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 |
| ALEXANDRIA REAL ESTATE EQ IN | COM | 015271109 | 53,487 | 265,773 | SH | SOLE | 265,773 | 0 | 0 | ||
| AMERICAN HOMES 4 RENT | CL A | 02665T306 | 167,330 | 4,180,104 | SH | SOLE | 4,180,104 | 0 | 0 | ||
| AMERICOLD RLTY TR | COM | 03064D108 | 155,699 | 5,584,619 | SH | SOLE | 5,584,619 | 0 | 0 | ||
| APARTMENT INCOME REIT CORP | COM | 03750L109 | 27,005 | 505,146 | SH | SOLE | 505,146 | 0 | 0 | ||
| APARTMENT INVT & MGMT CO | CL A | 03748R747 | 73,045 | 9,978,759 | SH | SOLE | 9,978,759 | 0 | 0 | ||
| BOYD GAMING CORP | COM | 103304101 | 4,390 | 66,737 | SH | SOLE | 66,737 | 0 | 0 | ||
| BRIXMOR PPTY GROUP INC | COM | 11120U105 | 11,615 | 450,000 | SH | SOLE | 450,000 | 0 | 0 | ||
| CBRE GROUP INC | CL A | 12504L109 | 22,476 | 245,584 | SH | SOLE | 245,584 | 0 | 0 | ||
| CLAROS MTG TR INC | COMMON STOCK | 18270D106 | 10,644 | 621,010 | SH | SOLE | 621,010 | 0 | 0 | ||
| D R HORTON INC | COM | 23331A109 | 179,272 | 2,406,013 | SH | SOLE | 2,406,013 | 0 | 0 | ||
| EQUITY LIFESTYLE PPTYS INC | COM | 29472R108 | 42,210 | 551,909 | SH | SOLE | 551,909 | 0 | 0 | ||
| EXPEDIA GROUP INC | COM NEW | 30212P303 | 72,980 | 372,976 | SH | SOLE | 372,976 | 0 | 0 | ||
| EXPEDIA GROUP INC | COM NEW | 30212P303 | 48,918 | 250,000 | SH | Call | SOLE | 250,000 | 0 | 0 | |
| FIVE POINT HOLDINGS LLC | COM CL A | 33833Q106 | 27,662 | 4,527,395 | SH | SOLE | 4,527,395 | 0 | 0 | ||
| FOMENTO ECONOMICO MEXICANO S | SPON ADR UNITS | 344419106 | 29,781 | 359,456 | SH | SOLE | 359,456 | 0 | 0 | ||
| FORESTAR GROUP INC | COM | 346232101 | 83,150 | 4,681,873 | SH | SOLE | 4,681,873 | 0 | 0 | ||
| FRANKLIN BSP RLTY TR INC | COMMON STOCK | 35243J101 | 10,476 | 749,354 | SH | SOLE | 749,354 | 0 | 0 | ||
| GAMING & LEISURE PPTYS INC | COM | 36467J108 | 24,034 | 512,135 | SH | SOLE | 512,135 | 0 | 0 | ||
| HILTON GRAND VACATIONS INC | COM | 43283X105 | 31,563 | 606,861 | SH | SOLE | 606,861 | 0 | 0 | ||
| HYATT HOTELS CORP | COM CL A | 448579102 | 26,588 | 278,554 | SH | SOLE | 278,554 | 0 | 0 | ||
| INDEPENDENCE RLTY TR INC | COM | 45378A106 | 167,695 | 6,342,473 | SH | SOLE | 6,342,473 | 0 | 0 | ||
| INVENTRUST PPTYS CORP | COM NEW | 46124J201 | 23,942 | 777,844 | SH | SOLE | 777,844 | 0 | 0 | ||
| ISHARES TR | 20 YR TR BD ETF | 464287432 | 132,080 | 1,000,000 | SH | Put | SOLE | 1,000,000 | 0 | 0 | |
| JBG SMITH PPTYS | COM | 46590V100 | 241,695 | 8,271,565 | SH | SOLE | 8,271,565 | 0 | 0 | ||
| LAS VEGAS SANDS CORP | COM | 517834107 | 104,684 | 2,693,176 | SH | SOLE | 2,693,176 | 0 | 0 | ||
| LAS VEGAS SANDS CORP | COM | 517834107 | 48,588 | 1,250,000 | SH | Call | SOLE | 1,250,000 | 0 | 0 | |
| LATCH INC | COM | 51818V106 | 2,713 | 635,403 | SH | SOLE | 635,403 | 0 | 0 | ||
| MADISON SQUARE GRDN SPRT COR | CL A | 55825T103 | 64,398 | 359,045 | SH | SOLE | 359,045 | 0 | 0 | ||
| MELCO RESORTS AND ENTMNT LTD | ADR | 585464100 | 76,083 | 9,958,518 | SH | SOLE | 9,958,518 | 0 | 0 | ||
| NETSTREIT CORP | COM | 64119V303 | 58,875 | 2,623,681 | SH | SOLE | 2,623,681 | 0 | 0 | ||
| SITE CTRS CORP | COM | 82981J109 | 21,155 | 1,266,029 | SH | SOLE | 1,266,029 | 0 | 0 | ||
| SMARTRENT INC | COM CL A | 83193G107 | 29,174 | 5,765,692 | SH | SOLE | 5,765,692 | 0 | 0 | ||
| SPIRIT RLTY CAP INC NEW | COM NEW | 84860W300 | 130,079 | 2,826,569 | SH | SOLE | 2,826,569 | 0 | 0 | ||
| STAG INDL INC | COM | 85254J102 | 97,773 | 2,364,521 | SH | SOLE | 2,364,521 | 0 | 0 | ||
| VICI PPTYS INC | COM | 925652109 | 152,456 | 5,356,839 | SH | SOLE | 5,356,839 | 0 | 0 | ||