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 21,238 333,348 SH   SOLE   333,348 0 0
BLACK KNIGHT FINL SVCS INC CL A 09214X100 5,275 170,000 SH   SOLE   170,000 0 0
CAESARSTONE SDOT-YAM LTD ORD SHS M20598104 10,034 292,113 SH   SOLE   292,113 0 0
CATERPILLAR INC DEL COM 149123101 6,506 85,000 SH   SOLE   85,000 0 0
CEMEX SAB DE CV SPON ADR NEW 151290889 14,454 1,985,491 SH   SOLE   1,985,491 0 0
CROWN CASTLE INTL CORP NEW COM 22822V101 13,840 160,000 SH   SOLE   160,000 0 0
D R HORTON INC COM 23331A109 14,057 465,000 SH   SOLE   465,000 0 0
EMPIRE ST RLTY TR INC CL A 292104106 24,797 1,414,548 SH   SOLE   1,414,548 0 0
EQUINIX INC COM PAR $0.001 29444U700 23,150 70,000 SH   SOLE   70,000 0 0
EQUITY ONE COM 294752100 10,289 359,000 SH   SOLE   359,000 0 0
ESSEX PPTY TR INC COM 297178105 27,362 117,000 SH   SOLE   117,000 0 0
EXTRA SPACE STORAGE INC COM 30225T102 11,990 128,295 SH   SOLE   128,295 0 0
FIRST INDUSTRIAL REALTY TRUS COM 32054K103 18,249 802,500 SH   SOLE   802,500 0 0
FOREST CITY RLTY TR INC COM CL A 345605109 13,090 620,661 SH   SOLE   620,661 0 0
FOUR CORNERS PPTY TR INC COM 35086T109 21,870 1,218,377 SH   SOLE   1,218,377 0 0
GENERAL GROWTH PPTYS INC NEW COM 370023103 16,352 550,000 SH   SOLE   550,000 0 0
GRAMERCY PPTY TR COM 385002100 9,409 1,113,450 SH   SOLE   1,113,450 0 0
HCP INC COM 40414L109 7,070 217,000 SH   SOLE   217,000 0 0
HEADWATERS INC COM 42210P102 28,485 1,435,731 SH   SOLE   1,435,731 0 0
HOME DEPOT INC COM 437076102 18,083 135,522 SH   SOLE   135,522 0 0
HUDSON PAC PPTYS INC COM 444097109 26,317 910,000 SH   SOLE   910,000 0 0
JONES LANG LASALLE INC COM 48020Q107 11,778 100,394 SH   SOLE   100,394 0 0
LENNAR CORP CL A 526057104 15,137 313,000 SH   SOLE   313,000 0 0
MCDONALDS CORP COM 580135101 8,810 70,100 SH   SOLE   70,100 0 0
MGM RESORTS INTERNATIONAL COM 552953101 23,584 1,100,000 SH   SOLE   1,100,000 0 0
PENNSYLVANIA RL ESTATE INVT SH BEN INT 709102107 20,539 940,000 SH   SOLE   940,000 0 0
POST PPTYS INC COM 737464107 10,014 167,625 SH   SOLE   167,625 0 0
ROYAL CARIBBEAN CRUISES LTD COM V7780T103 28,260 344,000 SH   SOLE   344,000 0 0
RYDER SYS INC COM 783549108 10,559 163,000 SH   SOLE   163,000 0 0
SERVICEMASTER GLOBAL HLDGS I COM 81761R109 25,117 666,600 SH   SOLE   666,600 0 0
SL GREEN RLTY CORP COM 78440X101 14,532 150,000 SH   SOLE   150,000 0 0
SMITH A O COM 831865209 15,619 204,680 SH   SOLE   204,680 0 0
SPIRIT RLTY CAP INC NEW COM 84860W102 24,945 2,217,299 SH   SOLE   2,217,299 0 0
STARWOOD PPTY TR INC COM 85571B105 8,802 465,000 SH   SOLE   465,000 0 0
TREX CO INC COM 89531P105 11,956 249,442 SH   SOLE   249,442 0 0
VULCAN MATLS CO COM 929160109 17,525 166,000 SH   SOLE   166,000 0 0
WEYERHAEUSER CO COM 962166104 5,555 179,295 SH   SOLE   179,295 0 0
WP GLIMCHER IN COM 92939N102 11,625 1,225,000 SH   SOLE   1,225,000 0 0