758849103 |  | 976860 | 13400 | SH |  | SOLE |  | 0 | 0 | 0 |
| Rexford Industrial Realty Inc. | STOCK | 76169C100 |  | 431655 | 10500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Simon Property Group Inc. | STOCK | 828806109 |  | 2711832 | 14450 | SH |  | SOLE |  | 0 | 0 | 0 |
| STAG Industrial Inc. | STOCK | 85254J102 |  | 1374546 | 38950 | SH |  | SOLE |  | 0 | 0 | 0 |
| Starwood Property Trust Inc. | STOCK | 85571B105 |  | 87165 | 4500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Summit Hotel Properties Inc. | STOCK | 866082100 |  | 32940 | 6000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Sun Communities Inc. | STOCK | 866674104 |  | 1083600 | 8400 | SH |  | SOLE |  | 0 | 0 | 0 |
| Sunstone Hotel Investors Inc. | STOCK | 867892101 |  | 81519 | 8700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Tanger Factory Outlet Centers Inc. | STOCK | 875465106 |  | 406080 | 12000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Terreno Realty Corp. | STOCK | 88146M101 |  | 1711013 | 30150 | SH |  | SOLE |  | 0 | 0 | 0 |
| Toll Brothers Inc. | STOCK | 889478103 |  | 162315 | 1175 | SH |  | SOLE |  | 0 | 0 | 0 |
| UDR Inc. | STOCK | 902653104 |  | 1820151 | 48850 | SH |  | SOLE |  | 0 | 0 | 0 |
| Ventas Inc. | STOCK | 92276F100 |  | 1326311 | 18950 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vertiv Holdings Co. | STOCK | 92537N108 |  | 648698 | 4300 | SH |  | SOLE |  | 0 | 0 | 0 |
| VICI Properties Inc. | STOCK | 925652109 |  | 2683705 | 82297 | SH |  | SOLE |  | 0 | 0 | 0 |
| WP Carey Inc. | STOCK | 92936U109 |  | 621644 | 9200 | SH |  | SOLE |  | 0 | 0 | 0 |
| Welltower Inc. | STOCK | 95040Q104 |  | 6266075 | 35175 | SH |  | SOLE |  | 0 | 0 | 0 |
| Weyerhaeuser Co. | STOCK | 962166104 |  | 131387 | 5300 | SH |  | SOLE |  | 0 | 0 | 0 |
| AB LARGE CAP GROWTH FD INC ADVISOR CL | MF | 01877C408 |  | 684449 | 5527 | SH |  | SOLE |  | 0 | 0 | 0 |
| AIM COUNSELOR SER TR INVESCO C DISCOVERY Y | MF | 00141G625 |  | 563351 | 4190 | SH |  | SOLE |  | 0 | 0 | 0 |
| ALGER INSTL FD CAP APPR INS I | MF | 015570401 |  | 225806 | 3846 | SH |  | SOLE |  | 0 | 0 | 0 |
| AMERICAN BALANCED FD SHS F-2 CL | MF | 024071821 |  | 775544 | 19988 | SH |  | SOLE |  | 0 | 0 | 0 |
| BAIRD FDS INC ULTR SHT INSTL | MF | 057071722 |  | 340901 | 33619 | SH |  | SOLE |  | 0 | 0 | 0 |
| COLUMBIA FDS SER TR I DIVIDEND INCME I | MF | 19765N245 |  | 82187 | 2235 | SH |  | SOLE |  | 0 | 0 | 0 |
| FIDELITY ADVISOR SER I INSTL GRWTH | MF | 315805101 |  | 195144 | 7336 | SH |  | SOLE |  | 0 | 0 | 0 |
| FIDELITY COVINGTON TRUST MSCI FINLS IDX | MF | 316092501 |  | 185949 | 2458 | SH |  | SOLE |  | 0 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED ALPHA COM SHS | MF | 33735K108 |  | 195098 | 1217 | SH |  | SOLE |  | 0 | 0 | 0 |
| INVESCO QQQ TR UNIT SER 1 | ETF | 46090E103 |  | 200322 | 332 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES TR 7-10 YR TRSY BD | ETF | 464287440 |  | 605914 | 6280 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES TR CORE 1 5 YR USD | ETF | 46432F859 |  | 351182 | 7202 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES TR CORE S MCP ETF | ETF | 464287507 |  | 533779 | 8151 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES TR INVESTMENT GRADE | ETF | 46435G219 |  | 256533 | 5579 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES TR MSCI USA MMENTM | ETF | 46432F396 |  | 201240 | 786 | SH |  | SOLE |  | 0 | 0 | 0 |
| ISHARES TR RUS TOP 200 ETF | ETF | 464289446 |  | 497338 | 2982 | SH |  | SOLE |  | 0 | 0 | 0 |
| MFS SER TR II EMERG GRW I | MF | 552985863 |  | 195193 | 871 | SH |  | SOLE |  | 0 | 0 | 0 |
| ROWE T PRICE BLUE CHIP GROWTH COM | MF | 77954Q106 |  | 86159 | 395 | SH |  | SOLE |  | 0 | 0 | 0 |
| SELECT SECTOR SPDR TR SBI INT-UTILS | ETF | 81369Y886 |  | 432068 | 4907 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR SERIES TRUST PORTFOLIO S | ETF | 78468R853 |  | 197 | 4 | SH |  | SOLE |  | 0 | 0 | 0 |
| SPDR SERIES TRUST PRTFLO S GW | ETF | 78464A409 |  | 87109 | 830 | SH |  | SOLE |  | 0 | 0 | 0 |
| THRIVENT MUT FDS LARGE CP VALUE S | MF | 885882811 |  | 398558 | 12100 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD BD INDEX FDS LONG TERM BOND | ETF | 921937793 |  | 251048 | 3545 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD INDEX FDS S 500 ETF SHS | ETF | 922908363 |  | 378951 | 617 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS DIV APP ETF | ETF | 921908844 |  | 758189 | 3495 | SH |  | SOLE |  | 0 | 0 | 0 |
| VANGUARD WORLD FD HEALTH CAR ETF | ETF | 92204A504 |  | 175771 | 659 | SH |  | SOLE |  | 0 | 0 | 0 |
| WASHINGTON MUT INVS FD CL F-2 SHS | MF | 939330825 |  | 779892 | 11616 | SH |  | SOLE |  | 0 | 0 | 0 |
| AES Corp. | STOCK | 00130H105 |  | 39480 | 3000 | SH |  | SOLE |  | 0 | 0 | 0 |
| AT Inc. | STOCK | 00206R102 |  | 268280 | 9500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Abbott Laboratories | STOCK | 002824100 |  | 415214 | 3100 | SH |  | SOLE |  | 0 | 0 | 0 |
| AbbVie Inc. | STOCK | 00287Y109 |  | 4758147 | 20550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Adobe Systems Inc. | STOCK | 00724F101 |  | 229288 | 650 | SH |  | SOLE |  | 0 | 0 | 0 |
| Advanced Micro Devices Inc. | STOCK | 007903107 |  | 1407573 | 8700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Aerovironment Inc. | STOCK | 008073108 |  | 94467 | 300 | SH |  | SOLE |  | 0 | 0 | 0 |
| Alphabet Inc. | STOCK | 02079K107 |  | 840248 | 3450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Alphabet Inc. | STOCK | 02079K305 |  | 10793640 | 44400 | SH |  | SOLE |  | 0 | 0 | 0 |
| Oklo Inc. | STOCK | 02156V109 |  | 1724684 | 15450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Altria Group Inc. | STOCK | 02209S103 |  | 835659 | 12650 | SH |  | SOLE |  | 0 | 0 | 0 |
| Amazon.com Inc. | STOCK | 023135106 |  | 6169917 | 28100 | SH |  | SOLE |  | 0 | 0 | 0 |
| American Electric Power Co. Inc. | STOCK | 025537101 |  | 253125 | 2250 | SH |  | SOLE |  | 0 | 0 | 0 |
| American Express Co. | STOCK | 025816109 |  | 1660800 | 5000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Antero Midstream Corp. | STOCK | 03676B102 |  | 58320 | 3000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Apple Inc. | STOCK | 037833100 |  | 9136634 | 35882 | SH |  | SOLE |  | 0 | 0 | 0 |
| Applied Materials Inc. | STOCK | 038222105 |  | 2563345 | 12520 | SH |  | SOLE |  | 0 | 0 | 0 |
| ARM Holdings PLC | STOCK | 042068205 |  | 134416 | 950 | SH |  | SOLE |  | 0 | 0 | 0 |
| AvalonBay Communities Inc. | STOCK | 053484101 |  | 48293 | 250 | SH |  | SOLE |  | 0 | 0 | 0 |
| Baker Hughes Co. | STOCK | 05722G100 |  | 231420 | 4750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Bank of America Corp. | STOCK | 060505104 |  | 1282012 | 24850 | SH |  | SOLE |  | 0 | 0 | 0 |
| Berkshire Hathaway Inc. | STOCK | 084670702 |  | 2071289 | 4120 | SH |  | SOLE |  | 0 | 0 | 0 |
| Blackstone Group LP/The | STOCK | 09260D107 |  | 2391900 | 14000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Bristol-Myers Squibb Co. | STOCK | 110122108 |  | 202950 | 4500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Broadcom Inc. | STOCK | 11135F101 |  | 1583568 | 4800 | SH |  | SOLE |  | 0 | 0 | 0 |
| CF Industries Holdings Inc. | STOCK | 125269100 |  | 645840 | 7200 | SH |  | SOLE |  | 0 | 0 | 0 |
| CME Group Inc. | STOCK | 12572Q105 |  | 379347 | 1404 | SH |  | SOLE |  | 0 | 0 | 0 |
| CSX Corp. | STOCK | 126408103 |  | 1299666 | 36600 | SH |  | SOLE |  | 0 | 0 | 0 |
| The Carlyle Group Inc. | STOCK | 14316J108 |  | 379335 | 6050 | SH |  | SOLE |  | 0 | 0 | 0 |
| Caterpillar Inc. | STOCK | 149123101 |  | 5291594 | 11090 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cheniere Energy Inc. | STOCK | 16411R208 |  | 1292390 | 5500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Chevron Corp. | STOCK | 166764100 |  | 537303 | 3460 | SH |  | SOLE |  | 0 | 0 | 0 |
| Chipotle Mexican Grill Inc. | STOCK | 169656105 |  | 1575438 | 40200 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cisco Systems Inc. | STOCK | 17275R102 |  | 1173403 | 17150 | SH |  | SOLE |  | 0 | 0 | 0 |
| Citigroup Inc. | STOCK | 172967424 |  | 2106125 | 20750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Coca-Cola Co./The | STOCK | 191216100 |  | 504032 | 7600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cognizant Technology Solutions Corp. | STOCK | 192446102 |  | 308522 | 4600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Coinbase Global Inc. | STOCK | 19260Q107 |  | 185620 | 550 | SH |  | SOLE |  | 0 | 0 | 0 |
| ConocoPhillips | STOCK | 20825C104 |  | 49849 | 527 | SH |  | SOLE |  | 0 | 0 | 0 |
| Constellation Energy Corp. | STOCK | 21037T109 |  | 2303490 | 7000 | SH |  | SOLE |  | 0 | 0 | 0 |
| CoreWeave Inc. | STOCK | 21873S108 |  | 369495 | 2700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Corning Inc. | STOCK | 219350105 |  | 656240 | 8000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Corteva Inc. | STOCK | 22052L104 |  | 489168 | 7233 | SH |  | SOLE |  | 0 | 0 | 0 |
| Costco Wholesale Corp. | STOCK | 22160K105 |  | 6253556 | 6756 | SH |  | SOLE |  | 0 | 0 | 0 |
| Crowdstrike Holdings Inc. | STOCK | 22788C105 |  | 2145413 | 4375 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cummins Inc. | STOCK | 231021106 |  | 1499414 | 3550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Deere  Co. | STOCK | 244199105 |  | 2588092 | 5660 | SH |  | SOLE |  | 0 | 0 | 0 |
| Dell Technolodies Inc. | STOCK | 24703L202 |  | 230234 | 1624 | SH |  | SOLE |  | 0 | 0 | 0 |
| Diamondback Energy Inc. | STOCK | 25278X109 |  | 221805 | 1550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Digital Realty Trust Inc. | STOCK | 253868103 |  | 656944 | 3800 | SH |  | SOLE |  | 0 | 0 | 0 |
| DigitalBridge Group Inc. | STOCK | 25401T603 |  | 152100 | 13000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Walt Disney Co./The | STOCK | 254687106 |  | 1660250 | 14500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Dominion Resources Inc. | STOCK | 25746U109 |  | 734040 | 12000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Duke Energy Corp. | STOCK | 26441C204 |  | 278438 | 2250 | SH |  | SOLE |  | 0 | 0 | 0 |
| DuPont de Nemours Inc. | STOCK | 26614N102 |  | 116850 | 1500 | SH |  | SOLE |  | 0 | 0 | 0 |
| EOG Resources Inc. | STOCK | 26875P101 |  | 252270 | 2250 | SH |  | SOLE |  | 0 | 0 | 0 |
| Edison International | STOCK | 281020107 |  | 143728 | 2600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Entergy Corp. | STOCK | 29364G103 |  | 377420 | 4050 | SH |  | SOLE |  | 0 | 0 | 0 |
| Equinix Inc. | STOCK | 29444U700 |  | 1057374 | 1350 | SH |  | SOLE |  | 0 | 0 | 0 |
| Exxon Mobil Corp. | STOCK | 30231G102 |  | 637940 | 5658 | SH |  | SOLE |  | 0 | 0 | 0 |
| Meta Platforms Inc. | STOCK | 30303M102 |  | 1527510 | 2080 | SH |  | SOLE |  | 0 | 0 | 0 |
| FedEx Corp. | STOCK | 31428X106 |  | 424458 | 1800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Freeport-McMoRan Inc. | STOCK | 35671D857 |  | 137270 | 3500 | SH |  | SOLE |  | 0 | 0 | 0 |
| GE Vernova LLC | STOCK | 36828A101 |  | 1152938 | 1875 | SH |  | SOLE |  | 0 | 0 | 0 |
| Goldman Sachs Group Inc./The | STOCK | 38141G104 |  | 2162090 | 2715 | SH |  | SOLE |  | 0 | 0 | 0 |
| HP Inc. | STOCK | 40434L105 |  | 13615 | 500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Home Depot Inc./The | STOCK | 437076102 |  | 2487056 | 6138 | SH |  | SOLE |  | 0 | 0 | 0 |
| Honeywell International Inc. | STOCK | 438516106 |  | 1862925 | 8850 | SH |  | SOLE |  | 0 | 0 | 0 |
| Humana Inc. | STOCK | 444859102 |  | 351230 | 1350 | SH |  | SOLE |  | 0 | 0 | 0 |
| ITT Inc. | STOCK | 45073V108 |  | 53628 | 300 | SH |  | SOLE |  | 0 | 0 | 0 |
| IDACORP Inc. | STOCK | 451107106 |  | 92505 | 700 | SH |  | SOLE |  | 0 | 0 | 0 |
| International Business Machines Corp. | STOCK | 459200101 |  | 752803 | 2668 | SH |  | SOLE |  | 0 | 0 | 0 |
| Iron Mountain Inc. | STOCK | 46284V101 |  | 575961 | 5650 | SH |  | SOLE |  | 0 | 0 | 0 |
| JPMorgan Chase  Co. | STOCK | 46625H100 |  | 6936937 | 21992 | SH |  | SOLE |  | 0 | 0 | 0 |
| KKR  Co. LP | STOCK | 48251W104 |  | 259900 | 2000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kinder Morgan Inc. | STOCK | 49456B101 |  | 219403 | 7750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kroger Co./The | STOCK | 501044101 |  | 606690 | 9000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Eli Lilly  Co. | STOCK | 532457108 |  | 2567495 | 3365 | SH |  | SOLE |  | 0 | 0 | 0 |
| Lockheed Martin Corp. | STOCK | 539830109 |  | 499210 | 1000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Lowe's Cos. Inc. | STOCK | 548661107 |  | 804192 | 3200 | SH |  | SOLE |  | 0 | 0 | 0 |
| Marathon Petroleum Corp. | STOCK | 56585A102 |  | 106007 | 550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Masco Corp. | STOCK | 574599106 |  | 527925 | 7500 | SH |  | SOLE |  | 0 | 0 | 0 |
| MasterCard Inc. | STOCK | 57636Q104 |  | 1393585 | 2450 | SH |  | SOLE |  | 0 | 0 | 0 |
| McDonald's Corp. | STOCK | 580135101 |  | 784036 | 2580 | SH |  | SOLE |  | 0 | 0 | 0 |
| McKesson Corp. | STOCK | 58155Q103 |  | 3607762 | 4670 | SH |  | SOLE |  | 0 | 0 | 0 |
| Merck  Co. Inc. | STOCK | 58933Y105 |  | 835104 | 9950 | SH |  | SOLE |  | 0 | 0 | 0 |
| Microsoft Corp. | STOCK | 594918104 |  | 9995917 | 19299 | SH |  | SOLE |  | 0 | 0 | 0 |
| Microchip Technology Inc. | STOCK | 595017104 |  | 414219 | 6450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Morgan Stanley | STOCK | 617446448 |  | 476880 | 3000 | SH |  | SOLE |  | 0 | 0 | 0 |
| NRG Energy Inc. | STOCK | 629377508 |  | 80975 | 500 | SH |  | SOLE |  | 0 | 0 | 0 |
| NetApp Inc. | STOCK | 64110D104 |  | 307996 | 2600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Netflix Inc. | STOCK | 64110L106 |  | 2253970 | 1880 | SH |  | SOLE |  | 0 | 0 | 0 |
| Newmont Goldcorp Corp. | STOCK | 651639106 |  | 177051 | 2100 | SH |  | SOLE |  | 0 | 0 | 0 |
| NextEra Energy Inc. | STOCK | 65339F101 |  | 1791000 | 23725 | SH |  | SOLE |  | 0 | 0 | 0 |
| NIKE Inc. | STOCK | 654106103 |  | 104595 | 1500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Gen Digital Inc. | STOCK | 668771108 |  | 701233 | 24700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Nucor Corp. | STOCK | 670346105 |  | 54172 | 400 | SH |  | SOLE |  | 0 | 0 | 0 |
| NVIDIA Corp. | STOCK | 67066G104 |  | 31573068 | 169220 | SH |  | SOLE |  | 0 | 0 | 0 |
| Oracle Corp. | STOCK | 68389X105 |  | 8261425 | 29375 | SH |  | SOLE |  | 0 | 0 | 0 |
| PPL Corp. | STOCK | 69351T106 |  | 74320 | 2000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Palantir Technologies Inc. | STOCK | 69608A108 |  | 1112762 | 6100 | SH |  | SOLE |  | 0 | 0 | 0 |
| Palo Alto Networks Inc. | STOCK | 697435105 |  | 1150453 | 5650 | SH |  | SOLE |  | 0 | 0 | 0 |
| Paychex Inc. | STOCK | 704326107 |  | 488026 | 3850 | SH |  | SOLE |  | 0 | 0 | 0 |
| PepsiCo Inc. | STOCK | 713448108 |  | 308968 | 2200 | SH |  | SOLE |  | 0 | 0 | 0 |
| Philip Morris International Inc. | STOCK | 718172109 |  | 778560 | 4800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Phillips 66 | STOCK | 718546104 |  | 530478 | 3900 | SH |  | SOLE |  | 0 | 0 | 0 |
| Procter  Gamble Co./The | STOCK | 742718109 |  | 924205 | 6015 | SH |  | SOLE |  | 0 | 0 | 0 |
| Prologis Inc. | STOCK | 74340W103 |  | 612682 | 5350 | SH |  | SOLE |  | 0 | 0 | 0 |
| QUALCOMM Inc. | STOCK | 747525103 |  | 623850 | 3750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Quest Diagnostics Inc. | STOCK | 74834L100 |  | 724204 | 3800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Raytheon Technologies Corp. | STOCK | 75513E101 |  | 351393 | 2100 | SH |  | SOLE |  | 0 | 0 | 0 |
| Sempra Energy | STOCK | 816851109 |  | 22495 | 250 | SH |  | SOLE |  | 0 | 0 | 0 |
| ServiceNow Inc. | STOCK | 81762P102 |  | 1039916 | 1130 | SH |  | SOLE |  | 0 | 0 | 0 |
| Starbucks Corp. | STOCK | 855244109 |  | 232650 | 2750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Sun Communities Inc. | STOCK | 866674104 |  | 206400 | 1600 | SH |  | SOLE |  | 0 | 0 | 0 |
| TKO Group Holdings Inc | STOCK | 87256C101 |  | 181764 | 900 | SH |  | SOLE |  | 0 | 0 | 0 |
| Taiwan Semiconductor Manufacturing Co. Ltd. | STOCK | 874039100 |  | 293255 | 1050 | SH |  | SOLE |  | 0 | 0 | 0 |
| Talen Energy Corp. | STOCK | 87422Q109 |  | 1318678 | 3100 | SH |  | SOLE |  | 0 | 0 | 0 |
| Target Corp. | STOCK | 87612E106 |  | 74451 | 830 | SH |  | SOLE |  | 0 | 0 | 0 |
| Targa Resources Corp. | STOCK | 87612G101 |  | 619898 | 3700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Terreno Realty Corp. | STOCK | 88146M101 |  | 61006 | 1075 | SH |  | SOLE |  | 0 | 0 | 0 |
| Tesla Inc. | STOCK | 88160R101 |  | 1901178 | 4275 | SH |  | SOLE |  | 0 | 0 | 0 |
| Texas Instruments Inc. | STOCK | 882508104 |  | 1685723 | 9175 | SH |  | SOLE |  | 0 | 0 | 0 |
| Thermo Fisher Scientific Inc. | STOCK | 883556102 |  | 528672 | 1090 | SH |  | SOLE |  | 0 | 0 | 0 |
| UGI Corp. | STOCK | 902681105 |  | 33260 | 1000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Uber Technologies Inc. | STOCK | 90353T100 |  | 176346 | 1800 | SH |  | SOLE |  | 0 | 0 | 0 |
| United Parcel Service Inc. | STOCK | 911312106 |  | 213002 | 2550 | SH |  | SOLE |  | 0 | 0 | 0 |
| UnitedHealth Group Inc. | STOCK | 91324P102 |  | 397095 | 1150 | SH |  | SOLE |  | 0 | 0 | 0 |
| Valero Energy Corp. | STOCK | 91913Y100 |  | 811289 | 4765 | SH |  | SOLE |  | 0 | 0 | 0 |
| Verizon Communications Inc. | STOCK | 92343V104 |  | 1166433 | 26540 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vertex Pharmaceuticals Inc. | STOCK | 92532F100 |  | 39164 | 100 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vertiv Holdings Co. | STOCK | 92537N108 |  | 490295 | 3250 | SH |  | SOLE |  | 0 | 0 | 0 |
| VICI Properties Inc. | STOCK | 925652109 |  | 67601 | 2073 | SH |  | SOLE |  | 0 | 0 | 0 |
| Visa Inc. | STOCK | 92826C839 |  | 2577419 | 7550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vistra Energy Corp. | STOCK | 92840M102 |  | 2164916 | 11050 | SH |  | SOLE |  | 0 | 0 | 0 |
| WEC Energy Group Inc. | STOCK | 92939U106 |  | 1157359 | 10100 | SH |  | SOLE |  | 0 | 0 | 0 |
| Wal-Mart Stores Inc. | STOCK | 931142103 |  | 3323891 | 32252 | SH |  | SOLE |  | 0 | 0 | 0 |
| Waste Connections Inc. | STOCK | 94106B101 |  | 1191045 | 6775 | SH |  | SOLE |  | 0 | 0 | 0 |
| Wells Fargo  Co. | STOCK | 949746101 |  | 167640 | 2000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Welltower Inc. | STOCK | 95040Q104 |  | 828351 | 4650 | SH |  | SOLE |  | 0 | 0 | 0 |
| Weyerhaeuser Co. | STOCK | 962166104 |  | 12395 | 500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Williams Cos Inc./The | STOCK | 969457100 |  | 1542573 | 24350 | SH |  | SOLE |  | 0 | 0 | 0 |
| Workday Inc. | STOCK | 98138H101 |  | 1559930 | 6480 | SH |  | SOLE |  | 0 | 0 | 0 |
| Zscaler Inc. | STOCK | 98980G102 |  | 569354 | 1900 | SH |  | SOLE |  | 0 | 0 | 0 |
| Accenture PLC | STOCK | G1151C101 |  | 918585 | 3725 | SH |  | SOLE |  | 0 | 0 | 0 |
| Johnson Controls International PLC | STOCK | G51502105 |  | 907417 | 8253 | SH |  | SOLE |  | 0 | 0 | 0 |
| New Linde PLC | STOCK | G54950103 |  | 665000 | 1400 | SH |  | SOLE |  | 0 | 0 | 0 |
| Medtronic PLC | STOCK | G5960L103 |  | 673252 | 7069 | SH |  | SOLE |  | 0 | 0 | 0 |
| Garmin Ltd. | STOCK | H2906T109 |  | 283153 | 1150 | SH |  | SOLE |  | 0 | 0 | 0 |
| Blackstone Mortgage Trust Inc. | STOCK | 09257W100 |  | 212912 | 11565 | SH |  | SOLE |  | 0 | 0 | 0 |
| Chevron Corp. | STOCK | 166764100 |  | 388225 | 2500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Enbridge Inc. | STOCK | 29250N105 |  | 630750 | 12500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Hannon Armstrong Sustainable Infrastructure | STOCK | 41068X100 |  | 214900 | 7000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Healthpeak Properties Inc. | STOCK | 42250P103 |  | 25814 | 1348 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kinder Morgan Inc. | STOCK | 49456B101 |  | 212325 | 7500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Realty Income Corp. | STOCK | 756109104 |  | 185288 | 3048 | SH |  | SOLE |  | 0 | 0 | 0 |
| Simon Property Group Inc. | STOCK | 828806109 |  | 656845 | 3500 | SH |  | SOLE |  | 0 | 0 | 0 |
| SOUTH BOW CORP | STOCK | 83671M105 |  | 84870 | 3000 | SH |  | SOLE |  | 0 | 0 | 0 |
| TC Energy Corp. | STOCK | 87807B107 |  | 408075 | 7500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Verizon Communications Inc. | STOCK | 92343V104 |  | 329625 | 7500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Oklo Inc. | STOCK | 02156V109 |  | 2835402 | 25400 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kinetik Holdings Inc | STOCK | 02215L209 |  | 427400 | 10000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Antero Resources Corp. | STOCK | 03674X106 |  | 520180 | 15500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Antero Midstream Corp. | STOCK | 03676B102 |  | 962280 | 49500 | SH |  | SOLE |  | 0 | 0 | 0 |
| BP PLC | STOCK | 055622104 |  | 2286800 | 66361 | SH |  | SOLE |  | 0 | 0 | 0 |
| Baker Hughes Co. | STOCK | 05722G100 |  | 2911020 | 59750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Black Stone Minerals L.P. | STOCK | 09225M101 |  | 1064327 | 80999 | SH |  | SOLE |  | 0 | 0 | 0 |
| CNX Resources Corp. | STOCK | 12653C108 |  | 465740 | 14500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Coterra Energy Inc. | STOCK | 127097103 |  | 1430825 | 60500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Canadian Natural Resources Ltd. | STOCK | 136385101 |  | 127840 | 4000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cheniere Energy Partners LP | STOCK | 16411Q101 |  | 74272 | 1380 | SH |  | SOLE |  | 0 | 0 | 0 |
| Cheniere Energy Inc. | STOCK | 16411R208 |  | 6638185 | 28250 | SH |  | SOLE |  | 0 | 0 | 0 |
| EXPAND ENERGY CORP | STOCK | 165167735 |  | 961472 | 9050 | SH |  | SOLE |  | 0 | 0 | 0 |
| Chevron Corp. | STOCK | 166764100 |  | 5804430 | 37378 | SH |  | SOLE |  | 0 | 0 | 0 |
| ConocoPhillips | STOCK | 20825C104 |  | 3601703 | 38077 | SH |  | SOLE |  | 0 | 0 | 0 |
| Constellation Energy Corp. | STOCK | 21037T109 |  | 1892153 | 5750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Delek Logistics Partners LP | STOCK | 24664T103 |  | 91080 | 2000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Devon Energy Corp. | STOCK | 25179M103 |  | 1348057 | 38450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Diamondback Energy Inc. | STOCK | 25278X109 |  | 1824525 | 12750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Dominion Resources Inc. | STOCK | 25746U109 |  | 91755 | 1500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Duke Energy Corp. | STOCK | 26441C204 |  | 216563 | 1750 | SH |  | SOLE |  | 0 | 0 | 0 |
| EOG Resources Inc. | STOCK | 26875P101 |  | 2236794 | 19950 | SH |  | SOLE |  | 0 | 0 | 0 |
| EQT Corp. | STOCK | 26884L109 |  | 1251890 | 23000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Enbridge Inc. | STOCK | 29250N105 |  | 7096038 | 140627 | SH |  | SOLE |  | 0 | 0 | 0 |
| Energy Transfer LP | STOCK | 29273V100 |  | 6421272 | 374200 | SH |  | SOLE |  | 0 | 0 | 0 |
| Entergy Corp. | STOCK | 29364G103 |  | 559140 | 6000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Enterprise Products Partners LP | STOCK | 293792107 |  | 5382693 | 172136 | SH |  | SOLE |  | 0 | 0 | 0 |
| Exxon Mobil Corp. | STOCK | 30231G102 |  | 5286735 | 46889 | SH |  | SOLE |  | 0 | 0 | 0 |
| GE Vernova LLC | STOCK | 36828A101 |  | 1706348 | 2775 | SH |  | SOLE |  | 0 | 0 | 0 |
| HF Sinclair Corporation | STOCK | 403949100 |  | 1448562 | 27676 | SH |  | SOLE |  | 0 | 0 | 0 |
| Halliburton Co. | STOCK | 406216101 |  | 836400 | 34000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Hess Midstream LP | STOCK | 428103105 |  | 4762268 | 137837 | SH |  | SOLE |  | 0 | 0 | 0 |
| ITT Inc. | STOCK | 45073V108 |  | 1135126 | 6350 | SH |  | SOLE |  | 0 | 0 | 0 |
| IDACORP Inc. | STOCK | 451107106 |  | 125543 | 950 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kinder Morgan Inc. | STOCK | 49456B101 |  | 6850850 | 241994 | SH |  | SOLE |  | 0 | 0 | 0 |
| MPLX LP | STOCK | 55336V100 |  | 5264580 | 105397 | SH |  | SOLE |  | 0 | 0 | 0 |
| Marathon Petroleum Corp. | STOCK | 56585A102 |  | 7945707 | 41225 | SH |  | SOLE |  | 0 | 0 | 0 |
| Matador Resources Co. | STOCK | 576485205 |  | 404370 | 9000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Murphy Oil Corp. | STOCK | 626717102 |  | 142050 | 5000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Viper Energy Inc. | STOCK | 64361Q101 |  | 1073982 | 28100 | SH |  | SOLE |  | 0 | 0 | 0 |
| NextEra Energy Inc. | STOCK | 65339F101 |  | 147206 | 1950 | SH |  | SOLE |  | 0 | 0 | 0 |
| Chord Energy Corp. | STOCK | 674215207 |  | 34780 | 350 | SH |  | SOLE |  | 0 | 0 | 0 |
| Occidental Petroleum Corp. | STOCK | 674599105 |  | 1374975 | 29100 | SH |  | SOLE |  | 0 | 0 | 0 |
| ONEOK Inc. | STOCK | 682680103 |  | 4567703 | 62597 | SH |  | SOLE |  | 0 | 0 | 0 |
| Ovintiv Inc. | STOCK | 69047Q102 |  | 383610 | 9500 | SH |  | SOLE |  | 0 | 0 | 0 |
| PBF Energy Inc. | STOCK | 69318G106 |  | 1214343 | 40250 | SH |  | SOLE |  | 0 | 0 | 0 |
| PPL Corp. | STOCK | 69351T106 |  | 929000 | 25000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Permian Resources Corp. | STOCK | 71424F105 |  | 153600 | 12000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Phillips 66 | STOCK | 718546104 |  | 6744688 | 49586 | SH |  | SOLE |  | 0 | 0 | 0 |
| Plains All American Pipeline LP | STOCK | 726503105 |  | 4235998 | 248300 | SH |  | SOLE |  | 0 | 0 | 0 |
| Plains GP Holdings LP | STOCK | 72651A207 |  | 1167360 | 64000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Range Resources Corp. | STOCK | 75281A109 |  | 263480 | 7000 | SH |  | SOLE |  | 0 | 0 | 0 |
| SLB Ltd. | STOCK | 806857108 |  | 1251068 | 36400 | SH |  | SOLE |  | 0 | 0 | 0 |
| SOUTH BOW CORP | STOCK | 83671M105 |  | 332832 | 11765 | SH |  | SOLE |  | 0 | 0 | 0 |
| Suburban Propane Partners L.P. | STOCK | 864482104 |  | 149200 | 8000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Suncor Energy Inc. | STOCK | 867224107 |  | 167240 | 4000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Sunoco LP | STOCK | 86765K109 |  | 650130 | 13000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Talen Energy Corp. | STOCK | 87422Q109 |  | 2743701 | 6450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Targa Resources Corp. | STOCK | 87612G101 |  | 5999272 | 35808 | SH |  | SOLE |  | 0 | 0 | 0 |
| TC Energy Corp. | STOCK | 87807B107 |  | 2860769 | 52578 | SH |  | SOLE |  | 0 | 0 | 0 |
| Texas Pacific Land Corp. | STOCK | 88262P102 |  | 2105358 | 2255 | SH |  | SOLE |  | 0 | 0 | 0 |
| TotalEnergies SE | STOCK | 89151E109 |  | 59690 | 1000 | SH |  | SOLE |  | 0 | 0 | 0 |
| UGI Corp. | STOCK | 902681105 |  | 299340 | 9000 | SH |  | SOLE |  | 0 | 0 | 0 |
| USA Compression Partners LP | STOCK | 90290N109 |  | 126816 | 5284 | SH |  | SOLE |  | 0 | 0 | 0 |
| Valero Energy Corp. | STOCK | 91913Y100 |  | 7281850 | 42769 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vertiv Holdings Co. | STOCK | 92537N108 |  | 799558 | 5300 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vistra Energy Corp. | STOCK | 92840M102 |  | 1959200 | 10000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Western Midstream Partners LP | STOCK | 958669103 |  | 4995724 | 127150 | SH |  | SOLE |  | 0 | 0 | 0 |
| Williams Cos Inc./The | STOCK | 969457100 |  | 8449750 | 133382 | SH |  | SOLE |  | 0 | 0 | 0 |
| TechnipFMC PLC | STOCK | G87110105 |  | 631200 | 16000 | SH |  | SOLE |  | 0 | 0 | 0 |
| AES Corp. | STOCK | 00130H105 |  | 414540 | 31500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Alliant Energy Corp. | STOCK | 018802108 |  | 444906 | 6600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Ameren Corp. | STOCK | 023608102 |  | 1435225 | 13750 | SH |  | SOLE |  | 0 | 0 | 0 |
| American Electric Power Co. Inc. | STOCK | 025537101 |  | 1580625 | 14050 | SH |  | SOLE |  | 0 | 0 | 0 |
| American Water Works Co. Inc. | STOCK | 030420103 |  | 313178 | 2250 | SH |  | SOLE |  | 0 | 0 | 0 |
| Atmos Energy Corp. | STOCK | 049560105 |  | 956200 | 5600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Brookfiled Renewable Corp. | STOCK | 11285B108 |  | 203078 | 5900 | SH |  | SOLE |  | 0 | 0 | 0 |
| CMS Energy Corp. | STOCK | 125896100 |  | 1432233 | 19550 | SH |  | SOLE |  | 0 | 0 | 0 |
| California Water Service Group | STOCK | 130788102 |  | 298285 | 6500 | SH |  | SOLE |  | 0 | 0 | 0 |
| CenterPoint Energy Inc. | STOCK | 15189T107 |  | 843900 | 21750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Chesapeake Utilities Corp. | STOCK | 165303108 |  | 538760 | 4000 | SH |  | SOLE |  | 0 | 0 | 0 |
| Clearway Energy Inc. | STOCK | 18539C204 |  | 587600 | 20800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Constellation Energy Corp. | STOCK | 21037T109 |  | 2007327 | 6100 | SH |  | SOLE |  | 0 | 0 | 0 |
| DTE Energy Co. | STOCK | 233331107 |  | 1902234 | 13450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Dominion Resources Inc. | STOCK | 25746U109 |  | 434307 | 7100 | SH |  | SOLE |  | 0 | 0 | 0 |
| Duke Energy Corp. | STOCK | 26441C204 |  | 1942875 | 15700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Edison International | STOCK | 281020107 |  | 600230 | 10858 | SH |  | SOLE |  | 0 | 0 | 0 |
| Entergy Corp. | STOCK | 29364G103 |  | 1933693 | 20750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Essential Utilities Inc. | STOCK | 29670G102 |  | 1300740 | 32600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Evergy Inc. | STOCK | 30034W106 |  | 1049076 | 13800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Eversource Energy | STOCK | 30040W108 |  | 1426357 | 20050 | SH |  | SOLE |  | 0 | 0 | 0 |
| Exelon Corp. | STOCK | 30161N101 |  | 1152256 | 25600 | SH |  | SOLE |  | 0 | 0 | 0 |
| FirstEnergy Corp. | STOCK | 337932107 |  | 1425002 | 31100 | SH |  | SOLE |  | 0 | 0 | 0 |
| IDACORP Inc. | STOCK | 451107106 |  | 574853 | 4350 | SH |  | SOLE |  | 0 | 0 | 0 |
| Kinder Morgan Inc. | STOCK | 49456B101 |  | 226480 | 8000 | SH |  | SOLE |  | 0 | 0 | 0 |
| NRG Energy Inc. | STOCK | 629377508 |  | 817848 | 5050 | SH |  | SOLE |  | 0 | 0 | 0 |
| National Fuel Gas Co. | STOCK | 636180101 |  | 364862 | 3950 | SH |  | SOLE |  | 0 | 0 | 0 |
| New Jersey Resources Corp. | STOCK | 646025106 |  | 457425 | 9500 | SH |  | SOLE |  | 0 | 0 | 0 |
| NextEra Energy Inc. | STOCK | 65339F101 |  | 2381710 | 31550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Nisource Inc. | STOCK | 65473P105 |  | 1407250 | 32500 | SH |  | SOLE |  | 0 | 0 | 0 |
| Northwest Natural Holdings Co. | STOCK | 66765N105 |  | 507709 | 11300 | SH |  | SOLE |  | 0 | 0 | 0 |
| NorthWestern Corp. | STOCK | 668074305 |  | 509907 | 8700 | SH |  | SOLE |  | 0 | 0 | 0 |
| NuScale Power Corp | STOCK | 67079K100 |  | 162000 | 4500 | SH |  | SOLE |  | 0 | 0 | 0 |
| ONEOK Inc. | STOCK | 682680103 |  | 238977 | 3275 | SH |  | SOLE |  | 0 | 0 | 0 |
| TXNM Energy Inc Com | STOCK | 69349H107 |  | 316680 | 5600 | SH |  | SOLE |  | 0 | 0 | 0 |
| PPL Corp. | STOCK | 69351T106 |  | 1772532 | 47700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Pinnacle West Capital Corp. | STOCK | 723484101 |  | 331742 | 3700 | SH |  | SOLE |  | 0 | 0 | 0 |
| Portland General Electric Co. | STOCK | 736508847 |  | 743600 | 16900 | SH |  | SOLE |  | 0 | 0 | 0 |
| Public Service Enterprise Group Inc. | STOCK | 744573106 |  | 1372917 | 16450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Republic Services Inc. | STOCK | 760759100 |  | 401590 | 1750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Sempra Energy | STOCK | 816851109 |  | 1552155 | 17250 | SH |  | SOLE |  | 0 | 0 | 0 |
| Southern Co./The | STOCK | 842587107 |  | 815022 | 8600 | SH |  | SOLE |  | 0 | 0 | 0 |
| Southwest Gas Corp. | STOCK | 844895102 |  | 270273 | 3450 | SH |  | SOLE |  | 0 | 0 | 0 |
| Talen Energy Corp. | STOCK | 87422Q109 |  | 233959 | 550 | SH |  | SOLE |  | 0 | 0 | 0 |
| Targa Resources Corp. | STOCK | 87612G101 |  | 289007 | 1725 | SH |  | SOLE |  | 0 | 0 | 0 |
| Vistra Energy Corp. | STOCK | 92840M102 |  | 1920016 | 9800 | SH |  | SOLE |  | 0 | 0 | 0 |
| WEC Energy Group Inc. | STOCK | 92939U106 |  | 905261 | 7900 | SH |  | SOLE |  | 0 | 0 | 0 |
| Waste Management Inc. | STOCK | 94106L109 |  | 607283 | 2750 | SH |  | SOLE |  | 0 | 0 | 0 |
| Williams Cos Inc./The | STOCK | 969457100 |  | 367430 | 5800 | SH |  | SOLE |  | 0 | 0 | 0 |
| Xcel Energy Inc. | STOCK | 98389B100 |  | 1625098 | 20150 | SH |  | SOLE |  | 0 | 0 | 0 |

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