The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 |
| AMERICAN HOMES 4 RENT | CL A | 02665T306 | 218,345 | 10,873,737 | SH | SOLE | 10,873,737 | 0 | 0 | ||
| APARTMENT INVT & MGMT CO | CL A | 03748R101 | 299,565 | 7,351,291 | SH | SOLE | 7,351,291 | 0 | 0 | ||
| APPLE HOSPITALITY REIT INC | COM NEW | 03784Y200 | 64,798 | 3,687,981 | SH | SOLE | 3,687,981 | 0 | 0 | ||
| AVALONBAY CMNTYS INC | COM | 053484101 | 73,562 | 447,296 | SH | SOLE | 447,296 | 0 | 0 | ||
| BLACK KNIGHT INC | COM | 09215C105 | 24,257 | 515,000 | SH | SOLE | 515,000 | 0 | 0 | ||
| BRIXMOR PPTY GROUP INC | COM | 11120U105 | 48,685 | 3,192,470 | SH | SOLE | 3,192,470 | 0 | 0 | ||
| CAESARS ENTMT CORP | COM | 127686103 | 248,414 | 22,081,228 | SH | SOLE | 22,081,228 | 0 | 0 | ||
| CHOICE HOTELS INTL INC | COM | 169905106 | 26,122 | 325,914 | SH | SOLE | 325,914 | 0 | 0 | ||
| D R HORTON INC | COM | 23331A109 | 499,515 | 11,394,053 | SH | SOLE | 11,394,053 | 0 | 0 | ||
| D R HORTON INC | COM | 23331A109 | 168,946 | 3,853,700 | SH | Call | SOLE | 3,853,700 | 0 | 0 | |
| FIVE POINT HOLDINGS LLC | COM CL A | 33833Q106 | 24,581 | 1,723,786 | SH | SOLE | 1,723,786 | 0 | 0 | ||
| FORESTAR GROUP INC | COM | 346232101 | 76,507 | 3,617,373 | SH | SOLE | 3,617,373 | 0 | 0 | ||
| GRAMERCY PPTY TR | COM NEW | 385002308 | 35,457 | 1,631,709 | SH | SOLE | 1,631,709 | 0 | 0 | ||
| HYATT HOTELS CORP | COM CL A | 448579102 | 39,529 | 518,347 | SH | SOLE | 518,347 | 0 | 0 | ||
| JBG SMITH PPTYS | COM | 46590V100 | 103,337 | 3,065,474 | SH | SOLE | 3,065,474 | 0 | 0 | ||
| LA QUINTA HLDGS INC | COM | 50420D108 | 92,277 | 4,879,801 | SH | SOLE | 4,879,801 | 0 | 0 | ||
| LASALLE HOTEL PPTYS | COM SH BEN INT | 517942108 | 178,477 | 6,152,249 | SH | SOLE | 6,152,249 | 0 | 0 | ||
| LENNAR CORP | CL A | 526057104 | 103,200 | 1,750,939 | SH | SOLE | 1,750,939 | 0 | 0 | ||
| MACERICH CO | COM | 554382101 | 22,408 | 400,000 | SH | SOLE | 400,000 | 0 | 0 | ||
| MADISON SQUARE GARDEN CO NEW | CL A | 55825T103 | 38,683 | 157,376 | SH | SOLE | 157,376 | 0 | 0 | ||
| NEW YORK REIT INC | COM NEW | 64976L208 | 18,515 | 860,760 | SH | SOLE | 860,760 | 0 | 0 | ||
| PARAMOUNT GROUP INC | COM | 69924R108 | 217,750 | 15,291,426 | SH | SOLE | 15,291,426 | 0 | 0 | ||
| QUALITY CARE PPTYS INC | COM | 747545101 | 94,844 | 4,881,329 | SH | SOLE | 4,881,329 | 0 | 0 | ||
| RETAIL PPTYS AMER INC | CL A | 76131V202 | 96,404 | 8,267,922 | SH | SOLE | 8,267,922 | 0 | 0 | ||
| SL GREEN RLTY CORP | COM | 78440X101 | 113,860 | 1,175,880 | SH | SOLE | 1,175,880 | 0 | 0 | ||
| SPDR S&P 500 ETF TR | TR UNIT | 78462F103 | 263,150 | 1,000,000 | SH | Put | SOLE | 1,000,000 | 0 | 0 | |
| SPIRIT RLTY CAP INC NEW | COM | 84860W102 | 104,337 | 13,445,500 | SH | SOLE | 13,445,500 | 0 | 0 | ||
| TAUBMAN CTRS INC | COM | 876664103 | 145,837 | 2,562,587 | SH | SOLE | 2,562,587 | 0 | 0 | ||
| VEREIT INC | COM | 92339V100 | 106,954 | 15,366,940 | SH | SOLE | 15,366,940 | 0 | 0 | ||
| VICI PPTYS INC | COM | 925652109 | 68,865 | 3,759,017 | SH | SOLE | 3,759,017 | 0 | 0 | ||
| VORNADO RLTY TR | SH BEN INT | 929042109 | 313,435 | 4,657,274 | SH | SOLE | 4,657,274 | 0 | 0 | ||