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
ADVANCED DRAIN SYS INC DEL COM 00790R104 3,803 165,500 SH   SOLE   165,500 0 0
APOGEE ENTERPRISES INC COM 037598109 5,993 141,436 SH   SOLE   141,436 0 0
BOSTON PROPERTIES INC COM 101121101 11,486 89,250 SH   SOLE   89,250 0 0
BRINKER INTL INC COM 109641100 13,235 225,500 SH   SOLE   225,500 0 0
CAESARSTONE SDOT-YAM LTD ORD SHS M20598104 12,658 211,600 SH   SOLE   211,600 0 0
CHATHAM LODGING TR COM 16208T102 8,754 302,185 SH   SOLE   302,185 0 0
DOLLAR GEN CORP NEW COM 256677105 5,833 82,500 SH   SOLE   82,500 0 0
EAGLE MATERIALS INC COM 26969P108 7,907 104,000 SH   SOLE   104,000 0 0
EQUITY COMWLTH COM SH BEN INT 294628102 3,773 147,000 SH   SOLE   147,000 0 0
EQUITY ONE COM 294752100 8,787 346,500 SH   SOLE   346,500 0 0
FOREST CITY ENTERPRISES INC CL A 345550107 15,718 737,933 SH   SOLE   737,933 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 10,453 371,595 SH   SOLE   371,595 0 0
GRAMERCY PPTY TR INC COM 38489R100 7,933 1,149,750 SH   SOLE   1,149,750 0 0
HOME DEPOT INC COM 437076102 9,180 87,450 SH   SOLE   87,450 0 0
HUDSON PAC PPTYS INC COM 444097109 13,888 462,000 SH   SOLE   462,000 0 0
ISLE OF CAPRI CASINOS INC COM 464592104 2,998 358,243 SH   SOLE   358,243 0 0
JACK IN THE BOX INC COM 466367109 7,476 93,500 SH   SOLE   93,500 0 0
JONES LANG LASALLE INC COM 48020Q107 14,077 93,890 SH   SOLE   93,890 0 0
KILROY RLTY CORP COM 49427F108 6,527 94,500 SH   SOLE   94,500 0 0
LA QUINTA HLDGS INC COM 50420D108 17,600 797,832 SH   SOLE   797,832 0 0
LANDSTAR SYS INC COM 515098101 4,120 56,800 SH   SOLE   56,800 0 0
LENNOX INTL INC COM 526107107 6,845 72,000 SH   SOLE   72,000 0 0
LOWES COS INC COM 548661107 6,811 99,000 SH   SOLE   99,000 0 0
MACYS INC COM 55616P104 7,117 108,240 SH   SOLE   108,240 0 0
MARRIOTT INTL INC NEW CL A 571903202 9,442 121,000 SH   SOLE   121,000 0 0
MCDONALDS CORP COM 580135101 8,367 89,300 SH   SOLE   89,300 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 9,361 399,000 SH   SOLE   399,000 0 0
POST PPTYS INC COM 737464107 8,639 147,000 SH   SOLE   147,000 0 0
PROLOGIS INC COM 74340W103 10,166 236,250 SH   SOLE   236,250 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 17,681 214,500 SH   SOLE   214,500 0 0
RYDER SYS INC COM 783549108 8,357 90,000 SH   SOLE   90,000 0 0
SBA COMMUNICATIONS CORP COM 78388J106 10,699 96,600 SH   SOLE   96,600 0 0
SHERWIN WILLIAMS CO COM 824348106 7,128 27,100 SH   SOLE   27,100 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 12,172 1,023,750 SH   SOLE   1,023,750 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 9,101 551,250 SH   SOLE   551,250 0 0
UNION PAC CORP COM 907818108 6,166 51,760 SH   SOLE   51,760 0 0
UNITED RENTALS INC COM 911363109 11,833 116,000 SH   SOLE   116,000 0 0
WHOLE FOODS MKT INC COM 966837106 5,824 115,500 SH   SOLE   115,500 0 0