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
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 550 6,608 SH   SOLE   6,608 0 0
AVOLON HLDGS LTD COM G52237107 2,015 94,668 SH   SOLE   94,668 0 0
AXALTA COATING SYS LTD COM G0750C108 5,774 209,066 SH   SOLE   209,066 0 0
CITIZENS FINL GROUP INC COM 174610105 1,326 54,970 SH   SOLE   54,970 0 0
CME GROUP INC COM 12572Q105 2,841 30,000 SH   SOLE   30,000 0 0
D R HORTON INC COM 23331A109 37,440 1,314,597 SH   SOLE   1,314,597 0 0
FMSA HLDGS INC COM 30255X106 252 34,831 SH   SOLE   34,831 0 0
GREAT WESTN BANCORP INC COM 391416104 778 35,325 SH   SOLE   35,325 0 0
INFRAREIT INC COM 45685L100 4,860 170,000 SH   SOLE   170,000 0 0
INOVALON HLDGS INC COM CL A 45781D101 5,679 188,000 SH   SOLE   188,000 0 0
KB HOME COM 48666K109 5,730 366,816 SH   SOLE   366,816 0 0
LENNAR CORP CL A 526057104 36,588 706,200 SH   SOLE   706,200 0 0
M D C HLDGS INC COM 552676108 4,444 155,913 SH   SOLE   155,913 0 0
M/I HOMES INC COM 55305B101 1,736 72,810 SH   SOLE   72,810 0 0
MERITAGE HOMES CORP COM 59001A102 7,273 149,524 SH   SOLE   149,524 0 0
NVR INC COM 62944T105 12,148 9,143 SH   SOLE   9,143 0 0
OM ASSET MGMT PLC SHS G67506108 764 41,010 SH   SOLE   41,010 0 0
PARAMOUNT GROUP INC COM 69924R108 10,491 543,585 SH   SOLE   543,585 0 0
PRA HEALTH SCIENCES INC COM 69354M108 2,086 72,334 SH   SOLE   72,334 0 0
PULTE GROUP INC COM 745867101 29,560 1,329,753 SH   SOLE   1,329,753 0 0
RYLAND GROUP INC COM 783764103 9,216 189,094 SH   SOLE   189,094 0 0
STANDARD PAC CORP NEW COM 85375C101 5,416 601,785 SH   SOLE   601,785 0 0
STORE CAP CORP COM 862121100 2,964 126,946 SH   SOLE   126,946 0 0
SUMMIT MATLS INC CL A 86614U100 4,381 197,800 SH   SOLE   197,800 0 0
TOLL BROTHERS INC COM 889478103 22,150 563,049 SH   SOLE   563,049 0 0
TRAVELPORT WORLDWIDE LTD SHS G9019D104 338 20,226 SH   SOLE   20,226 0 0
VIRGIN AMER INC COM VTG 92765X208 1,541 50,675 SH   SOLE   50,675 0 0
VIVINT SOLAR INC COM 92854Q106 303 24,960 SH   SOLE   24,960 0 0
VWR CORP COM 91843L103 862 33,179 SH   SOLE   33,179 0 0
WAYFAIR INC CL A 94419L101 365 11,361 SH   SOLE   11,361 0 0
ZAYO GROUP HLDGS INC COM 98919V105 1,259 45,036 SH   SOLE   45,036 0 0