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
ACUSHNET HOLDINGS CORP COM 005098108 3,745 190,000 SH   SOLE   190,000 0 0
ADVANCED DISP SVCS INC DEL COM 00790X101 3,238 145,715 SH   SOLE   145,715 0 0
AEGEAN MARINE PETROLEUM NETW SHS Y0017S102 1,336 131,583 SH   SOLE   131,583 0 0
AMICUS THERAPEUTICS INC COM 03152W109 3,301 664,116 SH   SOLE   664,116 0 0
ATHENE HLDG LTD CL A G0684D107 11,758 245,000 SH   SOLE   245,000 0 0
BANK AMER CORP COM 060505104 66,030 2,987,804 SH   SOLE   2,987,804 0 0
BANK NEW YORK MELLON CORP COM 064058100 15,766 332,759 SH   SOLE   332,759 0 0
BB&T CORP COM 054937107 11,452 243,549 SH   SOLE   243,549 0 0
CALATLANTIC GROUP INC COM 128195104 16,298 479,201 SH   SOLE   479,201 0 0
CIT GROUP INC COM NEW 125581801 2,633 61,697 SH   SOLE   61,697 0 0
CITIGROUP INC COM NEW 172967424 52,225 878,767 SH   SOLE   878,767 0 0
CITIZENS FINL GROUP INC COM 174610105 5,337 149,790 SH   SOLE   149,790 0 0
CME GROUP INC COM 12572Q105 3,461 30,000 SH   SOLE   30,000 0 0
COMERICA INC COM 200340107 3,413 50,109 SH   SOLE   50,109 0 0
CULLEN FROST BANKERS INC COM 229899109 1,822 20,654 SH   SOLE   20,654 0 0
D R HORTON INC COM 23331A109 55,337 2,024,764 SH   SOLE   2,024,764 0 0
DBX ETF TR XTRAK MSCI EAFE 233051200 2,193 78,140 SH   SOLE   78,140 0 0
EAST WEST BANCORP INC COM 27579R104 2,158 42,447 SH   SOLE   42,447 0 0
EXTRACTION OIL AND GAS INC COM 30227M105 5,305 264,724 SH   SOLE   264,724 0 0
FIFTH THIRD BANCORP COM 316773100 6,072 225,127 SH   SOLE   225,127 0 0
FINISAR CORP COM NEW 31787A507 7,747 255,943 SH   SOLE   255,943 0 0
FIRST REP BK SAN FRANCISCO C COM 33616C100 4,447 48,262 SH   SOLE   48,262 0 0
FORTERRA INC COM 34960W106 4,276 197,400 SH   SOLE   197,400 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 30,326 126,650 SH   SOLE   126,650 0 0
HUNTINGTON BANCSHARES INC COM 446150104 4,323 326,978 SH   SOLE   326,978 0 0
JPMORGAN CHASE & CO COM 46625H100 96,027 1,112,839 SH   SOLE   1,112,839 0 0
KB HOME COM 48666K109 8,933 565,030 SH   SOLE   565,030 0 0
KEYCORP NEW COM 493267108 5,844 319,861 SH   SOLE   319,861 0 0
LENNAR CORP CL A 526057104 46,316 1,078,880 SH   SOLE   1,078,880 0 0
M & T BK CORP COM 55261F104 7,378 47,162 SH   SOLE   47,162 0 0
M D C HLDGS INC COM 552676108 6,536 254,698 SH   SOLE   254,698 0 0
M/I HOMES INC COM 55305B101 3,835 152,295 SH   SOLE   152,295 0 0
MERITAGE HOMES CORP COM 59001A102 7,962 228,785 SH   SOLE   228,785 0 0
MORGAN STANLEY COM NEW 617446448 23,663 560,069 SH   SOLE   560,069 0 0
NANTHEALTH INC COM 630104107 150 15,108 SH   SOLE   15,108 0 0
NEW YORK CMNTY BANCORP INC COM 649445103 2,311 145,230 SH   SOLE   145,230 0 0
NEWPARK RES INC COM PAR $.01NEW 651718504 619 82,568 SH   SOLE   82,568 0 0
NORTHERN TR CORP COM 665859104 6,228 69,935 SH   SOLE   69,935 0 0
NVR INC COM 62944T105 39,519 23,678 SH   SOLE   23,678 0 0
PEOPLES UNITED FINANCIAL INC COM 712704105 1,870 96,583 SH   SOLE   96,583 0 0
PNC FINL SVCS GROUP INC COM 693475105 17,630 150,732 SH   SOLE   150,732 0 0
PULTE GROUP INC COM 745867101 36,600 1,991,309 SH   SOLE   1,991,309 0 0
REGIONS FINL CORP NEW COM 7591EP100 5,228 364,067 SH   SOLE   364,067 0 0
REXNORD CORP NEW COM 76169B102 2,338 119,349 SH   SOLE   119,349 0 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 39,778 528,118 SH   SOLE   528,118 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 66,028 2,839,895 SH   SOLE   2,839,895 0 0
SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 16,069 330,846 SH   SOLE   330,846 0 0
SIGNATURE BK NEW YORK N Y COM 82669G104 2,384 15,871 SH   SOLE   15,871 0 0
STATE STR CORP COM 857477103 9,556 122,952 SH   SOLE   122,952 0 0
SUNTRUST BKS INC COM 867914103 8,367 152,538 SH   SOLE   152,538 0 0
SVB FINL GROUP COM 78486Q101 2,595 15,118 SH   SOLE   15,118 0 0
TOLL BROTHERS INC COM 889478103 31,179 1,005,774 SH   SOLE   1,005,774 0 0
TOPBUILD CORP COM 89055F103 8,448 237,309 SH   SOLE   237,309 0 0
TRI POINTE GROUP INC COM 87265H109 10,365 902,892 SH   SOLE   902,892 0 0
US BANCORP DEL COM NEW 902973304 27,042 526,422 SH   SOLE   526,422 0 0
VALVOLINE INC COM 92047W101 3,695 171,875 SH   SOLE   171,875 0 0
WELLS FARGO & CO NEW COM 949746101 88,028 1,597,310 SH   SOLE   1,597,310 0 0
WILDHORSE RESOURCE DEV CORP COM 96812T102 5,151 352,790 SH   SOLE   352,790 0 0
WORLD WRESTLING ENTMT INC CL A 98156Q108 2,206 119,916 SH   SOLE   119,916 0 0
ZIONS BANCORPORATION COM 989701107 2,672 62,077 SH   SOLE   62,077 0 0
ZTO EXPRESS CAYMAN INC SPONSORED ADR 98980A105 8,449 700,000 SH   SOLE   700,000 0 0