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
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
ALLEGION PUB LTD CO ORD SHS G0176J109 7,012 101,000 SH   SOLE   101,000 0 0
APARTMENT INVT & MGMT CO CL A 03748R101 27,830 630,200 SH   SOLE   630,200 0 0
BEACON ROOFING SUPPLY INC COM 073685109 15,011 330,129 SH   SOLE   330,129 0 0
BOYD GAMING CORP COM 103304101 9,421 512,000 SH   SOLE   512,000 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 2,160 350,000 SH   SOLE   350,000 0 0
COLONY STARWOOD HOMES COM 19625X102 11,499 378,000 SH   SOLE   378,000 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 20,710 204,178 SH   SOLE   204,178 0 0
CYRUSONE INC COM 23283R100 18,272 328,283 SH   SOLE   328,283 0 0
D R HORTON INC COM 23331A109 15,043 477,858 SH   SOLE   477,858 0 0
DIAMONDROCK HOSPITALITY CO COM 252784301 9,742 1,078,844 SH   SOLE   1,078,844 0 0
DICKS SPORTING GOODS INC COM 253393102 4,506 100,000 SH   SOLE   100,000 0 0
EQUINIX INC COM PAR $0.001 29444U700 18,815 48,526 SH   SOLE   48,526 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 5,826 200,000 SH   SOLE   200,000 0 0
EQUITY LIFESTYLE PPTYS INC COM 29472R108 15,129 189,000 SH   SOLE   189,000 0 0
EQUITY ONE COM 294752100 29,132 905,282 SH   SOLE   905,282 0 0
FEDERAL REALTY INVT TR SH BEN INT NEW 313747206 17,383 105,000 SH   SOLE   105,000 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 22,035 792,070 SH   SOLE   792,070 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 25,025 1,215,390 SH   SOLE   1,215,390 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 26,614 892,500 SH   SOLE   892,500 0 0
GRAMERCY PPTY TR COM 385002100 19,270 2,090,004 SH   SOLE   2,090,004 0 0
HEADWATERS INC COM 42210P102 4,666 260,109 SH   SOLE   260,109 0 0
HOME DEPOT INC COM 437076102 8,300 65,000 SH   SOLE   65,000 0 0
HUDSON PAC PPTYS INC COM 444097109 29,233 1,001,826 SH   SOLE   1,001,826 0 0
LUMBER LIQUIDATORS HLDGS INC COM 55003T107 2,853 185,000 SH   SOLE   185,000 0 0
MACYS INC COM 55616P104 3,193 95,000 SH   SOLE   95,000 0 0
MASCO CORP COM 574599106 8,079 261,134 SH   SOLE   261,134 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 17,929 672,000 SH   SOLE   672,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 28,627 1,265,000 SH   SOLE   1,265,000 0 0
NORWEGIAN CRUISE LINE HLDGS SHS G66721104 4,582 115,000 SH   SOLE   115,000 0 0
OWENS CORNING NEW COM 690742101 7,470 145,000 SH   SOLE   145,000 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 1,446 67,416 SH   SOLE   67,416 0 0
POST PPTYS INC COM 737464107 5,128 84,000 SH   SOLE   84,000 0 0
PRICELINE GRP INC COM NEW 741503403 8,177 6,550 SH   SOLE   6,550 0 0
RETAIL PPTYS AMER INC CL A 76131V202 27,839 1,647,250 SH   SOLE   1,647,250 0 0
SERVICEMASTER GLOBAL HLDGS I COM 81761R109 10,189 256,000 SH   SOLE   256,000 0 0
SL GREEN RLTY CORP COM 78440X101 11,800 110,830 SH   SOLE   110,830 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 25,443 1,992,375 SH   SOLE   1,992,375 0 0
STARWOOD PPTY TR INC COM 85571B105 17,296 834,750 SH   SOLE   834,750 0 0
VENTAS INC COM 92276F100 2,767 38,000 SH   SOLE   38,000 0 0
VORNADO RLTY TR SH BEN INT 929042109 27,364 273,308 SH   SOLE   273,308 0 0
VULCAN MATLS CO COM 929160109 17,989 149,464 SH   SOLE   149,464 0 0
WAL-MART STORES INC COM 931142103 13,874 190,000 SH   SOLE   190,000 0 0
WP GLIMCHER IN COM 92939N102 10,623 949,303 SH   SOLE   949,303 0 0
WYNN RESORTS LTD COM 983134107 13,324 147,000 SH   SOLE   147,000 0 0