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
ABBVIE INC COM 00287Y109 9,563 131,500 SH   SOLE 131,500 0 0
ACCURAY INC COM 004397105 832 215,000 SH   SOLE 215,000 0 0
ALEXANDRIA REAL ESTATE EQ IN COM 015271109 12,640 89,585 SH   SOLE 89,585 0 0
ALKERMES PLC SHS G01767105 1,375 61,000 SH   SOLE 61,000 0 0
ALLERGAN PLC SHS G0177J108 3,349 20,000 SH   SOLE 20,000 0 0
ALLSCRIPTS HEALTHCARE SOLUTN COM 01988P108 204 17,500 SH   SOLE 17,500 0 0
AMAG PHARMACEUTICALS INC COM 00163U106 1,449 145,000 SH   SOLE 145,000 0 0
AMERICAN ASSETS TR INC COM 024013104 13,759 292,000 SH   SOLE 292,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 14,829 610,000 SH   SOLE 610,000 0 0
ARCH CAP GROUP LTD ORD G0450A105 4,006 108,029 SH   SOLE 108,029 0 0
ASSURANT INC COM 04621X108 1,563 14,690 SH   SOLE 14,690 0 0
AXIS CAPITAL HOLDINGS LTD SHS G0692U109 4,042 67,756 SH   SOLE 67,756 0 0
BRISTOL MYERS SQUIBB CO COM 110122108 3,492 77,000 SH   SOLE 77,000 0 0
CAMDEN PPTY TR SH BEN INT 133131102 16,180 155,000 SH   SOLE 155,000 0 0
CAPITAL ONE FINL CORP COM 14040H105 1,932 21,289 SH   SOLE 21,289 0 0
CARDINAL HEALTH INC COM 14149Y108 5,181 110,000 SH   SOLE 110,000 0 0
CARE COM INC COM 141633107 329 30,000 SH   SOLE 30,000 0 0
CELGENE CORP COM 151020104 948 10,250 SH   SOLE 10,250 0 0
CENTENE CORP DEL COM 15135B101 2,648 50,500 SH   SOLE 50,500 0 0
CHANGE HEALTHCARE INC COM 15912K100 949 65,000 SH   SOLE 65,000 0 0
CIGNA CORP NEW COM 125523100 8,823 56,000 SH   SOLE 56,000 0 0
CIT GROUP INC COM NEW 125581801 6,232 118,619 SH   SOLE 118,619 0 0
CITIZENS FINL GROUP INC COM 174610105 1,968 55,645 SH   SOLE 55,645 0 0
COMCAST CORP NEW CL A 20030N101 471 11,144 SH   SOLE 11,144 0 0
CORECIVIC INC COM 21871N101 343 16,500 SH   SOLE 16,500 0 0
CVS HEALTH CORP COM 126650100 3,079 56,500 SH   SOLE 56,500 0 0
DAVITA INC COM 23918K108 2,391 42,500 SH   SOLE 42,500 0 0
DENALI THERAPEUTICS INC COM 24823R105 404,042 19,462,500 SH   SOLE 19,462,500 0 0
E TRADE FINANCIAL CORP COM NEW 269246401 8,318 186,493 SH   SOLE 186,493 0 0
EVERCORE INC CLASS A 29977A105 3,551 40,093 SH   SOLE 40,093 0 0
EVOLENT HEALTH INC CL A 30050B101 1,968 247,500 SH   SOLE 247,500 0 0
EVOLUS INC COM 30052C107 263 18,000 SH   SOLE 18,000 0 0
FIFTH THIRD BANCORP COM 316773100 1,533 54,950 SH   SOLE 54,950 0 0
GALLAGHER ARTHUR J & CO COM 363576109 2,005 22,896 SH   SOLE 22,896 0 0
GILEAD SCIENCES INC COM 375558103 1,216 18,000 SH   SOLE 18,000 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 4,851 23,708 SH   SOLE 23,708 0 0
GROCERY OUTLET HLDG CORP COM 39874R101 658 20,000 SH   SOLE 20,000 0 0
HEALTHCARE TR AMER INC CL A NEW 42225P501 14,255 519,700 SH   SOLE 519,700 0 0
HOST HOTELS & RESORTS INC COM 44107P104 14,869 816,101 SH   SOLE 816,101 0 0
HUDSON PAC PPTYS INC COM 444097109 7,895 237,297 SH   SOLE 237,297 0 0
HUTCHISON CHINA MEDITECH LTD SPONSORED ADR 44842L103 1,395 63,400 SH   SOLE 63,400 0 0
INTERXION HOLDING N.V SHS N47279109 761 10,000 SH   SOLE 10,000 0 0
INTRICON CORP COM 46121H109 572 24,500 SH   SOLE 24,500 0 0
INVESCO QQQ TR UNIT SER 1 46090E103 11,298 60,500 SH   SOLE 60,500 0 0
ISHARES TR IBOXX HI YD ETF 464288513 2,180 25,000 SH   SOLE 25,000 0 0
JBG SMITH PPTYS COM 46590V100 3,957 100,582 SH   SOLE 100,582 0 0
LIBERTY PPTY TR SH BEN INT 531172104 10,034 200,517 SH   SOLE 200,517 0 0
LPL FINL HLDGS INC COM 50212V100 9,078 111,287 SH   SOLE 111,287 0 0
LULULEMON ATHLETICA INC COM 550021109 3,875 21,500 SH   SOLE 21,500 0 0
LYFT INC CL A COM 55087P104 1,314 20,000 SH   SOLE 20,000 0 0
MALLINCKRODT PUB LTD CO SHS G5785G107 1,836 200,000 SH   SOLE 200,000 0 0
MARATHON OIL CORP COM 565849106 1,421 100,000 SH   SOLE 100,000 0 0
MEDICINES CO COM 584688105 638 17,500 SH   SOLE 17,500 0 0
MEDNAX INC COM 58502B106 505 20,000 SH   SOLE 20,000 0 0
METLIFE INC COM 59156R108 4,185 84,251 SH   SOLE 84,251 0 0
MYLAN N V SHS EURO N59465109 10,853 570,000 SH   SOLE 570,000 0 0
MYRIAD GENETICS INC COM 62855J104 611 22,000 SH   SOLE 22,000 0 0
NATUS MEDICAL INC DEL COM 639050103 334 13,000 SH   SOLE 13,000 0 0
NAVIENT CORPORATION COM 63938C108 3,868 283,368 SH   SOLE 283,368 0 0
NUVECTRA CORP COM 67075N108 511 152,500 SH   SOLE 152,500 0 0
PARAMOUNT GROUP INC COM 69924R108 13,353 953,090 SH   SOLE 953,090 0 0
PDL BIOPHARMA INC COM 69329Y104 471 150,000 SH   SOLE 150,000 0 0
PNC FINL SVCS GROUP INC COM 693475105 1,919 13,977 SH   SOLE 13,977 0 0
PRINCIPAL FINL GROUP INC COM 74251V102 6,092 105,186 SH   SOLE 105,186 0 0
PUMA BIOTECHNOLOGY INC COM 74587V107 407 32,000 SH   SOLE 32,000 0 0
RADIAN GROUP INC COM 750236101 378 16,528 SH   SOLE 16,528 0 0
REGENCY CTRS CORP COM 758849103 5,026 75,300 SH   SOLE 75,300 0 0
REGIONS FINL CORP NEW COM 7591EP100 969 64,871 SH   SOLE 64,871 0 0
SPIRIT RLTY CAP INC NEW COM NEW 84860W300 5,708 133,800 SH   SOLE 133,800 0 0
SUNSTONE HOTEL INVS INC NEW COM 867892101 8,633 629,700 SH   SOLE 629,700 0 0
SYNCHRONY FINL COM 87165B103 6,796 196,013 SH   SOLE 196,013 0 0
THE REALREAL INC COM 88339P101 482 16,688 SH   SOLE 16,688 0 0
TIVITY HEALTH INC COM 88870R102 1,586 96,500 SH   SOLE 96,500 0 0
TPG RE FIN TR INC COM 87266M107 7,220 374,266 SH   SOLE 374,266 0 0
UNITED THERAPEUTICS CORP DEL COM 91307C102 1,015 13,000 SH   SOLE 13,000 0 0
US BANCORP DEL COM NEW 902973304 2,007 38,310 SH   SOLE 38,310 0 0
VICI PPTYS INC COM 925652109 17,200 780,390 SH   SOLE 780,390 0 0
VITAMIN SHOPPE INC COM 92849E101 236 60,000 SH   SOLE 60,000 0 0
W P CAREY INC COM 92936U109 1,378 16,973 SH   SOLE 16,973 0 0
WEINGARTEN RLTY INVS SH BEN INT 948741103 2,375 86,617 SH   SOLE 86,617 0 0
WELLS FARGO CO NEW COM 949746101 1,009 21,332 SH   SOLE 21,332 0 0
ZIONS BANCORPORATION N A COM 989701107 1,090 23,698 SH   SOLE 23,698 0 0